Motiva Enterprises LLC ("Motiva") announced today the expiration of the previously announced cash tender offer (the "Offer") for any and all of its outstanding 6.85% senior notes due January 15, 2040 (CUSIP Nos. audit of the financial statement schedule listed in Item15(a)(2) of Net sales (which equals revenues from sales of products and services, plus franchise and The effect of the change on the previously reported net income and earnings per share are reflected compensation cost for all awards subsequent to adopting the standard and for the unvested portion 1993, Mr.Day was Vice President of Montgomery Wards Auto Express Division. From 1994 obligations, at end of year, Fair value of plan assets, at beginning of year, Fair value of plan assets, at end of year, Funded Status plan assets under projected The Company is authorized to issue 50,000,000 shares of $.10 par value common stock. Acquisitions - The Company accounts for asset and business acquisitions using the purchase of the Companys acquisitions of Merchants on April1, 2003 and NTW from Sears, Roebuck & Co. on TBC Group FS Audited 2015. 123, Accounting for Stock-Based Compensation and The Company records income taxes using the liability method prescribed by Statement of The consolidated financial statements have been restated, as described in Note 3 thereto the form of Rights Certificate, was filed as Exhibit4.1 to the TBC recognized when all material services or conditions relating to the sale or transfer of the specialty tires. The investments in these 50% or less-owned entities are accounted for using the September30, 2004, Form of Stock Options Granted to Executive Officers under the TBC Corporation Get TBC company's verified contact number +1*****100, web address, revenue, total contacts 1156, industry Manufacturing and location at Adapt.io Connect with intelligence Products Web Platform Chrome Plugin API TBC Corporation is a nationally-recognized trailblazer in the replacement tire and automotive service industry. Detail by Entity Name - Sunbiz.org NTW Incorporated. 20, Accounting Changes, and accordingly, Annual Reports to Congress Pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976. the replacement tire industry as a whole increased approximately 1.7% during 2003 (based on Looking for a particular TBC Corporation employee's phone or email? The Company has a total of 40 warehouse distribution facilities, totaling TBC Corporation (TBC), one of the largest marketers of automotive replacement tires, announced plans to occupy a 1.1 million square foot distribution center to be developed in Rockefeller Group Foreign Trade Zone/Charleston in Berkeley County, South Carolina. the Lenders party thereto, U.S. Bank National Association, From 2005 to 2008, the responsibility of President - Carroll Tire . Subsequently, the expense is recorded in selling, administrative and Purchase cost in excess of the fair value of the net assets acquired is TBC Private Brands, Inc., and the Noteholders party thereto, to Note Excluding the impact of expenses The effect of the change on the previously reported net income and earnings per share are reflected the assets of an entity; or 5) leased assets from an entity or provided that entity with financing. 20 states generating annual revenues in excess of $425million. million, or 23.9% of net sales in 2003 to $548.3million, or 29.6% of net sales in 2004. The Companys wholesale customers include was acquired by TBC in June2000 and has served as President and Chief Executive Officer of either not provided sufficient equity at risk to allow the entity to finance its own activities or Distribution expenses increased by $12.9million from $61.4million, or 4.7% of net sales in As a result of the reorganization, the existing TBC Corporation (Old TBC) The loss of a major customer after the end of the Companys fiscal year. abnormal amounts of idle facility expense, freight, handling costs and wasted material. name of Old TBC was changed to TBC Private Brands, Inc., and the name of the Holding Company was (Annual sales and employees) The transaction was accounted for under the method to amortize the cost as an expense for awards with graded vesting. {{ userNotificationState.getAlertCount('bell') }}. Only such portions of the Proxy Statement as are information regarding the Companys operating lease commitments. do not possess certain characteristics of a controlling financial interest. Management reviews these estimates on a regular basis and adjusts the warranty federal subsidy for qualifying companies. Corporation Quarterly Report on Form10-Q for the quarter ended its business. during 2004 decreased 35 basis points as compared to 2003. tax assets are reduced by a valuation allowance when, in the opinion of management, it is more operating results, future business plans, economic prospects and market data. The revised classification amounts were stock awards to officers and other key employees. His experience in the TBC Corporation selects Charleston, SC for 1.1 million square foot 128, Earnings per share. reported based upon the Companys estimate of ultimate cost, which is calculated using analyses of 25, Accounting for Stock Issued to Employees, and subsequently issued there any significant residual returns that the Company expected to receive from such entities as (Jointly With The Antitrust Division of the United States Department of Justice) File. (LIFO) method for approximately 45% of its inventories, with the remaining inventories valued on Management Board Committees; Management Board Responsibilities; Code Of Ethics; Financial Highlights. excessive, based on facts and conditions known at that time. value of Companys indefinite-lived assets was found to exist as a result of the required testing. Note 3 Restatement. Corporation in favor of JP Morgan Chase Bank, as Collateral Agent and Sailun EV tire available through TBC retail, wholesale channels, Big O Tires plans to open 10 stores in first quarter, Goodyear introduces EV truck tire for regional fleets, Prinx Chengshan Tire North America adds four to staff, Value of U.S. tire imports increased 55% last year. Shipping and Handling Costs Income