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Document and Entity Information (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Jan. 31, 2014	Mar. 31, 2014	Jul. 31, 2013
Document and Entity Information
Entity Registrant Name	Titan Machinery Inc.
Entity Central Index Key	0001409171
Document Type	10-K
Document Period End Date	Jan. 31, 2014
Amendment Flag	false
Current Fiscal Year End Date	--01-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 330.7
Entity Common Stock, Shares Outstanding		21,256,281
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Jan. 31, 2014	Jan. 31, 2013
CURRENT ASSETS
Cash	$ 74,242	$ 124,360
Receivables, net	97,894	121,786
Inventories	1,075,978	929,216
Prepaid expenses and other	24,740	8,178
Income taxes receivable	851	503
Deferred income taxes	13,678	8,357
Total current assets	1,287,383	1,192,400
INTANGIBLES AND OTHER ASSETS
Noncurrent parts inventories	5,098	3,507
Goodwill	24,751	30,903
Intangible assets, net of accumulated amortization	11,750	14,089
Other	7,666	8,534
Total intangibles and other assets	49,265	57,033
Property and Equipment, net of accumulated depreciation	228,000	194,641
Total Assets	1,564,648	1,444,074
CURRENT LIABILITIES
Accounts payable	23,714	28,282
Floorplan payable	750,533	689,410
Current maturities of long-term debt	2,192	10,568
Customer deposits	61,286	46,775
Accrued expenses	36,968	29,590
Income taxes payable	344	310
Total current liabilities	875,037	804,935
LONG-TERM LIABILITIES
Senior convertible notes	128,893	125,666
Long-term debt, less current maturities	95,532	56,592
Deferred income taxes	47,329	47,411
Other long-term liabilities	6,515	9,551
Total long-term liabilities	278,269	239,220
Commitments and Contingencies
STOCKHOLDERS' EQUITY
Common stock, par value $.00001 per share; 45,000 shares authorized; 21,261 shares issued and outstanding at January 31, 2014 and 21,092 shares issued and outstanding at January 31, 2013
Additional paid-in-capital	238,857	236,521
Retained earnings	169,575	160,724
Accumulated other comprehensive income (loss)	339	(735)
Total Titan Machinery Inc. stockholders' equity	408,771	396,510
Noncontrolling interest	2,571	3,409
Total stockholders' equity	411,342	399,919
Total Liabilities and Stockholders' Equity	$ 1,564,648	$ 1,444,074

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jan. 31, 2014	Jan. 31, 2013
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, authorized shares	45,000,000	45,000,000
Common stock, issued shares	21,261,000	21,092,000
Common stock, outstanding shares	21,261,000	21,092,000

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012
REVENUE
Equipment	$ 1,722,738	$ 1,763,877	$ 1,303,900
Parts	275,750	242,368	201,404
Service	149,082	127,779	103,474
Rental and other	78,876	64,396	50,214
TOTAL REVENUE	2,226,446	2,198,420	1,658,992
COST OF REVENUE
Equipment	1,576,246	1,600,233	1,171,618
Parts	192,199	169,164	140,096
Service	54,608	45,748	37,236
Rental and other	55,319	43,914	34,581
TOTAL COST OF REVENUE	1,878,372	1,859,059	1,383,531
GROSS PROFIT	348,074	339,361	275,461
OPERATING EXPENSES	291,202	247,557	193,860
Impairment	9,997	0	0
INCOME FROM OPERATIONS	46,875	91,804	81,601
OTHER INCOME (EXPENSE)
Interest and other income	2,109	1,654	1,643
Floorplan interest expense	(16,764)	(13,297)	(8,323)
Other interest expense	(13,791)	(9,465)	(1,347)
INCOME BEFORE INCOME TAXES	18,429	70,696	73,574
PROVISION FOR INCOME TAXES	(10,325)	(28,137)	(29,429)
NET INCOME INCLUDING NONCONTROLLING INTEREST	8,104	42,559	44,145
LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTEREST	(747)	86	(15)
NET INCOME ATTRIBUTABLE TO TITAN MACHINERY INC.	$ 8,851	$ 42,473	$ 44,160
EARNINGS PER SHARE-NOTE 1
EARNINGS PER SHARE-BASIC (in dollars per share)	$ 0.42	$ 2.02	$ 2.21
EARNINGS PER SHARE-DILUTED (in dollars per share)	$ 0.41	$ 2.00	$ 2.18
WEIGHTED AVERAGE COMMON SHARES-BASIC (in shares)	20,894	20,787	19,809
WEIGHTED AVERAGE COMMON SHARES-DILUTED (in shares)	21,040	20,987	20,110

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012
Statement of Comprehensive Income [Abstract]
Net income including noncontrolling interest	$ 8,104	$ 42,559	$ 44,145
Other Comprehensive Income (Loss)
Foreign currency translation adjustments	2,314	(299)	(94)
Unrealized gain (loss) on net investment hedge derivative instruments (net of tax of $114 and ($325) for the years ended January 31, 2014 and 2013, respectively)	170	(509)
Unrealized loss on interest rate swap cash flow hedge derivative instruments (net of tax of ($490) for the year ended January 31, 2014)	(737)	0	0
Unrealized loss on foreign currency contract cash flow hedge derivative instruments (net of tax of ($85) for the year ended January 31, 2014)	(126)	0	0
Total Other Comprehensive Income (Loss)	1,621	(808)	(94)
COMPREHENSIVE INCOME	9,725	41,751	44,051
COMPREHENSIVE LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST	(200)	(57)	(39)
COMPREHENSIVE INCOME ATTRIBUTABLE TO TITAN MACHINERY INC.	$ 9,925	$ 41,808	$ 44,090

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2013
Unrealized loss on net investment hedge derivative instruments tax portion	$ 114	$ (325)
Designated as Hedging Instrument [Member] \| Interest Rate Contract
Unrealized loss on hedge derivative instruments, tax expense (benefit)	(490)
Designated as Hedging Instrument [Member] \| Cash Flow Hedging
Unrealized loss on hedge derivative instruments, tax expense (benefit)	$ (85)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) In Thousands, unless otherwise specified	Total	Noncontrolling Interest	Total Titan Machinery Inc. Stockholders' Equity	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Translation Adjustment	Net Investment Hedges	Accumulated Net Unrealized Investment Gain (Loss)	Interest Rate Contract	Cash Flow Hedging	Accumulated Other Comprehensive Loss
BALANCE at Jan. 31, 2011	$ 214,557		$ 214,557		$ 140,466	$ 74,091
BALANCE (in shares) at Jan. 31, 2011				17,917
Increase (Decrease) in Stockholders' Equity
Common stock issued in follow-on offering	74,898		74,898		74,898
Common stock issued in follow-on offering (in shares)				2,760
Common stock issued on grant of restricted stock, exercise of stock options and warrants, and tax benefits of equity awards	1,663		1,663		1,663
Common stock issued on grant of restricted stock, exercise of stock options and warrants, and tax benefits of equity awards (in shares)				234
Issuance of subsidiary shares to noncontrolling interest holders	802	1,041	(239)		(239)
Stock-based compensation expense	1,368		1,368		1,368
Comprehensive income:
Net income (loss)	44,145	(15)	44,160			44,160
Other comprehensive loss	(94)	(24)	(70)				(70)					(70)
COMPREHENSIVE INCOME	44,051	(39)	44,090
BALANCE at Jan. 31, 2012	337,339	1,002	336,337		218,156	118,251	(70)					(70)
BALANCE (in shares) at Jan. 31, 2012				20,911
Increase (Decrease) in Stockholders' Equity
Senior convertible notes offering	15,546		15,546		15,546
Common stock issued on grant of restricted stock, exercise of stock options and warrants, and tax benefits of equity awards	1,189		1,189		1,189
Common stock issued on grant of restricted stock, exercise of stock options and warrants, and tax benefits of equity awards (in shares)				181
Issuance of subsidiary shares to noncontrolling interest holders	2,464	2,464
Stock-based compensation expense	1,630		1,630		1,630
Comprehensive income:
Net income (loss)	42,559	86	42,473			42,473
Other comprehensive loss	(808)	(143)	(665)				(156)	(509)				(665)
COMPREHENSIVE INCOME	41,751	(57)	41,808
BALANCE at Jan. 31, 2013	399,919	3,409	396,510		236,521	160,724	(226)		(509)			(735)
BALANCE (in shares) at Jan. 31, 2013				21,092
Increase (Decrease) in Stockholders' Equity
Common stock issued on grant of restricted stock, exercise of stock options and warrants, and tax benefits of equity awards	254		254		254
Common stock issued on grant of restricted stock, exercise of stock options and warrants, and tax benefits of equity awards (in shares)				147
Stock-based compensation expense	2,131		2,131		2,131
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(687)	(638)	(49)	22	(49)
Comprehensive income:
Net income (loss)	8,104	(747)	8,851			8,851
Other comprehensive loss	1,621	547	1,074				1,767	170		(737)	(126)	1,074
COMPREHENSIVE INCOME	9,725	(200)	9,925
BALANCE at Jan. 31, 2014	$ 411,342	$ 2,571	$ 408,771		$ 238,857	$ 169,575	$ 1,541		$ (339)	$ (737)	$ (126)	$ 339
BALANCE (in shares) at Jan. 31, 2014				21,261

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012
OPERATING ACTIVITIES
Net income including noncontrolling interest	$ 8,104	$ 42,559	$ 44,145
Adjustments to reconcile net income including noncontrolling interest to net cash used for operating activities
Depreciation and amortization	30,794	23,464	15,263
Impairment	9,997	0	0
Deferred income taxes	(4,939)	6,108	16,029
Stock-based compensation expense	2,131	1,630	1,368
Noncash interest expense	4,537	3,440	535
Other, net	(1,049)	(1,171)	(233)
Changes in assets and liabilities, net of purchase of equipment dealerships assets and assumption of liabilities
Receivables, prepaid expenses and other assets	13,067	(41,598)	(32,695)
Inventories	(182,374)	(169,919)	(305,268)
Manufacturer floorplan payable	27,630	20,189	47,866
Accounts payable, customer deposits, accrued expenses and other long-term liabilities	10,173	(2,739)	36,428
Income taxes	(314)	2,712	(5,623)
NET CASH USED FOR OPERATING ACTIVITIES	(82,243)	(115,325)	(182,185)
INVESTING ACTIVITIES
Rental fleet purchases	(783)	(13,358)	(2,642)
Property and equipment purchases (excluding rental fleet)	(18,227)	(26,474)	(18,780)
Net proceeds from sale of property and equipment	16,712	8,422	3,342
Purchase of equipment dealerships, net of cash purchased	(4,848)	(31,877)	(48,448)
Other, net	69	(825)	(99)
NET CASH USED FOR INVESTING ACTIVITIES	(7,077)	(64,112)	(66,627)
FINANCING ACTIVITIES
Proceeds from senior convertible notes offering, net of direct issuance costs of $4,753		145,247
Proceeds from follow-on offering of common stock, net of underwriting discount of $4,166 and other direct costs of $286			74,898
Net change in non-manufacturer floorplan notes payable	31,395	108,417	168,118
Proceeds from long-term debt borrowings	143,918	113,967	37,832
Principal payments on long-term debt	(133,960)	(145,509)	(30,067)
Proceeds from sale of subsidiary shares to noncontrolling interest holders		2,464	802
Other, net	(1,550)	(359)	990
NET CASH PROVIDED BY FINANCING ACTIVITIES	39,803	224,227	252,573
Effect of Exchange Rate Changes on Cash	(601)	(272)	(31)
Net Change in Cash	(50,118)	44,518	3,730
Cash at Beginning of Period	124,360	79,842	76,112
Cash at End of Period	74,242	124,360	79,842
Cash paid during the period
Income taxes, net of refunds	15,729	18,625	18,733
Interest	26,134	17,733	9,004
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES
Net property and equipment financed with long-term debt	22,242	36,482	9,755
Net transfer of assets to property and equipment from inventories	41,582	15,374	36,377
Net transfer of financing to long-term debt from floorplan notes payable			$ 1,696

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jan. 31, 2013	Jan. 31, 2012
Statement of Cash Flows [Abstract]
Direct issuance costs	$ 4,753
Net underwriting discount		4,166
Other direct costs	$ 286

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jan. 31, 2014

Accounting Policies [Abstract]

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES

Nature of Business

Titan Machinery Inc. (the "Company") is engaged in the retail sale, service and rental of agricultural and construction machinery through 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.

Seasonality

The agricultural and construction equipment businesses are highly seasonal, which causes our quarterly results and our available cash flow to fluctuate during the year. Farmers generally purchase agricultural equipment in preparation for, or in conjunction with, the spring planting and fall harvesting seasons. In addition, the fourth quarter typically is a significant period for equipment sales in the U.S. because of our customers’ year-end tax planning considerations, the timing of dealer incentives and the increase in availability of funds from completed harvests.

Principles of Consolidation

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

The accounts of the Company's foreign subsidiaries are consolidated as of December 31 of each year. No events occurred related to these subsidiaries in January 2014 that would have materially affected the consolidated financial position, results of operations or cash flows.

Reclassifications

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

Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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, initial valuation and impairment analyses of intangible assets and goodwill, collectability of receivables, and income taxes.

Concentrations of Credit Risk

The Company's sales are to agricultural and construction equipment customers principally in the states and European countries in which its stores are located. The Company extends credit to its customers in the ordinary course of business and monitors its customers' financial condition to minimize its risks associated with trade receivables; however, the Company does not generally require collateral on trade receivables.

The Company's cash balances are maintained in bank deposit accounts, which are in excess of federally insured limits.

Concentrations in Operations

The Company currently purchases new equipment, rental equipment and the related parts from a limited number of manufacturers. Although no change in suppliers is anticipated, the occurrence of such a change could cause a possible loss of sales and adversely affect operating results. The Company is the holder of authorized dealerships granted by CNH America, LLC and CNH International SA (collectively referred to "CNH") whereby it has the right to act as an authorized dealer for the entities' equipment. The dealership authorizations and floorplan payable facilities can be cancelled by the respective entity if the Company does not observe certain established guidelines and covenants.

In addition, the Company believes that the following factors related to concentrations in suppliers, and in particular CNH, have a significant impact on our operating results:

•CNH's product offerings, reputation and market share

•CNH's product prices and incentive and discount programs

•Supply of inventory from CNH

•CNH provides floorplan payable financing for the purchase of a substantial portion of our inventory


•	CNH provides a significant percentage of the financing used by our customers to purchase CNH equipment from us.

Receivables and Credit Policy

Trade accounts receivable due from customers are uncollateralized customer obligations due under normal trade terms requiring payment within 30 days from the invoice date. Balances unpaid after 30 days are considered past due and begin to accrue interest. Payments of trade receivables are allocated to the specific invoices identified on the customer's remittance advice or, if unspecified, are applied to the earliest unpaid invoices. Trade accounts receivable due from manufacturers relate to discount programs, incentive programs and repair services performed on equipment with a remaining factory warranty. Trade accounts receivable due from finance companies primarily consist of contracts in transit with finance companies and balances due from credit card companies. These receivables do not generally have established payment terms but are collected in relatively short time periods.

The carrying amount of trade receivables is reduced by a valuation allowance that reflects management's best estimate of the amounts that will not be collected. Management reviews aged receivable balances and estimates the portion, if any, of the balance that will not be collected. Account balances are charged off after all appropriate means of collection have been exhausted and the potential for recovery is considered remote.

Inventories

New and used equipment are stated at the lower of cost (specific identification) or market value with adjustments for decreases in market value on inventory rented but available for sale, estimated as a percentage of the rental income received on such inventory. All new and used equipment inventories, including that which has been rented, are subject to periodic lower of cost or market evaluation that considers various factors including aging of equipment and market conditions. Equipment inventory values are adjusted whenever the carrying amount exceeds the estimated market value. Parts inventories are valued at the lower of average cost or market value. An estimate of parts inventories not expected to be sold in the next year has been reported separately, which is based on historical sales of parts on hand. The Company estimates a reserve on its parts inventories based on various factors including aging and sales of each type of parts inventory. Work in process is valued at the retail rates of labor incurred and parts inventories used on service work in process at year end.

Property and Equipment

Property and equipment is carried at cost less accumulated depreciation and amortization. Depreciation and amortization are computed on a straight-line basis over the estimated useful life of each asset, as summarized below:



Buildings and leasehold improvements	Lesser of 10 - 40 years or lease term
Machinery and equipment	3 - 10 years
Furniture and fixtures	3 - 10 years
Vehicles	5 - 10 years
Rental fleet	3 - 10 years

Depreciation for income tax reporting purposes is computed using accelerated methods.

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the net assets, including identifiable intangible assets, of the businesses acquired. Goodwill is not amortized, but is tested for impairment annually, or more frequently upon the occurrence of certain events or when circumstances indicate that impairment may be present. The Company performs its annual impairment test as of the end of its fiscal year.

Goodwill is tested for impairment at the reporting unit level. A reporting unit is defined as an operating segment or one level below an operating segment (referred to as a component). A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component. The Company identified four reporting units which carried a goodwill balance prior to impairment recorded in the current year: the Agriculture operating segment, the Construction operating segment, and the Romanian and Serbian components within the International operating segment.

The goodwill impairment analysis is performed under a two-step impairment model. Step one of the analysis compares the estimated fair value of a reporting unit to its carrying value. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. However, if the carrying amount of a reporting unit exceeds its fair value, the second step of the impairment test is performed to measure the amount of impairment, if any. The second step measures the amount of impairment loss, if any, by comparing the implied fair value of goodwill, which is estimated by comparing the estimated fair value of the reporting unit to the fair value of the underlying assets and liabilities of the reporting unit. An impairment charge is recognized for any excess of the carrying value of goodwill over the implied fair value. See Note 5 for details and results of the Company's impairment testing in the years ended January 31, 2014 and 2013.

Intangible Assets

Intangible assets with a finite life consist of customer relationships and covenants not to compete, and are carried at cost less accumulated amortization. The Company amortizes the cost of identified intangible assets on a straight-line basis over the expected period of benefit, which is three for customer relationships and the contractual term for covenants not to compete, which range from three to ten.

Intangible assets with an indefinite life consist of distribution rights with manufacturers. Distribution rights are classified as an indefinite-lived intangible asset because the Company's distribution agreements continue indefinitely by their terms, or are routinely awarded or renewed without substantial cost or material modifications to the underlying agreements. As such, the Company believes that its distribution rights intangible assets will contribute to its cash flows for an indefinite period; therefore, the carrying amount of distribution rights is not amortized, but is tested for impairment annually, or more frequently upon the occurrence of certain events or when circumstances indicate that impairment may be present. The Company performs its annual impairment test as of December 31st of each year. The impairment test is performed by comparing the carrying value to its estimated fair value.

Indefinite-lived intangible assets are tested for impairment at the lowest level in which identifiable cash flows can be attributed to the asset. The Company has determined that the lowest level of cash flows which can be attributed to the distribution rights intangible assets is equal to the store, or complex of stores, acquired in the business combination which resulted in the initial recognition of the intangible asset, plus any additional store locations operating within the geographical area of the distribution rights. See Note 5 for details and results of the Company's impairment testing in the years ended January 31, 2014 and 2013.

Impairment of Long-Lived Assets

The Company's long-lived assets consist of property and equipment and intangible assets. These assets are reviewed for potential impairment when events or circumstances indicate that the carrying value may not be recoverable. Recoverability is measured by comparing the estimated future undiscounted cash flows of such assets to their carrying values. If the estimated undiscounted cash flows exceed the carrying value, the carrying value is considered recoverable and no impairment recognition is required. However, if the sum of the undiscounted cash flows is less than the carrying value of the asset, the second step of the impairment analysis must be performed to measure the amount of the impairment, if any. The second step of the impairment analysis compares the estimated fair value of the long-lived asset to its carrying value and any amount by which the carrying value exceeds the fair value is recognized as an impairment charge.

As of January 31, 2014, the Company determined that the current period operating loss combined with historical losses and anticipated future operating losses within certain of its stores in its Construction segment was an indication that certain long-lived assets of these stores may not be recoverable. The asset types included in the assessment included immovable long-lived assets (e.g., leasehold improvements) and other assets in which it would be impracticable to redeploy to other locations (e.g., furniture and fixtures). The Company performed the impairment analyses for these assets and determined that the carrying values are not recoverable based on its estimates of future undiscounted cash flows under step one of the impairment analysis. Based on this conclusion, step two of the impairment analysis was performed and estimated the fair value of these assets using a discounted cash flow model. The results of the analyses indicated that a full impairment charge was necessary, and thus an impairment loss of $1.5 million, was recognized and included in the Impairment amount in the consolidated statements of operations, all of which impacted the Construction segment.

