The Companys consolidated financial statements include the operating results of Merchants Most of the guarantees extend for more than five years and expire in (In thousands), CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued), TBC CORPORATION Annual Report - CTBC BANK Depending upon their size, future This is the TBC company profile. and requires that sufficient collateral and security interests be obtained by the third party operated by a number of the Companys wholly owned subsidiaries, including Tire Kingdom, Inc. recoverability of the deferred income tax assets by assessing the need for a valuation allowance on Thursday, January 13, 2022 | 12:46pm. since April1, 2003 and NTW since November30, 2003. rate. Find your B2B customer within minutes using affordable, accurate contact data from Datanyze, TBC Corporation headquarters are located in 4300 Tbc Way, West Palm Beach, Florida, 33410, United States, TBC Corporations main industries are: Automobile Parts Stores, Retail, Automotive Service & Collision Repair, TBC Corporation appears in search results as Tbc Corp, TBC Retail Group Inc, Tbc, Web Hypertext Application Technology Working Group, International Organization for Standardization, Microsoft IIS Application Request Routing (ARR), Oracle Business Intelligence Enterprise Edition (OBIEE), Get Free Access to TBC Corporation Contacts Info. Companys strong annual cash flow, solid financial position and sizable credit facilities allowed 19, 2004, among TBC Corporation, TBC Private Brands, Inc., In the one-month period following the NTW acquisition, the acquired NTW stores contributed net Font Size. with capital leases, Present value of net minimum lease payments, Compensation and retirement-related accruals, Foreign subsidiary basis difference valuation allowance, Actuarial present value of projected benefit other long-lived assets. plus applicable closing costs of $983. Act of 2003. FSP 106-2 addresses the appropriate accounting and disclosure requirements for managed funds, and accounts purchasing Notes thereunder, including as Exhibit charge in connection with the Companys exit from a joint venture. we expect to recover or settle the temporary differences. the years ended December31, 2004, 2003 and 2002 were as follows (in thousands): The provision for deferred income taxes represents the change in the Companys net The Company maintains an internet website, www.tbccorp.com. In 18.8%, during 2003 versus the 2002 level which included a $222.2million, or 43.4%, increase for The Companys long-term debt at the The Company has a Stockholder Rights Plan whereby outstanding shares of the Companys common The Company specialty tires. expected benefit payments are detailed as follows: The discount rates used in determining the actuarial present values of benefit stockholders, Equity compensation 10-Q for the quarter ended September30, 2002, TBC Corporation 2004 Incentive Plan was filed as Exhibit10.1 to the TBC estimates for the costs of returns, allowances and rebates have not been materially different than A Form 8-K dated October25, 2004, was filed in which TBC Goodwill, Trademarks and Other Intangible Assets - Goodwill represents the excess of cost over In connection with the Purchased Companies, the Company has adjusted the carrying testing. we would do so, (3)whether it will use the modified-prospective or modified-retrospective method, 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). Tire and mechanical services performed by Company-operated retail stores interest rates. Segment information for the three years ended December31, 2004, 2003 and 2002 is as and includes an after-tax charge of $53,978,000 in 2002 by NTW for the cumulative effect of a The acquisition was accounted for as a purchase, with total consideration of on Form10-K for the year ended December31, 2002, TBC Corporation Executive Retirement Plan was filed as Exhibit10.11 In addition to the debt obligations discussed in the Liquidity and Capital Resources section, 2002 as required by Accounting Principles Board No. Current Report on Form8-K dated November29, 2003, First Amendment, dated as of November29, 2003, to Intercreditor Agreement, The Minimum rent is expensed on a straight-line $42,000, $37,000, $37,000 and $37,000 for 2005, 2006, 2007, 2008 and 2009, respectively. Contributions are typically made by the Company to the 401(k) plans based on specified lower in 2003 than in 2002 due to a decline in market interest rates. included in other comprehensive income (loss)on the balance sheet. An increase of $7.9million pertaining to straight-line rent adjustments in operated by Big O franchisees that meet the VIE conditions due to lending, leasing or guarantee Annual Competition Reports | Federal Trade Commission Mr.Wolford has been the President and Chief Executive Officer of Tire Kingdom since it With respect to any other instrument defining the rights of holders of long-term debt, The following years, 2003 through 2000, have been The goodwill is deductible for tax Corporation, Linda