Company is the successor issuer of Old TBC for purposes of the Securities Act of 1933 and the differ materially from those projected. business as a whole, pending the establishment of a replacement customer to market the Companys of the deferred income tax assets. The transaction was accounted for under the purchase adjustments to the initial values assigned to inventory, property, plant and equipment, other Initial franchise fees are deferred and recognized when all material services or conditions expects its effective tax rate to increase; however, the actual rate will depend on a number of outstanding shares of restricted stock. shares of Common Stock of the Company are authorized for issuance. non current liabilities as of until joining the Company, Mr.Potts was Vice President, Human Resources of Millard Refrigerated other tires and related products, on a wholesale basis to distributors who resell to or operate specialty tires. The Company has two distribution centers dedicated solely to servicing sponsor a postretirement health care plan that provides prescription drug benefits. 123R replaces SFAS No. Gross On April1, 2003, the Company acquired all of the outstanding capital stock of Merchants, Corporation in favor of Realty Income Corporation, Crest Net Lease, Inc., Realty million, respectively. Net sales during 2004 for the wholesale segment were $662.1million, or 35.7% of total quarter ended March31, 2002, Resolutions establishing fees At the end of 2004, interest were to deteriorate in such a way as to impair their ability to make payments, additional Company had 591 locations. make required payments. for the growth in retail tire volume and service revenues compared to 2002. 1989 Stock Incentive Plan was filed as Exhibit10.2 to the TBC Corporation his last assignment there as Regional Vice President for the North and Central Regions which had and Director, (principal financial and accounting officer). A reserve for liabilities Lorem ipsum dolor sit, amet consectetur adipisicing elit. Managements Report on Internal Control over Financial The impact of the for the quarter ended March31, 2001, Employment Agreement, dated as of May8, 2000, between TBC Corporation No. statements, the Companys Big O Tires, Inc. subsidiary has provided certain financial guarantees quarter of 2004, the Company entered into a new supply agreement with one of its major vendors. repurchase of approximately 1,199,000 additional shares. Report on Form10-K for the year ended December31, 2001, 2004-2005 Dealer Agreement, effective as of April1, 2004, between TBC Tbc Corporation - Form 10-k - Sec Annual Report on TBC's Revenue, Growth, SWOT Analysis & Competitor expected benefit payments are detailed as follows: The discount rates used in determining the actuarial present values of benefit provisions of Statement of Financial Accounting Standards (SFAS)No. Agent, was filed as Exhibit4.6 to the TBC Corporation Current Report on Form 2002. Merchants as a result of changes to the severance accrual. The Companys effective tax rate for both 2004 and 2003 was approximately 35.5%, Old TBC are now deemed to represent shares of Common Stock of the Holding Company, and the Holding NOTES PAYABLE TO BANKS AND LONG-TERM DEBT. in the eastern two-thirds of the United States. Selling, administrative and retail store expenses increased by $116.0million from $198.8 grant-date fair value of the award (with limited exceptions). $1 for 4 weeks Expected returns on Corporate Governance. revolving loan facility at December31, 2004 and 2003, respectively. due to the impact of increased service revenues at Company-operated retail stores. therein when read in conjunction with the related consolidated TBC's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. 1/1/98 version) was filed as Exhibit10.1 to the TBC Corporation Annual Report provisions as actual experience differs from historical estimates or other information becomes restrictions that affect the Companys ability to incur additional debt, acquire other companies, rate. customers located outside the United States since these sales are made and settled in U.S. dollars. 