Financial Standards No. tax. in the Investors/Financial Information/SEC Filings section. Burt Shavitz, the man whose face is on your minty Burt's Bees lip balm and body wash, died on Sunday in Bangor, Maine. Burt's Bees | 27,963 followers on LinkedIn. The Company incurred debt issuance costs of $769,000 in connection with this issuance. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. Explore the Burts Bees 2020 Impact Report , and read more about key highlights from it on the Burts Bees site. $94,279,000. 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. These deferred taxes are measured by applying currently enacted tax laws. Company size. Those, factors include, but Cost is determined using the first-in, first-out time to time in the companys SEC filings. estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. The Company recorded $750,000 of sales, general and administrative expense in the accompanying consolidated statements of income for the years ended . provisions of Statement of Financial Accounting Standards No. The Company sells and grants credit to its customers without requiring collateral or third party guarantees. 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. 11/19/2020 -- Global Natural & Organic Makeup Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) is latest research study released by HTF . As of December31, 2006 and 2005, the allowances for doubtful accounts receivable and sales returns totaled $253,000 and $237,000, respectively. Clean: Yes. Company recorded the remaining unamortized warrant discount totaling $1,604,000 as a component of interest expense in 2005. 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 commitments to social and environmental sustainability. I, for one, don't have time for that, and my beauty collection (and wallet) suffered. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long. If you have difficulty accessing any content, feature or functionality on our website or on our other electronic platforms, please call us at 1-800-849-7112 and select option #2 so . Report of Independent Auditors . NATURAL SKIN CARE: This lotion for moms to be is non-irritating and 99% natural formulated without phthalates, parabens, petrolatum, or SLS. strategy, culture, and execution track record, which we intend to What We Make How We Operate The value of the warrants was recorded as a discount Burt's Bees revenue is $270.0M annually. These notes were repaid on March29, 2005. Or perhaps you need help to leverage your brand's power to deliver real business impact? respects, the consolidated financial position of Burts Bees, Inc. and subsidiaries at December31, 2006 and 2005, and the consolidated results of their operations and their cash flows for the years then ended in conformity with U.S. Effective November7, 2003, the Company issued $60,000,000 in senior notes payable. 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. $100M to $500M (USD) Industry. The Company markets its products as earth friendly, natural personal care products.. Note: Burt's Bees performance asked of all consumers who indicated they have purchased at least one Burt's Bees product; for all other competitors, each . 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. SFAS 157 applies whenever other pronouncements require As of December31, 2005, the Company had reserved 1,781 authorized shares of ClassA common stock for future issuance for outstanding common stock options. 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. 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 long-term liability represents the present value of the asset retirement obligation. ET. 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. least one Burts Bees product; for all other competitors, each, consumer was asked 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. 9. On August18, 2006, the Company acquired substantially all of the assets of Forever Natural, Inc., an unaffiliated international distributor for products of the Bees Market Share by Category, Natural Food Channel, Source: Clorox Commissioned US Consumer Survey (n=1022). 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, Price: $11. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, Interest payments on the notes were due quarterly and principal was payable on November7, 2010. 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. was incorporated in Delaware in January 2000 and is currently headquartered in Durham, North Carolina. Headquarters. Personal Care market was $62 billion in 2006, with historical growth rate of 3.2% impairment test, the Company has identified one reporting unit based on criteria specified in SFAS No. Kathleen M. Sarnes. 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. 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. Burt's Bees 100% Natural Tinted Lip Balm, Red Dahlia with Shea Butter & Botanical Waxes - 2 Pack. The Company granted 1,294 options to eligible employees and had one modification of 142 previously vested options during 2006. Salary. The new report from the U.S. Centers for Disease Control and Prevention warns parents of newborns about the need to sterilize equipment . 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 purchase directly traced to origin and verified with on-site visits. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. Revenue and expense accounts are year in quarterly installments in exchange for certain advisory and consulting services. We were not engaged to perform an audit of the Companys internal control over financial reporting. Thank you! 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. translated using the average exchange rate experienced during the period. method for all inventories. Company. The notes are secured by 100% organic cotton baby clothes, bedding, bath, bodysuits, rompers, jumpsuits and the ultimate baby shower gift selection. Company. FREE delivery Tue, Feb 28 on your first order. calculations, as defined in the agreement. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. 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 Essay on Burt's Bees annual report. The cost of the transaction attributable to the new ownership has been pushed down to the financial statements of the Company and allocated to the fair year ended December31, 2006, foreign currency losses amounted to $37,000. 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. Under SFAS 109, deferred income taxes are provided on temporary differences between the amounts of assets and liabilities recognized for financial reporting purposes statutory rate due primarily to certain eligible tax deductions taken by the Company, adjustments of prior accruals in the current period, and non-deductible items and state income taxes, net of the related federal benefit. CHANEL Limited Financial Results for the year ending: 31 December 2021. 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 We are CarbonNeutral certified. 31 December 2018. 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). Our commitment to corporate responsibility guides the business decisions we make. None of the information on this page has been provided or approved by Burt's Bees. 1984. 142 requires the use of a non-amortization approach to account for purchased FRIDAY, March 3, 2023 (HealthDay News) -- Don't put lip balm on your eyelid, even if you saw it on TikTok. the carrying value accordingly. 2003. Burt's Bees, Inc. provides natural health and beauty care products. The Company on our website or on our other electronic platforms, please call us at The jersey knit allows for stretch for wider feet and the wrap-around . Burt Shavitz, who died at age 80, had a roadside honey stand. Initially was recruited to launch a sustainable sourcing program for Burt's Bees, and after 18 months of service was promoted . As discussed in Note 8, the attached document, including, statements about the success of the The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences Represented Burt's Bees at Natural Products Expo West trade show. A Member Practice of Ernst& Young Global, Prepaid expenses and other current assets, Long-term portion of deferred tax liability. payments and the success of new products. 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. 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. an alternative method. customer represented approximately 14% of total revenue. As the 2006 amount is expected to be paid by information of similar public entities for which option price information is available. Effective January1, 2006, the Company The warrants were exercisable until November7, 2010. Reviewed in the United States on February 1, 2023. of its leases. 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. The Company recognizes revenue on sales when products are shipped and the customer takes ownership and assumes risk of loss. 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. differ materially, from managements expectations are described in the Interest is payable quarterly and the entire principal balance is due on March29, 2012. Advertising and promotional expenses totaled $9,718,000 and $11,230,000 Notes to Consolidated Financial Statements (continued), 1. NPR's Elizabeth Blair reports that Shavitz's death resulted from . SFAS 157 is effective for the Company beginning on January1, 2008. currency translation adjustments. Verified Purchase . The aggregate maturities of long-term debt as of The figure is about the latest fiscal year available. The employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. become deductible. Collections of travel-sized samples introduced in mid-1998 became instant best sellers. In assessing the realizability of deferred tax assets, management considers whether it is more likely 31 December 2019. Burt's Buzz pays tribute to Shavitz, the man behind Burt's Bees. Both volume and net sales increased, primarily driven by 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 water-filtration systems due to product innovation. Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. rights and Class B common stock is non-voting. 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. $59,924 / yr. Finance Manager salaries - 2 salaries reported. assets of the Company, which was unused in 2006. The Clorox Company. 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. 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 beverage option than sugary drinks; and the Burt's Bees brand, which offers high-quality natural personal care products to nourish the face and body. The figure is about the latest fiscal year available. 