As of March 31, 2024, what financial information is available for Big O Tires?

quipment, net | $140,164 | $256,679 | The accompanying notes are an integral part of these consolidated financial statements.

(A Joint Venture of Michelin North America, Inc. and Sumitomo Corporation of Americas) Notes to Consolidated Financial Statements March 31, 2025, 2024 and 2023

(USO in thousands, unless otherwise noted)

1. Nature of Business and Basis of Presentation

Operations

TBC Holdings, LLC and subsidiaries ("Holdings" or the "Company") is one of the United States' largest independent marketers of tires for the automotive replacement market. The Company's operating activities are comprised of its franchise and wholesale divisions. The Company operates or acts as a franchisor of retail tire and automotive service centers throughout the United States of America, Canada, Europe, and other countries under the following trade names: Big O Tires ("Big O") and Midas. The Company operates as a wholesaler of tires and automotive parts primarily in the United States of America, Canada, and Mexico under the following trade names: TBC Brands, NlW, and TBC de Mexico. As of March 31, 2025, the Company had 461 franchised Big O stores, operated 147 warehouse locations, and had 1,167 Midas stores included in assets held for sale. As of March 31, 2024, the Company had effectively sold, closed, or disposed of all its retail locations and had 1,623 franchised stores and operated 149 warehouse locations. As of March 31, 2023, the Company had a total of 2,246 retail locations, consisting of 595 Companyoperated locations included in discontinued operations, 28 Company-operated locations included in continuing operations, 2 mobile operations, and 1,621 franchised stores. The Company operated 151 warehouse locations as of March 31 , 2023.

Ownership Structure

On January 2, 2018, a definitive merger agreement was entered into between Michelin North America, Inc. ("MNAI") and Sumitomo Corporation of Americas ("SCOA"), also referred to as ("Members") to fonn a joint venture under the name of TBC Holdings, LLC and Subsidiaries. The joint venture was formed through SCOA contributing TBC Corporation ("TBC") to Holdings for 50% joint venture ownership and MNAI contributing Tire Centers, LLC ("TCi"), its wholesale company, and cash for 50% joint venture ownership.

On April 5, 2018, the joint venture transaction closed, and the Members entered into an operating agreement, which provides each Member 50% of the Membership Interest in Holdings. Each Member shall be liable only to make such Member's capital contribution to the Company and certain other payments expressly provided within the operating agreement. The Company is to be managed by a joint Board of Managers (the "Board"), consisting of three designated MNAI managers and three designated SCOA managers.

Definition of Fiscal Year

As used in these consolidated financial statements and related notes to the consolidated financial statements, "Fiscal 2022," refers to the year ended March 31, 2023, "Fiscal 2023," refers to the year ended March 31, 2024, "Fiscal 2024," refers to the year ended March 31, 2025, and "Fiscal 2025", "Fiscal 2026", "Fiscal 2027" and "Fiscal 2028" refer to the years ending March 31, 2026, 2027, 2028, and 2029, respectively.

2. Summary of Significant Accounting Policies

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of TBC Holdings, LLC and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

(A Joint Venture of Michelin North America, Inc. and Sumitomo Corporation of Americas) Notes to Consolidated Financial Statements March 31, 2025, 2024 and 2023

(USD in thousands, unless otherwise noted)

Use of Estimates

The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America. The preparation of such consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses, as well as certain consolidated financial statement disclosures.

Actual results could differ from those estimates.

Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 101–102)