SUBSIDIARY GUARANTOR FINANCIAL INFORMATION (Tables)

6 Months Ended

Jun. 30, 2014

SUBSIDIARY GUARANTOR FINANCIAL INFORMATION [Abstract]

Condensed Financial Information, Condensed Statement of Operations [Table Text Block]



(Amounts in thousands)	Consolidating Condensed Statements of Operations For the Three Months Ended June 30, 2014
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net sales	$	—		$	244,664		$	279,067		$	—	$	523,731
Cost of sales	303			241,915			258,953			—		501,171
Gross profit (loss)	(303		)	2,749			20,114			—		22,560
Selling, general and administrative expenses	2,388			17,611			25,009			—		45,008
Research and development expenses	72			1,214			1,903			—		3,189
Royalty expense	—			1,926			1,904			—		3,830
Loss from operations	(2,763		)	(18,002		)	(8,702		)	—		(29,467		)
Interest expense	(8,255		)	—			(671		)	—		(8,926		)
Intercompany interest income (expense)	1,618			—			(1,618		)	—		—
Other income	1,192			103			5,040			—		6,335
Loss before income taxes	(8,208		)	(17,899		)	(5,951		)	—		(32,058		)
Benefit for income taxes	69			(6,437		)	(799		)	—		(7,167		)
Equity in earnings of subsidiaries	(16,614		)	—			(18,004		)	34,618		—
Net income (loss)	(24,891		)	(11,462		)	(23,156		)	34,618		(24,891		)
Net loss noncontrolling interests	—			—			(4,380		)	—		(4,380		)
Net income (loss) attributable to Titan	$	(24,891	)	$	(11,462	)	$	(18,776	)	$	34,618	$	(20,511	)



(Amounts in thousands)	Consolidating Condensed Statements of Operations For the Three Months Ended June 30, 2013
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	323,482	$	269,809		$	—		$	593,291
Cost of sales	277			261,789		244,570			—			506,636
Gross profit (loss)	(277		)	61,693		25,239			—			86,655
Selling, general and administrative expenses	2,130			20,300		21,223			—			43,653
Research and development expenses	(28		)	1,400		1,429			—			2,801
Royalty expense	—			1,850		1,445			—			3,295
Income (loss) from operations	(2,379		)	38,143		1,142			—			36,906
Interest expense	(10,833		)	—		(2,236		)	—			(13,069		)
Gain on earthquake insurance recovery	—			—		22,451			—			22,451
Intercompany interest income (expense)	2,192			—		(2,192		)	—			—
Other income (expense)	904			2		(3,335		)	—			(2,429		)
Income (loss) before income taxes	(10,116		)	38,145		15,830			—			43,859
Provision for income taxes	6,491			13,637		875			—			21,003
Equity in earnings of subsidiaries	39,463			—		14,892			(54,355		)	—
Net income (loss)	22,856			24,508		29,847			(54,355		)	22,856
Net loss noncontrolling interests	—			—		(361		)	—			(361		)
Net income (loss) attributable to Titan	$	22,856		$	24,508	$	30,208		$	(54,355	)	$	23,217



(Amounts in thousands)	Consolidating Condensed Statements of Operations For the Six Months Ended June 30, 2014
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net sales	$	—		$	508,622		$	554,049		$	—	$	1,062,671
Cost of sales	513			470,154			514,894			—		985,561
Gross profit (loss)	(513		)	38,468			39,155			—		77,110
Selling, general and administrative expenses	4,032			36,601			51,210			—		91,843
Research and development expenses	72			3,367			3,460			—		6,899
Royalty expense	—			3,774			3,797			—		7,571
Loss from operations	(4,617		)	(5,274		)	(19,312		)	—		(29,203		)
Interest expense	(16,517		)	—			(1,668		)	—		(18,185		)
Intercompany interest income (expense)	3,302			—			(3,302		)	—		—
Other income	1,534			48			5,269			—		6,851
Loss before income taxes	(16,298		)	(5,226		)	(19,013		)	—		(40,537		)
Benefit for income taxes	(5,971		)	(1,627		)	(2,920		)	—		(10,518		)
Equity in earnings of subsidiaries	(19,692		)	—			(18,881		)	38,573		—
Net income (loss)	(30,019		)	(3,599		)	(34,974		)	38,573		(30,019		)
Net loss noncontrolling interests	—			—			(11,671		)	—		(11,671		)
Net income (loss) attributable to Titan	$	(30,019	)	$	(3,599	)	$	(23,303	)	$	38,573	$	(18,348	)




