Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | TITAN INTERNATIONAL INC |
Entity Central Index Key | 0000899751 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Year Summary compensation table for PEO Compensation actually paid to PEO Average summary compensation table for other NEOs Average compensation actually paid to other NEOs Value of initial fixed $100 investment made December 31, 2019 based on: Net income (loss) Adjusted EBITDA (in thousands, $) (e) TSR TSR of peer group 2022 3,310,256 5,068,537 1,147,329 1,624,920 424 155 179,186 252,969 2021 4,548,330 5,153,371 1,127,359 1,383,280 305 154 49,891 134,964 2020 3,044,867 3,248,102 1,230,715 1,375,640 139 119 (65,077) 54,030 | ||
Company Selected Measure Name | adjusted EBITDA | ||
Named Executive Officers, Footnote [Text Block] | Compensation actually paid to the principal executive officer (the “PEO”) is adjusted based on: (1) addition of the amount of change in fair value of any equity awards granted in the covered fiscal year that are outstanding and unvested as of the end of the covered fiscal year, (2) addition of the amount of change in fair value as of the end of the covered fiscal year (from the end of the prior fiscal year) of any awards granted in prior years that are outstanding and unvested as of the end of the covered fiscal year and (3) addition of the amount of change in fair value from the end of the prior fiscal year to the vesting date for awards granted in prior years that vest in the covered fiscal year. Mr. Reitz is the PEO for the years ended December 31, 2022, 2021 and 2020. For our NEOs other than our principal executive officer, the compensation reported is an average. Messrs. Martin, Troyanovich and Eheli are the other NEOs for the years ended December 31, 2022 and 2021. Messrs. Martin and Troyanovich are the other NEOs for the years ended December 31, 2020. | ||
Peer Group Issuers, Footnote [Text Block] | The peer group used for calculating Peer Group Total Shareholder Return is the same peer group used by the company for reviewing its compensation practices. | ||
PEO Total Compensation Amount | $ 3,310,256 | $ 4,548,330 | $ 3,044,867 |
PEO Actually Paid Compensation Amount | $ 5,068,537 | 5,153,371 | 3,248,102 |
Adjustment To PEO Compensation, Footnote [Text Block] | Year Summary compensation Change in Fair Value of Outstanding and Unvested Equity Awards Granted in the Current Year Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year Compensation actually paid PEO 2022 3,310,256 245,600 1,297,131 215,550 5,068,537 2021 4,548,330 163,105 278,135 163,801 5,153,371 2020 3,044,867 224,700 31,501 (52,966) 3,248,102 Average Other NEOs 2022 1,147,329 112,566 269,843 95,182 1,624,920 2021 1,127,359 63,210 125,822 66,889 1,383,280 2020 1,230,715 152,475 13,500 (21,050) 1,375,640 | ||
Non-PEO NEO Average Total Compensation Amount | $ 1,147,329 | 1,127,359 | 1,230,715 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 1,624,920 | 1,383,280 | 1,375,640 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Year Summary compensation Change in Fair Value of Outstanding and Unvested Equity Awards Granted in the Current Year Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year Compensation actually paid PEO 2022 3,310,256 245,600 1,297,131 215,550 5,068,537 2021 4,548,330 163,105 278,135 163,801 5,153,371 2020 3,044,867 224,700 31,501 (52,966) 3,248,102 Average Other NEOs 2022 1,147,329 112,566 269,843 95,182 1,624,920 2021 1,127,359 63,210 125,822 66,889 1,383,280 2020 1,230,715 152,475 13,500 (21,050) 1,375,640 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | The graphs below reflect the relationship between the compensation actually paid to our PEO, the average of the compensation actually paid to our remaining NEOs and the Company and the peer group’s cumulative indexed Total Shareholder Return, or TSR, (assuming an initial fixed investment of $100) for the years ended December 31, 2022, 2021 and 2020: | ||
Compensation Actually Paid vs. Net Income [Text Block] | The following graph compares the compensation actually paid to our PEO and the average of the compensation actually paid to our remaining NEOs with net income. | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | The following graph compares the compensation actually paid to our PEO and the average of the compensation actually paid to our remaining NEOs with adjusted EBITDA. The Company has chosen adjusted EBITDA as its sole measure used in linking compensation to financial performance. | ||
Total Shareholder Return Amount | $ 424 | 305 | 139 |
Peer Group Total Shareholder Return Amount | 155 | 154 | 119 |
Net Income (Loss) | $ 179,186,000 | $ 49,891,000 | $ (65,077,000) |
Company Selected Measure Amount | 252,969,000 | 134,964,000 | 54,030,000 |
PEO Name | Mr. Reitz | ||
Additional 402(v) Disclosure [Text Block] | (d) The compensation committee does not utilize net income as a metric in setting the PEO and other NEOs incentive compensation because net income includes certain items that the compensations committee believes are not reflective of operational performance of the business. The compensation committee instead utilizes adjusted EBITDA, as it views that metric as more reflective of the operational performance of the business. | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Non-GAAP Measure Description [Text Block] | Reconciliations of net income (loss) to adjusted EBITDA, non-GAAP financial measures, for the years ended December 31, 2022, 2021 and 2020 are included in Appendix A filed herewith. | ||
PEO [Member] | Equity Awards Granted During The Year, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 245,600 | $ 163,105 | $ 224,700 |
PEO [Member] | Equity Awards Granted in Prior Years, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,297,131 | 278,135 | 31,501 |
PEO [Member] | Equity Awards Granted During the Year, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 215,550 | 163,801 | (52,966) |
Non-PEO NEO [Member] | Equity Awards Granted During The Year, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 112,566 | 63,210 | 152,475 |
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 269,843 | 125,822 | 13,500 |
Non-PEO NEO [Member] | Equity Awards Granted During the Year, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 95,182 | $ 66,889 | $ (21,050) |