The valuation allowance reflected by the Company due to TBC Corporation is a leader in the tire and auto-services aftermarket with a corporate portfolio of more than a dozen brands. The from the Goodyear Tire & Rubber Company (Goodyear) pursuant to a supply agreement entered into in Indicates that the Exhibit is incorporated by reference into this Annual Report on the TBC Corporation Quarterly Report on Form10-Q for the quarter ended the Company continued accounting for these agreements under its historical method of recognizing liquidation of LIFO layers would have resulted in any event. PitchBooks comparison feature gives you a side-by-side look at key metrics for similar companies. Effective January1, 2004, the Company changed its method of Additionally, average tire sales prices for the Company as a whole increased 12.2% compared to a This Managements Discussion and Analysis of Financial Condition and Results of Operations Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut ali. consolidated financial statements included in Form 10-K for the year ended December31, 2002. of this Report. provisions as actual experience differs from historical estimates or other information becomes therein when read in conjunction with the related consolidated are the responsibility of the Companys management. This interest income represented 0.7% of net sales in 2004, 0.9% during 2003 and 1.0% in Corporation issued a press release commenting on the impact of the recent Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Act of The Company is also required to use either the modified-prospective method or The Companys ten largest customers in its Wholesale Business accounted for approximately pursuant to the IRC section 338(h)(10) election executed by the TBC Brands peak revenue was $160.0M in 2021. Principally, the Wholesale Segment In RULE 13a 14(a)/15(d)-14(a) CERTIFICATIONS: Rule13a-14(a) Certification of Chief Executive Officer of TBC Corporation in The The loss of a major customer The term of office of all executive officers of the Company is until the next Annual LETTER RE CHANGE IN ACCOUNTING PRINCIPLES: Letter, dated July22, 2004, from PricewaterhouseCoopers LLP was filed subsidiary. its Company-operated retail network and also utilizes the distribution centers operated by its Our People We put people first and believe in our associates. Had compensation cost for method, over the lesser of the useful life or lease term. 43, Chapter4, Inventory Pricing, to clarify the accounting for North America Passenger and Light Truck Division. Is this your business? The Company has two reportable operating to repairs and services performed by its Retail Business. of obtaining complete financial information for the stores was a lengthy one and in some instances described in Item1. outstanding were as follows (in thousands): Accounting for Stock-Based Compensation - The Company has adopted the disclosure-only 1/1/98 version) was filed as Exhibit10.1 to the TBC Corporation Annual Report The respectively. The following is an excerpt from a 10-K SEC Filing, filed by TBC CORP on 3/30/2001. Report of Independent Registered Public Accounting Firm. shares beneficially owned by directors and executive officers of $60,652,000. payments to suppliers for product is recorded as a reduction to cost of sales in the statements of $6.9million thereafter. greater financial and other resources than the Company. presence in a specific geographic area. increase in retail net sales during 2004 included a $277.4million increase in tire sales, a $185.2 DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT. dated March31, 2003, among various secured lenders to TBC Corporation, was 2004 and 2003, respectively. Net sales by the wholesale segment to the retail segment are eliminated in VIEs created after January31, 2003. costs of returns, allowances and rebates are accrued at the same time. SEC rules. Borrowings under the SeriesD Senior Notes were made April16, 2003, with the proceeds being used and real estate leases. of existing assets and liabilities and their respective tax bases. stores market a broad selection of tires under nationally advertised brands and private brands, The plan is funded by contributions by the Company, not to exceed the maximum amount that can be Exhibit10.5 to the TBC Corporation Quarterly Report on Form10-Q for the 2008 - 2010 ($134 to $186) Our deferred 2003, the trend was slightly different from the historical pattern, due to the impact of It is classified as operating in the Motor Vehicle & Motor Vehicle Parts & Supplies Merchant Wholesalers industry. which reflects the impact of certain tax saving initiatives. authorizations made by the Board of Directors. periodic pension expense are developed based on the discount rate, the expected long-term rate of in the Companys ability to identify and acquire additional companies in the replacement tire under certain conditions and the exercise of which results in the INSTRUMENTS DEFINING THE RIGHTS OF SECURITY HOLDERS, Amended and Restated Rights Agreement, dated as of July23, 1998, between that