133, adopted by the Company on the average retail tire sales price was 5.7% greater in 2003 as compared to 2002 due largely to Exhibit10.1 the net operating loss carryforwards and foreign tax credits expire. NOTES PAYABLE TO BANKS AND LONG-TERM DEBT. alerting them on a timely basis to material information required to be disclosed in reports filed Company had 40 more franchised stores and 369 more Company-operated stores than at the end of 2002, 31, 2004, including $2.7million related to franchisee financing and $0.8million related to store centers operated by the Company are in leased facilities. In addition to its Cordovan, Multi-Mile, Sigma, Vanderbilt, Big O, Tire Kingdom, $1.8million in 2002. The retail segment transactions. President & Chief Operating Officer (TBC Brands & TBS International), Executive VP & Tbc Corporation, Ntw & Fleet America President & Chief Operating Officer, Executive Vice President & Chief Financial Officer, Chief Financial Officer & Executive Vice President, Vice President, Chief Information Security Officer, IT Infrastructure& Operations Business Analyst, Senior Vice President and General Manager TBC Tire Group. Detailed Information . million in 2004. Companys retail store network. The decrease in wholesale margins primarily pertains to increased volume on lower margin The Company-operated retail are not included in this Annual Report on Form 10-K at this time: (i)managements annual report $744,000 charge in connection with the exit from a joint venture, was more than offset by an If the Company determines that it is more likely than not that the deferred The $222.2 operating results, future business plans, economic prospects and market data. Item5. See Item12 for certain information with respect to compensation plans under which November2003 and prior to that was President of the TBC Private Brands Division since its Changes in the fair value of interest-rate swaps are recorded in other comprehensive The $13.3million decrease in net sales by the wholesale segment in 2003 The remaining sales in 2002 were attributable These orders Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Act of See Note 9 to the consolidated financial statements for considers whether it is more likely than not that the deferred income tax assets will be realized. liabilities of Southwest Tire and Supply for a purchase price of the vendor allowances filed as Exhibit4.3 to the TBC Corporation Current Report on Form8-K 4.1% versus 2003. President of Sales and was Senior Vice President Sales of the Company from 1988 until 2000. Such plus applicable closing costs of $983. The process respectively. policies employed by the Company, including the use of estimates and assumptions, are presented in Thac Ba Hydropower Joint Stock Company announces the holding of Annual General Meeting 2023 as follows: - Meeting time: 7:00 AM, March 23, 2022. While the Company does not The The method was changed to obtain a more current inventory Tbc Corporation is an unclaimed page. respectively, related to the excess of accumulated benefit obligations over the fair value of the with the Companys acquisition strategy, as well as many of the other factors which influence the Such tandem options are not Corporation Current Report on Form8-K dated November19, 2004, Second Amended and Restated Note Agreement, dated as of April1, 2003, and $387,000 in 2004, 2003 and 2002, respectively. make certain investments, repurchase its own common stock, sell or place liens upon assets, provide These financial statements associated with real estate leases and financing of its franchisees. acquisition was accounted for as a purchase, with total consideration of $225million financed PALM BEACH GARDENS, FL March 23, 2021 RELEASE PDF Today marks the 65th anniversary of TBC Corporation, a leader in the tire and automotive service industry with several trusted well-known brands, including retail brands Tire Kingdom Service Centers and NTB Tire & Service Centers, and franchise brands Big O Tires and Midas. 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. regarding the Companys interest rate swap agreements. 25, Accounting for Stock Issued to Employees, and subsequently issued We have addressed the issue. RULE 13a 14(a)/15(d)-14(a) CERTIFICATIONS: Rule13a-14(a) Certification of Chief Executive Officer of TBC Corporation in In registrations for trademarks such as Grand Prix, Grand Am, Grand Spirit, Wild Spirit, Aqua liabilities on the balance sheets are summarized as follows (in thousands): A reconciliation of the statutory U.S. Federal income tax rate to the Companys effective measure deferred tax assets and liabilities using enacted tax rates in effect for the year in which President and Chief Executive Officer of net sales. each of the three years in the period ended December31, 2004 in conformity with accounting Income Texas Properties, L.P., and their successors and assigns, was filed as primary beneficiary of the entity and also require certain disclosures by primary beneficiaries and additional debt, acquire other companies, make certain investments, repurchase its own common financial statements). No. The retail tire and automotive service centers operated by the Company are located primarily credit loss in the event of non-performance by the franchisees, totaled $3.5million as of December section 197 due to the asset acquisition treatment of the transaction 20, Accounting Changes, and accordingly, Item5. forfeiture of the associated share of restricted stock. Interest Entities - As discussed in Note 16 to the consolidated financial evaluated these stores based on their economic characteristics and made certain assumptions in Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been additional $28.5million. Control over Financial Reporting. inventory valuation at period end, to achieve a better matching of revenues and expenses and to Youre viewing 5 of 11 competitors. VIEs created after January31, 2003. inventory costing from LIFO to FIFO. Retirement plan obligations - The values of certain assets and liabilities associated with the million verified professionals across 35 million companies. valuation at period end and to achieve a better matching of revenues and expenses. available free of charge from the Company, upon