10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 10-Q

þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For Quarterly Period Ended: June 30, 2018

or

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number 1-12936

TITAN INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

Delaware	36-3228472
(State of Incorporation)	(I.R.S. Employer Identification No.)

2701 Spruce Street, Quincy, IL 62301

(Address of principal executive offices, including Zip Code)

(217) 228-6011

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.  Yes  þ No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes þ  No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.  See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ¨	Accelerated filer þ
Non-accelerated filer o (Do not check if a smaller reporting company)	Smaller reporting company o
Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes o  No þ

Indicate the number of shares of Titan International, Inc. outstanding: 59,897,619 shares common stock, $0.0001 par value, as of July 25, 2018.

TITAN INTERNATIONAL, INC.

TABLE OF CONTENTS

		Page
Part I.	Financial Information
Item 1.	Financial Statements (Unaudited)
	Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2018 and 2017	1
	Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended June 30, 2018 and 2017	2
	Condensed Consolidated Balance Sheets as of June 30, 2018, and December 31, 2017	3
	Condensed Consolidated Statement of Changes in Equity for the Six Months Ended June 30, 2018	4
	Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2018 and 2017	5
	Notes to Condensed Consolidated Financial Statements	6
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	26
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	37
Item 4.	Controls and Procedures	37
Part II.	Other Information
Item 1.	Legal Proceedings	38
Item 1A.	Risk Factors	38
Item 6.	Exhibits	38
	Signatures	39

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

TITAN INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(All amounts in thousands, except per share data)

	Three months ended						Six months ended
	June 30,						June 30,
	2018			2017			2018			2017
Net sales	$	428,904		$	364,399		$	854,286		$	721,900
Cost of sales	370,592			320,379			736,413			637,679
Gross profit	58,312			44,020			117,873			84,221
Selling, general and administrative expenses	36,699			34,463			72,620			75,801
Research and development expenses	2,754			2,608			5,631			5,451
Royalty expense	2,634			2,533			5,297			5,142
Income (loss) from operations	16,225			4,416			34,325			(2,173		)
Interest expense	(7,672		)	(7,320		)	(15,190		)	(15,041		)
Foreign exchange loss	(3,610		)	(5,257		)	(8,042		)	(767		)
Other income	2,477			1,750			10,227			4,427
Income (loss) before income taxes	7,420			(6,411		)	21,320			(13,554		)
Provision for income taxes	1,683			126			897			3,568
Net income (loss)	5,737			(6,537		)	20,423			(17,122		)
Net income (loss) attributable to noncontrolling interests	40			(244		)	(1,639		)	624
Net income (loss) attributable to Titan	5,697			(6,293		)	22,062			(17,746		)
Redemption value adjustment	(4,678		)	(4,040		)	(7,021		)	(3,099		)
Net income (loss) applicable to common shareholders	$	1,019		$	(10,333	)	$	15,041		$	(20,845	)
Earnings per common share:
Basic	$	0.02		$	(0.17	)	$	0.25		$	(0.35	)
Diluted	$	0.02		$	(0.17	)	$	0.25		$	(0.35	)
Average common shares and equivalents outstanding:
Basic	59,750			59,577			59,731			59,067
Diluted	59,878			59,577			59,877			59,067
Dividends declared per common share:	$	0.005		$	0.005		$	0.010		$	0.010

See accompanying Notes to Condensed Consolidated Financial Statements.

1

TITAN INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

(All amounts in thousands)

	Three months ended
	June 30,
	2018			2017
Net income (loss)	$	5,737		$	(6,537	)
Currency translation adjustment	(38,338		)	8,006
Pension liability adjustments, net of tax of $10 and $(97), respectively	690			989
Comprehensive (loss) income	(31,911		)	2,458
Net comprehensive loss attributable to redeemable and noncontrolling interests	(2,185		)	(1,562		)
Comprehensive (loss) income attributable to Titan	$	(29,726	)	$	4,020

	Six months ended
	June 30,
	2018			2017
Net income (loss)	$	20,423		$	(17,122	)
Currency translation adjustment	(30,276		)	19,025
Pension liability adjustments, net of tax of $(44) and $(111), respectively	1,573			1,722
Comprehensive (loss) income	(8,280		)	3,625
Net comprehensive (loss) income attributable to redeemable and noncontrolling interests	(3,225		)	1,221
Comprehensive (loss) income attributable to Titan	$	(5,055	)	$	2,404

See accompanying Notes to Condensed Consolidated Financial Statements.

2

TITAN INTERNATIONAL, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share data)

	June 30, 2018			December 31, 2017
	(unaudited)
Assets
Current assets
Cash and cash equivalents	$	106,491		$	143,570
Accounts receivable, net	282,400			226,703
Inventories	372,732			339,836
Prepaid and other current assets	74,629			73,084
Total current assets	836,252			783,193
Property, plant and equipment, net	393,264			421,248
Deferred income taxes	2,325			3,779
Other assets	78,529			81,892
Total assets	$	1,310,370		$	1,290,112
Liabilities
Current liabilities
Short-term debt	$	52,358		$	43,651
Accounts payable	226,041			195,497
Other current liabilities	129,057			133,774
Total current liabilities	407,456			372,922
Long-term debt	409,613			407,171
Deferred income taxes	11,765			13,545
Other long-term liabilities	66,032			73,197
Total liabilities	894,866			866,835
Redeemable noncontrolling interest	117,546			113,193
Equity
Titan shareholders' equity
Common stock ($0.0001 par value, 120,000,000 shares authorized, 60,715,356 issued, 59,852,781 outstanding at June 30, 2018 and 59,800,559 outstanding at December 31, 2017)	—			—
Additional paid-in capital	524,466			531,708
Retained deficit	(22,471		)	(44,022		)
Treasury stock (at cost, 862,575 and 914,797 shares, respectively)	(8,407		)	(8,606		)
Stock reserved for deferred compensation	—			(1,075		)
Accumulated other comprehensive loss	(188,518		)	(157,076		)
Total Titan shareholders’ equity	305,070			320,929
Noncontrolling interests	(7,112		)	(10,845		)
Total equity	297,958			310,084
Total liabilities and equity	$	1,310,370		$	1,290,112

 See accompanying Notes to Condensed Consolidated Financial Statements.

3

TITAN INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED)

(All amounts in thousands, except share data)

	Number of common shares	Additional paid-in capital			Retained earnings (deficit)			Treasury stock			Stock  reserved for deferred compensation			Accumulated other comprehensive (loss) income			Total Titan Equity			Noncontrolling interest			Total Equity
Balance January 1, 2018	59,800,559	$	531,708		$	(44,022	)	$	(8,606	)	$	(1,075	)	$	(157,076	)	$	320,929		$	(10,845	)	$	310,084
Net income (loss) *					22,062												22,062			(1,178		)	20,884
Currency translation adjustment, net *														(28,690		)	(28,690		)	621			(28,069		)
Pension liability adjustments, net of tax														1,573			1,573						1,573
Dividends declared					(599		)										(599		)				(599		)
Accounting standards adoption					88												88			35			123
Restricted stock awards	30,000																—						—
Acquisition of additional interest		(1,032		)										(4,325		)	(5,357		)	5,208			(149		)
Redemption value adjustment		(7,021		)													(7,021		)				(7,021		)
Stock-based compensation		618															618						618
VIE distributions																	—			(953		)	(953		)
Deferred compensation transactions		113									1,075						1,188						1,188
Issuance of treasury stock under 401(k) plan	22,222	80						199									279						279
Balance June 30, 2018	59,852,781	$	524,466		$	(22,471	)	$	(8,407	)	$	—		$	(188,518	)	$	305,070		$	(7,112	)	$	297,958

* Net income (loss) excludes $(461) of net loss attributable to redeemable noncontrolling interest. Currency translation adjustment excludes $(2,207) of currency translation related to redeemable noncontrolling interest.

See accompanying Notes to Condensed Consolidated Financial Statements.

4

TITAN INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(All amounts in thousands)

	Six months ended June 30,
Cash flows from operating activities:	2018			2017
Net income (loss)	$	20,423		$	(17,122	)
Adjustments to reconcile net income (loss) to net cash used for operating activities:
Depreciation and amortization	30,175			29,486
Deferred income tax provision	287			1,324
Stock-based compensation	618			956
Issuance of treasury stock under 401(k) plan	279			270
Foreign currency translation loss	8,034			2,467
(Increase) decrease in assets:
Accounts receivable	(70,633		)	(34,879		)
Inventories	(47,612		)	(43,722		)
Prepaid and other current assets	(4,555		)	2,877
Other assets	(621		)	3,620
Increase (decrease) in liabilities:
Accounts payable	39,550			33,149
Other current liabilities	(660		)	(4,922		)
Other liabilities	(5,212		)	(4,057		)
Net cash used for operating activities	(29,927		)	(30,553		)
Cash flows from investing activities:
Capital expenditures	(18,416		)	(15,152		)
Certificates of deposit	—			40,000
Other	884			1,038
Net cash (used for) provided by investing activities	(17,532		)	25,886
Cash flows from financing activities:
Proceeds from borrowings	40,078			27,742
Payment on debt	(24,527		)	(29,077		)
Dividends paid	(598		)	(570		)
Net cash provided by (used for) financing activities	14,953			(1,905		)
Effect of exchange rate changes on cash	(4,573		)	1,981
Net decrease in cash and cash equivalents	(37,079		)	(4,591		)
Cash and cash equivalents, beginning of period	143,570			147,827
Cash and cash equivalents, end of period	$	106,491		$	143,236
Supplemental information:
Interest paid	$	15,801		$	17,916
Income taxes paid, net of refunds received	$	5,025		$	3,221
Noncash investing and financing information:
Issuance of common stock for convertible debt payment	$	—		$	58,460

See accompanying Notes to Condensed Consolidated Financial Statements.

5

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

The accompanying unaudited condensed consolidated interim financial statements include the accounts of Titan International, Inc. and its subsidiaries (Titan or the Company) and have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP) for interim financial information and in accordance with the rules and regulations of the United States Securities and Exchange Commission (the SEC). Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. These unaudited condensed consolidated interim financial statements reflect all normal, and recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the Company's financial position as of June 30, 2018, and the results of operations and cash flows for the three and six months ended June 30, 2018 and 2017, and should be read in conjunction with the consolidated financial statements and the related notes thereto included in the Company’s latest Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC on February 23, 2018. All significant intercompany transactions have been eliminated in consolidation. These unaudited condensed consolidated interim financial statements include estimates and assumptions of management that affect the amounts reported in the condensed consolidated financial statements. Actual results could differ from these estimates.

Fair value of financial instruments

The Company records all financial instruments, including cash and cash equivalents, accounts receivable, notes receivable, accounts payable, other accruals, and notes payable at cost, which approximates fair value due to their short term or stated rates.  Investments in marketable equity securities are recorded at fair value.  The 6.50% senior secured notes due 2023 (senior secured notes) were carried at cost of $394.7 million at June 30, 2018. The fair value of the senior secured notes at June 30, 2018, as obtained through an independent pricing source, was approximately $397.0 million.

Cash dividends

The Company declared cash dividends of $0.005 and $0.010 per share of common stock for each of the three and six months ended June 30, 2018 and 2017. The second quarter 2018 cash dividend of $0.005 per share of common stock was paid on July 16, 2018, to shareholders of record on June 29, 2018.

New accounting standards:

Adoption of new accounting standards

The Company adopted the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 606, "Revenue from Contracts with Customers" (the New Revenue Standard), effective January 1, 2018, using the modified retrospective approach. ASC 606 prescribes that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides a five-step process to achieve that core principle:

• Identify the contract(s) with a customer

• Identify the performance obligations

• Determine the transaction price

• Allocate the transaction price

• Recognize revenue when the performance obligations are met

The Company compared its current revenue recognition policies to the requirements of the New Revenue Standard. Titan recognizes revenue when the performance obligations specified in the Company's contracts have been satisfied. Titan's contracts typically contain a single performance obligation that is fulfilled on the date of delivery based on shipping terms stipulated in the contract. As of January 1, 2018, none of the Company's contracts contained a financing option and Titan did not have any contract assets or liabilities. The table below presents the cumulative effect of the adoption of the New Revenue Standard on select accounts of Titan's Condensed Consolidated Balance Sheet at January 1, 2018 (amounts in thousands):

6

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

	Balance at December 31, 2017			New Revenue Standard Adjustments			Balance at January 1, 2018
Assets
Inventories	$	339,836		$	(390	)	$	339,446
Liabilities
Other current liabilities	133,774			(513		)	133,261
Equity
Retained (deficit) earnings	(44,022		)	88			(43,934		)
Noncontrolling interests	(10,845		)	35			(10,810		)

Disaggregated Revenues

The following table presents revenues disaggregated by the major markets Titan serves (amounts in thousands):

	Three months ended				Six months ended
	June 30,				June 30,
	2018		2017		2018		2017
Net sales
Agricultural	$	186,870	$	172,923	$	381,037	$	353,439
Earthmoving/construction	198,963		150,970		387,696		286,589
Consumer	43,071		40,506		85,553		81,872
	$	428,904	$	364,399	$	854,286	$	721,900

The Company adopted Accounting Standards Update (ASU) No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost" on January 1, 2018, using the retrospective transition method. This standard changed the presentation of net periodic pension and postretirement benefit cost (net benefit cost) within the Statement of Operations. Under the previous guidance, net benefit cost was reported as an employee cost within operating income. The amendment requires the bifurcation of net benefit cost, with the service cost component to be presented with other employee compensation costs in operating income, while the other components will be reported separately outside of income from operations. The adoption of this accounting standard resulted in a change in certain previously reported amounts, whereby the Company reclassed $0.4 million and $0.9 million of non-service cost from cost of sales to other income on the Condensed Consolidated Statement of Operations for the three and six months ended June 30, 2017, respectively. See Note 11 - Employee Benefit Plans in Part I, Item 1 of this Form 10-Q for further discussion.

In March 2018, the FASB issued ASU No. 2018-05, "Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118." This ASU updates the income tax accounting in US GAAP to reflect the SEC's interpretive guidance released on December 22, 2017, when the 2017 Tax Cuts and Jobs Act (2017 TCJA) was enacted. See Note 15 for more information regarding the impact of the 2017 TCJA.

In May 2017, the FASB issued ASU No. 2017-09, "Stock Compensation (Topic 718): Scope of Modification Accounting." This update provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Disclosure requirements under Topic 718 remain unchanged. The Company adopted ASU 2017-09 effective January 1, 2018. The adoption of this guidance did not have a material effect on the Company's consolidated financial statements; no changes were made to the terms or conditions of share-based payments.

In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments." This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The Company adopted this guidance effective January 1, 2018, with no resulting changes to the Company's consolidated financial statements.

7

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Accounting standards issued but not yet adopted

In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)." This update was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The primary effect of adopting the new standard will be to record assets and obligations for the Company's operating leases. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of ASU 2016-02.

In February 2018, the FASB issued ASU No. 2018-02, "Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the 2017 TCJA. Consequently, the amendments eliminate the stranded tax effects resulting from the 2017 TCJA and will improve the usefulness of information reported to financial statement users. The amendments in this update are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating the impact of ASU 2018-02.

2. ACCOUNTS RECEIVABLE

Accounts receivable consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018			December 31, 2017
Accounts receivable	$	285,712		$	229,677
Allowance for doubtful accounts	(3,312		)	(2,974		)
Accounts receivable, net	$	282,400		$	226,703

Accounts receivable are reduced by an estimated allowance for doubtful accounts, which is based on known risks and historical losses.

3. INVENTORIES

Inventories consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018		December 31, 2017
Raw material	$	99,198	$	83,541
Work-in-process	45,069		40,525
Finished goods	228,465		215,770
	$	372,732	$	339,836

Inventories are valued at the lower of cost or net realizable value. Net realizable value is estimated based on current selling prices. Inventory costs are calculated using the first-in, first-out (FIFO) method or average cost method. Estimated provisions are established for slow-moving and obsolete inventory.

8

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

4. PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018			December 31, 2017
Land and improvements	$	44,145		$	46,998
Buildings and improvements	255,716			264,078
Machinery and equipment	592,557			598,411
Tools, dies and molds	108,987			108,649
Construction-in-process	15,179			15,349
	1,016,584			1,033,485
Less accumulated depreciation	(623,320		)	(612,237		)
	$	393,264		$	421,248

Depreciation on property, plant and equipment for the six months ended June 30, 2018 and 2017, totaled $28.3 million and $27.4 million, respectively.

Capital leases included in property, plant, and equipment consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018			December 31, 2017
Buildings and improvements	$	3,897		$	4,056
Less accumulated amortization	(2,257		)	(2,294		)
	$	1,640		$	1,762
Machinery and equipment	$	31,633		$	32,379
Less accumulated amortization	(26,694		)	(27,260		)
	$	4,939		$	5,119

5. INTANGIBLE ASSETS

The components of intangible assets consisted of the following as of the dates set forth below (amounts in thousands):

	Weighted Average Useful Lives (in years) June 30, 2018	June 30, 2018			December 31, 2017
Amortizable intangible assets:
Customer relationships	9.2	$	13,609		$	13,922
Patents, trademarks and other	7.6	14,328			15,208
Total at cost		27,937			29,130
Less accumulated amortization		(14,614		)	(13,855		)
		$	13,323		$	15,275

Amortization related to intangible assets for the six months ended June 30, 2018 and 2017, totaled $1.3 million and $1.5 million, respectively. Intangible assets are included as a component of other assets in the Condensed Consolidated Balance Sheet.

9

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

The estimated aggregate amortization expense at June 30, 2018, for each of the years (or other periods) set forth below was as follows (amounts in thousands):

July 1 - December 31, 2018	$	1,203
2019	2,306
2020	2,285
2021	1,164
2022	1,067
Thereafter	5,298
	$	13,323

6. WARRANTY

Changes in the warranty liability consisted of the following (amounts in thousands):

	2018			2017
Warranty liability, January 1	$	18,612		$	17,926
Provision for warranty liabilities	4,213			3,112
Warranty payments made	(3,818		)	(3,378		)
Warranty liability, June 30	$	19,007		$	17,660

The Company provides limited warranties on workmanship on its products in all market segments. The majority of the Company’s products are subject to a limited warranty that ranges between less than one year and ten years, with certain product warranties being prorated after the first year. The Company calculates a provision for warranty expense based on past warranty experience. Warranty accruals are included as a component of other current liabilities on the Condensed Consolidated Balance Sheet.

7. REVOLVING CREDIT FACILITY AND LONG-TERM DEBT

Long-term debt consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018
	Principal Balance		Unamortized Debt Issuance			Net Carrying Amount
6.50% senior secured notes due 2023	$	400,000	$	(5,304	)	$	394,696
Titan Europe credit facilities	34,186		—			34,186
Other debt	32,569		—			32,569
Capital leases	520		—			520
Total debt	467,275		(5,304		)	461,971
Less amounts due within one year	52,358		—			52,358
Total long-term debt	$	414,917	$	(5,304	)	$	409,613

10

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

	December 31, 2017
	Principal Balance		Unamortized Debt Issuance			Net Carrying Amount
6.50% senior secured notes due 2023	$	400,000	$	(5,716	)	$	394,284
Titan Europe credit facilities	33,485		—			33,485
Other debt	22,564		—			22,564
Capital leases	489		—			489
Total debt	456,538		(5,716		)	450,822
Less amounts due within one year	43,651		—			43,651
Total long-term debt	$	412,887	$	(5,716	)	$	407,171

Aggregate principal maturities of long-term debt at June 30, 2018, for each of the years (or other periods) set forth below were as follows (amounts in thousands):

July 1 - December 31, 2018	$	25,358
2019	29,832
2020	8,535
2021	2,921
2022	254
Thereafter	400,375
	$	467,275

6.50% senior secured notes due 2023

The senior secured notes are due November 2023. Including the impact of debt issuance costs, these notes had an effective yield of 6.79% at issuance. These notes are secured by the land and buildings of the following subsidiaries of the Company:  Titan Tire Corporation, Titan Tire Corporation of Bryan, Titan Tire Corporation of Freeport, and Titan Wheel Corporation of Illinois.

Titan Europe credit facilities

The Titan Europe credit facilities contain borrowings from various institutions totaling $34.2 million in aggregate principal amount at June 30, 2018. Maturity dates on this debt range from less than one year to nine years and interest rates range from 5% to 6.9%. The Titan Europe facilities are secured by the assets of Titan's subsidiaries in Italy, Spain, Germany, and Brazil.

Revolving credit facility

The Company has a $75 million revolving credit facility (credit facility) with agent BMO Harris Bank N.A. and other financial institutions party thereto. The credit facility is collateralized by accounts receivable and inventory of certain of the Company’s domestic subsidiaries and is scheduled to mature in February 2022. From time to time Titan's availability under this credit facility may be less than $75 million as a result of outstanding letters of credit and eligible accounts receivable and inventory balances at certain of its domestic subsidiaries. At June 30, 2018, an outstanding letter of credit under the credit facility totaled $12.3 million and the amount available under the facility totaled $62.7 million based upon eligible accounts receivable and inventory balances. During the first six months of 2018 and at June 30, 2018, there were no borrowings under the credit facility.

Other debt

The Company has working capital loans at Titan Pneus do Brasil Ltda and Voltyre-Prom at various interest rates, which totaled $8.7 million and $23.8 million at June 30, 2018, respectively. Maturity dates on this debt range from less than one year to three years.

11

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

8. DERIVATIVE FINANCIAL INSTRUMENTS

The Company uses financial derivatives to mitigate its exposure to volatility in foreign currency exchange rates. These derivative financial instruments are recognized at fair value. The Company has not designated these financial instruments as hedging instruments. Any gain or loss on the re-measurement of the fair value is recorded as an offset to currency exchange gain/loss. For the three and six months ended June 30, 2018, the Company recorded currency exchange gain related to these derivatives of $0.4 million and $0.2 million, respectively.

9. REDEEMABLE NONCONTROLLING INTEREST

The Company, in partnership with One Equity Partners (OEP) and the Russian Direct Investment Fund (RDIF), owns all of the equity interests in Voltyre-Prom, a leading producer of agricultural and industrial tires in Volgograd, Russia. The Company is party to a shareholders' agreement with OEP and RDIF which was entered into in connection with the acquisition of Voltyre-Prom. The agreement contains a settlement put option which is exercisable during a six-month period beginning July 9, 2018, and may require Titan to purchase the equity interests from OEP and RDIF in Voltyre-Prom with cash or Titan common stock, at a value set by the agreement. The value set by the agreement is the greater of: the aggregate of the investment of the selling party and an amount representing an internal rate of return of 8%; or the last twelve months of EBITDA multiplied by 5.5 less net debt times the selling party's ownership percentage. As of June 30, 2018, the value of the redeemable noncontrolling interest held by OEP and RDIF was recorded at the aggregate of the investment of the selling party and an amount representing an internal rate of return of 8%.

The redemption features of the settlement put option are not solely within the Company’s control and the noncontrolling interest is presented as a redeemable noncontrolling interest separately from total equity in the Condensed Consolidated Balance Sheet at the redemption value of the settlement put option. If the redemption value is greater than the carrying value of the noncontrolling interest, the increase in the redemption value is adjusted directly to retained earnings of the affected entity, or additional paid-in capital if there are no available retained earnings applicable to the redeemable noncontrolling interest.

The following is a reconciliation of redeemable noncontrolling interest as of June 30, 2018 and 2017 (amounts in thousands):

	2018			2017
Balance at January 1	$	113,193		$	104,809
Loss attributable to redeemable noncontrolling interest	(461		)	(190		)
Currency translation	(2,207		)	1,121
Redemption value adjustment	7,021			3,099
Balance at June 30	$	117,546		$	108,839

This obligation approximates the cost to the Company if all remaining equity interests in the consortium were purchased by the Company on June 30, 2018, and is presented in the Condensed Consolidated Balance Sheet in redeemable noncontrolling interest, which is treated as mezzanine equity.

12

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

10. LEASE COMMITMENTS

The Company leases certain buildings and equipment under operating leases.  Certain lease agreements provide for renewal options, fair value purchase options, and payment of property taxes, maintenance, and insurance by the Company. 

At June 30, 2018, future minimum rental commitments under noncancellable operating leases with initial terms of at least one year were as follows (amounts in thousands):

July 1 - December 31, 2018	$	4,177
2019	7,185
2020	5,050
2021	4,006
2022	3,034
Thereafter	6,831
Total future minimum lease payments	$	30,283

At June 30, 2018, the Company had assets held as capital leases with a net book value of $6.6 million included in property, plant and equipment. At June 30, 2018, total future capital lease obligations relating to these leases were as follows (amounts in thousands):

July 1 - December 31, 2018	$	168
2019	159
2020	55
2021	41
2022	43
Thereafter	53
Total future capital lease obligation payments	519
Less amount representing interest	(4		)
Present value of future capital lease obligation payments	$	515

11. EMPLOYEE BENEFIT PLANS

The Company has three frozen defined benefit pension plans covering certain employees or former employees of three U.S. subsidiaries. The Company also has pension plans covering certain employees of several foreign subsidiaries. The Company also sponsors a number of defined contribution plans in the U.S. and at foreign subsidiaries. The Company contributed approximately $1.7 million to the pension plans during the six months ended June 30, 2018, and expects to contribute approximately $3.7 million to the pension plans during the remainder of 2018.

The components of net periodic pension cost consisted of the following for the periods set forth below (amounts in thousands):

	Three months ended						Six months ended
	June 30,						June 30,
	2018			2017			2018			2017
Service cost	$	141		$	128		$	278		$	353
Interest cost	1,098			1,163			2,181			2,334
Expected return on assets	(1,491		)	(1,368		)	(2,983		)	(2,737		)
Amortization of unrecognized prior service cost	50			34			100			68
Amortization of net unrecognized loss	690			655			1,366			1,329
Net periodic pension cost	$	488		$	612		$	942		$	1,347

Service cost is recorded as cost of sales in the Condensed Consolidated Statement of Operations while all other components are recorded in other income.

13

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

12. VARIABLE INTEREST ENTITIES

The Company holds a variable interest in three joint ventures for which the Company is the primary beneficiary. Two of the joint ventures operate distribution facilities which primarily distribute mining products. Titan is the 50% owner of one of these distribution facilities, which is located in Canada, and the 40% owner of the other such facility, which is located in Australia. The Company’s variable interest in these joint ventures relates to sales of Titan product to these entities, consigned inventory, and working capital loans. The third joint venture is the consortium which owns Voltyre-Prom. Titan owns 43% of the consortium owning Voltyre-Prom, which is subject to a shareholder agreement containing a settlement put option which may require Titan to purchase the remaining equity interests in the consortium. See Note 9 for additional information.

The Company also holds a variable interest in five other entities for which Titan is the primary beneficiary. Each of these entities provides specific manufacturing related services at the Company's Tennessee facility. Titan's variable interest in these entities relates to financial support to the entities through providing many of the assets used by these entities in their business. The Company owns no equity in these entities.

As the primary beneficiary of these variable interest entities (VIEs), the entities’ assets, liabilities, and results of operations are included in the Company’s consolidated financial statements. The other equity holders’ interests are reflected in “Net income (loss) attributable to noncontrolling interests” in the Condensed Consolidated Statements of Operations and “Noncontrolling interests” in the Condensed Consolidated Balance Sheets.

The following table summarizes the carrying amount of the entities’ assets and liabilities included in the Company’s Condensed Consolidated Balance Sheets at June 30, 2018, and December 31, 2017 (amounts in thousands):

	June 30, 2018		December 31, 2017
Cash and cash equivalents	$	8,911	$	10,621
Inventory	12,599		13,494
Other current assets	39,244		36,334
Property, plant and equipment, net	31,262		33,717
Other noncurrent assets	3,880		4,250
Total assets	$	95,896	$	98,416
Current liabilities	$	36,749	$	32,172
Noncurrent liabilities	7,613		8,291
Total liabilities	$	44,362	$	40,463

All assets in the above table can only be used to settle obligations of the consolidated VIE to which the respective assets relate. Liabilities are nonrecourse obligations. Amounts presented in the table above are adjusted for intercompany eliminations.