(Amounts in thousands)	Consolidating Condensed Statements of Operations For the Six Months Ended June 30, 2013
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	647,376	$	524,302		$	—		$	1,171,678
Cost of sales	667			518,015		469,590			—			988,272
Gross profit (loss)	(667		)	129,361		54,712			—			183,406
Selling, general and administrative expenses	4,447			38,124		43,525			—			86,096
Research and development expenses	(18		)	2,713		2,808			—			5,503
Royalty expense	—			3,628		3,390			—			7,018
Income (loss) from operations	(5,096		)	84,896		4,989			—			84,789
Interest expense	(18,564		)	—		(4,946		)	—			(23,510		)
Convertible debt conversion charge	(7,273		)	—		—			—			(7,273		)
Gain on earthquake insurance recovery	—			—		22,451			—			22,451
Intercompany interest income (expense)	2,689			—		(2,689		)	—			—
Other income (expense)	1,548			26		(2,584		)	—			(1,010		)
Income (loss) before income taxes	(26,696		)	84,922		17,221			—			75,447
Provision (benefit) for income taxes	(1,844		)	30,590		4,456			—			33,202
Equity in earnings of subsidiaries	67,097			—		33,524			(100,621		)	—
Net income (loss)	42,245			54,332		46,289			(100,621		)	42,245
Net loss noncontrolling interests	—			—		(447		)	—			(447		)
Net income (loss) attributable to Titan	$	42,245		$	54,332	$	46,736		$	(100,621	)	$	42,692

Condensed Financial Information, Condensed Statement of Comprehensive Income [Table Text Block]



(Amounts in thousands)	Consolidating Condensed Statements of Comprehensive Income For the Three Months Ended June 30, 2014
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	(24,891	)	$	(11,462	)	$	(23,156	)	$	34,618		$	(24,891	)
Currency translation adjustment, net	7,826			—			7,826			(7,826		)	7,826
Pension liability adjustments, net of tax	28			450			(422		)	(28		)	28
Comprehensive income (loss)	(17,037		)	(11,012		)	(15,752		)	26,764			(17,037		)
Net comprehensive loss attributable to noncontrolling interests	—			—			(1,062		)	—			(1,062		)
Comprehensive income (loss) attributable to Titan	$	(17,037	)	$	(11,012	)	$	(14,690	)	$	26,764		$	(15,975	)



(Amounts in thousands)	Consolidating Condensed Statements of Comprehensive Income For the Three Months Ended June 30, 2013
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	22,856		$	24,508	$	29,847		$	(54,355	)	$	22,856
Currency translation adjustment, net	(25,171		)	—		(25,171		)	25,171			(25,171		)
Pension liability adjustments, net of tax	1,070			781		289			(1,070		)	1,070
Comprehensive income (loss)	(1,245		)	25,289		4,965			(30,254		)	(1,245		)
Net comprehensive income attributable to noncontrolling interests	—			—		(3,167		)	—			(3,167		)
Comprehensive income (loss) attributable to Titan	$	(1,245	)	$	25,289	$	8,132		$	(30,254	)	$	1,922




