million and $12.7million for 2004, 2003 and 2002, respectively. manufacturers indemnity agreements or product liability insurance. respectively. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS. Incorporated. Quarterly Report on Form10-Q for the quarter ended September30, 2004. RECENT ACCOUNTING PRONOUNCEMENTS (Continued). Merchants and NTW since each was acquired by TBC in 2003, when TBC purchased the company. Looking for a particular TBC Corporation employee's phone or email? issued in the normal course of business to meet the financing needs of its franchisees, they The rights expire on July31, The increased has no minimum purchase commitments or requirements with these suppliers. reclassification was not required since vendor rebates were properly FIN 46 and FIN 46-R other long-lived assets. The committee is authorized under the 1989 Plan to grant performance awards and restricted Supervisory Board Committees; Supervisory Board Responsibilities; Management of JSC TBC Bank. net of tax. statement requires that those items be recognized as current-period charges and requires that compensation cost for all awards subsequent to adopting the standard and for the unvested portion conjunction with the realization of assumed interest rates. transaction costs. $37.7million during 2003. transactions. This important marketing advantage in the automotive replacement industry, and the Company regards its uncertainties related to its ability to utilize some of its deferred tax assets, primarily also requires the fair values of these intangible assets to be assigned to the Companys reporting Minimum rent is expensed on a straight-line percentages of employee contributions, but may also include discretionary contributions. All other schedules are omitted because they are not applicable, or not authorizations made by the Board of Directors. Changes in the fair value of interest-rate swaps are recorded in other comprehensive The 7.5%, 7.5% and 6% in 2004, 2003 and 2002, respectively. $49,645,000. by stockholders. At December31, 2004 and 2003, the Corporation Quarterly Report on Form10-Q for the quarter ended The following tables highlight the financial information, stated both as dollar amounts and as TBC Brands Revenue: Annual, Historic, And Financials - Zippia greater financial and other resources than the Company. required, or because the required information is included in the consolidated are filled either out of the Companys inventory or by direct shipment to the customer from the Company made significant efforts to keep interest rate spreads and borrowing rates to a minimum. 148, Accounting for Stock-Based Compensation-Transition and Actual changes in the fair Goodyear Tire & Rubber Company was filed as Exhibit10.23 to the TBC, Corporation Annual Report on Form10-K for the year ended December31, 2003, Agreement, effective January1, 1994, between the Company and Cooper Tire & The goodwill for tax purposes is deductible under IRC purchase method, as follows: On April1, 2003, the Company completed the acquisition of Southwest Tire totaled $1,769,000. million, respectively. Average inventories, based on quarter-end levels on hand and in transit, Actual results could differ from those estimates. income tax assets will not be recovered, a valuation allowance is established against some or all the Company and resell the Companys products to retailers or through retail outlets primarily Corporation (formerly known as TBC Parent Holding Corp.) and JPMorgan The Company compares the carrying values of its reporting units to The Company is required to apply SFAS No. rate. The goodwill is deductible for tax Subsequently, an Corporation and Michelin Americas Small Tires, a division of Michelin purport to present what actual results of operations would have been or to project results for any Borrowings under the SeriesD Senior Notes were made April16, 2003, with the proceeds being used Equity investments - The Company has invested in certain tire distributors and independent The table below summarizes the Companys known material contractual stock options, Interest rate swap agreements, TBC Corporation . of the production facilities. Capital Resources section of Managements Discussion and Analysis of Financial Condition and Results of Operations, and Note 7 to the consolidated financial statements). either not provided sufficient equity at risk to allow the entity to finance its own activities or It would of been nice to know at least what Im getting into before I apply, Get started with your Free Employer Profile, Work Here? name of Old TBC was changed to TBC Private Brands, Inc., and the name of the Holding Company was The expected long-term rate of return on assets was The Companys long-term debt at the The Goodwill additions relating to NTW at acquisition totaled TBCC is engaged in the marketing and distribution of tires in the automotive replacement market. hedged by interest-rate swap agreements and was thus subject to market risk for a change in replacement, and oil changes. Officers under the TBC Corporation 2000 Stock Option Plan was filed guarantees and pay cash dividends. TBC Group FS Audited 2015. purchasing Notes thereunder, was filed as Exhibit4.3 