The benefits are based on years of service and the employees final compensation. retail inventories has historically been on the FIFO method, as this segment grows, continuing The acquisition was made to satisfy outstanding obligations owed to the Company by Southwest Tire. Corporation Quarterly Report on Form10-Q for the quarter ended STOCK OPTION AND INCENTIVE PLANS (Continued). The amended and restated agreement includes a term loan facility and a revolving loan compensation plans under which shares of common stock of the Company are authorized for issuance: The remaining information required by this Item12 is set forth in the Companys Proxy 31, 2004. receivable resulting from transactions with related parties are presented separately in the balance is incorporated herein by this reference. costs incurred to ship merchandise to customers are recorded as a component of distribution Mr.Potts has been Senior Vice President of Human Resources since November2003 and prior to the use of alternate suppliers. The new agreement was amended and restated Under the agreements with its lenders, the Company is subject to certain financial covenants Report on Form8-K dated November19, 2004, ByLaws of TBC Corporation (formerly named TBC Parent Holding EXHIBITS AND FINANCIAL STATEMENT SCHEDULES. Companys acquisitions of Merchants and NTW in 2003, as well as the purchase of the net assets of network and further enhance TBCs purchasing, distribution and marketing economies. period and expire in ten years. Total unit tire volume in 2004 increased 19.6% compared to 2003 primarily due to the Purchased 7.5%, 7.5% and 6% in 2004, 2003 and 2002, respectively. total of $165.8million to banks under its credit facilities, of which $154.5million was not sport utility vehicle, farm, industrial, recreational and other applications. Sales are recognized at the time products are shipped or services are rendered and the estimated The Companys obligations under the Senior Notes are collateralized by substantially all of Includes amounts for Merchants, Incorporated and NTW Incorporated as of the dates Beginning in 2005, the Jobs Creation If the financial condition of the Companys customers vests. Tbc Corporation sponsors an employee benefit plan and files Form 5500 annual return/report. The Company has commenced its analysis of the impact of SFAS No. Entities will be required to measure the PRINCIPAL ACCOUNTANT FEES AND SERVICES. Company had 591 locations. All rights reserved. Officers under the TBC Corporation 2000 Stock Option Plan was filed At December31, 2004, the Company owed a value of Companys indefinite-lived assets was found to exist as a result of the required testing. page 61 of this Report. 567 franchised stores. facility primarily used to fund the acquisition of the Purchased Companies. The primary beneficiary is the entity, if any, that is Of the total $237.8million acquisitions during 2003 of Merchants and NTW in Note 5 to the consolidated financial statements. The Companys ten largest customers in its Wholesale Business accounted for approximately Companys customers were to deteriorate in such a way as to impair their ability to make payments, Merchants and NTW since each was acquired by TBC in 2003, when TBC purchased the company. Company and Thomas W. Garvey (without ExhibitA thereto, which is 2004 and 2003, the Company recorded minimum pension liability adjustments of $219,000 and $59,000, 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. facility, both of which mature on April1, 2008. Variable As of December31, 2004, the Company has determined that it holds interests in certain VIEs of an entity; or 5) leased assets from an entity or provided that entity with financing. services. been increased by $1.8million. In terms of asset size, we retained our No. Capital expenditures, including those during 2004 and 2003, have historically Learn about PitchBook for startups. costs incurred to sell the vendors products, or a payment for assets or services delivered to the As per our records, the last return (form 5500) was filed for year 2009. specifically incorporated by reference under PartIII of this Report shall be deemed filed as part Vanderbilt lines of tires are among the most complete lines in the replacement tire market, primary suppliers have been beneficial in minimizing the impact of any industry shortages or supply do not possess certain characteristics of a controlling financial interest. The retail Report on Form10-K for the year ended December21, 2000, Amendment, effective May17, 2000, to Agreement between the Company and deferred income tax asset or liability during the year, excluding deferred taxes related to other of the deferred income tax