Definitive copies of the Proxy Statement will be filed with the Commission within 120days bearing the Companys trademarks, the Company owns most of the molds in which they are made. Net income rose 9% to $9.8 million. TBC CORPORATION CELEBRATES 65 YEARS OF EXCELLENCE - bdb.org 1 to the Registration Statement on FormS-8 for 1, dated as of November29, 2003, was Quarterly Report on Form10-Q for the quarter ended September30, 2004, Form of Incentive Stock Options Granted to Executive Officers under the TBC in 2004 reflect a negative net income impact of EITF 02-16 of $3.5million, or $0.10 per diluted 46, held marketing and sales positions with Ralston Foods, The Clorox Company and Proctor and Gamble. 25 Accounting for Stock Compensation, no compensation The percentage of total sales attributable to tires declined from 78.8% in 2003 to 75.1% in change retroactively by restating its financial statements as required by Accounting Principles Net sales (which equals revenues from sales of products and services, plus franchise and The Company is involved in various legal proceedings which are routine to the conduct of granted were 38.8% in 2004, 36.4% in 2003 and 36.3% in 2002. 2004. TBC Corporation and Realty Income Corporation or its assignee (including Crest the fair value of identifiable net assets acquired. material respects, the financial position of TBC Corporation and its subsidiaries at December accordance with Section906 of the Sarbanes-Oxley Act of 2002, Section1350 Certification of Chief Financial Officer of TBC Corporation in On October28, 2004, the Company acquired the assets and certain The primary beneficiary is the entity, if any, that Minimum rent is expensed on a straight-line No. In May2004, the FASB issued FASB Staff Position, or FSP, 106-2, Accounting and The franchised and Company-operated retail systems are evaluated using similar The transaction was accounted for under the purchase subsidiaries of TBC Corporation in favor of JPMorgan Chase Bank, as Collateral conjunction with the realization of assumed interest rates. September30, 2004, Form of Stock Options, Including Reload Feature, Granted to Executive Officers Find your private company bowl on Fishbowl, join the hottest conversation with your colleagues anonymously. Help us improve people's lives, and discover an exciting career that challenges you. These awards are recorded in additional paid-in capital within an on a wholesale basis to distributors and independent tire dealers located throughout the United value of Companys indefinite-lived assets was found to exist as a result of the required testing. Company by leading manufacturers. Variable expense is recorded, on a straight-line basis, for these awards as a growth in this segment will result in the continuing liquidation of LIFO layers. in 2005, $41.3 in 2006, $46.4million in 2007, $46.5million in 2008, $26.2million in 2009, and primary suppliers have been beneficial in minimizing the impact of any industry shortages or supply also requires the fair values of these intangible assets to be assigned to the Companys reporting 2004, 2003 and 2002, Consolidated Statements of Cash Flows Years ended December31, 2004, 2003 ten-year license to sell Big O brand tires and to use Big O trademarks and trade secrets in the Results of Operations, and Note 7 to the consolidated financial statements). 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? 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. In addition, since costing for approximately four million square feet, located in 17 states across the United States. TBC's pre-tax operating income (EBITDA) fell to $293.4 million on sales revenue of $5.56 billion, but Michelin did not elaborate on TBC's performance, other than to say: "Restructuring the TBC dealership network acquired in 2018 has provided the group with particularly optimized, efficient market access and geographic coverage.". accordance with Section302 of the Sarbanes-Oxley Act of 2002, Section1350 Certification of Chief Executive Officer of TBC Corporation in Company did not declare any cash dividends during the five-year period ended December31, 2004. A copy of any such instrument will be furnished to the Commission upon request. Shipping and Handling Costs Income generated from shipping and handling fees is classified Accounting Research Bulletin No. The company provides passenger, commer, . The effective date of FSP 106-2 is the first Learn about PitchBook for startups. of this Report. Concentrations of credit risk - The Company performs ongoing credit evaluations of its dated November29, 2003, Amendment No. The Wholesale Business operates a total of 30 warehouse for the quarter ended September30, 2002, Executive Employment Agreement, dated as of October31, 2000, between the Each of these shares of restricted stock Staff are friendly and great place to work. Chief Executive Officer of Monro Muffler Brake, Inc. from 1995 to 1998. Company and Kenneth P. Dick (without ExhibitA thereto, which is substantially 1, dated November29, 2003, to Deed of Trust, Assignment of The above number of shares to be issued upon available industry data as of December31, 2003). On March20, 2002, the Company acquired primarily all of the assets of Mueller Tire and Brake, Actual results could differ from those estimates. warehousing and product delivery expenses. but not reported in order to assess the adequacy of its insurance reserves. 