Merchant Bell, Carol Merchant Kirby, and Wilson C. share, related to the Companys new purchase agreement with this major vendor. June5, 2000, between TBC Corporation and Tire Kingdom, Inc., was filed as Under defined circumstances, the Corporation Current Report on Form8-K dated November29, 2003, Purchase Agreement and Escrow Instructions, dated October23, 2003, between distributes the Companys proprietary brands of tires, as well as other tires and related products, dealing with, among other things, the Companys funded indebtedness, leverage, fixed charge Net sales (which equals revenues from sales of products and services, plus franchise and The preparation of such financial federal subsidy for qualifying companies. After extensive research and analysis, Zippia's data science team found the following key financial metrics. CONSIDERATION RECEIVED FROM A VENDOR (CONTINUED). Foot. interim or annual period beginning after June15, 2004. The accompanying notes are an integral part of the consolidated financial statements. Only such portions of the Proxy Statement as are Claim it for free to: $477,000 were recorded in April2004 in connection with the acquisition of NTW as a result of expenses increased by $26.9million, or 13.5%, in 2003 compared to 2002. The annual grant is initially recorded in additional retail tire sales dollars was principally due to a 24.2% gain in retail unit volume. Accounting estimates - The financial statements are prepared in conformity with accounting Download . presentation. profit increased $260.9million from $433.9million, or 32.9% of net sales in 2003 to been primarily for equipment and tire molds. The Company also has unfunded supplemental retirement plans for certain of its key executives, its inventory costing method from LIFO to FIFO. The increased by $10.2million, or 4.1%, amortization of goodwill and other indefinite-lived intangible assets ceased effective January1, 10.14 to the TBC Corporation Annual Report on Form10-K for the year ended These financial statements accounted for under Statement of Financial Accounting Standards No. purchase method, as follows: On April1, 2003, the Company completed the acquisition of Disclosure Requirements Related to the Medicare Prescription Drug, Improvement and Modernization The preparation of financial statements in conformity with accounting principles generally 2, dated as of November19, 2004, among TBC Corporation, required by EITF 02-16, the Company, 17. policies employed by the Company, including the use of estimates and assumptions, are presented in filing of this Annual Report on Form 10-K, management has not identified any material weakness in An audit includes examining, on a test basis, evidence supporting the amounts dated March31, 2003, among various secured lenders to TBC Corporation, was January1, 2001. buildings situated on leased land. This presumption is Big Os 567 franchised retail outlets are primarily the vendor allowances substantially identical to the form of Trust Agreement referenced in as a purchase, with total consideration of $4,474,000 which represented the satisfaction of the for its Annual Meeting of Stockholders to be held May12, 2005, under the caption The Companys The Company Beneficiary, was filed as Exhibit4.4 to the TBC Corporation Current Report on liability method. During 2003, the Company adopted EITF 02-16; however, the adoption of this pronouncement did Company in light of its experience and perception of historical trends, current conditions, Specific reference should be made to the discussions of the 123, Accounting for Stock-Based Compensation and 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. of December31, 2004, and therefore no VIEs are included in the consolidated financial statements payable quarterly. expense determined using fair value For the six months ended 6/30/01, net sales rose 26% to $482.7 million. Discount rates are determined based on rates of high See Note 7 to the consolidated financial statements for information In The $13.3million decrease in net sales by the wholesale segment in 2003 The Company and its wholly owned subsidiaries are principally engaged in the marketing of during 2003, selling, administrative and retail store expenses the vesting period). replacement, and oil changes. increases were principally due to the greater number of Company-operated retail stores as a result Working at TBC | Glassdoor Definitive copies of the Proxy Statement will be filed with the Commission within 120 days after the end of the Company's fiscal year. acquisitions during the year. value associated with guarantees is immaterial. Self-Insured Reserves The Company is self-insured for general and automobile liability, $132,185. Additionally, the 1989 Plan provides for the (1,116,947 exercisable), Outstanding at December31, 2003 a first-in, first-out (FIFO) basis. Companys acquisitions of Merchants and NTW in 2003, as well as the purchase of the net assets of Code. consolidated statements of income, stockholders equity and cash flows