The Company holds variable interests in certain VIEs which are not consolidated because Titan is not the primary beneficiary. The Company's involvement with these entities is in the form of direct equity interests and prepayments and purchases of materials. The maximum exposure to loss represents the loss of assets recognized by Titan relating to non-consolidated entities and amounts due to the non-consolidated assets. The assets and liabilities recognized in Titan's Condensed Consolidated Balance Sheets related to Titan's interest in these non-consolidated VIEs and the Company's maximum exposure to loss relating to non-consolidated VIEs as of the dates set forth below were as follows (amounts in thousands):

	June 30, 2018		December 31, 2017
Investments	$	4,034	$	3,823
Other current assets	1,267		1,261
Total VIE assets	5,301		5,084
Accounts payable	1,972		1,413
Maximum exposure to loss	$	7,273	$	6,497

14

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

13. ROYALTY EXPENSE

The Company has trademark license agreements with The Goodyear Tire & Rubber Company to manufacture and sell certain farm tires under the Goodyear name. These agreements cover sales in North America, Latin America, Europe, the Middle East, Africa, Russia, and other Commonwealth of Independent States countries. Each of these agreements expire in 2025. The Company also has a trademark license agreement with Goodyear to manufacture and sell certain non-farm tire products in Latin America which expires in June 2019. Royalty expenses recorded were $2.6 million and $2.5 million for the three months ended June 30, 2018 and 2017, respectively. Royalty expenses recorded were $5.3 million and $5.1 million for the six months ended June 30, 2018 and 2017, respectively.

14. OTHER INCOME

Other income consisted of the following for the periods set forth below (amounts in thousands):

	Three months ended						Six months ended
	June 30,						June 30,
	2018			2017			2018		2017
Equity investment income	$	1,067		$	530		$	2,183	$	1,350
Interest income	532			801			1,149		1,774
Building rental income	410			595			988		1,195
Investment gain related to investments for deferred compensation	567			497			688		1,347
Other (expense) income	(99		)	(673		)	5,219		(1,239		)
	$	2,477		$	1,750		$	10,227	$	4,427

15. INCOME TAXES

The Company recorded income tax expense of $1.7 million and $0.1 million for the quarters ended June 30, 2018 and 2017, respectively. For the six months ended June 30, 2018 and 2017, the Company recorded income tax expense of $0.9 million and $3.6 million, respectively. The Company's effective income tax rate was 23% and (2)% for the quarters ended June 30, 2018 and 2017, and 4% and (26)% for the six months ended June 30, 2018 and 2017, respectively.

The Company’s 2018 income tax expense and rate differed from the amount of income tax determined by applying the U.S. Federal income tax rate to pre-tax income primarily as a result of a reduction of the liability for unrecognized tax positions and U.S. and certain foreign jurisdictions that incurred a full valuation allowance on deferred tax assets created by current year projected losses. In addition, there were non-deductible royalty expenses and statutorily required income adjustments made in certain foreign jurisdictions that negatively impacted the tax rate for the six months ended June 30, 2018.

The Company’s 2017 income tax expense and rate differed from the amount of income tax determined by applying the U.S. Federal income tax rate to pre-tax income primarily as a result of U.S. and certain foreign jurisdictions that incurred a full valuation allowance on deferred tax assets created by current year projected losses. In addition, there were non-deductible royalty expenses and statutorily required income adjustments made in certain foreign jurisdictions that negatively impacted the tax rate for the period. During the second quarter of 2017, the IRS income tax audit for tax years 2010 through 2014 was settled, which did not result in any material change to the Company's income tax expense.

The Company continues to monitor the realization of its deferred tax assets and assesses the need for a valuation allowance. The Company analyzes available positive and negative evidence to determine if a valuation allowance is needed based on the weight of the evidence. This objectively verifiable evidence primarily includes the past three years' profit and loss positions. This process requires management to make estimates, assumptions, and judgments that are uncertain in nature. The Company has established valuation allowances with respect to deferred tax assets in U.S. and certain foreign jurisdictions and continues to monitor and assess potential valuation allowances in all its jurisdictions.

15

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

The 2017 TCJA was enacted on December 22, 2017, and includes a number of changes to the Internal Revenue Code including a one-time transition tax on the mandatory deemed repatriation of cumulative undistributed foreign earnings and a permanent reduction in the U.S. federal statutory income tax rate from 35% to 21% effective on January 1, 2018.  The 2017 TCJA also created a new requirement that certain income (i.e., global intangible low taxed income, or GILTI) earned by foreign subsidiaries must be included currently in the gross income of the U.S. shareholder.  Consistent with guidance issued by SEC Staff Accounting Bulletin (SAB) No. 118, which provides for a measurement period of one year from the enactment date to finalize the accounting for effects of the 2017 TCJA, the Company has provisionally recorded no additional income tax expense related to the one-time mandatory deemed repatriation provision of the 2017 TCJA. For 2018, the Company has estimated an amount of GILTI income which is included in the calculation of 2018 income tax expense. This GILTI income inclusion, however, is fully offset by a change in the valuation allowance. The remeasurement of the U.S. net deferred asset from the 2017 corporate income tax rate change was fully offset by a change in the valuation allowance in 2017.

16. EARNINGS PER SHARE

Earnings per share (EPS) were as follows for the periods presented below (amounts in thousands, except per share data):

	Three months ended						Six months ended
	June 30,						June 30,
	2018			2017			2018			2017
Net income (loss) attributable to Titan	$	5,697		$	(6,293	)	$	22,062		$	(17,746	)
Redemption value adjustment	(4,678		)	(4,040		)	(7,021		)	(3,099		)
Net income (loss) applicable to common shareholders	$	1,019		$	(10,333	)	$	15,041		$	(20,845	)
Determination of shares:
Weighted average shares outstanding (basic)	59,750			59,577			59,731			59,067
Effect of stock options/trusts	128			—			146			—
Weighted average shares outstanding (diluted)	59,878			59,577			59,877			59,067
Earnings per share:
Basic and diluted	0.02			(0.17		)	0.25			(0.35		)

The effect of stock options, shares held by certain trusts, and convertible notes has been excluded from the calculation of EPS for the three and six months ended June 30, 2017, as the effect would have been antidilutive. The weighted average share amount excluded for stock options and shares held by certain trusts was 0.2 million for each of the three and six months ended June 30, 2017. The weighted average share amount excluded for convertible notes totaled 0.5 million shares for the six months ended June 30, 2017.

16

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

17. LITIGATION

The Company is a party to routine legal proceedings arising out of the normal course of business. Due to the difficult nature of predicting unresolved and future legal claims, the Company cannot anticipate or predict the material adverse effect on its consolidated financial condition, results of operations, or cash flows as a result of efforts to comply with, or liabilities pertaining to, legal judgments.

At June 30, 2018, two of Titan’s subsidiaries were involved in litigation concerning environmental laws and regulations.

In June 2015, Titan Tire Corporation (Titan Tire) and Dico, Inc. (Dico) appealed a U.S. District Court order granting the U.S. motion for summary judgment that found Dico liable for violating the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) and an Environmental Protection Agency (EPA) Administrative Order and awarded response costs, civil penalties, and punitive damages.

In December 2015, the United States Court of Appeals for the Eighth Circuit reversed the District Court’s summary judgment order with respect to “arranger” liability for Titan Tire and Dico under CERCLA and the imposition of punitive damages against Dico for violating the EPA Administrative Order, but affirmed the summary judgment order imposing civil penalties in the amount of $1.62 million against Dico for violating the EPA Administrative Order. The case was remanded to the District Court for a new trial on the remaining issues.

The trial occurred in April 2017. On September 5, 2017, the District Court issued an order: (a) concluding Titan Tire and Dico arranged for the disposal of a hazardous substance in violation of 42 U.S.C. § 9607(a); (b) holding Titan Tire and Dico jointly and severally liable for $5.45 million in response costs previously incurred and reported by the United States relating to the alleged violation, including enforcement costs and attorney’s fees; and (c) awarding a declaratory judgment holding Titan Tire and Dico jointly and severally liable for all additional response costs previously incurred but not yet reported or to be incurred in the future, including enforcement costs and attorney’s fees. The District Court also held Dico liable for $5.45 million in punitive damages under 42 U.S.C. § 9607(c)(3) for violating a unilateral administrative order. The punitive damages award does not apply to Titan Tire. The Company accrued a contingent liability of $6.5 million, representing $5.45 million in costs incurred by the United States and $1.05 million of additional response costs, for this order in the quarter ended September 30, 2017.

Titan Tire and Dico are appealing the case to the United States Court of Appeals for the Eighth Circuit. The Notice of Appeal was filed on November 2, 2017, and the Appellants' brief was filed on February 26, 2018. The Appellee’s brief was filed on May 30, 2018, and the Appellants’ reply was filed on July 9, 2018. While the Company believes it has meritorious arguments, the outcome of this appeal cannot be predicted. An appeal bond was secured to stay the execution of any collection actions underlying judgment pending the outcome of the appeal.

17

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

18. SEGMENT INFORMATION

The Company has aggregated its operating units into reportable segments based on its three customer markets: agricultural, earthmoving/construction, and consumer. These segments are based on the information used by the Chief Executive Officer to make certain operating decisions, allocate portions of capital expenditures, and assess segment performance. Segment external sales, expenses, and income from operations are determined based on the results of operations for the operating units of the Company's manufacturing facilities. Expenses and income from operations are allocated to appropriate segments based on the sales of operating units of manufacturing facilities. Segment assets are generally determined on the basis of the tangible assets located at such operating units’ manufacturing facilities and the intangible assets associated with the acquisitions of such operating units. However, certain operating units’ property, plant and equipment balances are carried at the corporate level. Titan is organized primarily on the basis of products being included in three market segments, with each reportable segment including wheels, tires, wheel/tire assemblies, and undercarriage systems and components.

The table below presents information about certain operating results, separated by market segments, for each of the three and six months ended June 30, 2018 and 2017 (amounts in thousands):

	Three months ended						Six months ended
	June 30,						June 30,
	2018			2017			2018			2017
Net sales
Agricultural	$	186,870		$	172,923		$	381,037		$	353,439
Earthmoving/construction	198,963			150,970			387,696			286,589
Consumer	43,071			40,506			85,553			81,872
	$	428,904		$	364,399		$	854,286		$	721,900
Gross profit
Agricultural	$	27,270		$	23,037		$	57,231		$	44,916
Earthmoving/construction	24,260			14,254			46,722			27,152
Consumer	6,782			6,729			13,920			12,153
	$	58,312		$	44,020		$	117,873		$	84,221
Income (loss) from operations
Agricultural	$	19,002		$	14,224		$	40,323		$	26,969
Earthmoving/construction	11,575			2,322			21,528			3,384
Consumer	3,651			3,536			7,598			5,051
Corporate & Unallocated	(18,003		)	(15,666		)	(35,124		)	(37,577		)
Income (loss) from operations	16,225			4,416			34,325			(2,173		)
Interest expense	(7,672		)	(7,320		)	(15,190		)	(15,041		)
Foreign exchange loss	(3,610		)	(5,257		)	(8,042		)	(767		)
Other income, net	2,477			1,750			10,227			4,427
Income (loss) before income taxes	$	7,420		$	(6,411	)	$	21,320		$	(13,554	)

Assets by segment were as follows as of the dates set forth below (amounts in thousands):

	June 30, 2018		December 31, 2017
Total assets
Agricultural	$	470,466	$	444,783
Earthmoving/construction	576,842		537,855
Consumer	131,943		157,133
Corporate & Unallocated	131,119		150,341
	$	1,310,370	$	1,290,112

 

19. FAIR VALUE MEASUREMENTS

Accounting standards for fair value measurements establish a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value.  These tiers are defined as:

Level 1 – Quoted prices in active markets for identical instruments.

Level 2 – Inputs other than quoted prices in active markets that are either directly or indirectly observable.

Level 3 – Unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

Assets and liabilities measured at fair value on a recurring basis consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018								December 31, 2017
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Contractual obligation investments	$	14,268	$	14,268	$	—	$	—	$	12,393	$	12,393	$	—	$	—
Derivative financial instruments asset	600		—		600		—		458		—		458		—
Preferred stock	111		—		—		111		154		—		—		154
Total	$	14,979	$	14,268	$	600	$	111	$	13,005	$	12,393	$	458	$	154

The following table presents the changes, during the six months ended June 30, 2018, in Titan's Level 3 investments that are measured at fair value on a recurring basis (amounts in thousands):

	Preferred stock
Balance at December 31, 2017	$	154
Total unrealized losses	(43		)
Balance as of June 30, 2018	$	111

The preferred stock was valued based on the book value of the common stock into which it can be converted.

20. RELATED PARTY TRANSACTIONS

The Company sells products and pays commissions to companies controlled by persons related to the Chairman of the Board of Directors of the Company, Mr. Maurice Taylor. The related party is Mr. Fred Taylor, who is Mr. Maurice Taylor’s brother. The companies with which Mr. Fred Taylor is associated that do business with Titan include the following: Blackstone OTR, LLC; F.B.T. Enterprises, Inc.; Green Carbon, Inc.; Silverstone, Inc.; and OTR Wheel Engineering, Inc.  Sales of Titan products to these companies were approximately $0.3 million and $0.6 million for the three and six months ended June 30, 2018, respectively, as compared to $0.5 million and $1.0 million for the three and six months ended June 30, 2017, respectively. Titan had trade receivables due from these companies of approximately $0.2 million at June 30, 2018, and approximately $0.4 million at December 31, 2017.  Titan had product purchases from these companies of approximately $0.0 million and $0.3 million for the three and six months ended June 30, 2018, respectively, as compared to purchases of approximately $0.1 million for the each of the three and six months ended June 30, 2017. Sales commissions paid to the above companies were approximately $0.5 million and $1.0 million for the three and six months ended June 30, 2018, respectively, as compared to $0.3 million and $0.7 million for the three and six months ended June 30, 2017, respectively.

The Company sells products to Valuepart and Track Solutions Pty Ltd., which is controlled by relatives of a member of management of a Titan subsidiary. Sales of Titan products to this company were approximately $0.1 million and $0.2 million for the three and six months ended June 30, 2018, respectively.

18

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

In July 2013, the Company entered into a Shareholders’ Agreement between OEP and RDIF to acquire Voltyre-Prom. Mr. Richard M. Cashin Jr., a director of the Company, is the President of OEP, which owns 21.4% of the joint venture.  The Shareholders’ Agreement contains a settlement put option which may require the Company to purchase equity interests in the joint venture from OEP and RDIF at a value set by the agreement. See Note 9 for additional information.

21. ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss consisted of the following for the periods presented below (amounts in thousands):

	Currency Translation Adjustments			Unrecognized Losses and Prior Service Cost			Total
Balance at April 1, 2018	$	(125,526	)	$	(23,244	)	$	(148,770	)
Currency translation adjustments	(36,113		)	—			(36,113		)
Defined benefit pension plan entries:
Amortization of unrecognized losses and prior service cost,   net of tax of $10	—			690			690
Reclassification as a result of ownership change	(4,325		)	—			(4,325		)
Balance at June 30, 2018	$	(165,964	)	$	(22,554	)	$	(188,518	)

	Currency Translation Adjustments			Unrecognized Losses and Prior Service Cost			Total
Balance at January 1, 2018	$	(132,949	)	$	(24,127	)	$	(157,076	)
Currency translation adjustments	(28,690		)	—			(28,690		)
Defined benefit pension plan entries:
Amortization of unrecognized losses and prior service cost,   net of tax of $(44)	—			1,573			1,573
Reclassification as a result of ownership change	(4,325		)	—			(4,325		)
Balance at June 30, 2018	$	(165,964	)	$	(22,554	)	$	(188,518	)

22. SUBSIDIARY GUARANTOR FINANCIAL INFORMATION

The senior secured notes are guaranteed by the following wholly-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 governing the senior secured notes 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.

19

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Three Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	166,757		$	262,147		$	—		$	428,904
Cost of sales	138			140,208			230,246			—			370,592
Gross (loss) profit	(138		)	26,549			31,901			—			58,312
Selling, general and administrative expenses	1,678			16,985			18,036			—			36,699
Research and development expenses	253			983			1,518			—			2,754
Royalty expense	628			940			1,066			—			2,634
(Loss) income from operations	(2,697		)	7,641			11,281			—			16,225
Interest expense	(6,826		)	—			(846		)	—			(7,672		)
Intercompany interest income (expense)	628			909			(1,537		)	—			—
Foreign exchange loss	—			(662		)	(2,948		)	—			(3,610		)
Other income (expense)	959			(147		)	1,665			—			2,477
(Loss) income before income taxes	(7,936		)	7,741			7,615			—			7,420
(Benefit) provision for income taxes	(2,390		)	3,044			1,029			—			1,683
Equity in earnings of subsidiaries	11,283			—			209			(11,492		)	—
Net income (loss)	5,737			4,697			6,795			(11,492		)	5,737
Net income attributable to noncontrolling interests	—			—			40			—			40
Net income (loss) attributable to Titan	$	5,737		$	4,697		$	6,755		$	(11,492	)	$	5,697

(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Three Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net sales	$	—		$	147,244		$	217,155		$	—	$	364,399
Cost of sales	87			129,743			190,549			—		320,379
Gross (loss) profit	(87		)	17,501			26,606			—		44,020
Selling, general and administrative expenses	3,066			14,043			17,354			—		34,463
Research and development expenses	—			950			1,658			—		2,608
Royalty expense	250			1,410			873			—		2,533
(Loss) income from operations	(3,403		)	1,098			6,721			—		4,416
Interest expense	(7,234		)	—			(86		)	—		(7,320		)
Intercompany interest income (expense)	588			1,947			(2,535		)	—		—
Foreign exchange loss	—			(41		)	(5,216		)	—		(5,257		)
Other income (loss)	931			(317		)	1,136			—		1,750
(Loss) income before income taxes	(9,118		)	2,687			20			—		(6,411		)
(Benefit) provision for income taxes	(3,185		)	1,321			1,990			—		126
Equity in earnings of subsidiaries	(603		)	—			(3,686		)	4,289		—
Net (loss) income	(6,536		)	1,366			(5,656		)	4,289		(6,537		)
Net loss attributable to noncontrolling interests	—			—			(244		)	—		(244		)
Net (loss) income attributable to Titan	$	(6,536	)	$	1,366		$	(5,412	)	$	4,289	$	(6,293	)

20

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Six Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	337,517		$	516,769		$	—		$	854,286
Cost of sales	246			281,738			454,429			—			736,413
Gross (loss) profit	(246		)	55,779			62,340			—			117,873
Selling, general and administrative expenses	2,873			32,260			37,487			—			72,620
Research and development expenses	493			1,969			3,169			—			5,631
Royalty expense	881			2,453			1,963			—			5,297
(Loss) income from operations	(4,493		)	19,097			19,721			—			34,325
Interest expense	(13,639		)	—			(1,551		)	—			(15,190		)
Intercompany interest income (expense)	1,251			1,922			(3,173		)	—			—
Foreign exchange loss	—			(670		)	(7,372		)	—			(8,042		)
Other income (expense)	6,628			(313		)	3,912			—			10,227
(Loss) income before income taxes	(10,253		)	20,036			11,537			—			21,320
(Benefit) provision for income taxes	(12,456		)	7,304			6,049			—			897
Equity in earnings of subsidiaries	18,220			—			4,546			(22,766		)	—
Net income (loss)	20,423			12,732			10,034			(22,766		)	20,423
Net loss attributable to noncontrolling interests	—			—			(1,639		)	—			(1,639		)
Net income (loss) attributable to Titan	$	20,423		$	12,732		$	11,673		$	(22,766	)	$	22,062

(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Six Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net sales	$	—		$	291,080		$	430,820		$	—	$	721,900
Cost of sales	156			256,163			381,360			—		637,679
Gross (loss) profit	(156		)	34,917			49,460			—		84,221
Selling, general and administrative expenses	7,938			31,313			36,550			—		75,801
Research and development expenses	—			1,853			3,598			—		5,451
Royalty expense	667			2,704			1,771			—		5,142
(Loss) income from operations	(8,761		)	(953		)	7,541			—		(2,173		)
Interest expense	(14,679		)	—			(362		)	—		(15,041		)
Intercompany interest income (expense)	1,169			1,946			(3,115		)	—		—
Foreign exchange loss	—			(41		)	(726		)	—		(767		)
Other income (expense)	2,212			(753		)	2,968			—		4,427
(Loss) income before income taxes	(20,059		)	199			6,306			—		(13,554		)
(Benefit) provision for income taxes	(1,510		)	1,495			3,583			—		3,568
Equity in earnings of subsidiaries	4,372			—			(8,409		)	4,037		—
Net (loss) income	(14,177		)	(1,296		)	(5,686		)	4,037		(17,122		)
Net income attributable to noncontrolling interests	—			—			624			—		624
Net (loss) income attributable to Titan	$	(14,177	)	$	(1,296	)	$	(6,310	)	$	4,037	$	(17,746	)

21

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Three Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	5,737		$	4,697	$	6,795		$	(11,492	)	$	5,737
Currency translation adjustment	(38,338		)	—		(38,338		)	38,338			(38,338		)
Pension liability adjustments, net of tax	690			646		44			(690		)	690
Comprehensive (loss) income	(31,911		)	5,343		(31,499		)	26,156			(31,911		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		(2,185		)	—			(2,185		)
Comprehensive (loss) income attributable to Titan	$	(31,911	)	$	5,343	$	(29,314	)	$	26,156		$	(29,726	)

(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Three Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net (loss) income	$	(6,536	)	$	1,366	$	(5,656	)	$	4,289		$	(6,537	)
Currency translation adjustment	8,006			—		8,006			(8,006		)	8,006
Pension liability adjustments, net of tax	989			625		364			(989		)	989
Comprehensive income (loss)	2,459			1,991		2,714			(4,706		)	2,458
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		(1,562		)	—			(1,562		)
Comprehensive income (loss) attributable to Titan	$	2,459		$	1,991	$	4,276		$	(4,706	)	$	4,020

(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Six Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	20,423		$	12,732	$	10,034		$	(22,766	)	$	20,423
Currency translation adjustment	(30,276		)	—		(30,276		)	30,276			(30,276		)
Pension liability adjustments, net of tax	1,573			1,292		281			(1,573		)	1,573
Comprehensive (loss) income	(8,280		)	14,024		(19,961		)	5,937			(8,280		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		(3,225		)	—			(3,225		)
Comprehensive (loss) income attributable to Titan	$	(8,280	)	$	14,024	$	(16,736	)	$	5,937		$	(5,055	)

22

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Six Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net (loss) income	$	(14,177	)	$	(1,296	)	$	(5,686	)	$	4,037		$	(17,122	)
Currency translation adjustment	19,025			—			(19,025		)	19,025			19,025
Pension liability adjustments, net of tax	1,722			1,250			472			(1,722		)	1,722
Comprehensive income (loss)	6,570			(46		)	(24,239		)	21,340			3,625
Net comprehensive income attributable to redeemable and noncontrolling interests	—			—			1,221			—			1,221
Comprehensive income (loss) attributable to Titan	$	6,570		$	(46	)	$	(25,460	)	$	21,340		$	2,404

(Amounts in thousands)	Condensed Consolidating Balance Sheets June 30, 2018
	Titan  Intl., Inc. (Parent)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	34,694	$	5		$	71,792		$	—		$	106,491
Accounts receivable, net	—		79,909			202,491			—			282,400
Inventories	—		112,238			260,494			—			372,732
Prepaid and other current assets	18,042		19,948			36,639			—			74,629
Total current assets	52,736		212,100			571,416			—			836,252
Property, plant and equipment, net	9,510		103,374			280,380			—			393,264
Investment in subsidiaries	764,208		—			78,920			(843,128		)	—
Other assets	6,310		958			73,586			—			80,854
Total assets	$	832,764	$	316,432		$	1,004,302		$	(843,128	)	$	1,310,370
Liabilities and Equity
Short-term debt	$	—	$	—		$	52,358		$	—		$	52,358
Accounts payable	2,212		30,349			193,480			—			226,041
Other current liabilities	30,169		31,717			67,171			—			129,057
Total current liabilities	32,381		62,066			313,009			—			407,456
Long-term debt	394,696		—			14,917			—			409,613
Other long-term liabilities	9,087		14,387			54,323			—			77,797
Intercompany accounts	81,949		(275,567		)	193,618			—			—
Redeemable noncontrolling interest	—		—			117,546			—			117,546
Titan shareholders' equity	314,651		515,546			318,001			(843,128		)	305,070
Noncontrolling interests	—		—			(7,112		)	—			(7,112		)
Total liabilities and equity	$	832,764	$	316,432		$	1,004,302		$	(843,128	)	$	1,310,370

23

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(Amounts in thousands)	Condensed Consolidating Balance Sheets December 31, 2017
	Titan  Intl., Inc. (Parent)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	59,740	$	13		$	83,817		$	—		$	143,570
Accounts receivable, net	—		54,009			172,694			—			226,703
Inventories	—		96,036			243,800			—			339,836
Prepaid and other current assets	17,789		20,917			34,378			—			73,084
Total current assets	77,529		170,975			534,689			—			783,193
Property, plant and equipment, net	2,466		110,470			308,312			—			421,248
Investment in subsidiaries	766,777		—			74,003			(840,780		)	—
Other assets	6,389		967			78,315			—			85,671
Total assets	$	853,161	$	282,412		$	995,319		$	(840,780	)	$	1,290,112
Liabilities and Equity
Short-term debt	$	—	$	—		$	43,651		$	—		$	43,651
Accounts payable	4,258		20,787			170,452			—			195,497
Other current liabilities	38,495		30,170			65,109			—			133,774
Total current liabilities	42,753		50,957			279,212			—			372,922
Long-term debt	394,284		—			12,887			—			407,171
Other long-term liabilities	11,544		16,458			58,740			—			86,742
Intercompany accounts	75,103		(286,525		)	211,422			—			—
Redeemable noncontrolling interest	—		—			113,193			—			113,193
Titan shareholders' equity	329,477		501,522			330,710			(840,780		)	320,929
Noncontrolling interests	—		—			(10,845		)	—			(10,845		)
Total liabilities and equity	$	853,161	$	282,412		$	995,319		$	(840,780	)	$	1,290,112

24

TITAN INTERNATIONAL, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(Amounts in thousands)	Condensed Consolidating Statements of Cash Flows For the Six Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash (used for) provided by operating activities	$	(24,585	)	$	3,265		$	(8,607	)	$	(29,927	)
Cash flows from investing activities:
Capital expenditures	(83		)	(3,274		)	(15,059		)	(18,416		)
Other, net	220			1			663			884
Net cash provided by (used for) investing activities	137			(3,273		)	(14,396		)	(17,532		)
Cash flows from financing activities:
Proceeds from borrowings	—			—			40,078			40,078
Payment on debt	—			—			(24,527		)	(24,527		)
Dividends paid	(598		)	—			—			(598		)
Net cash (used for) provided by financing activities	(598		)	—			15,551			14,953
Effect of exchange rate change on cash	—			—			(4,573		)	(4,573		)
Net decrease in cash and cash equivalents	(25,046		)	(8		)	(12,025		)	(37,079		)
Cash and cash equivalents, beginning of period	59,740			13			83,817			143,570
Cash and cash equivalents, end of period	$	34,694		$	5		$	71,792		$	106,491

(Amounts in thousands)	Condensed Consolidating Statements of Cash Flows For the Six Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash (used for) provided by operating activities	$	(43,700	)	$	2,191		$	10,956		$	(30,553	)
Cash flows from investing activities:
Capital expenditures	(716		)	(2,534		)	(11,902		)	(15,152		)
Certificates of deposit	40,000			—			—			40,000
Other, net	—			344			694			1,038
Net cash provided by (used for) investing activities	39,284			(2,190		)	(11,208		)	25,886
Cash flows from financing activities:
Proceeds from borrowings	—			—			27,742			27,742
Payment on debt	(3,393		)	—			(25,684		)	(29,077		)
Dividends paid	(570		)	—			—			(570		)
Net cash (used for) provided by financing activities	(3,963		)	—			2,058			(1,905		)
Effect of exchange rate change on cash	—			—			1,981			1,981
Net (decrease) increase in cash and cash equivalents	(8,379		)	1			3,787			(4,591		)
Cash and cash equivalents, beginning of period	86,190			9			61,628			147,827
Cash and cash equivalents, end of period	$	77,811		$	10		$	65,415		$	143,236

25

TITAN INTERNATIONAL, INC.

