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SUBSIDIARY GUARANTOR FINANCIAL INFORMATION (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2020
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	126,992		$	286,874		$	(127,733	)	$	286,133
Cost of sales	156			113,292			269,544			(127,733		)	255,259
Asset impairment	1,007			—			—			—			1,007
Gross (loss) profit	(1,163		)	13,700			17,330			—			29,867
Selling, general and administrative expenses	5,698			2,178			20,565			—			28,441
Research and development expenses	214			761			1,157			—			2,132
Royalty expense	927			774			694			—			2,395
(Loss) income from operations	(8,002		)	9,987			(5,086		)	—			(3,101		)
Interest expense	(7,103		)	(9		)	(896		)	—			(8,008		)
Intercompany interest income (expense)	529			528			(1,057		)	—			—
Foreign exchange loss	—			(136		)	8,972			—			8,836
Other income (expense)	395			(111		)	(674		)	—			(390		)
(Loss) income before income taxes	(14,181		)	10,259			1,259			—			(2,663		)
Provision for income taxes	(1,447		)	79			3,348			—			1,980
Equity in earnings of subsidiaries	8,091			—			6,557			(14,648		)	—
Net (loss) income	(4,643		)	10,180			4,468			(14,648		)	(4,643		)
Net loss attributable to noncontrolling interests	—			—			402			—			402
Net (loss) income attributable to Titan	$	(4,643	)	$	10,180		$	4,066		$	(14,648	)	$	(5,045	)



(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Three Months Ended June 30, 2019
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	111,162		$	391,301		$	(111,866	)	$	390,597
Cost of sales	(11		)	99,275			364,891			(111,866		)	352,289
Gross profit	11			11,887			26,410			—			38,308
Selling, general and administrative expenses	2,030			11,596			22,120			—			35,746
Research and development expenses	228			756			1,560			—			2,544
Royalty expense	401			1,073			974			—			2,448
(Loss) income from operations	(2,648		)	(1,538		)	1,756			—			(2,430		)
Interest expense	(7,243		)	—			(1,052		)	—			(8,295		)
Intercompany interest income (expense)	644			880			(1,524		)	—			—
Foreign exchange (loss) gain	16			55			(1,310		)	—			(1,239		)
Other income (expense)	612			(798		)	2,255			—			2,069
(Loss) income before income taxes	(8,619		)	(1,401		)	125			—			(9,895		)
Provision for income taxes	(7,676		)	132			4,326			—			(3,218		)
Equity in earnings of subsidiaries	(5,734		)	—			(205		)	5,939			—
Net income (loss)	(6,677		)	(1,533		)	(4,406		)	5,939			(6,677		)
Net loss attributable to noncontrolling interests	—			—			(253		)	—			(253		)
Net income (loss) attributable to Titan	$	(6,677	)	$	(1,533	)	$	(4,153	)	$	5,939		$	(6,424	)



(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Six Months Ended June 30, 2020
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	286,960		$	628,560		$	(287,887	)	$	627,633
Cost of sales	322			258,842			595,659			(287,887		)	566,936
Asset impairment	1,007			—			2,579			—			3,586
Gross (loss) profit	(1,329		)	28,118			30,322			—			57,111
Selling, general and administrative expenses	11,339			4,144			44,915			—			60,398
Research and development expenses	454			1,470			2,618			—			4,542
Royalty expense	1,493			1,839			1,543			—			4,875
(Loss) income from operations	(14,615		)	20,665			(18,754		)	—			(12,704		)
Interest expense	(14,264		)	(15		)	(1,764		)	—			(16,043		)
Intercompany interest income (expense)	1,060			1,179			(2,239		)	—			—
Foreign exchange loss	—			(882		)	(7,524		)	—			(8,406		)
Other income (expense)	1,017			(261		)	6,290			—			7,046
(Loss) income before income taxes	(26,802		)	20,686			(23,991		)	—			(30,107		)
Provision for income taxes	(1,912		)	177			3,770			—			2,035
Equity in earnings of subsidiaries	(7,252		)	—			14,070			(6,818		)	—
Net (loss) income	(32,142		)	20,509			(13,691		)	(6,818		)	(32,142		)
Net loss attributable to noncontrolling interests	—			—			(1,611		)	—			(1,611		)
Net (loss) income attributable to Titan	$	(32,142	)	$	20,509		$	(12,080	)	$	(6,818	)	$	(30,531	)



