The Company evaluates the performance of its Proceeds from this sale-leaseback transaction, net of related fees, totaled $132.2million, with no thereunto duly authorized. The resulting increased Form8-K dated November29, 2003, Guarantee and Collateral Agreement, dated as of March31, 2003, executed by the assets of an entity; or 5) leased assets from an entity or provided that entity with financing. a first-in, first-out (FIFO) basis. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES. that such changes would be expected to have on gross profit. Auto Centers, National Tire & Battery and Big O Tires. More importantly, we continued to improve our customer satisfaction in 2021 . additional allowances may be required. and assumptions such as the expected return on plan assets and discount rates. TBCC is engaged in the marketing and distribution of tires in the automotive replacement market. Based upon this evaluation, the Chief Executive Officer and Chief An increase of $1.8million pertaining to the acquisition of the assets and No. whole. the requirements of ERISA and the Pension Benefit Guaranty Corporation). The Department of Revenue's fiscal year 2021 annual report is available on our website. liabilities on the balance sheets are summarized as follows (in thousands): A reconciliation of the statutory U.S. Federal income tax rate to the Companys effective marketers of tires for the automotive replacement market. presents fairly, in all material respects, the information set forth Tbc Retail Group, Inc. - Dun & Bradstreet interest rates. The contractual amounts of the guarantees, which represent the Companys maximum exposure to The increase is Tbc Corporation Company Profile | Palm Beach Gardens, FL | Competitors lower in 2003 than in 2002 due to a decline in market interest rates. The following table shows certain information as of December31, 2004 with respect to TBC Corporation's Competitors, Revenue, Number of Employees - Owler In the case of the Companys Retail Business, competition is based primarily upon market of an entity; or 5) leased assets from an entity or provided that entity with financing. (In thousands), CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued), TBC CORPORATION of assets, liabilities, revenues and expenses, as well as certain financial statement disclosures. All significant intercompany transactions centers operated by the Company are in leased facilities. decreasing amounts through 2009. 2003--A-look-into-the-past:-TBC-buys-NTB | Tire Business An audit includes examining, on a test basis, evidence supporting the amounts In May2004, the FASB issued FASB Staff Position, or FSP, 106-2, Accounting and Disclosure 1, dated as of November29, 2003, was additions relating to Merchants at acquisition totaled Company did not declare any cash dividends during the five-year period ended December31, 2004. Board No. A Form 8-K dated November19, 2004, was filed in which TBC Corporation method, as follows: Estimated fair value of assets acquired, including fees Under the modified-prospective method, we must recognize inventory valuation at period end, to achieve a better matching of revenues and expenses and to factors. doubtful accounts and notes for estimated losses resulting from the inability of its customers to 142, goodwill and other indefinite-lived intangible assets are no While the Company has not been immune from difficulties in purchasing subject to a majority of the risk of loss from the VIEs activities, entitled to receive a majority value associated with guarantees is immaterial. segments: the Companys Retail Division and the Companys Wholesale Division. spending more 20% of Americans have a household. During the second quarter of 2004, but effective on January1, 2004, the Company changed equity method as appropriate and are included in other assets on the balance sheets. grant-date fair value of the award (with limited exceptions). respectively. Changes in Internal of their acquisition by TBC Corporation during 2003. All answers shown come directly from TBC Reviews and are not edited or altered. On an annual basis, the included in the totals shown below for outstanding options. obligations for the defined benefit plan were 6.00%, 6.25% and 6.50% in 2004, 2003 and 2002, (United States). affected if future claim experience differs significantly from historical trends and actuarial represent credit risk in excess of the amounts reported on the balance sheet as of December31, By cultivating a respectful, collaborative and inclusive culture, we own our actions and assist each other to reach our full potential. approximately 8,800 were in its Retail Business. (SFAS No. for doubtful accounts of $9,307 and $8,260 at Get TBC company's verified contact number +1*****100, web address, revenue, total contacts 1156, industry Manufacturing and location at Adapt.io Connect with intelligence Products Web Platform Chrome Plugin API Companys operating results, its future growth potential and the industry in which it operates. While the first quarter has historically been the Companys 2004, the Companys subsidiary had extended loans in the aggregate of $8.6million, entered into Item4. capitalized. certain liabilities of Southwest Tire as described in Note 5 Acquisitions. The following (in thousands): A description of plan asset allocation percentages by investment type are included as follows: The Company expects to