LOSS ON NOTE REPURCHASE (Tables)

12 Months Ended

Dec. 31, 2015

LOSS ON NOTE REPURCHASE [Abstract]

Schedule of Extinguishment of Debt [Table Text Block]

LOSS ON SENIOR NOTE REPURCHASE

In the fourth quarter of 2013, Titan satisfied and discharged the indenture relating to the 7.875% senior secured notes due October 2017 (senior secured notes due 2017) by completing a tender offer settlement and redemption of all of its outstanding $525 million principal amount of the notes, including $325 million issued in 2013. In connection with this tender offer and redemption, the Company recorded expenses of $22.7 million. These expenses were related to early tender premium of $25.0 million, redemption premium of $8.1 million, unamortized deferred financing fees of $7.3 million, and other fees of $0.2 million, offset by unamortized premium on the notes of $17.9 million.