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SUBSIDIARY GUARANTOR FINANCIAL INFORMATION
9 Months Ended
Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
SUBSIDIARY GUARANTOR FINANCIAL INFORMATION

The Company's 6.875% senior secured notes due 2020 and 5.625% convertible senior subordinated notes are guaranteed by the following 100% owned subsidiaries of the Company: Titan Tire Corporation, Titan Tire Corporation of Bryan, Titan Tire Corporation of Freeport, and Titan Wheel Corporation of Illinois. The note guarantees are full and unconditional, joint and several obligations of the guarantors. The guarantees of the guarantor subsidiaries are subject to release in limited circumstances only upon the occurrence of certain customary conditions. See the indenture incorporated by reference to the Company's most recent Form 10-K for additional information. The following condensed consolidating financial statements are presented using the equity method of accounting. Certain sales and marketing expenses recorded by non-guarantor subsidiaries have not been allocated to the guarantor subsidiaries.

(Amounts in thousands)
Consolidating Condensed Statements of Operations
For the Three Months Ended September 30, 2016
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net sales
$
—

 
$
114,743

 
$
191,452

 
$
—

 
$
306,195

Cost of sales
87

 
101,517

 
171,615

 
—

 
273,219

Gross profit (loss)
(87
)
 
13,226

 
19,837

 
—

 
32,976

Selling, general and administrative expenses
2,556

 
15,407

 
18,385

 
—

 
36,348

Research and development expenses
—

 
776

 
1,821

 
—

 
2,597

Royalty expense
125

 
1,296

 
864

 
—

 
2,285

Loss from operations
(2,768
)
 
(4,253
)
 
(1,233
)
 
—

 
(8,254
)
Interest expense
(8,288
)
 
—

 
(426
)
 
—

 
(8,714
)
Intercompany interest income (expense)
470

 
—

 
(470
)
 
—

 
—

Foreign exchange gain
—

 
—

 
398

 
—

 
398

Other income
1,256

 
62

 
2,260

 
—

 
3,578

Income (loss) before income taxes
(9,330
)
 
(4,191
)
 
529

 
—

 
(12,992
)
Provision (benefit) for income taxes
(1,935
)
 
(1,448
)
 
1,309

 
—

 
(2,074
)
Equity in earnings of subsidiaries
(3,523
)
 
—

 
(4,037
)
 
7,560

 
—

Net income (loss)
(10,918
)
 
(2,743
)
 
(4,817
)
 
7,560

 
(10,918
)
Net loss noncontrolling interests
—

 
—

 
(966
)
 
—

 
(966
)
Net income (loss) attributable to Titan
$
(10,918
)
 
$
(2,743
)
 
$
(3,851
)
 
$
7,560

 
$
(9,952
)


(Amounts in thousands)
Consolidating Condensed Statements of Operations
For the Three Months Ended September 30, 2015
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net sales
$
—

 
$
138,638

 
$
170,198

 
$
—

 
$
308,836

Cost of sales
196

 
123,052

 
159,435

 
—

 
282,683

Gross profit (loss)
(196
)
 
15,586

 
10,763

 
—

 
26,153

Selling, general and administrative expenses
2,118

 
17,490

 
15,904

 
—

 
35,512

Research and development expenses
—

 
854

 
2,128

 
—

 
2,982

Royalty expense
—

 
1,354

 
767

 
—

 
2,121

Loss from operations
(2,314
)
 
(4,112
)
 
(8,036
)
 
—

 
(14,462
)
Interest expense
(8,041
)
 
—

 
(248
)
 
—

 
(8,289
)
Intercompany interest income (expense)
214

 
—

 
(214
)
 
—

 
—

Foreign exchange gain (loss)
182

 
(1
)
 
(15,514
)
 


 
(15,333
)
Other income (expense)
(410
)
 
42

 
1,123

 
—

 
755

Loss before income taxes
(10,369
)
 
(4,071
)
 
(22,889
)
 
—

 
(37,329
)
Provision (benefit) for income taxes
3,429

 
(1,571
)
 
(1,575
)
 
—

 
283

Equity in earnings of subsidiaries
(23,814
)
 
—

 
(4,353
)
 
28,167

 
—

Net income (loss)
(37,612
)
 
(2,500
)
 
(25,667
)
 
28,167

 
(37,612
)
Net loss noncontrolling interests
—

 
—

 
(6,136
)
 
—

 
(6,136
)
Net income (loss) attributable to Titan
$
(37,612
)
 
$
(2,500
)
 
$
(19,531
)
 
$
28,167

 
$
(31,476
)
(Amounts in thousands)
Consolidating Condensed Statements of Operations
For the Nine Months Ended September 30, 2016
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net sales
$
—