Management's Discussion and Analysis of

Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's discussion and analysis of financial condition and results of operations (MD&A) is designed to provide a reader of the financial statements included in this quarterly report with a narrative from the perspective of the management of Titan International, Inc. (Titan or the Company) on Titan's financial condition, results of operations, liquidity, and other factors which may affect the Company's future results. The MD&A in this quarterly report should be read in conjunction with the condensed consolidated financial statements and other financial information included elsewhere in this quarterly report and the MD&A and audited consolidated financial statements and related notes in Titan's annual report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission on February 23, 2018.

FORWARD-LOOKING STATEMENTS

This Form 10-Q contains forward-looking statements, which are covered by the "Safe Harbor for Forward-Looking Statements" provided by the Private Securities Litigation Reform Act of 1995. Readers can identify these statements by the fact that they do not relate strictly to historical or current facts. The Company tried to identify forward-looking statements in this report by using words such as “anticipates,” “estimates,” “expects,” “intends,” “plans,” and “believes,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” These forward-looking statements include, among other items:

• The Company's financial performance;

• Anticipated trends in the Company’s business;

• Expectations with respect to the end-user markets into which the Company sells its products (including agricultural equipment, earthmoving/construction equipment, and consumer products);

• Future expenditures for capital projects;

• The Company’s ability to continue to control costs and maintain quality;

• The Company's ability to meet conditions of loan agreements;

• The Company’s business strategies, including its intention to introduce new products;

• Expectations concerning the performance and success of the Company’s existing and new products; and

• The Company’s intention to consider and pursue acquisition and divestiture opportunities.

Readers of this Form 10-Q should understand that these forward-looking statements are based on the Company’s current expectations and assumptions about future events and are subject to a number of risks, uncertainties, and changes in circumstances that are difficult to predict, including, but not limited to, the factors discussed in Item 1A, Risk Factors, of the Company's most recent annual report on Form 10-K, certain of which are beyond the Company’s control.

Actual results could differ materially from these forward-looking statements as a result of certain factors, including:

• The effect of a recession on the Company and its customers and suppliers;

• Changes in the Company’s end-user markets into which the Company sells its products as a result of world economic or regulatory influences or otherwise;

• Changes in the marketplace, including new products and pricing changes by the Company’s competitors;

• Ability to maintain satisfactory labor relations;

• Unfavorable outcomes of legal proceedings;

• The Company's ability to comply with current or future regulations applicable to the Company's business and the industry in which it competes or any actions taken or orders issued by regulatory authorities;

• Availability and price of raw materials;

• Levels of operating efficiencies;

• The effects of the Company's indebtedness and its compliance with the terms thereof;

• Changes in the interest rate environment and their effects on the Company's outstanding indebtedness;

26

TITAN INTERNATIONAL, INC.

Management's Discussion and Analysis of

Financial Condition and Results of Operations

• Unfavorable product liability and warranty claims;

• Actions of domestic and foreign governments, including the imposition of additional tariffs;

• Geopolitical and economic uncertainties relating to the countries in which the Company operates or does business;

• Risks associated with acquisitions, including difficulty in integrating operations and personnel, disruption of ongoing business, and increased expenses;

• Results of investments;

• The effects of potential processes to explore various strategic transactions, including potential dispositions;

• Fluctuations in currency translations;

• Climate change and related laws and regulations;

• Risks associated with environmental laws and regulations;

• Risks relating to our manufacturing facilities, including that any of our material facilities may become inoperable; and

• Risks related to financial reporting, internal controls, tax accounting, and information systems.

Any changes in such factors could lead to significantly different results.  Any assumptions that are inaccurate or do not prove to be correct could have a material adverse effect on the Company’s ability to achieve the results as indicated in the forward-looking statements.  Forward-looking statements included in this report speak only as of the date of this report. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.  In light of these risks and uncertainties, there can be no assurance that the forward-looking information and assumptions contained in this report will in fact transpire. The reader should not place undue reliance on the forward-looking statements included in this report or that may be made elsewhere from time to time by the Company, or on its behalf. All forward-looking statements attributable to Titan are expressly qualified by these cautionary statements.

CRITICAL ACCOUNTING ESTIMATES

There were no material changes in the Company’s Critical Accounting Estimates since the filing of its Annual Report on Form 10-K for the year ended December 31, 2017. As discussed in the 2017 Form 10-K, the preparation of the consolidated financial statements in conformity with US GAAP requires management to make estimates, assumptions, and judgments that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from those estimates and assumptions.  Also see Note 1 - Basis of Presentation and Significant Accounting Policies in Part I, Item 1, Notes to Condensed Consolidated Financial Statements of this Form 10-Q for a discussion of the Company’s updated accounting policies, including with respect to revenue recognition.

OVERVIEW

Titan International, Inc., together with its subsidiaries, is a global wheel, tire, and undercarriage industrial manufacturer and supplier that services customers across its target markets. As a leading manufacturer in the off-highway industry, Titan produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. As a manufacturer of both wheels and tires, the Company is uniquely positioned to offer customers added value through complete wheel and tire assemblies.

Agricultural Segment: Titan's agricultural rims, wheels, tires, and undercarriage systems and components are manufactured for use on various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment, and are sold directly to OEMs and to the aftermarket through independent distributors, equipment dealers, and Titan's own distribution centers.

Earthmoving/Construction Segment: The Company manufactures rims, wheels, tires, and undercarriage systems and components for various types of off-the-road (OTR) earthmoving, mining, military, construction, and forestry equipment, including skid steers, aerial lifts, cranes, graders and levelers, scrapers, self-propelled shovel loaders, articulated dump trucks, load transporters, haul trucks, backhoe loaders, crawler tractors, lattice cranes, shovels, and hydraulic excavators.

Consumer Segment: Titan manufactures bias truck tires in Latin America and light truck tires in Russia. Titan also offers select products for ATVs, turf, and golf cart applications.

27

TITAN INTERNATIONAL, INC.

Management's Discussion and Analysis of

Financial Condition and Results of Operations

The Company’s major OEM customers include large manufacturers of off-highway equipment such as AGCO Corporation, Caterpillar Inc., CNH Global N.V., Deere & Company, Hitachi, Ltd., Kubota Corporation, Liebherr, and Volvo, in addition to many other off-highway equipment manufacturers.  The Company distributes products to OEMs, independent and OEM-affiliated dealers, and through a network of distribution facilities.

The table below provides highlights for the three and six months ended June 30, 2018, compared to the same periods in 2017 (amounts in thousands, except earnings per share):

	Three months ended								Six months ended
	June 30,								June 30,
	2018			2017			% Increase		2018			2017			% Increase
Net sales	$	428,904		$	364,399		17.7	%	$	854,286		$	721,900		18.3	%
Cost of sales	370,592			320,379			15.7	%	736,413			637,679			15.5	%
Gross profit	58,312			44,020			32.5	%	117,873			84,221			40.0	%
Gross profit as percentage of sales	13.6		%	12.1		%			13.8		%	11.7		%
Income (loss) from operations	16,225			4,416			267.4	%	34,325			(2,173		)	1,679.6	%
Net income (loss)	5,737			(6,537		)	187.8	%	20,423			(17,122		)	219.3	%
Basic earnings per share	0.02			(0.17		)	111.8	%	0.25			(0.35		)	171.4	%

RESULTS OF OPERATIONS

Net Sales

Net sales for the quarter ended June 30, 2018, were $428.9 million, compared to $364.4 million in the comparable quarter of 2017, an increase of 17.7% due to increases across all segments, particularly the earthmoving/construction segment, which reflected general improvements in most geographies. Overall net sales volume was up 16.1% over the comparable prior year quarter. Favorable changes in price/mix positively impacted net sales by 2.1%, while unfavorable currency translation negatively impacted net sales by 0.6%, particularly in Latin America.

Net sales for the six months ended June 30, 2018, were $854.3 million, compared to $721.9 million in the comparable period of 2017, an increase of 18.3%. Overall net sales volume increased 13.8% over the comparable period of 2017, with higher volume across all segments, particularly in the earthmoving/construction segment. Favorable changes in price/mix contributed a 3.1% increase to net sales and favorable currency translation increased net sales by an additional 1.5%.

Cost of Sales and Gross Profit

Cost of sales was $370.6 million for the quarter ended June 30, 2018, compared to $320.4 million for the comparable quarter in 2017. Gross profit for the second quarter of 2018 was $58.3 million, or 13.6% of net sales, compared to $44.0 million, or 12.1% of net sales, for the second quarter of 2017. The increase in gross profit was driven by increased sales volume partially offset by higher material costs, especially steel. The increase in gross profit margin is primarily the result of production efficiencies driven by increased volume.

Cost of sales was $736.4 million for the six months ended June 30, 2018, compared to $637.7 million for the comparable period in 2017. Gross profit for the first six months of 2018 was $117.9 million, or 13.8% of net sales, compared to $84.2 million, or 11.7% of net sales, for the first six months of 2017. The increase in gross profit was driven by the same factors impacting the second quarter results.

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TITAN INTERNATIONAL, INC.

Management's Discussion and Analysis of

Financial Condition and Results of Operations

Selling, General and Administrative Expenses

Selling, general and administrative (SG&A) expenses for the second quarter of 2018 were $36.7 million, or 8.6% of net sales, compared to $34.5 million, or 9.5% of net sales, for the second quarter of 2017.  The increase in SG&A primarily related to information technology spending and related consultancy expenses in the second quarter of 2018 that were not present in the comparable period of the prior year.

SG&A expenses for the first six months of 2018 were $72.6 million, or 8.5% of net sales, compared to $75.8 million, or 10.5% of net sales, for the first six months of 2017. The decrease in SG&A resulted from lower legal and non-recurring fees as compared to 2017, offset partially by information technology spending during the six months ended June 30, 2018.

Research and Development Expenses

Research and development (R&D) expenses for the second quarter of 2018 were $2.8 million, or 0.6% of net sales, compared to $2.6 million, or 0.7% of net sales, for the second quarter of 2017. R&D expenses for the first six months of 2018 were $5.6 million, or 0.7% of net sales, compared to $5.5 million, or 0.8% of net sales, for the first six months of 2017. The R&D spending reflects initiatives to improve product designs and an ongoing focus on quality.

Royalty Expense

The Company has trademark license agreements with The Goodyear Tire & Rubber Company to manufacture and sell certain farm tires under the Goodyear name. These agreements cover sales in North America, Latin America, Europe, the Middle East, Africa, Russia, and other Commonwealth of Independent States countries. Each of these agreements expire in 2025. The Company also has a trademark license agreement with Goodyear to manufacture and sell certain non-farm tire products in Latin America.

Royalty expenses for the second quarter of 2018 were $2.6 million, or 0.6% of net sales, compared to $2.5 million, or 0.7% of net sales, for the second quarter of 2017. Royalty expenses for the first six months of 2018 were $5.3 million, or 0.6% of net sales, compared to $5.1 million, or 0.7% of net sales, for the first six months of 2017. The increased royalty expenses are the result of increased volume.

Income (Loss) from Operations

Income from operations for the second quarter of 2018 was $16.2 million, compared to $4.4 million for the second quarter of 2017.  Income from operations for the first six months of 2018 was $34.3 million, compared to loss from operations of $2.2 million in the first six months of 2017.

Interest Expense

Interest expense was $7.7 million and $7.3 million for the quarters ended June 30, 2018 and 2017, respectively. Interest expense was $15.2 million and $15.0 million for the six months ended June 30, 2018 and 2017, respectively. The increase in interest expense was primarily due to increased borrowings under international working capital facilities partially offset by the reduced interest rate on the Company's senior secured notes, which were refinanced on November 20, 2017.

Foreign Exchange Loss

Foreign exchange loss was $3.6 million for the second quarter of 2018, compared to loss of $5.3 million for the second quarter of 2017. Foreign exchange loss was $8.0 million for the first six months of 2018, compared to loss of $0.8 million for the first six months of 2017. The foreign currency loss in the three and six months ended June 30, 2018, primarily reflects the devaluation of Latin American currencies.

Other Income

Other income was $2.5 million for the quarter ended June 30, 2018, as compared to $1.8 million in the comparable quarter of 2017.  For the quarter ended June 30, 2018, the Company recorded equity investment income of $1.1 million, a gain related to investments for deferred compensation of $0.6 million, interest income of $0.5 million, and rental income of $0.4 million. For the quarter ended June 30, 2017, the Company recorded interest income of $0.8 million, rental income of $0.6 million, equity investment income of $0.5 million, and a gain related to investments for deferred compensation of $0.5 million.

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TITAN INTERNATIONAL, INC.

Management's Discussion and Analysis of

Financial Condition and Results of Operations

Other income was $10.2 million for the six months ended June 30, 2018, as compared to $4.4 million in the comparable period of 2017. For the six months ended June 30, 2018, the Company recorded equity investment income of $2.2 million, interest income of $1.1 million, rental income of $1.0 million, and a gain related to investments for deferred compensation of $0.7 million. For the six months ended June 30, 2017, the Company recorded interest income of $1.8 million, equity investment income of $1.4 million, a gain related to investments for deferred compensation of $1.3 million, and rental income of $1.2 million.

Provision for Income Taxes

The Company recorded income tax expense of $1.7 million and $0.1 million for the quarters ended June 30, 2018 and 2017, respectively. For the six months ended June 30, 2018 and 2017, the Company recorded income tax expense of $0.9 million and $3.6 million, respectively. The Company's effective income tax rate was 23% and (2)% for the quarters ended June 30, 2018 and 2017, and 4% and (26)% for the six months ended June 30, 2018 and 2017, respectively.

The Company’s 2018 income tax expense and rate differed from the amount of income tax determined by applying the U.S. Federal income tax rate to pre-tax income primarily as a result of a reduction of the liability for unrecognized tax positions and U.S. and certain foreign jurisdictions that incurred a full valuation allowance on deferred tax assets created by current year projected losses. In addition, there were non-deductible royalty expenses and statutorily required income adjustments made in certain foreign jurisdictions that negatively impacted the tax rate for the six months ended June 30, 2018.

The Company’s 2017 effective income tax rate was different from the U.S. Federal income tax rate mainly due to losses in the U.S. and certain foreign jurisdictions where the Company could not record a tax benefit due to a valuation allowance. The increased negative effective tax rate is also due to non-deductible expenses and income adjustments in taxable jurisdictions that had the effect of increasing the tax rate for the period. During the second quarter of 2017, the IRS income tax audit for tax years 2010 through 2014 was settled, which did not result in any material change to income tax expense.

Net Income (Loss) and Earnings per Share

Net income for the second quarter of 2018 was $5.7 million, compared to net loss of $6.5 million in the comparable quarter of 2017. For the quarters ended June 30, 2018 and 2017, basic and diluted earnings per share were $0.02 and $(0.17), respectively. Net income for the first six months of 2018 was $20.4 million, compared to net loss of $17.1 million in the comparable period of 2017. For the six months ended June 30, 2018 and 2017, basic and diluted earnings per share were $0.25 and $(0.35), respectively. The Company's higher net income and earnings per share were due to the items previously discussed.

Agricultural Segment Results

Agricultural segment results for the periods presented below were as follows (amounts in thousands):

	Three months ended				Six months ended
	June 30,				June 30,
	2018		2017		2018		2017
Net sales	$	186,870	$	172,923	$	381,037	$	353,439
Gross profit	27,270		23,037		57,231		44,916
Income from operations	19,002		14,224		40,323		26,969

Net sales in the agricultural segment were $186.9 million for the quarter ended June 30, 2018, as compared to $172.9 million for the comparable period in 2017, an increase of 8.1%. Higher sales volumes contributed 8.5% of the increase in net sales, reflecting more favorable market conditions. Favorable price/mix also contributed an additional 2.3% of such increase, offset by unfavorable currency translation, primarily from Latin America, which decreased net sales by 2.7%.

Gross profit in the agricultural segment was $27.3 million for the quarter ended June 30, 2018, as compared to $23.0 million in the comparable quarter of 2017.  Increased net sales volume, primarily in North America, drove the overall increase in gross profit. Income from operations in the agricultural segment was $19.0 million for the quarter ended June 30, 2018, as compared to $14.2 million for the comparable period in 2017, reflecting increased volume and improved gross margins from improved production efficiencies.

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TITAN INTERNATIONAL, INC.

Management's Discussion and Analysis of

Financial Condition and Results of Operations

Net sales in the agricultural segment were $381.0 million for the six months ended June 30, 2018, as compared to $353.4 million for the comparable period in 2017, an increase of 7.8%. Higher sales volumes contributed 5.9% of the increase in net sales, while favorable price/mix increased net sales by 2.7%. Unfavorable currency translation decreased net sales by 0.8%.

Gross profit in the agricultural segment was $57.2 million for the six months ended June 30, 2018, as compared to $44.9 million in the comparable period of 2017. Increased net sales volume, primarily in North America, drove the overall increase in gross profit. Income from operations in the agricultural segment was $40.3 million for the six months ended June 30, 2018, as compared to $27.0 million for the comparable period in 2017.

Earthmoving/Construction Segment Results

Earthmoving/construction segment results for the periods presented below were as follows (amounts in thousands):

	Three months ended				Six months ended
	June 30,				June 30,
	2018		2017		2018		2017
Net sales	$	198,963	$	150,970	$	387,696	$	286,589
Gross profit	24,260		14,254		46,722		27,152
Income from operations	11,575		2,322		21,528		3,384

The Company's earthmoving/construction segment net sales were $199.0 million for the quarter ended June 30, 2018, as compared to $151.0 million in the comparable quarter of 2017, an increase of 31.8%. The increase in earthmoving/construction sales was driven by increased volume which increased net sales by 26.6%, reflecting general market improvements and market penetration, particularly in Europe, and favorable currency translation, which increased net sales by an additional 3.0%. Favorable price/mix contributed an additional 2.2% to net sales.

Gross profit in the earthmoving/construction segment was $24.3 million for the quarter ended June 30, 2018, as compared to $14.3 million in the comparable quarter of 2017. The Company's earthmoving/construction segment income from operations was $11.6 million for the quarter ended June 30, 2018, as compared to $2.3 million for the comparable quarter of 2017. The increase in gross profit was driven by increases in net sales, along with production efficiencies related to improved capacity utilization.

The Company's earthmoving/construction segment net sales were $387.7 million for the six months ended June 30, 2018, as compared to $286.6 million in the comparable quarter of 2017, an increase of 35.3%. Change in earthmoving/construction sales was driven by higher sales volume which increased net sales by 26.9%, reflecting favorable market factors and increased market penetration. Favorable currency translation increased net sales by 5.2% and price/mix further increased net sales by 3.2%.

Gross profit in the earthmoving/construction segment was $46.7 million for the six months ended June 30, 2018, as compared to $27.2 million for the comparable period in 2017. The Company's earthmoving/construction segment income from operations was $21.5 million for the six months ended June 30, 2018, as compared to $3.4 million for the comparable period in 2017. The increase in gross profit was driven by increases in net sales coupled with production efficiencies related to improved capacity utilization.

Consumer Segment Results

Consumer segment results for the periods presented below were as follows (amounts in thousands):

	Three months ended				Six months ended
	June 30,				June 30,
	2018		2017		2018		2017
Net sales	$	43,071	$	40,506	$	85,553	$	81,872
Gross profit	6,782		6,729		13,920		12,153
Income from operations	3,651		3,536		7,598		5,051

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TITAN INTERNATIONAL, INC.

Management's Discussion and Analysis of

Financial Condition and Results of Operations

Consumer segment net sales were $43.1 million for the quarter ended June 30, 2018, as compared to $40.5 million in the comparable quarter of 2017, an increase of approximately 6.3%. This increase was primarily driven by higher sales volumes contributing 9.9%, while favorable changes in price/mix contributed an additional 1.0% increase to net sales. Unfavorable currency translation decreased net sales by 4.6%, reflecting currency devaluation in Latin America.

Gross profit from the consumer segment was $6.8 million for the quarter ended June 30, 2018, as compared to $6.7 million for the comparable quarter of 2017. Consumer segment income from operations was $3.7 million for the quarter ended June 30, 2018, as compared to $3.5 million for the comparable quarter of 2017.

Consumer segment net sales were $85.6 million for the six months ended June 30, 2018, as compared to $81.9 million in the comparable period of 2017, an increase of approximately 4.5%. This increase was primarily due to favorable price/mix which increased net sales by 4.3%. Increased volume contributed another 1.8% increase, while unfavorable currency translation decreased net sales by 1.6%. These positive impacts on net sales reflect favorable market improvements and penetration, offset partially by currency devaluation in Latin America.

Gross profit from the consumer segment was $13.9 million for the six months ended June 30, 2018, as compared to $12.2 million for the comparable period of 2017. Consumer segment income from operations was $7.6 million for the six months ended June 30, 2018, as compared to $5.1 million for the comparable period in 2017.

Segment Summary (amounts in thousands)

Three months ended June 30, 2018	Agricultural		Earthmoving/ Construction		Consumer		Corporate/ Unallocated  Expenses			Consolidated  Totals
Net sales	$	186,870	$	198,963	$	43,071	$	—		$	428,904
Gross profit	27,270		24,260		6,782		—			58,312
Income (loss) from operations	19,002		11,575		3,651		(18,003		)	16,225
Three months ended June 30, 2017
Net sales	$	172,923	$	150,970	$	40,506	$	—		$	364,399
Gross profit	23,037		14,254		6,729		—			44,020
Income (loss) from operations	14,224		2,322		3,536		(15,666		)	4,416

Six months ended June 30, 2018	Agricultural		Earthmoving/ Construction		Consumer		Corporate/ Unallocated  Expenses			Consolidated  Totals
Net sales	$	381,037	$	387,696	$	85,553	$	—		$	854,286
Gross profit	57,231		46,722		13,920		—			117,873
Income (loss) from operations	40,323		21,528		7,598		(35,124		)	34,325
Six months ended June 30, 2017
Net sales	$	353,439	$	286,589	$	81,872	$	—		$	721,900
Gross profit	44,916		27,152		12,153		—			84,221
Income (loss) from operations	26,969		3,384		5,051		(37,577		)	(2,173		)

Corporate & Unallocated Expenses

Income from operations on a segment basis does not include corporate expenses totaling $18.0 million for the quarter ended June 30, 2018, as compared to $15.7 million for the comparable quarter of 2017. The increase in corporate expenses was primarily driven by increased information technology costs related to company-wide initiatives that were not present in the second quarter of 2017.

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TITAN INTERNATIONAL, INC.

Management's Discussion and Analysis of

Financial Condition and Results of Operations

Income from operations on a segment basis does not include corporate expenses totaling $35.1 million for the six months ended June 30, 2018, as compared to $37.6 million for the comparable period of 2017. The decrease in corporate expenses were primarily the result of lower legal and non-recurring fees in the prior year, partially offset by increased information technology costs in 2018.

MARKET RISK SENSITIVE INSTRUMENTS

The Company's risks related to foreign currencies, commodity prices, and interest rates at June 30, 2018, were consistent with those at December 31, 2017. For more information, see the “Market Risk Sensitive Instruments” discussion in the Company's Form 10-K for the fiscal year ended December 31, 2017.

PENSIONS

The Company has three frozen defined benefit pension plans covering certain employees or former employees of three U.S. subsidiaries. The Company also has pension plans covering certain employees of several foreign subsidiaries. These plans are described further in Part I, Item 1, Notes to Condensed Consolidated Financial Statements: Note 11 - Employee Benefit Plans.

The Company's recorded liability for pensions is based on a number of assumptions, including discount rates, rates of return on investments, mortality rates, and other factors. Certain of these assumptions are determined by the Company with the assistance of outside actuaries. Assumptions are based on past experience and anticipated future trends. These assumptions are reviewed on a regular basis and revised when appropriate. Revisions in assumptions and actual results that differ from the assumptions affect future expenses, cash funding requirements, and the carrying value of the related obligations. Titan expects to contribute approximately $3.7 million to these pension plans during the remainder of 2018.

LIQUIDITY AND CAPITAL RESOURCES

Cash Flows

As of June 30, 2018, the Company had $106.5 million of cash.

(Amounts in thousands)	June 30,		December 31,
	2018		2017		Change
Cash	$	106,491	$	143,570	$	(37,079	)

The cash balance decreased by $37.1 million from December 31, 2017, due to the following items:

Operating Cash Flows

Summary of cash flows from operating activities:

(Amounts in thousands)	Six months ended June 30,
	2018			2017			Change
Net income (loss)	$	20,423		$	(17,122	)	$	37,545
Depreciation and amortization	30,175			29,486			689
Deferred income tax provision	287			1,324			(1,037		)
Foreign currency translation loss	8,034			2,467			5,567
Accounts receivable	(70,633		)	(34,879		)	(35,754		)
Inventories	(47,612		)	(43,722		)	(3,890		)
Prepaid and other current assets	(4,555		)	2,877			(7,432		)
Accounts payable	39,550			33,149			6,401
Other current liabilities	(660		)	(4,922		)	4,262
Other liabilities	(5,212		)	(4,057		)	(1,155		)
Other operating activities	276			4,846			(4,570		)
Cash used for operating activities	$	(29,927	)	$	(30,553	)	$	626

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TITAN INTERNATIONAL, INC.

Management's Discussion and Analysis of

Financial Condition and Results of Operations

In the first six months of 2018, operating activities used $29.9 million of cash, including decreases from accounts receivable of $70.6 million and inventories of $47.6 million, offset by increases from accounts payable of $39.6 million. Included in the net income of $20.4 million were non-cash charges for depreciation and amortization of $30.2 million and foreign currency translation loss of $8.0 million.

Operating cash flows increased $0.6 million when comparing the first six months of 2018 to the first six months of 2017. The net income in the first six months of 2018 increased $37.5 million from the loss in the first six months of 2017. When comparing the first six months of 2018 to the first six months of 2017, cash flows from operating activities decreased in inventories and accounts receivable by $3.9 million and $35.8 million, respectively.

Summary of the components of cash conversion cycle:

	June 30,		December 31,		June 30,
	2018		2017		2017
Days sales outstanding	60		55		55
Days inventory outstanding	96		98		96
Days payable outstanding	(58	)	(56	)	(56	)
Cash conversion cycle	98		97		95

Investing Cash Flows

Summary of cash flows from investing activities:

(Amounts in thousands)	Six months ended June 30,
	2018			2017			Change
Capital expenditures	$	(18,416	)	$	(15,152	)	$	(3,264	)
Certificates of deposit	—			40,000			(40,000		)
Other investing activities	884			1,038			(154		)
Cash (used for) provided by investing activities	$	(17,532	)	$	25,886		$	(43,418	)

Net cash used for investing activities was $17.5 million in the first six months of 2018, as compared to cash provided by investing activities of $25.9 million in the first six months of 2017. In the first six months of 2017, the Company had cash provided by investing activities of $40.0 million from certificates of deposit that matured and were not reinvested. The Company invested a total of $18.4 million in capital expenditures in the first six months of 2018, compared to $15.2 million in the first six months of 2017. The 2018 and 2017 expenditures represent various equipment purchases and improvements to enhance production capabilities of Titan's existing business and to maintain existing equipment.

Financing Cash Flows

Summary of cash flows from financing activities:

(Amounts in thousands)	Six months ended June 30,
	2018			2017			Change
Proceeds from borrowings	$	40,078		$	27,742		$	12,336
Payment on debt	(24,527		)	(29,077		)	4,550
Dividends paid	(598		)	(570		)	(28		)
Cash provided by (used for) financing activities	$	14,953		$	(1,905	)	$	16,858

In the first six months of 2018, $15.0 million of cash was provided by financing activities. This cash was primarily provided through debt financing, with borrowing providing $40.1 million offset by payments on debt of $24.5 million.

34

TITAN INTERNATIONAL, INC.