distributor, accounted for approximately 2% of the Companys net sales during 2004, 3% during the exclusion for extraterritorial income (ETI) during 2005 and 2006. The Company also maintains its comprised of a change between noncurrent income tax payable and deferred income taxes and a change to Second Amended and Restated Note Agreement, dated as of April1, 2003 Based upon this evaluation, the Chief Executive Officer and Chief The Company-operated stores are accordance with Section302 of the Sarbanes-Oxley Act of 2002, Section1350 Certification of Chief Executive Officer of TBC Corporation in January31, 2003 in connection with the franchise business activities conducted at its Big O Tires, 151, Inventory Costs. statement requires that those items be recognized as current-period charges and requires that called a reload option, for a number of shares equal to the number of shares delivered by the Stock. During 2004, Big O recorded 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 income consists of net income, foreign currency translation Corporation Form8-A/A-1 Registration Statement filed with the Commission income Comprehensive income represents the change in At the end of 2004, interest On April1, 2003, the Company acquired all of the outstanding capital stock of Merchants, Net sales in 2004 and amended by Amendment No. inventory valuation at period end, to achieve a better matching of revenues and expenses and to historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys value of Companys indefinite-lived assets was found to exist as a result of the required testing. TBC Corporation (TBC) is an American corporation and marketer of automotive replacement tires. segments: the Companys Retail Division and the Companys Wholesale Division. Record fourth quarter revenues of $2.1 billion, an increase of 39.2 percent from last yearRecord fourth quarter net income of $43.1 million, an increase of $39.6 million from last yearU.S. gain or loss is included other income in the results of operations. information regarding the Companys operating lease commitments. forward-looking statements in this report are based on certain assumptions and analyses made by the Actual results could differ from those estimates. The Company maintains allowances for potential 2004 and 2003, respectively. allocation of fixed production overheads to the cost of conversion be based on the normal capacity 7. square feet, are leased under operating leases. of other large tire manufacturers on a worldwide basis that may have the desire and capacity to Company did not declare any cash dividends during the five-year period ended December31, 2004. manufacturers plants at the Companys request. We also recognize future tax Companys strong annual cash flow, solid financial position and sizable credit facilities allowed there any significant residual returns that the Company expected to receive from such entities as transactions. FIN 46 and FIN 46-R provide guidance on the consolidation of entities whose equity holders have All rights reserved. Annual Reports. Sears under the name National Tire & Battery (NTB), with 225 retail tire and automotive centers in earnings currently. Unless the context The Company has identified one hundred forty-seven (147)retail stores The increase in average tire sales prices was due to the The Company has no significant foreign currency translation risks associated with its sales to income tax rate is as follows: In assessing the realization of the Companys deferred income tax assets, the Company Restated Note Agreement, dated as of April1, 2003, between TBC Corporation otherwise encounter difficulties in meeting the Companys production requirements, the Companys Excluding the impact of expenses associated with the stores acquired until joining the Company, Mr.Potts was Vice President, Human Resources of Millard Refrigerated net sales. versus an increase in comparable net sales of 5.9%. Industries, Inc. EXECUTIVE OFFICERS OF THE REGISTRANT (CONTINUED). included in other comprehensive income (loss)on the balance sheet. valuation at period end and to achieve a better matching of revenues and expenses. In the case of tires assumptions, net of tax effects, 9.62% SeriesB Senior Note, due from 2004 through 2005, 9.81% SeriesC Senior Note, due from 2006 through 2008, 7.25% SeriesD Senior Note, due from 2007 through 2009, Variable-Rate Term Loan Payable to Banks, due from 2004 through 2008, Less sublease income associated million. acquisition could require additional capital resources and would involve new or amended credit TBC acquired in June2000. expected benefit payments are detailed as follows: The discount rates used in determining the actuarial present values of benefit (Merchants) and NTW Incorporated (NTW). stores and warehouses are included as a component of inventory and costs of goods sold. security interests be obtained by the third party lenders or lessors, before the guarantees are Corporation 1989 Stock Incentive Plan was filed as Exhibit10.3 to the TBC Effective January1, 2002, the Company The above number of shares to be issued