XML 63 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:      
Net Income (loss) $ (130,425)us-gaap_ProfitLoss $ 29,687us-gaap_ProfitLoss $ 105,638us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 88,704us-gaap_DepreciationDepletionAndAmortization 80,622us-gaap_DepreciationDepletionAndAmortization 54,095us-gaap_DepreciationDepletionAndAmortization
Amortization of debt premium 0us-gaap_AmortizationOfDebtDiscountPremium (2,369)us-gaap_AmortizationOfDebtDiscountPremium 0us-gaap_AmortizationOfDebtDiscountPremium
Mining asset impairment 23,242us-gaap_AssetImpairmentCharges 0us-gaap_AssetImpairmentCharges 0us-gaap_AssetImpairmentCharges
Mining inventory writedown 16,690us-gaap_InventoryWriteDown 0us-gaap_InventoryWriteDown 0us-gaap_InventoryWriteDown
Deferred income tax provision (24,800)us-gaap_DeferredIncomeTaxExpenseBenefit (4,004)us-gaap_DeferredIncomeTaxExpenseBenefit 17,170us-gaap_DeferredIncomeTaxExpenseBenefit
Convertible debt conversion charge 0us-gaap_InducedConversionOfConvertibleDebtExpense 7,273us-gaap_InducedConversionOfConvertibleDebtExpense 0us-gaap_InducedConversionOfConvertibleDebtExpense
Loss on note repurchase 0us-gaap_GainsLossesOnExtinguishmentOfDebt 22,734us-gaap_GainsLossesOnExtinguishmentOfDebt 0us-gaap_GainsLossesOnExtinguishmentOfDebt
Gain on earthquake insurance recovery 0us-gaap_GainOnBusinessInterruptionInsuranceRecovery (22,451)us-gaap_GainOnBusinessInterruptionInsuranceRecovery 0us-gaap_GainOnBusinessInterruptionInsuranceRecovery
Noncash Titan Europe gain 0us-gaap_AvailableForSaleSecuritiesGrossRealizedGains 0us-gaap_AvailableForSaleSecuritiesGrossRealizedGains 26,700us-gaap_AvailableForSaleSecuritiesGrossRealizedGains
Supply agreement termination income 0us-gaap_GainLossOnContractTermination 0us-gaap_GainLossOnContractTermination (26,134)us-gaap_GainLossOnContractTermination
Noncash goodwill impairment charge 36,571us-gaap_GoodwillImpairmentLoss 0us-gaap_GoodwillImpairmentLoss 0us-gaap_GoodwillImpairmentLoss
Stock-based compensation 5,360us-gaap_ShareBasedCompensation 4,815us-gaap_ShareBasedCompensation 4,087us-gaap_ShareBasedCompensation
Excess tax benefit from stock-based compensation 672us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities 68us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (184)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Insurance proceeds 0us-gaap_ProceedsFromInsuranceSettlementOperatingActivities 35,808us-gaap_ProceedsFromInsuranceSettlementOperatingActivities 0us-gaap_ProceedsFromInsuranceSettlementOperatingActivities
Issuance of treasury stock under 401(k) plan 639us-gaap_PensionExpense 646us-gaap_PensionExpense 588us-gaap_PensionExpense
Gain on acquisition 0us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount 0us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount 11,678us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount
(Increase) decrease in assets:      
Accounts receivable 54,686us-gaap_IncreaseDecreaseInAccountsReceivable 26,417us-gaap_IncreaseDecreaseInAccountsReceivable 35,839us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories 20,933us-gaap_IncreaseDecreaseInInventories (30,280)us-gaap_IncreaseDecreaseInInventories 23,917us-gaap_IncreaseDecreaseInInventories
Prepaid and other current assets 30,324us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (39,825)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (25,229)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Other assets (1,145)us-gaap_IncreaseDecreaseInOtherOperatingAssets 1,960us-gaap_IncreaseDecreaseInOtherOperatingAssets 6,987us-gaap_IncreaseDecreaseInOtherOperatingAssets
Increase (decrease) in liabilities:      
Accounts payable (23,777)us-gaap_IncreaseDecreaseInAccountsPayable 9,479us-gaap_IncreaseDecreaseInAccountsPayable (44,542)us-gaap_IncreaseDecreaseInAccountsPayable
Other current liabilities (2,089)us-gaap_IncreaseDecreaseInOtherCurrentLiabilities (556)us-gaap_IncreaseDecreaseInOtherCurrentLiabilities 7,839us-gaap_IncreaseDecreaseInOtherCurrentLiabilities
Other liabilities 18,487us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities (3,375)us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities 8,475us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities
Net cash provided by operating activities 114,072us-gaap_NetCashProvidedByUsedInOperatingActivities 116,649us-gaap_NetCashProvidedByUsedInOperatingActivities 130,168us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:      
Capital expenditures (58,439)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (80,131)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (65,740)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Acquisitions, net of cash acquired (13,395)us-gaap_PaymentsToAcquireBusinessesGross (95,681)us-gaap_PaymentsToAcquireBusinessesGross 780us-gaap_PaymentsToAcquireBusinessesGross
