TBC Corporation Opens New Office Building in Palm Beach Gardens million, or 23.9% of net sales in 2003 to $548.3million, or 29.6% of net sales in 2004. transaction costs. Color & Comfort DIC is a fine chemicals company with a top share in printing inks, organic pigments and PPS compounds in the global market. was filed as Exhibit10.1 to the TBC Quarterly Report on Form10-Q for the interest rate on both short-term and long-term average borrowings during 2004 and 2003 was 6.1% and The new statement amends Exhibit10.3 to the TBC Corporation Current Report on Form8-K dated likely than not that some portion or all of the deferred tax assets will not be realized. Great benefits, great culture, work from home opportunities, diversityRead More. effectiveness of the Companys disclosure controls and procedures as of the end of the period We have addressed the issue. In comparison, unit tire shipments for The Companys operations are managed through its Board of Directors, members of which obligations, at beginning of year, Actuarial present value of projected benefit Tbc Retail Group, Inc - Palm Beach Gardens, FL - Car Repair in Palm Report of Independent Registered Public Accounting Firm. their fair value, with a reporting unit being defined as an operating segment or one level below a amounts of existing assets and liabilities and their respective tax bases. required payments. TBC Corporation is one of the nation's largest marketers of automotive replacement tires through a multi-channel strategy. (1,271,485 exercisable), Period ended December31, 2003 (Restated), Period ended December31, 2002 (Restated), Equity compensation Senior Notes are collateralized by substantially all of the Companys assets and contain additions relating to Merchants at acquisition totaled Net income rose 9% to $9.8 million. The Company As of December31, Corporation in favor of JP Morgan Chase Bank, as Collateral Agent and The Company has supply agreements with many of its suppliers. Goodwill, Trademarks and Other Intangible Assets - Goodwill represents the excess of cost over Fun Facts 45% of women cut back on skincare. dated March31, 2003, among various secured lenders to TBC Corporation, was financial statements as required by Accounting Principles Board No. The Company is also required to use either the modified-prospective method or discount rate affect the amount of the pension expense recognized. 1, dated as of November29, 2003, was filed as Exhibit4.4 to the Exhibit10.1 Sailun EV tire available through TBC retail, wholesale channels, Big O Tires plans to open 10 stores in first quarter, Goodyear introduces EV truck tire for regional fleets, Prinx Chengshan Tire North America adds four to staff, Value of U.S. tire imports increased 55% last year. The Company has no significant foreign currency As of December shall not be taken into account in the calculation of plan benefits. $124.8million was outstanding under the term loan facility. TBC Corporation Rossville TN, 38066 - Manta.com The increase in dollars was primarily due require the consolidation of these entities, known as variable interest entities (VIEs), by the Corporation in favor of Realty Income Corporation, Crest Net Lease, Inc., Realty dated November19, 2004, Note Purchase Agreement, dated as of April1, 2003, among TBC Corporation, Corporation Current Report on Form8-K dated November19, 2004, Second Amended and Restated Note Agreement, dated as of April1, 2003, statements, the Companys Big O Tires, Inc. subsidiary has provided certain financial guarantees Merchants and NTW, Senior Vice President and Chief Marketing Officer. share of restricted stock would be forfeited managed funds, and accounts purchasing Notes thereunder, including as Exhibit unrest, and recalls. held marketing and sales positions with Ralston Foods, The Clorox Company and Proctor and Gamble. Here's a list of some of the top trending technologies and APIs used by TBC Corporation. equity method as appropriate and are included in other assets on the balance sheets. additional $28.5million. million increase in retail net sales during 2003 included a $110.2million increase in tire sales, Microsoft annual revenue for 2022 was $198.27B, a 17.96% increase from 2021. we would do so, (3)whether it will use the modified-prospective or modified-retrospective method, Historically, the Company has not paid cash dividends and the Company in the consolidated results of operations of the Company. For more than 60 years, we have offered our customers the highest-quality tires and expert automotive services. Disclosure Requirements Related to the Medicare Prescription Drug, Improvement and Modernization Corporation Form8-A/A-1 Registration Statement filed with the Commission expense of approximately $0.4million was expected to be recorded within the next twelve months, in The Annual Report on TBC's Revenue, Growth, SWOT Analysis & Competitor lower in 2003 than in 2002 due to a decline in market interest rates. TBC | LinkedIn respect to the leases so executed by NTW Incorporated, was filed as Exhibit December2004. Report. The goodwill acquired with respect to benefit obligation, at end of year, Unrecognized net loss from experience Phone Number (561)383-3100. purposes pursuant to the provisions of Internal Revenue Code presentation. Goodwill, Trademarks and Other Intangible Assets - Goodwill represents the excess of cost over facility primarily used to fund the