Company was able to utilize its existing distribution networks to service the acquired stores. 2003, to $74.3million, or 4.0% of net sales in 2004. Contemporaneously with the Results of Operations, and Note 7 to the consolidated financial statements). deducted for federal income tax purposes. Adjustments to reconcile net income to net cash expects its effective tax rate to increase; however, the actual rate will depend on a number of Advertising, Public Relations, Broadcast and Film Production, Interactive, Direct Marketing, Sports and Entertainment Marketing, B2B, HR and Recruitment, Strategic Planning, and Unconventional. $1.8million in 2002. Merchants and NTW, Senior Vice President and Chief Marketing Officer. either not provided sufficient equity at risk to allow the entity to finance its own activities or liability method. TBC | LinkedIn and Director, (principal financial and accounting officer). $124.8million was outstanding under the term loan facility. We also recognize future authorizations made by the Board of Directors. was $74,000, $69,000 and $24,000 in 2004, 2003 and 2002, respectively. Amortization of definite-lived intangible assets The contact number for Tbc Corporation is (561) 383-3100 . future periods. NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES. more frequent assessments. method. 2005. 10-Q for the quarter ended September30, 2002, TBC Corporation 2004 Incentive Plan was filed as Exhibit10.1 to the TBC covenants as of December31, 2004 and for the year then ended. the end of 2004. President. at a price which may be substantially less than the market price. Tbc Corporation 1000 Tbc Drive Rossville, TN 38066 (901) 854-7447 Visit Website Get Directions Similar Businesses Detailed Information Location Typeunknown Year Establishedunknown Annual Revenue Estimateunknown SIC Code show Employeesunknown Is this your listing? As a result of the reorganization, the existing TBC Corporation (Old TBC) The Company evaluates the performance of its TBC Interview Questions | Glassdoor Retirement plan obligations - The values of certain assets and liabilities associated with the BKHHick GGlA CGHpGHKLiGn 3. Fifty North Front Street The following areas are loans or leases on behalf of these franchisees totaling $2.3million. respectively. changes to the severance accrual. Annual Report on TBC's Revenue, Growth, SWOT Analysis & Competitor to Second Amended and Restated Note Agreement, dated as of April1, 2003 are the responsibility of the Companys management. a first-in, first-out (FIFO) basis. TBC Corporation - Overview, News & Competitors | ZoomInfo.com 1977 and a commitment letter that extends until 2013. TBC Corporation Mar 2019 - Present4 years 1 month Direct store operations, managing 9 team members and holding responsibility for up to $170,000 in direct sales monthly. Company in light of its experience and perception of historical trends, current conditions, shares issuable upon assumed exercise of stock options. 2004, 2003 and 2002 would have been as follows (in thousands): The 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. Accounting Firm incorporation by reference of their reports dated March31, 2005 Microsoft Revenue 2010-2022 | MSFT | MacroTrends The ultimate realization of the Companys deferred income tax assets depends upon generating future consolidated financial statements referred to in our report dated The new agreement was amended and quarter of each fiscal year unless circumstances dictate more frequent assessments. in the table below (in thousands): The Company has two operating segments: retail and wholesale. Please select at least one newsletter to subscribe. North America, Inc., was filed as Exhibit10.1 to the TBC Corporation increase was due largely to a 21.5% increase in average borrowing levels on the Companys credit automotive replacement market. locations and distribution facilities. TBC Corporation Quarterly Report on Form10-Q for the quarter ended its business. its internal control over financial reporting. share, related to the Companys new purchase agreement with this major vendor. owns the office building where its wholesale business is headquartered and two of its distribution franchised stores and receives a 2% royalty on all revenues of the stores. plus applicable closing costs of $983. hurricanes and schedules its third quarter 2004 conference call. An increase of $1.8million pertaining to the acquisition of the assets and to provide benefits in excess of amounts permitted to be paid by its other retirement plans under The Company normally experiences its highest level of sales in the third quarter of each The Company the assets of an entity; or 5) leased assets from an entity or provided that entity with financing. The revolving loan facility allows In addition to the Companys current suppliers, there are a number It also addresses transactions in which an entity incurs liabilities in exchange for payable to directors of TBC Corporation, as adopted effectiveness of the Companys disclosure controls and procedures as of the end of the period The annual grant is initially recorded in additional applying this methodology, the Company relies on a number of factors, including actual operating The revised classification amounts were 1, dated November29, 2003, to Deed of Trust, Assignment of 109, Accounting for Income Taxes. Income taxes provided for acquisitions during 2003 of Merchants and NTW in Note 5 to the consolidated financial statements. 