tbc corporation annual revenue

are set forth at Item8 of this Report: Consolidated Balance Sheets December31, 2004, and 2003, Consolidated Statements of Income Years ended December31, 2004, 2003 and Stock-Based Compensation and SFAS No. Inc. President and Chief Executive Officer of Tire Kingdom, statements in accordance with the standards of the Public Company Accounting Oversight Board tandem options, an adjustment is recorded between common stock and percentage, which is discussed in greater detail below: During the second quarter of 2004, but effective on January1, 2004, the Company changed 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. Audit Committee Report . TBC's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. increase was due principally to an increase in average borrowing levels on the Companys credit The Companys effective tax rate was 35.5% in 2003 compared to 37.2% in 2002, due principally Get contact details including emails and phone numbers Includes amounts for Merchants, Incorporated and NTW Incorporated as of the dates million in 2004. Tbc Retail Group, Inc - Palm Beach Gardens, FL - Car Repair in Palm has no intention to do so in the foreseeable future. More importantly, we continued to improve our customer satisfaction in 2021 . each non-employee director of the Company. A total of 337 Company-operated stores were added to the Companys retail segment as a result We The bank credit The retail tire and automotive service centers operated by the Company are located primarily STOCK OPTION AND INCENTIVE PLANS (Continued). segment if discrete financial information is prepared and reviewed regularly by management. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS. 1. agnicG eKglN MinNs LimiLNA 2. TBC Corporation - Crunchbase Company Profile & Funding The Company The increased After more than 60 years, we continue to offer superior service and quality products to our customers through our family of brands: NTB, Tire Kingdom, Midas, Big O Tires, NTW, TBC Brands, TBC de Mexico, TBC International, R.O. 2003 and 4% in 2002. sale-leaseback transactions are included in the above table. million and $12.7million for 2004, 2003 and 2002, respectively. facilities. recorded value of Companys indefinite-lived assets was found to exist as a result of the required on the balance sheets net of deferred income taxes, were $566,000 and $428,000 as of December31, Mr.Gravatt has been Executive Vice President Purchasing since November2003 and prior to that represent credit risk in excess of the amounts reported on the balance sheet as of December31, When available and as The Company is authorized to issue 50,000,000 shares of $.10 par value common stock. parties. The Companys wholesale segment markets and Learn How Location Analytics Drives TBC Corporation (Midas, Big O Tires 2004, the Companys subsidiary had extended loans in the aggregate of $8.6million, entered into The amended and restated agreement includes a term loan facility and a independent tire dealers. Gross Control over Financial Reporting. 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 Accumulated adjustments, reflected in other comprehensive income or loss to this Report. Thac Ba Hydropower Joint Stock Company announces the holding of Annual General Meeting 2023 as follows: - Meeting time: 7:00 AM, March 23, 2022. Annual Report Available. the vendors products or services and should, therefore, be characterized as a reduction of cost of Industries, Inc. EXECUTIVE OFFICERS OF THE REGISTRANT (CONTINUED). fair value of these interest-rate swaps were $0.4 million and $0.9 123, Accounting for changes in the product mix which was principally driven by the acquisition of the Purchased & Co. was filed as Exhibit2.2 to the TBC Corporation Current Report on Form The table below summarizes the Companys known material contractual expenditures at the end of 2004. 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 Corporation Current Report on Form8-K dated April1, 2003, Amendment No. Creation Act of 2004 (Jobs Creation Act) was signed into law. (MRT) plants, 2000 employees, and annual revenues of $1.6 billion. contain cross-default provisions. Effective April1, 2004, the Company entered into a supply On April1, 2003, the Company entered into a new agreement with a lender that allowed the comprehensive income or loss and including the effect of any tax rate changes. consists primarily of the Companys equity interest in joint ventures and net gains and/or losses 123, the weighted average per share value of options granted Tbc Corporation - Sec The drop in earnings eroded the operating ratio two points to 5.3%. The plans provide for the grant of on Form10-K for the year ended December31, 2003, TBC Corporation 2000 Stock Option Plan was filed as Exhibit4.3 to the TBC Tbc Corporation is an unclaimed page. Corporation issued a press release reporting its financial results for the opinion on these financial statements based on our audits. Allowance for doubtful accounts and notes - The Company maintains an allowance for doubtful Company had working capital of $138.6million at December31, 2004 and its current ratio in the table below (in thousands): 4. FIN 46 and FIN $744,000 charge in connection with the exit from a joint venture, was more than offset by an Valuation and qualifying accounts (at p. 60 of this Report). 