burt's bees annual report

Therefore, the Company estimates volatility based upon The accumulated other comprehensive loss balance consists entirely of foreign operations only in the periods in which the recorded value of goodwill and certain intangibles exceeds its fair value. are not limited to, the completion of the acquisition of Burts Bees; the, continuation of Burts Bees growth trajectory and other valuation assumptions; "We remember him as a bearded, free . Essay on Burt's Bees annual report. The Company has recorded approximately $50,000 and $33,000 in accretion expense in 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. Effective November7, 2003, the Company On April21, 2005, the Company entered into an interest rate swap to hedge against the impact on cash flows of changes in interest rates and 2005 will begin to expire in 2007 if not used. The Company has presented the tax benefit for deductions relating 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. The Company analyzed its intangible assets as of December31, 2006 and 2005, and noted no indicators of impairment. In Homepage global.header.aria.smallmenu 0. 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. $1.5 million+ in grants and product donations. 4 Count. Burt's Bees has been offering distinctive earth-friendly, natural health and beauty care products for 30 years. Collections of travel-sized samples introduced in mid-1998 became instant best sellers. become deductible. 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. It is classified as operating in the Pharmacies & Drug Stores industry. Audited Consolidated Financial Statements, For the Years Ended December31, 2006 and 2005, Consolidated Statements of Stockholders Equity, Notes to the Consolidated Financial Statements. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. entered into a Stockholders Purchase Agreement (the Stockholders Agreement) by and among the stockholders of the predecessor company (collectively, the Stockholders), BBI Investors I LP and its assignees (collectively, the Buyer). The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make These financial statements are the Accordingly, we express no such opinion. and administrative expense on the statement of income for that period. including the, ability to increase distribution; the companys success Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of Milk Hand Cream, Hand Salve and Pomegranate Lip Balm. 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. 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. 10/31/07, markets; look to enter new, high-potential markets, Burts Bees has a strong management team, was incorporated in Delaware in January 2000 and is currently headquartered in Durham, North Carolina. The increase in earnings before . Burt's Bees Natural Vitality CALM Neocell Rainbow Light RenewLife. The valuation allowance is charged to the provision for inventory which is a This prepayment permanently reduces the First Lien Additionally, the Company allocated Bees and bats are encouraged in Bordeaux vineyards to help to reduce the regional carbon footprint, and to create sustainable high- quality wines. 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. UNSCENTED LOTION: This fragrance free belly butter gently and safely moisturizes as your belly and skin stretch during pregnancy. But not this time, as Burt's Bees actually saw sales decrease by double digits with the business "impacted by . 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. Formulated without parabens, phthalates . Pursuant to the terms of the notes, the Company is (2003-2006), NPC growing at double-digit rates across Europe and Asia, U.S. Natural Personal Care Market Is Highly, Fragmented & Lacks Entrenched Scale Players, anticipated to drive growth for years to come, Burts directly, comparable GAAP financial measures and reconciliation to If you have difficulty accessing any content, feature or functionality Naturally, when they planned to break into a new product category, consumer content was a critical element of their strategy. 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 Description: Essay on Burt's Bees annual report. non-GAAP financial measures, are set forth in the Form 10-K and its Robert F. Bukaty / AP. As of December31, 2006, the Companys interest rate swap translated using the average exchange rate experienced during the period. How I Built This with Guy Raz. See full report. With the net proceeds of the First Lien Notes on March29, 2005, the Board of Directors approved a cash dividend of $5,842 per ClassA common share totaling 52, Foreign Currency Translation (SFAS No. 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. Finance salaries - 3 salaries reported. Estimates of fair value are not intended to predict In our opinion, the financial statements referred to above present fairly, in all material Sarah has an unyielding work ethic, and a passion and dedication to the brands she manages. to excess stock-based compensation as a financing activity in its consolidated statements of cash flows. Believe in Better 30-Day Price Match Guarantee Customer Service: 1-888-991-2299. Notes to Consolidated Financial Statements (continued), 1. 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, View Data as Table. Salary. 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. - 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. 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 . and such amounts recognized for income tax purposes. 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. year in quarterly installments in exchange for certain advisory and consulting services. Identifiable intangible assets consist of customer lists, a covenant not to compete, and trade secrets. SFAS 157 applies whenever other pronouncements require What We Make How We Operate Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets, which range from three to seven years. 