Derivative Instruments

In the normal course of business, the Company is subject to risk from adverse fluctuations in foreign currency exchange rates and benchmark interest rates. The Company manages its market risk exposures through a program that includes the use of derivative instruments, primarily foreign exchange forward contracts and interest rate derivatives. The Company's objective in managing its exposure to market risk is to minimize the impact on earnings, cash flows and the consolidated balance sheet. The Company does not use derivative instruments for trading or speculative purposes.

All outstanding derivative instruments are recognized in the consolidated balance sheet at fair value. The effect on earnings from recognizing the fair value of the derivative instrument depends on its intended use, the hedge designation, and the effectiveness in offsetting the exposure of the underlying hedged item. Changes in fair values of instruments designated to reduce or eliminate fluctuations in the fair values of recognized assets and liabilities and unrecognized firm commitments are reported currently in earnings along with the change in the fair value of the hedged items. Changes in the effective portion of the fair values of derivative instruments used to reduce or eliminate fluctuations in cash flows of forecasted transactions are reported in other comprehensive income, a component of stockholders' equity. Amounts accumulated in other comprehensive income are reclassified to earnings when the related hedged items affect earnings or the anticipated transactions are no longer probable. Changes in the fair value of derivative instruments designated to reduce or eliminate fluctuations in the net investment of a foreign subsidiary are reported in other comprehensive income. Changes in the fair value of derivative instruments that are not designated as hedging instruments or do not qualify for hedge accounting treatment are reported currently in earnings.

For derivative instruments accounted for as hedging instruments, the Company formally designates and documents, at inception, the instrument as a hedge of a specific underlying exposure, the risk management objective and the manner by which the effectiveness of the hedging instrument will be evaluated. At each reporting period after inception, the Company evaluates the hedging instrument's effectiveness in reducing or eliminating the underlying hedged exposure. Any hedge ineffectiveness is recognized in earnings immediately.

Fair Value Measurements

Fair value is defined as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. Three levels of inputs may be used to measure fair value:

Level 1—Values derived from unadjusted quoted prices in active markets for identical assets and liabilities.

Level 2—Values derived from observable inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets in markets that are not active.

Level 3—Values derived from unobservable inputs for which there is little or no market data available, thereby requiring the reporting entity to develop its own assumptions.

In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety.

Customer Deposits

Customer deposits consist of advance payments from customers, in the form of cash or equipment to be traded-in.

Income Taxes

The Company uses the asset and liability method to account for income taxes. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the carrying amounts of assets and liabilities and their respective tax bases. Deferred tax assets are reduced by a valuation allowance when it is more likely than not that a portion or all of the deferred tax assets will not be realized. Changes in valuation allowances are included in its provision for income taxes in the period of the change.

The Company recognizes the financial statement benefit of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured as the largest amount that has a greater than 50% likelihood of being realized. Changes in the recognition or measurement of such positions are reflected in its provision for income taxes in the period of the change. The Company's policy is to recognize interest expense and penalties related to income tax matters within its provision for income taxes.

Earnings Per Share

The Company uses the two-class method to calculate basic and diluted earnings per share. 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 earnings per share were computed by dividing net income attributable to Titan Machinery Inc. after allocation of income to participating securities by the weighted-average number of shares of common stock outstanding during the year.

Diluted earnings per share were computed by dividing net income attributable to Titan Machinery Inc. after allocation of 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 earnings per share. There were approximately 99,000, 10,000 and 119,000 stock options outstanding as of January 31, 2014, 2013 and 2012, respectively, which were not included in the computation of diluted earnings per share because they were anti-dilutive. None of the approximately 3,474,000 shares underlying the Company's Senior Convertible Notes were included in the computation of diluted earnings per share because the Company's average stock price was less than the conversion price of $43.17.

The following table sets forth the calculation of basic and diluted earnings per share:



	2014			2013			2012
	(in thousands, except per share data)
Numerator
Net Income Attributable to Titan Machinery Inc.	$	8,851		$	42,473		$	44,160
Net Income Allocated to Participating Securities	(129		)	(443		)	(409		)
Net Income Attributable to Titan Machinery Inc. Common Stockholders	$	8,722		$	42,030		$	43,751
Denominator
Basic Weighted-Average Common Shares Outstanding	20,894			20,787			19,809
Plus: Incremental Shares From Assumed Conversions of Stock Options and Warrants	146			200			301
Diluted Weighted-Average Common Shares Outstanding	21,040			20,987			20,110
Earnings per Share - Basic	$	0.42		$	2.02		$	2.21
Earnings per Share - Diluted	$	0.41		$	2.00		$	2.18

Revenue Recognition

Equipment revenue is generally recognized upon receipt of a signed sales contract and delivery of product to customers. However, in certain circumstances customers request a bill and hold arrangement, in which case equipment revenue is recognized before delivery occurs. Under these bill and hold arrangements, the equipment is available for shipment, the Company has fulfilled all of its pre-delivery performance obligations and received a signed sales contract, and the customer has completed and signed a bill and hold agreement. Credit terms on bill and hold arrangements are consistent with credit terms on all other equipment sales. Parts revenue is recognized upon delivery of product to customers. Service revenue is recognized at the time the related services are provided. Rental revenue is recognized over the period of the related rental agreement. In addition to outright sales of new and used equipment, certain rental agreements may include rent-to-purchase options. Under these agreements, customers are given a period of time to exercise an option to purchase the related equipment, with a portion of the rental payments being applied to reduce the purchase price. Payments received during the rental period are recorded as rental revenue. Any such equipment is included in inventory until the purchase option is exercised, and the carrying value of the equipment is reduced in accordance with the Company's aforementioned policy. Equipment revenue is recognized upon the exercise of the purchase option.

Sales, Excise and Value Added Taxes

The Company has customers in states and municipalities in which those governmental units impose a sales tax on certain sales. The U.S. federal government imposes excise taxes on certain sales. Certain governments of the foreign countries in which the Company operates impose value added taxes on certain sales. The Company collects those sales and excise taxes from its customers and remits the entire amount to the various governmental units. The Company's accounting policy is to exclude the tax collected and remitted from revenue and cost of revenue.

Shipping and Handling Costs

Shipping and handling costs are recorded as cost of revenue and amounts billed to customers for shipping and handling costs are recorded in revenue.

Lessor Accounting

The Company leases equipment from its rental fleet and equipment inventory to customers on operating leases over periods primarily less than one year. These leases require a minimum rental payment and contingent rental payment based on machine hours. Rental revenue totaled $68.6 million, $54.6 million and $42.0 million for the years ended January 31, 2014, 2013 and 2012, respectively. As of January 31, 2014, the Company had $145.0 million of rental fleet included in property and equipment, net of accumulated depreciation of $29.1 million. As of January 31, 2013, the Company had $105.7 million of rental fleet included in property and equipment, net of accumulated depreciation of $16.8 million.

Manufacturer Incentives and Discounts

The Company receives various manufacturer incentives and discounts, which are based on a variety of factors. The Company accounts for such programs in accordance with the provisions of ASC 605-50, Customer's Accounting for Certain Consideration Received from a Vendor. Discounts and incentives related to the purchase of inventory are recognized as a reduction of inventory prices and recognized as a reduction of cost of revenue when the related inventory is sold. Sales-related discounts and incentives are recognized as a reduction of cost of revenue when the related inventory is sold. Financing-related incentives are recognized as other income when earned. Other incentives, reflecting reimbursement of qualifying expenses, are recognized as a reduction of the related expense when earned.

Advertising Costs

Costs incurred for producing and distributing advertising are expensed as incurred. Advertising expense amounted to $5.9 million, $5.6 million and $4.3 million for the years ended January 31, 2014, 2013 and 2012, respectively.

Comprehensive Income and Foreign Currency Matters

For the Company, comprehensive income represents net income adjusted for foreign currency items, including foreign currency translation adjustments and unrealized gains or losses on net investment hedge, interest rate and cash flow derivative instruments. For its foreign subsidiaries in which their local currency is their functional currency, assets and liabilities are translated into U.S. dollars at the balance sheet date exchange rate. Income and expenses are translated at average exchange rates for the year. Foreign currency translation adjustments are recorded directly as other comprehensive income, a component of stockholders' equity. For its foreign subsidiaries in which the local currency is not the functional currency, prior to translation into U.S. dollars, amounts must first be remeasured from the local currency into the functional currency. Nonmonetary assets and liabilities are translated at historical exchange rates and monetary assets and liabilities are translated at the balance sheet date exchange rate. Income and expenses are translated at average exchange rates for the year. Foreign currency remeasurement adjustments are included in the statement of operations.

The Company recognized a net foreign currency transaction gain of $0.9 million for the year ended January 31, 2013, exclusive of the loss recognized on the foreign exchange contacts disclosed in Note 9. The impact of foreign currency transactions was immaterial for the years ended January 31, 2014 and January 31, 2012.

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with the provisions of ASC 718, Compensation—Stock Compensation. This guidance requires that stock-based compensation, which includes stock options and restricted stock, be accounted for at the fair value of the applicable equity instrument. Additional information regarding stock-based compensation is summarized in Note 15.

Business Combinations

The Company accounts for business combinations in accordance with the provisions of ASC 805, Business Combinations, which requires the purchase price to be allocated amongst the assets acquired, including identifiable intangible assets, and liabilities assumed based on the fair values of the acquired assets and assumed liabilities. This guidance allows the acquirer to finalize the acquisition accounting during the measurement period, which may not exceed one year from the date of acquisition. During the measurement period the Company's accounting for the business combination transaction may be based on estimates due to various unknown factors present at the date of acquisition.

Segment Reporting

The Company operates its business in three reportable segments, the Agriculture, Construction and International segments, in accordance with the provisions of ASC 280, Segment Reporting. Information regarding these segments is summarized in Note 19.

Exit and Disposal Costs

The Company accounts for exit or disposal activities, including store closures, in accordance with ASC 420, Exit or Disposal Cost Obligations. Such costs mainly include lease termination costs and employee termination costs. The Company records a liability at the net present value of the remaining lease obligations, net of estimated sublease income, as of the date the Company ceases using the property. Any subsequent adjustments to that liability as a result of changes in estimates are recorded in the period incurred. The Company records a liability for employee termination costs at the date the termination benefits were communicated to the employees.

In the year ended January 31, 2014, the Company closed one of its Construction stores in Billings, Montana and merged it with the Company's other store in Billings, Montana. The primary cost of closing this location related to accrual of lease payments, which totaled $0.3 million, all of which was recognized by the Construction segment. A reconciliation of the beginning and ending liability balance follows:



	Amount
	(in thousands)
Balance, January 31, 2012	$	455
Exit costs paid	(111		)
Balance, January 31, 2013	344
Exit costs incurred and charged to expense	308
Exit costs paid	(104		)
Balance, January 31, 2014	$	548

RECEIVABLES

12 Months Ended

Jan. 31, 2014

Receivables [Abstract]

RECEIVABLES



	January 31, 2014			January 31, 2013
	(in thousands)
Trade accounts receivable
Due from customers	$	53,870		$	45,222
Due from finance companies	20,154			47,967
Due from manufacturers	26,624			29,909
Total trade accounts receivable	100,648			123,098
Other receivables	909			1,025
	101,557			124,123
Less allowance for doubtful accounts	(3,663		)	(2,337		)
	$	97,894		$	121,786

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References+ Details

INVENTORIES

12 Months Ended

Jan. 31, 2014

Inventory Disclosure [Abstract]

INVENTORIES



	January 31, 2014		January 31, 2013
	(in thousands)
New equipment	$	575,518	$	542,180
Used equipment	363,755		275,626
Parts and attachments	126,666		103,456
Work in process	10,039		7,954
	$	1,075,978	$	929,216

In addition to the above amounts, the Company has estimated that a portion of its parts inventory will not be sold in the next year. Accordingly, these balances have been classified as noncurrent assets.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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PROPERTY AND EQUIPMENT

12 Months Ended

Jan. 31, 2014

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT



	January 31, 2014			January 31, 2013
	(in thousands)
Rental fleet equipment	$	145,007		$	105,681
Machinery and equipment	23,382			21,086
Vehicles	44,200			38,742
Furniture and fixtures	35,860			27,766
Land, buildings, and leasehold improvements	60,470			56,845
	308,919			250,120
Less accumulated depreciation	(80,919		)	(55,479		)
	$	228,000		$	194,641

Depreciation expense amounted to $30.0 million, $22.7 million and $14.7 million for the years ended January 31, 2014, 2013 and 2012, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Jan. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

The following is a summary of intangible assets with finite lives as of January 31, 2014 and 2013:



	January 31, 2014							January 31, 2013
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
	(in thousands)							(in thousands)
Covenants not to compete	$	2,498	$	(1,424	)	$	1,074	$	2,280	$	(1,008	)	$	1,272
Customer relationships	1,330		(1,119		)	211		1,314		(703		)	611
	$	3,828	$	(2,543	)	$	1,285	$	3,594	$	(1,711	)	$	1,883

The Company acquired intangible assets with finite lives, consisting of covenants not to compete totaling $0.2 million with a weighted-average amortization period of 5.0 years, as part of the business combinations during the year ended January 31, 2014. The Company acquired intangible assets with finite lives, consisting of covenants not to compete totaling $0.3 million with a weighted-average amortization period of 3.7 years and customer relationships totaling $0.4 million with a weighted-average amortization period of 3.0 years, as part of the business combinations completed during the year ended January 31, 2013. Amortization expense was $0.8 million, $0.8 million and $0.6 million for the years ended January 31, 2014, 2013 and 2012, respectively.

Future amortization expense, as of January 31, 2014, is expected to be as follows:



Years ending January 31,	Amount
	(in thousands)
2015	$	599
2016	423
2017	143
2018	74
2019	27
Thereafter	19
	$	1,285

Changes in the carrying amount of indefinite lived intangible assets, which consisted entirely of distribution rights, during the years ended January 31, 2014 and 2013 are summarized as follows:



	Agriculture		Construction			International			Total
	(in thousands)
Balance at January 31, 2012	$	7,333	$	564		$	785		$	8,682
Arising in completed business combinations	2,251		481			769			3,501
Foreign currency translation adjustment	—		—			23			23
Balance at January 31, 2013	9,584		1,045			1,577			12,206
Arising in completed business combinations	—		149			—			149
Impairment	—		(1,122		)	(830		)	(1,952		)
Foreign currency translation adjustment	—		—			62			62
Balance at January 31, 2014	$	9,584	$	72		$	809		$	10,465

The Company performs the annual impairment testing of its indefinite lived distribution rights intangible assets as of December 31st of each year. Under the impairment test, the fair value of distribution rights intangible assets is estimated based on a multi-period excess earnings model, an income approach. This model allocates future estimated earnings of the store/complex amongst working capital, fixed assets and other intangible assets of the store/complex and any remaining earnings (the “excess earnings”) are allocated to the distribution rights intangible assets. The earnings allocated to the distribution rights are then discounted to arrive at the present value of the future estimated excess earnings, which represents the estimated fair value of the distribution rights intangible asset. The discount rate applied reflects the Company's estimate of the weighted-average cost of capital of comparable companies plus an additional risk premium to reflect the additional risk inherent in the distribution right asset.

The results of the Company's impairment testing for the year ended January 31, 2014 indicated that the estimated fair value of certain distribution rights assets approximated zero, thus requiring a full impairment charge equal to the carrying values of such assets. In total, an impairment charge of $2.0 million was recognized and included in the Impairment amount in the consolidated statements of operations. No impairment charges were recognized during the year ended January 31, 2013.

The impairment charges recognized within the Construction and International segments arose as the result lowered expectations of the future financial performance of these stores (complexes). The Company's assumptions about future financial performance were impacted by the current year operating performance of these stores (complexes) and by the anticipated impact that challenging industry conditions may have on the future financial performance of these stores (complexes).

Changes in the carrying amount of goodwill during the years ended January 31, 2014 and 2013 are summarized as follows:



	Agriculture		Construction			International			Total
	(in thousands)
Balance at January 31, 2012	$	19,765	$	3,767		$	872		$	24,404
Arising in completed business combinations	1,600		1,500			102			3,202
Adjustments to business combinations completed in prior years	3,277		—			—			3,277
Foreign currency translation adjustment	—		—			20			20
Balance at January 31, 2013	24,642		5,267			994			30,903
Arising in completed business combinations	—		71			—			71
Impairment	—		(5,338		)	(923		)	(6,261		)
Foreign currency translation adjustment	—		—			38			38
Balance at January 31, 2014	$	24,642	$	—		$	109		$	24,751

The adjustment to goodwill arising from business combinations completed in prior years is the result of additional consideration earned and paid pursuant to business combinations accounted for under the purchase method of accounting which required that additional consideration be recognized once all contingencies have been resolved and that such consideration be included as an additional cost of the entity and therefore recognized as goodwill.

The Company performs its annual impairment testing of goodwill at the end of each fiscal year. Under the impairment test, the fair value of its reporting units is estimated using both a market approach which applies multiples of earnings before interest, taxes, depreciation and amortization of comparable guideline public companies to that of the Company's reporting units, and an income approach in which a discounted cash flow analysis is utilized which includes a five-year forecast of future operating performance for each of the reporting units and a terminal value which estimates sustained long-term growth. The discount rate applied to the estimated future cash flows reflects an estimate of the weighted-average cost of capital of comparable companies.

The impairment test for the year ended January 31, 2014 indicated that the fair value of the Company's Agriculture reporting unit exceeded its carrying value and thus no impairment was recognized. For the Company's Construction and Romanian reporting units, step one of the impairment analysis indicated that the estimated fair value of each reporting unit was less than the carrying value, thus requiring the performance of step two of the impairment analysis. In each instance, the second step of the impairment analysis indicated that the implied fair value of the goodwill associated with the reporting unit approximated zero, thus requiring a full impairment charge of the goodwill carrying value of each reporting unit. As such, total goodwill impairment charge of $6.3 million was recognized as of January 31, 2014 and included in the Impairment amount in the consolidated statements of operations. No impairment charges were recognized during the year ended January 31, 2013.

