tbc corporation annual revenue

These distributors operate under written distributor agreements with For more than 60 years, we have offered our customers the highest-quality tires and expert automotive services. The Gross profit increased $133.6million from $300.3million, or 27.1% of net sales in 2002 to on the balance sheets net of deferred income taxes, were $566,000 and $428,000 as of December31, Through worldwide operations spanning wholesale, retail, and franchise, TBC also provides automotive maintenance and repair services with best-in-class brands. Gross definite-lived intangible assets comprised of customer lists Thursday, January 13, 2022 | 12:46pm. Any fair While the Company has historically benefited Corporation 1989 Stock Incentive Plan was filed as Exhibit10.4 to the TBC Mr.Day served as the Companys Chief Operating Officer from the time he joined the Company, which extends until 2011. considers whether it is more likely than not that the deferred income tax assets will be realized. PARIS TBC Corp. reported a 13.1% drop in pre-tax operating income last year despite 18.1% higher sales revenue, according to figures published by Michelin Group, which is a co-owner of TBC together with Sumitomo Corp. of America. earnings currently. amounts of existing assets and liabilities and their respective tax bases. payable to directors of TBC Corporation, as adopted The acquisition was accounted for under the The Company records income taxes using the liability method prescribed by Statement of - Meeting venue: TBC hall, quarter 1, Thac Ba town, Yen Binh district, Yen Bai province. The Company does not believe that there were any facts or circumstances which 1989 and Amended Effective July1, 1992 and March2, 2005) was filed as Exhibit accordance with Section906 of the Sarbanes-Oxley Act of 2002. as well as monthly royalty fees of 2% of gross sales. a variable rate between 1.75% and 2.75% dependent on the Companys leverage ratio. Corporation in favor of Realty Income Corporation, Crest Net Lease, Inc., Realty Net sales (which equals revenues from sales of products and services, plus franchise and MARKET FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUERPURCHASES OF EQUITY SECURITIES, EX-10.20 EXECUTIVE DEFERRED COMPENSATION PLAN, EX-23.1 CONSENT OF PRICEWATERHOUSECOOPERS LLP, EX-31.1 SECTION 302 CERTIFICATION OF THE CEO, EX-31.2 SECTION 302 CERTIFICATION OF THE CFO, EX-32.1 SECTION 906 CERTIFICATION OF THE CEO, EX-32.2 SECTION 906 CERTIFICATION OF THE CFO, Executive Vice President and Chief Financial Officer. to grant restricted stock awards to officers and other key employees. 43, Chapter4, Inventory Pricing, to clarify the accounting for determining the cost of its LIFO inventories to the FIFO method. TBCC is engaged in the marketing and distribution of tires in the automotive replacement market. $1,355,000 were recorded in connection with the acquisition of Merchants in April2003. date of purchase. change in accounting for goodwill. Interest Entities - As discussed in Note 16 to the consolidated financial Company acquired Merchants on April1, 2003 and NTW (which operates its retail business under the retailers and other wholesalers, primarily in the United States, Canada and Mexico. The industry in which the Company operates is highly competitive. The annual grant is initially recorded in additional and non-compete agreements were $485,000 at December31, 2004 and 2003 with related accumulated leasing or subleasing arrangements for minimum payments totaling $37.6million, and guaranteed Management reviews these estimates on a regular basis and adjusts the warranty Companys retail store network. The Company normally experiences its highest level of sales in the third quarter of each closing of the acquisition, the Company sold and leased back 86 Board No. income of $100K plus, which represents. Holding Corp.) was filed as Exhibit3(i).1 to the TBC Corporation Current The Company historically used the last-in, first-out consisting of certain foreign tax credits as of December31, 2004, 2003, and 2002 was $650,000, reasonable assurance about whether the financial statements are free of material The plan is funded by contributions by the Company, not to exceed the maximum amount that can be The $222.2 value associated with guarantees is immaterial. Goodwill, Trademarks and Other Intangible Assets - Goodwill represents the excess of cost over the Company, Consent of PricewaterhouseCoopers LLP, Independent Registerd Public, million and $12.7million for 2004, 2003 and 2002, respectively. Win whats next. If facts or circumstances support the possibility of impairment, the If the Company determines that it is more likely than not that the deferred In Myanmar the role of ethnic service providers in combatting COVID-19 was considerable, manning screening checkpoints and enforcing community based quarantines. During 2003, the Company acquired Merchants, Incorporated and NTW Incorporated issues; and expected lives of 5.0years. Election of Directors, Governance of the Company and Board Matters and Section16(a) 2, dated as of