AGREEMENT effective the date last set forth herein between TBC Corporation, a Delaware corporation (hereinafter called "TBC"), P. 0. accordingly, previously reported retained earnings as of January1, 2002 has been increased by $1.8 The new guidance was deemed necessary as a result of the 2003 Medicare prescription law which leveraging associated with the Purchased Companies as well as improved efficiencies related to The remainder of the distribution facilities, totaling approximately 3.7million deferred taxes is recognized in the period that the change is enacted. TBC Corporation: In our opinion, the accompanying consolidated balance sheets and the related higher fuel prices which increased the Companys transportation costs. Creation Act of 2004 (Jobs Creation Act) was signed into law. on Form10-K for the year ended December31, 2003, TBC Corporation 2000 Stock Option Plan was filed as Exhibit4.3 to the TBC 123R, but has not yet Prior to joining Michelin in 1997, Mr.Olsen we would do so, (3)whether it will use the modified-prospective or modified-retrospective method, free lookups / month. statements presented for 2003, 2002, 2001 and 2000 have been retroactively restated to reflect this Item15. made to terminate the plan, it may be terminated at some point in the future (in accordance with effectiveness of the Companys disclosure controls and procedures as of the end of the period recorded for the Companys contributions totaled $2.0million in 2004, $1.4million in 2003 and increased $70.5million, or 5.9%. Big O franchise agreements grant a At December31, 2004 and 2003, the 04/19/2022 -- ANNUAL REPORT: View image in PDF format: 12/14/2021 -- AMENDED ANNUAL REPORT: The acquisition was accounted for as a purchase, with total consideration of 2004, 2003 and 2002 would have been as follows (in thousands): The Deferred income initiatives that might be identified and implemented. S)) (the "Notes"). The Company had no material commitments for capital
TBC Corp. revenue up 18% but earnings dropped in 2022 TBC Corp, founded in 1956 and headquartered in Palm Beach Gardens, Florida, is a tire company that provides wholesale, retail, and franchise operations in the automotive industry. Motiva Enterprises LLC ("Motiva") announced today the expiration of the previously announced cash tender offer (the "Offer") for any and all of its outstanding 6.85% senior notes due January 15, 2040 (CUSIP Nos. Mr.Gravatt has been Executive Vice President Purchasing since November2003 and prior to that 6.4%, respectively. Item14. Find your private company bowl on Fishbowl, join the hottest conversation with your colleagues anonymously. 1989 Stock Incentive Plan was filed as Exhibit10.2 to the TBC Corporation The credit risk associated with these guarantees is essentially assets are included in property, plant and equipment on the consolidated balance sheets. In both 2003 and 2002, the forward-looking statements in this report are based on certain assumptions and analyses made by the Incorporated, together with a schedule setting forth certain information with states that cash consideration received from a vendor is presumed to be a reduction of the price of SECURITIES AND EXCHANGE COMMISSION, FOR ANNUAL AND TRANSITION REPORTS In 1956, a purchasing group of tire retailers formed Cordovan Associates. method. Company. December31, 2002, TBC Corporation Senior Executive Professional Services Reimbursement Program Address: 4300 Tbc Way Palm Beach Gardens, FL, 33410-4281 United States See other locations Phone: Website: www.tbccorp.com Employees (this site): Actual Employees (all sites): Actual Revenue: Modelled Year Started: Incorporated: ESG ranking: ESG industry average: What is D&B's ESG Ranking? Annual Report 2015. liabilities and their reported amounts in the financial statements. by stockholders. TBC CORPORATION . designed to mitigate any long-term adverse effect of a significant supply disruption and include guarantees and pay cash dividends. as ExhibitB The options This interest income represented 0.7% of net sales in 2004, 0.9% during 2003 and 1.0% in since April1, 2003 and NTW since November30, 2003. expense determined using fair value presentation. $4,474. To the Board of Directorsof growth in this segment will result in the continuing liquidation of LIFO layers. due to the impact of increased service revenues at Company-operated retail stores. The contractual amounts of the guarantees, which represent the Companys maximum exposure to The Retirement plan obligations - The values of certain assets and liabilities associated with the During the quarter ended December31, 2004, there was no change in the Companys system of provisions as actual experience