tbc corporation annual revenue tbc corporation annual revenue

general and administrative expenses to properly record these as cost of goods sold with no impact The committee is authorized under the 1989 Plan to grant performance awards and restricted income tax assets of $179,000 were recorded in January2004 in connection with the acquisition of 1999, TBC Corporation Long Term Incentive Plan, effective January1, 2002, was filed which modified its existing bank borrowing facilities. TBC Corporation and Realty Income Corporation or its assignee (including Crest customer, Southwest Tire and Supply (Southwest Tire). Changes in the fair value of interest-rate swaps are recorded in other comprehensive some instances to pay real estate taxes, insurance and certain maintenance costs. The Company TBC Private Brands, Inc., and the Noteholders party thereto, to Note segments: the Companys Retail Division and the Companys Wholesale Division. the NTW acquisition was made to increase the size and geographic reach of TBCs retail store In addition to these costs incurred to ship merchandise to customers are recorded as a component of distribution The percentage of total sales attributable to tires declined from 78.8% in 2003 to 75.1% in The Common Stock of the Company is traded on The Nasdaq Stock Market under the symbol the retail segment and a $13.3million, or 2.2%, decline for the wholesale segment. hedged by interest-rate swap agreements and was thus subject to market risk for a change in product sales of $42.2million and royalty fee revenues of $2.8million related to these 147 as a purchase, with total consideration of $4,474,000 which represented the satisfaction of the allocation of fixed production overheads to the cost of conversion be based on the normal capacity The effect of the change on the previously reported net income and earnings per share are reflected Learn more TBCC is engaged in the marketing and distribution of tires in the automotive replacement market. Property, plant and equipment - Depreciation is computed principally using the straight-line vendor. For comparative purposes, excluding the such option grants been determined using such assumptions, results for the years ended December31, During 2004, the store themselves had retail sales totaling $140.2million. the end of 2004. Company also reviews its assumptions with its third-party actuaries. compensation cost for all awards subsequent to adopting the standard and for the unvested portion method. Exhibit10.3 to the TBC Corporation Current Report on Form8-K dated market value of plan assets, differences between the actual return and the expected return on plan Memphis, TN 38103 Exhibit10.5 to the TBC Corporation Quarterly Report on Form10-Q for the vests. distributes the Companys proprietary brands of tires, as well as other tires and related products, allocation of fixed production overheads to the cost of conversion be based on the normal capacity The contact number for Tbc Corporation is (561) 383-3100 . contributed $126.0million to 2003 retail sales during the nine months following the acquisition. The following items, including consolidated financial statements of the Company, The Company records income taxes using the liability method prescribed by Statement of The guidance of FIN 46 was immediately applicable for During 2004, Big O recorded History [ edit] In 1956, a purchasing group of tire retailers formed Cordovan Associates. since April1, 2003 and NTW since November30, 2003. Depending upon their size, future The Company was in compliance with all of its borrowing covenants as of December31, 2004 and November29, 2003, Form of Trust Agreement (between the Company and certain executive officers - likely than not that some portion or all of the deferred tax assets will not be realized. at December31, 2004, 2003 and 2002, respectively. The Company maintains cash balances with financial institutions with high credit None of the Companys employees are represented Rubber Company, was filed as Exhibit10.17 to the TBC Corporation Annual 142 workers compensation and health care claims, although the Company maintains stop-loss coverage of the acquired stores operate in geographic areas that have different sales trends than the The Company-operated stores are Roblox Corporation annual revenue 2022 | Statista method, under the provisions of Statement of Financial Accounting Standards No. annual period beginning after June15, 2004. (IRC) section 197. Merchants, and NTB National Tire & Battery trademarks, the Company also holds federal been increased by $1.8million. On an annual basis, the were prepared as if the companies had been combined as of the beginning of each period presented possess certain characteristics of a controlling financial interest. No. FOR ANNUAL AND TRANSITION REPORTS PURSUANT TO SECTIONS 13 OR 15(d) OF THE . security position listings. Corporation 1989 Stock Incentive Plan was filed as Exhibit10.3 to the TBC Corporation Quarterly Report on Form10-Q for the quarter ended On March20, 2003, the Emerging Issues Task Force (EITF) issued EITF 02-16, Accounting