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SUBSIDIARY GUARANTOR FINANCIAL INFORMATION - 5.625% CONVERTIBLE NOTES (Convertible Senior Subordinated Notes 5.625 Percent [Member]) | 6 Months Ended
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Jun. 30, 2012
Convertible Senior Subordinated Notes 5.625 Percent [Member] |
Condensed Financial Statements, Captions [Line Items] |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | SUBSIDIARY GUARANTOR FINANCIAL INFORMATION - 5.625% CONVERTIBLE NOTES The Company's 5.625% convertible senior subordinated notes ("convertible notes") are guaranteed by the following 100% owned subsidiaries of the Company: Titan Tire Corporation, Titan Tire Corporation of Bryan, Titan Tire Corporation of Freeport, Titan Tire Corporation of Texas, Titan Wheel Corporation of Illinois, and Titan Wheel Corporation of Virginia. 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. The following condensed consolidating financial statements are presented using the equity method of accounting. Certain sales & marketing expenses recorded by non-guarantor subsidiaries have not been allocated to the guarantor subsidiaries.
(Amounts in thousands) | Consolidating Condensed Statements of Operations For the Three Months Ended June 30, 2012
| Titan Intl., Inc. (Parent) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 373,035 |  |  | $ | 86,198 |  |  | $ | — |  |  | $ | 459,233 |
Cost of sales | 257 |  |  | 297,636 |  |  | 79,254 |  |  | — |  |  | 377,147 |
Gross profit (loss) | (257 | ) |  | 75,399 |  |  | 6,944 |  |  | — |  |  | 82,086 |
Selling, general and administrative expenses | 3,396 |  |  | 15,062 |  |  | 4,952 |  |  | — |  |  | 23,410 |
Research and development expenses | 48 |  |  | 1,081 |  |  | 60 |  |  | — |  |  | 1,189 |
Royalty expense | — |  |  | 1,779 |  |  | 873 |  |  | — |  |  | 2,652 |
Supply agreement termination income | — |  |  | — |  |  | (26,134 | ) |  | — |  |  | (26,134 | )
Income (loss) from operations | (3,701 | ) |  | 57,477 |  |  | 27,193 |  |  | — |  |  | 80,969 |
Interest expense | (6,045 | ) |  | — |  |  | (172 | ) |  | — |  |  | (6,217 | )
Other income | 283 |  |  | 313 |  |  | 17 |  |  | — |  |  | 613 |
Income (loss) before income taxes | (9,463 | ) |  | 57,790 |  |  | 27,038 |  |  | — |  |  | 75,365 |
Provision for income taxes | 1,884 |  |  | 18,872 |  |  | 10,284 |  |  | — |  |  | 31,040 |
Equity in earnings of subsidiaries | 55,672 |  |  | — |  |  | 18,822 |  |  | (74,494 | ) |  | — |
Net income (loss) | 44,325 |  |  | 38,918 |  |  | 35,576 |  |  | (74,494 | ) |  | 44,325 |
Net income noncontrolling interests | — |  |  | — |  |  | — |  |  | 269 |  |  | 269 |
Net income (loss) attributable to Titan | $ | 44,325 |  |  | $ | 38,918 |  |  | $ | 35,576 |  |  | $ | (74,763 | ) |  | $ | 44,056 |
(Amounts in thousands) | Consolidating Condensed Statements of Operations For the Three Months Ended June 30, 2011
| Titan Intl., Inc. (Parent) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 310,392 |  |  | $ | 94,055 |  |  | $ | — |  |  | $ | 404,447 |
