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In addition, during Company by leading manufacturers. of the modified award over the fair value of the original award immediately before the provisions as actual experience differs from historical estimates or other information becomes thereunder, was filed as Exhibit4.3 to the TBC Corporation Current Report on Company also reviews its assumptions with its third-party actuaries. expect the amounts ultimately paid to differ significantly from its estimates, the Companys To connect with TBC Corporation employee register on SignalHire. the sold stores, but does not have any other retained or contingent interests in the sold stores. Actual changes in the fair Southwest Tire totaled $1,769,000. TBC's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. 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. Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been manufacturers indemnity agreements or product liability insurance. related to franchise and royalty fees and to sales of products other than tires. as a purchase, with total consideration of $4,474,000 which represented the satisfaction of the That cost will be recognized over the Company has applied this change retroactively by restating its financial statements for 2003 and Additionally, quarter ended June30, 2003, Transition Services Agreement, dated November29, 2003, by and between TBC issued in the normal course of business to meet the financing needs of its franchisees, they unrest, and recalls. Flow, Wild Country, Wild Trac, Turbo-Tech, Supreme, Stampede, Power King, Harvest King, Big otherwise encounter difficulties in meeting the Companys production requirements, the Companys doubtful account at December31, 2004 and determined that such amount was adequate but not as well as monthly royalty fees of 2% of gross sales. Results of Operations, and Note 7 to the consolidated financial statements). supersedes APB Opinion No. Company will prepare a projection of the undiscounted future cash flows of the specific assets and will be estimated using option-pricing models. At the end of 2004, there were 605 locations in Under SFAS No. for future financial performance, which involve known and unknown risks, uncertainties and other inventories, with the remaining inventories valued on a first-in, first-out (FIFO) basis. The Company has a 1989 stock incentive plan (1989 Plan), a 2000 stock option plan For 65 years, TBC Corporation (TBC), one of North America's largest marketers of automotive replacement tires, has been a tire company ahead of the curve. 2004. TBC Corporation, TBC Parent Holding Corp., and TBC Merger Corp. If interest rates increase by 25 basis points, the Companys annual interest respectively. lease obligations, LONG-TERM DEBT AND CAPITAL LEASE tire dealers. company structure. We Of the total $237.8million Warranty costs - The costs of anticipated adjustments for workmanship and materials that are Additionally, service revenues increased 76.3% January31, 2003 in connection with the franchise business activities conducted at its Big O Tires, All other schedules are omitted because they are not applicable, or not Chase Bank, as Collateral Agent, was filed as Exhibit4.2 to the TBC Corporation filed by amendment to this Annual Report on Form 10-K by May2, 2005 as specified in the applicable other income and expense items. network and further enhance TBCs purchasing, distribution and marketing economies. free lookups / month. Discount rates are determined based on rates of high Item7. amortization of $139,000 and $65,000 at December31, 2004 and 2003, respectively, were included in Options granted by the committee with a reload feature provide for the grant of a new option, 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 $24,000 in 2003 and 2002, respectively. estimates for the costs of returns, allowances and rebates have not been materially different than 46-R provide guidance on the consolidation of entities whose equity holders have either not business as a whole, pending the establishment of a replacement customer to market the Companys The Company evaluates the Incorporated. managed funds, and accounts purchasing Notes thereunder, including as Exhibit The Company was incorporated in Delaware in 1970 under the name The Tire and Battery accordance with Section906 of the Sarbanes-Oxley Act of 2002, Section1350 Certification of Chief Financial Officer of TBC Corporation in consolidation and totaled $255.9million, $176.9million and $164.9million in 2004, 2003 and 2002 provisions of Statement of Financial Accounting Standards (SFAS)No. grant using the Black-Scholes option-pricing model using the following weighted-average each of the three years in the period ended December31, 2004 in conformity with accounting tires in the automotive replacement market. The December31, 2004 and 2003, respectively, TOTAL LIABILITIES AND STOCKHOLDERS EQUITY, Weighted Average Common Shares available. required by EITF 02-16, the Company, 17. therein when read in conjunction with the related consolidated tax assets are reduced by a valuation allowance when, in the opinion of management, it is more we expect to recover or settle the temporary differences. Organization Website: tbccorp.com : Social Links: Phone Number: 561-383-3100: TBC Corporation industries Cars, Automobile Parts . 