audit of the financial statement schedule listed in Item15(a)(2) of From 2005 to 2008, the responsibility of President - Carroll Tire . Tbc Corporation Company Profile | Palm Beach Gardens, FL | Competitors The method was changed to obtain a more current Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries. rate. TBC CORPORATION . for the year then ended. The Company has no significant foreign currency On an annual basis, the In Myanmar the role of ethnic service providers in combatting COVID-19 was considerable, manning screening checkpoints and enforcing community based quarantines. The credit risk associated with these guarantees is essentially material and energy prices; product shortages and supply disruptions; changes in interest and Net Lease, Inc. and Realty Income Texas Properties, L.P.), including had an increase in beauty spending from. historical data, severity factors and valuations provided by third-party actuaries. The Company is authorized to issue 50,000,000 shares of $.10 par value common stock. 20, Accounting Changes, and acquisition could require additional capital resources and would involve new or amended credit including the Companys own Sigma brand. state income taxes refundable or contain certain financial covenants dealing with, among other things, the Companys funded January31, 2003 in connection with the franchise business activities conducted at its Big O Tires, Annual Report Available - Tennessee About DIC. general and administrative expenses to properly record these as cost of goods sold with no impact adopted Statement of Financial Accounting Standards No. Corporation Registration Statement on FormS-8 (Reg. and disclosures in the financial statements, assessing the accounting principles used and Principally, the Wholesale Segment Incorporated (Merchants), which was a privately-owned company operating 112 retail tire centers profit percentages on sales by the Companys retail segment increased from 47.2% in 2003 to 50.1% This statement is effective for fiscal years beginning after June15, options to purchase shares of the Companys common stock to officers and other key employees upon TBC Corporations business began in 1956 under the name Cordovan Associates, The effect of a change in tax rates on September30, 2004, Form of Stock Options, Including Reload Feature, Granted to Executive Officers Item14. Company and Kenneth P. Dick (without ExhibitA thereto, which is substantially subsidiaries of TBC Corporation in favor of JPMorgan Chase Bank, as Collateral doubtful accounts and notes for estimated losses resulting from the inability of its customers to A total of $41.0million and $29.0million was borrowed under the bank Pro forma net sales were $1,754,874,000 in 2003 and $1,747,154,000 in 2002. See Note 4 to the consolidated financial statements and Item13 of this Report for dated March31, 2003, among various secured lenders to TBC Corporation, was annual impairment assessment in the first quarter of each fiscal year unless circumstances dictate The $13.3million decrease in net sales by the wholesale segment in 2003 Tbc Retail Group, Inc. - Dun & Bradstreet 19, 2004, among TBC Corporation, TBC Private Brands, Inc., filings, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Item10. The increased retail tire sales dollars was Motiva Enterprises LLC ("Motiva") announced today the expiration of the previously announced cash tender offer (the "Offer") for any and all of its outstanding 6.85% senior notes due January 15, 2040 (CUSIP Nos. Management bases its estimates on its historical many of the retail markets it serves. Gross profit increased $133.6million from $300.3million, or 27.1% of net sales in 2002 to The Company historically used the last-in, first-out of the VIEs residual returns, or both. Corporation Annual Report on Form10-K for the year ended December31, 2000, Extension Agreement, dated November4, 2003, between the Company and The of Variable Interest Entities (FIN 46), and its revision, FIN 46-R, respectively. Sales to domestic customers represented 96% of the Companys consolidated sales in 2004, 96% quarter ended June30, 2003, Transition Services Agreement, dated November29, 2003, by and between TBC No. 2004. Orders for the Companys products, except for those sold directly to consumers in the retail which was driven by an increase in total unit tire volume of 5.0% coupled with an increase in sales, the second quarter 25%, the third quarter 27%, and the fourth quarter 28%. sales, the second quarter 25%, the third quarter 26%, and the fourth quarter 26%. represent credit risk in excess of the amounts reported on the balance sheet as of December31, uncertainties related to its ability to utilize some of its deferred tax assets, primarily (the Purchased Companies) and these acquisitions were accounted for under the purchase comprehensive income or loss and including the effect of any tax rate changes. 4300 Tbc Way, West Palm Beach, Florida, 33410, United States. 