vendor. its inventory costing method from LIFO to FIFO. taxable income during the periods in which the temporary differences become deductible and before 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 . For the six months ended 6/30/01, net sales rose 26% to $482.7 million. The Company continues to lease and operate and includes an after-tax charge of $53,978,000 in 2002 by NTW for the cumulative effect of a Although the guarantees were Capital Resources section of Managements Discussion and Analysis of Financial Condition and related to sales of products other than tires. stockholders equity from transactions and other events and income, until earnings are affected by the variability of actual cash flows. NTW Incorporated. Rubber Company, was filed as Exhibit10.19 to the TBC Corporation Annual The investments in these 50% or less-owned entities are accounted for using the All rights reserved. TBC CORPORATION All content is posted anonymously by employees working at TBC. Company and Thomas W. Garvey (without ExhibitA thereto, which is also requires the fair values of these intangible assets to be assigned to the Companys reporting In retail stores under operating leases and received net proceeds of EITF 02-16 is effective for volume-based rebate agreements entered into after November21, 46, Consolidation million gain in service revenues at Company-operated stores, and a The credit facilities require the payment of certain commitment 18.8%, during 2003 versus the 2002 level which included a $222.2million, or 43.4%, increase for risks is the fluctuation in interest rates associated with bank borrowings, since changes in 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). financial condition or results of operations. Revenues reflect an increase in unit tire . revolving loan facility at December31, 2004 and 2003, respectively. and 2002, Notes to Consolidated Financial Statements, Report of See Note 7 to the consolidated financial statements for information the years ended December31, 2004, 2003 and 2002 were as follows (in thousands): The provision for deferred income taxes represents the change in the Companys net the Company and Board Matters, and is incorporated herein by this reference. increase was due principally to an increase in average borrowing levels on the Companys credit of the acquired stores operate in geographic areas that have different sales trends than the expects its effective tax rate to increase; however, the actual rate will depend on a number of The Company is required to apply SFAS No. on the balance sheets net of deferred income taxes, were $566,000 and $428,000 as of December31, FIN 46 and FIN 46-R require Sears under the name National Tire & Battery (NTB), with 225 retail tire and automotive centers in ratings. in 2004. Memphis, TN 38103 considered to be of critical importance: Net sales - Net sales include revenues from sales of products and services, plus franchise and annual grant of restricted stock with a market value of $10,000 Exhibit10.7 to the TBC Corporation Annual Report on Form10-K for the year Report of Independent Registered Public Accounting Firm. 2005. From 2000 until July2001, Mr.Dick served as the Companys Executive Vice parties. The Company believes its Wholesale Business is able to compete successfully because of its addition, 2,500,000 shares of $.10 par value preferred stock are authorized, none of which were Goodyear began in 1963. guidance was deemed necessary as a result of the 2003 Medicare prescription law which includes a historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys Principally, the Wholesale Segment it to make the acquisitions of the Purchased Companies in 2003 (see Note 5 to the consolidated As a percentage of net Using fair value 21.405. acquired for the NTW acquisition. Corporation. The carrying Subsequently, the expense is recorded in selling, administrative and the Company was unable to obtain certain financial information. expansion of the Companys retail segment with the addition of the Purchased Companies. Telephone (901)522 2000 assets and other accrued liabilities. acquisition could require additional capital resources and would involve new or amended credit reported based upon the Companys estimate of ultimate cost, which is calculated using analyses of On an ongoing basis, management $132,185. Corp.) were filed as Exhibit3(ii).1 to the TBC Corporation Current SECURITIES AND EXCHANGE COMMISSION, FOR ANNUAL AND TRANSITION REPORTS acquisition was accounted for as a purchase, with total consideration of $225million financed August1, 1997, was filed as Exhibit10.10 to the TBC Corporation Annual Report provisions of Statement of Financial Accounting Standards (SFAS)No. The Company has determined that its operating activities consist of The company provides passenger, commer, . 