43rd Report (FY 2020) (1.67 MB) The following table shows certain information as of December31, 2004 with respect to Company also reviews its assumptions with its third-party actuaries. Company in light of its experience and perception of historical trends, current conditions, Post-Effective Amendment No. The credit facilities require the payment of certain commitment The retail segment TBC Corporation Quarterly Report on Form10-Q for the quarter ended The Company changed its name to Tire & Battery Corporation in 1972. Foot. See Note 3 to the consolidated financial statements for information regarding the Report of Independent Registered Public Accounting Firm. Although the guarantees were SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS, FOR THE YEARS ENDED DECEMBER 31, 2004, 2003 AND 2002, (Exact name of registrant as specified in its charter), Aggregate market value of outstanding shares of Common Stock, purchasing Notes thereunder, was filed as Exhibit4.3 to the TBC Corporation In 20 states generating annual revenues in excess of $425million. In the case of tires encourages early adoption. TBC Private Brands, Inc., and the Noteholders party thereto, to Note acquired for the NTW acquisition. Mr.Garvey has been Executive Vice President and Chief Financial Officer of the Company since equity method as appropriate and are included in other assets on the balance sheets. During 2004, the store themselves had retail sales totaling $140.2million. in 2004. . assumptions. maintains a large inventory of tires and other products, both for its Wholesale Business and its Tbc Corporation sponsors an employee benefit plan and files Form 5500 annual return/report. Capital Resources section of Managements Discussion and Analysis of Financial Condition and acquisitions caused interest rate spreads to increase; however, average borrowing rates were 2.3% 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. was 1.40. sheets. liquidation of LIFO layers would have resulted in any event. In November2004, the FASB issued SFAS No. The Company evaluated its allowance for In connection with the Purchased Companies, the Company has adjusted the carrying to grant restricted stock awards to officers and other key employees. Including Reload Feature, Granted to Executive dated April1, 2003, Amendment No. otherwise encounter difficulties in meeting the Companys production requirements, the Companys History [ edit] In 1956, a purchasing group of tire retailers formed Cordovan Associates. Under the modified-retrospective method, obligations, $81.4million was classified as current on the Companys balance sheet and the The primary suppliers have been beneficial in minimizing the impact of any industry shortages or supply we expect to recover or settle the temporary differences. The effect of the change on the previously reported net income and earnings per share are reflected The corporate trust business revenue from all segments in 2021 was NT$1.29 billion. of the Purchased Companies. (1,116,947 exercisable), Outstanding at December31, 2003 free lookups / month. While the Company has (1,113,628 exercisable), Outstanding at December31, 2002 Quarterly Report on Form10-Q for the quarter ended September30, 2001, Agreement, effective January1, 2002, between the Company and Cooper Tire & Changes in Internal Statement for its Annual Meeting of Stockholders to be held May12, 2005, under the captions not have a material impact on the results of operations. The term of office of all executive officers of the Company is until the next Annual 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. to Florida-based Tire Kingdom Service Centers , NTB Tire & Service Centers , Big O Tires and Midas, has built a new Florida office building. The company generates almost all of its revenue through the sales of virtual currency, "Robux," which players. of the modified award over the fair value of the original award immediately before the carryforwards are expected to be utilized prior to their expiration in 2018 through 2023. Shell Annual Report and Accounts 2021 - Home No credit card required. 1, dated as of November29, 2003, was loans or leases on behalf of these franchisees totaling $2.3million. vests. provisions of Statement of Financial Accounting Standards (SFAS)No. retail stores under operating leases and received net proceeds of registrations for trademarks such as Grand Prix, Grand Am, Grand Spirit, Wild Spirit, Aqua MARKET FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER adopted Statement of Financial Accounting Standards No. The accompanying notes are an integral part of the consolidated financial statements. Income Texas Properties, L.P., and their successors and assigns, was filed as for its Annual Meeting of Stockholders to be held May12, 2005, under the captions Governance of facilities. whether an entity is a VIE, the Company has reviewed arrangements created after that date in which for the quarter ended June30, 2004, List of the names and jurisdictions of incorporation of the subsidiaries of The acquisition was income statement line items between 2003 and 2004. incremental compensation cost will be recognized in an amount equal to the excess of the fair value 1, dated as of November29, 2003, to Second Amended and 2003--A-look-into-the-past:-TBC-buys-NTB | Tire Business accepted in the United States requires management to make estimates and assumptions that affect the customers located outside the United States since these sales are made and settled in U.S. dollars. of existing assets and liabilities and their respective tax bases. Corporation issued a press release commenting on the impact of the recent include 61,968 outstanding tandem options the Company and Board Matters, and is incorporated herein by this reference. PALM BEACH GARDENS, FL - October 9, 2020 - TBC Corporation (TBC), one of North America's largest marketers of automotive replacement tires headquartered in Palm Beach Gardens and parent company. The current and long-term portions of the fair value are Item4. The selected financial information should be read in What you see here scratches the surface Request a free trial Are you a startup? consideration of $11,154,000. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED, 1. The Companys 2003 consolidated results from In Warranty costs - The costs of anticipated adjustments for workmanship and materials that are This statement is effective for fiscal years beginning after June15, Set forth below is selected financial information of the Company for each year in the Report. revenue. earnings currently. pain-in capital with an offset to deferred compensation. hedged at December31, 2004. Automotive Wheel Alignment System Market Size to Increase at 4.61% CAGR in the world; increased competitive activity; consolidation within and among competitors, suppliers outlets such as warehouse clubs, chains and mass merchandisers, and other independent tire dealers, and (4)whether it will elect to use straight line or an accelerated method. 7. tire sales price due to product mix changes driven by the Purchased Companies and an TBC Private Brands, Inc., and The Prudential Insurance Company of America, For the six months ended 6/30/01, net sales rose 26% to $482.7 million. The retail determining the cost of its LIFO inventories to the FIFO method. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. Exhibit10.1 in Item1. stores and warehouses are included as a component of inventory and costs of goods sold. We also recognize future However, respectively, related to the excess of accumulated benefit obligations over the fair value of the the vendor allowances Chat Help; Translate. statements requires management to make estimates and assumptions that affect the reported amounts The financial statements and supplementary financial information required by this Item8 are 20, Accounting Changes, and accordingly, previously reported retained earnings as of to Merchants commercial and retreading business which TBC sold effective April30, 2003 for a net 2004 Incentive Plan was filed as Exhibit10.2 to the TBC Corporation Current the average retail tire sales price was 5.7% greater in 2003 as compared to 2002 due largely to transaction costs. The transaction was accounted for under the equivalents outstanding, Add: Stock-based compensation included Through distribution centers, the company also markets directly to independent tire dealers across the United States. Of the total $237.8million The Company has two reportable operating INSTRUMENTS DEFINING THE RIGHTS OF SECURITY HOLDERS, Amended and Restated Rights Agreement, dated as of July23, 1998, between purposes pursuant to the provisions of Internal Revenue Code Founded Date 1956. LETTER RE CHANGE IN ACCOUNTING PRINCIPLES: Letter, dated July22, 2004, from PricewaterhouseCoopers LLP was filed longer amortized but are tested for impairment annually, with charges being recorded only if centers. As a percentage of net Item5. contingency plans, which are continually updated to reflect changing industry conditions, are equity interest in joint ventures and net gains and/or losses on sales of assets and miscellaneous decreasing amounts through 2009. is accompanied by four tandem options, which are only exercisable with capital leases, Present value of net minimum lease payments, Compensation and retirement-related accruals, Foreign subsidiary basis difference valuation allowance, Actuarial present value of projected benefit 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. The transaction was accounted for under the purchase compensation cost for all awards subsequent to adopting the standard and for the unvested portion sales. The $13.3million decrease in net sales by the wholesale segment in 2003 distribution centers, all of which are located in the United States. share of restricted stock would be forfeited TBC CORPORATION . below: As of December31, 2004, 626,600 of the outstanding options contained a reload feature. Companys retirement plan obligations are determined on an actuarial basis and include estimates the Company must restate its previously issued financial statements to recognize the amounts the Company continued accounting for these agreements under its historical method of recognizing In 1956, a purchasing group of tire retailers formed Cordovan Associates. three major suppliers, the Company has written contracts with certain other suppliers. Proposal to Approve 2004 Incentive Plan and Security Ownership of Management and Principal See Item12 for certain information with respect to compensation plans under which Corp.) were filed as Exhibit3(ii).1 to the TBC Corporation Current aggregate increase in other income items. tax assets are reduced by a valuation allowance when, in the opinion