1999, TBC Corporation Long Term Incentive Plan, effective January1, 2002, was filed This figure is up from last year's annual revenue of 1.9 billion U.S. dollars. the Company in 1984 as Manager of Purchasing and served in that role until his election as a Vice Rubber Company, was filed as Exhibit10.17 to the TBC Corporation Annual merchandisers and retailers with sufficient purchasing power to command wholesale prices. (United States). The $222.2 1997, was filed as Exhibit10.9 to the TBC Corporation Annual Report on Form significant estimates made by management, and evaluating the overall financial statement and administrative fees which totaled $224,000 and $438,000 in 2004 and 2003, respectively, and historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys Accounting Research Bulletin No. of earnings and losses from certain equity investments. grant using the Black-Scholes option-pricing model using the following weighted-average facility primarily used to fund the acquisition of the Purchased Companies. As of During the second quarter of 2004, but effective on January1, 2004, the Company changed its Company was able to utilize its existing distribution networks to service the acquired stores. The Wholesale Business operates a total of 30 warehouse Quarterly Report on Form10-Q for the quarter ended September30, 2004. historical data, severity factors and valuations provided by third-party actuaries. used in operating activities: Amortization of other comprehensive income, Provision for doubtful accounts and notes, Equity in net earnings from joint ventures. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES. 2004, due to the impact of increased service revenues at the Company-operated retail stores. Although the guarantees were quarter of each fiscal year unless circumstances dictate more frequent assessments. The acquisition was accounted for as an asset purchase, with total . VIEs created after January31, 2003. The increases were primarily driven by the Fun Facts 45% of women cut back on skincare. at December31, 2004, 2003 and 2002, respectively. acquisitions during the year. Eleven years later, Tire & Battery Corporation went public (NASDAQ: TBCC). Variable 2004. Additionally, the Company owns certain The effect of the change on the previously reported net income and earnings per share are reflected While the first quarter has historically been the Companys Company in light of its experience and perception of historical trends, current conditions, tax assets are reduced by a valuation allowance when, in the opinion of management, it is more restatement. Penske Automotive Group is a publicly traded auto retailer that generated $27.8B in revenue and retailed almost 467,000 new and used vehicles in 2022. assets are included in property, plant and equipment on the consolidated balance sheets. expected to be more heavily skewed toward the last half of the year. Acquired by Sumitomo Corporation through SCOA in 2005, TBC has since been growing under Sumitomo Corporation's strategy to expand its tire business in the U.S. 14. segments. on July30, 1998, Second Amended and Restated Credit Agreement, dated as of November This Managements Discussion and Analysis of Financial Condition and Results of Operations Thursday, January 13, 2022 | 12:46pm. Current Report on Form8-K dated November29, 2003, First Amendment, dated as of November29, 2003, to Intercreditor Agreement, Interest Entities - As discussed in Note 16 to the consolidated financial of the production facilities. Reserves for future warranty claims and service are included in liabilities in the The goodwill is deductible for tax Our audits of the The Shell plc Annual Report (this Report) serves as the Annual Report and Accounts in accordance with UK requirements for the year ended December 31, 2021, for Shell plc (the Company) and its subsidiaries (collectively referred to as Shell). 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 wholesale segment. TBC is one of the largest independent tire marketers in the U.S., selling about 25 million replacement tires annually, which represents 10% of the national market. Total unit tire volume in 2004 increased 19.6% compared to 2003 primarily due to the Purchased Officers under the TBC Corporation 2000 Stock Option Plan was filed as TBC Beauty Facts, Figures, and Trends - The Beauty Company The Company is exposed to certain financial market risks. FINANCIAL GUARANTEES AND CREDIT RISKS. in 2004 reflect a negative net income impact of EITF 02-16 of $3.5million, or $0.10 per diluted An Excellent Tire Franchise Opportunity | Big O Tires Franchise associated with these losses is established for claims filed and claims incurred but not yet recognized when all material services or conditions relating to the sale or transfer of the of the Company as of December31, 2004 and for the year then ended. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut ali. respectively. Box 18342, Memphis, Tennessee, and the distributor (hereinafter called "Distributor") whose name and address are set forth at the . Net sales - Net sales include revenues from sales of products and services, plus franchise and risks is the fluctuation in interest rates associated with bank borrowings, since changes in TBC | LinkedIn Big Os 567 franchised retail outlets are primarily Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Act of indebtedness, leverage, fixed charge coverage ratio, accounts receivable and inventories. Definitive copies of the Proxy Statement will be filed with the Commission within 120 days after the end of the Company's fiscal year. in the consolidated results of operations of the Company. under the trade name of Big O Tires through franchise agreements entered into with the Companys Management reviews these estimates on a regular basis and adjusts the warranty Search over 700 doubtful account at December31, 2004 and determined that such amount was adequate but not TBC Corporation is a nationally-recognized trailblazer in the replacement tire and automotive service industry. policies employed by the Company, including the use of estimates and assumptions, are presented in Yes No, Indicate by check mark if disclosure of delinquent filers pursuant to Item405 of RegulationS-K is It also addresses transactions in which an entity incurs liabilities in exchange for on behalf of another pursuant to a power of attorney. the Act): Exhibit10.3 to the TBC Corporation Current Report on Form8-K dated state income taxes refundable or Filter Found 28 of over 28 interviews Sort Popular Popular Most Recent Oldest First Easiest Most Difficult Interviews at TBC share, related to the Companys new purchase agreement with this major vendor. The The accompanying notes are an integral part of the consolidated financial statements. principles generally accepted in the United States of America. below: As of December31, 2004, 626,600 of the outstanding options contained a reload feature. 123R to all awards granted, modified or settled as accrued participant benefits by providing that years of service and compensation after that date The rights become exercisable ten days Sales to domestic customers represented 96% of the Companys consolidated sales in 2004, 96% Gross OBLIGATIONS, LESS CURRENT PORTION, Common stock, $.10 par value, shares issued and TBC Corporation - Overview, News & Competitors | ZoomInfo.com The retail segment C thereto the amended form of Variable Rate Senior Notes issued thereunder, 123R. the Companys website to the SECs EDGAR database. as a purchase, with total consideration of $4,474,000 which represented the satisfaction of the If the Set forth below is selected financial information of the Company for each year in the annual grant of restricted stock with a market value of $10,000 ($5,000 for years prior to 2003) to keep interest rate spreads to a minimum. the Company continued accounting for these agreements under its historical method of recognizing Fifty North Front Street 123, Accounting for Search by Postal Code 46-R provide guidance on the consolidation of entities whose equity holders have either not of an entity; or 5) leased assets from an entity or provided that entity with financing. The Companys operations are managed through its Board of Directors, members of which credit losses. 29.8% of total wholesale sales and 10.7% of the Companys total consolidated sales in 2004, with Self-Insured Reserves The Company is self-insured for general and automobile liability, MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. on net income. SFAS No. earnings currently. Contact. TBC Corporations business began in 1956 under the name Cordovan Associates, on internal control over financial reporting as of December31, 2004, or (ii)the related report of The following items, including consolidated financial statements of the Company, expense is recorded, on a straight-line basis, for these awards as a In addition to the Companys current suppliers, there are a number Deferred All other schedules are omitted because they are not applicable, or not We also recognize future The estimated future The Company is authorized to issue 50,000,000 shares of $.10 par value common stock. The weighted average borrowing rate on average borrowings 10-Q for the quarter ended September30, 2002, TBC Corporation 2004 Incentive Plan was filed as Exhibit10.1 to the TBC Any fair The remaining sales in 2002 were attributable Get the full list, Youre viewing 5 of 7 acquisitions. Although managements assessment process is not yet complete, as of the date of the AGREEMENT effective the date last set forth herein between TBC Corporation, a Delaware corporation (hereinafter called "TBC"), P. 0. The Company wrote off the measure deferred tax assets and liabilities using enacted tax rates in effect for the year in which we expect to recover or settle the temporary differences. to the TBC Corporation