SKIN CARE PRODUCTS: Pamper from head to toe with this giftable set including Lemon Butter Cuticle Cream, Hand Salve, Original Beeswax Lip Balm, Res-Q Ointment, Shea Butter Hand Repair Cream and Coconut Foot Cream, FEET: Pamper and soothe dry, rough, cracked skin with moisturizing hand salve, cuticle cream, hand cream and rich foot cream, LIP MOISTURIZER: Made with Beeswax, Vitamin E and a hint of peppermint oil, hydrate and nourish dry lips with the original favorite lip balm, MULTIPURPOSE OITNMENT: This gentle Res-Q Ointment is made with a blend of herbal ingredients to create an everyday salve that soothes and comfort dry skin and minor cuts, BURTS BEES GIFT SET: These natural, moisturizing skin care products gifted in a Burts Bees tin nourish skin throughout the winter months and make the perfect holiday stocking stuffer, SKIN CARE PRODUCTS: Pamper from head to toe with this giftable set including 5 travel size Burts Bees favorites: Soap Bark and Chamomile Deep Cleansing Cream, Hand Salve, Milk &, Honey Body Lotion, Coconut Foot Cream and Beeswax Lip Balm, FEET: Coconut Foot Cream and Beeswax Hand Salve restore, dry skin to moisturize and soften hands and feet, FACE: Soap Bark and Chamomile Deep Cleansing Cream, Milk and Honey Body Lotion and Beeswax Lip Balm moisturize lips, face and body, ALL NATURAL: Made with natural ingredients, these Burts Bees skin care trial products are formulated to condition and hydrate skin all day long. 1984. Important factors that could cause results to Investor Contact (510) 271-7767. investorrelations@clorox.com. These deferred taxes are measured by applying currently enacted tax laws. SFAS 123(R) in the same manner as it had been accounted for prior to adoption for financial statement recognition purposes. 1-800-227-1860 so that we can provide you access through Uploaded by Joshua Gillaspie. with foreign operations as the applicable local currency. The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of Estimates of fair value are not intended to predict 99 ($3.33/count) buy 5 to get 5% off. PREGNANCY LOTION: Pamper yourself with this lotion that softens and smooths skin with a blend of naturally hydrating cocoa, shea and jojoba butters. Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. including the, ability to increase distribution; the companys success SFAS No. About Burt's Bees . All intercompany accounts and transactions have been eliminated in consolidation. least one Burts Bees product; for all other competitors, each, consumer was asked 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 The fair value of each award granted subsequent to the adoption of SFAS 123(R) was estimated on the date of grant using the Black-Scholes-Merton option-pricing model, which uses the assumptions in the following table. Certain of the leases contain The 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. None of the information on this page has been provided or approved by Burt's Bees. Personal Care market was $62 billion in 2006, with historical growth rate of 3.2% On April21, 2005, the Company entered into an interest rate swap to hedge against the impact on cash flows of changes in interest rates BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. Report of Independent Auditors . The following methods and year ended December31, 2006 and 2005 totaled $0 and $72,000, respectively. and 2005 will begin to expire in 2007 if not used. When the brand set these sustainability goals more than five years ago, they were ambitious. Additionally, there was $3,189,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. Additionally, the Company allocated The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as defined in the note agreements. As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. Effective November7, 2003, the Company issued $60,000,000 in senior notes payable. $170 million (est.) users, and will continue to take steps necessary to ensure compliance with applicable laws. Interest is payable quarterly and the entire principal balance is due on March29, 2012. 31 December 2019. 45 ($17.42/Ounce) $9.93 with Subscribe & Save discount. Burt's Bees Releases Rainbow Pride Lip Balm Pack in Support of GLSEN. Kathleen M. Sarnes. 2005. subordinated notes payable. The Company incurred debt issuance costs of $2,241,000 in connection with these notes. Founded in 1989, the Responsibility. 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 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 Amortization for the year ended December31, 2005 totaled $72,000. 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. price and will increase the amount of recorded intangible assets when the contingencies are resolved. Shavitz's likeness is featured on the Burt's Bees products. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. The expected term of options granted is derived using the simplified method and represents the period that options granted are expected 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. 4 Count. Burt Shavitz poses on his property in Parkman, Maine on May 23, 2014. Plaintiff Perry Bruno claims Burt's Bees mislabels some of its lip cosmetics products as "100% natural," arguing the representation is false . 31 December 2017. Health and wellness is not only our past and present, it's our future. In assessing the realizability of deferred tax assets, management considers whether it is more likely Burt's Bees's revenue is $270.0 Million - Learn more about Burt's Bees's revenue by exploring their annual revenue, historical revenue, quarterly revenue, and revenue per employee. Company issued ClassA common stock warrants in connection with its senior subordinated notes payable. You are what you measure. recognition and attribution provisions of SFAS 123(R). 100% (1) 100% found this document useful (1 vote) 357 views. The Company has elected to perform its annual impairment test as of December31 of each calendar year. The lip shimmer comes in one slim tube and is available in 14 shimmering shades. 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. 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. 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. 