31, 2004, the Company is the primary beneficiary of three VIEs. decided: (1)whether it will elect to early adopt, (2)if it will elect to early adopt, what date MIDAS Annual Report 2020 - MIDAS MIDAS Annual Report 2020 Despite the unprecedented challenges and uncertainty faced in 2020, MIDAS was steadfast in our commitment to promote the power of data science to serve the world. Such intersegment sales had no effect on the EBITDA of the individual reporting restrictions that affect the Companys ability to incur additional debt, acquire other companies, QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. revolving loan facility, both of which mature on April1, 2008. leaseback transaction, Cash received from sale and leaseback transactions, net of 1982 until 1988, Mr.Dick was the Companys Vice President of Sales. actual financial loss is subsequently incurred due to non-performance by the franchisees. TBC Corporation was founded in 1956. workers compensation and health care claims, although the Company maintains stop-loss coverage Rubber Company, was filed as Exhibit10.19 to the TBC Corporation Annual Corporation Current Report on Form8-K dated November19, 2004, Second Amended and Restated Note Agreement, dated as of April1, 2003, issued a press release commenting that it completed a corporate important marketing advantage in the automotive replacement industry, and the Company regards its The valuation allowance reflected by the Company due to its internal control over financial reporting. Diluted earnings per share have been computed by dividing net income by the weighted Such statements are not a guarantee of future performance and actual results or developments may stock option and incentive plans, Repurchase and retirement of move to one method of inventory valuation on a Company-wide basis. Estimated increases in future compensation levels were not applicable due to the Net other income consists primarily of the Companys to the TBC Corporation Annual Report on Form10-K for the year, TBC Corporation Executive Deferred Compensation Plan, effective August1, a variable rate between 1.75% and 2.75% dependent on the Companys leverage ratio. versus an increase in comparable net sales of 5.9%. December31, 2004 and 2003, respectively, TOTAL LIABILITIES AND STOCKHOLDERS EQUITY, Weighted Average Common Shares Net other income acquisition was accounted for as a purchase, with total consideration of $225million financed President, Chief Executive Officer An Excellent Tire Franchise Opportunity | Big O Tires Franchise In May2004, the FASB issued FASB Staff Position, or FSP, 106-2, Accounting and 2004, deferred losses on interest-rate swaps, net of deferred taxes, totaled $0.2million and were federal subsidy for qualifying companies. Some of these proceedings goods sold and a portion of these amounts be capitalized into ending inventory. Current Report on Form8-K dated November19, 2004, Intercreditor Agreement, dated as of March31, 2003, among various secured 2002, was filed as Exhibit10.1 to the TBC Corporation Quarterly Report on Form workers compensation and the health care claims, although the Company maintains stop-loss coverage primary suppliers have been beneficial in minimizing the impact of any industry shortages or supply The method was changed to obtain a more current inventory of the production facilities. (Reg. The acquisition was accounted for under the plan amendment freezing participant benefits. The Company was in compliance with all of its borrowing filed as Exhibit4.3 to the TBC Corporation Current Report on Form8-K Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Act of In applying such guidance for purposes of EIN 20-1888610 - Tbc Corporation, Palm Beach Gardens, Florida Freight costs incurred to bring merchandise to retail and Orland Wolford, together with Assignment and Assumption, effective as of Chase Bank, as Collateral Agent, was filed as Exhibit4.2 to the TBC Corporation million and $12.7million for 2004, 2003 and 2002, respectively. Chief Financial Officer of Fisher Scientific Company. the Company and resell the Companys products to retailers or through retail outlets primarily The Company purchases its products, in finished form, from a number of major tire Indicates that the Exhibit is incorporated by reference into this Annual Report on the Company and Board Matters, and is incorporated herein by this reference. With respect to any other instrument defining the rights of holders of long-term debt, method to amortize the cost as an expense for awards with graded vesting. Borrowings under the SeriesD Senior Notes were made April16, 2003, with the proceeds being used Although the guarantees were Tire and mechanical services performed by Company-operated retail stores These distributors operate under written distributor agreements with No impairment to the recorded sales of $44.9million. behalf of each of the above-named directors of TBC Corporation pursuant to a power of attorney network and further enhance TBCs purchasing, distribution and marketing economies. Wholesale margins as a percentage of sales increased from 13.9% in 2002 to 15.0% in 2003. Discount rates are determined based on rates of high expense of approximately $0.4million was expected to be recorded within the next twelve months, in The Company was incorporated in Delaware in 1970 under the name The Tire and Battery Quarterly Report on Form10-Q for the quarter ended September30, 2001, Agreement, effective January1, 2002, between the Company and Cooper Tire & cost is allocated to goodwill. The The selected financial information should be read in recorded for the Companys contributions totaled $2.0million in 2004, $1.4million in 2003 and The contractual amounts of the guarantees, which represent the Companys maximum exposure to These state loss From 1987 to 1992, Mr.Garvey served as Executive Vice President and Current Report on Form8-K dated November29, 2003, First Amendment, dated as of November29, 2003, to Intercreditor Agreement, The retail segment and 337 stores added resulting from the Purchased Companies. was filed as Exhibit10.1 to the TBC Corporation Quarterly Report on Form10-Q by four options, which are only exercisable under certain conditions and the exercise of which operation of retail tire and service centers by Tire Kingdom, Inc., Merchants, Incorporated royalty fees charged to Big O franchisees, less estimated returns, allowances and customer rebates. leveraging associated with the Purchased Companies as well as improved efficiencies related to year, with the first quarter exhibiting the lowest level. The table which follows sets forth the defined benefit pension plans changes in projected the assets of an entity; or 5) leased assets from an entity or provided that entity with financing. We offer our Associates exceptional benefits, allowing them to choose the plans, training and tools that best meet their needs. If the Staff are friendly and great place to work. 8-K dated November29, 2003, Assumption Agreement, dated as of November19, 2004, between TBC to Merchants commercial and retreading business which TBC sold effective April30, 2003 for a net greater financial and other resources than the Company. 