SUBSIDIARY GUARANTOR FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

SUBSIDIARY GUARANTOR FINANCIAL INFORMATION

The Company's 6.50% senior secured notes due 2023 are guaranteed by the following 100% owned subsidiaries of the Company: Titan Tire Corporation, Titan Tire Corporation of Bryan, Titan Tire Corporation of Freeport, and Titan Wheel Corporation of Illinois. The note guarantees are full and unconditional, joint and several obligations of the guarantors. The guarantees of the guarantor subsidiaries are subject to release in limited circumstances only upon the occurrence of certain customary conditions. The following condensed consolidating financial statements are presented using the equity method of accounting. Certain sales & marketing expenses recorded by non-guarantor subsidiaries have not been allocated to the guarantor subsidiaries.



(Amounts in thousands)	Consolidating Condensed Statements of Operations Year Ended December 31, 2017
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net sales	$	—		$	567,830		$	901,092		$	—	$	1,468,922
Cost of sales	362			495,939			804,426			—		1,300,727
Asset impairment	—			—			9,917			—		9,917
Gross profit (loss)	(362		)	71,891			86,749			—		158,278
Selling, general, and administrative expenses	14,218			59,769			76,689			—		150,676
Research and development expenses	—			3,685			6,617			—		10,302
Royalty expense	1,178			5,703			3,603			—		10,484
Income (loss) from operations	(15,758		)	2,734			(160		)	—		(13,184		)
Interest expense	(29,182		)	—			(1,047		)	—		(30,229		)
Loss on note repurchase	(18,646		)	—			—			—		(18,646		)
Intercompany interest income (expense)	2,412			3,937			(6,349		)	—		—
Foreign exchange loss	(2		)	(100		)	(1,856		)	—		(1,958		)
Other income (expense)	4,623			(178		)	6,696			—		11,141
Income (loss) before income taxes	(56,553		)	6,393			(2,716		)	—		(52,876		)
Provision (benefit) for income taxes	(1,446		)	4,173			8,476			—		11,203
Equity in earnings of subsidiaries	(8,972		)	—			(8,400		)	17,372		—
Net income (loss)	(64,079		)	2,220			(19,592		)	17,372		(64,079		)
Net loss noncontrolling interests	—			—			(4,037		)	—		(4,037		)
Net income (loss) attributable to Titan	$	(64,079	)	$	2,220		$	(15,555	)	$	17,372	$	(60,042	)



(Amounts in thousands)	Consolidating Condensed Statements of Operations Year Ended December 31, 2016
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net sales	$	—		$	498,390		$	767,107		$	—	$	1,265,497
Cost of sales	759			432,705			693,169			—		1,126,633
Gross profit (loss)	(759		)	65,685			73,938			—		138,864
Selling, general, and administrative expenses	11,394			66,815			66,779			—		144,988
Research and development expenses	—			2,876			7,095			—		9,971
Royalty expense	667			4,866			3,323			—		8,856
Loss from operations	(12,820		)	(8,872		)	(3,259		)	—		(24,951		)
Interest expense	(32,208		)	—			(331		)	—		(32,539		)
Intercompany interest income (expense)	1,781			3,525			(5,306		)	—		—
Foreign exchange gain	—			298			8,252			—		8,550
Other income	2,503			180			9,783			—		12,466
Income (loss) before income taxes	(40,744		)	(4,869		)	9,139			—		(36,474		)
Provision (benefit) for income taxes	(64		)	30			3,315			—		3,281
Equity in earnings of subsidiaries	924			—			(6,689		)	5,765		—
Net income (loss)	(39,756		)	(4,899		)	(865		)	5,765		(39,755		)
Net loss noncontrolling interests	—			—			(2,150		)	—		(2,150		)
Net income (loss) attributable to Titan	$	(39,756	)	$	(4,899	)	$	1,285		$	5,765	$	(37,605	)



(Amounts in thousands)	Consolidating Condensed Statements of Operations Year Ended December 31, 2015
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net sales	$	—		$	640,785		$	753,986		$	—	$	1,394,771
Cost of sales	2,826			561,429			695,773			—		1,260,028
Gross profit (loss)	(2,826		)	79,356			58,213			—		134,743
Selling, general, and administrative expenses	7,513			69,686			63,194			—		140,393
Research and development expenses	—			3,505			7,657			—		11,162
Royalty expense	—			6,711			3,822			—		10,533
Loss from operations	(10,339		)	(546		)	(16,460		)	—		(27,345		)
Interest expense	(32,291		)	—			(1,741		)	—		(34,032		)
Intercompany interest income (expense)	825			2,361			(3,186		)	—		—
Foreign exchange gain (loss)	4,296			(462		)	(8,592		)	—		(4,758		)
Other income	2,327			2,572			6,164			—		11,063
Income (loss) before income taxes	(35,182		)	3,925			(23,815		)	—		(55,072		)
Provision (benefit) for income taxes	34,341			(1,518		)	1,933			—		34,756
Equity in earnings of subsidiaries	(23,830		)	—			(2,689		)	26,519		—
Net income (loss)	(93,353		)	5,443			(28,437		)	26,519		(89,828		)
Net loss noncontrolling interests	—			—			(14,654		)	—		(14,654		)
Net income (loss) attributable to Titan	$	(93,353	)	$	5,443		$	(13,783	)	$	26,519	$	(75,174	)



