SUBSIDIARY GUARANTOR FINANCIAL INFORMATION (Tables)

3 Months Ended

Mar. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Income Statement [Table Text Block]



(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Three Months Ended March 31, 2020
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	159,969		$	341,685		$	(160,154	)	$	341,500
Cost of sales	166			145,550			326,115			(160,154		)	311,677
Asset impairment	—			—			2,579			—			2,579
Gross (loss) profit	(166		)	14,419			12,991			—			27,244
Selling, general and administrative expenses	5,641			1,966			24,350			—			31,957
Research and development expenses	241			709			1,460			—			2,410
Royalty expense	566			1,065			849			—			2,480
(Loss) income from operations	(6,614		)	10,679			(13,668		)	—			(9,603		)
Interest expense	(7,161		)	(6		)	(868		)	—			(8,035		)
Intercompany interest income (expense)	530			651			(1,181		)	—			—
Foreign exchange loss	—			(746		)	(16,496		)	—			(17,242		)
Other income (expense)	623			(150		)	6,963			—			7,436
(Loss) income before income taxes	(12,622		)	10,428			(25,250		)	—			(27,444		)
Provision for income taxes	(467		)	98			424			—			55
Equity in earnings of subsidiaries	(15,344		)	—			7,513			7,831			—
Net (loss) income	(27,499		)	10,330			(18,161		)	7,831			(27,499		)
Net loss attributable to noncontrolling interests	—			—			(2,013		)	—			(2,013		)
Net (loss) income attributable to Titan	$	(27,499	)	$	10,330		$	(16,148	)	$	7,831		$	(25,486	)



(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Three Months Ended March 31, 2019
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	124,781		$	410,275		$	(124,682	)	$	410,374
Cost of sales	152			106,516			383,124			(124,682		)	365,110
Gross (loss) profit	(152		)	18,265			27,151			—			45,264
Selling, general and administrative expenses	1,151			11,608			23,146			—			35,905
Research and development expenses	265			829			1,523			—			2,617
Royalty expense	663			1,072			871			—			2,606
(Loss) income from operations	(2,231		)	4,756			1,611			—			4,136
Interest expense	(6,927		)	—			(1,006		)	—			(7,933		)
Intercompany interest income (expense)	630			1,009			(1,639		)	—			—
Foreign exchange (loss) gain	(38		)	(60		)	5,821			—			5,723
Other income (expense)	330			(279		)	945			—			996
(Loss) income before income taxes	(8,236		)	5,426			5,732			—			2,922
Provision for income taxes	649			151			1,115			—			1,915
Equity in earnings of subsidiaries	9,891			—			736			(10,627		)	—
Net income (loss)	1,006			5,275			5,353			(10,627		)	1,007
Net loss attributable to noncontrolling interests	—			—			(970		)	—			(970		)
Net income (loss) attributable to Titan	$	1,006		$	5,275		$	6,323		$	(10,627	)	$	1,977



(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Three Months Ended March 31, 2020
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net (loss) income	$	(27,499	)	$	10,330	$	(18,161	)	$	7,831		$	(27,499	)
Currency translation adjustment	(33,786		)	—		(33,786		)	33,786			(33,786		)
Pension liability adjustments, net of tax	1,308			667		641			(1,308		)	1,308
Comprehensive (loss) income	(59,977		)	10,997		(51,306		)	40,309			(59,977		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		(3,796		)	—			(3,796		)
Comprehensive (loss) income attributable to Titan	$	(59,977	)	$	10,997	$	(47,510	)	$	40,309		$	(56,181	)

Condensed Statement of Comprehensive Income [Table Text Block]



(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Three Months Ended March 31, 2020
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net (loss) income	$	(27,499	)	$	10,330	$	(18,161	)	$	7,831		$	(27,499	)
Currency translation adjustment	(33,786		)	—		(33,786		)	33,786			(33,786		)
Pension liability adjustments, net of tax	1,308			667		641			(1,308		)	1,308
Comprehensive (loss) income	(59,977		)	10,997		(51,306		)	40,309			(59,977		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		(3,796		)	—			(3,796		)
Comprehensive (loss) income attributable to Titan	$	(59,977	)	$	10,997	$	(47,510	)	$	40,309		$	(56,181	)



(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Three Months Ended March 31, 2019
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	1,006		$	5,275	$	5,353		$	(10,627	)	$	1,007
Currency translation adjustment	(4,379		)	—		(4,379		)	4,379			(4,379		)
Pension liability adjustments, net of tax	466			753		(287		)	(466		)	466
Comprehensive (loss) income	(2,907		)	6,028		687			(6,714		)	(2,906		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		(68		)	—			(68		)
Comprehensive (loss) income attributable to Titan	$	(2,907	)	$	6,028	$	755		$	(6,714	)	$	(2,838	)

Condensed Balance Sheet [Table Text Block]



