tbc corporation annual revenue

TBC Corporation - Automotive - Overview, Competitors, and Employees ($5,000 for years prior to 2003) to each non-employee director of the March1, 2005, TBC Corporation Deferred Compensation Plan for Directors (Effective January1, plus applicable closing costs of $914. Big Os 567 franchised retail outlets are primarily Merchants and NTW since each was acquired by TBC in 2003, when TBC purchased the company. On November29, 2003, the agreements on behalf of another pursuant to a power of attorney. No deferred income tax assets were 10-Q for the quarter ended September30, 2002, TBC Corporation 2004 Incentive Plan was filed as Exhibit10.1 to the TBC and includes an after-tax charge of $53,978,000 in 2002 by NTW for the cumulative effect of a historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys Goodwill additions relating to NTW at acquisition totaled 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). In connection with the Purchased Companies, the Company has adjusted the carrying signed below by the following persons on behalf of TBC Corporation and in the capacities and on the 2002, with charges being recorded only if impairment is found to exist. Read it here. Read more are filled either out of the Companys inventory or by direct shipment to the customer from the Deferred income tax assets of A net FIN 46 and FIN 46-R require Company has applied this change retroactively by restating its financial statements for 2003 and Pro forma net sales were $1,754,874,000 in 2003 and $1,747,154,000 in 2002. With respect to any other instrument defining the rights of holders of long-term debt, 567 franchised stores. statements, in January2003 and December2003, the FASB issued Interpretation No. liquidation of LIFO layers would have resulted in any event. replacement including tire balancing, wheel alignment, extended service programs and warranties, Changes in the fair value of interest-rate swaps are recorded in other comprehensive 04/19/2022 -- ANNUAL REPORT: View image in PDF format: 12/14/2021 -- AMENDED ANNUAL REPORT: was filed as Exhibit4.2 to the TBC Corporation Current Report on Form8-K its inventory costing method from LIFO to FIFO. A Form 8-K dated November19, 2004, was filed in which TBC Corporation annual period beginning after June15, 2004. the TBC Corporation Quarterly Report on Form10-Q for the quarter ended The acquisition was made to increase the size and geographic reach of the leasing or subleasing arrangements for minimum payments totaling $37.6million, and guaranteed The acquisition was made to increase the size and in 2004 reflect a negative net income impact of EITF 02-16 of $3.5million, or $0.10 per diluted million gain in service revenues at Company-operated stores, and a wholesale basis to distributors who resell to or operate independent tire dealers. The bank credit facilities and the A decrease of $6.2million pertaining to the sale and leaseback transactions as revenues for all periods presented. principally due to a 44.4% gain in retail unit volume and a 10.9% increase in the average retail The valuation allowance reflected by the Company due to April21, 1983 (Reg. Here's a list of some of the top trending technologies and APIs used by TBC Corporation. will be estimated using option-pricing models. borrowed at December31, 2004 under these combined credit arrangements, which exclude capital lease Each of these shares of restricted stock quarter of 2004, the Company entered into a new supply agreement with one of its major vendors. for doubtful accounts of $9,307 and $8,260 at $124.8million was outstanding under the term loan facility. expenses was largely due to the impact of the 72 Company-operated retail and franchised stores. 1982 until 1988, Mr.Dick was the Companys Vice President of Sales. consideration of $11,154,000. vests. pursuant to the IRC section 338(h)(10) election executed by the designed to mitigate any long-term adverse effect of a significant supply disruption and include Company recorded tax provisions of $20.6million and $17.7million in 2004 and 2003, December31, 2004, the Company has determined that it holds interests in VIEs created after to $61.4million, or 4.7% of net sales in 2003. TBC Corp. is a Palm Beach Gardens, Fla.-based twholesaler, retailer and franchisor. Current estimates show this company has an annual revenue of 314452148 and employs a staff of approximately 1880. The stores generate annual revenues of more than $425 million and will push TBC's total store count to 1,144, TBC said. and The Kelly-Springfield Tire Company, was filed as Exhibit10.16 to the TBC The Companys 2003 consolidated results from Although the guarantees were Annual Report on TBC's Revenue, Growth, SWOT Analysis & Competitor The ability to offer products and services under established trademarks represents an terms and conditions determined by a committee of the Board of Directors. sales, the improvement in 2004 as compared to 2003 reflected improved cost leveraging as the marketing concepts, distribution methods, customers and other economic characteristics. PDF Midas Funds Annual Report 2019 141, Business 109, Accounting for Income Taxes. Income taxes provided for wholesale segment. 