(Amounts in thousands)	Consolidating Condensed Statements of Comprehensive Income For the Six Months Ended June 30, 2014
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	(30,019	)	$	(3,599	)	$	(34,974	)	$	38,573		$	(30,019	)
Currency translation adjustment, net	8,214			—			8,214			(8,214		)	8,214
Pension liability adjustments, net of tax	745			900			(155		)	(745		)	745
Comprehensive income (loss)	(21,060		)	(2,699		)	(26,915		)	29,614			(21,060		)
Net comprehensive loss attributable to noncontrolling interests	—			—			(13,245		)	—			(13,245		)
Comprehensive income (loss) attributable to Titan	$	(21,060	)	$	(2,699	)	$	(13,670	)	$	29,614		$	(7,815	)




(Amounts in thousands)	Consolidating Condensed Statements of Comprehensive Income For the Six Months Ended June 30, 2013
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	42,245		$	54,332	$	46,289		$	(100,621	)	$	42,245
Unrealized gain (loss) on investments, net of tax	(3		)	—		(3		)	3			(3		)
Currency translation adjustment, net	(25,367		)	—		(25,367		)	25,367			(25,367		)
Pension liability adjustments, net of tax	2,021			1,562		459			(2,021		)	2,021
Comprehensive income (loss)	18,896			55,894		21,378			(77,272		)	18,896
Net comprehensive loss attributable to noncontrolling interests	—			—		(3,158		)	—			(3,158		)
Comprehensive income (loss) attributable to Titan	$	18,896		$	55,894	$	24,536		$	(77,272	)	$	22,054

Condensed Financial Information, Condensed Balance Sheet [Table Text Block]



(Amounts in thousands)	Consolidating Condensed Balance Sheets June 30, 2014
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	91,778		$	5		$	71,171	$	—		$	162,954
Accounts receivable, net	—			112,903			189,601		—			302,504
Inventories	—			114,696			272,004		—			386,700
Prepaid and other current assets	35,499			28,138			58,622		—			122,259
Total current assets	127,277			255,742			591,398		—			974,417
Property, plant and equipment, net	8,085			172,248			423,684		—			604,017
Investment in subsidiaries	887,704			—			122,182		(1,009,886		)	—
Other assets	36,778			357			146,941		—			184,076
Total assets	$	1,059,844		$	428,347		$	1,284,205	$	(1,009,886	)	$	1,762,510
Liabilities and Stockholders’ Equity
Short-term debt	$	—		$	—		$	26,498	$	—		$	26,498
Accounts payable	320			15,694			184,534		—			200,548
Other current liabilities	22,860			50,198			70,489		—			143,547
Total current liabilities	23,180			65,892			281,521		—			370,593
Long-term debt	460,161			—			41,307		—			501,468
Other long-term liabilities	31,401			13,841			79,591		—			124,833
Intercompany accounts	(135,639		)	(155,584		)	291,223		—			—
Titan stockholders' equity	680,741			504,198			505,688		(1,009,886		)	680,741
Noncontrolling interests	—			—			84,875		—			84,875
Total liabilities and stockholders’ equity	$	1,059,844		$	428,347		$	1,284,205	$	(1,009,886	)	$	1,762,510



(Amounts in thousands)	Consolidating Condensed Balance Sheets December 31, 2013
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	81,472		$	4		$	107,884	$	—		$	189,360
Restricted cash	—			—			14,268		—			14,268
Accounts receivable, net	—			89,259			173,794		—			263,053
Inventories	—			129,113			255,807		—			384,920
Prepaid and other current assets	80,876			20,416			54,985		—			156,277
Total current assets	162,348			238,792			606,738		—			1,007,878
Property, plant and equipment, net	9,885			206,928			421,994		—			638,807
Investment in subsidiaries	884,222			—			141,752		(1,025,974		)	—
Other assets	34,259			387			139,900		—			174,546
Total assets	$	1,090,714		$	446,107		$	1,310,384	$	(1,025,974	)	$	1,821,231
Liabilities and Stockholders’ Equity
Short-term debt	$	—		$	—		$	75,061	$	—		$	75,061
Accounts payable	368			12,525			163,826		—			176,719
Other current liabilities	15,278			58,001			61,512		—			134,791
Total current liabilities	15,646			70,526			300,399		—			386,571
Long-term debt	460,161			—			37,533		—			497,694
Other long-term liabilities	40,658			15,571			82,701		—			138,930
Intercompany accounts	(113,474		)	(147,529		)	261,003		—			—
Titan stockholders' equity	687,723			507,539			518,435		(1,025,974		)	687,723
Noncontrolling interests	—			—			110,313		—			110,313
Total liabilities and stockholders’ equity	$	1,090,714		$	446,107		$	1,310,384	$	(1,025,974	)	$	1,821,231

