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RESTATEMENT (Notes) | 12 Months Ended
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Dec. 31, 2014
RESTATEMENT [Abstract] |
Accounting Changes and Error Corrections [Text Block] | RESTATEMENT In November 2015, the Company identified errors in the accounting for the shareholders' agreement and related redeemable noncontrolling interest in the Company’s investment in Voltyre-Prom. The Company's Russian shareholders' agreement contains a settlement put option which may require Titan to purchase the shares of the minority shareholders at a value set by the agreement. The Company did not correctly classify redeemable noncontrolling interest on the balance sheet as mezzanine equity, which is presented below liabilities and above equity. As the redeemable noncontrolling interest balance exceeds the carrying value of the investment, there is a reclassification of additional paid-in capital to mezzanine equity and a correction in the earnings per share calculation. Accordingly, the Company is restating its earnings per share for the year ended December 31, 2014, and its consolidated balance sheet and consolidated statement of changes in equity as of December 31, 2014 and 2013. The corrections had no other effect on the Consolidated Statement of Operations. The following table summarizes the restatement adjustments of the Company’s earnings per share for the year ended December 31, 2014:
| Year ended December 31, 2014
| As reported |  | Adjustment |  | As restated
Loss per common share: |  |  |  |  |
Basic | $ | (1.50 | ) |  | $ | (0.93 | ) |  | $ | (2.43 | )
Diluted | $ | (1.50 | ) |  | $ | (0.93 | ) |  | $ | (2.43 | )
The following table (unaudited) summarizes the restatement adjustments of the Company’s earnings per share for the quarters in the year ended December 31, 2014:
| Quarter ended |  | Year ended
| March 31 |  | June 30 |  | September 30 |  | December 31 |  | December 31
| Unaudited |  | Unaudited |  | Unaudited |  | Unaudited |  |
Basic income (loss) per common share - as reported | $ | 0.04 |  |  | $ | (0.38 | ) |  | $ | (0.17 | ) |  | $ | (0.99 | ) |  | $ | (1.50 | )
Basic income (loss) per common share - as restated | $ | 0.02 |  |  | $ | (0.40 | ) |  | $ | (0.47 | ) |  | $ | (1.58 | ) |  | $ | (2.43 | )
Adjustment | $ | (0.02 | ) |  | $ | (0.02 | ) |  | $ | (0.30 | ) |  | $ | (0.59 | ) |  | $ | (0.93 | )
Diluted income (loss) per common share - as reported | $ | 0.04 |  |  | $ | (0.38 | ) |  | $ | (0.17 | ) |  | $ | (0.99 | ) |  | $ | (1.50 | )
Diluted income (loss) per common share - as restated | $ | 0.02 |  |  | $ | (0.40 | ) |  | $ | (0.47 | ) |  | $ | (1.58 | ) |  | $ | (2.43 | )
Adjustment | $ | (0.02 | ) |  | $ | (0.02 | ) |  | $ | (0.30 | ) |  | $ | (0.59 | ) |  | $ | (0.93 | )
The following table summarizes the restatement adjustments on the Company’s Consolidated Balance Sheet as of December 31, 2014 (amounts in thousands):
| Consolidated Balance Sheet
| December 31, 2014
| As reported |  | Adjustment |  | As restated
Assets |  |  |  |  |
Current Assets |  |  |  |  |
Cash and cash equivalents | $ | 201,451 |  |  | $ | — |  |  | $ | 201,451 |
Accounts receivable | 199,378 |  |  | — |  |  | 199,378 |
Inventories | 331,432 |  |  | — |  |  | 331,432 |
Deferred income taxes | 23,435 |  |  | — |  |  | 23,435 |
Prepaid and other current assets | 80,234 |  |  | — |  |  | 80,234 |
Total current assets | 835,930 |  |  | — |  |  | 835,930 |
Property, plant and equipment, net | 527,414 |  |  | — |  |  | 527,414 |
Deferred income taxes | 15,623 |  |  | — |  |  | 15,623 |
