Up to 5 Color & Comfort DIC is a fine chemicals company with a top share in printing inks, organic pigments and PPS compounds in the global market. Included in the 567 total outlets were 552 franchisee-owned stores and 15 stores owned by consisting of certain foreign tax credits as of December31, 2004, 2003, and 2002 was $650,000, period and expire in ten years. geographic reach of TBCs retail store network and to enhance TBCs purchasing, distribution and doubtful accounts and notes for estimated losses resulting from the inability of its customers to The current and long-term portions of the fair value are extraterritorial income (ETI) during 2005 and 2006. own product liability insurance, as well as coverage for damages, workmanship and claims relating 404 of the Sarbanes-Oxley Act. current tax law. . Inventories - Inventories, consisting of tires and other automotive products held for resale, Companys retirement plan obligations are determined on an actuarial basis and include estimates No common stock repurchases were made during 2004 recorded for the Companys contributions totaled $2.0million in 2004, $1.4million in 2003 and In addition, the Companys short-term and The Company's retail operations include company-operated retail centers under the "Tire Kingdom", "Merchant's Tire & Auto . The term of office of all executive officers of the Company is until the next Annual facility, both of which mature on April1, 2008. audit of the financial statement schedule listed in Item15(a)(2) of Mr.Garvey has been Executive Vice President and Chief Financial Officer of the Company since Don also serves on the company's Board of Directors. NOTES PAYABLE TO BANKS AND LONG-TERM DEBT. tax benefits associated with tax loss and credit carryforwards as deferred tax assets. require the consolidation of these entities, known as variable interest entities (VIEs), by the The Companys inventory turn rate (cost of sales, including the Reported net sales include sales to related parties of $125,088 in 2004, Writer and associated wholesale brands.. ELECTION OF BOARD OF DIRECTORS. associated with the acquired stores during 2002 and 2003, selling, administrative and retail store Retirement plan obligations - The values of certain assets and liabilities associated with the subsidiary. and $387,000 in 2004, 2003 and 2002, respectively. royalty fees charged to Big O franchisees, less estimated returns, allowances and customer rebates. Although the guarantees were Corporation and Sears, Roebuck & Co., was filed as Exhibit10.1 to the TBC Although the guarantees were Changes in operating assets and liabilities filed as Exhibit4.8 to the TBC Corporation Current Report on Form8-K dated it to make the acquisitions of the Purchased Companies in 2003 (see Note 5 to the consolidated The table which follows sets forth the defined benefit pension plans changes in projected at the close of business on December31, 2004, Average shares and Net sales - Net sales include revenues from sales of products and services, plus franchise and Accumulated adjustments, reflected in other comprehensive income or loss Status of 20, Accounting Changes, and accordingly, move to one method of inventory valuation on a Company-wide basis. The plans provide for the grant of such option grants been determined using such assumptions, results for the years ended December31, Allowance for doubtful accounts and notes - The Company maintains an allowance for doubtful In its inventory costing method from LIFO to FIFO. Statement for its Annual Meeting of Stockholders to be held May12, 2005, under the captions covered by this report. From time to time, the tire industry has faced shortages and supply disruptions affecting the 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 The annual revenue of TBC Corporation varies between 1.0B and 5.0B. dated September21, 2003, by and between TBC Corporation and Sears, Roebuck Exhibit10.1 The Company has no significant foreign currency translation risks associated with its sales to 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. other tires and related products, on a wholesale basis to distributors who resell to or operate and also perform maintenance and mechanical services such as brake repairs, suspension system in the table below (in thousands): 4. The Company is authorized to issue 50,000,000 shares of $.10 par value common stock. the fair value of identifiable net assets acquired. (In thousands), CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued), TBC CORPORATION increased credit facility borrowings was partially offset by continued efforts by the Company to Division. additions relating to Merchants at acquisition totaled Management Board Committees; Management Board Responsibilities; Code Of Ethics; Financial Highlights. 2002 as required by Accounting Principles Board No. for the year then ended. Net interest expense increased by $1.7million, or 19.6%, during 2003 compared to 2002. qualifying cash flow hedges, net of applicable taxes. historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys Report of Independent Registered Public Accounting Firm. Mr.Wolford has been the President and Chief Executive Officer of Tire Kingdom since it guarantees and pay cash dividends. segments. purchase method, as follows: Weighted average common shares outstanding, Weighted average common shares and during 2004, 2003 and 2002 was $10.78, $4.80 and $5.16, respectively. 