View Filing Data

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jul. 31, 2018	Aug. 31, 2018
Document and Entity Information
Entity Registrant Name	Titan Machinery Inc.
Entity Central Index Key	0001409171
Document Type	10-Q
Document Period End Date	Jul. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--01-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		22,218,146
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018
Current Assets
Cash	$ 49,673	$ 53,396
Receivables, net of allowance for doubtful accounts	78,411	60,672
Inventories	547,062	472,467
Prepaid expenses and other	11,149	12,611
Total current assets	686,295	599,146
Noncurrent Assets
Intangible assets, net of accumulated amortization	5,361	5,193
Property and equipment, net of accumulated depreciation	143,575	151,047
Deferred Tax Assets, Net, Noncurrent	2,785	3,472
Other	1,433	1,450
Total noncurrent assets	153,154	161,162
Total Assets	839,449	760,308
Current Liabilities
Accounts payable	18,721	15,136
Floorplan payable	365,634	247,392
Convertible Debt, Current	44,444	0
Current maturities of long-term debt	1,974	1,574
Deferred revenue	22,731	32,324
Accrued expenses and other	26,811	31,863
Total current liabilities	480,315	328,289
Long-Term Liabilities
Senior convertible notes	0	62,819
Long-term debt, less current maturities	22,419	34,578
Deferred income taxes	2,492	2,275
Other long-term liabilities	8,268	10,492
Total long-term liabilities	33,179	110,164
Commitments and Contingencies
Stockholders' Equity
Common stock, par value $.00001 per share, 45,000 shares authorized; 22,218 shares issued and outstanding at July 31, 2018; 22,102 shares issued and outstanding at January 31, 2018	0	0
Additional paid-in-capital	247,149	246,509
Retained earnings	80,613	77,046
Accumulated other comprehensive loss	(1,807)	(1,700)
Total stockholders' equity	325,955	321,855
Total Liabilities and Stockholders' Equity	$ 839,449	$ 760,308

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 31, 2018	Jan. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value, in dollars per share	$ 0.00001	$ 0.00001
Common stock, shares authorized	45,000,000	45,000,000
Common stock, shares issued	22,218,000	22,102,000
Common stock, shares outstanding	22,218,000	22,102,000

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Revenue
Equipment	$ 192,721	$ 167,881	$ 349,625	$ 335,796
Parts	59,998	55,580	111,533	112,163
Service	31,271	30,509	58,627	59,275
Rental and other	15,901	14,901	25,784	25,755
Total Revenue	299,891	268,871	545,569	532,989
Cost of Revenue
Equipment	174,472	154,729	316,239	310,246
Parts	42,544	39,103	79,202	79,460
Service	11,432	11,444	22,634	22,238
Rental and other	12,542	10,788	21,035	19,319
Total Cost of Revenue	240,990	216,064	439,110	431,263
Gross Profit	58,901	52,807	106,459	101,726
Operating Expenses	47,633	50,523	94,360	102,510
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	156	0	156	0
Restructuring Costs	565	5,549	565	7,893
Income (Loss) from Operations	10,547	(3,265)	11,378	(8,677)
Other Income (Expense)
Interest income and other income	1,462	682	1,846	1,460
Floorplan interest expense	(1,727)	(2,163)	(3,077)	(4,819)
Other interest expense	(2,490)	(2,464)	(4,520)	(4,584)
Income (Loss) Before Income Taxes	7,792	(7,210)	5,627	(16,620)
Provision for (Benefit from) Income Taxes	2,612	(2,024)	2,061	(5,502)
Net Income (Loss)	5,180	(5,186)	3,566	(11,118)
Net Income Allocated to Participating Securities - Note 1	80	0	57	0
Net Income (Loss) Attributable to Titan Machinery Inc. Common Stockholders	$ 5,100	$ (5,186)	$ 3,509	$ (11,118)
Earnings (Loss) per Share:
Earnings (Loss) per Share - Basic, in dollars per share	$ 0.23	$ (0.24)	$ 0.16	$ (0.51)
Earnings (Loss) per Share - Diluted, in dollars per share	$ 0.23	$ (0.24)	$ 0.16	$ (0.51)
Weighted Average Common Shares:	21,826	21,546	21,781	21,461
Basic	21,831	21,546	21,788	21,461

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Net Income (Loss)	$ 5,180	$ (5,186)	$ 3,566	$ (11,118)
Other Comprehensive Income (Loss)
Foreign currency translation adjustments	(1,408)	930	(107)	1,391
Other comprehensive income (loss)	(1,408)	1,034	(107)	2,012
Comprehensive Income (Loss)	3,772	(4,152)	3,459	(9,106)
Interest Rate Swap
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	0	0	0	29
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	$ 0	$ 104	$ 0	$ 592

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - Cash Flow Hedges - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Tax expense (benefit) on unrealized gain (loss) on cash flow hedge derivative instruments	$ 0	$ 0	$ 0	$ 19
Tax expense (benefit) on reclassification of gain (loss) on foreign currency contract cash flow hedge derivative instruments	$ 0	$ 68	$ 0	$ 394

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
Operating Activities
Net income (loss)	$ 3,566	$ (11,118)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities
Depreciation and amortization	11,447	12,268
Impairment	156	0
Deferred income taxes	891	(4,927)
Stock-based compensation expense	1,249	1,732
Noncash interest expense	1,430	2,139
Loss (gain) on repurchase of senior convertible notes	615	(40)
Other, net	837	(1,865)
Changes in assets and liabilities
Receivables, prepaid expenses and other assets	(16,117)	(2,340)
Inventories	(73,915)	(31,981)
Manufacturer floorplan payable	69,225	107,833
Accounts payable, customer deposits, accrued expenses and other and other long-term liabilities	(13,277)	(4,562)
Income taxes	(194)	(262)
Net Cash Provided by (Used for) Operating Activities	(14,087)	66,877
Investing Activities
Rental fleet purchases	(3,145)	(10,222)
Property and equipment purchases (excluding rental fleet)	(2,609)	(7,472)
Proceeds from sale of property and equipment	614	2,253
Other, net	(169)	78
Net Cash Used for Investing Activities	(5,309)	(15,363)
Financing Activities
Net change in non-manufacturer floorplan payable	50,422	(38,030)
Repurchase of Senior Convertible Notes	(20,025)	(19,340)
Proceeds from long-term debt borrowings	0	33,000
Principal payments on long-term debt	(14,062)	(22,722)
Other, net	(618)	(482)
Net Cash Provided by (Used for) Financing Activities	15,717	(47,574)
Effect of Exchange Rate Changes on Cash	(44)	435
Net Change in Cash	(3,723)	4,375
Cash at Beginning of Period	53,396	53,151
Cash at End of Period	49,673	57,526
Cash paid during the period
Income taxes, net of refunds	1,145	3
Interest	5,442	7,240
Supplemental Disclosures of Noncash Investing and Financing Activities
Net property and equipment financed with long-term debt, capital leases, accounts payable and accrued expenses and other	2,310	1,262
Net transfer of assets from property and equipment to inventories	$ 2,715	$ 1,905

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jul. 31, 2018

Accounting Policies [Abstract]

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The unaudited consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. The quarterly operating results for Titan Machinery Inc. (the “Company”) are subject to fluctuation due to varying weather patterns, which may impact the timing and amount of equipment purchases, rentals, and after-sales parts and service purchases by the Company’s Agriculture, Construction and International customers. Therefore, operating results for the six-month period ended July 31, 2018 are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2019. The information contained in the consolidated balance sheet as of January 31, 2018 was derived from the audited consolidated financial statements for the Company for the fiscal year then ended. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2018 as filed with the SEC.

Nature of Business

The Company is engaged in the retail sale, service and rental of agricultural and construction machinery through its stores in the United States and Europe. The Company’s North American stores are located in Arizona, Colorado, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dakota, South Dakota, Wisconsin and Wyoming, and its European stores are located in Bulgaria, Romania, Serbia and Ukraine.

Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates, particularly related to realization of inventory, impairment of long-lived assets, collectability of receivables, and income taxes.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All material accounts, transactions and profits between the consolidated companies have been eliminated in consolidation.

Reclassifications

Certain reclassifications of amounts previously reported have been made to the accompanying consolidated statements of cash flows to maintain consistency and comparability between periods presented. These reclassifications had no impact on previously reported cash flows from operating, investing or financing activities.

Earnings (Loss) Per Share (“EPS”)

The Company uses the two-class method to calculate basic and diluted EPS. Unvested restricted stock awards are considered participating securities because they entitle holders to non-forfeitable rights to dividends during the vesting term. Under the two-class method, basic EPS was computed by dividing net income (loss) attributable to Titan Machinery Inc. after allocation of net income to participating securities by the weighted-average number of shares of common stock outstanding during the relevant period. In the event of a net loss, no amount of the loss is allocated to the participating securities as they do not share in the losses of the Company.

Diluted EPS was computed by dividing net income (loss) attributable to Titan Machinery Inc. after allocation of net income to participating securities by the weighted-average shares of common stock outstanding after adjusting for potential dilution related to the conversion of all dilutive securities into common stock. All potentially dilutive securities were included in the computation of diluted EPS. All anti-dilutive securities were excluded from the computation of diluted EPS.

The following table sets forth the calculation of basic and diluted EPS:



	Three Months Ended July 31,						Six Months Ended July 31,
	2018			2017			2018			2017
	(in thousands, except per share data)
Numerator:
Net income (loss)	$	5,180		$	(5,186	)	$	3,566		$	(11,118	)
Income allocated to participating securities	(80		)	—			(57		)	—
Net income (loss) attributable to Titan Machinery Inc. common stockholders	$	5,100		$	(5,186	)	$	3,509		$	(11,118	)
Denominator:
Basic weighted-average common shares outstanding	21,826			21,546			21,781			21,461
Plus: incremental shares from assumed exercises of stock options and vesting of restricted stock units	5			—			7			—
Diluted weighted-average common shares outstanding	21,831			21,546			21,788			21,461

Earnings (Loss) Per Share:
Basic	$	0.23		$	(0.24	)	$	0.16		$	(0.51	)
Diluted	$	0.23		$	(0.24	)	$	0.16		$	(0.51	)

Anti-dilutive shares excluded from diluted weighted-average common shares outstanding:
Stock options and restricted stock units	53			133			53			143
Shares underlying senior convertible notes	1,057			1,748			1,057			1,748

Recent Accounting Guidance

Accounting guidance adopted

In May 2014, the FASB issued authoritative guidance on accounting for revenue recognition, codified in Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers. This guidance is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract.