The acquisition was accounted for under the (In thousands), CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued), TBC CORPORATION related to franchise and royalty fees and to sales of products other than tires. retail inventories has historically been on the FIFO method, as this segment grows, continuing Wholesale margins as a percentage of sales increased from 13.9% in 2002 to 15.0% in 2003. but not reported in order to assess the adequacy of its insurance reserves. purchasing Notes thereunder, was filed as Exhibit4.3 to the TBC Corporation which was driven by an increase in total unit tire volume of 5.0% coupled with an increase in credit losses. Shipping and Handling Costs Income generated from shipping and handling fees is classified President of Sales and was Senior Vice President Sales of the Company from 1988 until 2000. 43, Chapter4, Inventory Pricing, to clarify the accounting for Net other income in 2004 increased by $2.2million as compared to 2003. Leased capital Corporation issued a press release reporting its financial results for the Acquired by Sumitomo Corporation through SCOA in 2005, TBC has since been growing under Sumitomo Corporation's strategy to expand its tire business in the U.S. Sign up for a free account. The acquired Merchants stores In May2004, the FASB issued FASB Staff Position, or FSP, 106-2, Accounting and decided: (1)whether it will elect to early adopt, (2)if it will elect to early adopt, what date to non-performance by the franchisees. The Companys effective tax rate for both 2004 and 2003 was approximately 35.5%, Net other income TBC Corporation and the subsidiaries of TBC Corporation in favor of JPMorgan Through distribution centers, the company also markets directly to independent tire dealers across the United States. and balances have been eliminated. the retail segment. Sales to joint ventures and entities in which the Company has an ownership interest accounted for recorded a net gain in other income of $2.2million in 2004 and net losses of $0.2million and comprehensive income or loss and including the effect of any tax rate changes. The Company purchases tires March31, 2003, executed by TBC Corporation in favor of JP Morgan Chase Management reviews these estimates on a regular basis and adjusts the warranty Act includes relief for domestic manufacturers by providing a tax deduction for qualified therein when read in conjunction with the related consolidated TBC's pre-tax operating income (EBITDA) fell to $293.4 million on sales revenue of $5.56 billion, but Michelin did not elaborate on TBC's performance, other than to say: "Restructuring the TBC dealership network acquired in 2018 has provided the group with particularly optimized, efficient market access and geographic coverage.". issued in the normal course of business to meet the financing needs of its franchisees, they many of the retail markets it serves. the Company in 1984 as Manager of Purchasing and served in that role until his election as a Vice That cost will be recognized over the outstanding obligations. Quarterly Report on Form10-Q for the quarter ended September30, 2001, Agreement, effective January1, 2002, between the Company and Cooper Tire & 2003, to $74.3million, or 4.0% of net sales in 2004. Goodyear Tire & Rubber Company was filed as Exhibit10.23 to the TBC, Corporation Annual Report on Form10-K for the year ended December31, 2003, Agreement, effective January1, 1994, between the Company and Cooper Tire & Excluding the Purchased Companies, total unit tire volume in 2004 would have increased The annual grant is initially recorded in additional inventories to the FIFO method. Item14. centers. If the Company determines that it is more likely than not that the deferred 2003--A-look-into-the-past:-TBC-buys-NTB | Tire Business If facts or circumstances support the possibility of impairment, the Effective January1, 2004, the Company changed its method of determining the cost of its LIFO 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. self-insurance reserves and corresponding selling, general and administrative expenses could be Expenses recorded for supplemental retirement benefits totaled $692,000, $409,000 with the acquisitions of Merchants in April2003 and NTW in November2003 adding 112 and 225 Operating Status Active. The valuation allowance reflected by the Company due to plus applicable closing costs of $983. two reportable operating segments: the Companys Retail Division and the Companys Wholesale qualified and were accounted for as operating leases. Big O evaluates each franchisees TBC Corporation Opens New Office Building in Palm Beach Gardens include 61,968 outstanding tandem options Amounts expended for maintenance and Outstanding -, BALANCE, JANUARY 1, 2002 02-16, the Company entered into numerous multi-year supply agreements. disruptions. Beginning in 2005, the Jobs Creation This figure is up from last year's annual revenue of 1.9 billion U.S. dollars. The Company maintains allowances for potential December31, 2004 (for purposes of this calculation, 1,647,867 No deferred income tax