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REVOLVING CREDIT FACILITY AND LONG-TERM DEBT | 9 Months Ended
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Sep. 30, 2014
Debt Disclosure [Abstract] |
REVOLVING CREDIT FACILITY AND LONG-TERM DEBT | REVOLVING CREDIT FACILITY AND LONG-TERM DEBT Long-term debt consisted of the following (amounts in thousands):
| September 30, 2014 |  | December 31, 2013
6.875% senior secured notes due 2020 | $ | 400,000 |  |  | $ | 400,000 |
5.625% convertible senior subordinated notes due 2017 | 60,161 |  |  | 60,161 |
Titan Europe credit facilities | 36,093 |  |  | 41,687 |
Other debt | 26,777 |  |  | 67,541 |
Capital leases | 3,013 |  |  | 3,366 |
| 526,044 |  |  | 572,755 |
Less amounts due within one year | 24,768 |  |  | 75,061 |
| $ | 501,276 |  |  | $ | 497,694 |
Aggregate maturities of long-term debt at September 30, 2014, were as follows (amounts in thousands):
October 1 - December 31, 2014 | $ | 24,304 |
2015 | 14,188 |
2016 | 23,754 |
2017 | 61,048 |
2018 | 639 |
Thereafter | 402,111 |
| $ | 526,044 |
6.875% senior secured notes due 2020 The Company’s 6.875% senior secured notes (senior secured notes due 2020) are due October 2020. 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. The Company's senior secured notes due 2020 outstanding balance was $400.0 million at September 30, 2014. 5.625% convertible senior subordinated notes due 2017 The Company’s 5.625% convertible senior subordinated notes (convertible notes) are due January 2017. The initial base conversion rate for the convertible notes is 93.0016 shares of Titan common stock per $1,000 principal amount of convertible notes, equivalent to an initial base conversion price of approximately $10.75 per share of Titan common stock. If the price of Titan common stock at the time of determination exceeds the base conversion price, the base conversion rate will be increased by an additional number of shares (up to 9.3002 shares of Titan common stock per $1,000 principal amount of convertible notes) as determined pursuant to a formula described in the indenture. The base conversion rate will be subject to adjustment in certain events. The Company’s convertible notes balance was $60.2 million at September 30, 2014. Titan Europe credit facilities The Titan Europe credit facilities contain borrowings from various institutions totaling $36.1 million at September 30, 2014. Maturity dates on this debt range from less than one year to ten years and interest rates range from 5% to 6.9%. The European facilities are secured by the assets of select European subsidiaries. Revolving credit facility The Company’s $150 million revolving credit facility (credit facility) with agent Bank of America, N.A. has a December 2017 termination date and is collateralized by the accounts receivable and inventory of certain Titan domestic subsidiaries. During the first nine months of 2014 and at September 30, 2014, there were no borrowings under the credit facility. Other debt Brazil Other Debt Titan Brazil has working capital loans for the Sao Paulo, Brazil manufacturing facility totaling $18.8 million at September 30, 2014. Titan Europe Other Debt Titan Europe has overdraft facilities totaling $8.0 million at September 30, 2014. Titan Europe Capital Leases Titan Europe has capital lease obligations totaling $1.6 million at September 30, 2014. Australia Capital Leases Titan National Australia Holdings has capital leases totaling $1.4 million at September 30, 2014.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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