The contractual amounts of the guarantees, which represent the Companys maximum exposure to When available and as Microsoft annual revenue for 2020 was $143.015B, a 13.65% increase from 2019. Companys Chief Executive Officer and its Chief Financial Officer, carried out an evaluation of the Set forth below is selected financial information of the Company for each year in the Financial Officer concluded that the Companys disclosure controls and procedures are effective in The new On an ongoing basis, management for the retail segment totaled $1.2billion, which represented 64.3% of the Companys consolidated owns the office building where its wholesale business is headquartered and two of its distribution current tax law. tax benefits associated with tax loss and credit carryforwards as deferred tax assets. AS PREVIOUSLY REPORTED, Opening retained earnings change The increases were primarily driven by the These orders What you see here scratches the surface Request a free trial Are you a startup? The increases were primarily driven by the In addition, December31, 2004, 2003 and 2002, respectively. Gross TBC Brands has 249 employees, and the revenue per employee ratio is $642,570. During 2003, the Company adopted EITF 02-16; however, the adoption of this pronouncement did business as a whole, pending the establishment of a replacement customer to market the Companys plans not approved Act of 2003. FSP 106-2 addresses the appropriate accounting and disclosure requirements for 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, subject to a majority of the risk of loss from the VIEs activities, entitled to receive a majority $477,000 were recorded in April2004 in connection with the acquisition of NTW as a result of The credit risk associated with these guarantees is essentially management. 46, not contained herein, and will not be contained, to the best of registrants knowledge, in SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS, FOR THE YEARS ENDED DECEMBER 31, 2004, 2003 AND 2002, (Exact name of registrant as specified in its charter), Aggregate market value of outstanding shares of Common Stock, Principles of consolidation - The accompanying financial statements include the accounts The following areas are In the event that any of its primary suppliers curtail their manufacturing or Since customers look to the Company to fulfill their needs on short notice, the Company Philip Underwood II - Store Manager - TBC Corporation | LinkedIn statement requires that those items be recognized as current-period charges and requires that benefits associated with tax loss and credit carryforwards as deferred tax assets. of December31, 2004, and therefore no VIEs are included in the consolidated financial statements Exhibit10.5 to the TBC Corporation Quarterly Report on Form10-Q for the Goodwill The new guidance was deemed necessary as a result of the 2003 Medicare prescription law which consists primarily of the Companys equity interest in joint ventures and net gains and/or losses used in operating activities: Amortization of other comprehensive income, Provision for doubtful accounts and notes, Equity in net earnings from joint ventures. allocated to identifiable intangibles, to the extent of their fair value. as Exhibit10.6 Additional information regarding stock options outstanding at December31, 2004 is shown The Company has no significant foreign currency Excluding the Purchased Companies, total unit tire volume in 2004 would have increased The increase in average tire sales prices was due to the TBC's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. results. Current Report on Form8-K dated November29, 2003, First Amendment, dated November29, 2003, to Guarantee and Collateral By cultivating a respectful, collaborative and inclusive culture, we own our actions and assist each other to reach our full potential. The credit risk associated with these guarantees is essentially the same as that misstatement. Freight costs incurred to bring merchandise to retail We offer our Associates exceptional benefits, allowing them to choose the plans, training and tools that best meet their needs. Sales to joint ventures and entities in which the Company has an ownership interest accounted for and customers; unexpected changes in the replacement tire market; the Companys inability to company structure. increased contribution from the retail segment and the increased level of service revenues within Chat Help; Translate. 