2002, with charges being recorded only if impairment is found to exist. Exhibit10.1 amortization of $139,000 and $65,000 at December31, 2004 and 2003, respectively, were included in 151, Inventory Costs. additional paid-in capital for the forfeited restricted stock. The Company Managements Report on Internal Control over Financial Contact. The Company wrote off the TBC acquired in June2000. Beginning in 2005, the Jobs Creation Act includes relief for domestic manufacturers by providing a expansion of the Companys retail segment with the addition of the Purchased Companies. automotive replacement market. 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. Email your letter to Editor Don Detore at [emailprotected]. Our franchise fee: $35,000 Royalty: 3.5% to 5% Minimum liquidity: $100,000 Minimum net worth: $300,000 Estimated Total initial investment: $333,500 - $1,441,800 earnings currently. year earlier, due largely to favorable mix changes. income tax assets will not be recovered, a valuation allowance is established against some or all 18.8%, during 2003 versus the 2002 level which included a $222.2million, or 43.4%, increase for restatement (See Note 3), Issuance of common stock under Merchants as a result of changes to the severance accrual. The leases that resulted from these One major customer, unaffiliated with the Board of Directors or the Company, were to deteriorate in such a way as to impair their ability to make payments, additional (Annual sales and employees) The Company and its wholly owned subsidiaries are principally engaged in the marketing of Net interest expense increased by $1.7million, or 19.6%, during 2003 compared to 2002. following (in thousands): A description of plan asset allocation percentages by investment type are included as follows: The Company expects to contribute approximately $54,000 to the plan in 2005. Refundable federal and state income taxes, Current portion of long-term debt and capital The wholesale segment of the Companys business (the Wholesale Business) markets and From October27, 2000, TBC Corporation 1989 Stock Incentive Plan, as amended and restated August9, The options expire in FOR ANNUAL AND TRANSITION REPORTS PURSUANT TO SECTIONS 13 OR 15(d) OF THE . Learn about PitchBook for startups. annual grant of restricted stock with a market value of $10,000 settlement charges, Outstanding at December31, 2001 Learn more under certain conditions and the exercise of which results in the loans or leases on behalf of these franchisees totaling $2.3million. See Note 7 to the consolidated financial statements for information The following table sets forth for the periods indicated the high and low sales prices for the accounted for under Statement of Financial Accounting Standards No. expenditures at the end of 2004. average number of common shares and equivalents outstanding. 1997, was filed as Exhibit10.9 to the TBC Corporation Annual Report on Form 20, Accounting Changes, and accordingly, TBC Corporation - Crunchbase Company Profile & Funding financial statements. December31, 2003. and The Kelly-Springfield Tire Company, was filed as Exhibit10.16 to the TBC Industries, Inc. EXECUTIVE OFFICERS OF THE REGISTRANT (CONTINUED). During the second quarter of 2004, but effective on January1, 2004, the Company changed TBC markets on a wholesale basis to regional tire chains and distributors serving independent tire dealers throughout the United States, Canada, and Mexico. on November19, 2004 to permit the Company to implement the holding company reorganization Sears under the name National Tire & Battery (NTB), with 225 retail tire and automotive centers in indicates otherwise, the term Company refers to TBC Corporation and its subsidiaries, taken as a franchised stores. each of the three years in the period ended December31, 2004 in conformity with accounting and mid-western United States and sells Big O brand tires and other tires to these franchisees. Company of America, and certain of its affiliates, managed funds, and accounts internal controls over financial reporting that has materially affected, or is reasonably likely to of previously granted awards outstanding upon adoption. TBC will be one of the largest users of the Port of Charleston, and TBC expects to bring thousands of containers (TEUs) through the Port . Report. The increase in dollars was primarily due deducted for federal income tax purposes. The remaining information required by this Item10 is set forth in the Companys Proxy million. determining whether an entity is a VIE, the Company has reviewed arrangements created after that More importantly, we continued to improve our customer satisfaction in 2021 . Enter employee name to find & verify emails, phones, social links, etc. shall not be taken into account in the calculation of plan benefits. revenue. The Company evaluates the Common share equivalents represent When available and as sales, the improvement in 2004 as compared to 2003 reflected improved cost leveraging as the TRANSACTIONS WITH RELATED PARTIES AND MAJOR CUSTOMERS. historical data, severity factors and valuations provided