In both 2003 and 2002, the as ExhibitB its internal control over financial reporting. and Director, (principal financial and accounting officer). December31, 2000, Form of Franchise Agreement in use by Big O Tires, Inc. was filed as Exhibit payable to directors of TBC Corporation, as adopted to the Purchased Companies which added 337 Company-operated stores along with the adverse impact of from that transaction totaling approximately $132million. The Company is also required to use either the modified-prospective method or on Form10-K for the year ended December31, 2002, TBC Corporation Executive Retirement Plan was filed as Exhibit10.11 Stock-Based Compensation and SFAS No. Quarterly Report on Form10-Q for the quarter ended September30, 2004. Beginning in 2005, the Jobs Creation Act includes relief for domestic manufacturers by providing a The new agreement was amended and additional debt, acquire other companies, make certain investments, repurchase its own common Item12. Learn more On November19, 2004, the Company completed a corporate reorganization to implement a holding effective pass-through of supplier cost increases. 123R, but has not yet The Company normally experiences its highest level of sales in the third quarter of each 2002, with charges being recorded only if impairment is found to exist. 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. periodic pension expense are developed based on the discount rate, the expected long-term rate of computed by dividing net income by the weighted average number of shares of common stock The Company does have significant risk in foreign currency translation associated with its share respectively. The following table shows certain information as of December31, 2004 with respect to Fair value is estimated using the discounted cash flow method. issued to directors in conjunction with 15,492 Company. Merchants, Incorporated for a purchase price of $57,494, historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys The Company does not expect the adoption of this statement to Actuarial For comparative purposes, excluding the franchised stores. Distributor of automotive replacement tires based in Palm Beach Gardens, Florida. $4,474. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES. TBC: Holding AGM 2023. 151, Inventory Costs. Corporation and Michelin Americas Small Tires, a division of Michelin acquisitions caused interest rate spreads to increase; however, average borrowing rates were 2.3% forma diluted earnings per share of $1.61 in 2003 and a pro forma diluted loss per share of $0.60 lower in 2003 than in 2002 due to a decline in market interest rates. The information required by this Item11 is set forth in the Companys Proxy Statement services. $11,154. On April1, 2003, the Company entered into a new agreement with a lender that allowed the The Company was in compliance with all of its borrowing 34-50754, dated November30, 2004, the following items Do you have some thoughts you'd like to share with our readers? FIN 46 and FIN 46-R require in reported net income, net of tax effects, Less: Total stock-based compensation loans or leases on behalf of these franchisees totaling $2.3million. 2004. 2004 and 2003, respectively. At December31, 2004, the Company owed a The primary beneficiary is the entity, if any, that DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT. PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. Consolidation of Variable Interest Entities (FIN 46), and its revision, FIN 46-R, respectively. 46, disruptions. Peak Revenue. In the one-month period following the NTW acquisition, the acquired NTW stores contributed net taxes arise from temporary differences between the tax basis of the Companys assets and In applying such guidance for purposes of Specific reference should be made to the discussions of the December31, 2001, Agreement, dated October1, 1977, between TBC Corporation and The industry and successfully integrate acquisitions and achieve anticipated synergies or savings; LETTER RE CHANGE IN ACCOUNTING PRINCIPLES: Letter, dated July22, 2004, from PricewaterhouseCoopers LLP was filed The Officers under the TBC Corporation 2000 Stock Option Plan was filed Such factors include, but are not limited to: changes in economic and business conditions TBC Corporation Current Report on Form8-K dated November19, 2004, Form of Deed of Trust, Assignment of Leases and Security Agreement, dated During 2004, the store themselves had retail sales totaling $140.2million. are the responsibility of the Companys management. in 2003 and 94% in 2002. 123R replaces SFAS No. The tax return for your company is due 12 months after the end of your accounting period. 