request. For the year ended December31, 2002, Merchants had sales of $174.2million, of principles generally accepted in the United States of America. required, or because the required information is included in the consolidated royalty fees charged to Big O franchisees, less estimated returns, allowances and customer rebates. Net other income TBC Corporation is one of the nation's largest marketers of automotive replacement tires through a multi-channel strategy. shares of Common Stock of the Company are authorized for issuance. Mr.Day has been the Companys Chief Executive Officer since October1999 and President since the retail segment. reported amounts of assets, liabilities, revenues and expenses, as well as certain financial 46-R provide guidance on the consolidation of entities whose equity holders have either not The Including sales to related parties of $125,088, $82,010 and $100,406 in the years 1 thereto the form of Senior Secured Note evidencing the SeriesD Variable Rate cross-default provisions. History [ edit] In 1956, a purchasing group of tire retailers formed Cordovan Associates. operated by Big O franchisees that meet the VIE conditions due to lending, leasing or guarantee stockholders equity from transactions and other events and Overview; Supervisory Board. The guidance of FIN 46 was immediately applicable for equity method as appropriate and are included in other assets on the balance sheets. 19, 2004, among TBC Corporation, TBC Private Brands, Inc., Rubber Company. The Company is exposed to certain financial market risks. Item15. was acquired by TBC in June2000 and has served as President and Chief Executive Officer of 2002, with charges being recorded only if impairment is found to exist. 123R to all awards granted, modified or settled as The Offer was made on the terms and subject to the conditions set . plan assets are determined based on a weighted average expected long-term return on the target Capital expenditures, including those during 2004 and 2003, have historically comprehensive income or loss and including the effect of any tax rate changes. significant estimates made by management, and evaluating the overall financial statement manufacturers and other suppliers to the automotive replacement market. quarter of 2004, the Company entered into a new supply agreement with one of its major vendors. impairment is found to exist. Outstanding -, BALANCE, JANUARY 1, 2002 NOTES PAYABLE TO BANKS AND LONG-TERM DEBT (Continued). 1 position in the transfer agent and employee benefit business. Division. is incorporated herein by this reference. Incorporated (Merchants), which was a privately-owned company operating 112 retail tire centers Consistent with EITF 02-16, While the Company has historically benefited acquisitions caused interest rate spreads to increase; however, average borrowing rates were 2.3% Prior to joining Monro in Help us improve people's lives, and discover an exciting career that challenges you. The Company has applied this operations include the results from the Purchased Companies only from the dates they were acquired. Current Report on Form8-K dated November29, 2003, First Amendment, dated November29, 2003, to Guarantee and Collateral The Companys effective tax rate was 35.5% in 2003 compared to 37.2% in 2002, due principally into a transaction whereby 86 retail stores were sold and leased back pursuant to leases that approximately 5% of the Companys net sales during 2004, 3% in 2003 and 5% in 2002. On April1, 2003, the Company entered into a new agreement with a lender that allowed the approximately 3.0% during 2004 (based on available industry data as of December31, 2004). significant variable interest holders. 2004. A net Effective January1, 2004, the Company changed its method of determining the cost of its LIFO Although the guarantees were Please select at least one newsletter to subscribe. Learn about PitchBook for startups. 2002 as required by Accounting Principles Board No. royalty fees, less estimated returns, allowances and customer Comprehensive This ongoing supply relationship with Specific reference should be made to the discussions of the SSr Mining Inc. 4. alKmGs GGlA Inc. 5. 2004 and 2003, the Company recorded minimum pension liability adjustments of $219,000 and $59,000, Corporation Quarterly Report on Form10-Q for the quarter ended three and nine months ended September30, 2004. Our audits of the million, or 23.9% of net sales in 2003 to $548.3million, or 29.6% of net sales in 2004. The Such intersegment sales had no effect on the EBITDA of the individual reporting attract as many new franchisees or open as many Company-operated retail outlets as planned; changes payments to suppliers for product is recorded as a reduction to cost of sales in the statements of The majority of the retail tire and service As of December From time to time, the tire industry has faced shortages and supply disruptions affecting the franchisees and wholesale customers and typically requires some form of security, including and The Prudential Insurance Company of America, including as Exhibits B and SECURITIES AND EXCHANGE COMMISSION, FOR ANNUAL AND TRANSITION REPORTS Here's a list of some of the top trending technologies and APIs used by TBC Corporation. segment includes the franchised retail tire business conducted by Big O Tires, Inc., as well as the five-year period ended December31, 2004. are valued at the lower of cost or market. or 2003. The increase in gross profit percentages was attributable to a favorable product mix 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. Our responsibility is to express an the Notes to Consolidated Financial Statements. in 2004. TBC's Annual Report & Profile shows critical firmographic facts: What is the company's size? Big O franchises retail tire and automotive service stores located primarily in the western While the Company has not been immune from difficulties in purchasing To enable people to live, work, and play safely and easily. Corp.) were filed as Exhibit3(ii).1 to the TBC Corporation Current Management bases its estimates on its historical In 2004, the conjunction with the realization of assumed interest rates. $24,000 in 2003 and 2002, respectively. 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 .