The Company adopted ASC 606 as of February 1, 2018 using the modified retrospective method of adoption. Results for reporting periods beginning after February 1, 2018 are presented under the guidelines of ASC 606, while prior period amounts have not been adjusted and continue to be reported under the accounting standards in effect for those periods. Upon adoption of ASC 606, the Company did not recognize a cumulative effect adjustment of initially applying the standard as no material adjustments to contracts not completed as of the date of adoption were identified. The adoption of ASC 606 did not materially impact the amount of revenue recognized or any other financial statement line item as of and for the three and six months ended July 31, 2018. The Company has included the additional disclosures required under ASC 606 in Notes 2, 3 and 7.

Accounting guidance not yet adopted

In February 2016, the FASB amended authoritative guidance on leases, codified in ASC 842, Leases. The amended guidance requires lessees to recognize most leases on their balance sheets related to the rights and obligations created by those leases. The new standard also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. This guidance is effective for reporting periods beginning after December 15, 2018, with early adoption permitted. In July 2018, the FASB issued additional authoritative guidance providing companies with a new prospective transition method to apply the provisions of this guidance. The Company will elect this transition method applying the new lease standard on a prospective basis at the adoption date and recognize any cumulative-effect adjustments to the opening balance of retained earnings in the period of adoption. Prior period amounts will not be adjusted and will continue to be reported under the accounting standards in effect for those periods. The Company will adopt the new standard on February 1, 2019, and expects to elect the package of practical expedients afforded under the guidance. The practical expedient package applies to leases that commenced prior to adoption of the new standard and permits an entity not to: 1) reassess whether existing or expired contracts are or contain a lease, 2) reassess the lease classification, and 3) reassess any initial direct costs for any existing leases. We continue to evaluate if we will elect the use of hindsight to determine the lease term. Our implementation efforts to date have consisted of identifying the Company's lease population, selecting a lease software to implement that will assist with the reporting and disclosure requirements under the standard and abstracting and validating our lease information.

While we continue to evaluate this standard, we anticipate this standard will have a material impact on our consolidated balance sheets due to the capitalization of a right-of-use asset and lease liability associated with our current operating leases in which we are the lessee, but we do not believe it will have a material impact on our consolidated statements of operations or cash flows. Our rental fleet and equipment inventory rental activities in which we are the lessor in the transaction are also subject to ASC 842. While our evaluation of the impact of this standard on our rental transactions is ongoing, we do not believe the standard will have a material impact on our consolidated balance sheets, statements of operations or cash flows for such transactions.

In August 2017, the FASB amended authoritative guidance on hedge accounting, codified in ASC 815, Derivatives and Hedging. The amendments better align the accounting rules with a company's risk management activities, better reflects economic results of hedging in financial statements, and simplifies hedge accounting treatment. The guidance is effective for the Company as of the first quarter of its fiscal year ending January 31, 2020. The Company does not believe the update will have a material impact on its consolidated financial statements.

REVENUE (Notes)

6 Months Ended

Jul. 31, 2018

Revenue from Contract with Customer [Abstract]

Revenue Recognition, Policy [Policy Text Block]

REVENUE

Revenues are recognized when control of the promised goods or services is transferred to the customer, in an amount that reflects the consideration we expect to collect in exchange for those goods or services. Sales, value added and other taxes collected from our customers concurrent with our revenue activities are excluded from revenue.

The following tables presents our revenue disaggregated by revenue source and segment:



	Three Months Ended July 31, 2018
	Agriculture		Construction		International		Total
	(in thousands)
Equipment	$	94,231	$	42,168	$	56,322	$	192,721
Parts	35,796		14,482		9,720		59,998
Service	20,486		9,699		1,086		31,271
Other	1,463		216		74		1,753
Revenue from contracts with customers	151,976		66,565		67,202		285,743
Rental	837		12,680		631		14,148
Total revenues	$	152,813	$	79,245	$	67,833	$	299,891



	Six Months Ended July 31, 2018
	Agriculture		Construction		International		Total
	(in thousands)
Equipment	$	185,229	$	74,454	$	89,942	$	349,625
Parts	67,979		27,676		15,878		111,533
Service	38,697		18,165		1,765		58,627
Other	2,716		389		108		3,213
Revenue from contracts with customers	294,621		120,684		107,693		522,998
Rental	1,063		20,652		856		22,571
Total revenues	$	295,684	$	141,336	$	108,549	$	545,569

Equipment Revenue

Equipment revenue transactions include the sale of new and used agricultural and construction equipment. The Company satisfies its performance obligations and recognizes revenue at a point in time, primarily upon the delivery of the product. Once a product is delivered, the customer has physical possession of the asset, can direct the use of the asset, and has the significant risks and rewards of ownership of the asset. Equipment transactions often include both cash and noncash consideration. Cash consideration is paid directly by our customers or by third-party financial institutions financing our customer transactions. Noncash consideration is in the form of trade-in equipment assets. We assign a value to trade-in assets by estimating a future selling price, which we estimate based on relevant internal and third-party data, less a gross profit amount to be realized at the time the trade-in asset is sold and an estimate of any reconditioning work required to ready the asset for sale. Both cash and noncash consideration can be received prior to or after our performance obligation is satisfied. Any consideration received prior to the satisfaction of our performance obligation is recognized as deferred revenue. Receivables recognized for amounts not paid at the time our performance obligation is satisfied, including amounts due from third-party financial institutions, generally do not have established payment terms but are collected in relatively short time periods.

For certain equipment sale transactions, the Company provides a residual value guarantee to CNH Industrial Capital in connection with a customer leasing arrangement in which we sell the equipment to CNH Industrial Capital, who simultaneously executes a leasing arrangement with our end-user customer. The amount of revenue recognized for the sale of the equipment asset is reduced by, and we recognize a corresponding liability equal to, our estimate of the amount that is probable of being paid under the guarantee discounted at a rate of interest to reflect the risk inherent in the liability.

Also included in equipment revenue are net commissions earned for serving as the agent in facilitating sales of equipment assets we hold as consignee on behalf of the consignor, as well as net commissions earned for facilitating the sale of extended warranty protection plans provided by our suppliers or third-party insurance providers.

We have elected, as a practical expedient, to recognize sales commissions earned on the sale of equipment inventory as an expense when incurred because the amortization period of this cost if it was otherwise capitalized would be less than one year. These costs are recorded in operating expenses in our consolidated statements of operations.

Parts Revenue

We sell a broad range of maintenance and replacement parts for both equipment that we sell and other types of equipment. The Company satisfies its performance obligation and recognizes revenue at a point in time, upon delivery of the product to the customer. Once a product is delivered, the Company has a present right to payment, the customer has physical possession of the asset, can direct the use of the asset, and has the significant risks and rewards of ownership of the asset. In many cases, customers tender payment at the time of delivery. Balances not paid at the time of delivery are typically due in full within 30 days. Most parts are sold with a thirty-day right of return or exchange. Historically, parts returns have not been material.

Parts revenue also includes the retail value of parts inventories consumed during the course of customer repair and maintenance services and services provided under manufacturer warranties. As further described below, we recognize revenue from these activities over time.

Service Revenue

We provide repair and maintenance services, including repairs performed under manufacturer warranties, for our customer’s equipment. We recognize service and associated parts revenue of our repair and maintenance services over time as we transfer control of these goods and services over time. The Company recognizes revenue over time in the amount to which we have the right to invoice the customer as such an amount corresponds to the value of our performance completed to date. Generally, the Company has the right to invoice the customer for labor hours incurred and parts inventories consumed during the performance of the service arrangement. Customer invoicing most often occurs at the conclusion of our repair and maintenance services. Accordingly, we recognize unbilled receivables for the amount of unbilled labor hours incurred and parts inventories consumed under our repair and maintenance arrangements. Upon customer invoicing, unbilled receivables are reclassified to receivables. In many cases, customers tender payment at the completion of our work and the creation of the invoice. Balances not paid at the time of invoicing are typically due in full within 30 days.

Other Revenue

Other revenues primarily consist of fees charged in connection with short-haul equipment delivery and pick-up services, in which revenue is recognized at a point in time when the service is completed, and Global Positioning System ("GPS") signal subscriptions, in which revenue is recognized on a straight-line basis over the subscription period.

Rental Revenue

We rent equipment to our customers on a short-term basis for periods ranging from a few days to a few months. Rental revenue is recognized on a straight-line basis over the period of the related rental agreement. Revenue from rental equipment delivery and pick-up services is recognized when the service is performed.

Unbilled Receivables and Deferred Revenue

Unbilled receivables amounted to $14.5 million and $11.0 million as of July 31, 2018 and January 31, 2018. The increase in unbilled receivables is primarily the result of a seasonal increase in the volume of our service transactions in which we recognize revenue as our work is performed and prior to customer invoicing.

Deferred revenue from contracts with customers amounted to $21.1 million and $30.1 million as of July 31, 2018 and January 31, 2018. Our deferred revenue most often increases in the fourth quarter of each fiscal year due to a higher level of customer down payments or prepayments and longer time periods between customer payment and delivery of the equipment asset, and the related recognition of equipment revenue, prior to its seasonal use. During the three and six months ended July 31, 2018, the Company recognized $9.8 million and $27.0 million of revenue that was included in the deferred revenue balance as of January 31, 2018.

