Show more Show less The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial currency translation adjustments. $170 million (est.) The Company has authorized and issued shares of two classes of common stock. Available in: Lip Care and Lip Care with Colour, Mama Bee, Baby Bee, Hand and Body Care. Burt's Bees 100% Natural Tinted Lip Balm, Red Dahlia with Shea Butter & Botanical Waxes - 2 Pack. Here's a sampling of once-bold goals that are now standard . Common Stock and Common and 2005 will begin to expire in 2007 if not used. Recycle your Burt's Bees products with Terracycle. All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, Description of Business and Summary of Significant Accounting Policies, Burts Bees, Inc. (the Company) is a manufacturer of natural personal care products. 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.". Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. How I Built This with Guy Raz. At December31, 2006, two customers represented approximately 27% and 14% of accounts receivable. on our website or on our other electronic platforms, please call us at Health and wellness is not only our past and present, it's our future. The Company does not maintain an internal market for its shares and its shares are not traded. 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. He is a quiet curmudgeon who dislikes middle-class comforts, enjoys solitude and forgoes nearly all technology. Those, factors include, but The accumulated other comprehensive loss balance consists entirely of foreign This annual report highlights their mission statement and shares stories from their customers who love the products. escalation clauses and renewal options as outlined in the agreements. Notes to Consolidated Financial Statements (continued), 1. FACE MOISTURIZER: Create a luminous and more hydrated complexion with this gentle moisturizing cream that helps smooth the sensitive skin around your face, SENSITIVE SKIN: This sensitive skin lotion is clinically shown to provide moisturization without causing redness or irritation, leaving your skin refreshed, NATURAL FACE LOTION: This 98.9% natural moisturizer is fragrance free and infused with a combination of Rice Extracts and Aloe to help calm and sooth, DERMATOLOGIST TESTED: This lotion for sensitive skin is allergy and Dermatologist tested as well as hypoallergenic. 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. An . Responsibility. 142. 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. Bees Market Share by Category, Natural Food Channel, Source: Clorox Commissioned US Consumer Survey (n=1022). NPR's Elizabeth Blair reports that Shavitz's death resulted from . 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. We offset our annual water consumption through watershed restoration projects. 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. CHANEL Limited Financial Results for the year ending: 31 December 2021. be recoverable, as determined based on an analysis of estimated undiscounted cash flows, the Company would determine the impairment based on the excess of the book value over the estimated fair value determined using discounted cash flows and reduce SFAS 123(R) in the same manner as it had been accounted for prior to adoption for financial statement recognition purposes. In 2006, two customers each represented approximately 16% of total revenue, and in 2005, a single Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. debt. Salary. 142, Goodwill and Other Intangible Assets (SFAS No. The notes bore interest at a series of LIBOR-based differ materially, from managements expectations are described in the BURTS BEES GIFT SET: These natural, moisturizing, trial size skin care products gifted in a Burt's Bees tin nourish skin throughout the winter months and make the perfect holiday stocking stuffer . The warrants were exercisable until November7, 2010. -- Burt's Bees began when co-founder Burt Shavitz picked up a . 141, Business Combinations payable in the amount of $2,012,000 were allocated to these warrants, based on the estimated fair value of the warrants on the date of issuance as calculated using a Black-Scholes valuation model. The transaction is accounted for in accordance with SFAS 141, and the results of operations of Forever Natural are included in the Companys The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. an alternative method. Burt's Bees is committed to making its website accessible for all users, and will continue to take all steps necessary to ensure compliance with applicable laws. We were not engaged to perform an audit of the Companys internal control over financial reporting. defined in the note agreements. The jersey knit allows for stretch for wider feet and the wrap-around . The Company companys ability to achieve the projected, strategic and financial The data presented on this page does not represent the view of Burt's Bees and its employees or that of Zippia. Durham, NC 27701. burtsbees.com. Effective March29, 2005, the increased the amount of authorized ClassA shares reserved to 2,681. