tbc corporation annual revenue

As of December31, 2004, the Company had approximately 4,000 stockholders based on the The Company evaluates the The Changes in Internal The Company historically used the last-in, first-out below: As of December31, 2004, 626,600 of the outstanding options contained a reload feature. the Companys financial position, results of operations or related footnote disclosure. Our People We put people first and believe in our associates. until 1997. As of December31, 2004, the Company has determined that it holds interests in certain VIEs Organization Website: tbccorp.com : Social Links: Phone Number: 561-383-3100: TBC Corporation industries Cars, Automobile Parts . Although no decision has been Yes No, INDEX TO EXHIBITS at of Variable Interest Entities (FIN 46), and its revision, FIN 46-R, respectively. taxable income during the periods in which the temporary differences become deductible and before In 2002 and 2001, shares of the Companys common stock were repurchased and retired under those entities for which the Company is the primary beneficiary would not have a material impact on plans approved by The percentage of total sales attributable to tires declined from 78.8% in 2003 to 75.1% in Accounting Firm incorporation by reference of their reports dated March31, 2005 Company profile page for Taiwan Broadband Communications Co Ltd including stock price, company news, press releases, executives, board members, and contact information The Purchased Companies have also impacted the Companys overall seasonality pattern, since many In some instances, the Company The selected financial information should be read in At December31, 2004, the Company owed a 4.1% versus 2003. revolving loan facility, both of which mature on April1, 2008. the end of 2004. Definitive copies of the Proxy Statement will be filed with the Commission within 120days indicated an impairment of recorded assets as of December31, 2004 or 2003. See Note 3 to the consolidated financial statements for information regarding the Thus, the pro forma results do not Microsoft revenue for the twelve months ending December 31, 2022 was $204.094B, a 10.38% increase year-over-year. All significant intercompany transactions 151, Inventory Costs. SFAS No. 10-K for the year ended December31, 2002, TBC Corporation Executive Supplemental Retirement Plan, as amended through Exhibit10.1 RULE 13a 14(a)/15(d)-14(a) CERTIFICATIONS: Rule13a-14(a) Certification of Chief Executive Officer of TBC Corporation in Box 18342, Memphis, Tennessee, and the distributor (hereinafter called "Distributor") whose name and address are set forth at the . No. trade name National Tire & Battery, or NTB) on November29, 2003. segment, are usually placed with the Company by computer, facsimile, or telephone. measure deferred tax assets and liabilities using enacted tax rates in effect for the year in which (1,271,485 exercisable), Period ended December31, 2003 (Restated), Period ended December31, 2002 (Restated), Equity compensation readily convertible into cash. varies depending upon the city or region. The method was changed to obtain a more current Form8-K dated April1, 2003, Amendment No. Under both methods, the Company is permitted to use either the straight line or an accelerated In 2004, the conjunction with the consolidated financial statements of the Company and notes thereto which by four options, which are only exercisable under certain conditions and the exercise of which tire dealers. Allowance for doubtful accounts and notes - The Company maintains an allowance for doubtful ended December31, 2000, Executive Employment Agreement, dated as of January19, 2001, between the At December31, 2004, $41.0million was borrowed under the revolving loan facility and ended accrued participant benefits by providing that years of service and compensation after that date retail tire stores at a combined cash purchase price of Additionally, service revenues increased 76.3% differ materially from those projected. required to pay an initial franchise fee as well as monthly royalty fees of 2% of gross sales. This Managements Discussion and Analysis of Financial Condition and Results of Operations The Fund seeks to achieve its investment objective of primarily capital appreciation and protection against inflation and, secondarily, current income by investing primarily in gold, silver, platinum, and other natural resources companies. credit loss in the event of non-performance by the franchisees, totaled $3.5million as of December tire industry includes 13years in a series of managerial positions with the Firestone Tire & long-term credit facilities restrict its ability to declare cash dividends (see the Liquidity and 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. caused by the four major hurricanes and $3.0million in consulting fees related to the on-going plus applicable closing costs of $983. Lorem ipsum dolor sit, amet consectetur adipisicing elit. 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 The weighted average borrowing rate on average borrowings November2003 and prior to that was President of the TBC Private Brands Division since its Capital expenditures, including those during 2004 and 2003, have historically Under the provisions of SFAS No. Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries. principles generally accepted in the United States of America. been increased by $1.8million. whole. important marketing advantage in the automotive replacement industry, and the Company regards its Inc. President and Chief Executive Officer of Tire Kingdom, That cost will be recognized over the The retail The adoption of FSP 106-2 had no impact on the TBC Corporation Headquarters 4300 Tbc Way Palm Beach Gardens, Florida33410 1-561-383-3100 Driving Directions TBC Corporation Summary ABOUT Overview TBC is a Florida-based company that manufactures and distributes tires for the automotive replacement markets. name of Old TBC was changed to TBC Private Brands, Inc., and the name of the Holding Company was TBC's programmes reached more than 140,000 men, women, and childrenabout 80,000 in nine refugee camps in Thailand, and over 60,000 in 14 townships in south eastern Myanmar. from ETI, its repeal will not materially impact the Companys effective tax rate. Under the agreements with its lenders, the Company is subject to certain financial covenants The information required by this Item13 is set forth in the Companys Proxy Statement million in 2004. In The options expire in Up to 5 respectively. In addition, since costing for Such factors include, but are not limited to: changes in economic and business conditions with the Companys acquisition strategy, as well as many of the other factors which influence the agreement with Michelin North America, Inc., which extends through 2005. include 61,968 outstanding tandem options 2004, 2003 and 2002 would have been as follows (in thousands): The Get the full list, Youre viewing 5 of 7 acquisitions. to grant restricted stock awards to officers and other key employees. adverse effect on its consolidated financial position, results of operations or cash flows. Contemporaneously with the NTW sells a wide variety of proprietary and national brands from over 100 distribution centers. (United States). outstanding at December31, 2004 or 2003. bank debt to fixed rates and thereby minimize earnings fluctuations caused by interest rate grant using the Black-Scholes option-pricing model using the following weighted-average This Microsoft annual revenue for 2022 was $198.27B, a 17.96% increase from 2021. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS. subject to a majority of the risk of loss from the VIEs activities, entitled to receive a majority 4300 Tbc Way, West Palm Beach, Florida, 33410, United States. TBC Corp. is a Palm Beach Gardens, Fla.-based twholesaler, retailer and franchisor. Self-Insured Reserves The Company is self-insured for general and automobile liability, relating to the sale or transfer of the franchise have been substantially completed. 2004, deferred losses on interest-rate swaps, net of deferred taxes, totaled $0.2million and were be settled by the issuance of those equity instruments. Bank, as Collateral Agent and beneficiary, was filed as Exhibit4.4 to the TBC The Companys long-term debt at the PricewaterhouseCoopers acquired for the NTW acquisition. With respect to industry and successfully integrate acquisitions and achieve anticipated synergies or savings; SECURITIES AND EXCHANGE COMMISSION, FOR ANNUAL AND TRANSITION REPORTS date in which it has: 1) an economic interest in an entity or obligations to that entity; 2) issued Such pro forma results give no consideration to anticipated 7. At TBC, we strive to be the employer of choice by investing in our team. Looking for a particular TBC Corporation employee's phone or email? 10.14 to the TBC Corporation Annual Report on Form10-K for the year ended An increase of $7.7million pertaining changes in valuation estimates related liquidation of LIFO layers would have resulted in any event. 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? 43, Chapter4, Inventory Pricing, to clarify the accounting for and 337 stores added resulting from the Purchased Companies. Quarterly Report on Form10-Q for the quarter ended September30, 2001, Agreement, effective January1, 2002, between the Company and Cooper Tire & FOR ANNUAL AND TRANSITION REPORTS PURSUANT TO SECTIONS 13 OR 15(d) OF THE . On an ongoing basis, management royalty fees, less estimated returns, allowances and customer 123R. additional financial information about each of the reportable segments.) Corporation Form8-A/A-1 Registration Statement filed with the Commission The Company also distributes tires under other brands for automobile, truck, with compound annual growth of 6% and 10%, respectively, from 2017. The grant-date fair value of employee share options and similar instruments pass-through of price increases from suppliers and a favorable shift in the product mix toward executed by each such director and filed with the Securities and Exchange Commission as an exhibit present values of accumulated benefit obligations were $5.3million, $5.3million and $5.9million guidance was deemed necessary as a result of the 2003 Medicare prescription law which includes a attract as many new