Other assets | 116,757 |  |  | — |  |  | 116,757 |
Total assets | $ | 1,495,724 |  |  | $ | — |  |  | $ | 1,495,724 |
Liabilities |  |  |  |  |
Current Liabilities |  |  |  |  |
Short-term debt | $ | 26,233 |  |  | $ | — |  |  | $ | 26,233 |
Accounts payable | 146,305 |  |  | — |  |  | 146,305 |
Other current liabilities | 129,018 |  |  | — |  |  | 129,018 |
Total current liabilities | 301,556 |  |  | — |  |  | 301,556 |
Long-term debt | 496,503 |  |  | — |  |  | 496,503 |
Deferred income taxes | 18,582 |  |  | — |  |  | 18,582 |
Other long-term liabilities | 89,025 |  |  | — |  |  | 89,025 |
Total liabilities | 905,666 |  |  | — |  |  | 905,666 |
Redeemable noncontrolling interest | — |  |  | 71,192 |  |  | 71,192 |
Equity |  |  |  |  |
Titan stockholders' equity |  |  |  |  |
Common stock | — |  |  | — |  |  | — |
Additional paid-in capital | 562,367 |  |  | (49,277 | ) |  | 513,090 |
Retained earnings | 126,007 |  |  | — |  |  | 126,007 |
Treasury stock | (13,897 | ) |  | — |  |  | (13,897 | )
Treasury stock reserved for deferred comp | (1,075 | ) |  | — |  |  | (1,075 | )
Accumulated other comprehensive loss | (112,630 | ) |  | — |  |  | (112,630 | )
Total Titan stockholders' equity | 560,772 |  |  | (49,277 | ) |  | 511,495 |
Noncontrolling interests | 29,286 |  |  | (21,915 | ) |  | 7,371 |
Total equity | 590,058 |  |  | (71,192 | ) |  | 518,866 |
Total liabilities and equity | $ | 1,495,724 |  |  | $ | — |  |  | $ | 1,495,724 |
The following table summarizes the restatement adjustments on the Company’s Consolidated Balance Sheet as of December 31, 2013 (amounts in thousands):
| Consolidated Balance Sheet
| December 31, 2013
| As reported |  | Adjustment |  | As restated
Assets |  |  |  |  |
Current Assets |  |  |  |  |
Cash and cash equivalents | $ | 189,360 |  |  | $ | — |  |  | $ | 189,360 |
Restricted cash | 14,268 |  |  | — |  |  | 14,268 |
Accounts receivable | 263,053 |  |  | — |  |  | 263,053 |
Inventories | 384,920 |  |  | — |  |  | 384,920 |
Deferred income taxes | 41,931 |  |  | — |  |  | 41,931 |
Prepaid and other current assets | 114,346 |  |  | — |  |  | 114,346 |
Total current assets | 1,007,878 |  |  | — |  |  | 1,007,878 |
Property, plant and equipment, net | 638,807 |  |  | — |  |  | 638,807 |
Goodwill | 42,075 |  |  | — |  |  | 42,075 |
Deferred income taxes | 2,772 |  |  | — |  |  | 2,772 |
Other assets | 129,699 |  |  | — |  |  | 129,699 |
Total assets | $ | 1,821,231 |  |  | $ | — |  |  | $ | 1,821,231 |
Liabilities |  |  |  |  |
Current Liabilities |  |  |  |  |
Short-term debt | $ | 75,061 |  |  | $ | — |  |  | $ | 75,061 |
Accounts payable | 176,719 |  |  | — |  |  | 176,719 |
Other current liabilities | 134,791 |  |  | — |  |  | 134,791 |
Total current liabilities | 386,571 |  |  | — |  |  | 386,571 |
Long-term debt | 497,694 |  |  | — |  |  | 497,694 |
Deferred income taxes | 60,985 |  |  | — |  |  | 60,985 |
Other long-term liabilities | 77,945 |  |  | — |  |  | 77,945 |
Total liabilities | 1,023,195 |  |  | — |  |  | 1,023,195 |
Redeemable noncontrolling interest | — |  |  | 89,155 |  |  | 89,155 |
Equity |  |  |  |  |
Titan stockholders' equity |  |  |  |  |
Common stock | — |  |  | — |  |  | — |
Additional paid-in capital | 558,637 |  |  | — |  |  | 558,637 |
Retained earnings | 207,541 |  |  | — |  |  | 207,541 |
Treasury stock | (15,586 | ) |  | — |  |  | (15,586 | )
Treasury stock reserved for deferred comp | (1,075 | ) |  | — |  |  | (1,075 | )
Accumulated other comprehensive loss | (61,794 | ) |  | — |  |  | (61,794 | )
Total Titan stockholders' equity | 687,723 |  |  | — |  |  | 687,723 |