 
$
384,917

 
$
573,286

 
$
—

 
$
958,203

Cost of sales
659

 
331,040

 
516,565

 
—

 
848,264

Gross profit (loss)
(659
)
 
53,877

 
56,721

 
—

 
109,939

Selling, general and administrative expenses
7,907

 
47,879

 
51,926

 
—

 
107,712

Research and development expenses
—

 
2,221

 
5,569

 
—

 
7,790

Royalty expense
542

 
3,573

 
2,573

 
—

 
6,688

Income (loss) from operations
(9,108
)
 
204

 
(3,347
)
 
—

 
(12,251
)
Interest expense
(24,382
)
 
—

 
(826
)
 
—

 
(25,208
)
Intercompany interest income (expense)
1,122

 
—

 
(1,122
)
 
—

 
—

Foreign exchange gain
—

 
202

 
7,201

 
—

 
7,403

Other income
1,864

 
220

 
8,448

 
—

 
10,532

Income (loss) before income taxes
(30,504
)
 
626

 
10,354

 
—

 
(19,524
)
Provision (benefit) for income taxes
(2,205
)
 
417

 
4,366

 
—

 
2,578

Equity in earnings of subsidiaries
6,197

 
—

 
(6,243
)
 
46

 
—

Net income (loss)
(22,102
)
 
209

 
(255
)
 
46

 
(22,102
)
Net loss noncontrolling interests
—

 
—

 
(1,099
)
 
—

 
(1,099
)
Net income (loss) attributable to Titan
$
(22,102
)
 
$
209

 
$
844

 
$
46

 
$
(21,003
)



(Amounts in thousands)
Consolidating Condensed Statements of Operations
For the Nine Months Ended September 30, 2015
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net sales
$
—

 
$
505,945

 
$
581,017

 
$
—

 
$
1,086,962

Cost of sales
634

 
432,331

 
533,997

 
—

 
966,962

Gross profit (loss)
(634
)
 
73,614

 
47,020

 
—

 
120,000

Selling, general and administrative expenses
7,369

 
49,626

 
52,039

 
—

 
109,034

Research and development expenses
—

 
2,659

 
6,188

 
—

 
8,847

Royalty expense
—

 
5,110

 
3,131

 
—

 
8,241

Income (loss) from operations
(8,003
)
 
16,219

 
(14,338
)
 
—

 
(6,122
)
Interest expense
(24,250
)
 
(1
)
 
(1,436
)
 
—

 
(25,687
)
Intercompany interest income (expense)
604

 
—

 
(604
)
 
—

 
—

Foreign exchange gain (loss)
3,272

 
(422
)
 
(8,570
)
 


 
(5,720
)
Other income
1,504

 
87

 
4,740

 
—

 
6,331

Income (loss) before income taxes
(26,873
)
 
15,883

 
(20,208
)
 
—

 
(31,198
)
Provision (benefit) for income taxes
31

 
5,918

 
(2,755
)
 
—

 
3,194

Equity in earnings of subsidiaries
(7,488
)
 
—

 
(981
)
 
8,469

 
—

Net income (loss)
(34,392
)
 
9,965

 
(18,434
)
 
8,469

 
(34,392
)
Net loss noncontrolling interests
—

 
—

 
(9,919
)
 
—

 
(9,919
)
Net income (loss) attributable to Titan
$
(34,392
)
 
$
9,965

 
$
(8,515
)
 
$
8,469

 
$
(24,473
)

(Amounts in thousands)
Consolidating Condensed Statements of Comprehensive Income (Loss)
For the Three Months Ended September 30, 2016
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
(10,918
)
 
$
(2,743
)
 
$
(4,817
)
 
$
7,560

 
$
(10,918
)
Currency translation adjustment
(386
)
 
—

 
(386
)
 
386

 
(386
)
Pension liability adjustments, net of tax
465

 
734

 
(269
)
 
(465
)
 
465

Comprehensive income (loss)
(10,839
)
 
(2,009
)
 
(5,472
)
 
7,481

 
(10,839
)
Net comprehensive loss attributable to redeemable and noncontrolling interests
—

 
—

 
(679
)
 
—

 
(679
)
Comprehensive income (loss) attributable to Titan
$
(10,839
)
 
$
(2,009
)
 
$
(4,793
)
 
$
7,481

 
$
(10,160
)


(Amounts in thousands)
Consolidating Condensed Statements of Comprehensive Income (Loss)
For the Three Months Ended September 30, 2015
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
(37,612
)
 
$
(2,500
)
 
$
(25,667
)
 
$
28,167

 
$
(37,612
)
Currency translation adjustment
(28,444
)
 