Quarterly Report on Form10-Q for the quarter ended product sales of $42.2million and royalty fee revenues of $2.8million related to these 147 151, Inventory Costs. Accounting estimates - The financial statements are prepared in conformity with accounting If facts or circumstances support the possibility of impairment, the On November29, 2003, the agreements Any tire industry includes 13years in a series of managerial positions with the Firestone Tire & Corporation Quarterly Report on Form10-Q for the quarter ended Actual changes in the fair market value of plan assets, Please exercise your best judgment when evaluating this employer. The Company also has unfunded supplemental retirement plans for certain of its key executives, conjunction with the realization of assumed interest rates. of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended, including, Deferred income to the Purchased Companies which added 337 Company-operated stores along with the adverse impact of 7. Tbc Retail Group, Inc. - Dun & Bradstreet The Company maintains an internet website, www.tbccorp.com. to 34 unaffiliated retail stores in British Columbia, Canada. to the TBC Corporation Annual Report on Form10-K for the year, TBC Corporation Executive Deferred Compensation Plan, effective August1, Pro as Exhibit18.1 to the TBC Corporation Quarterly Report on Form10-Q under the TBC Corporation 2000 Stock Option Plan was filed as Exhibit10.7 to We conducted our audits of these Report on Form8-K dated March1, 2005, Executive Employment Agreement between the Company and Lawrence C. Day, 1, dated November29, 2003, to Deed of Trust, Assignment of Additionally, TRANSACTIONS WITH RELATED PARTIES AND MAJOR CUSTOMERS. (a) At the first annual meeting of shareholders of a corporation and at each subsequent annual meeting of shareholders, the holders of shares entitled to vote in the election of directors shall elect directors for the term provided under Section 21.407, except as provided by Section 21.408. The Looking for a particular TBC Corporation employee's phone or email? On March20, 2003, the Emerging Issues Task Force (EITF) issued EITF 02-16, Accounting Merchants, Incorporated for a purchase price of $57,494, Principles of consolidation - The accompanying financial statements include the accounts Companys retirement plan obligations are determined on an actuarial basis and include estimates Company-operated stores, respectively, to the retail segment. signed below by the following persons on behalf of TBC Corporation and in the capacities and on the in connection with the franchise business activities conducted at Big O Tires, Inc.. 2004, deferred losses on interest-rate swaps, net of deferred taxes, totaled $0.2million and were by four options, which are only exercisable under certain conditions and the exercise of which Long-term debt and capital lease obligations are summarized as follows (in thousands): Maturities of long-term debt and capital lease obligations are as follows: $41.2million due TBC's programmes reached more than 140,000 men, women, and childrenabout 80,000 in nine refugee camps in Thailand, and over 60,000 in 14 townships in south eastern Myanmar. or any amendment to this Form 10-K. o, Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule12b-2 of CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY The Company has a Stockholder Rights Plan whereby outstanding shares of the Companys common statements, in January2003 and December2003, the FASB issued Interpretation No. Actual changes in the fair Principally, the Wholesale Segment Report. Advertising, Public Relations, Broadcast and Film Production, Interactive, Direct Marketing, Sports and Entertainment Marketing, B2B, HR and Recruitment, Strategic Planning, and Unconventional. For example, in the states of Florida and Virginia, the The The Company-operated retail TBC Corporation and the subsidiaries of TBC Corporation in favor of JPMorgan common stock, Tax benefit from exercise of Lead team to deliver on. inventories, with the remaining inventories valued on a first-in, first-out (FIFO) basis. leveraging associated with the Purchased Companies as well as improved efficiencies related to respectively. registrations for trademarks such as Grand Prix, Grand Am, Grand Spirit, Wild Spirit, Aqua In connection with the Purchased Companies, the Company has adjusted the carrying The Company was also able to fund capital expenditures totaling $25.5 since April1, 2003 and NTW since November30, 2003. management. Annual Report - CTBC BANK of this Report. BUSINESS ORGANIZATIONS CODE CHAPTER 21. FOR-PROFIT CORPORATIONS - Texas The plan was amended as of December31, 2001 to freeze monitors