XML 23 R71.htm IDEA: XBRL DOCUMENT v3.3.0.814
SUBSIDIARY GUARANTOR FINANCIAL INFORMATION (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Dec. 31, 2014
Dec. 31, 2013
Income Statement [Abstract]            
Net sales $ 308,836 $ 449,579 $ 1,086,962 $ 1,512,250    
Cost of Goods Sold 282,683 405,940 966,962 1,361,064    
Gross profit (loss) 26,153 43,639 120,000 116,389    
Selling, General and Administrative Expense 35,512 39,231 109,034 125,942    
Research and Development Expense 2,982 3,247 8,847 10,918    
Royalty Expense 2,121 3,675 8,241 11,246    
Operating Income (Loss) (14,462) (2,514) (6,122) (31,717)    
Interest expense (8,289) (8,951) (25,687) (27,136)    
Interest Expense, Related Party 0 0 0 0    
Foreign Currency Transaction Gain (Loss), before Tax (15,333) (13,266) (5,720) (11,299)    
Other income (expense) (755) (2,587) (6,331) (7,471)    
Income (loss) before income taxes (37,329) (22,144) (31,198) (62,681)    
Income Tax Expense (Benefit) 283 (5,127) 3,194 (15,645)    
Income (Loss) from Equity Method Investments 0 0 0 0    
Net income (loss) (37,612) (17,017) (34,392) (47,036)    
Net loss attributable to noncontrolling interests (6,136) (7,950) (9,919) (19,621)    
Net income (loss) attributable to Titan (31,476) (9,067) (24,473) (27,415)    
Comprehensive Income Statement [Abstract]            
Net income (loss) (37,612) (17,017) (34,392) (47,036)    
Currency translation adjustment, net (28,444) (40,174) (69,394) (31,960)    
Pension liability adjustments, net of tax 472 42 1,969 787    
Comprehensive Income (Loss) (65,584) (57,149) (101,817) (78,209)    
Net comprehensive (loss), attributable to noncontrolling interests (8,233) (17,002) (13,150) (30,247)    
Comprehensive income (loss) attributable to Titan (57,351) (40,147) (88,667) (47,962)    
Statement of Financial Position [Abstract]            
Cash and Cash Equivalents, at Carrying Value 193,812 180,271 193,812 180,271 $ 201,451 $ 189,360
Accounts Receivable, Net, Current 183,755   183,755   199,378  
Inventory, Net 287,135   287,135   331,432  
Prepaid Expense, Deffered Income Taxes and Other Assets, Current 86,002   86,002   103,669  
Assets, Current 750,704   750,704   835,930  
Property, Plant and Equipment, Net 459,350   459,350   527,414  
Equity Method Investments 0   0   0  
Other Assets, Goodwill, Deferred Income Tax Asset, Noncurrent 126,698   126,698   132,380  
Assets 1,336,752   1,336,752   1,495,724  
Short-term debt 21,038   21,038   26,233  
Accounts Payable, Current 127,998   127,998   146,305  
Deferred Income Taxes and Other Liabilities, Current 122,966   122,966   129,018  
Liabilities, Current 272,002   272,002   301,556  
Long-term debt 492,442   492,442   496,503  
Liabilities, Other than Long-term Debt, Noncurrent 83,321   83,321   107,607  
Due to Related Parties 0   0   0  
Redeemable Noncontrolling Interest, Equity, Carrying Amount 75,615 69,786 75,615 69,786 71,192 89,155
Stockholders' Equity Attributable to Parent 412,241   412,241   511,495  
Stockholders' Equity Attributable to Noncontrolling Interest 1,131   1,131   7,371  
Liabilities and Equity 1,336,752   1,336,752   1,495,724  
Statement of Cash Flows [Abstract]            
Net cash provided by operating activities     30,536 77,347    
Capital expenditures     (35,213) (46,329)    
Acquisitions, net of cash acquired     0 13,395    
Decrease in restricted cash deposits     0 14,268    
Additional equity investment in Wheels India       14,268    
Payments for (Proceeds from) Other Investing Activities     4,317 4,610    
Net cash used for investing activities     (30,896) (40,846)    
Proceeds from borrowings     14,566 14,914    
Repayments of Other Debt     (11,382) (60,359)    
Proceeds from Other Debt       14,914    
Proceeds from Stock Options Exercised     144 141    
Excess Tax Benefit from Share-based Compensation, Financing Activities     (758) (51)    
