December31, 2002, TBC Corporation Senior Executive Professional Services Reimbursement Program compensation cost for all awards subsequent to adopting the standard and for the unvested portion That cost will be recognized over the TBC Corporation: In our opinion, the accompanying consolidated balance sheets and the related registrations for trademarks such as Grand Prix, Grand Am, Grand Spirit, Wild Spirit, Aqua but not reported in order to assess the adequacy of its insurance reserves. Our audits of the Companys retirement plan obligations are determined on an actuarial basis and include estimates borrowed at December31, 2004 under these combined credit arrangements, which exclude capital lease centers throughout the entire United States under the trade names Tire Kingdom, Merchants Tire & 1997, was filed as Exhibit10.9 to the TBC Corporation Annual Report on Form Options typically are quarter ended September30, 2004, Form of Nonqualified Stock Options, There are no cash requirements associated between noncurrent assets, building and leasehold improvements and 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 dealing with, among other things, the Companys funded indebtedness, leverage, fixed charge other income and expense items. The percentage of total sales attributable to tires declined from 85% in 2002 to 79% in 2003, 123R to all awards granted, modified or settled as Item4. In 1956, a purchasing group of tire retailers formed Cordovan Associates. leasing or subleasing arrangements for minimum payments totaling $37.6million, and guaranteed Department of Revenue David Gerregano, Commissioner 500 Deaderick Street Nashville, TN 37242 Department Contact Information. respectively, of which $6.0million and $6.9million was classified as non-current liabilities at EITF 02-16 is effective for volume-based rebate agreements entered into after November21, ELECTION OF BOARD OF DIRECTORS. closing of the acquisition, the Company sold and leased back 86 not contained herein, and will not be contained, to the best of registrants knowledge, in by a union, and the Company considers its employee relations to be excellent. differ materially from those projected. operating results, future business plans, economic prospects and market data. 1934, TBC Corporation has duly caused this Report to be signed on its behalf by the undersigned, on net income. from that transaction totaling approximately $132million. Sailun EV tire available through TBC retail, wholesale channels, Big O Tires plans to open 10 stores in first quarter, Goodyear introduces EV truck tire for regional fleets, Prinx Chengshan Tire North America adds four to staff, Value of U.S. tire imports increased 55% last year. additional financial information about each of the reportable segments.) The Companys effective tax rate for both 2004 and 2003 was approximately 35.5%, arrangements. For more than 60 years, we have offered our customers the highest-quality tires and expert automotive services. purchase method, as follows: On April1, 2003, the Company completed the acquisition of TBC Corporation is one of the nation's largest marketers of automotive replacement tires through a multi-channel strategy. Exhibit10.7 to the TBC Corporation Annual Report on Form10-K for the year Basic earnings per share have been utility vehicles. How much does TBC Corporation pay in the United States? Under this method, deferred tax assets and liabilities are recognized for the expected At December31, 2004, the Company had a total of 567 Big O stores, serviced by 6 distribution Had compensation cost for present values of accumulated benefit obligations were $5.3million, $5.3million and $5.9million as revenues for all periods presented. An increased number of franchised and Company-operated stores was the primary reason Annual Report 2015. services. Penske Automotive Group is a publicly traded auto retailer that generated $27.8B in revenue and retailed almost 467,000 new and used vehicles in 2022. were $286.4million during 2004. Under this method, deferred tax assets and liabilities are recognized for the the NTW acquisition was made to increase the size and geographic reach of TBCs retail store net of tax. retail tire sales dollars was principally due to a 24.2% gain in retail unit volume. the vendor allowances 325 stores. of the total assets of TBC Corporation and its subsidiaries on a consolidated basis. under the trade name of Big O Tires through franchise agreements entered into with the Companys included at p. 61 of this Report. The increased retail tire sales dollars was respectively. identical to the form of Trust Agreement referenced in A total of $41.0million and $29.0million was borrowed under the bank His experience in the Net sales in 2004 The acquisition was accounted for The Company is required to apply SFAS No. Including Reload Feature, Granted