The impairment charges recognized during the year ended January 31, 2014 within the Construction and Romanian reporting units arose as the result of lowered expectations of future financial performance of these reporting units and a lower market capitalization for the Company as a whole. The assumptions about future financial performance was impacted by the current year operating performance and by the anticipated impact that challenging industry conditions existing as of the assessment date and anticipated to be present over the near-term may have on the future financial performance of these reporting units.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details

LINES OF CREDIT/FLOORPLAN NOTES PAYABLE	12 Months Ended
LINES OF CREDIT/FLOORPLAN NOTES PAYABLE	Jan. 31, 2014
Line of Credit Facility [Abstract]
LINES OF CREDIT/FLOORPLAN NOTES PAYABLE	FLOORPLAN PAYABLE/LINES OF CREDIT Floorplan payable balances reflect the amount owed for new equipment inventory purchased from a manufacturer and used equipment inventory, which is primarily purchased 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's captive finance subsidiaries, CNH 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. Changes in manufacturer floorplan payable are reported as operating cash flows and changes in non-manufacturer floorplan payable are reported as financing cash flows in the Company's consolidated statements of cash flows. As of January 31, 2014, the Company had discretionary floorplan payable lines of credit for equipment purchases totaling approximately $1.2 billion, which includes a $350.0 million Floorplan Payable Line with a group of banks led by Wells Fargo Bank, National Association ("Wells Fargo"), a $450.0 million credit facility with CNH Capital, a $225.0 million credit facility with Agricredit Acceptance LLC ("Agricredit") and the U.S. dollar equivalent of $150.7 million in credit facilities related to our foreign subsidiaries. Floorplan payable relating to these credit facilities totaled approximately $692.8 million of the total floorplan payable balance of $750.5 million outstanding as of January 31, 2014 and $662.2 million of the total floorplan payable balance of $689.4 million outstanding as of January 31, 2013. As of January 31, 2014, the Company had approximately $410.7 million in available borrowings remaining under these lines of credit (net of adjustments based on borrowing base calculations and standby letters of credit under the Wells Fargo credit agreement, and rental fleet financing and other acquisition-related financing arrangements under the CNH Capital credit facility). These floorplan payables carried various interest rates primarily ranging from 2.78% to 7.25% as of January 31, 2014, subject to interest-free periods offered by CNH Capital. The following provides additional information regarding each of the Company's three significant floorplan lines of credit. Senior Secured Credit Facility—Operating and Floorplan Payable Lines of Credit As of January 31, 2014, the Company had an amended and restated credit agreement with Wells Fargo, which provided for a $350.0 million wholesale floorplan line of credit (the "Floorplan Payable Line") and a $112.5 million working capital line of credit (the "Working Capital Line"). The amount available under the Floorplan Payable Line is reduced by adjustments based on borrowing base calculations and various standby letters of credit denominated in Euros and U.S. dollars used to guarantee equipment purchases from CNH by the Company's foreign subsidiaries. The credit agreement has a variable interest rate on outstanding balances of LIBOR plus an applicable margin of 1.5% to 2.630% per annum, depending upon the Company's consolidated leverage ratio, has a 0.3% to 0.4% non-usage fee on the average monthly unused amount and requires monthly payments of accrued interest. The credit agreement is secured by all assets of the Company, requires prior approval of acquisitions exceeding certain thresholds and contains certain financial covenants. These financial covenants impose a minimum fixed charge coverage ratio of 1.25 : 1.00; a maximum net leverage ratio of 3.25 : 1.00 through the fiscal quarter ended October 31, 2014 and 3.00 : 1.00 from the fiscal quarter January 31, 2015 through August 31, 2018; and a minimum net income, adjusted for impairment charges recognized in the years ended January 31, 2014 and 2015 and realignment charges recognized in the year ended January 31, 2014 and the three months ended April 30, 2014, of $5.0 million for the four fiscal quarters ended October 31, 2014 and $10.0 million for each fiscal year ended thereafter. The credit agreement also restricts the Company's ability to make certain cash payments without prior approval, including payments for stock repurchases and cash dividends, except that it permits paying cash dividends in an amount not to exceed 50% of consolidated net income for the then trailing four quarters, so long as no default or event of default exists prior to or immediately following such action or otherwise results from such action. The credit agreement expires August 31, 2018. The Floorplan Payable Line is used to finance equipment inventory purchases. Amounts outstanding are recorded as floorplan payable, within current liabilities on the consolidated balance sheets, as the Company intends to repay amounts borrowed within one year. The Working Capital Line is used to finance working capital requirements of the Company. Amounts outstanding are recorded as long-term debt, within long-term liabilities on the consolidated balance sheets, as the Company does not have the intention or obligation to repay amounts borrowed within one year. The balances outstanding on the Working Capital Line as of January 31, 2014 and 2013 are disclosed in Note 8. CNH Capital Floorplan Payable Line of Credit As of January 31, 2014, the Company had a $450.0 million credit facility with CNH Capital. The available borrowings under the CNH Capital credit facility are reduced by outstanding floorplan payable, rental fleet financing and other acquisition-related financing arrangements with CNH Capital. The CNH Capital credit facility has interest rates equal to the prime rate plus 4% on new borrowings, subject to any interest-free periods offered by CNH Capital, and automatically renews on August 31 of each year unless earlier terminated by either party. Repayment terms vary by individual notes, but generally payments are made from sales proceeds or rental revenue from the related inventories. The balances outstanding with CNH Capital are secured by the related inventory. The CNH Capital credit facility contains certain financial covenants that impose a maximum level of adjusted debt to tangible net worth of 3.0 : 1.0 and a minimum debt service ratio of 1.2 : 1.0. It also contains various restrictive covenants that require prior consent of CNH Capital if the Company desires to engage in any acquisition of, consolidation or merger with any other business entity in which the Company is not the surviving company; create subsidiaries; move any collateral outside of the U.S.; or sell, rent, lease or otherwise dispose or transfer any of the collateral, other than in the ordinary course of business. CNH Capital's consent is also required for the acquisition of any CNH dealership. In addition, the CNH Capital credit facility restricts the Company's ability to incur any liens upon any substantial part of its assets. Agricredit Floorplan Payable Line of Credit As of January 31, 2014, the Company had a $225.0 million credit facility with Agricredit. The Agricredit credit facility may be used to purchase or refinance new and used equipment inventory and has a variable interest rate on outstanding balances of LIBOR plus an applicable margin of 4.75% to 5.25% per annum, depending upon the Company's average daily outstanding balance. The Agricredit credit facility allows for increase, decrease or termination of the credit facility by Agricredit on 90 days notice. Under covenants of the Agricredit credit facility, the Company had agreed, among other things, to maintain certain financial covenants that impose a minimum fixed charge coverage ratio of 1.25 : 1.00 and a maximum net leverage ratio of 3.25 : 1.00 as of January 31, 2014, to submit certain financial information, and to obtain prior consent from Agricredit if the Company desired to engage in any acquisition meeting certain financial thresholds. The maximum net leverage ratio will be 3.00 : 1.00 effective January 31, 2015. The balances outstanding with Agricredit are secured by the related inventory. Repayment terms vary by individual notes, but generally payments are made from sales proceeds or rental revenue from the related inventories.

SENIOR CONVERTIBLE NOTES (Senior Convertible Notes)

12 Months Ended

Jan. 31, 2014

Senior Convertible Notes

SENIOR CONVERTIBLE NOTES

SENIOR CONVERTIBLE NOTES

On April 24, 2012, the Company issued through a private offering $150 million of 3.75% Senior Convertible Notes (the "Senior Convertible Notes"). The Senior Convertible Notes bear interest at a rate of 3.75% per year, payable semi-annually in arrears on May 1 and November 1 of each year, commencing on November 1, 2012. The Convertible Notes mature on May 1, 2019, unless earlier purchased by the Company, redeemed or converted.

The Senior Convertible Notes are unsecured and unsubordinated obligations; rank equal in right of payment to the Company's existing and future unsecured indebtedness that is not subordinated; are effectively subordinated in right of payment to the Company's existing and future secured indebtedness; and are structurally subordinated to all existing and future indebtedness and liabilities of the Company's subsidiaries.

The Senior Convertible Notes are initially convertible into the Company's common stock at a conversion rate of 23.1626 shares of common stock per $1,000 principal amount of convertible notes, representing an initial effective conversion price of $43.17 per share of common stock. The conversion rate may be subject to adjustment upon the occurrence of certain specified events as provided in the indenture governing the Senior Convertible Notes, dated April 24, 2012 between the Company and Wells Fargo Bank, National Association, as trustee (the "Indenture"), but will not be adjusted for accrued but unpaid interest. Upon conversion of a Senior Convertible Note, the Company will settle the conversion obligation in cash up to the aggregate principal amount of the Senior Convertible Note being converted, and any conversion obligation in excess thereof will be settled in cash, shares of the Company's common stock, or a combination thereof, at the Company's election, subject to certain limitations as defined in the Indenture.

Holders of the Senior Convertible Notes may convert their notes at the applicable conversion rate under the following circumstances:

During any fiscal quarter commencing after July 31, 2012, if for at least 20 trading days (whether or not consecutive) during the 30 consecutive trading day period ending on the last trading day of the immediately preceding fiscal quarter, the last reported sale price of the Company's common stock on such trading day is greater than or equal to 120% of the applicable conversion price on such trading day.

ii.

During the five consecutive business day period immediately following any five consecutive trading day period in which, for each trading day of that period, the trading price per $1,000 principal amount of the Senior Convertible Notes is less than 98% of the product of the last reported sale price of the Company's common stock on such trading day and the applicable conversion rate on such trading day.


iii.	If the Company calls any or all of the Senior Convertible Notes for redemption at any time prior to the close of business on the business day immediately preceding the redemption date.


iv.	Upon the occurrence of corporate transactions specified in the Indenture.


v.	At any time on and after February 1, 2019 until the close of business on the business day immediately preceding the maturity date.

Holders of the Senior Convertible Notes who convert their Senior Convertible Notes in connection with a make-whole fundamental change, as defined in the Indenture, may be entitled to a make-whole premium in the form of an increase to the conversion rate. In addition, upon the occurrence of a fundamental change, as defined in the Indenture, holders of the Senior Convertible Notes may require the Company to purchase all or a portion of their Senior Convertible Notes for cash at a price equal to 100% of the principal amount of the Senior Convertible Notes to be purchased plus any accrued but unpaid interest.

The number of shares the Company may deliver upon conversion of the Senior Convertible Notes will be subject to certain limitations, and the Company is subject to certain other obligations and restrictions related to such share caps, as described in the Indenture. On or after May 6, 2015, the Company may redeem for cash all or a portion of the Senior Convertible Notes if the last reported sale price of the Company's common stock has been at least 120% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption.

The Indenture provides for customary events of default, including, but not limited to, cross acceleration to certain other indebtedness of the Company and its subsidiaries. In the case of an event of default arising from specified events of bankruptcy or insolvency, all outstanding Senior Convertible Notes will become due and payable immediately without further action or notice. If any other event of default under the Indenture occurs or is continuing, the trustee or holders of at least 25% in aggregate principal amount of the then outstanding Senior Convertible Notes may declare all of the Senior Convertible Notes to be due and payable immediately.

In accounting for the Senior Convertible Notes, the Company segregated the liability component of the instrument from the equity component. The liability component was measured by estimating the fair value of a non-convertible debt instrument that is similar in its terms to the Senior Convertible Notes. Fair value was estimated through discounting future interest and principal payments, an income approach, due under the Senior Convertible Notes at a discount rate of 7.00%, an interest rate equal to the estimated borrowing rate for similar non-convertible debt. The excess of the aggregate face value of the Senior Convertible Notes over the estimated fair value of the liability component is recognized as a debt discount which will be amortized over the expected life of the Senior Convertible Notes using the effective interest rate method. Amortization of the debt discount is recognized as non-cash interest expense.

The equity component of the Senior Convertible Notes is measured as the residual difference between the aggregate face value of the Senior Convertible Notes and the estimated aggregate fair value of the liability component. The equity component will not be remeasured in subsequent periods provided that the component continues to meet the conditions necessary for equity classification.

The transaction costs incurred in connection with the issuance of the Senior Convertible Notes were allocated to the liability and equity components based on their relative values. Transaction costs allocated to the liability component are being amortized using the effective interest rate method and recognized as non-cash interest expense over the expected term of the Senior Convertible Notes. Transaction costs allocated to the equity component reduced the value of the equity component recognized in stockholders' equity.

Proceeds upon issuance of the Senior Convertible Notes were as follows:



	April 24, 2012
	(in thousands)
Principal value	$	150,000
Less: transaction costs	(4,753		)
Net proceeds, senior convertible notes	$	145,247
Amounts recognized at issuance:
Senior convertible notes, net	$	123,319
Additional paid-in capital	15,546
Transaction costs allocated to the liability component	(3,907		)
Long-term deferred tax liability	10,289
Net proceeds, senior convertible notes	$	145,247

As of January 31, 2014, the Senior Convertible Notes consisted of the following:



	January 31, 2014
	(in thousands, except conversion rate and conversion price)
Principal value	$	150,000
Unamortized debt discount	(21,107		)
Carrying value of senior convertible notes	$	128,893

Carrying value of equity component, net of deferred taxes	$	15,546

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

The unamortized debt discount will be amortized over a remaining period of approximately 5.25 years. The if-converted value as of January 31, 2014 does not exceed the principal balance of the Senior Convertible Notes. For the year ended January 31, 2014, the Company recognized coupon interest expense of $5.6 million, and non-cash interest expense of $3.2 million related to the amortization of the debt discount and $0.5 million related to the amortization of the liability-allocated transaction costs. For the year ended January 31, 2013, the Company recognized coupon interest expense of $4.3 million, and non-cash interest expense of $2.3 million related to the amortization of the debt discount and $0.4 million related to the amortization of the liability-allocated transaction costs. The effective interest rate of the liability component for the periods ended January 31, 2014 and 2013 was equal to 7.00%.

LONG-TERM DEBT (Long-Term Debt (excluding senior convertible notes))

12 Months Ended

Jan. 31, 2014

Long-Term Debt (excluding senior convertible notes)

LONG-TERM DEBT

LONG-TERM DEBT

The following is a summary of long-term debt as of January 31, 2014 and 2013:



	January 31, 2014			January 31, 2013
	(in thousands)
Fixed rate notes payable to Wells Fargo Bank, N.A., interest rate of 3.46%, monthly interest payments with the principal payment due February 2015, secured by rental fleet equipment	$	33,982		$	42,634
Fixed rate notes payable to various finance and other companies, interest rates primarily ranging from 3.4% to 10.23%, due in monthly installments including interest and various maturity dates through December 2028, secured by fixed assets	15,878			12,403
Working Capital Line payable to Wells Fargo (see details in Note 6)	47,823			7,138
Variable rate notes payable to GE Commercial Distribution Finance Corporation, interest rate of LIBOR + 4.1%, monthly installment payments including interest, secured by rental fleet equipment	—			4,869
Other	41			116
	97,724			67,160
Less current maturities	(2,192		)	(10,568		)
	$	95,532		$	56,592

Long-term debt maturities are as follows:



Years Ending January 31,	Amount
	(in thousands)
2015	$	2,192
2016	36,765
2017	3,539
2018	739
2019	48,239
Thereafter	6,250
	$	97,724

DERIVATIVE INSTRUMENTS

12 Months Ended

Jan. 31, 2014

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.

Net Investment Hedges

To protect the value of the Company's investments in its foreign operations against adverse changes in foreign currency exchange rates, the Company may, from time to time, hedge a portion of its net investment in one or more of its foreign subsidiaries. Gains and losses on derivative instruments that are designated and effective as a net investment hedge are included in other comprehensive income and only reclassified into earnings in the period during which the hedged net investment is sold or liquidated. Any hedge ineffectiveness is recognized in earnings immediately.

Cash Flow Hedges

On October 9, 2013, the Company entered into a forward-starting interest rate swap instrument which has 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 is to, beginning on September 30, 2014, protect the Company from changes in benchmark interest rates to which the Company is exposed through certain of its variable interest rate credit facilities. The instrument provides for a fixed interest rate of 1.901% through the instrument's maturity date.

The Company may, from time to time, hedge foreign currency exchange rate risk arising from inventory purchases denominated in Canadian dollars through the use of foreign currency forward contracts. The maximum length of time over which the Company is hedging its exposure to the variability in future cash flows associated with the Canadian dollar purchasing is less than 12 months.

The interest rate swap instrument and foreign currency contracts have been designated as cash flow hedging instruments and accordingly changes in the effective portion of the fair value of the instruments are 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. Any hedge ineffectiveness is recognized in earnings immediately.

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 derivative instruments outstanding as of January 31, 2014 and 2013:



	Notional Amount as of:
	January 31, 2014		January 31, 2013
	(in thousands)
Net Investment Hedge:
Foreign currency contracts	$	43,742	$	—
Cash Flow Hedges:
Interest rate swap	100,000		—
Foreign currency contracts	4,754		—
Derivatives Not Designated as Hedging Instruments:
Foreign currency contracts	44,775		3,898

The following table sets forth the fair value of the Company's derivative instruments outstanding as of January 31, 2014 and 2013.



	Fair Value as of:
	January 31, 2014		January 31, 2013		Balance Sheet Location
	(in thousands)
Asset Derivatives
Derivatives designated as hedging instruments:
Net investment hedges:
Foreign currency contracts	$	157	$	—	Prepaid expenses and other
Derivatives not designated as hedging instruments:
Foreign currency contracts	279		—		Prepaid expenses and other
Total Asset Derivatives	$	436	$	—

Liability Derivatives
Derivatives designated as hedging instruments:
Cash flow hedges:
Interest rate swap	$	1,227	$	—	Accrued expenses
Foreign currency contracts	211		—		Accrued expenses
Derivatives not designated as hedging instruments:
Foreign currency contracts	—		86		Accrued expenses
Total Liability Derivatives	$	1,438	$	86

The following table sets forth the gains and losses recognized on the Company's derivative instruments for the years ended January 31, 2014 and 2013. No derivative instruments were outstanding during the year ended January 31, 2012.



	2014						2013
	Amount of Gain (Loss) Recognized in						Amount of Gain (Loss) Recognized in
	Other Comprehensive Income			Income			Other Comprehensive Income			Income			Income Statement Classification
	(in thousands)						(in thousands)
Derivatives Designated as Hedging Instruments:
Net investment hedges:
Foreign currency contracts	$	284		$	—		$	(834	)	$	(365	)	Interest and other income
Cash flow hedges:
Interest rate swap	(1,227		)	—			—			—			N/A
Foreign currency contracts	(211		)	—			—			—			N/A
Derivatives Not Designated as Hedging Instruments:
Foreign currency contracts	—			(720		)	—			(1,430		)	Interest and other income
Total Derivatives	$	(1,154	)	$	(720	)	$	(834	)	$	(1,795	)

No components of the Company's net investment or cash flow hedging instruments were excluded from the assessment of hedge ineffectiveness.

As of January 31, 2014, the Company had $1.2 million and $0.2 million in pre-tax net unrealized losses associated with its interest rate swap and foreign currency contract cash flow hedging instruments recorded in accumulated other comprehensive income, respectively. The Company expects that $0.5 million and $0.1 million of pre-tax unrealized losses associated with its interest rate swap and foreign currency contracts, respectively, will be reclassified into net income over the next 12 months.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

ACCRUED EXPENSES

12 Months Ended

Jan. 31, 2014

Payables and Accruals [Abstract]

ACCRUED EXPENSES



	January 31, 2014		January 31, 2013
	(in thousands)
Compensation	$	19,533	$	18,025
Sales, payroll, real estate and value added taxes	6,405		4,930
Interest	2,299		2,389
Insurance	2,641		1,087
Deferred revenue	1,115		1,067
Derivative liabilities	1,438		86
Other	3,537		2,006
	$	36,968	$	29,590

COMMITMENTS AND CONTINGENCIES (Notes)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Notes)	Jan. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation The Company is engaged in 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 the various legal actions and claims that are incidental to its business 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. Other Matters The Company is the lessee under many real estate leases in which it agrees to indemnify the lessor from certain liabilities arising as a result of the use of the leased premises, including environmental liabilities, or a breach of the lease by the lessee. Additionally, from time to time, the Company enters into agreements with third parties in connection with the sale of assets in which it agrees to indemnify the purchaser from certain liabilities or costs arising in connection with the assets. Also, in the ordinary course of business in connection with purchases or sales of goods and services, the Company enters into agreements that may contain indemnification provisions. In the event that an indemnification claim is asserted, the Company's liability would be limited by the terms of the applicable agreement. See additional information on our operating lease commitments in Note 12.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

OPERATING LEASES AND RELATED PARTY TRANSACTIONS

12 Months Ended

Jan. 31, 2014

Leases [Abstract]

OPERATING LEASES AND RELATED PARTY TRANSACTIONS

OPERATING LEASE COMMITMENTS AND RELATED PARTY TRANSACTIONS

The Company leases 143 buildings under operating lease agreements with both related and unrelated parties, as well as office equipment and vehicles under various operating lease agreements. Rent and lease expense under all operating leases totaled $21.6 million, $17.3 million and $13.1 million during the years ended January 31, 2014, 2013 and 2012, respectively. The leases expire at various dates through January 2029. Certain leases have fluctuating minimum lease payments. The Company recognizes lease expense on a straight-line basis over the expected term of the lease.

The Company's store lease agreements contain lease periods primarily ranging from automatically renewable month-to-month terms to 15 years in length. Certain of the lease agreements contain terms such as an option to purchase the property at fair value, renew or extend the lease for an additional period at the conclusion of the original lease term or automatically renew the lease term at the conclusion of the original lease period on a month-to-month or year-to-year basis. A majority of the leases provide for fixed monthly rental payments and require the Company to pay the real estate taxes on the properties for the lease periods. All of the leases require that the Company maintains public liability and personal property insurance on each of the leased premises, and a majority of the leases require the Company to indemnify the lessor in connection with any claims arising from the leased premises during our occupation of the property. Most of the leases prohibit assigning the lease agreements or subletting the leased premises without the prior written consent of the lessor. In most of the leases, the Company has been granted a right of first refusal or other options to purchase the property.

Approximate future minimum lease payment commitments are as follows:



Years ending January 31,	Amount
	(in thousands)
2015	$	22,481
2016	19,315
2017	17,483
2018	16,288
2019	15,095
Thereafter	100,009
	$	190,671

Rent expense for operating leases with related parties totaled $0.1 million, $7.0 million and $6.3 million for the years ended January 31, 2014, 2013 and 2012, respectively. The Company has leased one store property pursuant to an operating lease from C.I. Farm Power, Inc., a company affiliated with Peter Christianson, the Company's President and a director, during each of the years ended January 31, 2014, 2013 and 2012. The lease expires on July 31, 2018, subject to the right of either party to terminate upon 60 days' written notice, The Company also leases buildings from Dealer Sites, LLC ("Dealer Sites"), an entity in which a minority position is owned by an entity affiliated with David Meyer, the Company's Board Chair and Chief Executive Officer, Peter Christianson, the Company's President and a director, and certain other Christianson family members. An entity affiliated with Tony Christianson, one of the Company's directors, formerly held a minority interest in Dealer Sites, LLC until December, 2012. During the years ended January 31, 2013 and 2012, Dealer Sites was deemed to be a related party, however, as of January 31, 2013 and throughout the year ended January 31, 2014, Dealer Sites was not deemed to be a related party as total related party ownership in the entity was less than 10%. The Company leased 48 and 46 buildings pursuant to different operating lease agreements with Dealer Sites as of January 31, 2013 and 2012, respectively. As of January 31, 2013, the leases expired on various dates through January 2028, contained purchase options based on fair values at the time of purchase, and provided that the lessee pay all property taxes, utilities, insurance and all expenses necessary for the general maintenance of the respective buildings. During the years ended January 31, 2013 and 2012, the Company also received $1.3 million and $6.8 million, respectively, pursuant to sale-leaseback agreements with Dealer Sites.

