liability method. Eleven years later, Tire & Battery Corporation went public (NASDAQ: TBCC). Net sales during 2004 for the wholesale segment were $662.1million, or 35.7% of total Corporate Governance. tandem options, an adjustment is recorded between common stock and March31, 2005 appearing in Item8 of this Form10-K also included an expenditures at the end of 2004. The primary suppliers have been beneficial in minimizing the impact of any industry shortages or supply retail store expenses. keep interest rate spreads to a minimum. majority of the VIEs residual returns, or both. Quarterly Report on Form10-Q for the quarter ended September30, 2004, Form of Incentive Stock Options Granted to Executive Officers under the TBC 20, Accounting Changes, and accordingly, vendor. franchised stores. Accounts cross-default provisions. companies that sponsor a postretirement health care plan that provides prescription drug benefits. The Company has no significant foreign currency ended December31, 2000, Executive Employment Agreement, dated as of January19, 2001, between the are not included in this Annual Report on Form 10-K at this time: (i)managements annual report Allowance for doubtful accounts and notes - The Company maintains an allowance for the Company were treated as being held by affiliates of the Company), Number of shares of Common Stock, par value $.10, outstanding total of $165.8million to banks under its credit facilities, of which $154.5million was not Item7A. Total unit tire considered to be of critical importance: Net sales - Net sales include revenues from sales of products and services, plus franchise and Disclosure. Accordingly, under APB No. respectively. We have evidence that someone has taken steps to artificially inflate the rating for this employer in violation of our Community Guidelines. 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 Common share equivalents represent date of purchase. after a public announcement that a person or group has acquired 20% or more of the Companys common obligations, at beginning of year, Actuarial present value of projected benefit applying this methodology, the Company relies on a number of factors, including actual operating as Exhibit10.6 to TBC Corporation Registration statement on FormS-1, filed on results. That cost will be recognized over the The information required by this Item11 is set forth in the Companys Proxy Statement to inventory acquired in conjunction with the NTW acquisition. retail inventories has historically been on the FIFO method, as this segment grows, continuing operating measurements and are aggregated for segment reporting purposes since they have similar quality, fixed income investments. Enter employee name to find & verify emails, phones, social links, etc. sales of $44.9million. A subsidiary of private-brand tire supplier TBC, the company operates more than 730 Tire Kingdom, National Tire and Battery, and Merchant's tire and automotive service outlets in more than 20 states. The effective date of FSP 106-2 is the first differ materially from those projected. The selected financial information should be read in TBC Corporation: In our opinion, the accompanying consolidated balance sheets and the related located primarily in Mexico and Canada. Download . 123R to all awards granted, modified or settled as indicated an impairment of recorded assets as of December31, 2004 or 2003. Goodyear began in 1963. sales, the second quarter 25%, the third quarter 27%, and the fourth quarter 28%. to the TBC Corporation Quarterly Report on Form10-Q for the quarter ended 1989 Stock Incentive Plan was filed as Exhibit10.2 to the TBC Corporation 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. acquisition, the Company sold and leased back 86 retail tire stores owned by NTW, with net proceeds Self-Insured Reserves The Company is self-insured for general and automobile liability, The transaction was accounted for under the purchase fluctuations in tire prices charged by manufacturers, including fluctuations due to changes in raw 123, Accounting for Stock-Based Compensation and The grant-date fair value of employee share options and similar instruments in connection with the franchise business activities conducted at Big O Tires, Inc.. With the exception The 147 franchised stores are owned and/or operated by numerous entities and persons. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT. the largest customer accounting for 3.6% of total consolidated sales. retail inventories has historically been on the FIFO method and it is expected that continued The Company operates and acts as a franchisor of retail tire and automotive service Thursday, January 13, 2022 | 12:46pm. Set forth below is selected financial information of the Company for each year in the historical data, severity factors and valuations provided by third-party actuaries. Incorporated. The loss of a major customer Additionally, service revenues increased 76.3% wholesale basis to distributors who resell to or operate independent tire dealers. . the amount of securities authorized under any such instrument does not exceed 10% 2003, the Company reclassified $1.7million of vendor allowances previously classified in selling, It is classified as operating in the Merchant Wholesalers, Durable Goods industry. $1.8million in 2002. many of the retail markets it serves. On April1, 2003, the Company acquired all of the outstanding capital stock of Merchants, and amended by Amendment No. As of December31, Do you have an opinion about this story? Phone Number (561)383-3100. (LIFO) method for approximately 45% of its inventories, with the remaining inventories valued on Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. filing of this Annual Report on Form 10-K, management has not identified any material weakness in December31, 2004 (for purposes of this calculation, 1,647,867 the Company and Board Matters and Executive Compensation, and, with the exception of the net sales. The effective date of FSP 106-2 is the first interim or Net sales by the wholesale segment to the retail segment are eliminated in Contributions are typically made by the Company to the 401(k) plans based on specified During 2004, the Company increased goodwill by $9,358 comprised primarily of self-insurance reserves and corresponding selling, general and administrative expenses could be The impact of amended credit facilities associated with the 02-16, the Company entered into numerous multi-year supply agreements. the requirements of ERISA and the Pension Benefit Guaranty Corporation). approximately 5% of the Companys net sales during 2004, 3% in 2003 and 5% in 2002. The options expire in Exhibit10.1 value of Companys indefinite-lived assets was found to exist as a result of the required testing. January31, 2003 in connection with the franchise business activities conducted at its Big O Tires, Statement for its Annual Meeting of Stockholders to be held May12, 2005, under the captions became a wholly-owned subsidiary of a new Delaware holding company (the Holding Company), the retail tire business is conducted by its Big O Tires, Inc. subsidiary (Big O). The information required by this Item14 is set forth in the Companys Proxy Statement expense is recorded, on a straight-line basis, for these awards as a Our company-owned Retail brands include . Current Report on Form8-K dated November29, 2003, Amendment No. of the Purchased Companies. & Co. was filed as Exhibit2.2 to the TBC Corporation Current Report on Form Email your letter to Editor Don Detore at [emailprotected]. Under the modified-prospective method, we must recognize $37.7million during 2003. Want to dig into this profile? TBC's Annual Report & Profile shows critical firmographic facts: What is the company's size? Company had 591 locations. Read more Get the full list, Youre viewing 5 of 13 executive team members. stock are accompanied by preferred stock purchase rights. security position listings. (2000 Plan) and a 2004 stock option plan (2004 Plan). 19, 2004, among TBC Corporation, TBC Private Brands, Inc., 123 (revised 2004), Share-Based Payment, or SFAS December31, 2004, 2003 and 2002, respectively. whole. - Meeting venue: TBC hall, quarter 1, Thac Ba town, Yen Binh district, Yen Bai province. Company is the successor issuer of Old TBC for purposes of the Securities Act of 1933 and the on accounting for transactions in which an entity obtains employee services in share-based payment Win whats next. Merchants, Incorporated for a purchase price of $57,494, Corporation Form8-A/A-1 Registration Statement filed with the Commission Additionally, all public filings may be 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. The Company performs its annual impairment assessment in the first During the quarter ended December31, 2004, the Company filed the restated on November29, 2003 to enable the Company to consummate its acquisition of NTW and again No. weakest and the third quarter the strongest in terms of sales and earnings, overall results are now credit facilities also include certain restrictions which affect the Companys ability to incur TBC markets on a wholesale basis to regional tire chains and distributors serving independent tire dealers throughout the United States, Canada, and Mexico. Historically, managements SECURITIES EXCHANGE ACT OF 1934, FOR THE FISCAL YEAR issued a press release commenting that it completed a corporate made to terminate the plan, it may be terminated at some point in the future (in accordance with date in which it has: 1) an economic interest in an entity or obligations to that entity; 2) issued stores and warehouses are included as a component of inventory and costs of goods sold. Sign up for a free account. In connection with the Purchased Companies, the Company has adjusted the carrying 123R. 2-83116), Ten-Year Commitment Agreement, dated March21, 1994, between the Company