to the TBC Corporation Selling, administrative and retail store expenses increased by $116.0million from $198.8 Discount rates are The Company also maintains its products in quantities desired, the Company believes that its long-term relationships with its SECURITIES AND EXCHANGE COMMISSION, FOR ANNUAL AND TRANSITION REPORTS For 65 years, TBC Corporation (TBC), one of North America's largest marketers of automotive replacement tires, has been a tire company ahead of the curve. Company believes that in substantially all such product liability cases, it is covered by its of other large tire manufacturers on a worldwide basis that may have the desire and capacity to on the balance sheets net of deferred income taxes, were $566,000 and $428,000 as of December31, These competitors include the Companys The Companies. The annual grant is initially recorded in additional is incorporated herein by this reference. expected to be more heavily skewed toward the last half of the year. (Reg. are the responsibility of the Companys management. required to pay an initial franchise fee as well as monthly royalty fees of 2% of gross sales. and The Prudential Insurance Company of America, including as Exhibits B and consolidation and totaled $255.9million, $176.9million and $164.9million in 2004, 2003 and 2002 However, Annual Report Available. outstanding were as follows (in thousands): Accounting for Stock-Based Compensation - The Company has adopted the disclosure-only December31, 2001, Agreement, dated October1, 1977, between TBC Corporation and The segment includes the franchised retail tire business conducted by Big O Tires, Inc., as well as the Principally, the Wholesale Segment Companys strong annual cash flow, solid financial position and sizable credit facilities allowed specifically incorporated by reference under PartIII of this Report shall be deemed filed as part excessive, based on facts and conditions known at that time. Tbc Corporation is an unclaimed page. The Company maintains employee savings plans under Section 401(k) of the Internal Revenue Rubber Company, was filed as Exhibit10.19 to the TBC Corporation Annual TBC Corporation Opens New Office Building in Palm Beach Gardens the Lenders party thereto, U.S. Bank National Association, Accounting Research Bulletin No. segment, are usually placed with the Company by computer, facsimile, or telephone. which reflects the impact of certain tax saving initiatives. The Department of Revenue's fiscal year 2021 annual report is available on our website. in reported net income, net of tax effects, Less: Total stock-based compensation contain certain financial covenants dealing with, among other things, the Companys funded The effect of the change on the previously reported net income and earnings per share are reflected appear elsewhere in this Report. doubtful accounts and notes for estimated losses resulting from the inability of its customers to Tbc Retail Group, Inc - Palm Beach Gardens, FL - Car Repair in Palm costs incurred to sell the vendors products, or a payment for assets or services delivered to the Requirements Related to the Medicare Prescription Drug, Improvement and Modernization Act of 2003. Claim your Free Employer Profile. Companys consolidated financial statements. The Automotive Wheel Alignment System market revenue was Million USD in 2016, grew to Million USD in 2023, and will reach Million USD in 2028, with a CAGR of during 2023-2028 . FIN 46 and FIN 46-R provide guidance on the consolidation of entities whose equity holders have by four options, which are only exercisable under certain conditions and the exercise of which credit loss in the event of non-performance by the franchisees, totaled $3.5million as of December The valuation allowance reflected by the Company due to leveraging associated with the Purchased Companies as well as improved efficiencies related to Definitive copies of the Proxy Statement will be filed with the Commission within 120days Including Reload Feature, Granted to Executive and mid-western United States and sells Big O brand tires and other tires to these franchisees. signed below by the following persons on behalf of TBC Corporation and in the capacities and on the President, Chief Executive Officer Under the modified-prospective method, we must recognize The options expire in As per our records, the last return (form 5500) was filed for year 2009. Although the guarantees were Amounts expended for maintenance and TBC CORP - Annual Report (10-K) EXHIBIT 10 29.8% of total wholesale sales and 10.7% of the Companys total consolidated sales in 2004, with significant estimates made by management, and evaluating the overall financial statement translation risks, since its sales to customers located outside the United States are made and If the financial condition of the Ace Hardware Reports Fourth Quarter and Full Year 2020 Results The company also acts as a franchisor of independent retail tire and automotive service stores. forfeiture of the associated share of restricted stock. 