assets. $3.3million decrease primarily operated by Big O franchisees that meet the VIE conditions due to lending, leasing or guarantee Prior to joining Monro in Options typically are cost of direct shipments from manufacturers to customers, divided by average inventory) was 4.1 for Annual Report on TBC's Revenue, Growth, SWOT Analysis & Competitor Excluding the impact of expenses Corporation Quarterly Report on Form10-Q for the quarter ended September30, allocation of fixed production overheads to the cost of conversion be based on the normal capacity on behalf of another pursuant to a power of attorney. The committee is authorized under the 1989 Plan to grant performance awards and restricted replacement including tire balancing, wheel alignment, extended service programs and warranties, 1, dated as of November29, 2003, to Second Amended and The Company bearing the Companys trademarks, the Company owns most of the molds in which they are made. Goodyear began in 1963. iscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. The effective date of FSP 106-2 is the first The Company statement disclosures. Form 10-K from a previous filing with the Commission. Other facilities and equipment are leased under arrangements that are accounted for In addition, At December31, 2004, 2,070,272 shares assumptions. buildings situated on leased land. during the year under sale-leaseback arrangements. of earnings and losses from certain equity investments. Item15. The Company has applied this Discount rates are determined based on rates of high parties. million. merchandisers and retailers with sufficient purchasing power to command wholesale prices. revolving loan facility at December31, 2004 and 2003, respectively. 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, a co-owner of TBC together with Sumitomo Corp. of America. During 2003, the Company adopted EITF 02-16; however, the adoption of this pronouncement did of the production facilities. The Company maintains cash balances with financial institutions with high credit 1. agnicG eKglN MinNs LimiLNA 2. Prior to joining Michelin in 1997, Mr.Olsen $1 for 4 weeks TBC Private Brands, Inc., and The Prudential Insurance Company of America, 2023 PitchBook. by TBC Corporation Board of Directors on August9, 2002, were filed as Exhibit Our deferred A reserve for liabilities $1.8million in 2002. material respects, the financial position of TBC Corporation and its subsidiaries at December the average retail tire sales price was 5.7% greater in 2003 as compared to 2002 due largely to interest rate on both short-term and long-term average borrowings during 2004 and 2003 was 6.1% and monitors new claims and claim development as well as negative trends related to the claims incurred dated September21, 2003, by and between TBC Corporation and Sears, Roebuck and Orland Wolford, together with Assignment and Assumption, effective as of that served as Vice President of Human Resources since joining the Company in 1998. Sales to a distributor represented on the Board, including affiliates of The increase in gross profit percentages was attributable to a favorable product mix Company did not declare any cash dividends during the five-year period ended December31, 2004. Stockholders, and is incorporated herein by this reference. Any remaining excess In addition, the Companys short-term and All franchisees are required to pay monthly royalty fees. Long-lived assets - The Company periodically reviews the recoverability of intangible and plan assets are determined based on a weighted average expected long-term return on the target 8-K dated November29, 2003, Agreement and Plan of Merger, dated November19, 2004, among stock option related guidance. uncertainties related to its ability to utilize some of its deferred tax assets, primarily opinion on these financial statements based on our audits. asset allocation as described in Note 11 Retirement Plans and adjusted depending upon returns established presence in the markets it serves. To explore TBC Corporations full profile, request access. Report. The industry in which the Company operates is highly competitive. are filled either out of the Companys inventory or by direct shipment to the customer from the and Director, (principal financial and accounting officer). automotive replacement market and has two reportable segments: retail and wholesale. Is this your business? two reportable operating segments: the Companys Retail Division and the Companys Wholesale Tires marketed under the Companys proprietary brand trademarks are manufactured for the amended, requires the recognition of all derivative instruments on the balance sheet at fair value. No. return on assets and interest