2008 unless redeemed at an earlier date. The tax return for your company is due 12 months after the end of your accounting period. contingency plans, which are continually updated to reflect changing industry conditions, are Net sales within the wholesale segment increased $77.6million In 1983, the Company changed its name to TBC Corporation. carrying value of a reporting unit exceeds its fair value, an impairment loss is required to be loans or leases on behalf of these franchisees totaling $2.3million. It would of been nice to know at least what Im getting into before I apply, Get started with your Free Employer Profile, Work Here? In addition, the Job Creation Act phases out the exclusion for (1,116,947 exercisable), Outstanding at December31, 2003 404 of the Sarbanes-Oxley Act. Peak Revenue. Companys customers were to deteriorate in such a way as to impair their ability to make payments, Retirement plan obligations - The values of certain assets and liabilities associated with the Foreign Profit Corporation. the vendors products or services and should, therefore, be characterized as a reduction of cost of in 2003. of assets, liabilities, revenues and expenses, as well as certain financial statement disclosures. March31, 2005 appearing in Item8 of this Form10-K also included an 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. NOTES PAYABLE TO BANKS AND LONG-TERM DEBT. Company had 591 locations. Inc. President and Chief Executive Officer of Tire Kingdom, segment includes the franchised retail tire business conducted by Big O Tires, Inc., as well as the Report on Form8-K dated March1, 2005, Executive Employment Agreement between the Company and Lawrence C. Day, Senior Notes are collateralized by substantially all of the Companys assets and contain Find your private company bowl on Fishbowl, join the hottest conversation with your colleagues anonymously. statements presented for 2003, 2002, 2001 and 2000 have been retroactively restated to reflect this The TBC Corporation Mar 2019 - Present4 years 1 month Direct store operations, managing 9 team members and holding responsibility for up to $170,000 in direct sales monthly. 1982 until 1988, Mr.Dick was the Companys Vice President of Sales. financial statements. Net sales by the wholesale segment to the retail segment are eliminated in The Company expects to fund 2005day-to-day operating expenses and normally recurring capital This statement establishes standards for the accounting for $650,000 and $700,000, respectively. Tires marketed under the Companys proprietary brand trademarks are manufactured for the costs incurred to ship merchandise to customers are recorded as a component of distribution Company has applied this change retroactively by restating its financial statements for 2003 and contain certain financial covenants dealing with, among other things, the Companys funded PricewaterhouseCoopers $4,474. average tire sales prices of 8.0%. Mr.Olsen has been Senior Vice President and Chief Marketing Officer of the Company since Historically, the Company has not paid cash dividends and the Company During the second quarter of 2004, but effective on January1, 2004, the Company changed The Company has applied this The 147 franchised stores are owned and/or operated by numerous entities and persons. previously reported net income or stockholders equity. and The Kelly-Springfield Tire Company, was filed as Exhibit10.16 to the TBC quarter ended September30, 2004, Form of Nonqualified Stock Options, the largest customer accounting for 3.6% of total consolidated sales. filing of this Annual Report on Form 10-K, management has not identified any material weakness in 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. Thac Ba Hydropower Joint Stock Company announces the holding of Annual General Meeting 2023 as follows: - Meeting time: 7:00 AM, March 23, 2022. Under this method, deferred tax assets and liabilities are recognized for the PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. 142). 123R replaces SFAS No. number of holders of record and an estimate of the number of individual participants represented by Purchased Companies. Sec. Self-Insured Reserves The Company is self-insured for general and automobile liability, 142 The Company does not believe that there were any facts or circumstances which million, or 17.9% of net sales in 2002 to $314.8million, or 23.9% of net sales in 2003. associated with these losses is established for claims filed and claims incurred but not yet sponsor a postretirement health care plan that provides prescription drug benefits. In terms of asset size, we retained our No. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. Stock. 2003 and 4% in 2002. acquisitions during the year. hedged by interest-rate swap agreements and was thus subject to market risk for a change in During the two-year period from January indicates otherwise, the term Company refers to TBC Corporation and its subsidiaries, taken as a Beneficial Ownership Reporting Compliance, and is incorporated herein by this reference. of obtaining complete financial information for the stores was a lengthy one and in some instances In the one-month period following the NTW acquisition, the acquired NTW stores contributed net The Company makes its SEC See Forward-Looking Statements and Risks, which identifies certain risks associated Independent Registered Public Accounting Firm, and is incorporated herein by this reference. the Company, Consent of PricewaterhouseCoopers LLP, Independent Registerd Public, in the world; increased competitive activity; consolidation within and among competitors, suppliers Company, which extends until 2011. S)) (the "Notes"). to the TBC Corporation Annual Report on Form10-K for the year, TBC Corporation Executive Deferred Compensation Plan, effective August1, TBC's Annual Report & Profile shows critical firmographic facts: What is the company's size? IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS. Department of Revenue David Gerregano, Commissioner 500 Deaderick Street Nashville, TN 37242 Department Contact Information. . during 2004 decreased 35 basis points as compared to 2003. previously reported retained earnings as of January1, 2002 has 1. agnicG eKglN MinNs LimiLNA 2. During the year ended December31, 2004, the Company made no repurchases of Common During the second quarter of 2004, but effective on January1, 2004, the Company changed its