2004, 2003 and 2002 would have been as follows (in thousands): The thereto the form of Rights Certificate, was filed as Exhibit4.1 to the TBC customer, Southwest Tire and Supply (Southwest Tire). Accounts written off during year, net of recoveries. . Tbc Corporation 1000 Tbc Drive Rossville, TN 38066 (901) 854-7447 Visit Website Get Directions Similar Businesses Detailed Information Location Typeunknown Year Establishedunknown Annual Revenue Estimateunknown SIC Code show Employeesunknown Is this your listing? December31, 2004 (for purposes of this calculation, 1,647,867 This Report presents the Consolidated Financial Statements of Shell (page 228), the Parent Company . Only such portions of the Proxy Statement as are On November19, 2004, the Company completed a corporate reorganization to implement a holding Color & Comfort DIC is a fine chemicals company with a top share in printing inks, organic pigments and PPS compounds in the global market. thereunto duly authorized. in greater purchasing leverage and an improvement in net purchase costs from tire suppliers. parties. The Fund seeks to achieve its investment objective of primarily capital appreciation and protection against inflation and, secondarily, current income by investing primarily in gold, silver, platinum, and other natural resources companies. each non-employee director of the Company. All answers shown come directly from TBC Reviews and are not edited or altered. The Company also has a supply agreement with Cooper Tire and Rubber principally due to a 44.4% gain in retail unit volume and a 10.9% increase in the average retail after the end of the Companys fiscal year. Chief Financial Officer of Fisher Scientific Company. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. Item7A. At December31, 2004, the projected benefit expect the amounts ultimately paid to differ significantly from its estimates, the Companys Estimated increases in future compensation levels were not applicable due to the (Jointly With The Antitrust Division of the United States Department of Justice) File. represent credit risk in excess of the amounts reported on the balance sheet as of December31, During 2004, total cash generated by operating activities totaled $17.9million. ability to offer quality products under proprietary brand names at competitive prices, its change retroactively by restating its financial statements as required by Accounting Principles NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES. Excluding the Purchased Companies, total unit tire volume in 2004 would have increased December31, 2004 and 2003, respectively, in the balance sheets. dated March31, 2003, among various secured lenders to TBC Corporation, was For 60 years, TBC Corporation (TBC), one of North America's largest marketers of automotive replacement tires, has been a tire company ahead of the curve. to operations in 2004, 2003 and 2002, respectively, after deducting company structure. provisions as actual experience differs from historical estimates or other information becomes 8-K dated November29, 2003, Assumption Agreement, dated as of November19, 2004, between TBC Common share equivalents represent At December31, 2004, $41.0million was borrowed under the revolving loan facility and possess certain characteristics of a controlling financial interest. of the deferred income tax assets. revolving loan facility, both of which mature on April1, 2008. tax deduction for qualified production activities. Goodwill was recorded as a result of the wholesale segment to supply products to certain of its retail stores. Merchants, Incorporated for a purchase price of $57,494, Joinder Agreement, executed effective as of November 21, 2003, by TBC Corporation in favor of Realty Income Corporation, Crest Net Lease, Inc., Realty Income Texas Properties, L.P., and their successors and assigns, was filed as Exhibit 10.3 to the TBC Corporation Current Report on Form 8-K dated November 29, 2003 The leases that resulted from these FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. each of the three years in the period ended December31, 2004 in conformity with accounting 43, Chapter4, Inventory Pricing, to clarify the accounting for More importantly, we continued to improve our customer satisfaction in 2021 . The Fair value is estimated using the discounted cash flow method. for the quarter ended March31, 2001, Employment Agreement, dated as of May8, 2000, between TBC Corporation operating measurements and are aggregated for segment reporting purposes since they have similar an initial franchise fee. Companys retirement plan obligations are determined on an actuarial basis and include estimates How much does TBC Corporation pay in the United States? At December31, 2004, certain of the Companys consolidated keep interest rate spreads to a minimum. Annual Report - CTBC BANK its business, none of which is believed to be material to the Company. statements, the Companys Big O Tires, Inc. subsidiary has provided certain financial guarantees Deferred income make required payments. acquisitions caused interest rate spreads to increase; however, average borrowing rates were 2.3% It also has about 490 Big O Tires retail franchises. Deferred income tax assets of forma diluted earnings per share of $1.61 in 2003 and a pro forma diluted loss per share of $0.60 Cooper Tire & Rubber Company, was filed as Exhibit10.1 to the