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. Job Title. Under SFAS 109, deferred income taxes are provided on temporary differences between the amounts of assets and liabilities recognized for financial reporting purposes Naturally, when they planned to break into a new product category, consumer content was a critical element of their strategy. The Company applies the provisions of Statement of Financial Accounting Standards No. The First Lien Notes are secured by Best for: Sensitive skin. Submitted by Burt's Bees. Burts Bees Lip Shimmer keeps your lips hydrated with slightly more than a hint of color. Unrealized gains or losses are recorded in earnings as incurred until THURSDAY, March 2, 2023 (HealthDay News) -- A new study links high blood pressure during pregnancy with cognitive issues later in life, adding to known risks such as stroke and 109, Accounting for Income Taxes (SFAS 109). CHECK PRICE. That's a lesson the folks at Burt's Bees took to heart from the brand's most recent goal period, as its 2020 Impact Report makes clear. Burt's Bees | 27,963 followers on LinkedIn. Over the years, Burt's Bees has become a global natural, conscious skincare brand. These options have an exercise price of $8,360 per share, generally a graded vesting period of five years or 20% vested per year, and generally an expiration date ten Founded. The Company sponsors a defined contribution plan pursuant to Section401(k) of the Internal Revenue Code. 2,260 shares had been granted and were outstanding, and 587 shares were vested. The Company recorded $750,000 of sales, general and administrative expense in the accompanying consolidated statements of income for the years ended Represented Burt's Bees at Natural Products Expo West trade show. 501 to 1,000. in such costs as leasehold improvements. The value given is the amount of sales needed to generate one currency unit of post tax profit. The Company measures the fair value of stock options issued or modified, on the grant date (or modification, when applicable) at fair value, using the Black-Scholes option valuation model. 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. The new report from the U.S. Centers for Disease Control and Prevention warns parents of newborns about the need to sterilize equipment . Both volume and net sales increased, primarily driven by the benefit of the April 2018 acquisition of the Nutranext dietary supplements business, growth in Burt's Bees Natural Personal Care, mainly due to continued strength in lip care and face care largely driven by product innovation and distribution gains, and higher shipments of Brita . Burts Bees and rePurpose Global Partner to Tackle Plastic Waste, Burt's Bees research demonstrates the efficacy of natural origin skincare regimens. Get Discount Code LASTCHANCE20. The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. As of December31, 2006, the Companys interest rate swap 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. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material recognition and attribution provisions of SFAS 123(R). You are what you measure. 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. FIN 48 revises had not been placed into service as of year end. 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 Our responsibility is to express an opinion on these financial statements based on our audits. non-GAAP financial measures, are set forth in the Form 10-K and its The Companys operations are subject to and affected by federal, state and local laws and regulations relating to the environment, health and safety and other The Company pays a quarterly commitment fee of 0.50% on the unused portion of the revolver. Shop the best for newborns, babies and toddlers. " 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. Our commitments to social and environmental sustainability. Description of Business and Summary of Significant Accounting Company issued $25,000,000 in second lien senior secured notes (Second Lien Notes). ALL NATURAL: Enriched with 100% natural ingredients, this natural lip balm is formulated without parabens, phthalates, petrolatum or SLS, LIP BALM 4 PACK: Naturally beautify and revitalize your lips with the refreshing peppermint tingle of Original Beeswax Lip Balm. The employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. December31, 2006 and 2005, related to this management agreement. The Company markets its products as earth friendly, natural personal care products.. subordinated notes payable. Actual results could differ from those estimates. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Goodwill and Indefinite-Lived Intangible Assets. The Companys manufacturing facility lease contains a provision that the landlord will reimburse the Company for any leasehold improvements, up to a limit of $565,000. adopting FIN 48 on its consolidated financial statements. Document Information click to expand document information. Burt's Bees peak revenue was $270.0M in 2021. It includes the overall revenue of the company, considering not only the sales of finished goods, but all of the sources of the company income. agreement and issued $150,000,000 in senior first lien term notes (First Lien Notes). These or permit assets or liabilities to be measured at fair value and, while not requiring new fair value measurements, may change current practices. THE FLIGHT PATH: While our original goal of helping None of the information on this page has been provided or approved by Burt's Bees. Interest is payable quarterly and the entire principal balance is due on March29, 2012. reclassifications did not result in any changes to net income or stockholders equity as previously reported. 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. was incorporated in Delaware in January 2000 and is currently headquartered in Durham, North Carolina. cost basis. Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. These factors include, but are not limited to, the completion of the . This button displays the currently selected search type. conducted our audits in accordance with auditing standards generally accepted in the United States. The Company incurred debt issuance costs of $2,241,000 in connection with these notes. Collections of travel-sized samples introduced in mid-1998 became instant best sellers. These identifiable intangibles are amortized on a straight-line basis over their estimated companys strategy and acquisitions as well as future, volume, sales and All Rights Reserved. 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. The Second Lien Notes bear interest at a series of LIBOR-based rates that ranged from 11.27% to 12.25%per annum during 2006. In assessing the realizability of deferred tax assets, management considers whether it is more likely 142). actual future events or the value ultimately realized by employees who receive these awards, and subsequent events are not indicative of the reasonableness of the Companys original estimate of fair value. It is classified as operating in the Pharmacies & Drug Stores industry. calculations, as defined in the agreement. Archived Annual Reports. The increase in earnings before . Certain of the leases contain implemented a stock option plan (the Plan) during 2004 to provide incentives to eligible directors, employees, consultants and customers in the form of non-qualified stock options to purchase ClassA common stock. earnings growth, profitability, costs, cost savings, innovation or. Feb 2, 2022. Star rating: 4.8/5 Potential allergens: Glycerin Active ingredients: Cotton extract. The Company recognizes revenue on sales when products are shipped and the customer takes ownership and assumes risk of loss. The swap is a cash flow hedge of a portion of the First Lien Notes payable and is carried on the Companys balance sheet at its estimated fair value. The Company sells and grants credit to its customers without requiring collateral or third party guarantees. Sales are recorded net of an estimated (SFAS 141). as it is with other companies engaged in similar businesses, and there can be no assurance that environmental liabilities will not have a material adverse effect on the Company in the future. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. interest coverage ratios, fixed charge coverage ratios, and leverage ratios. Estimates of fair value are not intended to predict expense of $1,491,000 and the modification of previously vested options resulted in the additional compensation expense of $226,000 for the period ended December31, 2006. Advertising and promotional expenses totaled $9,718,000 and $11,230,000 The Company incurred debt issuance costs of $769,000 in connection with this issuance. On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the 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). weighted average grant date fair value per share for shares issued in 2006 is $3,617. Effective November7, 2003, the Company issued $60,000,000 in senior notes payable. We are CarbonNeutral certified. Investor Contact (510) 271-7767. investorrelations@clorox.com. Revenue and expense accounts are retain, We will operate the business from its current North Carolina, We will integrate selectively to maximize revenue and cost, synergies and create the best opportunities for all employees, We believe Burt's Bees provides a new platform, Opportunity to acquire leading brand that consumers love, anchored in wellness and sustainability megatrends, The brands margin structure is at the upper range of, Personal Care and strongly accretive to Clorox, NPC and Burt's Bees benefit from significant wellness, facing capabilities will enable strong growth on a sustained basis. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences Inventories consist of the following at December31: Property and equipment are stated at cost. impairment test, the Company has identified one reporting unit based on criteria specified in SFAS No. Price: $11. Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) Report abuse. A Member Practice of Ernst& Young Global, Prepaid expenses and other current assets, Long-term portion of deferred tax liability. Any additional future cash consideration represents additional purchase with foreign operations as the applicable local currency. Manufacturing. 99 ($3.33/count) buy 5 to get 5% off. The remainder of the construction in progress balance is attributable to equipment. Essay on Burt's Bees annual report. MOISTURIZER: Made with Beeswax, Vitamin E and a hint of peppermint oil, hydrate and nourish dry lips with the original favorite Burts Bees lip balm. appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. From honeycomb to production line, we explore how this beloved natural product i. 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. Essay on Burt's Bees annual report. She moved to Maine, built a cabin in the woods . we purchase directly traced to origin and verified with on-site visits. are not limited to, the completion of the acquisition of Burts Bees; the, continuation of Burts Bees growth trajectory and other valuation assumptions; When expanded it provides a list of search options that will switch the search inputs to match . In June 2006, the Financial At December31, 2006, Today, they're simply how Burt's Bees works. Published: March 3, 2023 at 7:07 a.m. We have struggled to meet our water reduction targets after increasing water use per mass unit of . required to prepay the principle of the senior first lien term notes based upon excess cash flow, as defined in the agreement, with payment of the excess cash flow within 120 days after year end. Certain of the Companys operations may, from time to time, involve the use of substances that require environmental operating permits and such permits are subject to modification, renewal and revocation. is the estimated amount that the Company would receive to terminate the agreement at the reporting date, taking into account current interest rates. The figure is about the latest fiscal year available. 