$TWI
TITAN INTERNATIONAL INC

2012 Q2 Form 10-Q Financial Statement

#000089975112000056 Filed on July 26, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $593.3M $404.4M
YoY Change 46.69% 76.11%
Cost Of Revenue $377.1M $340.1M
YoY Change 10.89% 73.7%
Gross Profit $86.66M $64.33M
YoY Change 34.7% 89.76%
Gross Profit Margin 14.61% 15.91%
Selling, General & Admin $23.41M $16.57M
YoY Change 41.25% 35.84%
% of Gross Profit 27.02% 25.76%
Research & Development $1.189M $1.014M
YoY Change 17.26% -46.63%
% of Gross Profit 1.37% 1.58%
Depreciation & Amortization $11.80M $11.80M
YoY Change 0.0% 26.88%
% of Gross Profit 13.62% 18.34%
Operating Expenses $24.60M $17.59M
YoY Change 39.87% 7.24%
Operating Profit $80.97M $44.40M
YoY Change 82.37% 153.65%
Interest Expense $6.217M $6.149M
YoY Change 1.11% -161.49%
% of Operating Profit 7.68% 13.85%
Other Income/Expense, Net $613.0K $2.270M
YoY Change -73.0%
Pretax Income $75.37M $40.52M
YoY Change 86.0% 440.24%
Income Tax $31.04M $14.96M
% Of Pretax Income 41.19% 36.93%
Net Earnings $23.22M $25.56M
YoY Change -9.18% 459.51%
Net Earnings / Revenue 3.91% 6.32%
Basic Earnings Per Share $0.43 $0.61
Diluted Earnings Per Share $0.40 $0.50
COMMON SHARES
Basic Shares Outstanding 42.16M shares 41.98M shares
Diluted Shares Outstanding 53.52M shares 53.39M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $149.5M $114.2M
YoY Change 30.91% -27.86%
Cash & Equivalents $149.5M $114.2M
Short-Term Investments
Other Short-Term Assets $68.40M $45.90M
YoY Change 49.02% 55.07%
Inventory $214.9M $174.4M
Prepaid Expenses
Receivables $237.4M $243.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $670.1M $577.9M
YoY Change 15.96% 30.1%
LONG-TERM ASSETS
Property, Plant & Equipment $324.7M $353.5M
YoY Change -8.15% 42.08%
Goodwill $11.65M
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $43.70M
YoY Change -100.0%
Other Assets $99.19M $68.00M
YoY Change 45.86% 78.01%
Total Long-Term Assets $423.9M $487.5M
YoY Change -13.05% 69.86%
TOTAL ASSETS
Total Short-Term Assets $670.1M $577.9M
Total Long-Term Assets $423.9M $487.5M
Total Assets $1.094B $1.065B
YoY Change 2.68% 45.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $109.6M $114.8M
YoY Change -4.57% 139.17%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $7.596M $0.00
YoY Change
Long-Term Debt Due $2.596M $10.30M
YoY Change -74.8%
Total Short-Term Liabilities $187.6M $227.5M
YoY Change -17.53% 126.59%
LONG-TERM LIABILITIES
Long-Term Debt $312.9M $317.9M
YoY Change -1.58% -0.31%
Other Long-Term Liabilities $73.18M $79.40M
YoY Change -7.83% 105.17%
Total Long-Term Liabilities $386.1M $397.3M
YoY Change -2.83% 11.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $187.6M $227.5M
Total Long-Term Liabilities $386.1M $397.3M
Total Liabilities $616.9M $674.6M
YoY Change -8.55% 47.29%
SHAREHOLDERS EQUITY
Retained Earnings $146.1M
YoY Change
Common Stock $383.1M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.60M
YoY Change
Treasury Stock Shares 1.805M shares
Shareholders Equity $475.3M $390.8M
YoY Change
Total Liabilities & Shareholders Equity $1.094B $1.065B
YoY Change 2.68% 45.71%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $23.22M $25.56M
YoY Change -9.18% 459.51%
Depreciation, Depletion And Amortization $11.80M $11.80M
YoY Change 0.0% 26.88%
Cash From Operating Activities $48.68M -$25.00M
YoY Change -294.73% -2877.78%
INVESTING ACTIVITIES
Capital Expenditures $19.01M -$6.700M
YoY Change -383.67% -18.29%
Acquisitions
YoY Change
Other Investing Activities -$453.0K -$98.30M
YoY Change -99.54%
Cash From Investing Activities -$18.55M -$105.1M
YoY Change -82.35% 1181.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$9.194M 14.20M
YoY Change -164.75% -128.63%
NET CHANGE
Cash From Operating Activities $48.68M -25.00M
Cash From Investing Activities -$18.55M -105.1M
Cash From Financing Activities -$9.194M 14.20M
Net Change In Cash $20.94M -115.9M
YoY Change -118.06% 103.69%
FREE CASH FLOW
Cash From Operating Activities $48.68M -$25.00M
Capital Expenditures $19.01M -$6.700M
Free Cash Flow $29.68M -$18.30M
YoY Change -262.17% -301.1%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassification</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts from prior years have been reclassified to conform to the current year's presentation.</font></div></div>
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">RECENTLY ISSUED ACCOUNTING STANDARDS</font></div><div style="line-height:120%;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Comprehensive Income</font></div><div style="line-height:120%;padding-top:2px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2011, the FASB issued ASU No. 2011-05, &#8220;Comprehensive Income (Topic 220) - Presentation of Comprehensive Income.&#8221; The objective of this update is to improve the comparability, consistency, and transparency of financial reporting to increase the prominence of items reported in other comprehensive income. This update requires that all nonowner changes in stockholders' equity be presented in either a single continuous statement of comprehensive income or in two separate but consecutive statements. The amendments in this update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. In December of 2011, the FASB issued ASU No. 2011-12, "Comprehensive Income (Topic 220) - Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05." Titan adopted the required comprehensive income presentation updates in the first quarter of 2012. The Company has elected to present items of income and other comprehensive income in two separate, but consecutive, statements of net income and other comprehensive income. This change in presentation did not have a material effect on the Company's financial position, results of operations or cash flows.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
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51133000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
22655000 USD
CY2011Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
10500000 USD
CY2012Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
37000000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
10600000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
46900000 USD
us-gaap Increase Decrease In Accounts Payable
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77736000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
37346000 USD
us-gaap Increase Decrease In Accounts Receivable
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51659000 USD
us-gaap Increase Decrease In Accounts Receivable
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152495000 USD
us-gaap Increase Decrease In Inventories
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34968000 USD
us-gaap Increase Decrease In Inventories