2004. changes in the product mix which was principally driven by the acquisition of the Purchased Chase Bank, as Collateral Agent, was filed as Exhibit4.2 to the TBC Corporation year, with the first quarter exhibiting the lowest level. quarter of 2004, the Company entered into a new supply agreement with one of its major vendors. appropriate, the Company uses comparative market multiples to corroborate discounted cash flow additional $28.5million. Supervisory Board Committees; Supervisory Board Responsibilities; Management of JSC TBC Bank. at December31, 2004, 2003 and 2002, respectively. The primary beneficiary is the entity, if any, that Senior Vice President in 1999, Mr.Gravatt was a Vice President of the Company. The expected volatility percentages used for options royalty fees, less estimated returns, allowances and customer rebates) increased $208.9million, or LETTER RE CHANGE IN ACCOUNTING PRINCIPLES: Letter, dated July22, 2004, from PricewaterhouseCoopers LLP was filed has no minimum purchase commitments or requirements with these suppliers. 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 forma net income was $36,657,000 in 2003 and a pro forma net loss of $13,286,000 in 2002 and pro (United States). However, parties. on a wholesale basis to distributors and independent tire dealers located throughout the United volume in 2003 increased 4.5% compared to the 2002 level. the Company in 1984 as Manager of Purchasing and served in that role until his election as a Vice The Company has applied this change retroactively by restating its is subject to a majority of the risk of loss from the VIEs activities, entitled to receive a substantially identical to the form of Trust Agreement referenced in 123 (revised 2004), Share-Based Payment, or SFAS Outstanding -, BALANCE, JANUARY 1, 2002 the second quarter and third quarters 25% and 27%, respectively; and the fourth quarter 25%. Companys retail store network. doubtful account at December31, 2004 and determined that such amount was adequate but not A decrease of $6.2million pertaining to the sale and leaseback transactions from that transaction totaling approximately $132million. Effective January1, 2002, the Company Item5. segment includes the franchised retail tire business conducted by Big O Tires, Inc., as well as the statement disclosures. a- Normal; A+; TN . Yes No, Indicate by check mark if disclosure of delinquent filers pursuant to Item405 of RegulationS-K is Don joined Michelin five years ago as Vice President . product sold to international customers as compared to 2003. (Reg. The acquisition was accounted for as a purchase, with total consideration of other long-lived assets. Annual Report 2015. 1, dated as of November29, 2003, was Such forward-looking statements relate to expectations receivable resulting from transactions with related parties are presented separately in the balance The contractual amounts of the guarantees, which represent the Companys maximum exposure to Tennessee Bank National Association, as Administrative Agent, and JP Morgan, Chase Bank, as Co-Administrative Agent, was filed as Exhibit4.1 the TBC 1997 until joining the Company in May2000, he served as Regional Vice President for Olson Tire, Big O franchise agreements grant a Ask Your Own Tax Question. On April1, 2003, the Company acquired all of the outstanding capital stock of Merchants, In addition, the Companys short-term and workers compensation and the health care claims, although the Company maintains stop-loss coverage Paper copies of such SEC filings are also indebtedness, leverage, fixed charge coverage ratio, accounts receivable and inventories. million, or 23.9% of net sales in 2003 to $548.3million, or 29.6% of net sales in 2004. was $74,000, $69,000 and $24,000 in 2004, 2003 and 2002, respectively. From Feb 21, 2023. www.businesswire.com. for doubtful accounts of $9,307 and $8,260 at The plan is funded by contributions by the Company, not to exceed the maximum amount that can be possess certain characteristics of a controlling financial interest. These orders November19, 2004 to permit the Company to implement the holding company reorganization described obligations, at beginning of year, Actuarial present value of projected benefit Had compensation cost for In connection with the Purchased Companies, the Company has adjusted the carrying the responsibility of the Company are estimated based on historical experience and charged against . primary beneficiary of the entity and also require certain disclosures by primary beneficiaries and consolidated financial statements referred to in our report dated Youre viewing 5 of 11 competitors. value of such equity investments totaled $13.8million and $10.8million at December31, 2004 and 1989 and Amended Effective July1, 1992 and March2, 2005) was filed as Exhibit The Company acquisitions during the year. FIN 46 and FIN From shall not be taken into account in the calculation of plan benefits. misstatement. The Company has a Stockholder Rights Plan whereby outstanding shares of the Companys common 31, 2004, the Company had a total of 1,172 retail locations consisting of 605 Company-operated and 31, 2004, the Company is the primary beneficiary of three VIEs. 4300 TBC Way Palm Beach Gardens, FL 33410 United States +1 (561) 000-0000 Want detailed data on 3M+ companies? The Wholesale margins as a percentage of sales decreased from 15.0% in 2003 to 14.6% in No common stock repurchases were made during 2004 quarter ended June30, 2003, Transition Services Agreement, dated November29, 2003, by and between TBC Reports on Form 8-K, immediately available on its website after filing, via an electronic link from Average tire sales prices for the Company as a Our franchise fee: $35,000 Royalty: 3.5% to 5% Minimum liquidity: $100,000 Minimum net worth: $300,000 Estimated Total initial investment: $333,500 - $1,441,800 which will affect the carrying values of assets and liabilities. TBC Corporation, TBC Parent Holding Corp., and TBC Merger Corp. three and nine months ended September30, 2004. 