Management's Discussion and Analysis of

Financial Condition and Results of Operations

Debt Restrictions

The Company’s revolving credit facility (credit facility) and indenture relating to the 6.50% senior secured notes due 2023 contain various restrictions, including:

• When remaining availability under the credit facility is less than 10% of the total commitment under the credit facility ($7.5 million as of June 30, 2018), the Company is required to maintain a minimum fixed charge coverage ratio of not less than 1.0 to 1.0 (calculated quarterly on a trailing four quarter basis);

• Limits on dividends and repurchases of the Company’s stock;

• Restrictions on the ability of the Company to make additional borrowings, or to consolidate, merge, or otherwise fundamentally change the ownership of the Company;

• Limitations on investments, dispositions of assets, and guarantees of indebtedness; and

• Other customary affirmative and negative covenants.

These restrictions could limit the Company’s ability to respond to market conditions, provide for unanticipated capital investments, raise additional debt or equity capital, pay dividends, or take advantage of business opportunities, including future acquisitions.

Liquidity Outlook

At June 30, 2018, the Company had $106.5 million of cash and cash equivalents. At June 30, 2018, there were no outstanding borrowings on the Company's $75 million credit facility. Titan's availability under this credit facility may be less than $75 million as a result of outstanding letters of credit and eligible accounts receivable and inventory balances at certain domestic subsidiaries. At June 30, 2018, an outstanding letter of credit under this credit facility totaled $12.3 million and the amount available under the facility totaled $62.7 million, based upon eligible accounts receivable and inventory balances. The cash and cash equivalents balance of $106.5 million included $65.1 million held in foreign countries. The Company's current plans do not demonstrate a need to repatriate the foreign amounts to fund U.S. operations. As a result of the 2017 Tax Cuts and Jobs Act, the Company can repatriate the cumulative undistributed foreign earnings back to the U.S. when needed with minimal additional taxes other than state income and foreign withholding tax. Titan expects to contribute approximately $3.7 million to its defined benefit pension plans during the remainder of 2018.

Total capital expenditures for 2018 are forecasted to be approximately $35 million to $45 million.  Cash payments for interest are currently forecasted to be approximately $16 million for the last six months of 2018 based on June 30, 2018, debt balances. The forecasted interest payments are comprised primarily of the semi-annual payment of approximately $13 million (paid in May and November) for the 6.50% senior secured notes.

The Company's redeemable noncontrolling interest in Voltyre-Prom includes a settlement put option which is exercisable during a six-month period beginning July 9, 2018. The redeemable noncontrolling interest may be purchased, with cash or Titan common stock, at an amount set by the Shareholders' Agreement, which is estimated to be approximately $117 million to

$122 million, if exercised in full. As of the filing date of this Form 10-Q, the Company had not received notification of intent to exercise the settlement put option. See Note 9 to the Company's condensed consolidated financial statements regarding the Company's redeemable noncontrolling interest and the settlement put option.

In the future, Titan may seek to grow by making acquisitions, which will depend in large part on its ability to identify suitable acquisition candidates, negotiate acceptable terms for their acquisition, finance those acquisitions, and successfully integrate the acquired assets or business.

Subject to the terms of the agreements governing Titan's outstanding indebtedness, the Company may finance future acquisitions with cash on hand, cash from operations, additional indebtedness, issuing additional equity securities, divestitures, and alternative financing options.

Cash and cash equivalents, totaling $106.5 million at June 30, 2018, along with anticipated internal cash flows from operations and utilization of remaining available borrowings, are expected to provide sufficient liquidity for working capital needs, debt maturities, and capital expenditures. Potential divestitures and unencumbered assets are also a means to provide for future liquidity needs.

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TITAN INTERNATIONAL, INC.

Management's Discussion and Analysis of

Financial Condition and Results of Operations

MARKET CONDITIONS AND OUTLOOK

In the first half of 2018, Titan experienced higher sales when compared to the same period of 2017. The higher sales levels were primarily the result of increased demand, primarily in the agricultural and earthmoving/construction segments. Net sales levels improved in both OEM and aftermarket channels. Market conditions across all segments are generally improved in 2018 compared to 2017.

Energy, raw material, and petroleum-based product costs could be volatile and may negatively affect the Company’s margins.  Additionally, the Company's markets and raw material prices may be negatively affected by tariffs and duties. Many of Titan’s overhead expenses are fixed; therefore, lower seasonal sales volume trends may cause negative fluctuations in quarterly profit margins and may negatively affect the financial condition of the Company.

AGRICULTURAL MARKET OUTLOOK

With the rise in global trade protectionism and an evolving business climate that includes declining crop prices, rising interest rates and ongoing tariff battles, there is concern for the overall health of the agricultural economy, particularly North America where U.S. farm net income is expected to decline in 2018. Overall declining/stagnant farm income levels have continued to keep demand for large farm equipment at reduced levels, however, the need to replace equipment as part of a typical replacement cycle is expected to drive additional volume in both OEM and aftermarket sales. Most major OEMs are forecasting 2018 agricultural equipment sales to be up over 2017 within most regions. North American used equipment levels have decreased from peak levels. Many variables, including weather, grain prices, export markets, currency, as well as government tariffs, duties, policies, and subsidies can greatly influence the overall condition of the agricultural market.

EARTHMOVING/CONSTRUCTION MARKET OUTLOOK

In the first half of 2018, net sales in the earthmoving/construction market increased primarily due to higher net sales volumes. This increase in net sales was a continuation of increases which began in the latter part of 2017. Demand for larger products used in the mining industry improved, with growth in international markets outpacing growth in the U.S. Demand for Titan's products in this market is anticipated to continue to improve in the second half of 2018. Demand for small and medium-sized earthmoving/construction equipment used in the housing and commercial construction sectors is also anticipated to increase. The earthmoving/construction segment is affected by many variables, including commodity prices, road construction, infrastructure, government appropriations, housing starts, and other macroeconomic drivers across the globe.

CONSUMER MARKET OUTLOOK

The consumer market is expected to remain highly competitive for the remainder of 2018. The consumer segment is affected by many variables including consumer spending, interest rates, government policies, and other macroeconomic drivers.

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TITAN INTERNATIONAL, INC.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

See Item 7A - Quantitative and Qualitative Disclosures About Market Risk included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017. There has been no material change in this information.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Titan management, including the Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the design and operation of the Company's disclosure controls and procedures (as defined under Rules 13a-15(e) and 15d-15(e) promulgated under the Exchange Act) as of June 30, 2018. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that, as of June 30, 2018, Titan's disclosure controls and procedures were effective to provide reasonable assurance that information required to be disclosed by Titan in the reports that it files or submits under the Exchange Act is recorded, processed, summarized, and reported accurately and within the time frames specified in the SEC's rules and forms and accumulated and communicated to Titan management, including the Chief Executive Officer and the Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

Changes in Internal Controls

There were no changes in internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) that occurred during the second quarter of fiscal 2018 that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

Inherent Limitations on the Effectiveness of Controls

Because of its inherent limitations, the Company's disclosure controls and procedures or internal control over financial reporting may not prevent or detect all misstatements or fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Due to the inherent limitations in a cost-effective control system, no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not occur or that all control issues and instances of fraud, if any, within the Company have been detected.

These inherent limitations include the realities that judgments in decision-making can be faulty and that breakdowns can occur due to simple error or mistake. Controls can also be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the controls. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

37

TITAN INTERNATIONAL, INC.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

The Company is subject, from time to time, to certain legal proceedings and claims arising out of our business, which cover a wide range of matters, including environmental issues, product liability, contracts, and labor and employment matters. See Note 17 - Litigation in Part I, Item 1, Notes to Condensed Consolidated Financial Statements of this Form 10-Q for further discussion.

Item 1A. Risk Factors

There have been no material changes from the risk factors disclosed in Item 1A. Risk Factors to the Company's Annual Report on Form 10-K for the year ended December 31, 2017, filed on February 23, 2018.

Item 6. Exhibits

10.1	Titan Restricted Stock Award Letter and Award Agreement
10.2	Employment Agreement, dated as of June 14, 2018, by and between Titan International, Inc. and David A. Martin (incorporated by reference to Exhibit 10 contained in the Company’s Current Report on Form 8-K filed on June 15, 2018)
31.1	Certification of the Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of the Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32	Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS	XBRL Instance Document - the instance document does not appear in the Interactive Data File because XBRL tags are embedded within the Inline XBRL document.
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

38

TITAN INTERNATIONAL, INC.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

TITAN INTERNATIONAL, INC.

(Registrant)

Date:	August 2, 2018	By:	/s/  PAUL G. REITZ
			Paul G. Reitz
			President and Chief Executive Officer
			(Principal Executive Officer)

By:	/s/ DAVID A. MARTIN
	David A. Martin
	SVP and Chief Financial Officer
	(Principal Financial Officer)

39

EX-10.1

Exhibit 10.1

[Date]

[Name and Address]

Re: Restricted Stock Award Letter

Dear [_____]:

Congratulations on being awarded Shares of Restricted Stock (the “Award”) of Titan International Inc. (“Titan”) effective as of [Date] (the “Award Date”). On each Vesting Date (defined below), this Award provides that the applicable Shares will vest. The following are the details of your Award:

Award Type:	Restricted Stock
Award Date:	[Date]
Number of Shares:	[_____]
Vesting Schedule:	Subject to the terms of the Award Agreement and the Plan, the Award will vest on the following dates (each a “Vesting Date”): [Insert Vesting Schedule].

As the recipient of this Award, you are the owner of the stock as of the Award Date, subject to the restrictions specified in your Award Agreement (attached hereto as Appendix A) and Titan International Inc.’s 2005 Equity Incentive Plan, as amended (the “Plan”), both of which fully describe this Award. By accepting this Award, you agree that the Restricted Stock is subject to the terms and conditions of this letter, your Award Agreement, and the Plan. If there is any conflict between this letter, Award Agreement and the Plan, the Plan will control. Any capitalized terms that are used but not defined in this letter or Award Agreement shall have the meaning ascribed to them in the Plan.

Provided that you remain in continuous service through the applicable Vesting Date, your Restricted Stock award will vest in accordance with the Vesting Schedule. On the applicable Vesting Date, the fair market value of the applicable vested award should be income to you and will be included on a Form W-2 for the applicable year in which the applicable portion of the Award vests. At each Vesting Date, you are the unrestricted owner of the vested Shares. You should consult your individual tax advisor or broker for your specific tax implications of this Award.

This Award is subject to the terms and conditions of this letter, the Award Agreement, and the Plan. This Award Letter and the Award Agreement should be retained for future reference. A copy of the Plan is available upon request. Please sign below and return a copy of this Award Letter indicating your acceptance of the Award. Thank you for your service to Titan International Inc. and congratulations on your award of Restricted Stock Shares.

Sincerely,

Paul Reitz, President & CEO

ACCEPTANCE:

I, [Name], hereby accept the Restricted Stock award dated [Date], as detailed in the letter, Award Agreement and the Plan.

Signature Date

Return ACCEPTANCE COPY by mail to: Titan International, Inc., Attn: Michael Troyanovich, Esq., General Counsel, 2701 Spruce Street, Quincy, Illinois 62301; or by e-mail to: mike.troyanovich@titan-intl.com.

Attachment: Appendix A

Titan International, Inc.

Restricted Stock Award - 2005 Equity Incentive Plan

Appendix A - Award Agreement (“Agreement”)

Award Type:    Restricted Stock

Award Date:    [Date]

Participant:    [Name]

Number of Shares:    [_____]

Vesting Schedule:    Subject to the terms of the Award Agreement and the Plan, the Award will vest on the following dates (each a “Vesting Date”): [Insert Vesting Schedule].

1. Restricted Stock Award (the “Award”). Titan grants to Participant the above stated number of Shares of Titan International, Inc. common stock, subject to the restrictions as specified herein, in the attached letter, and in the Plan.

2. Restrictions. The Participant will not be permitted to sell, transfer, pledge, assign or otherwise encumber the Award. Provided that you remain in continuous service through the applicable Vesting Date, the Award will vest according to the Vesting Schedule. Except as provided in Sections 3 and 4 of this Agreement, upon termination of the Participant’s service prior to a Vesting Date, any unvested portion of the Award shall be forfeited. The Company will evidence the Participant’s interest by using a restricted book entry account with the Company's transfer agent. Physical possession or custody of any stock certificates that are issued shall be retained by the Company until such time as the Restricted Stock vests. Prior to a Vesting Date, the stock certificates representing the Participant’s Award shall bear the following legend (or if book-entry, a notation reflecting the following):

THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS OF THE TITAN INTERNATIONAL, INC. 2005 EQUITY INCENTIVE PLAN, AS AMENDED, AND AN AWARD AGREEMENT ENTERED INTO BETWEEN [NAME] AND TITAN INTERNATIONAL, INC. (WHICH TERMS AND CONDITIONS MAY INCLUDE, WITHOUT LIMITATION, CERTAIN TRANSFER RESTRICTIONS, REPURCHASE RIGHTS AND FORFEITURE CONDITIONS). COPIES OF THAT PLAN AND AWARD AGREEMENT ARE ON FILE IN THE PRINCIPAL OFFICES OF TITAN INTERNATIONAL, INC. AND WILL BE MADE AVAILABLE TO THE HOLDER OF THIS CERTIFICATE WITHOUT CHARGE UPON REQUEST TO THE SECRETARY OF TITAN INTERNATIONAL, INC.

In the event that such Shares are not certificated, you will be required to execute such documentation as is reasonably necessary to reflect such Shares not being certificated.

3. Termination of Employment - Death or Disability. If the Participant’s service terminates by reason of death or Disability, or if following the Participant’s retirement, the Participant continues to have rights under an Award of Restricted Stock and thereafter dies, the Award shall 100% vest on such date of the Participant’s death or Disability.

4. Termination of Employment - Other. Unless otherwise determined by the Committee, if the Participant’s service with the Company or any of its Affiliates terminates prior to the occurrence of the applicable Vesting Date, any unvested portion of the Award shall be immediately forfeited.

5. Shareholder Rights - Dividends and Voting. The Participant will be the record owner of the Restricted Stock until the Shares of common stock are sold or otherwise disposed of, and shall be entitled to all of the rights of a shareholder of the Company including, without limitation, the right to vote such Shares and receive all dividends or other distributions paid with respect to such Shares. Notwithstanding the foregoing, any dividends or other distributions shall be subject to the same restrictions on transferability and forfeiture as the Shares of Restricted Stock with respect to which they were paid (e.g., dividends payable on unvested Shares will be accumulated and paid upon the applicable Vesting Date for such Shares).

6. Withholding. No later than the date as of which an amount first becomes includible in the gross income of the Participant for federal income tax purposes with respect to any Award under the Plan, the Participant will pay to the Company, or make arrangements satisfactory to the Committee regarding the payment of any federal, state or local taxes of any kind required by law to be withheld with respect to such amount. Subject to the approval of the Committee, the minimum required withholding obligations may be settled with Shares, including Shares that are part of the Award that gives rise to the withholding requirement. The obligations of the Company under the Plan will be conditioned on such payment or arrangements and the Company will, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the Participant.

7. Compliance with Law. The issuance and transfer of Shares of common stock shall be subject to compliance by the Company and the Participant with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company’s Shares of common stock may be listed. No Shares of common stock shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel. The Participant understands that the Company is under no obligation to register the Shares of common stock with the Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.

8. Governing Law. This Agreement shall be governed by, interpreted under and construed and enforced in accordance with the laws and judicial decisions of the State of Illinois, without regard to the application of the principles of conflicts of laws.

9. Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by the Participant or the Company to the Committee (excluding the Participant if he or she serves on the Committee) for review. The resolution of such dispute by the Committee shall be final and binding on the Participant and the Company.

10. Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Participant and the Participant’s beneficiaries, executors, administrators and the person(s) to whom the Award may be transferred by will or the laws of descent or distribution.

11. Severability. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Award shall be severable and enforceable to the extent permitted by law.

12. Amendment and Termination. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the Award does not create any contractual right or other right to receive any other Awards in the future. Future Awards, if any, will be at the sole discretion of the Committee. The Committee has the right to amend, alter, suspend, discontinue or cancel the Award, prospectively or retroactively; provided, that, no such amendment shall adversely affect the Participant's material rights under this Award without the Participant’s consent.

13. Section 83(b) Election. The Participant may make an election under Code Section 83(b) (a "Section 83(b) Election") with respect to the Award. Any such election must be made within thirty (30) days after the Award Date. If the Participant elects to make a Section 83(b) Election, the Participant shall provide the Company with a copy of an executed version and satisfactory evidence of the filing of the executed Section 83(b) Election with the US Internal Revenue Service. The Participant agrees to assume full responsibility for ensuring that the Section 83(b) Election is actually and timely filed with the US Internal Revenue Service and for all tax consequences resulting from the Section 83(b) Election. The Participant should consult with his or her personal tax and legal advisors prior to making any such election.

14. Data Privacy. As a condition of receipt of the Award, the Participant explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of personal data as described in this subsection by and among, as applicable, Company and its Affiliates for the exclusive purpose of implementing, administering and managing the Participant’s participation in the Plan. The Company and its Affiliates may hold certain personal information about the Participant, including but not limited to, the Participant’s name, home address and telephone number, date of birth, social security or insurance number or other identification number, salary, nationality, job title(s), any Shares held in the Company or any of its subsidiaries and affiliates, details of all Awards, in each case, for the purpose of implementing, managing and administering the Plan and Awards thereunder (the “Data”). The Company and its Affiliates may transfer the Data amongst themselves as necessary for the purpose of implementation, administration and management of the Participant’s participation in the Plan, and the Company and its Affiliates may each further transfer the Data to any third parties assisting the Company and its Affiliates in the implementation, administration and management of the Plan. These recipients may be located in Participant’s country, or elsewhere, and Participant’s country may have different data privacy laws and protections than the recipients’ country. Through acceptance of the Award, the undersigned Participant authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing Participant’s participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom the Company or its Affiliates, or Participant, may elect to deposit any common stock. The Data related to the Participant will be held only as long as is necessary to implement, administer, and manage Participant’s participation in the Plan. The undersigned Participant may, at any time, view the Data held by the Company or its Affiliates with respect to such Participant, request additional information about the storage and processing of the Data with respect to such Participant, recommend any necessary corrections to the Data with respect to Participant or refuse or withdraw the consents herein in writing, in any case without cost, by contacting Participant’s local human resources representative.

15. Other Agreements. The Company may require, as a condition to receipt of common stock hereunder, that the Participant execute other agreements, as it may determine in its reasonable discretion are necessary to facilitate the administration of this Award, and the Participant agrees to execute such agreements.

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Paul G. Reitz, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Titan International, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	August 2, 2018	By:	/s/ PAUL G. REITZ
			Paul G. Reitz
			President and Chief Executive Officer
			(Principal Executive Officer)

EX-31.2

Exhibit 31.2

CERTIFICATION

I, David A. Martin, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Titan International, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	August 2, 2018	By:	/s/ DAVID A. MARTIN
			David A. Martin
			SVP and Chief Financial Officer
			(Principal Financial Officer)

EX-32

Exhibit 32

CERTIFICATION

In connection with the Quarterly Report of Titan International, Inc. on Form 10-Q for the period ended June 30, 2018, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned hereby certifies that, to the best of their knowledge, this Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that information contained in this report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

TITAN INTERNATIONAL, INC.

(Registrant)

Date:	August 2, 2018	By:	/s/ PAUL G. REITZ
			Paul G. Reitz
			President and Chief Executive Officer
			(Principal Executive Officer)

By:	/s/ DAVID A. MARTIN
	David A. Martin
	SVP and Chief Financial Officer
	(Principal Financial Officer)

XML

Document and Entitiy Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 25, 2018
Document Information [Line Items]
Entity Registrant Name	TITAN INTERNATIONAL INC
Entity Central Index Key	0000899751
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		59,897,619

XML

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net sales	$ 428,904	$ 364,399	$ 854,286	$ 721,900
Cost of sales	370,592	320,379	736,413	637,679
Gross profit	58,312	44,020	117,873	84,221
Selling, general and administrative expenses	36,699	34,463	72,620	75,801
Research and development expenses	2,754	2,608	5,631	5,451
Royalty expense	2,634	2,533	5,297	5,142
Income (loss) from operations	16,225	4,416	34,325	(2,173)
Interest expense	(7,672)	(7,320)	(15,190)	(15,041)
Foreign exchange loss	(3,610)	(5,257)	(8,042)	(767)
Other income	2,477	1,750	10,227	4,427
Income (loss) before income taxes	7,420	(6,411)	21,320	(13,554)
Provision for income taxes	1,683	126	897	3,568
Net income (loss)	5,737	(6,537)	20,423	(17,122)
Net income (loss) attributable to noncontrolling interests	40	(244)	(1,639)	624
Net income (loss) attributable to Titan	5,697	(6,293)	22,062	(17,746)
Redemption value adjustment	4,678	4,040	7,021	3,099
Net income (loss) applicable to common shareholders	$ 1,019	$ (10,333)	$ 15,041	$ (20,845)
Earnings per common share:
Basic	$ 0.02	$ (0.17)	$ 0.25	$ (0.35)
Diluted	$ 0.02	$ (0.17)	$ 0.25	$ (0.35)
Average common shares and equivalents outstanding:
Basic	59,750	59,577	59,731	59,067
Diluted	59,878	59,577	59,877	59,067
Dividends declared per common share:	$ 0.005	$ 0.005	$ 0.010	$ 0.010

XML

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net income (loss)	$ 5,737	$ (6,537)	$ 20,423	$ (17,122)
Currency translation adjustment	(38,338)	8,006	(30,276)	19,025
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), after Tax	690		1,573
Pension liability adjustments, net of tax of $166, $(126), $55, and $(430), respectively	690	989	1,573	1,722
Comprehensive (loss) income	(31,911)	2,458	(8,280)	3,625
Net comprehensive loss attributable to redeemable and noncontrolling interests	(2,185)	(1,562)	(3,225)	1,221
Comprehensive (loss) income attributable to Titan	$ (29,726)	$ 4,020	$ (5,055)	$ 2,404

XML

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	$ 10	$ (97)	$ (44)	$ (111)

XML

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 106,491	$ 143,570
Accounts receivable, net	282,400	226,703
Inventories	372,732	339,836
Prepaid and other current assets	74,629	73,084
Total current assets	836,252	783,193
Property, plant and equipment, net	393,264	421,248
Deferred income taxes	2,325	3,779
Other assets	78,529	81,892
Total assets	1,310,370	1,290,112
Current liabilities
Short-term debt	52,358	43,651
Accounts payable	226,041	195,497
Other current liabilities	129,057	133,774
Total current liabilities	407,456	372,922
Long-term debt	409,613	407,171
Deferred income taxes	11,765	13,545
Other long-term liabilities	66,032	73,197
Total liabilities	894,866	866,835
Redeemable noncontrolling interest	117,546	113,193
Titan stockholders' equity
Common stock ($0.0001 par value, 120,000,000 shares authorized, 60,715,356 issued, 59,852,781 outstanding at June 30, 2018 and 59,800,559 outstanding at December 31, 2017)	0	0
Additional paid-in capital	524,466	531,708
Retained deficit	(22,471)	(44,022)
Treasury stock (at cost, 862,575 and 914,797 shares, respectively)	(8,407)	(8,606)
Stock reserved for deferred compensation	0	(1,075)
Accumulated other comprehensive loss	(188,518)	(157,076)
Total Titan shareholders’ equity	305,070	320,929
Noncontrolling interests	(7,112)	(10,845)
Total equity	297,958	310,084
Total liabilities and equity	$ 1,310,370	$ 1,290,112

XML

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Liabilities and Equity [Abstract]
Common Stock, par value	$ 0.0001	$ 0
Common Stock, shares authorized (in shares)	120,000,000	120,000,000
Common Stock, shares issued (in shares)	60,715,336
Common Stock, shares, outstanding (in shares)	59,810,770
Treasury Stock, shares (in shares)	862,575	914,797

XML

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - 6 months ended Jun. 30, 2018 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Treasury stock [Member]	Deferred Compensation, Share-based Payments [Member]	Accumulated other comprehensive income (loss) [Member]	Parent [Member]	Noncontrolling interest [Member]
Balance, Beginning (in shares) at Dec. 31, 2017		59,800,559
Balance, Beginning at Dec. 31, 2017	$ 310,084		$ 531,708	$ (44,022)	$ (8,606)	$ 1,075	$ (157,076)	$ 320,929	$ (10,845)
Net income (loss)	20,423			22,062				22,062
Currency translation adjustment, net	(30,276)						(28,690)	(28,690)	621
Temporary Equity, Foreign Currency Translation Adjustments	(28,069)
Pension liability adjustments, net of tax	1,573						1,573	1,573
Dividends declared	(599)			(599)				(599)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	123			88				88	35
Stock Issued During Period, Value, Restricted Stock Award, Gross	0							0
Noncontrolling Interest, Period Increase (Decrease)			(1,032)				(4,325)	(5,357)	5,208
Stock Issued During Period, Value, Acquisitions	149
Redemption value adjustment	7,021		(7,021)					(7,021)
Stock-based compensation	618		618					618
VIE distributions	(953)							0	(953)
Change During Period Common Stock Shares Held In Employee Trust			113			1,075		1,188
Issuance of treasury stock under 401(k) plan		22,222
Issuance of treasury stock under 401(k) plan	(279)		(80)		(199)			(279)
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	$ 20,884								(1,178)
Balance, Ending (in shares) at Jun. 30, 2018	59,810,770	59,852,781
Stock Issued During Period, Shares, Restricted Stock Award, Gross		30,000
Balance, Ending at Jun. 30, 2018	$ 297,958		$ 524,466	$ (22,471)	$ (8,407)	$ 0	$ (188,518)	$ 305,070	$ (7,112)
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	(461)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax, Portion Attributable to Noncontrolling Interest	$ (2,207)

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net income (loss)	$ 20,423	$ (17,122)
Adjustments to reconcile net income (loss) to net cash used for operating activities:
Depreciation and amortization	30,175	29,486
Deferred income tax provision	287	1,324
Stock-based compensation	618	956
Issuance of treasury stock under 401(k) plan	279	270
Foreign currency translation loss	8,034	2,467
(Increase) decrease in assets:
Accounts receivable	(70,633)	(34,879)
Inventories	(47,612)	(43,722)
Prepaid and other current assets	(4,555)	2,877
Other assets	(621)	3,620
Increase (decrease) in liabilities:
Accounts payable	39,550	33,149
Other current liabilities	(660)	(4,922)
Other liabilities	(5,212)	(4,057)
Net cash used for operating activities	(29,927)	(30,553)
Cash flows from investing activities:
Capital expenditures	(18,416)	(15,152)
Proceeds from Sale and Maturity of Marketable Securities	0	40,000
Other	884	1,038
Net cash (used for) provided by investing activities	(17,532)	25,886
Cash flows from financing activities:
Proceeds from borrowings	40,078	27,742
Payment on debt	(24,527)	(29,077)
Dividends paid	(598)	(570)
Net cash provided by (used for) financing activities	14,953	(1,905)
Effect of exchange rate changes on cash	(4,573)	1,981
Net decrease in cash and cash equivalents	(37,079)	(4,591)
Cash and cash equivalents, beginning of period	143,570	147,827
Cash and cash equivalents, end of period	106,491	143,236
Supplemental information:
Interest paid	15,801	17,916
Income taxes paid, net of refunds received	5,025	3,221
Stock Issued During Period, Value, Conversion of Convertible Securities	$ 0	$ 58,460

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ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

ACCOUNTING POLICIES

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

The accompanying unaudited condensed consolidated interim financial statements include the accounts of Titan International, Inc. and its subsidiaries (Titan or the Company) and have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP) for interim financial information and in accordance with the rules and regulations of the United States Securities and Exchange Commission (the SEC). Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. These unaudited condensed consolidated interim financial statements reflect all normal, and recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the Company's financial position as of June 30, 2018, and the results of operations and cash flows for the three and six months ended June 30, 2018 and 2017, and should be read in conjunction with the consolidated financial statements and the related notes thereto included in the Company’s latest Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC on February 23, 2018. All significant intercompany transactions have been eliminated in consolidation. These unaudited condensed consolidated interim financial statements include estimates and assumptions of management that affect the amounts reported in the condensed consolidated financial statements. Actual results could differ from these estimates.

Fair value of financial instruments

The Company records all financial instruments, including cash and cash equivalents, accounts receivable, notes receivable, accounts payable, other accruals, and notes payable at cost, which approximates fair value due to their short term or stated rates.  Investments in marketable equity securities are recorded at fair value.  The 6.50% senior secured notes due 2023 (senior secured notes) were carried at cost of $394.7 million at June 30, 2018. The fair value of the senior secured notes at June 30, 2018, as obtained through an independent pricing source, was approximately $397.0 million.

