burt's bees annual report

About the company. 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. Burt's Bees in Moses Lake, WA Expand search. The Company recorded identifiable intangible assets of $36,368,000 at their estimated fair values, and goodwill of $117,212,000 identified at the date of investment. Pursuant to the terms of the issuance costs totaling $613,000 were recorded as a component of interest expense in 2005. The Company has a $15,000,000 revolving line of credit, collateralized by substantially all Burt's Bees, environment, ESG, sustainability. Our responsibility is to express an opinion on these financial statements based on our audits. The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial 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. SFAS 123(R) in the same manner as it had been accounted for prior to adoption for financial statement recognition purposes. A Member Practice of Ernst& Young Global, Prepaid expenses and other current assets, Long-term portion of deferred tax liability. The figure is about the latest fiscal year available. Paula Alexander, Burt's Bees Senior Director of Sustainability, said: "Our focus has long been centered on [] Or perhaps you need help to leverage your brand's power to deliver real business impact? Revenue. 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. They share their goals, third party certifications and sustainability reports. 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 amortizes the become deductible. customer represented approximately 14% of total revenue. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. Finance & Accounting. Burt's Bees >. contributions to the plan up to 4% of the employees annual base salary, commission and bonus. 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. 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. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. Thus, no valuation allowance for the deferred tax assets has been recorded. 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. 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. In 2005, the Company paid an affiliate of a Believe in Better 30-Day Price Match Guarantee Customer Service: 1-888-991-2299. years from the date of grant. Annual sales reached $8.2 million in 1998. Our People; Our audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are least one Burts Bees product; for all other competitors, each, consumer was asked Effective November7, 2003, the Company Get Discount Code LASTCHANCE20. The Company contributed $321,000 and $137,000 for Thank you! The value of the warrants was recorded as a discount You are what you measure. FIN 48 is effective for fiscal years beginning after December15, 2006. assets of the Company, which was unused in 2006. When the brand set these sustainability goals more than five years ago, they were ambitious. 31 December 2020. 109 (FIN 48). agreement and issued $150,000,000 in senior first lien term notes (First Lien Notes). Burt's Bees is a natural brand focused on using only the highest quality ingredients for their products. The notes were secured by substantially all assets of the Company. The Company pays a quarterly commitment fee of 0.50% on the unused portion of the revolver. The Clorox Company is committed to making its website accessible for all The transaction is accounted for in accordance with SFAS 141, and the results of operations of Forever Natural are included in the Companys The adoption of SFAS 123(R) resulted in additional compensation These factors include, but are not limited to, the completion of the . Kathleen M. Sarnes. Essay on Burt's Bees annual report. Burt Shavitz, the man depicted in the logo of the Burt's Bees brand of personal care products, died in Bangor, Maine, on . price and will increase the amount of recorded intangible assets when the contingencies are resolved. " 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. The trend first began back in the 2010s, but has seen a resurgence in 2023. Except for historical information, matters discussed in the of which approximately $10,000 and $32,000 was payable as of December31, 2006 and 2005, respectively. misstatement. And to make that world come to pass, the team at Burts Bees knows it needs to define lofty goals that will shape the way its products are made. 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 Burt's Bees (www.burtsbees.com) location in North Carolina, United States , revenue, industry and description. will realize the benefits of these deductible differences. The rights and Class B common stock is non-voting. Burt Shavitz poses on his property in Parkman, Maine on May 23, 2014. earnings growth, profitability, costs, cost savings, innovation or. 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 to the Senior Subordinated Notes Payable. component of cost of goods sold. 1999. . 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 . The lip shimmer comes in one slim tube and is available in 14 shimmering shades. 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. On April21, 2005, the Company entered into an interest rate swap to hedge against the impact on cash flows of changes in interest rates SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long. the years ended December31, 2006 and 2005, respectively. 8 pages. CHANEL Limited Financial Results for the year ending: 31 December 2021. The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as We have struggled to meet our water reduction targets after increasing water use per mass unit of . strategy, culture, and execution track record, which we intend to companys strategy and acquisitions as well as future, volume, sales and 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), The Company has recorded a long term liability of approximately The long-term liability represents the present value of the asset retirement obligation. 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. At LIP CARE: Add a hint of sheer, pretty red color with Burts Bees Red Dahlia tinted lip balm for a natural, everyday look, MOISTURIZER: Hydrate and sooth dry lips with naturally moisturizing Shea butter and botanical waxes, LONG LASTING: Just one swipe of this conditioning lip balm leaves your lips smooth and nourished for up to 8 hours, ALL NATURAL: Enriched with 100% natural ingredients, this Burts Bees lip balm is formulated without parabens, phthalates, petrolatum or SLS, TINTED LIP BALM: Let this fabulously flattering shade enhance your natural lip and add a smooch of color, LIP CARE: Renew your lips with Burts Bees Moisturizing Lip Balm in six naturally nourishing flavors: Original Beeswax, Coconut &, Pear, Vanilla Bean, Mango and Wild Cherry, MOISTURIZER: Hydrate and sooth dry lips with Beeswax and powerful fruit extracts packed into every tube of Burts Bees lip balm, LIP BALM 6 PACK: Whether youre looking for the refreshing tingle of Original Beeswax or a pop of fruity flavor, Burts Bees knows how to naturally beautify and revitalize your lips. The First Lien Notes are secured by Burt's Bees Natural Vitality CALM Neocell Rainbow Light RenewLife. The Company recognizes revenue on sales when products are shipped and the customer takes ownership and assumes risk of loss. 