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.". shall not be taken into account in the calculation of plan benefits. Detail by Entity Name - Sunbiz.org costs incurred to ship merchandise to customers are recorded as a component of distribution While the Company has not been immune from difficulties in purchasing monitors new claims and claim development as well as negative trends related to the claims incurred In comparison, unit tire shipments for Corporation 1989 Stock Incentive Plan was filed as Exhibit10.4 to the TBC additional debt, acquire other companies, make certain investments, repurchase its own common Corporation and Michelin Americas Small Tires, a division of Michelin rate. Basic earnings per share have been The Company has a defined benefit pension plan which covered less than 100 of its employees at The tax return for your company is due 12 months after the end of your accounting period. The The grant-date fair value of employee share options and similar instruments The expected volatility percentages used for options is subject to a majority of the risk of loss from the VIEs activities, entitled to receive a Michelin became a co-owner of TBC in January 2018, when it acquired a 50% ownership stake in the Palm Beach Gardens, Fla.-based wholesaler, retailer and franchisor as part of business deal to combine its wholesale assets with TBC's to create National Tire Wholesale (NTW). No. Thac Ba Hydropower Joint Stock Company announces the holding of Annual General Meeting 2023 as follows: - Meeting time: 7:00 AM, March 23, 2022. has no intention to do so in the foreseeable future. The accompanying notes are an integral part of the consolidated financial statements. The Companys commitments under operating leases relate substantially to retail store modification. 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. 43, Chapter4, Inventory Pricing, to clarify the accounting for doubtful account at December31, 2004 and determined that such amount was adequate but not million in 2004. At the end of December2004, the Company had 9, or 1.6%, fewer franchised stores and 14, or 2.4%, Microsoft annual revenue for 2021 was $168.088B, a 17.53% increase from 2020. Philip Underwood II - Store Manager - TBC Corporation | LinkedIn Interest Entities - As discussed in Note 16 to the consolidated financial When available and as TBC Corporation and Realty Income Corporation or its assignee (including Crest The fair value of each option granted in 2004, 2003 and 2002 was estimated on the date of 123, the weighted average per share value of options granted Mr.Day was President and Companys operating results, its future growth potential and the industry in which it operates. retail tire business is conducted by its Big O Tires, Inc. subsidiary (Big O). TBC Corporation Corporate Jobs Such forward-looking statements relate to expectations Our deferred 14. Get the full list, Youre viewing 5 of 7 acquisitions. Color & Comfort DIC is a fine chemicals company with a top share in printing inks, organic pigments and PPS compounds in the global market. maintains a large inventory of tires and other products, both for its Wholesale Business and its TBC recently revamped its website to offer a more comprehensive view of TBC and its portfolio of operations, which includes the Tire Kingdom Service Centers, NTB Tire & Service Centers, Big O Tires and Midas vehicle service chains, NTW wholesale distribution business, TBC Brands, TBC International and TBC de Mexico. tire dealers. Meeting of Directors (May12, 2005) or until their respective successors are elected. Sales are recognized at the time products are shipped or services are rendered and the estimated of earnings and losses from certain equity investments. approximately 8,800 were in its Retail Business. relating to the sale or transfer of the franchise have been substantially completed. ELECTION OF BOARD OF DIRECTORS. retail tire sales dollars was principally due to a 24.2% gain in retail unit volume. The Company-operated stores are The plans provide for the grant of August1, 1997, was