(Amounts in thousands)	Condensed Consolidating Statements of Operations For the Six Months Ended June 30, 2019
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	235,943		$	801,576		$	(236,548	)	$	800,971
Cost of sales	141			205,791			748,015			(236,548		)	717,399
Gross (loss) profit	(141		)	30,152			53,561			—			83,572
Selling, general and administrative expenses	3,181			23,204			45,266			—			71,651
Research and development expenses	492			1,585			3,084			—			5,161
Royalty expense	1,064			2,145			1,845			—			5,054
(Loss) income from operations	(4,878		)	3,218			3,366			—			1,706
Interest expense	(14,170		)	—			(2,058		)	—			(16,228		)
Intercompany interest income (expense)	1,274			1,890			(3,164		)	—			—
Foreign exchange loss	(22		)	(4		)	4,510			—			4,484
Other income (expense)	943			(1,077		)	3,199			—			3,065
(Loss) income before income taxes	(16,853		)	4,027			5,853			—			(6,973		)
Provision for income taxes	(7,026		)	283			5,440			—			(1,303		)
Equity in earnings of subsidiaries	4,157			—			531			(4,688		)	—
Net (loss) income	(5,670		)	3,744			944			(4,688		)	(5,670		)
Net loss attributable to noncontrolling interests	—			—			(1,224		)	—			(1,224		)
Net (loss) income attributable to Titan	$	(5,670	)	$	3,744		$	2,168		$	(4,688	)	$	(4,446	)



(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Loss For the Three Months Ended June 30, 2020
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net (loss) income	$	(4,643	)	$	10,180	$	4,468		$	(14,648	)	$	(4,643	)
Derivative loss	(198		)	—		(198		)	198			(198		)
Currency translation adjustment	1,014			—		1,014			(1,014		)	1,014
Pension liability adjustments, net of tax	40			667		(627		)	(40		)	40
Comprehensive (loss) income	(3,787		)	10,847		4,657			(15,504		)	(3,787		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		893			—			893
Comprehensive (loss) income attributable to Titan	$	(3,787	)	$	10,847	$	3,764		$	(15,504	)	$	(4,680	)

Condensed Statement of Comprehensive Income [Table Text Block]



(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Loss For the Three Months Ended June 30, 2020
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net (loss) income	$	(4,643	)	$	10,180	$	4,468		$	(14,648	)	$	(4,643	)
Derivative loss	(198		)	—		(198		)	198			(198		)
Currency translation adjustment	1,014			—		1,014			(1,014		)	1,014
Pension liability adjustments, net of tax	40			667		(627		)	(40		)	40
Comprehensive (loss) income	(3,787		)	10,847		4,657			(15,504		)	(3,787		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		893			—			893
Comprehensive (loss) income attributable to Titan	$	(3,787	)	$	10,847	$	3,764		$	(15,504	)	$	(4,680	)



(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Loss For the Three Months Ended June 30, 2019
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	(6,677	)	$	(1,533	)	$	(4,406	)	$	5,939		$	(6,677	)
Currency translation adjustment	5,423			—			5,423			(5,423		)	5,423
Pension liability adjustments, net of tax	538			753			(215		)	(538		)	538
Comprehensive (loss) income	(716		)	(780		)	802			(22		)	(716		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—			385			—			385
Comprehensive (loss) income attributable to Titan	$	(716	)	$	(780	)	$	417		$	(22	)	$	(1,101	)



(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Loss For the Six Months Ended June 30, 2020
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	(32,142	)	$	20,509	$	(13,691	)	$	(6,818	)	$	(32,142	)
Derivative loss	(198		)	—		(198		)	198			(198		)
Currency translation adjustment	(32,772		)	—		(32,772		)	32,772			(32,772		)
Pension liability adjustments, net of tax	1,348			1,334		14			(1,348		)	1,348
Comprehensive (loss) income	(63,764		)	21,843		(46,647		)	24,804			(63,764		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		(2,902		)	—			(2,902		)
Comprehensive (loss) income attributable to Titan	$	(63,764	)	$	21,843	$	(43,745	)	$	24,804		$	(60,862	)