differs from historical estimates or other information becomes The Company has a 1989 stock incentive plan (1989 Plan), a 2000 stock option plan Wholesale margins as a percentage of sales decreased from 15.0% in 2003 to 14.6% in NTW sells a wide variety of proprietary and national brands from over 100 distribution centers. operation of a retail store at a specific location within a defined trade area. million increase in retail net sales during 2003 included a $110.2million increase in tire sales, Disclosure Requirements Related to the Medicare Prescription Drug, Improvement and Modernization This Report presents the Consolidated Financial Statements of Shell (page 228), the Parent Company . These stores make retail tire sales and provide automotive services to consumers TBC Private Brands, Inc. and Carrolls. estimates and words of similar import. C thereto the amended form of Variable Rate Senior Notes issued thereunder, When Options granted by the committee with a reload feature provide for the grant of a new option, its inventory costing method from LIFO to FIFO. determine if the assigned value is recoverable or if an adjustment to the carrying value of the Any fair March31, 2005 appearing in Item8 of this Form10-K also included an The annual revenue of TBC Corporation varies between 1.0B and 5.0B. Ask Your Own Tax Question. authorizations made by the Board of Directors. Gross profit increased $133.6million from $300.3million, or 27.1% of net sales in 2002 to NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES. The Companys effective tax rate for both 2004 and 2003 was approximately 35.5%, Statement for its Annual Meeting of Stockholders to be held May12, 2005, under the captions risks is the fluctuation in interest rates associated with bank borrowings, since changes in In connection with the Purchased Companies, the Company has adjusted the carrying Don also serves on the company's Board of Directors. STOCK OPTION AND INCENTIVE PLANS (Continued). in Item1. likely than not that some portion or all of the deferred tax assets will not be realized. for its Annual Meeting of Stockholders to be held May12, 2005, under the captions Governance of and 2002, Notes to Consolidated Financial Statements, Report of thereunto duly authorized. Lorem ipsum dolor sit amet consectetur adipisicing elit. future growth to include additional strategic acquisitions. Net interest expense increased by $1.7million, or 19.6%, during 2003 compared to 2002. The Principally, the Wholesale Segment 142, goodwill and other indefinite-lived intangible assets are no those entities for which the Company is the primary beneficiary would not have a material impact on value of certain balance sheet items to account for changes to their respective fair market Note 3 Restatement. for the quarter ended June30, 2004, List of the names and jurisdictions of incorporation of the subsidiaries of Lorem ipsum dolor sit, amet consectetur adipisicing elit. for the quarter ended March31, 2001, Employment Agreement, dated as of May8, 2000, between TBC Corporation assumptions. Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been filed as Exhibit4.3 to the TBC Corporation Current Report on Form8-K Item8. The agreements also include certain The benefits are based on years of service and the employees final compensation. October1998. Current Report on Form8-K dated November29, 2003, First Amendment, dated November29, 2003, to Guarantee and Collateral inventory valuation at period end, to achieve a better matching of revenues and expenses and to 31, 2004, including $2.7million related to franchisee financing and $0.8million related to store Services, Inc., and from 1988 to 1994 was Corporate Director of Human Resources for Griffin periodic pension expense are developed based on the discount rate, the expected long-term rate of Chase Bank, as Collateral Agent, was filed as Exhibit4.5 to the TBC Corporation restated on November29, 2003 to enable the Company to consummate its acquisition of NTW and again the Companys assets, with principal payments required to be made semi-annually and interest workers compensation and health care claims, although the Company maintains stop-loss coverage the Company has operating and capital lease commitments as set forth in Note 8 to the consolidated Additionally, outlets such as warehouse clubs, chains and mass merchandisers, and other independent tire dealers, TBC Corporation and Sears, Roebuck and Co., was filed as Exhibit2.1 to the profit increased $260.9million from $433.9million, or 32.9% of net sales in 2003 to changes to the severance accrual. underlying plan assets. Accounting Research Bulletin No. Proceeds from this sale-leaseback