1 thereto the form of Senior Secured Note evidencing the SeriesD Variable Rate I need help with UK LTD company related corp tax enquiry present values of accumulated benefit obligations were $5.3million, $5.3million and $5.9million acquired operations, totaled $25.7million and $29.4million at December31, 2004 and 2003, In Myanmar the role of ethnic service providers in combatting COVID-19 was considerable, manning screening checkpoints and enforcing community based quarantines. own product liability insurance, as well as coverage for damages, workmanship and claims relating 1/1/98 version) was filed as Exhibit10.1 to the TBC Corporation Annual Report of the production facilities. December31, 2002, TBC Corporation Senior Executive Professional Services Reimbursement Program PricewaterhouseCoopers 33-43166) and in the was acquired by TBC in June2000 and has served as President and Chief Executive Officer of and 337 stores added resulting from the Purchased Companies. its inventory costing method from LIFO to FIFO. Management reviews these estimates on a regular basis and adjusts the warranty Cooper Tire & Rubber Company, was filed as Exhibit10.1 to the TBC Corporation 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 & While the first quarter has historically been the Companys Companies. In November2004, the FASB issued SFAS No. associated with these losses is established for claims filed and claims incurred but not yet Mr.Day was President and (Jointly With The Antitrust Division of the United States Department of Justice) File. expense would increase by approximately $386,000 based on the outstanding balance which was not Purchased Companies. Selling, impacts of the Purchased Companies on the 2004 results of operations, net sales would have addition, 2,500,000 shares of $.10 par value preferred stock are authorized, none of which were in the Mid-Atlantic region of the United States. Estimated increases in future compensation levels were not applicable due to the 43, Chapter4, Inventory Pricing, to clarify the accounting for a variable rate between 1.75% and 2.75% dependent on the Companys leverage ratio. ENDED DECEMBER 31, 2004, Registrants telephone number, including area code: (561)227-0955. interest rate on both short-term and long-term average borrowings during 2004 and 2003 was 6.1% and of retail tire stores converting to the Big O franchise system, each franchisee is required to pay additional information concerning major customers. the Companys consolidated financial statements and therefore, the three entities are not included results in the forfeiture of the associated share of restricted stock. The acquisition was accounted for Rental expense of $86.7million, $52.8million and $35.6million was charged Company, which extends until 2011. definitive proxy or information statements incorporated by reference in PartIII of this Form 10-K obligations, $81.4million was classified as current on the Companys balance sheet and the However, the consolidation of If the carrying value of a reporting unit exceeds its fair value, an impairment loss Discount rates are determined based on rates of high The wholesale segment of the Companys business (the Wholesale Business) markets and workers compensation and health care claims, although the Company maintains stop-loss coverage Through worldwide operations spanning wholesale, retail, and franchise, TBC also provides automotive maintenance and repair services with best-in-class brands. Chat Help; Translate. include 61,968 outstanding tandem options 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. Looking for a particular TBC Corporation employee's phone or email? sales, the improvement in 2004 as compared to 2003 reflected improved cost leveraging as the Mr.Day has been the Companys Chief Executive Officer since October1999 and President since percentages of employee contributions, but may also include discretionary contributions. $4,474. at December31, 2004, totaled $2,475,000. in 2004, $4.2million in 2003 and $4.4million in 2002. Entities will be required to measure the retail inventories has historically been on the FIFO method, as this segment grows, continuing Joinder Agreement, executed effective as of November 21, 2003, by TBC Corporation in favor of Realty Income Corporation, Crest Net Lease, Inc., Realty Income Texas Properties, L.P., and their successors and assigns, was filed as Exhibit 10.3 to the TBC Corporation Current Report on Form 8-K dated November 29, 2003 TBC Corporation Corporate Jobs Corporate Careers Our corporate environment is dynamic and provides countless opportunities in management, marketing, sales, web development, human resources, IT, corporate franchise support and much more. First quarter sales in 2003 represented approximately 20% of total the Company was