Condensed Financial Information, Condensed Statement of Cash Flows [Table Text Block]



(Amounts in thousands)	Consolidating Condensed Statements of Cash Flows For the Six Months Ended June 30, 2014
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash provided by operating activities	$	11,495		$	4,430		$	27,130		$	43,055
Cash flows from investing activities:
Capital expenditures	(667		)	(4,770		)	(25,446		)	(30,883		)
Acquisition of additional interest	(49		)	—			(13,346		)	(13,395		)
Decrease in restricted cash deposits	—			—			14,268			14,268
Other, net	—			341			2,900			3,241
Net cash used for investing activities	(716		)	(4,429		)	(21,624		)	(26,769		)
Cash flows from financing activities:
Payment on debt	—			—			(53,393		)	(53,393		)
Term loan borrowing	—			—			6,217			6,217
Proceeds from exercise of stock options	141			—			—			141
Excess tax benefit from stock options exercised	(45		)	—			—			(45		)
Payment of financing fees	(33		)	—			—			(33		)
Dividends paid	(536		)	—			—			(536		)
Net cash used for financing activities	(473		)	—			(47,176		)	(47,649		)
Effect of exchange rate change on cash	—			—			4,957			4,957
Net increase (decrease) in cash and cash equivalents	10,306			1			(36,713		)	(26,406		)
Cash and cash equivalents, beginning of period	81,472			4			107,884			189,360
Cash and cash equivalents, end of period	$	91,778		$	5		$	71,171		$	162,954



(Amounts in thousands)	Consolidating Condensed Statements of Cash Flows For the Six Months Ended June 30, 2013
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash provided by (used for) operating activities	$	(100,008	)	$	15,562		$	171,056		$	86,610
Cash flows from investing activities:
Capital expenditures	(3,189		)	(15,564		)	(17,315		)	(36,068		)
Acquisitions, net of cash acquired	—			—			(1,671		)	(1,671		)
Additional equity investment in Wheels India	—			—			(8,017		)	(8,017		)
Insurance Proceeds	—			—			2,879			2,879
Other, net	—			2			177			179
Net cash used for investing activities	(3,189		)	(15,562		)	(23,947		)	(42,698		)
Cash flows from financing activities:
Proceeds from borrowings	345,313			—			—			345,313
Payment on debt	—			—			(155,082		)	(155,082		)
Term loan borrowing	—			—			25,157			25,157
Convertible note conversion	(14,090		)	—			—			(14,090		)
Proceeds from exercise of stock options	841			—			—			841
Excess tax benefit from stock options exercised	(42		)	—			—			(42		)
Payment of financing fees	(5,452		)	—			—			(5,452		)
Dividends paid	(511		)	—			—			(511		)
Net cash provided by (used for) financing activities	326,059			—			(129,925		)	196,134
Effect of exchange rate change on cash	—			—			(4,773		)	(4,773		)
Net increase in cash and cash equivalents	222,862			—			12,411			235,273
Cash and cash equivalents, beginning of period	103,154			4			85,956			189,114
Cash and cash equivalents, end of period	$	326,016		$	4		$	98,367		$	424,387