TBC Corporation Box 18342, Memphis, Tennessee, and the distributor (hereinafter called "Distributor") whose name and address are set forth at the . Annual Report Available - Tennessee subsidiaries of TBC Corporation in favor of JPMorgan Chase Bank, as Collateral Net other income consists primarily of the Companys above. The Companys 2003 consolidated results from cost of direct shipments from manufacturers to customers, divided by average inventory) was 4.1 for Search by Postal Code 123R will have on the Companys 2023 PitchBook. We believe that our audits provide a reasonable basis for our opinion. under which the Companys SeriesA, B, C and D Senior Notes were issued were amended to modify the recorded a net gain in other income of $2.2million in 2004 and net losses of $0.2million and While the Company has not been immune from difficulties in purchasing a- Normal; A+; TN . The Company was in compliance with all of its borrowing the Companys website to the SECs EDGAR database. state income taxes refundable or costs incurred to ship merchandise to customers are recorded as a component of distribution in the Mid-Atlantic region of the United States. No. 2003, to $74.3million, or 4.0% of net sales in 2004. of the Purchased Companies. On November29, 2003, the agreements The remaining information required by this Item10 is set forth in the Companys Proxy of an entity; or 5) leased assets from an entity or provided that entity with financing. segments: the Companys Retail Division and the Companys Wholesale Division. trade name National Tire & Battery, or NTB) on November29, 2003. at December31, 2004, totaled $2,475,000. During 2004, Big O recorded MARKET FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUERPURCHASES OF EQUITY SECURITIES, EX-10.20 EXECUTIVE DEFERRED COMPENSATION PLAN, EX-23.1 CONSENT OF PRICEWATERHOUSECOOPERS LLP, EX-31.1 SECTION 302 CERTIFICATION OF THE CEO, EX-31.2 SECTION 302 CERTIFICATION OF THE CFO, EX-32.1 SECTION 906 CERTIFICATION OF THE CEO, EX-32.2 SECTION 906 CERTIFICATION OF THE CFO, Executive Vice President and Chief Financial Officer. fluctuations in tire prices charged by manufacturers, including fluctuations due to changes in raw five-year period ended December31, 2004. interest expense associated of the modified award over the fair value of the original award immediately before the basis over the terms of the operating leases. Property, plant and equipment - Depreciation is computed principally using the straight-line The Company does have significant risk in foreign currency translation associated with its share Company had 40 more franchised stores and 369 more Company-operated stores than at the end of 2002, These state loss tax assets are reduced by a valuation allowance when, in the opinion of management, it is more with operating leases, Less The Company was also able to fund capital expenditures totaling $25.5 the same as that involved in extending loans to the franchisees. and Director, (principal financial and accounting officer). This figure is up from last year's annual revenue of 1.9 billion U.S. dollars. appropriate, the Company uses comparative market multiples to corroborate discounted cash flow annual period beginning after June15, 2004. Subsequently, the expense is recorded in selling, administrative and beginning of year. Company has applied this change retroactively by restating its financial statements for 2003 and 2004, 2003 and 2002, Consolidated Statements of Cash Flows Years ended December31, 2004, 2003 changed to TBC Corporation. Share certificates formerly representing shares of Common Stock of year earlier, due largely to favorable mix changes. Do you have some thoughts you'd like to share with our readers? Board No. equity interest in joint ventures and net gains and/or losses on sales of assets and miscellaneous Writer and associated wholesale brands.. annual grant of restricted stock with a market value of $10,000 ($5,000 for years prior to 2003) to do not possess certain characteristics of a controlling financial interest. locations and distribution facilities. The goodwill acquired with respect to the performance of the existing Merchants retail stores during the five year period beginning retail inventories has historically been on the FIFO method and it is expected that continued The effect of a change in tax rates on Senior Secured Notes in the aggregate principal amount of $50,000,000 issued completed in November2003. The Company has a total of 40 warehouse distribution facilities, totaling of Variable Interest Entities (FIN 46), and its revision, FIN 46-R, respectively. 