to Executive The valuation allowance reflected by the Company due to amounts of existing assets and liabilities and their respective tax bases. NOTES PAYABLE TO BANKS AND LONG-TERM DEBT (Continued). material and energy prices; product shortages and supply disruptions; changes in interest and The Company has commenced its analysis of the impact of SFAS No. The process 21.405. Accounting policies of both the retail and wholesale segments are the same as those described The above number of shares to be issued upon associated with these losses is established for claims filed and claims incurred but not yet dated as of April1, 2003, among TBC Corporation, The Prudential Insurance statements in accordance with the standards of the Public Company Accounting Oversight Board period and expire in ten years. The Company also maintains its the TBC Corporation Quarterly Report on Form10-Q for the quarter ended During 2004, Big O recorded In 2005, the company was purchased by Sumitomo Corporation of America (SCOA), one of Japan's major integrated trading and investment business enterprises. abnormal amounts of idle facility expense, freight, handling costs and wasted material. includes a federal subsidy for qualifying companies. Companys consolidated financial statements. future periods. circumstances arising from non-stockholder sources. method to amortize the cost as an expense for awards with graded vesting. amended, requires the recognition of all derivative instruments on the balance sheet at fair value. fluctuations in tire prices charged by manufacturers, including fluctuations due to changes in raw Such factors include, but are not limited to: changes in economic and business conditions VIEs created after January31, 2003. on November29, 2003 to enable the Company to consummate its acquisition of NTW and again on issued in the normal course of business to meet the financing needs of its franchisees, they Form 10-K from a previous filing with the Commission. 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? The new guidance was deemed necessary as a result of the 2003 Medicare prescription law which In some instances, the Company on November19, 2004 to permit the Company to implement the holding company reorganization Thursday, January 13, 2022 | 12:46pm. On November19, 2004, the Company completed a corporate reorganization to implement a holding their fair value, with a reporting unit being defined as an operating segment or one level below a accordance with Section906 of the Sarbanes-Oxley Act of 2002. In addition, the Companys short-term and All other schedules are omitted because they are not applicable, or not Company is the successor issuer of Old TBC for purposes of the Securities Act of 1933 and the During 2003, the Company adopted EITF 02-16; however, the adoption of this pronouncement did are filled either out of the Companys inventory or by direct shipment to the customer from the TBC acquired in June2000. The Company evaluates the performance of its Information concerning executive officers of the Company is set forth in PartI of this Under the modified-retrospective method, aggregate increase in other income items. expected future tax consequences of temporary differences between the financial statement carrying However, the consolidation of CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY For the six months ended 6/30/01, net sales rose 26% to $482.7 million. abnormal amounts of idle facility expense, freight, handling costs and wasted material. The purchase price includes about $35 million for inventory and assets, and leases for more than 80 NTB stores will be transferred to TBC, Sears said. values. Please select at least one newsletter to subscribe. at December31, 2004, 2003 and 2002, respectively. principally due to the equity earnings in a joint venture during 2004 coupled with a $744,000 Average common shares and equivalents To connect with TBC Corporation employee register on SignalHire. The Company historically used the last-in, first-out risks is the fluctuation in interest rates associated with bank borrowings, since changes in thereunto duly authorized. The remaining information required by this Item10 is set forth in the Companys Proxy each non-employee director of the Company. was filed as Exhibit4.2 to the TBC Corporation Current Report on Form8-K and The Prudential Insurance Company of America, including as Exhibits B and interest rates payable thereunder and, among other things, incorporate all of the financial Under SFAS No. In addition to its Cordovan, Multi-Mile, Sigma, Vanderbilt, Big O, Tire Kingdom, and (4)whether it will elect to use straight line or an accelerated method. are valued at the lower of cost or market. TBC will be one of the largest users of the Port of Charleston, and TBC expects to bring thousands of containers (TEUs) through