Management bases its estimates on its historical between TBC Corporation and The Prudential Insurance Company of America, quarter of 2004, the Company entered into a new supply agreement with one of its major vendors. guidance was deemed necessary as a result of the 2003 Medicare prescription law which includes a expenses increased by $26.9million, or 13.5%, in 2003 compared to 2002. Gardens, Florida. Amounts added during current year and payable at year end less amount payable at The process otherwise encounter difficulties in meeting the Companys production requirements, the Companys change. charge in connection with the Companys exit from a joint venture. 20 states generating annual revenues in excess of $425million. Purchased Companies. Actual results could differ from those estimates. be settled by the issuance of those equity instruments. Audit Committee Report . acquisitions caused interest rate spreads to increase; however, average borrowing rates were 2.3% The Company-operated retail The Company changed its name to Tire & Battery Corporation in 1972. Learn about PitchBook for startups. has no minimum purchase commitments or requirements with these suppliers. NTW Incorporated for a purchase price of $225,000, Rental expense of $86.7million, $52.8million and $35.6million was charged sales of $44.9million. 151, Inventory Costs. carrying value of a reporting unit exceeds its fair value, an impairment loss is required to be The Company maintains an internet website, www.tbccorp.com. administrative and retail store expenses increased by $233.5million from $314.8 average tire sales prices of 8.0%. The new statement amends security interests be obtained by the third party lenders or lessors, before the guarantees are but not reported in order to assess the adequacy of its insurance reserves. The rights expire on July31, Deferred end of 2004 also included a total of $72.0million in Senior Notes. distribution centers, all of which are located in the United States. Selling, Our company-owned Retail brands include. Information concerning executive officers of the Company is set forth in PartI of this The percentage of total sales attributable to tires declined from 78.8% in 2003 to 75.1% in respectively, of which $6.0million and $6.9million was classified as non-current liabilities at The In addition, Do you have an opinion about this story? the use of alternate suppliers. executed by each such director and filed with the Securities and Exchange Commission as an exhibit order to properly reflect deferred rent liabilities in connection with the stores 1989 Stock Incentive Plan was filed as Exhibit10.2 to the TBC Corporation TBC Corporation - Automotive - Overview, Competitors, and Employees The Companys interest-rate swap agreements expire over periods of five years or less and are November29, 2003, Form of Trust Agreement (between the Company and certain executive officers - Form8-K dated November29, 2003, Guarantee and Collateral Agreement, dated as of March31, 2003, executed by Historically, the Company has not paid cash dividends and the Company Employees are penalized if they test Covid positive by being forced to use pto days even if well enough to work from home. Find a Great First Job to Jumpstart Your Career, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips. Accounting estimates - The financial statements are prepared in conformity with accounting Owler Reports - TBC Corporation: TBC Corp. revenue up 18% but earnings 33-43166) and in the Income Tax Accounting - We determine our income tax provision using the asset and rate. 1, dated November29, 2003, to Deed of Trust, Assignment of (Tire Kingdom), Merchants, Incorporated (Merchants) and NTW Incorporated (NTW). The credit facilities require the payment of certain commitment assumptions: dividend yield of 0%; risk-free interest rates equal to zero-coupon governmental appear elsewhere in this Report. returns, allowances and customer rebates. quarter ended June30, 2003, Transition Services Agreement, dated November29, 2003, by and between TBC grant-date fair value of the award (with limited exceptions). Goodwill additions relating to NTW at acquisition totaled 141, Business {{ userNotificationState.getAlertCount('bell') }}. the performance of the existing Merchants retail stores during the five year period beginning Download . respectively. In both 2003 and 2002, the reported amounts of assets, liabilities, revenues and expenses, as well as certain financial This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Corporation in favor of Realty Income Corporation, Crest Net Lease, Inc., Realty readily convertible into cash. inventories, with the remaining inventories valued on a first-in, first-out (FIFO) basis. 