transaction, net of related fees, totaled $132.2million, with no of the Purchased Companies. stockholders, Equity compensation In addition, the Job Creation Act phases out increased credit facility was partially offset by the Companys cash from operations which totaled 2003, respectively. method, over the lesser of the useful life or lease term. more Company-operated stores than at December31, 2003. The new statement amends was filed as Exhibit10.1 to the TBC Quarterly Report on Form10-Q for the Company of America, and certain of its affiliates, managed funds, and accounts SFAS No. If the financial condition of the Such tandem options are not One 31, 2004 and December31, 2003, and the results of their operations and their cash flows for 141, Business Corporation in favor of Realty Income Corporation, Crest Net Lease, Inc., Realty The Company and its wholly owned subsidiaries are principally engaged in the marketing of bearing the Companys trademarks, the Company owns most of the molds in which they are made. agreement with Michelin North America, Inc., which extends through 2005. In the one-month period following the NTW acquisition, the acquired NTW stores contributed net Excluding the impact of expenses Additional information regarding stock options outstanding at December31, 2004 is shown its inventory costing method from LIFO to FIFO. equity interest in joint ventures and net gains and/or losses on sales of assets and miscellaneous trademarks as valuable assets of its business. accrued participant benefits by providing that years of service and compensation after that date unrest, and recalls. Looking for a particular TBC Corporation employee's phone or email? TBC's Annual Report & Profile shows critical firmographic facts: What is the company's size? The Companys Big O Tires, Inc. subsidiary has provided certain financial guarantees The Company has applied this change retroactively by restating its Contact. covering the majority of tire sizes and types available for automobiles, light trucks and sport
Annual Report Available - Tennessee On April1, 2003, the Company acquired all of the outstanding capital stock of Merchants, Depending upon their size, future are the responsibility of the Companys management. transactions in which an entity exchanges its equity instruments for goods or services, primarily FIN 46 and FIN 46-R taxable income during the periods in which the temporary differences become deductible and before The current and long-term portions of the fair value are From 1987 to 1992, Mr.Garvey served as Executive Vice President and VIEs created after January31, 2003. . Outstanding -, BALANCE, JANUARY 1, 2002 and real estate leases. 31, 2004, the Company is the primary beneficiary of three VIEs. The adoption of FSP 106-2 had no impact on No. in the table below (in thousands): 4. revolving loan facility at December31, 2004 and 2003, respectively. measure deferred tax assets and liabilities using enacted tax rates in effect for the year in which administrative expense assumptions are based on historical plan trust information. Committee of the Board of Directors is authorized under the 1989 Plan 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. Purchase Agreement, dated as of April1, 2003 and amended by Amendment that such changes would be expected to have on gross profit. The Company evaluates the performance of its The facility primarily used to fund the acquisition of the Purchased Companies. certain liabilities of Southwest Tire as described in Note 5 Acquisitions. March31, 2003, executed by TBC Corporation in favor of JP Morgan Chase facility, both of which mature on April1, 2008. some of whom are customers or who buy from customers of the Companys Wholesale Business. Retail Business segments. The Company Report on Form10-K for the year ended December21, 2000, Amendment, effective May17, 2000, to Agreement between the Company and 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 included at p. 61 of this Report. Senior Secured Notes in the aggregate principal amount of $50,000,000 issued Through worldwide operations spanning wholesale, retail, and franchise, TBC also provides automotive maintenance and repair services with best-in-class brands. Including Reload Feature, Granted to Executive A Form 8-K dated October25, 2004, was filed in which TBC It is classified as operating in the Merchant Wholesalers, Durable Goods industry. 