Cost of sales | 541 |  |  | 254,116 |  |  | 85,456 |  |  | — |  |  | 340,113 |
Gross profit (loss) | (541 | ) |  | 56,276 |  |  | 8,599 |  |  | — |  |  | 64,334 |
Selling, general and administrative expenses | 4,551 |  |  | 2,462 |  |  | 9,560 |  |  | — |  |  | 16,573 |
Research and development expenses | 4 |  |  | 1,010 |  |  | — |  |  | — |  |  | 1,014 |
Royalty expense | — |  |  | 1,767 |  |  | 583 |  |  | — |  |  | 2,350 |
Income (loss) from operations | (5,096 | ) |  | 51,037 |  |  | (1,544 | ) |  | — |  |  | 44,397 |
Interest expense | (6,032 | ) |  | — |  |  | (117 | ) |  | — |  |  | (6,149 | )
Other income (expense) | 1,879 |  |  | (39 | ) |  | 430 |  |  | — |  |  | 2,270 |
Income (loss) before income taxes | (9,249 | ) |  | 50,998 |  |  | (1,231 | ) |  | — |  |  | 40,518 |
Provision (benefit) for income taxes | (3,397 | ) |  | 18,808 |  |  | (449 | ) |  | — |  |  | 14,962 |
Equity in earnings of subsidiaries | 31,408 |  |  | — |  |  | — |  |  | (31,408 | ) |  | — |
Net income (loss) | 25,556 |  |  | 32,190 |  |  | (782 | ) |  | (31,408 | ) |  | 25,556 |
Net loss noncontrolling interests | — |  |  | — |  |  | — |  |  | (8 | ) |  | (8 | )
Net income (loss) attributable to Titan | $ | 25,556 |  |  | $ | 32,190 |  |  | $ | (782 | ) |  | $ | (31,400 | ) |  | $ | 25,564 |
(Amounts in thousands) | Consolidating Condensed Statements of Operations For the Six Months Ended June 30, 2012
| Titan Intl., Inc. (Parent) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 744,164 |  |  | $ | 178,157 |  |  | $ | — |  |  | $ | 922,321 |
Cost of sales | 559 |  |  | 582,660 |  |  | 163,653 |  |  | — |  |  | 746,872 |
Gross profit (loss) | (559 | ) |  | 161,504 |  |  | 14,504 |  |  | — |  |  | 175,449 |
Selling, general and administrative expenses | 13,983 |  |  | 30,737 |  |  | 9,525 |  |  | — |  |  | 54,245 |
Research and development expenses | 172 |  |  | 2,379 |  |  | 146 |  |  | — |  |  | 2,697 |
Royalty expense | — |  |  | 3,472 |  |  | 1,529 |  |  | — |  |  | 5,001 |
Supply agreement termination income | — |  |  | — |  |  | (26,134 | ) |  | — |  |  | (26,134 | )
Income (loss) from operations | (14,714 | ) |  | 124,916 |  |  | 29,438 |  |  | — |  |  | 139,640 |
Interest expense | (12,107 | ) |  | — |  |  | (405 | ) |  | — |  |  | (12,512 | )
Other income | 2,457 |  |  | 810 |  |  | 457 |  |  | — |  |  | 3,724 |
Income (loss) before income taxes | (24,364 | ) |  | 125,726 |  |  | 29,490 |  |  | — |  |  | 130,852 |
Provision (benefit) for income taxes | (5,068 | ) |  | 43,913 |  |  | 12,288 |  |  | — |  |  | 51,133 |
Equity in earnings of subsidiaries | 99,015 |  |  | — |  |  | 18,822 |  |  | (117,837 | ) |  | — |
Net income (loss) | 79,719 |  |  | 81,813 |  |  | 36,024 |  |  | (117,837 | ) |  | 79,719 |
Net income noncontrolling interests | — |  |  | — |  |  | — |  |  | 244 |  |  | 244 |
Net income (loss) attributable to Titan | $ | 79,719 |  |  | $ | 81,813 |  |  | $ | 36,024 |  |  | $ | (118,081 | ) |  | $ | 79,475 |
(Amounts in thousands) | Consolidating Condensed Statements of Operations For the Six Months Ended June 30, 2011
