XML 83 R72.htm IDEA: XBRL DOCUMENT v3.19.2
SUBSIDIARY GUARANTOR FINANCIAL INFORMATION (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Dec. 31, 2016
Income Statement [Abstract]                    
Revenue from Contract with Customer, Excluding Assessed Tax $ 390,597   $ 428,904   $ 800,971 $ 854,286        
Cost of sales 352,289   370,592   717,399 736,413        
Gross profit (loss) 38,308   58,312   83,572 117,873        
Selling, General and Administrative Expense 35,746   33,960   71,651 68,599        
Research and Development Expense 2,544   2,754   5,161 5,631        
Royalty expense 2,448   2,634   5,054 5,297        
Income (loss) from operations (2,430)   18,964   1,706 38,346        
Interest expense (8,295)   (7,672)   (16,228) (15,190)        
Intercompany Interest Expense Income 0   0   0 0        
Foreign Currency Transaction Gain (Loss), before Tax (1,239)   (3,610)   4,484 (8,042)        
Other income (expense) (2,069)   (2,477)   (3,065) (10,227)        
(Loss) income before income taxes (9,895)   10,159   (6,973) 25,341        
(Benefit) provision for income taxes (3,218)   1,683   (1,303) 897        
Equity in Net Earnings (Loss) of Subsidiaries 0   0   0 0        
Net income (loss) (6,677)   8,476   (5,670) 24,444        
Net (loss) income attributable to noncontrolling interests (253)   40   (1,224) (1,639)        
Net income (loss) attributable to Titan (6,424)   8,436   (4,446) 26,083        
Comprehensive Income Statement [Abstract]                    
Net income (loss) (6,677)   8,476   (5,670) 24,444        
Currency translation adjustment 5,423   (38,338)   1,044 (30,276)        
Pension liability adjustments, net of tax 538 $ 466 690 $ 883 1,004 1,573        
Comprehensive income (loss) (716)   (29,172)   (3,622) (4,259)        
Net comprehensive income (loss) attributable to redeemable and noncontrolling interests 385   (2,185)   317 (3,225)        
Comprehensive income (loss) attributable to Titan (1,101)   (26,987)   (3,939) (1,034)        
Statement of Financial Position [Abstract]                    
Cash and cash equivalents 66,366   106,491   66,366 106,491 $ 81,685 $ 143,570 $ 106,491 $ 143,570
Accounts Receivable, Net, Current 272,006       272,006   241,832      
Inventory, Net 385,368       385,368   395,735      
Prepaid Expense and Other Assets, Current 62,473       62,473   60,229      
Total current assets 786,213       786,213   779,481      
Property, Plant and Equipment, Net 375,997       375,997   384,872      
Equity Method Investments 0       0   0      
Other Assets, Noncurrent 107,318       107,318   86,903      
Total assets 1,269,528       1,269,528   1,251,256      
Short-term debt 71,366       71,366   51,885      
Accounts payable 209,422       209,422   212,129      
Other current liabilities 111,834       111,834   111,054      
Total current liabilities 392,622       392,622   375,068      
Long-term debt 445,388       445,388   409,572      
Liabilities, Other than Long-term Debt, Noncurrent 87,910       87,910   76,706      
Intercompany Accounts, Net 0       0   0      
Redeemable noncontrolling interest 55,517       55,517   119,813   117,546 113,193
Stockholders' Equity Attributable to Parent 282,934       282,934   279,048      
Stockholders' Equity Attributable to Noncontrolling Interest 5,157       5,157   (8,951)      
Total liabilities and equity 1,269,528       1,269,528   1,251,256      
Statement of Cash Flows [Abstract]                    
Net cash provided by (used for) operating activities         (10,001) (29,927)        
Capital expenditures         (16,725) (18,416)        
Payment related to redeemable noncontrolling interest agreement (41,000)       (41,000) 0        
Payments for (Proceeds from) Other Investing Activities         1,235 884        
Net cash provided by (used for) investing activities         (56,490) (17,532)        
