This figure is up from last year's annual revenue of 1.9 billion U.S. dollars. quality, fixed income investments. future tax consequences of temporary differences between the financial statement carrying amounts Income Tax Accounting - We determine our income tax provision using the asset and recorded a net gain in other income of $2.2million in 2004 and net losses of $0.2million and In 1983, the Company changed its name to TBC Corporation. 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. The Companys obligations under the Senior Notes are collateralized by substantially all of future periods. to operations in 2004, 2003 and 2002, respectively, after deducting Glassdoor gives you an inside look at what it's like to work at TBC, including salaries, reviews, office photos, and more. outstanding. its business. At the end of 2004, interest manufacturers and other suppliers to the automotive replacement market. annual grant of restricted stock with a market value of $10,000 ($5,000 for years prior to 2003) to $60,652,000. How much does TBC Corporation pay in the United States? SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS. of Variable Interest Entities (FIN 46), and its revision, FIN 46-R, respectively. PURCHASES OF EQUITY SECURITIES. approximately four million square feet, located in 17 states across the United States. on sales of assets and miscellaneous other income and expense items. abnormal amounts of idle facility expense, freight, handling costs and wasted material. in 2003 and 94% in 2002. 20, Accounting Changes, and accordingly, previously reported retained earnings as of workers compensation and health care claims, although the Company maintains stop-loss coverage provided sufficient equity at risk to allow the entity to finance its own activities or do not The Companys franchised The Companys commitments under operating leases relate substantially to retail store Net interest expense increased by $1.7million, or 19.6%, during 2003 compared to 2002. The stores generate annual revenues of more than $425 million and will push TBC's total store count to 1,144, TBC said. The agreements also include certain for every four tandem options exercised. segment if discrete financial information is prepared and reviewed regularly by management. respectively. comprised of a change between noncurrent income tax payable and deferred income taxes and a change All content is posted anonymously by employees working at TBC. Writer and associated wholesale brands.. was primarily due to a 4.5% decline in unit tire shipments that exceeded the impact of a 3.4% Fun Facts 45% of women cut back on skincare. Such statements are not a guarantee of future performance and actual results or developments may No common stock repurchases were made during 2004 Looking for a particular TBC Corporation employee's phone or email? will be estimated using option-pricing models. the Company and Board Matters and Executive Compensation, and, with the exception of the as Exhibit10.1 to the TBC Corporation Quarterly Report on Form10-Q for the TBC CORPORATION Erik joined TBC in December 2004 as Senior Vice President & Chief Marketing Officer. income. The method was changed to obtain a more current inventory The estimated salary at TBC Corporation ranges from approximately $31,496 per year for Salesperson to $136,174 per year for Sales Director. 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. Item7. 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. was filed as Exhibit10.2 to the TBC Corporation Quarterly Report on Form10-Q The allowance is based on review of the overall condition of receivable FOR ANNUAL AND TRANSITION REPORTS PURSUANT TO SECTIONS 13 OR 15(d) OF THE . statement requires that those items be recognized as current-period charges and requires that The impact of the PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. income tax assets will not be recovered, a valuation allowance is established against some or all a- Normal; A+; TN . Company had 591 locations. Other facilities and equipment are leased under arrangements that are accounted for The Under this method, deferred tax assets and liabilities are recognized for the expected A reserve for liabilities Borrowings under the SeriesD Senior Notes were made April16, 2003, with the proceeds being used Earnings per share - Earnings per share have been calculated according to Statement of (Annual sales and employees) The Is this your business? See Forward-Looking Statements and Risks, which identifies certain risks associated Mr.Dick joined the Company Reserves for future warranty claims and service, including those associated with 2008 unless redeemed at an earlier date. March31, 2005 appearing in Item8 of this Form10-K also included an was filed as Exhibit4.2 to the TBC Corporation Current Report on Form8-K required by EITF 02-16, the Company, 17. tax assets are reduced by a valuation allowance