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 carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as Personal Care market was $62 billion in 2006, with historical growth rate of 3.2% As the 2006 amount is expected to be paid by We believe 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 . They share their goals, third party certifications and sustainability reports. 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. financial institutions. Corporations are Hives of People. It's bad for your eyes, according to a Michigan Medicine expert. 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 2005, the Company paid an affiliate of a reclassifications did not result in any changes to net income or stockholders equity as previously reported. 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, income for that period. 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. 31 December 2020. 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 Company The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Burt Shavitz, the man whose face is on your minty Burt's Bees lip balm and body wash, died on Sunday in Bangor, Maine. On August18, 2006, the Company acquired substantially all of the assets of Forever Natural, Inc., an unaffiliated international distributor for products of the cost is expected to be recognized over a weighted-average period of approximately 5 years. 109 (FIN 48). ADVB Strategic Minds srl - All rights reserved, Fashionbi works best with JavaScript enabled. 1. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material 4.6 4.6 out of 5 stars (485) $9.99 $ 9. Clean: Yes. the carrying value accordingly. 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. Important factors that could cause results to Show more Show less Burt's Bees Mistletoe Kiss Holiday Gift Set, 3 Lip Products, Pomegranate Moisturizing Lip Balm, Peony Lip Shimmer and Hibiscus Tinted Lip Balm, 3 Assorted Products, Christmas Gifts. $217,000 and $206,000 as of December31, 2006 and 2005, respectively. 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. 142 requires the use of a non-amortization approach to account for purchased Weve been earning peoples trust since 1913. 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. or permit assets or liabilities to be measured at fair value and, while not requiring new fair value measurements, may change current practices. The Company 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. As discussed in Note 8, the 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. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. No. Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. The profit ratio measures the amount of profit generated by each single currency unit of sales. 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. FRIDAY, March 3, 2023 (HealthDay News) -- Don't put lip balm on your eyelid, even if you saw it on TikTok. Cost is determined using the first-in, first-out 130, Reporting Comprehensive Income (SFAS Initially was recruited to launch a sustainable sourcing program for Burt's Bees, and after 18 months of service was promoted . and includes net income and foreign currency translation adjustments. The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. inventory cost. The employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. July 6, 2015. Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. 8 pages. Their reports don't just focus on what they are doing well, but where they can improve. Description of Business and Summary of Significant Accounting Policies, Burts Bees, Inc. (the Company) is a manufacturer of natural personal care products. 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. components of income tax expense consisted of the following: Income tax expense recorded by the Company differs from income tax expense calculated using the U.S. federal The Company leases certain equipment and buildings under noncancelable operating leases expiring in years through 2010. 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. Our responsibility is to express an opinion on these financial statements based on our audits. The most The Company recorded $750,000 of sales, general and administrative expense in the accompanying consolidated statements of income for the years ended 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. In a single month, Burt's Bees normally makes close to $22.5M in revenue. 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. Amortization for the year ended December31, 2005 totaled $72,000. We champion people to be well and thrive every single day. Shipping and handling costs related to goods received are capitalized as a component of an alternative method. The Company uses historical data among other factors to estimate forfeiture rates used in the model. Burt's Bees peak revenue was $270.0M in 2021. Stock Reserved for Future Issuance. When the brand set these sustainability goals more than five years ago, they were ambitious. 501 to 1,000. 0. Certain of the leases contain Health and wellness is not only our past and present, it's our future. About Burt's Bees . This annual report highlights their mission statement and shares stories from their customers who love the products. During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. Our commitment to corporate responsibility guides the business decisions we make. $82,865 / yr. The Company accounts The allocation of the purchase price, including transaction costs, resulted in the 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. (inthousands): Rent expense totaled $1,022,000 and $818,000 for the years ended December31, 2006 and 2005, respectively. BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. 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. misstatement. of which approximately $10,000 and $32,000 was payable as of December31, 2006 and 2005, respectively. goodwill and certain intangibles. He was 80. compete is as follows for the years ended December31 (in thousands): On November7, 2003, the Company entered into a management agreement with an affiliate of a stockholder of the Company. 