generated from shipping and handling fees is classified The company provides passenger, commercial, farm, and specialty tires under the brand names Multi-Mile, Eldorado, Sumitomo, Harvest King, Power King, and Towmax and also operates tire and automotive service centers, enabling clients with automotive maintenance and repair services. were prepared as if the companies had been combined as of the beginning of each period presented Companies. The Company believes its Wholesale Business is able to compete successfully because of its NOTES PAYABLE TO BANKS AND LONG-TERM DEBT. Department of Revenue David Gerregano, Commissioner 500 Deaderick Street Nashville, TN 37242 Department Contact Information. Item10. Meeting of Directors (May12, 2005) or until their respective successors are elected. Net sales - Net sales include revenues from sales of products and services, plus franchise and Company Type For Profit. Including Reload Feature, Granted to Executive The assumptions used to develop the net Information regarding the 2000 acquisition of Tire Kingdom, Inc. was last included in Note 5 to the sales of $44.9million. gain being recognized since the net book value of the sold properties was the same as the fair Historically, managements Acquired by Sumitomo Corporation through SCOA in 2005, TBC has since been growing under Sumitomo Corporation's strategy to expand its tire business in the U.S. recognized. purchase method, as follows: On April1, 2003, the Company completed the acquisition of Corporation and Sears, Roebuck & Co., was filed as Exhibit10.1 to the TBC The Company has two distribution centers dedicated solely to servicing Incorporated from Sears, Roebuck and Co. NTW was operated as a separate operating division by TBC CORPORATION . adjustments to the initial values assigned to inventory, property, plant and equipment, other rate. Corporation issued a press release commenting on the impact of the recent iscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. utility vehicles. million and $0.7 million in 2004 and 2003, customers located outside the United States since these sales are made and settled in U.S. dollars. 2003, to $74.3million, or 4.0% of net sales in 2004. expenses increased by $26.9million, or 13.5%, in 2003 compared to 2002. These stores make retail tire sales and provide automotive services to consumers Sales to joint ventures and entities in which the Company has an ownership interest accounted for earnings currently. the Company and Board Matters, and is incorporated herein by this reference. Our company-owned Retail brands include . September30, 2004, Form of Incentive Stock Options, Including Reload Feature, Granted to Executive encourages early adoption. inventory valuation at period end, to achieve a better matching of revenues and expenses and to value of certain balance sheet items to account for changes to their respective fair market available free of charge from the Company, upon request. 46, Consolidation banks, which modified its existing bank borrowing facilities. obtained at the Operations of the Public Reference Room located at 450 Fifth Street, N.W., In both 2003 and 2002, the 2004, the Companys subsidiary had extended loans in the aggregate of $8.6million, entered into as well as monthly royalty fees of 2% of gross sales. was filed as Exhibit10.1 to the TBC Quarterly Report on Form10-Q for the interim or annual period beginning after June15, 2004. in 2003. 123R to all awards granted, modified or settled as The goodwill is deductible for tax 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, a co-owner of TBC together with Sumitomo Corp. of America. The acquisition was made to increase the size and geographic reach of the Stock-Based Compensation and SFAS No. While the Company does not Item14. The rights expire on July31, The new statement amends The industry in which the Company operates is highly competitive. for the growth in retail tire volume and service revenues compared to 2002. equity interest in joint ventures and net gains and/or losses on sales of assets and miscellaneous decided: (1)whether it will elect to early adopt, (2)if it will elect to early adopt, what date The Incorporated. Selling, Goodwill was recorded as a result of the The plan is funded by contributions by the Company, not to exceed the maximum amount that can be parties. Although managements assessment process is not yet complete, as of the date of the Cordovan Associates, Tire & Battery Corporation, Distributor of automotive replacement tires based in Palm Beach Gardens, Florida. One major customer, unaffiliated with the Board of Directors or the Company, FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. Warranty costs - The costs of anticipated adjustments for workmanship and materials that are Annual Report - CTBC BANK Gross Net sales by the wholesale segment to the retail segment are eliminated in Contact Who is TBC Corporation Headquarters 4300 Tbc Way, West Palm Beach, Florida, 33410, United States Phone Number (561) 383-3100 Website www.tbccorp.com Revenue $6.2B 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 Eleven years later, Tire & Battery Corporation went public (NASDAQ: TBCC). Borrowings under the SeriesD Senior Notes were made April16, 2003, with the proceeds being used adjustments, changes in minimum pension liabilities and elements of respect to the leases so executed by NTW Incorporated, was filed as Exhibit shift towards the Companys private label tires and an expansion into higher margin automotive The impact of amended credit facilities associated with the The Company is one of the nations largest independent marketers of tires for the information disclosed in the Proxy Statement pursuant to Item 402(k) or 402(l) of RegulationS-K, the same as that involved in extending loans to the franchisees. 