The Company utilizes C.I. Construction, LLC ("C.I. Construction"), an entity owned by the brother-in-law of Peter Christianson and Tony Christianson, to perform construction management services for its building and leasehold improvement projects. Payments to C.I. Construction, which include cost reimbursements of certain building supplies and other construction costs, totaled $3.9 million, $6.7 million and $3.2 million for the years ended January 31, 2014, 2013 and 2012, respectively. The Company also had accounts receivable from C.I. Construction of $0.1 million outstanding as of January 31, 2014. During the year ended January 31, 2013, the Company also paid a total of $0.2 million to Cherry Tree & Associates, LLC, an entity affiliated with Tony Christianson, primarily for services related to the Senior Convertible Notes offering.

INCOME TAXES

12 Months Ended

Jan. 31, 2014

Income Tax Disclosure [Abstract]

INCOME TAXES

The provision for income taxes charged to income for the years ended January 31, 2014, 2013 and 2012 consists of the following:



	2014			2013		2012
	(in thousands)
Currently payable (receivable)
Federal	$	13,086		$	17,588	$	9,342
Foreign	149			287		(10		)
State	2,029			4,154		4,068
Deferred	(4,939		)	6,108		16,029
	$	10,325		$	28,137	$	29,429

The reconciliation of the statutory federal income tax rate to the Company's effective rate is as follows:



	2014		2013		2012
U.S. statutory rate	35.0	%	35.0	%	35.0	%
Foreign statutory rates	2.9	%	(0.4	)%	—	%
State taxes on income net of federal tax benefit	4.5	%	4.7	%	4.9	%
Valuation allowances	10.3	%	—	%	—	%
All other, net	3.3	%	0.5	%	0.1	%
	56.0	%	39.8	%	40.0	%

Net deferred tax assets and liabilities consist of the following components as of January 31, 2014 and 2013:



	2014			2013
	(in thousands)
Deferred tax assets:
Inventory allowances	$	8,313		$	5,146
Accrued liabilities and other	2,943			1,682
Stock-based compensation	932			630
Receivables	1,378			899
Net operating losses	1,204			430
Other	888			315
Total deferred tax assets	15,658			9,102
Valuation allowances	(1,898		)	—
Deferred tax assets, net of valuation allowances	13,760			9,102

Deferred tax liabilities:
Property and equipment	$	(38,876	)	$	(36,124	)
Senior convertible notes	(8,076		)	(9,391		)
Intangibles	(459		)	(2,452		)
Other	—			(189		)
Total deferred tax liabilities	$	(47,411	)	$	(48,156	)

As of January 31, 2014, the Company had accumulated undistributed earnings in non-U.S. subsidiaries of $2.8 million. The Company has concluded that such earnings are to be reinvested outside of the United States indefinitely. Accordingly, the Company has not recorded a deferred tax liability associated with these undistributed earnings. The Company estimates that the additional U.S. income taxes to be paid upon the repatriation of these undistributed earnings would be approximately $0.8 million.

As of January 31, 2014, the Company has recorded $5.2 million of net operating loss carryforwards within certain of its foreign jurisdictions which expire at various dates between 2018 and 2021, with certain jurisdictions having indefinite carryforward periods.

In reviewing the deferred tax assets as of January 31, 2014, the Company concluded that a full valuation allowance for the deferred tax assets, including net operating loss carryforwards, in certain of its foreign jurisdictions was warranted. In total, a valuation allowance of $1.9 million was recognized which was recorded as an additional provision for income taxes and negatively impacted the effective tax rate for the year ending January 31, 2014. This conclusion was principally based on the presence of historical losses and the anticipated time period over which taxable income may be generated in excess of these historical losses.

The Company files income tax returns in the U.S. federal jurisdiction and various states and foreign countries. It is no longer subject to income tax examinations by U.S. federal tax authorities for fiscal years ended on or prior to January 31, 2010 and state tax authorities for fiscal years ended on or prior to January 31, 2009. In September 2013, the IRS released final tangible property regulations under Sections 162(a) and 263(a) of the Internal Revenue Code regarding the deduction and capitalization of expenditures related to tangible property as well as dispositions of tangible property. These regulations will be effective for our tax year beginning February 1, 2014. We are currently assessing the impact of these regulations and do not anticipate they will have a material impact on our consolidated financial position, results of operations, or cash flows.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

CAPITAL STRUCTURE	12 Months Ended
CAPITAL STRUCTURE	Jan. 31, 2014
Stockholders' Equity Note [Abstract]
CAPITAL STRUCTURE	CAPITAL STRUCTURE The Company amended its certificate of incorporation on June 1, 2012, providing the Company with the authority to issue 50,000,000 shares of $0.00001 par value stock, consisting of 45,000,000 shares of common stock and 5,000,000 shares classified as undesignated. Prior to June 1, 2012, the Company had the authority to issue 30,000,000 shares of $0.00001 par value stock, consisting of 25,000,000 shares of common stock and 5,000,000 shares classified as undesignated.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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-SubTopic 10

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+ Details

STOCK-BASED COMPENSATION

12 Months Ended

Jan. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

STOCK-BASED COMPENSATION

Stock Award Plans

The Company's 2005 Equity Incentive Plan, a stock-based compensation plan (the "Plan") that was implemented during the year ended January 31, 2006 and amended from time to time, currently has a total of 1,500,000 shares available under the Plan. The purpose of the Plan is to provide incentive compensation to participants for services that have been or will be performed for continuing as employees or members of the Board of Directors of the Company. Under the Plan, the Company may grant incentive stock options, non-qualified stock options and restricted stock for up to 1,500,000 shares of common stock under all forms of awards. The Company accounts for stock options and restricted stock using the fair value method under ASC 718, Compensation—Stock Compensation. Shares issued for stock-based awards consist of authorized but unissued shares. The Company has approximately 299,000 shares authorized and available for future equity awards under the Plan as of January 31, 2014.

Compensation cost charged to operations under the Plan was $2.1 million, $1.6 million and $1.4 million for the years ended January 31, 2014, 2013 and 2012, respectively. The related income tax benefit (net) was $0.7 million, $0.5 million and $0.4 million for the years ended January 31, 2014, 2013 and 2012, respectively.

Stock Options

The Company granted stock options as part of its long-term incentive compensation to employees and members of the Board of Directors of the Company. The fair value of each stock option granted was estimated using the Black-Scholes option pricing model. Stock options vest over a period of four to six years for employees and immediately for members of the Board of Directors, and have contractual terms of five to ten years. The Company recognizes the fair value of stock options as compensation expense ratably over the vesting period of the award.

The following table summarizes stock option activity for the year ended January 31, 2014:



	Number of Options		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
	(in thousands)				(in thousands)
Outstanding at January 31, 2013	386		$	11.64	$	6,665	4.8
Granted	—		—
Exercised	(10	)	8.33
Forfeited	—		—
Outstanding at January 31, 2014	376		$	11.72	$	2,336	3.8
Exercisable at January 31, 2014	347		$	11.10	$	2,297	3.7

The aggregate intrinsic value of stock options exercised was $0.1 million, $1.1 million and $2.4 million for the years ended January 31, 2014, 2013 and 2012, respectively. As of January 31, 2014 there was $0.1 million of unrecognized compensation cost on non-vested stock options that is expected to be recognized over a weighted-average period of 0.5 years.

The following is a summary of information related to options outstanding and exercisable at January 31, 2014:



	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price		Number	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price
	(in thousands)				(in thousands)
$ 4.00-4.50	58	2.3	$	4.46	58	2.3	$	4.46
7.50-10.20	195	3.8	8.35		193	3.8	8.33
11.15-14.69	24	4.8	12.01		18	4.8	12.07
21.21-26.84	99	4.5	22.47		78	4.5	22.53
	376	3.8	$	11.72	347	3.7	$	11.10

Restricted Stock

The Company grants restricted stock awards in addition to stock options as part of its long-term incentive compensation to employees and members of the Board of Directors of the Company. The fair value of the restricted stock is determined based on the closing market price of the Company's stock on the date of grant. The restricted stock primarily vests over a period of three to six years for employees and over one year for members of the Board of Directors. The Company recognizes compensation expense ratably over the vesting period of the restricted stock.

The following table summarizes restricted stock activity for the year ended January 31, 2014:



	Shares		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life (Years)
	(in thousands)
Nonvested at January 31, 2013	255		$	22.09	3.0
Granted	140		20.92
Forfeited	(7	)	24.02
Vested	(67	)	19.60
Nonvested at January 31, 2014	321		$	22.05	3.3

The weighted-average grant date fair value of restricted stock granted was $20.92, $26.83 and $24.45 during the years ended January 31, 2014, 2013 and 2012, respectively. The total fair value of restricted stock vested was $1.5 million, $1.3 million and $1.0 million during the years ended January 31, 2014, 2013 and 2012, respectively. As of January 31, 2014, there was $4.7 million of unrecognized compensation cost on non-vested restricted stock that is expected to be recognized over a weighted-average period of 3.3 years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

EMPLOYEE BENEFIT PLANS	12 Months Ended
EMPLOYEE BENEFIT PLANS	Jan. 31, 2014
Compensation and Retirement Disclosure [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS The Company has a 401(k) profit-sharing plan for full-time employees at least 19 years of age. The Company makes matching contributions of 50% of qualifying employee elective contributions to the plan. The Company's matching contributions to the plan of $4.0 million, $3.6 million and $3.0 million were charged to expense for the years ended January 31, 2014, 2013 and 2012, respectively. In addition, the Company may make a discretionary contribution to the plan as determined by the Board of Directors, with a maximum amount equal to the amount allowed under the IRS regulations. The Company did not make any discretionary contributions to the plan for the years ended January 31, 2014, 2013 and 2012.

BUSINESS COMBINATIONS

12 Months Ended

Jan. 31, 2014

Business Combinations [Abstract]

BUSINESS COMBINATIONS

The Company continued to implement its strategy of consolidating dealerships in desired market areas. Below is a summary of the acquisitions completed for the years ended January 31, 2014, 2013 and 2012. In certain of the business combination transactions the Company recognized goodwill. Factors contributing to the recognition of goodwill include an evaluation of future and historical financial performance, the value of the workforce acquired and proximity to other existing and future planned Company locations. Pro forma results are not presented as the acquisitions are not considered material, individually or in aggregate, to the Company. The results of operations have been included in the Company's consolidated results of operations since the date of each respective business combination.

Fiscal 2014

Tucson Tractor Company

On February 16, 2013, the Company acquired certain assets of Tucson Tractor Company. The acquired entity consisted of one construction equipment store in Tucson, Arizona which is contiguous to the Company's existing locations in Phoenix and Flagstaff, Arizona and expands the Company's construction presence in Arizona. The acquisition-date fair value of the total consideration transferred for the store was $4.1 million.

Adobe CE, LLC

On March 1, 2013, the Company acquired certain assets of Adobe CE, LLC. The acquired entity consisted of one construction equipment store Albuquerque, New Mexico and expands the Company's presence into New Mexico. The acquisition-date fair value of the total consideration transferred for the store was $1.2 million.

Fiscal 2013

Colorado division of Adobe Truck & Equipment, LLC

On February 27, 2012, the Company acquired certain assets of the Colorado division of Adobe Truck & Equipment, LLC. The acquired entity consisted of three construction equipment stores in Denver, Colorado Springs, and Loveland, Colorado. The acquisition establishes the Company's first construction equipment stores in Colorado and allows the Company to have the exclusive Case Construction contract for all of Colorado east of the Rocky Mountains. The acquisition-date fair value of the total consideration transferred for the stores was $3.4 million.

Rimex 1-Holding EAD

On March 5, 2012, the Company acquired, through its subsidiary, Titan Machinery Bulgaria AD, certain assets of Rimex 1-Holding EAD. The acquired entity consisted of seven agricultural equipment stores in the following cities in Bulgaria: Sofia, Dobrich, Burgas, Pleven, Ruse, Montana, and Stara Zagora. The acquisition expands the Company's operations in Europe and provides a significant opportunity to leverage its domestic operating model and dealership experience into an additional growth platform. The acquisition-date fair value of the total consideration transferred for the stores was $2.6 million. Subsequent to the acquisition, Titan Machinery Bulgaria AD issued a 30% ownership interest to the former owner of the acquired entity for $2.5 million. The 30% ownership interest is included in the consolidated financial statements as a noncontrolling interest.

Haberer's Implement, Inc.

On March 30, 2012, the Company acquired certain assets of Haberer's Implement, Inc. The acquired entity consisted of one agricultural equipment store in Bowdle, South Dakota which is contiguous to the Company's existing locations in Aberdeen, Redfield and Highmore, South Dakota and Wishek, North Dakota. The acquisition-date fair value of the total consideration transferred for the store was $1.2 million.

East Helena Rental, LLC

On April 2, 2012, the Company acquired certain assets of East Helena Rental, LLC. The acquired entity consisted of one construction equipment rental store in Helena, Montana which is contiguous to the Company's existing locations in Missoula, Great Falls, Bozeman and Big Sky, Montana. The acquisition-date fair value of the total consideration transferred for the store was $0.6 million.

Curly Olney's, Inc.

On July 2, 2012, the Company acquired certain assets of Curly Olney's, Inc. The acquired entity consisted of two agricultural equipment stores in McCook and Imperial, Nebraska and expands the Company's agriculture presence in Nebraska. The acquisition-date fair value of the total consideration transferred for the stores was $5.5 million.

Toner's, Inc

On November 1, 2012, the Company acquired certain assets of Toner's, Inc. The acquired entity consisted of three agricultural equipment stores in Grand Island, Broken Bow and Ord, Nebraska which are contiguous to the Company's existing locations in Kearney, Lexington, North Platte and Hastings, Nebraska. The acquisition-date fair value of the total consideration transferred for the stores was $13.9 million. As of January 31, 2013, the final valuation of the intangible assets acquired was not complete. As a result, the recorded intangible asset values were based on provisional estimates of fair value. The valuation of such assets was completed during the year ended January 31, 2014 and resulted in a $0.1 million decrease in the value of the distribution rights, a $0.2 million decrease in the value of customer relationships and a $0.3 million increase in the value of goodwill arising from the acquisition. The comparative information as of January 31, 2013 was retrospectively adjusted to reflect the final values assigned to each of the intangible assets.

Falcon Power Inc.

On November 1, 2012, the Company acquired certain assets of Falcon Power Inc. The acquired entity consisted of two construction equipment stores in Phoenix and Flagstaff, Arizona and expands the Company's presence into Arizona. The acquisition-date fair value of the total consideration transferred for the stores was $1.4 million.

VIAT D.o.o.

On December 12, 2012, the Company acquired, through its subsidiary, Titan Machinery D.o.o., certain assets of VAIT D.o.o. The acquired entity consisted of one agricultural equipment store in the Vojvodina region of Serbia which is contiguous to the Company's existing locations in Romania and Bulgaria, and expands the Company's Eastern European operations into Serbia. The acquisition-date fair value of the total consideration transferred for the store was $2.3 million.

Fiscal 2012

Tri-State Implement, Inc.

On February 28, 2011, the Company acquired certain assets of Tri-State Implement, Inc. The acquisition consisted of one agricultural equipment store located in Sioux Falls, South Dakota which is contiguous to the Company's existing construction equipment location in Sioux Falls. The acquisition-date fair value of the total consideration transferred for the store was $1.0 million.

Schoffman's Inc.

On March 31, 2011, the Company acquired 100% of the outstanding stock of Schoffman's Inc., which included the real estate of this entity, and subsequently merged the acquired entity into the Company. The acquisition consisted of one agricultural equipment store in Redwood Falls, Minnesota which is contiguous to the Company's existing location in Marshall, Minnesota. The acquisition-date fair value of the total consideration transferred for the store was $5.8 million.

ABC Rental & Equipment Sales

On April 1, 2011, the Company acquired certain assets of ABC Rental & Equipment Sales. The acquisition consisted of four construction equipment rental stores located in Williston, North Dakota, and Bozeman, Missoula, and Big Sky, Montana. This acquisition expands the Company's opportunity to capitalize on increased rental activity of the surrounding oil, coal and natural gas exploration and extraction areas in North Dakota and Montana. The acquisition-date fair value of the total consideration transferred for the stores was $5.4 million.

Carlson Tractor & Equipment, Inc.

On May 13, 2011, the Company acquired certain assets of Carlson Tractor & Equipment, Inc. The acquisition consisted of two construction equipment stores in Rogers and Rosemount, Minnesota and expands the Company's construction presence in Minnesota. The acquisition-date fair value of the total consideration transferred for the stores was $2.9 million.

St. Joseph Equipment Inc.

On May 31, 2011, the Company acquired certain assets of St. Joseph Equipment Inc. The acquisition consisted of four construction equipment stores in Shakopee, Hermantown and Elk River, Minnesota, and La Crosse, Wisconsin. The acquisition establishes the Company's first construction equipment store in Wisconsin and allows the Company to have the exclusive Case Construction contract for the entire state of Minnesota and 11 counties in western Wisconsin. The acquisition-date fair value of the total consideration transferred for the stores was $17.0 million.

Virgl Implement Inc.

On September 2, 2011, the Company acquired certain assets of Virgl Implement Inc. The acquisition consisted of one agricultural equipment store in Wahoo, Nebraska. The acquisition expands the Company's agriculture presence in Nebraska. The acquisition-date fair value of the total consideration transferred for the store was approximately $5.7 million.

Victors Inc.

On September 2, 2011, the Company acquired certain assets of Victors Inc. The acquisition consisted of one agricultural equipment store in Fremont, Nebraska. The acquisition expands the Company's agriculture presence in Nebraska. The acquisition-date fair value of the total consideration transferred for the store was approximately $7.5 million.

Van Der Werff Implement, Inc.

On November 1, 2011, the Company acquired certain assets of Van Der Werff Implement, Inc. The acquisition consisted of one agriculture equipment store in Platte, South Dakota. The store is contiguous to the Company's existing locations in Sioux Falls, Huron, Miller, Highmore and Pierre, South Dakota. The acquisition-date fair value of the total consideration transferred for the store was approximately $4.3 million.

Jewell Implement Company, Inc.

On December 1, 2011, the Company acquired certain assets of Jewell Implement Company, Inc. The acquisition consisted of one agriculture equipment store in Jewell, Iowa. The store is contiguous to the Company's existing location in Iowa Falls, Iowa. The acquisition-date fair value of the total consideration transferred for the store was approximately $1.5 million.

AgroExpert Capital S.R.L.

On December 23, 2011, the Company, through a newly formed subsidiary, Titan Machinery Romania, S.R.L., acquired certain assets and assumed certain liabilities of AgroExpert Capital S.R.L. The acquisition consisted of two agriculture equipment stores in Bucharest and Timisoara, Romania. The acquisition expands the Company's operations into Europe and provides a significant opportunity to leverage its domestic operating model and dealership experience into an additional growth platform. The acquisition-date fair value of the total consideration transferred was $2.8 million. Subsequent to the acquisition, Titan Machinery Romania, S.R.L. issued a 30% ownership interest to two management members of this entity for a combined $0.8 million. This transfer of ownership resulted in a $0.2 million decrease to Titan Machinery, Inc.'s stockholders' equity. The 30% ownership interest in Titan Machinery Romania, S.R.L. is included in the consolidated financial statements as a non-controlling interest.

The allocations of the purchase prices in the above business combinations are presented in the following table:



	2014		2013		2012
	(in thousands)
Cash	$	2	$	3	$	99
Receivables	270		2,804		5,362
Inventories	2,658		29,120		49,818
Prepaid expenses and other	—		352		694
Deferred income taxes	—		—		13
Property and equipment	2,119		4,831		11,238
Intangible assets	182		4,029		6,653
Goodwill	71		6,479		6,033
	$	5,302	$	47,618	$	79,910
Accounts payable	$	—	$	3,119	$	1,120
Floorplan payable	—		7,572		17,389
Customer deposits	4		1,586		1,143
Accrued expenses	—		21		37
Income taxes payable	—		—		390
Long-term debt	—		—		585
Deferred income taxes	—		—		1,440
	$	4	$	12,298	$	22,104
Cash consideration	4,850		31,880		48,547
Non-cash consideration: liabilities incurred	448		3,440		9,259
Total consideration	$	5,298	$	35,320	$	57,806
Goodwill related to the Agriculture operating segment	$	—	$	4,877	$	3,434
Goodwill related to the Construction operating segment	$	71	$	1,500	$	1,706
Goodwill related to the International operating segment	$	—	$	102	$	893

Goodwill expected to be deductible for tax purposes	$	71	$	6,107	$	4,730

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Jan. 31, 2014

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

The assets and liabilities which are measured at fair value on a recurring basis as of January 31, 2014 and 2013 are as follows:



	January 31, 2014										January 31, 2013
	Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3		Total
	(in thousands)										(in thousands)
Financial Assets
Foreign currency contracts	$	—	$	436		$	—	$	436		$	—	$	—		$	—	$	—
Total Financial Assets	$	—	$	436		$	—	$	436		$	—	$	—		$	—	$	—

Financial Liabilities
Interest rate swap	$	—	$	(1,227	)	$	—	$	(1,227	)	$	—	$	—		$	—	$	—
Foreign currency contracts	—		(211		)	—		(211		)	—		(86		)	—		(86		)
Total Financial Liabilities	$	—	$	(1,438	)	$	—	$	(1,438	)	$	—	$	(86	)	$	—	$	(86	)

The valuation for the Company's foreign currency contracts and interest rate swap derivative instruments were valued using discounted cash flow analyses, an income approach, utilizing readily observable market data as inputs.

