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OTHER INCOME
 12 Months Ended
Dec. 31, 2013
Other Income and Expenses [Abstract]  
OTHER INCOME, NET
22. NONCASH TITAN EUROPE GAIN

Noncash Titan Europe gain consisted of the following (amounts in thousands):
 
2013
 
2012
 
2011
Noncash Titan Europe gain
$
—

 
$
26,700

 
$
—


In the fourth quarter of 2012, the Company acquired Titan Europe. Prior to the acquisition, Titan held a 21.8% ownership percentage in Titan Europe, which had a fair value on the acquisition date of $31.7 million. As a result of recording the fair value of the investment on the acquisition date, a gain of $26.7 million was recorded on Titan's previously held interest in Titan Europe. This gain was previously recorded in other comprehensive income.
OTHER INCOME, NET

Other income consisted of the following (amounts in thousands):
 
2013
 
2012
 
2011
Interest income
$
3,396

 
$
859

 
$
556

Discount amortization on prepaid royalty
3,296

 
3,736

 
3,149

Other income (expense)
1,652

 
95

 
(160
)
Wheels India Limited equity gain
1,430

 
401

 
—

Investment gain (loss) related to contractual obligation investments
1,315

 
1,022

 
(302
)
Building rental income
846

 
710

 
—

Investment gain on marketable securities
—

 
—

 
1,588

Currency exchange loss
(4,920
)
 
—

 
—

 
$
7,015

 
$
6,823

 
$
4,831