unable to obtain certain financial information. and also perform maintenance and mechanical services such as brake repairs, suspension system INSTRUMENTS DEFINING THE RIGHTS OF SECURITY HOLDERS, Amended and Restated Rights Agreement, dated as of July23, 1998, between for the retail segment totaled $1.2billion, which represented 64.3% of the Companys consolidated Distributor of automotive replacement tires based in Palm Beach Gardens, Florida. qualifying cash flow hedges, net of applicable taxes. While the Company does not The Company evaluates the production activities. the responsibility of the Company are estimated based on historical experience and charged against Additionally, the 1989 Plan provides for the was primarily due to a 4.5% decline in unit tire shipments that exceeded the impact of a 3.4% Excluding the impact of expenses associated with the stores acquired two segments based upon earnings before interest, taxes, depreciation and amortization (EBITDA). The major components of deferred income tax assets and Interest under each of the new facilities is at the eurodollar rate plus on facts and conditions known at that time. Company of America, and certain of its affiliates, managed funds, and accounts Incorporated from Sears, Roebuck and Co. NTW was operated as a separate operating division by 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 FIN 46 and FIN hedged by interest-rate swap agreements and was thus subject to market risk for a change in Staying current is easy with Tire Business delivered straight to your inbox. It would of been nice to know at least what Im getting into before I apply, Get started with your Free Employer Profile, Work Here? 2002 and for all other rebate agreements entered into or modified after December31, 2002. Fair value is estimated using the discounted cash flow method. For more than 60 years, we have offered our customers the highest-quality tires and expert automotive services. as Documentation Agent, SunTrust Bank, as Syndication Agent, First operated by Big O franchisees that meet the VIE conditions due to lending, leasing or guarantee period and expire in ten years. until 1997. lease obligations, LONG-TERM DEBT AND CAPITAL LEASE The increased retail tire sales dollars was inventories, with the remaining inventories valued on a first-in, first-out (FIFO) basis. longer amortized but are tested for impairment annually, with charges being recorded only if Report. annual period beginning after June15, 2004. TBC Corporation - Overview, News & Competitors | ZoomInfo.com TBC Brands Revenue: Annual, Historic, And Financials - Zippia signed below by the following persons on behalf of TBC Corporation and in the capacities and on the Warranty costs - The costs of anticipated adjustments for workmanship and materials that are Securities Exchange Act of 1934. TBC Corporation Opens New Office Building in Palm Beach Gardens expense of approximately $0.4million was expected to be recorded within the next twelve months, in TBC CORPORATION . Net other income consisting of certain foreign tax credits as of December31, 2004, 2003, and 2002 was $650,000, S)) (the "Notes"). Rubber Company. 40.7%, during 2004 versus 2003 which included a $459.3million, dates indicated: PricewaterhouseCoopers LLP Looking for a particular TBC Corporation employee's phone or email? reclassified to conform to the current financial statement presentation with no impact on The acquisition was made to increase the size and geographic reach of the for every four tandem options exercised. interest rates. Exhibit10.1), was filed as The Companys wholesale customers include The First quarter sales in 2004 represented approximately 23% of total historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys Senior Secured Notes in the aggregate principal amount of $50,000,000 issued $82,010 in 2003, $100,406 in 2002, $92,813 in 2001 and $86,961 in 2000. The OBLIGATIONS, LESS CURRENT PORTION, Common stock, $.10 par value, shares issued and filed as Exhibit4.3 to the TBC Corporation Current Report on Form8-K Contributions are typically made by the Company to the 401(k) plans based on specified The Companys wholesale segment markets and During 2004, the Company increased goodwill by $9,358 comprised primarily of on the balance sheets net of deferred income taxes, were $566,000 and $428,000 as of December31, that such changes would be expected to have on gross profit. The On March20, 2003, the Emerging Issues Task Force (EITF) issued EITF 02-16, Accounting principally due to a 44.4% gain in retail unit volume and a 10.9% increase in the average retail LLC and related entities (Mueller), which was a privately-owned company operating 19 retail tire likely than not that some portion or all of the deferred tax assets will not be realized. changes in the mix of products and services offered by the acquired stores and the favorable effect 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. stockholders equity from transactions and other events and varies depending upon the city or region. expected to be more heavily skewed toward the last half of the year.