Payment of financing fees     0 (33)    
Payments of Dividends, Common Stock     (807) (804)    
Net cash provided by (used for) financing activities     1,763 (46,192)    
Effect of Exchange Rate on Cash and Cash Equivalents     (9,042) 602    
Cash and Cash Equivalents, Period Increase (Decrease)     (7,639) (9,089)    
Cash and Cash Equivalents, at Carrying Value 193,812 180,271 193,812 180,271 201,451 189,360
Parent [Member]            
Income Statement [Abstract]            
Net sales 0 0 0      
Cost of Goods Sold 196 206 634      
Gross profit (loss) (196) (206) (634)      
Selling, General and Administrative Expense 2,118 2,032 7,369      
Research and Development Expense 0 0 0      
Royalty Expense 0 0 0      
Operating Income (Loss) (2,314) (2,238) (8,003)      
Interest expense (8,041) (8,128) (24,250)      
Interest Expense, Related Party 214 1,661 604      
Foreign Currency Transaction Gain (Loss), before Tax 182 (22) 3,272 (8)    
Other income (expense) 410 (832) (1,504)      
Income (loss) before income taxes (10,369) (7,895) (26,873)      
Income Tax Expense (Benefit) 3,429 (5,050) 31      
Income (Loss) from Equity Method Investments (23,814) (14,172) (7,488)      
Net income (loss) (37,612) (17,017) (34,392)      
Net loss attributable to noncontrolling interests 0 0 0      
Net income (loss) attributable to Titan (37,612) (17,017) (34,392)      
Comprehensive Income Statement [Abstract]            
Net income (loss) (37,612) (17,017) (34,392)      
Currency translation adjustment, net (28,444) (40,174)        
Pension liability adjustments, net of tax 472 42        
Comprehensive Income (Loss) (65,584) (57,149)        
Net comprehensive (loss), attributable to noncontrolling interests 0 0        
Comprehensive income (loss) attributable to Titan (65,584) (57,149)        
Statement of Financial Position [Abstract]            
Cash and Cash Equivalents, at Carrying Value 137,024 107,923 137,024 107,923 129,985 81,472
Accounts Receivable, Net, Current 0   0   (55)  
Inventory, Net 0   0   0  
Prepaid Expense, Deffered Income Taxes and Other Assets, Current 13,437   13,437   26,803  
Assets, Current 150,461   150,461   156,733  
Property, Plant and Equipment, Net 7,755   7,755   7,590  
Equity Method Investments 745,714   745,714   745,084  
Other Assets, Goodwill, Deferred Income Tax Asset, Noncurrent 52,766   52,766   51,381  
Assets 956,696   956,696   960,788  
Short-term debt 0   0   0  
Accounts Payable, Current 1,634   1,634   1,795  
Deferred Income Taxes and Other Liabilities, Current 37,698   37,698   28,519  
Liabilities, Current 39,332   39,332   30,314  
Long-term debt 460,161   460,161   460,161  
Liabilities, Other than Long-term Debt, Noncurrent 9,569   9,569   15,244  
Due to Related Parties 35,393   35,393   (56,426)  
Redeemable Noncontrolling Interest, Equity, Carrying Amount 0   0   0  
Stockholders' Equity Attributable to Parent 412,241   412,241   511,495  
Stockholders' Equity Attributable to Noncontrolling Interest 0   0   0  
Liabilities and Equity 956,696   956,696   960,788  
Statement of Cash Flows [Abstract]            
Net cash provided by operating activities     9,581 28,013    
Capital expenditures     (1,121) (766)    
Acquisitions, net of cash acquired       49    
Additional equity investment in Wheels India       0    
Payments for (Proceeds from) Other Investing Activities     0 0    
Net cash used for investing activities     (1,121) (815)    
Proceeds from borrowings     0      
Repayments of Other Debt     0 0    
Proceeds from Other Debt       0    
Proceeds from Stock Options Exercised     144 141    
Excess Tax Benefit from Share-based Compensation, Financing Activities     (758) (51)    
Payment of financing fees       (33)    
Payments of Dividends, Common Stock     (807) (804)    