(Amounts in thousands)	Condensed Consolidating Statements of Comprehensive Loss For the Six Months Ended June 30, 2019
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	(5,670	)	$	3,744	$	944		$	(4,688	)	$	(5,670	)
Currency translation adjustment	1,044			—		1,044			(1,044		)	1,044
Pension liability adjustments, net of tax	1,004			1,506		(502		)	(1,004		)	1,004
Comprehensive (loss) income	(3,622		)	5,250		1,486			(6,736		)	(3,622		)
Net comprehensive loss attributable to redeemable and noncontrolling interests	—			—		317			—			317
Comprehensive (loss) income attributable to Titan	$	(3,622	)	$	5,250	$	1,169		$	(6,736	)	$	(3,939	)

Condensed Balance Sheet [Table Text Block]



(Amounts in thousands)	Condensed Consolidating Balance Sheets June 30, 2020
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	911		$	4		$	79,245	$	—		$	80,160
Accounts receivable, net	—			—			192,410		—			192,410
Inventories	(1,007		)	30,040			265,504		—			294,537
Prepaid and other current assets	3,247			16,724			54,123		—			74,094
Total current assets	3,151			46,768			591,282		—			641,201
Property, plant and equipment, net	9,675			86,733			241,238		—			337,646
Investment in subsidiaries	727,559			—			76,936		(804,495		)	—
Other assets	2,015			4,863			45,569		—			52,447
Total assets	$	742,400		$	138,364		$	955,025	$	(804,495	)	$	1,031,294
Liabilities and Equity
Short-term debt	$	617		$	174		$	39,993	$	—		$	40,784
Accounts payable	2,044			20,995			113,763		—			136,802
Other current liabilities	24,387			21,226			75,372		—			120,985
Total current liabilities	27,048			42,395			229,128		—			298,571
Long-term debt	425,576			384			36,280		—			462,240
Other long-term liabilities	1,453			14,583			52,790		—			68,826
Intercompany accounts	71,986			(441,171		)	369,185		—			—
Redeemable noncontrolling interest	—			—			25,000		—			25,000
Titan shareholders' equity	216,337			522,173			241,358		(804,495		)	175,373
Noncontrolling interests	—			—			1,284		—			1,284
Total liabilities and equity	$	742,400		$	138,364		$	955,025	$	(804,495	)	$	1,031,294



(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 Six Months Ended June 30, 2020
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash provided by (used for) operating activities	$	6,494		$	2,112		$	(3,105	)	$	5,501
Cash flows from investing activities:
Capital expenditures	—			(2,400		)	(6,002		)	(8,402		)
Sale of Wheels India Limited shares	—			—			15,722			15,722
Insurance proceeds	—			—			4,936			4,936
Other, net	191			—			(549		)	(358		)
Net cash (used for) provided by investing activities	191			(2,400		)	14,107			11,898
Cash flows from financing activities:
Proceeds from borrowings	31,264			333			45,201			76,798
Payment on debt	(39,278		)	(45		)	(34,688		)	(74,011		)
Dividends paid	(603		)	—			—			(603		)
Other financing activities	—			—			608			608
Net cash (used for) provided by financing activities	(8,617		)	288			11,121			2,792
Effect of exchange rate change on cash	—			—			(6,830		)	(6,830		)
Net increase (decrease) in cash and cash equivalents	(1,932		)	—			15,293			13,361
Cash and cash equivalents, beginning of period	2,843			4			63,952			66,799
Cash and cash equivalents, end of period	$	911		$	4		$	79,245		$	80,160



(Amounts in thousands)	Condensed Consolidating Statements of Cash Flows For the Six Months Ended June 30, 2019
	Titan Intl., Inc. (Parent)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash (used for) provided by operating activities	$	(16,658	)	$	4,213		$	2,444		$	(10,001	)
Cash flows from investing activities:
Capital expenditures	(21		)	(4,396		)	(12,308		)	(16,725		)
Payment related to redeemable noncontrolling interest agreement	(41,000		)	—			—			(41,000		)
Other, net	—			182			1,053			1,235
Net cash used for investing activities	(41,021		)	(4,214		)	(11,255		)	(56,490		)
Cash flows from financing activities:
Proceeds from borrowings	50,000			—			42,723			92,723
Payment on debt	(9,000		)	—			(33,083		)	(42,083		)
Dividends paid	(599		)	—			—			(599		)
Net cash provided by financing activities	40,401			—			9,640			50,041
Effect of exchange rate change on cash	—			—			1,131			1,131
Net increase (decrease) in cash and cash equivalents	(17,278		)	(1		)	1,960			(15,319		)
Cash and cash equivalents, beginning of period	23,630			4			58,051			81,685
Cash and cash equivalents, end of period	$	6,352		$	3		$	60,011		$	66,366