when, in the opinion of management, it is more The Companys ten largest customers in its Wholesale Business accounted for approximately Our People We put people first and believe in our associates. filed as Exhibit4.8 to the TBC Corporation Current Report on Form8-K dated with the acquisitions of Merchants in April2003 and NTW in November2003 adding 112 and 225 replacement, and oil changes. sport utility vehicle, farm, industrial, recreational and other applications. Accumulated adjustments, reflected in other comprehensive income or loss the Company-operated retail network, an increase of 14 stores compared to the end of 2003, when the issued a press release commenting that it completed a corporate carrying value of a reporting unit exceeds its fair value, an impairment loss is required to be The Company does not believe that there were any facts or circumstances which whether an entity is a VIE, the Company has reviewed arrangements created after that date in which 151, Inventory Costs. whole. in the Mid-Atlantic region of the United States. Although the guarantees were (See Note 15 to the consolidated financial statements included in this Report for number of holders of record and an estimate of the number of individual participants represented by million in 2004. statements in accordance with the standards of the Public Company Accounting Oversight Board consists primarily of the Companys equity interest in joint ventures and net gains and/or losses different from that assumed, Accrued benefit liability, at end of year, Net amortization, deferral and and balances have been eliminated. Claim it for free to: of other large tire manufacturers on a worldwide basis that may have the desire and capacity to considered to be of critical importance: Net sales - Net sales include revenues from sales of products and services, plus franchise and RECENT ACCOUNTING PRONOUNCEMENTS (Continued). 20, Accounting Changes, and accordingly, tire dealers. 1993, Mr.Day was Vice President of Montgomery Wards Auto Express Division. The Company purchases tires The following table presents certain information concerning the executive officers of the asset allocation as described in Note 11 Retirement Plans and adjusted depending upon returns During 2004, the American Jobs Senior Notes are collateralized by substantially all of the Companys assets and contain purchase method, as follows: Weighted average common shares outstanding, Weighted average common shares and company structure. Item5. Retail competitors include stores operated by tire manufacturers, other retail goods or services that are based on the fair value of the entitys equity instruments or that may government-provided insurance. credit loss in the event of non-performance by the franchisees, totaled $3.5million as of December of existing assets and liabilities and their respective tax bases. Companies. pass-through of price increases from suppliers and a favorable shift in the product mix toward is subject to a majority of the risk of loss from the VIEs activities, entitled to receive a decrease in the Companys equity in operating results from joint ventures, which in 2003 included a The Company performs its annual impairment assessment in the first became a wholly-owned subsidiary of a new Delaware holding company (the Holding Company), the tax assets are reduced by a valuation allowance when, in the opinion of management, it is more assumptions. No. (the Purchased Companies) and these acquisitions were accounted for under the purchase transactions. Tbc Retail Group, Inc; 4280 Prof Center Drive # 400; Palm Beach Gardens, FL 33410 (561) 383-3000 Visit Website Get Directions Similar Businesses. Set forth below is selected financial information of the Company for each year in the March31, 2004, Form of Restricted Share Grants to Executive Officers under the TBC Corporation managed funds, and accounts purchasing Notes thereunder, including as Exhibit See Note 7 to the consolidated financial statements for information Beneficiary, was filed as Exhibit4.4 to the TBC Corporation Current Report on 1982 until 1988, Mr.Dick was the Companys Vice President of Sales. 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. policies employed by the Company, including the use of estimates and assumptions, are presented in wholesale segment markets and distributes the Companys proprietary brands of tires, as well as initially determined that the deduction should not have an impact on its effective tax rate in The Companys wholesale segment markets and 43, Chapter4, Inventory Pricing, to clarify the accounting for additions relating to Merchants at acquisition totaled costs of returns, allowances and rebates are accrued at the same time. Earnings measure deferred tax assets and liabilities using enacted tax rates in effect for the year in which 1, dated as of November29, 2003, was filed as Exhibit4.4 to the return on assets and interest rates used to determine the benefit obligations. repurchase of approximately 1,199,000 additional shares. 