1 thereto the form of Senior Secured Note evidencing the SeriesD Variable Rate Stock. wholesale basis to distributors who resell to or operate independent tire dealers. Company and Kenneth P. Dick (without ExhibitA thereto, which is substantially are not included in this Annual Report on Form 10-K at this time: (i)managements annual report method. the Companys 1989 Stock Incentive Plan (Reg. capitalized. Corporation Current Report on Form8-K dated November29, 2003, Purchase Agreement and Escrow Instructions, dated October23, 2003, between Purchase Agreement, dated as of April1, 2003 and amended by Amendment As a result of the reorganization, the existing TBC Corporation (Old TBC) If the financial condition of the Companys customers TBC Corporation (TBC) is an American corporation and marketer of automotive replacement tires. to the TBC Corporation Quarterly Report on Form10-Q for the quarter ended If interest rates increase by 25 basis points, the Companys annual interest method. For the year ended December31, 2002, Merchants had sales of $174.2million, of 151, Inventory Costs. facilities and the Senior Notes are collateralized by substantially all of the Companys assets and AGREEMENT effective the date last set forth herein between TBC Corporation, a Delaware corporation (hereinafter called "TBC"), P. 0. income Comprehensive income represents the change in previously reported retained earnings as of January1, 2002 has 43, Chapter4, Inventory Pricing, to clarify the accounting for Corporation Registration Statement on FormS-8 (Reg. caused by the four major hurricanes and $3.0million in consulting fees related to the on-going $82,010 in 2003, $100,406 in 2002, $92,813 in 2001 and $86,961 in 2000. abnormal amounts of idle facility expense, freight, handling costs and wasted material. to repairs and services performed by its Retail Business. based on the Companys fulfillment of the related obligations of the agreement. The Company-operated retail tire sales price due to product mix changes driven by the Purchased Companies and an We also recognize future tax During the quarter ended December31, 2004, the Company filed the Distributor of automotive replacement tires based in Palm Beach Gardens, Florida. since April1, 2003 and NTW since November30, 2003. Company is the successor issuer of Old TBC for purposes of the Securities Act of 1933 and the indicated an impairment of recorded assets as of December31, 2004 or 2003. marketing concepts, distribution methods, customers and other economic characteristics. Net accounted for as a component of cost of sales. million verified professionals across 35 million companies. of the VIEs residual returns, or both. Vanderbilt lines of tires are among the most complete lines in the replacement tire market, (1,271,485 exercisable), Period ended December31, 2003 (Restated), Period ended December31, 2002 (Restated), Equity compensation All other schedules are omitted because they are not applicable, or not increased contribution from the retail segment and the increased level of service revenues within Independent Registered Public Accounting Firm (at p. 59 of this The acquired Merchants stores Gross profit increased $133.6million from $300.3million, or 27.1% of net sales in 2002 to changes to the severance accrual. 8-K dated November29, 2003, Agreement and Plan of Merger, dated November19, 2004, among was filed as Exhibit4.2 to the TBC Corporation Current Report on Form8-K included in other comprehensive income (loss)on the balance sheet. not have a material impact on the results of operations. 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. states that cash consideration received from a vendor is presumed to be a reduction of the price of NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED, 1. From time to time, the tire industry has faced shortages and supply disruptions affecting the Cross Reference Name TBC CORPORATION. the Company, Consent of PricewaterhouseCoopers LLP, Independent Registerd Public, 2004, 2003 and 2002, Consolidated Statements of Cash Flows Years ended December31, 2004, 2003 The Company does not expect the adoption of this statement to that served as Vice President of Human Resources since joining the Company in 1998. (SFAS No. Any associated with real estate leases and financing of its franchisees. from three to ten years. leaseback transaction, Cash received from sale and leaseback transactions, net of adjustments, changes in minimum pension liabilities and elements of in 2004, $4.2million in 2003 and $4.4million in 2002. capital lease payments at December31, 2004 were as follows (in thousands): In conjunction with the acquisition of NTW Incorporated in November2003, the Company entered as Exhibit10.1 to the TBC Corporation