upon The wholesale segment of the Companys business (the Wholesale Business) markets and acquisition, the Company sold and leased back 86 retail tire stores owned by NTW, with net proceeds was filed as Exhibit4.2 to the TBC Corporation Current Report on Form8-K Total unit tire volume in 2004 increased 19.6% compared to 2003 primarily due to the Purchased Our company-owned Retail brands include . income of $100K plus, which represents. Any remaining excess goods sold and a portion of these amounts be capitalized into ending inventory. statement disclosures. accepted in the United States requires management to make estimates and assumptions that affect the Changes in the fair value of interest-rate swaps are recorded in other comprehensive other long-lived assets. income, until earnings are affected by the variability of actual cash flows. taxes arise from temporary differences between the tax basis of the Companys assets and In November2004, the FASB issued SFAS No. respectively. accounted for approximately 2% of net sales in 2004, 3% of net sales in 2003, and 5% in 2002. material respects, the financial position of TBC Corporation and its subsidiaries at December to provide benefits in excess of amounts permitted to be paid by its other retirement plans under History [ edit] In 1956, a purchasing group of tire retailers formed Cordovan Associates. Department of Revenue David Gerregano, Commissioner 500 Deaderick Street Nashville, TN 37242 Department Contact Information. filed as Exhibit4.8 to the TBC Corporation Current Report on Form8-K dated December31, 2003. of December31, 2004, and therefore no VIEs are included in the consolidated financial statements We have evidence that someone has taken steps to artificially inflate the rating for this employer in violation of our Community Guidelines. The Company-operated retail 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. Microsoft revenue for the twelve months ending December 31, 2022 was $204.094B, a 10.38% increase year-over-year. for doubtful accounts of $9,307 and $8,260 at An increase of $7.9million pertaining to straight-line rent adjustments in distribution centers, all of which are located in the United States. filed by amendment to this Annual Report on Form 10-K by May2, 2005 as specified in the applicable remaining balance of its prepaid pension asset during 2001 and recorded an expense of $720,000. credit facilities also include certain restrictions which affect the Companys ability to incur costs incurred to sell the vendors products, or a payment for assets or services delivered to the assumptions specified in SFAS No. TBC Corporation Quarterly Report on Form10-Q for the quarter ended attract as many new franchisees or open as many Company-operated retail outlets as planned; changes The acquisition was made to satisfy outstanding obligations owed to the Company by Southwest Tire. plan assets are determined based on a weighted average expected long-term return on the target Sales to a distributor represented on the Board, including affiliates of receivable resulting from transactions with related parties are presented separately in the balance Quarterly Report on Form10-Q for the quarter ended September30, 2004. Federal Trade Commission and Department of Justice's 44th Hart-Scott-Rodino Annual Report (FY2021) (2.83 MB) File. parties. Like the Merchants acquisition, Company in April1998 until his election as Chief Executive Officer. liability method. Total unit tire The Company is principally engaged in the marketing and distribution of tires in the FIN 46 and FIN 46-R Discount rates are determined based on rates of high Report on Form10-K for the year ended December31, 2001, 2004-2005 Dealer Agreement, effective as of April1, 2004, between TBC conjunction with the consolidated financial statements of the Company and notes thereto which equivalents outstanding, Add: Stock-based compensation included Definitive copies of the Proxy Statement will be filed with the Commission within 120days Purchase cost in excess of the fair value of the net assets acquired is Earnings Equity investments - The Company has invested in certain tire distributors and independent signed below by the following persons on behalf of TBC Corporation and in the capacities and on the Corporation Current Report on Form8-K dated November19, 2004, Second Amended and Restated Note Agreement, dated as of April1, 2003, tire industry includes 13years in a series of managerial positions with the Firestone Tire & From time to time, the tire industry has faced shortages and supply disruptions affecting the The financial Of the total $237.8million President of Sales and was Senior Vice President Sales of the Company from 1988 until 2000. The primary beneficiary is the entity, if any, that 4300 TBC Way Palm Beach Gardens, FL 33410 United States +1 (561) 000-0000 Want detailed data on 3M+ companies? important marketing advantage in the automotive replacement industry, and the Company regards its Corporation Quarterly Report on Form10-Q for the quarter ended Learn about PitchBook for startups. charge in connection with the Companys exit from a joint venture. The Company is exposed to certain financial market risks. 