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26335000 USD
us-gaap Increase Decrease In Other Current Liabilities
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19269000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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11305000 USD
CY2011Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2012Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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11088000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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11665000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
11088000 shares
us-gaap Induced Conversion Of Convertible Debt Expense
InducedConversionOfConvertibleDebtExpense
16135000 USD
CY2012Q2 us-gaap Induced Conversion Of Convertible Debt Expense
InducedConversionOfConvertibleDebtExpense
0 USD
CY2011Q2 us-gaap Induced Conversion Of Convertible Debt Expense
InducedConversionOfConvertibleDebtExpense
0 USD
us-gaap Induced Conversion Of Convertible Debt Expense
InducedConversionOfConvertibleDebtExpense
0 USD
CY2012Q2 us-gaap Interest And Other Income
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180000 USD
us-gaap Interest And Other Income
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385000 USD
CY2011Q2 us-gaap Interest And Other Income
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93000 USD
us-gaap Interest And Other Income
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238000 USD
CY2011Q2 us-gaap Interest Expense
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6149000 USD
us-gaap Interest Expense
InterestExpense
12429000 USD
CY2012Q2 us-gaap Interest Expense
InterestExpense
6217000 USD
us-gaap Interest Expense
InterestExpense
12512000 USD
us-gaap Interest Paid
InterestPaid
13400000 USD
CY2011Q2 us-gaap Interest Paid
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400000 USD
us-gaap Interest Paid
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11900000 USD
CY2012Q2 us-gaap Interest Paid
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300000 USD
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75137000 USD
CY2011Q4 us-gaap Liabilities Other Than Longterm Debt Noncurrent
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119760000 USD
CY2012Q2 us-gaap Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
0 USD
us-gaap Line Of Credit Facility Increase Additional Borrowings
LineOfCreditFacilityIncreaseAdditionalBorrowings
0 USD
CY2012Q2 us-gaap Inventory Finished Goods
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87715000 USD
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203535000 USD
CY2012Q2 us-gaap Inventory Gross
InventoryGross
224412000 USD
CY2011Q4 us-gaap Inventory Lifo Reserve
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12663000 USD
CY2012Q2 us-gaap Inventory Lifo Reserve
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9554000 USD
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190872000 USD
CY2012Q2 us-gaap Inventory Net
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214858000 USD
CY2011Q4 us-gaap Inventory Raw Materials
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CY2012Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
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CY2011Q4 us-gaap Inventory Work In Process
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31141000 USD
CY2012Q2 us-gaap Inventory Work In Process
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35165000 USD
CY2012Q2 us-gaap Liabilities
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CY2011Q4 us-gaap Liabilities
Liabilities
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CY2012Q2 us-gaap Liabilities And Stockholders Equity
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1093999000 USD
CY2011Q4 us-gaap Liabilities And Stockholders Equity
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CY2011Q4 us-gaap Liabilities Current
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CY2012Q2 us-gaap Liabilities Current
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CY2012Q2 us-gaap Liabilities Other Than Longterm Debt Noncurrent
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CY2011Q4 us-gaap Long Term Debt
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CY2012Q2 us-gaap Long Term Debt
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2596000 USD
CY2012Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
312881000 USD
CY2012Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 USD
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0 USD
CY2012Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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0 USD
CY2012Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2012Q2 us-gaap Long Term Debt Noncurrent
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312881000 USD
CY2012Q2 us-gaap Minority Interest
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CY2011Q4 us-gaap Minority Interest
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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CY2012Q2 us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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CY2012Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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48683000 USD
CY2012Q2 us-gaap Net Cash Provided By Used In Operating Activities
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48683000 USD
CY2011Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2012Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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244000 USD
CY2012Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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269000 USD
CY2011Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2011Q2 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
26655000 USD
CY2012Q2 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
45199000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
81761000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
24822000 USD
us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
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us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3724000 USD
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NonoperatingIncomeExpense
613000 USD
CY2011Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2270000 USD
us-gaap Payments To Acquire Businesses Gross
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0 USD
CY2012Q2 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2012Q2 us-gaap Operating Leases Future Minimum Payments Due Current