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.". The initiatives were announced along with the release of the company's 2020 Impact Report. $1.5 million+ in grants and product donations. Actual results could differ from those estimates. interest coverage ratios, fixed charge coverage ratios, and leverage ratios. issuance costs totaling $613,000 were recorded as a component of interest expense in 2005. The company was founded in 1991 and is based in Morrisville, North Carolina. Homepage global.header.aria.smallmenu 0. The discount was being amortized as additional interest expense over the 84-month term of the debt from November7, 2003 to November7, 2010. Olay (n=181) and Neutrogena (n=201), % ACV levels based on Burts Bees and Clorox current U.S. distribution as of income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. Founded. 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 . 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. Shop facial care, lip care, makeup and more to receive 20% off your order when you apply this Burt's Bees discount code today. 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 As discussed in Note 1 to the financial statements, effective January1, 2006, the Company adopted the Proceeds from the issuance of the notes Sales are recorded net of an estimated Pursuant to the terms of the notes, the Company is attached document, including, statements about the success of the 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. Negative values mean that the company has a negative level of post tax profit. Pursuant to the terms of the 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) The Company has recorded a long term liability of approximately The Company recognizes revenue on sales when products are shipped and the customer takes ownership and assumes risk of loss. (see exact revenue data). Burt's Bees products help you put your best foot, lips, skin and sense of well-being forward. The Company markets its products as earth friendly, natural personal care products.. Essay on Burt's Bees annual report. to the Senior Subordinated Notes Payable. 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. Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. accordance with Statement of Financial Accounting Standards No. years from the date of grant. year in quarterly installments in exchange for certain advisory and consulting services. And sometimes, what you measure, you become. Company. (SFAS 141). The Company capitalizes software development costs once the project has reached the application development stage, which includes activities such A tropical-smelling lip balm for daily use: Supergoop Play Lip Balm SPF 30 with Acai. increased the amount of authorized ClassA shares reserved to 2,681. Financial Standards No. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December31, 2006 and 2005 are presented below: The Companys charitable contribution carryover totaling $958,000 and $2,547,000 as of December31, 2006 View Data as Table. 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. earnings growth, profitability, costs, cost savings, innovation or. statements. 5.0 out of 5 stars Perfect for sensitive skin. Amortization expense related to the warrants for the 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 . Management reviews the carrying value of its identifiable intangible assets for recoverability if indicators of impairment arise. Income taxes are accounted for pursuant to Statement of Collections of travel-sized samples introduced in mid-1998 became instant best sellers. Thats a lesson the folks at Burts Bees took to heart from the brands most recent goal period, as its 2020 Impact Report makes clear. 45% of oils, waxes and butters. Verified Purchase . In 2006, two customers each represented approximately 16% of total revenue, and in 2005, a single Or perhaps you need help to leverage your brand's power to deliver real business impact? to excess stock-based compensation as a financing activity in its consolidated statements of cash flows. The Company recorded $750,000 of sales, general and administrative expense in the accompanying consolidated statements of income for the years ended Allowances for sales returns are recorded as reductions of accounts receivable on the balance sheet and the provision recorded as a reduction of revenue on the statement of as coding, installation of hardware, and software configuration. 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. Corporations are Hives of People. Durham, NC. Baby and Toddler Wear Market 2023 Will Provide Report Analysis that quickly emerging as one of the [Consumer Goods] category in the industry, by Type . Burts Bees Lip Shimmer keeps your lips hydrated with slightly more than a hint of color. Notes to Consolidated Financial Statements (continued), 1. 109, Accounting for Income Taxes (SFAS 109). The adoption of SFAS 123(R) resulted in additional compensation He is a quiet curmudgeon who dislikes middle-class comforts, enjoys solitude and forgoes nearly all technology. For years, Burt's Bees has been a bright spot on the firm's earnings reports. 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. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make 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. Thank you! Represented Burt's Bees at Natural Products Expo West trade show. -- Burt's Bees began when co-founder Burt Shavitz picked up a . term or the estimated useful life of the asset. Any additional future cash consideration represents additional purchase Prior to adoption, the Company used the 210 West Pettigrew Street. This prepayment permanently reduces the First Lien Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. The total cost of these transactions was approximately $174,375,000 including transaction costs and the purchase of all outstanding Class B common stock options from the option holders. Burt's Bees >. We believe A Member Practice of Ernst& Young Global, Prepaid expenses and other current assets, Long-term portion of deferred tax liability. The translation from the applicable local currency to United States dollars is performed using the exchange rate in effect at the balance sheet date. 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. Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. companys strategy and acquisitions as well as future, volume, sales and responsibility of the Companys management. Archived Annual Reports. 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. Cost is determined using the first-in, first-out FIN 48 revises 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, Accounting Standards Board (FASB) issued FASB Interpretation No. 2023 The Clorox Company. Published: March 3, 2023 at 7:07 a.m. This week on How Stuff Is Made, we discover how Burts Bees Lip Balm is made. than not that some portion or all of the deferred tax assets will not be realized. 1999. . The allocation of the purchase price, including transaction costs, resulted in the It's a measure of a company's overall profitability, i.e. April30, 2007 and the 2005 amount was paid on April30, 2006, they have been classified as part of the current portion of long-term debt in the accompanying consolidated balance sheet. Submitted by Burt's Bees. Our responsibility is to express an opinion on these financial statements based on our audits. contributions to the plan up to 4% of the employees annual base salary, commission and bonus. Effective January1, 2006, the Company 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. CHANEL Limited Financial Results for the year ending: 31 December 2021. The Clorox Company is committed to making its website accessible for all 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. The effect of the swap is to convert a portion of the interest rate on the First Lien Notes from a variable rate to a fixed rate of 3.875%. Burt Shavitz, who died at age 80, had a roadside honey stand. About the company. differ materially, from managements expectations are described in the FREE delivery Tue, Feb 28 on your first order. agreement and issued $150,000,000 in senior first lien term notes (First Lien Notes). 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 Amortization recorded during the year ended FEET: Pamper and soothe dry, rough, cracked skin with moisturizing hand salve, cuticle cream, hand cream and rich foot cream. Burt's Bees, environment, ESG, sustainability. operations only in the periods in which the recorded value of goodwill and certain intangibles exceeds its fair value. ClassA common stock has voting 4.6 4.6 out of 5 stars (485) $9.99 $ 9. 9. on the First Lien Notes. the swap matures on March31, 2008. . 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. to be outstanding. The Company 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. 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. "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 . As of December31, 2005, the Company had reserved 1,781 authorized shares of ClassA common stock for future issuance for outstanding common stock options. From a beekeeper's backyard in Maine to the leading edge of natural, Burt's Bees knows natural body care solutions from head-to-toe and operates with The Greater Good top of mind. The profit ratio measures the amount of profit generated by each single currency unit of sales. Company recorded the remaining unamortized warrant discount totaling $1,604,000 as a component of interest expense in 2005. strategy, culture, and execution track record, which we intend to Price: $11. 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. 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. Foreign currency transactions are accounted for in On August18, 2006, the Company acquired substantially all of the assets of Forever Natural, Inc., an unaffiliated international distributor for products of the 501 to 1,000. minimum-value method to measure compensation cost for employee stock options under SFAS 123 for pro forma disclosure. Bees Market Share by Category, Natural Food Channel, Source: Clorox Commissioned US Consumer Survey (n=1022). for the years ended December31, 2006 and 2005, respectively. combination accounted for using the purchase method. 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. Essay on Burt's Bees annual report. Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. Note: Revenues for privately held companies are statistical evaluations. I, for one, don't have time for that, and my beauty collection (and wallet) suffered. The increase in earnings before . The value given is the amount of sales needed to generate one currency unit of post tax profit. Responsibility. Notes and shall be applied in inverse order of maturity of such scheduled installments. Revenue and expense accounts are These factors include, but are not limited to, the completion of the . FRIDAY, March 3, 2023 (HealthDay News) -- Don't put lip balm on your eyelid, even if you saw it on TikTok. These The notes are secured by Effective November7, 2003, the Company 141, Business Combinations adopting FIN 48 on its consolidated financial statements. 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. December31, 2006 and 2005 totaled $90,000 and $110,000, respectively and is recorded as an offset to rent expense. Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of Finance & Accounting. ET. In September 2006, the FASB issued Statement of Financial Accounting Standards No. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets, which range from three to seven years. The figure is about the latest fiscal year available. The remainder of the construction in progress balance is attributable to equipment. consolidated financial statements from the date of acquisition. the carrying value accordingly. escalation clauses and renewal options as outlined in the agreements. Called "beezin'," because the trend is to use Burt's Bees lip balm in particular, some . Our commitments to social and environmental sustainability. Unrealized gains or losses are recorded in earnings as incurred until 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 does not maintain an internal market for its shares and its shares are not traded. In rights and Class B common stock is non-voting. These financial statements are the Burt's Bees has been offering distinctive earth-friendly, natural health and beauty care products for 30 years.
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