The Company also valued certain goodwill, other intangible assets and other long-lived assets at fair value on a non-recurring basis during the year-ended January 31, 2014, as part of its annual impairment tests. The estimated fair value of these assets approximated zero, thus requiring a full impairment charge equal to the carrying values of such assets. The valuation methodologies utilized Level 3 fair value inputs, as described in Note 1 and Note 5.

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 with similar maturities, which are Level 2 fair value inputs, the carrying value of long-term debt approximates the fair value as of January 31, 2014 and 2013. The following table provides details on the Senior Convertible Notes as of January 31, 2014 and 2013. 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 (see Note 7). Fair value of the Senior Convertible Notes was estimated based on Level 2 fair value inputs.



	January 31, 2014						January 31, 2013
	Estimated Fair Value		Carrying Value		Face Value		Estimated Fair Value		Carrying Value		Face Value
	(in thousands)						(in thousands)
Senior convertible notes	$	128,522	$	128,893	$	150,000	$	152,760	$	125,666	$	150,000

- 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

12 Months Ended

Jan. 31, 2014

Segment Reporting [Abstract]

SEGMENT INFORMATION AND OPERATING RESULTS

The Company owns and operates a network of full service agricultural and construction equipment stores in the United States and Europe. During the year ended January 31, 2014, the Company determined that its International operations were a separate reportable segment. Thus, the financial information for the years ended January 31, 2013 and 2012 has been reclassified for comparability with current year presentation. As of January 31, 2014, the Company has three reportable segments: Agriculture, Construction and International. The Company's segments are organized based on types of products sold and geographic areas, as described in the following paragraphs. The operating results for each segment are reported separately to the Company's Chief Executive Officer and President to make decisions regarding the allocation of resources, to assess the Company's operating performance and to make strategic decisions.

The Company's Agriculture segment sells, services, and rents machinery, and related parts and attachments, for uses ranging from large-scale farming to home and garden use in North America. This segment also includes ancillary sales and services related to agricultural activities and products such as equipment transportation, Global Positioning System ("GPS") signal subscriptions and finance and insurance products.

The Company's Construction segment sells, services, and rents machinery, and related parts and attachments, for uses ranging from heavy construction to light industrial machinery use to customers in North America. This segment also includes ancillary sales and services related to construction activities such as equipment transportation, GPS signal subscriptions and finance and insurance products.

The Company’s International segment sells, services, and rents machinery, and related parts and attachments, for uses ranging from large-scale farming and construction to home and garden use to customers in Eastern Europe. It also includes export sales of equipment and parts to customers outside of the United States.

Revenue generated from sales to customers outside of the United States was $145.9 million, $72.5 million and $5.9 million for the years ended January 31, 2014, 2013 and 2012, respectively. As of January 31, 2014 and 2013, $7.3 million and $5.4 million of the Company's long-lived assets were held in its European subsidiaries, respectively.

Revenues, income (loss) before income tax and total assets at the segment level are reported before eliminations. 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 Resource assets primarily consist of cash and property and equipment. Revenue between segments is immaterial. Revenue amounts included in Eliminations primarily relate to transactions within a segment. See Note 5 for information regarding goodwill by segment.

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



	January 31, 2014			January 31, 2013			January 31, 2012
	(in thousands)
Revenue
Agriculture	$	1,765,821		$	1,827,023		$	1,435,387
Construction	405,822			380,295			279,152
International	145,884			72,510			5,907
Segment revenue	2,317,527			2,279,828			1,720,446
Eliminations	(91,081		)	(81,408		)	(61,454		)
Total	$	2,226,446		$	2,198,420		$	1,658,992
Income (Loss) Before Income Taxes
Agriculture	$	59,574		$	83,256		$	73,953
Construction	(28,083		)	(4,708		)	5,461
International	(5,544		)	541			458
Segment income (loss) before income taxes	25,947			79,089			79,872
Shared Resources	(6,650		)	(6,902		)	(5,993		)
Eliminations	(868		)	(1,491		)	(305		)
Income before income taxes	$	18,429		$	70,696		$	73,574
Impairment
Agriculture	$	—		$	—		$	—
Construction	8,243			—			—
International	1,754			—			—
Segment impairment	9,997			—			—
Shared Resources	—			—			—
Total	$	9,997		$	—		$	—



	January 31, 2014			January 31, 2013			January 31, 2012
	(in thousands)
Interest Income
Agriculture	$	270		$	181		$	117
Construction	638			510			299
International	102			—			—
Segment interest income	1,010			691			416
Shared Resources	22			13			—
Total	$	1,032		$	704		$	416
Interest Expense
Agriculture	$	16,052		$	13,324		$	10,601
Construction	10,751			8,634			3,267
International	4,562			957			5
Segment interest expense	31,365			22,915			13,873
Shared Resources	(810		)	(153		)	(4,203		)
Total	$	30,555		$	22,762		$	9,670
Depreciation and Amortization
Agriculture	$	8,196		$	7,056		$	5,497
Construction	18,064			13,546			7,568
International	1,110			340			—
Segment depreciation and amortization	27,370			20,942			13,065
Shared Resources	3,424			2,522			2,198
Total	$	30,794		$	23,464		$	15,263
Capital Expenditures
Agriculture	$	4,634		$	7,470		$	6,145
Construction	2,752			16,175			9,447
International	4,015			1,070			—
Segment capital expenditures	11,401			24,715			15,592
Shared Resources	7,609			15,117			5,830
Total	$	19,010		$	39,832		$	21,422
Total Assets
Agriculture	$	943,212		$	781,382		$	766,075
Construction	308,525			346,554			250,474
International	195,534			119,132			15,023
Segment assets	1,447,271			1,247,068			1,031,572
Shared Resources	$	120,335		$	199,849		$	57,882
Eliminations	(2,958		)	(2,843		)	(1,382		)
Total	$	1,564,648		$	1,444,074		$	1,088,072

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

SELECTED QUARTERLY FINANCIAL DATA (Unaudited)

12 Months Ended

Jan. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY FINANCIAL DATA (Unaudited)

The following reflects selected quarterly financial information for fiscal years 2014 and 2013.



	Revenue		Gross Profit		Net Income Attributable to Titan Machinery Inc.			Earnings per Share-Basic			Earnings per Share-Diluted
	(in thousands, except per share data)
2014
First quarter	$	441,674	$	73,948	$	(414	)	$	(0.02	)	$	(0.02	)
Second quarter	488,180		83,542		3,833			0.18			0.18
Third quarter	587,961		93,606		5,825			0.27			0.27
Fourth quarter	708,631		96,978		(393		)	(0.02		)	(0.02		)
2013
First quarter	$	421,723	$	70,409	$	7,597		$	0.36		$	0.36
Second quarter	410,071		70,364		5,209			0.25			0.25
Third quarter	582,112		94,059		14,061			0.67			0.66
Fourth quarter	784,514		104,529		15,606			0.74			0.73

The Company recognized impairment charges totaling $10.0 million in the fourth quarter of fiscal 2014, resulting from the annual impairment tests on goodwill, intangible assets and other long-lived assets. Details of the Company's impairment testing is disclosed in Note 1 and Note 5. The Company also recognized $1.9 million in valuation allowances on certain deferred tax assets, including net operating losses, in certain of our foreign entities. Details of these valuation allowances are disclosed in Note 1 and Note 13.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Jan. 31, 2014
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS To better align its Construction business in certain markets, in April 2014, the Company reduced its Construction-related headcount by approximately 12% primarily through the closing of seven underperforming Construction stores, staff reductions at other dealerships and reductions in support staff at its Shared Resource Center. The closed stores were located in Bozeman, Big Sky and Helena, Montana; Cheyenne, Wyoming; Clear Lake, Iowa; Flagstaff, Arizona; and Rosemount, Minnesota. The Company also closed its Agriculture store in Oskaloosa, Iowa and merged it with the nearby Agriculture store in Pella, Iowa. The Company's remaining stores in each of the respective areas will take over the distribution rights for the CNH brand previously held by the stores which have closed. The Company will transfer the majority of the assets of the closed stores to other stores, and will account for all exit costs related to these store closings in accordance with ASC 420, Exit or Disposal Cost Obligations. The Company estimates the total cost of these activities is anticipated to total approximately $4.2 million, comprised of an accrual for the net present value of remaining lease obligations, employee severance costs, impairment of certain fixed assets and costs associated with relocation of assets from the closed stores. These expenses are expected to be recognized in the three months ended April 30, 2014. On April 3, 2014, we amended our credit facility with Wells Fargo to modify and add certain definitions. The amendment also modified and added certain financial covenants. The effective date of the amendment was January 31, 2014 and significant terms of this amendment are included in Note 6.

Schedule II-Valuation and Qualifying Accounts and Reserves

12 Months Ended

Jan. 31, 2014

Valuation and Qualifying Accounts [Abstract]

Schedule II-Valuation and Qualifying Accounts and Reserves

Schedule II—Valuation and Qualifying Accounts and Reserves

Titan Machinery Inc.



Classification	Beginning Balance		Additions Charged to Expenses		Deductions for Write-offs, Net of Recoveries			Ending Balance
	(in thousands)
Valuation reserve deduction from receivables:
Year Ended January 31, 2014	$	2,337	$	4,804	$	(3,478	)	$	3,663
Year Ended January 31, 2013	720		3,218		(1,601		)	2,337
Year Ended January 31, 2012	429		1,245		(954		)	720

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Jan. 31, 2014

Accounting Policies [Abstract]

Nature of Business

Seasonality

Principles of Consolidation

Reclassifications

Estimates

Concentrations of Credit Risk

The Company's cash balances are maintained in bank deposit accounts, which are in excess of federally insured limits.

Concentrations in Operations

In addition, the Company believes that the following factors related to concentrations in suppliers, and in particular CNH, have a significant impact on our operating results:

•CNH's product offerings, reputation and market share

•CNH's product prices and incentive and discount programs

•Supply of inventory from CNH

•CNH provides floorplan payable financing for the purchase of a substantial portion of our inventory


•	CNH provides a significant percentage of the financing used by our customers to purchase CNH equipment from us.

Receivables and Credit Policy

Inventories

Property and Equipment



Buildings and leasehold improvements	Lesser of 10 - 40 years or lease term
Machinery and equipment	3 - 10 years
Furniture and fixtures	3 - 10 years
Vehicles	5 - 10 years
Rental fleet	3 - 10 years

Depreciation for income tax reporting purposes is computed using accelerated methods.

Goodwill

Intangible Assets

Impairment of Long-Lived Assets

Derivative Instruments

Fair Value Measurements

Level 1—Values derived from unadjusted quoted prices in active markets for identical assets and liabilities.

Level 3—Values derived from unobservable inputs for which there is little or no market data available, thereby requiring the reporting entity to develop its own assumptions.

Customer Deposits

Customer deposits consist of advance payments from customers, in the form of cash or equipment to be traded-in

Income Taxes

Earnings Per Share

The following table sets forth the calculation of basic and diluted earnings per share:



	2014			2013			2012
	(in thousands, except per share data)
Numerator
Net Income Attributable to Titan Machinery Inc.	$	8,851		$	42,473		$	44,160
Net Income Allocated to Participating Securities	(129		)	(443		)	(409		)
Net Income Attributable to Titan Machinery Inc. Common Stockholders	$	8,722		$	42,030		$	43,751
Denominator
Basic Weighted-Average Common Shares Outstanding	20,894			20,787			19,809
Plus: Incremental Shares From Assumed Conversions of Stock Options and Warrants	146			200			301
Diluted Weighted-Average Common Shares Outstanding	21,040			20,987			20,110
Earnings per Share - Basic	$	0.42		$	2.02		$	2.21
Earnings per Share - Diluted	$	0.41		$	2.00		$	2.18

Revenue Recognition

Sales, Excise and Value Added Taxes

Shipping and Handling Costs

Shipping and handling costs are recorded as cost of revenue and amounts billed to customers for shipping and handling costs are recorded in revenue.

Lessor Accounting

Manufacturer Incentives and Discounts

Advertising Costs

Comprehensive Income and Foreign Currency Matters

Stock-Based Compensation

Business Combinations

Segment Reporting

Exit and Disposal Costs



	Amount
	(in thousands)
Balance, January 31, 2012	$	455
Exit costs paid	(111		)
Balance, January 31, 2013	344
Exit costs incurred and charged to expense	308
Exit costs paid	(104		)
Balance, January 31, 2014	$	548

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jan. 31, 2014

Accounting Policies [Abstract]

Summary of estimated useful life of property and equipment

Depreciation and amortization are computed on a straight-line basis over the estimated useful life of each asset, as summarized below:



Buildings and leasehold improvements	Lesser of 10 - 40 years or lease term
Machinery and equipment	3 - 10 years
Furniture and fixtures	3 - 10 years
Vehicles	5 - 10 years
Rental fleet	3 - 10 years

Schedule of calculation of basic and diluted earnings per share

The following table sets forth the calculation of basic and diluted earnings per share:



	2014			2013			2012
	(in thousands, except per share data)
Numerator
Net Income Attributable to Titan Machinery Inc.	$	8,851		$	42,473		$	44,160
Net Income Allocated to Participating Securities	(129		)	(443		)	(409		)
Net Income Attributable to Titan Machinery Inc. Common Stockholders	$	8,722		$	42,030		$	43,751
Denominator
Basic Weighted-Average Common Shares Outstanding	20,894			20,787			19,809
Plus: Incremental Shares From Assumed Conversions of Stock Options and Warrants	146			200			301
Diluted Weighted-Average Common Shares Outstanding	21,040			20,987			20,110
Earnings per Share - Basic	$	0.42		$	2.02		$	2.21
Earnings per Share - Diluted	$	0.41		$	2.00		$	2.18

Schedule of reconciliation of the beginning and ending liability balance related to exit costs

A reconciliation of the beginning and ending liability balance follows:



	Amount
	(in thousands)
Balance, January 31, 2012	$	455
Exit costs paid	(111		)
Balance, January 31, 2013	344
Exit costs incurred and charged to expense	308
Exit costs paid	(104		)
Balance, January 31, 2014	$	548

RECEIVABLES (Tables)

12 Months Ended

Jan. 31, 2014

Receivables [Abstract]

Schedule of receivables



	January 31, 2014			January 31, 2013
	(in thousands)
Trade accounts receivable
Due from customers	$	53,870		$	45,222
Due from finance companies	20,154			47,967
Due from manufacturers	26,624			29,909
Total trade accounts receivable	100,648			123,098
Other receivables	909			1,025
	101,557			124,123
Less allowance for doubtful accounts	(3,663		)	(2,337		)
	$	97,894		$	121,786

INVENTORIES (Tables)

12 Months Ended

Jan. 31, 2014

Inventory Disclosure [Abstract]

Schedule of inventory



	January 31, 2014		January 31, 2013
	(in thousands)
New equipment	$	575,518	$	542,180
Used equipment	363,755		275,626
Parts and attachments	126,666		103,456
Work in process	10,039		7,954
	$	1,075,978	$	929,216

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Jan. 31, 2014

Property, Plant and Equipment [Abstract]

Schedule of property and equipment



	January 31, 2014			January 31, 2013
	(in thousands)
Rental fleet equipment	$	145,007		$	105,681
Machinery and equipment	23,382			21,086
Vehicles	44,200			38,742
Furniture and fixtures	35,860			27,766
Land, buildings, and leasehold improvements	60,470			56,845
	308,919			250,120
Less accumulated depreciation	(80,919		)	(55,479		)
	$	228,000		$	194,641

INTANGIBLE ASSETS AND GOODWILL (Tables)

12 Months Ended

Jan. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of intangible assets with finite lives

The following is a summary of intangible assets with finite lives as of January 31, 2014 and 2013:



	January 31, 2014							January 31, 2013
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
	(in thousands)							(in thousands)
Covenants not to compete	$	2,498	$	(1,424	)	$	1,074	$	2,280	$	(1,008	)	$	1,272
Customer relationships	1,330		(1,119		)	211		1,314		(703		)	611
	$	3,828	$	(2,543	)	$	1,285	$	3,594	$	(1,711	)	$	1,883

Schedule of expected future amortization expense

Future amortization expense, as of January 31, 2014, is expected to be as follows:



Years ending January 31,	Amount
	(in thousands)
2015	$	599
2016	423
2017	143
2018	74
2019	27
Thereafter	19
	$	1,285

Schedule of changes in the carrying amount of goodwill

Changes in the carrying amount of goodwill during the years ended January 31, 2014 and 2013 are summarized as follows:



	Agriculture		Construction			International			Total
	(in thousands)
Balance at January 31, 2012	$	19,765	$	3,767		$	872		$	24,404
Arising in completed business combinations	1,600		1,500			102			3,202
Adjustments to business combinations completed in prior years	3,277		—			—			3,277
Foreign currency translation adjustment	—		—			20			20
Balance at January 31, 2013	24,642		5,267			994			30,903
Arising in completed business combinations	—		71			—			71
Impairment	—		(5,338		)	(923		)	(6,261		)
Foreign currency translation adjustment	—		—			38			38
Balance at January 31, 2014	$	24,642	$	—		$	109		$	24,751

Schedule of Indefinite-Lived Intangible Assets [Table Text Block]

Changes in the carrying amount of indefinite lived intangible assets, which consisted entirely of distribution rights, during the years ended January 31, 2014 and 2013 are summarized as follows:



	Agriculture		Construction			International			Total
	(in thousands)
Balance at January 31, 2012	$	7,333	$	564		$	785		$	8,682
Arising in completed business combinations	2,251		481			769			3,501
Foreign currency translation adjustment	—		—			23			23
Balance at January 31, 2013	9,584		1,045			1,577			12,206
Arising in completed business combinations	—		149			—			149
Impairment	—		(1,122		)	(830		)	(1,952		)
Foreign currency translation adjustment	—		—			62			62
Balance at January 31, 2014	$	9,584	$	72		$	809		$	10,465

SENIOR CONVERTIBLE NOTES (Tables) (Senior Convertible Notes)

12 Months Ended

Jan. 31, 2014

Senior Convertible Notes

SENIOR CONVERTIBLE NOTES

Schedule of proceeds upon issuance of convertible notes

Proceeds upon issuance of the Senior Convertible Notes were as follows:



	April 24, 2012
	(in thousands)
Principal value	$	150,000
Less: transaction costs	(4,753		)
Net proceeds, senior convertible notes	$	145,247
Amounts recognized at issuance:
Senior convertible notes, net	$	123,319
Additional paid-in capital	15,546
Transaction costs allocated to the liability component	(3,907		)
Long-term deferred tax liability	10,289
Net proceeds, senior convertible notes	$	145,247

Schedule of convertible notes

As of January 31, 2014, the Senior Convertible Notes consisted of the following:



	January 31, 2014
	(in thousands, except conversion rate and conversion price)
Principal value	$	150,000
Unamortized debt discount	(21,107		)
Carrying value of senior convertible notes	$	128,893

Carrying value of equity component, net of deferred taxes	$	15,546

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

- 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 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 2: 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=6584090&loc=d3e28878-108400

Reference 3: 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=6451184&loc=d3e28551-108399

Reference 4: 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=6451184&loc=d3e28541-108399

Reference 5: 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=6928386&loc=d3e21475-112644

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

Reference 7: 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 8: 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=6928386&loc=d3e21506-112644

Reference 9: 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=6928386&loc=d3e21521-112644

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 8

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 470

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

+ Details

LONG-TERM DEBT (Tables) (Long-Term Debt (excluding senior convertible notes))

12 Months Ended

Jan. 31, 2014

Long-Term Debt (excluding senior convertible notes)

LONG-TERM DEBT

Summary of long-term debt

The following is a summary of long-term debt as of January 31, 2014 and 2013:



	January 31, 2014			January 31, 2013
	(in thousands)
Fixed rate notes payable to Wells Fargo Bank, N.A., interest rate of 3.46%, monthly interest payments with the principal payment due February 2015, secured by rental fleet equipment	$	33,982		$	42,634
Fixed rate notes payable to various finance and other companies, interest rates primarily ranging from 3.4% to 10.23%, due in monthly installments including interest and various maturity dates through December 2028, secured by fixed assets	15,878			12,403
Working Capital Line payable to Wells Fargo (see details in Note 6)	47,823			7,138
Variable rate notes payable to GE Commercial Distribution Finance Corporation, interest rate of LIBOR + 4.1%, monthly installment payments including interest, secured by rental fleet equipment	—			4,869
Other	41			116
	97,724			67,160
Less current maturities	(2,192		)	(10,568		)
	$	95,532		$	56,592

Schedule of long-term debt maturities

Long-term debt maturities are as follows:



Years Ending January 31,	Amount
	(in thousands)
2015	$	2,192
2016	36,765
2017	3,539
2018	739
2019	48,239
Thereafter	6,250
	$	97,724

- Definition

+ References

+ Details

DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Jan. 31, 2014

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 derivative instruments outstanding as of January 31, 2014 and 2013:



	Notional Amount as of:
	January 31, 2014		January 31, 2013
	(in thousands)
Net Investment Hedge:
Foreign currency contracts	$	43,742	$	—
Cash Flow Hedges:
Interest rate swap	100,000		—
Foreign currency contracts	4,754		—
Derivatives Not Designated as Hedging Instruments:
Foreign currency contracts	44,775		3,898

Schedule of fair value of derivative instruments outstanding

The following table sets forth the fair value of the Company's derivative instruments outstanding as of January 31, 2014 and 2013.