Net cash provided by (used for) financing activities     (1,421) (747)    
Effect of Exchange Rate on Cash and Cash Equivalents     0 0    
Cash and Cash Equivalents, Period Increase (Decrease)     7,039 26,451    
Cash and Cash Equivalents, at Carrying Value 137,024 107,923 137,024 107,923 129,985 81,472
Guarantor Subsidiaries [Member]            
Income Statement [Abstract]            
Net sales 138,638 204,222 505,945      
Cost of Goods Sold 123,052 180,643 432,331      
Gross profit (loss) 15,586 23,579 73,614      
Selling, General and Administrative Expense 17,490 15,364 49,626      
Research and Development Expense 854 1,024 2,659      
Royalty Expense 1,354 1,924 5,110      
Operating Income (Loss) (4,112) 5,267 16,219      
Interest expense 0 0 (1)      
Interest Expense, Related Party 0 $ 0 0      
Foreign Currency Transaction Gain (Loss), before Tax (1) (422) 0    
Other income (expense) (42) $ (1) (87)      
Income (loss) before income taxes (4,071) 5,268 15,883      
Income Tax Expense (Benefit) (1,571) 2,115 5,918      
Income (Loss) from Equity Method Investments 0 0 0      
Net income (loss) (2,500) 3,153 9,965      
Net loss attributable to noncontrolling interests 0 0 0      
Net income (loss) attributable to Titan (2,500) 3,153 9,965      
Comprehensive Income Statement [Abstract]            
Net income (loss) (2,500) 3,153 9,965      
Currency translation adjustment, net 0 0        
Pension liability adjustments, net of tax 427 450        
Comprehensive Income (Loss) (2,073) 3,603        
Net comprehensive (loss), attributable to noncontrolling interests 0 0        
Comprehensive income (loss) attributable to Titan (2,073) 3,603        
Statement of Financial Position [Abstract]            
Cash and Cash Equivalents, at Carrying Value 4 4 4 4 4 4
Accounts Receivable, Net, Current 64,700   64,700   63,645  
Inventory, Net 94,431   94,431   103,230  
Prepaid Expense, Deffered Income Taxes and Other Assets, Current 22,857   22,857   21,105  
Assets, Current 181,992   181,992   187,984  
Property, Plant and Equipment, Net 143,468   143,468   160,318  
Equity Method Investments 0   0   0  
Other Assets, Goodwill, Deferred Income Tax Asset, Noncurrent 1,197   1,197   827  
Assets 326,657   326,657   349,129  
Short-term debt 0   0   0  
Accounts Payable, Current 10,859   10,859   10,876  
Deferred Income Taxes and Other Liabilities, Current 39,214   39,214   45,291  
Liabilities, Current 50,073   50,073   56,167  
Long-term debt 0   0   0  
Liabilities, Other than Long-term Debt, Noncurrent 18,166   18,166   20,867  
Due to Related Parties (253,160)   (253,160)   (228,307)  
Redeemable Noncontrolling Interest, Equity, Carrying Amount 0   0   0  
Stockholders' Equity Attributable to Parent 511,578   511,578   500,402  
Stockholders' Equity Attributable to Noncontrolling Interest 0   0   0  
Liabilities and Equity 326,657   326,657   349,129  
Statement of Cash Flows [Abstract]            
Net cash provided by operating activities     4,532 6,481    
Capital expenditures     (4,562) (6,841)    
Acquisitions, net of cash acquired       0    
Additional equity investment in Wheels India       0    
Payments for (Proceeds from) Other Investing Activities     30 360    
Net cash used for investing activities     (4,532) (6,481)    
Proceeds from borrowings     0      
Repayments of Other Debt     0 0    
Proceeds from Other Debt       0    
Proceeds from Stock Options Exercised     0 0    
Excess Tax Benefit from Share-based Compensation, Financing Activities     0 0    
Payment of financing fees       0    
Payments of Dividends, Common Stock     0 0    
Net cash provided by (used for) financing activities     0 0    
Effect of Exchange Rate on Cash and Cash Equivalents     0 0    
Cash and Cash Equivalents, Period Increase (Decrease)     0 0    
Cash and Cash Equivalents, at Carrying Value 4 4 4 4 4 4
