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OTHER INCOME | 12 Months Ended
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Dec. 31, 2013
Other Income and Expenses [Abstract] |
OTHER INCOME, NET | 22. NONCASH TITAN EUROPE GAIN Noncash Titan Europe gain consisted of the following (amounts in thousands):
| 2013 |  | 2012 |  | 2011
Noncash Titan Europe gain | $ | — |  |  | $ | 26,700 |  |  | $ | — |
In the fourth quarter of 2012, the Company acquired Titan Europe. Prior to the acquisition, Titan held a 21.8% ownership percentage in Titan Europe, which had a fair value on the acquisition date of $31.7 million. As a result of recording the fair value of the investment on the acquisition date, a gain of $26.7 million was recorded on Titan's previously held interest in Titan Europe. This gain was previously recorded in other comprehensive income. OTHER INCOME, NET Other income consisted of the following (amounts in thousands):
| 2013 |  | 2012 |  | 2011
Interest income | $ | 3,396 |  |  | $ | 859 |  |  | $ | 556 |
Discount amortization on prepaid royalty | 3,296 |  |  | 3,736 |  |  | 3,149 |
Other income (expense) | 1,652 |  |  | 95 |  |  | (160 | )
Wheels India Limited equity gain | 1,430 |  |  | 401 |  |  | — |
Investment gain (loss) related to contractual obligation investments | 1,315 |  |  | 1,022 |  |  | (302 | )
Building rental income | 846 |  |  | 710 |  |  | — |
Investment gain on marketable securities | — |  |  | — |  |  | 1,588 |
Currency exchange loss | (4,920 | ) |  | — |  |  | — |
| $ | 7,015 |  |  | $ | 6,823 |  |  | $ | 4,831 |

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.3,6,7,9) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 3, 6, 7, 9 -Article 5 + Details
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