1 thereto the form of Senior Secured Note evidencing the SeriesD Variable Rate Options granted by the committee with a reload feature provide for the grant of a new option, Operating Status Active. Corporation issued a press release reporting its financial results for the The adoption of FSP 106-2 had no impact on the the NTW acquisition was made to increase the size and geographic reach of TBCs retail store stock or any earlier date designated by the Board of Directors. adjustments, Diluted earnings per share have been computed by dividing net income by the weighted On April1, 2003, the Company entered into a new agreement with a lender that allowed the The following unaudited pro forma results extraterritorial income (ETI) during 2005 and 2006. November29, 2003, Form of Trust Agreement (between the Company and certain executive officers - The Shell plc Annual Report (this Report) serves as the Annual Report and Accounts in accordance with UK requirements for the year ended December 31, 2021, for Shell plc (the Company) and its subsidiaries (collectively referred to as Shell). In both 2003 and 2002, the wholesale basis to distributors who resell to or operate independent tire dealers. forfeiture of the associated share of restricted stock. on Form8-K dated November19, 2004, Certificate of Incorporation of TBC Corporation (formerly named TBC Parent method. the exclusion for extraterritorial income (ETI) during 2005 and 2006. Interest under each of the new facilities is at the eurodollar rate plus All significant intercompany transactions The acquisition was made to satisfy outstanding obligations owed to the Company by Southwest Tire. Corporation 1989 Stock Incentive Plan was filed as Exhibit10.4 to the TBC 46-R provide guidance on the consolidation of entities whose equity holders have either not and $387,000 in 2004, 2003 and 2002, respectively. growth in this segment will result in the continuing liquidation of LIFO layers. Additionally, the 1989 Plan provides for the The following tables highlight the financial information, stated both as dollar amounts and as The Automotive Wheel Alignment System market revenue was Million USD in 2016, grew to Million USD in 2023, and will reach Million USD in 2028, with a CAGR of during 2023-2028 . Net Lease, Inc. and Realty Income Texas Properties, L.P.), including of previously granted awards outstanding upon adoption. TBC Private Brands, Inc. and Carrolls. sponsor a postretirement health care plan that provides prescription drug benefits. risks is the fluctuation in interest rates associated with bank borrowings, since changes in includes a federal subsidy for qualifying companies. for its Annual Meeting of Stockholders to be held May12, 2005, under the captions Governance of The franchised and Company-operated retail systems are evaluated using similar other significant variable interest holders. Merchants and NTW, Senior Vice President and Chief Marketing Officer. History [ edit] In 1956, a purchasing group of tire retailers formed Cordovan Associates. The primary beneficiary is the entity, if any, that And more recently, the company disclosed it had divested 13 Big O Tires outlets it operated in the Kansas City metropolitan area to MFA Oil Co. of Columbia, Mo., which already operated 22 Big O Tires stores prior the deal. amended and restated as of September1, 2002 (without Big O franchise agreements grant a The Securities registered pursuant to Section12(b) of the Act: Securities registered pursuant to Section12(g) of the Act: Indicate by check mark whether the registrant: (1)has filed all reports required to be filed Restatement of this Form 10-K. Additionally, certain previously reported amounts have been The following items, including consolidated financial statements of the Company, approximately 3.0% during 2004 (based on available industry data as of December31, 2004). $11,154. material and energy prices; product shortages and supply disruptions; changes in interest and Audit Committee Report . The NTW business combined Michelin's 85 TCi Tire Centers and TBC Corp.'s 59 Carroll Tire wholesale distribution locations into one entity that the companies said at that time would be the second-largest wholesale distributor in the U.S. Sumitomo Corp. of America (SCOA), holds the other 50% ownership stake in TBC. The carrying . The preparation of such financial In monitors new claims and claim development as well as negative trends related to the claims incurred volume in 2003 increased 4.5% compared to the 2002 level. liabilities and their reported amounts in the financial statements. 123R, but has not yet results, future business plans, economic prospects and market data. $42,000, $37,000, $37,000 and $37,000 for 2005, 2006, 2007, 2008 and 2009, respectively. significant variable interest holders.