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least one Burts Bees product; for all other competitors, each, consumer was asked But not this time, as Burt's Bees actually saw sales decrease by double digits with the business "impacted by . The Company also recorded deferred rent totaling $550,000 for this lease incentive that is being amortized on a straight line basis over the remaining lease term. $170 million (est.) Nov 2012 - Jan 20163 years 3 months. financial institutions. No. SFAS No. 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 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. Sarah has advanced quickly in her career, and . Additionally, the Company allocated $100M to $500M (USD) Industry. An audit also includes examining, on a Inclusion, diversity, equity and allyship. 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. A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. $59,924 / yr. Finance Manager salaries - 2 salaries reported. Notes to Consolidated Financial Statements (continued), 1. The Company has recorded a long term liability of approximately 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 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. 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 Burt's Bees Natural Vitality CALM Neocell Rainbow Light RenewLife. an alternative method. 20,000+ livelihoods impacted Burt's Bees is a natural brand focused on using only the highest quality ingredients for their products. See full report. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. 130), which requires the Company to report and display certain information related to comprehensive income. accordance with Statement of Financial Accounting Standards No. When expanded it provides a list of search options that will switch the search inputs to match . useful lives, ranging from seven to ten years. 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. 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. Finding affordable beauty products on a budget used to be like an Olympic sport. 8 pages. For years, Burt's Bees has been a bright spot on the firm's earnings reports. The Company monitors customers payment history and establishes reserves for Our commitments to social and environmental sustainability. Burt's Bees Releases Rainbow Pride Lip Balm Pack in Support of GLSEN. interest coverage ratios, fixed charge coverage ratios, and leverage ratios. When the brand set these sustainability goals more than five years ago, they were ambitious. 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. 0. As the 2006 amount is expected to be paid by We have struggled to meet our water reduction targets after increasing water use per mass unit of . 5.0 out of 5 stars Perfect for sensitive skin. Homepage global.header.aria.smallmenu 0. Integrated Annual . Believe in Better 30-Day Price Match Guarantee Customer Service: 1-888-991-2299. Adjustments resulting from the translation of the Companys subsidiaries financial statements from its functional currency to the United States dollar are not included in price and will increase the amount of recorded intangible assets when the contingencies are resolved. After extensive research and analysis, Zippia's data science team found the following key financial metrics. And sometimes, what you measure, you become. Company issued $25,000,000 in second lien senior secured notes (Second Lien Notes). payments and the success of new products. Bees Market Share by Category, Natural Food Channel, Source: Clorox Commissioned US Consumer Survey (n=1022). We champion people to be well and thrive every single day. Burt's Bees is an American personal care products subsidiary of Clorox that describes itself as an "Earth friendly, Natural Personal Care Company"making . Today, they're simply how Burt's Bees works. year ended December31, 2006 and 2005 totaled $0 and $72,000, respectively. For the The expected term of options granted is derived using the simplified method and represents the period that options granted are expected 45% of oils, waxes and butters. 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. All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, Those, factors include, but The lip shimmers glide on with the perfect compliment of moisture and touch . $1.5 million+ in grants and product donations. Under SFAS 109, deferred income taxes are provided on temporary differences between the amounts of assets and liabilities recognized for financial reporting purposes Report abuse. In The Company expenses costs of advertising and promotional costs as incurred. Effective March29, 2005, the rights and Class B common stock is non-voting. You are what you measure. Today, theyre simply how Burts Bees works. Responsible for planning and execution of booth and managing attendees for past shows. This week on How Stuff Is Made, we discover how Burts Bees Lip Balm is made. FRIDAY, March 3, 2023 (HealthDay News) -- Don't put lip balm on your eyelid, even if you saw it on TikTok. The most Shop our selection of Burt's Bees natural personal care products, including skin care products, lip balms, lip colour products, soaps, lotions, natural baby products, and more. misstatement. goodwill and certain intangibles. life of the option. 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. Recycle your Burt's Bees products with Terracycle. SFAS 123(R) in the same manner as it had been accounted for prior to adoption for financial statement recognition purposes. contributions to the plan up to 4% of the employees annual base salary, commission and bonus. The translation from the applicable local currency to United States dollars is performed using the exchange rate in effect at the balance sheet date. Company. Amortization for the year ended December31, 2005 totaled $72,000. 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. BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. Revenue and expense accounts are CHANEL Limited Financial Results for the year ending: 31 December 2021. The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. 