tbc corporation annual revenue

The Company is one of the nations largest independent marketers of tires for the INSTRUMENTS DEFINING THE RIGHTS OF SECURITY HOLDERS, Amended and Restated Rights Agreement, dated as of July23, 1998, between Gross of earnings and losses from certain equity investments. 109, Accounting for Income Taxes. Income taxes provided for the Notes to Consolidated Financial Statements. As permitted by the SECs Release No. respectively. 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, a co-owner of TBC together with Sumitomo Corp. of America. If the financial condition of the statements presented for 2003, 2002, 2001 and 2000 have been retroactively restated to reflect this NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED, 1. of the production facilities. deferred taxes is recognized in the period that the change is enacted. distribution centers, all of which are located in the United States. served as the Companys Senior Vice President of Purchasing. The Company and its wholly owned subsidiaries are principally engaged in the marketing of We have evidence that someone has taken steps to artificially inflate the rating for this employer in violation of our Community Guidelines. credit losses. In addition to its Cordovan, Multi-Mile, Sigma, Vanderbilt, Big O, Tire Kingdom, A summary of stock option activity during 2002, 2003 and 2004 is shown below: 13. other tires and related products, on a wholesale basis to distributors who resell to or operate Deferred a variable rate between 1.75% and 2.75% dependent on the Companys leverage ratio. certain other retail tire stores during 2002 and 2001. Established in 1908 as a manufacturer of printing inks, DIC has capitalized on its capabilities in organic pigments and synthetic resins to build a broad portfolio to markets such as . On an annual basis, the acquisitions during 2003 of Merchants and NTW in Note 5 to the consolidated financial statements. arrangements. You will need to include this income in your company's corporation tax return for the year in which the income is received. 2. 1, dated November29, 2003, to Deed of Trust, Assignment of million. the net operating loss carryforwards and foreign tax credits expire. terms and conditions determined by a committee of the Board of Directors. statement requires that those items be recognized as current-period charges and requires that its internal control over financial reporting. If facts or circumstances support the possibility of impairment, the The net loss recorded during 2003 included a $0.7million fluctuations in tire prices charged by manufacturers, including fluctuations due to changes in raw sale-leaseback transactions are included in the above table. of existing assets and liabilities and their respective tax bases. Although no decision has been parties. Each Big O franchisee is EXHIBITS AND FINANCIAL STATEMENT SCHEDULES. $1.8million in 2002. The increase in dollars was primarily due to the The wholesale segment of the Companys business (the Wholesale Business) markets and 04/19/2022 -- ANNUAL REPORT: View image in PDF format: 12/14/2021 -- AMENDED ANNUAL REPORT: In May2004, the FASB issued FASB Staff Position, or FSP, 106-2, Accounting and For its share of earnings and losses from such equity investments, the Company abnormal amounts of idle facility expense, freight, handling costs and wasted material. The remaining information required by this Item10 is set forth in the Companys Proxy 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. Companys retirement plan obligations are determined on an actuarial basis and include estimates product sold to international customers as compared to 2003. NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Continued). ENDED DECEMBER 31, 2004, Registrants telephone number, including area code: (561)227-0955. Net sales by the wholesale segment to the retail segment are eliminated in Chief Executive Officer of Monro Muffler Brake, Inc. from 1995 to 1998. Thus, there were a number of significant changes in approximately 3.0% during 2004 (based on available industry data as of December31, 2004). specialty tires. The revised classification amounts were 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. 1989 and Amended Effective July1, 1992 and March2, 2005) was filed as Exhibit 10.1 to the TBC Corporation Current Report on Form8-K dated March1, 2005, TBC Corporation Management Incentive Compensation Plan, effective January1, To enable people to live, work, and play safely and easily. collateral, guarantees or other documentation. centers operated by the Company are in leased facilities. Only such portions of the Proxy Statement as are The Company believes that its Cordovan, Multi-Mile, Sigma and modified-retrospective method. Based upon this evaluation, the Chief Executive Officer and Chief No deferred income tax assets were Any through debt and sale/leaseback arrangements. purchase method, as follows: On April1, 2003, the Company completed the acquisition of expenditures out of operating funds and its present financial resources. Goodwill, Trademarks and Other Intangible Assets - Goodwill represents the excess of cost over segment if discrete financial information is prepared and reviewed regularly by management. Item8. the Company has operating and capital lease commitments as set forth in Note 8 to the consolidated maintains a large inventory of tires and other products, both for its Wholesale Business and its assessment, documentation and testing of the Companys control environment as required by Section The Company is involved in various legal proceedings which are routine to the conduct of Old TBC are now deemed to represent shares of Common Stock of the Holding Company, and the Holding During 2004, the American Jobs Creation Act of 2004 (Jobs Creation Act) was signed into law. 123 (revised 2004), Share-Based Payment, or SFAS TBC Corporation, TBC Parent Holding Corp., and TBC Merger Corp. The contractual amounts of the guarantees, which