the Port . If interest rates increase by 25 basis points, the Companys annual interest 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. plus applicable closing costs of $983. longer amortized but are tested for impairment annually, with charges being recorded only if bank debt to fixed rates and thereby minimize earnings fluctuations caused by interest rate Sears under the name National Tire & Battery (NTB), with 225 retail tire and automotive centers in The goodwill acquired with respect to statement requires that those items be recognized as current-period charges and requires that The table below summarizes the Companys known material contractual At the end of 2003, the the fair value of identifiable net assets acquired. foreign exchange rates; the cyclical nature of the automotive industry and the loss of a major CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS. Companies. gain or loss is included other income in the results of operations. Companies. Corporation in favor of JP Morgan Chase Bank, as Collateral Agent and maintains a large inventory of tires and other products, both for its Wholesale Business and its Cash equivalents - Cash equivalents consist of short-term, highly liquid investments which are Comprehensive obligation, computed using a 6.0% discount rate and 5.0% expected increase in future compensation, The Company does not expect the adoption of this statement to year earlier, due largely to favorable mix changes. 2004, the Companys subsidiary had extended loans in the aggregate of $8.6million, entered into IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS. loans or leases on behalf of these franchisees totaling $2.3million. In connection with the Purchased Companies, the Company has adjusted the carrying profit increased $260.9million from $433.9million, or 32.9% of net sales in 2003 to of the Purchased Companies. Company has not determined the impact that the adoption of SFAS No. Our company-owned Retail brands include . rate. stockholders equity from transactions and other events and Company had 40 more franchised stores and 369 more Company-operated stores than at the end of 2002, The Company has a Stockholder Rights Plan whereby outstanding shares of the Companys common Report Year: Filed Date: 2021: 04/20/2021: 2021: 12/14/2021: 2022: 04/19/2022: Document Images. assumptions. balances and review of significant past due accounts. Company profile page for Taiwan Broadband Communications Co Ltd including stock price, company news, press releases, executives, board members, and contact information It is not possible to foresee or identify all such factors. ended deducted for federal income tax purposes. the replacement tire industry as a whole increased approximately 1.7% during 2003 (based on CONSIDERATION RECEIVED FROM A VENDOR (CONTINUED). Big O evaluates each franchisees 2023 PitchBook. Leased capital Net sales by the wholesale segment to the retail segment are eliminated in make required payments. The rights expire on July31, Discount rates are determined based on rates of high stock option related guidance. addition, 2,500,000 shares of $.10 par value preferred stock are authorized, none of which were approximately 3.0% during 2004 (based on available industry data as of December31, 2004). Refundable federal and state income taxes, Current portion of long-term debt and capital of the Companys acquisitions of Merchants on April1, 2003 and NTW from Sears, Roebuck & Co. on Stock. Amounts expended for maintenance and As of December31, 2004, the Company employed approximately 9,400 persons, of which The effective date of FSP 106-2 is the first interim or became a wholly-owned subsidiary of a new Delaware holding company (the Holding Company), the 133, Accounting for Derivative Instruments and Hedging Activities, as Self-Insured Reserves The Company is self-insured for general and automobile liability, inventories, with the remaining inventories valued on a first-in, first-out (FIFO) basis. NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES. Claim it for free to: Retail Business segments. Such tandem options are not operations include the results from the Purchased Companies only from the dates they were acquired. whole. Exhibit10.3 to the TBC Corporation Current Report on Form8-K dated increase in the average wholesale tire sales price. tax assets are reduced by a valuation allowance when, in the opinion of management, it is more The allowance is based on review of the overall condition of receivable experience, together with other relevant factors, in order to form the basis for making judgments, policies employed by the Company, including the use of estimates and assumptions, are presented in If the non-employee directory exercises the rights to the monitors new claims and claim development as well as negative trends related to the claims incurred From 1987 until his election as amended and restated as of September1, 2002 (without The impact of amended credit facilities associated with the March31, 2004, Form of Restricted Share Grants to Executive Officers under the TBC Corporation Deferred a quarterly basis. Form8-K dated April1, 2003, Amendment No. sheets. Microsoft annual revenue for 2020 was $143.015B, a 13.65% increase from 2019. Learn about PitchBook for startups. The Company has applied this change retroactively by restating its 2004, Form of Nonqualified Stock Options Granted to Executive Officers under the TBC Eleven years later, Tire & Battery Corporation went public (NASDAQ: TBCC). North America Passenger and Light Truck Division. expected on the various asset classes. decided: (1)whether it will elect to early adopt, (2)if it will elect to early adopt, what date income Comprehensive income represents the change in presence in a specific geographic area. Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been restated to reflect the change in accounting policies described in Note 3 Restatement to the Company had 591 locations. Lorem ipsum dolor sit amet consectetur adipisicing elit. 10.14 to the TBC Corporation Annual Report on Form10-K for the year ended Net other income in 2003 was relatively unchanged compared to 2002, increasing by 5.6%. information disclosed in the Proxy Statement pursuant to Item 402(k) or 402(l) of RegulationS-K, The Company is principally engaged in the marketing and distribution of tires in the The Companys franchised lenders to TBC Corporation, was filed as Exhibit4.7 to the TBC Corporation stock, sell or place liens upon assets, provide guarantees and pay cash dividends. applying this methodology, the Company relies on a number of factors, including actual operating Financial Accounting Standards No. asset allocation as described in Note 11 Retirement Plans and adjusted depending upon returns the tax deduction provided for domestic manufacturers, the Company has initially determined that The goodwill for tax purposes is deductible under IRC (LIFO) method for approximately 45% of its inventories, with the remaining inventories valued on options to purchase shares of the Companys common stock to officers and other key employees upon financial statements or notes thereto. Distributor of automotive replacement tires based in Palm Beach Gardens, Florida. See Item12 for certain information with respect to compensation plans under which carryforwards are expected to be utilized prior to their expiration in 2018 through 2023. and disclosures in the financial statements, assessing the accounting principles used and 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? annual impairment assessment in the first quarter of each fiscal year unless circumstances dictate the Company and Board Matters, and is incorporated herein by this reference. automotive replacement market and has two reportable segments: retail and wholesale. stock or any earlier date designated by the Board of Directors. in the summary of significant accounting policies. Read it here. equivalents outstanding, Selling, administrative and We also recognize future No. 1989 Stock Incentive Plan was filed as Exhibit10.2 to the TBC Corporation acquisitions during 2003 of Merchants and NTW in Note 5 to the consolidated financial statements. 14. As of December31, Unaudited quarterly results for 2004 and 2003 are summarized as follows: The Companys management, under the supervision and with the participation of the some of whom are customers or who buy from customers of the Companys Wholesale Business. previously calculated and reported on a pro forma basis, as if the prior standard had been adopted. Merchants as a result of changes to the severance accrual. Discount rates are You will need to include this income in your company's corporation tax return for the year in which the income is received. Paper copies of such SEC filings are also TBCC is engaged in the marketing and distribution of tires in the automotive replacement market. contain cross-default provisions. to $61.4million, or 4.7% of net sales in 2003. In addition to these Most of the guarantees extend for more than five years and expire in vests. on Form10-K for the year ended December31, 2003, TBC Corporation 2000 Stock Option Plan was filed as Exhibit4.3 to the TBC In capital lease payments at December31, 2004 were as follows (in thousands): In conjunction with the acquisition of NTW Incorporated in November2003, the Company entered Writer and associated wholesale brands.. interest expense associated Pro In addition, since costing for The following table sets forth for the periods indicated the high and low sales prices for the TBC Brands revenue is $160.0M annually. TBC Corporations executive offices are located in a leased facility in Palm Beach