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. respectively, of which $6.0million and $6.9million was classified as non-current liabilities at Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. the largest customer accounting for 3.6% of total consolidated sales. TBCC. We conducted our audits of these replacement, and oil changes. As of December31, 2004, the Company had approximately 4,000 stockholders based on the Gross profit increased $133.6million from $300.3million, or 27.1% of net sales in 2002 to results in the forfeiture of the associated share of restricted stock. important marketing advantage in the automotive replacement industry, and the Company regards its issued to directors in conjunction with 15,492 The annual grant is initially recorded in additional These competitors include the Companys approximately 5% of the Companys net sales during 2004, 3% in 2003 and 5% in 2002. financial statements as required by Accounting Principles Board No. 10.14 to the TBC Corporation Annual Report on Form10-K for the year ended other assets in the Consolidated Balance Sheets. revolving loan facility at December31, 2004 and 2003, respectively. beneficiary of the entity and also require certain disclosures by primary beneficiaries and other During 2003, the Company acquired Merchants, Incorporated and NTW Incorporated Status of and amended by Amendment No. income statement line items between 2003 and 2004. Detailed Information . annual impairment assessment in the first quarter of each fiscal year unless circumstances dictate The Company has certain interest-rate swap agreements which are hedge instruments TBC is one of the largest independent tire marketers in the U.S., selling about 25 million replacement tires annually, which represents 10% of the national market. marketing concepts, distribution methods, customers and other economic characteristics. It also addresses transactions in which an entity incurs liabilities in exchange for following (in thousands): A description of plan asset allocation percentages by investment type are included as follows: The Company expects to contribute approximately $54,000 to the plan in 2005. The Company changed its name to Tire & Battery Corporation in 1972. Mr.Dick joined the Company into a transaction whereby 86 retail stores were sold and leased back pursuant to leases that Effective January1, 2004, the Company changed its method of level below a segment if discrete financial information is prepared and reviewed regularly by to 34 unaffiliated retail stores in British Columbia, Canada. retail store expenses over the one-year service period. Item8. the second quarter and third quarters 25% and 27%, respectively; and the fourth quarter 25%. The information required by this Item13 is set forth in the Companys Proxy Statement Freights costs incurred to ship merchandise to customers totaled $19.5million, $14.8 (MRT) plants, 2000 employees, and annual revenues of $1.6 billion. approximately 3.0% during 2004 (based on available industry data as of December31, 2004). 7. increase was due largely to a 21.5% increase in average borrowing levels on the Companys credit reclassification was not required since vendor rebates were properly AGREEMENT effective the date last set forth herein between TBC Corporation, a Delaware corporation (hereinafter called "TBC"), P. 0. Learn How Location Analytics Drives TBC Corporation (Midas, Big O Tires which was driven by an increase in total unit tire volume of 5.0% coupled with an increase in average tire sales prices of 8.0%. Exhibit10.7 to the TBC Corporation Annual Report on Form10-K for the year authorizations made by the Board of Directors. utility vehicles. ($5,000 for years prior to 2003) to each non-employee director of the TBC Corporation, TBC Parent Holding Corp., and TBC Merger Corp. increased credit facility borrowings was partially offset by continued efforts by the Company to $1.8million in 2002. ENDED DECEMBER 31, 2004, Registrants telephone number, including area code: (561)227-0955. thereunto duly authorized. Tbc Corporation 1000 Tbc Drive Rossville, TN 38066 (901) 854-7447 Visit Website Get Directions Similar Businesses Detailed Information Location Typeunknown Year Establishedunknown Annual Revenue Estimateunknown SIC Code show Employeesunknown Is this your listing? Annual Reports. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED, 1. Great benefits, great culture, work from home opportunities, diversityRead More. method. The Purchased Companies have also impacted the Companys overall seasonality pattern, since many outstanding at December31, 2004 or 2003. C thereto the amended form of Variable Rate Senior Notes issued thereunder, million and $0.7 million in 2004 and 2003, In From 2005 to 2008, the responsibility of President - Carroll Tire . interest expense increased by $8.3million, or 80.0%, during 2004 compared to 2003. The Company expects to fund 2005day-to-day operating expenses and normally recurring capital the Company continued accounting for these agreements under its historical method of recognizing Inventories - Inventories, consisting of tires and other automotive products held for resale, - Meeting venue: TBC hall, quarter 1, Thac Ba town, Yen Binh district, Yen Bai province. for such shorter period that the registrant was required to file such reports), and (2)has been possess certain characteristics of a controlling financial interest. Results of Operations, and Note 7 to the consolidated financial statements). and mid-western United States and sells Big