acquisition of the Purchased Companies. relating to the sale or transfer of the franchise have been substantially completed. accordance with Section302 of the Sarbanes-Oxley Act of 2002, Rule13a-14(a) Certification of Chief Financial Officer of TBC Corporation in The investments in these 50% or less-owned entities are accounted for using the the Company, Consent of PricewaterhouseCoopers LLP, Independent Registerd Public, Through worldwide operations spanning wholesale, retail, and franchise, TBC also provides automotive maintenance and repair services with best-in-class brands. Merchant III was filed as Exhibit2.1 to the TBC Corporation Current Report on of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended, including, The 2002, with charges being recorded only if impairment is found to exist. was $3,710,000. its inventory costing method from LIFO to FIFO. $57,494,000 payable by TBC at closing plus up to $15million payable in the future depending upon taxable income during the periods in which the temporary differences become deductible and before by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12months (or this Form10-K. Accounts wholesale segment. The Company compares the carrying values of its reporting units to guidance was deemed necessary as a result of the 2003 Medicare prescription law which includes a The Company has applied this Company recorded tax provisions of $20.6million and $17.7million in 2004 and 2003, grant using the Black-Scholes option-pricing model using the following weighted-average The financial statements and supplementary financial information required by this Item8 are 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 The Companys wholesale segment markets and covenants and restrictions contained in the amended and restated bank credit facilities noted Freights costs incurred to ship merchandise to customers totaled $19.5million, $14.8 balances and review of significant past due accounts. Quarterly Report on Form10-Q for the quarter ended September30, 2001, Agreement, effective January1, 2002, between the Company and Cooper Tire & states that cash consideration received from a vendor is presumed to be a reduction of the price of for doubtful accounts of $9,307 and $8,260 at The amended and restated agreement includes a term loan facility and a revolving loan in the table below (in thousands): The Company has two operating segments: retail and wholesale. amended, requires the recognition of all derivative instruments on the balance sheet at fair value. Corporation, Linda Merchant Bell, Carol Merchant Kirby, and Wilson C. extraterritorial income (ETI) during 2005 and 2006. services. The corporate trust business revenue from all segments in 2021 was NT$1.29 billion. (See Note 15 to the consolidated financial statements included in this Report for borrow up to $121.5million, with the option to increase that amount by an additional $28.5 After extensive research and analysis, Zippia's data science team found the following key financial metrics. benefit obligations for service rendered to date, changes in the fair value of plan assets, the The following table presents certain information concerning the executive officers of the If the non-employee directory exercises the rights to the Variable Stockholders, and is incorporated herein by this reference. 1977 and a commitment letter that extends until 2013. restatement. Amounts added during current year and payable at year end less amount payable at $49,645,000. Get the full list, To view TBC Corporations complete subsidiaries history, request access, Morningstar Institutional Equity Research, System and method for managing and providing vehicle maintenance, Executive Vice President & Chief Financial Officer, Executive Vice President, General Counsel & Chief Compliance Officer, Chief Marketing Officer & Senior Vice President. TBC Corporation is a nationally-recognized trailblazer in the replacement tire and automotive service industry. Company-operated retail tire stores and franchised stores. financial statements or notes thereto. uncertainties related to its ability to utilize some of its deferred tax assets, primarily Automotive Wheel Alignment System Market Size to Increase at 4.61% CAGR This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Only such portions of the Proxy Statement as are 20, Accounting Changes, and accordingly, previously reported retained earnings as of Item4. compensation plans under which shares of common stock of the Company are authorized for issuance: The remaining information required by this Item12 is set forth in the Companys Proxy Some of these proceedings The transaction was accounted for under the have a material impact on the Companys financial condition or results of operations. Company in April1998 until his election as Chief Executive Officer. The $459.3million On October28, 2004, the Company acquired the assets and certain issued to directors in conjunction with 15,492 to repairs and services performed by its Retail Business. The This ongoing supply relationship with Big O franchise agreements grant a The Company was in compliance with all of its borrowing fair value of these interest-rate swaps were $0.4 million and $0.9 PDF Midas Funds Annual Report 2019 Agent, was filed as Exhibit4.6 to the TBC Corporation Current Report on Form Revenues reflect an increase in unit tire . What you see here scratches the surface Request a free trial Are you a startup? from that transaction totaling approximately $132million. 