Noncontrolling interests | 110,313 |  |  | (89,155 | ) |  | 21,158 |
Total equity | 798,036 |  |  | (89,155 | ) |  | 708,881 |
Total liabilities and equity | $ | 1,821,231 |  |  | $ | — |  |  | $ | 1,821,231 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Earnings per share for 2014, 2013 and 2012, are (amounts in thousands, except per share data):
| 2014 (As restated) |  | 2013 |  | 2012
Net income (loss) attributable to Titan | $ | (80,461 | ) |  | $ | 35,205 |  |  | $ | 107,231 |
Redemption value adjustment | (49,277 | ) |  | — |  |  | — |
Net income (loss) applicable to common shareholders | (129,738 | ) |  | 35,205 |  |  | 107,231 |
Effect of convertible notes | — |  |  | 2,600 |  |  | 4,572 |
Net income (loss) applicable to common shareholders and assumed conversions | $ | (129,738 | ) |  | $ | 37,805 |  |  | $ | 111,803 |
Determination of Shares: |  |  |  |  |
Weighted average shares outstanding (basic) | 53,497 |  |  | 53,039 |  |  | 43,380 |
Effect of stock options/trusts | — |  |  | 258 |  |  | 254 |
Effect of convertible notes | — |  |  | 6,225 |  |  | 11,028 |
Weighted average shares outstanding (diluted) | 53,497 |  |  | 59,522 |  |  | 54,662 |
Earnings per share: |  |  |  |  |
Basic | $ | (2.43 | ) |  | $ | 0.66 |  |  | $ | 2.47 |
Diluted | $ | (2.43 | ) |  | $ | 0.64 |  |  | $ | 2.05 |
The effect of stock options/trusts has been excluded for 2014, as the effect would have been antidilutive. The weighted average share amount excluded was 0.2 million. The effect of convertible notes has been excluded for 2014, as the effect would have been antidilutive. The weighted average share amount excluded was 5.6 million shares.
| Year ended December 31, 2014
| As reported |  | Adjustment |  | As restated
Loss per common share: |  |  |  |  |
Basic | $ | (1.50 | ) |  | $ | (0.93 | ) |  | $ | (2.43 | )
Diluted | $ | (1.50 | ) |  | $ | (0.93 | ) |  | $ | (2.43 | )
The following table (unaudited) summarizes the restatement adjustments of the Company’s earnings per share for the quarters in the year ended December 31, 2014:
| Quarter ended |  | Year ended
| March 31 |  | June 30 |  | September 30 |  | December 31 |  | December 31
| Unaudited |  | Unaudited |  | Unaudited |  | Unaudited |  |
Basic income (loss) per common share - as reported | $ | 0.04 |  |  | $ | (0.38 | ) |  | $ | (0.17 | ) |  | $ | (0.99 | ) |  | $ | (1.50 | )
Basic income (loss) per common share - as restated | $ | 0.02 |  |  | $ | (0.40 | ) |  | $ | (0.47 | ) |  | $ | (1.58 | ) |  | $ | (2.43 | )
Adjustment | $ | (0.02 | ) |  | $ | (0.02 | ) |  | $ | (0.30 | ) |  | $ | (0.59 | ) |  | $ | (0.93 | )
Diluted income (loss) per common share - as reported | $ | 0.04 |  |  | $ | (0.38 | ) |  | $ | (0.17 | ) |  | $ | (0.99 | ) |  | $ | (1.50 | )
Diluted income (loss) per common share - as restated | $ | 0.02 |  |  | $ | (0.40 | ) |  | $ | (0.47 | ) |  | $ | (1.58 | ) |  | $ | (2.43 | )
Adjustment | $ | (0.02 | ) |  | $ | (0.02 | ) |  | $ | (0.30 | ) |  | $ | (0.59 | ) |  | $ | (0.93 | )

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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22644-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 45 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=6368906&loc=d3e21914-107793 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22595-107794 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22499-107794 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 1.N.Q3) -URI http://asc.fasb.org/extlink&oid=26874127&loc=d3e30840-122693 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 1 -Section N + Details
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