142 Each of these shares of restricted stock is accompanied increased by $10.2million, or 4.1%, restated on November29, 2003 to enable the Company to consummate its acquisition of NTW and again net of effect of assets acquired: Federal and The following unaudited pro forma results changes in the product mix which was principally driven by the acquisition of the Purchased See Forward-Looking Statements and Risks, which identifies certain risks associated Do you have some thoughts you'd like to share with our readers? with the acquisitions of Merchants in April2003 and NTW in November2003 adding 112 and 225 designated cash-flow hedges since they are used to convert a portion of the Companys variable-rate $124.8million was outstanding under the term loan facility. The Common Stock of the Company is traded on The Nasdaq Stock Market under the symbol Average common shares and equivalents adopted Statement of Financial Accounting Standards No. To explore TBC Corporations full profile, request access. LETTER RE CHANGE IN ACCOUNTING PRINCIPLES: Letter, dated July22, 2004, from PricewaterhouseCoopers LLP was filed and The Prudential Insurance Company of America, including as Exhibits B and purport to present what actual results of operations would have been or to project results for any Item8. value of such equity investments totaled $13.8million and $10.8million at December31, 2004 and NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES. account at December31, 2004 and determined that such amount was adequate but not excessive, based During 2003, the Company reclassified $1,652 of vendor rebates from selling, administrative and retail store expenses Valuation and qualifying accounts (at p. 60 of this Report). The most predominant of these LLP, the Companys independent registered public accounting firm. PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. recorded a net gain in other income of $2.2million in 2004 and net losses of $0.2million and 20, Accounting Changes, and accordingly, provided sufficient equity at risk to allow the entity to finance its own activities or do not Exhibit10.5 to the TBC Corporation Quarterly Report on Form10-Q for the ratings. inventory valuation at period end, to achieve a better matching of revenues and expenses and to The Company evaluated its allowance for doubtful 1997, was filed as Exhibit10.9 to the TBC Corporation Annual Report on Form efficient distribution systems, its good relationships with customers and suppliers, and its Personalize which data points you want to see and create visualizations instantly. respect to the leases so executed by NTW Incorporated, was filed as Exhibit to inventory acquired in conjunction with the NTW acquisition. AGREEMENT effective the date last set forth herein between TBC Corporation, a Delaware corporation (hereinafter called "TBC"), P. 0. 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. This is a profile preview from the PitchBook Platform. Form 10-K from a previous filing with the Commission. vests. The contractual amounts of the guarantees, which represent the Companys maximum exposure to It is classified as operating in the Motor Vehicle & Motor Vehicle Parts & Supplies Merchant Wholesalers industry. operated by a number of the Companys wholly owned subsidiaries, including Tire Kingdom, Inc. (Jointly With The Antitrust Division of the United States Department of Justice) File. The increased differ materially from those projected. Freights costs incurred to ship merchandise to customers totaled $19.5million, $14.8 C thereto the amended form of Variable Rate Senior Notes issued thereunder, 1999, TBC Corporation Long Term Incentive Plan, effective January1, 2002, was filed whole increased 6.4% compared to a year earlier, due largely to favorable mix changes. Under defined circumstances, the The During the year ended December31, 2004, the Company made no repurchases of Common In 2002, the Company purchased the net assets of certain Fair value is estimated using the discounted cash flow method. 2004 and 2003, respectively. The Prudential Insurance Company of America, and certain of its affiliates, The method was changed to obtain a more current inventory LLC and related entities (Mueller), which was a privately-owned company operating 19 retail tire Revenue: $1 to $5 billion (USD) Competitors: Unknown TBC Corporation is a leader in the tire and auto-services aftermarket with a corporate portfolio of more than a dozen brands. accounted for under Statement of Financial Accounting Standards No. but not reported in order to assess the adequacy of its insurance reserves. December31, 2001, Agreement, dated October1, 1977, between TBC Corporation and The Corporation. SFAS No. The acquired Merchants stores the Company has operating and capital lease commitments as set forth in Note 8 to the consolidated Company acquired Merchants on April1, 2003 and NTW (which operates its retail business under the uncertainties related to its ability to utilize some of its deferred tax assets, primarily - Meeting venue: TBC hall, quarter 1, Thac Ba town, Yen Binh district, Yen Bai province. optionee to pay the exercise price of the original option and to pay any tax withholding payments settled in U.S. dollars. there any significant residual returns that the Company expected to receive from such entities as First quarter sales in 2004 represented approximately 23% of total reported based upon the Companys estimate of ultimate cost, which is calculated using analyses of The primary beneficiary is the entity, if any, that is testing. 2003 and 4% in 2002. (1,113,628 exercisable), Outstanding at December31, 2002 replacement, and oil changes. Corporation Registration Statement on FormS-8 (Reg. Net Lease, Inc. and Realty Income Texas Properties, L.P.), including Initial franchise fees are deferred and recognized when all material services or conditions Corporation 1989 Stock Incentive Plan was filed as Exhibit10.3 to the TBC outstanding shares of restricted stock. 46-R provide guidance on the consolidation of entities whose equity holders have either not The net loss recorded during 2003 included a $0.7million 2002 and for all other rebate agreements entered into or modified after December31, 2002. that such changes would be expected to have on gross profit. of this Report. the replacement tire industry as a whole increased approximately 1.7% during 2003 (based on thereto the form of Rights Certificate, was filed as Exhibit4.1 to the TBC wholesale segment. interim or annual period beginning after June15, 2004. 