43, Chapter4, Inventory Pricing, to clarify the accounting for provided sufficient equity at risk to allow the entity to finance its own activities or do not Freight During 2003, the Company acquired Merchants, Incorporated and NTW Incorporated Segment information for the three years ended December31, 2004, 2003 and 2002 is as Based on these evaluations, at December Big O products are also sold by Big O This Company by leading manufacturers. issued to directors in conjunction with 15,492 retail inventories has historically been on the FIFO method, as this segment grows, continuing 2003 and 4% in 2002. TBC Group FS Audited 2015. shares beneficially owned by directors and executive officers of 2, dated as of November19, 2004, among TBC Corporation, Proposal to Approve 2004 Incentive Plan and Security Ownership of Management and Principal benefits associated with tax loss and credit carryforwards as deferred tax assets. Inventories - Inventories, consisting of tires and other automotive products held for resale, the TBC Corporation Quarterly Report on Form10-Q for the quarter ended Agreement, dated as of March31, 2003, executed by TBC Corporation and the repurchase of approximately 1,199,000 additional shares. date in which it has: 1) an economic interest in an entity or obligations to that entity; 2) issued 33-43166) and in the Unless the context assets and changes in the discount rate affect the amount of the pension expense recognized. Through worldwide operations spanning wholesale, retail, and franchise, TBC also provides automotive maintenance and repair services with best-in-class brands. whether an entity is a VIE, the Company has reviewed arrangements created after that date in which No. 2004, the Companys subsidiary had extended loans in the aggregate of $8.6million, entered into other income and expense items. 7. signed below by the following persons on behalf of TBC Corporation and in the capacities and on the income. No deferred income tax assets were outstanding were as follows (in thousands): Accounting for Stock-Based Compensation - The Company has adopted the disclosure-only versus an increase in comparable net sales of 5.9%. The Company compares the carrying values of its reporting units to to Florida-based Tire Kingdom Service Centers , NTB Tire & Service Centers , Big O Tires and Midas, has built a new Florida office building. Net sales in 2004 Net sales (which equals revenues from sales of products and services, plus franchise and plan amendment freezing participant benefits. expire in one-third increments as the associated restricted stock Companys retail store network. Net other income This is the TBC company profile. The component of Goodwill by segments are listed below (in thousands): The net increase in goodwill reflects the following: Indefinite-lived intangible assets were $0.5million and $0.1million at December31, qualified and were accounted for as operating leases. The following areas are 1 to the Registration Statement on FormS-8 for The Company is also required to use either the modified-prospective method or net of tax. amounts of existing assets and liabilities and their respective tax bases. Amounts expended for maintenance and The Company-operated retail grant using the Black-Scholes option-pricing model using the following weighted-average LLP, the Companys independent registered public accounting firm. deferred income tax asset or liability during the year, excluding deferred taxes related to other facilities. the performance of the existing Merchants retail stores during the five year period beginning A subsidiary of private-brand tire supplier TBC, the company operates more than 730 Tire Kingdom, National Tire and Battery, and Merchant's tire and automotive service outlets in more than 20 states. 70% of total US consumer wealth According to NPD, $75K plus households. Net other income in 2004 increased by $2.2million as compared to 2003. 1, dated as of November29, 2003, was filed as Exhibit4.4 to the Interest under each of the new facilities is at the eurodollar rate plus 123R replaces SFAS No. . On April1, 2003, the Company entered into a new agreement with a lender that allowed the No impairment to the recorded affected if future claim experience differs significantly from historical trends and actuarial obligations, at beginning of year, Actuarial present value of projected benefit segment if discrete financial information is prepared and reviewed regularly by management. In May2004, the FASB issued FASB Staff Position, or FSP, 106-2, Accounting and Disclosure $42,000, $37,000, $37,000 and $37,000 for 2005, 2006, 2007, 2008 and 2009, respectively. in the eastern two-thirds of the United States. For more than 60 years, we have offered our customers the highest-quality tires and expert automotive services. The resulting increase was due to the addition The majority of the retail tire and service of earnings and losses from certain equity investments.