Additional equity investment in Wheels India 0us-gaap_PaymentsToAcquireEquityMethodInvestments (8,017)us-gaap_PaymentsToAcquireEquityMethodInvestments 0us-gaap_PaymentsToAcquireEquityMethodInvestments
Increase (Decrease) in Restricted Cash 14,268us-gaap_IncreaseDecreaseInRestrictedCash (14,473)us-gaap_IncreaseDecreaseInRestrictedCash 0us-gaap_IncreaseDecreaseInRestrictedCash
Insurance proceeds 0us-gaap_ProceedsFromInsuranceSettlementInvestingActivities 2,879us-gaap_ProceedsFromInsuranceSettlementInvestingActivities 0us-gaap_ProceedsFromInsuranceSettlementInvestingActivities
Other 5,044us-gaap_PaymentsForProceedsFromOtherInvestingActivities 2,344us-gaap_PaymentsForProceedsFromOtherInvestingActivities 1,066us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash used for investing activities (52,522)us-gaap_NetCashProvidedByUsedInInvestingActivities (193,079)us-gaap_NetCashProvidedByUsedInInvestingActivities (63,894)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:      
Proceeds from borrowings 15,708us-gaap_ProceedsFromIssuanceOfLongTermDebt 788,704us-gaap_ProceedsFromIssuanceOfLongTermDebt 17,171us-gaap_ProceedsFromIssuanceOfLongTermDebt
Repurchase of senior notes 0us-gaap_EarlyRepaymentOfSeniorDebt (558,360)us-gaap_EarlyRepaymentOfSeniorDebt 0us-gaap_EarlyRepaymentOfSeniorDebt
Payment on debt (60,345)us-gaap_RepaymentsOfOtherDebt (200,721)us-gaap_RepaymentsOfOtherDebt (20,811)us-gaap_RepaymentsOfOtherDebt
Convertible note conversion 0us-gaap_DebtConversionConvertedInstrumentAmount1 (14,090)us-gaap_DebtConversionConvertedInstrumentAmount1 0us-gaap_DebtConversionConvertedInstrumentAmount1
Capital contribution from noncontrolling interest 0us-gaap_ProceedsFromMinorityShareholders 79,592us-gaap_ProceedsFromMinorityShareholders 0us-gaap_ProceedsFromMinorityShareholders
Proceeds from exercise of stock options 141us-gaap_ProceedsFromStockOptionsExercised 1,001us-gaap_ProceedsFromStockOptionsExercised 934us-gaap_ProceedsFromStockOptionsExercised
Excess of tax benefit from stock-based compensation (672)us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities (68)us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 184us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Payment of financing fees (33)us-gaap_PaymentsOfFinancingCosts (12,332)us-gaap_PaymentsOfFinancingCosts (1,275)us-gaap_PaymentsOfFinancingCosts
Dividends paid (1,073)us-gaap_PaymentsOfDividendsCommonStock (1,046)us-gaap_PaymentsOfDividendsCommonStock (845)us-gaap_PaymentsOfDividendsCommonStock
Net cash provided by (used for) financing activities (46,274)us-gaap_NetCashProvidedByUsedInFinancingActivities 82,680us-gaap_NetCashProvidedByUsedInFinancingActivities (4,642)us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rate changes on cash (3,185)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (6,004)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (1,688)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase (decrease) in cash and cash equivalents 12,091us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 246us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 59,944us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 189,360us-gaap_CashAndCashEquivalentsAtCarryingValue 189,114us-gaap_CashAndCashEquivalentsAtCarryingValue 129,170us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 201,451us-gaap_CashAndCashEquivalentsAtCarryingValue 189,360us-gaap_CashAndCashEquivalentsAtCarryingValue 189,114us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental Cash Flow Information [Abstract]      
Interest paid 34,014us-gaap_InterestPaid 41,875us-gaap_InterestPaid 27,192us-gaap_InterestPaid
Income taxes paid, net of refunds received (25,588)us-gaap_IncomeTaxesPaid 59,360us-gaap_IncomeTaxesPaid 86,587us-gaap_IncomeTaxesPaid
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]      
Issuance of common stock for Titan Europe acquisition (13,395)us-gaap_StockIssuedDuringPeriodValueAcquisitions 14,710us-gaap_StockIssuedDuringPeriodValueAcquisitions 148,154us-gaap_StockIssuedDuringPeriodValueAcquisitions
Issuance of common stock for convertible debt payment 0us-gaap_StockholdersEquityOther 45,903us-gaap_StockholdersEquityOther 0us-gaap_StockholdersEquityOther
Titan Europe [Member]      
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]      
Issuance of common stock for Titan Europe acquisition $ 0us-gaap_StockIssuedDuringPeriodValueAcquisitions
/ dei_LegalEntityAxis
= twi_TitanEuropeMember		 $ 0us-gaap_StockIssuedDuringPeriodValueAcquisitions
/ dei_LegalEntityAxis
= twi_TitanEuropeMember		 $ 121,813us-gaap_StockIssuedDuringPeriodValueAcquisitions
/ dei_LegalEntityAxis
= twi_TitanEuropeMember