What were the total current liabilities for Big O Tires in 2025?

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

Source: Item 23 — RECEIPTS (FDD pages 102–535)