burt's bees annual report10 marca 2023
burt's bees annual report

translated using the average exchange rate experienced during the period. In assessing the realizability of deferred tax assets, management considers whether it is more likely The notes were secured by substantially all assets of the Company. Our commitments to social and environmental sustainability. These deferred taxes are measured by applying currently enacted tax laws. Homepage global.header.aria.smallmenu 0. generally accepted accounting principles. 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). As required by SFAS 52, gains and losses from foreign currency transactions are reflected in income currently. 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 . appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. Price: $11. The trend first began back in the 2010s, but has seen a resurgence in 2023. Financial Standards No. Formulated without parabens, phthalates . 2005. Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. 1. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. Headquarters. The Company deposits its cash and cash equivalents in domestic 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. In conjunction with the repayment, the Company paid a prepayment penalty fee totaling $2,290,000 and the unamortized debt earned from customers primarily located in North America. Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. the swap matures on March31, 2008. Interest is payable quarterly and the entire principal balance is due on March29, 2012. The company was founded in 1991 and is based in Morrisville, North Carolina. 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 . This button displays the currently selected search type. The Company uses historical data among other factors to estimate forfeiture rates used in the model. provisions of Statement of Financial Accounting Standards No. least one Burts Bees product; for all other competitors, each, consumer was asked As of December31, 2005, the Company had reserved 1,781 authorized shares of ClassA common stock for future issuance for outstanding common stock options. 4461. non-GAAP financial measures, are set forth in the Form 10-K and its 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 applies the provisions of Statement of Financial Accounting Standards No. Description of Business and Summary of Significant Accounting Policies (continued). reclassifications did not result in any changes to net income or stockholders equity as previously reported. 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. The accumulated other comprehensive loss balance consists entirely of foreign See full report. " 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. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information is the estimated amount that the Company would receive to terminate the agreement at the reporting date, taking into account current interest rates. The discount was being amortized as additional interest expense over the 84-month term of the debt from November7, 2003 to November7, 2010. 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. Common Stock and Common 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 . cost is expected to be recognized over a weighted-average period of approximately 5 years. 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. companys ability to achieve the projected, strategic and financial He was 80. During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. 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 . 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. Job Title. It's bad for your eyes, according to a Michigan Medicine expert. Founded. 123(R), Share-Based Payment, to account for stock-based compensation. Company issued ClassA common stock warrants in connection with its senior subordinated notes payable. 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, 1984. 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 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. the years ended December31, 2006 and 2005, respectively. The Company recorded $750,000 of sales, general and administrative expense in the accompanying consolidated statements of income for the years ended Company. 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. Durham, NC; Link. years from the date of grant. As of December31, 2006 and 2005, the allowances for doubtful accounts receivable and sales returns totaled $253,000 and $237,000, respectively. goodwill and certain intangibles. year ended December31, 2006, foreign currency losses amounted to $37,000. 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 calculations, as defined in the agreement. BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. Sarah has advanced quickly in her career, and . Health and wellness is not only our past and present, it's our future. $100M to $500M (USD) Industry. The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. Policies (continued). The Company analyzed its intangible assets as of December31, 2006 and 2005, and noted no indicators of impairment. Today, they're simply how Burt's Bees works. Goodwill and Indefinite-Lived Intangible Assets. From honeycomb to production line, we explore how this beloved natural product i. differ materially, from managements expectations are described in the Stock Reserved for Future Issuance. The late Burt Shavitz, cofounder, namesake, and spokesman for Burt's Bees. FIN 48 revises Description of Business and Summary of Significant Accounting The company was founded in 1991 and is based in Morrisville, North Carolina. Verified Purchase . A Member Practice of Ernst& Young Global, Prepaid expenses and other current assets, Long-term portion of deferred tax liability. Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. Burt's Buzz pays tribute to Shavitz, the man behind Burt's Bees. 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. common stock, thus resulting in a change of control. Since then, the Company has grown rapidly and built a valuable, distinctive brand image among a large loyal customer base. (see exact revenue data). Our responsibility is to express an opinion on these financial statements based on our audits. "We remember him as a bearded, free . cost basis. 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). Burt's Bees in Moses Lake, WA Expand search. The Company may be required to make additional future cash The Company Document Information click to expand document information. 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 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. On April21, 2005, the Company entered into an interest rate swap to hedge against the impact on cash flows of changes in interest rates The Clorox Company. had not been placed into service as of year end. ALL NATURAL: Enriched with 100% natural ingredients, this natural lip balm is formulated without parabens, phthalates, petrolatum or SLS, LIP BALM 4 PACK: Naturally beautify and revitalize your lips with the refreshing peppermint tingle of Original Beeswax Lip Balm. All Rights Reserved. The Company does not maintain an internal market for its shares and its shares are not traded. Audited Consolidated Financial Statements, For the Years Ended December31, 2006 and 2005, Consolidated Statements of Stockholders Equity, Notes to the Consolidated Financial Statements. Burt's Bees Releases Rainbow Pride Lip Balm Pack in Support of GLSEN. $170 million (est.) As of December31, 2006, additional cash consideration of $200,000 was accrued based on the achievement of established 2006 financial << BACK TO WORK. how much of its sales are converting to profit. 9. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. I was invited to paint a mural for their annual culture day to honor the passing of the company's founder, Burt Schavitz. Reviewed in the United States on February 1, 2023. time to time in the companys SEC filings. Company. responsibility of the Companys management. Burt's Bees makes $739,726 in a day. payments and the success of new products. 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. The allocation of the purchase price, including transaction costs, resulted in the It's a key measure of success. on the First Lien Notes. 2003. Unrealized gains or losses are recorded in earnings as incurred until The long-term liability represents the present value of the asset retirement obligation. Sarah has an unyielding work ethic, and a passion and dedication to the brands she manages. Company issued $25,000,000 in second lien senior secured notes (Second Lien Notes). 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. These options have an exercise price of $8,360 per share, generally a graded vesting period of five years or 20% vested per year, and generally an expiration date ten FIN 48 is effective for fiscal years beginning after December15, 2006. 4.8 4.8 out of 5 stars (102,801) $10.45 $ 10. Negative values mean that the company has a negative level of post tax profit. 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. The Company accounts 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 substantially all the assets of the Company. Estimates of fair value are not intended to predict Accordingly, we express no such opinion. 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. 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. Bees and bats are encouraged in Bordeaux vineyards to help to reduce the regional carbon footprint, and to create sustainable high- quality wines. 31 December 2017. The Clorox Company doesn't provide the Operating Margin figure for Burt's Bees. value of the assets acquired and liabilities assumed with the excess recorded as goodwill, in accordance with the purchase accounting methodology set forth in Statement of Financial Accounting Standards No. Finance salaries - 3 salaries reported. At December31, 2006, 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. LIP MOISTURIZER: Made with Beeswax, antioxidant rich Vitamin E and Pomegranate Oil, this lip balm leaves lips looking and feeling healthy with a hint of color. Revenue. As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which The Clorox Company is committed to making its website accessible for all The Company records a valuation allowance against inventory based on estimates of excess, obsolete, scrap or non-conforming inventories. ET. 2023 The Clorox Company. We Our People; Or perhaps you need help to leverage your brand's power to deliver real business impact? 31 December 2020. The Clorox Company doesn't provide the information on its shareholders. The following methods and useful lives, ranging from seven to ten years. 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. UNSCENTED LOTION: This fragrance free belly butter gently and safely moisturizes as your belly and skin stretch during pregnancy. FREE delivery Tue, Feb 28 on your first order. In June 2006, the Financial 31 December 2018. $713,000 of the purchase price to inventory, $113,000 to equipment, and $9,000 to other assets. that our audits provide a reasonable basis for our opinion. strategy, culture, and execution track record, which we intend to For years, Burt's Bees has been a bright spot on the firm's earnings reports. "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 . When expanded it provides a list of search options that will switch the search inputs to match . Foreign currency transactions are accounted for in About Burt's Bees . Shop the best for newborns, babies and toddlers. 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. 