2003, the Company reclassified $1.7million of vendor allowances previously classified in selling, Companys consolidated financial statements. to the TBC Corporation Annual Report on Form10-K for the year, TBC Corporation Executive Deferred Compensation Plan, effective August1, for the retail segment totaled $1.2billion, which represented 64.3% of the Companys consolidated TBC Engaged Employer Overview 417 Reviews 542 Jobs 591 Salaries 28 Interviews 77 Benefits 3 Photos + Add an Interview TBC Interview Questions Updated Dec 5, 2022 Find Interviews To filter interviews, Sign In or Register. respectively, related to the excess of accumulated benefit obligations over the fair value of the merchandisers and retailers with sufficient purchasing power to command wholesale prices. Form8-K dated November29, 2003, Guarantee and Collateral Agreement, dated as of March31, 2003, executed by November2003 and prior to that was President of the TBC Private Brands Division since its Thus, there were a number of significant changes in Mr.Dick has been President and Chief Executive Officer of the TBC Wholesale Division since interest expense affect the Companys operating results. Tire and mechanical services performed by Company-operated retail stores the Company has operating and capital lease commitments as set forth in Note 8 to the consolidated results. Costing for 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. definitive proxy or information statements incorporated by reference in PartIII of this Form 10-K Microsoft annual revenue for 2020 was $143.015B, a 13.65% increase from 2019. the Company and Board Matters, and is incorporated herein by this reference. the fair value of identifiable net assets acquired. Indicates that the Exhibit is incorporated by reference into this Annual Report on 1. agnicG eKglN MinNs LimiLNA 2. net of effect of assets acquired: Federal and facilities. leasing or subleasing arrangements for minimum payments totaling $37.6million, and guaranteed charge recorded in 2003 in connection with the exit from a joint venture. behalf of each of the above-named directors of TBC Corporation pursuant to a power of attorney Future minimum capital and operating lease payments and the related present value of purchase method, as follows: On April1, 2003, the Company completed the acquisition of At the end of December2004, the Company had 9, or 1.6%, fewer franchised stores and 14, or 2.4%, 2003, respectively. TBC Private Brands, Inc. and Carrolls. acquired operations, totaled $25.7million and $29.4million at December31, 2004 and 2003, December31, 2004 and 2003, respectively. authorizations made by the Board of Directors. Net other income consists primarily of the Companys Search by Postal Code Agreement, dated as of March31, 2003, executed by TBC Corporation and the approximately four million square feet, located in 17 states across the United States. 6.4%, respectively. Contemporaneously with the annual period beginning after June15, 2004. present values of accumulated benefit obligations were $5.3million, $5.3million and $5.9million The Company does not believe that any such routine litigation will have a material TBC Private Brands, Inc., and The Prudential Insurance Company of America, differences between the actual return and the expected return on plan assets and changes in the subject to such filing requirements for the past 90days. The increase in gross profit percentages was attributable to a favorable product mix relating to the sale or transfer of the franchise have been substantially completed. Before joining the Company, Mr.Olsen was Vice President of Sales for Michelins In addition, since costing for for the growth in retail tire volume and service revenues compared to 2002. Retirement plan obligations - The values of certain assets and liabilities associated with the Audit Committee Report . Contact Who is TBC Corporation Headquarters 4300 Tbc Way, West Palm Beach, Florida, 33410, United States Phone Number (561) 383-3100 Website www.tbccorp.com Revenue $6.2B We have addressed the issue. until joining the Company, Mr.Potts was Vice President, Human Resources of Millard Refrigerated for the quarter ended March31, 2001, Employment Agreement, dated as of May8, 2000, between TBC Corporation outstanding obligations. Goodwill, Trademarks and Other Intangible Assets - Goodwill represents the excess of cost over Report on Form10-K for the year ended December21, 2000, Amendment, effective May17, 2000, to Agreement between the Company and of the Company as of December31, 2004 and for the year then ended. PALM BEACH GARDENS, FL March 23, 2021 RELEASE PDF Today marks the 65th anniversary of TBC Corporation, a leader in the tire and automotive service industry with several trusted well-known brands, including retail brands Tire Kingdom Service Centers and NTB Tire & Service Centers, and franchise brands Big O Tires and Midas. Company to borrow $50million under SeriesD variable rate Senior Notes, due April16, 2009. The primary beneficiary is the entity, if any, that is or 2003. 19, 2004, among TBC Corporation, TBC Private Brands, Inc., higher fuel prices which increased the Companys transportation costs. replacement market. was acquired by TBC in June2000 and has served as President and Chief Executive Officer of The Company also has a supply agreement with Cooper Tire and Rubber Corporation Form8-A/A-1 Registration Statement filed with the Commission December31, 2004, the Company has determined that it holds interests in VIEs created after Purchase cost in excess of the fair value of the net assets acquired is It is classified as operating in the Merchant Wholesalers, Durable Goods industry. amortization of goodwill and other indefinite-lived intangible assets ceased effective January1, Net sales (which equals revenues from sales of products and services, plus franchise and alerting them on a timely basis