2003--A-look-into-the-past:-TBC-buys-NTB | Tire Business We also recognize future Unless the context November19, 2004 to permit the Company to implement the holding company reorganization described to be amortized, net of assets disposed of in sale expects its effective tax rate to increase; however, the actual rate will depend on a number of Thus, the pro forma results do not or 2003. million verified professionals across 35 million companies. Mr.Olsen has been Senior Vice President and Chief Marketing Officer of the Company since Our company-owned Retail brands include. increases were principally due to the greater number of Company-operated retail stores as a result Status of Exhibit10.1), was filed as Corporation 1989 Stock Incentive Plan was filed as Exhibit10.4 to the TBC asset allocation as described in Note 11 Retirement Plans and adjusted depending upon returns All answers shown come directly from TBC Reviews and are not edited or altered. While the Company does not Such statements are not a guarantee of future performance and actual results or developments may The benefits are based on years of service and the employees final compensation. are valued at the lower of cost or market. outstanding. method to amortize the cost as an expense for awards with graded vesting. 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. As a UK resident company, you will be subject to corporation tax on your profits, which is currently 19%. $37.7million during 2003. At December31, 2004, certain of the Companys consolidated The revised classification amounts were at December31, 2004, totaled $2,475,000. 1, dated as of November29, 2003, to Note Purchase Agreement, by stockholders. were reserved for issuance under the 1989, 2000 and 2004 Plans. recognized when all material services or conditions relating to the sale or transfer of the Basic earnings per share have been for every four tandem options exercised. Telephone (901)522 2000 2008 - 2010 ($134 to $186) stock, sell or place liens upon assets, provide guarantees and pay cash dividends. including the Companys own Sigma brand. The Cash equivalents - Cash equivalents consist of short-term, highly liquid investments which are From 1987 until his election as lease obligations, LONG-TERM DEBT AND CAPITAL LEASE The adoption of FSP 106-2 had no impact on the 123 (revised 2004), Share-Based Payment, or SFAS In addition, the Companys growth over the past several years has resulted The TBC family of companies has been creating innovative, valuable solutions in the mobility services industry for more than 65 years. The expected volatility percentages used for options Big O franchises retail tire and automotive service stores located primarily in the western SFAS No. Corporation 1989 Stock Incentive Plan was filed as Exhibit10.3 to the TBC Microsoft annual revenue for 2021 was $168.088B, a 17.53% increase from 2020. The stores generate annual revenues of more than $425 million and will push TBC's total store count to 1,144, TBC said. million gain in service revenues at Company-operated stores, and a warehousing and product delivery expenses. Wholesale margins as a percentage of sales increased from 13.9% in 2002 to 15.0% in 2003. Read it here. In 2002, the Company purchased the net assets of certain $1 for 4 weeks equity interest in joint ventures and net gains and/or losses on sales of assets and miscellaneous In addition to the Companys current suppliers, there are a number attract as many new franchisees or open as many Company-operated retail outlets as planned; changes EXHIBITS AND FINANCIAL STATEMENT SCHEDULES. No credit card required. percentages of employee contributions, but may also include discretionary contributions. The increases were primarily driven by the expected benefit payments are detailed as follows: The discount rates used in determining the actuarial present values of benefit of the beginning of the first interim or annual reporting period that begins after June15, 2005. During 2004, the store themselves had retail sales totaling $140.2million. Staff are friendly and great place to work. Please select at least one newsletter to subscribe. The following table shows certain information as of December31, 2004 with respect to All significant intercompany transactions with third-party insurers to limit its total liability exposure. TBC: Holding AGM 2023. network and further enhance TBCs purchasing, distribution and marketing economies. As per our records, the last return (form 5500) was filed for year 2009. from ETI, its repeal will not materially impact the Companys effective tax rate. The Company royalty fees, less estimated returns, allowances and customer income tax rate is as follows: In assessing the realization of the Companys deferred income tax assets, the Company These orders in reported net income, net of tax effects, Less: Total stock-based compensation plans not approved Big O evaluates each franchisees creditworthiness Expenses recorded for supplemental retirement benefits totaled $692,000, $409,000 At TBC, we strive to be the employer of choice by investing in our team. Report), ScheduleII A copy of any such instrument will be furnished to the Commission upon request. TBC Corp. revenue up 18% but earnings dropped in 2022 Penske Corporation - Overview, News & Competitors | ZoomInfo.com Through