Non-Guarantor Subsidiaries [Member]            
Income Statement [Abstract]            
Net sales 170,198 245,357 581,017      
Cost of Goods Sold 159,435 225,091 533,997      
Gross profit (loss) 10,763 20,266 47,020      
Selling, General and Administrative Expense 15,904 21,835 52,039      
Research and Development Expense 2,128 2,223 6,188      
Royalty Expense 767 1,751 3,131      
Operating Income (Loss) (8,036) (5,543) (14,338)      
Interest expense (248) (823) (1,436)      
Interest Expense, Related Party (214) (1,661) (604)      
Foreign Currency Transaction Gain (Loss), before Tax (15,514) (13,244) (8,570) (11,291)    
Other income (expense) (1,123) (1,754) (4,740)      
Income (loss) before income taxes (22,889) (19,517) (20,208)      
Income Tax Expense (Benefit) (1,575) (2,192) (2,755)      
Income (Loss) from Equity Method Investments (4,353) (1,659) (981)      
Net income (loss) (25,667) (18,984) (18,434)      
Net loss attributable to noncontrolling interests (6,136) (7,950) (9,919)      
Net income (loss) attributable to Titan (19,531) (11,034) (8,515)      
Comprehensive Income Statement [Abstract]            
Net income (loss) (25,667) (18,984) (18,434)      
Currency translation adjustment, net (28,444) (40,174)        
Pension liability adjustments, net of tax 45 (408)        
Comprehensive Income (Loss) (54,066) (59,566)        
Net comprehensive (loss), attributable to noncontrolling interests (8,233) (17,002)        
Comprehensive income (loss) attributable to Titan (45,833) (42,564)        
Statement of Financial Position [Abstract]            
Cash and Cash Equivalents, at Carrying Value 56,784 72,344 56,784 72,344 71,462 107,884
Accounts Receivable, Net, Current 119,055   119,055   135,788  
Inventory, Net 192,704   192,704   228,202  
Prepaid Expense, Deffered Income Taxes and Other Assets, Current 49,708   49,708   55,761  
Assets, Current 418,251   418,251   491,213  
Property, Plant and Equipment, Net 308,127   308,127   359,506  
Equity Method Investments 110,309   110,309   109,768  
Other Assets, Goodwill, Deferred Income Tax Asset, Noncurrent 72,735   72,735   80,172  
Assets 909,422   909,422   1,040,659  
Short-term debt 21,038   21,038   26,233  
Accounts Payable, Current 115,505   115,505   133,634  
Deferred Income Taxes and Other Liabilities, Current 46,054   46,054   55,208  
Liabilities, Current 182,597   182,597   215,075  
Long-term debt 32,281   32,281   36,342  
Liabilities, Other than Long-term Debt, Noncurrent 55,586   55,586   71,496  
Due to Related Parties 217,767   217,767   284,733  
Redeemable Noncontrolling Interest, Equity, Carrying Amount 75,615   75,615   71,192  
Stockholders' Equity Attributable to Parent 344,445   344,445   354,450  
Stockholders' Equity Attributable to Noncontrolling Interest 1,131   1,131   7,371  
Liabilities and Equity 909,422   909,422   1,040,659  
Statement of Cash Flows [Abstract]            
Net cash provided by operating activities     16,423 42,853    
Capital expenditures     (29,530) (38,722)    
Acquisitions, net of cash acquired       13,346    
Additional equity investment in Wheels India       14,268    
Payments for (Proceeds from) Other Investing Activities     4,287 4,250    
Net cash used for investing activities     (25,243) (33,550)    
Proceeds from borrowings     (14,566)      
Repayments of Other Debt     (11,382) (60,359)    
Proceeds from Other Debt       (14,914)    
Proceeds from Stock Options Exercised     0 0    
Excess Tax Benefit from Share-based Compensation, Financing Activities     0 0    
Payment of financing fees       0    
Payments of Dividends, Common Stock     0 0    
Net cash provided by (used for) financing activities     3,184 (45,445)    
Effect of Exchange Rate on Cash and Cash Equivalents     (9,042) 602    
Cash and Cash Equivalents, Period Increase (Decrease)     (14,678) (35,540)    
