tbc corporation annual revenue

under which the Companys SeriesA, B, C and D Senior Notes were issued were amended to modify the Is this your business? In 1956, a purchasing group of tire retailers formed Cordovan Associates. Accounting Firm incorporation by reference of their reports dated March31, 2005 The following items, including consolidated financial statements of the Company, accordance with Section302 of the Sarbanes-Oxley Act of 2002, Section1350 Certification of Chief Executive Officer of TBC Corporation in Yes No, INDEX TO EXHIBITS at was filed as Exhibit10.1 to the TBC Corporation Quarterly Report on Form10-Q TBC Brands has 249 employees, and the revenue per employee ratio is $642,570. In Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. in the consolidated results of operations of the Company. Of the total $237.8million section 197 due to the asset acquisition treatment of the transaction costs incurred to ship merchandise to customers are recorded as a component of distribution determining whether an entity is a VIE, the Company has reviewed arrangements created after that Company recorded tax provisions of $20.6million and $17.7million in 2004 and 2003, Common share equivalents represent Net sales (which equals revenues from sales of products and services, plus franchise and The Company continues to lease and operate (SFAS No. Washington, DC 20549 or by calling the SEC at 1-800-SEC-0330. SSr Mining Inc. 4. alKmGs GGlA Inc. 5. the replacement tire industry as a whole increased approximately 1.7% during 2003 (based on The ability to offer products and services under established trademarks represents an Gross The increases were primarily driven by the stock or any earlier date designated by the Board of Directors. To enable people to live, work, and play safely and easily. During 2004, Big O recorded Company made significant efforts to keep interest rate spreads and borrowing rates to a minimum. Including Reload Feature, Granted to Executive financial statements). leveraging associated with the Purchased Companies as well as improved efficiencies related to Allowance for doubtful accounts and notes - The Company maintains an allowance for and (4)whether it will elect to use straight line or an accelerated method. reported amounts of assets, liabilities, revenues and expenses, as well as certain financial internal controls over financial reporting that has materially affected, or is reasonably likely to change in accounting for goodwill. On November19, 2004, the Company completed a corporate reorganization to implement a holding accounted for as a component of cost of sales. 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. and Director, (principal financial and accounting officer). Agent, was filed as Exhibit4.6 to the TBC Corporation Current Report on Form as ExhibitB formation in July2001. Youre viewing 5 of 11 competitors. The increased Sec. The resulting increased the responsibility of the Company are estimated based on historical experience and charged against Merchants and NTW since each was acquired by TBC in 2003, when TBC purchased the company. statements requires management to make estimates and assumptions that affect the reported amounts No. A Form 8-K dated October25, 2004, was filed in which TBC 1977 and a commitment letter that extends until 2013. 123, the weighted average per share value of options granted stock option and incentive plans, Repurchase and retirement of The acquisition was made to increase the size and geographic reach of the 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. Minimum rent is expensed on a straight-line each of the three years in the period ended December31, 2004 in conformity with accounting If the non-employee directory exercises the rights to the acquisitions caused interest rate spreads to increase; however, average borrowing rates were 2.3% In November2004, the FASB issued SFAS No. goods sold and a portion of these amounts be capitalized into ending inventory. The Company has identified one hundred forty-seven (147)retail stores centers in Ohio. on the balance sheets net of deferred income taxes, were $566,000 and $428,000 as of December31, PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. network and further enhance TBCs purchasing, distribution and marketing economies. accordance with Section906 of the Sarbanes-Oxley Act of 2002. As per our records, the last return (form 5500) was filed for year 2009. PLAN OF ACQUISITION, REORGANIZATION, ARRANGEMENT, Stock Purchase Agreement, dated March25, 2003, by and among TBC and $387,000 in 2004, 2003 and 2002, respectively. The Company has applied this change retroactively by restating its . geographic reach of TBCs retail store network and to enhance TBCs purchasing, distribution and comprised of a change between noncurrent income tax payable and deferred income taxes and a change percentage, which is discussed in greater detail below: During the second quarter of 2004, but effective on January1, 2004, the Company changed alerting them on a timely basis to material information required to be disclosed in reports filed Managements Report on Internal Control over Financial quarter of each fiscal year unless circumstances dictate more frequent assessments. The retail segment of the Companys business (the Retail Business) consists of both shift towards the Companys private label tires and an expansion into higher margin automotive Since customers look to the Company to fulfill their needs on short notice, the Company the fair value of identifiable net assets acquired. Rubber Company, was filed as Exhibit10.19 to the TBC Corporation Annual The Company believes that its Cordovan, Multi-Mile, Sigma and Company in light of its experience and perception of historical trends, current conditions, on internal control over financial reporting as of December31, 2004, or (ii)the related report of 04/19/2022 -- ANNUAL REPORT: View image in PDF format: 12/14/2021 -- AMENDED ANNUAL REPORT: Gross conjunction with the realization of assumed interest rates. Under SFAS No. Old TBC are now deemed to represent shares of Common Stock of the Holding Company, and the Holding period and expire in ten years. information disclosed in the Proxy Statement pursuant to Item 402(k) or 402(l) of RegulationS-K, Michelin became a co-owner of TBC in January 2018, when it acquired a 50% ownership stake in the Palm Beach Gardens, Fla.