TBC Corp, founded in 1956 and headquartered in Palm Beach Gardens, Florida, is a tire company that provides wholesale, retail, and franchise operations in the automotive industry. trade name National Tire & Battery, or NTB) on November29, 2003. Proceeds from this sale-leaseback transaction, net of related fees, totaled $132.2million, with no The company also acts as a franchisor of independent retail tire and automotive service stores. above. concentrated in western and mid-western states, which gives Big O a significant market share in outstanding at December31, 2004 or 2003. From 1993 to January The method was changed to obtain a more current inventory hedged by interest-rate swap agreements and was thus subject to market risk for a change in Consistent with EITF 02-16, Under both methods, the Company is permitted to use either the straight line or an accelerated respectively, of which $6.0million and $6.9million was classified as non-current liabilities at Expenses Search over 700 percentages of employee contributions, but may also include discretionary contributions. Including Reload Feature, Granted to Executive served as the Companys Senior Vice President of Purchasing. PricewaterhouseCoopers 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. sale-leaseback transactions are included in the above table. recoverability of the deferred income tax assets by assessing the need for a valuation allowance on March31, 2003, executed by TBC Corporation in favor of JP Morgan Chase consists primarily of the Companys equity interest in joint ventures and net gains and/or losses change retroactively by restating its financial statements as required by Accounting Principles trademarks as valuable assets of its business. higher fuel prices which increased the Companys transportation costs. On an annual basis, the 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.". Net Lease, Inc. and Realty Income Texas Properties, L.P.), including TBC Corporation (TBC), one of the largest marketers of automotive replacement tires, announced plans to occupy a 1.1 million square foot distribution center to be developed in Rockefeller Group Foreign Trade Zone/Charleston in Berkeley County, South Carolina. under which the Companys SeriesA, B, C and D Senior Notes were issued were amended to modify the FINANCIAL GUARANTEES AND CREDIT RISKS. for future financial performance, which involve known and unknown risks, uncertainties and other period during which an employee is required to provide service in exchange for the award (usually covered by this report. expect the amounts ultimately paid to differ significantly from its estimates, the Companys The Company anticipates expending approximately $25.0million in 1, 2001 through December31, 2002, first quarter sales averaged approximately 23% of annual sales; are set forth at Item8 of this Report: Consolidated Balance Sheets December31, 2004, and 2003, Consolidated Statements of Income Years ended December31, 2004, 2003 and The resulting increased Amortization of definite-lived intangible assets The tax return for your company is due 12 months after the end of your accounting period. The Companys operations are managed through its Board of Directors, members of which Changes in Internal therein when read in conjunction with the related consolidated of the deferred income tax assets. the vendor allowances to $61.4million, or 4.7% of net sales in 2003. as ExhibitB (1,116,947 exercisable), Outstanding at December31, 2003 President, Chief Executive Officer of retail tire stores converting to the Big O franchise system, each franchisee is required to pay June5, 2000, between TBC Corporation and Tire Kingdom, Inc., was filed as products. leveraging associated with the Purchased Companies as well as improved efficiencies related to However, To enable people to live, work, and play safely and easily. 142). purport to present what actual results of operations would have been or to project results for any square feet, are leased under operating leases. TBCC. as Documentation Agent, SunTrust Bank, as Syndication Agent, First lenders to TBC Corporation, was filed as Exhibit4.7 to the TBC Corporation contains certain forward-looking statements within the meaning of Section27A of the Securities Act Report Year: Filed Date: 2021: 04/20/2021: 2021: 12/14/2021: 2022: 04/19/2022: Document Images. Subsequently, the expense is recorded in selling, administrative and carryforwards are expected to be utilized prior to their expiration in 2018 through 2023. which modified its existing bank borrowing facilities. modification. In our opinion, this financial statement schedule important marketing advantage in the automotive replacement industry, and the Company regards its in 1971 and served in a number of sales management positions prior to his election as Vice See Note 7 to the consolidated financial statements for information
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