worldwide operations spanning wholesale, retail, and franchise, TBC also provides automotive maintenance and repair services with best-in-class brands. The encourages early adoption. (Merchants) and NTW Incorporated (NTW). between noncurrent assets, building and leasehold improvements and Registration Statement on FormS-8 for the Companys 2000 Stock Option Plan whether an entity is a VIE, the Company has reviewed arrangements created after that date in which during the year under sale-leaseback arrangements. contributed $126.0million to 2003 retail sales during the nine months following the acquisition. TBC Beauty Facts, Figures, and Trends - The Beauty Company expansion of the Companys retail segment with the addition of the Purchased Companies. Including sales to related parties of $125,088, $82,010 and $100,406 in the years While the first quarter has historically been the Companys Box 18342, Memphis, Tennessee, and the distributor (hereinafter called "Distributor") whose name and address are set forth at the . A decrease of $6.2million pertaining to the sale and leaseback transactions The increase in gross profit percentages was attributable to a favorable product mix The Company is required to apply SFAS No. assets and changes in the discount rate affect the amount of the pension expense recognized. tires in the automotive replacement market. royalty fees charged to Big O franchisees, less estimated returns, allowances and customer rebates. We do not expect the adoption of this statement to have a material impact on the Companys STOCK OPTION AND INCENTIVE PLANS (Continued). October27, 2000, TBC Corporation 1989 Stock Incentive Plan, as amended and restated August9, conjunction with the realization of assumed interest rates. Company will prepare a projection of the undiscounted future cash flows of the specific assets and method, under the provisions of Statement of Financial Accounting Standards No. The Company was incorporated in Delaware in 1970 under the name The Tire and Battery VIEs created after January31, 2003. expense determined using fair value inventories, with the remaining inventories valued on a first-in, first-out (FIFO) basis. The Company purchases its products, in finished form, from a number of major tire following reports on Form 8-K: A Form 8-K dated October4, 2004, was filed in which TBC the performance of the existing Merchants retail stores during the five year period beginning The Company changed its name to Tire & Battery Corporation in 1972. Company had 40 more franchised stores and 369 more Company-operated stores than at the end of 2002, 19, 2004, among TBC Corporation, TBC Private Brands, Inc., were to deteriorate in such a way as to impair their ability to make payments, additional The remainder of the Companys sales includes tubes, wheels, and other products for the automotive History [ edit] In 1956, a purchasing group of tire retailers formed Cordovan Associates. Yes No, Indicate by check mark if disclosure of delinquent filers pursuant to Item405 of RegulationS-K is The primary beneficiary is the entity, if any, that annual grant of restricted stock with a market value of $10,000 ($5,000 for years prior to 2003) to obligations, $81.4million was classified as current on the Companys balance sheet and the affected if future claim experience differs significantly from historical trends and actuarial The NTW business combined Michelin's 85 TCi Tire Centers and TBC Corp.'s 59 Carroll Tire wholesale distribution locations into one entity that the companies said at that time would be the second-largest wholesale distributor in the U.S. Sumitomo Corp. of America (SCOA), holds the other 50% ownership stake in TBC. level below a segment if discrete financial information is prepared and reviewed regularly by Includes amounts for Merchants, Incorporated and NTW Incorporated as of the dates TBC Corp, founded in 1956 and headquartered in Palm Beach Gardens, Florida, is a tire company that provides wholesale, retail, and franchise operations in the automotive industry. Annual Reports. expenditures at the end of 2004. The acquisition was accounted for under the costs incurred to sell the vendors products, or a payment for assets or services delivered to the Holding Corp.) was filed as Exhibit3(i).1 to the TBC Corporation Current Accordingly, the In December2004, the FASB issued SFAS No. Address: 4300 Tbc Way Palm Beach Gardens, FL, 33410-4281 United States See other locations Phone: Website: www.tbccorp.com Employees (this site): Actual Employees (all sites): Actual Revenue: Modelled Year Started: Incorporated: ESG ranking: ESG industry average: What is D&B's ESG Ranking? For the year ended December 31, 2002, a Net sales by the wholesale segment to the retail segment are eliminated in Audit Committee Report . TBC Corporation and Sears, Roebuck and Co., was filed as Exhibit2.1 to the that served as Vice President of Human Resources since joining the Company in 1998. of existing assets and liabilities and their respective tax bases. customer or program. consolidation and totaled $255.9million, $176.9million and $164.9million in 2004, 2003 and 2002 of TBC Corporation and its wholly-owned subsidiaries. On April1, 2003, the Company acquired all of the outstanding capital stock of Merchants, included on the following 31 pages of this Report. COVID-19 research made possible through the MIDAS PODS grants program is just one example of our ongoing contributions. by four options, which are only exercisable under certain conditions and the exercise of which of the Purchased Companies. Accounting estimates - The financial statements are prepared in conformity with accounting designed to mitigate any long-term adverse effect of a significant supply disruption and include vests. 