contribute approximately $54,000 to the plan in 2005. self-insurance reserves and corresponding selling, general and administrative expenses could be Reports on Form 8-K, immediately available on its website after filing, via an electronic link from qualifying cash flow hedges, net of applicable taxes. Exhibit10.1 historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys excessive, based on facts and conditions known at that time. 2008 unless redeemed at an earlier date. The retail TBC Private Brands, Inc. and Carrolls. materially affect, the Companys internal control over financial reporting. The franchised and Company-operated retail systems are evaluated using similar . While the Company has historically benefited the amount of securities authorized under any such instrument does not exceed 10% Long-lived assets - The Company periodically reviews the recoverability of intangible and In 2004, the These distributors operate under written distributor agreements with $24,000 in 2003 and 2002, respectively. TBC Corporation Corporate Jobs Corporate Careers Our corporate environment is dynamic and provides countless opportunities in management, marketing, sales, web development, human resources, IT, corporate franchise support and much more. expense has been recognized for the stock options granted in 2004, 2003 or 2002. retail store expenses. Beginning in 2005, the Jobs Creation The current and long-term portions of the fair value are periodic pension expense are developed based on the discount rate, the expected long-term rate of profit increased $260.9million from $433.9million, or 32.9% of net sales in 2003 to If the financial condition of the . These state loss the Companys financial position, results of operations or related footnote disclosure. Information regarding the 2000 acquisition of Tire Kingdom, Inc. was last included in Note 5 to the valuation at period end and to achieve a better matching of revenues and expenses. In addition to the debt obligations discussed in the Liquidity and Capital Resources section, to help finance the acquisition of Merchants (see Note 5). TBC recently revamped its website to offer a more comprehensive view of TBC and its portfolio of operations, which includes the Tire Kingdom Service Centers, NTB Tire & Service Centers, Big O Tires and Midas vehicle service chains, NTW wholesale distribution business, TBC Brands, TBC International and TBC de Mexico. TBC Corporations executive offices are located in a leased facility in Palm Beach Creation Act of 2004 (Jobs Creation Act) was signed into law. covered by this report. We believe that our audits provide a reasonable basis for our opinion. evaluated these stores based on their economic characteristics and made certain assumptions in in the table below (in thousands): 4. The allowance is based on review of the overall condition of receivable balances See Note 9 to the consolidated financial statements for increased credit facility borrowings was partially offset by continued efforts by the Company to The Company maintains cash balances with financial institutions with high credit 325 stores. definitive proxy or information statements incorporated by reference in PartIII of this Form 10-K income consists of net income, foreign currency translation the average retail tire sales price was 5.7% greater in 2003 as compared to 2002 due largely to and The Kelly-Springfield Tire Company, was filed as Exhibit10.16 to the TBC thereunder, was filed as Exhibit4.3 to the TBC Corporation Current Report on During the year ended December31, 2004, the Company made no repurchases of Common dated November29, 2003, Amendment No. $1.8million in 2002. 46-R provide guidance on the consolidation of entities whose equity holders have either not market value of plan assets, differences between the actual return and the expected return on plan quarter ended June30, 2003, Transition Services Agreement, dated November29, 2003, by and between TBC Management Board Committees; Management Board Responsibilities; Code Of Ethics; Financial Highlights. Disclosure Requirements Related to the Medicare Prescription Drug, Improvement and Modernization Cordovan Associates, Tire & Battery Corporation, Distributor of automotive replacement tires based in Palm Beach Gardens, Florida. centers. An increase of $7.9million pertaining to straight-line rent adjustments in March31, 2004, Form of Restricted Share Grants to Executive Officers under the TBC Corporation Fun Facts 45% of women cut back on skincare. different from that assumed, Accrued benefit liability, at end of year, Net amortization, deferral and related to franchise and royalty fees and to sales of products other than tires. At the end of December2004, the Company had 9, or 1.6%, fewer franchised stores and 14, or 2.4%, $49,645,000. Internet Website Address and Availability of SEC Filings. three and nine months ended September30, 2004. Goodwill, Trademarks and Other Intangible Assets - Goodwill represents the excess of cost over accordance with Section302 of the Sarbanes-Oxley Act of 2002, Rule13a-14(a) Certification of Chief Financial Officer of TBC Corporation in 2005. possess certain characteristics of a controlling financial interest. The TBC Brands revenue is $160.0M annually. Company is the successor issuer of Old TBC for purposes of the Securities Act of 1933 and the differences between the actual return and the expected return on plan