| Titan Intl., Inc. (Parent) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 591,221 |  |  | $ | 94,055 |  |  | $ | — |  |  | $ | 685,276 |
Cost of sales | 902 |  |  | 477,870 |  |  | 85,898 |  |  | — |  |  | 564,670 |
Gross profit (loss) | (902 | ) |  | 113,351 |  |  | 8,157 |  |  | — |  |  | 120,606 |
Selling, general and administrative expenses | 19,956 |  |  | 5,187 |  |  | 16,723 |  |  | — |  |  | 41,866 |
Research and development expenses | 4 |  |  | 2,193 |  |  | — |  |  | — |  |  | 2,197 |
Royalty expense | — |  |  | 4,684 |  |  | 583 |  |  | — |  |  | 5,267 |
Income (loss) from operations | (20,862 | ) |  | 101,287 |  |  | (9,149 | ) |  | — |  |  | 71,276 |
Interest expense | (12,312 | ) |  | — |  |  | (117 | ) |  | — |  |  | (12,429 | )
Noncash convertible debt conversion charge | (16,135 | ) |  | — |  |  | — |  |  | — |  |  | (16,135 | )
Other income (expense) | 2,196 |  |  | (241 | ) |  | 508 |  |  | — |  |  | 2,463 |
Income (loss) before income taxes | (47,113 | ) |  | 101,046 |  |  | (8,758 | ) |  | — |  |  | 45,175 |
Provision (benefit) for income taxes | (11,436 | ) |  | 37,326 |  |  | (3,235 | ) |  | — |  |  | 22,655 |
Equity in earnings of subsidiaries | 58,197 |  |  | — |  |  | — |  |  | (58,197 | ) |  | — |
Net income (loss) | 22,520 |  |  | 63,720 |  |  | (5,523 | ) |  | (58,197 | ) |  | 22,520 |
Net loss noncontrolling interests | — |  |  | — |  |  | — |  |  | (8 | ) |  | (8 | )
Net income (loss) attributable to Titan | $ | 22,520 |  |  | $ | 63,720 |  |  | $ | (5,523 | ) |  | $ | (58,189 | ) |  | $ | 22,528 |
(Amounts in thousands) | Consolidating Condensed Statements of Comprehensive Income For the Three Months Ended June 30, 2012
| Titan Intl., Inc. (Parent) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) | $ | 44,325 |  |  | $ | 38,918 |  |  | $ | 35,576 |  |  | $ | (74,494 | ) |  | $ | 44,325 |
Unrealized gain (loss) on investments, net of tax | (5,580 | ) |  | — |  |  | (5,580 | ) |  | 5,580 |  |  | (5,580 | )
Currency translation adjustment | (8,136 | ) |  | — |  |  | (8,136 | ) |  | 8,136 |  |  | (8,136 | )
Pension liability adjustments, net of tax | 836 |  |  | 790 |  |  | 46 |  |  | (836 | ) |  | 836 |
Comprehensive income (loss) | 31,445 |  |  | 39,708 |  |  | 21,906 |  |  | (61,614 | ) |  | 31,445 |
Net comprehensive income attributable to noncontrolling interests | — |  |  | — |  |  | — |  |  | 269 |  |  | 269 |
Comprehensive income (loss) attributable to Titan | $ | 31,445 |  |  | $ | 39,708 |  |  | $ | 21,906 |  |  | $ | (61,883 | ) |  | $ | 31,176 |
(Amounts in thousands) | Consolidating Condensed Statements of Comprehensive Income For the Three Months Ended June 30, 2011
| Titan Intl., Inc. (Parent) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) | $ | 25,556 |  |  | $ | 32,190 |  |  | $ | (782 | ) |  | $ | (31,408 | ) |  | $ | 25,556 |
Unrealized gain (loss) on investments, net of tax | 14,645 |  |  | — |  |  | 14,645 |  |  | (14,645 | ) |  | 14,645 |
Currency translation adjustment | 2,932 |  |  | — |  |  | 2,932 |  |  | (2,932 | ) |  | 2,932 |
Pension liability adjustments, net of tax | 592 |  |  | 553 |  |  | 39 |  |  | (592 | ) |  | 592 |