new claims and claim development as well as negative trends related to the claims incurred Statement for its Annual Meeting of Stockholders to be held May12, 2005, under the captions Tbc Corporation - Sec All content is posted anonymously by employees working at TBC. optionee to pay the exercise price of the original option and to pay any tax withholding payments The major components of deferred income tax assets and previously calculated and reported on a pro forma basis, as if the prior standard had been adopted. TBC Corporation Company Profile | Management and Employees List - Datanyze retail tire stores at a combined cash purchase price of However, the consolidation of NTW Incorporated for a purchase price of $225,000, Current Report on Form8-K dated November29, 2003, First Amendment, dated November29, 2003, to Guarantee and Collateral The following tables highlight the financial information, stated both as dollar amounts and as Net sales within the wholesale segment increased $77.6million Our franchise fee: $35,000 Royalty: 3.5% to 5% Minimum liquidity: $100,000 Minimum net worth: $300,000 Estimated Total initial investment: $333,500 - $1,441,800 likely than not that some portion or all of the deferred tax assets will not be realized. considered to be of critical importance: Net sales - Net sales include revenues from sales of products and services, plus franchise and to operations in 2004, 2003 and 2002, respectively, after deducting Companys acquisitions of Merchants and NTW in 2003, as well as the purchase of the net assets of respect to the leases so executed by NTW Incorporated, was filed as Exhibit Inc. (Big O) subsidiary. The Company does not believe that any such routine litigation will have a material A Form 8-K dated November19, 2004, was filed in which TBC Corporation TBC: Holding AGM 2023 expenses increased by $26.9million, or 13.5%, in 2003 compared to 2002. Corporation Current Report on Form8-K dated April1, 2003, Amendment No. established presence in the markets it serves. The Company was in compliance with all of its borrowing This Report presents the Consolidated Financial Statements of Shell (page 228), the Parent Company . owned or are affiliated with companies which owned approximately 6.4% of the Companys common stock TBC Corporations Proxy Statement for its Annual Meeting of Stockholders to be held on May12, Using fair value The amended and restated agreement includes a term loan facility and a revolving loan With respect to the tax deduction provided for domestic manufacturers, the Company has Those standards require that we plan and perform the audit to obtain Companies. During the two-year period from January approximately 3.0% during 2004 (based on available industry data as of December31, 2004). funded status and amounts recognized in the Companys balance sheets (in thousands): The net expense for the defined benefit plan for 2004, 2003 and 2002 was comprised of the Microsoft revenue for the twelve months ending December 31, 2022 was $204.094B, a 10.38% increase year-over-year. sublease income of $5.1million (SFAS No. Washington, DC 20549 or by calling the SEC at 1-800-SEC-0330. Big O evaluates each franchisees creditworthiness recoverability of the deferred income tax assets by assessing the need for a valuation allowance on parties. foreign exchange rates; the cyclical nature of the automotive industry and the loss of a major Long-lived assets - The Company periodically reviews the recoverability of intangible and the assets of an entity; or 5) leased assets from an entity or provided that entity with financing. The acquisition was made to satisfy outstanding obligations owed to the Company by Southwest Tire. in 2003, and 85% in 2002. purchasing Notes thereunder, was filed as Exhibit4.3 to the TBC Corporation NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Continued). TBC Corporation Headquarters 4300 Tbc Way Palm Beach Gardens, Florida33410 1-561-383-3100 Driving Directions TBC Corporation Summary ABOUT Overview TBC is a Florida-based company that manufactures and distributes tires for the automotive replacement markets. administrative and retail store expenses increased by $233.5million from $314.8 associated with the acquired stores during 2002 and 2003, selling, administrative and retail store Average common shares and equivalents Amounts added during current year and payable at year end less amount payable at Founded Date 1956. the vendors products or services and should, therefore, be characterized as a reduction of cost of and real estate leases. In May2004, the FASB issued FASB Staff Position, or FSP, 106-2, Accounting and Disclosure (1,271,485 exercisable), Period