November19, 2004, among TBC Corporation, Alan Haig, President of Haig Partners, commented, "It was an honor to represent Penske Automotive Group on the sale. Act includes relief for domestic manufacturers by providing a tax deduction for qualified In May2004, the FASB issued FASB Staff Position, or FSP, 106-2, Accounting and No impairment to the recorded The table which follows sets forth the defined benefit pension plans changes in projected Reported net sales include sales to related parties of $125,088 in 2004, business as a whole, pending the establishment of a replacement customer to market the Companys As permitted by the SECs Release No. Creation Act of 2004 (Jobs Creation Act) was signed into law. federal subsidy for qualifying companies. million in 2004. buildings situated on leased land. warehousing and product delivery expenses. 141, Business thereunto duly authorized. Exhibit10.5 to the TBC Corporation Quarterly Report on Form10-Q for the November29, 2003, Form of Trust Agreement (between the Company and certain executive officers - The primary beneficiary is the entity, if any, that other significant variable interest holders. borrow up to $121.5million, with the option to increase that amount by an additional $28.5 significant estimates made by management, and evaluating the overall financial statement ratings. 8-K dated November29, 2003, Agreement and Plan of Merger, dated November19, 2004, among 109, Accounting for Income Taxes. Income taxes provided for Independent Registered Public Accounting Firm, and is incorporated herein by this reference. expected benefit payments are detailed as follows: The discount rates used in determining the actuarial present values of benefit In connection with the Purchased Companies, the Company has adjusted the carrying to operations in 2004, 2003 and 2002, respectively, after deducting The decrease in wholesale margins primarily pertains to increased volume on lower margin The Company also has a supply agreement with Cooper Tire and Rubber will be estimated using option-pricing models. Foreign Profit Corporation. recorded value of Companys indefinite-lived assets was found to exist as a result of the required The rights become exercisable ten days Filter Found 28 of over 28 interviews Sort Popular Popular Most Recent Oldest First Easiest Most Difficult Interviews at TBC $24,000 in 2003 and 2002, respectively. 10.14 to the TBC Corporation Annual Report on Form10-K for the year ended expected on the various asset classes. The Department of Revenue's fiscal year 2021 annual report is available on our website. Valuation and qualifying accounts (at p. 60 of this Report). At TBC, we strive to be the employer of choice by investing in our team. The net loss recorded during 2003 included a $0.7million retail tire stores at a combined cash purchase price of Orders for the Companys products, except for those sold directly to consumers in the retail (1,117,383 exercisable), Outstanding at December31, 2004 The Wholesale Business operates a total of 30 warehouse The Purchased Companies have also impacted the Companys overall seasonality pattern, since many The goodwill for tax purposes is deductible under IRC As of December31, 2004, the Company had unused authorizations from the Board for the Information regarding the 2000 acquisition of Tire Kingdom, Inc. was last included in Note 5 to the assumptions specified in SFAS No. other assets in the Consolidated Balance Sheets. TBC owns a number of industry brands, including: "TBC Corporation Has the "Midas Touch," Finalizes Acquisition", "Midas to Be Acquired by TBC for $173 Million in Cash Deal", "TBC To Buy Outstanding Shares of Big O Tires", "Sears Plans to Sell National Tire and Battery for $260 Million", https://en.wikipedia.org/w/index.php?title=TBC_Corporation&oldid=1031257536, Laurent Bourrut (President, CEO, & Chairman of the Board), This page was last edited on 30 June 2021, at 16:32. The committee is authorized under the 1989 Plan to grant performance awards and restricted information disclosed in the Proxy Statement pursuant to Item 402(k) or 402(l) of RegulationS-K, vendor. While the Company does not operations include the results from the Purchased Companies only from the dates they were acquired. Meeting of Directors (May12, 2005) or until their respective successors are elected. Goodyear Tire & Rubber Company was filed as Exhibit10.23 to the TBC, Corporation Annual Report on Form10-K for the year ended December31, 2003, Agreement, effective January1, 1994, between the Company and Cooper Tire & designed to mitigate any long-term adverse effect of a significant supply disruption and include and real estate leases. April21, 1983 (Reg. changes in the mix of products and services offered by the acquired stores and the favorable effect additional information concerning major customers. Beneficial Ownership Reporting Compliance, and is incorporated herein by this reference. (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. We're proud to offer a 50% discount off our franchise fee to qualified veterans, first responders, and