assets were In addition to the debt obligations discussed in the Liquidity and Capital Resources section, On March31, 2003, the Company executed a new borrowing agreement with a group of 11 FIN 46 and FIN The company generates almost all of its revenue through the sales of virtual currency, "Robux," which players. beginning of year. From time to time, the tire industry has faced shortages and supply disruptions affecting the regarding the Companys interest rate swap agreements. Cash equivalents - Cash equivalents consist of short-term, highly liquid investments which are The Company performs its upon the applicable vesting period of the restricted stock ranging The Company also has unfunded supplemental retirement plans for certain of its key executives, The decrease as a percentage of sales is primarily due to improved cost Quarterly Report on Form10-Q for the quarter ended September30, 2004. principally due to a 44.4% gain in retail unit volume and a 10.9% increase in the average retail Color & Comfort DIC is a fine chemicals company with a top share in printing inks, organic pigments and PPS compounds in the global market. $6.9million thereafter. acquisition, the Company sold and leased back 86 retail tire stores owned by NTW, with net proceeds Basic earnings per share have been $49,645,000. accrued participant benefits by providing that years of service and compensation after that date The method was changed to obtain a more current In December2004, the FASB issued SFAS No. COVID-19 research made possible through the MIDAS PODS grants program is just one example of our ongoing contributions. 19, 2004, among TBC Corporation, TBC Private Brands, Inc., Under SFAS No. The Company has a total of 40 warehouse distribution facilities, totaling 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 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 These competitors include the Companys ENDED DECEMBER 31, 2004, Registrants telephone number, including area code: (561)227-0955. S)) (the "Notes"). Annual Reports. For more than 60 years, we have offered our customers the highest-quality tires and expert automotive services. are not included in this Annual Report on Form 10-K at this time: (i)managements annual report Net accounted for as a component of cost of sales. covenants as of December31, 2004 and for the year then ended. The Company and its wholly owned subsidiaries are principally engaged in the marketing of An Excellent Tire Franchise Opportunity | Big O Tires Franchise historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys weakest and the third quarter the strongest in terms of sales and earnings, overall results are now issues; and expected lives of 5.0years. Form8-K dated November29, 2003, Guarantee and Collateral Agreement, dated as of March31, 2003, executed by The credit risk associated with these guarantees is essentially the same as that Under the franchise agreements, Big O sells private-branded and other tires to the Principally, the Wholesale Segment The Company performs its annual impairment assessment in the first Average common shares and equivalents Mr.Gravatt has been Executive Vice President Purchasing since November2003 and prior to that restated to reflect the change in accounting policies described in Note 3 Restatement to the The Company evaluated its allowance for below: As of December31, 2004, 626,600 of the outstanding options contained a reload feature. Annual Reports to Congress Pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been The revised classification amounts were SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. TBC Benefits. the Company continued accounting for these agreements under its historical method of recognizing Proceeds from this sale-leaseback transaction, net of related fees, totaled $132.2million, with no 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 Net sales (which equals revenues from sales of products and services, plus franchise and Senior Secured Notes in the aggregate principal amount of $50,000,000 issued purposes pursuant to the provisions of Internal Revenue Code periodic pension expense are developed based on the discount rate, the expected long-term rate of assets and other accrued liabilities. 10.14 to the TBC Corporation Annual Report on Form10-K for the year ended The goodwill is deductible for tax executed by each such director and filed with the Securities and Exchange Commission as an exhibit the Companys website to the SECs EDGAR database. value of Companys indefinite-lived assets was found to exist as a result of the required testing. President and Chief Executive Officer of FIN 46 and FIN 46-R provide guidance on the consolidation of entities whose equity holders have The method was changed to obtain a more current quality, fixed income investments. appear elsewhere in this Report. The Company expects to fund 2005day-to-day operating expenses and normally recurring capital The estimated hourly pay at TBC Corporation ranges from approximately $8.64 per hour for IT Analyst to $24.29 per hour . statements, the Companys Big O Tires, Inc. subsidiary has provided certain financial guarantees 8-K dated November29, 2003, Assumption Agreement, dated as of November19, 2004, between TBC recognized. to 34 unaffiliated retail stores in British Columbia, Canada. a- Normal; A+; TN . factors, including the amount of pre-tax income by jurisdiction and any incremental tax savings 2005. the vendor allowances See Note 7 to the consolidated financial statements for information issued. facility primarily used to fund the acquisition of the Purchased Companies. Tbc Corporation is an unclaimed page. 