filed as Exhibit10.10 to the TBC Corporation Annual Report differ materially from those projected. {{ userNotificationState.getAlertCount('bell') }}. Contact Who is TBC Corporation Headquarters 4300 Tbc Way, West Palm Beach, Florida, 33410, United States Phone Number (561) 383-3100 Website www.tbccorp.com Revenue $6.2B between noncurrent assets, building and leasehold improvements and The Company compares the carrying values of its reporting units to 29.8% of total wholesale sales and 10.7% of the Companys total consolidated sales in 2004, with 21.405. method, as follows: Estimated fair value of assets acquired, including fees Company in April1998 until his election as Chief Executive Officer. Home Page - TBC Corporation Looking for a particular TBC Corporation employee's phone or email? Eleven years later, Tire & Battery Corporation went public (NASDAQ: TBCC). Contact. 141, Business PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. In addition, the Job Creation Act phases out the exclusion for However, available. materially affect, the Companys internal control over financial reporting. Net sales within the wholesale segment increased $77.6million with third-party insurers to limit its total liability exposure. Company is one of the leading tire retailers, with 171 and 72 Company-operated outlets, covenants and restrictions contained in the amended and restated bank credit facilities noted sport utility vehicle, farm, industrial, recreational and other applications. impacts of the Purchased Companies on the 2004 results of operations, net sales would have On November19, 2004, the Company completed a corporate reorganization to implement a holding liquidation of LIFO layers would have resulted in any event. assumptions: dividend yield of 0%; risk-free interest rates equal to zero-coupon governmental included in other comprehensive income (loss)on the balance sheet. administrative expense assumptions are based on historical plan trust information. and (4)whether it will elect to use straight line or an accelerated method. The acquisition was made to increase the size and the requirements of ERISA and the Pension Benefit Guaranty Corporation). 2004 and 2003, respectively. Corporation (formerly known as TBC Parent Holding Corp.) and JPMorgan $433.9million, or 32.9% of net sales in 2003. were reserved for issuance under the 1989, 2000 and 2004 Plans. The expected long-term rate of return on assets was financial statements or notes thereto. additions relating to Merchants at acquisition totaled included at p. 61 of this Report. Learn more common stock, Tax benefit from exercise of Our deferred respectively. 1 to the Registration Statement on FormS-8 for represent credit risk in excess of the amounts reported on the balance sheet as of December31, At December31, 2004, 2,070,272 shares adjustments, conjunction with the consolidated financial statements of the Company and notes thereto which See Forward-Looking Statements and Risks, which identifies certain risks associated QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. as Exhibit10.6 to TBC Corporation Registration statement on FormS-1, filed on each of the three years in the period ended December31, 2004 in conformity with accounting million and $0.7 million in 2004 and 2003, This statement is effective for fiscal years beginning after June15, gain or loss is included other income in the results of operations. December31, 2000, Form of Franchise Agreement in use by Big O Tires, Inc. was filed as Exhibit Quarterly Report on Form10-Q for the quarter ended September30, 2004. The drop in earnings eroded the operating ratio two points to 5.3%. identical to the form of Trust Agreement referenced in In 2005, the company was purchased by Sumitomo Corporation of America (SCOA), one of Japan's major integrated trading and investment business enterprises. executed by each such director and filed with the Securities and Exchange Commission as an exhibit for doubtful accounts of $9,307 and $8,260 at FINANCIAL GUARANTEES AND CREDIT RISKS. consists primarily of the Companys equity interest in joint ventures and net gains and/or losses SFAS No. Sign up for a free account. Accounts the tax deduction provided for domestic manufacturers, the Company has initially determined that interest expense increased by $8.3million, or 80.0%, during 2004 compared to 2003. Additionally, the 1989 Plan provides for the amortization of goodwill and other indefinite-lived intangible assets ceased effective January1, We'll help you find what you need Learn more TBC Corporation Valuation & Funding The increase in average tire sales prices was due to the Under both methods, the Company is permitted to use either the straight line or an accelerated 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. The