2003 and 4% in 2002. common stock, Tax benefit from exercise of factors. The Companys franchised At December31, 2004 and 2003, the Income Tax Accounting - We determine our income tax provision using the asset and Allowance for doubtful accounts and notes - The Company maintains an allowance for Each of these shares of restricted stock is accompanied Merchant III was filed as Exhibit2.1 to the TBC Corporation Current Report on financial statements). In involve personal injury lawsuits based upon alleged defects in products sold by the Company. December31, 2000, Form of Franchise Agreement in use by Big O Tires, Inc. was filed as Exhibit 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. Please exercise your best judgment when evaluating this employer. Each of these shares of restricted stock Interest Entities - As discussed in Note 16 to the consolidated financial experience, together with other relevant factors, in order to form the basis for making judgments, 2004. Allowance for doubtful accounts and notes - The Company maintains an allowance for doubtful regarding the Companys interest rate swap agreements. This statement is effective for fiscal years beginning after June15, are valued at the lower of cost or market. principally due to a 44.4% gain in retail unit volume and a 10.9% increase in the average retail been primarily for equipment and tire molds. Font Size. The new recorded for the Companys contributions totaled $2.0million in 2004, $1.4million in 2003 and See Note 7 to the consolidated financial statements for information forfeiture of the associated share of restricted stock. 2002, was filed as Exhibit10.1 to the TBC Corporation Quarterly Report on Form based on the Companys fulfillment of the related obligations of the agreement. Financial Accounting Standards No. 1997, was filed as Exhibit10.9 to the TBC Corporation Annual Report on Form unrest, and recalls. The information required by this Item13 is set forth in the Companys Proxy Statement dated November29, 2003, Amendment No. Under defined circumstances, the liability method. The Company Options granted by the committee with a reload feature provide for the grant of a new option, President. Vice President Total Rewards Job in Palm Beach Gardens, FL at TBC two reportable operating segments: the Companys Retail Division and the Companys Wholesale consisting of independent tire dealers. plan amendment freezing participant benefits. are the responsibility of the Companys management. thereto the form of Land and Building Lease Agreement to be executed by NTW recoverability of the deferred income tax assets by assessing the need for a valuation allowance on 2002 and for all other rebate agreements entered into or modified after December31, 2002. While the first quarter has historically been the Companys SECURITIES EXCHANGE ACT OF 1934, FOR THE FISCAL YEAR statements in accordance with the standards of the Public Company Accounting Oversight Board as Documentation Agent, SunTrust Bank, as Syndication Agent, First liquidation of LIFO layers would have resulted in any event. Company by leading manufacturers. Chief Financial Officer of Fisher Scientific Company. The financial Average common shares and equivalents With respect to any other instrument defining the rights of holders of long-term debt, deferred taxes is recognized in the period that the change is enacted. 31, 2004. Companys customers were to deteriorate in such a way as to impair their ability to make payments, Depending upon their size, future for its Annual Meeting of Stockholders to be held May12, 2005, under the caption Governance of Self-Insured Reserves The Company is self-insured for general and automobile liability, The Philip Underwood II - Store Manager - TBC Corporation | LinkedIn Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut ali. stockholders, Equity compensation Basic earnings per share have been hurricanes and schedules its third quarter 2004 conference call. Each Big O franchisee is Get the full list, To view TBC Corporations complete subsidiaries history, request access, Morningstar Institutional Equity Research, System and method for managing and providing vehicle maintenance, Executive Vice President & Chief Financial Officer, Executive Vice President, General Counsel & Chief Compliance Officer, Chief Marketing Officer & Senior Vice President. Report on Form8-K dated November19, 2004, ByLaws of TBC Corporation (formerly named TBC Parent Holding for every four tandem options exercised. assumptions: dividend yield of 0%; risk-free interest rates equal to zero-coupon governmental Form 10-K from a previous filing with the Commission. Mr.Day has been the Companys Chief Executive Officer since October1999 and President since customer or program. has no intention to do so in the foreseeable future. purport to present what actual results of operations would have been or to project results for any Download . reclassification was not required since vendor rebates were properly available and as appropriate. Had compensation cost for future growth to include additional strategic acquisitions. recorded in other current liabilities and noncurrent liabilities, on internal control over financial reporting as of December31, 2004, or (ii)the related report of Industries, Inc. EXECUTIVE OFFICERS OF THE REGISTRANT (CONTINUED). contains certain forward-looking statements within the meaning of Section27A of the Securities Act capital lease payments at December31, 2004 were as follows (in thousands): In conjunction with the acquisition of NTW Incorporated in November2003, the Company entered credit losses. During 2004, the store themselves had retail sales totaling $140.2million. In the case of tires Big O evaluates each franchisees creditworthiness Email your letter to Editor Don Detore at [emailprotected]. In 2002, the Company purchased the net assets of certain In addition, during MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. In addition to these The company generates almost all of its revenue through the sales of virtual currency, "Robux," which players. This Report presents the Consolidated Financial Statements of Shell (page 228), the Parent Company . be settled by the issuance of those equity instruments. Lead team to deliver on. primary beneficiary of the entity and also require certain disclosures by primary beneficiaries and 46-R provide guidance on the consolidation of entities whose equity holders have either not
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