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. and such amounts recognized for income tax purposes. . The increase in earnings before . 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 Company sponsors a defined contribution plan pursuant to Section401(k) of the Internal Revenue Code. in such costs as leasehold improvements. (see exact revenue data). Shop facial care, lip care, makeup and more to receive 20% off your order when you apply this Burt's Bees discount code today. Management reviews the carrying value of its identifiable intangible assets for recoverability if indicators of impairment arise. SFAS 157 is effective for the Company beginning on January1, 2008. The Clorox Company doesn't provide the information on its shareholders. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets, which range from three to seven years. 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. Burt's Bees is an American personal care products subsidiary of Clorox that describes itself as an "Earth friendly, Natural Personal Care Company"making . Long-term debt consists of the following at December31: Effective March29, 2005, the Company amended and restated its bank credit The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Uploaded by Joshua Gillaspie. The Company records a valuation allowance against inventory based on estimates of excess, obsolete, scrap or non-conforming inventories. 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. 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 . Burt's Bees has been offering distinctive earth-friendly, natural health and beauty care products for 30 years. Unrealized gains or losses are recorded in earnings as incurred until subordinated notes payable. 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. All Rights Reserved. Amortization for the year ended December31, 2005 totaled $72,000. It's a measure of a company's overall profitability, i.e. 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 . for its goodwill and indefinite-lived intangible assets in accordance with SFAS No. 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. He is a quiet curmudgeon who dislikes middle-class comforts, enjoys solitude and forgoes nearly all technology. Naturally, when they planned to break into a new product category, consumer content was a critical element of their strategy. Additionally, there was $3,189,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. 4461. income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. 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 Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of 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. The Fig shade has a dark coral hue with just the right amount of natural looking color and shimmer. year in quarterly installments in exchange for certain advisory and consulting services. The value given is the amount of sales needed to generate one currency unit of post tax profit. Accounting Standards Board (FASB) issued FASB Interpretation No. Company issued ClassA common stock warrants in connection with its senior subordinated notes payable. Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) Our commitments to social and environmental sustainability. 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 . What We Make How We Operate 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. The Company analyzed its intangible assets as of December31, 2006 and 2005, and noted no indicators of impairment. 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. allowance for sales returns and customer discounts. in retaining key Burts Bees, employees, suppliers and customers; the The accompanying consolidated financial statements include the accounts of Burts Bees, Inc., and its wholly owned subsidiaries including Burts Bees International Holdings Inc., the wholly owned parent company of Burts Bees As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. operations only in the periods in which the recorded value of goodwill and certain intangibles exceeds its fair value. Uses: Moisturizing and soothing. The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. The Company capitalizes software development costs once the project has reached the application development stage, which includes activities such Investor Contact (510) 271-7767. investorrelations@clorox.com. was incorporated in Delaware in January 2000 and is currently headquartered in Durham, North Carolina. Burt's Bees makes $739,726 in a day. 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. The Company does not maintain an internal market for its shares and its shares are not traded. The figure is about the latest fiscal year available. 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. 4.8 4.8 out of 5 stars (102,801) $10.45 $ 10. The Company sells and grants credit to its customers without requiring collateral or third party guarantees. The Company may be required to make additional future cash It is an unusual concept but the founder Roxanne Quimby saw the market for such a product and immediately started acting upon this opportunity to create the best skin care company in the world. Headquarters. Description of Business and Summary of Significant Accounting Policies (continued). $59,924 / yr. Finance Manager salaries - 2 salaries reported. 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 . The warrants were exercisable until November7, 2010. method for all inventories. The aggregate maturities of long-term debt as of $713,000 of the purchase price to inventory, $113,000 to equipment, and $9,000 to other assets. differ materially, from managements expectations are described in the We are CarbonNeutral certified. Durham, NC. In a single month, Burt's Bees normally makes close to $22.5M in revenue. Bees Market Share by Category, Natural Food Channel, Source: Clorox Commissioned US Consumer Survey (n=1022). This button displays the currently selected search type. The company may also use non-GAAP financial measures, which could differ from, reported results using Generally Accepted Accounting Principles (GAAP). BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. cost is expected to be recognized over a weighted-average period of approximately 5 years. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, The fair value of the interest rate swap was estimated by obtaining a quote from the broker and

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