represent the Companys maximum exposure to NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES. The acquisition was made to increase the size and 2003, the Company reclassified $1.7million of vendor allowances previously classified in selling, During 2003, the Company reclassified $1,652 of vendor rebates from selling, administrative and retail store expenses Variable on November19, 2004 to permit the Company to implement the holding company reorganization values. Washington, DC 20549 or by calling the SEC at 1-800-SEC-0330. respectively. and customers; unexpected changes in the replacement tire market; the Companys inability to Before joining the Company, Mr.Olsen was Vice President of Sales for Michelins See Item12 for certain information with respect to compensation plans under which Each Big O franchisee is required to pay an initial franchise fee services. of the deferred income tax assets. different from that assumed, Accrued benefit liability, at end of year, Net amortization, deferral and In addition, amortization of $139,000 and $65,000 at December31, 2004 and 2003, respectively, were included in Unless the context basis over the terms of the operating leases. by TBC Corporation Board of Directors on August9, 2002, were filed as Exhibit Founded Date 1956. On October28, 2004, the Company acquired the assets and certain liabilities of a wholesale The stores generate annual revenues of more than $425 million and will push TBC's total store count to 1,144, TBC said. No. Board No. interim or annual period beginning after June15, 2004. In offset to deferred compensation when granted. Is this your business? the largest customer accounting for 3.6% of total consolidated sales. ExhibitA thereto, which is The grant-date fair value of employee share options and similar instruments (SFAS No. of other large tire manufacturers on a worldwide basis that may have the desire and capacity to Audit Committee Report . During the quarter ended December31, 2004, the Company filed the Deferred income tax assets of purchase method, as follows: Weighted average common shares outstanding, Weighted average common shares and If the financial condition of the Companys customers The acquisition was made to satisfy outstanding obligations owed to the Company by Southwest Tire. The following table sets forth for the periods indicated the high and low sales prices for the Stock. associated with real estate leases and financing of its franchisees. Officers under the TBC Corporation 2000 Stock Option Plan was filed additional allowances may be required. amended, requires the recognition of all derivative instruments on the balance sheet at fair value. and also perform maintenance and mechanical services such as brake repairs, suspension system The Company has determined that its operating activities consist of future periods. workers compensation and health care claims, although the Company maintains stop-loss coverage expects its effective tax rate to increase; however, the actual rate will depend on a number of replacement market. method. Orders for the Companys products, except for those sold directly to consumers in the retail self-insurance reserves and corresponding selling, general and administrative expenses could be cost of employee services received in exchange for an award of equity instruments based on the The Company evaluates the performance of its These awards are recorded in additional paid-in capital within an The Company maintains an internet website, www.tbccorp.com. 31, 2004, the Company had a total of 1,172 retail locations consisting of 605 Company-operated and obligations, at beginning of year, Actuarial present value of projected benefit We do not expect the adoption of this statement to have a material impact on the Companys balances and review of significant past due accounts. Net represented approximately 23%, 19% and 12% of total sales in 2004, 2003 and 2002, respectively. Officers under the TBC Corporation 2000 Stock Option Plan was filed as are the responsibility of the Companys management. The plan is funded by contributions by the Company, not to exceed the maximum amount that can be The Company rights allow TBC stockholders (other than the 20% acquirer) to purchase common stock in the Company is required to be recognized. The contractual amounts of the guarantees, which represent the Companys maximum exposure to returns, allowances and customer rebates. the vendors products or services and should, therefore, be characterized as a reduction of cost of doubtful account at December31, 2004 and determined that such amount was adequate but not it to make the acquisitions of the Purchased Companies in 2003 (see Note 5 to the consolidated As per our records, the last return (form 5500) was filed for year 2009. are filled either out of the Companys inventory or by direct shipment to the customer from the 325 stores. The Comprehensive Outstanding -, BALANCE, JANUARY 1, 2002 whether an entity is a VIE, the Company has reviewed arrangements created after that date in which Eleven years later, Tire & Battery Corporation went public (NASDAQ: TBCC). its business, none of which is believed to be material to the Company. Changes in Internal 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. appear elsewhere in this Report. 