XML 138 R38.htm IDEA: XBRL DOCUMENT
v3.3.0.814

STOCK COMPENSATION | 12 Months Ended
--- | ---
Dec. 31, 2014
STOCK OPTION PLANS [Abstract] |
STOCK OPTION PLANS | STOCK COMPENSATION The Company accounts for stock compensation using ASC 718 Compensation – Stock Compensation. The Company recorded stock compensation of $5.4 million, $4.8 million and $4.1 million in 2014, 2013 and 2012, respectively. Options to the Board of Directors vest immediately and options to employees vest over three years. All options expire 10 years from the grant date. The restricted stock awards vest over four years. 2005 Equity Incentive Plan The Company adopted the 2005 Equity Incentive Plan to provide stock compensation as a means of attracting and retaining qualified independent directors and employees for the Company. A total of 1.7 million shares are available for future issuance under the equity incentive plan. The exercise price of stock options may not be less than the fair market value of the common stock on the date of the grant. The vesting and term of each option is set by the Board of Directors. The Company granted 59,000 stock options under this plan in 2014, 60,000 stock options under this plan in 2013, and 45,000 stock options under this plan in 2012. The Company granted 10,000 restricted stock awards under this plan in 2014, 225,750 restricted stock awards under this plan in 2013, and 293,000 restricted stock awards under this plan in 2012. Stock Options The following is a summary of activity in stock options for 2014:
| Shares Subject to Option |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Life (in Years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2013 | 1,154,069 |  |  | $ | 18.18 |  |  |  |  |
Granted | 59,000 |  |  | 16.37 |  |  |  |  |
Exercised | (8,971 | ) |  | 15.75 |  |  |  |  |
Forfeited/Expired | (26,025 | ) |  | 18.93 |  |  |  |  |
Outstanding, December 31, 2014 | 1,178,073 |  |  | 18.09 |  |  | 5.03 |  | $ | — |
Exercisable, December 31, 2014 | 1,178,073 |  |  | 18.09 |  |  | 5.03 |  | $ | — |
The total intrinsic value of options exercised in 2014 was $0.0 million. Cash received from the exercise of stock options was $0.1 million for 2014. Tax benefit realized for the tax deductions from stock options exercised was $0.0 million for 2014. The weighted-average per share estimated grant date fair value of options issued in 2014 was $9.97. The Company has no pre-tax unrecognized compensation expense for stock options at December 31, 2014. The total intrinsic value of options exercised in 2013 was $0.4 million. Cash received from the exercise of stock options was $1.0 million for 2013. Tax benefit realized for the tax deductions from stock options exercised was $0.2 million in 2013. The weighted-average per share estimated grant date fair value of options issued in 2013 was $14.51. The total intrinsic value of options exercised in 2012 was $1.0 million. Cash received from the exercise of stock options was $0.9 million for 2012. Tax benefit realized for the tax deductions from stock options exercised was $0.4 million in 2012. The weighted-average per share estimated grant date fair value of options issued in 2012 was $13.39. The Company currently uses treasury shares to satisfy any stock option exercises. At December 31, 2014, the Company had 1.5 million shares of treasury stock. Valuation Assumptions The Company uses the Black-Scholes option pricing model to determine the fair value of its stock options. The determination of the fair value of stock option awards on the date of grant using option pricing models is affected by the Company’s stock price, as well as assumptions regarding a number of complex and subjective variables. These variables include the Company’s expected stock price volatility over the expected term of the awards, actual and projected stock option exercise behaviors, risk-free interest rates and expected dividends. The expected term of options represents the period of time over which options are expected to be outstanding and is estimated based on historical experience. Expected volatility is based on the historical volatility of the Company’s common stock calculated over the expected term of the option. The risk-free interest rate is based on U.S. Treasury yields in effect at the date of grant. Weighted average assumptions used for stock options issued in 2014, 2013 and 2012:
| 2014 |  | 2013 |  | 2012
Expected life (in years) | 6.0 |  |  | 6.0 |  |  | 6.0 |
Expected volatility | 67.8 | % |  | 68.4 | % |  | 67.0 | %
Expected dividends | 0.1 | % |  | 0.1 | % |  | 0.1 | %
Risk-free interest rate | 1.80 | % |  | 1.01 | % |  | 0.93 | %
Restricted Stock
| Shares | Weighted Average Grant Date Fair Value
Unvested at December 31, 2013 | 518,000 |  | 19.6 |
Granted | 10,000 |  | 16.76 |
Vested | (139,250 | ) | 20.83 |
Forfeited/Expired | (46,250 | ) | 19.46 |
Unvested at December 31, 2014 | 342,500 |  | 19.04 |
Pre-tax unrecognized compensation expense for unvested restricted stock was $4.7 million at December 31, 2014, and will be recognized as an expense over a weighted-average period of 2.6 years.

X
- Definition STOCK OPTION PLANS [Abstract] + References No definition available. + Details
Name: | twi_StockOptionPlansAbstract
Namespace Prefix: | twi_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration