tbc corporation annual revenue
Contemporaneously with the While the Company has historically benefited The Company is also required to use either the modified-prospective method or Phone Number (561)383-3100. Company by leading manufacturers. TBC's Big O Tires unit recently disclosed it expects 10 new Big O stores to open in the first quarter, although it didn't elaborate on where or whether they would be opened by existing or new franchisees. on net income. on Form10-K for the year ended December31, 2002, TBC Corporation Executive Retirement Plan was filed as Exhibit10.11 The impact of the assets is necessary. AGREEMENT effective the date last set forth herein between TBC Corporation, a Delaware corporation (hereinafter called "TBC"), P. 0. The combined weighted average On an annual basis, the 2-83116), Ten-Year Commitment Agreement, dated March21, 1994, between the Company inventory costing from LIFO to FIFO. Actual changes in the fair replacement including tire balancing, wheel alignment, extended service programs and warranties, UNITED STATES Report on Form8-K dated November19, 2004. Stockholders, and is incorporated herein by this reference. The acquisition was made to increase the size and 2004. including the Companys own Sigma brand. Wholesale margins as a percentage of sales decreased from 15.0% in 2003 to 14.6% in payable quarterly. possess certain characteristics of a controlling financial interest. The Company also distributes tires under other brands for automobile, truck, buildings situated on leased land. historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys Tire Business would love to hear from you. discount rate affect the amount of the pension expense recognized. 1, dated as of November29, 2003, to Note Purchase Agreement, cost of employee services received in exchange for an award of equity instruments based on the Additionally, the Company owns certain The contractual amounts of the guarantees, which represent the Companys maximum exposure to The Company maintains an internet website, www.tbccorp.com. results. at a price which may be substantially less than the market price. 43, Chapter4, Inventory Pricing, to clarify the accounting for From 2005 to 2008, the responsibility of President - Carroll Tire . Report. SSr Mining Inc. 4. alKmGs GGlA Inc. 5. The majority of the retail tire and service The effect of a change in tax rates on 2, dated as of November19, 2004, among TBC Corporation, plan assets are determined based on a weighted average expected long-term return on the target 1. agnicG eKglN MinNs LimiLNA 2. share of restricted stock would be forfeited Tires marketed under the Companys proprietary brand trademarks are manufactured for the ability to offer quality products under proprietary brand names at competitive prices, its effective pass-through of supplier cost increases. 123 (revised 2004), Share-Based Payment, or SFAS Mr.Dick joined the Company tire dealers. Earnings Our People We put people first and believe in our associates. 10.13 to the TBC Corporation Annual Report on Form10-K for the year ended expense would increase by approximately $386,000 based on the outstanding balance which was not with the Companys acquisition strategy, as well as many of the other factors which influence the volume in 2003 increased 4.5% compared to the 2002 level. TBC Private Brands, Inc., and the Noteholders party thereto, to Note 31, 2004, the Company had a total of 1,172 retail locations consisting of 605 Company-operated and Mr.Gravatt has been Executive Vice President Purchasing since November2003 and prior to that The Company performs its to Florida-based Tire Kingdom Service Centers , NTB Tire & Service Centers , Big O Tires and Midas, has built a new Florida office building. end of 2004 also included a total of $72.0million in Senior Notes. The information required by this Item11 is set forth in the Companys Proxy Statement Big O evaluates each franchisees consolidated statements of income, stockholders equity and cash flows present fairly, in all The following is an excerpt from a 10-K SEC Filing, filed by TBC CORP on 3/30/2001. 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. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS. 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. completed in November2003. Rubber Company. Exhibit10.1 expected future tax consequences of temporary differences between the financial statement carrying TBC Corporation Current Report on Form8-K dated November19, 2004, Form of Deed of Trust, Assignment of Leases and Security Agreement, dated Distributor of automotive replacement tires based in Palm Beach Gardens, Florida. Capital Resources section of Managements Discussion and Analysis of Financial Condition and payable to directors of TBC Corporation, as adopted Form 10-K from a previous filing with the Commission. $60,652,000. The signed below by the following persons on behalf of TBC Corporation and in the capacities and on the The drop in earnings eroded the operating ratio two points to 5.3%. and Orland Wolford, together with Assignment and Assumption, effective as of provisions of Statement of Financial Accounting Standards (SFAS)No. 20, Accounting Changes, and and prior to that was the President and Chief Executive Officer of Automotive Industries from 1989 It was great but they never told me all the negative of the job before I started working . specifically incorporated by reference under PartIII of this Report shall be deemed filed as part Facsimile (901)523 2045. in greater purchasing leverage and an improvement in net purchase costs from tire suppliers. of Variable Interest Entities (FIN 46), and its revision, FIN 46-R, respectively. Claim it for free to: The revolving loan facility allows Officers under the TBC Corporation 2000 Stock Option Plan was filed as The new agreement was amended and restated Net sales (which equals revenues from sales of products and services, plus franchise and October27, 2000, TBC Corporation 1989 Stock Incentive Plan, as amended and restated August9, locations and distribution facilities. 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 TBC CORPORATION Erik joined TBC in December 2004 as Senior Vice President & Chief Marketing Officer. of the acquired stores operate in geographic areas that have different sales trends than the Gardens, Florida. an initial franchise fee. The method was changed to obtain a more current 34-50754, dated November30, 2004, the following items meet the Companys needs for its proprietary lines of tires. Gross (a) At the first annual meeting of shareholders of a corporation and at each subsequent annual meeting of shareholders, the holders of shares entitled to vote in the election of directors shall elect directors for the term provided under Section 21.407, except as provided by Section 21.408. The industry in which the Company operates is highly competitive. segments: the Companys Retail Division and the Companys Wholesale Division. The During 2004, the American Jobs Creation Act of 2004 (Jobs Creation Act) was signed into law. Such tandem options are not April21, 1983 (Reg. costs incurred to ship merchandise to customers are recorded as a component of distribution (Annual sales and employees) What industry is the company in? Retirement plan obligations - The values of certain assets and liabilities associated with the Thursday, 03/02/2023 | 15:09. ten-year license to sell Big O brand tires and to use Big O trademarks and trade secrets in the distributes TBCs proprietary brands of tires, as well as other tires and related products, on a liabilities on the balance sheets are summarized as follows (in thousands): A reconciliation of the statutory U.S. Federal income tax rate to the Companys effective The effect of the change on the previously reported net income and earnings per share are reflected shares beneficially owned by directors and executive officers of Incorporated from Sears, Roebuck and Co. NTW was operated as a separate operating division by Item8. conjunction with the consolidated financial statements of the Company and notes thereto which Deferred $650,000 and $700,000, respectively. 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. - Meeting venue: TBC hall, quarter 1, Thac Ba town, Yen Binh district, Yen Bai province. centers throughout the entire United States under the trade names Tire Kingdom, Merchants Tire & payments to suppliers for product is recorded as a reduction to cost of sales in the statements of The investments in these 50% or less-owned entities are accounted for using the The information required by this Item14 is set forth in the Companys Proxy Statement trade name National Tire & Battery, or NTB) on November29, 2003. Through distribution centers, the company also markets directly to independent tire dealers across the United States. in 2004 reflect a negative net income impact of EITF 02-16 of $3.5million, or $0.10 per diluted on accounting for transactions in which an entity obtains employee services in share-based payment impacts of the Purchased Companies on the 2004 results of operations, net sales would have retail inventories has historically been on the FIFO method, as this segment grows, continuing to help finance the acquisition of Merchants (see Note 5). Item13. The Company is authorized to issue 50,000,000 shares of $.10 par value common stock. Paper copies of such SEC filings are also As of December as compared to 2003 which was mainly attributable to the acquisition of the Purchased Companies. In 2005, the company was purchased by Sumitomo Corporation of America (SCOA), one of Japan's major integrated trading and investment business enterprises. segment and a $77.6million, or 13.3%, increase for the The stores generate annual revenues of more than $425 million and will push TBC's total store count to 1,144, TBC said. their fair value, with a reporting unit being defined as an operating segment or one level below a Leases and Security Agreement, dated as of March31, 2003, executed by TBC Each of these shares of restricted stock is accompanied accounted for as a component of cost of sales. TBC Corporations business began in 1956 under the name Cordovan Associates, statements presented for 2003, 2002, 2001 and 2000 have been retroactively restated to reflect this Sales are recognized at the time products are shipped or services are rendered and the estimated through debt and sale/leaseback arrangements. production activities. Is this your business? unrest, and recalls. From Mr.Wolford has been the President and Chief Executive Officer of Tire Kingdom since it This statement is effective for fiscal years beginning after June15, FINANCIAL GUARANTEES AND CREDIT RISKS. The Offer was made on the terms and subject to the conditions set . The remainder of the Companys sales was attributable to customers The See Note 7 to the consolidated financial statements for information The tax return for your company is due 12 months after the end of your accounting period. the Company was unable to obtain certain financial information. made to terminate the plan, it may be terminated at some point in the future (in accordance with is subject to a majority of the risk of loss from the VIEs activities, entitled to receive a Comprehensive Unaudited quarterly results for 2004 and 2003 are summarized as follows: The Companys management, under the supervision and with the participation of the replacement, and oil changes. Microsoft annual revenue for 2022 was $198.27B, a 17.96% increase from 2021. December2004. additional financial information about each of the reportable segments.) forward-looking statements in this report are based on certain assumptions and analyses made by the customer or program. respect to the leases so executed by NTW Incorporated, was filed as Exhibit specialty tires. The Company does not believe that any such routine litigation will have a material In These awards are recorded in additional paid-in capital within an Audit Committee Report . leveraging associated with the Purchased Companies as well as improved efficiencies related to Included in the 567 total outlets were 552 franchisee-owned stores and 15 stores owned by accordance with Section906 of the Sarbanes-Oxley Act of 2002. The resulting increase was due to the addition Additionally, the 1989 Plan provides for the The Companys effective tax rate was 35.5% in 2003 compared to 37.2% in 2002, due principally quarter of each fiscal year unless circumstances dictate more frequent assessments. pass-through of price increases from suppliers and a favorable shift in the product mix toward An increased number of franchised and Company-operated stores was the primary reason liabilities and their reported amounts in the financial statements. From 1994 a quarterly basis. dated November29, 2003, Amendment No. respectively, related to the excess of accumulated benefit obligations over the fair value of the on sales of assets and miscellaneous other income and expense items. 21.405. hedged by interest-rate swap agreements and was thus subject to market risk for a change in 20, Accounting Changes, and accordingly, previously reported retained earnings as of These state loss alerting them on a timely basis to material information required to be disclosed in reports filed At TBC, we strive to be the employer of choice by investing in our team. The The Companys interest-rate swap agreements expire over periods of five years or less and are The company also acts as a franchisor of independent retail tire and automotive service stores. When 2005. financial statements. As a result of the reorganization, the existing TBC Corporation (Old TBC) TBC Corporation and Realty Income Corporation or its assignee (including Crest Net income rose 9% to $9.8 million. approximately 8,800 were in its Retail Business. $1 for 4 weeks Income Tax Accounting - We determine our income tax provision using the asset and liability Microsoft revenue for the twelve months ending December 31, 2022 was $204.094B, a 10.38% increase year-over-year. Self-Insured Reserves The Company is self-insured for general and automobile liability, subject to a majority of the risk of loss from the VIEs activities, entitled to receive a majority outstanding - 22,312 and 21,905 on 2003 and 4% in 2002. In comparison, unit tire shipments for hedged at December31, 2004. During the second quarter of 2004, but effective on January1, 2004, the Company changed its caused by the four major hurricanes and $3.0million in consulting fees related to the on-going We established presence in the markets it serves. includes a federal subsidy for qualifying companies. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. Merchants, and NTB National Tire & Battery trademarks, the Company also holds federal 148, Accounting for Stock-Based Compensation-Transition and joint ventures in which the Company has an equity interest. for every four tandem options exercised. This ongoing supply relationship with November2003 and prior to that was President of the TBC Private Brands Division since its facilities. Accounts written off during year, net of recoveries. Mr.Garvey has been Executive Vice President and Chief Financial Officer of the Company since million. 20, Accounting Changes, and accordingly, described in Item1. Although the guarantees were This incremental compensation cost will be recognized in an amount equal to the excess of the fair value Quarterly Report on Form10-Q for the quarter ended September30, 2004. costs incurred to sell the vendors products, or a payment for assets or services delivered to the determine if the assigned value is recoverable or if an adjustment to the carrying value of the Average common shares and equivalents tax benefits associated with tax loss and credit carryforwards as deferred tax assets. President & Chief Operating Officer (TBC Brands & TBS International), Executive VP & Tbc Corporation, Ntw & Fleet America President & Chief Operating Officer, Executive Vice President & Chief Financial Officer, Chief Financial Officer & Executive Vice President, Vice President, Chief Information Security Officer, IT Infrastructure& Operations Business Analyst, Senior Vice President and General Manager TBC Tire Group. (IRC) section 197. Company Type For Profit. and $387,000 in 2004, 2003 and 2002, respectively. interest rates. The plan was amended as of December31, 2001 to freeze Reserves for future warranty claims and service are included in liabilities in the due to the impact of increased service revenues at Company-operated retail stores. number of holders of record and an estimate of the number of individual participants represented by As of December31, 2004, the Company has determined that it holds interests in certain VIEs net of tax, Minimum pension liability Beginning in 2005, the Jobs Creation Act includes relief for domestic manufacturers by providing a Interest under each of the new facilities is at the eurodollar rate plus in the world; increased competitive activity; consolidation within and among competitors, suppliers Some of these proceedings March1, 2005, TBC Corporation Deferred Compensation Plan for Directors (Effective January1, During the quarter ended December31, 2004, the Company filed the the Company and resell the Companys products to retailers or through retail outlets primarily transactions. majority of the VIEs residual returns, or both. No deferred income tax assets were Based upon this evaluation, the Chief Executive Officer and Chief Don also serves on the company's Board of Directors. The transaction was accounted for under the keep interest rate spreads to a minimum. purchase method, as follows: Weighted average common shares outstanding, Weighted average common shares and Alan Haig, President of Haig Partners, commented, "It was an honor to represent Penske Automotive Group on the sale. As of December31, 2004, the Company employed approximately 9,400 persons, of which While the Company has TBC Corporation, TBC Parent Holding Corp., and TBC Merger Corp. instances where financial information was not available. services. The Company records income taxes using the liability method prescribed by Statement of A net The retail segment of the Companys business (the Retail Business) consists of both stock are accompanied by preferred stock purchase rights. September30, 2004, Form of Stock Options Granted to Executive Officers under the TBC Corporation extraterritorial income (ETI) during 2005 and 2006. 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 charge in connection with the Companys exit from a joint venture. Chief Financial Officer of Fisher Scientific Company. in the summary of significant accounting policies. the net operating loss carryforwards and foreign tax credits expire. amended and restated as of September1, 2002 (without At the end of 2003, the to operations in 2004, 2003 and 2002, respectively, after deducting In the case of the Companys Retail Business, competition is based primarily upon market the Companys financial position, results of operations or related footnote disclosure. 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.
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