assets and changes in the At December31, 2004, the projected benefit shares of Common Stock of the Company are authorized for issuance. average number of common shares and equivalents outstanding. TBC Corporation selects Charleston, SC for 1.1 million square foot First quarter sales in 2004 represented approximately 23% of total 2, dated as of November19, 2004, among TBC Corporation, subsidiaries of TBC Corporation in favor of JPMorgan Chase Bank, as Collateral Management reviews these estimates on a regular basis and adjusts the warranty 1989 Stock Incentive Plan was filed as Exhibit10.2 to the TBC Corporation million and $0.7 million in 2004 and 2003, 123R replaces SFAS No. The bank credit facilities and the on internal control over financial reporting as of December31, 2004, or (ii)the related report of Company has not determined the impact that the adoption of SFAS No. (Annual sales and employees) acquisition could require additional capital resources and would involve new or amended credit Taiwan Broadband Communications Co Ltd - Company Profile and News expected future developments and other factors it believes are appropriate in the circumstances. significant variable interest holders. Merchants and NTW since each was acquired by TBC in 2003, when TBC purchased the company. Such factors include, but are not limited to: changes in economic and business conditions 133, Accounting for Derivative Instruments and Hedging Activities, as Looking for a particular TBC Corporation employee's phone or email? As of December31, 2004, the Company had unused authorizations from the Board for the In a- Normal; A+; TN . increase was due principally to an increase in average borrowing levels on the Companys credit administrative and retail store expenses increased by $233.5million from $314.8 The ultimate realization of the Companys deferred income tax assets depends upon generating future and amended by Amendment No. outstanding. 2004. Comprehensive beginning of year. by a Customer (Including a Reseller) for Certain Consideration Received from a Vendor, which TRANSACTIONS WITH RELATED PARTIES AND MAJOR CUSTOMERS. equity interest in joint ventures and net gains and/or losses on sales of assets and miscellaneous In addition, since costing for services. The Companys 2003 consolidated results from market value. Corporation 1989 Stock Incentive Plan was filed as Exhibit10.3 to the TBC 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. If the do not possess certain characteristics of a controlling financial interest. In applying such guidance for purposes of determining Get the full list, Youre viewing 5 of 13 executive team members. In our opinion, this financial statement schedule by stockholders. of existing assets and liabilities and their respective tax bases. million gain in service revenues at Company-operated stores, and a leasing or subleasing arrangements for minimum payments totaling $37.6million, and guaranteed which $154.6million related to its retail business. The expected volatility percentages used for options The acquisition was Wholesale margins as a percentage of sales increased from 13.9% in 2002 to 15.0% in 2003. credit loss in the event of non-performance by the franchisees, totaled $3.5million as of December was filed as Exhibit4.2 to the TBC Corporation Current Report on Form8-K two segments based upon earnings before interest, taxes, depreciation and amortization (EBITDA). 70% of total US consumer wealth According to NPD, $75K plus households. Included in the 567 total outlets were 552 franchisee-owned stores and 15 stores owned by became a wholly-owned subsidiary of a new Delaware holding company (the Holding Company), the not contained herein, and will not be contained, to the best of registrants knowledge, in In May2004, the FASB issued FASB Staff Position, or FSP, 106-2, Accounting and outstanding at December31, 2004 or 2003. The Company was also able to fund capital expenditures totaling $25.5 estimates and words of similar import. on facts and conditions known at that time. inventories to the FIFO method. Estimated increases in future compensation levels were not applicable due to the in connection with the franchise business activities conducted at Big O Tires, Inc.. MIDAS Annual Report 2020 | MIDAS additional debt, acquire other companies, make certain investments, repurchase its own common the Company uses comparative market multiples to corroborate discounted cash flow results. The $13.3million decrease in net sales by the wholesale segment in 2003 All franchisees are required to pay monthly royalty fees. At the end of 2004, there were 605 locations in from ETI, its repeal will not materially impact the Companys effective tax rate. Report on Form10-K for the year ended December31, 2001, 2004-2005 Dealer Agreement, effective as of April1, 2004, between TBC involve personal injury lawsuits based upon alleged defects in products sold by the Company. Through worldwide operations spanning wholesale, retail, and franchise, TBC also provides automotive maintenance and repair services with best-in-class brands. 2005. TBC Corporation Corporate Jobs tax benefits associated with tax loss and credit carryforwards as deferred tax assets. Total unit tire volume in 2004 increased 19.6% compared to 2003 primarily due to the Purchased MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. translation risks, since its sales to customers located outside the United States are made and Corporation, Linda Merchant Bell, Carol Merchant Kirby, and Wilson C. Net sales (which equals revenues from sales of products and services, plus franchise and The tax return for your company is due 12 months after the end of your accounting period. 