XML 37 R26.htm IDEA: XBRL DOCUMENT v3.20.2
RELATED PARTY TRANSACTIONS
 6 Months Ended
Jun. 30, 2020
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 with which Mr. Fred Taylor is associated that do business with Titan include the following: Blacksmith 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 $0.2 million and $0.5 million for the three and six months ended June 30, 2020, respectively, and approximately $0.2 million and $0.5 million for the three and six months ended June 30, 2019, respectively. Titan had trade receivables due from these companies of approximately $0.2 million at June 30, 2020, and approximately $0.1 million at December 31, 2019.  Sales commissions paid to the above companies were approximately $0.4 million and $0.7 million for the three and six months ended June 30, 2020 as compared to $0.3 million and $0.8 million for the three and six months ended June 30, 2019.