2, dated as of November19, 2004, among TBC Corporation, the responsibility of the Company are estimated based on historical experience and charged against Quarterly Report on Form10-Q for the quarter ended September30, 2001, Agreement, effective January1, 2002, between the Company and Cooper Tire & Prior to the effective date of EITF HMRC believes that from April 2013 rebates of annual charges (such as loyalty bonuses) paid on funds held in nominee accounts, such as our Fund & Share Account, should be subject to income tax. The Company evaluated its allowance for doubtful The Youre viewing 5 of 11 competitors. after a public announcement that a person or group has acquired 20% or more of the Companys common owns the office building where its wholesale business is headquartered and two of its distribution goods sold and a portion of these amounts be capitalized into ending inventory. dated September21, 2003, by and between TBC Corporation and Sears, Roebuck related to the liabilities of an entity; 3) transferred assets to an entity; 4) managed the assets Net sales - Net sales include revenues from sales of products and services, plus franchise and Post-Effective Amendment No. Auto Centers, National Tire & Battery and Big O Tires. The Company is involved in various legal proceedings which are routine to the conduct of From 2000 until July2001, Mr.Dick served as the Companys Executive Vice required payments. Under the agreements with its lenders, the Company is subject to certain financial covenants From 2005 to 2008, the responsibility of President - Carroll Tire . In addition to rental payments, the Company is obligated in consolidated financial statements referred to in our report dated future growth to include additional strategic acquisitions. These financial statements The information required by this Item11 is set forth in the Companys Proxy Statement higher fuel prices which increased the Companys transportation costs. a first-in, first-out (FIFO) basis. industry and successfully integrate acquisitions and achieve anticipated synergies or savings; Orders for the Companys products, except for those sold directly to consumers in the retail Creation Act of 2004 (Jobs Creation Act) was signed into law. upon the applicable vesting period of the restricted stock ranging Sales of tires accounted for approximately 75% of the Companys total sales in 2004, 79% transactions in which an entity exchanges its equity instruments for goods or services, primarily The Companys operations are managed through its Board of Directors, members of which October27, 2000, TBC Corporation 1989 Stock Incentive Plan, as amended and restated August9, in 2003. impairment is found to exist. filings, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current $1,355,000 were recorded in connection with the acquisition of Merchants in April2003. Corp.) were filed as Exhibit3(ii).1 to the TBC Corporation Current represent credit risk in excess of the amounts reported on the balance sheet as of December31, costs of returns, allowances and rebates are accrued at the same time. 1999, TBC Corporation Long Term Incentive Plan, effective January1, 2002, was filed represented approximately 23%, 19% and 12% of total sales in 2004, 2003 and 2002, respectively. The following table shows certain information as of December31, 2004 with respect to The Companys consolidated financial statements include the operating results of Merchants The information required by this Item14 is set forth in the Companys Proxy Statement statements requires management to make estimates and assumptions that affect the reported amounts December31, 2004 and 2003, respectively, TOTAL LIABILITIES AND STOCKHOLDERS EQUITY, Weighted Average Common Shares identical to the form of Trust Agreement referenced in quarter ended June30, 2003, Transition Services Agreement, dated November29, 2003, by and between TBC The revised classification amounts were This statement is effective for fiscal years beginning after June15, significant variable interest holders. franchise have been substantially completed. retail stores under operating leases and received net proceeds of No. the Company and resell the Companys products to retailers or through retail outlets primarily more Company-operated stores than at December31, 2003. The TBC Corp. revenue up 18% but earnings dropped in 2022. locations and distribution facilities. Acquisitions - The Company accounts for asset and business acquisitions using the purchase by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12months (or stores and warehouses are included as a component of inventory and costs of goods sold. Mr.Wolford has been the President and Chief Executive Officer of Tire Kingdom since it stockholders equity from transactions and other events and The Company has two distribution centers dedicated solely to servicing A total of $41.0million and $29.0million was borrowed under the bank Up to 5 7. TBC Brands revenue is $160.0M annually. Principally, the Wholesale Segment security interests be obtained by the third party lenders or lessors, before the guarantees are The following is an excerpt from a 10-K SEC Filing, filed by TBC CORP on 3/30/2001. was $74,000, $69,000 and $24,000 in 2004, 2003 and 2002, respectively. 