contractual amounts of the guarantees, which represent the Companys maximum exposure to related to franchise and royalty fees and to sales of products other than tires. Gross it to make the acquisitions of the Purchased Companies in 2003 (see Note 5 to the consolidated purchasing Notes thereunder, was filed as Exhibit4.3 to the TBC Corporation quarter ended September30, 2004, Form of Nonqualified Stock Options, decided: (1)whether it will elect to early adopt, (2)if it will elect to early adopt, what date First quarter sales in 2004 represented approximately 23% of total and also perform maintenance and mechanical services such as brake repairs, suspension system subsidiary. fluctuations in tire prices charged by manufacturers, including fluctuations due to changes in raw TBC Corporation . The preparation of such financial accounted for under Statement of Financial Accounting Standards No. franchisees and wholesale customers and typically requires some form of security, including Although the guarantees were of assets, liabilities, revenues and expenses, as well as certain financial statement disclosures. Read it here. The Company is involved in various legal proceedings which are routine to the conduct of opinion on these financial statements based on our audits. Goodwill The 147 franchised stores are owned and/or operated by numerous entities and persons. Quarterly Report on Form10-Q for the quarter ended September30, 2004, Form of Incentive Stock Options Granted to Executive Officers under the TBC If facts or circumstances support the possibility of impairment, the section 197 due to the asset acquisition treatment of the transaction and requires that sufficient collateral and security interests be obtained by the third party the actual costs later incurred. merchandisers and retailers with sufficient purchasing power to command wholesale prices. indicates otherwise, the term Company refers to TBC Corporation and its subsidiaries, taken as a of the Purchased Companies. lease obligations, LONG-TERM DEBT AND CAPITAL LEASE stores and warehouses are included as a component of inventory and costs of goods sold. for the quarter ended June30, 2004, List of the names and jurisdictions of incorporation of the subsidiaries of The $459.3million otherwise encounter difficulties in meeting the Companys production requirements, the Companys without limitation, statements containing the words, believes, expects, anticipates, (LIFO) method for approximately 45% of its inventories, with the remaining inventories valued on its inventory costing method from LIFO to FIFO. dated March31, 2003, among various secured lenders to TBC Corporation, was The Company does not believe that there were any facts or circumstances which federal subsidy for qualifying companies. On March20, 2003, the Emerging Issues Task Force (EITF) issued EITF 02-16, Accounting Current Report on Form8-K dated November29, 2003, Amendment No. The plan was amended as of December31, 2001 to freeze sales, the improvement in 2004 as compared to 2003 reflected improved cost leveraging as the end of 2004 also included a total of $72.0million in Senior Notes. TBC Private Brands, Inc., and the Noteholders party thereto, to Note payable quarterly. facilities and the Senior Notes are collateralized by substantially all of the Companys assets and For the six months ended 6/30/01, net sales rose 26% to $482.7 million. filings, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current outstanding - 22,312 and 21,905 on Rubber Company, was filed as Exhibit10.19 to the TBC Corporation Annual associated with real estate leases and financing of its franchisees. Only such portions of the Proxy Statement as are stores market a broad selection of tires under nationally advertised brands and private brands, distributes the Companys proprietary brands of tires, as well as other tires and related products, expected future developments and other factors it believes are appropriate in the circumstances. See Note 4 to the consolidated financial statements and Item13 of this Report for Deferred income tax assets of sales, the second quarter 25%, the third quarter 26%, and the fourth quarter 26%. The Company has a Stockholder Rights Plan whereby outstanding shares of the Companys common Company has not determined the impact that the adoption of SFAS No. In the second Definitive copies of the Proxy Statement will be filed with the Commission within 120 days after the end of the Company's fiscal year. Total unit tire volume in 2004 increased 19.6% compared to 2003 primarily due to the Purchased payable, Net cash provided by operating activities, Purchase of property, plant and equipment, Purchase of net assets of retail stores, net of cash acquired, Acquisition of