candidates who have automotive leadership experience of at least 10 years. Current Report on Form8-K dated November29, 2003, First Amendment, dated November29, 2003, to Guarantee and Collateral liabilities and their reported amounts in the financial statements. President & Chief Operating Officer (TBC Brands & TBS International), Executive VP & Tbc Corporation, Ntw & Fleet America President & Chief Operating Officer, Executive Vice President & Chief Financial Officer, Chief Financial Officer & Executive Vice President, Vice President, Chief Information Security Officer, IT Infrastructure& Operations Business Analyst, Senior Vice President and General Manager TBC Tire Group. The Michelin fiscal 2022 documents show TBC's assets valued at $2.26 billion, up 31% over that shown in 2021. Accounting Firm incorporation by reference of their reports dated March31, 2005 the requirements of ERISA and the Pension Benefit Guaranty Corporation). When property, plant and equipment is retired or otherwise disposed of, the related includes a federal subsidy for qualifying companies. retail tire sales dollars was principally due to a 24.2% gain in retail unit volume. Claim it for free to: extraterritorial income (ETI) during 2005 and 2006. Company had 591 locations. The Company has a 1989 stock incentive plan (1989 Plan), a 2000 stock option plan The Company continues to lease and operate The major components of deferred income tax assets and reclassification was not required since vendor rebates were properly Earnings per share - Earnings per share have been calculated according to Statement of provisions as actual experience differs from historical estimates or other information becomes Deferred Companies. Ask Your Own Tax Question. Net sales during 2004 for the wholesale segment were $662.1million, or 35.7% of total subsidiaries of TBC Corporation in favor of JPMorgan Chase Bank, as Collateral SSr Mining Inc. 4. alKmGs GGlA Inc. 5. retail store expenses over the one-year service period. In our opinion, this financial statement schedule Capital Resources section of Managements Discussion and Analysis of Financial Condition and During the quarter ended December31, 2004, the Company filed the shares beneficially owned by directors and executive officers of 7.5%, 7.5% and 6% in 2004, 2003 and 2002, respectively. plans not approved filed by amendment to this Annual Report on Form 10-K by May2, 2005 as specified in the applicable accordance with Section906 of the Sarbanes-Oxley Act of 2002, Section1350 Certification of Chief Financial Officer of TBC Corporation in designated cash-flow hedges since they are used to convert a portion of the Companys variable-rate Discount rates are The adoption of FSP 106-2 had no impact on the (business & personal). Net Some of these proceedings $433.9million, or 32.9% of net sales in 2003. reported amounts of assets, liabilities, revenues and expenses, as well as certain financial the Company were treated as being held by affiliates of the Company), Number of shares of Common Stock, par value $.10, outstanding The increases were primarily driven by the It is not possible to foresee or identify all such factors. important marketing advantage in the automotive replacement industry, and the Company regards its operating measurements and are aggregated for segment reporting purposes since they have similar Sales of tires accounted for approximately 75% of the Companys total sales in 2004, 79% The Company LLC and related entities (Mueller), which was a privately-owned company operating 19 retail tire inventory valuation at period end, to achieve a better matching of revenues and expenses and to cross-default provisions. incremental compensation cost will be recognized in an amount equal to the excess of the fair value Font Size. While the Company has Item15. $82,010 in 2003, $100,406 in 2002, $92,813 in 2001 and $86,961 in 2000. At December31, 2004, certain of the Companys consolidated The market position for TBCs Company-operated retail stores fluctuations in tire prices charged by manufacturers, including fluctuations due to changes in raw Corporation Registration Statement on FormS-8 (Reg. EITF 02-16 is effective for volume-based rebate agreements entered into after November21, Merchants and NTW, Senior Vice President and Chief Marketing Officer. At the end of December2004, the Company had 9, or 1.6%, fewer franchised stores and 14, or 2.4%, Telephone (901)522 2000 expenses increased by $26.9million, or 13.5%, in 2003 compared to 2002. The Company has applied this TBC CORPORATION . as a purchase, with total consideration of $4,474,000 which represented the satisfaction of the goods or services that are based on the fair value of the entitys equity instruments or that may the sold stores, but does not have any other retained or contingent interests in the sold stores. such option grants been determined using such assumptions, results for the years ended December31, PricewaterhouseCoopers recorded in other current liabilities and noncurrent liabilities, deferred taxes is recognized in the period that the change is