No material amount of revenue was recognized during the three or six months ended July 31, 2018 from performance obligations satisfied in previous periods. The Company has elected as a practical expedient to not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of service of one year or less and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed. The contracts for which the practical expedient has been applied include (i) equipment revenue transactions, which do not have a stated contractual term, but are short-term in nature, and (ii) service revenue transactions, which also do not have a stated contractual term but are generally completed within 30 days and for such contracts we recognize revenue over time at the amount to which we have the right to invoice for services completed to date.

RECEIVABLES (Notes)

6 Months Ended

Jul. 31, 2018

Receivables [Abstract]

Receivables, Policy [Policy Text Block]

RECEIVABLES



	July 31, 2018			January 31, 2018
	(in thousands)
Trade and unbilled receivables from contracts with customers
Trade receivables due from customers	$	35,071		$	25,396
Trade receivables due from finance companies	13,682			8,901
Unbilled receivables	14,492			10,967
Trade and unbilled receivables from rental contracts
Trade receivables	7,978			7,571
Unbilled receivables	1,458			847
Other receivables
Due from manufacturers	8,404			8,805
Other	472			1,136
Total receivables	81,557			63,623
Less allowance for doubtful accounts	(3,146		)	(2,951		)
Receivables, net of allowance for doubtful accounts	$	78,411		$	60,672

The Company recognized impairment losses on receivables arising from contracts with customers for the three and six months ended July 31, 2018 of $0.2 million and $0.3 million. Impairment losses on receivables arising from other contracts amounted to $0.1 million and $0.2 million for the three and six months ended July 31, 2018.

- Definition

Disclosure of accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables.

+ References + Details

INVENTORIES

6 Months Ended

Jul. 31, 2018

Inventory Disclosure [Abstract]

INVENTORIES



	July 31, 2018		January 31, 2018
	(in thousands)
New equipment	$	346,145	$	258,559
Used equipment	127,644		141,450
Parts and attachments	71,373		71,110
Work in process	1,900		1,348
	$	547,062	$	472,467

PROPERTY AND EQUIPMENT

3 Months Ended

Jul. 31, 2018

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT



	July 31, 2018			January 31, 2018
	(in thousands)
Rental fleet equipment	$	119,065		$	123,430
Machinery and equipment	22,123			22,025
Vehicles	39,296			37,741
Furniture and fixtures	39,911			39,851
Land, buildings, and leasehold improvements	62,985			62,243
	283,380			285,290
Less accumulated depreciation	(139,805		)	(134,243		)
	$	143,575		$	151,047

During the three months ended July 31, 2018, the Company determined that the current period operating loss combined with historical losses and anticipated future operating losses of a specific store location was an indication that the long-lived assets of this store may not be recoverable. In light of these circumstances, the Company performed step one of the impairment analysis for this long-lived asset group, which has a combined carrying value of $0.4 million. Step one of the impairment analysis indicated that the carrying value of this long-lived asset group was not recoverable. Accordingly, the Company performed step two of the impairment analysis and estimated the fair value of these assets primarily using estimated selling prices of similar assets. Step two of the analysis indicated that an impairment charge in the amount of $0.2 million was necessary. The impairment charge was recognized within the Company's International segment.

LINES OF CREDIT / FLOORPLAN PAYABLE	6 Months Ended
LINES OF CREDIT / FLOORPLAN PAYABLE	Jul. 31, 2018
Line of Credit Facility [Abstract]
LINES OF CREDIT / FLOORPLAN PAYABLE	LINES OF CREDIT / FLOORPLAN PAYABLE Floorplan Lines of Credit Floorplan payable balances reflect the amount owed for new equipment inventory purchased from a manufacturer and for used equipment inventory, which is primarily acquired through trade-in on equipment sales. Certain of the manufacturers from which the Company purchases new equipment inventory offer financing on these purchases, either offered directly from the manufacturer or through the manufacturers’ captive finance subsidiaries. CNH Industrial's captive finance subsidiary, CNH Industrial Capital, also provides financing of used equipment inventory. The Company also has floorplan payable balances with non-manufacturer lenders for new and used equipment inventory. Cash flows associated with manufacturer floorplan payables are reported as operating cash flows, while cash flows associated with non-manufacturer floorplan payables are reported as financing cash flows in the Company's consolidated statement of cash flows. The Company has three significant floorplan lines of credit for U.S. operations, floorplan credit facilities for its foreign subsidiaries, and other floorplan payable balances with non-manufacturer lenders and manufacturers. As of July 31, 2018, the Company had discretionary floorplan lines of credit for equipment inventory purchases totaling $611.8 million, which includes a $140.0 million floorplan payable line of credit under our second amended and restated credit agreement with Wells Fargo (the "Wells Fargo Credit Agreement"), a $320.0 million credit facility with CNH Industrial Capital, a $30.0 million credit facility with DLL Finance and the U.S. dollar equivalent of $121.8 million in credit facilities related to our foreign subsidiaries. Floorplan payables relating to these credit facilities totaled $349.4 million of the total floorplan payable balance of $365.6 million outstanding as of July 31, 2018 and $239.2 million of the total floorplan payable balance of $247.4 million outstanding as of January 31, 2018. The remaining outstanding balances relate to equipment inventory financing from manufacturers and non-manufacturer lenders other than the lines of credit described above. As of July 31, 2018, the interest-bearing U.S. floorplan payables carried various interest rates primarily ranging from 4.34% to 7.00%, and the foreign floorplan payables carried various interest rates primarily ranging from 0.93% to 8.08%. As of July 31, 2018, the Company had a compensating balance arrangement under one of its foreign floorplan credit facilities, which requires a minimum cash deposit to be maintained with the lender in the amount of $5.0 million for the term of the credit facility. Working Capital Line of Credit As of July 31, 2018, the Company had a $60.0 million working capital line of credit under the Wells Fargo Credit Agreement. The Company had no amount and $13.0 million outstanding on this line of credit as of July 31, 2018 and January 31, 2018. As of July 31, 2018, the working capital line of credit carried an interest rate of 4.34%. Wells Fargo Credit Agreement In February 2018, the Wells Fargo Credit Agreement was amended to (i) move the maturity testing date under the Wells Fargo Credit Agreement from November 1, 2018 to February 1, 2019, a date that is three months prior to the scheduled maturity date of the Company's outstanding senior convertible notes, and (ii) modify the maturity test calculation. The maturity date for the Wells Fargo Credit Agreement will remain October 28, 2020 so long as (i) the Company's fixed charge coverage ratio for the 12 month period ending December 31, 2018 is at least 1.1 to 1.0 and (ii) a liquidity test, requiring that the Company have unrestricted cash on hand plus excess borrowing availability under the Wells Fargo Credit Agreement (on a pro-forma basis reflecting the Company's repayment in full of its outstanding senior convertible notes) in an amount that is greater than 20% of the maximum credit amount under the facility, are met on February 1, 2019. If both financial tests are not satisfied on February 1, 2019, the Wells Fargo Credit Agreement will immediately mature and all amounts outstanding become immediately due and payable in full. CNH Industrial Capital Floorplan Payable Line of Credit In April 2018, the Company entered into an amendment to the credit facility with CNH Industrial Capital. The amendment decreased available borrowings under this facility from $450.0 million to $350.0 million. In May 2018, the Company entered into an additional amendment to the credit facility with CNH Industrial Capital. This amendment decreased our U.S. available borrowings under this facility from $350.0 million to $320.0 million. Concurrent with this amendment, CNH Industrial increased the available borrowing capacity of our international subsidiaries from $50.0 million to $80.0 million. DLL Finance Floorplan Payable Line of Credit In August 2018, the Company entered into an amendment to the credit facility with DLL Finance. The amendment, among other things, increased the available borrowings under this facility from $30.0 million to $45.0 million and decreased the variable interest rate on outstanding balances from three-month LIBOR plus an applicable margin of 3.5% per annum to three-month LIBOR plus an applicable margin of 3.0% per annum.

SENIOR CONVERTIBLE NOTES

6 Months Ended

Jul. 31, 2018

Senior Convertible Notes

SENIOR CONVERTIBLE NOTES

SENIOR CONVERTIBLE NOTES

The Company’s 3.75% senior convertible notes issued on April 24, 2012 (“senior convertible notes”) consist of the following:



	July 31, 2018			January 31, 2018
	(in thousands except conversion rate and conversion price)
Principal value	$	45,644		$	65,644
Unamortized debt discount	(1,061		)	(2,497		)
Unamortized debt issuance costs	(139		)	(328		)
Carrying value of senior convertible notes	$	44,444		$	62,819

Carrying value of equity component, net of deferred taxes	$	14,923		$	14,923

Conversion rate (shares of common stock per $1,000 principal amount of notes)	23.1626
Conversion price (per share of common stock)	$	43.17

During the six months ended July 31, 2018, the Company repurchased an aggregate of $20.0 million face value ($19.4 million carrying value) of its senior convertible notes with $20.0 million in cash. All consideration was attributed to the extinguishment of the liability and the Company recognized a pre-tax loss of $0.6 million on the repurchase. For the six months ended July 31, 2017, the Company repurchased an aggregate of $20.3 million face value ($18.8 million carrying value) of its senior convertible notes with $19.3 million in cash. Of the $19.3 million in total cash consideration, $18.7 million was attributed to the extinguishment of the liability and $0.6 million was attributed to the reacquisition of a portion of the equity component of the instrument. The Company recognized an immaterial net pre-tax gain on the extinguishment of the liability and recognized a $0.6 million after tax reduction in additional paid-in capital from the reacquisition of the equity component. In total, the Company has repurchased an aggregate of $104.4 million face value ($96.6 million carrying value) of its senior convertible notes with $95.1 million in cash. Gains and losses on repurchases are included in other interest expense in the Consolidated Statements of Operations.