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CY2012Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
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CY2012Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
521000 USD
CY2012Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
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CY2012Q2 us-gaap Other Assets Noncurrent
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CY2011Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
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us-gaap Other Comprehensive Income Loss Amortization Pension And Other Postretirement Benefit Plans Net Prior Service Cost Recognized In Net Periodic Benefit Cost Before Tax
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68000 USD
us-gaap Other Comprehensive Income Loss Amortization Pension And Other Postretirement Benefit Plans Net Prior Service Cost Recognized In Net Periodic Benefit Cost Before Tax
OtherComprehensiveIncomeLossAmortizationPensionAndOtherPostretirementBenefitPlansNetPriorServiceCostRecognizedInNetPeriodicBenefitCostBeforeTax
68000 USD
CY2011Q2 us-gaap Other Comprehensive Income Loss Amortization Pension And Other Postretirement Benefit Plans Net Prior Service Cost Recognized In Net Periodic Benefit Cost Before Tax
OtherComprehensiveIncomeLossAmortizationPensionAndOtherPostretirementBenefitPlansNetPriorServiceCostRecognizedInNetPeriodicBenefitCostBeforeTax
34000 USD
CY2012Q2 us-gaap Other Comprehensive Income Loss Amortization Pension And Other Postretirement Benefit Plans Net Prior Service Cost Recognized In Net Periodic Benefit Cost Before Tax
OtherComprehensiveIncomeLossAmortizationPensionAndOtherPostretirementBenefitPlansNetPriorServiceCostRecognizedInNetPeriodicBenefitCostBeforeTax
34000 USD
CY2012Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
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CY2011Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
14645000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
13652000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
337000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
7351000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
199000 USD
CY2012Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
3276000 USD
CY2011Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
7886000 USD
CY2012Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2011Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2932000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2932000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2011Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-592000 USD
CY2012Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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337000 USD
CY2011Q4 us-gaap Other Liabilities Current
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CY2012Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
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OtherLiabilitiesNoncurrent
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
209000 USD
CY2011Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
128000 USD
CY2012Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
83000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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CY2012Q2 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
423000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
387000 USD
CY2012Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
423000 USD
CY2010Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
12471000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
12040000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
99118000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10196000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19006000 USD
CY2012Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19006000 USD
us-gaap Pension Expense
PensionExpense
268000 USD
us-gaap Pension Expense
PensionExpense
293000 USD
CY2011Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.30
CY2012Q2 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.27
CY2012Q2 us-gaap Prepaid Expense And Other Assets Current
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38637000 USD
CY2011Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
28249000 USD
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
14148000 USD
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
4378000 USD
CY2012Q2 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
4378000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
477000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
887000 USD
CY2012Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
887000 USD
CY2011Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
17659000 USD
CY2011Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
14227000 USD
CY2012Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
21187000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
15568000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
11394000 USD
CY2011Q2 us-gaap Profit Loss
ProfitLoss
25556000 USD
us-gaap Profit Loss
ProfitLoss
79719000 USD
CY2012Q2 us-gaap Profit Loss
ProfitLoss
44325000 USD
us-gaap Profit Loss
ProfitLoss
22520000 USD
CY2012Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
706252000 USD
CY2011Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
701695000 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
334742000 USD
CY2012Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
324676000 USD
CY2011Q4 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
0 USD
CY2012Q2 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
400000 USD
CY2011Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
600000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1200000 USD
CY2012Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
700000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1400000 USD
us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
0 USD
CY2011Q2 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
0 USD
CY2012Q2 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
188000 USD
us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
363000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
14226000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
0 USD
CY2012Q2 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
14226000 USD
CY2011Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1014000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2197000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2697000 USD
CY2012Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1189000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
67053000 USD
CY2012Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
