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NONCASH TITAN EUROPE PLC GAIN
 12 Months Ended
Dec. 31, 2014
NONCASH TITAN EUROPE PLC GAIN [Abstract]  
Other Income and Other Expense Disclosure [Text Block]
24. NONCASH TITAN EUROPE GAIN

Noncash Titan Europe gain consisted of the following (amounts in thousands):
 
2014
 
2013
 
2012
Noncash Titan Europe gain
$
—

 
$
—

 
$
26,700


In the fourth quarter of 2012, the Company acquired Titan Europe. Prior to the acquisition, Titan held a 21.8% ownership percentage in Titan Europe, which had a fair value on the acquisition date of $31.7 million. As a result of recording the fair value of the investment on the acquisition date, a gain of $26.7 million was recorded on Titan's previously held interest in Titan Europe. This gain was previously recorded in other comprehensive income (loss).
OTHER INCOME (EXPENSE)

Other income (expense) consisted of the following (amounts in thousands):
 
2014
 
2013
 
2012
Gain (loss) on sale of assets
$
3,438

 
$
(173
)
 
$
(707
)
Interest income
3,038

 
3,396

 
859

Discount amortization on prepaid royalty
2,712

 
3,296

 
3,736

Wheels India Limited equity income
2,108

 
1,430

 
401

Investment gain related to contractual obligation investments
1,116

 
1,315

 
1,022

Building rental income
903

 
846

 
710

Other income
343

 
1,825

 
802

Currency exchange loss
(31,713
)
 
(4,920
)
 
—

 
$
(18,055
)
 
$
7,015

 
$
6,823