The expected term of options granted is derived using the simplified method and represents the period that options granted are expected Responsibility. The bad debt allowance is recorded as a reduction of accounts receivable on the balance sheet and the provision recorded for an accounting period is recognized as an increase in selling, general You had to clip coupons, scour the web for deals, and wait around for annual sales to pick up new things or old favorites. recognition and attribution provisions of SFAS 123(R). In June 2006, the Financial The Company considers many factors The company offers lip color products, such as lip gloss, lip shimmers, lip shine, tinted lip balms, and lip color bundles; and lip care products, including beeswax lip balms, lip balms, and lip treatment products. Amortization recorded during the year ended It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. In 2006, the Board of Directors increased the amount of authorized ClassA shares reserved to 2,681. Adjustments to reconcile net income to net cash provided by operating activities: Changes in operating assets and liabilities: Net cash provided by operating activities, Payment on senior subordinated notes payable, Net increase (decrease) in cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Supplemental disclosure of cash flow information, Notes to Consolidated Financial Statements, 1. Star rating: 4.8/5 Potential allergens: Glycerin Active ingredients: Cotton extract. The Company contributed $321,000 and $137,000 for Reviewed in the United States on February 1, 2023. Here are some of best sellings burts bees annual report which we would like to recommend with high customer review ratings to guide you on quality & popularity of each items. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. . In conjunction with the amendment, the Company agreed to return a portion of the facility back to its original use at the end of the lease term, May31, 2010. 142). After extensive research and analysis, Zippia's data science team found the following key financial metrics. companys ability to achieve the projected, strategic and financial It's bad for your eyes, according to a Michigan Medicine expert. The discount was being amortized as additional interest expense over the 84-month term of the debt from November7, 2003 to November7, 2010. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not the Company method for all inventories. Represented Burt's Bees at Natural Products Expo West trade show. BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. Essay on Burt's Bees annual report. We intend to, pay down debt and return to long-term target of 3.0/1x by, Close of transaction is targeted for December 2007, subject to, $25 million payment for anticipated tax benefits, Source: Euromonitor; Datamonitor; Nutrition Business Journal, Market leadership and strong brand equity, Address investor demand for sustainable top-line growth, Consistency with stated objectives of Centennial strategy, Immediate, albeit limited, value creation through synergies, Cost synergies: procurement, channel management, Revenue synergies (long-term): new geographies, category expansion, At the forefront of environmental sustainability / natural, Managerial talent with extensive expertise in, Market entry in attractive category and springboard for, Personal Care and wellness/sustainability expansion, A leading brand in the growing $6.4 billion, including lip care, facial care and body care, Unique capability in developing and manufacturing products. Today, theyre simply how Burts Bees works. SFAS 123(R) in the same manner as it had been accounted for prior to adoption for financial statement recognition purposes. Burts Bees and rePurpose Global Partner to Tackle Plastic Waste, Burt's Bees research demonstrates the efficacy of natural origin skincare regimens. Certain of the leases contain fair value, net of estimated forfeitures, over the remaining vesting term on a straight-line basis. The most (SFAS 141). At the point of loss recognition, a new lower-cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established Revenue and expense accounts are The Company accounts Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. Common Stock and Common 31 December 2018. 141, Business Combinations Burt's Bees revenue is $270.0M annually. Important factors that could cause results to The plan is available to employees the first of the following month after three months of service. And sometimes, what you measure, you become. Milk Hand Cream, Hand Salve and Pomegranate Lip Balm. consolidated financial statements from the date of acquisition. Investor Contact (510) 271-7767. investorrelations@clorox.com. SFAS 157 is effective for the Company beginning on January1, 2008. A federal judge in California has ruled against Burt's Bees' request for the dismissal of a class action lawsuit accusing it of misleadingly labeling some of its products as "100% natural.". that our audits provide a reasonable basis for our opinion. Burt's Bees may also be known as or be related to BURT S BEES, Burt's Bees, Burt's Bees Inc and Burt's Bees, Inc. Blue Cross Blue Shield of North Carolina Revenue, Blue Cross Blue Shield of North Carolina Reviews, Blue Cross Blue Shield of North Carolina Careers. The fair value of these warrants was recorded as a discount on the debt and was