Proceeds from borrowings         92,723 40,078        
Repayments of Other Debt         (42,083) (24,527)        
Payments of Dividends, Common Stock         (599) (598)        
Net cash provided by (used for) financing activities         50,041 14,953        
Effect of Exchange Rate on Cash and Cash Equivalents         1,131 (4,573)        
Cash and Cash Equivalents, Period Increase (Decrease)         (15,319) (37,079)        
Cash and cash equivalents 66,366   106,491   66,366 106,491 81,685 143,570 $ 106,491 $ 143,570
Parent Company [Member]                    
Income Statement [Abstract]                    
Revenue from Contract with Customer, Excluding Assessed Tax 0   0   0 0        
Cost of sales (11)   138   141 246        
Gross profit (loss) 11   (138)   (141) (246)        
Selling, General and Administrative Expense 2,030   1,678   3,181 2,873        
Research and Development Expense 228   253   492 493        
Royalty expense 401   628   1,064 881        
Income (loss) from operations (2,648)   (2,697)   (4,878) (4,493)        
Interest expense (7,243)   (6,826)   (14,170) (13,639)        
Intercompany Interest Expense Income 644   628   1,274 1,251        
Foreign Currency Transaction Gain (Loss), before Tax 16   0   (22) 0        
Other income (expense) (612)   (959)   (943) (6,628)        
(Loss) income before income taxes (8,619)   (7,936)   (16,853) (10,253)        
(Benefit) provision for income taxes (7,676)   (2,390)   (7,026) (12,456)        
Equity in Net Earnings (Loss) of Subsidiaries (5,734)   14,022   4,157 22,241        
Net income (loss) (6,677)   8,476   (5,670) 24,444        
Net (loss) income attributable to noncontrolling interests 0   0   0 0        
Net income (loss) attributable to Titan (6,677)   8,476   (5,670) 24,444        
Comprehensive Income Statement [Abstract]                    
Net income (loss) (6,677)   8,476   (5,670) 24,444        
Currency translation adjustment 5,423   (38,338)   1,044 (30,276)        
Pension liability adjustments, net of tax 538   690   1,004 1,573        
Comprehensive income (loss) (716)   (29,172)   (3,622) (4,259)        
Net comprehensive income (loss) attributable to redeemable and noncontrolling interests 0   0   0 0        
Comprehensive income (loss) attributable to Titan (716)   (29,172)   (3,622) (4,259)        
Statement of Financial Position [Abstract]                    
Cash and cash equivalents 6,352   34,694   6,352 34,694 23,630 59,740    
Accounts Receivable, Net, Current 0       0   0      
Inventory, Net 0       0   0      
Prepaid Expense and Other Assets, Current 2,996       2,996   3,853      
Total current assets 9,348       9,348   27,483      
Property, Plant and Equipment, Net 11,311       11,311   12,493      
Equity Method Investments 750,874       750,874   749,645      
Other Assets, Noncurrent 2,721       2,721   6,268      
Total assets 774,254       774,254   795,889      
Short-term debt 456       456   419      
Accounts payable 4,532       4,532   1,447      
Other current liabilities 16,345       16,345   22,065      
Total current liabilities 21,333       21,333   23,931      
Long-term debt 437,903       437,903   396,700      
Liabilities, Other than Long-term Debt, Noncurrent 5,123       5,123   9,268      
Intercompany Accounts, Net 17,379       17,379   77,363      
Redeemable noncontrolling interest 0       0   0      
Stockholders' Equity Attributable to Parent 292,516       292,516   288,627      
Stockholders' Equity Attributable to Noncontrolling Interest 0       0   0      
Total liabilities and equity 774,254       774,254   795,889      
Statement of Cash Flows [Abstract]                    
Net cash provided by (used for) operating activities         (16,658) (24,585)        
Capital expenditures         (21) (83)        
Payment related to redeemable noncontrolling interest agreement (41,000)                  