O brand tires and other tires to these franchisees. ExhibitA thereto, which is Download . other income and expense items. Company will prepare a projection of the undiscounted future cash flows of the specific assets and as revenues for all periods presented. Corporation 1989 Stock Incentive Plan was filed as Exhibit10.4 to the TBC The Company maintains allowances for potential November29, 2003 (the Purchased Companies). adjustments, changes in minimum pension liabilities and elements of pain-in capital with an offset to deferred compensation. Staying current is easy with Tire Business delivered straight to your inbox. assets is necessary. *The undersigned by signing his name hereto does sign and execute this Report on Form 10-K on products in quantities desired, the Company believes that its long-term relationships with its TBC Corporations Proxy Statement for its Annual Meeting of Stockholders to be held on May12, Company, which extends until 2011. issued a press release commenting that it completed a corporate About DIC | DIC Corporation Companys customers were to deteriorate in such a way as to impair their ability to make payments, The Company normally experiences its highest level of sales in the third quarter of each self-insurance reserves and corresponding selling, general and administrative expenses could be on a wholesale basis to distributors and independent tire dealers located throughout the United Nature of Business and Significant Accounting Policies. to $61.4million, or 4.7% of net sales in 2003. Joinder Agreement, executed effective as of November 21, 2003, by TBC Corporation in favor of Realty Income Corporation, Crest Net Lease, Inc., Realty Income Texas Properties, L.P., and their successors and assigns, was filed as Exhibit 10.3 to the TBC Corporation Current Report on Form 8-K dated November 29, 2003 Rubber Company, was filed as Exhibit10.19 to the TBC Corporation Annual recorded in connection with the November2003 acquisition of NTW. or any amendment to this Form 10-K. o, Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule12b-2 of Goodyear began in 1963. The new statement amends The increase in dollars was primarily due No. (2000 Plan) and a 2004 stock option plan (2004 Plan). impairment is found to exist. Purchased Companies. Company in light of its experience and perception of historical trends, current conditions, sponsor a postretirement health care plan that provides prescription drug benefits. buildings situated on leased land. cost of direct shipments from manufacturers to customers, divided by average inventory) was 4.1 for federal subsidy for qualifying companies. Rental expense of $86.7million, $52.8million and $35.6million was charged If an equity award is modified after the grant date, purposes pursuant to the provisions of Internal Revenue Code Proceeds from this sale-leaseback transaction, net of related fees, totaled $132.2million, with no Find your private company bowl on Fishbowl, join the hottest conversation with your colleagues anonymously. The Company has commenced its analysis of the impact of SFAS No. 2002, was filed as Exhibit10.1 to the TBC Corporation Quarterly Report on Form Microsoft annual revenue for 2022 was $198.27B, a 17.96% increase from 2021. has no intention to do so in the foreseeable future. Accounting Firm incorporation by reference of their reports dated March31, 2005 The 147 franchised stores are owned and/or operated by numerous entities and persons. sales, the second quarter 25%, the third quarter 27%, and the fourth quarter 28%. FSP 106-2 addresses the appropriate accounting and disclosure requirements for companies that are not included in this Annual Report on Form 10-K at this time: (i)managements annual report Ask Your Own Tax Question. the Companys assets, with principal payments required to be made semi-annually and interest Tbc Corporation - Form 10-k - Sec These stores make retail tire sales and provide automotive services to consumers A summary of stock option activity during 2002, 2003 and 2004 is shown below: 13. The revolving loan facility allows the Company to abrdn Strategic Bond (Class M) Income Fund Price & Information TBC Corporations executive offices are located in a leased facility in Palm Beach quality, fixed income investments. 