(Amounts in thousands)	Consolidating Condensed Statements of Comprehensive Income (Loss) For the Year Ended December 31, 2017
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	(64,079	)	$	2,220	$	(19,592	)	$	17,372		$	(64,079	)
Currency translation adjustment, net	30,818			—		30,818			(30,818		)	30,818
Pension liability adjustments, net of tax	1,523			1,807		(284		)	(1,523		)	1,523
Comprehensive income (loss)	(31,738		)	4,027		10,942			(14,969		)	(31,738		)
Net comprehensive income attributable to noncontrolling interests	—			—		(2,898		)	—			(2,898		)
Comprehensive income (loss) attributable to Titan	$	(31,738	)	$	4,027	$	13,840		$	(14,969	)	$	(28,840	)



(Amounts in thousands)	Consolidating Condensed Statements of Comprehensive Income (Loss) For the Year Ended December 31, 2016
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	(39,756	)	$	(4,899	)	$	(865	)	$	5,765		$	(39,755	)
Currency translation adjustment, net	5,857			—			5,857			(5,857		)	5,857
Pension liability adjustments, net of tax	1,071			1,680			(609		)	(1,071		)	1,071
Comprehensive income (loss)	(32,828		)	(3,219		)	4,383			(1,163		)	(32,827		)
Net comprehensive income attributable to noncontrolling interests	—			—			5,305			—			5,305
Comprehensive loss attributable to Titan	$	(32,828	)	$	(3,219	)	$	(922	)	$	(1,163	)	$	(38,132	)



(Amounts in thousands)	Consolidating Condensed Statements of Comprehensive Income (Loss) For the Year Ended December 31, 2015
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net income (loss)	$	(93,353	)	$	5,443		$	(28,437	)	$	26,519	$	(89,828	)
Currency translation adjustment, net	(79,196		)	—			(79,196		)	79,196		(79,196		)
Pension liability adjustments, net of tax	(662		)	(1,557		)	895			662		(662		)
Comprehensive income (loss)	(173,211		)	3,886			(106,738		)	106,377		(169,686		)
Net comprehensive loss attributable to noncontrolling interests	—			—			(19,391		)	—		(19,391		)
Comprehensive income (loss) attributable to Titan	$	(173,211	)	$	3,886		$	(87,347	)	$	106,377	$	(150,295	)



(Amounts in thousands)	Consolidating Condensed Balance Sheets December 31, 2017
	Titan Intl., Inc. (Parent)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	59,740	$	13		$	83,817		$	—		$	143,570
Accounts receivable	—		54,009			172,694			—			226,703
Inventories	—		96,036			243,800			—			339,836
Prepaid and other current assets	17,789		20,917			34,378			—			73,084
Total current assets	77,529		170,975			534,689			—			783,193
Property, plant, and equipment, net	2,466		110,470			308,312			—			421,248
Investment in subsidiaries	766,777		—			74,003			(840,780		)	—
Other long-term assets	6,389		967			78,315			—			85,671
Total assets	$	853,161	$	282,412		$	995,319		$	(840,780	)	$	1,290,112
Liabilities and Stockholders’ Equity
Short-term debt	$	—	$	—		$	43,651		$	—		$	43,651
Accounts payable	4,258		20,787			170,452			—			195,497
Other current liabilities	38,495		30,170			65,109			—			133,774
Total current liabilities	42,753		50,957			279,212			—			372,922
Long-term debt	394,284		—			12,887			—			407,171
Other long-term liabilities	11,544		16,458			58,740			—			86,742
Intercompany accounts	75,103		(286,525		)	211,422			—			—
Redeemable noncontrolling interest	—		—			113,193			—			113,193
Titan stockholders' equity	329,477		501,522			330,710			(840,780		)	320,929
Noncontrolling interests	—		—			(10,845		)	—			(10,845		)
Total liabilities and stockholders’ equity	$	853,161	$	282,412		$	995,319		$	(840,780	)	$	1,290,112