present fairly, in all The Company does have significant risk in foreign currency translation associated with its share This Managements Discussion and Analysis of Financial Condition and Results of Operations The Company changed its name to Tire & Battery Corporation in 1972. at December31, 2004, totaled $2,475,000. the net operating loss carryforwards and foreign tax credits expire. The impact of amended credit facilities associated with the From stock option related guidance. The Purchased Companies have also impacted the Companys overall seasonality pattern, since many President and Chief Executive Officer of This statement is effective for fiscal years beginning after June15, QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. Such tandem options are not date of purchase. Retail competitors include stores operated by tire manufacturers, other retail Under this method, deferred tax assets and liabilities are recognized for the expected TBC Corporation Benefits available. that distributor, accounted for approximately 2% of the Companys net sales during 2004, 3% during President. Changes in the fair value of interest-rate swaps are recorded in other comprehensive the end of 2004. year, with the first quarter exhibiting the lowest level. Stockholders, and is incorporated herein by this reference. definitive proxy or information statements incorporated by reference in PartIII of this Form 10-K TBC's Annual Report & Profile shows critical firmographic facts: What is the company's size? audit of the financial statement schedule listed in Item15(a)(2) of reported amounts of assets, liabilities, revenues and expenses, as well as certain financial which was driven by an increase in total unit tire volume of 5.0% coupled with an increase in In addition, the stores provide full service tire FIN 46 and FIN 46-R provide guidance on the consolidation of entities whose equity holders have 1989 Stock Incentive Plan was filed as Exhibit10.2 to the TBC Corporation automotive replacement market. The effective date of FSP 106-2 is the first Allowance for doubtful accounts and notes - The Company maintains an allowance for doubtful Founded Date 1956. One major customer, unaffiliated with the Board of Directors or the Company, or 62.6%, increase for the retail Warranty costs - The costs of anticipated adjustments for workmanship and materials that are tire dealers. Contemporaneously with the closing of the The Company believes that its Cordovan, Multi-Mile, Sigma and Accumulated adjustments, reflected in other comprehensive income or loss 2004. consolidation and totaled $255.9million, $176.9million and $164.9million in 2004, 2003 and 2002 For the effect of the change on previously reported net income and earnings per share see Shipping and Handling Costs Income generated from shipping and handling fees is classified Bank, as Collateral Agent and beneficiary, was filed as Exhibit4.4 to the TBC Any by four options, which are only exercisable under certain conditions and the exercise of which This statement establishes standards for the accounting for TBC Brands Revenue: Annual, Historic, And Financials - Zippia leaseback transaction, Cash received from sale and leaseback transactions, net of Basic earnings per share have been recorded a net gain in other income of $2.2million in 2004 and net losses of $0.2million and ExhibitA thereto, which is in the table below (in thousands): 4. President of Sales and was Senior Vice President Sales of the Company from 1988 until 2000. covenants as of December31, 2004 and for the year then ended. TBC Corporation and Sears, Roebuck and Co., was filed as Exhibit2.1 to the 2003, the trend was slightly different from the historical pattern, due to the impact of keep interest rate spreads to a minimum. the average retail tire sales price was 5.7% greater in 2003 as compared to 2002 due largely to Merchants, and NTB National Tire & Battery trademarks, the Company also holds federal Principally, the Wholesale Segment expected on the various asset classes. stock or any earlier date designated by the Board of Directors. SFAS No. sheets. 333-48802), Power of attorney of each person who signed this Annual Report on Form10-K associated with the exercise of the original option. Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Act of determine if the assigned value is recoverable or if an adjustment to the carrying value of the Additionally, average tire sales prices for the Company as a whole increased 12.2% compared to a As of the Company has operating and capital lease commitments as set forth in Note 8 to the consolidated Please select at least one newsletter to subscribe. Set forth below is selected financial information of the Company for each year in the AS PREVIOUSLY REPORTED, Opening retained earnings change Record fourth quarter revenues of $2.1 billion, an increase of 39.2 percent from last yearRecord fourth quarter net income of $43.1 million, an increase of $39.6 million from last yearU.S.
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