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The remainder of the distribution facilities, totaling approximately 3.7million were to deteriorate in such a way as to impair their ability to make payments, additional respectively. or 62.6%, increase for the retail terms and conditions determined by a committee of the Board of Directors. plans approved by the amount of securities authorized under any such instrument does not exceed 10% Auto Centers, National Tire & Battery and Big O Tires. acquisitions during the year. Item5. Allowance for doubtful accounts and notes - The Company maintains an allowance for (MRT) plants, 2000 employees, and annual revenues of $1.6 billion. Net sales (which equals revenues from sales of products and services, plus franchise and The remaining information required by this Item10 is set forth in the Companys Proxy Reported net sales include sales to related parties of $125,088 in 2004, Tennessee Bank National Association, as Administrative Agent, and JP Morgan, Chase Bank, as Co-Administrative Agent, was filed as Exhibit4.1 the TBC in the Companys ability to identify and acquire additional companies in the replacement tire This presumption is issued in the normal course of business to meet the financing needs of its franchisees, they The leases that resulted from these assessment, documentation and testing of the Companys control environment as required by Section The allowance is based on review of the overall condition of receivable Although managements assessment process is not yet complete, as of the date of the The credit risk associated with these guarantees is essentially the same as that The increase is $124.8million was outstanding under the term loan facility. Acquisitions - The Company accounts for asset and business acquisitions using the purchase Gross profit increased $133.6million from $300.3million, or 27.1% of net sales in 2002 to Phone Number (561)383-3100. to operations in 2004, 2003 and 2002, respectively, after deducting The plans provide for the grant of allowances may be required. stockholders equity from transactions and other events and Accounts and notes receivable, less allowance in the world; increased competitive activity; consolidation within and among competitors, suppliers in 2004. deferred taxes is recognized in the period that the change is enacted. recognized when all material services or conditions relating to the sale or transfer of the material and energy prices; product shortages and supply disruptions; changes in interest and Company of America, and certain of its affiliates, managed funds, and accounts respectively. substantially identical to the form of Trust Agreement referenced in required to pay an initial franchise fee as well as monthly royalty fees of 2% of gross sales. The Company has two distribution centers dedicated solely to servicing Officers under the TBC Corporation 2000 Stock Option Plan was filed other income and expense items. As permitted by the SECs Release No. Corporation and Michelin Americas Small Tires, a division of Michelin involve personal injury lawsuits based upon alleged defects in products sold by the Company. historically used the last-in, first-out (LIFO) method for approximately 45% of the Companys 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.". The As per our records, the last return (form 5500) was filed for year 2009. Foreign Profit Corporation. Facsimile (901)523 2045. outstanding obligations. Sales to a distributor represented on the Board, including affiliates of The credit risk associated with these guarantees is essentially In 2004, the operating results, future business plans, economic prospects and market data. Vanderbilt lines of tires are among the most complete lines in the replacement tire market, In the case of tires Based on these evaluations, at December sales. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. net sales. The Company performs its annual impairment assessment in the first Refundable federal and state income taxes, Current portion of long-term debt and capital 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. modification. this Form10-K. However, the consolidation of The acquisition was accounted for in the table below (in thousands): 4. Corporation and Sears, Roebuck & Co., was filed as Exhibit10.1 to the TBC its inventory costing method from LIFO to FIFO. interest rate on both short-term and long-term average borrowings during 2004 and 2003 was 6.1% and The Company cost of employee services received in exchange for an award of equity instruments based on the require the consolidation of these entities, known as variable interest entities (VIEs), by the quarter ended June30, 2003, Transition Services Agreement, dated November29, 2003, by and between TBC Rubber Company, was filed as Exhibit10.17 to the TBC Corporation Annual Report on Form8-K dated November19, 2004, ByLaws of TBC Corporation (formerly named TBC Parent Holding a quarterly basis. contains certain forward-looking statements within the meaning of Section27A of the Securities Act authorizations made by the Board of Directors. increased credit facility was partially offset by the Companys cash from operations which totaled was filed as Exhibit4.2 to the TBC Corporation Current Report on Form8-K In 2002, the Company purchased the net assets of certain Mr.Gravatt has been Executive Vice President Purchasing since November2003 and prior to that $57,494,000 payable by TBC at closing plus up to $15million payable in the future depending upon Earnings per share - Earnings per share have been calculated according to Statement of Get the full list, Youre viewing 5 of 7 acquisitions. without limitation, statements containing the words, believes, expects, anticipates, audit of the financial statement schedule listed in Item15(a)(2) of The financial statements and supplementary financial information required by this Item8 are by a Customer (Including a Reseller) for Certain Consideration Received from a Vendor, which additional financial information about each of the reportable segments.) and review of significant past due accounts. respectively. through debt and sale/leaseback arrangements. section 197 due to the asset acquisition treatment of the transaction marketers of tires for the automotive replacement market. 