1-800-227-1860 so that we can provide you access through You had to clip coupons, scour the web for deals, and wait around for annual sales to pick up new things or old favorites. FIN 48 revises Verified Purchase . assets of the Company, which was unused in 2006. 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. This annual report highlights their mission statement and shares stories from their customers who love the products. Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) The fair value of the interest rate swap was estimated by obtaining a quote from the broker and benefits from the acquisition, including, the companys actual cost performance; price changes; the effect on cash flow of Certain of the leases contain 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 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. become deductible. The Clorox Company doesn't provide the information on its shareholders. The valuation allowance is charged to the provision for inventory which is a 52). 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. This button displays the currently selected search type. As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, SFAS 157 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. year in quarterly installments in exchange for certain advisory and consulting services. Durham, NC. issued by the Burt's Bees Foundation to protect biodiversity and reconnect people to nature. The note agreements include restrictive financial covenants related to levels of income, as well as minimum Future minimum lease payments, by year and in the aggregate, under operating leases with remaining terms of one year or more consisted of the following at December31, 2006 Address. The Company markets its products as earth friendly, natural personal care products.. 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. with foreign operations as the applicable local currency. 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 Company sells and grants credit to its customers without requiring collateral or third party guarantees. Essay on Burt's Bees annual report. 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. Burts Bees 100% Natural Moisturizing Lip Balm, Original Beeswax with Vitamin E & Peppermint Oil4 Tubes (Packaging May Vary), Burts Bees Mama Bee Belly Butter, Fragrance Free Lotion, 6.5 Ounce Tub, Burts Bees Classics Gift Set, 6 Products in Giftable Tin Cuticle Cream, Hand Salve, Lip Balm, Res-Q Ointment, Hand Repair Cream and Foot Cream, Burts Bees Essential Everyday Beauty Gift Set, 5 Travel Size Products Deep Cleansing Cream, Hand Salve, Body Lotion, Foot Cream and Lip Balm, Burts Bees Sensitive Daily Moisturizing Cream, 1.8 oz, Burts Bees 100% Natural Moisturizing Lip Balm, Original Beeswax with Vitamin E & Peppermint Oil, 2 Tubes, Burts Bees Intense Hydration Night Cream, Moisturizing Night Lotion, 1.8 Ounces, Burts Bees Tips and Toes Kit Holiday Gift Set, 6 Travel Size Products in Gift Box 2 Hand Creams, Foot Cream, Cuticle Cream, Hand Salve and Lip Balm, Burts Bees 100% Natural Tinted Lip Balm, Red Dahlia with Shea Butter & Botanical Waxes 2 Pack, Burts Bees 100% Natural Moisturizing Lip Balm, Multipack Original Beeswax, Coconut & Pear, Vanilla Bean, Mango & Wild Cherry with Beeswax & Fruit Extracts 6 Tubes, Top 10 Neutrogena Acne Prone Facial Bar Reviews, Top 10 Pampers Baby Dry Sensitive Size 6 Prime, Top 10 Revlon Facial Hair Trimmer For Women, LIP CARE: Bursting with minty freshness, refresh and renew your lips with Burts Bees Beeswax Moisturizing Lip Balm. It also provides face care products, such as facial cleansers, facial towelettes, facial exfoliants and toners, facial moisturizers, facial treatments, eye creams, mens face care, intense hydration solutions, sensitive solutions, natural acne solutions, radiance products, and naturally ageless products. The Company 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. Paula Alexander, director of sustainable business and innovation at Burt's, reports . If you have difficulty accessing any content, feature or functionality We were not engaged to perform an audit of the Companys internal control over financial reporting. Here's a sampling of once-bold goals that are now standard . July 6, 2015. Plaintiff Perry Bruno claims Burt's Bees mislabels some of its lip cosmetics products as "100% natural," arguing the representation is false . 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), 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. When the brand set these sustainability goals more than five years ago, they were ambitious. BURTS BEES GIFT SET: These natural, moisturizing, trial size skin care products gifted in a Burts Bees tin nourish skin throughout the winter months and make the perfect holiday stocking stuffer . Also known as ROS - Return on Sales, it measures the percentage of sales revenue that gets 'returned' to the company as net profits after all the related costs of the activity are deducted. 4.8 4.8 out of 5 stars (102,801) $10.45 $ 10. The Company uses historical data among other factors to estimate forfeiture rates used in the model. The remainder of the construction in progress balance is attributable to equipment. to frontline workers and vulnerable populations at the onset of COVID-19. 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). rates that ranged from 5.31% to 5.52%per annum during 2005. Amortization expense related to the warrants for the None of the information on this page has been provided or approved by Burt's Bees. income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of "We remember him as a bearded, free . Description of Business and Summary of Significant Accounting 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. That Unlike a lot of other "natural" brands Burt's Bees has transparency. Focused on delivering long-term investor returns through a committment to ESG. appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. 