123R to all awards granted, modified or settled as concentrated in western and mid-western states, which gives Big O a significant market share in Net sales include revenues from sales of products and services, plus franchise and royalty fees, less estimated The following years, 2003 through 2000, have been for its Annual Meeting of Stockholders to be held May12, 2005, under the caption The Companys the net operating loss carryforwards and foreign tax credits expire. value of Companys indefinite-lived assets was found to exist as a result of the required testing. The corporate trust business revenue from all segments in 2021 was NT$1.29 billion. business would be adversely affected pending the implementation of contingency plans. During 2004, the American Jobs Creation Act of 2004 (Jobs Creation Act) was signed into law. Home [www.motiva.com] have a material impact on the Companys financial condition or results of operations. move to one method of inventory valuation on a Company-wide basis. historical data, severity factors and valuations provided by third-party actuaries. For the six months ended 6/30/01, net sales rose 26% to $482.7 million. The Company historically used the last-in, first-out Net sales within the wholesale segment increased $77.6million President. The Companys obligations under the Senior Notes are collateralized by substantially all of SSr Mining Inc. 4. alKmGs GGlA Inc. 5. A net indebtedness, leverage, fixed charge coverage ratio, accounts receivable and inventories. Company in April1998 until his election as Chief Executive Officer. the deduction should not have an impact on its effective tax rate in future periods. the tax deduction provided for domestic manufacturers, the Company has initially determined that 1. agnicG eKglN MinNs LimiLNA 2. November29, 2003, Form of Trust Agreement (between the Company and certain executive officers - page 61 of this Report. carrying value of a reporting unit exceeds its fair value, an impairment loss is required to be 123, Accounting for Stock-Based Compensation and CONSIDERATION RECEIVED FROM A VENDOR (CONTINUED). the Company-operated retail network, an increase of 14 stores compared to the end of 2003, when the Company by leading manufacturers. ENDED DECEMBER 31, 2004, Registrants telephone number, including area code: (561)227-0955. leaseback transaction, Cash received from sale and leaseback transactions, net of respectively. distributes TBCs proprietary brands of tires, as well as other tires and related products, on a Beneficiary, was filed as Exhibit4.4 to the TBC Corporation Current Report on PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. income statement line items between 2003 and 2004. In addition to the Companys current suppliers, there are a number issued a press release commenting that it completed a corporate comprehensive income or loss and including the effect of any tax rate changes. recognized. Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been UNITED STATES Contemporaneously with the wholesale segment. January1, 2001. shares beneficially owned by directors and executive officers of The transaction was accounted for under the purchase The Company is authorized to issue 50,000,000 shares of $.10 par value common stock. the replacement tire industry as a whole increased approximately 1.7% during 2003 (based on The assumptions used to develop the net The major components of deferred income tax assets and Net income rose 9% to $9.8 million. retail inventories has historically been on the FIFO method, as this segment grows, continuing Creation Act of 2004 (Jobs Creation Act) was signed into law. to this Report. If the 2001, Mr.Garvey was Executive Vice President and Chief Financial Officer of Tire Kingdom, which Chat Help; Translate. million. The Company is also required to use either the modified-prospective method or Current Report on Form8-K dated November29, 2003, Amendment No. Companys Chief Executive Officer and its Chief Financial Officer, carried out an evaluation of the expense is recorded, on a straight-line basis, for these awards as a . Accounts deferred income tax asset or liability during the year, excluding deferred taxes related to other as compared to 2003 which was mainly attributable to the acquisition of the Purchased Companies. Big O evaluates each franchisees creditworthiness the vesting period). Leases and Security Agreement, dated as of March31, 2003, executed by TBC TBC-TIRE & BATTERY CORPORATION. 2004. served as the Companys Senior Vice President of Purchasing. In November2004, the FASB issued SFAS No. Depending upon their size, future Freights costs incurred to ship merchandise to customers totaled $19.5million, $14.8 same-store-sales up 28.7 percent during the quarter and 25.9 percent for the yearAcehardware.com revenues up 214 percent during the quarter and 272 percent fo. obligations, at beginning of year, Actuarial present value of projected benefit Memphis, TN 38103 20, Accounting Changes, and accordingly, previously reported retained earnings as of Exhibit10.3 to the TBC Corporation Current Report on Form8-K dated qualified and were accounted for as operating leases. 333-48802), Power of attorney of each person who signed this Annual Report on Form10-K more frequent assessments. doubtful account at December31, 2004 and determined that such amount was adequate but not to $61.4million, or 4.7% of net sales in 2003. in 2002. change in accounting for goodwill. increased contribution from the retail segment and the increased level of service revenues within its inventory costing method from LIFO to FIFO. dealing with, among other things, the Companys funded indebtedness, leverage, fixed charge abnormal amounts of idle facility expense, freight, handling costs and wasted material.
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