The Company recognized interest expense associated with its senior convertible notes as follows:



	Three Months Ended July 31,				Six Months Ended July 31,
	2018		2017		2018		2017
	(in thousands)				(in thousands)
Cash Interest Expense
Coupon interest expense	$	546	$	708	$	1,151	$	1,491
Noncash Interest Expense
Amortization of debt discount	446		540		915		1,111
Amortization of transaction costs	59		74		123		154
	$	1,051	$	1,322	$	2,189	$	2,756

The senior convertible notes mature on May 1, 2019, unless purchased earlier by the Company, redeemed or converted. As of July 31, 2018, the unamortized debt discount will be amortized over a remaining period of nine months. As of July 31, 2018 and January 31, 2018, the if-converted value of the senior convertible notes did not exceed the principal balance. The effective interest rate of the liability component was equal to 7.3% for each of the consolidated statements of operations periods presented.

DERIVATIVE INSTRUMENTS

6 Months Ended

Jul. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS

The Company holds derivative instruments for the purpose of minimizing exposure to fluctuations in foreign currency exchange rates and benchmark interest rates to which the Company is exposed in the normal course of its operations.

Cash Flow Hedge

On October 9, 2013, the Company entered into a forward-starting interest rate swap instrument, which had a notional amount of $100.0 million, an effective date of September 30, 2014 and a maturity date of September 30, 2018. The objective of the instrument was to, beginning on September 30, 2014, protect the Company from changes in benchmark interest rates to which the Company was exposed through certain of its variable interest rate credit facilities. The instrument provided for a fixed interest rate of 1.901% up to the maturity date. The interest rate swap instrument was designated as a cash flow hedging instrument and accordingly changes in the effective portion of the fair value of the instrument have been recorded in other comprehensive income and only reclassified into earnings in the period(s) in which the related hedged item affects earnings or the anticipated underlying hedged transactions are no longer probable of occurring.

In April 2017, the Company elected to terminate the interest rate swap instrument. The Company paid $0.9 million to terminate the instrument. This cash payment is presented as a financing cash outflow in the consolidated statements of cash flows.

Derivative Instruments Not Designated as Hedging Instruments

The Company uses foreign currency forward contracts to hedge the effects of fluctuations in exchange rates on outstanding intercompany loans. The Company does not formally designate and document such derivative instruments as hedging instruments; however, the instruments are an effective economic hedge of the underlying foreign currency exposure. Both the gain or loss on the derivative instrument and the offsetting gain or loss on the underlying intercompany loan are recognized in earnings immediately, thereby eliminating or reducing the impact of foreign currency exchange rate fluctuations on net income.

The following table sets forth the notional value of the Company's outstanding derivative instruments.



	Notional Amount as of:
	July 31, 2018		January 31, 2018
	(in thousands)
Cash flow hedges:
Interest rate swap	$	—	$	—
Derivatives not designated as hedging instruments:
Foreign currency contracts	24,128		14,368

As of July 31, 2018 and January 31, 2018, the fair value of the Company's outstanding derivative instruments was not material. Derivative instruments recognized as assets are recorded in prepaid expenses and other in the consolidated balance sheet, and derivative instruments recognized as liabilities are recorded in accrued expenses and other in the consolidated balance sheet.

The following table sets forth the gains and losses (before the related income tax effects) recognized in other comprehensive income (loss) ("OCI") and income (loss) related to the Company’s derivative instruments for the three and six months ended July 31, 2018 and 2017:



	Three Months Ended July 31,									Six Months Ended July 31,
	2018				2017					2018				2017
	OCI		Income (Loss)		OCI		Income (Loss)			OCI		Income (Loss)		OCI		Income (Loss)
	(in thousands)									(in thousands)
Derivatives Designated as Hedging Instruments:
Cash flow hedges:
Interest rate swap ^(a)	—		—		—		(172		)	—		—		48		(986		)
Derivatives Not Designated as Hedging Instruments:
Foreign currency contracts ^(b)	—		588		—		(988		)	—		1,123		—		(1,056		)
Total Derivatives	$	—	$	588	$	—	$	(1,160	)	$	—	$	1,123	$	48	$	(2,042	)

^(a) No material hedge ineffectiveness has been recognized. The amounts shown in income (loss) above are reclassification amounts from accumulated other comprehensive income (loss) and are recorded in floorplan interest expense in the consolidated statements of operations.

^(b) Amounts are included in interest income and other income in the consolidated statements of operations.

During the three months ended April 30, 2017, the Company reclassified $0.6 million of pre-tax accumulated losses on its interest rate swap instrument from accumulated other comprehensive income (loss) to income as the original forecasted interest payments, which served as the hedged item underlying the interest rate swap instrument, were no longer probable of occurring during the time period over which such transactions were previously anticipated to occur.

FAIR VALUE OF FINANCIAL INSTRUMENTS

6 Months Ended

Jul. 31, 2018

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

As of July 31, 2018 and January 31, 2018, the fair value of the Company's foreign currency contracts, which are either assets or liabilities measured at fair value on a recurring basis, was not material. These foreign currency contracts were valued using a discounted cash flow analysis, an income approach, utilizing readily observable market data as inputs, which is classified as a Level 2 fair value measurement.

The Company also valued an immaterial amount of long-lived assets at fair value on a non-recurring basis as of July 31, 2018 as part of its long-lived asset impairment testing. The Company estimated the fair value of these assets based on estimated sales prices of similar assets, which are unobservable Level 3 fair value inputs. In certain instances the Company estimated the fair value of certain long-lived assets to approximate zero as no future cash flows were assumed to be generated from the use of such assets and the expected sales values were deemed to be nominal.

The Company also has financial instruments that are not recorded at fair value in its consolidated financial statements. The carrying amount of cash, receivables, payables, short-term debt and other current liabilities approximates fair value because of the short maturity and/or frequent repricing of those instruments, which are Level 2 fair value inputs. Based upon current borrowing rates for similar instruments with similar maturities, which are Level 2 fair value inputs, the carrying value of long-term debt approximates the fair value as of July 31, 2018 and January 31, 2018. The following table provides details on the senior convertible notes as of July 31, 2018 and January 31, 2018. The difference between the face value and the carrying value of these notes is the result of the allocation between the debt and equity components, and unamortized debt issuance costs. Fair value of the senior convertible notes was estimated based on Level 2 fair value inputs.



	July 31, 2018						January 31, 2018
	Estimated Fair Value		Carrying Value		Face Value		Estimated Fair Value		Carrying Value		Face Value
	(in thousands)						(in thousands)
Senior convertible notes	$	45,644	$	44,444	$	45,644	$	65,000	$	62,819	$	65,644

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

SEGMENT INFORMATION AND OPERATING RESULTS

6 Months Ended

Jul. 31, 2018

Segment Reporting [Abstract]

SEGMENT INFORMATION AND OPERATING RESULTS

The Company has three reportable segments: Agriculture, Construction and International. Revenue between segments is immaterial. The Company retains various unallocated income/(expense) items and assets at the general corporate level, which the Company refers to as “Shared Resources” in the table below. Shared Resources assets primarily consist of cash and property and equipment.

Certain financial information for each of the Company’s business segments is set forth below.



	Three Months Ended July 31,						Six Months Ended July 31,
	2018			2017			2018			2017
	(in thousands)						(in thousands)
Revenue
Agriculture	$	152,813		$	138,545		$	295,684		$	302,170
Construction	79,245			77,890			141,336			141,310
International	67,833			52,436			108,549			89,509
Total	$	299,891		$	268,871		$	545,569		$	532,989

Income (Loss) Before Income Taxes
Agriculture	$	4,960		$	(6,882	)	$	6,283		$	(10,779	)
Construction	(30		)	930			(2,927		)	(1,703		)
International	3,726			283			3,639			878
Segment income (loss) before income taxes	8,656			(5,669		)	6,995			(11,604		)
Shared Resources	(864		)	(1,541		)	(1,368		)	(5,016		)
Total	$	7,792		$	(7,210	)	$	5,627		$	(16,620	)



	July 31, 2018			January 31, 2018
	(in thousands)
Total Assets
Agriculture	$	428,877		$	400,017
Construction	244,101			211,154
International	172,248			126,251
Segment assets	845,226			737,422
Shared Resources	(5,777		)	22,886
Total	$	839,449		$	760,308

STORE CLOSINGS AND REALIGNMENT COST

6 Months Ended

Jul. 31, 2018

Restructuring and Related Activities [Abstract]

STORE CLOSINGS AND REALIGNMENT COSTS

In February 2017, to better align the Company's cost structure and business in certain markets, the Company announced a restructuring plan (the "Fiscal 2018 Restructuring Plan") to close one Construction location and 14 Agriculture locations. As of January 31, 2018, the Company had closed and fully exited all of these locations and had completed its Fiscal 2018 Restructuring Plan.

Restructuring costs associated with the Fiscal 2018 Restructuring Plan are summarized in the following table:



	Three Months Ended July 31,					Six Months Ended July 31,					Cumulative Amount
	2018		2017			2018		2017			Cumulative Amount
	(in thousands)
Lease accrual and terminations costs	$	565	$	4,069		$	565	$	4,322		$	6,246
Termination benefits	—		1,906			—		3,724			5,053
Impairment of fixed assets, net of gains on asset disposition	—		(565		)	—		(565		)	2,206
Asset relocation and other closing costs	—		139			—		412			516
	$	565	$	5,549		$	565	$	7,893		$	14,021

Restructuring charges associated with the Fiscal 2018 Restructuring Plan are summarized by segment in the following table:



	Three Months Ended July 31,				Six Months Ended July 31,
	2018		2017		2018		2017
	(in thousands)
Segment
Agriculture	$	233	$	5,194	$	233	$	6,672
Construction	332		252		332		338
International	—		—		—		—
Shared Resources	—		103		—		883
Total	$	565	$	5,549	$	565	$	7,893

A reconciliation of the beginning and ending exit cost liability balance associated with the Fiscal 2018 Restructuring Plan is as follows:



	Lease Accrual & Termination Costs			Termination Benefits			Total
	(in thousands)
Balance, January 31, 2018	$	5,393		$	404		$	5,797
Exist costs incurred and charged to expense	—			—			$	—
Adjustments	653			(17		)	$	636
Exit costs paid	(3,293		)	(387		)	$	(3,680	)
Balance, July 31, 2018	$	2,753		$	—		$	2,753

As of July 31, 2018 and January 31, 2018, $2.5 million and $4.8 million of the exit cost liability is included in other long-term liabilities and $0.3 million and $1.0 million are included in accrued expenses and other in the consolidated balance sheets.