(Amounts in thousands)	Consolidating Condensed Balance Sheets December 31, 2016
	Titan Intl., Inc. (Parent)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	86,190	$	9		$	61,628		$	—		$	147,827
Certificates of deposit	50,000		—			—			—			50,000
Accounts receivable	—		43,485			135,899			—			179,384
Inventories	—		76,823			195,413			—			272,236
Prepaid and other current assets	11,965		21,901			45,868			—			79,734
Total current assets	148,155		142,218			438,808			—			729,181
Property, plant, and equipment, net	4,898		124,049			308,254			—			437,201
Investment in subsidiaries	742,679		—			87,385			(830,064		)	—
Other long-term assets	23,627		1,118			74,769			—			99,514
Total assets	$	919,359	$	267,385		$	909,216		$	(830,064	)	$	1,265,896
Liabilities and Stockholders’ Equity
Short-term debt	$	60,148	$	—		$	37,264		$	—		$	97,412
Accounts payable	4,187		14,398			129,670			—			148,255
Other current liabilities	34,140		34,475			51,822			—			120,437
Total current liabilities	98,475		48,873			218,756			—			366,104
Long-term debt	395,852		—			12,908			—			408,760
Other long-term liabilities	27,636		18,473			47,235			—			93,344
Intercompany accounts	94,977		(300,823		)	205,846			—			—
Redeemable noncontrolling interest	—		—			104,809			—			104,809
Titan stockholders’ equity	302,419		500,862			323,600			(830,064		)	296,817
Noncontrolling interests	—		—			(3,938		)	—			(3,938		)
Total liabilities and stockholders’ equity	$	919,359	$	267,385		$	909,216		$	(830,064	)	$	1,265,896



(Amounts in thousands)	Consolidating Condensed Statements of Cash Flows Year Ended December 31, 2017
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash provided by (used for) operating activities	$	(49,856	)	$	7,235		$	41,332		$	(1,289	)
Cash flows from investing activities:
Capital expenditures	(830		)	(7,620		)	(24,176		)	(32,626		)
Certificates of deposit	50,000			—			—			50,000
Other, net	—			389			604			993
Net cash provided by (used for) investing activities	49,170			(7,231		)	(23,572		)	18,367
Cash flows from financing activities:
Proceeds from borrowings	394,191			—			53,448			447,639
Repurchase of senior secured notes	(415,395		)	—			—			(415,395		)
Payment on debt	(3,393		)	—			(51,767		)	(55,160		)
Dividends paid	(1,167		)	—			—			(1,167		)
Net cash provided by (used for) financing activities	(25,764		)	—			1,681			(24,083		)
Effect of exchange rate change on cash	—			—			2,748			2,748
Net increase (decrease) in cash and cash equivalents	(26,450		)	4			22,189			(4,257		)
Cash and cash equivalents, beginning of period	86,190			9			61,628			147,827
Cash and cash equivalents, end of period	$	59,740		$	13		$	83,817		$	143,570



(Amounts in thousands)	Consolidating Condensed Statements of Cash Flows Year Ended December 31, 2016
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash provided by (used for) operating activities	$	(3,193	)	$	8,035		$	38,658		$	43,500
Cash flows from investing activities:
Capital expenditures	(1,937		)	(8,444		)	(31,567		)	(41,948		)
Certificates of deposit	(50,000		)	—			—			(50,000		)
Other, net	—			414			1,808			2,222
Net cash used for investing activities	(51,937		)	(8,030		)	(29,759		)	(89,726		)
Cash flows from financing activities:
Proceeds from borrowings	—			—			17,285			17,285
Payment on debt	—			—			(22,634		)	(22,634		)
Proceeds from exercise of stock options	—			—			—			—
Dividends paid	(1,081		)	—			—			(1,081		)
Net cash used for financing activities	(1,081		)	—			(5,349		)	(6,430		)
Effect of exchange rate change on cash	—			—			295			295
Net increase (decrease) in cash and cash equivalents	(56,211		)	5			3,845			(52,361		)
Cash and cash equivalents, beginning of period	142,401			4			57,783			200,188
Cash and cash equivalents, end of period	$	86,190		$	9		$	61,628		$	147,827



(Amounts in thousands)	Consolidating Condensed Statements of Cash Flows Year Ended December 31, 2015
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash provided by operating activities	$	15,933		$	6,441		$	41,556		$	63,930
Cash flows from investing activities:
Capital expenditures	(2,585		)	(6,254		)	(39,590		)	(48,429		)
Other, net	—			(187		)	(1,321		)	(1,508		)
Net cash used for investing activities	(2,585		)	(6,441		)	(40,911		)	(49,937		)
Cash flows from financing activities:
Proceeds from borrowings	—			—			5,727			5,727
Payment on debt	—			—			(5,521		)	(5,521		)
Proceeds from exercise of stock options	145			—			—			145
Dividends paid	(1,077		)	—			—			(1,077		)
Net cash provided by (used for) financing activities	(932		)	—			206			(726		)
Effect of exchange rate change on cash	—			—			(14,530		)	(14,530		)
Net increase (decrease) in cash and cash equivalents	12,416			—			(13,679		)	(1,263		)
Cash and cash equivalents, beginning of period	129,985			4			71,462			201,451
Cash and cash equivalents, end of period	$	142,401		$	4		$	57,783		$	200,188