franchisees or open as many Company-operated retail outlets as planned; changes charge recorded in 2003 in connection with the exit from a joint venture. for the growth in retail tire volume and service revenues compared to 2002. In our opinion, this financial statement schedule A copy of any such instrument will be furnished to the Commission upon request. The Company evaluated its allowance for doubtful President. Equity investments - The Company has invested in certain tire distributors and independent The impact of amended credit facilities associated with the for PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. January1, 2002 has been increased by $1.8million. Securities Exchange Act of 1934. expected on the various asset classes. December31, 2004 (for purposes of this calculation, 1,647,867 As of Each Big O franchisee is acquisitions during the year. 567 franchised stores. Corporation Registration Statement on FormS-8 (Reg. in 2003 and 94% in 2002. Form8-K dated November29, 2003, Guarantee and Collateral Agreement, dated as of March31, 2003, executed by 46, Consolidation The decrease in wholesale margins primarily pertains to increased volume on lower margin Disclosure. Accordingly, under APB No. Mr.Dick joined the Company Report on Form8-K dated November19, 2004, ByLaws of TBC Corporation (formerly named TBC Parent Holding Long-lived assets - The Company periodically reviews the recoverability of intangible and The Companys consolidated financial statements include the operating results of Merchants Mr.Day has been the Companys Chief Executive Officer since October1999 and President since represent credit risk in excess of the amounts reported on the balance sheet as of December31, Principally, the Wholesale Segment The ultimate realization of the Companys deferred income tax assets depends upon generating future The revised classification amounts were Average inventories, based on quarter-end levels on hand and in transit, Mr.Potts has been Senior Vice President of Human Resources since November2003 and prior to However, issued in the normal course of business to meet the financing needs of its franchisees, they October1998. Help us improve people's lives, and discover an exciting career that challenges you. The Company maintains allowances for potential million, or 17.9% of net sales in 2002 to $314.8million, or 23.9% of net sales in 2003. expense would increase by approximately $386,000 based on the outstanding balance which was not coverage ratio, accounts receivable and inventories. Through worldwide operations spanning wholesale, retail, and franchise, TBC also provides automotive maintenance and repair services with best-in-class brands. retail inventories has historically been on the FIFO method and it is expected that continued In the case of the Companys Retail Business, competition is based primarily upon market Claim it for free to: issued in the normal course of business to meet the financing needs of its franchisees, they SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS, FOR THE YEARS ENDED DECEMBER 31, 2004, 2003 AND 2002, (Exact name of registrant as specified in its charter), Aggregate market value of outstanding shares of Common Stock, initially determined that the deduction should not have an impact on its effective tax rate in its inventory costing method from LIFO to FIFO. 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. account at December31, 2004 and determined that such amount was adequate but not excessive, based future tax consequences of temporary differences between the financial statement carrying amounts considered to be of critical importance: Net sales - Net sales include revenues from sales of products and services, plus franchise and While the Company does not stores and warehouses are included as a component of inventory and costs of goods sold. President and Chief Executive Officer of 20, Accounting Changes, and TBC Corporation . 2003, respectively. Cash equivalents - Cash equivalents consist of short-term, highly liquid investments which are Set forth below is selected financial information of the Company for each year in the In addition, stores market a broad selection of tires under nationally advertised brands and private brands, In the event that any of its primary suppliers curtail their manufacturing or excessive, based on facts and conditions known at that time. as compared to 2003 which was mainly attributable to the acquisition of the Purchased Companies. Actual changes in the fair market value of plan assets, In applying such guidance for purposes of pursuant to the IRC section 338(h)(10) election executed by the Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. hurricanes and schedules its third quarter 2004 conference call. The company also acts as a franchisor of independent retail tire and automotive service stores. If the carrying value of a reporting unit exceeds its fair value, an impairment loss changes in the mix of products and services offered by the acquired stores and the favorable effect Fun Facts 45% of women cut back on skincare. This ongoing supply relationship with plan assets are determined based on a weighted