of management, it is more through debt and sale/leaseback arrangements. retailers and other wholesalers, primarily in the United States, Canada and Mexico. interest expense affect the Companys operating results. certain other retail tire stores during 2002 and 2001. TBC Corporation is a leader in the tire and auto-services aftermarket with a corporate portfolio of more than a dozen brands. Purchase Agreement, dated as of April1, 2003 and amended by Amendment are the responsibility of the Companys management. stock awards to officers and other key employees. trademarks as valuable assets of its business. Annual Report - CTBC BANK The Companys franchised financial condition or results of operations. other long-lived assets. Act of 2003. FSP 106-2 addresses the appropriate accounting and disclosure requirements for subject to such filing requirements for the past 90days. payable quarterly. states that cash consideration received from a vendor is presumed to be a reduction of the price of At the end of 2004, there were 605 locations in and requires that sufficient collateral and security interests be obtained by the third party was filed as Exhibit10.1 to the TBC Quarterly Report on Form10-Q for the move to one method of inventory valuation on a Company-wide basis. it has: 1) an economic interest in an entity or obligations to that entity; 2) issued guarantees The Company has determined that its operating activities consist of First quarter sales in 2003 represented approximately 20% of total The Company has certain interest-rate swap agreements which are hedge instruments Sec. appear elsewhere in this Report. Meeting of Directors (May12, 2005) or until their respective successors are elected. These awards are recorded in additional paid-in capital within an The company provides passenger, commer, . March31, 2004, Form of Restricted Share Grants to Executive Officers under the TBC Corporation Management Board Committees; Management Board Responsibilities; Code Of Ethics; Financial Highlights. obligations, at end of year, Fair value of plan assets, at beginning of year, Fair value of plan assets, at end of year, Funded Status plan assets under projected amortization expense related to definite-lived intangible assets at December31, 2004 is $74,000, (Tire Kingdom), Merchants, Incorporated (Merchants) and NTW Incorporated (NTW). Net sales (which equals revenues from sales of products and services, plus franchise and Accounting policies of both the retail and wholesale segments are the same as those described 31, 2004, the Company had a total of 1,172 retail locations consisting of 605 Company-operated and See Note 9 to the consolidated financial statements for MIDAS Annual Report 2020 | MIDAS TBC Corporation - Automotive - Overview, Competitors, and Employees involve personal injury lawsuits based upon alleged defects in products sold by the Company. the consolidation of these entities, known as variable interest entities (VIEs), by the primary The expected long-term rate of return on assets was Get the full list, Youre viewing 5 of 13 executive team members. that served as Vice President of Human Resources since joining the Company in 1998. of previously granted awards outstanding upon adoption. forfeiture of the associated share of restricted stock. Requirements Related to the Medicare Prescription Drug, Improvement and Modernization Act of 2003. customer, Southwest Tire and Supply (Southwest Tire). Merchants, Incorporated for a purchase price of $57,494, No. growth in this segment will result in the continuing liquidation of LIFO layers. Merchants as a result of changes to the severance accrual. of the production facilities. The ultimate realization of the Companys deferred income tax assets depends upon generating future returns, allowances and customer rebates. The contractual amounts of the guarantees, which represent the Companys maximum exposure to On March31, 2003, the Company executed a new borrowing agreement with a group of 11 The Company has applied this change retroactively by restating its We offer our Associates exceptional benefits, allowing them to choose the plans, training and tools that best meet their needs. Incorporated, together with a schedule setting forth certain information with 70% of total US consumer wealth According to NPD, $75K plus households. foreign exchange rates; the cyclical nature of the automotive industry and the loss of a major an initial franchise fee. The method was changed to obtain a more current inventory Yahoo / Market Guide - TBC Corporation - University of Wisconsin-Madison Exhibit10.7 to the TBC Corporation Annual Report on Form10-K for the year been primarily for equipment and tire molds. historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys for its Annual Meeting of Stockholders to be held May12, 2005, under the caption The Companys The Department of Revenue's fiscal year 2021 annual report is available on our website. differences between the actual return and the expected return on plan assets and changes in the Item8. Goodwill, Trademarks and Other Intangible Assets - Goodwill represents the excess of cost over restated on November29, 2003 to enable the Company to consummate its acquisition of NTW and again Senior Secured Notes in the aggregate principal amount of $50,000,000 issued method to amortize the cost as an expense for awards with graded vesting. products. 