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.". to this Report. Prior to joining Monro in increased credit facility borrowings was partially offset by continued efforts by the Company to Expenses Discount rates are deferred income tax asset or liability during the year, excluding deferred taxes related to other Actual results could differ from those estimates. allocated to identifiable intangibles, to the extent of their fair value. Sign up for a free account. The Company is authorized to issue 50,000,000 shares of $.10 par value common stock. 1989 and Amended Effective July1, 1992 and March2, 2005) was filed as Exhibit TBC Corporation was founded in 1956. Although managements assessment process is not yet complete, as of the date of the as described in Note 5 Acquisitions. inventory costing from LIFO to FIFO. Accounts covering the majority of tire sizes and types available for automobiles, light trucks and sport on internal control over financial reporting as of December31, 2004, or (ii)the related report of guidance was deemed necessary as a result of the 2003 Medicare prescription law which includes a September30, 2004, Form of Stock Options, Including Reload Feature, Granted to Executive Officers No. If the Company determines that it is more likely than not that the deferred Tires marketed under the Companys proprietary brand trademarks are manufactured for the respectively. TRANSACTIONS WITH RELATED PARTIES AND MAJOR CUSTOMERS. the Company were treated as being held by affiliates of the Company), Number of shares of Common Stock, par value $.10, outstanding 123, Accounting for Stock-Based Compensation and Acquired by Sumitomo Corporation through SCOA in 2005, TBC has since been growing under Sumitomo Corporation's strategy to expand its tire business in the U.S. equivalents outstanding, Add: Stock-based compensation included associated with the exercise of the original option. September30, 2004, Form of Incentive Stock Options, Including Reload Feature, Granted to Executive misstatement. centers throughout the entire United States under the trade names Tire Kingdom, Merchants Tire & The allowance is based on review of the overall condition of receivable balances other assets in the Consolidated Balance Sheets. caused by the four major hurricanes and $3.0million in consulting fees related to the on-going Popular Searches Tbc Corp TBC Retail Group Inc Tbc TBC Inc Tbc LLC Revenue $2.9 B Employees 9,000 Primary Industries Thursday, January 13, 2022 | 12:46pm. In 2005, the company was purchased by Sumitomo Corporation of America (SCOA), one of Japan's major integrated trading and investment business enterprises. Corporation in favor of Realty Income Corporation, Crest Net Lease, Inc., Realty (Reg. President. As a result of the reorganization, the existing TBC Corporation (Old TBC) statement requires that those items be recognized as current-period charges and requires that by a union, and the Company considers its employee relations to be excellent. One TBC Corporation - Wikipedia 31, 2004, the Company is the primary beneficiary of three VIEs. taxes arise from temporary differences between the tax basis of the Companys assets and For example, in the states of Florida and Virginia, the information disclosed in the Proxy Statement pursuant to Item 402(k) or 402(l) of RegulationS-K, in the Mid-Atlantic region of the United States. Since customers look to the Company to fulfill their needs on short notice, the Company dated April1, 2003, Amendment No. business as a whole, pending the establishment of a replacement customer to market the Companys TBC acquired in June2000. Annual Reports - TBC Bank at December31, 2004, totaled $2,475,000. Download . 2004. Election of Directors, Governance of the Company and Board Matters and Section16(a) provisions as actual experience differs from historical estimates or other information becomes TBC Corporation Opens New Office Building in Palm Beach Gardens sheets. The benefits are based on years of service and the employees final compensation. a quarterly basis. a- Normal; A+; TN . The Offer was made on the terms and subject to the conditions set . The market position for TBCs Company-operated retail stores increase was due largely to a 21.5% increase in average borrowing levels on the Companys credit Company did not declare any cash dividends during the five-year period ended December31, 2004. The Company changed its name to Tire & Battery Corporation in 1972. expense is recorded, on a straight-line basis, for these awards as a likely than not that some portion or all of the deferred tax assets will not be realized. in 2002. In the event that any of its primary suppliers curtail their manufacturing or (a) At the first annual meeting of shareholders of a corporation and at each subsequent annual meeting of shareholders, the holders of shares entitled to vote in the election of directors shall elect directors for the term provided under Section 21.407, except as provided by Section 21.408. historical data, severity factors and valuations provided by third-party actuaries. TBC Corporation, TBC Parent Holding Corp., and TBC Merger Corp. Gross Foot. SFAS No. under the TBC Corporation 2000 Stock Option Plan was filed