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RELATED PARTY TRANSACTIONS | 9 Months Ended
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Sep. 30, 2017
Related Party Transactions [Abstract] |
Related Party Transactions Disclosure [Text Block] | RELATED PARTY TRANSACTIONS The Company sells products and pays commissions to companies controlled by persons related to the Chairman of the Board of Directors of the Company, Mr. Maurice Taylor. The related party is Mr. Fred Taylor, who is Mr. Maurice Taylor’s brother. The companies which Mr. Fred Taylor is associated with that do business with Titan include the following: Blackstone OTR, LLC; F.B.T. Enterprises, Inc.; Green Carbon, Inc.; Silverstone, Inc.; and OTR Wheel Engineering, Inc. Sales of Titan products to these companies were approximately $0.3 million and $1.3 million for the three and nine months ended September 30, 2017, respectively, as compared to $0.2 million and $0.6 million for the three and nine months ended September 30, 2016, respectively. Titan had trade receivables due from these companies of approximately $0.2 million at September 30, 2017, and approximately $0.1 million at December 31, 2016. Titan had product purchases from these companies of approximately $0.2 million and $0.4 million for the three and nine months ended September 30, 2017, respectively, as compared to purchases of approximately $0.1 million and $0.3 million for the three and nine months ended September 30, 2016, respectively. Sales commissions paid to the above companies were approximately $0.7 million and $1.4 million for the three and nine months ended September 30, 2017, respectively, as compared to $0.4 million and $1.4 million for the three and nine months ended September 30, 2016, respectively. The Company sells products to Valuepart and Track Solutions Pty Ltd., which is controlled by relatives of a member of management of a Titan subsidiary. Sales of Titan products to this company were approximately $0.1 million and $0.2 million for the three and nine months ended September 30, 2017, respectively. In July 2013, the Company entered into a Shareholders’ Agreement between OEP and RDIF to acquire Voltyre-Prom. Mr. Richard M. Cashin Jr., a director of the Company, is the President of OEP, which owns 21.4% of the joint venture. The Shareholders’ Agreement contains a settlement put option which may require the Company to purchase equity interests in the joint venture from OEP and RDIF at a value set by the agreement. See Note 9 for additional information. The Company has a 34.2% equity stake in Wheels India Limited, a company incorporated in India and listed on the National Stock Exchange in India. The Company had trade payables due to Wheels India Limited of approximately $0.1 million at September 30, 2017, and approximately $0.1 million at December 31, 2016. The Company has a 19.5% equity stake in Titan-Yuxiang Wheel (Liuzhou) Co., Ltd, a company incorporated in China. The Company had trade payables due to Titan-Yuxiang Wheel (Liuzhou) Co., Ltd of approximately $1.7 million at September 30, 2017, and approximately $0.9 million at December 31, 2016. The Company has a 49.0% equity stake in Central Iowa Training and Enrichment Center, LLC, an entity that owns a commercial building located in Boone, IA.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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