Comprehensive income (loss) | 43,725 |  |  | 32,743 |  |  | 16,834 |  |  | (49,577 | ) |  | 43,725 |
Net comprehensive loss attributable to noncontrolling interests | — |  |  | — |  |  | — |  |  | (8 | ) |  | (8 | )
Comprehensive income (loss) attributable to Titan | $ | 43,725 |  |  | $ | 32,743 |  |  | $ | 16,834 |  |  | $ | (49,569 | ) |  | $ | 43,733 |
(Amounts in thousands) | Consolidating Condensed Statements of Comprehensive Income For the Six Months Ended June 30, 2012
| Titan Intl., Inc. (Parent) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) | $ | 79,719 |  |  | $ | 81,813 |  |  | $ | 36,024 |  |  | $ | (117,837 | ) |  | $ | 79,719 |
Unrealized gain (loss) on investments, net of tax | 337 |  |  | — |  |  | 337 |  |  | (337 | ) |  | 337 |
Currency translation adjustment | (4,569 | ) |  | — |  |  | (4,569 | ) |  | 4,569 |  |  | (4,569 | )
Pension liability adjustments, net of tax | 1,672 |  |  | 1,580 |  |  | 92 |  |  | (1,672 | ) |  | 1,672 |
Comprehensive income (loss) | 77,159 |  |  | 83,393 |  |  | 31,884 |  |  | (115,277 | ) |  | 77,159 |
Net comprehensive income attributable to noncontrolling interests | — |  |  | — |  |  | — |  |  | 244 |  |  | 244 |
Comprehensive income (loss) attributable to Titan | $ | 77,159 |  |  | $ | 83,393 |  |  | $ | 31,884 |  |  | $ | (115,521 | ) |  | $ | 76,915 |
(Amounts in thousands) | Consolidating Condensed Statements of Comprehensive Income For the Six Months Ended June 30, 2011
| Titan Intl., Inc. (Parent) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) | $ | 22,520 |  |  | $ | 63,720 |  |  | $ | (5,523 | ) |  | $ | (58,197 | ) |  | $ | 22,520 |
Unrealized gain (loss) on investments, net of tax | 13,652 |  |  | — |  |  | 13,652 |  |  | (13,652 | ) |  | 13,652 |
Currency translation adjustment | 2,932 |  |  | — |  |  | 2,932 |  |  | (2,932 | ) |  | 2,932 |
Pension liability adjustments, net of tax | 1,185 |  |  | 1,106 |  |  | 79 |  |  | (1,185 | ) |  | 1,185 |
Comprehensive income (loss) | 40,289 |  |  | 64,826 |  |  | 11,140 |  |  | (75,966 | ) |  | 40,289 |
Net comprehensive loss attributable to noncontrolling interests | — |  |  | — |  |  | — |  |  | (8 | ) |  | (8 | )
Comprehensive income (loss) attributable to Titan | $ | 40,289 |  |  | $ | 64,826 |  |  | $ | 11,140 |  |  | $ | (75,958 | ) |  | $ | 40,297 |
(Amounts in thousands) | Consolidating Condensed Balance Sheets June 30, 2012
| Titan Intl., Inc. (Parent) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 140,441 |  |  | $ | 6 |  |  | $ | 9,003 |  |  | $ | — |  |  | $ | 149,450 |
Accounts receivable | — |  |  | 185,758 |  |  | 51,660 |  |  | — |  |  | 237,418 |
Inventories | — |  |  | 169,271 |  |  | 45,587 |  |  | — |  |  | 214,858 |
Prepaid and other current assets | 35,691 |  |  | 18,288 |  |  | 14,431 |  |  | — |  |  | 68,410 |
Total current assets | 176,132 |  |  | 373,323 |  |  | 120,681 |  |  | — |  |  | 670,136 |
Property, plant and equipment, net | 8,159 |  |  | 215,056 |  |  | 101,461 |  |  | — |  |  | 324,676 |
Investment in subsidiaries | 271,414 |  |  | — |  |  | 18,822 |  |  | (290,236 | ) |  | — |