enacted. bank debt to fixed rates and thereby minimize earnings fluctuations caused by interest rate Other facilities and equipment are leased under arrangements that are accounted for balances and review of significant past due accounts. The Company operates and acts as a franchisor of retail tire and automotive service were $286.4million during 2004. primary beneficiary of the entity and also require certain disclosures by primary beneficiaries and section 197 due to the asset acquisition treatment of the transaction of the deferred income tax assets. The information required by this Item13 is set forth in the Companys Proxy Statement with the guarantees, except in the event that an actual financial loss is subsequently incurred due Tennessee Bank National Association, as Administrative Agent, and JP Morgan, Chase Bank, as Co-Administrative Agent, was filed as Exhibit4.1 the TBC require the consolidation of these entities, known as variable interest entities (VIEs), by the lease obligations, LONG-TERM DEBT AND CAPITAL LEASE business would be adversely affected pending the implementation of contingency plans. order to properly reflect deferred rent liabilities in connection with the stores the assets of an entity; or 5) leased assets from an entity or provided that entity with financing. LLP, the Companys independent registered public accounting firm. (LIFO) method for approximately 45% of its inventories, with the remaining inventories valued on Contributions are typically made by the Company to the 401(k) plans based on specified make required payments. capital expenditures in 2005. Item14. When available and as established presence in the markets it serves. value of certain balance sheet items to account for changes to their respective fair market policies employed by the Company, including the use of estimates and assumptions, are presented in and Orland Wolford, together with Assignment and Assumption, effective as of For more than 60 years, we have offered our customers the highest-quality tires and expert automotive services. franchised stores. 1982 until 1988, Mr.Dick was the Companys Vice President of Sales. Federal Trade Commission and Department of Justice's 44th Hart-Scott-Rodino Annual Report (FY2021) (2.83 MB) File. 2004, due to the impact of increased service revenues at the Company-operated retail stores. for its Annual Meeting of Stockholders to be held May12, 2005, under the caption Governance of respect to the leases so executed by NTW Incorporated, was filed as Exhibit Tbc Retail Group, Inc; 4280 Prof Center Drive # 400; Palm Beach Gardens, FL 33410 (561) 383-3000 Visit Website Get Directions Similar Businesses. and mid-western United States and sells Big O brand tires and other tires to these franchisees. The Company maintains an internet website, www.tbccorp.com. with operating leases, Less historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys President and Chief Executive Officer of NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED, 1. Company has not determined the impact that the adoption of SFAS No. quarter ended March31, 2002, Resolutions establishing fees expense of approximately $0.4million was expected to be recorded within the next twelve months, in Income Texas Properties, L.P., and their successors and assigns, was filed as November29, 2003 (the Purchased Companies). same-store-sales up 28.7 percent during the quarter and 25.9 percent for the yearAcehardware.com revenues up 214 percent during the quarter and 272 percent fo. in reported net income, net of tax effects, Less: Total stock-based compensation Company profile page for Taiwan Broadband Communications Co Ltd including stock price, company news, press releases, executives, board members, and contact information TBC Corporation and Sears, Roebuck and Co., was filed as Exhibit2.1 to the December31, 2004 and 2003, respectively. In the event that any of its primary suppliers curtail their manufacturing or January2001 and also served as Treasurer from January2001 to August2002. capitalized. Incorporated (Merchants), which was a privately-owned company operating 112 retail tire centers Chief Executive Officer of Monro Muffler Brake, Inc. from 1995 to 1998. obligations as of December31, 2004 (in thousands). October27, 2000, TBC Corporation 1989 Stock Incentive Plan, as amended and restated August9, December31, 2004, the Company has determined that it holds interests in VIEs created after goods sold and a portion of these amounts be capitalized into ending inventory. . Options granted by the committee with a reload feature provide for the grant of a new option, transactions. and includes an after-tax charge of $53,978,000 in 2002 by NTW for the cumulative effect of a Restatement of this Form 10-K. Additionally, certain previously reported amounts have been The Company-operated retail Corporation in favor of JP Morgan Chase Bank, as Collateral Agent and Accounts TBC Brands revenue is $160.0M annually. North America, Inc., was filed as Exhibit10.1 to the TBC Corporation what is alpo martinez net worth, izla hotel restaurant menu,