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LEASE COMMITMENTS (Notes)
 3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Lessee, Operating Leases [Text Block] LEASES
The Company leases certain buildings and equipment under both operating and finance leases.  Certain lease agreements provide for renewal options, fair value purchase options, and payment of property taxes, maintenance, and insurance by the Company. Under FASB Accounting Standards Codification Topic 842 "Leases," the Company made an accounting policy election, by class of underlying asset, not to separate non-lease components such as those previously stated from lease components and instead will treat the lease agreement as a single lease component for all asset classes. Operating right-of-use (ROU) assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent Titan's obligations to make lease payments arising from the lease. The majority of Titan's leases are operating leases. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of Titan's leases do not provide an implicit interest rate, the Company used its incremental borrowing rate (6.79%), based on the information available at the lease commencement date, in determining the present value of lease payments. Operating lease expense is recognized on a straight-line basis over the lease term and is included in cost of sales and selling, general and administrative expenses on the Condensed Consolidated Statements of Operations. Amortization expense associated with finance leases is included in cost of sales and selling, general and administrative expenses, and interest expense associated with finance leases is included in interest expense in the Condensed Consolidated Statements of Operations. Short-term operating leases, which have an initial term of twelve months or less, are not recorded on the Condensed Consolidated Balance Sheets.
Supplemental balance sheet information related to leases was as follows (amounts in thousands):
Balance Sheet ClassificationMarch 31, 2021December 31, 2020
Operating lease ROU assetsOperating lease assets$20,690 $24,356 
Operating lease current liabilitiesOther current liabilities$5,778 $7,533 
Operating lease long-term liabilitiesOther long-term liabilities13,524 17,137 
    Total operating lease liabilities$19,302 $24,670 
Finance lease, grossProperty, plant & equipment, net$7,287 $6,785 
Finance lease accumulated depreciationProperty, plant & equipment, net(3,776)(3,279)
   Finance lease, net$3,511 $3,506 
Finance lease current liabilitiesOther current liabilities$1,616 $608 
Finance lease long-term liabilitiesOther long-term liabilities3,421 2,072 
   Total finance lease liabilities$5,037 $2,680 
At March 31, 2021, maturity of lease liabilities were as follows (amounts in thousands):
Operating LeasesFinance Leases
April 1 - December 31, 2021$5,749 $1,452 
20226,181 1,852 
20234,192 1,362 
20242,182 561 
20251,122 189 
Thereafter2,792 74 
Total lease payments$22,218 $5,490 
Less imputed interest2,916 453 
$19,302 $5,037 
Weighted average remaining lease term (in years)4.183.14
Supplemental cash flow information related to leases for the three months ended March 31, 2021 were as follows: operating cash flows from operating leases were $2.2 million and operating cash flows from finance leases were $0.1 million.
Lessee, Finance Leases [Text Block] LEASES
The Company leases certain buildings and equipment under both operating and finance leases.  Certain lease agreements provide for renewal options, fair value purchase options, and payment of property taxes, maintenance, and insurance by the Company. Under FASB Accounting Standards Codification Topic 842 "Leases," the Company made an accounting policy election, by class of underlying asset, not to separate non-lease components such as those previously stated from lease components and instead will treat the lease agreement as a single lease component for all asset classes. Operating right-of-use (ROU) assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent Titan's obligations to make lease payments arising from the lease. The majority of Titan's leases are operating leases. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of Titan's leases do not provide an implicit interest rate, the Company used its incremental borrowing rate (6.79%), based on the information available at the lease commencement date, in determining the present value of lease payments. Operating lease expense is recognized on a straight-line basis over the lease term and is included in cost of sales and selling, general and administrative expenses on the Condensed Consolidated Statements of Operations. Amortization expense associated with finance leases is included in cost of sales and selling, general and administrative expenses, and interest expense associated with finance leases is included in interest expense in the Condensed Consolidated Statements of Operations. Short-term operating leases, which have an initial term of twelve months or less, are not recorded on the Condensed Consolidated Balance Sheets.
Supplemental balance sheet information related to leases was as follows (amounts in thousands):
Balance Sheet ClassificationMarch 31, 2021December 31, 2020
Operating lease ROU assetsOperating lease assets$20,690 $24,356 
Operating lease current liabilitiesOther current liabilities$5,778 $7,533 
Operating lease long-term liabilitiesOther long-term liabilities13,524 17,137 
    Total operating lease liabilities$19,302 $24,670 
Finance lease, grossProperty, plant & equipment, net$7,287 $6,785 
Finance lease accumulated depreciationProperty, plant & equipment, net(3,776)(3,279)
   Finance lease, net$3,511 $3,506 
Finance lease current liabilitiesOther current liabilities$1,616 $608 
Finance lease long-term liabilitiesOther long-term liabilities3,421 2,072 
   Total finance lease liabilities$5,037 $2,680 
At March 31, 2021, maturity of lease liabilities were as follows (amounts in thousands):
Operating LeasesFinance Leases
April 1 - December 31, 2021$5,749 $1,452 
20226,181 1,852 
20234,192 1,362 
20242,182 561 
20251,122 189 
Thereafter2,792 74 
Total lease payments$22,218 $5,490 
Less imputed interest2,916 453 
$19,302 $5,037 
Weighted average remaining lease term (in years)4.183.14
Supplemental cash flow information related to leases for the three months ended March 31, 2021 were as follows: operating cash flows from operating leases were $2.2 million and operating cash flows from finance leases were $0.1 million.