In April 2018, the Company paid $3.0 million to terminate the real estate lease agreement for one of the Company's previously closed stores. The termination payment approximated the recorded lease accrual liability and therefore the impact to the consolidated statement of operations was not material. In July 2018, based on changes in circumstances, the Company revised its assumptions regarding the timing and amount of estimated future cash flows associated with its cease-use lease liabilities for certain of its closed store locations. The cumulative effect of these revised estimates resulted in the recognition of $0.6 million of additional expense, recognized as restructuring costs in the consolidated statement of operations, and a corresponding increase to the cease-use lease liability.

RELATED PARTY TRANSACTIONS (Notes)	6 Months Ended
RELATED PARTY TRANSACTIONS (Notes)	Jul. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 14 - RELATED PARTY TRANSACTIONS Effective February 1, 2017, the Company and Peter Christianson (our former President and former member of our Board of Directors), who is a brother of Tony Christianson (a member of our Board of Directors), agreed to terminate a consulting arrangement between the parties. In connection with the termination, the Company agreed to pay Mr. Peter Christianson the sum of $0.7 million, payable in two equal installments in fiscal 2018 and 2019. All unvested stock options and shares of restricted stock held by Mr. Peter Christianson will continue to vest as scheduled. As a result of the termination agreement, the Company recognized for the six months ended July 31, 2017, a total of $0.8 million in termination costs, consisting of $0.7 million for future cash payments owed to Mr. Peter Christianson and $0.1 million for unvested shares of restricted stock. These termination costs are included in restructuring costs in the consolidated statements of operations. As of July 31, 2018, all amounts owed to Mr. Peter Christianson had been paid in full.

CONTINGENCIES (Notes)	6 Months Ended
CONTINGENCIES (Notes)	Jul. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 15 - CONTINGENCIES On October 11, 2017, the Romania Competition Council (“RCC”) initiated an administrative investigation of the Romanian Association of Manufacturers and Importers of Agricultural Machinery (“APIMAR”) and all its members, including Titan Machinery Romania. The RCC's investigation involves whether the APIMAR members engaged in anti-competitive practices in their sales of agricultural machinery not involving European Union ("EU") subvention funding programs, by referring to the published sales prices governing EU subvention funded transactions, which prices are mandatorily disclosed to and published by AFIR, a Romanian government agency that oversees the EU subvention funding programs in Romania. The investigation is in a preliminary stage and the Company is currently unable to predict its outcome or reasonably estimate any potential loss that may result from the investigation. The Company is engaged in legal proceedings incidental to the normal course of business. Due to their nature, such legal proceedings involve inherent uncertainties, including but not limited to, court rulings, negotiations between affected parties and governmental intervention. Based upon the information available to the Company and discussions with legal counsel, it is the Company's opinion that the outcome of these various legal actions and claims will not have a material impact on the financial position, results of operations or cash flows. Such matters, however, are subject to many uncertainties, and the outcome of any matter is not predictable with assurance.

SUBSEQUENT EVENTS (Notes)

6 Months Ended

Jul. 31, 2018

Subsequent Events [Abstract]

Business Combination Disclosure [Text Block]

SUBSEQUENT EVENTS

On July 2, 2018, the Company, through a newly created, wholly-owned German subsidiary, acquired all interests of two commonly-controlled companies, AGRAM Landtechnikvertrieb GmbH and AGRAM Landtechnik Rollwitz GmbH (collectively "AGRAM"), for $19.2 million in cash consideration. AGRAM consists of four Case IH agriculture dealership locations in the following cities of Germany: Altranft, Burkau, Gutzkow, and Rollwitz. Founded in 1990, AGRAM has been a successful Case IH and Steyr dealership complex, and our acquisition of these entities provides the Company the opportunity to expand our international presence into the large, well-established German market.

Following the acquisition, the legal name of AGRAM Landtechnikvertrieb GmbH was changed to Titan Machinery Deutschland GmbH ("Titan Deutschland"). The Company has filed with the German Commercial Register to merge the three German legal entities into a single entity, with Titan Deutschland remaining as the surviving entity. The Company expects the merger to be finalized by the end of fiscal 2019.

Each of the Company’s foreign subsidiaries, including its Luxembourg domiciled holding subsidiary, which is the direct owner of the newly created, wholly-owned German subsidiary created to complete the acquisition, have fiscal quarters and a fiscal year-end equal to the calendar quarterly periods and year-end. Titan Deutschland also maintains fiscal quarters and a fiscal year-end equal to the calendar periods. The quarterly and annual financial statements of all of the Company's foreign subsidiaries are consolidated into the Company’s U.S. quarterly and annual fiscal periods that end on April 30^th, July 31^st, October 31^st and January 31^st. Accordingly, this July 2, 2018 foreign acquisition is a third-quarter transaction and therefore no amounts were recognized in the consolidated financial statements for the quarter ended July 31, 2018.

The acquisition has been accounted for under the acquisition method of accounting, which requires the Company to estimate the acquisition date fair value of the assets acquired and liabilities assumed. The fair value of the consideration paid exceeded the preliminarily estimated fair value of the assets acquired and liabilities assumed, which resulted in the recognition of $0.8 million of goodwill. The recognition of goodwill arose from the acquisition of an assembled workforce and anticipated synergies within our International segment. The entire goodwill amount will be assigned to the International segment and is not expected to be deductible for income tax purposes. The Company recognized a customer relationship intangible asset in the amount of $0.1 million, which will be amortized over a three-year period, and recognized a distribution rights intangible asset in the amount of $1.8 million that is an indefinite-lived intangible asset not subject to amortization. All acquisition-related costs, which amounted to $0.2 million, have been expensed as incurred and recognized as operating expenses in the consolidated statement of operations.

Due to the limited time since the acquisition, the estimated fair values of acquired assets and assumed liabilities are provisional estimates, but are based on the best information currently available. These provisional estimates are subject to change as the Company completes all remaining steps in finalizing the purchase price allocation. The Company expects to finalize the valuation of all assets and liabilities by January 31, 2019. The preliminary allocation of the purchase price to assets acquired and liabilities assumed is as follows:



(in thousands)
Assets acquired:
Cash	$	3,857
Receivables	5,341
Inventories	21,725
Prepaid expenses and other	887
Property and equipment	3,512
Intangible assets	1,944
Goodwill	765
Other	61
	$	38,092
Liabilities assumed:
Accounts payable	1,553
Floorplan payable	13,820
Deferred revenue	85
Accrued expenses and other	1,120
Long-term debt	1,725
Deferred income taxes	632
	$	18,935
Net assets acquired	$	19,157

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jul. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. The quarterly operating results for Titan Machinery Inc. (the “Company”) are subject to fluctuation due to varying weather patterns, which may impact the timing and amount of equipment purchases, rentals, and after-sales parts and service purchases by the Company’s Agriculture, Construction and International customers. Therefore, operating results for the six-month period ended July 31, 2018 are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2019. The information contained in the consolidated balance sheet as of January 31, 2018 was derived from the audited consolidated financial statements for the Company for the fiscal year then ended. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2018 as filed with the SEC.
Estimates	Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates, particularly related to realization of inventory, impairment of long-lived assets, collectability of receivables, and income taxes.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All material accounts, transactions and profits between the consolidated companies have been eliminated in consolidation. Reclassifications Certain reclassifications of amounts previously reported have been made to the accompanying consolidated statements of cash flows to maintain consistency and comparability between periods presented. These reclassifications had no impact on previously reported cash flows from operating, investing or financing activities.
Earnings (Loss) Per Share (EPS)	Earnings (Loss) Per Share (“EPS”) The Company uses the two-class method to calculate basic and diluted EPS. Unvested restricted stock awards are considered participating securities because they entitle holders to non-forfeitable rights to dividends during the vesting term. Under the two-class method, basic EPS was computed by dividing net income (loss) attributable to Titan Machinery Inc. after allocation of net income to participating securities by the weighted-average number of shares of common stock outstanding during the relevant period. In the event of a net loss, no amount of the loss is allocated to the participating securities as they do not share in the losses of the Company. Diluted EPS was computed by dividing net income (loss) attributable to Titan Machinery Inc. after allocation of net income to participating securities by the weighted-average shares of common stock outstanding after adjusting for potential dilution related to the conversion of all dilutive securities into common stock. All potentially dilutive securities were included in the computation of diluted EPS. All anti-dilutive securities were excluded from the computation of diluted EPS.
New Accounting Pronouncements	Recent Accounting Guidance Accounting guidance adopted In May 2014, the FASB issued authoritative guidance on accounting for revenue recognition, codified in Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers. This guidance is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The Company adopted ASC 606 as of February 1, 2018 using the modified retrospective method of adoption. Results for reporting periods beginning after February 1, 2018 are presented under the guidelines of ASC 606, while prior period amounts have not been adjusted and continue to be reported under the accounting standards in effect for those periods. Upon adoption of ASC 606, the Company did not recognize a cumulative effect adjustment of initially applying the standard as no material adjustments to contracts not completed as of the date of adoption were identified. The adoption of ASC 606 did not materially impact the amount of revenue recognized or any other financial statement line item as of and for the three and six months ended July 31, 2018. The Company has included the additional disclosures required under ASC 606 in Notes 2, 3 and 7. Accounting guidance not yet adopted In February 2016, the FASB amended authoritative guidance on leases, codified in ASC 842, Leases. The amended guidance requires lessees to recognize most leases on their balance sheets related to the rights and obligations created by those leases. The new standard also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. This guidance is effective for reporting periods beginning after December 15, 2018, with early adoption permitted. In July 2018, the FASB issued additional authoritative guidance providing companies with a new prospective transition method to apply the provisions of this guidance. The Company will elect this transition method applying the new lease standard on a prospective basis at the adoption date and recognize any cumulative-effect adjustments to the opening balance of retained earnings in the period of adoption. Prior period amounts will not be adjusted and will continue to be reported under the accounting standards in effect for those periods. The Company will adopt the new standard on February 1, 2019, and expects to elect the package of practical expedients afforded under the guidance. The practical expedient package applies to leases that commenced prior to adoption of the new standard and permits an entity not to: 1) reassess whether existing or expired contracts are or contain a lease, 2) reassess the lease classification, and 3) reassess any initial direct costs for any existing leases. We continue to evaluate if we will elect the use of hindsight to determine the lease term. Our implementation efforts to date have consisted of identifying the Company's lease population, selecting a lease software to implement that will assist with the reporting and disclosure requirements under the standard and abstracting and validating our lease information. While we continue to evaluate this standard, we anticipate this standard will have a material impact on our consolidated balance sheets due to the capitalization of a right-of-use asset and lease liability associated with our current operating leases in which we are the lessee, but we do not believe it will have a material impact on our consolidated statements of operations or cash flows. Our rental fleet and equipment inventory rental activities in which we are the lessor in the transaction are also subject to ASC 842. While our evaluation of the impact of this standard on our rental transactions is ongoing, we do not believe the standard will have a material impact on our consolidated balance sheets, statements of operations or cash flows for such transactions. In August 2017, the FASB amended authoritative guidance on hedge accounting, codified in ASC 815, Derivatives and Hedging. The amendments better align the accounting rules with a company's risk management activities, better reflects economic results of hedging in financial statements, and simplifies hedge accounting treatment. The guidance is effective for the Company as of the first quarter of its fiscal year ending January 31, 2020. The Company does not believe the update will have a material impact on its consolidated financial statements.