	Fair Value as of:
	January 31, 2014		January 31, 2013		Balance Sheet Location
	(in thousands)
Asset Derivatives
Derivatives designated as hedging instruments:
Net investment hedges:
Foreign currency contracts	$	157	$	—	Prepaid expenses and other
Derivatives not designated as hedging instruments:
Foreign currency contracts	279		—		Prepaid expenses and other
Total Asset Derivatives	$	436	$	—

Liability Derivatives
Derivatives designated as hedging instruments:
Cash flow hedges:
Interest rate swap	$	1,227	$	—	Accrued expenses
Foreign currency contracts	211		—		Accrued expenses
Derivatives not designated as hedging instruments:
Foreign currency contracts	—		86		Accrued expenses
Total Liability Derivatives	$	1,438	$	86

Schedule of gains and losses recognized on derivative instruments



	2014						2013
	Amount of Gain (Loss) Recognized in						Amount of Gain (Loss) Recognized in
	Other Comprehensive Income			Income			Other Comprehensive Income			Income			Income Statement Classification
	(in thousands)						(in thousands)
Derivatives Designated as Hedging Instruments:
Net investment hedges:
Foreign currency contracts	$	284		$	—		$	(834	)	$	(365	)	Interest and other income
Cash flow hedges:
Interest rate swap	(1,227		)	—			—			—			N/A
Foreign currency contracts	(211		)	—			—			—			N/A
Derivatives Not Designated as Hedging Instruments:
Foreign currency contracts	—			(720		)	—			(1,430		)	Interest and other income
Total Derivatives	$	(1,154	)	$	(720	)	$	(834	)	$	(1,795	)

ACCRUED EXPENSES (Tables)

12 Months Ended

Jan. 31, 2014

Payables and Accruals [Abstract]

Schedule of accrued expenses



	January 31, 2014		January 31, 2013
	(in thousands)
Compensation	$	19,533	$	18,025
Sales, payroll, real estate and value added taxes	6,405		4,930
Interest	2,299		2,389
Insurance	2,641		1,087
Deferred revenue	1,115		1,067
Derivative liabilities	1,438		86
Other	3,537		2,006
	$	36,968	$	29,590

OPERATING LEASES AND RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Jan. 31, 2014

Leases [Abstract]

Schedule of minimum future lease payments

Approximate future minimum lease payment commitments are as follows:



Years ending January 31,	Amount
	(in thousands)
2015	$	22,481
2016	19,315
2017	17,483
2018	16,288
2019	15,095
Thereafter	100,009
	$	190,671

INCOME TAXES (Tables)

12 Months Ended

Jan. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of net deferred tax assets and liabilities

Net deferred tax assets and liabilities consist of the following components as of January 31, 2014 and 2013:



	2014			2013
	(in thousands)
Deferred tax assets:
Inventory allowances	$	8,313		$	5,146
Accrued liabilities and other	2,943			1,682
Stock-based compensation	932			630
Receivables	1,378			899
Net operating losses	1,204			430
Other	888			315
Total deferred tax assets	15,658			9,102
Valuation allowances	(1,898		)	—
Deferred tax assets, net of valuation allowances	13,760			9,102

Deferred tax liabilities:
Property and equipment	$	(38,876	)	$	(36,124	)
Senior convertible notes	(8,076		)	(9,391		)
Intangibles	(459		)	(2,452		)
Other	—			(189		)
Total deferred tax liabilities	$	(47,411	)	$	(48,156	)

Schedule of provision for income taxes charged to income

The provision for income taxes charged to income for the years ended January 31, 2014, 2013 and 2012 consists of the following:



	2014			2013		2012
	(in thousands)
Currently payable (receivable)
Federal	$	13,086		$	17,588	$	9,342
Foreign	149			287		(10		)
State	2,029			4,154		4,068
Deferred	(4,939		)	6,108		16,029
	$	10,325		$	28,137	$	29,429

Schedule of reconciliation of statutory federal income tax rate to the Company's effective rate

The reconciliation of the statutory federal income tax rate to the Company's effective rate is as follows:



	2014		2013		2012
U.S. statutory rate	35.0	%	35.0	%	35.0	%
Foreign statutory rates	2.9	%	(0.4	)%	—	%
State taxes on income net of federal tax benefit	4.5	%	4.7	%	4.9	%
Valuation allowances	10.3	%	—	%	—	%
All other, net	3.3	%	0.5	%	0.1	%
	56.0	%	39.8	%	40.0	%

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jan. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of stock option activity

The following table summarizes stock option activity for the year ended January 31, 2014:



	Number of Options		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
	(in thousands)				(in thousands)
Outstanding at January 31, 2013	386		$	11.64	$	6,665	4.8
Granted	—		—
Exercised	(10	)	8.33
Forfeited	—		—
Outstanding at January 31, 2014	376		$	11.72	$	2,336	3.8
Exercisable at January 31, 2014	347		$	11.10	$	2,297	3.7

Summary of information related to options outstanding and exercisable

The following is a summary of information related to options outstanding and exercisable at January 31, 2014:



	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price		Number	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price
	(in thousands)				(in thousands)
$ 4.00-4.50	58	2.3	$	4.46	58	2.3	$	4.46
7.50-10.20	195	3.8	8.35		193	3.8	8.33
11.15-14.69	24	4.8	12.01		18	4.8	12.07
21.21-26.84	99	4.5	22.47		78	4.5	22.53
	376	3.8	$	11.72	347	3.7	$	11.10

Summary of restricted stock activity

The following table summarizes restricted stock activity for the year ended January 31, 2014:



	Shares		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life (Years)
	(in thousands)
Nonvested at January 31, 2013	255		$	22.09	3.0
Granted	140		20.92
Forfeited	(7	)	24.02
Vested	(67	)	19.60
Nonvested at January 31, 2014	321		$	22.05	3.3

BUSINESS COMBINATIONS (Tables)

12 Months Ended

Jan. 31, 2014

Business Combinations [Abstract]

Schedule of allocations of purchase prices in business combinations

The allocations of the purchase prices in the above business combinations are presented in the following table:



	2014		2013		2012
	(in thousands)
Cash	$	2	$	3	$	99
Receivables	270		2,804		5,362
Inventories	2,658		29,120		49,818
Prepaid expenses and other	—		352		694
Deferred income taxes	—		—		13
Property and equipment	2,119		4,831		11,238
Intangible assets	182		4,029		6,653
Goodwill	71		6,479		6,033
	$	5,302	$	47,618	$	79,910
Accounts payable	$	—	$	3,119	$	1,120
Floorplan payable	—		7,572		17,389
Customer deposits	4		1,586		1,143
Accrued expenses	—		21		37
Income taxes payable	—		—		390
Long-term debt	—		—		585
Deferred income taxes	—		—		1,440
	$	4	$	12,298	$	22,104
Cash consideration	4,850		31,880		48,547
Non-cash consideration: liabilities incurred	448		3,440		9,259
Total consideration	$	5,298	$	35,320	$	57,806
Goodwill related to the Agriculture operating segment	$	—	$	4,877	$	3,434
Goodwill related to the Construction operating segment	$	71	$	1,500	$	1,706
Goodwill related to the International operating segment	$	—	$	102	$	893

Goodwill expected to be deductible for tax purposes	$	71	$	6,107	$	4,730

FAIR VALUE OF FINANCIAL INSTRUMENTS Tables (Tables)

12 Months Ended

Jan. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

The assets and liabilities which are measured at fair value on a recurring basis as of January 31, 2014 and 2013 are as follows:



	January 31, 2014										January 31, 2013
	Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3		Total
	(in thousands)										(in thousands)
Financial Assets
Foreign currency contracts	$	—	$	436		$	—	$	436		$	—	$	—		$	—	$	—
Total Financial Assets	$	—	$	436		$	—	$	436		$	—	$	—		$	—	$	—

Financial Liabilities
Interest rate swap	$	—	$	(1,227	)	$	—	$	(1,227	)	$	—	$	—		$	—	$	—
Foreign currency contracts	—		(211		)	—		(211		)	—		(86		)	—		(86		)
Total Financial Liabilities	$	—	$	(1,438	)	$	—	$	(1,438	)	$	—	$	(86	)	$	—	$	(86	)

Fair Value, by Balance Sheet Grouping

The following table provides details on the Senior Convertible Notes as of January 31, 2014 and 2013. 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 (see Note 7). Fair value of the Senior Convertible Notes was estimated based on Level 2 fair value inputs.



	January 31, 2014						January 31, 2013
	Estimated Fair Value		Carrying Value		Face Value		Estimated Fair Value		Carrying Value		Face Value
	(in thousands)						(in thousands)
Senior convertible notes	$	128,522	$	128,893	$	150,000	$	152,760	$	125,666	$	150,000

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References+ Details

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details

SEGMENT INFORMATION AND OPERATING RESULTS (Tables)

12 Months Ended

Jan. 31, 2014

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.



	January 31, 2014			January 31, 2013			January 31, 2012
	(in thousands)
Revenue
Agriculture	$	1,765,821		$	1,827,023		$	1,435,387
Construction	405,822			380,295			279,152
International	145,884			72,510			5,907
Segment revenue	2,317,527			2,279,828			1,720,446
Eliminations	(91,081		)	(81,408		)	(61,454		)
Total	$	2,226,446		$	2,198,420		$	1,658,992
Income (Loss) Before Income Taxes
Agriculture	$	59,574		$	83,256		$	73,953
Construction	(28,083		)	(4,708		)	5,461
International	(5,544		)	541			458
Segment income (loss) before income taxes	25,947			79,089			79,872
Shared Resources	(6,650		)	(6,902		)	(5,993		)
Eliminations	(868		)	(1,491		)	(305		)
Income before income taxes	$	18,429		$	70,696		$	73,574
Impairment
Agriculture	$	—		$	—		$	—
Construction	8,243			—			—
International	1,754			—			—
Segment impairment	9,997			—			—
Shared Resources	—			—			—
Total	$	9,997		$	—		$	—



	January 31, 2014			January 31, 2013			January 31, 2012
	(in thousands)
Interest Income
Agriculture	$	270		$	181		$	117
Construction	638			510			299
International	102			—			—
Segment interest income	1,010			691			416
Shared Resources	22			13			—
Total	$	1,032		$	704		$	416
Interest Expense
Agriculture	$	16,052		$	13,324		$	10,601
Construction	10,751			8,634			3,267
International	4,562			957			5
Segment interest expense	31,365			22,915			13,873
Shared Resources	(810		)	(153		)	(4,203		)
Total	$	30,555		$	22,762		$	9,670
Depreciation and Amortization
Agriculture	$	8,196		$	7,056		$	5,497
Construction	18,064			13,546			7,568
International	1,110			340			—
Segment depreciation and amortization	27,370			20,942			13,065
Shared Resources	3,424			2,522			2,198
Total	$	30,794		$	23,464		$	15,263
Capital Expenditures
Agriculture	$	4,634		$	7,470		$	6,145
Construction	2,752			16,175			9,447
International	4,015			1,070			—
Segment capital expenditures	11,401			24,715			15,592
Shared Resources	7,609			15,117			5,830
Total	$	19,010		$	39,832		$	21,422
Total Assets
Agriculture	$	943,212		$	781,382		$	766,075
Construction	308,525			346,554			250,474
International	195,534			119,132			15,023
Segment assets	1,447,271			1,247,068			1,031,572
Shared Resources	$	120,335		$	199,849		$	57,882
Eliminations	(2,958		)	(2,843		)	(1,382		)
Total	$	1,564,648		$	1,444,074		$	1,088,072

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

SELECTED QUARTERLY FINANCIAL DATA (Unaudited) (Tables)

12 Months Ended

Jan. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial information

The following reflects selected quarterly financial information for fiscal years 2014 and 2013.



	Revenue		Gross Profit		Net Income Attributable to Titan Machinery Inc.			Earnings per Share-Basic			Earnings per Share-Diluted
	(in thousands, except per share data)
2014
First quarter	$	441,674	$	73,948	$	(414	)	$	(0.02	)	$	(0.02	)
Second quarter	488,180		83,542		3,833			0.18			0.18
Third quarter	587,961		93,606		5,825			0.27			0.27
Fourth quarter	708,631		96,978		(393		)	(0.02		)	(0.02		)
2013
First quarter	$	421,723	$	70,409	$	7,597		$	0.36		$	0.36
Second quarter	410,071		70,364		5,209			0.25			0.25
Third quarter	582,112		94,059		14,061			0.67			0.66
Fourth quarter	784,514		104,529		15,606			0.74			0.73

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2013
Cash and Cash Equivalents
Cash equivalents	$ 0	$ 0
Receivables and Credit Policy
Period from the invoice date within which trade accounts receivable due from customers	30 days
Buildings and leasehold improvements \| Minimum
Property and Equipment
Estimated useful life	10 years
Buildings and leasehold improvements \| Maximum
Property and Equipment
Estimated useful life	40 years
Machinery and equipment \| Minimum
Property and Equipment
Estimated useful life	3 years
Machinery and equipment \| Maximum
Property and Equipment
Estimated useful life	10 years
Furniture and fixtures \| Minimum
Property and Equipment
Estimated useful life	3 years
Furniture and fixtures \| Maximum
Property and Equipment
Estimated useful life	10 years
Vehicles \| Minimum
Property and Equipment
Estimated useful life	5 years
Vehicles \| Maximum
Property and Equipment
Estimated useful life	10 years
Rental fleet \| Minimum
Property and Equipment
Estimated useful life	3 years
Rental fleet \| Maximum
Property and Equipment
Estimated useful life	10 years

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Details 2) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2014 unit	Jan. 31, 2013	Jan. 31, 2012
Accounting Policies [Abstract]
Number of reporting units which carry a goodwill balance		4
Impairment of Long-Lived Assets
Impairment	$ 9,997	$ 9,997	$ 0	$ 0
Customer relationships
Intangible Assets
Expected period of benefit		3 years 0 months 0 days
Covenants not to compete \| Minimum
Intangible Assets
Expected period of benefit		3 years 0 months 0 days
Covenants not to compete \| Maximum
Intangible Assets
Expected period of benefit		10 years 0 months 0 days

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Details 3) (USD $)	0 Months Ended	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Loss	$ 1,500,000
Net foreign currency transaction gain		900,000
Fair value of derivative liability for outstanding foreign currency forward contracts	$ 1,438,000	$ 86,000

- Definition

The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).

+ References+ Details

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Details 4) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2013	Jan. 31, 2013	Oct. 31, 2012	Jul. 31, 2012	Apr. 30, 2012	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012
Numerator
Net income attributable to Titan Machinery Inc.	$ (393)	$ 5,825	$ 3,833	$ (414)	$ 15,606	$ 14,061	$ 5,209	$ 7,597	$ 8,851	$ 42,473	$ 44,160
Net income allocated to participating securities									(129)	(443)	(409)
Net income attributable to Titan Machinery Inc. common stockholders									$ 8,722	$ 42,030	$ 43,751
Denominator
Basic weighted-average common shares outstanding									20,894	20,787	19,809
Plus: Incremental shares from assumed conversions of stock options and warrants									146	200	301
Diluted weighted-average common shares outstanding									21,040	20,987	20,110
Earnings per share - basic (in dollars per share)	$ (0.02)	$ 0.27	$ 0.18	$ (0.02)	$ 0.74	$ 0.67	$ 0.25	$ 0.36	$ 0.42	$ 2.02	$ 2.21
Earnings per share - diluted (in dollars per share)	$ (0.02)	$ 0.27	$ 0.18	$ (0.02)	$ 0.73	$ 0.66	$ 0.25	$ 0.36	$ 0.41	$ 2.00	$ 2.18
Stock Options
Anti-dilutive securities
Anti-dilutive securities excluded from the calculation of diluted earnings per share (in shares)									99	10	119
Convertible Notes
Anti-dilutive securities
Anti-dilutive securities excluded from the calculation of diluted earnings per share (in shares)									3,474
Conversion price of shares underlying convertible notes	$ 43.17								$ 43.17

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Details 5) (USD $)	12 Months Ended
	Jan. 31, 2014 segment	Jan. 31, 2013	Jan. 31, 2012
Lessor Accounting
Property and equipment, net	$ 308,919,000	$ 250,120,000
Accumulated depreciation	80,919,000	55,479,000
Advertising Costs
Advertising expense	5,900,000	5,600,000	4,300,000
Comprehensive Income and Foreign Currency Matters
Net foreign currency transaction gain		900,000
Segment Reporting
Number of reportable segments	3
Rental fleet equipment
Lessor Accounting
Maximum lease period	1 year
Rental revenue	68,600,000	54,600,000	42,000,000
Property and equipment, net	145,000,000	105,700,000
Accumulated depreciation	$ 29,100,000	$ 16,800,000

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Details 6) (Construction, USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jan. 31, 2013	Jan. 31, 2012	Jan. 31, 2014
Construction
Reconciliation of the beginning and ending liability balance related to exit and disposal costs
Restructuring reserve, Beginning Balance	$ 455		$ 548
Exit costs incurred and charged to expense	308
Exit costs paid	(104)	(111)
Restructuring reserve, Ending Balance	$ 344	$ 455	$ 548

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References+ Details

RECEIVABLES (Details) (USD $) In Thousands, unless otherwise specified	Jan. 31, 2014	Jan. 31, 2013
Receivables
Trade accounts receivable	$ 100,648	$ 123,098
Other receivables	909	1,025
Receivables, gross	101,557	124,123
Less allowance for doubtful accounts	(3,663)	(2,337)
Receivables, net	97,894	121,786
Due from customers
Receivables
Trade accounts receivable	53,870	45,222
Due from finance companies
Receivables
Trade accounts receivable	20,154	47,967
Due from manufacturers
Receivables
Trade accounts receivable	$ 26,624	$ 29,909

INVENTORIES (Details) (USD $) In Thousands, unless otherwise specified	Jan. 31, 2014	Jan. 31, 2013
Inventory Disclosure [Abstract]
New equipment	$ 575,518	$ 542,180
Used equipment	363,755	275,626
Parts and attachments	126,666	103,456
Work in process	10,039	7,954
Inventories	$ 1,075,978	$ 929,216

PROPERTY AND EQUIPMENT (Details) (USD $)	12 Months Ended
PROPERTY AND EQUIPMENT (Details) (USD $)	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012
PROPERTY AND EQUIPMENT
Property and equipment, gross	$ 308,919,000	$ 250,120,000
Less accumulated depreciation	(80,919,000)	(55,479,000)
Property and equipment, net	228,000,000	194,641,000
Depreciation expense	30,000,000	22,700,000	14,700,000
Rental fleet equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	145,007,000	105,681,000
Machinery and equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	23,382,000	21,086,000
Vehicles
PROPERTY AND EQUIPMENT
Property and equipment, gross	44,200,000	38,742,000
Furniture and fixtures
PROPERTY AND EQUIPMENT
Property and equipment, gross	35,860,000	27,766,000
Land, buildings, and leasehold improvements
PROPERTY AND EQUIPMENT
Property and equipment, gross	$ 60,470,000	$ 56,845,000