Payments for (Proceeds from) Other Investing Activities         0 220        
Net cash provided by (used for) investing activities         (41,021) 137        
Proceeds from borrowings         (50,000) 0        
Repayments of Other Debt         (9,000) 0        
Payments of Dividends, Common Stock         (599) (598)        
Net cash provided by (used for) financing activities         40,401 (598)        
Effect of Exchange Rate on Cash and Cash Equivalents         0 0        
Cash and Cash Equivalents, Period Increase (Decrease)         (17,278) (25,046)        
Cash and cash equivalents 6,352   34,694   6,352 34,694 23,630 59,740    
Guarantor Subsidiaries [Member]                    
Income Statement [Abstract]                    
Revenue from Contract with Customer, Excluding Assessed Tax 111,162   166,757   235,943 337,517        
Cost of sales 99,275   140,208   205,791 281,738        
Gross profit (loss) 11,887   26,549   30,152 55,779        
Selling, General and Administrative Expense 11,596   16,985   23,204 32,260        
Research and Development Expense 756   983   1,585 1,969        
Royalty expense 1,073   940   2,145 2,453        
Income (loss) from operations (1,538)   7,641   3,218 19,097        
Interest expense 0   0   0 0        
Intercompany Interest Expense Income 880   909   1,890 1,922        
Foreign Currency Transaction Gain (Loss), before Tax 55   (662)   (4) (670)        
Other income (expense) 798   147   1,077 313        
(Loss) income before income taxes (1,401)   7,741   4,027 20,036        
(Benefit) provision for income taxes 132   3,044   283 7,304        
Equity in Net Earnings (Loss) of Subsidiaries 0   0   0 0        
Net income (loss) (1,533)   4,697   3,744 12,732        
Net (loss) income attributable to noncontrolling interests 0   0   0 0        
Net income (loss) attributable to Titan (1,533)   4,697   3,744 12,732        
Comprehensive Income Statement [Abstract]                    
Net income (loss) (1,533)   4,697   3,744 12,732        
Currency translation adjustment 0   0   0 0        
Pension liability adjustments, net of tax 753   646   1,506 1,292        
Comprehensive income (loss) (780)   5,343   5,250 14,024        
Net comprehensive income (loss) attributable to redeemable and noncontrolling interests 0   0   0 0        
Comprehensive income (loss) attributable to Titan (780)   5,343   5,250 14,024        
Statement of Financial Position [Abstract]                    
Cash and cash equivalents 3   5   3 5 4 13    
Accounts Receivable, Net, Current 73       73   0      
Inventory, Net 55,796       55,796   68,858      
Prepaid Expense and Other Assets, Current 17,740       17,740   18,845      
Total current assets 73,612       73,612   87,707      
Property, Plant and Equipment, Net 94,374       94,374   98,856      
Equity Method Investments 0       0   0      
Other Assets, Noncurrent 4,970       4,970   944      
Total assets 172,956       172,956   187,507      
Short-term debt 0       0   0      
Accounts payable 27,947       27,947   29,922      
Other current liabilities 21,026       21,026   20,051      
Total current liabilities 48,973       48,973   49,973      
Long-term debt 0       0   0      
Liabilities, Other than Long-term Debt, Noncurrent 19,597       19,597   17,521      
Intercompany Accounts, Net (407,724)       (407,724)   (390,382)      
Redeemable noncontrolling interest 0       0   0      
Stockholders' Equity Attributable to Parent 512,110       512,110   510,395      
Stockholders' Equity Attributable to Noncontrolling Interest 0       0   0      
Total liabilities and equity 172,956       172,956   187,507      
Statement of Cash Flows [Abstract]                    
Net cash provided by (used for) operating activities         4,213 3,265        
Capital expenditures         (4,396) (3,274)        