Cash dividends

The Company declared cash dividends of $0.005 and $0.010 per share of common stock for each of the three and six months ended June 30, 2018 and 2017. The second quarter 2018 cash dividend of $0.005 per share of common stock was paid on July 16, 2018, to shareholders of record on June 29, 2018.

New accounting standards:

Adoption of new accounting standards

The Company adopted the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 606, "Revenue from Contracts with Customers" (the New Revenue Standard), effective January 1, 2018, using the modified retrospective approach. ASC 606 prescribes that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides a five-step process to achieve that core principle:

• Identify the contract(s) with a customer

• Identify the performance obligations

• Determine the transaction price

• Allocate the transaction price

• Recognize revenue when the performance obligations are met

The Company compared its current revenue recognition policies to the requirements of the New Revenue Standard. Titan recognizes revenue when the performance obligations specified in the Company's contracts have been satisfied. Titan's contracts typically contain a single performance obligation that is fulfilled on the date of delivery based on shipping terms stipulated in the contract. As of January 1, 2018, none of the Company's contracts contained a financing option and Titan did not have any contract assets or liabilities. The table below presents the cumulative effect of the adoption of the New Revenue Standard on select accounts of Titan's Condensed Consolidated Balance Sheet at January 1, 2018 (amounts in thousands):

	Balance at December 31, 2017			New Revenue Standard Adjustments			Balance at January 1, 2018
Assets
Inventories	$	339,836		$	(390	)	$	339,446
Liabilities
Other current liabilities	133,774			(513		)	133,261
Equity
Retained (deficit) earnings	(44,022		)	88			(43,934		)
Noncontrolling interests	(10,845		)	35			(10,810		)

Disaggregated Revenues

The following table presents revenues disaggregated by the major markets Titan serves (amounts in thousands):

	Three months ended				Six months ended
	June 30,				June 30,
	2018		2017		2018		2017
Net sales
Agricultural	$	186,870	$	172,923	$	381,037	$	353,439
Earthmoving/construction	198,963		150,970		387,696		286,589
Consumer	43,071		40,506		85,553		81,872
	$	428,904	$	364,399	$	854,286	$	721,900

The Company adopted Accounting Standards Update (ASU) No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost" on January 1, 2018, using the retrospective transition method. This standard changed the presentation of net periodic pension and postretirement benefit cost (net benefit cost) within the Statement of Operations. Under the previous guidance, net benefit cost was reported as an employee cost within operating income. The amendment requires the bifurcation of net benefit cost, with the service cost component to be presented with other employee compensation costs in operating income, while the other components will be reported separately outside of income from operations. The adoption of this accounting standard resulted in a change in certain previously reported amounts, whereby the Company reclassed $0.4 million and $0.9 million of non-service cost from cost of sales to other income on the Condensed Consolidated Statement of Operations for the three and six months ended June 30, 2017, respectively. See Note 11 - Employee Benefit Plans in Part I, Item 1 of this Form 10-Q for further discussion.

In March 2018, the FASB issued ASU No. 2018-05, "Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118." This ASU updates the income tax accounting in US GAAP to reflect the SEC's interpretive guidance released on December 22, 2017, when the 2017 Tax Cuts and Jobs Act (2017 TCJA) was enacted. See Note 15 for more information regarding the impact of the 2017 TCJA.

In May 2017, the FASB issued ASU No. 2017-09, "Stock Compensation (Topic 718): Scope of Modification Accounting." This update provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Disclosure requirements under Topic 718 remain unchanged. The Company adopted ASU 2017-09 effective January 1, 2018. The adoption of this guidance did not have a material effect on the Company's consolidated financial statements; no changes were made to the terms or conditions of share-based payments.

In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments." This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The Company adopted this guidance effective January 1, 2018, with no resulting changes to the Company's consolidated financial statements.

Accounting standards issued but not yet adopted

In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)." This update was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The primary effect of adopting the new standard will be to record assets and obligations for the Company's operating leases. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of ASU 2016-02.

In February 2018, the FASB issued ASU No. 2018-02, "Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the 2017 TCJA. Consequently, the amendments eliminate the stranded tax effects resulting from the 2017 TCJA and will improve the usefulness of information reported to financial statement users. The amendments in this update are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating the impact of ASU 2018-02.

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ACCOUNTS RECEIVABLE

6 Months Ended

Jun. 30, 2018

Receivables [Abstract]

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE

Accounts receivable consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018			December 31, 2017
Accounts receivable	$	285,712		$	229,677
Allowance for doubtful accounts	(3,312		)	(2,974		)
Accounts receivable, net	$	282,400		$	226,703

Accounts receivable are reduced by an estimated allowance for doubtful accounts, which is based on known risks and historical losses.

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INVENTORIES

6 Months Ended

Jun. 30, 2018

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

INVENTORIES

Inventories consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018		December 31, 2017
Raw material	$	99,198	$	83,541
Work-in-process	45,069		40,525
Finished goods	228,465		215,770
	$	372,732	$	339,836

Inventories are valued at the lower of cost or net realizable value. Net realizable value is estimated based on current selling prices. Inventory costs are calculated using the first-in, first-out (FIFO) method or average cost method. Estimated provisions are established for slow-moving and obsolete inventory.

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PROPERTY, PLANT AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2018

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018			December 31, 2017
Land and improvements	$	44,145		$	46,998
Buildings and improvements	255,716			264,078
Machinery and equipment	592,557			598,411
Tools, dies and molds	108,987			108,649
Construction-in-process	15,179			15,349
	1,016,584			1,033,485
Less accumulated depreciation	(623,320		)	(612,237		)
	$	393,264		$	421,248

Depreciation on property, plant and equipment for the six months ended June 30, 2018 and 2017, totaled $28.3 million and $27.4 million, respectively.

Capital leases included in property, plant, and equipment consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018			December 31, 2017
Buildings and improvements	$	3,897		$	4,056
Less accumulated amortization	(2,257		)	(2,294		)
	$	1,640		$	1,762
Machinery and equipment	$	31,633		$	32,379
Less accumulated amortization	(26,694		)	(27,260		)
	$	4,939		$	5,119

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INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

INTANGIBLE ASSETS

The components of intangible assets consisted of the following as of the dates set forth below (amounts in thousands):

	Weighted Average Useful Lives (in years) June 30, 2018	June 30, 2018			December 31, 2017
Amortizable intangible assets:
Customer relationships	9.2	$	13,609		$	13,922
Patents, trademarks and other	7.6	14,328			15,208
Total at cost		27,937			29,130
Less accumulated amortization		(14,614		)	(13,855		)
		$	13,323		$	15,275

Amortization related to intangible assets for the six months ended June 30, 2018 and 2017, totaled $1.3 million and $1.5 million, respectively. Intangible assets are included as a component of other assets in the Condensed Consolidated Balance Sheet.

The estimated aggregate amortization expense at June 30, 2018, for each of the years (or other periods) set forth below was as follows (amounts in thousands):

July 1 - December 31, 2018	$	1,203
2019	2,306
2020	2,285
2021	1,164
2022	1,067
Thereafter	5,298
	$	13,323

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WARRANTY

6 Months Ended

Jun. 30, 2018

Product Warranties Disclosures [Abstract]

WARRANTY COSTS

WARRANTY

Changes in the warranty liability consisted of the following (amounts in thousands):

	2018			2017
Warranty liability, January 1	$	18,612		$	17,926
Provision for warranty liabilities	4,213			3,112
Warranty payments made	(3,818		)	(3,378		)
Warranty liability, June 30	$	19,007		$	17,660

The Company provides limited warranties on workmanship on its products in all market segments. The majority of the Company’s products are subject to a limited warranty that ranges between less than one year and ten years, with certain product warranties being prorated after the first year. The Company calculates a provision for warranty expense based on past warranty experience. Warranty accruals are included as a component of other current liabilities on the Condensed Consolidated Balance Sheet.

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REVOLVING CREDIT FACILITY AND LONG-TERM DEBT

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

REVOLVING CREDIT FACILITY AND LONG-TERM DEBT

REVOLVING CREDIT FACILITY AND LONG-TERM DEBT

Long-term debt consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018
	Principal Balance		Unamortized Debt Issuance			Net Carrying Amount
6.50% senior secured notes due 2023	$	400,000	$	(5,304	)	$	394,696
Titan Europe credit facilities	34,186		—			34,186
Other debt	32,569		—			32,569
Capital leases	520		—			520
Total debt	467,275		(5,304		)	461,971
Less amounts due within one year	52,358		—			52,358
Total long-term debt	$	414,917	$	(5,304	)	$	409,613

	December 31, 2017
	Principal Balance		Unamortized Debt Issuance			Net Carrying Amount
6.50% senior secured notes due 2023	$	400,000	$	(5,716	)	$	394,284
Titan Europe credit facilities	33,485		—			33,485
Other debt	22,564		—			22,564
Capital leases	489		—			489
Total debt	456,538		(5,716		)	450,822
Less amounts due within one year	43,651		—			43,651
Total long-term debt	$	412,887	$	(5,716	)	$	407,171

Aggregate principal maturities of long-term debt at June 30, 2018, for each of the years (or other periods) set forth below were as follows (amounts in thousands):

July 1 - December 31, 2018	$	25,358
2019	29,832
2020	8,535
2021	2,921
2022	254
Thereafter	400,375
	$	467,275

6.50% senior secured notes due 2023

The senior secured notes are due November 2023. Including the impact of debt issuance costs, these notes had an effective yield of 6.79% at issuance. These notes are secured by the land and buildings of the following subsidiaries of the Company:  Titan Tire Corporation, Titan Tire Corporation of Bryan, Titan Tire Corporation of Freeport, and Titan Wheel Corporation of Illinois.

Titan Europe credit facilities

The Titan Europe credit facilities contain borrowings from various institutions totaling $34.2 million in aggregate principal amount at June 30, 2018. Maturity dates on this debt range from less than one year to nine years and interest rates range from 5% to 6.9%. The Titan Europe facilities are secured by the assets of Titan's subsidiaries in Italy, Spain, Germany, and Brazil.

Revolving credit facility

The Company has a $75 million revolving credit facility (credit facility) with agent BMO Harris Bank N.A. and other financial institutions party thereto. The credit facility is collateralized by accounts receivable and inventory of certain of the Company’s domestic subsidiaries and is scheduled to mature in February 2022. From time to time Titan's availability under this credit facility may be less than $75 million as a result of outstanding letters of credit and eligible accounts receivable and inventory balances at certain of its domestic subsidiaries. At June 30, 2018, an outstanding letter of credit under the credit facility totaled $12.3 million and the amount available under the facility totaled $62.7 million based upon eligible accounts receivable and inventory balances. During the first six months of 2018 and at June 30, 2018, there were no borrowings under the credit facility.

Other debt

The Company has working capital loans at Titan Pneus do Brasil Ltda and Voltyre-Prom at various interest rates, which totaled $8.7 million and $23.8 million at June 30, 2018, respectively. Maturity dates on this debt range from less than one year to three years.

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DERIVATIVE FINANCIAL INSTRUMENTS (Notes)

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

DERIVATIVE FINANCIAL INSTRUMENTSThe Company uses financial derivatives to mitigate its exposure to volatility in foreign currency exchange rates. These derivative financial instruments are recognized at fair value. The Company has not designated these financial instruments as hedging instruments. Any gain or loss on the re-measurement of the fair value is recorded as an offset to currency exchange gain/loss. For the three and six months ended June 30, 2018, the Company recorded currency exchange gain related to these derivatives of $0.4 million and $0.2 million, respectively.

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REDEEMABLE NONCONTROLLING INTEREST (Notes)

6 Months Ended

Jun. 30, 2018

Noncontrolling Interest [Abstract]

Noncontrolling Interest Disclosure [Text Block]

REDEEMABLE NONCONTROLLING INTEREST

The Company, in partnership with One Equity Partners (OEP) and the Russian Direct Investment Fund (RDIF), owns all of the equity interests in Voltyre-Prom, a leading producer of agricultural and industrial tires in Volgograd, Russia. The Company is party to a shareholders' agreement with OEP and RDIF which was entered into in connection with the acquisition of Voltyre-Prom. The agreement contains a settlement put option which is exercisable during a six-month period beginning July 9, 2018, and may require Titan to purchase the equity interests from OEP and RDIF in Voltyre-Prom with cash or Titan common stock, at a value set by the agreement. The value set by the agreement is the greater of: the aggregate of the investment of the selling party and an amount representing an internal rate of return of 8%; or the last twelve months of EBITDA multiplied by 5.5 less net debt times the selling party's ownership percentage. As of June 30, 2018, the value of the redeemable noncontrolling interest held by OEP and RDIF was recorded at the aggregate of the investment of the selling party and an amount representing an internal rate of return of 8%.

The redemption features of the settlement put option are not solely within the Company’s control and the noncontrolling interest is presented as a redeemable noncontrolling interest separately from total equity in the Condensed Consolidated Balance Sheet at the redemption value of the settlement put option. If the redemption value is greater than the carrying value of the noncontrolling interest, the increase in the redemption value is adjusted directly to retained earnings of the affected entity, or additional paid-in capital if there are no available retained earnings applicable to the redeemable noncontrolling interest.

The following is a reconciliation of redeemable noncontrolling interest as of June 30, 2018 and 2017 (amounts in thousands):

	2018			2017
Balance at January 1	$	113,193		$	104,809
Loss attributable to redeemable noncontrolling interest	(461		)	(190		)
Currency translation	(2,207		)	1,121
Redemption value adjustment	7,021			3,099
Balance at June 30	$	117,546		$	108,839

This obligation approximates the cost to the Company if all remaining equity interests in the consortium were purchased by the Company on June 30, 2018, and is presented in the Condensed Consolidated Balance Sheet in redeemable noncontrolling interest, which is treated as mezzanine equity.

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LEASE COMMITMENTS

6 Months Ended

Jun. 30, 2018

Leases [Abstract]

LEASE COMMITMENTS

LEASE COMMITMENTS

The Company leases certain buildings and equipment under operating leases.  Certain lease agreements provide for renewal options, fair value purchase options, and payment of property taxes, maintenance, and insurance by the Company. 

At June 30, 2018, future minimum rental commitments under noncancellable operating leases with initial terms of at least one year were as follows (amounts in thousands):

July 1 - December 31, 2018	$	4,177
2019	7,185
2020	5,050
2021	4,006
2022	3,034
Thereafter	6,831
Total future minimum lease payments	$	30,283

At June 30, 2018, the Company had assets held as capital leases with a net book value of $6.6 million included in property, plant and equipment. At June 30, 2018, total future capital lease obligations relating to these leases were as follows (amounts in thousands):

July 1 - December 31, 2018	$	168
2019	159
2020	55
2021	41
2022	43
Thereafter	53
Total future capital lease obligation payments	519
Less amount representing interest	(4		)
Present value of future capital lease obligation payments	$	515

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EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2018

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

EMPLOYEE BENEFIT PLANS

The Company has three frozen defined benefit pension plans covering certain employees or former employees of three U.S. subsidiaries. The Company also has pension plans covering certain employees of several foreign subsidiaries. The Company also sponsors a number of defined contribution plans in the U.S. and at foreign subsidiaries. The Company contributed approximately $1.7 million to the pension plans during the six months ended June 30, 2018, and expects to contribute approximately $3.7 million to the pension plans during the remainder of 2018.

The components of net periodic pension cost consisted of the following for the periods set forth below (amounts in thousands):

	Three months ended						Six months ended
	June 30,						June 30,
	2018			2017			2018			2017
Service cost	$	141		$	128		$	278		$	353
Interest cost	1,098			1,163			2,181			2,334
Expected return on assets	(1,491		)	(1,368		)	(2,983		)	(2,737		)
Amortization of unrecognized prior service cost	50			34			100			68
Amortization of net unrecognized loss	690			655			1,366			1,329
Net periodic pension cost	$	488		$	612		$	942		$	1,347

Service cost is recorded as cost of sales in the Condensed Consolidated Statement of Operations while all other components are recorded in other income.

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VARIABLE INTEREST ENTITIES (Notes)

6 Months Ended

Jun. 30, 2018

Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]

Variable Interest Entities Disclosure [Text Block]

VARIABLE INTEREST ENTITIES

The Company holds a variable interest in three joint ventures for which the Company is the primary beneficiary. Two of the joint ventures operate distribution facilities which primarily distribute mining products. Titan is the 50% owner of one of these distribution facilities, which is located in Canada, and the 40% owner of the other such facility, which is located in Australia. The Company’s variable interest in these joint ventures relates to sales of Titan product to these entities, consigned inventory, and working capital loans. The third joint venture is the consortium which owns Voltyre-Prom. Titan owns 43% of the consortium owning Voltyre-Prom, which is subject to a shareholder agreement containing a settlement put option which may require Titan to purchase the remaining equity interests in the consortium. See Note 9 for additional information.

The Company also holds a variable interest in five other entities for which Titan is the primary beneficiary. Each of these entities provides specific manufacturing related services at the Company's Tennessee facility. Titan's variable interest in these entities relates to financial support to the entities through providing many of the assets used by these entities in their business. The Company owns no equity in these entities.

As the primary beneficiary of these variable interest entities (VIEs), the entities’ assets, liabilities, and results of operations are included in the Company’s consolidated financial statements. The other equity holders’ interests are reflected in “Net income (loss) attributable to noncontrolling interests” in the Condensed Consolidated Statements of Operations and “Noncontrolling interests” in the Condensed Consolidated Balance Sheets.

The following table summarizes the carrying amount of the entities’ assets and liabilities included in the Company’s Condensed Consolidated Balance Sheets at June 30, 2018, and December 31, 2017 (amounts in thousands):

	June 30, 2018		December 31, 2017
Cash and cash equivalents	$	8,911	$	10,621
Inventory	12,599		13,494
Other current assets	39,244		36,334
Property, plant and equipment, net	31,262		33,717
Other noncurrent assets	3,880		4,250
Total assets	$	95,896	$	98,416
Current liabilities	$	36,749	$	32,172
Noncurrent liabilities	7,613		8,291
Total liabilities	$	44,362	$	40,463

All assets in the above table can only be used to settle obligations of the consolidated VIE to which the respective assets relate. Liabilities are nonrecourse obligations. Amounts presented in the table above are adjusted for intercompany eliminations.

The Company holds variable interests in certain VIEs which are not consolidated because Titan is not the primary beneficiary. The Company's involvement with these entities is in the form of direct equity interests and prepayments and purchases of materials. The maximum exposure to loss represents the loss of assets recognized by Titan relating to non-consolidated entities and amounts due to the non-consolidated assets. The assets and liabilities recognized in Titan's Condensed Consolidated Balance Sheets related to Titan's interest in these non-consolidated VIEs and the Company's maximum exposure to loss relating to non-consolidated VIEs as of the dates set forth below were as follows (amounts in thousands):

	June 30, 2018		December 31, 2017
Investments	$	4,034	$	3,823
Other current assets	1,267		1,261
Total VIE assets	5,301		5,084
Accounts payable	1,972		1,413
Maximum exposure to loss	$	7,273	$	6,497

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ROYALTY EXPENSE

6 Months Ended

Jun. 30, 2018

Other Income and Expenses [Abstract]

ROYALTY EXPENSE

ROYALTY EXPENSEThe Company has trademark license agreements with The Goodyear Tire & Rubber Company to manufacture and sell certain farm tires under the Goodyear name. These agreements cover sales in North America, Latin America, Europe, the Middle East, Africa, Russia, and other Commonwealth of Independent States countries. Each of these agreements expire in 2025. The Company also has a trademark license agreement with Goodyear to manufacture and sell certain non-farm tire products in Latin America which expires in June 2019. Royalty expenses recorded were $2.6 million and $2.5 million for the three months ended June 30, 2018 and 2017, respectively. Royalty expenses recorded were $5.3 million and $5.1 million for the six months ended June 30, 2018 and 2017, respectively.

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OTHER INCOME

6 Months Ended

Jun. 30, 2018

Other Income and Expenses [Abstract]

OTHER INCOME, NET

OTHER INCOME

Other income consisted of the following for the periods set forth below (amounts in thousands):

	Three months ended						Six months ended
	June 30,						June 30,
	2018			2017			2018		2017
Equity investment income	$	1,067		$	530		$	2,183	$	1,350
Interest income	532			801			1,149		1,774
Building rental income	410			595			988		1,195
Investment gain related to investments for deferred compensation	567			497			688		1,347
Other (expense) income	(99		)	(673		)	5,219		(1,239		)
	$	2,477		$	1,750		$	10,227	$	4,427

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INCOME TAXES

6 Months Ended

Jun. 30, 2018

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The Company recorded income tax expense of $1.7 million and $0.1 million for the quarters ended June 30, 2018 and 2017, respectively. For the six months ended June 30, 2018 and 2017, the Company recorded income tax expense of $0.9 million and $3.6 million, respectively. The Company's effective income tax rate was 23% and (2)% for the quarters ended June 30, 2018 and 2017, and 4% and (26)% for the six months ended June 30, 2018 and 2017, respectively.

The Company’s 2018 income tax expense and rate differed from the amount of income tax determined by applying the U.S. Federal income tax rate to pre-tax income primarily as a result of a reduction of the liability for unrecognized tax positions and U.S. and certain foreign jurisdictions that incurred a full valuation allowance on deferred tax assets created by current year projected losses. In addition, there were non-deductible royalty expenses and statutorily required income adjustments made in certain foreign jurisdictions that negatively impacted the tax rate for the six months ended June 30, 2018.

The Company’s 2017 income tax expense and rate differed from the amount of income tax determined by applying the U.S. Federal income tax rate to pre-tax income primarily as a result of U.S. and certain foreign jurisdictions that incurred a full valuation allowance on deferred tax assets created by current year projected losses. In addition, there were non-deductible royalty expenses and statutorily required income adjustments made in certain foreign jurisdictions that negatively impacted the tax rate for the period. During the second quarter of 2017, the IRS income tax audit for tax years 2010 through 2014 was settled, which did not result in any material change to the Company's income tax expense.

The Company continues to monitor the realization of its deferred tax assets and assesses the need for a valuation allowance. The Company analyzes available positive and negative evidence to determine if a valuation allowance is needed based on the weight of the evidence. This objectively verifiable evidence primarily includes the past three years' profit and loss positions. This process requires management to make estimates, assumptions, and judgments that are uncertain in nature. The Company has established valuation allowances with respect to deferred tax assets in U.S. and certain foreign jurisdictions and continues to monitor and assess potential valuation allowances in all its jurisdictions.

The 2017 TCJA was enacted on December 22, 2017, and includes a number of changes to the Internal Revenue Code including a one-time transition tax on the mandatory deemed repatriation of cumulative undistributed foreign earnings and a permanent reduction in the U.S. federal statutory income tax rate from 35% to 21% effective on January 1, 2018.  The 2017 TCJA also created a new requirement that certain income (i.e., global intangible low taxed income, or GILTI) earned by foreign subsidiaries must be included currently in the gross income of the U.S. shareholder.  Consistent with guidance issued by SEC Staff Accounting Bulletin (SAB) No. 118, which provides for a measurement period of one year from the enactment date to finalize the accounting for effects of the 2017 TCJA, the Company has provisionally recorded no additional income tax expense related to the one-time mandatory deemed repatriation provision of the 2017 TCJA. For 2018, the Company has estimated an amount of GILTI income which is included in the calculation of 2018 income tax expense. This GILTI income inclusion, however, is fully offset by a change in the valuation allowance. The remeasurement of the U.S. net deferred asset from the 2017 corporate income tax rate change was fully offset by a change in the valuation allowance in 2017.

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EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Earnings per share (EPS) were as follows for the periods presented below (amounts in thousands, except per share data):

	Three months ended						Six months ended
	June 30,						June 30,
	2018			2017			2018			2017
Net income (loss) attributable to Titan	$	5,697		$	(6,293	)	$	22,062		$	(17,746	)
Redemption value adjustment	(4,678		)	(4,040		)	(7,021		)	(3,099		)
Net income (loss) applicable to common shareholders	$	1,019		$	(10,333	)	$	15,041		$	(20,845	)
Determination of shares:
Weighted average shares outstanding (basic)	59,750			59,577			59,731			59,067
Effect of stock options/trusts	128			—			146			—
Weighted average shares outstanding (diluted)	59,878			59,577			59,877			59,067
Earnings per share:
Basic and diluted	0.02			(0.17		)	0.25			(0.35		)

The effect of stock options, shares held by certain trusts, and convertible notes has been excluded from the calculation of EPS for the three and six months ended June 30, 2017, as the effect would have been antidilutive. The weighted average share amount excluded for stock options and shares held by certain trusts was 0.2 million for each of the three and six months ended June 30, 2017. The weighted average share amount excluded for convertible notes totaled 0.5 million shares for the six months ended June 30, 2017.

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LITIGATION

6 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

LITIGATION

LITIGATION

The Company is a party to routine legal proceedings arising out of the normal course of business. Due to the difficult nature of predicting unresolved and future legal claims, the Company cannot anticipate or predict the material adverse effect on its consolidated financial condition, results of operations, or cash flows as a result of efforts to comply with, or liabilities pertaining to, legal judgments.

At June 30, 2018, two of Titan’s subsidiaries were involved in litigation concerning environmental laws and regulations.

In June 2015, Titan Tire Corporation (Titan Tire) and Dico, Inc. (Dico) appealed a U.S. District Court order granting the U.S. motion for summary judgment that found Dico liable for violating the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) and an Environmental Protection Agency (EPA) Administrative Order and awarded response costs, civil penalties, and punitive damages.

In December 2015, the United States Court of Appeals for the Eighth Circuit reversed the District Court’s summary judgment order with respect to “arranger” liability for Titan Tire and Dico under CERCLA and the imposition of punitive damages against Dico for violating the EPA Administrative Order, but affirmed the summary judgment order imposing civil penalties in the amount of $1.62 million against Dico for violating the EPA Administrative Order. The case was remanded to the District Court for a new trial on the remaining issues.

The trial occurred in April 2017. On September 5, 2017, the District Court issued an order: (a) concluding Titan Tire and Dico arranged for the disposal of a hazardous substance in violation of 42 U.S.C. § 9607(a); (b) holding Titan Tire and Dico jointly and severally liable for $5.45 million in response costs previously incurred and reported by the United States relating to the alleged violation, including enforcement costs and attorney’s fees; and (c) awarding a declaratory judgment holding Titan Tire and Dico jointly and severally liable for all additional response costs previously incurred but not yet reported or to be incurred in the future, including enforcement costs and attorney’s fees. The District Court also held Dico liable for $5.45 million in punitive damages under 42 U.S.C. § 9607(c)(3) for violating a unilateral administrative order. The punitive damages award does not apply to Titan Tire. The Company accrued a contingent liability of $6.5 million, representing $5.45 million in costs incurred by the United States and $1.05 million of additional response costs, for this order in the quarter ended September 30, 2017.

Titan Tire and Dico are appealing the case to the United States Court of Appeals for the Eighth Circuit. The Notice of Appeal was filed on November 2, 2017, and the Appellants' brief was filed on February 26, 2018. The Appellee’s brief was filed on May 30, 2018, and the Appellants’ reply was filed on July 9, 2018. While the Company believes it has meritorious arguments, the outcome of this appeal cannot be predicted. An appeal bond was secured to stay the execution of any collection actions underlying judgment pending the outcome of the appeal.

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SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Segment information

SEGMENT INFORMATION

The Company has aggregated its operating units into reportable segments based on its three customer markets: agricultural, earthmoving/construction, and consumer. These segments are based on the information used by the Chief Executive Officer to make certain operating decisions, allocate portions of capital expenditures, and assess segment performance. Segment external sales, expenses, and income from operations are determined based on the results of operations for the operating units of the Company's manufacturing facilities. Expenses and income from operations are allocated to appropriate segments based on the sales of operating units of manufacturing facilities. Segment assets are generally determined on the basis of the tangible assets located at such operating units’ manufacturing facilities and the intangible assets associated with the acquisitions of such operating units. However, certain operating units’ property, plant and equipment balances are carried at the corporate level. Titan is organized primarily on the basis of products being included in three market segments, with each reportable segment including wheels, tires, wheel/tire assemblies, and undercarriage systems and components.

