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ROYALTY EXPENSE | 6 Months Ended
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Jun. 30, 2016
Royalty Expense [Abstract] |
ROYALTY EXPENSE | ROYALTY EXPENSE The Company has trademark license agreements with Goodyear to manufacture and sell certain farm tires under the Goodyear name. These agreements cover sales in North America, Latin America, Europe, the Middle East, Africa, Russia and other Commonwealth of Independent States countries. The North American and Latin American farm tire royalties were prepaid through March 2018 as a part of the 2011 Goodyear Latin American farm tire acquisition. The Company also has a trademark license agreement with Goodyear to manufacture and sell certain non-farm tire products in Latin America. Royalty expenses recorded were $2.1 million and $2.9 million for the quarters ended June 30, 2016 and 2015, respectively. Royalty expenses were $4.4 million and $6.1 million for the six months ended June 30, 2016 and 2015, respectively.

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- Definition The entire disclosure of the nature of royalty expense due to a trademark license agreement to manufacture and sell products under another brand name. + References No definition available. + Details
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