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jul. 31, 2018

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Schedule of calculation of basic and diluted EPS

The following table sets forth the calculation of basic and diluted EPS:



	Three Months Ended July 31,						Six Months Ended July 31,
	2018			2017			2018			2017
	(in thousands, except per share data)
Numerator:
Net income (loss)	$	5,180		$	(5,186	)	$	3,566		$	(11,118	)
Income allocated to participating securities	(80		)	—			(57		)	—
Net income (loss) attributable to Titan Machinery Inc. common stockholders	$	5,100		$	(5,186	)	$	3,509		$	(11,118	)
Denominator:
Basic weighted-average common shares outstanding	21,826			21,546			21,781			21,461
Plus: incremental shares from assumed exercises of stock options and vesting of restricted stock units	5			—			7			—
Diluted weighted-average common shares outstanding	21,831			21,546			21,788			21,461

Earnings (Loss) Per Share:
Basic	$	0.23		$	(0.24	)	$	0.16		$	(0.51	)
Diluted	$	0.23		$	(0.24	)	$	0.16		$	(0.51	)

Anti-dilutive shares excluded from diluted weighted-average common shares outstanding:
Stock options and restricted stock units	53			133			53			143
Shares underlying senior convertible notes	1,057			1,748			1,057			1,748

INVENTORIES (Tables)

6 Months Ended

Jul. 31, 2018

Inventory Disclosure [Abstract]

Schedule of inventories



	July 31, 2018		January 31, 2018
	(in thousands)
New equipment	$	346,145	$	258,559
Used equipment	127,644		141,450
Parts and attachments	71,373		71,110
Work in process	1,900		1,348
	$	547,062	$	472,467

PROPERTY AND EQUIPMENT (Tables)

6 Months Ended

Jul. 31, 2018

Property, Plant and Equipment [Abstract]

Schedule of property and equipment



	July 31, 2018			January 31, 2018
	(in thousands)
Rental fleet equipment	$	119,065		$	123,430
Machinery and equipment	22,123			22,025
Vehicles	39,296			37,741
Furniture and fixtures	39,911			39,851
Land, buildings, and leasehold improvements	62,985			62,243
	283,380			285,290
Less accumulated depreciation	(139,805		)	(134,243		)
	$	143,575		$	151,047

SENIOR CONVERTIBLE NOTES (Tables) - Senior Convertible Notes

6 Months Ended

Jul. 31, 2018

SENIOR CONVERTIBLE NOTES

Schedule of 3.75% Senior Convertible Notes

The Company’s 3.75% senior convertible notes issued on April 24, 2012 (“senior convertible notes”) consist of the following:



	July 31, 2018			January 31, 2018
	(in thousands except conversion rate and conversion price)
Principal value	$	45,644		$	65,644
Unamortized debt discount	(1,061		)	(2,497		)
Unamortized debt issuance costs	(139		)	(328		)
Carrying value of senior convertible notes	$	44,444		$	62,819

Carrying value of equity component, net of deferred taxes	$	14,923		$	14,923

Conversion rate (shares of common stock per $1,000 principal amount of notes)	23.1626
Conversion price (per share of common stock)	$	43.17

Senior Convertible Notes Interest Expense

The Company recognized interest expense associated with its senior convertible notes as follows:



	Three Months Ended July 31,				Six Months Ended July 31,
	2018		2017		2018		2017
	(in thousands)				(in thousands)
Cash Interest Expense
Coupon interest expense	$	546	$	708	$	1,151	$	1,491
Noncash Interest Expense
Amortization of debt discount	446		540		915		1,111
Amortization of transaction costs	59		74		123		154
	$	1,051	$	1,322	$	2,189	$	2,756

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jul. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of notional amounts of outstanding derivative positions

The following table sets forth the notional value of the Company's outstanding derivative instruments.



	Notional Amount as of:
	July 31, 2018		January 31, 2018
	(in thousands)
Cash flow hedges:
Interest rate swap	$	—	$	—
Derivatives not designated as hedging instruments:
Foreign currency contracts	24,128		14,368

Schedule of gains and losses recognized on derivative instruments



	Three Months Ended July 31,									Six Months Ended July 31,
	2018				2017					2018				2017
	OCI		Income (Loss)		OCI		Income (Loss)			OCI		Income (Loss)		OCI		Income (Loss)
	(in thousands)									(in thousands)
Derivatives Designated as Hedging Instruments:
Cash flow hedges:
Interest rate swap ^(a)	—		—		—		(172		)	—		—		48		(986		)
Derivatives Not Designated as Hedging Instruments:
Foreign currency contracts ^(b)	—		588		—		(988		)	—		1,123		—		(1,056		)
Total Derivatives	$	—	$	588	$	—	$	(1,160	)	$	—	$	1,123	$	48	$	(2,042	)

^(b) Amounts are included in interest income and other income in the consolidated statements of operations

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jul. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value of Senior Convertible Notes

The following table provides details on the senior convertible notes as of July 31, 2018 and January 31, 2018. The difference between the face value and the carrying value of these notes is the result of the allocation between the debt and equity components, and unamortized debt issuance costs. Fair value of the senior convertible notes was estimated based on Level 2 fair value inputs.



	July 31, 2018						January 31, 2018
	Estimated Fair Value		Carrying Value		Face Value		Estimated Fair Value		Carrying Value		Face Value
	(in thousands)						(in thousands)
Senior convertible notes	$	45,644	$	44,444	$	45,644	$	65,000	$	62,819	$	65,644

SEGMENT INFORMATION AND OPERATING RESULTS (Tables)

6 Months Ended

Jul. 31, 2018

Segment Reporting [Abstract]

Schedule of financial information of business segments

Certain financial information for each of the Company’s business segments is set forth below.



	Three Months Ended July 31,						Six Months Ended July 31,
	2018			2017			2018			2017
	(in thousands)						(in thousands)
Revenue
Agriculture	$	152,813		$	138,545		$	295,684		$	302,170
Construction	79,245			77,890			141,336			141,310
International	67,833			52,436			108,549			89,509
Total	$	299,891		$	268,871		$	545,569		$	532,989

Income (Loss) Before Income Taxes
Agriculture	$	4,960		$	(6,882	)	$	6,283		$	(10,779	)
Construction	(30		)	930			(2,927		)	(1,703		)
International	3,726			283			3,639			878
Segment income (loss) before income taxes	8,656			(5,669		)	6,995			(11,604		)
Shared Resources	(864		)	(1,541		)	(1,368		)	(5,016		)
Total	$	7,792		$	(7,210	)	$	5,627		$	(16,620	)



	July 31, 2018			January 31, 2018
	(in thousands)
Total Assets
Agriculture	$	428,877		$	400,017
Construction	244,101			211,154
International	172,248			126,251
Segment assets	845,226			737,422
Shared Resources	(5,777		)	22,886
Total	$	839,449		$	760,308

STORE CLOSINGS AND REALIGNMENT COST (Tables)

6 Months Ended

Jul. 31, 2018

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Costs by Type of Cost

Restructuring costs associated with the Fiscal 2018 Restructuring Plan are summarized in the following table:



	Three Months Ended July 31,					Six Months Ended July 31,					Cumulative Amount
	2018		2017			2018		2017			Cumulative Amount
	(in thousands)
Lease accrual and terminations costs	$	565	$	4,069		$	565	$	4,322		$	6,246
Termination benefits	—		1,906			—		3,724			5,053
Impairment of fixed assets, net of gains on asset disposition	—		(565		)	—		(565		)	2,206
Asset relocation and other closing costs	—		139			—		412			516
	$	565	$	5,549		$	565	$	7,893		$	14,021

Restructuring charges associated with the Fiscal 2018 Restructuring Plan are summarized by segment in the following table:



	Three Months Ended July 31,				Six Months Ended July 31,
	2018		2017		2018		2017
	(in thousands)
Segment
Agriculture	$	233	$	5,194	$	233	$	6,672
Construction	332		252		332		338
International	—		—		—		—
Shared Resources	—		103		—		883
Total	$	565	$	5,549	$	565	$	7,893