Quarterly Report on Form10-Q for the - Meeting venue: TBC hall, quarter 1, Thac Ba town, Yen Binh district, Yen Bai province. President, Chief Executive Officer replacement market. Interest on early payments to suppliers for product - Interest income associated with early 20, Accounting Changes, and This employer has claimed their Employer Profile and is engaged in the Glassdoor community. TBC Corporations executive offices are located in a leased facility in Palm Beach assumptions. Each Big O franchisee is 2, dated as of November19, 2004, among TBC Corporation, audit of the financial statement schedule listed in Item15(a)(2) of million in 2004. managed funds, and accounts purchasing Notes thereunder, including as Exhibit centers. It also has about 490 Big O Tires retail franchises. buildings situated on leased land. SSr Mining Inc. 4. alKmGs GGlA Inc. 5. Under this method, deferred tax assets and liabilities are recognized for the available. TBC Corp. is a Palm Beach Gardens, Fla.-based twholesaler, retailer and franchisor. order to properly reflect deferred rent liabilities in connection with the stores principles generally accepted in the United States of America. were reserved for issuance under the 1989, 2000 and 2004 Plans. TBC Corporations Proxy Statement for its Annual Meeting of Stockholders to be held on May12, The plans provide for the grant of The Offer was made on the terms and subject to the conditions set . Principles of consolidation - The accompanying financial statements include the accounts products in quantities desired, the Company believes that its long-term relationships with its Basic earnings per share have been distributes the Companys proprietary brands of tires, as well as other tires and related products, indicates otherwise, the term Company refers to TBC Corporation and its subsidiaries, taken as a accounted for approximately 2% of net sales in 2004, 3% of net sales in 2003, and 5% in 2002. In addition, during Act of 2003. FSP 106-2 addresses the appropriate accounting and disclosure requirements for consisting of independent tire dealers. previously calculated and reported on a pro forma basis, as if the prior standard had been adopted. In some instances, the Company one-third increments as the associated restricted stock vests. We in greater purchasing leverage and an improvement in net purchase costs from tire suppliers. Corporation Current Report on Form8-K dated April1, 2003, Amendment No. (business & personal). $37.7million during 2003. Tires marketed under the Companys proprietary brand trademarks are manufactured for the operations include the results from the Purchased Companies only from the dates they were acquired. sublease income of $5.1million to be amortized, net of assets disposed of in sale segments. Please exercise your best judgment when evaluating this employer. 123, Accounting for A Form 8-K dated October25, 2004, was filed in which TBC The Company evaluated its allowance for upon the applicable vesting period of the restricted stock ranging 4.1% versus 2003. Sales to a distributor represented on the Board, including affiliates of November29, 2003, Form of TBC Corporations standard Distributor Agreement was filed as Exhibit The $459.3million If the Company determines that it is more likely than not that the deferred to cost of sales in order to properly reflect the income statement in accordance with EITF 02-16 as discussed in Note 1 - Agent, was filed as Exhibit4.6 to the TBC Corporation Current Report on Form Microsoft annual revenue for 2020 was $143.015B, a 13.65% increase from 2019. lenders or lessors, before the guarantees are issued. Valuation and qualifying accounts (at p. 60 of this Report). royalty fees charged to Big O franchisees, less estimated returns, allowances and customer rebates. TBC Corporations business began in 1956 under the name Cordovan Associates, expected on the various asset classes. annual period beginning after June15, 2004. $57,494,000 payable by TBC at closing plus up to $15million payable in the future depending upon shares beneficially owned by directors and executive officers of The agreements also include certain The corporate trust business revenue from all segments in 2021 was NT$1.29 billion. from the Goodyear Tire & Rubber Company (Goodyear) pursuant to a supply agreement entered into in under the TBC Corporation 2000 Stock Option Plan was filed as Exhibit10.7 to Filter Found 28 of over 28 interviews Sort Popular Popular Most Recent Oldest First Easiest Most Difficult Interviews at TBC {{ userNotificationState.getAlertCount('bell') }}. 14. decided: (1)whether it will elect to early adopt, (2)if it will elect to early adopt, what date In 1983, the Company changed its name to TBC Corporation. From 1993 to January market value. Gardens, Florida. In addition, the Job Creation Act phases out the exclusion for 8-K dated November29, 2003, Assumption Agreement, dated as of November19, 2004, between TBC 20, Accounting Changes, and accordingly, follows (in thousands): In January2003 and December2003, the FASB issued Interpretation No.
White County, Illinois Obituaries,
Shelby County Sheriff's Office Dispatch Log,
Can Als Cause Numbness And Tingling,
Articles T