Cash and Cash Equivalents, at Carrying Value 56,784 72,344 56,784 $ 72,344 71,462 $ 107,884
Consolidation, Eliminations [Member]            
Income Statement [Abstract]            
Net sales 0 0 0      
Cost of Goods Sold 0 0 0      
Gross profit (loss) 0 0 0      
Selling, General and Administrative Expense 0 0 0      
Research and Development Expense 0 0 0      
Royalty Expense 0 0 0      
Operating Income (Loss) 0 0 0      
Interest expense 0 0 0      
Interest Expense, Related Party 0 $ 0 $ 0      
Foreign Currency Transaction Gain (Loss), before Tax 0    
Other income (expense) 0 $ 0 $ 0      
Income (loss) before income taxes 0 0 0      
Income Tax Expense (Benefit) 0 0 0      
Income (Loss) from Equity Method Investments 28,167 15,831 8,469      
Net income (loss) 28,167 15,831 8,469      
Net loss attributable to noncontrolling interests 0 0 0      
Net income (loss) attributable to Titan 28,167 15,831 8,469      
Comprehensive Income Statement [Abstract]            
Net income (loss) 28,167 15,831 8,469      
Currency translation adjustment, net 28,444 40,174        
Pension liability adjustments, net of tax (472) (42)        
Comprehensive Income (Loss) 56,139 55,963        
Net comprehensive (loss), attributable to noncontrolling interests 0 0        
Comprehensive income (loss) attributable to Titan 56,139 55,963        
Statement of Financial Position [Abstract]            
Cash and Cash Equivalents, at Carrying Value 0   0   0  
Accounts Receivable, Net, Current 0   0   0  
Inventory, Net 0   0   0  
Prepaid Expense, Deffered Income Taxes and Other Assets, Current 0   0   0  
Assets, Current 0   0   0  
Property, Plant and Equipment, Net 0   0   0  
Equity Method Investments (856,023)   (856,023)   (854,852)  
Other Assets, Goodwill, Deferred Income Tax Asset, Noncurrent 0   0   0  
Assets (856,023)   (856,023)   (854,852)  
Short-term debt 0   0   0  
Accounts Payable, Current 0   0   0  
Deferred Income Taxes and Other Liabilities, Current 0   0   0  
Liabilities, Current 0   0   0  
Long-term debt 0   0   0  
Liabilities, Other than Long-term Debt, Noncurrent 0   0   0  
Due to Related Parties 0   0   0  
Redeemable Noncontrolling Interest, Equity, Carrying Amount 0   0   0  
Stockholders' Equity Attributable to Parent (856,023)   (856,023)   (854,852)  
Stockholders' Equity Attributable to Noncontrolling Interest 0   0   0  
Liabilities and Equity (856,023)   (856,023)   (854,852)  
Statement of Cash Flows [Abstract]            
Cash and Cash Equivalents, at Carrying Value 0   0   $ 0  
Cost of Goods, Total [Member]            
Income Statement [Abstract]            
Cost of Goods Sold $ 282,683 $ 405,940 966,962 $ 1,395,861    
Senior Secured Notes 7.875 Percent [Member] | Parent [Member]            
Income Statement [Abstract]            
Net sales       0    
Cost of Goods Sold       719    
Gross profit (loss)       (719)    
Selling, General and Administrative Expense       6,064    
Research and Development Expense       72    
Royalty Expense       0    
Operating Income (Loss)       (6,855)    
Interest expense       (24,645)    
Interest Expense, Related Party       (4,963)    
Other income (expense)       (2,352)    
Income (loss) before income taxes       (24,193)    
Income Tax Expense (Benefit)       (11,021)    
Income (Loss) from Equity Method Investments       (33,864)    
Net income (loss)     (34,392) (47,036)    
Net loss attributable to noncontrolling interests       0    
Net income (loss) attributable to Titan       (47,036)    
Comprehensive Income Statement [Abstract]            
Net income (loss)     (34,392) (47,036)    
Currency translation adjustment, net     (69,394) (31,960)    
Pension liability adjustments, net of tax     1,969 787    
Comprehensive Income (Loss)     (101,817) (78,209)    
Net comprehensive (loss), attributable to noncontrolling interests     0 0    