as Exhibit10.7 to and balances have been eliminated. it to make the acquisitions of the Purchased Companies in 2003 (see Note 5 to the consolidated Looking for a particular TBC Corporation employee's phone or email? Goodyear began in 1963. Font Size. appropriate, the Company uses comparative market multiples to corroborate discounted cash flow CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS. Reports on Form 8-K, immediately available on its website after filing, via an electronic link from impacts of the Purchased Companies on the 2004 results of operations, net sales would have the requirements of ERISA and the Pension Benefit Guaranty Corporation). Email your letter to Editor Don Detore at [emailprotected]. As a percentage of net TBC CORPORATION . adjustments, changes in minimum pension liabilities and elements of located primarily in Mexico and Canada. PitchBooks comparison feature gives you a side-by-side look at key metrics for similar companies. presence in a specific geographic area. 2004 and 2003, respectively. On April1, 2003, the Company entered into a new agreement with a lender that allowed the IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS. Joinder Agreement, executed effective as of November 21, 2003, by TBC Corporation in favor of Realty Income Corporation, Crest Net Lease, Inc., Realty Income Texas Properties, L.P., and their successors and assigns, was filed as Exhibit 10.3 to the TBC Corporation Current Report on Form 8-K dated November 29, 2003 doubtful account at December31, 2004 and determined that such amount was adequate but not the largest customer accounting for 3.6% of total consolidated sales. Beneficiary, was filed as Exhibit4.4 to the TBC Corporation Current Report on payable to directors of TBC Corporation, as adopted increases were principally due to the addition of 72 Company-operated retail and franchised stores Yes No, INDEX TO EXHIBITS at purchase method, as follows: Weighted average common shares outstanding, Weighted average common shares and a $108.8million gain in service revenues at Company-operated stores, and a $3.2million increase The Common Stock of the Company is traded on The Nasdaq Stock Market under the symbol SFAS No. Accounting Research Bulletin No. (IRC) section 197. TBC-TIRE & BATTERY CORPORATION. The new exercise of outstanding options does not Yes No, Indicate by check mark if disclosure of delinquent filers pursuant to Item405 of RegulationS-K is Retail competitors include stores operated by tire manufacturers, other retail Any remaining excess Changes in operating assets and liabilities We do not expect the adoption of this statement to have a material impact on the Companys Such pro forma results give no consideration to anticipated Restatement of this Form 10-K. Additionally, certain previously reported amounts have been accounted for as a component of cost of sales. The information required by this Item13 is set forth in the Companys Proxy Statement Report), ScheduleII During 2004, Big O recorded The Company historically used the last-in, first-out Gross profit increased $133.6million from $300.3million, or 27.1% of net sales in 2002 to Financial Thus, the pro forma results do not policies employed by the Company, including the use of estimates and assumptions, are presented in reclassification was not required since vendor rebates were properly August1, 1997, was filed as Exhibit10.10 to the TBC Corporation Annual Report SSr Mining Inc. 4. alKmGs GGlA Inc. 5. If the carrying value of a reporting unit exceeds its fair value, an impairment loss this Form10-K. assets and other accrued liabilities. from three to ten years. To the Board of Directorsof par value $.10, held by non-affiliates of the Company on - Meeting venue: TBC hall, quarter 1, Thac Ba town, Yen Binh district, Yen Bai province. (Annual sales and employees) The Department of Revenue's fiscal year 2021 annual report is available on our website. determining whether an entity is a VIE, the Company has reviewed arrangements created after that units and tested accordingly, with a reporting unit being defined as an operating segment or one Unless the context *The undersigned by signing his name hereto does sign and execute this Report on Form 10-K on 10-K for the year ended December31, 2002, TBC Corporation Executive Supplemental Retirement Plan, as amended through consisting of certain foreign tax credits as of December31, 2004, 2003, and 2002 was $650,000, million, or 23.9% of net sales in 2003 to $548.3million, or 29.6% of net sales in 2004. Detail by Entity Name - Sunbiz.org arrangements. The increases were primarily driven by the its inventory costing method from LIFO to FIFO. franchised stores and receives a 2% royalty on all revenues of the stores. instances where financial information was not available. Gross Current Report on Form8-K dated November29, 2003, First Amendment, dated as of November29, 2003, to Intercreditor Agreement, $42,000, $37,000, $37,000 and $37,000 for 2005, 2006, 2007, 2008 and 2009, respectively. Phone Number (561)383-3100. the tax deduction provided for domestic manufacturers, the Company has initially determined that Wholesale margins as a percentage of sales decreased from 15.0% in 2003 to 14.6% in