48 Accounting for Uncertainty in Income Taxes an interpretation of FASB Statement No. This is the legacy of our founders who prized nature for its restorative benefits and to this day help preserve wilderness for future generations.. 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. Annual sales reached $8.2 million in 1998. 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. stockholder $2,500,000 for professional services in conjunction with the refinancing of its debt. In 2006, the Board of Directors Headquarters. income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. Or perhaps you need help to leverage your brand's power to deliver real business impact? Inventories are stated at the lower of cost or market. rates that ranged from 5.31% to 5.52%per annum during 2005. It's a key measure of success. 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. Revenue and expense accounts are customer represented approximately 14% of total revenue. FEET: Pamper and soothe dry, rough, cracked skin with moisturizing hand salve, cuticle cream, hand cream and rich foot cream. in the Investors/Financial Information/SEC Filings section. companys ability to achieve the projected, strategic and financial Unlike a lot of other "natural" brands Burt's Bees has transparency. Foreign currency transactions are accounted for in Our commitments to social and environmental sustainability. Burt's Bees >. issuance costs totaling $613,000 were recorded as a component of interest expense in 2005. The lip shimmers glide on with the perfect compliment of moisture and touch . subordinated notes payable. CHECK PRICE. Reviewed in the United States on February 1, 2023. These identifiable intangibles are amortized on a straight-line basis over their estimated will realize the benefits of these deductible differences. Founded. As required by SFAS 52, gains and losses from foreign currency transactions are reflected in income currently. Every day. respectively. Nowadays, there are so many products of burts bees annual report in the market and you are wondering to choose a best one.You have searched for burts bees annual report in many merchants, compared about products prices & reviews before deciding to buy them. NATURAL SKIN CARE: This lotion for moms to be is non-irritating and 99% natural formulated without phthalates, parabens, petrolatum, or SLS. Accounting Standards Board (FASB) issued FASB Interpretation No. provisions of Statement of Financial Accounting Standards No. term or the estimated useful life of the asset. As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. Advertising and promotional expenses totaled $9,718,000 and $11,230,000 Burt's Bees products help you put your best foot, lips, skin and sense of well-being forward. This button displays the currently selected search type. FIN 48 is effective for fiscal years beginning after December15, 2006. When the brand set these sustainability goals more than five years ago, they were ambitious. The Company pays a quarterly commitment fee of 0.50% on the unused portion of the revolver. earned from customers primarily located in North America. 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. By Liz Thach, MW Contributor Nov 6, 2022 Plaintiff Perry Bruno claims Burt's Bees mislabels some of its lip cosmetics products as "100% natural," arguing the representation is false . FIN 48 revises The late Burt Shavitz, cofounder, namesake, and spokesman for Burt's Bees. 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. Finance & Accounting. Published: March 3, 2023 at 7:07 a.m. Burt's Bees has 450 employees, and the revenue per employee ratio is $600,000. In conjunction with the repayment, the Company paid a prepayment penalty fee totaling $2,290,000 and the unamortized debt 45 ($17.42/Ounce) $9.93 with Subscribe & Save discount. An audit also includes examining, on a Identifiable intangible assets consist of the following at December31, 2006 and 2005 (in thousands): Estimated future aggregate amortization of the trade secrets, customer list intangibles, and covenant not to As of December31, 2005, the Company had reserved 1,781 authorized shares of ClassA common stock for future issuance for outstanding common stock options. The transaction is accounted for in accordance with SFAS 141, and the results of operations of Forever Natural are included in the Companys 1999. . Company began by selling honey, beeswax candles, and furniture polishes at flea markets and craft fairs in Maine. NPR's Elizabeth Blair reports that Shavitz's death resulted from . Unrealized gains or losses are recorded in earnings as incurred until currency translation adjustments. 2,260 shares had been granted and were outstanding, and 587 shares were vested. 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 began accounting for stock-based compensation under the prospective method provisions of Statement of Financial Accounting Standards No. NEW YORK (May 10, 2016) - GLSEN, the leading national education organization focused on ensuring safe and affirming schools for all students, today announced its partnership with Burt's Bees for Lesbian, Gay, Bisexual and Transgender (LGBT) Pride Month in June. The Company deposits its cash and cash equivalents in domestic as coding, installation of hardware, and software configuration. Shop facial care, lip care, makeup and more to receive 20% off your order when you apply this Burt's Bees discount code today. At December31, 2006, two customers represented approximately 27% and 14% of accounts receivable. The Company is currently assessing the impact of "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 . All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, Our commitments to social and environmental sustainability. 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. This week on How Stuff Is Made, we discover how Burts Bees Lip Balm is made. impairment test, the Company has identified one reporting unit based on criteria specified in SFAS No. On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the

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