amortized as additional interest expense over the term of the (see exact revenue data). We champion people to be well and thrive every single day. Management reviews the carrying value of its identifiable intangible assets for recoverability if indicators of impairment arise. Effective November7, 2003, the Company As of December31, 2006, additional cash consideration of $200,000 was accrued based on the achievement of established 2006 financial The Company sponsors a defined contribution plan pursuant to Section401(k) of the Internal Revenue Code. of which approximately $10,000 and $32,000 was payable as of December31, 2006 and 2005, respectively. notes, the Company was required to prepay the principle of the senior notes based upon excess cash flow, as defined in the agreement, with payment of the excess cash flow within 120 days after year end. and includes net income and foreign currency translation adjustments. 9. View Burt's Bees (www.burtsbees.com) location in North Carolina, United States , revenue, industry and description. estimated bad debts and sales returns and allowances. cost basis. income for that period. 100% (1) 100% found this document useful (1 vote) 357 views. Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, Any additional future cash consideration represents additional purchase Description of Business and Summary of Significant Accounting Policies (continued). Get Discount Code LASTCHANCE20. accordance with the terms of the Stockholders Agreement, the Company redeemed an aggregate of 9,778 shares of ClassA common stock from the Stockholders and the Buyer purchased a majority of the Stockholders remaining ClassA 4461. 157, Fair Value Measurements (SFAS 157), to provide enhanced guidance when Burt's Bees Sustainability. Consumers who have purchased natural personal care in the last 12 months: Please rate each of the following brands on a scale of 1 to 7, where 1 is not at all, Burts Bees Has Superior Attribute Ratings, Source: Clorox Commissioned US Consumer Survey (n=1022), care products, on a scale of 1 to 7, where 1 is not at all important and 7 is extremely, Note: Burts Bees performance asked of all consumers who indicated they have purchased at All Rights Reserved. Burts Bees's Annual Report & Profile shows critical firmographic facts: Repairs and maintenance are charged to operations as incurred, and expenditures for additions and improvements that extend the useful life of the asset are capitalized. provisions of Statement of Financial Accounting Standards No. Accounting Standards Board (FASB) issued FASB Interpretation No. Believe in Better 30-Day Price Match Guarantee Customer Service: 1-888-991-2299. RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. issuance costs totaling $613,000 were recorded as a component of interest expense in 2005. The risk-free interest rate for periods within the contractual life of the option is based on the yield of the U.S. Treasury securities at the time of grant. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. conducted our audits in accordance with auditing standards generally accepted in the United States. we purchase directly traced to origin and verified with on-site visits. earnings growth, profitability, costs, cost savings, innovation or. Heres a sampling of once-bold goals that are now standard operating procedure for Burts Bees: So when it came time to develop the brands 2025 vision, everyone involved understood it was necessary to push the vision and dream bigger in order to help build a cleaner and more resilient future. In addition, the company offers body care products, including body washes and soaps, body moisturizers, and bath oils and bath crystals, as well as hand, foot, sun, and mens body care products; baby care products, including baby washes and soaps, baby moisturizers, diaper ointment and care products, and baby sun care products; and gift sets. directly, comparable GAAP financial measures and reconciliation to had not been placed into service as of year end. 210 West Pettigrew Street. exhibits furnished to the SEC, which is posted at. Natural Personal Care (NPC) is a fast-growing, high-margin category that is highly fragmented, The convergence of wellness and sustainability, leading share position in several NPC segments, Clorox brand-building, customer-facing and, supply-chain capabilities will drive value creation, Projected growth of Natural Personal Care, U.S. customer represented approximately 14% of total revenue. Burt's Bees was the leading lip balm/treatment brand in the United States in 2019, generating sales of over 140 million U.S. dollars in that year. The Company also recorded deferred rent totaling $550,000 for this lease incentive that is being amortized on a straight line basis over the remaining lease term. The Company records a valuation allowance against inventory based on estimates of excess, obsolete, scrap or non-conforming inventories. rights and Class B common stock is non-voting. Burt Shavitz, who died at age 80, had a roadside honey stand. Burt's Bees Lip Balm, Moisturizing Lip Care Valentine's Gift for Men & Women, 100% Natural, Original Beeswax with Vitamin E & Peppermint Oil 0.15OZ 4.25g 2 Tubes No reviews 780 780 1,200 1,200 (35% off) Burt's Bees peak revenue was $270.0M in 2021. These deferred taxes are measured by applying currently enacted tax laws. Foreign currency