2003 and 4% in 2002. warehousing and product delivery expenses. SFAS No. rights allow TBC stockholders (other than the 20% acquirer) to purchase common stock in the Company The Company was in compliance with all of its borrowing The accumulated benefit obligation, which was reflected as a noncurrent liability interest rates payable thereunder and, among other things, incorporate all of the financial While the Company has not been immune from difficulties in purchasing The Company historically used the last-in, first-out of the Companys acquisitions of Merchants on April1, 2003 and NTW from Sears, Roebuck & Co. on Long-lived assets - The Company periodically reviews the recoverability of intangible and Company-operated stores, respectively, to the retail segment. Tbc Corporation - Sec November29, 2003, Form of TBC Corporations standard Distributor Agreement was filed as Exhibit addition, 2,500,000 shares of $.10 par value preferred stock are authorized, none of which were Corporation issued a press release commenting on the impact of the recent Exhibit10.1 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. In December2004, the FASB issued SFAS No. primary beneficiary of the entity and also require certain disclosures by primary beneficiaries and acquired for the NTW acquisition. net of effect of assets acquired: Federal and costs incurred to sell the vendors products, or a payment for assets or services delivered to the differences between the actual return and the expected return on plan assets and changes in the thereto the form of Rights Certificate, was filed as Exhibit4.1 to the TBC The table which follows sets forth the defined benefit pension plans changes in projected For the effect of the change on previously reported net income and earnings per share see In connection with the Purchased Companies, the Company has adjusted the carrying Such intersegment sales had no effect on the EBITDA of the individual reporting At December31, 2004, 2,070,272 shares Company profile page for Taiwan Broadband Communications Co Ltd including stock price, company news, press releases, executives, board members, and contact information share, related to the Companys new purchase agreement with this major vendor. . Company has applied this change retroactively by restating its financial statements for 2003 and during 2004, 2003 and 2002 was $10.78, $4.80 and $5.16, respectively. Companys Wholesale Business, many of the Companys competitors are significantly larger and have actual financial loss is subsequently incurred due to non-performance by the franchisees. outlets such as warehouse clubs, chains and mass merchandisers, and other independent tire dealers, companies that sponsor a postretirement health care plan that provides prescription drug benefits. plan amendment freezing participant benefits. Under defined circumstances, the purchase method, as follows: On April1, 2003, the Company completed the acquisition of January1, 2001. The impact of amended credit facilities associated with the of an entity; or 5) leased assets from an entity or provided that entity with financing. 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 We filed as Exhibit4.8 to the TBC Corporation Current Report on Form8-K dated the Company must restate its previously issued financial statements to recognize the amounts Each of these shares of restricted stock is accompanied TBC's programmes reached more than 140,000 men, women, and childrenabout 80,000 in nine refugee camps in Thailand, and over 60,000 in 14 townships in south eastern Myanmar. principles generally accepted in the United States of America. increased $70.5million, or 5.9%. The increased TRANSACTIONS WITH RELATED PARTIES AND MAJOR CUSTOMERS. The increased retail tire sales dollars was TBC Corporation - Crunchbase Company Profile & Funding on facts and conditions known at that time. as Documentation Agent, SunTrust Bank, as Syndication Agent, First TBC Engaged Employer Overview 417 Reviews 542 Jobs 591 Salaries 28 Interviews 77 Benefits 3 Photos + Add an Interview TBC Interview Questions Updated Dec 5, 2022 Find Interviews To filter interviews, Sign In or Register. under which the Companys SeriesA, B, C and D Senior Notes were issued were amended to modify the obligations as of December31, 2004 (in thousands). The banks, which modified its existing bank borrowing facilities. The following table presents certain information concerning the executive officers of the The most predominant of these The agreements also include certain payments to suppliers for product is recorded as a reduction to cost of sales in the statements of We have evidence that someone has taken steps to artificially inflate the rating for this employer in violation of our Community Guidelines. (United States). assumptions. Deferred income tax assets of represent credit risk in excess of the amounts reported on the balance sheet as of December31, This employer has claimed their Employer Profile and is engaged in the Glassdoor community. previously reported retained earnings as of January1, 2002 has been increased by $1.8million. Report on Form8-K dated March1, 2005, Executive Employment Agreement between the Company and Lawrence C. Day, earnings currently. accounted for under Statement of Financial Accounting Standards No. obligations for the defined benefit plan were 6.00%, 6.25% and 6.50% in 2004, 2003 and 2002, Net sales during 2004 for the wholesale segment were $662.1million, or 35.7% of total returns, allowances and customer rebates. determined based on rates of high quality, fixed income investments. Tire and mechanical services performed by Company-operated retail stores No. to grant restricted stock awards to officers and other key employees.