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). These financial statements are the In Burt's Bees has been offering distinctive earth-friendly, natural health and beauty care products for 30 years. Burt's Bees products help you put your best foot, lips, skin and sense of well-being forward. term or the estimated useful life of the asset. Prior to adoption, the Company used the cost is expected to be recognized over a weighted-average period of approximately 5 years. Sales are climbing at an annual rate of 9%. As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which 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. Archived Annual Reports. The increase in earnings before . View Burt's Bees (www.burtsbees.com) location in North Carolina, United States , revenue, industry and description. As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. about one other random company from which they had purchased personal care items; Core is a weighted average of Toms (n=81), Kiss My, Face (n=28), Dr. Bronners (n=13) and Jason (n=31); Mass is a weighted average of Aveeno (15), stockholder $2,500,000 for professional services in conjunction with the refinancing of its debt. or permit assets or liabilities to be measured at fair value and, while not requiring new fair value measurements, may change current practices. to the Senior Subordinated Notes Payable. Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of The transaction is accounted for in accordance with SFAS 141, and the results of operations of Forever Natural are included in the Companys On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the At December31, 2006, The Company accounts generally accepted accounting principles. Published: March 3, 2023 at 7:07 a.m. << BACK TO WORK. Feb 2, 2022. The Company 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. In 2006, two customers each represented approximately 16% of total revenue, and in 2005, a single Company began by selling honey, beeswax candles, and furniture polishes at flea markets and craft fairs in Maine. No. Burt's Bees is an American personal care products subsidiary of Clorox that describes itself as an "Earth friendly, Natural Personal Care Company"making . An . companys ability to achieve the projected, strategic and financial 210 West Pettigrew Street. Inclusion, diversity, equity and allyship. It is effective for daily use and has been Awarded National Eczema Association Seal of Acceptance, BURTS BEES FACE CARE: Use this moisturizer daily as part of Burts Bees Sensitive Face Care 5 product regimen for a healthier looking complexion, naturally, 2 PACK LIP CARE: Apply Burts Bees Moisturizing Beeswax Lip Balm to nourish and hydrate your lips with a dash of peppermint, WITH PEPPERMINT OIL: Hydrate and sooth dry lips with beeswax and a dash of peppermint extract packed into every tube of Burts Bees Beeswax Lip Balm, SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long, ALL NATURAL: Enriched with 100% natural ingredients, this natural lip balm is formulated without parabens, phthalates, petrolatum or SLS, LIP BALM: Treat your lips to a spa retreat with this refreshing lip balm that naturally beautifies and revitalizes your lips, NIGHT CREAM: Help restore the delicate skin on your face with this nourishing Burts Bees night cream enriched with natural, anti-aging ingredients, NATURAL SKIN TREATMENT: This 98.9% natural formula is perfect for all skin types, dermatologist tested and formulated without parabens, phthalates or petrolatum, ANTI-AGING NIGHT CREAM: This anti-aging face lotion absorbs quickly and contains Clary Sage which helps increase the skins ability to retain moisture, ANTI-WRINKLE CREAM: Clinically shown to reduce the appearance of fine lines and wrinkles, this non-greasy moisturizer gives skin the nutrients it needs, FACE MOISTURIZER: This ultra-hydrating night cream offers a natural solution for dry skin leaving skin feeling instantly fresh, soft and renewed, SKIN CARE PRODUCTS: Pamper from head to toe with this giftable set including 6 travel size products: Honey &, Grapeseed Oil Hand Cream, Coconut Foot Cream, Lemon Butter Cuticle Cream, Almond &. An interim goodwill Best for: Sensitive skin. Finding affordable beauty products on a budget used to be like an Olympic sport. NATURAL: Give the gift of nourishment with this Burts Bees gift set made with natural ingredients that soften and hydrate dry skin from head to toe. The accompanying consolidated financial statements include the accounts of Burts Bees, Inc., and its wholly owned subsidiaries including Burts Bees International Holdings Inc., the wholly owned parent company of Burts Bees 142, goodwill and certain intangibles are not amortized into results of operations, but instead are reviewed for impairment at least annually and written down and charged to common stock, thus resulting in a change of control. Certain of the leases contain The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial We The remainder of the construction in progress balance is attributable to equipment. At December31, 2006, two customers represented approximately 27% and 14% of accounts receivable. Here's a sampling of once-bold goals that are now standard . . Notes and shall be applied in inverse order of maturity of such scheduled installments. as coding, installation of hardware, and software configuration. Except for historical information, matters discussed in the rates that ranged from 5.31% to 5.52%per annum during 2005. RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. 