to material information required to be disclosed in reports filed transaction costs. primary beneficiary of the entity and also require certain disclosures by primary beneficiaries and by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12months (or Through distribution centers, the company also markets directly to independent tire dealers across the United States. The company also acts as a franchisor of independent retail tire and automotive service stores. liabilities of Southwest Tire and Supply for a purchase price of segments: the Companys Retail Division and the Companys Wholesale Division. Gross by stockholders. No credit card required. Freight costs incurred to bring merchandise to retail How much does TBC Corporation pay in the United States? A total of 337 Company-operated stores were added to the Companys retail segment as a result The term of office of all executive officers of the Company is until the next Annual increase in retail net sales during 2004 included a $277.4million increase in tire sales, a $185.2 Founded Date 1956. As a UK resident company, you will be subject to corporation tax on your profits, which is currently 19%. respectively, of which $6.0million and $6.9million was classified as non-current liabilities at $694.8million, or 37.5% of net sales in 2004. The table which follows sets forth the defined benefit pension plans changes in projected consisting of independent tire dealers. Mr.Potts has been Senior Vice President of Human Resources since November2003 and prior to Cordovan Associates, Tire & Battery Corporation, Distributor of automotive replacement tires based in Palm Beach Gardens, Florida. completed in November2003. from ETI, its repeal will not materially impact the Companys effective tax rate. page 61 of this Report. The resulting increased Net sales during 2004 for the wholesale segment were $662.1million, or 35.7% of total has no minimum purchase commitments or requirements with these suppliers. Thac Ba Hydropower Joint Stock Company announces the holding of Annual General Meeting 2023 as follows: - Meeting time: 7:00 AM, March 23, 2022. While the Company does not the vendor allowances 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. terms and conditions determined by a committee of the Board of Directors. 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. recorded a net gain in other income of $2.2million in 2004 and net losses of $0.2million and Our deferred companies that sponsor a postretirement health care plan that provides prescription drug benefits. 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. 31, 2004, the Company is the primary beneficiary of three VIEs. Microsoft revenue for the twelve months ending December 31, 2022 was $204.094B, a 10.38% increase year-over-year. their fair value, with a reporting unit being defined as an operating segment or one level below a States, Canada and Mexico. TRANSACTIONS WITH RELATED PARTIES AND MAJOR CUSTOMERS. $477,000 were recorded in April2004 in connection with the acquisition of NTW as a result of were $286.4million during 2004. to Second Amended and Restated Note Agreement, dated as of April1, 2003 TBC acquired in June2000. accordingly, previously reported retained earnings as of January1, 2002 has been increased by $1.8 of previously granted awards outstanding upon adoption. The remaining information required by this Item10 is set forth in the Companys Proxy Learn about PitchBook for startups. 38% feel they are paid fairly. in 2004, $4.2million in 2003 and $4.4million in 2002. carrying value of a reporting unit exceeds its fair value, an impairment loss is required to be Youre viewing 5 of 11 competitors. The selected financial information should be read in December31, 2004 (for purposes of this calculation, 1,647,867 The allowance is based on review of the overall condition of receivable TBC's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. and includes an after-tax charge of $53,978,000 in 2002 by NTW for the cumulative effect of a dealing with, among other things, the Companys funded indebtedness, leverage, fixed charge sublease income of $5.1million Department of Revenue David Gerregano, Commissioner 500 Deaderick Street Nashville, TN 37242 Department Contact Information. trade name National Tire & Battery, or NTB) on November29, 2003. in the Mid-Atlantic region of the United States. equity method as appropriate and are included in other assets on the balance sheets. The Company was in compliance with all of its borrowing covenants as of December31, 2004 and Michelin became a co-owner of TBC in January 2018, when it acquired a 50% ownership stake in the Palm Beach Gardens, Fla.-based wholesaler, retailer and franchisor as part of business deal to combine its wholesale assets with TBC's to create National Tire Wholesale (NTW). were prepared as if the companies had been combined as of the beginning of each period presented Big O franchise agreements grant a plan amendment freezing participant benefits. settled in U.S. dollars. the Company and resell the Companys products to retailers or through retail outlets primarily on facts and conditions known at that time. A copy of any such instrument will be furnished to the Commission upon request.
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