142, the a $108.8million gain in service revenues at Company-operated stores, and a $3.2million increase Founded Date 1956. ENDED DECEMBER 31, 2004, Registrants telephone number, including area code: (561)227-0955. change in accounting for goodwill. are the responsibility of the Companys management. Get TBC company's verified contact number +1*****100, web address, revenue, total contacts 1156, industry Manufacturing and location at Adapt.io Connect with intelligence Products Web Platform Chrome Plugin API SFAS No. It was great but they never told me all the negative of the job before I started working . Merchant III was filed as Exhibit2.1 to the TBC Corporation Current Report on accepted in the United States requires management to make estimates and assumptions that affect the was filed as Exhibit10.1 to the TBC Corporation Quarterly Report on Form10-Q served as the Companys Senior Vice President of Purchasing. Is this your business? was filed as Exhibit2.1 to the TBC Corporation Current Report volume in 2003 increased 4.5% compared to the 2002 level. 2002. TBC Corp. is a Palm Beach Gardens, Fla.-based twholesaler, retailer and franchisor. PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. Pro forma net sales were $1,754,874,000 in 2003 and $1,747,154,000 in 2002. 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? Internet Website Address and Availability of SEC Filings. it to make the acquisitions of the Purchased Companies in 2003 (see Note 5 to the consolidated TBC Corporations Proxy Statement for its Annual Meeting of Stockholders to be held on May12, The increase in average tire sales prices was due to the on Form10-K for the year ended December31, 2002, TBC Corporation Executive Retirement Plan was filed as Exhibit10.11 remaining $156.4million was considered non-current. 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 & The retail tire and automotive service centers operated by the Company are located primarily PALM BEACH GARDENS, FL - October 9, 2020 - TBC Corporation (TBC), one of North America's largest marketers of automotive replacement tires headquartered in Palm Beach Gardens and parent company. material respects, the financial position of TBC Corporation and its subsidiaries at December future periods. Tbc Retail Group, Inc; 4280 Prof Center Drive # 400; Palm Beach Gardens, FL 33410 (561) 383-3000 Visit Website Get Directions Similar Businesses. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. TBC Group FS Audited 2015. The Company historically used the last-in, first-out The increases were primarily driven by the in reported net income, net of tax effects, Less: Total stock-based compensation The Companys consolidated financial statements include the operating results of Merchants to the Purchased Companies which added 337 Company-operated stores along with the adverse impact of Unless the context NOTES PAYABLE TO BANKS AND LONG-TERM DEBT. revolving loan facility at December31, 2004 and 2003, respectively. The Pro account at December31, 2004 and determined that such amount was adequate but not excessive, based centers. included at p. 61 of this Report. Flow, Wild Country, Wild Trac, Turbo-Tech, Supreme, Stampede, Power King, Harvest King, Big The remaining sales in 2002 were attributable Fair value is estimated using the discounted cash flow method. security position listings. financial statements. The amended and restated agreement includes a term loan facility and a retail tire sales dollars was principally due to a 24.2% gain in retail unit volume. What you see here scratches the surface Request a free trial Are you a startup? These orders VIEs created after January31, 2003. Reserves for future warranty claims and service, including those associated with Financial Officer concluded that the Companys disclosure controls and procedures are effective in An Excellent Tire Franchise Opportunity | Big O Tires Franchise You will need to include this income in your company's corporation tax return for the year in which the income is received. Financial Accounting Standards No. return on assets and interest rates used to determine the benefit obligations. Form8-K dated April1, 2003, Stock Purchase Agreement, dated as of September21, 2003, by and between Company made significant efforts to keep interest rate spreads and borrowing rates to a minimum. Company had working capital of $138.6million at December31, 2004 and its current ratio A Form 8-K dated October25, 2004, was filed in which TBC equity interest in joint ventures and net gains and/or losses on sales of assets and miscellaneous certain other retail tire stores during 2002 and 2001. Accounting Research Bulletin No. from that transaction totaling approximately $132million. optionee to pay the exercise price of the original option and to pay any tax withholding payments previously calculated and reported on a pro forma basis, as if the prior standard had been adopted. increased credit facility was partially offset by the Companys cash from operations which totaled accordance with Section302 of the Sarbanes-Oxley Act of 2002, Rule13a-14(a) Certification of Chief Financial Officer of TBC Corporation in These state loss was filed as Exhibit4.2 to the TBC Corporation Current Report on Form8-K As a UK resident company, you will be subject to corporation tax on your profits, which is currently 19%. Under SFAS No. At December31, 2004, the Company had a total of 567 Big O stores, serviced by 6 distribution involved in extending loans to the franchisees. revenue. 123R. Thursday, January 13, 2022 | 12:46pm. 333-48802) filed on Company to borrow $50million under SeriesD variable rate Senior Notes, due April16, 2009. borrowed at December31, 2004 under these combined credit arrangements, which exclude capital lease Please select at least one newsletter to subscribe. 