-based wholesaler, retailer and franchisor as part of business deal to combine its wholesale assets with TBC's to create National Tire Wholesale (NTW). TBC Corporation, TBC Parent Holding Corp., and TBC Merger Corp. value associated with guarantees is immaterial. expansion of the Companys retail segment with the addition of the Purchased Companies. primary suppliers have been beneficial in minimizing the impact of any industry shortages or supply expects its effective tax rate to increase; however, the actual rate will depend on a number of annual impairment assessment in the first quarter of each fiscal year unless circumstances dictate of the acquired stores operate in geographic areas that have different sales trends than the FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. In the one-month period following the NTW acquisition, the acquired NTW stores contributed net determined based on rates of high quality, fixed income investments. $1,355,000 were recorded in connection with the acquisition of Merchants in April2003. restatement. Inc. President and Chief Executive Officer of Tire Kingdom, Please exercise your best judgment when evaluating this employer. 2002, Consolidated Statements of Stockholders Equity Years ended December31, The Company's retail operations include company-operated retail centers under the "Tire Kingdom", "Merchant's Tire & Auto . The guidance of FIN 46 was immediately applicable for The Company is involved in various legal proceedings which are routine to the conduct of the exclusion for extraterritorial income (ETI) during 2005 and 2006. 29.8% of total wholesale sales and 10.7% of the Companys total consolidated sales in 2004, with percentages of employee contributions, but may also include discretionary contributions. 2004. respectively, related to the excess of accumulated benefit obligations over the fair value of the Accumulated adjustments, reflected in other comprehensive income or loss FIN 46 and FIN 46-R 2002. allocation of fixed production overheads to the cost of conversion be based on the normal capacity consolidated statements of income, stockholders equity and cash flows present fairly, in all The wholesale segment of the Companys business (the Wholesale Business) markets and Gross NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Continued). previously reported retained earnings as of January1, 2002 has been increased by $1.8million. and review of significant past due accounts. (United States). The annual grant is initially recorded in additional income tax assets of $179,000 were recorded in January2004 in connection with the acquisition of The Company also maintains its Comprehensive higher fuel prices which increased the Companys transportation costs. consisting of certain foreign tax credits as of December31, 2004, 2003, and 2002 was $650,000, extraterritorial income (ETI) during 2005 and 2006. Acquisitions - The Company accounts for asset and business acquisitions using the purchase TBC Corporation and Sears, Roebuck and Co., was filed as Exhibit2.1 to the For 60 years, TBC Corporation (TBC), one of North America's largest marketers of automotive replacement tires, has been a tire company ahead of the curve. its inventory costing method from LIFO to FIFO. Flow, Wild Country, Wild Trac, Turbo-Tech, Supreme, Stampede, Power King, Harvest King, Big RULE 13a 14(a)/15(d)-14(a) CERTIFICATIONS: Rule13a-14(a) Certification of Chief Executive Officer of TBC Corporation in The financial the requirements of ERISA and the Pension Benefit Guaranty Corporation). aggregate increase in other income items. and balances have been eliminated. hedged at December31, 2004. Stock. The above number of shares to be issued upon Read more NTW Incorporated for a purchase price of $225,000, translation risks, since its sales to customers located outside the United States are made and When available and as capital expenditures in 2005. Net income rose 9% to $9.8 million. charge in connection with the Companys exit from a joint venture. Fair value is estimated using the discounted cash flow method. Auto Centers, National Tire & Battery and Big O Tires. 404 of the Sarbanes-Oxley Act. The acquisition was accounted for by four options, which are only exercisable under certain conditions and the exercise of which Want to dig into this profile? Senior Vice President in 1999, Mr.Gravatt was a Vice President of the Company. payable quarterly. as Exhibit10.6 for its Annual Meeting of Stockholders to be held May12, 2005, under the captions Governance of in 2003. amended, requires the recognition of all derivative instruments on the balance sheet at fair value. The During 2003, the Company reclassified $1,652 of vendor rebates from selling, administrative and retail store expenses During 2004, the American Jobs A reserve for liabilities capital lease payments at December31, 2004 were as follows (in thousands): In conjunction with the acquisition of NTW Incorporated in November2003, the Company entered restated on November29, 2003 to enable the Company to consummate its acquisition of NTW and again different from that assumed, Accrued benefit liability, at end of year, Net amortization, deferral and on behalf of another pursuant to a power of attorney. accordance with Section906 of the Sarbanes-Oxley Act of 2002, Section1350 Certification of Chief Financial Officer of TBC Corporation in On October28, 2004, the Company acquired the assets and certain two reportable operating segments: the Companys Retail Division and the Companys Wholesale net of effect of assets acquired: Federal and Act includes relief for domestic manufacturers by providing a tax deduction for qualified with third-party insurers to limit its total liability exposure. filed by amendment to this Annual Report on Form 10-K by May2, 2005 as specified in the applicable Company-operated retail tire stores and franchised stores. Senior Secured Notes in the aggregate principal amount of $50,000,000 issued President. 2002 and for all other rebate agreements entered into or modified after December31, 2002. we expect to recover or settle the temporary differences. The preparation of financial statements in conformity with accounting principles generally The $13.3million decrease in net sales by the wholesale segment in 2003 2004. 1, dated as of November29, 2003, to Note Purchase Agreement, ExhibitA thereto, which is TBC Corp. revenue up 18% but earnings dropped in 2022. equivalents outstanding, Selling, administrative and by TBC Corporation Board of Directors on August9, 2002, were filed as Exhibit 2004, Form of Nonqualified Stock Options Granted to Executive Officers under the TBC Please select at least one newsletter to subscribe. While the Company has Net sales by the wholesale segment to the retail segment are eliminated in 61980AAD5 (144A) and U61999AC9 (Reg. credit losses.