Other assets | 43,035 |  |  | 1,351 |  |  | 54,801 |  |  | — |  |  | 99,187 |
Total assets | $ | 498,740 |  |  | $ | 589,730 |  |  | $ | 295,765 |  |  | $ | (290,236 | ) |  | $ | 1,093,999 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | — |  |  | $ | 7,596 |  |  | $ | — |  |  | $ | 7,596 |
Accounts payable | 939 |  |  | 41,601 |  |  | 67,015 |  |  | — |  |  | 109,555 |
Other current liabilities | (3,870 | ) |  | 61,729 |  |  | 12,605 |  |  | — |  |  | 70,464 |
Total current liabilities | (2,931 | ) |  | 103,330 |  |  | 87,216 |  |  | — |  |  | 187,615 |
Long-term debt | 312,881 |  |  | — |  |  | — |  |  | — |  |  | 312,881 |
Other long-term liabilities | 42,996 |  |  | 36,339 |  |  | 37,092 |  |  | — |  |  | 116,427 |
Intercompany accounts | (329,482 | ) |  | 99,097 |  |  | 230,385 |  |  | — |  |  | — |
Titan stockholders' equity | 475,276 |  |  | 350,964 |  |  | (58,928 | ) |  | (292,036 | ) |  | 475,276 |
Noncontrolling interests | — |  |  | — |  |  | — |  |  | 1,800 |  |  | 1,800 |
Total liabilities and stockholders’ equity | $ | 498,740 |  |  | $ | 589,730 |  |  | $ | 295,765 |  |  | $ | (290,236 | ) |  | $ | 1,093,999 |
(Amounts in thousands) | Consolidating Condensed Balance Sheets December 31, 2011
| Titan Intl., Inc. (Parent) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 125,266 |  |  | $ | 6 |  |  | $ | 3,898 |  |  | $ | — |  |  | $ | 129,170 |
Accounts receivable | — |  |  | 137,226 |  |  | 52,301 |  |  | — |  |  | 189,527 |
Inventories | — |  |  | 162,134 |  |  | 28,738 |  |  | — |  |  | 190,872 |
Prepaid and other current assets | 27,251 |  |  | 15,490 |  |  | 12,283 |  |  | — |  |  | 55,024 |
Total current assets | 152,517 |  |  | 314,856 |  |  | 97,220 |  |  | — |  |  | 564,593 |
Property, plant and equipment, net | 9,562 |  |  | 219,734 |  |  | 105,446 |  |  | — |  |  | 334,742 |
Investment in subsidiaries | 184,317 |  |  | — |  |  | — |  |  | (184,317 | ) |  | — |
Other assets | 44,918 |  |  | 1,454 |  |  | 64,579 |  |  | — |  |  | 110,951 |
Total assets | $ | 391,314 |  |  | $ | 536,044 |  |  | $ | 267,245 |  |  | $ | (184,317 | ) |  | $ | 1,010,286 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | — |  |  | $ | 11,723 |  |  | $ | — |  |  | $ | 11,723 |
Accounts payable | 930 |  |  | 33,563 |  |  | 42,081 |  |  | — |  |  | 76,574 |
Other current liabilities | 22,687 |  |  | 39,457 |  |  | 25,325 |  |  | — |  |  | 87,469 |
Total current liabilities | 23,617 |  |  | 73,020 |  |  | 79,129 |  |  | — |  |  | 175,766 |
Long-term debt | 312,881 |  |  | — |  |  | 5,000 |  |  | — |  |  | 317,881 |
Other long-term liabilities | 29,267 |  |  | 38,187 |  |  | 52,306 |  |  | — |  |  | 119,760 |
Intercompany accounts | (369,690 | ) |  | 157,264 |  |  | 212,426 |  |  | — |  |  | — |
Titan stockholders' equity | 395,239 |  |  | 267,573 |  |  | (81,616 | ) |  | (185,957 | ) |  | 395,239 |
Noncontrolling interests | — |  |  | — |  |  | — |  |  | 1,640 |  |  | 1,640 |
Total liabilities and stockholders’ equity | $ | 391,314 |  |  | $ | 536,044 |  |  | $ | 267,245 |  |  | $ | (184,317 | ) |  | $ | 1,010,286 |