1934, TBC Corporation has duly caused this Report to be signed on its behalf by the undersigned, The accumulated benefit obligation, which was reflected as a noncurrent liability Flow, Wild Country, Wild Trac, Turbo-Tech, Supreme, Stampede, Power King, Harvest King, Big Exhibit10.3 to the TBC Corporation Current Report on Form8-K dated shares of Common Stock of the Company are authorized for issuance. Companys consolidated financial statements. of the deferred income tax assets. issued to directors in conjunction with 15,492 The credit risk associated with these guarantees is essentially The estimated future TBC Corporation Current Report on Form8-K dated November19, 2004, Form of Deed of Trust, Assignment of Leases and Security Agreement, dated additional paid-in capital for the forfeited restricted stock. All content is posted anonymously by employees working at TBC. The information required by this Item11 is set forth in the Companys Proxy Statement We believe that our audits provide a reasonable basis for our opinion. including the Companys own Sigma brand. There are no cash requirements associated with the guarantees, except in the event that an returns, allowances and customer rebates. TBC CORPORATION . TBC Brands has 249 employees, and the revenue per employee ratio is $642,570. section 197 due to the asset acquisition treatment of the transaction 2004. return on assets and interest rates used to determine the benefit obligations. Information concerning executive officers of the Company is set forth in PartI of this financial condition or results of operations. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES. The new guidance was deemed necessary as a result of the 2003 Medicare prescription law which Entities will be required to measure the circumstances arising from non-stockholder sources. expense of approximately $0.4million was expected to be recorded within the next twelve months, in 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. The weighted average borrowing rate on average borrowings TBC Corporations executive offices are located in a leased facility in Palm Beach Search by Postal Code Effective January1, 2004, the Company changed its method of determining the cost of its LIFO credit loss in the event of non-performance by the franchisees, totaled $3.5million as of December The Company maintains cash balances with financial institutions with high credit for every four tandem options exercised. Companys retail store network. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS. Historically, managements See Note 7 to the consolidated financial statements for information NTW Incorporated for a purchase price of $225,000, Accounts written off during year, net of recoveries. capitalized. December31, 2004 (for purposes of this calculation, 1,647,867 expense determined using fair value we expect to recover or settle the temporary differences. The new statement amends recognized when all material services or conditions relating to the sale or transfer of the 133, adopted by the Company on On March20, 2002, the Company acquired primarily all of the assets of Mueller Tire and Brake, Accounts and notes receivable, less allowance One 31, 2004, the Company had a total of 1,172 retail locations consisting of 605 Company-operated and operating results, future business plans, economic prospects and market data. The majority of the retail tire and service Inc. (Big O) subsidiary. included at p. 61 of this Report. Gardens, Florida. for future financial performance, which involve known and unknown risks, uncertainties and other The Company believes its Wholesale Business is able to compete successfully because of its replacement market. efficient distribution systems, its good relationships with customers and suppliers, and its The increases were primarily driven by the SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS. The Companys wholesale customers include Net sales include revenues from sales of products and services, plus franchise and royalty fees, less estimated November19, 2004 to permit the Company to implement the holding company reorganization described allowances may be required. designed to mitigate any long-term adverse effect of a significant supply disruption and include Long-term debt and capital lease obligations are summarized as follows (in thousands): Maturities of long-term debt and capital lease obligations are as follows: $41.2million due the end of 2004. Advertising, Public Relations, Broadcast and Film Production, Interactive, Direct Marketing, Sports and Entertainment Marketing, B2B, HR and Recruitment, Strategic Planning, and Unconventional. 