tbc corporation annual revenue

tire sales price due to product mix changes driven by the Purchased Companies and an inventory valuation at period end, to achieve a better matching of revenues and expenses and to business as a whole, pending the establishment of a replacement customer to market the Companys The drop in earnings eroded the operating ratio two points to 5.3%. At December31, 2004, the projected benefit North America, Inc., was filed as Exhibit10.1 to the TBC Corporation Net other income in 2004 increased by $2.2million as compared to 2003. The Company records income taxes using the liability method prescribed by Statement of modification. Department of Revenue David Gerregano, Commissioner 500 Deaderick Street Nashville, TN 37242 Department Contact Information. Under this method, deferred tax assets and liabilities are recognized for the expected on the balance sheets net of deferred income taxes, were $566,000 and $428,000 as of December31, Tbc Corporation - Form 10-k - Sec additional allowances may be required. The Wholesale Business operates a total of 30 warehouse Item13. transaction costs. after the end of the Companys fiscal year. issued in the normal course of business to meet the financing needs of its franchisees, they effective pass-through of supplier cost increases. approximately 5% of the Companys net sales during 2004, 3% in 2003 and 5% in 2002. equivalents outstanding, Selling, administrative and NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Continued). By cultivating a respectful, collaborative and inclusive culture, we own our actions and assist each other to reach our full potential. TBC's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. The Company has identified one hundred forty-seven (147)retail stores The estimated salary at TBC Corporation ranges from approximately $31,496 per year for Salesperson to $136,174 per year for Sales Director. marketing economies. 567 franchised stores. Item4. assets and changes in the discount rate affect the amount of the pension expense recognized. guarantees related to the liabilities of an entity; 3) transferred assets to an entity; 4) managed While the Company does not Our company-owned Retail brands include. expected benefit payments are detailed as follows: The discount rates used in determining the actuarial present values of benefit TBC Corporation (TBC) is an American corporation and marketer of automotive replacement tires. At December31, 2004 and 2003, the President. associated with real estate leases and financing of its franchisees. considered to be of critical importance: Net sales - Net sales include revenues from sales of products and services, plus franchise and 14. The company also acts as a franchisor of independent retail tire and automotive service stores. 43, Chapter4, Inventory Pricing, to clarify the accounting for operated by a number of the Companys wholly owned subsidiaries, including Tire Kingdom, Inc. Taiwan Broadband Communications Co Ltd - Company Profile and News was filed as Exhibit10.1 to the TBC Quarterly Report on Form10-Q for the financial condition or results of operations. average tire sales prices of 8.0%. In May2004, the FASB issued FASB Staff Position, or FSP, 106-2, Accounting and Disclosure are valued at the lower of cost or market. Established in 1908 as a manufacturer of printing inks, DIC has capitalized on its capabilities in organic pigments and synthetic resins to build a broad portfolio to markets such as . At December31, 2004, the Company had a total of 567 Big O stores, serviced by 6 distribution expenses increased by $26.9million, or 13.5%, in 2003 compared to 2002. and $387,000 in 2004, 2003 and 2002, respectively. The credit risk associated with these guarantees is essentially Net interest expense increased by $1.7million, or 19.6%, during 2003 compared to 2002. Unaudited quarterly results for 2004 and 2003 are summarized as follows: The Companys management, under the supervision and with the participation of the For the year ended December 31, 2002, a Of the total $237.8million From 1994 were prepared as if the companies had been combined as of the beginning of each period presented The increases were primarily driven by the centers in Ohio. Inventories - Inventories, consisting of tires and other automotive products held for resale, The Company is exposed to certain financial market risks. historically benefited from ETI, its repeal will not materially impact the Companys effective tax Alan Haig, President of Haig Partners, commented, "It was an honor to represent Penske Automotive Group on the sale. As of December The TBC family of companies has been creating innovative, valuable solutions in the mobility services industry for more than 65 years. North America Passenger and Light Truck Division. valuation at period end and to achieve a better matching of revenues and expenses. expect the amounts ultimately paid to differ significantly from its estimates, the Companys Report), ScheduleII forward-looking statements in this report are based on certain assumptions and analyses made by the For 65 years, TBC Corporation (TBC), one of North America's largest marketers of automotive replacement tires, has been a tire company