—

 
(28,444
)
 
28,444

 
(28,444
)
Pension liability adjustments, net of tax
472

 
427

 
45

 
(472
)
 
472

Comprehensive income (loss)
(65,584
)
 
(2,073
)
 
(54,066
)
 
56,139

 
(65,584
)
Net comprehensive loss attributable to redeemable and noncontrolling interests
—

 
—

 
(8,233
)
 
—

 
(8,233
)
Comprehensive income (loss) attributable to Titan
$
(65,584
)
 
$
(2,073
)
 
$
(45,833
)
 
$
56,139

 
$
(57,351
)



(Amounts in thousands)
Consolidating Condensed Statements of Comprehensive Income (Loss)
For the Nine Months Ended September 30, 2016
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
(22,102
)
 
$
209

 
$
(255
)
 
$
46

 
$
(22,102
)
Currency translation adjustment
21,545

 
—

 
(21,545
)
 
21,545

 
21,545

Pension liability adjustments, net of tax
1,200

 
2,202

 
(1,002
)
 
(1,200
)
 
1,200

Comprehensive income (loss)
643

 
2,411

 
(22,802
)
 
20,391

 
643

Net comprehensive income attributable to redeemable and noncontrolling interests
—

 
—

 
5,427

 
—

 
5,427

Comprehensive income (loss) attributable to Titan
$
643

 
$
2,411

 
$
(28,229
)
 
$
20,391

 
$
(4,784
)
 
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Consolidating Condensed Statements of Comprehensive Income (Loss)
For the Nine Months Ended September 30, 2015
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
(34,392
)
 
$
9,965

 
$
(18,434
)
 
$
8,469

 
$
(34,392
)
Currency translation adjustment
(69,394
)
 
—

 
(69,394
)
 
69,394

 
(69,394
)
Pension liability adjustments, net of tax
1,969

 
1,281

 
688

 
(1,969
)
 
1,969

Comprehensive income (loss)
(101,817
)
 
11,246

 
(87,140
)
 
75,894

 
(101,817
)
Net comprehensive loss attributable to redeemable and noncontrolling interests
—

 
—

 
(13,150
)
 
—

 
(13,150
)
Comprehensive income (loss) attributable to Titan
$
(101,817
)
 
$
11,246

 
$
(73,990
)
 
$
75,894

 
$
(88,667
)
 
 
 
 
 
 
 
 
 
 


(Amounts in thousands)
Consolidating Condensed Balance Sheets
September 30, 2016
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
145,088

 
$
14

 
$
70,407

 
$
—

 
$
215,509

Accounts receivable, net
—

 
52,179

 
132,173

 
—

 
184,352

Inventories
—

 
72,924

 
205,159

 
—

 
278,083

Prepaid and other current assets
9,387

 
21,292

 
46,293

 
—

 
76,972

Total current assets
154,475

 
146,409

 
454,032

 
—

 
754,916

Property, plant and equipment, net
5,728

 
126,342

 
315,012

 
—

 
447,082

Investment in subsidiaries
759,983

 
—

 
91,974

 
(851,957
)
 
—

Other assets
24,835

 
1,118

 
80,105

 
—

 
106,058

Total assets
$
945,021

 
$
273,869

 
$
941,123

 
$
(851,957
)
 
$
1,308,056

Liabilities and Equity
 

 
 

 
 

 
 

 
 

Short-term debt
$
60,071

 
$
—

 
$
30,959

 
$
—

 
$
91,030

Accounts payable
1,636

 
17,458

 
133,293

 
—

 
152,387

Other current liabilities
39,451

 
33,372

 
57,415

 
—

 
130,238

Total current liabilities
101,158

 
50,830

 
221,667

 
—

 
373,655

Long-term debt
395,610

 
—

 
14,479

 
—

 
410,089

Other long-term liabilities
27,143

 
17,687

 
56,206

 
—

 
101,036

Intercompany accounts
88,495

 
(294,580
)
 
206,085

 
—

 
—

Redeemable noncontrolling interest
—

 
—

 
102,793

 
—

 
102,793

Titan shareholders' equity
332,615

 
499,932

 
343,478

 
(851,957
)
 
324,068

Noncontrolling interests
—

 
—

 
(3,585
)
 
—

 
(3,585
)
Total liabilities and equity
$
945,021

 
$
273,869

 
$
941,123

 
$
(851,957
)
 
$
1,308,056

(Amounts in thousands)
Consolidating Condensed Balance Sheets
December 31, 2015
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
142,401