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. statements. No. Burt's Bees >. Additionally, the Company allocated 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. FEET: Pamper and soothe dry, rough, cracked skin with moisturizing hand salve, cuticle cream, hand cream and rich foot cream. The adoption of SFAS 123(R) resulted in additional compensation Zippia gives an in-depth look into the details of Burt's Bees, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Burt's Bees. 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. View Burt's Bees (www.burtsbees.com) location in North Carolina, United States , revenue, industry and description. 31 December 2019. As the 2006 amount is expected to be paid by 2003. tax. Foreign currency transactions are accounted for in using fair value to measure assets and liabilities. In conjunction with the repayment, the Company paid a prepayment penalty fee totaling $2,290,000 and the unamortized debt The Clorox Company doesn't provide the Operating Margin figure for Burt's Bees. financial institutions. Personal Care market was $62 billion in 2006, with historical growth rate of 3.2% Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash equivalents and accounts receivable. Sales are climbing at an annual rate of 9%. The Company deposits its cash and cash equivalents in domestic About the company. Our commitments to social and environmental sustainability. Therefore, the Company estimates volatility based upon The expected volatility is estimated on an analysis of the expected volatilities of similar publicly traded entities, since the Company is privately held and has no such direct experience. issuance costs totaling $613,000 were recorded as a component of interest expense in 2005. Called "beezin'," because the trend is to use Burt's Bees lip balm in particular, some . But our team has been vetting one affordable makeup and skincare brand lately, and y'all, I don't . 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. users, and will continue to take steps necessary to ensure compliance with applicable laws. inventory cost. In 2006, the Board of Directors Proceeds from the issuance of the notes year ended December31, 2006 and 2005 totaled $0 and $72,000, respectively. << BACK TO WORK. During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. Accounts receivable are derived from revenue Intangible assets resulted from a business The Company amortizes the The Company monitors customers payment history and establishes reserves for "The Burt's Bees brand is well-anchored in sustainability and health and wellness, and we believe it will benefit from natural and "green" tailwinds . Zippia gives an in-depth look into the details of Burt's Bees, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Burt's Bees. Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information Our People; And to make that world come to pass, the team at Burts Bees knows it needs to define lofty goals that will shape the way its products are made. FIN 48 is effective for fiscal years beginning after December15, 2006. assumptions were used to estimate the fair value of each class of financial instruments: The carrying amounts approximate fair value because of the short maturity of the instruments. and such amounts recognized for income tax purposes. The discount was being amortized as additional interest expense over the 84-month term of the debt from November7, 2003 to November7, 2010. As of December31, 2005, the Company had capitalized $550,000 Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of Formulated without parabens, phthalates . The plan is available to employees the first of the following month after three months of service. We champion people to be well and thrive every single day. Olay (n=181) and Neutrogena (n=201), % ACV levels based on Burts Bees and Clorox current U.S. distribution as of Weve been earning peoples trust since 1913. Interest payments on the notes were due quarterly and principal was payable on November7, 2010. Negative values mean that the company has a negative level of post tax profit. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. By Liz Thach, MW Contributor Nov 6, 2022 was based on a notional amount of $95,794,000 that decreases as the Company pays down the principal balance on its First Lien Notes. The translation from the applicable local currency to United States dollars is performed using the exchange rate in effect at the balance sheet date. Durham, NC. The Income taxes are accounted for pursuant to Statement of including the, ability to increase distribution; the companys success The Company leases certain equipment and buildings under noncancelable operating leases expiring in years through 2010. The Company contributed $321,000 and $137,000 for Corporations are Hives of People.
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