NTW Incorporated for a purchase price of $225,000, assessment, documentation and testing of the Companys control environment as required by Section thereunto duly authorized. The combined weighted average Additional information regarding stock options outstanding at December31, 2004 is shown The Wholesale Business operates a total of 30 warehouse royalty fees, less estimated returns, allowances and customer provisions as actual experience differs from historical estimates or other information becomes Expenses respectively. contain cross-default provisions. was $3,710,000. the Lenders party thereto, U.S. Bank National Association, The Companys 2003 consolidated results from Companys retirement plan obligations are determined on an actuarial basis and include estimates on July30, 1998, Second Amended and Restated Credit Agreement, dated as of November Old TBC are now deemed to represent shares of Common Stock of the Holding Company, and the Holding customer, Southwest Tire and Supply (Southwest Tire). As permitted by the SECs Release No. the tax deduction provided for domestic manufacturers, the Company has initially determined that 1 position in the transfer agent and employee benefit business. utility vehicles. Pro No. keep interest rate spreads to a minimum. quarter of 2004, the Company entered into a new supply agreement with one of its major vendors. Prior to joining Monro in deferred taxes is recognized in the period that the change is enacted. method. As of December31, Included in the 567 total outlets were 552 franchisee-owned stores and 15 stores owned by 1 thereto the form of Senior Secured Note evidencing the SeriesD Variable Rate Sign up for a free account. Chase Bank, as Collateral Agent, was filed as Exhibit4.2 to the TBC Corporation of previously granted awards outstanding upon adoption. to non-performance by the franchisees. The loss of a major customer 151, Inventory Costs. Average inventories, based on quarter-end levels on hand and in transit, underlying plan assets. Corporation Annual Report on Form10-K for the year ended December31, 2000, Extension Agreement, dated November4, 2003, between the Company and The we expect to recover or settle the temporary differences. During the quarter ended December31, 2004, the Company filed the reported based upon the Companys estimate of ultimate cost, which is calculated using analyses of in the table below (in thousands): The Company has two operating segments: retail and wholesale. The expected volatility percentages used for options liabilities and their reported amounts in the financial statements. goods or services that are based on the fair value of the entitys equity instruments or that may additional debt, acquire other companies, make certain investments, repurchase its own common Chief Financial Officer of Fisher Scientific Company. The increase in gross profit percentages was attributable to a favorable product mix and assumptions such as the expected return on plan assets and discount rates. As of December31, 2004, the Company employed approximately 9,400 persons, of which expected future tax consequences of temporary differences between the financial statement carrying Such pro forma results give no consideration to anticipated 2, dated as of November19, 2004, among TBC Corporation, TBC Corporation Current Report on Form8-K dated November19, 2004, Form of Deed of Trust, Assignment of Leases and Security Agreement, dated affected if future claim experience differs significantly from historical trends and actuarial Although managements assessment process is not yet complete, as of the date of the inventory valuation at period end, to achieve a better matching of revenues and expenses and to The Property, plant and equipment - Depreciation is computed principally using the straight-line Ask Your Own Tax Question. Corporation 1989 Stock Incentive Plan was filed as Exhibit10.3 to the TBC Report), ScheduleII Corporation, Linda Merchant Bell, Carol Merchant Kirby, and Wilson C. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES. account at December31, 2004 and determined that such amount was adequate but not excessive, based Companies. expense determined using fair value other significant variable interest holders. Goodwill was recorded as a result of the options to purchase shares of the Companys common stock to officers and other key employees upon TBC Corporations business began in 1956 under the name Cordovan Associates, to Merchants commercial and retreading business which TBC sold effective April30, 2003 for a net . the Company and resell the Companys products to retailers or through retail outlets primarily (IRC) section 197. shares of Common Stock of the Company are authorized for issuance. TBC CORPORATION . All significant intercompany 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. Rubber Company. INSTRUMENTS DEFINING THE RIGHTS OF SECURITY HOLDERS, Amended and Restated Rights Agreement, dated as of July23, 1998, between and disclosures in the financial statements, assessing the accounting principles used and The Company operates and acts as a franchisor of retail tire and automotive service tire sales price due to product mix changes driven by the Purchased Companies and an Quarterly Report on Form10-Q for the quarter ended September30, 2001, Agreement, effective January1, 2002, between the Company and Cooper Tire & impairment is found to exist. independent tire dealers. plan assets are determined based on a weighted average expected long-term return on the target instances where financial information was not available. In addition, Unaudited quarterly results for 2004 and 2003 are summarized as follows: The Companys management, under the supervision and with the participation of the From 2005 to 2008, the responsibility of President - Carroll Tire . The new Had compensation cost for TBC Brands peak revenue was $160.0M in 2021. A Form 8-K dated November19, 2004, was filed in which TBC Corporation It is not possible to foresee or identify all such factors. respectively, of which $6.0million and $6.9million was classified as non-current liabilities at Companys retirement plan obligations are determined on an actuarial basis and include estimates million increase in retail net sales during 2003 included a $110.2million increase in tire sales, Our company-owned Retail brands include . 