 
$
4

 
$
57,783

 
$
—

 
$
200,188

Accounts receivable, net
—

 
59,933

 
117,456

 
—

 
177,389

Inventories
—

 
81,993

 
187,798

 
—

 
269,791

Prepaid and other current assets
11,101

 
21,133

 
30,399

 
—

 
62,633

Total current assets
153,502

 
163,063

 
393,436

 
—

 
710,001

Property, plant and equipment, net
8,015

 
138,351

 
303,654

 
—

 
450,020

Investment in subsidiaries
724,676

 
—

 
98,660

 
(823,336
)
 
—

Other assets
29,180

 
1,181

 
79,848

 
—

 
110,209

Total assets
$
915,373

 
$
302,595

 
$
875,598

 
$
(823,336
)
 
$
1,270,230

Liabilities and Equity
 

 
 

 
 

 
 

 
 

Short-term debt
$
—

 
$
—

 
$
31,222

 
$
—

 
$
31,222

Accounts payable
2,215

 
12,386

 
108,553

 
—

 
123,154

Other current liabilities
30,466

 
41,818

 
43,437

 
—

 
115,721

Total current liabilities
32,681

 
54,204

 
183,212

 
—

 
270,097

Long-term debt
455,200

 
—

 
20,243

 
—

 
475,443

Other long-term liabilities
29,881

 
20,628

 
52,324

 
—

 
102,833

Intercompany accounts
52,552

 
(271,930
)
 
219,378

 
—

 
—

Redeemable noncontrolling interest
—

 
—

 
77,174

 
—

 
77,174

Titan shareholders' equity
345,059

 
499,693

 
323,643

 
(823,336
)
 
345,059

Noncontrolling interests
—

 
—

 
(376
)
 
—

 
(376
)
Total liabilities and equity
$
915,373

 
$
302,595

 
$
875,598

 
$
(823,336
)
 
$
1,270,230





(Amounts in thousands)
Consolidating Condensed Statements of Cash Flows
For the Nine Months Ended September 30, 2016
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Consolidated
Net cash provided by operating activities
$
4,154

 
$
5,553

 
$
44,277

 
$
53,984

Cash flows from investing activities:
 

 
 

 
 

 
 

Capital expenditures
(657
)
 
(5,616
)
 
(24,573
)
 
(30,846
)
Other, net
—

 
73

 
1,614

 
1,687

Net cash used for investing activities
(657
)
 
(5,543
)
 
(22,959
)
 
(29,159
)
Cash flows from financing activities:
 

 
 

 
 

 
 

Proceeds from borrowings
—

 
—

 
2,390

 
2,390

Payment on debt
—

 
—

 
(14,042
)
 
(14,042
)
Dividends paid
(810
)
 
—

 
—

 
(810
)
Net cash used for financing activities
(810
)
 
—

 
(11,652
)
 
(12,462
)
Effect of exchange rate change on cash
—

 
—

 
2,958

 
2,958

Net increase in cash and cash equivalents
2,687

 
10

 
12,624

 
15,321

Cash and cash equivalents, beginning of period
142,401

 
4

 
57,783

 
200,188

Cash and cash equivalents, end of period
$
145,088

 
$
14

 
$
70,407

 
$
215,509

 
(Amounts in thousands)
Consolidating Condensed Statements of Cash Flows
For the Nine Months Ended September 30, 2015
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Consolidated
Net cash provided by operating activities
$
9,581

 
$
4,532

 
$
16,423

 
$
30,536

Cash flows from investing activities:
 

 
 

 
 

 
 

Capital expenditures
(1,121
)
 
(4,562
)
 
(29,530
)
 
(35,213
)
Other, net
—

 
30

 
4,287

 
4,317

Net cash used for investing activities
(1,121
)
 
(4,532
)
 
(25,243
)
 
(30,896
)
Cash flows from financing activities:
 

 
 

 
 

 
 

Proceeds from borrowings
—

 
—

 
14,566

 
14,566

Payment on debt
—

 
—

 
(11,382
)
 
(11,382
)
Proceeds from exercise of stock options
144

 
—

 
—

 
144

Excess tax benefit from stock-based compensation
(758
)
 
—

 
—

 
(758
)
Dividends paid
(807
)
 
—

 
—

 
(807
)
Net cash provided by (used for) financing activities
(1,421
)

—


3,184


1,763

Effect of exchange rate change on cash
—

 
—

 
(9,042
)
 
(9,042
)
Net increase (decrease) in cash and cash equivalents
7,039

 
—

 
(14,678
)
 
(7,639
)
Cash and cash equivalents, beginning of period
129,985

 
4

 
71,462

 
201,451

Cash and cash equivalents, end of period
$
137,024

 
$
4

 
$
56,784

 
$
193,812