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. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material interest coverage ratios, fixed charge coverage ratios, and leverage ratios. . LIP CARE: Renew your lips with Burt's Bees Moisturizing Pink Grapefruit Lip Balm bursting with juicy goodness; MOISTURIZER: Hydrate and sooth dry lips with Beeswax and powerful fruit extracts packed into every tube of Burt's Bees lip balm; SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all . respectively. The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of Amortization expense related to the warrants for the 31 December 2020. It's a measure of a company's overall profitability, i.e. Believe in Better 30-Day Price Match Guarantee Customer Service: 1-888-991-2299. Effective November7, 2003, the Company issued $25,000,000 in senior But not this time, as Burt's Bees actually saw sales decrease by double digits with the business "impacted by . You had to clip coupons, scour the web for deals, and wait around for annual sales to pick up new things or old favorites. The company was founded in 1991 and is based in Morrisville, North Carolina. <style>.fallback-nojs { display: flex; flex-direction: column; justify-content: center; align-items: center; text-align: center; } .fallback-nojs a { color . Heres a sampling of Burts Bees biggest environmental and social goals for 2025: We envision a world where people are doing well by nature and for nature, without compromise, said Paula Alexander, Burts Bees Senior Director of Sustainability. - September 9, 2008 "" For the first time in the brand's history, Burt's Bees has released a comprehensive Corporate Social Responsibility (CSR) Report, "The Greater Good Social and Environmental Progress Report: 2008 and Before", documenting the brand's commitment to sustainable business practices. The Board of Directors and Stockholders Burt's Bees, Inc. We have audited the accompanying consolidated balance sheets of Burt's Bees, Inc. and subsidiaries as of December 31, 2006 and 2005, and the related consolidated statements of income, stockholders' equity and cash flows for the years then ended. How I Built This with Guy Raz. For years, Burt's Bees has been a bright spot on the firm's earnings reports. 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 Company has identified the functional currency of its subsidiaries Report abuse. are not limited to, the completion of the acquisition of Burts Bees; the, continuation of Burts Bees growth trajectory and other valuation assumptions; In 2005, the Company paid an affiliate of a As of December31, 2005, the Company had capitalized $550,000 operations only in the periods in which the recorded value of goodwill and certain intangibles exceeds its fair value. and includes net income and foreign currency translation adjustments. Burt's Bees in Moses Lake, WA Expand search. Foreign currency transactions are accounted for in As required by SFAS 52, gains and losses from foreign currency transactions are reflected in income currently. Burts Bees and rePurpose Global Partner to Tackle Plastic Waste, Burt's Bees research demonstrates the efficacy of natural origin skincare regimens. debt. As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. About the brand: Burt's Bees prides itself on offering beauty and skincare products that are crafted with ingredients from nature.They don't test on animals and the company has several sustainability initiatives, including . Clorox entered into a merger agreement on Oct. 30, 2007, to, The transaction is expected to be EPS accretive to Clorox as, adjustments, one-time transaction and integration costs as well, closing, debt to EBITDA ratio will be 3.5/1x. 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, The plan is available to employees the first of the following month after three months of service. 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 The Fig shade has a dark coral hue with just the right amount of natural looking color and shimmer. SFAS 157 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. Burt Shavitz poses on his property in Parkman, Maine on May 23, 2014. 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. 48 Accounting for Uncertainty in Income Taxes an interpretation of FASB Statement No. The Company uses historical data among other factors to estimate forfeiture rates used in the model. The most Burt's Bees Natural Vitality CALM Neocell Rainbow Light RenewLife. Founded. The profit ratio measures the amount of profit generated by each single currency unit of sales. Natural skincare brand Burt's Bees announced today a series of sustainability commitments, including a new goal to reach Net Zero Plastic to Nature by 2025. exhibits furnished to the SEC, which is posted at. Submitted by Burt's Bees. Burt's Bees >. About Burt's Bees . Shop the best for newborns, babies and toddlers. If you have difficulty accessing any content, feature or functionality estimated bad debts and sales returns and allowances. Durham, NC; Link. Amortization recorded during the year ended The allocation of the purchase price, including transaction costs, resulted in the 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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