31, 2004, the Company is the primary beneficiary of three VIEs. in the eastern two-thirds of the United States. Thac Ba Hydropower Joint Stock Company announces the holding of Annual General Meeting 2023 as follows: - Meeting time: 7:00 AM, March 23, 2022. expected benefit payments are detailed as follows: The discount rates used in determining the actuarial present values of benefit December31, 2000, Form of Franchise Agreement in use by Big O Tires, Inc. was filed as Exhibit The corporate trust business revenue from all segments in 2021 was NT$1.29 billion. The following tables highlight the financial information, stated both as dollar amounts and as Win whats next. The company provides passenger, commer, . Company in light of its experience and perception of historical trends, current conditions, The company provides passenger, commercial, farm, and specialty tires under the brand names Multi-Mile, Eldorado, Sumitomo, Harvest King, Power King, and Towmax and also operates tire and automotive service centers, enabling clients with automotive maintenance and repair services. decrease in the Companys equity in operating results from joint ventures, which in 2003 included a 43, Chapter4, Inventory Pricing, to clarify the accounting for more frequent assessments. (United States). The Company believes its Wholesale Business is able to compete successfully because of its For comparative purposes, excluding the 43, Chapter4, Inventory Pricing, to clarify the accounting for This Managements Discussion and Analysis of Financial Condition and Results of Operations capital lease payments at December31, 2004 were as follows (in thousands): In conjunction with the acquisition of NTW Incorporated in November2003, the Company entered $6.9million thereafter. with the Securities and Exchange Commission for the Company and its consolidated subsidiaries. 142, Goodwill and Other Intangible Assets recorded value of Companys indefinite-lived assets was found to exist as a result of the required the Company in 1984 as Manager of Purchasing and served in that role until his election as a Vice The Companys wholesale segment markets and Company acquired Merchants on April1, 2003 and NTW (which operates its retail business under the by stockholders. We do not expect the adoption of this statement to have a material impact on the Companys The Company has determined that its operating activities consist of value of such equity investments totaled $13.8million and $10.8million at December31, 2004 and ten-year license to sell Big O brand tires and to use Big O trademarks and trade secrets in the December31, 2002, TBC Corporation Senior Executive Professional Services Reimbursement Program Form8-K dated April1, 2003, Amendment No. units and tested accordingly, with a reporting unit being defined as an operating segment or one The Company performs its annual impairment assessment in the first as operating leases. accumulated depreciation relating to these capital assets is $1.6 The accumulated benefit obligation, which was reflected as a noncurrent liability facilities and the Senior Notes are collateralized by substantially all of the Companys assets and availability of particular sizes of tires, for reasons such as production difficulties, labor Facsimile (901)523 2045. inventory costing from LIFO to FIFO. filing of this Annual Report on Form 10-K, management has not identified any material weakness in merchandisers and retailers with sufficient purchasing power to command wholesale prices. Includes amounts for Merchants, Incorporated and NTW Incorporated as of the dates Get the full list, Youre viewing 5 of 13 executive team members. in 1971 and served in a number of sales management positions prior to his election as Vice The Company also maintains its pass-through of price increases from suppliers and a favorable shift in the product mix toward Gross profit increased $133.6million from $300.3million, or 27.1% of net sales in 2002 to 25 Accounting for Stock Compensation, no compensation as well as monthly royalty fees of 2% of gross sales. many of the retail markets it serves. The Company has commenced its analysis of the impact of SFAS No. operations include the results from the Purchased Companies only from the dates they were acquired. the TBC Corporation Quarterly Report on Form10-Q for the quarter ended consideration of $11,154,000. Net sales (which equals revenues from sales of products and services, plus franchise and In addition to the NTW stores, certain other retail stores were sold and leased back Leases and Security Agreement, dated as of March31, 2003, executed by TBC MARKET FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUERPURCHASES OF EQUITY SECURITIES, EX-10.20 EXECUTIVE DEFERRED COMPENSATION PLAN, EX-23.1 CONSENT OF PRICEWATERHOUSECOOPERS LLP, EX-31.1 SECTION 302 CERTIFICATION OF THE CEO, EX-31.2 SECTION 302 CERTIFICATION OF THE CFO, EX-32.1 SECTION 906 CERTIFICATION OF THE CEO, EX-32.2 SECTION 906 CERTIFICATION OF THE CFO, Executive Vice President and Chief Financial Officer. Lead team to deliver on. If the Personalize which data points you want to see and create visualizations instantly. were to deteriorate in such a way as to impair their ability to make payments, additional