The table below presents information about certain operating results, separated by market segments, for each of the three and six months ended June 30, 2018 and 2017 (amounts in thousands):

	Three months ended						Six months ended
	June 30,						June 30,
	2018			2017			2018			2017
Net sales
Agricultural	$	186,870		$	172,923		$	381,037		$	353,439
Earthmoving/construction	198,963			150,970			387,696			286,589
Consumer	43,071			40,506			85,553			81,872
	$	428,904		$	364,399		$	854,286		$	721,900
Gross profit
Agricultural	$	27,270		$	23,037		$	57,231		$	44,916
Earthmoving/construction	24,260			14,254			46,722			27,152
Consumer	6,782			6,729			13,920			12,153
	$	58,312		$	44,020		$	117,873		$	84,221
Income (loss) from operations
Agricultural	$	19,002		$	14,224		$	40,323		$	26,969
Earthmoving/construction	11,575			2,322			21,528			3,384
Consumer	3,651			3,536			7,598			5,051
Corporate & Unallocated	(18,003		)	(15,666		)	(35,124		)	(37,577		)
Income (loss) from operations	16,225			4,416			34,325			(2,173		)
Interest expense	(7,672		)	(7,320		)	(15,190		)	(15,041		)
Foreign exchange loss	(3,610		)	(5,257		)	(8,042		)	(767		)
Other income, net	2,477			1,750			10,227			4,427
Income (loss) before income taxes	$	7,420		$	(6,411	)	$	21,320		$	(13,554	)

Assets by segment were as follows as of the dates set forth below (amounts in thousands):

	June 30, 2018		December 31, 2017
Total assets
Agricultural	$	470,466	$	444,783
Earthmoving/construction	576,842		537,855
Consumer	131,943		157,133
Corporate & Unallocated	131,119		150,341
	$	1,310,370	$	1,290,112

 

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FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

Accounting standards for fair value measurements establish a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value.  These tiers are defined as:

Level 1 – Quoted prices in active markets for identical instruments.

Level 2 – Inputs other than quoted prices in active markets that are either directly or indirectly observable.

Level 3 – Unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

Assets and liabilities measured at fair value on a recurring basis consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018								December 31, 2017
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Contractual obligation investments	$	14,268	$	14,268	$	—	$	—	$	12,393	$	12,393	$	—	$	—
Derivative financial instruments asset	600		—		600		—		458		—		458		—
Preferred stock	111		—		—		111		154		—		—		154
Total	$	14,979	$	14,268	$	600	$	111	$	13,005	$	12,393	$	458	$	154

The following table presents the changes, during the six months ended June 30, 2018, in Titan's Level 3 investments that are measured at fair value on a recurring basis (amounts in thousands):

	Preferred stock
Balance at December 31, 2017	$	154
Total unrealized losses	(43		)
Balance as of June 30, 2018	$	111

The preferred stock was valued based on the book value of the common stock into which it can be converted.

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RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2018

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

RELATED PARTY TRANSACTIONS

The Company sells products and pays commissions to companies controlled by persons related to the Chairman of the Board of Directors of the Company, Mr. Maurice Taylor. The related party is Mr. Fred Taylor, who is Mr. Maurice Taylor’s brother. The companies with which Mr. Fred Taylor is associated that do business with Titan include the following: Blackstone OTR, LLC; F.B.T. Enterprises, Inc.; Green Carbon, Inc.; Silverstone, Inc.; and OTR Wheel Engineering, Inc.  Sales of Titan products to these companies were approximately $0.3 million and $0.6 million for the three and six months ended June 30, 2018, respectively, as compared to $0.5 million and $1.0 million for the three and six months ended June 30, 2017, respectively. Titan had trade receivables due from these companies of approximately $0.2 million at June 30, 2018, and approximately $0.4 million at December 31, 2017.  Titan had product purchases from these companies of approximately $0.0 million and $0.3 million for the three and six months ended June 30, 2018, respectively, as compared to purchases of approximately $0.1 million for the each of the three and six months ended June 30, 2017. Sales commissions paid to the above companies were approximately $0.5 million and $1.0 million for the three and six months ended June 30, 2018, respectively, as compared to $0.3 million and $0.7 million for the three and six months ended June 30, 2017, respectively.

The Company sells products to Valuepart and Track Solutions Pty Ltd., which is controlled by relatives of a member of management of a Titan subsidiary. Sales of Titan products to this company were approximately $0.1 million and $0.2 million for the three and six months ended June 30, 2018, respectively.

In July 2013, the Company entered into a Shareholders’ Agreement between OEP and RDIF to acquire Voltyre-Prom. Mr. Richard M. Cashin Jr., a director of the Company, is the President of OEP, which owns 21.4% of the joint venture.  The Shareholders’ Agreement contains a settlement put option which may require the Company to purchase equity interests in the joint venture from OEP and RDIF at a value set by the agreement. See Note 9 for additional information.

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Notes)

6 Months Ended

Jun. 30, 2018

Stockholders' Equity Note [Abstract]

Comprehensive Loss Note

ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss consisted of the following for the periods presented below (amounts in thousands):

	Currency Translation Adjustments			Unrecognized Losses and Prior Service Cost			Total
Balance at April 1, 2018	$	(125,526	)	$	(23,244	)	$	(148,770	)
Currency translation adjustments	(36,113		)	—			(36,113		)
Defined benefit pension plan entries:
Amortization of unrecognized losses and prior service cost,   net of tax of $10	—			690			690
Reclassification as a result of ownership change	(4,325		)	—			(4,325		)
Balance at June 30, 2018	$	(165,964	)	$	(22,554	)	$	(188,518	)

	Currency Translation Adjustments			Unrecognized Losses and Prior Service Cost			Total
Balance at January 1, 2018	$	(132,949	)	$	(24,127	)	$	(157,076	)
Currency translation adjustments	(28,690		)	—			(28,690		)
Defined benefit pension plan entries:
Amortization of unrecognized losses and prior service cost,   net of tax of $(44)	—			1,573			1,573
Reclassification as a result of ownership change	(4,325		)	—			(4,325		)
Balance at June 30, 2018	$	(165,964	)	$	(22,554	)	$	(188,518	)

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SUBSIDIARY GUARANTOR FINANCIAL INFORMATION

6 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

SUBSIDIARY GUARANTOR FINANCIAL INFORMATION

The senior secured notes are guaranteed by the following wholly-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 governing the senior secured notes 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)	Condensed Consolidating Statements of Operations For the Three Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	166,757		$	262,147		$	—		$	428,904
Cost of sales	138			140,208			230,246			—			370,592
Gross (loss) profit	(138		)	26,549			31,901			—			58,312
Selling, general and administrative expenses	1,678			16,985			18,036			—			36,699
Research and development expenses	253			983			1,518			—			2,754
Royalty expense	628			940			1,066			—			2,634
(Loss) income from operations	(2,697		)	7,641			11,281			—			16,225
Interest expense	(6,826		)	—			(846		)	—			(7,672		)
Intercompany interest income (expense)	628			909			(1,537		)	—			—
Foreign exchange loss	—			(662		)	(2,948		)	—			(3,610		)
Other income (expense)	959			(147		)	1,665			—			2,477
(Loss) income before income taxes	(7,936		)	7,741			7,615			—			7,420
(Benefit) provision for income taxes	(2,390		)	3,044			1,029			—			1,683
Equity in earnings of subsidiaries	11,283			—			209			(11,492		)	—
Net income (loss)	5,737			4,697			6,795			(11,492		)	5,737
Net income attributable to noncontrolling interests	—			—			40			—			40
Net income (loss) attributable to Titan	$	5,737		$	4,697		$	6,755		$	(11,492	)	$	5,697

(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Three Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net sales	$	—		$	147,244		$	217,155		$	—	$	364,399
Cost of sales	87			129,743			190,549			—		320,379
Gross (loss) profit	(87		)	17,501			26,606			—		44,020
Selling, general and administrative expenses	3,066			14,043			17,354			—		34,463
Research and development expenses	—			950			1,658			—		2,608
Royalty expense	250			1,410			873			—		2,533
(Loss) income from operations	(3,403		)	1,098			6,721			—		4,416
Interest expense	(7,234		)	—			(86		)	—		(7,320		)
Intercompany interest income (expense)	588			1,947			(2,535		)	—		—
Foreign exchange loss	—			(41		)	(5,216		)	—		(5,257		)
Other income (loss)	931			(317		)	1,136			—		1,750
(Loss) income before income taxes	(9,118		)	2,687			20			—		(6,411		)
(Benefit) provision for income taxes	(3,185		)	1,321			1,990			—		126
Equity in earnings of subsidiaries	(603		)	—			(3,686		)	4,289		—
Net (loss) income	(6,536		)	1,366			(5,656		)	4,289		(6,537		)
Net loss attributable to noncontrolling interests	—			—			(244		)	—		(244		)
Net (loss) income attributable to Titan	$	(6,536	)	$	1,366		$	(5,412	)	$	4,289	$	(6,293	)

(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Six Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	337,517		$	516,769		$	—		$	854,286
Cost of sales	246			281,738			454,429			—			736,413
Gross (loss) profit	(246		)	55,779			62,340			—			117,873
Selling, general and administrative expenses	2,873			32,260			37,487			—			72,620
Research and development expenses	493			1,969			3,169			—			5,631
Royalty expense	881			2,453			1,963			—			5,297
(Loss) income from operations	(4,493		)	19,097			19,721			—			34,325
Interest expense	(13,639		)	—			(1,551		)	—			(15,190		)
Intercompany interest income (expense)	1,251			1,922			(3,173		)	—			—
Foreign exchange loss	—			(670		)	(7,372		)	—			(8,042		)
Other income (expense)	6,628			(313		)	3,912			—			10,227
(Loss) income before income taxes	(10,253		)	20,036			11,537			—			21,320
(Benefit) provision for income taxes	(12,456		)	7,304			6,049			—			897
Equity in earnings of subsidiaries	18,220			—			4,546			(22,766		)	—
Net income (loss)	20,423			12,732			10,034			(22,766		)	20,423
Net loss attributable to noncontrolling interests	—			—			(1,639		)	—			(1,639		)
Net income (loss) attributable to Titan	$	20,423		$	12,732		$	11,673		$	(22,766	)	$	22,062

(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Six Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net sales	$	—		$	291,080		$	430,820		$	—	$	721,900
Cost of sales	156			256,163			381,360			—		637,679
Gross (loss) profit	(156		)	34,917			49,460			—		84,221
Selling, general and administrative expenses	7,938			31,313			36,550			—		75,801
Research and development expenses	—			1,853			3,598			—		5,451
Royalty expense	667			2,704			1,771			—		5,142
(Loss) income from operations	(8,761		)	(953		)	7,541			—		(2,173		)
Interest expense	(14,679		)	—			(362		)	—		(15,041		)
Intercompany interest income (expense)	1,169			1,946			(3,115		)	—		—
Foreign exchange loss	—			(41		)	(726		)	—		(767		)
Other income (expense)	2,212			(753		)	2,968			—		4,427
(Loss) income before income taxes	(20,059		)	199			6,306			—		(13,554		)
(Benefit) provision for income taxes	(1,510		)	1,495			3,583			—		3,568
Equity in earnings of subsidiaries	4,372			—			(8,409		)	4,037		—
Net (loss) income	(14,177		)	(1,296		)	(5,686		)	4,037		(17,122		)
Net income attributable to noncontrolling interests	—			—			624			—		624
Net (loss) income attributable to Titan	$	(14,177	)	$	(1,296	)	$	(6,310	)	$	4,037	$	(17,746	)

(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Three Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	5,737		$	4,697	$	6,795		$	(11,492	)	$	5,737
Currency translation adjustment	(38,338		)	—		(38,338		)	38,338			(38,338		)
Pension liability adjustments, net of tax	690			646		44			(690		)	690
Comprehensive (loss) income	(31,911		)	5,343		(31,499		)	26,156			(31,911		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		(2,185		)	—			(2,185		)
Comprehensive (loss) income attributable to Titan	$	(31,911	)	$	5,343	$	(29,314	)	$	26,156		$	(29,726	)

(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Three Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net (loss) income	$	(6,536	)	$	1,366	$	(5,656	)	$	4,289		$	(6,537	)
Currency translation adjustment	8,006			—		8,006			(8,006		)	8,006
Pension liability adjustments, net of tax	989			625		364			(989		)	989
Comprehensive income (loss)	2,459			1,991		2,714			(4,706		)	2,458
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		(1,562		)	—			(1,562		)
Comprehensive income (loss) attributable to Titan	$	2,459		$	1,991	$	4,276		$	(4,706	)	$	4,020

(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Six Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	20,423		$	12,732	$	10,034		$	(22,766	)	$	20,423
Currency translation adjustment	(30,276		)	—		(30,276		)	30,276			(30,276		)
Pension liability adjustments, net of tax	1,573			1,292		281			(1,573		)	1,573
Comprehensive (loss) income	(8,280		)	14,024		(19,961		)	5,937			(8,280		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		(3,225		)	—			(3,225		)
Comprehensive (loss) income attributable to Titan	$	(8,280	)	$	14,024	$	(16,736	)	$	5,937		$	(5,055	)

(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Six Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net (loss) income	$	(14,177	)	$	(1,296	)	$	(5,686	)	$	4,037		$	(17,122	)
Currency translation adjustment	19,025			—			(19,025		)	19,025			19,025
Pension liability adjustments, net of tax	1,722			1,250			472			(1,722		)	1,722
Comprehensive income (loss)	6,570			(46		)	(24,239		)	21,340			3,625
Net comprehensive income attributable to redeemable and noncontrolling interests	—			—			1,221			—			1,221
Comprehensive income (loss) attributable to Titan	$	6,570		$	(46	)	$	(25,460	)	$	21,340		$	2,404

(Amounts in thousands)	Condensed Consolidating Balance Sheets June 30, 2018
	Titan  Intl., Inc. (Parent)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	34,694	$	5		$	71,792		$	—		$	106,491
Accounts receivable, net	—		79,909			202,491			—			282,400
Inventories	—		112,238			260,494			—			372,732
Prepaid and other current assets	18,042		19,948			36,639			—			74,629
Total current assets	52,736		212,100			571,416			—			836,252
Property, plant and equipment, net	9,510		103,374			280,380			—			393,264
Investment in subsidiaries	764,208		—			78,920			(843,128		)	—
Other assets	6,310		958			73,586			—			80,854
Total assets	$	832,764	$	316,432		$	1,004,302		$	(843,128	)	$	1,310,370
Liabilities and Equity
Short-term debt	$	—	$	—		$	52,358		$	—		$	52,358
Accounts payable	2,212		30,349			193,480			—			226,041
Other current liabilities	30,169		31,717			67,171			—			129,057
Total current liabilities	32,381		62,066			313,009			—			407,456
Long-term debt	394,696		—			14,917			—			409,613
Other long-term liabilities	9,087		14,387			54,323			—			77,797
Intercompany accounts	81,949		(275,567		)	193,618			—			—
Redeemable noncontrolling interest	—		—			117,546			—			117,546
Titan shareholders' equity	314,651		515,546			318,001			(843,128		)	305,070
Noncontrolling interests	—		—			(7,112		)	—			(7,112		)
Total liabilities and equity	$	832,764	$	316,432		$	1,004,302		$	(843,128	)	$	1,310,370

(Amounts in thousands)	Condensed Consolidating Balance Sheets December 31, 2017
	Titan  Intl., Inc. (Parent)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	59,740	$	13		$	83,817		$	—		$	143,570
Accounts receivable, net	—		54,009			172,694			—			226,703
Inventories	—		96,036			243,800			—			339,836
Prepaid and other current assets	17,789		20,917			34,378			—			73,084
Total current assets	77,529		170,975			534,689			—			783,193
Property, plant and equipment, net	2,466		110,470			308,312			—			421,248
Investment in subsidiaries	766,777		—			74,003			(840,780		)	—
Other assets	6,389		967			78,315			—			85,671
Total assets	$	853,161	$	282,412		$	995,319		$	(840,780	)	$	1,290,112
Liabilities and Equity
Short-term debt	$	—	$	—		$	43,651		$	—		$	43,651
Accounts payable	4,258		20,787			170,452			—			195,497
Other current liabilities	38,495		30,170			65,109			—			133,774
Total current liabilities	42,753		50,957			279,212			—			372,922
Long-term debt	394,284		—			12,887			—			407,171
Other long-term liabilities	11,544		16,458			58,740			—			86,742
Intercompany accounts	75,103		(286,525		)	211,422			—			—
Redeemable noncontrolling interest	—		—			113,193			—			113,193
Titan shareholders' equity	329,477		501,522			330,710			(840,780		)	320,929
Noncontrolling interests	—		—			(10,845		)	—			(10,845		)
Total liabilities and equity	$	853,161	$	282,412		$	995,319		$	(840,780	)	$	1,290,112

(Amounts in thousands)	Condensed Consolidating Statements of Cash Flows For the Six Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash (used for) provided by operating activities	$	(24,585	)	$	3,265		$	(8,607	)	$	(29,927	)
Cash flows from investing activities:
Capital expenditures	(83		)	(3,274		)	(15,059		)	(18,416		)
Other, net	220			1			663			884
Net cash provided by (used for) investing activities	137			(3,273		)	(14,396		)	(17,532		)
Cash flows from financing activities:
Proceeds from borrowings	—			—			40,078			40,078
Payment on debt	—			—			(24,527		)	(24,527		)
Dividends paid	(598		)	—			—			(598		)
Net cash (used for) provided by financing activities	(598		)	—			15,551			14,953
Effect of exchange rate change on cash	—			—			(4,573		)	(4,573		)
Net decrease in cash and cash equivalents	(25,046		)	(8		)	(12,025		)	(37,079		)
Cash and cash equivalents, beginning of period	59,740			13			83,817			143,570
Cash and cash equivalents, end of period	$	34,694		$	5		$	71,792		$	106,491

(Amounts in thousands)	Condensed Consolidating Statements of Cash Flows For the Six Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash (used for) provided by operating activities	$	(43,700	)	$	2,191		$	10,956		$	(30,553	)
Cash flows from investing activities:
Capital expenditures	(716		)	(2,534		)	(11,902		)	(15,152		)
Certificates of deposit	40,000			—			—			40,000
Other, net	—			344			694			1,038
Net cash provided by (used for) investing activities	39,284			(2,190		)	(11,208		)	25,886
Cash flows from financing activities:
Proceeds from borrowings	—			—			27,742			27,742
Payment on debt	(3,393		)	—			(25,684		)	(29,077		)
Dividends paid	(570		)	—			—			(570		)
Net cash (used for) provided by financing activities	(3,963		)	—			2,058			(1,905		)
Effect of exchange rate change on cash	—			—			1,981			1,981
Net (decrease) increase in cash and cash equivalents	(8,379		)	1			3,787			(4,591		)
Cash and cash equivalents, beginning of period	86,190			9			61,628			147,827
Cash and cash equivalents, end of period	$	77,811		$	10		$	65,415		$	143,236

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ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Fair value of financial instruments

Fair value of financial instrumentsThe Company records all financial instruments, including cash and cash equivalents, accounts receivable, notes receivable, accounts payable, other accruals, and notes payable at cost, which approximates fair value due to their short term or stated rates.  Investments in marketable equity securities are recorded at fair value.  The 6.50% senior secured notes due 2023 (senior secured notes) were carried at cost of $394.7 million at June 30, 2018. The fair value of the senior secured notes at June 30, 2018, as obtained through an independent pricing source, was approximately $397.0 million.

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

Adoption of new accounting standards

The Company adopted the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 606, "Revenue from Contracts with Customers" (the New Revenue Standard), effective January 1, 2018, using the modified retrospective approach. ASC 606 prescribes that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides a five-step process to achieve that core principle:

• Identify the contract(s) with a customer

• Identify the performance obligations

• Determine the transaction price

• Allocate the transaction price

• Recognize revenue when the performance obligations are met

The Company compared its current revenue recognition policies to the requirements of the New Revenue Standard. Titan recognizes revenue when the performance obligations specified in the Company's contracts have been satisfied. Titan's contracts typically contain a single performance obligation that is fulfilled on the date of delivery based on shipping terms stipulated in the contract. As of January 1, 2018, none of the Company's contracts contained a financing option and Titan did not have any contract assets or liabilities. The table below presents the cumulative effect of the adoption of the New Revenue Standard on select accounts of Titan's Condensed Consolidated Balance Sheet at January 1, 2018 (amounts in thousands):

	Balance at December 31, 2017			New Revenue Standard Adjustments			Balance at January 1, 2018
Assets
Inventories	$	339,836		$	(390	)	$	339,446
Liabilities
Other current liabilities	133,774			(513		)	133,261
Equity
Retained (deficit) earnings	(44,022		)	88			(43,934		)
Noncontrolling interests	(10,845		)	35			(10,810		)

Disaggregated Revenues

The following table presents revenues disaggregated by the major markets Titan serves (amounts in thousands):

	Three months ended				Six months ended
	June 30,				June 30,
	2018		2017		2018		2017
Net sales
Agricultural	$	186,870	$	172,923	$	381,037	$	353,439
Earthmoving/construction	198,963		150,970		387,696		286,589
Consumer	43,071		40,506		85,553		81,872
	$	428,904	$	364,399	$	854,286	$	721,900

The Company adopted Accounting Standards Update (ASU) No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost" on January 1, 2018, using the retrospective transition method. This standard changed the presentation of net periodic pension and postretirement benefit cost (net benefit cost) within the Statement of Operations. Under the previous guidance, net benefit cost was reported as an employee cost within operating income. The amendment requires the bifurcation of net benefit cost, with the service cost component to be presented with other employee compensation costs in operating income, while the other components will be reported separately outside of income from operations. The adoption of this accounting standard resulted in a change in certain previously reported amounts, whereby the Company reclassed $0.4 million and $0.9 million of non-service cost from cost of sales to other income on the Condensed Consolidated Statement of Operations for the three and six months ended June 30, 2017, respectively. See Note 11 - Employee Benefit Plans in Part I, Item 1 of this Form 10-Q for further discussion.

In March 2018, the FASB issued ASU No. 2018-05, "Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118." This ASU updates the income tax accounting in US GAAP to reflect the SEC's interpretive guidance released on December 22, 2017, when the 2017 Tax Cuts and Jobs Act (2017 TCJA) was enacted. See Note 15 for more information regarding the impact of the 2017 TCJA.

In May 2017, the FASB issued ASU No. 2017-09, "Stock Compensation (Topic 718): Scope of Modification Accounting." This update provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Disclosure requirements under Topic 718 remain unchanged. The Company adopted ASU 2017-09 effective January 1, 2018. The adoption of this guidance did not have a material effect on the Company's consolidated financial statements; no changes were made to the terms or conditions of share-based payments.

In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments." This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The Company adopted this guidance effective January 1, 2018, with no resulting changes to the Company's consolidated financial statements.

New Accounting Pronouncements, Policy [Policy Text Block]

Accounting standards issued but not yet adopted

In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)." This update was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The primary effect of adopting the new standard will be to record assets and obligations for the Company's operating leases. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of ASU 2016-02.

In February 2018, the FASB issued ASU No. 2018-02, "Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the 2017 TCJA. Consequently, the amendments eliminate the stranded tax effects resulting from the 2017 TCJA and will improve the usefulness of information reported to financial statement users. The amendments in this update are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating the impact of ASU 2018-02.

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ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

The Company adopted the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 606, "Revenue from Contracts with Customers" (the New Revenue Standard), effective January 1, 2018, using the modified retrospective approach. ASC 606 prescribes that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides a five-step process to achieve that core principle:

• Identify the contract(s) with a customer

• Identify the performance obligations

• Determine the transaction price

• Allocate the transaction price

• Recognize revenue when the performance obligations are met

The Company compared its current revenue recognition policies to the requirements of the New Revenue Standard. Titan recognizes revenue when the performance obligations specified in the Company's contracts have been satisfied. Titan's contracts typically contain a single performance obligation that is fulfilled on the date of delivery based on shipping terms stipulated in the contract. As of January 1, 2018, none of the Company's contracts contained a financing option and Titan did not have any contract assets or liabilities. The table below presents the cumulative effect of the adoption of the New Revenue Standard on select accounts of Titan's Condensed Consolidated Balance Sheet at January 1, 2018 (amounts in thousands):

	Balance at December 31, 2017			New Revenue Standard Adjustments			Balance at January 1, 2018
Assets
Inventories	$	339,836		$	(390	)	$	339,446
Liabilities
Other current liabilities	133,774			(513		)	133,261
Equity
Retained (deficit) earnings	(44,022		)	88			(43,934		)
Noncontrolling interests	(10,845		)	35			(10,810		)

Disaggregation of Revenue [Table Text Block]

Disaggregated Revenues

The following table presents revenues disaggregated by the major markets Titan serves (amounts in thousands):

	Three months ended				Six months ended
	June 30,				June 30,
	2018		2017		2018		2017
Net sales
Agricultural	$	186,870	$	172,923	$	381,037	$	353,439
Earthmoving/construction	198,963		150,970		387,696		286,589
Consumer	43,071		40,506		85,553		81,872
	$	428,904	$	364,399	$	854,286	$	721,900

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ACCOUNTS RECEIVABLE (Tables)

6 Months Ended

Jun. 30, 2018

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Accounts receivable consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018			December 31, 2017
Accounts receivable	$	285,712		$	229,677
Allowance for doubtful accounts	(3,312		)	(2,974		)
Accounts receivable, net	$	282,400		$	226,703

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INVENTORIES (Tables)

6 Months Ended

Jun. 30, 2018

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

Inventories consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018		December 31, 2017
Raw material	$	99,198	$	83,541
Work-in-process	45,069		40,525
Finished goods	228,465		215,770
	$	372,732	$	339,836

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PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

6 Months Ended

Jun. 30, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

Property, plant and equipment, net consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018			December 31, 2017
Land and improvements	$	44,145		$	46,998
Buildings and improvements	255,716			264,078
Machinery and equipment	592,557			598,411
Tools, dies and molds	108,987			108,649
Construction-in-process	15,179			15,349
	1,016,584			1,033,485
Less accumulated depreciation	(623,320		)	(612,237		)
	$	393,264		$	421,248

Depreciation on property, plant and equipment for the six months ended June 30, 2018 and 2017, totaled $28.3 million and $27.4 million, respectively.