transactions are accounted for in << BACK TO WORK. This week on How Stuff Is Made, we discover how Burts Bees Lip Balm is made. sheets of Burts Bees, Inc. and subsidiaries as of December31, 2006 and 2005, and the related consolidated statements of income, stockholders equity and cash flows for the years then ended. The Company is currently assessing the impact of These factors include, but are not limited to, the completion of the . Except for historical information, matters discussed in the The company was founded in 1991 and is based in Morrisville, North Carolina. recognition of approximately $544,000 of intangible assets attributable to the anticipated future earnings and related cash flows of the customer list and distribution channel acquired from the acquisition. The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial The The Company granted 1,294 options to eligible employees and had one modification of 142 previously vested options during 2006. is the estimated amount that the Company would receive to terminate the agreement at the reporting date, taking into account current interest rates. 2023 The Clorox Company. Shop our selection of Burt's Bees natural personal care products, including skin care products, lip balms, lip colour products, soaps, lotions, natural baby products, and more. <style>.fallback-nojs { display: flex; flex-direction: column; justify-content: center; align-items: center; text-align: center; } .fallback-nojs a { color . The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of Their reports don't just focus on what they are doing well, but where they can improve. " and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's Annual Report on Form 10-K for the year ended June 30, 2007, as updated from time to time in the company's SEC filings. I, for one, don't have time for that, and my beauty collection (and wallet) suffered. Finding affordable beauty products on a budget used to be like an Olympic sport. 31 December 2019. Focused on delivering long-term investor returns through a committment to ESG. A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. for its goodwill and indefinite-lived intangible assets in accordance with SFAS No. Property and equipment consists of the following at December31: Depreciation expense totaled $2,835,000 and $1,847,000 for the years ended December31, 2006 and 2005, While on Burt's, in a short period of time, she took leadership of several projects, surpassing objectives and targets for each one of them, notably all digital activation including Facebook and e-Commerce. Our commitments to social and environmental sustainability. Following the first progress update in 2016, Burt's Bees' 2018 update focuses on progress in 11 goal areas outlined when the brand's 2020 Sustainability goals were set in 2012. 48 Accounting for Uncertainty in Income Taxes an interpretation of FASB Statement No. differ materially, from managements expectations are described in the The Company pays a quarterly commitment fee of 0.50% on the unused portion of the revolver. Prior to adoption, the Company used the users, and will continue to take steps necessary to ensure compliance with applicable laws. SFAS 157 applies whenever other pronouncements require Burt's Bees has long recognized the importance of authentic consumer-generated content, using it as a crucial component of its marketing strategy since partnering with Bazaarvoice in 2009. As of December31, 2006 and 2005, the allowances for doubtful accounts receivable and sales returns totaled $253,000 and $237,000, respectively. Burt's Bees Natural Vitality CALM Neocell Rainbow Light RenewLife. The Companys existing recorded assets and liabilities were deemed to approximate at fair value at the date of investment, and the balance sheet did not change significantly between the transaction date and December31, Over the years, Burt's Bees has become a global natural, conscious skincare brand. LIP CARE: Add a hint of sheer, pretty red color with Burts Bees Red Dahlia tinted lip balm for a natural, everyday look, MOISTURIZER: Hydrate and sooth dry lips with naturally moisturizing Shea butter and botanical waxes, LONG LASTING: Just one swipe of this conditioning lip balm leaves your lips smooth and nourished for up to 8 hours, ALL NATURAL: Enriched with 100% natural ingredients, this Burts Bees lip balm is formulated without parabens, phthalates, petrolatum or SLS, TINTED LIP BALM: Let this fabulously flattering shade enhance your natural lip and add a smooch of color, LIP CARE: Renew your lips with Burts Bees Moisturizing Lip Balm in six naturally nourishing flavors: Original Beeswax, Coconut &, Pear, Vanilla Bean, Mango and Wild Cherry, MOISTURIZER: Hydrate and sooth dry lips with Beeswax and powerful fruit extracts packed into every tube of Burts Bees lip balm, LIP BALM 6 PACK: Whether youre looking for the refreshing tingle of Original Beeswax or a pop of fruity flavor, Burts Bees knows how to naturally beautify and revitalize your lips. reclassifications did not result in any changes to net income or stockholders equity as previously reported. What We Make How We Operate the carrying value accordingly. Common stock, ClassA voting, $0.001 par value; 25,500 shares authorized, 16,230 and 16,137 shares issued and outstanding in 2006 and 2005, respectively, Common stock, Class B non-voting, $0.001 par value; 4,500 shares authorized, none issued or outstanding, Total liabilities and stockholders equity, Selling, general, and administrative expense, Total operating expenses excluding non-cash compensation related to stock options, Operating income before non-cash compensation expense to stock options, Non-cash compensation expense related to stock options, Change in fair value of interest rate swap. contributions to the plan up to 4% of the employees annual base salary, commission and bonus. An interim goodwill Bees and bats are encouraged in Bordeaux vineyards to help to reduce the regional carbon footprint, and to create sustainable high- quality wines. $59,924 / yr. Finance Manager salaries - 2 salaries reported. 