INTANGIBLE ASSETS AND GOODWILL (Details) (USD $)	12 Months Ended
INTANGIBLE ASSETS AND GOODWILL (Details) (USD $)	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012
INTANGIBLE ASSETS
Cost	$ 3,828,000	$ 3,594,000
Accumulated Amortization	(2,543,000)	(1,711,000)
Net	1,285,000	1,883,000
Amortization expense	800,000	800,000	600,000
Indefinite lived intangible assets
Indefinite-lived intangible assets	10,465,000	12,206,000	8,682,000
Covenants not to compete
INTANGIBLE ASSETS
Cost	2,498,000	2,280,000
Accumulated Amortization	(1,424,000)	(1,008,000)
Net	1,074,000	1,272,000
Acquired finite lived intangible assets	200,000	300,000
Weighted-average amortization period	5 years 0 months 0 days	3 years 8 months 28 days
Customer relationships
INTANGIBLE ASSETS
Cost	1,330,000	1,314,000
Accumulated Amortization	(1,119,000)	(703,000)
Net	211,000	611,000
Acquired finite lived intangible assets		$ 400,000
Weighted-average amortization period		3 years 0 months 0 days

INTANGIBLE ASSETS AND GOODWILL (Details 2) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment	$ 9,997	$ 9,997	$ 0	$ 0
Future amortization expense
2015	599	599
2016	423	423
2017	143	143
2018	74	74
2019	27	27
Thereafter	19	19
Net	$ 1,285	$ 1,285	$ 1,883

INTANGIBLE ASSETS AND GOODWILL INDEFINITE LIVED INTAGIBLE (Details 3) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2013
Changes in carrying amount of goodwill
Balance at the beginning of the period	$ 30,903	$ 24,404
Arising in completed business combinations	71	3,202
Adjustments to business combinations completed in prior years	(6,261)	3,277
Foreign currency translation adjustment	38	20
Balance at the end of the period	24,751	30,903
Fair value determination period	5 years
Agriculture
Changes in carrying amount of goodwill
Balance at the beginning of the period	24,642	19,765
Arising in completed business combinations	0	1,600
Adjustments to business combinations completed in prior years	0	3,277
Foreign currency translation adjustment	0	0
Balance at the end of the period	24,642	24,642
Construction
Changes in carrying amount of goodwill
Balance at the beginning of the period	5,267	3,767
Arising in completed business combinations	71	1,500
Adjustments to business combinations completed in prior years	(5,338)	0
Foreign currency translation adjustment	0	0
Balance at the end of the period	0	5,267
International
Changes in carrying amount of goodwill
Balance at the beginning of the period	994	872
Arising in completed business combinations	0	102
Adjustments to business combinations completed in prior years	(923)	0
Foreign currency translation adjustment	38	20
Balance at the end of the period	109	994
Construction and Romanian Reporting Units
Changes in carrying amount of goodwill
Goodwill, implied fair value	$ 0

INTANGIBLE ASSETS AND GOODWILL (Details 4) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012
Indefinite-lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	$ 10,465	$ 10,465	$ 12,206	$ 8,682
Impairment		(1,952)
Indefinite-lived Intangible Assets Acquired		149	3,501
Indefinite-lived Intangible Assets, Translation Adjustments		62	23
Impairment	9,997	9,997	0	0
Agriculture
Indefinite-lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	9,584	9,584	9,584	7,333
Impairment		0
Indefinite-lived Intangible Assets Acquired		0	2,251
Indefinite-lived Intangible Assets, Translation Adjustments		0	0
Impairment		0	0	0
Construction
Indefinite-lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	72	72	1,045	564
Impairment		(1,122)
Indefinite-lived Intangible Assets Acquired		149	481
Indefinite-lived Intangible Assets, Translation Adjustments		0	0
Impairment		8,243	0	0
International
Indefinite-lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	809	809	1,577	785
Impairment		(830)
Indefinite-lived Intangible Assets Acquired		0	769
Indefinite-lived Intangible Assets, Translation Adjustments		62	23
Impairment		1,754	0	0
Certain Distribution Rights
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangibles, fair value	$ 0	$ 0

LINES OF CREDIT/FLOORPLAN NOTES PAYABLE (Details) (USD $)	12 Months Ended		12 Months Ended		0 Months Ended	12 Months Ended								12 Months Ended						12 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2014 Group of banks led by Wells Fargo Bank	Jan. 31, 2014 CNH Capital America LLC	Jan. 31, 2015 Agricredit Acceptance LLC	Jan. 31, 2014 Agricredit Acceptance LLC	Jan. 31, 2014 Credit facility Group of banks led by Wells Fargo Bank	Jan. 31, 2014 Credit facility Group of banks led by Wells Fargo Bank Minimum	Jan. 31, 2014 Credit facility Group of banks led by Wells Fargo Bank Maximum quarter	Jan. 31, 2014 Working capital line of credit Group of banks led by Wells Fargo Bank	Jan. 31, 2014 Floorplan lines of credit	Jan. 31, 2013 Floorplan lines of credit	Jan. 31, 2014 Floorplan lines of credit Group of banks led by Wells Fargo Bank	Jan. 31, 2014 Floorplan lines of credit CNH Capital America LLC	Jan. 31, 2014 Floorplan lines of credit Agricredit Acceptance LLC	Jan. 31, 2014 Floorplan lines of credit Agricredit Acceptance LLC Minimum	Jan. 31, 2014 Floorplan lines of credit Agricredit Acceptance LLC Maximum	Jan. 31, 2014 Floorplan notes payable for credit facility	Jan. 31, 2014 Foreign Subsidiaries Floorplan lines of credit	Jan. 31, 2014 Credit Agreement, through October 31, 2014 Group of banks led by Wells Fargo Bank	Jan. 31, 2014 Credit Agreement, from January 31, 2015 through August 31, 2018 Group of banks led by Wells Fargo Bank	Jan. 31, 2014 Credit Agreement, after October 31, 2014 Group of banks led by Wells Fargo Bank
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Line of Credit Facility, Number of Lines of Credit	3
Maximum borrowing capacity										$ 112,500,000	$ 1,175,680,000		$ 350,000,000	$ 450,000,000	$ 225,000,000				$ 150,680,000
Basis of variable interest rate							LIBOR							prime	LIBOR
Margin over variable rate basis (as a percent)								1.50%	2.63%					4.00%		4.75%	5.25%
Line of Credit Facility Covenant, Maximum level of adjusted debt to tangible net worth				3.0
Line of Credit Facility Covenant, Minimum debt service ratio				1.2
Non-usage fee on average monthly unused amount (as a percent)								0.30%	0.40%
Line of Credit Facility, Covenant Compliance, Minimum Fixed Charge Coverage Ratio			1.25			1.25
Line of Credit Facility, Covenant Compliance, Maximum Leverage Ratio					3.00	3.25														3.25	3.00
Line of Credit Facility, Covenant Compliance, minimum net income adjusted for impairment and realignment charges																				5,000,000		10,000,000
Percentage of net income permitted to be paid as cash dividends									50.00%
Number of trailing quarters									4
Floorplan payable	750,533,000	689,410,000									692,800,000	662,200,000
Available borrowings remaining under lines of credit											$ 410,700,000
Interest rate, Minimum (as a percent)																		2.78%
Interest rate, Maximum (as a percent)																		7.25%
Notice period for increasing, decreasing or termination of credit facility															90 days

SENIOR CONVERTIBLE NOTES (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	1 Months Ended	12 Months Ended
	Apr. 30, 2012	Jan. 31, 2014
Minimum
SENIOR CONVERTIBLE NOTES
Number of days within 30 consecutive trading days in which the closing price of the entity's common stock must exceed the conversion price for the notes to be convertible		20 days
Percentage of the conversion price that the closing sales price of the entity's common stock must equal or exceed in order for the notes to be convertible		120.00%
Percentage of principal amount of outstanding debt held by trustee or holders, in which they may declare debt to be due and payable immediately in event of default		25.00%
Minimum \| Period after May 6, 2015
SENIOR CONVERTIBLE NOTES
Percentage of the conversion price that the closing sales price of the entity's common stock must equal or exceed in order for the notes to be redeemable		120.00%
Maximum
SENIOR CONVERTIBLE NOTES
Percentage of the trading price to the product of the last reported sale price of the entity's common stock and the conversion rate		98.00%
Convertible Notes
SENIOR CONVERTIBLE NOTES
Amount of debt issued	$ 150
Interest rate (as a percent)		3.75%
Initial conversion rate of common stock per $1,000 of principal amount of Convertible Notes (in shares)		0.0231626
Initial effective conversion price (in dollars per share)		$ 43.17
Number of consecutive trading days during which the closing price of the entity's common stock must equal or exceed the conversion price in order for the notes to be convertible		30 days
Number of consecutive business days immediately after any five consecutive trading day period during the note measurement period		5 days
Number of consecutive trading days before five consecutive business days during the note measurement period		5 days
Percentage of principal amount at which notes may be required to be repurchased in event of fundamental change by the entity		100.00%
Discount rate (as a percent)		7.00%
Convertible Notes \| Period after May 6, 2015
SENIOR CONVERTIBLE NOTES
Number of consecutive trading days during which the closing price of the entity's common stock must equal or exceed the conversion price in order for the notes to be convertible		30 days
Convertible Notes \| Minimum \| Period after May 6, 2015
SENIOR CONVERTIBLE NOTES
Number of days within 30 consecutive trading days in which the closing price of the entity's common stock must exceed the conversion price for the notes to be redeemable		20 days

SENIOR CONVERTIBLE NOTES (Details 2) (USD $)	1 Months Ended	12 Months Ended
SENIOR CONVERTIBLE NOTES (Details 2) (USD $)	Apr. 30, 2012	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012	Apr. 24, 2012
Proceeds from Issuance of Long-term Debt [Abstract]
Additional paid-in capital			$ 15,546,000
Convertible notes
Principal value		150,000,000	150,000,000
Coupon interest expense recognized		13,791,000	9,465,000	1,347,000
Net proceeds, senior convertible notes			145,247,000
Convertible Notes
Proceeds from Issuance of Long-term Debt [Abstract]
Senior convertible notes, net		128,893,000			123,319,000
Additional paid-in capital				15,546,000
Transaction costs allocated to the liability component					(3,907,000)
Long-term deferred tax liability	10,289,000
Convertible notes
Principal value		150,000,000
Unamortized debt discount		(21,107,000)
Carrying value of senior convertible notes		128,893,000			123,319,000
Carrying value of equity component, net of deferred taxes		15,546,000
Conversion rate (shares of common stock per $1,000 principal amount of notes)		0.0231626
Conversion price (per share of common stock)		$ 43.17
Period over which unamortized debt discount will be amortized		5 years 3 months
Coupon interest expense recognized		5,600,000	4,300,000
Amortization of debt discount recognized as non-cash interest expense		3,200,000	2,300,000
Amortization of the liability-allocated transaction costs		500,000	400,000
Effective interest rate (as a percent)		7.00%
Principal value	150,000,000
Less: transaction costs	(4,753,000)
Net proceeds, senior convertible notes	$ 145,247,000			$ 145,247,000

LONG-TERM DEBT (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2013
LONG-TERM DEBT
Long term debt	$ 97,724	$ 67,160
Less current maturities	(2,192)	(10,568)
Long term debt noncurrent	95,532	56,592
Fixed rate notes payable, mature due February 2015
LONG-TERM DEBT
Interest rate, Minimum (as a percent)	3.46%
Long term debt	33,982	42,634
Fixed rate notes payable, mature through December 2028
LONG-TERM DEBT
Long term debt	15,878	12,403
Working Capital Line Payable
LONG-TERM DEBT
Long term debt	47,823	7,138
Variable rate notes payable
LONG-TERM DEBT
Long term debt	0	4,869
Variable rate base	LIBOR
Interest rate margin (as a percent)	4.10%
Other
LONG-TERM DEBT
Long term debt	$ 41	$ 116
Minimum \| Fixed rate notes payable, mature through December 2028
LONG-TERM DEBT
Interest rate, Minimum (as a percent)	3.40%
Maximum \| Fixed rate notes payable, mature through December 2028
LONG-TERM DEBT
Interest rate, Maximum (as a percent)	10.23%

LONG-TERM DEBT (Details 2) (USD $) In Thousands, unless otherwise specified	Jan. 31, 2014	Jan. 31, 2013
Long-term debt maturities
2015	$ 2,192
2016	36,765
2017	3,539
2018	739
2019	48,239
Thereafter	6,250
Long term debt	$ 97,724	$ 67,160

DERIVATIVE INSTRUMENTS (Details) (USD $)				12 Months Ended				12 Months Ended					12 Months Ended								12 Months Ended						12 Months Ended
DERIVATIVE INSTRUMENTS (Details) (USD $)	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012	Jan. 31, 2014 Foreign currency forward contracts	Jan. 31, 2013 Foreign currency forward contracts	Jan. 31, 2014 Foreign currency forward contracts Net Investment Hedges Forward-starting contract	Jan. 31, 2013 Foreign currency forward contracts Net Investment Hedges Forward-starting contract	Jan. 31, 2014 Foreign currency forward contracts Cash Flow Hedging	Jan. 31, 2014 Foreign currency forward contracts Cash Flow Hedging Forward-starting contract	Jan. 31, 2013 Foreign currency forward contracts Cash Flow Hedging Forward-starting contract	Jan. 31, 2014 Foreign currency forward contracts Designated as Hedging Instrument [Member]	Jan. 31, 2013 Foreign currency forward contracts Designated as Hedging Instrument [Member]	Jan. 31, 2014 Foreign currency forward contracts Designated as Hedging Instrument [Member] Net Investment Hedges	Jan. 31, 2013 Foreign currency forward contracts Designated as Hedging Instrument [Member] Net Investment Hedges	Jan. 31, 2014 Foreign currency forward contracts Designated as Hedging Instrument [Member] Cash Flow Hedging	Jan. 31, 2013 Foreign currency forward contracts Designated as Hedging Instrument [Member] Cash Flow Hedging	Jan. 31, 2014 Foreign currency forward contracts Not designated as hedging instruments	Jan. 31, 2013 Foreign currency forward contracts Not designated as hedging instruments	Jan. 31, 2014 Foreign currency forward contracts Not designated as hedging instruments Cash Flow Hedging Forward-starting contract	Jan. 31, 2013 Foreign currency forward contracts Not designated as hedging instruments Cash Flow Hedging Forward-starting contract	Jan. 31, 2014 Interest rate swap Cash Flow Hedging	Jan. 31, 2014 Interest rate swap Cash Flow Hedging Forward-starting contract	Oct. 09, 2013 Interest rate swap Cash Flow Hedging Forward-starting contract	Jan. 31, 2013 Interest rate swap Cash Flow Hedging Forward-starting contract	Jan. 31, 2014 Interest rate swap Designated as Hedging Instrument [Member]	Jan. 31, 2013 Interest rate swap Designated as Hedging Instrument [Member]	Jan. 31, 2014 Interest rate swap Designated as Hedging Instrument [Member] Cash Flow Hedging	Jan. 31, 2013 Interest rate swap Designated as Hedging Instrument [Member] Cash Flow Hedging
DERIVATIVE INSTRUMENTS
Notional amount outstanding			$ 0			$ 43,742,000	$ 0		$ 4,754,000	$ 0									$ 44,775,000	$ 3,898,000		$ 100,000,000		$ 0
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Before Tax								(200,000)													(1,200,000)
Derivative, Fixed Interest Rate																							1.901%
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]
Fair value of derivative asset	436,000	0									157,000	0					279,000	0
Derivative Liability, Fair Value, Amount Not Offset Against Collateral [Abstract]
Fair value of derivative liability	1,438,000	86,000									211,000	0					0	86,000							1,227,000	0
Gains and Losses Recognized on Derivative Instruments:
Amount of Gain (Loss) Recognized in Other Comprehensive Income				(1,154,000)	(834,000)								284,000	(834,000)	(211,000)	0	0	0									(1,227,000)	0
Amount of Gain (Loss) Recognized in Income				(720,000)	(1,795,000)								0	(365,000)	0	0	(720,000)	(1,430,000)									0	0
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months								$ (100,000)													$ (500,000)

ACCRUED EXPENSES (Details) (USD $) In Thousands, unless otherwise specified	Jan. 31, 2014	Jan. 31, 2013
Payables and Accruals [Abstract]
Compensation	$ 19,533	$ 18,025
Sales, payroll, real estate and value added taxes	6,405	4,930
Interest	2,299	2,389
Health insurance claims liability	2,641	1,087
Deferred revenue	1,115	1,067
Derivative liabilities	1,438	86
Other	3,537	2,006
Total accrued expenses	$ 36,968	$ 29,590

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable to insurance entities to mitigate potential loss from various risks or to satisfy a promise to provide certain coverage's to employees. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References+ Details

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.

+ References+ Details

- Definition

Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References+ Details

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References+ Details

OPERATING LEASES AND RELATED PARTY TRANSACTIONS (Details) (USD $)	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012
OPERATING LEASES AND RELATED PARTY TRANSACTIONS
Rent and lease expense	$ 21,600,000	$ 17,300,000	$ 13,100,000
Proceeds from sale-leaseback agreement		1,300,000	6,800,000
Minimum future lease payments
2015	22,481,000
2016	19,315,000
2017	17,483,000
2018	16,288,000
2019	15,095,000
Thereafter	100,009,000
Total	190,671,000
Dealer Sites
OPERATING LEASES AND RELATED PARTY TRANSACTIONS
Maximum related party ownership (as a percent)	10.00%
Number of buildings leased		48	46
C.I. Farm Power, Inc.
OPERATING LEASES AND RELATED PARTY TRANSACTIONS
Number of buildings leased	1
Lease termination notice period	60 days
C.I. Construction
OPERATING LEASES AND RELATED PARTY TRANSACTIONS
Payments for cost reimbursements	3,900,000	6,700,000	3,200,000
Accounts Receivable, Related Parties	100,000
Cherry Tree & Associates, LLC
OPERATING LEASES AND RELATED PARTY TRANSACTIONS
Payment for services related to the convertible notes offering		200,000
Related parties
OPERATING LEASES AND RELATED PARTY TRANSACTIONS
Rent and lease expense	$ 100,000	$ 7,000,000	$ 6,300,000
Building
OPERATING LEASES AND RELATED PARTY TRANSACTIONS
Number of buildings leased	143
Maximum
OPERATING LEASES AND RELATED PARTY TRANSACTIONS
Lease term	15 years

INCOME TAXES (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012
Current payable (receivable)
Federal	$ 13,086	$ 17,588	$ 9,342
Foreign	149	287	(10)
State	2,029	4,154	4,068
Deferred	(4,939)	6,108	16,029
Total	10,325	28,137	29,429
Reconciliation of statutory federal income tax rate to effective rate
U.S. statutory rate (as a percent)	35.00%	35.00%	35.00%
Foreign statutory rates (as a percent)	2.90%	(0.40%)	0.00%
State taxes on income net of federal tax benefit (as a percent)	4.50%	4.70%	4.90%
Valuation allowances (as a percent)	10.30%	0.00%	0.00%
All other, net (as a percent)	3.30%	0.50%	0.10%
Effective tax rate (as a percent)	56.00%	39.80%	40.00%
Current deferred tax assets:
Inventory allowances	8,313	5,146
Accrued liabilities and other	2,943	1,682
Stock-based compensation	932	630
Receivables	1,378	899
Net operating losses	1,204	430
Other	888	315
Total deferred tax assets	15,658	9,102
Valuation allowances	(1,898)	0
Deferred tax assets, net of valuation allowances	13,760	9,102
Non-current deferred tax assets (liabilities):
Property and equipment	(38,876)	(36,124)
Convertible debt	(8,076)	(9,391)
Intangibles	(459)	(2,452)
Other	0	(189)
Total deferred tax liabilities	$ (47,411)	$ (48,156)

INCOME TAXES INCOME TAXES (Details 2) (USD $) In Millions, unless otherwise specified	Jan. 31, 2014
Operating Loss Carryforwards [Line Items]
Undistributed earnings in non-U.S. subsidiaries	$ 2.8
Additional U.S. income taxes to be paid on repatriation of undistributed earnings	0.8
Valuation allowance on deferred tax asset, including net operating losses	1.9
Foreign jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 5.2

- Definition

Amount of undistributed earnings of foreign subsidiaries intended to be permanently reinvested outside the country of domicile.

