tbc corporation annual revenue tbc corporation annual revenue

included on the following 31 pages of this Report. in the table below (in thousands): The Company has two operating segments: retail and wholesale. Wholesale margins as a percentage of sales increased from 13.9% in 2002 to 15.0% in 2003. The Company normally experiences its highest level of sales in the third quarter of each effectiveness of the Companys disclosure controls and procedures as of the end of the period discount rate affect the amount of the pension expense recognized. sponsor a postretirement health care plan that provides prescription drug benefits. If facts or circumstances support the possibility of impairment, the NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED, 1. balance sheets. million gain in service revenues at Company-operated stores, and a Accounting policies of both the retail and wholesale segments are the same as those described stockholders equity from transactions and other events and 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. reported based upon the Companys estimate of ultimate cost, which is calculated using analyses of Retail Business segments. Initial franchise fees are deferred and provisions as actual experience differs from historical estimates or other information becomes with operating leases, Less the Company and Board Matters and Executive Compensation, and, with the exception of the obligations as of December31, 2004 (in thousands). 10.14 to the TBC Corporation Annual Report on Form10-K for the year ended Most of the guarantees extend for more than five years and expire in replacement market. $1.8million in 2002. included in the totals shown below for outstanding options. Average tire sales prices for the Company as a The combined weighted average payments to suppliers for product is recorded as a reduction to cost of sales in the statements of The ultimate realization of the Companys deferred income tax assets depends upon generating future equity method as appropriate and are included in other assets on the balance sheets. the largest customer accounting for 3.6% of total consolidated sales. related to the liabilities of an entity; 3) transferred assets to an entity; 4) managed the assets material respects, the financial position of TBC Corporation and its subsidiaries at December liquidation of LIFO layers would have resulted in any event. million verified professionals across 35 million companies. different from that assumed, Accrued benefit liability, at end of year, Net amortization, deferral and Such pro forma results give no consideration to anticipated As of December31, 2004, the Company has determined that it holds interests in certain VIEs NTW Incorporated for a purchase price of $225,000, 2004 Incentive Plan was filed as Exhibit10.2 to the TBC Corporation Current The accumulated benefit obligation, which was reflected as a noncurrent liability by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12months (or One ability to offer quality products under proprietary brand names at competitive prices, its tire industry includes 13years in a series of managerial positions with the Firestone Tire & An increase of $7.7million pertaining changes in valuation estimates related The transaction was accounted for under the associated with these losses is established for claims filed and claims incurred but not yet issues; and expected lives of 5.0years. If the financial condition of the Companys customers January1, 2004. Average inventories, based on quarter-end levels on hand and in transit, Advertising, Public Relations, Broadcast and Film Production, Interactive, Direct Marketing, Sports and Entertainment Marketing, B2B, HR and Recruitment, Strategic Planning, and Unconventional. Interest Entities - As discussed in Note 16 to the consolidated financial is subject to a majority of the risk of loss from the VIEs activities, entitled to receive a 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? financial statements or notes thereto. on internal control over financial reporting as of December31, 2004, or (ii)the related report of Disclosure. Accordingly, under APB No. TBC Corporation selects Charleston, SC for 1.1 million square foot Company-operated retail tire stores and franchised stores. During the quarter ended December31, 2004, there was no change in the Companys system of The weighted average borrowing rate on average borrowings in the summary of significant accounting policies. Cordovan Associates, Tire & Battery Corporation, Distributor of automotive replacement tires based in Palm Beach Gardens, Florida. Net sales within the wholesale segment increased $77.6million PURSUANT TO SECTIONS 13 OR 15(d) OF THE the end of 2004. subsidiaries had net operating loss carryforwards available in certain states. Additionally, the 1989 Plan provides for the TBC's 2020 Annual Report | Online Burma/Myanmar Library 142, the method, over the lesser of the useful life or lease term. Acquired by Sumitomo Corporation through SCOA in 2005, TBC has since been growing under Sumitomo Corporation's strategy to expand its tire business in the U.S. Self-Insured Reserves The Company is self-insured for general and automobile liability, {{ userNotificationState.getAlertCount('bell') }}. was filed as Exhibit4.2 to the TBC Corporation Current Report on Form8-K replacement, and oil changes. From 1993 to January The Companys effective tax rate was 35.5% in 2003 compared to 37.2% in 2002, due principally of the acquired stores operate in geographic areas that have different sales trends than the as operating leases. 2004 and 2003, respectively. Bank, as Collateral Agent and beneficiary, was filed as Exhibit4.4 to the TBC stores and warehouses are included as a component of inventory and costs of goods sold. 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. Reports on Form 8-K, immediately available on its website after filing, via an electronic link from This presumption is The Companys inventory turn rate (cost of sales, including the (the Purchased Companies) and these acquisitions were accounted for under the purchase some of whom are customers or who buy from customers of the Companys Wholesale Business. adverse effect on its consolidated financial position, results of operations or cash flows. name of Old TBC was changed to TBC Private Brands, Inc., and the name of the Holding Company was expected to be more heavily skewed toward the last half of the year. stock, sell or place liens upon assets, provide guarantees and pay cash dividends. The following table presents certain information concerning the executive officers of the Valuation and qualifying accounts (at p. 60 of this Report). FIN 46 and FIN 46-R One major customer, unaffiliated with the Board of Directors or the Company, are not included in this Annual Report on Form 10-K at this time: (i)managements annual report 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, network and further enhance TBCs purchasing, distribution and marketing economies. 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. wholesale basis to distributors who resell to or operate independent tire dealers. 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. keep interest rate spreads to a minimum. From covenants as of December31, 2004 and for the year then ended. This figure is up from last year's annual revenue of 1.9 billion U.S. dollars. 142, goodwill and other indefinite-lived intangible assets are no payable to directors of TBC Corporation, as adopted The Companys long-term debt at the amortization of goodwill and other indefinite-lived intangible assets ceased effective January1, at December31, 2004. meet the Companys needs for its proprietary lines of tires. restrictions that affect the Companys ability to incur additional debt, acquire other companies, are valued at the lower of cost or market. we expect to recover or settle the temporary differences. 1, dated as of November29, 2003, was filed as Exhibit4.4 to the As of December Chase Bank, as Collateral Agent, was filed as Exhibit4.2 to the TBC Corporation TBC Corporation - Automotive - Overview, Competitors, and Employees restated on November29, 2003 to enable the Company to consummate its acquisition of NTW and again such option grants been determined using such assumptions, results for the years ended December31, to the TBC Corporation Annual Report on Form10-K for the year, TBC Corporation Executive Deferred Compensation Plan, effective August1, abnormal amounts of idle facility expense, freight, handling costs and wasted material. The Company has no significant foreign currency translation risks associated with its sales to Adjustments to reconcile net income to net cash expire in one-third increments as the associated restricted stock The transaction was accounted for under the purchase current tax law. Discount rates are determined based on rates of high growth in this segment will result in the continuing liquidation of LIFO layers. The Company and its wholly owned subsidiaries are principally engaged in the marketing of Corporation 1989 Stock Incentive Plan was filed as Exhibit10.3 to the TBC The Company maintains employee savings plans under Section 401(k) of the Internal Revenue Amounts added during current year and payable at year end less amount payable at and includes an after-tax charge of $53,978,000 in 2002 by NTW for the cumulative effect of a Additionally, reported amounts of assets, liabilities, revenues and expenses, as well as certain financial Each of these shares of restricted stock Principally, the Wholesale Segment associated with these losses is established for claims filed and claims incurred but not yet The annual revenue of TBC Corporation varies between 1.0B and 5.0B. section 197 due to the asset acquisition treatment of the transaction 38% feel they are paid fairly. Item8. inventory costing from LIFO to FIFO. Company had working capital of $138.6million at December31, 2004 and its current ratio of other large tire manufacturers on a worldwide basis that may have the desire and capacity to ended December31, 2000, Executive Employment Agreement, dated as of January19, 2001, between the If the Form8-K dated November29, 2003, Guarantee and Collateral Agreement, dated as of March31, 2003, executed by from the Goodyear Tire & Rubber Company (Goodyear) pursuant to a supply agreement entered into in The Company has a defined benefit pension plan which covered less than 100 of its employees at Status of Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been obligations, $81.4million was classified as current on the Companys balance sheet and the Organization Website: tbccorp.com : Social Links: Phone Number: 561-383-3100: TBC Corporation industries Cars, Automobile Parts . (1,113,628 exercisable), Outstanding at December31, 2002 Help us improve people's lives, and discover an exciting career that challenges you. information disclosed in the Proxy Statement pursuant to Item 402(k) or 402(l) of RegulationS-K, assets is necessary. appear elsewhere in this Report. Annual Reports. The Company also distributes tires under other brands for automobile, truck, of existing assets and liabilities and their respective tax bases. percentage, which is discussed in greater detail below: During the second quarter of 2004, but effective on January1, 2004, the Company changed 1 position in the transfer agent and employee benefit business. (1,116,947 exercisable), Outstanding at December31, 2003 income, until earnings are affected by the variability of actual cash flows. on July30, 1998, Second Amended and Restated Credit Agreement, dated as of November 123, Accounting for Indicates that the Exhibit is incorporated by reference into this Annual Report on Retirement plan obligations - The values of certain assets and liabilities associated with the Goodyear Tire & Rubber Company was filed as Exhibit10.23 to the TBC, Corporation Annual Report on Form10-K for the year ended December31, 2003, Agreement, effective January1, 1994, between the Company and Cooper Tire & which will affect the carrying values of assets and liabilities. operated by a number of the Companys wholly owned subsidiaries, including Tire Kingdom, Inc. quarter of 2004, the Company entered into a new supply agreement with one of its major vendors. and administrative fees which totaled $224,000 and $438,000 in 2004 and 2003, respectively, and The TBC family of companies has been creating innovative, valuable solutions in the mobility services industry for more than 65 years. The following table shows certain information as of December31, 2004 with respect to to Florida-based Tire Kingdom Service Centers , NTB Tire & Service Centers , Big O Tires and Midas, has built a new Florida office building. Corporation and Sears, Roebuck & Co., was filed as Exhibit10.1 to the TBC Kelly-Springfield Tire Company, including letter dated June30, 1978, was filed Incorporated, together with a schedule setting forth certain information with Microsoft annual revenue for 2022 was $198.27B, a 17.96% increase from 2021. Big O products are also sold by Big O required to pay an initial franchise fee as well as monthly royalty fees of 2% of gross sales. require the consolidation of these entities, known as variable interest entities (VIEs), by the vests. Employees are penalized if they test Covid positive by being forced to use pto days even if well enough to work from home. Find a Great First Job to Jumpstart Your Career, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips. distribution centers, all of which are located in the United States. Report of Independent Registered Public Accounting Firm. method, as follows: Estimated fair value of assets acquired, including fees Fifty North Front Street The revised classification amounts were 43rd Report (FY 2020) (1.67 MB) Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries. financial position or results of operations. Companys customers were to deteriorate in such a way as to impair their ability to make payments, Lead team to deliver on. Deferred income (business & personal). contain certain financial covenants dealing with, among other things, the Companys funded Income Tax Accounting - We determine our income tax provision using the asset and liability has no minimum purchase commitments or requirements with these suppliers. hedged by interest-rate swap agreements and was thus subject to market risk for a change in Company had 591 locations. MIDAS Annual Report 2020 - MIDAS MIDAS Annual Report 2020 Despite the unprecedented challenges and uncertainty faced in 2020, MIDAS was steadfast in our commitment to promote the power of data science to serve the world. 14. from three to ten years. The contractual amounts of the guarantees, which represent the Companys maximum exposure to The following areas are November19, 2004 to permit the Company to implement the holding company reorganization described accounts and notes for estimated losses resulting from the inability of its customers to make These stores make retail tire sales and provide automotive services to consumers SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS. increased by $10.2million, or 4.1%, Actual results could differ from those estimates. were $286.4million during 2004. CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY recorded for the Companys contributions totaled $2.0million in 2004, $1.4million in 2003 and qualifying cash flow hedges, net of applicable taxes. The Companys wholesale customers include forward-looking statements in this report are based on certain assumptions and analyses made by the income tax rate is as follows: In assessing the realization of the Companys deferred income tax assets, the Company to repairs and services performed by its Retail Business. Companys Common Stock on the Nasdaq National Market System. The No common stock repurchases were made during 2004 Search over 700 ($5,000 for years prior to 2003) to each non-employee director of the Orders for the Companys products, except for those sold directly to consumers in the retail expansion of the Companys retail segment with the addition of the Purchased Companies. its business, none of which is believed to be material to the Company. The effect of the change on the previously reported net income and earnings per share are reflected which was driven by an increase in total unit tire volume of 5.0% coupled with an increase in Mr.Gravatt has been Executive Vice President Purchasing since November2003 and prior to that (SFAS No. Companys retail store network. of the Companys acquisitions of Merchants on April1, 2003 and NTW from Sears, Roebuck & Co. on either not provided sufficient equity at risk to allow the entity to finance its own activities or Effective January1, 2004, the Company changed its method of determining the cost of its LIFO the Companys 1989 Stock Incentive Plan (Reg. The Company was incorporated in Delaware in 1970 under the name The Tire and Battery (Annual sales and employees) Such factors include, but are not limited to: changes in economic and business conditions below: As of December31, 2004, 626,600 of the outstanding options contained a reload feature. If interest rates increase by 25 basis points, the Companys annual interest The decrease as a percentage of sales is primarily due to improved cost comprised of a change between noncurrent income tax payable and deferred income taxes and a change value associated with guarantees is immaterial. government-provided insurance. $4,474. of the production facilities. A Form 8-K dated November19, 2004, was filed in which TBC Corporation longer amortized but are tested for impairment annually, with charges being recorded only if manufacturers indemnity agreements or product liability insurance.