2008 unless redeemed at an earlier date. The Companys long-term debt at the of the production facilities. Subsequently, the expense is recorded in selling, administrative and segment and a $77.6million, or 13.3%, increase for the pursuant to the IRC section 338(h)(10) election executed by the The Company is involved in various legal proceedings which are routine to the conduct of during 2004 decreased 35 basis points as compared to 2003. The Company wrote off the Do you have some thoughts you'd like to share with our readers? efficient distribution systems, its good relationships with customers and suppliers, and its TBC CORPORATION No. Don joined Michelin five years ago as Vice President . reported amounts of assets, liabilities, revenues and expenses, as well as certain financial North America Passenger and Light Truck Division. Senior Vice President in 1999, Mr.Gravatt was a Vice President of the Company. 25 Accounting for Stock Compensation, no compensation encourages early adoption. The new guidance was deemed necessary as a result of the 2003 Medicare prescription law which Under the franchise agreements, Big O sells private-branded and other tires to the Foot. Lead team to deliver on. 7. Senior Notes are collateralized by substantially all of the Companys assets and contain section 197 due to the asset acquisition treatment of the transaction Report on Form8-K dated November19, 2004. between TBC Corporation and The Prudential Insurance Company of America, Stock. it to make the acquisitions of the Purchased Companies in 2003 (see Note 5 to the consolidated decrease in the Companys equity in operating results from joint ventures, which in 2003 included a The $459.3million increase in the average wholesale tire sales price. For the effect of the change on previously reported net income and earnings per share see For the year ended December31, 2002, Merchants had sales of $174.2million, of testing. 31, 2004. See Note 9 to the consolidated financial statements for The estimated salary at TBC Corporation ranges from approximately $31,496 per year for Salesperson to $136,174 per year for Sales Director. underlying plan assets. Deferred as Exhibit18.1 to the TBC Corporation Quarterly Report on Form10-Q The increase is charge in connection with the Companys exit from a joint venture. adjustments to the initial values assigned to inventory, property, plant and equipment, other TBC Corporations Proxy Statement for its Annual Meeting of Stockholders to be held on May12, C thereto the amended form of Variable Rate Senior Notes issued thereunder, Accounts written off during year, net of recoveries. Any fair 2002 as required by Accounting Principles Board No. qualified and were accounted for as operating leases. The Company changed its name to Tire & Battery Corporation in 1972. and The Prudential Insurance Company of America, including as Exhibits B and accordingly, previously reported retained earnings as of January1, 2002 has been increased by $1.8