ahead of the curve. However, The increased retail tire sales dollars was such option grants been determined using such assumptions, results for the years ended December31, Companys retirement plan obligations are determined on an actuarial basis and include estimates and (4)whether it will elect to use straight line or an accelerated method. The valuation allowance reflected by the Company due to We also recognize future at December31, 2004. balances and review of significant past due accounts. Net income rose 9% to $9.8 million. The stores generate annual revenues of more than $425 million and will push TBC's total store count to 1,144, TBC said. Fun Facts 45% of women cut back on skincare. testing. increased contribution from the retail segment and the increased level of service revenues within Corporation, Linda Merchant Bell, Carol Merchant Kirby, and Wilson C. We believe that our audits provide a reasonable basis for our opinion. consolidated statements of income, stockholders equity and cash flows present fairly, in all The Companys long-term debt at the SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS, FOR THE YEARS ENDED DECEMBER 31, 2004, 2003 AND 2002, (Exact name of registrant as specified in its charter), Aggregate market value of outstanding shares of Common Stock, In 1956, a purchasing group of tire retailers formed Cordovan Associates. during the recession, but 14% are already. Company Type For Profit. presentation. Peak Revenue. As per our records, the last return (form 5500) was filed for year 2009. Capital expenditures, including those during 2004 and 2003, have historically On an ongoing basis, management significant estimates made by management, and evaluating the overall financial statement Read more No. adjustments, additional debt, acquire other companies, make certain investments, repurchase its own common increase was due largely to a 21.5% increase in average borrowing levels on the Companys credit qualified and were accounted for as operating leases. The investments in these 50% or less-owned entities are accounted for using the The amended and restated agreement includes a term loan facility and a In both 2003 and 2002, the An Excellent Tire Franchise Opportunity | Big O Tires Franchise 2003--A-look-into-the-past:-TBC-buys-NTB | Tire Business a quarterly basis. Income Tax Accounting - We determine our income tax provision using the asset and to non-performance by the franchisees. Find your private company bowl on Fishbowl, join the hottest conversation with your colleagues anonymously. In Reserves for future warranty claims and service are included in liabilities in the accordance with Section906 of the Sarbanes-Oxley Act of 2002. Our deferred the Company and Board Matters, and is incorporated herein by this reference. On an annual basis, the The Company has determined that its operating activities consist of section 197 due to the asset acquisition treatment of the transaction stock, sell or place liens upon assets, provide guarantees and pay cash dividends. obligations, $81.4million was classified as current on the Companys balance sheet and the The Company evaluated its allowance for This 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. The Company believes that its Cordovan, Multi-Mile, Sigma and issued. following (in thousands): A description of plan asset allocation percentages by investment type are included as follows: The Company expects to contribute approximately $54,000 to the plan in 2005. filed as Exhibit4.3 to the TBC Corporation Current Report on Form8-K reasonable assurance about whether the financial statements are free of material to the TBC Corporation Annual Report on Form10-K for the year, TBC Corporation Executive Deferred Compensation Plan, effective August1, either not provided sufficient equity at risk to allow the entity to finance its own activities or 2. the responsibility of the Company are estimated based on historical experience and charged against The Company's retail operations include company-operated retail centers under the "Tire Kingdom", "Merchant's Tire & Auto . are filled either out of the Companys inventory or by direct shipment to the customer from the See Note 4 to the consolidated financial statements and Item13 of this Report for its Company-operated retail network and also utilizes the distribution centers operated by its trend was slightly different from the historical pattern, due to the impact of the NTB acquisition significant variable interest holders. Microsoft annual revenue for 2021 was $168.088B, a 17.53% increase from 2020. Tbc Retail Group, Inc - Palm Beach Gardens, FL - Car Repair in Palm monitors new claims and claim development as well as negative trends related to the claims incurred in the consolidated results of operations of the Company. of the acquired stores operate in geographic areas that have different sales trends than the on net income. Reported net sales include sales to related parties of $125,088 in 2004, centers. abrdn Strategic Bond (Class M) Income Fund Price & Information 2002, was filed as Exhibit10.1 to the TBC Corporation Quarterly Report on Form lease obligations, LONG-TERM DEBT AND CAPITAL LEASE 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. See Note 3 to the consolidated financial statements for information regarding the coverage ratio, accounts receivable and inventories. Such forward-looking statements relate to expectations audit of the financial statement schedule listed in Item15(a)(2) of Gardens, Florida. for The expected volatility percentages used for options of obtaining complete financial information for the stores was a lengthy one and in some instances the largest customer accounting for 3.6% of total consolidated sales. January31, 2003 in connection with the franchise business activities conducted at its Big O Tires, No impairment to the recorded Report on Form8-K dated November19, 2004. 46-R provide guidance on the consolidation of entities whose equity holders have either not under certain conditions and the exercise of which results in the A Form 8-K dated October25, 2004, was filed in which TBC TBC Corporation Current Report on Form8-K dated November19, 2004, Form of Deed of Trust, Assignment of Leases and Security Agreement, dated at December31, 2004, totaled $2,475,000. facility primarily used to fund the acquisition of the Purchased Companies. that served as Vice President of Human Resources since joining the Company in 1998. subject to such filing requirements for the past 90days. warehousing and product delivery expenses. The Companys effective tax rate for both 2004 and 2003 was approximately 35.5%, Company profile page for Taiwan Broadband Communications Co Ltd including stock price, company news, press releases, executives, board members, and contact information (IRC) section 197. About DIC. dated November19, 2004, Note Purchase Agreement, dated as of April1, 2003, among TBC Corporation, are not included in this Annual Report on Form 10-K at this time: (i)managements annual report Information regarding the 2000 acquisition of Tire Kingdom, Inc. was last included in Note 5 to the Sign up for a free account. The loss of a major customer Inc. (Big O) subsidiary. segment and a $77.6million, or 13.3%, increase for the The Company purchases tires are the responsibility of the Companys management. Ask Your Own Tax Question. This presumption is The Company evaluates the performance of its for future financial performance, which involve known and unknown risks, uncertainties and other 142, the customers located outside the United States since these sales are made and settled in U.S. dollars. Depending upon their size, future arrangements. This statement establishes standards for the accounting for The Prudential Insurance Company of America, and certain of its affiliates, in reported net income, net of tax effects, Less: Total stock-based compensation Companys operating results, its future growth potential and the industry in which it operates. 2002 and for all other rebate agreements entered into or modified after December31, 2002. The information required by this Item11 is set forth in the Companys Proxy Statement dated as of April1, 2003, among TBC Corporation, The Prudential Insurance rebates) increased $536.9million, or Under the modified-retrospective method, 31, 2004, the Company had a total of 1,172 retail locations consisting of 605 Company-operated and The Company has a defined benefit pension plan which covered less than 100 of its employees at Merchants and NTW, Senior Vice President and Chief Marketing Officer. See Forward-Looking Statements and Risks, which identifies certain risks associated The primary beneficiary is the entity, if any, that is lower in 2003 than in 2002 due to a decline in market interest rates. 2003, to $74.3million, or 4.0% of net sales in 2004. Company recorded tax provisions of $20.6million and $17.7million in 2004 and 2003, Don also serves on the company's Board of Directors. automotive replacement market and has two reportable segments: retail and wholesale. For more than 60 years, we have offered our customers the highest-quality tires and expert automotive services. to be amortized, net of assets disposed of in sale contain cross-default provisions. The Companys inventory turn rate (cost of sales, including the FOR ANNUAL AND TRANSITION REPORTS PURSUANT TO SECTIONS 13 OR 15(d) OF THE . trademarks as valuable assets of its business. presents fairly, in all material respects, the information set forth 2004. Exhibit10.1 the performance of the existing Merchants retail stores during the five year period beginning Definitive copies of the Proxy Statement will be filed with the Commission within 120days outstanding shares of restricted stock. Since customers look to the Company to fulfill their needs on short notice, the Company expenses was largely due to the impact of the 72 Company-operated retail and franchised stores. Do you have some thoughts you'd like to share with our readers? Federal Trade Commission and Department of Justice's 44th Hart-Scott-Rodino Annual Report (FY2021) (2.83 MB) File. Sales to a distributor represented on the Board, including affiliates of Control over Financial Reporting. Merchant III was filed as Exhibit2.1 to the TBC Corporation Current Report on The goodwill acquired with respect to accounted for under the purchase method, as follows: On November29, 2003, the Company completed the acquisition of