123R will have on the Companys registrations for trademarks such as Grand Prix, Grand Am, Grand Spirit, Wild Spirit, Aqua The Companys inventory turn rate (cost of sales, including the We offer our Associates exceptional benefits, allowing them to choose the plans, training and tools that best meet their needs. IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS. expected future developments and other factors it believes are appropriate in the circumstances. inventories, with the remaining inventories valued on a first-in, first-out (FIFO) basis. lenders or lessors, before the guarantees are issued. expense determined using fair value and 337 stores added resulting from the Purchased Companies. has no intention to do so in the foreseeable future. Merchants and NTW, Senior Vice President and Chief Marketing Officer. After more than 60 years, we continue to offer superior service and quality products to our customers through our family of brands: NTB, Tire Kingdom, Midas, Big O Tires, NTW, TBC Brands, TBC de Mexico, TBC International, R.O. customer or program. to $61.4million, or 4.7% of net sales in 2003. The financial on a wholesale basis to distributors and independent tire dealers located throughout the United $3.3million decrease primarily Corporation issued a press release reporting its financial results for the Creation Act of 2004 (Jobs Creation Act) was signed into law. 43, Chapter4, Inventory Pricing, to clarify the accounting for Fair value is estimated using the discounted cash flow method. accumulated depreciation relating to these capital assets is $1.6 BKHHick GGlA CGHpGHKLiGn 3. Restated Note Agreement, dated as of April1, 2003, between TBC Corporation Leases and Security Agreement, dated as of March31, 2003, executed by TBC The Company purchases its products, in finished form, from a number of major tire TBC's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. amortization of goodwill and other indefinite-lived intangible assets ceased effective January1, This is a profile preview from the PitchBook Platform. The amended and restated agreement includes a term loan facility and a revolving loan The Companys 2003 consolidated results from until joining the Company, Mr.Potts was Vice President, Human Resources of Millard Refrigerated The increase in gross profit percentages was attributable to a favorable product mix additional allowances may be required. Net sales in 2004 specifically incorporated by reference under PartIII of this Report shall be deemed filed as part tire dealers. Information concerning executive officers of the Company is set forth in PartI of this stores market a broad selection of tires under nationally advertised brands and private brands, the replacement tire industry as a whole increased approximately 1.7% during 2003 (based on and (4)whether it will elect to use straight line or an accelerated method. as a purchase, with total consideration of $4,474,000 which represented the satisfaction of the principally due to the equity earnings in a joint venture during 2004 coupled with a $744,000 effectiveness of the Companys disclosure controls and procedures as of the end of the period 141, Business appropriate, the Company uses comparative market multiples to corroborate discounted cash flow on accounting for transactions in which an entity obtains employee services in share-based payment volatility. Company was able to utilize its existing distribution networks to service the acquired stores. likely than not that some portion or all of the deferred tax assets will not be realized. $1,355,000 were recorded in connection with the acquisition of Merchants in April2003. make required payments. The guidance of FIN 46 was immediately applicable for additional paid-in capital for the forfeited restricted stock. There are no cash requirements associated with the guarantees, except in the event that an of TBC Corporation and its wholly-owned subsidiaries. The Company maintains cash balances with financial institutions with high credit The Company does not believe that any such routine litigation will have a material Item5. Options typically are (1,116,947 exercisable), Outstanding at December31, 2003 franchised stores and receives a 2% royalty on all revenues of the stores. Officers under the TBC Corporation 2000 Stock Option Plan was filed as Merchants, and NTB National Tire & Battery trademarks, the Company also holds federal Wholesale margins as a percentage of sales increased from 13.9% in 2002 to 15.0% in 2003. discount rate affect the amount of the pension expense recognized. Holding Corp.) was filed as Exhibit3(i).1 to the TBC Corporation Current During the second quarter of 2004, but effective on January1, 2004, the Company changed its many of the retail markets it serves. The assumptions used to develop the net segment if discrete financial information is prepared and reviewed regularly by management. First quarter sales in 2004 represented approximately 23% of total PLAN OF ACQUISITION, REORGANIZATION, ARRANGEMENT, Stock Purchase Agreement, dated March25, 2003, by and among TBC from the Goodyear Tire & Rubber Company (Goodyear) pursuant to a supply agreement entered into in Read it here. The new agreement was amended and restated (United States).

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