146105000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1100000 USD
CY2012Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
700000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1900000 USD
CY2011Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1100000 USD
us-gaap Revenue Recognition Sales Of Goods
RevenueRecognitionSalesOfGoods
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Sales</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Sales and revenues are presented net of sales taxes and other related taxes.</font></div></div>
CY2011Q2 us-gaap Royalty Expense
RoyaltyExpense
2350000 USD
us-gaap Royalty Expense
RoyaltyExpense
5267000 USD
us-gaap Royalty Expense
RoyaltyExpense
5001000 USD
CY2012Q2 us-gaap Royalty Expense
RoyaltyExpense
2652000 USD
CY2012Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
459233000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
922321000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
685276000 USD
CY2011Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
404447000 USD
us-gaap Selling General And Administrative Expense
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54245000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
41866000 USD
CY2011Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
16573000 USD
CY2012Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
23410000 USD
CY2012Q2 us-gaap Senior Notes
SeniorNotes
200000000 USD
CY2011Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
11723000 USD
CY2012Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
7596000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
887000 USD
us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
293000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
395239000 USD
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
475276000 USD
CY2012Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
477076000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
396879000 USD
CY2011Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1887316 shares
CY2012Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2012Q2 us-gaap Treasury Stock Value
TreasuryStockValue
16600000 USD
CY2011Q4 us-gaap Treasury Stock Value
TreasuryStockValue
17338000 USD
CY2012Q2 us-gaap Unrealized Gain Loss On Investments
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-473000 USD
CY2011Q2 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
51000 USD
us-gaap Unrealized Gain Loss On Investments
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795000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
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CY2012Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3100000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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300000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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2000000 USD
twi Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Unrecognized Deferred Tax Liability Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansUnrecognizedDeferredTaxLiabilityTax
727000 USD
CY2011Q2 twi Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Unrecognized Deferred Tax Liability Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansUnrecognizedDeferredTaxLiabilityTax
364000 USD
CY2012Q2 twi Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Unrecognized Deferred Tax Liability Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansUnrecognizedDeferredTaxLiabilityTax
491000 USD
CY2012Q2 twi Prepaid Expense Deffered Income Taxes And Other Assets Current
PrepaidExpenseDefferedIncomeTaxesAndOtherAssetsCurrent
68410000 USD
CY2011Q4 twi Prepaid Expense Deffered Income Taxes And Other Assets Current
PrepaidExpenseDefferedIncomeTaxesAndOtherAssetsCurrent
55024000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of estimates</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The policies utilized by the Company in the preparation of the financial statements conform to accounting principles generally accepted in the United States of America and require management to make estimates, assumptions and judgments that affect the reported amount of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&#160;&#160;Actual amounts could differ from these estimates and assumptions.</font></div></div>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53229000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53492000 shares
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53516000 shares
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53394000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41250000 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42158000 shares
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41981000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42132000 shares
twi Amortization Of Prepaid Royalty Discount
AmortizationOfPrepaidRoyaltyDiscount
1079000 USD
CY2012Q2 twi Amortization Of Prepaid Royalty Discount
AmortizationOfPrepaidRoyaltyDiscount
933000 USD
CY2011Q2 twi Amortization Of Prepaid Royalty Discount
AmortizationOfPrepaidRoyaltyDiscount
1079000 USD
twi Amortization Of Prepaid Royalty Discount
AmortizationOfPrepaidRoyaltyDiscount
1972000 USD
twi Amortization Of Unrecognized Deferred Taxes
AmortizationOfUnrecognizedDeferredTaxes
0 USD
CY2012Q2 twi Amortization Of Unrecognized Deferred Taxes
AmortizationOfUnrecognizedDeferredTaxes
0 USD
twi Amortization Of Unrecognized Deferred Taxes
AmortizationOfUnrecognizedDeferredTaxes
-28000 USD
CY2011Q2 twi Amortization Of Unrecognized Deferred Taxes
AmortizationOfUnrecognizedDeferredTaxes
-14000 USD
twi Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Unrecognized Deferred Tax Liability Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansUnrecognizedDeferredTaxLiabilityTax
982000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000899751
CY2012Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
42294570 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
TITAN INTERNATIONAL INC

Files In Submission

Name View Source Status
0000899751-12-000056-index-headers.html Edgar Link pending
0000899751-12-000056-index.html Edgar Link pending
0000899751-12-000056.txt Edgar Link pending
0000899751-12-000056-xbrl.zip Edgar Link pending
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Financial_Report.xls Edgar Link pending
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report.css Edgar Link pending
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twi-20120630.xml Edgar Link completed
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twi0630201210-q.htm Edgar Link pending
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