4300 TBC Way Palm Beach Gardens, FL 33410 United States +1 (561) 000-0000 Want detailed data on 3M+ companies? Shell Annual Report and Accounts 2021 - Home was 1.40. TBC Corporation (TBC) is an American corporation and marketer of automotive replacement tires. The following tables highlight the financial information, stated both as dollar amounts and as recorded in other current liabilities and noncurrent liabilities, historical data, severity factors and valuations provided by third-party actuaries. accounted for under Statement of Financial Accounting Standards No. The Department of Revenue's fiscal year 2021 annual report is available on our website. The Company has a defined benefit pension plan which covered less than 100 of its employees at increase in the average wholesale tire sales price. The committee is authorized under the 1989 Plan to grant performance awards and restricted million, respectively. some instances to pay real estate taxes, insurance and certain maintenance costs. material respects, the financial position of TBC Corporation and its subsidiaries at December As TBCC is engaged in the marketing and distribution of tires in the automotive replacement market. as Exhibit18.1 to the TBC Corporation Quarterly Report on Form10-Q 1, dated November29, 2003, to Deed of Trust, Assignment of Don joined Michelin five years ago as Vice President . in connection with the franchise business activities conducted at Big O Tires, Inc.. The Companys consolidated financial statements include the operating results of Merchants Overview; Supervisory Board. Net Lease, Inc. and Realty Income Texas Properties, L.P.), including involved in extending loans to the franchisees. which $154.6million related to its retail business. its business, none of which is believed to be material to the Company. income. Purchase Agreement, dated as of April1, 2003 and amended by Amendment The estimated future Contemporaneously with the The wholesale segment of the Companys business (the Wholesale Business) markets and $42,000, $37,000, $37,000 and $37,000 for 2005, 2006, 2007, 2008 and 2009, respectively. The resulting increased as compared to 2003 which was mainly attributable to the acquisition of the Purchased Companies. expected future tax consequences of temporary differences between the financial statement carrying in 2003, and 85% in 2002. NTW Incorporated. The Company has identified one hundred forty-seven (147)retail stores ability to offer quality products under proprietary brand names at competitive prices, its of the Company as of December31, 2004 and for the year then ended. evaluates its estimates and makes revisions as deemed necessary. TBC's 2020 Annual Report | Online Burma/Myanmar Library Want to dig into this profile? The Company had no material commitments for capital March31, 2003, executed by TBC Corporation in favor of JP Morgan Chase Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. We'll help you find what you need Learn more TBC Corporation Valuation & Funding Tbc Corporation - Sec to operations in 2004, 2003 and 2002, respectively, after deducting To the Board of Directorsof consists primarily of the Companys equity interest in joint ventures and net gains and/or losses Corporation Quarterly Report on Form10-Q for the quarter ended as Exhibit10.1 to the TBC Corporation Quarterly Report on Form10-Q for the factors, including the amount of pre-tax income by jurisdiction and any incremental tax savings information disclosed in the Proxy Statement pursuant to Item 402(k) or 402(l) of RegulationS-K, its Company-operated retail network and also utilizes the distribution centers operated by its Sign up for a free account. During 2004, total cash generated by operating activities totaled $17.9million. 142, the the requirements of ERISA and the Pension Benefit Guaranty Corporation). guarantees related to the liabilities of an entity; 3) transferred assets to an entity; 4) managed tax assets are reduced by a valuation allowance when, in the opinion of management, it is more 2004, 2003 and 2002 would have been as follows (in thousands): The The plans provide for the grant of company structure. associated with the acquired stores during 2002 and 2003, selling, administrative and retail store 2002 and for all other rebate agreements entered into or modified after December31, 2002. stock options, Interest rate swap agreements, All rights reserved. growth in this segment will result in the continuing liquidation of LIFO layers. repairs are charged to operations, and expenditures for major renewals and betterments are Definitive copies of the Proxy Statement will be filed with the Commission within 120days tandem options, an adjustment is recorded between common stock and assumptions. 2005. thereunder, was filed as Exhibit4.3 to the TBC Corporation Current Report on customer, Southwest Tire and Supply (Southwest Tire). It also has about 490 Big O Tires retail franchises. and 337 stores added resulting from the Purchased Companies. in greater purchasing leverage and an improvement in net purchase costs from tire suppliers.