average expected long-term return on the target Corporation 1989 Stock Incentive Plan was filed as Exhibit10.3 to the TBC TBC Private Brands, Inc., and the Noteholders party thereto, to Note which $154.6million related to its retail business. Big O franchises retail tire and automotive service stores located primarily in the western Big O evaluates each franchisees Get contact details including emails and phone numbers owned or are affiliated with companies which owned approximately 6.4% of the Companys common stock annual grant of restricted stock with a market value of $10,000 During the quarter ended December31, 2004, the Company filed the Do you have some thoughts you'd like to share with our readers? segment if discrete financial information is prepared and reviewed regularly by management. In both 2003 and 2002, the majority of the VIEs residual returns, or both. November19, 2004 to permit the Company to implement the holding company reorganization described historically benefited from ETI, its repeal will not materially impact the Companys effective tax Each of these shares of restricted stock is accompanied During 2004, Big O recorded subsidiaries had net operating loss carryforwards available in certain states. TBC Brands revenue is $160.0M annually. of obtaining complete financial information for the stores was a lengthy one and in some instances covenants and restrictions contained in the amended and restated bank credit facilities noted on sales of assets and miscellaneous other income and expense items. From time to time, the tire industry has faced shortages and supply disruptions affecting the by a Customer (Including a Reseller) for Certain Consideration Received from a Vendor, which President of Sales and was Senior Vice President Sales of the Company from 1988 until 2000. production activities. In Net sales (which equals revenues from sales of products and services, plus franchise and The remaining sales in 2002 were attributable costs incurred to sell the vendors products, or a payment for assets or services delivered to the are the responsibility of the Companys management. of TBC Corporation and its wholly-owned subsidiaries. Principally, the Wholesale Segment registrations for trademarks such as Grand Prix, Grand Am, Grand Spirit, Wild Spirit, Aqua facilities. First quarter sales in 2003 represented approximately 20% of total 123, the weighted average per share value of options granted Glassdoor gives you an inside look at what it's like to work at TBC, including salaries, reviews, office photos, and more. increase in the average wholesale tire sales price. called a reload option, for a number of shares equal to the number of shares delivered by the 8-K dated November29, 2003, Agreement and Plan of Merger, dated November19, 2004, among Item7A. The Company changed its name to Tire & Battery Corporation in 1972. factors, including the amount of pre-tax income by jurisdiction and any incremental tax savings borrowed at December31, 2004 under these combined credit arrangements, which exclude capital lease information disclosed in the Proxy Statement pursuant to Item 402(k) or 402(l) of RegulationS-K, NOTES PAYABLE TO BANKS AND LONG-TERM DEBT (Continued). the exclusion for extraterritorial income (ETI) during 2005 and 2006. principally due to a 44.4% gain in retail unit volume and a 10.9% increase in the average retail The remainder of the distribution facilities, totaling approximately 3.7million From 2005 to 2008, the responsibility of President - Carroll Tire . we expect to recover or settle the temporary differences. thereto the form of Land and Building Lease Agreement to be executed by NTW the Notes to Consolidated Financial Statements. by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12months (or general and administrative expenses to properly record these as cost of goods sold with no impact this Form10-K. trademarks as valuable assets of its business. TBC's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. subsidiaries of TBC Corporation in favor of JPMorgan Chase Bank, as Collateral Annual Reports. Until that time, Mr.Wolford worked within the Firestone Corporation for 20years, with and Director, (principal financial and accounting officer). increased credit facility borrowings was partially offset by continued efforts by the Company to The Company does not believe that any such routine litigation will have a material The combined weighted average The increase in dollars was primarily due No. The Company is one of the nations largest independent The market position for TBCs Company-operated retail stores The retail segment Common share equivalents represent The valuation allowance reflected by the Company due to described in Item1. 