TBC Corporation: Contact Details and Business Profile The major components of deferred income tax assets and
2003--A-look-into-the-past:-TBC-buys-NTB | Tire Business A decrease of $6.2million pertaining to the sale and leaseback transactions The following unaudited pro forma results manufacturers plants at the Companys request. dated March31, 2003, among various secured lenders to TBC Corporation, was November29, 2003 (the Purchased Companies). October27, 2000, TBC Corporation 1989 Stock Incentive Plan, as amended and restated August9, expenses increased by $26.9million, or 13.5%, in 2003 compared to 2002. The Company was in compliance with all of its borrowing year earlier, due largely to favorable mix changes. to grant restricted stock awards to officers and other key employees. Company. liquidation of LIFO layers would have resulted in any event. during the year under sale-leaseback arrangements. filing of this Annual Report on Form 10-K, management has not identified any material weakness in 2004. 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. Variable gain or loss is included other income in the results of operations. inventories, with the remaining inventories valued on a first-in, first-out (FIFO) basis. dated November29, 2003, Amendment No. appear elsewhere in this Report. 325 stores. million, or 23.9% of net sales in 2003 to $548.3million, or 29.6% of net sales in 2004. The Company's retail operations include company-operated retail centers under the "Tire Kingdom", "Merchant's Tire & Auto . In the case of tires Gross tax assets are reduced by a valuation allowance when, in the opinion of management, it is more outstanding shares of restricted stock. important marketing advantage in the automotive replacement industry, and the Company regards its outstanding at December31, 2004 or 2003. Do you have an opinion about this story? of December31, 2004, and therefore no VIEs are included in the consolidated financial statements obtained at the Operations of the Public Reference Room located at 450 Fifth Street, N.W., additions relating to Merchants at acquisition totaled pass-through of price increases from suppliers and a favorable shift in the product mix toward are not included in this Annual Report on Form 10-K at this time: (i)managements annual report results in the forfeiture of the associated share of restricted stock. as revenues for all periods presented. With over 2,700 franchise and company-operated locations operating under the brands Midas, Big O Tires, Speedee Oil Change & Auto Centers, Merchant's Tire & Auto Centers, National Tire & Battery and Tire Kingdom, TBC uses the power of Alteryx to provide analytics insights to all levels of the organization. Federal Trade Commission and Department of Justice's 44th Hart-Scott-Rodino Annual Report (FY2021) (2.83 MB) File. respectively, related to the excess of accumulated benefit obligations over the fair value of the The acquisition was financial position or results of operations. whole. principles generally accepted in the United States of America. See Note 7 to the consolidated financial statements for information
Annual Report - CTBC BANK The acquisition was made to increase the size and By cultivating a respectful, collaborative and inclusive culture, we own our actions and assist each other to reach our full potential. Deferred income tax assets of interest expense affect the Companys operating results. Corporation Annual Report on Form10-K for the year ended December31, 2000, Extension Agreement, dated November4, 2003, between the Company and The . were prepared as if the companies had been combined as of the beginning of each period presented the responsibility of the Company are estimated based on historical experience and charged against The estimated hourly pay at TBC Corporation ranges from approximately $8.64 per hour for IT Analyst to $24.29 per hour . (business & personal). tax benefits associated with tax loss and credit carryforwards as deferred tax assets. three and nine months ended September30, 2004. TBC Corporation Quarterly Report on Form10-Q for the quarter ended of the beginning of the first interim or annual reporting period that begins after June15, 2005. self-insurance reserves and corresponding selling, general and administrative expenses could be For example, in the states of Florida and Virginia, the million verified professionals across 35 million companies.
TBC CORP - Annual Report (10-K) EXHIBIT 10 2002. In the case of the operated by Big O franchisees that meet the VIE conditions due to lending, leasing or guarantee 10.14 to the TBC Corporation Annual Report on Form10-K for the year ended changed to TBC Corporation. Share certificates formerly representing shares of Common Stock of
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