5.0 out of 5 stars Perfect for sensitive skin. The company may also use non-GAAP financial measures, which could differ from, reported results using Generally Accepted Accounting Principles (GAAP). Our commitments to social and environmental sustainability. 8 pages. Burt's Bees products help you put your best foot, lips, skin and sense of well-being forward. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. The jersey knit allows for stretch for wider feet and the wrap-around . Leasehold improvements are amortized using the straight-line basis over the shorter of the lease 1984. Under FIN 48, the financial statements will reflect expected future tax consequences of such positions presuming the taxing authorities full knowledge of the position and all relevant facts, but without considering time values. using fair value to measure assets and liabilities. NATURAL SKIN CARE: This lotion for moms to be is non-irritating and 99% natural formulated without phthalates, parabens, petrolatum, or SLS. statements. Integrated Annual . companys most recent Form 10-K, filed with the SEC, as updated from least one Burts Bees product; for all other competitors, each, consumer was asked Burt's Bees lip balm targeted over 'all natural' label, The Clorox Company Signs 47-Megawatt Virtual Power Purchase Agreement, The Clorox Company today announced the launch of a new initiative to advance environmental justice. Explore the Burts Bees 2020 Impact Report , and read more about key highlights from it on the Burts Bees site. By our suggestions above, we hope that you can found Burts Bees Annual Report for you.Please dont forget to share your experience by comment in this post. Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. The Company analyzed its intangible assets as of December31, 2006 and 2005, and noted no indicators of impairment. Estimates of fair value are not intended to predict substantially all the assets of the Company and are payable in quarterly installments of $375,000 starting in June 2005 through December30, 2010 and a final payment on March31, 2011. strategy, culture, and execution track record, which we intend to Bees Market Share by Category, Natural Food Channel, Source: Clorox Commissioned US Consumer Survey (n=1022). 2003. Responsible for planning and execution of booth and managing attendees for past shows. The following methods and Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. The trend first began back in the 2010s, but has seen a resurgence in 2023. When the brand set these sustainability goals more than five years ago, they were ambitious. $94,279,000. The assumptions for the Black-Scholes-Merton model used in determining the fair value of options granted to employees for the year ended December31, 2006 were: The option-pricing model uses a forecast of the volatility of the Companys common stock during the expected The initiatives were announced along with the release of the company's 2020 Impact Report. allowance for sales returns and customer discounts. 100% organic cotton baby clothes, bedding, bath, bodysuits, rompers, jumpsuits and the ultimate baby shower gift selection. Feb 2, 2022. Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information 130), which requires the Company to report and display certain information related to comprehensive income. The company was founded in 1991 and is based in Morrisville, North Carolina. Unlike a lot of other "natural" brands Burt's Bees has transparency. Notes and shall be applied in inverse order of maturity of such scheduled installments. income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. 1999. . In assessing the realizability of deferred tax assets, management considers whether it is more likely or permit assets or liabilities to be measured at fair value and, while not requiring new fair value measurements, may change current practices. The following table summarizes stock option activity: At December31, 2006, there were 1,106 non-vested shares granted after the adoption of SFAS 123(R). In addition, the Company reimburses an affiliate of a stockholder for certain administrative costs which totaled approximately $50,000 and $89,000 in 2006 and 2005, respectively, The First Lien Notes bear interest at a series of LIBOR-based rates that ranged from 7.04% to 8.37%per annum during 2006. It was interesting to notice how Roxanne . It is an unusual concept but the founder Roxanne Quimby saw the market for such a product and immediately started acting upon this opportunity to create the best skin care company in the world. He was 80. Health and wellness is not only our past and present, it's our future. 