Comprehensive income (loss) attributable to Titan     (101,817) (78,209)    
Senior Secured Notes 7.875 Percent [Member] | Guarantor Subsidiaries [Member]            
Income Statement [Abstract]            
Net sales       712,844    
Cost of Goods Sold       650,797    
Gross profit (loss)       62,047    
Selling, General and Administrative Expense       51,965    
Research and Development Expense       4,391    
Royalty Expense       5,698    
Operating Income (Loss)       (7)    
Interest expense       0    
Interest Expense, Related Party       0    
Other income (expense)       (49)    
Income (loss) before income taxes       42    
Income Tax Expense (Benefit)       488    
Income (Loss) from Equity Method Investments       0    
Net income (loss)     9,965 (446)    
Net loss attributable to noncontrolling interests       0    
Net income (loss) attributable to Titan       (446)    
Comprehensive Income Statement [Abstract]            
Net income (loss)     9,965 (446)    
Currency translation adjustment, net     0 0    
Pension liability adjustments, net of tax     1,281 1,350    
Comprehensive Income (Loss)     11,246 904    
Net comprehensive (loss), attributable to noncontrolling interests     0 0    
Comprehensive income (loss) attributable to Titan     11,246 904    
Senior Secured Notes 7.875 Percent [Member] | Non-Guarantor Subsidiaries [Member]            
Income Statement [Abstract]            
Net sales       799,406    
Cost of Goods Sold       744,345    
Gross profit (loss)       55,061    
Selling, General and Administrative Expense       67,913    
Research and Development Expense       6,455    
Royalty Expense       5,548    
Operating Income (Loss)       (24,855)    
Interest expense       (2,491)    
Interest Expense, Related Party       4,963    
Other income (expense)       (5,070)    
Income (loss) before income taxes       (38,530)    
Income Tax Expense (Benefit)       (5,112)    
Income (Loss) from Equity Method Investments       (20,540)    
Net income (loss)     (18,434) (53,958)    
Net loss attributable to noncontrolling interests       (19,621)    
Net income (loss) attributable to Titan       (34,337)    
Comprehensive Income Statement [Abstract]            
Net income (loss)     (18,434) (53,958)    
Currency translation adjustment, net     (69,394) (31,960)    
Pension liability adjustments, net of tax     688 (563)    
Comprehensive Income (Loss)     (87,140) (86,481)    
Net comprehensive (loss), attributable to noncontrolling interests     (13,150) (30,247)    
Comprehensive income (loss) attributable to Titan     (73,990) (56,234)    
Senior Secured Notes 7.875 Percent [Member] | Consolidation, Eliminations [Member]            
Income Statement [Abstract]            
Net sales       0    
Cost of Goods Sold       0    
Gross profit (loss)       0    
Selling, General and Administrative Expense       0    
Research and Development Expense       0    
Royalty Expense       0    
Operating Income (Loss)       0    
Interest expense       0    
Interest Expense, Related Party       0    
Other income (expense)       0    
Income (loss) before income taxes       0    
Income Tax Expense (Benefit)       0    
Income (Loss) from Equity Method Investments       54,404    
Net income (loss)     8,469 54,404    
Net loss attributable to noncontrolling interests       0    
Net income (loss) attributable to Titan       54,404    
Comprehensive Income Statement [Abstract]            
Net income (loss)     8,469 54,404    
Currency translation adjustment, net     69,394 31,960    
Pension liability adjustments, net of tax     (1,969) (787)    
Comprehensive Income (Loss)     75,894 85,577    
Net comprehensive (loss), attributable to noncontrolling interests     0 0    
Comprehensive income (loss) attributable to Titan     $ 75,894 $ 85,577