SUBSIDIARY GUARANTOR FINANCIAL INFORMATION

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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

SUBSIDIARY GUARANTOR FINANCIAL INFORMATION

The senior secured notes are guaranteed by the following wholly-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. See the indenture incorporated by reference to the Company's most recent Form 10-K for additional information. The following condensed consolidating financial statements are presented using the equity method of accounting. Certain sales and marketing expenses recorded by non-guarantor subsidiaries have not been allocated to the guarantor subsidiaries.



(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Three Months Ended March 31, 2018
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	170,759		$	254,623		$	—		$	425,382
Cost of sales	108			141,530			224,183			—			365,821
Gross (loss) profit	(108		)	29,229			30,440			—			59,561
Selling, general and administrative expenses	1,196			15,275			19,450			—			35,921
Research and development expenses	240			986			1,651			—			2,877
Royalty expense	253			1,513			897			—			2,663
(Loss) income from operations	(1,797		)	11,455			8,442			—			18,100
Interest expense	(6,813		)	—			(705		)	—			(7,518		)
Intercompany interest income (expense)	624			1,013			(1,637		)	—			—
Foreign exchange loss	—			(8		)	(4,424		)	—			(4,432		)
Other income (expense)	5,669			(165		)	2,246			—			7,750
(Loss) income before income taxes	(2,317		)	12,295			3,922			—			13,900
(Benefit) provision for income taxes	(10,066		)	4,260			5,020			—			(786		)
Equity in earnings of subsidiaries	6,938			—			4,337			(11,275		)	—
Net income (loss)	14,687			8,035			3,239			(11,275		)	14,686
Net loss noncontrolling interests	—			—			(1,679		)	—			(1,679		)
Net income (loss) attributable to Titan	$	14,687		$	8,035		$	4,918		$	(11,275	)	$	16,365



(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Three Months Ended March 31, 2017
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	143,836		$	213,665		$	—		$	357,501
Cost of sales	69			126,421			190,810			—			317,300
Gross (loss) profit	(69		)	17,415			22,855			—			40,201
Selling, general and administrative expenses	4,871			17,271			19,196			—			41,338
Research and development expenses	—			903			1,940			—			2,843
Royalty expense	417			1,294			898			—			2,609
(Loss) income from operations	(5,357		)	(2,053		)	821			—			(6,589		)
Interest expense	(7,445		)	—			(276		)	—			(7,721		)
Intercompany interest income (expense)	581			—			(581		)	—			—
Foreign exchange gain	—			—			4,490						4,490
Other income (loss)	1,280			(436		)	1,833			—			2,677
(Loss) income before income taxes	(10,941		)	(2,489		)	6,287			—			(7,143		)
Provision for income taxes	1,676			174			1,592			—			3,442
Equity in earnings of subsidiaries	4,976			—			(4,723		)	(253		)	—
Net loss	(7,641		)	(2,663		)	(28		)	(253		)	(10,585		)
Net income noncontrolling interests	—			—			868			—			868
Net loss attributable to Titan	$	(7,641	)	$	(2,663	)	$	(896	)	$	(253	)	$	(11,453	)



(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Three Months Ended March 31, 2018
	Titan Intl., Inc. (Parent)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	14,687	$	8,035	$	3,239		$	(11,275	)	$	14,686
Currency translation adjustment	8,062		—		8,062			(8,062		)	8,062
Pension liability adjustments, net of tax	883		646		237			(883		)	883
Comprehensive income (loss)	23,632		8,681		11,538			(20,220		)	23,631
Net comprehensive loss attributable to redeemable and noncontrolling interests	—		—		(1,040		)	—			(1,040		)
Comprehensive income (loss) attributable to Titan	$	23,632	$	8,681	$	12,578		$	(20,220	)	$	24,671



(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Three Months Ended March 31, 2017
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net loss	$	(7,641	)	$	(2,663	)	$	(28	)	$	(253	)	$	(10,585	)
Currency translation adjustment	11,019			—			11,019			(11,019		)	11,019
Pension liability adjustments, net of tax	733			625			108			(733		)	733
Comprehensive income (loss)	4,111			(2,038		)	11,099			(12,005		)	1,167
Net comprehensive income attributable to redeemable and noncontrolling interests	—			—			2,783			—			2,783
Comprehensive income (loss) attributable to Titan	$	4,111		$	(2,038	)	$	8,316		$	(12,005	)	$	(1,616	)