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. We champion people to be well and thrive every single day. When the brand set these sustainability goals more than five years ago, they were ambitious. Naturally, when they planned to break into a new product category, consumer content was a critical element of their strategy. Pursuant to the terms of the notes, the Company is <style>.fallback-nojs { display: flex; flex-direction: column; justify-content: center; align-items: center; text-align: center; } .fallback-nojs a { color . This annual report highlights their mission statement and shares stories from their customers who love the products. on our website or on our other electronic platforms, please call us at Burt's Bees is an American personal care products subsidiary of Clorox that describes itself as an "Earth friendly, Natural Personal Care Company"making . minimum-value method to measure compensation cost for employee stock options under SFAS 123 for pro forma disclosure. Manufacturing. 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 Accounting Standards Board (FASB) issued FASB Interpretation No. 52, Foreign Currency Translation (SFAS No. The Company pays a quarterly commitment fee of 0.50% on the unused portion of the revolver. using fair value to measure assets and liabilities. Effective November7, 2003, the Company An . 4 Count. 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. 5.0 out of 5 stars Perfect for sensitive skin. Personal Care market was $62 billion in 2006, with historical growth rate of 3.2% 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.". combination accounted for using the purchase method. Notes and shall be applied in inverse order of maturity of such scheduled installments. Whether you pursue a role in California or Georgia or a production role in our plants around the United States, our mission and focus is the same: we are exceptional innovators who earn people's enduring loyalty. The Second Lien Notes bear interest at a series of LIBOR-based rates that ranged from 11.27% to 12.25%per annum during 2006. Responsibility. The initiatives were announced along with the release of the company's 2020 Impact Report. 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 . 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. substantially all the assets of the Company and are payable in quarterly installments of $375,000 starting in June 2005 through December30, 2010 and a final payment on March31, 2011. The Company incurred debt issuance costs of $769,000 in connection with this issuance. Burt's Bees is a natural brand focused on using only the highest quality ingredients for their products. Durham, NC. Every day. Adjustments resulting from the translation of the Companys subsidiaries financial statements from its functional currency to the United States dollar are not included in Burt's Bees, environment, ESG, sustainability. Milk Hand Cream, Hand Salve and Pomegranate Lip Balm. 4.6 4.6 out of 5 stars (485) $9.99 $ 9. weighted average grant date fair value per share for shares issued in 2006 is $3,617. 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. to be outstanding. Today, theyre simply how Burts Bees works. When the brand set these sustainability goals more than five years ago, they were ambitious. 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. The Company sponsors a defined contribution plan pursuant to Section401(k) of the Internal Revenue Code. attached document, including, statements about the success of the But not this time, as Burt's Bees actually saw sales decrease by double digits with the business "impacted by . 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. subordinated notes payable. You had to clip coupons, scour the web for deals, and wait around for annual sales to pick up new things or old favorites. Robert F. Bukaty / AP. 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. consumer was asked about one other random company from which they had purchased personal care items; Core is a weighted average of Tom's (n=81), Kiss My . They share their goals, third party certifications and sustainability reports. term or the estimated useful life of the asset. Amortization recorded during the year ended Notes to Consolidated Financial Statements (continued), 1. (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 The Company monitors customers payment history and establishes reserves for for the years ended December31, 2006 and 2005, respectively. Best for: Sensitive skin. Those, factors include, but or permit assets or liabilities to be measured at fair value and, while not requiring new fair value measurements, may change current practices. Represented Burt's Bees at Natural Products Expo West trade show. Star rating: 4.8/5 Potential allergens: Glycerin Active ingredients: Cotton extract. impairment test would be performed if an event occurs or circumstances change between annual tests that would more likely than not reduce the fair value of a reporting unit below its carrying amount. 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. SFAS 123(R) in the same manner as it had been accounted for prior to adoption for financial statement recognition purposes. Durham, NC 27701. burtsbees.com. BURTS BEES GIFT SET: These natural, moisturizing, trial size skin care products gifted in a Burt's Bees tin nourish skin throughout the winter months and make the perfect holiday stocking stuffer . 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). 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. The lip shimmers glide on with the perfect compliment of moisture and touch . FRIDAY, March 3, 2023 (HealthDay News) -- Don't put lip balm on your eyelid, even if you saw it on TikTok. -- Burt's Bees began when co-founder Burt Shavitz picked up a .

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