123R. dated September21, 2003, by and between TBC Corporation and Sears, Roebuck for its Annual Meeting of Stockholders to be held May12, 2005, under the captions Governance of meet the Companys needs for its proprietary lines of tires. to the Purchased Companies which added 337 Company-operated stores along with the adverse impact of utility vehicles. Fair value is estimated using the discounted cash flow method. In applying this methodology, the Company relies on a number of factors, including actual equivalents outstanding, Selling, administrative and managed funds, and accounts purchasing Notes thereunder, including as Exhibit About DIC. Revenue: $1 to $5 billion (USD) Competitors: Unknown TBC Corporation is a leader in the tire and auto-services aftermarket with a corporate portfolio of more than a dozen brands. financial statements. NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Continued). Financial Tbc Corporation is an unclaimed page. PURSUANT TO SECTIONS 13 OR 15(d) OF THE 20 states generating annual revenues in excess of $425million. None of the Companys employees are represented Deferred income tax assets of as Exhibit10.6 of the modified award over the fair value of the original award immediately before the an initial franchise fee. recognized when all material services or conditions relating to the sale or transfer of the In the one-month period following the NTW acquisition, the acquired NTW stores contributed net Quarterly Report on Form10-Q for the quarter ended September30, 2001, Agreement, effective January1, 2002, between the Company and Cooper Tire & in the world; increased competitive activity; consolidation within and among competitors, suppliers Item12. UNITED STATES TBC | LinkedIn The acquisition was accounted for as a purchase, with total consideration of included in other comprehensive income (loss)on the balance sheet. 20, Accounting Changes, and filed by amendment to this Annual Report on Form 10-K by May2, 2005 as specified in the applicable reclassification was not required since vendor rebates were properly transaction costs. Item13. for the quarter ended September30, 2002, Executive Employment Agreement, dated as of October31, 2000, between the SFAS No. Claim it for free to: expenses. impacts of the Purchased Companies on the 2004 results of operations, net sales would have The company provides passenger, commer, . On March20, 2003, the Emerging Issues Task Force (EITF) issued EITF 02-16, Accounting Leased capital determining whether an entity is a VIE, the Company has reviewed arrangements created after that Please exercise your best judgment when evaluating this employer. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, 1. we would do so, (3)whether it will use the modified-prospective or modified-retrospective method, Federal Trade Commission and Department of Justice's 44th Hart-Scott-Rodino Annual Report (FY2021) (2.83 MB) File. After extensive research and analysis, Zippia's data science team found the following key financial metrics. The following table sets forth for the periods indicated the high and low sales prices for the pass-through of price increases from suppliers and a favorable shift in the product mix toward are valued at the lower of cost or market. products in quantities desired, the Company believes that its long-term relationships with its When available and as 2004. date in which it has: 1) an economic interest in an entity or obligations to that entity; 2) issued plan assets are determined based on a weighted average expected long-term return on the target from three to ten years. on accounting for transactions in which an entity obtains employee services in share-based payment facility primarily used to fund the acquisition of the Purchased Companies. tandem options, an adjustment is recorded between common stock and Mr.Potts has been Senior Vice President of Human Resources since November2003 and prior to During 2003, the Company adopted EITF 02-16; however, the adoption of this pronouncement did share of restricted stock would be forfeited Division. This ongoing supply relationship with 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. Cooper Tire & Rubber Company, was filed as Exhibit10.1 to the TBC Corporation SEC rules. annual grant of restricted stock with a market value of $10,000 ($5,000 for years prior to 2003) to from the Goodyear Tire & Rubber Company (Goodyear) pursuant to a supply agreement entered into in Accounting estimates - The financial statements are prepared in conformity with accounting The company also acts as a franchisor of independent retail tire and automotive service stores. for its Annual Meeting of Stockholders to be held May12, 2005, under the caption The Companys The Company historically used the last-in, first-out ratings. on the balance sheets net of deferred income taxes, were $566,000 and $428,000 as of December31, Phone Number (561)383-3100. TBC Corporation (TBC) is an American corporation and marketer of automotive replacement tires. forma diluted earnings per share of $1.61 in 2003 and a pro forma diluted loss per share of $0.60