Capital leases included in property, plant, and equipment consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018			December 31, 2017
Buildings and improvements	$	3,897		$	4,056
Less accumulated amortization	(2,257		)	(2,294		)
	$	1,640		$	1,762
Machinery and equipment	$	31,633		$	32,379
Less accumulated amortization	(26,694		)	(27,260		)
	$	4,939		$	5,119

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INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill [Table Text Block]

The components of intangible assets consisted of the following as of the dates set forth below (amounts in thousands):

	Weighted Average Useful Lives (in years) June 30, 2018	June 30, 2018			December 31, 2017
Amortizable intangible assets:
Customer relationships	9.2	$	13,609		$	13,922
Patents, trademarks and other	7.6	14,328			15,208
Total at cost		27,937			29,130
Less accumulated amortization		(14,614		)	(13,855		)
		$	13,323		$	15,275

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

The estimated aggregate amortization expense at June 30, 2018, for each of the years (or other periods) set forth below was as follows (amounts in thousands):

July 1 - December 31, 2018	$	1,203
2019	2,306
2020	2,285
2021	1,164
2022	1,067
Thereafter	5,298
	$	13,323

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WARRANTY (Tables)

6 Months Ended

Jun. 30, 2018

Product Warranties Disclosures [Abstract]

Schedule of Product Warranty Liability [Table Text Block]

Changes in the warranty liability consisted of the following (amounts in thousands):

	2018			2017
Warranty liability, January 1	$	18,612		$	17,926
Provision for warranty liabilities	4,213			3,112
Warranty payments made	(3,818		)	(3,378		)
Warranty liability, June 30	$	19,007		$	17,660

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REVOLVING CREDIT FACILITY AND LONG-TERM DEBT (Tables)

6 Months Ended

Jun. 30, 2018

Debt Instrument [Line Items]

Schedule of Long-term Debt Instruments [Table Text Block]

Long-term debt consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018
	Principal Balance		Unamortized Debt Issuance			Net Carrying Amount
6.50% senior secured notes due 2023	$	400,000	$	(5,304	)	$	394,696
Titan Europe credit facilities	34,186		—			34,186
Other debt	32,569		—			32,569
Capital leases	520		—			520
Total debt	467,275		(5,304		)	461,971
Less amounts due within one year	52,358		—			52,358
Total long-term debt	$	414,917	$	(5,304	)	$	409,613

	December 31, 2017
	Principal Balance		Unamortized Debt Issuance			Net Carrying Amount
6.50% senior secured notes due 2023	$	400,000	$	(5,716	)	$	394,284
Titan Europe credit facilities	33,485		—			33,485
Other debt	22,564		—			22,564
Capital leases	489		—			489
Total debt	456,538		(5,716		)	450,822
Less amounts due within one year	43,651		—			43,651
Total long-term debt	$	412,887	$	(5,716	)	$	407,171

Schedule of Maturities of Long-term Debt [Table Text Block]

Aggregate principal maturities of long-term debt at June 30, 2018, for each of the years (or other periods) set forth below were as follows (amounts in thousands):

July 1 - December 31, 2018	$	25,358
2019	29,832
2020	8,535
2021	2,921
2022	254
Thereafter	400,375
	$	467,275

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REDEEMABLE NONCONTROLLING INTEREST (Tables)

6 Months Ended

Jun. 30, 2018

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interest [Table Text Block]

The following is a reconciliation of redeemable noncontrolling interest as of June 30, 2018 and 2017 (amounts in thousands):

	2018			2017
Balance at January 1	$	113,193		$	104,809
Loss attributable to redeemable noncontrolling interest	(461		)	(190		)
Currency translation	(2,207		)	1,121
Redemption value adjustment	7,021			3,099
Balance at June 30	$	117,546		$	108,839

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LEASE COMMITMENTS (Tables)

6 Months Ended

Jun. 30, 2018

Leases [Abstract]

Lessee, Operating Lease, Disclosure [Table Text Block]

At June 30, 2018, future minimum rental commitments under noncancellable operating leases with initial terms of at least one year were as follows (amounts in thousands):

July 1 - December 31, 2018	$	4,177
2019	7,185
2020	5,050
2021	4,006
2022	3,034
Thereafter	6,831
Total future minimum lease payments	$	30,283

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

At June 30, 2018, the Company had assets held as capital leases with a net book value of $6.6 million included in property, plant and equipment. At June 30, 2018, total future capital lease obligations relating to these leases were as follows (amounts in thousands):

July 1 - December 31, 2018	$	168
2019	159
2020	55
2021	41
2022	43
Thereafter	53
Total future capital lease obligation payments	519
Less amount representing interest	(4		)
Present value of future capital lease obligation payments	$	515

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EMPLOYEE BENEFIT PLANS (Tables)

6 Months Ended

Jun. 30, 2018

Retirement Benefits [Abstract]

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The components of net periodic pension cost consisted of the following for the periods set forth below (amounts in thousands):

	Three months ended						Six months ended
	June 30,						June 30,
	2018			2017			2018			2017
Service cost	$	141		$	128		$	278		$	353
Interest cost	1,098			1,163			2,181			2,334
Expected return on assets	(1,491		)	(1,368		)	(2,983		)	(2,737		)
Amortization of unrecognized prior service cost	50			34			100			68
Amortization of net unrecognized loss	690			655			1,366			1,329
Net periodic pension cost	$	488		$	612		$	942		$	1,347

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VARIABLE INTEREST ENTITIES (Tables)

6 Months Ended

Jun. 30, 2018

Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]

Schedule of Variable Interest Entities [Table Text Block]

The following table summarizes the carrying amount of the entities’ assets and liabilities included in the Company’s Condensed Consolidated Balance Sheets at June 30, 2018, and December 31, 2017 (amounts in thousands):

	June 30, 2018		December 31, 2017
Cash and cash equivalents	$	8,911	$	10,621
Inventory	12,599		13,494
Other current assets	39,244		36,334
Property, plant and equipment, net	31,262		33,717
Other noncurrent assets	3,880		4,250
Total assets	$	95,896	$	98,416
Current liabilities	$	36,749	$	32,172
Noncurrent liabilities	7,613		8,291
Total liabilities	$	44,362	$	40,463

All assets in the above table can only be used to settle obligations of the consolidated VIE to which the respective assets relate. Liabilities are nonrecourse obligations. Amounts presented in the table above are adjusted for intercompany eliminations.

The Company holds variable interests in certain VIEs which are not consolidated because Titan is not the primary beneficiary. The Company's involvement with these entities is in the form of direct equity interests and prepayments and purchases of materials. The maximum exposure to loss represents the loss of assets recognized by Titan relating to non-consolidated entities and amounts due to the non-consolidated assets. The assets and liabilities recognized in Titan's Condensed Consolidated Balance Sheets related to Titan's interest in these non-consolidated VIEs and the Company's maximum exposure to loss relating to non-consolidated VIEs as of the dates set forth below were as follows (amounts in thousands):

	June 30, 2018		December 31, 2017
Investments	$	4,034	$	3,823
Other current assets	1,267		1,261
Total VIE assets	5,301		5,084
Accounts payable	1,972		1,413
Maximum exposure to loss	$	7,273	$	6,497

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OTHER INCOME (Tables)

6 Months Ended

Jun. 30, 2018

Other Income and Expenses [Abstract]

Other Income [Table Text Block]

Other income consisted of the following for the periods set forth below (amounts in thousands):

	Three months ended						Six months ended
	June 30,						June 30,
	2018			2017			2018		2017
Equity investment income	$	1,067		$	530		$	2,183	$	1,350
Interest income	532			801			1,149		1,774
Building rental income	410			595			988		1,195
Investment gain related to investments for deferred compensation	567			497			688		1,347
Other (expense) income	(99		)	(673		)	5,219		(1,239		)
	$	2,477		$	1,750		$	10,227	$	4,427

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EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

Earnings per share (EPS) were as follows for the periods presented below (amounts in thousands, except per share data):

	Three months ended						Six months ended
	June 30,						June 30,
	2018			2017			2018			2017
Net income (loss) attributable to Titan	$	5,697		$	(6,293	)	$	22,062		$	(17,746	)
Redemption value adjustment	(4,678		)	(4,040		)	(7,021		)	(3,099		)
Net income (loss) applicable to common shareholders	$	1,019		$	(10,333	)	$	15,041		$	(20,845	)
Determination of shares:
Weighted average shares outstanding (basic)	59,750			59,577			59,731			59,067
Effect of stock options/trusts	128			—			146			—
Weighted average shares outstanding (diluted)	59,878			59,577			59,877			59,067
Earnings per share:
Basic and diluted	0.02			(0.17		)	0.25			(0.35		)

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SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2018

Segment Reporting Information [Line Items]

Reconciliation of Revenue from Segments to Consolidated [Table Text Block]

he table below presents information about certain operating results, separated by market segments, for each of the three and six months ended June 30, 2018 and 2017 (amounts in thousands):

	Three months ended						Six months ended
	June 30,						June 30,
	2018			2017			2018			2017
Net sales
Agricultural	$	186,870		$	172,923		$	381,037		$	353,439
Earthmoving/construction	198,963			150,970			387,696			286,589
Consumer	43,071			40,506			85,553			81,872
	$	428,904		$	364,399		$	854,286		$	721,900
Gross profit
Agricultural	$	27,270		$	23,037		$	57,231		$	44,916
Earthmoving/construction	24,260			14,254			46,722			27,152
Consumer	6,782			6,729			13,920			12,153
	$	58,312		$	44,020		$	117,873		$	84,221
Income (loss) from operations
Agricultural	$	19,002		$	14,224		$	40,323		$	26,969
Earthmoving/construction	11,575			2,322			21,528			3,384
Consumer	3,651			3,536			7,598			5,051
Corporate & Unallocated	(18,003		)	(15,666		)	(35,124		)	(37,577		)
Income (loss) from operations	16,225			4,416			34,325			(2,173		)
Interest expense	(7,672		)	(7,320		)	(15,190		)	(15,041		)
Foreign exchange loss	(3,610		)	(5,257		)	(8,042		)	(767		)
Other income, net	2,477			1,750			10,227			4,427
Income (loss) before income taxes	$	7,420		$	(6,411	)	$	21,320		$	(13,554	)

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

Assets by segment were as follows as of the dates set forth below (amounts in thousands):

	June 30, 2018		December 31, 2017
Total assets
Agricultural	$	470,466	$	444,783
Earthmoving/construction	576,842		537,855
Consumer	131,943		157,133
Corporate & Unallocated	131,119		150,341
	$	1,310,370	$	1,290,112

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FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value, Measurement Inputs, Disclosure [Table Text Block]

Assets and liabilities measured at fair value on a recurring basis consisted of the following as of the dates set forth below (amounts in thousands):

	June 30, 2018								December 31, 2017
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Contractual obligation investments	$	14,268	$	14,268	$	—	$	—	$	12,393	$	12,393	$	—	$	—
Derivative financial instruments asset	600		—		600		—		458		—		458		—
Preferred stock	111		—		—		111		154		—		—		154
Total	$	14,979	$	14,268	$	600	$	111	$	13,005	$	12,393	$	458	$	154

Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings [Table Text Block]

The following table presents the changes, during the six months ended June 30, 2018, in Titan's Level 3 investments that are measured at fair value on a recurring basis (amounts in thousands):

	Preferred stock
Balance at December 31, 2017	$	154
Total unrealized losses	(43		)
Balance as of June 30, 2018	$	111

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

6 Months Ended

Jun. 30, 2018

Stockholders' Equity Note [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consisted of the following for the periods presented below (amounts in thousands):

	Currency Translation Adjustments			Unrecognized Losses and Prior Service Cost			Total
Balance at April 1, 2018	$	(125,526	)	$	(23,244	)	$	(148,770	)
Currency translation adjustments	(36,113		)	—			(36,113		)
Defined benefit pension plan entries:
Amortization of unrecognized losses and prior service cost,   net of tax of $10	—			690			690
Reclassification as a result of ownership change	(4,325		)	—			(4,325		)
Balance at June 30, 2018	$	(165,964	)	$	(22,554	)	$	(188,518	)

	Currency Translation Adjustments			Unrecognized Losses and Prior Service Cost			Total
Balance at January 1, 2018	$	(132,949	)	$	(24,127	)	$	(157,076	)
Currency translation adjustments	(28,690		)	—			(28,690		)
Defined benefit pension plan entries:
Amortization of unrecognized losses and prior service cost,   net of tax of $(44)	—			1,573			1,573
Reclassification as a result of ownership change	(4,325		)	—			(4,325		)
Balance at June 30, 2018	$	(165,964	)	$	(22,554	)	$	(188,518	)

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SUBSIDIARY GUARANTOR FINANCIAL INFORMATION (Tables)

6 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Income Statement [Table Text Block]

(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Three Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	166,757		$	262,147		$	—		$	428,904
Cost of sales	138			140,208			230,246			—			370,592
Gross (loss) profit	(138		)	26,549			31,901			—			58,312
Selling, general and administrative expenses	1,678			16,985			18,036			—			36,699
Research and development expenses	253			983			1,518			—			2,754
Royalty expense	628			940			1,066			—			2,634
(Loss) income from operations	(2,697		)	7,641			11,281			—			16,225
Interest expense	(6,826		)	—			(846		)	—			(7,672		)
Intercompany interest income (expense)	628			909			(1,537		)	—			—
Foreign exchange loss	—			(662		)	(2,948		)	—			(3,610		)
Other income (expense)	959			(147		)	1,665			—			2,477
(Loss) income before income taxes	(7,936		)	7,741			7,615			—			7,420
(Benefit) provision for income taxes	(2,390		)	3,044			1,029			—			1,683
Equity in earnings of subsidiaries	11,283			—			209			(11,492		)	—
Net income (loss)	5,737			4,697			6,795			(11,492		)	5,737
Net income attributable to noncontrolling interests	—			—			40			—			40
Net income (loss) attributable to Titan	$	5,737		$	4,697		$	6,755		$	(11,492	)	$	5,697

(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Three Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net sales	$	—		$	147,244		$	217,155		$	—	$	364,399
Cost of sales	87			129,743			190,549			—		320,379
Gross (loss) profit	(87		)	17,501			26,606			—		44,020
Selling, general and administrative expenses	3,066			14,043			17,354			—		34,463
Research and development expenses	—			950			1,658			—		2,608
Royalty expense	250			1,410			873			—		2,533
(Loss) income from operations	(3,403		)	1,098			6,721			—		4,416
Interest expense	(7,234		)	—			(86		)	—		(7,320		)
Intercompany interest income (expense)	588			1,947			(2,535		)	—		—
Foreign exchange loss	—			(41		)	(5,216		)	—		(5,257		)
Other income (loss)	931			(317		)	1,136			—		1,750
(Loss) income before income taxes	(9,118		)	2,687			20			—		(6,411		)
(Benefit) provision for income taxes	(3,185		)	1,321			1,990			—		126
Equity in earnings of subsidiaries	(603		)	—			(3,686		)	4,289		—
Net (loss) income	(6,536		)	1,366			(5,656		)	4,289		(6,537		)
Net loss attributable to noncontrolling interests	—			—			(244		)	—		(244		)
Net (loss) income attributable to Titan	$	(6,536	)	$	1,366		$	(5,412	)	$	4,289	$	(6,293	)

(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Six Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	337,517		$	516,769		$	—		$	854,286
Cost of sales	246			281,738			454,429			—			736,413
Gross (loss) profit	(246		)	55,779			62,340			—			117,873
Selling, general and administrative expenses	2,873			32,260			37,487			—			72,620
Research and development expenses	493			1,969			3,169			—			5,631
Royalty expense	881			2,453			1,963			—			5,297
(Loss) income from operations	(4,493		)	19,097			19,721			—			34,325
Interest expense	(13,639		)	—			(1,551		)	—			(15,190		)
Intercompany interest income (expense)	1,251			1,922			(3,173		)	—			—
Foreign exchange loss	—			(670		)	(7,372		)	—			(8,042		)
Other income (expense)	6,628			(313		)	3,912			—			10,227
(Loss) income before income taxes	(10,253		)	20,036			11,537			—			21,320
(Benefit) provision for income taxes	(12,456		)	7,304			6,049			—			897
Equity in earnings of subsidiaries	18,220			—			4,546			(22,766		)	—
Net income (loss)	20,423			12,732			10,034			(22,766		)	20,423
Net loss attributable to noncontrolling interests	—			—			(1,639		)	—			(1,639		)
Net income (loss) attributable to Titan	$	20,423		$	12,732		$	11,673		$	(22,766	)	$	22,062

(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Six Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net sales	$	—		$	291,080		$	430,820		$	—	$	721,900
Cost of sales	156			256,163			381,360			—		637,679
Gross (loss) profit	(156		)	34,917			49,460			—		84,221
Selling, general and administrative expenses	7,938			31,313			36,550			—		75,801
Research and development expenses	—			1,853			3,598			—		5,451
Royalty expense	667			2,704			1,771			—		5,142
(Loss) income from operations	(8,761		)	(953		)	7,541			—		(2,173		)
Interest expense	(14,679		)	—			(362		)	—		(15,041		)
Intercompany interest income (expense)	1,169			1,946			(3,115		)	—		—
Foreign exchange loss	—			(41		)	(726		)	—		(767		)
Other income (expense)	2,212			(753		)	2,968			—		4,427
(Loss) income before income taxes	(20,059		)	199			6,306			—		(13,554		)
(Benefit) provision for income taxes	(1,510		)	1,495			3,583			—		3,568
Equity in earnings of subsidiaries	4,372			—			(8,409		)	4,037		—
Net (loss) income	(14,177		)	(1,296		)	(5,686		)	4,037		(17,122		)
Net income attributable to noncontrolling interests	—			—			624			—		624
Net (loss) income attributable to Titan	$	(14,177	)	$	(1,296	)	$	(6,310	)	$	4,037	$	(17,746	)

Condensed Statement of Comprehensive Income [Table Text Block]

(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Three Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	5,737		$	4,697	$	6,795		$	(11,492	)	$	5,737
Currency translation adjustment	(38,338		)	—		(38,338		)	38,338			(38,338		)
Pension liability adjustments, net of tax	690			646		44			(690		)	690
Comprehensive (loss) income	(31,911		)	5,343		(31,499		)	26,156			(31,911		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		(2,185		)	—			(2,185		)
Comprehensive (loss) income attributable to Titan	$	(31,911	)	$	5,343	$	(29,314	)	$	26,156		$	(29,726	)

(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Three Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net (loss) income	$	(6,536	)	$	1,366	$	(5,656	)	$	4,289		$	(6,537	)
Currency translation adjustment	8,006			—		8,006			(8,006		)	8,006
Pension liability adjustments, net of tax	989			625		364			(989		)	989
Comprehensive income (loss)	2,459			1,991		2,714			(4,706		)	2,458
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		(1,562		)	—			(1,562		)
Comprehensive income (loss) attributable to Titan	$	2,459		$	1,991	$	4,276		$	(4,706	)	$	4,020

(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Six Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	20,423		$	12,732	$	10,034		$	(22,766	)	$	20,423
Currency translation adjustment	(30,276		)	—		(30,276		)	30,276			(30,276		)
Pension liability adjustments, net of tax	1,573			1,292		281			(1,573		)	1,573
Comprehensive (loss) income	(8,280		)	14,024		(19,961		)	5,937			(8,280		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		(3,225		)	—			(3,225		)
Comprehensive (loss) income attributable to Titan	$	(8,280	)	$	14,024	$	(16,736	)	$	5,937		$	(5,055	)

(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Six Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net (loss) income	$	(14,177	)	$	(1,296	)	$	(5,686	)	$	4,037		$	(17,122	)
Currency translation adjustment	19,025			—			(19,025		)	19,025			19,025
Pension liability adjustments, net of tax	1,722			1,250			472			(1,722		)	1,722
Comprehensive income (loss)	6,570			(46		)	(24,239		)	21,340			3,625
Net comprehensive income attributable to redeemable and noncontrolling interests	—			—			1,221			—			1,221
Comprehensive income (loss) attributable to Titan	$	6,570		$	(46	)	$	(25,460	)	$	21,340		$	2,404

Condensed Balance Sheet [Table Text Block]

(Amounts in thousands)	Condensed Consolidating Balance Sheets June 30, 2018
	Titan  Intl., Inc. (Parent)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	34,694	$	5		$	71,792		$	—		$	106,491
Accounts receivable, net	—		79,909			202,491			—			282,400
Inventories	—		112,238			260,494			—			372,732
Prepaid and other current assets	18,042		19,948			36,639			—			74,629
Total current assets	52,736		212,100			571,416			—			836,252
Property, plant and equipment, net	9,510		103,374			280,380			—			393,264
Investment in subsidiaries	764,208		—			78,920			(843,128		)	—
Other assets	6,310		958			73,586			—			80,854
Total assets	$	832,764	$	316,432		$	1,004,302		$	(843,128	)	$	1,310,370
Liabilities and Equity
Short-term debt	$	—	$	—		$	52,358		$	—		$	52,358
Accounts payable	2,212		30,349			193,480			—			226,041
Other current liabilities	30,169		31,717			67,171			—			129,057
Total current liabilities	32,381		62,066			313,009			—			407,456
Long-term debt	394,696		—			14,917			—			409,613
Other long-term liabilities	9,087		14,387			54,323			—			77,797
Intercompany accounts	81,949		(275,567		)	193,618			—			—
Redeemable noncontrolling interest	—		—			117,546			—			117,546
Titan shareholders' equity	314,651		515,546			318,001			(843,128		)	305,070
Noncontrolling interests	—		—			(7,112		)	—			(7,112		)
Total liabilities and equity	$	832,764	$	316,432		$	1,004,302		$	(843,128	)	$	1,310,370

(Amounts in thousands)	Condensed Consolidating Balance Sheets December 31, 2017
	Titan  Intl., Inc. (Parent)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	59,740	$	13		$	83,817		$	—		$	143,570
Accounts receivable, net	—		54,009			172,694			—			226,703
Inventories	—		96,036			243,800			—			339,836
Prepaid and other current assets	17,789		20,917			34,378			—			73,084
Total current assets	77,529		170,975			534,689			—			783,193
Property, plant and equipment, net	2,466		110,470			308,312			—			421,248
Investment in subsidiaries	766,777		—			74,003			(840,780		)	—
Other assets	6,389		967			78,315			—			85,671
Total assets	$	853,161	$	282,412		$	995,319		$	(840,780	)	$	1,290,112
Liabilities and Equity
Short-term debt	$	—	$	—		$	43,651		$	—		$	43,651
Accounts payable	4,258		20,787			170,452			—			195,497
Other current liabilities	38,495		30,170			65,109			—			133,774
Total current liabilities	42,753		50,957			279,212			—			372,922
Long-term debt	394,284		—			12,887			—			407,171
Other long-term liabilities	11,544		16,458			58,740			—			86,742
Intercompany accounts	75,103		(286,525		)	211,422			—			—
Redeemable noncontrolling interest	—		—			113,193			—			113,193
Titan shareholders' equity	329,477		501,522			330,710			(840,780		)	320,929
Noncontrolling interests	—		—			(10,845		)	—			(10,845		)
Total liabilities and equity	$	853,161	$	282,412		$	995,319		$	(840,780	)	$	1,290,112

Condensed Cash Flow Statement [Table Text Block]

(Amounts in thousands)	Condensed Consolidating Statements of Cash Flows For the Six Months Ended June 30, 2018
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash (used for) provided by operating activities	$	(24,585	)	$	3,265		$	(8,607	)	$	(29,927	)
Cash flows from investing activities:
Capital expenditures	(83		)	(3,274		)	(15,059		)	(18,416		)
Other, net	220			1			663			884
Net cash provided by (used for) investing activities	137			(3,273		)	(14,396		)	(17,532		)
Cash flows from financing activities:
Proceeds from borrowings	—			—			40,078			40,078
Payment on debt	—			—			(24,527		)	(24,527		)
Dividends paid	(598		)	—			—			(598		)
Net cash (used for) provided by financing activities	(598		)	—			15,551			14,953
Effect of exchange rate change on cash	—			—			(4,573		)	(4,573		)
Net decrease in cash and cash equivalents	(25,046		)	(8		)	(12,025		)	(37,079		)
Cash and cash equivalents, beginning of period	59,740			13			83,817			143,570
Cash and cash equivalents, end of period	$	34,694		$	5		$	71,792		$	106,491

(Amounts in thousands)	Condensed Consolidating Statements of Cash Flows For the Six Months Ended June 30, 2017
	Titan  Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash (used for) provided by operating activities	$	(43,700	)	$	2,191		$	10,956		$	(30,553	)
Cash flows from investing activities:
Capital expenditures	(716		)	(2,534		)	(11,902		)	(15,152		)
Certificates of deposit	40,000			—			—			40,000
Other, net	—			344			694			1,038
Net cash provided by (used for) investing activities	39,284			(2,190		)	(11,208		)	25,886
Cash flows from financing activities:
Proceeds from borrowings	—			—			27,742			27,742
Payment on debt	(3,393		)	—			(25,684		)	(29,077		)
Dividends paid	(570		)	—			—			(570		)
Net cash (used for) provided by financing activities	(3,963		)	—			2,058			(1,905		)
Effect of exchange rate change on cash	—			—			1,981			1,981
Net (decrease) increase in cash and cash equivalents	(8,379		)	1			3,787			(4,591		)
Cash and cash equivalents, beginning of period	86,190			9			61,628			147,827
Cash and cash equivalents, end of period	$	77,811		$	10		$	65,415		$	143,236

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ACCOUNTING POLICIES (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			$ 123
Long-term Debt	$ 394,700		$ 394,700
Common Stock, Dividends, Per Share, Declared	$ 0.005	$ 0.005	$ 0.010	$ 0.010
Inventory, Net	$ 372,732		$ 372,732		$ 339,446	$ 339,836
Other current liabilities	129,057		129,057		133,261	133,774
Retained Earnings (Accumulated Deficit)	(22,471)		(22,471)		(43,934)	(44,022)
Stockholders' Equity Attributable to Noncontrolling Interest	(7,112)		(7,112)		$ (10,810)	(10,845)
Debt Instrument, Fair Value Disclosure	$ 397,000		$ 397,000
Senior Secured Notes 6.50 Percent [Member] [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.50%		6.50%
Operating Segments [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	$ 428,904	$ 364,399	$ 854,286	$ 721,900
Operating Segments [Member] | Agricultural [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	186,870	172,923	381,037	353,439
Operating Segments [Member] | Earthmoving/construction [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	198,963	150,970	387,696	286,589
Operating Segments [Member] | Consumer [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	43,071	$ 40,506	85,553	$ 81,872
Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 400		$ 900
Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Inventory, Net						(390)
Other current liabilities						(513)
Retained Earnings (Accumulated Deficit)						88
Stockholders' Equity Attributable to Noncontrolling Interest						$ 35

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ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Receivables [Abstract]
Accounts receivable	$ 285,712	$ 229,677
Allowance for doubtful accounts	3,312	2,974
Accounts receivable, net	$ 282,400	$ 226,703

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INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw material	$ 99,198	$ 83,541
Work-in-process	45,069	40,525
Finished goods	228,465	215,770
Inventory, Gross	$ 372,732	$ 339,836

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PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,016,584		$ 1,033,485
Less accumulated depreciation	(623,320)		(612,237)
Property, Plant and Equipment, Net	393,264		421,248
Depreciation	28,300	$ 27,400
Capital Leases, Balance Sheet, Assets by Major Class, Net	6,600
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	44,145		46,998
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	255,716		264,078
Capital Leased Assets, Gross	3,897		4,056
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation	(2,257)		(2,294)
Capital Leases, Balance Sheet, Assets by Major Class, Net	1,640		1,762
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	592,557		598,411
Capital Leased Assets, Gross	31,633		32,379
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation	(26,694)		(27,260)
Capital Leases, Balance Sheet, Assets by Major Class, Net	4,939		5,119
Tools, Dies and Molds [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	108,987		108,649
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 15,179		$ 15,349

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INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	9 years 2 months 12 days
Finite-Lived Customer Relationships, Gross	$ 13,609		$ 13,922
Finite-Lived Intangible Asset, Useful Life	7 years 7 months 6 days
Finite-Lived Trademarks, Gross	$ 14,328		15,208
Finite-Lived Intangible Assets, Gross	27,937		29,130
Finite-Lived Intangible Assets, Accumulated Amortization	(14,614)		(13,855)
Intangible Assets, Net (Excluding Goodwill)	13,323		$ 15,275
Amortization of Intangible Assets	1,300	$ 1,500
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
July 1 - December 31, 2018	1,203
2019	2,306
2020	2,285
2021	1,164
2022	1,067
Thereafter	$ 5,298

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WARRANTY (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Product Warranty Liability [Line Items]
Warranty liability at January 1	$ 18,612	$ 17,926
Provision for warranty liabilities	4,213	3,112
Warranty payments made	(3,818)	(3,378)
Warranty liability at June 30	$ 19,007	$ 17,660

