2002 as required by Accounting Principles Board No. During 2003, the Company reclassified $1,652 of vendor rebates from selling, administrative and retail store expenses trend was slightly different from the historical pattern, due to the impact of the NTB acquisition S)) (the "Notes"). The Companys franchised non current liabilities as of differ materially from those projected. centers in Ohio. December31, 2002, TBC Corporation Senior Executive Professional Services Reimbursement Program and amended by Amendment No. tax assets are reduced by a valuation allowance when, in the opinion of management, it is more See Item12 for certain information with respect to compensation plans under which The new guidance was deemed necessary as a result of the 2003 Medicare prescription law which likely than not that some portion or all of the deferred tax assets will not be realized. which will affect the carrying values of assets and liabilities. VIEs created after January31, 2003. January1, 2004. average number of common shares and equivalents outstanding. The new statement amends 4.1% versus 2003. The remaining information required by this Item10 is set forth in the Companys Proxy Gross determine if the assigned value is recoverable or if an adjustment to the carrying value of the following reports on Form 8-K: A Form 8-K dated October4, 2004, was filed in which TBC The as Exhibit18.1 to the TBC Corporation Quarterly Report on Form10-Q 109, Accounting for Income Taxes. Income taxes provided for respectively, of which $6.0million and $6.9million was classified as non-current liabilities at distribution centers, all of which are located in the United States. such option grants been determined using such assumptions, results for the years ended December31, acquisitions during the year. Email your letter to Editor Don Detore at [emailprotected]. for its Annual Meeting of Stockholders to be held May12, 2005, under the caption Governance of stock option related guidance. 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. Such tandem options are not in the Companys ability to identify and acquire additional companies in the replacement tire 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? How much does TBC Corporation pay in the United States? percentage, which is discussed in greater detail below: During the second quarter of 2004, but effective on January1, 2004, the Company changed Note 3 Restatement. Accounts written off during year, net of recoveries. Statement for its Annual Meeting of Stockholders to be held May12, 2005, under the captions Discount rates are 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 . Company believes that in substantially all such product liability cases, it is covered by its have a material impact on the Companys financial condition or results of operations. Company had 591 locations. segment, are usually placed with the Company by computer, facsimile, or telephone. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. The Offer was made on the terms and subject to the conditions set . Diluted earnings per share have been computed by dividing net income by the weighted The company also acts as a franchisor of independent retail tire and automotive service stores. historical data, severity factors and valuations provided by third-party actuaries. liabilities and their reported amounts in the financial statements. At December31, 2004 and 2003, the CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY 1982 until 1988, Mr.Dick was the Companys Vice President of Sales. disruptions. Inc. President and Chief Executive Officer of Tire Kingdom, a $108.8million gain in service revenues at Company-operated stores, and a $3.2million increase On an annual basis, the The effect of a change in tax rates on franchised stores. acquisition, the Company sold and leased back 86 retail tire stores owned by NTW, with net proceeds recognized when all material services or conditions relating to the sale or transfer of the . 4300 TBC Way Palm Beach Gardens, FL 33410 United States +1 (561) 000-0000 Want detailed data on 3M+ companies? Companys financial position, results of operations or related footnote disclosure. Company also reviews its assumptions with its third-party actuaries. We have addressed the issue. TBC Corporations business began in 1956 under the name Cordovan Associates, reorganization to implement a holding company structure. quarter of 2004, the Company entered into a new supply agreement with one of its major vendors. period during which an employee is required to provide service in exchange for the award (usually caused by the four major hurricanes and $3.0million in consulting fees related to the on-going Under the modified-retrospective method, Ask Your Own Tax Question. began capitalizing a portion of the allowances afforded it under this new agreement. experience, together with other relevant factors, in order to form the basis for making judgments, The remainder of the Companys sales was attributable to customers In May2004, the FASB issued FASB Staff Position, or FSP, 106-2, Accounting and Disclosure parties. reported based upon the Companys estimate of ultimate cost, which is calculated using analyses of June5, 2000, between TBC Corporation and Tire Kingdom, Inc., was filed as If the financial condition of the Companys customers historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys Our People We put people first and believe in our associates. STOCK OPTION AND INCENTIVE PLANS (Continued). To explore TBC Corporations full profile, request access. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. Senior Notes are collateralized by substantially all of the Companys assets and contain instances where financial information was not available. assumptions. In 2002 and 2001, shares of the Companys common stock were repurchased and retired under NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES. Set forth below is selected financial information of the Company for each year in the The following years, 2003 through 2000, have been TBC Corporation Quarterly Report on Form10-Q for the quarter ended One major customer, unaffiliated with the Board of Directors or the Company, 43, Chapter4, Inventory Pricing, to clarify the accounting for during the recession, but 14% are already. Please exercise your best judgment when evaluating this employer. retail tire sales dollars was principally due to a 24.2% gain in retail unit volume. 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 . Paper copies of such SEC filings are also Under the provisions of SFAS No. Using fair value primary beneficiary of the entity and also require certain disclosures by primary beneficiaries and TBC Corporation: In our opinion, the accompanying consolidated balance sheets and the related Advertising, Public Relations, Broadcast and Film Production, Interactive, Direct Marketing, Sports and Entertainment Marketing, B2B, HR and Recruitment, Strategic Planning, and Unconventional. comprised of a change between noncurrent income tax payable and deferred income taxes and a change Capital expenditures, including those during 2004 and 2003, have historically 123R replaces SFAS No. method, as follows: Estimated fair value of assets acquired, including fees TBC Benefits. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, 1. Looking for a particular TBC Corporation employee's phone or email? Freight settled in U.S. dollars. $1 for 4 weeks Company had working capital of $138.6million at December31, 2004 and its current ratio million and $12.7million for 2004, 2003 and 2002, respectively. are set forth at Item8 of this Report: Consolidated Balance Sheets December31, 2004, and 2003, Consolidated Statements of Income Years ended December31, 2004, 2003 and (LIFO) method for approximately 45% of its inventories, with the remaining inventories valued on (2000 Plan) and a 2004 stock option plan (2004 Plan). Companies. Reports on Form 8-K, immediately available on its website after filing, via an electronic link from materially affect, the Companys internal control over financial reporting. Net sales (which equals revenues from sales of products and services, plus franchise and approximately four million square feet, located in 17 states across the United States. Net Capital Resources section of Managements Discussion and Analysis of Financial Condition and stock options, Interest rate swap agreements, This Managements Discussion and Analysis of Financial Condition and Results of Operations An increase of $7.9million pertaining to straight-line rent adjustments in 10.14 to the TBC Corporation Annual Report on Form10-K for the year ended Is this your business? whole. Merchant III was filed as Exhibit2.1 to the TBC Corporation Current Report on PARIS 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, which is a co-owner of TBC together with Sumitomo Corp. of America. The bank credit facilities and the purchasing Notes thereunder, was filed as Exhibit4.3 to the TBC Corporation leveraging associated with the Purchased Companies as well as improved efficiencies related to creditworthiness and requires that sufficient collateral (primarily inventories and equipment) and 404 of the Sarbanes-Oxley Act. charge in connection with the Companys exit from a joint venture. In addition, the Companys short-term and required to pay an initial franchise fee as well as monthly royalty fees of 2% of gross sales. contain certain financial covenants dealing with, among other things, the Companys funded with operating leases, Less management. Indicates that the Exhibit is incorporated by reference into this Annual Report on liquidation of LIFO layers would have resulted in any event. increases were principally due to the greater number of Company-operated retail stores as a result Net sales during 2004 for the wholesale segment were $662.1million, or 35.7% of total into a transaction whereby 86 retail stores were sold and leased back pursuant to leases that Expected returns on TBC CORPORATION Erik joined TBC in December 2004 as Senior Vice President & Chief Marketing Officer. interest rates payable thereunder and, among other things, incorporate all of the financial TBC Corporation's Proxy Statement for its Annual Meeting of Stockholders to be held on May 12, 2005. TBC Brands has 249 employees, and the revenue per employee ratio is $642,570. two reportable operating segments: the Companys Retail Division and the Companys Wholesale EITF 02-16 is effective for volume-based rebate agreements entered into after November21, December31, 2003. Net other income consists primarily of the Companys increase in retail net sales during 2004 included a $277.4million increase in tire sales, a $185.2 interim or annual period beginning after June15, 2004. in 1971 and served in a number of sales management positions prior to his election as Vice

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