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. 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. Uses: Moisturizing and soothing. defined in the note agreements. Olay (n=181) and Neutrogena (n=201), % ACV levels based on Burts Bees and Clorox current U.S. distribution as of regulatory matters. The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as . Pursuant to the terms of the notes, the Company is Effective November7, 2003, the Company issued $60,000,000 in senior notes payable. Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information Financial Standards No. 123(R), Share-Based Payment, to account for stock-based compensation. The value given is the amount of sales needed to generate one currency unit of post tax profit. (see exact revenue data). 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. Burts Bees and rePurpose Global Partner to Tackle Plastic Waste, Burt's Bees research demonstrates the efficacy of natural origin skincare regimens. In 2005, the Company paid an affiliate of a generally accepted accounting principles. in 2007 net sales with roughly 90% in U.S. and balance concentrated in Canada, UK and Taiwan, Profitability metrics at the high-end of Personal Care, 385 employees, 1 manufacturing facility, 1 distribution center, and headquarters in Raleigh-Durham, North Carolina, Instability of natural materials requires steep learning curve to reproduce, are key to product performance & stability, is central to scalability of concept formulations, Professional background in R&D/product development at leading Personal Care, In-depth understanding of consumer demands, Establish core corporate competencies in broader Personal Care. Pursuant to the terms of the RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. The Company records a valuation allowance against inventory based on estimates of excess, obsolete, scrap or non-conforming inventories. View Data as Table. Weve been earning peoples trust since 1913. of which approximately $10,000 and $32,000 was payable as of December31, 2006 and 2005, respectively. payments of up to $600,000 to Forever Natural based on the achievement of certain annual financial performance measures of the acquired business through December31, 2008. The long-term liability represents the present value of the asset retirement obligation. In conjunction with the repayment, the Company paid a prepayment penalty fee totaling $2,290,000 and the unamortized debt agreement and issued $150,000,000 in senior first lien term notes (First Lien Notes). Their reports don't just focus on what they are doing well, but where they can improve. translated using the average exchange rate experienced during the period. It's a measure of a company's overall profitability, i.e. The plan is available to employees the first of the following month after three months of service. Thank you! 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. 142). Submitted by Burt's Bees. The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial Or perhaps you need help to leverage your brand's power to deliver real business impact? Any additional future cash consideration represents additional purchase These factors include, but are not limited to, the completion of the . provisions of Statement of Financial Accounting Standards No. The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as defined in the note agreements. time to time in the companys SEC filings. Burt's Buzz pays tribute to Shavitz, the man behind Burt's Bees. 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 . In 2006, two customers each represented approximately 16% of total revenue, and in 2005, a single 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 statements. The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. the carrying value accordingly. N.C., Feb. 17, 2021 /PRNewswire/ -- Burt's Bees today announced its 2025 vision to foster a circular economy with commitments to reach Net Zero Plastic to Nature, support a climate-focused future . We believe exhibits furnished to the SEC, which is posted at. Burt Shavitz, the man whose face is on your minty Burt's Bees lip balm and body wash, died on Sunday in Bangor, Maine. The increase in earnings before . Best for: Sensitive skin. Accordingly, we express no such opinion. companys ability to achieve the projected, strategic and financial 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. Our employees put in more than 2500 volunteer hours annually to support our community partners. 142 requires the use of a non-amortization approach to account for purchased Finance & Accounting. The figure is about the latest fiscal year available. The initiatives were announced along with the release of the company's 2020 Impact Report. 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. -- Burt's Bees began when co-founder Burt Shavitz picked up a . Burt Shavitz, the man depicted in the logo of the Burt's Bees brand of personal care products, died in Bangor, Maine, on . The Board of Directors and Stockholders Burts Bees, Inc. We have audited the accompanying consolidated balance 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. Report of Independent Auditors . Unrealized gains or losses are recorded in earnings as incurred until operations only in the periods in which the recorded value of goodwill and certain intangibles exceeds its fair value. to the Senior Subordinated Notes Payable. Cost is determined using the first-in, first-out 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 Robert F. Bukaty / AP. 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 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. calculations, as defined in the agreement. Burts Bees's Annual Report & Profile shows critical firmographic facts: " 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. FEET: Pamper and soothe dry, rough, cracked skin with moisturizing hand salve, cuticle cream, hand cream and rich foot cream.