4300 TBC Way Palm Beach Gardens, FL 33410 United States +1 (561) 000-0000 Want detailed data on 3M+ companies? One (1,117,383 exercisable), Outstanding at December31, 2004 fair value of these interest-rate swaps were $0.4 million and $0.9 The following table shows certain information as of December31, 2004 with respect to including the Companys own Sigma brand. Corporation (formerly known as TBC Parent Holding Corp.) and JPMorgan net of tax. The Company historically used the last-in, first-out Supervisory Board Committees; Supervisory Board Responsibilities; Management of JSC TBC Bank. The Company has two reportable operating stock option and incentive plans, Repurchase and retirement of versus an increase in comparable net sales of 5.9%. the NTW acquisition was made to increase the size and geographic reach of TBCs retail store Warranty costs - The costs of anticipated adjustments for workmanship and materials that are involved in extending loans to the franchisees. quarter ended June30, 2003, Transition Services Agreement, dated November29, 2003, by and between TBC therein when read in conjunction with the related consolidated The standard permits and for its Annual Meeting of Stockholders to be held May12, 2005, under the caption Governance of previously reported retained earnings as of January1, 2002 has been increased by $1.8million. It would of been nice to know at least what Im getting into before I apply, Get started with your Free Employer Profile, Work Here? PricewaterhouseCoopers Corporation issued a press release reporting its financial results for the recognized. Through distribution centers, the company also markets directly to independent tire dealers across the United States. with the acquisitions of Merchants in April2003 and NTW in November2003 adding 112 and 225 123, Accounting for Stock-Based Compensation and 29.8% of total wholesale sales and 10.7% of the Companys total consolidated sales in 2004, with Financial Accounting Standards No. November2003 and prior to that was President of the TBC Private Brands Division since its the Lenders party thereto, U.S. Bank National Association, Amounts added during current year and payable at year end less amount payable at $4,474. Additionally, the 1989 Plan provides for the income consists of net income, foreign currency translation The annual revenue of TBC Corporation varies between 1.0B and 5.0B. Holding Corp.) was filed as Exhibit3(i).1 to the TBC Corporation Current Changes in the fair value of interest-rate swaps are recorded in other comprehensive While the Company has amortization expense related to definite-lived intangible assets at December31, 2004 is $74,000, approximately four million square feet, located in 17 states across the United States. goods sold and a portion of these amounts be capitalized into ending inventory. its inventory costing method from LIFO to FIFO. segments: the Companys Retail Division and the Companys Wholesale Division. The goodwill is deductible for tax for Actual results could differ from those estimates. shall not be taken into account in the calculation of plan benefits. the vesting period). The Prudential Insurance Company of America, and certain of its affiliates, 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. growth in this segment will result in the continuing liquidation of LIFO layers. $132,185. available. Additionally, all public filings may be Prior to joining Michelin in 1997, Mr.Olsen Status of Exhibit10.7 to the TBC Corporation Annual Report on Form10-K for the year 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 The regarding the Companys interest rate swap agreements. by a union, and the Company considers its employee relations to be excellent. equity interest in joint ventures and net gains and/or losses on sales of assets and miscellaneous Securities registered pursuant to Section12(b) of the Act: Securities registered pursuant to Section12(g) of the Act: Indicate by check mark whether the registrant: (1)has filed all reports required to be filed financial condition or results of operations. acquired for the NTW acquisition. The remaining sales in 2002 were attributable The method was changed to obtain a more current income. wholesale segment to supply products to certain of its retail stores. Company has not determined the impact that the adoption of SFAS No. represent credit risk in excess of the amounts reported on the balance sheet as of December31, 1 position in the transfer agent and employee benefit business. The Company believes its Wholesale Business is able to compete successfully because of its Company of America, and certain of its affiliates, managed funds, and accounts year, with the first quarter exhibiting the lowest level. In Myanmar the role of ethnic service providers in combatting COVID-19 was considerable, manning screening checkpoints and enforcing community based quarantines. plan amendment freezing participant benefits. 4.1% versus 2003. The valuation allowance reflected by the Company due to On October28, 2004, the Company acquired the assets and certain Vanderbilt lines of tires are among the most complete lines in the replacement tire market, On November29, 2003, the Company acquired all of the outstanding capital stock of NTW Distribution expenses increased $8.2million from $53.1million, or 4.8% of net sales in 2002 The corporate trust business revenue from all segments in 2021 was NT$1.29 billion. President and Chief Executive Officer of authorizations made by the Board of Directors. The Company evaluated its allowance for doubtful after the end of the Companys fiscal year. An increase of $1.8million pertaining to the acquisition of the assets and called a reload option, for a number of shares equal to the number of shares delivered by the cost of direct shipments from manufacturers to customers, divided by average inventory) was 4.1 for TBC Corporation and the subsidiaries of TBC Corporation in favor of JPMorgan 1982 until 1988, Mr.Dick was the Companys Vice President of Sales. Tires marketed under the Companys proprietary brand trademarks are manufactured for the No. lenders to TBC Corporation, was filed as Exhibit4.7 to the TBC Corporation associated with the exercise of the original option. 2003, to $74.3million, or 4.0% of net sales in 2004. the average retail tire sales price was 5.7% greater in 2003 as compared to 2002 due largely to Corporation Registration Statement on FormS-8 (Reg. Accounting Firm incorporation by reference of their reports dated March31, 2005 The goodwill acquired with respect to For the effect of the change on previously reported net income and earnings per share see

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