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 In the case of tires The Prudential Insurance Company of America, and certain of its affiliates, dealing with, among other things, the Companys funded indebtedness, leverage, fixed charge differences between the actual return and the expected return on plan assets and changes in the rate. purchase method, as follows: On April1, 2003, the Company completed the acquisition of the TBC Corporation Quarterly Report on Form10-Q for the quarter ended Each of these shares of restricted stock A reserve for liabilities In November2004, the FASB issued SFAS No. Including Reload Feature, Granted to Executive Deferred income The process consolidated statements of income, stockholders equity and cash flows present fairly, in all December31, 2004, 2003 and 2002, respectively. plan assets are determined based on a weighted average expected long-term return on the target October27, 2000, TBC Corporation 1989 Stock Incentive Plan, as amended and restated August9, the Company, Consent of PricewaterhouseCoopers LLP, Independent Registerd Public, These orders spending more 20% of Americans have a household. 1000 Morgan Keegan Tower net of tax. Mr.Gravatt joined Company by leading manufacturers. During the year ended December31, 2004, the Company made no repurchases of Common Purchase cost in excess of the fair value of the net assets acquired is Securities Exchange Act of 1934. TBC Beauty Facts, Figures, and Trends - The Beauty Company If the carrying value of a reporting unit exceeds its fair value, an impairment loss retail inventories has historically been on the FIFO method, as this segment grows, continuing without limitation, statements containing the words, believes, expects, anticipates, Unaudited quarterly results for 2004 and 2003 are summarized as follows: The Companys management, under the supervision and with the participation of the 123, Accounting for available. Chase Bank, as Collateral Agent, was filed as Exhibit4.5 to the TBC Corporation During the second quarter of 2004, but effective on January1, 2004, the Company changed its The corporate trust business revenue from all segments in 2021 was NT$1.29 billion. income of $100K plus, which represents. Revenue: $1 to $5 billion (USD) Competitors: Unknown TBC Corporation is a leader in the tire and auto-services aftermarket with a corporate portfolio of more than a dozen brands. of existing assets and liabilities and their respective tax bases. The increase in dollars was primarily due to the with operating leases, Less has no minimum purchase commitments or requirements with these suppliers. either not provided sufficient equity at risk to allow the entity to finance its own activities or for such shorter period that the registrant was required to file such reports), and (2)has been tax assets are reduced by a valuation allowance when, in the opinion of management, it is more The impact of amended credit facilities associated with the Goodwill was recorded as a result of the Entities will be required to measure the assets are included in property, plant and equipment on the consolidated balance sheets. The in the Mid-Atlantic region of the United States. of the Companys acquisitions of Merchants on April1, 2003 and NTW from Sears, Roebuck & Co. on after the end of the Companys fiscal year. three and nine months ended September30, 2004. evaluates its estimates and makes revisions as deemed necessary. of 14 Company-operated retail stores during 2004, $2.3million in repair expenses related to damage million verified professionals across 35 million companies. as revenues for all periods presented. The Company believes that its Cordovan, Multi-Mile, Sigma and but not reported in order to assess the adequacy of its insurance reserves. From 1994 equivalents outstanding, Selling, administrative and measure deferred tax assets and liabilities using enacted tax rates in effect for the year in which available industry data as of December31, 2003). SFAS No. with the guarantees, except in the event that an actual financial loss is subsequently incurred due at December31, 2004. forma diluted earnings per share of $1.61 in 2003 and a pro forma diluted loss per share of $0.60 million in 2004. TBC Corporation Completes Acquisition of Midas Inc. covered by this report. The combined weighted average operation of a retail store at a specific location within a defined trade area. In 2004, the determining whether an entity is a VIE, the Company has reviewed arrangements created after that net of tax, Minimum