Restructuring Reserve Rollforward

A reconciliation of the beginning and ending exit cost liability balance associated with the Fiscal 2018 Restructuring Plan is as follows:



	Lease Accrual & Termination Costs			Termination Benefits			Total
	(in thousands)
Balance, January 31, 2018	$	5,393		$	404		$	5,797
Exist costs incurred and charged to expense	—			—			$	—
Adjustments	653			(17		)	$	636
Exit costs paid	(3,293		)	(387		)	$	(3,680	)
Balance, July 31, 2018	$	2,753		$	—		$	2,753

SUBSEQUENT EVENTS (Tables)

6 Months Ended

Jul. 31, 2018

Subsequent Events [Abstract]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The preliminary allocation of the purchase price to assets acquired and liabilities assumed is as follows:



(in thousands)
Assets acquired:
Cash	$	3,857
Receivables	5,341
Inventories	21,725
Prepaid expenses and other	887
Property and equipment	3,512
Intangible assets	1,944
Goodwill	765
Other	61
	$	38,092
Liabilities assumed:
Accounts payable	1,553
Floorplan payable	13,820
Deferred revenue	85
Accrued expenses and other	1,120
Long-term debt	1,725
Deferred income taxes	632
	$	18,935
Net assets acquired	$	19,157

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Anti-dilutive securities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 5,180	$ (5,186)	$ 3,566	$ (11,118)
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic	(80)	0	(57)	0
Net Income (Loss) Available to Common Stockholders, Basic	$ 5,100	$ (5,186)	$ 3,509	$ (11,118)
Denominator
Basic weighted-average common shares outstanding	21,826	21,546	21,781	21,461
Plus: incremental shares from assumed exercises of stock options and vesting of restricted stock units	5	0	7	0
Diluted weighted-average common shares outstanding	21,831	21,546	21,788	21,461
Earnings (Loss) per Share - Basic, in dollars per share	$ 0.23	$ (0.24)	$ 0.16	$ (0.51)
Earnings (Loss) per Share - Diluted, in dollars per share	$ 0.23	$ (0.24)	$ 0.16	$ (0.51)
Employee Stock Option
Anti-dilutive securities
Anti-dilutive securities excluded from the calculation of diluted EPS (in shares)	53	133	53	143
Convertible Notes
Anti-dilutive securities
Anti-dilutive securities excluded from the calculation of diluted EPS (in shares)	1,057	1,748	1,057	1,748
Conversion price of shares underlying convertible notes (in dollars per share)	$ 43.17		$ 43.17

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2018
Disaggregation of Revenue [Line Items]
Deferred Revenue	$ 22,731		$ 22,731		$ 32,324
Revenues	299,891	$ 268,871	545,569	$ 532,989
Unbilled Receivables, Current	14,492		14,492		10,967
Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenues	285,743		522,998
Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,753		3,213
Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	31,271		58,627
Parts Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	59,998		111,533
Rental Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	14,148		22,571
Equipment Revenue [member]
Disaggregation of Revenue [Line Items]
Revenues	192,721		349,625
Operating Segments [Member] \| Agriculture [Member]
Disaggregation of Revenue [Line Items]
Revenues	152,813	138,545	295,684	302,170
Operating Segments [Member] \| Agriculture [Member] \| Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenues	151,976		294,621
Operating Segments [Member] \| Agriculture [Member] \| Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,463		2,716
Operating Segments [Member] \| Agriculture [Member] \| Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	20,486		38,697
Operating Segments [Member] \| Agriculture [Member] \| Parts Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	35,796		67,979
Operating Segments [Member] \| Agriculture [Member] \| Rental Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	837		1,063
Operating Segments [Member] \| Agriculture [Member] \| Equipment Revenue [member]
Disaggregation of Revenue [Line Items]
Revenues	94,231		185,229
Operating Segments [Member] \| Construction [Member]
Disaggregation of Revenue [Line Items]
Revenues	79,245	77,890	141,336	141,310
Operating Segments [Member] \| Construction [Member] \| Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenues	66,565		120,684
Operating Segments [Member] \| Construction [Member] \| Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	216		389
Operating Segments [Member] \| Construction [Member] \| Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	9,699		18,165
Operating Segments [Member] \| Construction [Member] \| Parts Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	14,482		27,676
Operating Segments [Member] \| Construction [Member] \| Rental Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	12,680		20,652
Operating Segments [Member] \| Construction [Member] \| Equipment Revenue [member]
Disaggregation of Revenue [Line Items]
Revenues	42,168		74,454
Operating Segments [Member] \| International [Member]
Disaggregation of Revenue [Line Items]
Revenues	67,833	$ 52,436	108,549	$ 89,509
Operating Segments [Member] \| International [Member] \| Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenues	67,202		107,693
Operating Segments [Member] \| International [Member] \| Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	74		108
Operating Segments [Member] \| International [Member] \| Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,086		1,765
Operating Segments [Member] \| International [Member] \| Parts Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	9,720		15,878
Operating Segments [Member] \| International [Member] \| Rental Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	631		856
Operating Segments [Member] \| International [Member] \| Equipment Revenue [member]
Disaggregation of Revenue [Line Items]
Revenues	56,322		89,942
Deferred Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Deferred Revenue	$ 21,126		$ 21,126		$ 30,139

REVENUE Unbilled Receivables (Details) - USD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018
Unbilled Receivables [Abstract]
Unbilled Receivables, Current	$ 14,492	$ 10,967

REVENUE Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
REVENUE Deferred Revenue (Details) - USD ($) $ in Thousands	Jul. 31, 2018	Jul. 31, 2018	Jan. 31, 2018
Deferred Revenue Arrangement [Line Items]
Deferred Revenue	$ 22,731	$ 22,731	$ 32,324
Recognition of Deferred Revenue	(9,800)	(27,000)
Deferred Revenue from Operating Leases and Rental Contracts [Member]
Deferred Revenue Arrangement [Line Items]
Deferred Revenue	1,605	1,605	2,186
Deferred Revenue from Contracts with Customers [Member]
Deferred Revenue Arrangement [Line Items]
Deferred Revenue	$ 21,126	$ 21,126	$ 30,139

RECEIVABLES (Details) - USD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Current	$ 81,557	$ 63,623
Allowance for Doubtful Accounts Receivable	(3,146)	(2,951)
Accounts Receivable, Net, Current	78,411	60,672
Unbilled Receivables, Current	14,492	10,967
Unbilled Receivables from Operating Leases and Rental Contracts [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Current	1,458	847
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Current	35,071	25,396
Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Current	7,978	7,571
Trade Receivables due from Finance Companies [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Current	13,682	8,901
Receivables due from Manufacturers [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Current	8,404	8,805
Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Current	$ 472	$ 1,136

INVENTORIES (Details) - USD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018
Inventory Disclosure [Abstract]
New equipment	$ 346,145	$ 258,559
Used equipment	127,644	141,450
Parts and attachments	71,373	71,110
Work in process	1,900	1,348
Inventories	$ 547,062	$ 472,467

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018
PROPERTY AND EQUIPMENT
Property and equipment, gross	$ 283,380	$ 285,290
Less accumulated depreciation	(139,805)	(134,243)
Property and equipment, net	143,575	151,047
Rental fleet equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	119,065	123,430
Machinery and equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	22,123	22,025
Vehicles
PROPERTY AND EQUIPMENT
Property and equipment, gross	39,296	37,741
Furniture and fixtures
PROPERTY AND EQUIPMENT
Property and equipment, gross	39,911	39,851
Land, buildings, and leasehold improvements
PROPERTY AND EQUIPMENT
Property and equipment, gross	$ 62,985	$ 62,243

LINES OF CREDIT / FLOORPLAN PAYABLE (Details)	6 Months Ended	12 Months Ended
LINES OF CREDIT / FLOORPLAN PAYABLE (Details)	Jul. 31, 2018 USD ($) floorplan_line_of_credit	Dec. 31, 2018	Aug. 31, 2018 USD ($)	May 31, 2018 USD ($)	Apr. 30, 2018 USD ($)	Jan. 31, 2018 USD ($)
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Number of significant floorplan lines of credit \| floorplan_line_of_credit	3
Maximum borrowing capacity	$ 30,000,000		$ 45,000,000
Floorplan payable	365,634,000					$ 247,392,000
Compensating Balance, Amount	5,000,000
Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity	611,839,948
Floorplan payable	349,400,000					239,200,000
Floorplan Line of Credit \| Foreign
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity	$ 121,800,000
Floorplan Line of Credit \| Minimum [Member] \| U.S.
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate Terms	0.0434
Floorplan Line of Credit \| Minimum [Member] \| Foreign
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate Terms	0.0093
Floorplan Line of Credit \| Maximum [Member] \| U.S.
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate Terms	0.07
Floorplan Line of Credit \| Maximum [Member] \| Foreign
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate Terms	0.0808
Wells Fargo Credit Facility [Member] \| Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity	$ 140,000,000
CNH Industrial Capital Credit Facility \| Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity	320,000,000			$ 320,000,000
DLL Finance LLC [Member] \| Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity	30,000,000
Credit Facility \| Wells Fargo Credit Facility [Member] \| Working Capital Revolver Line
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity	$ 60,000,000
Amount outstanding						$ 13,000,000
Wells Fargo Credit Facility [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Line of Credit Facility, Covenant Compliance, Minimum Fixed Charge Coverage Ratio		1.1
International [Member] \| CNH Industrial Capital Credit Facility \| Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity				$ 80,000,000	$ 50,000,000

SENIOR CONVERTIBLE NOTES (Details)	Jul. 31, 2018
Convertible Notes
SENIOR CONVERTIBLE NOTES
Interest rate (as a percent)	3.75%