(Amounts in thousands)	Condensed Consolidating Balance Sheets March 31, 2020
	Titan Intl., Inc. (Parent)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	4,408	$	3		$	55,967		$	—		$	60,378
Accounts receivable, net	—		4			211,978			—			211,982
Inventories	—		38,260			267,811			—			306,071
Prepaid and other current assets	3,653		17,078			39,730			—			60,461
Total current assets	8,061		55,345			575,486			—			638,892
Property, plant and equipment, net	10,071		90,329			243,678			—			344,078
Investment in subsidiaries	719,502		—			68,965			(788,467		)	—
Other assets	1,779		3,816			71,689			—			77,284
Total assets	$	739,413	$	149,490		$	959,818		$	(788,467	)	$	1,060,254
Liabilities and Equity
Short-term debt	$	620	$	163		$	45,492		$	—		$	46,275
Accounts payable	3,124		28,647			148,162			—			179,933
Other current liabilities	29,173		21,237			65,334			—			115,744
Total current liabilities	32,917		50,047			258,988			—			341,952
Long-term debt	427,499		389			16,662			—			444,550
Other long-term liabilities	4,605		14,321			50,904			—			69,830
Intercompany accounts	54,286		(425,827		)	371,541			—			—
Redeemable noncontrolling interest	—		—			25,000			—			25,000
Titan shareholders' equity	220,106		510,560			236,940			(788,467		)	179,139
Noncontrolling interests	—		—			(217		)	—			(217		)
Total liabilities and equity	$	739,413	$	149,490		$	959,818		$	(788,467	)	$	1,060,254



(Amounts in thousands)	Condensed Consolidating Balance Sheets December 31, 2019
	Titan Intl., Inc. (Parent)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	2,843	$	4		$	63,952	$	—		$	66,799
Accounts receivable, net	—		2			185,236		—			185,238
Inventories	—		41,088			292,268		—			333,356
Prepaid and other current assets	3,217		17,352			38,300		—			58,869
Total current assets	6,060		58,446			579,756		—			644,262
Property, plant and equipment, net	10,646		91,734			272,418		—			374,798
Investment in subsidiaries	763,336		—			61,019		(824,355		)	—
Other assets	3,405		4,211			87,631		—			95,247
Total assets	$	783,447	$	154,391		$	1,000,824	$	(824,355	)	$	1,114,307
Liabilities and Equity
Short-term debt	$	514	$	69		$	60,670	$	—		$	61,253
Accounts payable	4,951		18,455			135,241		—			158,647
Other current liabilities	20,912		17,941			68,400		—			107,253
Total current liabilities	26,377		36,465			264,311		—			327,153
Long-term debt	433,242		201			9,906		—			443,349
Other long-term liabilities	5,211		15,242			59,364		—			79,817
Intercompany accounts	42,798		(397,847		)	355,049		—			—
Redeemable noncontrolling interest	—		—			25,000		—			25,000
Titan shareholders' equity	275,819		500,330			283,057		(824,355		)	234,851
Noncontrolling interests	—		—			4,137		—			4,137
Total liabilities and equity	$	783,447	$	154,391		$	1,000,824	$	(824,355	)	$	1,114,307

Condensed Cash Flow Statement [Table Text Block]



(Amounts in thousands)	Condensed Consolidating Statements of Cash Flows For the Three Months Ended March 31, 2020
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash provided by (used for) operating activities	$	7,552		$	1,901		$	(5,481	)	$	3,972
Cash flows from investing activities:
Capital expenditures	—			(2,149		)	(4,271		)	(6,420		)
Sale of Wheels India Limited shares	—			—			6,917			6,917
Insurance proceeds	—			—			4,936			4,936
Other, net	191			—			(557		)	(366		)
Net cash (used for) provided by investing activities	191			(2,149		)	7,025			5,067
Cash flows from financing activities:
Proceeds from borrowings	7,264			258			16,427			23,949
Payment on debt	(13,140		)	(11		)	(18,789		)	(31,940		)
Dividends paid	(302		)	—			—			(302		)
Net cash (used for) provided by financing activities	(6,178		)	247			(2,362		)	(8,293		)
Effect of exchange rate change on cash	—			—			(7,167		)	(7,167		)
Net increase (decrease) in cash and cash equivalents	1,565			(1		)	(7,985		)	(6,421		)
Cash and cash equivalents, beginning of period	2,843			4			63,952			66,799
Cash and cash equivalents, end of period	$	4,408		$	3		$	55,967		$	60,378



(Amounts in thousands)	Condensed Consolidating Statements of Cash Flows For the Three Months Ended March 31, 2019
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash (used for) provided by operating activities	$	(11,022	)	$	1,545		$	(6,142	)	$	(15,619	)
Cash flows from investing activities:
Capital expenditures	—			(1,700		)	(7,753		)	(9,453		)
Payment related to redeemable noncontrolling interest agreement	(25,000		)	—			—			(25,000		)
Other, net	—			154			40			194
Net cash used for investing activities	(25,000		)	(1,546		)	(7,713		)	(34,259		)
Cash flows from financing activities:
Proceeds from borrowings	25,000			—			27,398			52,398
Payment on debt	—			—			(15,357		)	(15,357		)
Dividends paid	(301		)	—			—			(301		)
Net cash provided by financing activities	24,699			—			12,041			36,740
Effect of exchange rate change on cash	—			—			(232		)	(232		)
Net increase (decrease) in cash and cash equivalents	(11,323		)	(1		)	(2,046		)	(13,370		)
Cash and cash equivalents, beginning of period	23,630			4			58,051			81,685
Cash and cash equivalents, end of period	$	12,307		$	3		$	56,005		$	68,315