Condensed Financial Information of Parent Company Only Disclosure [Text Block] | SUBSIDIARY GUARANTOR FINANCIAL INFORMATION The Company's 6.50% senior secured notes due 2023 are guaranteed by the following 100% 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. The following condensed consolidating financial statements are presented using the equity method of accounting. Certain sales & marketing expenses recorded by non-guarantor subsidiaries have not been allocated to the guarantor subsidiaries. (Amounts in thousands) Consolidating Condensed Statements of Operations Year Ended December 31, 2019 Titan Intl., Inc. (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 590,201 $ 1,449,876 $ (591,411 ) $ 1,448,666 Cost of sales 260 550,438 1,360,375 (591,411 ) 1,319,662 Gross (loss) profit (260 ) 39,763 89,501 — 129,004 Selling, general, and administrative expenses 6,332 46,780 84,585 — 137,697 Research and development expenses 1,045 2,920 5,894 — 9,859 Royalty expense 2,766 3,575 3,539 — 9,880 (Loss) income from operations (10,403 ) (13,512 ) (4,517 ) — (28,432 ) Interest expense (28,741 ) (10 ) (4,386 ) — (33,137 ) Intercompany interest income (expense) 2,697 3,501 (6,198 ) — — Foreign exchange loss (61 ) (67 ) 4,127 — 3,999 Other income (expense) 1,922 (2,163 ) 9,767 — 9,526 Loss before income taxes (34,586 ) (12,251 ) (1,207 ) — (48,044 ) (Benefit) provision for income taxes (3,665 ) 525 6,615 — 3,475 Equity in (loss) earnings of subsidiaries (20,598 ) — (8,767 ) 29,365 — Net (loss) income (51,519 ) (12,776 ) (16,589 ) 29,365 (51,519 ) Net loss noncontrolling interests — — (3,094 ) — (3,094 ) Net (loss) income attributable to Titan $ (51,519 ) $ (12,776 ) $ (13,495 ) $ 29,365 $ (48,425 ) (Amounts in thousands) Consolidating Condensed Statements of Operations Year Ended December 31, 2018 Titan Intl., Inc. (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 588,080 $ 1,263,589 $ (249,261 ) $ 1,602,408 Cost of sales (512 ) 505,883 1,148,032 (249,261 ) 1,404,142 Gross profit (loss) 512 82,197 115,557 — 198,266 Selling, general, and administrative expenses 4,957 54,612 75,220 — 134,789 Research and development expenses 1,113 3,733 6,300 — 11,146 Royalty expense 2,128 4,026 3,933 — 10,087 (Loss) income from operations (7,686 ) 19,826 30,104 — 42,244 Interest expense (27,299 ) — (3,157 ) — (30,456 ) Intercompany interest income (expense) 2,517 3,695 (6,212 ) — — Foreign exchange loss — (653 ) (10,526 ) — (11,179 ) Other income (loss) 12,720 (476 ) 6,954 — 19,198 (Loss) income before income taxes (19,748 ) 22,392 17,163 — 19,807 (Benefit) provision for income taxes (10,802 ) 9,754 7,810 — 6,762 Equity in earnings (loss) of subsidiaries 21,991 — (2,008 ) (19,983 ) — Net income (loss) 13,045 12,638 7,345 (19,983 ) 13,045 Net loss noncontrolling interests — — (3,042 ) — (3,042 ) Net income (loss) attributable to Titan $ 13,045 $ 12,638 $ 10,387 $ (19,983 ) $ 16,087 (Amounts in thousands) Consolidating Condensed Statements of Operations Year Ended December 31, 2017 Titan Intl., Inc. (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 567,830 $ 901,092 $ — $ 1,468,922 Cost of sales 362 494,775 803,557 — 1,298,694 Asset impairment — — 9,917 — 9,917 Gross (loss) profit (362 ) 73,055 87,618 — 160,311 Selling, general, and administrative expenses 14,218 59,769 76,689 — 150,676 Research and development expenses — 3,685 6,617 — 10,302 Royalty expense 1,178 5,703 3,603 — 10,484 (Loss) income from operations (15,758 ) 3,898 709 — (11,151 ) Interest expense (29,182 ) — (1,047 ) — (30,229 ) Loss on senior note repurchase (18,646 ) — — — (18,646 ) Intercompany interest income (expense) 2,412 3,937 (6,349 ) — — Foreign exchange gain (2 ) (100 ) (1,856 ) — (1,958 ) Other income (loss) 4,623 (1,342 ) 5,827 — 9,108 (Loss) income before income taxes (56,553 ) 6,393 (2,716 ) — (52,876 ) (Benefit) provision for income taxes (1,446 ) 4,173 8,476 — 11,203 Equity in (loss) earnings of subsidiaries (8,972 ) — (8,400 ) 17,372 — Net (loss) income (64,079 ) 2,220 (19,592 ) 17,372 (64,079 ) Net loss noncontrolling interests — — (4,037 ) — (4,037 ) Net (loss) income attributable to Titan $ (64,079 ) $ 2,220 $ (15,555 ) $ 17,372 $ (60,042 ) (Amounts in thousands) Consolidating Condensed Statements of Comprehensive Income (Loss) For the Year Ended December 31, 2019 Titan Intl., Inc. (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net (loss) income $ (51,519 ) $ (12,776 ) $ (16,589 ) $ 29,365 $ (51,519 ) Currency translation adjustment, net (8,949 ) — (8,949 ) 8,949 (8,949 ) Pension liability adjustments, net of tax 6,566 6,189 377 (6,566 ) 6,566 Comprehensive (loss) income (53,902 ) (6,587 ) (25,161 ) 31,748 (53,902 ) Net comprehensive loss attributable to noncontrolling interests — — (1,533 ) — (1,533 ) Comprehensive (loss) income attributable to Titan $ (53,902 ) $ (6,587 ) $ (23,628 ) $ 31,748 $ (52,369 ) (Amounts in thousands) Consolidating Condensed Statements of Comprehensive Income (Loss) For the Year Ended December 31, 2018 Titan Intl., Inc. (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net income (loss) $ 13,045 $ 12,638 $ 7,345 $ (19,983 ) $ 13,045 Currency translation adjustment, net (41,966 ) — (41,966 ) 41,966 (41,966 ) Pension liability adjustments, net of tax (3,650 ) (3,765 ) 115 3,650 (3,650 ) Comprehensive (loss) income (32,571 ) 8,873 (34,506 ) 25,633 (32,571 ) Net comprehensive loss attributable to noncontrolling interests — — (6,488 ) — (6,488 ) Comprehensive (loss) income attributable to Titan $ (32,571 ) $ 8,873 $ (28,018 ) $ 25,633 $ (26,083 ) (Amounts in thousands) Consolidating Condensed Statements of Comprehensive Income (Loss) For the Year Ended December 31, 2017 Titan Intl., Inc. (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net (loss) income $ (64,079 ) $ 2,220 $ (19,592 ) $ 17,372 $ (64,079 ) Currency translation adjustment, net 30,818 — 30,818 (30,818 ) 30,818 Pension liability adjustments, net of tax 1,523 1,807 (284 ) (1,523 ) 1,523 Comprehensive (loss) income (31,738 ) 4,027 10,942 (14,969 ) (31,738 ) Net comprehensive income attributable to noncontrolling interests — — (2,898 ) — (2,898 ) Comprehensive (loss) income attributable to Titan $ (31,738 ) $ 4,027 $ 13,840 $ (14,969 ) $ (28,840 ) (Amounts in thousands) Consolidating Condensed 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 — 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 long-term 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 Stockholders’ 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 stockholders' equity 275,819 500,330 283,057 (824,355 ) 234,851 Noncontrolling interests — — 4,137 — 4,137 Total liabilities and stockholders’ equity $ 783,447 $ 154,391 $ 1,000,824 $ (824,355 ) $ 1,114,307 (Amounts in thousands) Consolidating Condensed Balance Sheets December 31, 2018 Titan Intl., Inc. (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Cash and cash equivalents $ 23,630 $ 4 $ 58,051 $ — $ 81,685 Accounts receivable — — 241,832 — 241,832 Inventories — 68,858 326,877 — 395,735 Prepaid and other current assets 3,853 18,845 37,531 — 60,229 Total current assets 27,483 87,707 664,291 — 779,481 Property, plant, and equipment, net 12,493 98,856 273,523 — 384,872 Investment in subsidiaries 749,645 — 66,308 (815,953 ) — Other long-term assets 6,268 944 79,691 — 86,903 Total assets $ 795,889 $ 187,507 $ 1,083,813 $ (815,953 ) $ 1,251,256 Liabilities and Stockholders’ Equity Short-term debt $ 419 $ — $ 51,466 $ — $ 51,885 Accounts payable 1,447 29,922 180,760 — 212,129 Other current