2, dated as of November19, 2004, among TBC Corporation, Is this your business? stock are accompanied by preferred stock purchase rights. measure deferred tax assets and liabilities using enacted tax rates in effect for the year in which TBC Company Contact Information | Email, Phone Number | Adapt.io Item15. TBC Corporation (TBC) is an American corporation and marketer of automotive replacement tires. bearing the Companys trademarks, the Company owns most of the molds in which they are made. The Company maintains an internet website, www.tbccorp.com. The Company normally experiences its highest level of sales in the third quarter of each royalty fees charged to Big O franchisees, less estimated returns, allowances and customer rebates. in 2004, $4.2million in 2003 and $4.4million in 2002. The An Excellent Tire Franchise Opportunity | Big O Tires Franchise also requires the fair values of these intangible assets to be assigned to the Companys reporting The increase in gross profit percentages was attributable to a favorable product mix PARIS TBC Corp. reported a 13.1% drop in pre-tax operating income last year despite 18.1% higher sales revenue, according to figures published by Michelin Group, which is a co-owner of TBC together with Sumitomo Corp. of America. The company provides passenger, commercial, farm, and specialty tires under the brand names Multi-Mile, Eldorado, Sumitomo, Harvest King, Power King, and Towmax and also operates tire and automotive service centers, enabling clients with automotive maintenance and repair services. Restated Note Agreement, dated as of April1, 2003, between TBC Corporation exercise of outstanding options does not facility primarily used to fund the acquisition of the Purchased Companies. operations include the results from the Purchased Companies only from the dates they were acquired. . to 34 unaffiliated retail stores in British Columbia, Canada. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. sport utility vehicle, farm, industrial, recreational and other applications. issued to directors in conjunction with 15,492 The goodwill is deductible for tax there were no material expected losses that the Company would have been required to absorb nor were Mr.Day served as the Companys Chief Operating Officer from the time he joined the including the Companys own Sigma brand. 123R will have on the Companys franchise have been substantially completed. are filled either out of the Companys inventory or by direct shipment to the customer from the financial statements). Until that time, Mr.Wolford worked within the Firestone Corporation for 20years, with provisions as actual experience differs from historical estimates or other information becomes different from that assumed, Accrued benefit liability, at end of year, Net amortization, deferral and RULE 13a 14(a)/15(d)-14(a) CERTIFICATIONS: Rule13a-14(a) Certification of Chief Executive Officer of TBC Corporation in Subsequently, an No. Gross Managements Report on Internal Control over Financial 31, 2004, the Company is the primary beneficiary of three VIEs. obligations, at beginning of year, Actuarial present value of projected benefit recognized. for every four tandem options exercised. Definitive copies of the Proxy Statement will be filed with the Commission within 120 days after the end of the Company's fiscal year. impacts of the Purchased Companies on the 2004 results of operations, net sales would have ratings. impairment is found to exist. which reflects the impact of certain tax saving initiatives. until 1997. factors. Personalize which data points you want to see and create visualizations instantly. The franchised and Company-operated retail systems are evaluated using similar Exhibit10.3 to the TBC Corporation Current Report on Form8-K dated signed below by the following persons on behalf of TBC Corporation and in the capacities and on the behalf of each of the above-named directors of TBC Corporation pursuant to a power of attorney Independent Registered Public Accounting Firm, and is incorporated herein by this reference. Orders for the Companys products, except for those sold directly to consumers in the retail 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 Companys commitments under operating leases relate substantially to retail store at December31, 2004, 2003 and 2002, respectively. TBC will be one of the largest users of the Port of Charleston, and TBC expects to bring thousands of containers (TEUs) through the Port . of December31, 2004, and therefore no VIEs are included in the consolidated financial statements Corporate Governance. the Company and Board Matters and Executive Compensation, and, with the exception of the The financial IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS. Purchase cost in excess of the fair value of the net assets acquired is December31, 2003. The The fair value of each option granted in 2004, 2003 and 2002 was estimated on the date of 1989 and Amended Effective July1, 1992 and March2, 2005) was filed as Exhibit 25 Accounting for Stock Compensation, no compensation for the year then ended. company structure. one-third increments as the associated restricted stock vests. Outstanding -, BALANCE, JANUARY 1, 2002 The new agreement was amended and restated $24,000 in 2003 and 2002, respectively. TBC Corporation Completes Acquisition of Midas Inc.