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REVOLVING CREDIT FACILITY AND LONG-TERM DEBT (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Debt Instruments [Abstract]
6.50% senior secured notes due 2023	$ 394,700
Capital leases	520	$ 489
Long-term Debt and Capital Lease Obligations, Including Current Maturities	461,971	450,822
Short-term debt	52,358	43,651
Long-term debt	409,613	407,171
Debt Instrument, Unamortized Discount	(5,304)	(5,716)
Debt Instrument, Unamortized Discount, Noncurrent	0	0
Debt Instrument, Unamortized Discount, Current	0	0
Debt Instrument, Unamortized Discount (Premium), Net	(5,304)
Maturities of Long-term Debt [Abstract]
July 1 - December 31, 2018	25,358
2019	29,832
2020	8,535
2021	2,921
2022	254
Thereafter	400,375
Line of Credit Facility, Maximum Borrowing Capacity	75,000
Letters of Credit Outstanding, Amount	12,300
Line of Credit Facility, Current Borrowing Capacity	$ 62,700
Senior Secured Notes 6.50 Percent [Member] [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage	6.79%
Maturities of Long-term Debt [Abstract]
Debt Instrument, Interest Rate, Stated Percentage	6.50%
Senior Secured Notes 6.875 Percent [Member]
Debt Instruments [Abstract]
6.50% senior secured notes due 2023	$ 400,000	400,000
Long-term Debt	394,696	394,284
Debt Instrument, Unamortized Discount	(5,304)	(5,716)
Titan Europe [Member]
Debt Instruments [Abstract]
Other Borrowings	34,186	33,485
Debt Instrument, Unamortized Discount, Noncurrent	$ 0	0
Titan Europe [Member] | Minimum [Member]
Maturities of Long-term Debt [Abstract]
Debt Instrument, Interest Rate, Stated Percentage	5.00%
Titan Europe [Member] | Maximum [Member]
Maturities of Long-term Debt [Abstract]
Debt Instrument, Interest Rate, Stated Percentage	6.90%
Other Debt Obligations [Member]
Debt Instruments [Abstract]
Other debt	$ 32,569	22,564
Debt Instrument, Unamortized Discount, Noncurrent	0	0
Titan Brazil [Member]
Debt Instruments [Abstract]
Other debt	8,700
Voltyre-Prom [Member]
Debt Instruments [Abstract]
Other debt	23,800
Long-term Debt [Member]
Debt Instruments [Abstract]
Long-term Debt and Capital Lease Obligations, Including Current Maturities	467,275	456,538
Long-term debt	$ 414,917	412,887
Accounting Standards Update 2015-03 [Member]
Debt Instruments [Abstract]
Debt Instrument, Unamortized Discount (Premium), Net		$ (5,716)

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DERIVATIVE FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative, Gain (Loss) on Derivative, Net	$ 0.4	$ 0.2

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REDEEMABLE NONCONTROLLING INTEREST (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Redeemable Noncontrolling Interest [Line Items]
Balance at January 1			$ 113,193	$ 104,809
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest			(461)	(190)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax, Portion Attributable to Noncontrolling Interest			(2,207)	1,121
Redemption value adjustment	$ 4,678	$ 4,040	7,021	3,099
Balance at June 30	$ 117,546	$ 108,839	117,546	$ 108,839
Additional paid-in capital [Member]
Redeemable Noncontrolling Interest [Line Items]
Redemption value adjustment			$ (7,021)

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LEASE COMMITMENTS (Details) $ in Thousands	Jun. 30, 2018 USD ($)
Operating Leases, Future Minimum Payments Due [Abstract]
July 1 - December 31, 2018	$ 4,177
2019	7,185
2020	5,050
2021	4,006
2022	3,034
Thereafter	6,831
Total future minimum lease payments	30,283
Capital Leases, Balance Sheet, Assets by Major Class, Net	6,600
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
July 1 - December 31, 2018	168
2019	159
2020	55
2021	41
2022	43
Thereafter	53
Total future capital lease obligation payments	519
Less amount representing interest	(4)
Present value of future capital lease obligation payments	$ 515

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EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 1,700
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year	3,700		$ 3,700
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	141	$ 128	278	$ 353
Interest cost	1,098	1,163	2,181	2,334
Expected return on assets	(1,491)	(1,368)	(2,983)	(2,737)
Amortization of unrecognized prior service cost	50	34	100	68
Amortization of net unrecognized loss	690	655	1,366	1,329
Net periodic pension cost	$ 488	$ 612	$ 942	$ 1,347

XML

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016	Feb. 08, 2016
Variable Interest Entity [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 106,491		$ 143,570	$ 143,236	$ 147,827
Inventories	372,732	$ 339,446	339,836
Property, Plant and Equipment, Net	393,264		421,248
Other Assets, Noncurrent	80,854		85,671
Total assets	1,310,370		1,290,112
Total current liabilities	407,456		372,922
Total liabilities	894,866		866,835
Accounts payable	226,041		195,497
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Cash and Cash Equivalents, at Carrying Value	8,911		10,621
Inventories	12,599		13,494
Other Assets, Current	39,244		36,334
Property, Plant and Equipment, Net	31,262		33,717
Other Assets, Noncurrent	3,880		4,250
Total assets	95,896		98,416
Total current liabilities	36,749		32,172
Liabilities, Noncurrent	7,613		8,291
Total liabilities	44,362		40,463
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Other Assets, Current	1,267		1,261
Investments	4,034		3,823
Total VIE assets	5,301		5,084
Accounts payable	1,972		1,413
Maximum exposure to loss	$ 7,273		$ 6,497
Titan Tire Reclamation Corporation [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	50.00%
Titan National Australia Holdings [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	40.00%
Titan Tire Russia B.V. [Member]
Variable Interest Entity [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent						43.00%

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ROYALTY EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Other Income and Expenses [Abstract]
Royalty expense	$ 2,634	$ 2,533	$ 5,297	$ 5,142

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OTHER INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Other Income and Expenses [Abstract]
Equity investment income	$ 1,067	$ 530	$ 2,183	$ 1,350
Interest income	532	801	1,149	1,774
Building rental income	410	595	988	1,195
Investment gain related to investments for deferred compensation	567	497	688	1,347
Other (expense) income	(99)	(673)	5,219	(1,239)
Nonoperating Income (Expense)	$ 2,477	$ 1,750	$ 10,227	$ 4,427

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INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 1,683	$ 126	$ 897	$ 3,568
Effective Income Tax Rate, Continuing Operations	23.00%	(2.00%)	4.00%	(26.00%)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%		35.00%

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EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss) attributable to Titan	$ 5,697	$ (6,293)	$ 22,062	$ (17,746)
Redemption value adjustment	(4,678)	(4,040)	(7,021)	(3,099)
Net income (loss) applicable to common shareholders	$ 1,019	$ (10,333)	$ 15,041	$ (20,845)
Weighted Average Number of Shares Outstanding, Basic	59,750	59,577	59,731	59,067
Effect of stock options/trusts	128	0	146	0
Weighted average shares outstanding (diluted)	59,878	59,577	59,877	59,067
Earnings Per Share, Basic and Diluted	$ 0.02	$ (0.17)	$ 0.25	$ (0.35)
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			200
5.625% convertible senior subordinated notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			500

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LITIGATION (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2016
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	$ 6,500
Accrual for Environmental Loss Contingencies, Revision in Estimates	1,050
Judicial Ruling [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual		$ 1,620
Accrual for Environmental Loss Contingencies, Revision in Estimates	5,450
Unfavorable Regulatory Action [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual	$ 5,450

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SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Gross profit (loss)	$ 58,312	$ 44,020	$ 117,873	$ 84,221
Income (loss) from operations	16,225	4,416	34,325	(2,173)
Interest expense	(7,672)	(7,320)	(15,190)	(15,041)
Foreign Currency Transaction Gain (Loss), before Tax	(3,610)	(5,257)	(8,042)	(767)
Other income, net	2,477	1,750	10,227	4,427
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	7,420	(6,411)	21,320	(13,554)
Assets	1,310,370		1,310,370		$ 1,290,112
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	428,904	364,399	854,286	721,900
Gross profit (loss)	58,312	44,020	117,873	84,221
Income (loss) from operations	16,225	4,416	34,325	(2,173)
Operating Segments [Member] | Agricultural [Member]
Segment Reporting Information [Line Items]
Revenues	186,870	172,923	381,037	353,439
Gross profit (loss)	27,270	23,037	57,231	44,916
Income (loss) from operations	19,002	14,224	40,323	26,969
Assets	470,466		470,466		444,783
Operating Segments [Member] | Earthmoving/construction [Member]
Segment Reporting Information [Line Items]
Revenues	198,963	150,970	387,696	286,589
Gross profit (loss)	24,260	14,254	46,722	27,152
Income (loss) from operations	11,575	2,322	21,528	3,384
Assets	576,842		576,842		537,855
Operating Segments [Member] | Consumer [Member]
Segment Reporting Information [Line Items]
Revenues	43,071	40,506	85,553	81,872
Gross profit (loss)	6,782	6,729	13,920	12,153
Income (loss) from operations	3,651	3,536	7,598	5,051
Assets	131,943		131,943		157,133
Operating Segments [Member] | Unallocated Amount to Segment [Member]
Segment Reporting Information [Line Items]
Income (loss) from operations	(18,003)	(15,666)	(35,124)	(37,577)
Assets	131,119		131,119		$ 150,341
Unallocated Amount to Segment [Member]
Segment Reporting Information [Line Items]
Interest expense	(7,672)	(7,320)	(15,190)	(15,041)
Foreign Currency Transaction Gain (Loss), before Tax	(3,610)	(5,257)	(8,042)	(767)
Other income, net	$ 2,477	$ 1,750	$ 10,227	$ 4,427

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SEGMENT INFORMATION ASSETS (details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Assets	$ 1,310,370	$ 1,290,112
Operating Segments [Member] | Agricultural [Member]
Segment Reporting Information [Line Items]
Assets	470,466	444,783
Operating Segments [Member] | Earthmoving/construction [Member]
Segment Reporting Information [Line Items]
Assets	576,842	537,855
Operating Segments [Member] | Consumer [Member]
Segment Reporting Information [Line Items]
Assets	131,943	157,133
Operating Segments [Member] | Unallocated Amount to Segment [Member]
Segment Reporting Information [Line Items]
Assets	$ 131,119	$ 150,341

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FAIR VALUE MEASUREMENTS (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments for contractual obligations		$ 14,268	$ 12,393
Derivative Asset		600	458
Other Assets, Fair Value Disclosure	$ 111	111	154
Assets, Fair Value Disclosure		14,979	13,005
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Preferred stock at end of period	111
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments for contractual obligations		14,268	12,393
Derivative Asset		0	0
Other Assets, Fair Value Disclosure	0	0	0
Assets, Fair Value Disclosure		14,268	12,393
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Preferred stock at end of period	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments for contractual obligations		0	0
Derivative Asset		600	458
Other Assets, Fair Value Disclosure	0	0	0
Assets, Fair Value Disclosure		600	458
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Preferred stock at end of period	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments for contractual obligations		0	0
Derivative Asset		0	0
Other Assets, Fair Value Disclosure	111	111	154
Assets, Fair Value Disclosure		$ 111	$ 154
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Fair Value Adjustment	(43)
Preferred stock at end of period	$ 111

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RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Related Party Transaction, Revenues from Transactions with Related Party	$ 0.3	$ 0.5	$ 0.6	$ 1.0
Related Party Transaction, Due from (to) Related Party	0.2		0.2		$ 0.4
Related Party Transaction, Expenses from Transactions with Related Party	$ 0.5	0.3	$ 1.0	$ 0.7
Equity Method Investment, Ownership Percentage	21.40%		21.40%
OTR Group [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	$ 0.0	$ 0.1	$ 0.3
Valuepart and Track Solutions PTY Ltd. [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Revenues from Transactions with Related Party	$ 0.1		$ 0.2

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (165,964)	$ (165,964)	$ (125,526)	$ (132,949)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent	(36,113)	(28,690)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	(4,325)	(4,325)
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	(22,554)	(22,554)	(23,244)	(24,127)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), after Tax	690	1,573
Accumulated other comprehensive loss	$ (188,518)	$ (188,518)	$ (148,770)	$ (157,076)

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SUBSIDIARY GUARANTOR FINANCIAL INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Net sales	$ 428,904	$ 364,399	$ 854,286	$ 721,900
Cost of sales	370,592	320,379	736,413	637,679
Gross profit (loss)	58,312	44,020	117,873	84,221
Selling, General and Administrative Expense	36,699	34,463	72,620	75,801
Research and Development Expense	2,754	2,608	5,631	5,451
Royalty expense	2,634	2,533	5,297	5,142
Income (loss) from operations	16,225	4,416	34,325	(2,173)
Interest expense	(7,672)	(7,320)	(15,190)	(15,041)
Intercompany Interest Expense Income	0	0	0	0
Foreign Currency Transaction Gain (Loss), before Tax	(3,610)	(5,257)	(8,042)	(767)
Other income (expense)	(2,477)	(1,750)	(10,227)	(4,427)
Income (loss) before income taxes	7,420	(6,411)	21,320	(13,554)
Provision for income taxes	1,683	126	897	3,568
Equity in Net Earnings (Loss) of Subsidiaries	0	0	0	0
Net income (loss)	5,737	(6,537)	20,423	(17,122)
Net income (loss) attributable to noncontrolling interests	40	(244)	(1,639)	624
Net income (loss) attributable to Titan	5,697	(6,293)	22,062	(17,746)
Comprehensive Income Statement [Abstract]
Net income (loss)	5,737	(6,537)	20,423	(17,122)
Currency translation adjustment	(38,338)	8,006	(30,276)	19,025
Pension liability adjustments, net of tax	690	989	1,573	1,722
Comprehensive income (loss)	(31,911)	2,458	(8,280)	3,625
Net comprehensive loss attributable to redeemable and noncontrolling interests	(2,185)	(1,562)	(3,225)	1,221
Comprehensive income (loss) attributable to Titan	(29,726)	4,020	(5,055)	2,404
Statement of Financial Position [Abstract]
Cash and cash equivalents	106,491	143,236	106,491	143,236		$ 143,570	$ 147,827
Accounts Receivable, Net, Current	282,400		282,400			226,703
Inventory, Net	372,732		372,732		$ 339,446	339,836
Prepaid Expense and Other Assets, Current	74,629		74,629			73,084
Total current assets	836,252		836,252			783,193
Property, Plant and Equipment, Net	393,264		393,264			421,248
Equity Method Investments	0		0			0
Other Assets, Noncurrent	80,854		80,854			85,671
Total assets	1,310,370		1,310,370			1,290,112
Short-term debt	52,358		52,358			43,651
Accounts payable	226,041		226,041			195,497
Other current liabilities	129,057		129,057		133,261	133,774
Total current liabilities	407,456		407,456			372,922
Long-term debt	409,613		409,613			407,171
Liabilities, Other than Long-term Debt, Noncurrent	77,797		77,797			86,742
Intercompany Accounts, Net	0		0			0
Redeemable noncontrolling interest	117,546	108,839	117,546	108,839		113,193	104,809
Stockholders' Equity Attributable to Parent	305,070		305,070			320,929
Stockholders' Equity Attributable to Noncontrolling Interest	(7,112)		(7,112)		$ (10,810)	(10,845)
Total liabilities and equity	1,310,370		1,310,370			1,290,112
Statement of Cash Flows [Abstract]
Net cash provided by (used for) operating activities			(29,927)	(30,553)
Capital expenditures			(18,416)	(15,152)
Proceeds from Sale and Maturity of Marketable Securities			0	40,000
Payments for (Proceeds from) Other Investing Activities			884	1,038
Net cash provided by (used for) investing activities			(17,532)	25,886
Proceeds from borrowings			40,078	27,742
Repayments of Other Debt			(24,527)	(29,077)
Payments of Dividends, Common Stock			(598)	(570)
Net cash provided by (used for) financing activities			14,953	(1,905)
Effect of Exchange Rate on Cash and Cash Equivalents			(4,573)	1,981
Cash and Cash Equivalents, Period Increase (Decrease)			(37,079)	(4,591)
Cash and cash equivalents	106,491	143,236	106,491	143,236		143,570	147,827
Parent Company [Member]
Income Statement [Abstract]
Net sales	0	0	0	0
Cost of sales	138	87	246	156
Gross profit (loss)	(138)	(87)	(246)	(156)
Selling, General and Administrative Expense	1,678	3,066	2,873	7,938
Research and Development Expense	253	0	493	0
Royalty expense	628	250	881	667
Income (loss) from operations	(2,697)	(3,403)	(4,493)	(8,761)
Interest expense	(6,826)	(7,234)	(13,639)	(14,679)
Intercompany Interest Expense Income	628	588	1,251	1,169
Foreign Currency Transaction Gain (Loss), before Tax	0	0	0	0
Other income (expense)	(959)	(931)	(6,628)	(2,212)
Income (loss) before income taxes	(7,936)	(9,118)	(10,253)	(20,059)
Provision for income taxes	(2,390)	(3,185)	(12,456)	(1,510)
Equity in Net Earnings (Loss) of Subsidiaries	11,283	(603)	18,220	4,372
Net income (loss)	5,737	(6,536)	20,423	(14,177)
Net income (loss) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Titan	5,737	(6,536)	20,423	(14,177)
Comprehensive Income Statement [Abstract]
Net income (loss)	5,737	(6,536)	20,423	(14,177)
Currency translation adjustment	(38,338)	8,006	(30,276)	19,025
Pension liability adjustments, net of tax	690	989	1,573	1,722
Comprehensive income (loss)	(31,911)	2,459	(8,280)	6,570
Net comprehensive loss attributable to redeemable and noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Titan	(31,911)	2,459	(8,280)	6,570
Statement of Financial Position [Abstract]
Cash and cash equivalents	34,694	77,811	34,694	77,811		59,740	86,190
Accounts Receivable, Net, Current	0		0			0
Inventory, Net	0		0			0
Prepaid Expense and Other Assets, Current	18,042		18,042			17,789
Total current assets	52,736		52,736			77,529
Property, Plant and Equipment, Net	9,510		9,510			2,466
Equity Method Investments	764,208		764,208			766,777
Other Assets, Noncurrent	6,310		6,310			6,389
Total assets	832,764		832,764			853,161
Short-term debt	0		0			0
Accounts payable	2,212		2,212			4,258
Other current liabilities	30,169		30,169			38,495
Total current liabilities	32,381		32,381			42,753
Long-term debt	394,696		394,696			394,284
Liabilities, Other than Long-term Debt, Noncurrent	9,087		9,087			11,544
Intercompany Accounts, Net	81,949		81,949			75,103
Redeemable noncontrolling interest	0		0			0
Stockholders' Equity Attributable to Parent	314,651		314,651			329,477
Stockholders' Equity Attributable to Noncontrolling Interest	0		0			0
Total liabilities and equity	832,764		832,764			853,161
Statement of Cash Flows [Abstract]
Net cash provided by (used for) operating activities			(24,585)	(43,700)
Capital expenditures			(83)	(716)
Proceeds from Sale and Maturity of Marketable Securities				40,000
Payments for (Proceeds from) Other Investing Activities			220	0
Net cash provided by (used for) investing activities			137	39,284
Proceeds from borrowings			0	0
Repayments of Other Debt			0	(3,393)
Payments of Dividends, Common Stock			(598)	(570)
Net cash provided by (used for) financing activities			(598)	(3,963)
Effect of Exchange Rate on Cash and Cash Equivalents			0	0
Cash and Cash Equivalents, Period Increase (Decrease)			(25,046)	(8,379)
Cash and cash equivalents	34,694	77,811	34,694	77,811		59,740	86,190
Guarantor Subsidiaries [Member]
Income Statement [Abstract]
Net sales	166,757	147,244	337,517	291,080
Cost of sales	140,208	129,743	281,738	256,163
Gross profit (loss)	26,549	17,501	55,779	34,917
Selling, General and Administrative Expense	16,985	14,043	32,260	31,313
Research and Development Expense	983	950	1,969	1,853
Royalty expense	940	1,410	2,453	2,704
Income (loss) from operations	7,641	1,098	19,097	(953)
Interest expense	0	0	0	0
Intercompany Interest Expense Income	909	1,947	1,922	1,946
Foreign Currency Transaction Gain (Loss), before Tax	(662)	(41)	(670)	(41)
Other income (expense)	147	317	313	753
Income (loss) before income taxes	7,741	2,687	20,036	199
Provision for income taxes	3,044	1,321	7,304	1,495
Equity in Net Earnings (Loss) of Subsidiaries	0	0	0	0
Net income (loss)	4,697	1,366	12,732	(1,296)
Net income (loss) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Titan	4,697	1,366	12,732	(1,296)
Comprehensive Income Statement [Abstract]
Net income (loss)	4,697	1,366	12,732	(1,296)
Currency translation adjustment	0	0	0	0
Pension liability adjustments, net of tax	646	625	1,292	1,250
Comprehensive income (loss)	5,343	1,991	14,024	(46)
Net comprehensive loss attributable to redeemable and noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Titan	5,343	1,991	14,024	(46)
Statement of Financial Position [Abstract]
Cash and cash equivalents	5	10	5	10		13	9
Accounts Receivable, Net, Current	79,909		79,909			54,009
Inventory, Net	112,238		112,238			96,036
Prepaid Expense and Other Assets, Current	19,948		19,948			20,917
Total current assets	212,100		212,100			170,975
Property, Plant and Equipment, Net	103,374		103,374			110,470
Equity Method Investments	0		0			0
Other Assets, Noncurrent	958		958			967
Total assets	316,432		316,432			282,412
Short-term debt	0		0			0
Accounts payable	30,349		30,349			20,787
Other current liabilities	31,717		31,717			30,170
Total current liabilities	62,066		62,066			50,957
Long-term debt	0		0			0
Liabilities, Other than Long-term Debt, Noncurrent	14,387		14,387			16,458
Intercompany Accounts, Net	(275,567)		(275,567)			(286,525)
Redeemable noncontrolling interest	0		0			0
Stockholders' Equity Attributable to Parent	515,546		515,546			501,522
Stockholders' Equity Attributable to Noncontrolling Interest	0		0			0
Total liabilities and equity	316,432		316,432			282,412
Statement of Cash Flows [Abstract]
Net cash provided by (used for) operating activities			3,265	2,191
Capital expenditures			(3,274)	(2,534)
Proceeds from Sale and Maturity of Marketable Securities				0
Payments for (Proceeds from) Other Investing Activities			1	344
Net cash provided by (used for) investing activities			(3,273)	(2,190)
Proceeds from borrowings			0	0
Repayments of Other Debt			0	0
Payments of Dividends, Common Stock			0	0
Net cash provided by (used for) financing activities			0	0
Effect of Exchange Rate on Cash and Cash Equivalents			0	0
Cash and Cash Equivalents, Period Increase (Decrease)			(8)	1
Cash and cash equivalents	5	10	5	10		13	9
Non-Guarantor Subsidiaries [Member]
Income Statement [Abstract]
Net sales	262,147	217,155	516,769	430,820
Cost of sales	230,246	190,549	454,429	381,360
Gross profit (loss)	31,901	26,606	62,340	49,460
Selling, General and Administrative Expense	18,036	17,354	37,487	36,550
Research and Development Expense	1,518	1,658	3,169	3,598
Royalty expense	1,066	873	1,963	1,771
Income (loss) from operations	11,281	6,721	19,721	7,541
Interest expense	(846)	(86)	(1,551)	(362)
Intercompany Interest Expense Income	(1,537)	(2,535)	(3,173)	(3,115)
Foreign Currency Transaction Gain (Loss), before Tax	(2,948)	(5,216)	(7,372)	(726)
Other income (expense)	(1,665)	(1,136)	(3,912)	(2,968)
Income (loss) before income taxes	7,615	20	11,537	6,306
Provision for income taxes	1,029	1,990	6,049	3,583
Equity in Net Earnings (Loss) of Subsidiaries	209	(3,686)	4,546	(8,409)
Net income (loss)	6,795	(5,656)	10,034	(5,686)
Net income (loss) attributable to noncontrolling interests	40	(244)	(1,639)	624
Net income (loss) attributable to Titan	6,755	(5,412)	11,673	(6,310)
Comprehensive Income Statement [Abstract]
Net income (loss)	6,795	(5,656)	10,034	(5,686)
Currency translation adjustment	(38,338)	8,006	(30,276)	(19,025)
Pension liability adjustments, net of tax	44	364	281	472
Comprehensive income (loss)	(31,499)	2,714	(19,961)	(24,239)
Net comprehensive loss attributable to redeemable and noncontrolling interests	(2,185)	(1,562)	(3,225)	1,221
Comprehensive income (loss) attributable to Titan	(29,314)	4,276	(16,736)	(25,460)
Statement of Financial Position [Abstract]
Cash and cash equivalents	71,792	65,415	71,792	65,415		83,817	61,628
Accounts Receivable, Net, Current	202,491		202,491			172,694
Inventory, Net	260,494		260,494			243,800
Prepaid Expense and Other Assets, Current	36,639		36,639			34,378
Total current assets	571,416		571,416			534,689
Property, Plant and Equipment, Net	280,380		280,380			308,312
Equity Method Investments	78,920		78,920			74,003
Other Assets, Noncurrent	73,586		73,586			78,315
Total assets	1,004,302		1,004,302			995,319
Short-term debt	52,358		52,358			43,651
Accounts payable	193,480		193,480			170,452
Other current liabilities	67,171		67,171			65,109
Total current liabilities	313,009		313,009			279,212
Long-term debt	14,917		14,917			12,887
Liabilities, Other than Long-term Debt, Noncurrent	54,323		54,323			58,740
Intercompany Accounts, Net	193,618		193,618			211,422
Redeemable noncontrolling interest	117,546		117,546			113,193
Stockholders' Equity Attributable to Parent	318,001		318,001			330,710
Stockholders' Equity Attributable to Noncontrolling Interest	(7,112)		(7,112)			(10,845)
Total liabilities and equity	1,004,302		1,004,302			995,319
Statement of Cash Flows [Abstract]
Net cash provided by (used for) operating activities			(8,607)	10,956
Capital expenditures			(15,059)	(11,902)
Proceeds from Sale and Maturity of Marketable Securities				0
Payments for (Proceeds from) Other Investing Activities			663	694
Net cash provided by (used for) investing activities			(14,396)	(11,208)
Proceeds from borrowings			40,078	27,742
Repayments of Other Debt			(24,527)	(25,684)
Payments of Dividends, Common Stock			0	0
Net cash provided by (used for) financing activities			15,551	2,058
Effect of Exchange Rate on Cash and Cash Equivalents			(4,573)	1,981
Cash and Cash Equivalents, Period Increase (Decrease)			(12,025)	3,787
Cash and cash equivalents	71,792	65,415	71,792	65,415		83,817	$ 61,628
Consolidation, Eliminations [Member]
Income Statement [Abstract]
Net sales	0	0	0	0
Cost of sales	0	0	0	0
Gross profit (loss)	0	0	0	0
Selling, General and Administrative Expense	0	0	0	0
Research and Development Expense	0	0	0	0
Royalty expense	0	0	0	0
Income (loss) from operations	0	0	0	0
Interest expense	0	0	0	0
Intercompany Interest Expense Income	0	0	0	0
Foreign Currency Transaction Gain (Loss), before Tax	0	0	0	0
Other income (expense)	0	0	0	0
Income (loss) before income taxes	0	0	0	0
Provision for income taxes	0	0	0	0
Equity in Net Earnings (Loss) of Subsidiaries	(11,492)	4,289	(22,766)	4,037
Net income (loss)	(11,492)	4,289	(22,766)	4,037
Net income (loss) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Titan	(11,492)	4,289	(22,766)	4,037
Comprehensive Income Statement [Abstract]
Net income (loss)	(11,492)	4,289	(22,766)	4,037
Currency translation adjustment	38,338	(8,006)	30,276	19,025
Pension liability adjustments, net of tax	(690)	(989)	(1,573)	(1,722)
Comprehensive income (loss)	26,156	(4,706)	5,937	21,340
Net comprehensive loss attributable to redeemable and noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Titan	26,156	$ (4,706)	5,937	$ 21,340
Statement of Financial Position [Abstract]
Cash and cash equivalents	0		0			0
Accounts Receivable, Net, Current	0		0			0
Inventory, Net	0		0			0
Prepaid Expense and Other Assets, Current	0		0			0
Total current assets	0		0			0
Property, Plant and Equipment, Net	0		0			0
Equity Method Investments	(843,128)		(843,128)			(840,780)
Other Assets, Noncurrent	0		0			0
Total assets	(843,128)		(843,128)			(840,780)
Short-term debt	0		0			0
Accounts payable	0		0			0
Other current liabilities	0		0			0
Total current liabilities	0		0			0
Long-term debt	0		0			0
Liabilities, Other than Long-term Debt, Noncurrent	0		0			0
Intercompany Accounts, Net	0		0			0
Redeemable noncontrolling interest	0		0			0
Stockholders' Equity Attributable to Parent	(843,128)		(843,128)			(840,780)
Stockholders' Equity Attributable to Noncontrolling Interest	0		0			0
Total liabilities and equity	(843,128)		(843,128)			(840,780)
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 0		$ 0			$ 0