liabilities 22,065 20,051 68,938 — 111,054 Total current liabilities 23,931 49,973 301,164 — 375,068 Long-term debt 396,700 — 12,872 — 409,572 Other long-term liabilities 9,268 17,521 49,917 — 76,706 Intercompany accounts 77,363 (390,382 ) 313,019 — — Redeemable noncontrolling interest — — 119,813 — 119,813 Titan stockholders’ equity 288,627 510,395 295,979 (815,953 ) 279,048 Noncontrolling interests — — (8,951 ) — (8,951 ) Total liabilities and stockholders’ equity $ 795,889 $ 187,507 $ 1,083,813 $ (815,953 ) $ 1,251,256 (Amounts in thousands) Consolidating Condensed Statements of Cash Flows Year Ended December 31, 2019 Titan Intl., Inc. (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidated Net cash provided by operating activities $ 16,282 $ 8,621 $ 20,539 $ 45,442 Cash flows from investing activities: Capital expenditures (21 ) (9,079 ) (27,314 ) (36,414 ) Sale of Wheels India shares — — 19,021 19,021 Payments related to redeemable noncontrolling interest (71,722 ) — — (71,722 ) Other, net — 188 (3,664 ) (3,476 ) Net cash used for investing activities (71,743 ) (8,891 ) (11,957 ) (92,591 ) Cash flows from financing activities: Proceeds from borrowings 73,000 287 60,940 134,227 Payment on debt (37,122 ) (17 ) (63,762 ) (100,901 ) Dividends paid (1,204 ) — — (1,204 ) Net cash provided by (used for) financing activities 34,674 270 (2,822 ) 32,122 Effect of exchange rate change on cash — — 141 141 Net (decrease) increase in cash and cash equivalents (20,787 ) — 5,901 (14,886 ) Cash and cash equivalents, beginning of period 23,630 4 58,051 81,685 Cash and cash equivalents, end of period $ 2,843 $ 4 $ 63,952 $ 66,799 (Amounts in thousands) Consolidating Condensed Statements of Cash Flows Year Ended December 31, 2018 Titan Intl., Inc. (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidated Net cash (used for) provided by operating activities $ (34,764 ) $ 6,143 $ (7,555 ) $ (36,176 ) Cash flows from investing activities: Capital expenditures (939 ) (6,174 ) (31,887 ) (39,000 ) Other, net 794 22 1,253 2,069 Net cash used for investing activities (145 ) (6,152 ) (30,634 ) (36,931 ) Cash flows from financing activities: Proceeds from borrowings — — 57,294 57,294 Payment on debt — — (38,557 ) (38,557 ) Dividends paid (1,201 ) — — (1,201 ) Net cash (used for) provided by financing activities (1,201 ) — 18,737 17,536 Effect of exchange rate change on cash — — (6,314 ) (6,314 ) Net decrease in cash and cash equivalents (36,110 ) (9 ) (25,766 ) (61,885 ) Cash and cash equivalents, beginning of period 59,740 13 83,817 143,570 Cash and cash equivalents, end of period $ 23,630 $ 4 $ 58,051 $ 81,685 (Amounts in thousands) Consolidating Condensed Statements of Cash Flows Year Ended December 31, 2017 Titan Intl., Inc. (Parent) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidated Net cash (used for) provided by operating activities $ (49,856 ) $ 7,235 $ 41,332 $ (1,289 ) Cash flows from investing activities: Capital expenditures (830 ) (7,620 ) (24,176 ) (32,626 ) Increase in restricted cash deposits 50,000 — — 50,000 Other, net — 389 604 993 Net cash provided by (used for) investing activities 49,170 (7,231 ) (23,572 ) 18,367 Cash flows from financing activities: Proceeds from borrowings 394,191 — 53,448 447,639 Repurchase of senior notes (415,395 ) — — (415,395 ) Payment on debt (3,393 ) — (51,767 ) (55,160 ) Dividends paid (1,167 ) — — (1,167 ) Net cash (used for) provided by financing activities (25,764 ) — 1,681 (24,083 ) Effect of exchange rate change on cash — — 2,748 2,748 Net (decrease) increase in cash and cash equivalents (26,450 ) 4 22,189 (4,257 ) Cash and cash equivalents, beginning of period 86,190 9 61,628 147,827 Cash and cash equivalents, end of period $ 59,740 $ 13 $ 83,817 $ 143,570 |