+ References+ Details

CAPITAL STRUCTURE (Details) (USD $)	Jan. 31, 2014	Jan. 31, 2013	Jun. 01, 2012	May 31, 2012
Stockholders' Equity Note [Abstract]
Shares authorized for issuance			50,000,000	30,000,000
Par value of shares authorized (in dollars per share)	$ 0.00001	$ 0.00001	$ 0.00001	$ 0.00001
Common stock, authorized shares	45,000,000	45,000,000	45,000,000	25,000,000
Undesignated shares authorized			5,000,000	5,000,000

STOCK-BASED COMPENSATION (Details) (USD $)	12 Months Ended
STOCK-BASED COMPENSATION (Details) (USD $)	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012	Jun. 30, 2011
Stock options
Number of Options
Balance at the beginning of the period (in shares)	386,000
Granted (in shares)	0
Exercised (in shares)	(10,000)
Forfeited (in shares)	0
Balance at the end of the period (in shares)	376,000	386,000
Exercisable at the end of the period (in shares)	347,000
Weighted Average Exercise Price
Balance at the beginning of the period (in dollars per share)	$ 11.64
Granted (in dollars per share)	$ 0.00
Exercised (in dollars per share)	$ 8.33
Forfeited (in dollars per share)	$ 0.00
Balance at the end of the period (in dollars per share)	$ 11.72	$ 11.64
Exercisable at the end of the period (in dollars per share)	$ 11.10
Aggregate Intrinsic Value
Outstanding at the end of the period (in dollars)	$ 2,336,000	$ 6,665,000
Exercisable at the end of the period (in dollars)	2,297,000
Weighted Average Remaining Contractual Life
Outstanding at the end of the period	3 years 9 months	4 years 9 months
Exercisable at the end of the period	3 years 8 months
Additional disclosures
Aggregate intrinsic value of stock options exercised	100,000	1,100,000	2,400,000
Unrecognized compensation cost on non-vested stock options	100,000
Weighted-average period of recognition	0 years 6 months 0 days
Stock options \| Board of Directors \| Minimum
STOCK-BASED COMPENSATION
Vesting period	0 years
Contractual term	5 years
Stock options \| Board of Directors \| Maximum
STOCK-BASED COMPENSATION
Vesting period	0 years
Contractual term	10 years
Stock options \| Employees \| Minimum
STOCK-BASED COMPENSATION
Vesting period	4 years
Contractual term	5 years
Stock options \| Employees \| Maximum
STOCK-BASED COMPENSATION
Vesting period	6 years
Contractual term	10 years
The Plan
STOCK-BASED COMPENSATION
Number of shares authorized				1,500,000
Number of shares available for future awards	299,000
Compensation cost	2,100,000	1,600,000	1,400,000
Income tax benefit (net)	$ 700,000	$ 500,000	$ 400,000

STOCK-BASED COMPENSATION (Details 2) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Jan. 31, 2014
Stock options outstanding and exercisable by exercise price range
Options Outstanding at the end of the period (in shares)	376
Options Outstanding - Weighted Average Remaining Contractual Life	3 years 9 months
Options Outstanding - Weighted Average Exercise Price (in dollars per share)	$ 11.72
Options Exercisable at the end of the period (in shares)	347
Options Exercisable - Weighted Average Remaining Contractual Life	3 years 8 months
Options Exercisable - Weighted Average Exercise Price (in dollars per share)	$ 11.10
Range of Exercise Prices $ 4.00-4.50
Stock options outstanding and exercisable by exercise price range
Exercise price, low end of range (in dollars per share)	$ 4.00
Exercise price, high end of range (in dollars per share)	$ 4.50
Options Outstanding at the end of the period (in shares)	58
Options Outstanding - Weighted Average Remaining Contractual Life	2 years 4 months
Options Outstanding - Weighted Average Exercise Price (in dollars per share)	$ 4.46
Options Exercisable at the end of the period (in shares)	58
Options Exercisable - Weighted Average Remaining Contractual Life	2 years 4 months
Options Exercisable - Weighted Average Exercise Price (in dollars per share)	$ 4.46
Range of Exercise Prices $ 7.50-10.20
Stock options outstanding and exercisable by exercise price range
Exercise price, low end of range (in dollars per share)	$ 7.50
Exercise price, high end of range (in dollars per share)	$ 10.20
Options Outstanding at the end of the period (in shares)	195
Options Outstanding - Weighted Average Remaining Contractual Life	3 years 9 months
Options Outstanding - Weighted Average Exercise Price (in dollars per share)	$ 8.35
Options Exercisable at the end of the period (in shares)	193
Options Exercisable - Weighted Average Remaining Contractual Life	3 years 9 months
Options Exercisable - Weighted Average Exercise Price (in dollars per share)	$ 8.33
Range of Exercise Prices $ 11.15-14.69
Stock options outstanding and exercisable by exercise price range
Exercise price, low end of range (in dollars per share)	$ 11.15
Exercise price, high end of range (in dollars per share)	$ 14.69
Options Outstanding at the end of the period (in shares)	24
Options Outstanding - Weighted Average Remaining Contractual Life	4 years 9 months
Options Outstanding - Weighted Average Exercise Price (in dollars per share)	$ 12.01
Options Exercisable at the end of the period (in shares)	18
Options Exercisable - Weighted Average Remaining Contractual Life	4 years 9 months
Options Exercisable - Weighted Average Exercise Price (in dollars per share)	$ 12.07
Range of Exercise Prices $ 21.21-26.84
Stock options outstanding and exercisable by exercise price range
Exercise price, low end of range (in dollars per share)	$ 21.21
Exercise price, high end of range (in dollars per share)	$ 26.84
Options Outstanding at the end of the period (in shares)	99
Options Outstanding - Weighted Average Remaining Contractual Life	4 years 6 months
Options Outstanding - Weighted Average Exercise Price (in dollars per share)	$ 22.47
Options Exercisable at the end of the period (in shares)	78
Options Exercisable - Weighted Average Remaining Contractual Life	4 years 6 months
Options Exercisable - Weighted Average Exercise Price (in dollars per share)	$ 22.53

STOCK-BASED COMPENSATION (Details 3) (Restricted Stock, USD $) In Millions, except Share data in Thousands, unless otherwise specified	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012
Shares
Balance at the beginning of the period (in shares)	255
Granted (in shares)	140
Forfeited (in shares)	(7)
Vested (in shares)	(67)
Balance at the end of the period (in shares)	321	255
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share)	$ 22.09
Granted (in dollars per share)	$ 20.92	$ 26.83	$ 24.45
Forfeited (in dollars per share)	$ 24.02
Vested (in dollars per share)	$ 19.60
Balance at the end of the period (in dollars per share)	$ 22.05	$ 22.09
Weighted Average Remaining Contractual Term
Nonvested	3 years 4 months	3 years 0 months
Additional disclosure
Fair value of restricted stock vested	$ 1.5	$ 1.3	$ 1.0
Unrecognized compensation cost on non-vested restricted stock	$ 4.7
Employees \| Minimum
Restricted stock
Vesting period	3 years
Employees \| Maximum
Restricted stock
Vesting period	6 years
Board of Directors \| Maximum
Restricted stock
Vesting period	1 year

EMPLOYEE BENEFIT PLANS (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Jan. 31, 2014 Y	Jan. 31, 2013	Jan. 31, 2012
401(k) profit sharing plan
Minimum age of employees considered as an eligibility criteria for the employee benefit plan	19
Employer matching contribution as a percentage of employee's contribution	50.00%
Contributions to the plan	$ 4.0	$ 3.6	$ 3.0

BUSINESS COMBINATIONS (Details) (USD $)													0 Months Ended				1 Months Ended	0 Months Ended				12 Months Ended	0 Months Ended					0 Months Ended			0 Months Ended							12 Months Ended				12 Months Ended				12 Months Ended				12 Months Ended
BUSINESS COMBINATIONS (Details) (USD $)	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012	Jan. 31, 2014 Agriculture	Jan. 31, 2013 Agriculture	Jan. 31, 2012 Agriculture	Jan. 31, 2014 Construction	Jan. 31, 2013 Construction	Jan. 31, 2012 Construction	Jan. 31, 2014 International	Jan. 31, 2013 International	Jan. 31, 2012 International	Feb. 16, 2013 Tucson Tractor Company store	Mar. 01, 2013 Colorado division of Adobe Truck & Equipment, LLC store	Feb. 27, 2012 Colorado division of Adobe Truck & Equipment, LLC store	Mar. 05, 2012 Rimex 1-Holding EAD Titan Machinery Bulgaria AD store	Mar. 31, 2012 Rimex 1-Holding EAD Titan Machinery Bulgaria AD	Mar. 30, 2012 Haberer's Implement, Inc. store	Apr. 02, 2012 East Helena Rental, LLC. store	Jul. 02, 2012 Curly Olney's, Inc. store	Nov. 02, 2012 Toner's, Inc. store	Jan. 31, 2014 Toner's, Inc.	Nov. 02, 2012 Falcon Power Inc. store	Dec. 12, 2012 VAIT D.o.o. store	Feb. 28, 2011 Tri-State Implement, Inc. store	Mar. 31, 2013 Schoffman's Inc.	Mar. 31, 2011 Schoffman's Inc. store	Apr. 02, 2011 ABC Rental & Equipment Sales store	May 12, 2011 Carlson Tractor & Equipment, Inc.	May 13, 2011 Carlson Tractor & Equipment, Inc. store	May 31, 2011 St. Joseph Equipment Inc. store county	Sep. 02, 2011 Virgl Implement Inc. store	Sep. 02, 2011 Victors Inc. store	Nov. 02, 2011 Van Der Werff Implement, Inc. store	Dec. 02, 2011 Jewell Implement Company, Inc. store	Dec. 23, 2011 AgroExpert Capital S.R.L. Titan Machinery Inc.	Dec. 23, 2011 AgroExpert Capital S.R.L. Titan Machinery Romania, S.R.L. member store	Jan. 31, 2012 Fiscal 2012 Acquisitions	Jan. 31, 2012 Fiscal 2012 Acquisitions Agriculture	Jan. 31, 2012 Fiscal 2012 Acquisitions Construction	Jan. 31, 2012 Fiscal 2012 Acquisitions International	Jan. 31, 2013 Fiscal 2013 Acquisitions	Jan. 31, 2013 Fiscal 2013 Acquisitions Agriculture	Jan. 31, 2013 Fiscal 2013 Acquisitions Construction	Jan. 31, 2013 Fiscal 2013 Acquisitions International	Jan. 31, 2014 Fiscal 2014 Acquisitions	Jan. 31, 2014 Fiscal 2014 Acquisitions Agriculture	Jan. 31, 2014 Fiscal 2014 Acquisitions Construction	Jan. 31, 2014 Fiscal 2014 Acquisitions International	Jan. 31, 2014 Distribution rights Toner's, Inc.	Jan. 31, 2014 Customer relationships Toner's, Inc.
BUSINESS COMBINATIONS
Total consideration transferred													$ 4,100,000	$ 1,200,000																								$ 57,806,000				$ 35,320,000				$ 5,298,000
Number of stores acquired													1	1	3	7		1	1	2	3		2	1	1		1	4		2	4	1	1	1	1		2
Value of ownership interests issued to the former owner of the acquired entity																	2,500,000																				800,000
Decrease in valuation of intangible assets																																																		100,000	200,000
Increase in the value of goodwill																						300,000
Noncontrolling interest (as a percent)																30.00%																					30.00%
Percentage of stock acquired in business combination																											100.00%
Number of counties in western Wisconsin with exclusive rights																															11
Number of management members																																					2
Decrease to stockholders' equity from transfer of ownership interest to management members																																				(200,000)
Purchase price allocation
Cash																																						99,000				3,000				2,000
Receivables																																						5,362,000				2,804,000				270,000
Inventories																																						49,818,000				29,120,000				2,658,000
Prepaid expenses and other																																						694,000				352,000				0
Deferred income taxes																																						13,000				0				0
Property and equipment																																						11,238,000				4,831,000				2,119,000
Intangible assets																																						6,653,000				4,029,000				182,000
Goodwill																																						6,033,000				6,479,000				71,000
Total assets acquired																																						79,910,000				47,618,000				5,302,000
Accounts payable																																						1,120,000				3,119,000				0
Floorplan notes payable																																						17,389,000				7,572,000				0
Customer deposits																																						1,143,000				1,586,000				4,000
Accrued expenses																																						37,000				21,000				0
Income taxes payable																																						390,000				0				0
Long-term debt																																						585,000				0				0
Deferred income taxes																																						1,440,000				0				0
Total liabilities acquired																																						22,104,000				12,298,000				4,000
Cash consideration															3,400,000	2,600,000		1,200,000	600,000	5,500,000	13,900,000		1,400,000	2,300,000	1,000,000	5,800,000		5,400,000	2,900,000		17,000,000	5,700,000	7,500,000	4,300,000	1,500,000		2,800,000	48,547,000				31,880,000				4,850,000
Non-cash consideration: liabilities incurred																																						9,259,000				3,440,000				448,000
Total consideration													4,100,000	1,200,000																								57,806,000				35,320,000				5,298,000
Goodwill related to operating segment	24,751,000	30,903,000	24,404,000	24,642,000	24,642,000	19,765,000	0	5,267,000	3,767,000	109,000	994,000	872,000																											3,434,000	1,706,000	893,000		4,877,000	1,500,000	102,000		0	71,000	0
Goodwill expected to be deductible for tax purposes																																						$ 4,730,000				$ 6,107,000				$ 71,000

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $) In Thousands, unless otherwise specified	Jan. 31, 2014	Jan. 31, 2013
FAIR VALUE OF FINANCIAL INSTRUMENTS
Senior convertible notes	$ 128,893	$ 125,666
Face value of senior convertible notes	150,000	150,000
Fair value
FAIR VALUE OF FINANCIAL INSTRUMENTS
Senior convertible notes	128,522	152,760
Carrying value
FAIR VALUE OF FINANCIAL INSTRUMENTS
Senior convertible notes	$ 128,893	$ 125,666

FAIR VALUE OF FINANCIAL INSTRUMENTS ASSETS AND LIABILITIES MEASURED ON A RECURRING BASIS (Details) (USD $) In Thousands, unless otherwise specified	Jan. 31, 2014	Jan. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 436	$ 0
Financial Liabilities	(1,438)	(86)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	0	0
Financial Liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	436	0
Financial Liabilities	(1,438)	(86)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	0	0
Financial Liabilities	0	0
Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	(1,227)	0
Interest rate swap \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	0	0
Interest rate swap \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	(1,227)	0
Interest rate swap \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	0	0
Foreign Exchange Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	436	0
Financial Liabilities	(211)	(86)
Foreign Exchange Contract \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	0	0
Financial Liabilities	0	0
Foreign Exchange Contract \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	436	0
Financial Liabilities	(211)	(86)
Foreign Exchange Contract \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	0	0
Financial Liabilities	$ 0	$ 0

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

+ References+ Details

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

+ References+ Details

SEGMENT INFORMATION AND OPERATING RESULTS (Details) (USD $)	3 Months Ended								12 Months Ended
	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2013	Jan. 31, 2013	Oct. 31, 2012	Jul. 31, 2012	Apr. 30, 2012	Jan. 31, 2014 segment	Jan. 31, 2013	Jan. 31, 2012
Revenue and long-lived assets
Number of reportable segments									3
Revenue	$ 708,631,000	$ 587,961,000	$ 488,180,000	$ 441,674,000	$ 784,514,000	$ 582,112,000	$ 410,071,000	$ 421,723,000	$ 2,226,446,000	$ 2,198,420,000	$ 1,658,992,000
Outside of the United States
Revenue and long-lived assets
Revenue									145,900,000	72,500,000	5,900,000
European subsidiaries
Revenue and long-lived assets
Long-lived assets	$ 7,300,000				$ 5,400,000				$ 7,300,000	$ 5,400,000

SEGMENT INFORMATION AND OPERATING RESULTS (Details 2) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2013	Jan. 31, 2013	Oct. 31, 2012	Jul. 31, 2012	Apr. 30, 2012	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	$ 708,631	$ 587,961	$ 488,180	$ 441,674	$ 784,514	$ 582,112	$ 410,071	$ 421,723	$ 2,226,446	$ 2,198,420	$ 1,658,992
Income (Loss) Before Income Taxes									18,429	70,696	73,574
Impairment	9,997								9,997	0	0
Interest Income									1,032	704	416
Interest Expense									30,555	22,762	9,670
Depreciation and Amortization									30,794	23,464	15,263
Capital Expenditures									19,010	39,832	21,422
Total Assets	1,564,648				1,444,074				1,564,648	1,444,074	1,088,072
Agriculture
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue									1,765,821	1,827,023	1,435,387
Income (Loss) Before Income Taxes									59,574	83,256	73,953
Impairment									0	0	0
Interest Income									270	181	117
Interest Expense									16,052	13,324	10,601
Depreciation and Amortization									8,196	7,056	5,497
Capital Expenditures									4,634	7,470	6,145
Total Assets	943,212				781,382				943,212	781,382	766,075
Construction
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue									405,822	380,295	279,152
Income (Loss) Before Income Taxes									(28,083)	(4,708)	5,461
Impairment									8,243	0	0
Interest Income									638	510	299
Interest Expense									10,751	8,634	3,267
Depreciation and Amortization									18,064	13,546	7,568
Capital Expenditures									2,752	16,175	9,447
Total Assets	308,525				346,554				308,525	346,554	250,474
Shared Resources
SEGMENT INFORMATION AND OPERATING RESULTS
Income (Loss) Before Income Taxes									(6,650)	(6,902)	(5,993)
Impairment									0	0	0
Interest Income									22	13	0
Interest Expense									(810)	(153)	(4,203)
Depreciation and Amortization									3,424	2,522	2,198
Capital Expenditures									7,609	15,117	5,830
Total Assets	120,335				199,849				120,335	199,849	57,882
Eliminations
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue									(91,081)	(81,408)	(61,454)
Income (Loss) Before Income Taxes									(868)	(1,491)	(305)
Total Assets	(2,958)				(2,843)				(2,958)	(2,843)	(1,382)
International
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue									145,884	72,510	5,907
Income (Loss) Before Income Taxes									(5,544)	541	458
Impairment									1,754	0	0
Interest Income									102	0	0
Interest Expense									4,562	957	5
Depreciation and Amortization									1,110	340	0
Capital Expenditures									4,015	1,070	0
Total Assets	195,534				119,132				195,534	119,132	15,023
Operating Segments
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue									2,317,527	2,279,828	1,720,446
Income (Loss) Before Income Taxes									25,947	79,089	79,872
Impairment									9,997	0	0
Interest Income									1,010	691	416
Interest Expense									31,365	22,915	13,873
Depreciation and Amortization									27,370	20,942	13,065
Capital Expenditures									11,401	24,715	15,592
Total Assets	$ 1,447,271				$ 1,247,068				$ 1,447,271	$ 1,247,068	$ 1,031,572

SELECTED QUARTERLY FINANCIAL DATA (Unaudited) (Details) (USD $)	3 Months Ended								12 Months Ended
	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2013	Jan. 31, 2013	Oct. 31, 2012	Jul. 31, 2012	Apr. 30, 2012	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 708,631,000	$ 587,961,000	$ 488,180,000	$ 441,674,000	$ 784,514,000	$ 582,112,000	$ 410,071,000	$ 421,723,000	$ 2,226,446,000	$ 2,198,420,000	$ 1,658,992,000
Gross Profit	96,978,000	93,606,000	83,542,000	73,948,000	104,529,000	94,059,000	70,364,000	70,409,000	348,074,000	339,361,000	275,461,000
Net Income Attributable to Titan Machinery Inc.	(393,000)	5,825,000	3,833,000	(414,000)	15,606,000	14,061,000	5,209,000	7,597,000	8,851,000	42,473,000	44,160,000
Earnings per Share-Basic (in dollars per share)	$ (0.02)	$ 0.27	$ 0.18	$ (0.02)	$ 0.74	$ 0.67	$ 0.25	$ 0.36	$ 0.42	$ 2.02	$ 2.21
Earnings per Share-Diluted (in dollars per share)	$ (0.02)	$ 0.27	$ 0.18	$ (0.02)	$ 0.73	$ 0.66	$ 0.25	$ 0.36	$ 0.41	$ 2.00	$ 2.18
Impairment	9,997,000								9,997,000	0	0
Valuation allowance on deferred tax asset, including net operating losses	$ 1,900,000								$ 1,900,000

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

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Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 9: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e565-108580

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 19

-Article 5

+ Details

SUBSEQUENT EVENTS (Details) (Subsequent Event [Member], Construction, USD $) In Millions, unless otherwise specified	0 Months Ended
	Apr. 10, 2014 store
Subsequent Event [Member] \| Construction
Subsequent Event [Line Items]
Restructuring and Related Cost, Expected Number of Positions Eliminated, Percent	11.70%
Restructuring and Related Cost, Expected Number of Facilities Closed	7
Restructuring and Related Cost, Expected Cost	$ 4.2

Schedule II-Valuation and Qualifying Accounts and Reserves (Details) (Valuation reserve deduction from receivables, USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012	Jan. 31, 2010
Valuation reserve deduction from receivables
Changes in valuation and qualifying accounts and reserves
Beginning Balance	$ 2,337	$ 720		$ 429
Additions Charged to Expenses	4,804	3,218	1,245
Deductions for Write-offs, Net of Recoveries	(3,478)	(1,601)	(954)
Ending Balance	$ 3,663	$ 2,337	$ 720	$ 429