SENIOR CONVERTIBLE NOTES (Details 2) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2018 USD ($) $ / shares	Jul. 31, 2017 USD ($)	Jul. 31, 2018 USD ($) $ / shares	Jul. 31, 2017 USD ($)	Jan. 31, 2018 USD ($)
SENIOR CONVERTIBLE NOTES
Repayments of Convertible Debt			$ 20,025	$ 19,340
Convertible notes
Principal value	$ 45,644		45,644		$ 65,644
Coupon interest expense	2,490	$ 2,464	4,520	4,584
Convertible Notes
Convertible notes
Principal value	45,644		45,644		65,644
Unamortized debt discount	(1,061)		(1,061)		(2,497)
Unamortized debt issuance costs	(139)		(139)		(328)
Carrying value of senior convertible notes	44,444		44,444		62,819
Carrying value of equity component, net of deferred taxes	$ 14,923		$ 14,923		$ 14,923
Conversion rate			0.0231626
Conversion price (per share of common stock) \| $ / shares	$ 43.17		$ 43.17
Coupon interest expense	$ 546	708	$ 1,151	1,491
Amortization of debt discount	446	540	915	1,111
Amortization of transaction costs	59	74	123	154
Interest Expense	$ 1,051	$ 1,322	$ 2,189	$ 2,756
Remaining period over which unamortized debt discount will be amortized			9 months
Effective interest rate (as a percent)	7.30%	7.30%	7.30%	7.30%

DERIVATIVE INSTRUMENTS (Details 1) - USD ($)	Jul. 31, 2018	Jan. 31, 2018	Oct. 09, 2013
Interest Rate Swap \| Cash Flow Hedges
DERIVATIVE INSTRUMENTS
Fixed interest rate (as a percent)			1.901%
Notional amount outstanding			$ 100,000,000
Interest Rate Swap \| Designated as Hedging Instrument \| Cash Flow Hedges
DERIVATIVE INSTRUMENTS
Notional amount outstanding	$ 0	$ 0
Foreign currency contracts \| Not designated as hedging instruments
DERIVATIVE INSTRUMENTS
Notional amount outstanding	$ 24,128,000	$ 14,368,000

DERIVATIVE INSTRUMENTS DERIVATE INSTRUMENTS (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Foreign currency contracts
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Recognized in Other Comprehensive Income	$ 0		$ 0	$ 48
Amount of Gain (Loss) Recognized in Income	588	$ (1,160)	1,123	(2,042)
Foreign currency contracts \| Not designated as hedging instruments
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Recognized in Other Comprehensive Income	0		0	0
Amount of Gain (Loss) Recognized in Income	588	(988)	1,123	(1,056)
Interest Rate Swap \| Designated as Hedging Instrument \| Cash Flow Hedges
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Recognized in Other Comprehensive Income	0	0	0	48
Amount of Gain (Loss) Recognized in Income	$ 0	$ (172)	$ 0	$ (986)

DERIVATIVE INSTRUMENTS DERIVATIVE INSTRUMENTS NARRATIVE (Details) - Cash Flow Hedges $ in Millions	3 Months Ended
	Apr. 30, 2017 USD ($)
Interest Rate Swap
Derivative
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Before Tax	$ 0.6
Designated as Hedging Instrument [Member] \| Cash Paid to Terminate Interest Rate Swap [Member]
Derivative
Derivative, Description of Terms	0.9

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Principal value	$ 45,644	$ 65,644
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Senior Convertible Notes	45,644	65,000
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Senior Convertible Notes	$ 44,444	$ 62,819

SEGMENT INFORMATION AND OPERATING RESULTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2018
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	$ 299,891	$ 268,871	$ 545,569	$ 532,989
Income (Loss) Before Income Taxes	7,792	(7,210)	5,627	(16,620)
Total Assets	839,449		839,449		$ 760,308
Shared Resources
SEGMENT INFORMATION AND OPERATING RESULTS
Income (Loss) Before Income Taxes	(864)	(1,541)	(1,368)	(5,016)
Total Assets	(5,777)		(5,777)		22,886
Operating Segments
SEGMENT INFORMATION AND OPERATING RESULTS
Income (Loss) Before Income Taxes	8,656	(5,669)	6,995	(11,604)
Total Assets	845,226		845,226		737,422
Operating Segments \| Agriculture
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	152,813	138,545	295,684	302,170
Income (Loss) Before Income Taxes	4,960	(6,882)	6,283	(10,779)
Total Assets	428,877		428,877		400,017
Operating Segments \| Construction
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	79,245	77,890	141,336	141,310
Income (Loss) Before Income Taxes	(30)	930	(2,927)	(1,703)
Total Assets	244,101		244,101		211,154
Operating Segments \| International [Member]
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	67,833	52,436	108,549	89,509
Income (Loss) Before Income Taxes	3,726	$ 283	3,639	$ 878
Total Assets	$ 172,248		$ 172,248		$ 126,251

STORE CLOSINGS AND REALIGNMENT COST (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		13 Months Ended
	Jul. 31, 2018	Apr. 30, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2018
Realignment Costs
Restructuring Reserve	$ 2,753			$ 2,753		$ 5,797
Restructuring Charges				0
Amount of Realignment Cost Incurred	565		$ 5,549	565	$ 7,893	14,021
Restructuring Reserve, Noncurrent	2,500			2,500		4,800
Agriculture
Realignment Costs
Amount of Realignment Cost Incurred	233		5,194	233	6,672
Construction
Realignment Costs
Amount of Realignment Cost Incurred	332		252	332	338
International [Member]
Realignment Costs
Amount of Realignment Cost Incurred	0		0	0	0
Shared Resource Center
Realignment Costs
Amount of Realignment Cost Incurred	0		103	0	883
Lease accrual and terminations costs
Realignment Costs
Restructuring Reserve	2,753			2,753		5,393
Restructuring Charges				0
Restructuring Reserve, Current	300			300		1,000
Payments for Restructuring		$ 3,000
Lease accrual and terminations costs \| Realignment Cost
Realignment Costs
Amount of Realignment Cost Incurred	565		4,069	565	4,322	6,246
Termination benefits \| Realignment Cost
Realignment Costs
Amount of Realignment Cost Incurred	0		1,906	0	3,724	5,053
Impairment of fixed assets, net of gains on asset disposition \| Realignment Cost
Realignment Costs
Amount of Realignment Cost Incurred	0		(565)	0	(565)	2,206
Asset relocation and other closing costs \| Realignment Cost
Realignment Costs
Amount of Realignment Cost Incurred	$ 0		$ 139	$ 0	$ 412	$ 516

STORE CLOSINGS AND REALIGNMENT COST (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		13 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2018
Realignment Costs
Restructuring Reserve, Noncurrent	$ 2,500		$ 2,500		$ 4,800
Restructuring and Related Cost, Incurred Cost	565	$ 5,549	565	$ 7,893	14,021
Realignment Reserve [Roll Forward]
Balance, January 31, 2017			5,797
Exist costs incurred and charged to expense			0
Restructuring Reserve, Translation and Other Adjustment			636
Exit costs paid			3,680
Balance, July 31, 2016	2,753		2,753		5,797
Agriculture [Member]
Realignment Costs
Restructuring and Related Cost, Incurred Cost	233	5,194	233	6,672
Construction [Member]
Realignment Costs
Restructuring and Related Cost, Incurred Cost	332	252	332	338
International [Member]
Realignment Costs
Restructuring and Related Cost, Incurred Cost	0	0	0	0
Shared Resource Center [Member]
Realignment Costs
Restructuring and Related Cost, Incurred Cost	0	103	0	883
Contract Termination [Member]
Realignment Costs
Restructuring Reserve, Current	300		300		1,000
Realignment Reserve [Roll Forward]
Balance, January 31, 2017			5,393
Exist costs incurred and charged to expense			0
Restructuring Reserve, Translation and Other Adjustment			653
Exit costs paid			3,293
Balance, July 31, 2016	2,753		2,753		5,393
Special Termination Benefits [Member]
Realignment Reserve [Roll Forward]
Balance, January 31, 2017			404
Exist costs incurred and charged to expense			0
Restructuring Reserve, Translation and Other Adjustment			(17)
Exit costs paid			387
Balance, July 31, 2016	0		0		404
Realignment Cost [Member] \| Contract Termination [Member]
Realignment Costs
Restructuring and Related Cost, Incurred Cost	565	4,069	565	4,322	6,246
Realignment Cost [Member] \| Other Restructuring [Member]
Realignment Costs
Restructuring and Related Cost, Incurred Cost	0	139	0	412	516
Realignment Cost [Member] \| Employee Severance [Member]
Realignment Costs
Restructuring and Related Cost, Incurred Cost	0	1,906	0	3,724	5,053
Realignment Cost [Member] \| Impairment of Fixed Assets, Net of Gains on Asset Disposition [Member]
Realignment Costs
Restructuring and Related Cost, Incurred Cost	$ 0	$ (565)	$ 0	$ (565)	$ 2,206

INCOME TAXES INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract]
Income (Loss) Before Income Taxes	$ 7,792	$ (7,210)	$ 5,627	$ (16,620)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effective tax rate (as a percent)	(33.50%)	(28.10%)	(36.60%)	(33.10%)

RELATED PARTY TRANSACTIONS (Details) $ in Millions	6 Months Ended
RELATED PARTY TRANSACTIONS (Details) $ in Millions	Jul. 31, 2018 USD ($)
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$ 0.8
Cash Distribution [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0.7
Unvested Shares of Restricted Stock [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$ 0.1

SUBSEQUENT EVENTS (Details) $ in Thousands	6 Months Ended
SUBSEQUENT EVENTS (Details) $ in Thousands	Jul. 31, 2018 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Payments to Acquire Businesses, Gross	$ 19,200
Cash Acquired from Acquisition	3,857
Goodwill	800
Intangible Assets, Gross (Excluding Goodwill)	100
Indefinite-lived Intangible Assets Acquired	1,800
Business Combination, Acquisition Related Costs	200
Business Combination, Acquired Receivable, Fair Value	5,341
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	21,725
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	887
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	3,512
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	1,944
Goodwill, Acquired During Period	765
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other	61
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	38,092
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	1,553
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities	13,820
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue	85
Accrued Liabilities, Fair Value Disclosure	1,120
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt	1,725
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent	632
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	18,935
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ 19,157