Payment related to redeemable noncontrolling interest agreement 0                  
Payments for (Proceeds from) Other Investing Activities         182 1        
Net cash provided by (used for) investing activities         (4,214) (3,273)        
Proceeds from borrowings         0 0        
Repayments of Other Debt         0 0        
Payments of Dividends, Common Stock         0 0        
Net cash provided by (used for) financing activities         0 0        
Effect of Exchange Rate on Cash and Cash Equivalents         0 0        
Cash and Cash Equivalents, Period Increase (Decrease)         (1) (8)        
Cash and cash equivalents 3   5   3 5 4 13    
Non-Guarantor Subsidiaries [Member]                    
Income Statement [Abstract]                    
Revenue from Contract with Customer, Excluding Assessed Tax 391,301   262,147   801,576 516,769        
Cost of sales 364,891   230,246   748,015 454,429        
Gross profit (loss) 26,410   31,901   53,561 62,340        
Selling, General and Administrative Expense 22,120   15,297   45,266 33,466        
Research and Development Expense 1,560   1,518   3,084 3,169        
Royalty expense 974   1,066   1,845 1,963        
Income (loss) from operations 1,756   14,020   3,366 23,742        
Interest expense (1,052)   (846)   (2,058) (1,551)        
Intercompany Interest Expense Income (1,524)   (1,537)   (3,164) (3,173)        
Foreign Currency Transaction Gain (Loss), before Tax (1,310)   (2,948)   4,510 (7,372)        
Other income (expense) (2,255)   (1,665)   (3,199) (3,912)        
(Loss) income before income taxes 125   10,354   5,853 15,558        
(Benefit) provision for income taxes 4,326   1,029   5,440 6,049        
Equity in Net Earnings (Loss) of Subsidiaries (205)   209   531 4,546        
Net income (loss) (4,406)   9,534   944 14,055        
Net (loss) income attributable to noncontrolling interests (253)   40   (1,224) (1,639)        
Net income (loss) attributable to Titan (4,153)   9,494   2,168 15,694        
Comprehensive Income Statement [Abstract]                    
Net income (loss) (4,406)   9,534   944 14,055        
Currency translation adjustment 5,423   (38,338)   1,044 (30,276)        
Pension liability adjustments, net of tax (215)   44   (502) 281        
Comprehensive income (loss) 802   (28,760)   1,486 (15,940)        
Net comprehensive income (loss) attributable to redeemable and noncontrolling interests 385   (2,185)   317 (3,225)        
Comprehensive income (loss) attributable to Titan 417   (26,575)   1,169 (12,715)        
Statement of Financial Position [Abstract]                    
Cash and cash equivalents 60,011   71,792   60,011 71,792 58,051 83,817    
Accounts Receivable, Net, Current 271,933       271,933   241,832      
Inventory, Net 329,572       329,572   326,877      
Prepaid Expense and Other Assets, Current 41,737       41,737   37,531      
Total current assets 703,253       703,253   664,291      
Property, Plant and Equipment, Net 270,312       270,312   273,523      
Equity Method Investments 65,574       65,574   66,308      
Other Assets, Noncurrent 99,627       99,627   79,691      
Total assets 1,138,766       1,138,766   1,083,813      
Short-term debt 70,910       70,910   51,466      
Accounts payable 176,943       176,943   180,760      
Other current liabilities 74,463       74,463   68,938      
Total current liabilities 322,316       322,316   301,164      
Long-term debt 7,485       7,485   12,872      
Liabilities, Other than Long-term Debt, Noncurrent 63,190       63,190   49,917      
Intercompany Accounts, Net 390,345       390,345   313,019      
Redeemable noncontrolling interest 55,517       55,517   119,813      
Stockholders' Equity Attributable to Parent 294,756       294,756   295,979      
Stockholders' Equity Attributable to Noncontrolling Interest 5,157       5,157   (8,951)      
Total liabilities and equity 1,138,766       1,138,766   1,083,813      