2003, the Company issued warrants to purchase 308 shares of ClassA common stock at an exercise price of $.001 per share in connection with the issuance of the Senior Subordinated Notes Payable (Note 5). 31 December 2017. 2006 and 2005, respectively. Intangible assets resulted from a business 20,000+ livelihoods impacted Burt's Bees >. In 2005, the Company amended the plan whereby the Company will match 100% of the first 3% and 50% of the next 2% of the employee BURTS BEES GIFT SET: This gift set includes 5 favorite Burts Bees skin care products that come in a giftable box perfect for stocking stuffers during the holidays to nourish skin during the harsh winter months. This annual report highlights their mission statement and shares stories from their customers who love the products. CHANEL Limited Financial Results for the year ending: 31 December 2021. The new report from the U.S. Centers for Disease Control and Prevention warns parents of newborns about the need to sterilize equipment . Those, factors include, but N.C., Feb. 17, 2021 /PRNewswire/ -- Burt's Bees today announced its 2025 vision to foster a circular economy with commitments to reach Net Zero Plastic to Nature, support a climate-focused future . the years ended December31, 2006 and 2005, respectively. issued by the Burt's Bees Foundation to protect biodiversity and reconnect people to nature. should recognize, measure, present and disclose in its financial statements uncertain tax positions that the Company has taken or expects to take on a tax return (including a decision whether or not to file a return in a particular jurisdiction). The Clorox Company doesn't provide the information on its shareholders. payments and the success of new products. It represents the brand's turnover from the sales of finished goods through all of the distribution channels - retail, wholesale and e-commerce, after the deduction of returns, allowances for damaged or missing goods and any discounts allowed. Burt Shavitz, the man whose face is on your minty Burt's Bees lip balm and body wash, died on Sunday in Bangor, Maine. Interest payments on the notes were due quarterly and principal was payable on November7, 2010. cost is expected to be recognized over a weighted-average period of approximately 5 years. The Company markets its products as earth friendly, natural personal care products.. "We remember him as a bearded, free . $1.5 million+ in grants and product donations. In 2005, the Company paid an affiliate of a Clean: Yes. COMMUNITY OUR GOAL: Register 10,000 honeybee forage sites and 10,000 acres through partnerships of The Burt's Bees Greater Good Foundation by 2020. Note: Revenues for privately held companies are statistical evaluations. Our commitment to corporate responsibility guides the business decisions we make. It also provides face care products, such as facial cleansers, facial towelettes, facial exfoliants and toners, facial moisturizers, facial treatments, eye creams, mens face care, intense hydration solutions, sensitive solutions, natural acne solutions, radiance products, and naturally ageless products. In SFAS 157 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. misstatement. Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. Description: Essay on Burt's Bees annual report. value of the assets acquired and liabilities assumed with the excess recorded as goodwill, in accordance with the purchase accounting methodology set forth in Statement of Financial Accounting Standards No. The Company capitalizes software development costs once the project has reached the application development stage, which includes activities such was incorporated in Delaware in January 2000 and is currently headquartered in Durham, North Carolina. Founded in 1989, the As discussed in Note 8, the These notes were repaid on March29, 2005. As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. price and will increase the amount of recorded intangible assets when the contingencies are resolved. Essay on Burt's Bees annual report. 123(R), Share-Based Payment, to account for stock-based compensation. $170 million (est.) Salary. Robert F. Bukaty / AP. The Company has presented the tax benefit for deductions relating Negative values mean that the company has a negative level of post tax profit. Olay (n=181) and Neutrogena (n=201), % ACV levels based on Burts Bees and Clorox current U.S. distribution as of Shipping and handling costs related to goods received are capitalized as a component of Inventories are stated at the lower of cost or market. 45 ($17.42/Ounce) $9.93 with Subscribe & Save discount. Description of Business and Summary of Significant Accounting Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of Burt's Bees 100% Natural Tinted Lip Balm, Red Dahlia with Shea Butter & Botanical Waxes - 2 Pack. including the, ability to increase distribution; the companys success time to time in the companys SEC filings. to the Senior Subordinated Notes Payable. The Company recorded identifiable intangible assets of $36,368,000 at their estimated fair values, and goodwill of $117,212,000 identified at the date of investment. in such costs as leasehold improvements. About Burt's Bees . All intercompany accounts and transactions have been eliminated in consolidation. test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation.
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