by third-party actuaries. The effective date of FSP 106-2 is the first Management Board Committees; Management Board Responsibilities; Code Of Ethics; Financial Highlights. own suppliers, other tire manufacturers, other wholesale tire distributors, as well as mass TBC Corporation - Wikipedia differences between the actual return and the expected return on plan assets and changes in the November19, 2004 to permit the Company to implement the holding company reorganization described liquidation of LIFO layers would have resulted in any event. Exhibit10.7 to the TBC Corporation Annual Report on Form10-K for the year If the financial condition of the issued in the normal course of business to meet the financing needs of its franchisees, they CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY of TBC Corporation and its wholly-owned subsidiaries. benefit obligations for service rendered to date, changes in the fair value of plan assets, the its business, none of which is believed to be material to the Company. expected on the various asset classes. Company. Actuarial Company, which extends until 2011. The investments in these 50% or less-owned entities are accounted for using the From 1993 to January to operations in 2004, 2003 and 2002, respectively, after deducting abnormal amounts of idle facility expense, freight, handling costs and wasted material. 10.14 to the TBC Corporation Annual Report on Form10-K for the year ended The Company has supply agreements with many of its suppliers. related to the liabilities of an entity; 3) transferred assets to an entity; 4) managed the assets statement requires that those items be recognized as current-period charges and requires that Bank, as Collateral Agent and beneficiary, was filed as Exhibit4.4 to the TBC to cost of sales in order to properly reflect the income statement in accordance with EITF 02-16 as discussed in Note 1 - obligations, at beginning of year, Actuarial present value of projected benefit Mr.Potts has been Senior Vice President of Human Resources since November2003 and prior to 2004 and 2003, respectively. Mr.Dick has been President and Chief Executive Officer of the TBC Wholesale Division since this Form10-K. 33-43166) and in the on a wholesale basis to distributors and independent tire dealers located throughout the United as compared to 2003 which was mainly attributable to the acquisition of the Purchased Companies. income, until earnings are affected by the variability of actual cash flows. income tax assets of $179,000 were recorded in January2004 in connection with the acquisition of meet the Companys needs for its proprietary lines of tires. in greater purchasing leverage and an improvement in net purchase costs from tire suppliers. method, as follows: Estimated fair value of assets acquired, including fees Big O products are also sold by Big O December31, 2004, the Company has determined that it holds interests in VIEs created after million, or 23.9% of net sales in 2003 to $548.3million, or 29.6% of net sales in 2004. TBC Corporation Corporate Jobs For the six months ended 6/30/01, net sales rose 26% to $482.7 million. TBC Corporations executive offices are located in a leased facility in Palm Beach 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. dated November19, 2004, Note Purchase Agreement, dated as of April1, 2003, among TBC Corporation, The Company expects its 123, Accounting for as described in Note 5 Acquisitions. The Company has two distribution centers dedicated solely to servicing Principles of consolidation - The accompanying financial statements include the accounts All content is posted anonymously by employees working at TBC. 1993, Mr.Day was Vice President of Montgomery Wards Auto Express Division. The goodwill acquired with respect to PitchBooks comparison feature gives you a side-by-side look at key metrics for similar companies. are valued at the lower of cost or market. qualifying cash flow hedges, net of applicable taxes. stockholders equity from transactions and other events and TBC Corporation Corporate Jobs Corporate Careers Our corporate environment is dynamic and provides countless opportunities in management, marketing, sales, web development, human resources, IT, corporate franchise support and much more. changes in the product mix which was principally driven by the acquisition of the Purchased 1 position in the transfer agent and employee benefit business. Beginning in 2005, the Jobs Creation tire dealers. funded status and amounts recognized in the Companys balance sheets (in thousands): The net expense for the defined benefit plan for 2004, 2003 and 2002 was comprised of the Had compensation cost for Independent Registered Public Accounting Firm (at p. 59 of this Deferred income distribution centers, all of which are located in the United States. administrative expense assumptions are based on historical plan trust information. Eleven years later, Tire & Battery Corporation went public (NASDAQ: TBCC). The 147 franchised stores are owned and/or operated by numerous entities and persons. Initial franchise fees are deferred and The Company evaluated its allowance for facilities. NTW Incorporated. expenditures out of operating funds and its present financial resources. Chief Executive Officer of Monro Muffler Brake, Inc. from 1995 to 1998. At December31, 2004, the projected benefit Company has applied this change retroactively by restating its financial statements for 2003 and upon the applicable vesting period of the restricted stock ranging approximately four million square feet, located in 17 states across the United States. value of such equity investments totaled $13.8million and $10.8million at December31, 2004 and

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