TITAN INTERNATIONAL, INC. TWI Cash Flow

Titan international, inc. (TWI)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Assets [Abstract]
Cash flows from operating activities:
Net (loss) income
-51,519	13,045	-64,079	-39,755	-89,828	-130,425	29,687	105,638	58,136	-5,926	-24,645
Adjustments to reconcile net (loss) income to net cash provided by (used for) operating activities:
Depreciation and amortization
54,376	57,618	58,444	59,768	69,618	88,704	80,622	54,095	44,908	37,567	34,296
Amortization of debt premium
-	-	-	-	-	-	-2,369	0	0	-	-
Asset Impairment Charges
0	0	9,917	0	0	23,242	0	0	-	-	-
Mining inventory writedown
-	-	-	-	-	16,690	0	0	-	-	-
Deferred income tax provision
-2,300	-2,291	785	-680	24,444	-24,800	-4,004	17,170	-449	-2,080	-2,950
Unrealized Gain (Loss) on Investments
4,695	0	0	-	-	-	-	-	-	-	-
Realized gain on investments
-	-	-	-	-	-	-	-	1,588	0	0
Convertible debt conversion charge
-	-	-	-	-	-	7,273	0	16,135	0	0
Gain (Loss) on Extinguishment of Debt
0	0	-18,646	0	0	-	-22,734	0	0	-14,573	1,398
Gain on earthquake insurance recovery
-	-	-	-	-	-	22,451	0	0	-	-
Noncash Titan Europe gain
-	-	-	-	-	-	-	26,700	0	0	-
Supply agreement termination income
-	-	-	-	-	-	-	26,134	0	0	-
Noncash goodwill impairment charge
-	-	-	-	-	36,571	0	0	-	-	11,702
Stock-based compensation
1,381	1,130	1,539	1,993	2,335	5,360	4,815	4,087	2,392	201	0
Excess tax benefit from stock-based compensation
-	-	-	-	-	672	-68	184	706	0	0
Insurance proceeds
-	-	-	-	-	-	35,808	0	0	-	-
Issuance of stock under 401(k) plan
1,076	561	540	518	583	639	646	588	536	486	418
Foreign currency translation (gain) loss
4,657	-3,149	-5,258	-9,734	-12,058	8,829	-198	-	-	-	-
Gain on acquisition
-	-	-	-	-	-	-	11,678	285	0	0
(Increase) decrease in assets:
Accounts receivable
-56,832	36,092	38,478	-4,007	-497	-54,686	-26,417	-35,839	105,619	21,491	-59,018
Inventories
-63,654	77,919	55,562	-7,992	-34,399	-20,933	30,280	-23,917	55,607	8,007	-37,170
Prepaid and other current assets
-1,912	5,377	-9,277	16,718	-9,946	-30,324	39,825	25,229	2,214	-8,614	5,615
Other assets
1,842	13,054	-15,134	109	4,780	1,145	-1,960	-6,987	-1,134	-91	2,031
Increase (decrease) in liabilities:
Accounts payable
-53,183	29,364	37,584	20,953	1,402	-26,135	9,479	-44,542	44,991	11,035	-41,301
Other current liabilities
-10,155	-2,866	9,522	3,635	-172	-2,089	-556	7,839	9,192	11,426	-462
Other liabilities
-5,438	-3,444	-9,816	-7,838	3,428	15,764	-3,348	8,475	-6,530	4,222	8,111
Net Cash Provided by (Used in) Operating Activities
45,442	-36,176	-1,289	43,500	63,930	117,820	116,874	130,168	4,426	50,711	72,313
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment
36,414	39,000	32,626	41,948	48,429	58,439	80,131	65,740	35,744	28,854	39,537
Proceeds from Sale of Equity Method Investments
19,021	0	0	-	-	-	-	-	-	-	-
Acquisitions, net of cash acquired
-	-	-	-	-	13,395	95,681	-780	99,118	0	0
Additional equity investment in Wheels India
-	-	-	-	-	-	8,017	0	0	-	-
Purchases of marketable securities
-	-	-	-	-	-	-	-	30,000	0	0
Proceeds from Sale and Maturity of Marketable Securities
-	-	-	-	-	-	-	-	31,586	0	0
Payments to Acquire Restricted Certificates of Deposit
0	0	-50,000	50,000	0	0	-	-	-	-	-
Payment related to redeemable noncontrolling interest agreement
71,722	0	0	-	-	-	-	-	-	-	-
Increase in restricted cash
-	-	-	-	-	-	-	-	0	-	-
Proceeds from Insurance Settlement, Investing Activities
-	-	-	-	-	-	2,879	0	0	-	-
Increase (Decrease) in Restricted Cash
-	-	-	-	-	-14,268	14,473	0	-	-	-
Acquisition of shares of Titan Europe Plc
-	-	-	-	-	-	-	-	-	-	2,399
Payments for (Proceeds from) Other Investing Activities
3,476	-2,069	-993	-2,222	1,508	-1,296	-2,119	-1,066	-2,473	-106	-1,042
Net Cash Provided by (Used in) Investing Activities
-92,591	-36,931	18,367	-89,726	-49,937	-56,270	-193,304	-63,894	-130,803	-28,748	-40,894
Cash flows from financing activities:
Proceeds from borrowings
134,227	57,294	447,639	17,285	5,727	15,708	788,704	17,171	0	200,000	172,500
Repurchase of senior secured notes
0	0	415,395	0	0	-	558,360	0	1,064	206,166	4,726
Repayments of Other Debt
100,901	38,557	55,160	22,634	5,521	60,345	200,721	20,811	8,856	0	0
Convertible note conversion
-	-	-	-	-	-	14,090	0	0	-	-
Capital contribution from noncontrolling interest
-	-	-	-	-	-	79,592	0	0	-	-
Term loan borrowing
-	-	-	-	-	-	-	-	25,879	0	0
Proceeds (payment) on revolving credit facility, net
-	-	-	-	-	-	-	-	-	-	25,000
Proceeds from exercise of stock options
-	-	-	-	145	141	1,001	934	524	285	1,142
Adjustments to Additional Paid in Capital, Income Tax Deficiency from Share-based Compensation
-	-	-	-	-	-672	-68	-	-	-	-
Payment of financing fees
-	-	-	-	-	33	12,332	1,275	0	5,057	7,107
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	184	706	0	0
Payments of Ordinary Dividends, Common Stock
1,204	1,201	1,167	1,081	1,077	1,073	1,046	845	809	707	704
Net Cash Provided by (Used in) Financing Activities
32,122	17,536	-24,083	-6,430	-726	-46,274	82,680	-4,642	16,380	-11,645	136,105
Effect of Exchange Rate on Cash and Cash Equivalents
141	-6,314	2,748	295	-14,530	-3,185	-6,004	-1,688	-333	0	0
Cash and Cash Equivalents, Period Increase (Decrease)
-14,886	-61,885	-4,257	-52,361	-1,263	12,091	246	59,944	-110,330	10,318	167,524
Supplemental information:
Interest paid
32,498	30,800	38,164	-	-	-	-	-	-	-	-
Interest paid
-	-	-	34,380	34,072	34,014	41,875	27,192	24,818	23,694	-
Income taxes paid, net of refunds received
10,416	12,435	4,594	5,463	-195	-25,588	59,360	86,587	30,807	192	-
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Transfer from Investments
0	14,268	0	0	-	-	-	-	-	-	-
Issuance of common stock for Titan Europe acquisition
-	-	-	-	-	-	168	148,154	4,491	-	-
Stockholders' Equity, Other
0	0	58,460	0	0	-	45,903	0	73,909	0	-