(Amounts in thousands) | Consolidating Condensed Statements of Cash Flows For the Six Months Ended June 30, 2012
| Titan Intl., Inc. (Parent) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidated
Net cash provided by operating activities | $ | 15,859 |  |  | $ | 12,406 |  |  | $ | 20,418 |  |  | $ | 48,683 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | (1,338 | ) |  | (12,595 | ) |  | (5,073 | ) |  | (19,006 | )
Other, net | — |  |  | 189 |  |  | 264 |  |  | 453 |
Net cash used for investing activities | (1,338 | ) |  | (12,406 | ) |  | (4,809 | ) |  | (18,553 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |
Payment on debt | — |  |  | — |  |  | (14,226 | ) |  | (14,226 | )
Term loan borrowing | — |  |  | — |  |  | 4,378 |  |  | 4,378 |
Proceeds from exercise of stock options | 887 |  |  | — |  |  | — |  |  | 887 |
Excess tax benefit from stock options exercised | 190 |  |  | — |  |  | — |  |  | 190 |
Dividends paid | (423 | ) |  | — |  |  | — |  |  | (423 | )
Net cash provided by (used for) financing activities | 654 |  |  | — |  |  | (9,848 | ) |  | (9,194 | )
Effect of exchange rate change on cash | — |  |  | — |  |  | (656 | ) |  | (656 | )
Net increase in cash and cash equivalents | 15,175 |  |  | — |  |  | 5,105 |  |  | 20,280 |
Cash and cash equivalents, beginning of period | 125,266 |  |  | 6 |  |  | 3,898 |  |  | 129,170 |
Cash and cash equivalents, end of period | $ | 140,441 |  |  | $ | 6 |  |  | $ | 9,003 |  |  | $ | 149,450 |
(Amounts in thousands) | Consolidating Condensed Statements of Cash Flows For the Six Months Ended June 30, 2011
| Titan Intl., Inc. (Parent) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidated
Net cash provided by (used for) operating activities | $ | (27,035 | ) |  | $ | 7,157 |  |  | $ | (10,754 | ) |  | $ | (30,632 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | (1,089 | ) |  | (8,070 | ) |  | (1,037 | ) |  | (10,196 | )
Acquisitions, net of cash acquired | (99,118 | ) |  | — |  |  | — |  |  | (99,118 | )
Other, net | — |  |  | 914 |  |  | 481 |  |  | 1,395 |
Net cash used for investing activities | (100,207 | ) |  | (7,156 | ) |  | (556 | ) |  | (107,919 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |
Repurchase of senior unsecured notes | (1,064 | ) |  | — |  |  | — |  |  | (1,064 | )
Term loan borrowing | — |  |  | — |  |  | 14,148 |  |  | 14,148 |
Proceeds from exercise of stock options | 477 |  |  | — |  |  | — |  |  | 477 |
Dividends paid | (387 | ) |  | — |  |  | — |  |  | (387 | )
Net cash provided by (used for) financing activities | (974 | ) |  | — |  |  | 14,148 |  |  | 13,174 |
Effect of exchange rate change on cash | — |  |  | — |  |  | 39 |  |  | 39 |
Net increase (decrease) in cash and cash equivalents | (128,216 | ) |  | 1 |  |  | 2,877 |  |  | (125,338 | )
Cash and cash equivalents, beginning of period | 239,362 |  |  | 6 |  |  | 132 |  |  | 239,500 |
Cash and cash equivalents, end of period | $ | 111,146 |  |  | $ | 7 |  |  | $ | 3,009 |  |  | $ | 114,162 |

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