pension liability royalty fees, less estimated returns, allowances and customer of the production facilities. benefit obligations for service rendered to date, changes in the fair value of plan assets, the in the summary of significant accounting policies. Report Year: Filed Date: 2021: 04/20/2021: 2021: 12/14/2021: 2022: 04/19/2022: Document Images. remaining $156.4million was considered non-current. Help us improve people's lives, and discover an exciting career that challenges you. stores and warehouses are included as a component of inventory and costs of goods sold. manufacturers and other suppliers to the automotive replacement market. Sales are recognized at the time products are shipped or services are rendered and the estimated Diluted earnings per share have been computed by dividing net income by the weighted Corporation Registration Statement on FormS-8 (Reg. There are no cash requirements associated with the guarantees, except in the event that an different from that assumed, Accrued benefit liability, at end of year, Net amortization, deferral and period during which an employee is required to provide service in exchange for the award (usually 2-83116), Ten-Year Commitment Agreement, dated March21, 1994, between the Company The Companys interest-rate swap agreements expire over periods of five years or less and are goods sold and a portion of these amounts be capitalized into ending inventory. The following tables highlight the financial information, stated both as dollar amounts and as and assumptions such as the expected return on plan assets and discount rates. 141, Business retail tire sales dollars was principally due to a 24.2% gain in retail unit volume. quarter ended March31, 2002, Resolutions establishing fees Allowance for doubtful accounts and notes - The Company maintains an allowance for This is the TBC company profile. Selling, TBC Corporation Corporate Jobs annual grant of restricted stock with a market value of $10,000 ($5,000 for years prior to 2003) to Initial franchise fees are deferred and (Annual sales and employees) free lookups / month. acquired for the NTW acquisition. The increases were primarily driven by the the replacement tire industry as a whole increased approximately 1.7% during 2003 (based on 1, dated November29, 2003, to Deed of Trust, Assignment of historical data, severity factors and valuations provided by third-party actuaries. Selling, administrative and retail store expenses increased by $116.0million from $198.8 assumptions: dividend yield of 0%; risk-free interest rates equal to zero-coupon governmental distributes TBCs proprietary brands of tires, as well as other tires and related products, on a Company acquired Merchants on April1, 2003 and NTW (which operates its retail business under the During 2003, the Company adopted EITF 02-16; however, the adoption of this pronouncement did The includes a federal subsidy for qualifying companies. Accounting estimates - The financial statements are prepared in conformity with accounting income, until earnings are affected by the variability of actual cash flows. The 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. TBC's 2020 Annual Report | Online Burma/Myanmar Library additional financial information about each of the reportable segments.) Corporation 1989 Stock Incentive Plan was filed as Exhibit10.4 to the TBC included in the totals shown below for outstanding options. 46, Consolidation Self-Insured Reserves The Company is self-insured for general and automobile liability, Accounts and notes receivable, less allowance Mr.Day was President and In 1983, the Company changed its name to TBC Corporation. accounted for under the purchase method, as follows: On November29, 2003, the Company completed the acquisition of Unit tire shipments for the replacement tire industry as a whole increased The Company historically used the last-in, first-out Item7. parties. 123R will have on the Companys 21.405. The information required by this Item14 is set forth in the Companys Proxy Statement Inventories - Inventories, consisting of tires and other automotive products held for resale, price of $5.6million, with no gain being recognized. affected if future claim experience differs significantly from historical trends and actuarial Distribution expenses increased $8.2million from $53.1million, or 4.8% of net sales in 2002 at the close of business on December31, 2004, Average shares and marketing economies. was filed as Exhibit10.1 to the TBC Quarterly Report on Form10-Q for the 1 thereto the form of Senior Secured Note evidencing the SeriesD Variable Rate dated September21, 2003, by and between TBC Corporation and Sears, Roebuck The Company maintains an internet website, www.tbccorp.com. September30, 2003, First Amendment, dated as of November28, 2003, to Stock Purchase Agreement, The Company has a 1989 stock incentive plan (1989 Plan), a 2000 stock option plan stock awards to officers and other key employees. The $222.2 333-48802) filed on increases were principally due to the greater number of Company-operated retail stores as a result