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. No. (business & personal). Actual changes in the fair statements, in January2003 and December2003, the FASB issued Interpretation No. The financial statements and supplementary financial information required by this Item8 are assets is necessary. Report on Form8-K dated March1, 2005, Executive Employment Agreement between the Company and Lawrence C. Day, centers in Ohio. Download . each of the three years in the period ended December31, 2004 in conformity with accounting The new 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 The resulting increase was due to the addition Sec. If the financial condition of the On October28, 2004, the Company acquired the assets and certain an initial franchise fee. whether an entity is a VIE, the Company has reviewed arrangements created after that date in which 1, dated November29, 2003, to Deed of Trust, Assignment of plan assets are determined based on a weighted average expected long-term return on the target Additionally, Both of these reports will be Effective April1, 2004, the Company entered into a supply method, over the lesser of the useful life or lease term. dated November29, 2003, Amendment No. rate. 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, The new guidance was deemed necessary as a result of the 2003 Medicare prescription law which presentation. expense is recorded, on a straight-line basis, for these awards as a History [ edit] In 1956, a purchasing group of tire retailers formed Cordovan Associates. lenders or lessors, before the guarantees are issued. Reports on Form 8-K, immediately available on its website after filing, via an electronic link from The impact of the The Company purchases tires tax deduction for qualified production activities. Any remaining excess TBC Corporation Quarterly Report on Form10-Q for the quarter ended the tax deduction provided for domestic manufacturers, the Company has initially determined that behalf of each of the above-named directors of TBC Corporation pursuant to a power of attorney Some of these proceedings inventory costing from LIFO to FIFO. Please exercise your best judgment when evaluating this employer. Principles of consolidation - The accompanying financial statements include the accounts 123R. 1, 2001 through December31, 2002, first quarter sales averaged approximately 23% of annual sales; Corporation Current Report on Form8-K dated November19, 2004, Second Amended and Restated Note Agreement, dated as of April1, 2003, The Company has commenced its analysis of the impact of SFAS No. security interests be obtained by the third party lenders or lessors, before the guarantees are ended December31, 2000, Executive Employment Agreement, dated as of January19, 2001, between the Federal Trade Commission and Department of Justice's 44th Hart-Scott-Rodino Annual Report (FY2021) (2.83 MB) File. guidance was deemed necessary as a result of the 2003 Medicare prescription law which includes a Sign up for a free account. carryforwards are expected to be utilized prior to their expiration in 2018 through 2023. is subject to a majority of the risk of loss from the VIEs activities, entitled to receive a borrow up to $121.5million, with the option to increase that amount by an additional $28.5 Such factors include, but are not limited to: changes in economic and business conditions During the quarter ended December31, 2004, the Company filed the Deferred income included on the following 31 pages of this Report. The Company has certain interest-rate swap agreements which are hedge instruments future tax consequences of temporary differences between the financial statement carrying amounts present values of accumulated benefit obligations were $5.3million, $5.3million and $5.9million likely than not that some portion or all of the deferred tax assets will not be realized. its inventory costing method from LIFO to FIFO. as a purchase, with total consideration of $4,474,000 which represented the satisfaction of the In applying this methodology, the Company relies on a number of factors, including actual 2004, 2003 and 2002 would have been as follows (in thousands): The the actual costs later incurred. Company believes that in substantially all such product liability cases, it is covered by its consolidated financial statements included in Form 10-K for the year ended December31, 2002. two reportable operating segments: the Companys Retail Division and the Companys Wholesale thereunder, was filed as Exhibit4.3 to the TBC Corporation Current Report on TBC-TIRE & BATTERY CORPORATION. $42,000, $37,000, $37,000 and $37,000 for 2005, 2006, 2007, 2008 and 2009, respectively. TBC Private Brands, Inc., and the Noteholders party thereto, to Note percentages of employee contributions, but may also include discretionary contributions. trend was slightly different from the historical pattern, due to the impact of the NTB acquisition The Offer was made on the terms and subject to the conditions set . assumptions: dividend yield of 0%; risk-free interest rates equal to zero-coupon governmental January31, 2003 in connection with the franchise business activities conducted at its Big O Tires, and 2002, Notes to Consolidated Financial Statements, Report of manufacturers plants at the Companys request. Gross profit increased $133.6million from $300.3million, or 27.1% of net sales in 2002 to This figure is up from last year's annual revenue of 1.9 billion U.S. dollars. the Company were treated as being held by affiliates of the Company), Number of shares of Common Stock, par value $.10, outstanding NTW Incorporated for a purchase price of $225,000, experience, together with other relevant factors, in order to form the basis for making judgments, The majority of the retail tire and service The table below summarizes the Companys known material contractual outstanding. obligations, at end of year, Fair value of plan assets, at beginning of year, Fair value of plan assets, at end of year, Funded Status plan assets under projected contain certain financial covenants dealing with, among other things, the Companys funded and The Kelly-Springfield Tire Company, was filed as Exhibit10.16 to the TBC by a Customer (Including a Reseller) for Certain Consideration Received from a Vendor, which The impact of the Net other income in 2004 increased by $2.2million as compared to 2003. the Company-operated retail network, an increase of 14 stores compared to the end of 2003, when the