(Amounts in thousands)	Condensed Consolidating Balance Sheets March 31, 2018
	Titan Intl., Inc. (Parent)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	45,883	$	9		$	66,537		$	—		$	112,429
Accounts receivable, net	—		80,597			213,908			—			294,505
Inventories	—		104,758			263,677			—			368,435
Prepaid and other current assets	16,900		19,779			38,882			—			75,561
Total current assets	62,783		205,143			583,004			—			850,930
Property, plant and equipment, net	1,451		106,681			309,294			—			417,426
Investment in subsidiaries	753,962		—			78,214			(832,176		)	—
Other assets	6,525		919			77,255			—			84,699
Total assets	$	824,721	$	312,743		$	1,047,767		$	(832,176	)	$	1,353,055
Liabilities and Equity
Short-term debt	$	—	$	—		$	55,171		$	—		$	55,171
Accounts payable	1,668		28,160			198,126			—			227,954
Other current liabilities	32,856		31,416			66,012			—			130,284
Total current liabilities	34,524		59,576			319,309			—			413,409
Long-term debt	394,490		—			13,118			—			407,608
Other long-term liabilities	9,424		15,525			59,675			—			84,624
Intercompany accounts	34,483		(272,561		)	238,078			—			—
Redeemable noncontrolling interest	—		—			115,369			—			115,369
Titan shareholders' equity	351,800		510,203			313,425			(832,176		)	343,252
Noncontrolling interests	—		—			(11,207		)	—			(11,207		)
Total liabilities and equity	$	824,721	$	312,743		$	1,047,767		$	(832,176	)	$	1,353,055



(Amounts in thousands)	Condensed Consolidating 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, net	—		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 assets	6,389		967			78,315			—			85,671
Total assets	$	853,161	$	282,412		$	995,319		$	(840,780	)	$	1,290,112
Liabilities and 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 shareholders' equity	329,477		501,522			330,710			(840,780		)	320,929
Noncontrolling interests	—		—			(10,845		)	—			(10,845		)
Total liabilities and equity	$	853,161	$	282,412		$	995,319		$	(840,780	)	$	1,290,112



(Amounts in thousands)	Condensed Consolidating Statements of Cash Flows For the Three Months Ended March 31, 2018
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash (used for) provided by operating activities	$	(13,778	)	$	1,375		$	(23,280	)	$	(35,683	)
Cash flows from investing activities:
Capital expenditures	—			(1,380		)	(6,427		)	(7,807		)
Other, net	220			1			573			794
Net cash provided by (used for) investing activities	220			(1,379		)	(5,854		)	(7,013		)
Cash flows from financing activities:
Proceeds from borrowings	—			—			16,480			16,480
Payment on debt	—			—			(5,720		)	(5,720		)
Dividends paid	(299		)	—			—			(299		)
Net cash (used for) provided by financing activities	(299		)	—			10,760			10,461
Effect of exchange rate change on cash	—			—			1,094			1,094
Net decrease in cash and cash equivalents	(13,857		)	(4		)	(17,280		)	(31,141		)
Cash and cash equivalents, beginning of period	59,740			13			83,817			143,570
Cash and cash equivalents, end of period	$	45,883		$	9		$	66,537		$	112,429



(Amounts in thousands)	Condensed Consolidating Statements of Cash Flows For the Three Months Ended March 31, 2017
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash (used for) provided by operating activities	$	(10,008	)	$	1,541		$	(6,072	)	$	(14,539	)
Cash flows from investing activities:
Capital expenditures	(358		)	(1,588		)	(6,443		)	(8,389		)
Other, net	—			47			527			574
Net cash used for investing activities	(358		)	(1,541		)	(5,916		)	(7,815		)
Cash flows from financing activities:
Proceeds from borrowings	—			—			14,635			14,635
Payment on debt	(3,393		)	—			(6,823		)	(10,216		)
Dividends paid	(271		)	—			—			(271		)
Net cash (used for) provided by financing activities	(3,664		)	—			7,812			4,148
Effect of exchange rate change on cash	—			—			1,537			1,537
Net decrease in cash and cash equivalents	(14,030		)	—			(2,639		)	(16,669		)
Cash and cash equivalents, beginning of period	86,190			9			61,628			147,827
Cash and cash equivalents, end of period	$	72,160		$	9		$	58,989		$	131,158