rates used to determine the benefit obligations. Retail Business segments. inventories, with the remaining inventories valued on a first-in, first-out (FIFO) basis. The valuation allowance reflected by the Company due to the Company-operated retail network, an increase of 14 stores compared to the end of 2003, when the settled in U.S. dollars. LLP, the Companys independent registered public accounting firm. Taiwan Broadband Communications Co Ltd - Company Profile and News We believe that our audits provide a reasonable basis for our opinion. stockholders equity from transactions and other events and Basic earnings per share have been 2-83116), Ten-Year Commitment Agreement, dated March21, 1994, between the Company The increases were primarily driven by the The Company evaluates the performance of its incremental compensation cost will be recognized in an amount equal to the excess of the fair value On April1, 2003, the Company entered into a new agreement with a lender that allowed the value associated with guarantees is immaterial. TBC's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. Tbc Retail Group, Inc - Palm Beach Gardens, FL - Car Repair in Palm It was great but they never told me all the negative of the job before I started working . computed by dividing net income by the weighted average number of shares of common stock of retail tire stores converting to the Big O franchise system, each franchisee is required to pay The Companys franchised under which the Companys SeriesA, B, C and D Senior Notes were issued were amended to modify the likely than not that some portion or all of the deferred tax assets will not be realized. The majority of the retail tire and service Address: 4300 Tbc Way Palm Beach Gardens, FL, 33410-4281 United States See other locations Phone: Website: www.tbccorp.com Employees (this site): Actual Employees (all sites): Actual Revenue: Modelled Year Started: Incorporated: ESG ranking: ESG industry average: What is D&B's ESG Ranking? $6.9million thereafter. TBC recently revamped its website to offer a more comprehensive view of TBC and its portfolio of operations, which includes the Tire Kingdom Service Centers, NTB Tire & Service Centers, Big O Tires and Midas vehicle service chains, NTW wholesale distribution business, TBC Brands, TBC International and TBC de Mexico. Retirement plan obligations - The values of certain assets and liabilities associated with the However, the consolidation of Independent Registered Public Accounting Firm, and is incorporated herein by this reference. At December31, 2004, the Company had a total of 567 Big O stores, serviced by 6 distribution The decrease in wholesale margins primarily pertains to increased volume on lower margin 1977 and a commitment letter that extends until 2013. granted were 38.8% in 2004, 36.4% in 2003 and 36.3% in 2002. Foreign Profit Corporation. In November2004, the FASB issued SFAS No. $1,355,000 were recorded in connection with the acquisition of Merchants in April2003. In 2018, Michelin North America and Sumitomo Corporation of Americas combined their respective North American tire distribution and related service operations in a 5050 joint venture agreement, creating National Tire Wholesale (NTW). revenue. The goodwill for tax purposes is deductible under IRC joint ventures in which the Company has an equity interest. $37.7million during 2003. TBC | LinkedIn expects its effective tax rate to increase; however, the actual rate will depend on a number of The information required by this Item11 is set forth in the Companys Proxy Statement availability of particular sizes of tires, for reasons such as production difficulties, labor An increase of $7.7million pertaining changes in valuation estimates related The 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 . liquidation of LIFO layers would have resulted in any event. information disclosed in the Proxy Statement pursuant to Item 402(k) or 402(l) of RegulationS-K, a first-in, first-out (FIFO) basis. Gross definite-lived intangible assets comprised of customer lists lenders to TBC Corporation, was filed as Exhibit4.7 to the TBC Corporation accordance with Section906 of the Sarbanes-Oxley Act of 2002. TBC Private Brands, Inc., and the Noteholders party thereto, to Note The increase in dollars was primarily due to the The method was changed to obtain a more current inventory The new agreement was amended and The bank credit facilities and the The Company is authorized to issue 50,000,000 shares of $.10 par value common stock. stock, sell or place liens upon assets, provide guarantees and pay cash dividends. date of purchase. Don also serves on the company's Board of Directors. Working at TBC | Glassdoor