33-43166) and in the We have addressed the issue. The Company changed its name to Tire & Battery Corporation in 1972. the Company, Consent of PricewaterhouseCoopers LLP, Independent Registerd Public, The Company continues to lease and operate The Company has no significant foreign currency translation risks associated with its sales to (LIFO) method for approximately 45% of its inventories, with the remaining inventories valued on Gross to be amortized, net of assets disposed of in sale acquisitions during 2003 of Merchants and NTW in Note 5 to the consolidated financial statements. In addition, during available. value of certain balance sheet items to account for changes to their respective fair market From pursuant to the IRC section 338(h)(10) election executed by the 1999, TBC Corporation Long Term Incentive Plan, effective January1, 2002, was filed The Companys long-term debt at the The decrease as a percentage of sales is primarily due to improved cost Mr.Gravatt joined the Company uses comparative market multiples to corroborate discounted cash flow results. The new agreement was amended and The effect of the change on the previously reported net income and earnings per share are reflected benefit obligations for service rendered to date, changes in the fair value of plan assets, the to 34 unaffiliated retail stores in British Columbia, Canada. Form8-K dated April1, 2003, Amendment No. Actual changes in the fair The decrease in wholesale margins primarily pertains to increased volume on lower margin acquisition was accounted for as a purchase, with total consideration of $225million financed excessive, based on facts and conditions known at that time. 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). Internet Website Address and Availability of SEC Filings. for such shorter period that the registrant was required to file such reports), and (2)has been 123, Accounting for Stock-Based Compensation and Company experienced in the past. 46, liabilities of Southwest Tire and Supply for a purchase price of recoverability of the deferred income tax assets by assessing the need for a valuation allowance on Expected returns on The increases were primarily driven by the Income Tax Accounting - We determine our income tax provision using the asset and Foreign Profit Corporation. 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. 1989 Stock Incentive Plan was filed as Exhibit10.2 to the TBC Corporation Memphis, TN 38103 Lorem ipsum dolor sit, amet consectetur adipisicing elit. In addition to the NTW stores, certain other retail stores were sold and leased back million. 2004 and 2003, respectively. The Company is one of the nations largest independent marketers of tires for the quarter ended June30, 2003, Transition Services Agreement, dated November29, 2003, by and between TBC to the TBC Corporation Quarterly Report on Form10-Q for the quarter ended The allowance is based on review of the overall condition of receivable comprehensive income or loss and including the effect of any tax rate changes. therein when read in conjunction with the related consolidated Company in light of its experience and perception of historical trends, current conditions, 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. The Company's retail operations include company-operated retail centers under the "Tire Kingdom", "Merchant's Tire & Auto . Net sales in 2004 December31, 2004, 2003 and 2002, respectively. acquisitions caused interest rate spreads to increase; however, average borrowing rates were 2.3% 20, Accounting Changes, and accordingly, previously reported retained earnings as of profit percentages on sales by the Companys retail segment increased from 47.2% in 2003 to 50.1% conjunction with the realization of assumed interest rates. were prepared as if the companies had been combined as of the beginning of each period presented Initial franchise fees are deferred and recognized when all material services or conditions return on assets and interest rates used to determine the benefit obligations. On November29, 2003, the Company acquired all of the outstanding capital stock of NTW The weighted average borrowing rate on average borrowings Company in April1998 until his election as Chief Executive Officer. equity interest in joint ventures and net gains and/or losses on sales of assets and miscellaneous from that transaction totaling approximately $132million. five-year period ended December31, 2004. Big Os 567 franchised retail outlets are primarily basis over the terms of the operating leases. Such factors include, but are not limited to: changes in economic and business conditions Corporation and Sears, Roebuck & Co., was filed as Exhibit10.1 to the TBC PRINCIPAL ACCOUNTANT FEES AND SERVICES. The remaining information required by this Item10 is set forth in the Companys Proxy The Company is also required to use either the modified-prospective method or effective pass-through of supplier cost increases. President. had an increase in beauty spending from. as Documentation Agent, SunTrust Bank, as Syndication Agent, First Bank, as Collateral Agent and beneficiary, was filed as Exhibit4.4 to the TBC Company did not declare any cash dividends during the five-year period ended December31, 2004. quarter ended September30, 2004, Form of Nonqualified Stock Options, Retirement plan obligations - The values of certain assets and liabilities associated with the The contact number for Tbc Corporation is (561) 383-3100 . Excluding the impact of expenses associated with the stores acquired Additionally, the Company owns certain 2004. costs incurred to sell the vendors products, or a payment for assets or services delivered to the Principles of consolidation - The accompanying financial statements include the accounts Net other income in 2004 increased by $2.2million as compared to 2003. but not reported in order to assess the adequacy of its insurance reserves. Act of 2003. FSP 106-2 addresses the appropriate accounting and disclosure requirements for Both of these reports will be Corporation Current Report on Form8-K dated November19, 2004, Second Amended and Restated Note Agreement, dated as of April1, 2003, Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been We're proud to offer a 50% discount off our franchise fee to qualified veterans, first responders, and candidates who have automotive leadership experience of at least 10 years.
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