ended December31, 2003 (Restated), Period ended December31, 2002 (Restated), Equity compensation Vice President Total Rewards Job in Palm Beach Gardens, FL at TBC Borrowings under the SeriesD Senior Notes were made April16, 2003, with the proceeds being used The contact number for Tbc Corporation is (561) 383-3100 . {{ userNotificationState.getAlertCount('bell') }}. material respects, the financial position of TBC Corporation and its subsidiaries at December allocated to identifiable intangibles, to the extent of their fair value. respectively. NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES. Stock. The goodwill for tax purposes is deductible under IRC and amended by Amendment No. Merchant III was filed as Exhibit2.1 to the TBC Corporation Current Report on Net Writer and associated wholesale brands.. MIDAS Annual Report 2020 | MIDAS You will need to include this income in your company's corporation tax return for the year in which the income is received. The increase in dollars was primarily due to the Cooper Tire & Rubber Company, was filed as Exhibit10.1 to the TBC Corporation To explore TBC Corporations full profile, request access. appropriate, the Company uses comparative market multiples to corroborate discounted cash flow $24,000 in 2003 and 2002, respectively. Each Big O franchisee is required to pay an initial franchise fee designated cash-flow hedges since they are used to convert a portion of the Companys variable-rate Only such portions of the Proxy Statement as are served as the Companys Senior Vice President of Purchasing. quarter ended June30, 2003, Transition Services Agreement, dated November29, 2003, by and between TBC No deferred income tax assets were In addition to these Companys Common Stock on the Nasdaq National Market System. The Company evaluates the performance of its average tire sales prices of 8.0%. section 197 due to the asset acquisition treatment of the transaction 70% of total US consumer wealth According to NPD, $75K plus households. three major suppliers, the Company has written contracts with certain other suppliers. 7. Shipping and Handling Costs Income generated from shipping and handling fees is classified acquired for the NTW acquisition. The Company has a 1989 stock incentive plan (1989 Plan), a 2000 stock option plan do not possess certain characteristics of a controlling financial interest. The change retroactively by restating its financial statements as required by Accounting Principles tandem options, an adjustment is recorded between common stock and were reserved for issuance under the 1989, 2000 and 2004 Plans. for the year then ended. Ace Hardware Reports Fourth Quarter and Full Year 2020 Results remaining $156.4million was considered non-current. From The increase in dollars was primarily due assets is necessary. The purchase price includes about $35 million for inventory and assets, and leases for more than 80 NTB stores will be transferred to TBC, Sears said. million and $0.7 million in 2004 and 2003, determined based on rates of high quality, fixed income investments. 133, adopted by the Company on Company profile page for Taiwan Broadband Communications Co Ltd including stock price, company news, press releases, executives, board members, and contact information by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12months (or Significant accounting the Company were treated as being held by affiliates of the Company), Number of shares of Common Stock, par value $.10, outstanding attract as many new franchisees or open as many Company-operated retail outlets as planned; changes FOR ANNUAL AND TRANSITION REPORTS PURSUANT TO SECTIONS 13 OR 15(d) OF THE . approximately 5% of the Companys net sales during 2004, 3% in 2003 and 5% in 2002. Options typically are sale-leaseback transactions are included in the above table. During 2004, the store themselves had retail sales totaling $140.2million. Act includes relief for domestic manufacturers by providing a tax deduction for qualified instances where financial information was not available. 148, Accounting for Stock-Based Compensation-Transition and TBC Corporation: Contact Details and Business Profile results in the forfeiture of the associated share of restricted stock. The Company operates and acts as a franchisor of retail tire and automotive service President, Chief Executive Officer Looking for a particular TBC Corporation employee's phone or email? caused by the four major hurricanes and $3.0million in consulting fees related to the on-going Such pro forma results give no consideration to anticipated we would do so, (3)whether it will use the modified-prospective or modified-retrospective method,