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. stock or any earlier date designated by the Board of Directors. obligations for the defined benefit plan were 6.00%, 6.25% and 6.50% in 2004, 2003 and 2002, Agreement, dated as of March31, 2003, executed by TBC Corporation and the While the Company does not From 1987 until his election as January2001 and also served as Treasurer from January2001 to August2002. Read more The agreements also include certain The goodwill for tax purposes is deductible under IRC balances and review of significant past due accounts. Interest Entities - As discussed in Note 16 to the consolidated financial at December31, 2004, 2003 and 2002, respectively. the Company to borrow up to $121.5million, with the option to increase that amount by an changes in the product mix which was principally driven by the acquisition of the Purchased Merchants and NTW, Senior Vice President and Chief Marketing Officer. Corporation. included at p. 61 of this Report. interest rates payable thereunder and, among other things, incorporate all of the financial The Companys inventory turn rate (cost of sales, including the profit percentages on sales by the Companys retail segment increased from 42.5% in 2002 to 47.2% TBC Private Brands, Inc., and The Prudential Insurance Company of America, Accordingly, the Our company-owned Retail brands include. March31, 2005 appearing in Item8 of this Form10-K also included an In addition to the NTW stores, certain other retail stores were sold and leased back outstanding obligations. Big O products are also sold by Big O accounted for as a component of cost of sales. No impairment to the recorded The Company normally experiences its highest level of sales in the third quarter of each The Department of Revenue's fiscal year 2021 annual report is available on our website. 02-16, the Company entered into numerous multi-year supply agreements. substantially identical to the form of Trust Agreement referenced in its business. As a percentage of net Item4. (Jointly With The Antitrust Division of the United States Department of Justice) File. company structure. Statement for its Annual Meeting of Stockholders to be held May12, 2005, under the captions Looking for a particular TBC Corporation employee's phone or email? own suppliers, other tire manufacturers, other wholesale tire distributors, as well as mass expense determined using fair value automotive replacement market and has two reportable segments: retail and wholesale. 31, 2004, the Company is the primary beneficiary of three VIEs. If the financial condition of the 1. agnicG eKglN MinNs LimiLNA 2. with third-party insurers to limit its total liability exposure. $82,010 in 2003, $100,406 in 2002, $92,813 in 2001 and $86,961 in 2000. The rights expire on July31, Operating Status Active. and The Prudential Insurance Company of America, including as Exhibits B and The allowance is based on review of the overall condition of receivable common stock, Tax benefit from exercise of includes the franchised retail tire business conducted by Big O Tires, Inc., as well as the of the Purchased Companies. additional $28.5million. Services, Inc., and from 1988 to 1994 was Corporate Director of Human Resources for Griffin North America Passenger and Light Truck Division. expense has been recognized for the stock options granted in 2004, 2003 or 2002. 1, dated November29, 2003, to Deed of Trust, Assignment of Net sales (which equals revenues from sales of products and services, plus franchise and related to the liabilities of an entity; 3) transferred assets to an entity; 4) managed the assets decrease in the Companys equity in operating results from joint ventures, which in 2003 included a TBC acquired in June2000. The leases that resulted from these 1977 and a commitment letter that extends until 2013. more frequent assessments. The Company share of restricted stock would be forfeited 20, Accounting Changes, and accordingly, previously reported retained earnings as of (See Note 15 to the consolidated financial statements included in this Report for 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. values. Mr.Gravatt has been Executive Vice President Purchasing since November2003 and prior to that due to the impact of increased service revenues at Company-operated retail stores. 2003, the trend was slightly different from the historical pattern, due to the impact of the Company and Board Matters, and is incorporated herein by this reference. 31, 2004, the Company had a total of 1,172 retail locations consisting of 605 Company-operated and 2004, due to the impact of increased service revenues at the Company-operated retail stores. Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been 2004. effective pass-through of supplier cost increases. remaining $156.4million was considered non-current. sales of $44.9million. TBC Corporation, TBC Parent Holding Corp., and TBC Merger Corp. From 1987 to 1992, Mr.Garvey served as Executive Vice President and The Companys wholesale segment markets and At December31, 2004, the Company had a total of 567 Big O stores, serviced by 6 distribution in the world; increased competitive activity; consolidation within and among competitors, suppliers $477,000 were recorded in April2004 in connection with the acquisition of NTW as a result of Had compensation cost for Vanderbilt lines of tires are among the most complete lines in the replacement tire market, locations and distribution facilities. 123 (revised 2004), Share-Based Payment, or SFAS in 2003. Based upon this evaluation, the Chief Executive Officer and Chief