Statement of Cash Flows [Abstract]                    
Net cash provided by (used for) operating activities         2,444 (8,607)        
Capital expenditures         (12,308) (15,059)        
Payment related to redeemable noncontrolling interest agreement 0                  
Payments for (Proceeds from) Other Investing Activities         1,053 663        
Net cash provided by (used for) investing activities         (11,255) (14,396)        
Proceeds from borrowings         42,723 40,078        
Repayments of Other Debt         (33,083) (24,527)        
Payments of Dividends, Common Stock         0 0        
Net cash provided by (used for) financing activities         9,640 15,551        
Effect of Exchange Rate on Cash and Cash Equivalents         1,131 (4,573)        
Cash and Cash Equivalents, Period Increase (Decrease)         1,960 (12,025)        
Cash and cash equivalents 60,011   71,792   60,011 71,792 58,051 $ 83,817    
Consolidation, Eliminations [Member]                    
Income Statement [Abstract]                    
Revenue from Contract with Customer, Excluding Assessed Tax (111,866)   0   (236,548) 0        
Cost of sales (111,866)   0   (236,548) 0        
Gross profit (loss) 0   0   0 0        
Selling, General and Administrative Expense 0   0   0 0        
Research and Development Expense 0   0   0 0        
Royalty expense 0   0   0 0        
Income (loss) from operations 0   0   0 0        
Interest expense 0   0   0 0        
Intercompany Interest Expense Income 0   0   0 0        
Foreign Currency Transaction Gain (Loss), before Tax 0   0   0 0        
Other income (expense) 0   0   0 0        
(Loss) income before income taxes 0   0   0 0        
(Benefit) provision for income taxes 0   0   0 0        
Equity in Net Earnings (Loss) of Subsidiaries 5,939   (14,231)   (4,688) (26,787)        
Net income (loss) 5,939   (14,231)   (4,688) (26,787)        
Net (loss) income attributable to noncontrolling interests 0   0   0 0        
Net income (loss) attributable to Titan 5,939   (14,231)   (4,688) (26,787)        
Comprehensive Income Statement [Abstract]                    
Net income (loss) 5,939   (14,231)   (4,688) (26,787)        
Currency translation adjustment (5,423)   38,338   (1,044) 30,276        
Pension liability adjustments, net of tax (538)   (690)   (1,004) (1,573)        
Comprehensive income (loss) (22)   23,417   (6,736) 1,916        
Net comprehensive income (loss) attributable to redeemable and noncontrolling interests 0   0   0 0        
Comprehensive income (loss) attributable to Titan (22)   $ 23,417   (6,736) $ 1,916        
Statement of Financial Position [Abstract]                    
Cash and cash equivalents 0       0   0      
Accounts Receivable, Net, Current 0       0   0      
Inventory, Net 0       0   0      
Prepaid Expense and Other Assets, Current 0       0   0      
Total current assets 0       0   0      
Property, Plant and Equipment, Net 0       0   0      
Equity Method Investments (816,448)       (816,448)   (815,953)      
Other Assets, Noncurrent 0       0   0      
Total assets (816,448)       (816,448)   (815,953)      
Short-term debt 0       0   0      
Accounts payable 0       0   0      
Other current liabilities 0       0   0      
Total current liabilities 0       0   0      
Long-term debt 0       0   0      
Liabilities, Other than Long-term Debt, Noncurrent 0       0   0      
Intercompany Accounts, Net 0       0   0      
Redeemable noncontrolling interest 0       0   0      
Stockholders' Equity Attributable to Parent (816,448)       (816,448)   (815,953)      
Stockholders' Equity Attributable to Noncontrolling Interest 0       0   0      
Total liabilities and equity (816,448)       (816,448)   (815,953)      
Statement of Cash Flows [Abstract]                    
Cash and cash equivalents $ 0       $ 0   $ 0