XML 52 R39.htm IDEA: XBRL DOCUMENT

SUBSEQUENT EVENTS (Notes)	12 Months Ended
SUBSEQUENT EVENTS (Notes)	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS In January 2017, the Company converted 97.1% of the principal balance of its 5.625% convertible senior subordinated notes (Notes), which matured on January 15, 2017, into shares of Titan common stock. Prior to maturity, $60.2 million in aggregate principal amount of the Notes was outstanding, of which holders of $58.5 million in aggregate principal amount of the Notes, or 97.1%, converted their Notes into shares of Titan common stock pursuant to the terms of the indenture governing the Notes. The $58.5 million in principal amount of converted Notes were converted into 5,462,264 shares of Titan common stock, representing approximately 10% of Titan’s outstanding common stock prior to conversion. Each $1,000 principal amount of the Notes was convertible into 93.436 shares of Titan common stock. The remaining $1.7 million principal amount of the Notes that was not converted was paid in cash at maturity. On February 17, 2017, the Company entered into a credit and security agreement with respect to a new $75 million revolving credit facility (credit facility) with agent BMO Harris Bank N.A. and other financial institutions party thereto. The new credit facility is collateralized by accounts receivable and inventory of certain of the Company’s domestic subsidiaries and includes a maturity of the earlier of five years or six months prior to maturity of the Company’s 6.875% senior secured notes due in October 2020. This credit facility replaces the Company’s $150 million revolving credit facility which was previously scheduled to terminate in December 2017.