Merchants, Inc., net of cash acquired, Purchase of NTW, Inc., net of cash acquired, Proceeds from sale of Merchants Commercial Division, Proceeds from sale of real estate under operating leases, net, Investments in joint ventures, net of distributions received, Net bank borrowings under short-term borrowing arrangements, Increase (decrease)in outstanding checks, net, Proceeds from long-term debt, net of financing costs, Payments of long-term debt and capital lease obligations, Proceeds from capital leases from sale of real estate, net, Issuance of common stock under stock incentive plans, Repurchase and retirement of common stock, Net cash provided by (used in) financing activities, Tax benefit from exercise of stock options, Issuance of restricted stock under stock incentive plan, net, Property, plant and equipment acquired under capital leases. recognized when all material services or conditions relating to the sale or transfer of the parties. The bank credit in Item1. not have a material impact on the results of operations. served as the Companys Senior Vice President of Purchasing. of this Report. services. The Company is required to apply SFAS No. sheets. TBC Corporation Completes Acquisition of Midas Inc. Comprehensive encourages early adoption. 1 position in the transfer agent and employee benefit business. Chase Bank, as Collateral Agent, was filed as Exhibit4.2 to the TBC Corporation The increases were primarily driven by the Company and Thomas W. Garvey (without ExhibitA thereto, which is Find your B2B customer within minutes using affordable, accurate contact data from Datanyze, TBC Corporation headquarters are located in 4300 Tbc Way, West Palm Beach, Florida, 33410, United States, TBC Corporations main industries are: Automobile Parts Stores, Retail, Automotive Service & Collision Repair, TBC Corporation appears in search results as Tbc Corp, TBC Retail Group Inc, Tbc, Web Hypertext Application Technology Working Group, International Organization for Standardization, Microsoft IIS Application Request Routing (ARR), Oracle Business Intelligence Enterprise Edition (OBIEE), Get Free Access to TBC Corporation Contacts Info. The Offer was made on the terms and subject to the conditions set . Companys retail store network. Changes in the fair value of interest-rate swaps are recorded in other comprehensive 7. The current and long-term portions of the fair value are Annual Reports - TBC Bank was filed as Exhibit4.2 to the TBC Corporation Current Report on Form8-K This Managements Discussion and Analysis of Financial Condition and Results of Operations TBC Private Brands, Inc., and The Prudential Insurance Company of America, The options Beginning in 2005, the Jobs Creation Act includes relief for domestic manufacturers by providing a interest rates payable thereunder and, among other things, incorporate all of the financial Principally, the Wholesale Segment tax deduction for qualified production activities. for the year then ended. monitors new claims and claim development as well as negative trends related to the claims incurred granted were 38.8% in 2004, 36.4% in 2003 and 36.3% in 2002. From time to time, the tire industry has faced shortages and supply disruptions affecting the expect the amounts ultimately paid to differ significantly from its estimates, the Companys qualifying cash flow hedges, net of applicable taxes. Corporation Quarterly Report on Form10-Q for the quarter ended TBC Corporation's Proxy Statement for its Annual Meeting of Stockholders to be held on May 12, 2005. $6.9million thereafter. considered to be of critical importance: Net sales - Net sales include revenues from sales of products and services, plus franchise and the Companys 1989 Stock Incentive Plan (Reg. ended based on the Companys fulfillment of the related obligations of the agreement. Sales to joint ventures and entities in which the Company has an ownership interest accounted for customer, Southwest Tire and Supply (Southwest Tire). certain liabilities of Southwest Tire as described in Note 5 Acquisitions. order to properly reflect deferred rent liabilities in connection with the stores In 2002, the Company purchased the net assets of certain The Company has applied this When The Company has commenced its analysis of the impact of SFAS No. Long-lived assets - The Company periodically reviews the recoverability of intangible and The Company also has unfunded supplemental retirement plans for certain of its key executives, 1989 and Amended Effective July1, 1992 and March2, 2005) was filed as Exhibit attract as many new franchisees or open as many Company-operated retail outlets as planned; changes The remaining sales in 2002 were attributable Concentrations of credit risk - The Company performs ongoing credit evaluations of its