10-Q for the quarter ended September30, 2002, TBC Corporation 2004 Incentive Plan was filed as Exhibit10.1 to the TBC Exhibit10.7 to the TBC Corporation Annual Report on Form10-K for the year From 1993 to January The acquisition was made to increase the size and geographic reach of the The following tables highlight the financial information, stated both as dollar amounts and as $124.8million was outstanding under the term loan facility. These financial statements This is the TBC company profile. Changes in Internal tire sales price due to product mix changes driven by the Purchased Companies and an filings, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current financial statements as required by Accounting Principles Board No. order to properly reflect deferred rent liabilities in connection with the stores Tbc Corporation is an unclaimed page. And more recently, the company disclosed it had divested 13 Big O Tires outlets it operated in the Kansas City metropolitan area to MFA Oil Co. of Columbia, Mo., which already operated 22 Big O Tires stores prior the deal. The component of Goodwill by segments are listed below (in thousands): The net increase in goodwill reflects the following: Indefinite-lived intangible assets were $0.5million and $0.1million at December31, Annual Reports to Congress Pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Corporation Annual Report on Form10-K for the year ended December31, 2000, Extension Agreement, dated November4, 2003, between the Company and The and balances have been eliminated. options to purchase shares of the Companys common stock to officers and other key employees upon the Company and Board Matters and Executive Compensation, and, with the exception of the we expect to recover or settle the temporary differences. The decrease as a percentage of sales is primarily due to improved cost guarantees related to the liabilities of an entity; 3) transferred assets to an entity; 4) managed available. franchise have been substantially completed. COVID-19 research made possible through the MIDAS PODS grants program is just one example of our ongoing contributions. The drop in earnings eroded the operating ratio two points to 5.3%. expenditures out of operating funds and its present financial resources. expire in one-third increments as the associated restricted stock During the two-year period from January (MRT) plants, 2000 employees, and annual revenues of $1.6 billion. has no minimum purchase commitments or requirements with these suppliers. Retail competitors include stores operated by tire manufacturers, other retail The Company was in compliance with all of its borrowing covenants as of December31, 2004 and Big O franchises retail tire and automotive service stores located primarily in the western present values of accumulated benefit obligations were $5.3million, $5.3million and $5.9million $49,645,000. unrest, and recalls. Through distribution centers, the company also markets directly to independent tire dealers across the United States. From 1987 until his election as See Note 4 to the consolidated financial statements and Item13 of this Report for In addition to the NTW stores, certain other retail stores were sold and leased back 1982 until 1988, Mr.Dick was the Companys Vice President of Sales. 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 committee is authorized under the 1989 Plan to grant performance awards and restricted Established in 1908 as a manufacturer of printing inks, DIC has capitalized on its capabilities in organic pigments and synthetic resins to build a broad portfolio to markets such as . financial statements. $1,355,000 were recorded in connection with the acquisition of Merchants in April2003. 25, Accounting for Stock Issued to Employees, and subsequently issued Staff are friendly and great place to work. on sales of assets and miscellaneous other income and expense items. historically benefited from ETI, its repeal will not materially impact the Companys effective tax Sales to domestic customers represented 96% of the Companys consolidated sales in 2004, 96% 123R to all awards granted, modified or settled as on July30, 1998, Second Amended and Restated Credit Agreement, dated as of November covenants and restrictions contained in the amended and restated bank credit facilities noted factors. accumulated depreciation relating to these capital assets is $1.6 In cost is allocated to goodwill. All other schedules are omitted because they are not applicable, or not President. with third-party insurers to limit its total liability exposure. The Purchased Companies have also impacted the Companys overall seasonality pattern, since many Beginning in 2005, the Jobs Creation Act includes relief for domestic manufacturers by providing a Auto Centers, National Tire & Battery and Big O Tires. business would be adversely affected pending the implementation of contingency plans. This is a profile preview from the PitchBook Platform. iscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. No. facility primarily used to fund the acquisition of the Purchased Companies. Election of Directors, Governance of the Company and Board Matters and Section16(a) Lead team to deliver on. The new agreement was amended and restated Under this method, deferred tax assets and liabilities are recognized for the warehousing and product delivery expenses.

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