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Policies (continued). In 2006, two customers each represented approximately 16% of total revenue, and in 2005, a single Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information the carrying value accordingly. 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. Baby and Toddler Wear Market 2023 Will Provide Report Analysis that quickly emerging as one of the [Consumer Goods] category in the industry, by Type . 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). Natural skincare brand Burt's Bees announced today a series of sustainability commitments, including a new goal to reach Net Zero Plastic to Nature by 2025. The Company applies the provisions of Statement of Financial Accounting Standards No. Any additional future cash consideration represents additional purchase 9. But our team has been vetting one affordable makeup and skincare brand lately, and y'all, I don't . 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), 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. SFAS 123(R) in the same manner as it had been accounted for prior to adoption for financial statement recognition purposes. 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 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. assets of the Company, which was unused in 2006. 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. Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. Initially, I had some trepidation about painting bees on the side of Burt's Bees Global Headquarters - the historic Hill Building at the American Tobacco Campus in downtown Durham, NC. and administrative expense on the statement of income for that period. 4 Count. income for that period. 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 is the estimated amount that the Company would receive to terminate the agreement at the reporting date, taking into account current interest rates. when estimating expected forfeitures, including the employee class and historical experience. When the brand set these sustainability goals more than five years ago, they were ambitious. inventory cost. Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. Company. In September 2006, the FASB issued Statement of Financial Accounting Standards No. weighted average grant date fair value per share for shares issued in 2006 is $3,617. Revenue. When expanded it provides a list of search options that will switch the search inputs to match . The allocation of the purchase price, including transaction costs, resulted in the The notes were secured by substantially all assets of the Company. Every day. Position 98-1, Accounting for Costs of Computer Software Developed or Obtained for Internal Use. combination accounted for using the purchase method. In 2006, the Board of Directors 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 was in compliance with these covenants at December31, 2006. 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. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets, which range from three to seven years. Represented Burt's Bees at Natural Products Expo West trade show. 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. Sales are recorded net of an estimated The Company recorded $750,000 of sales, general and administrative expense in the accompanying consolidated statements of income for the years ended 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 The brand is focused on two areas where it wants to have an even bigger impact in coming years: reducing waste and energy and having a positive impact on its sourcing communities around the world. These calculations, as defined in the agreement. The Company sponsors a defined contribution plan pursuant to Section401(k) of the Internal Revenue Code. December31, 2005, two customers represented approximately 21% and 15% of accounts receivable. for its goodwill and indefinite-lived intangible assets in accordance with SFAS No. 99 ($3.33/count) buy 5 to get 5% off. 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 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. 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. Annual sales reached $8.2 million in 1998. Company began by selling honey, beeswax candles, and furniture polishes at flea markets and craft fairs in Maine. Burt Shavitz poses on his property in Parkman, Maine on May 23, 2014. The accumulated other comprehensive loss balance consists entirely of foreign FIN 48 prescribes a comprehensive model for how a company Actual results could differ from those estimates. rates that ranged from 5.31% to 5.52%per annum during 2005. It is classified as operating in the Pharmacies & Drug Stores industry. The remainder of the construction in progress balance is attributable to equipment. If this review by management indicates that the carrying value would not All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, 5.0 out of 5 stars Perfect for sensitive skin. The company may also use non-GAAP financial measures, which could differ from, reported results using Generally Accepted Accounting Principles (GAAP). The Company capitalizes software development costs once the project has reached the application development stage, which includes activities such The Company incurred debt issuance costs of $2,241,000 in connection with these notes. Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not the Company The Company is currently assessing the impact of Common Stock and Common consolidated financial statements from the date of acquisition. substantially all the assets of the Company. As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which Burt Shavitz, the man depicted in the logo of the Burt's Bees brand of personal care products, died in Bangor, Maine, on . The fair value of the interest rate swap was estimated by obtaining a quote from the broker and 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. Description of Business and Summary of Significant Accounting Policies (continued). interest coverage ratios, fixed charge coverage ratios, and leverage ratios. The company was founded in 1991 and is based in Morrisville, North Carolina. On August18, 2006, the Company acquired substantially all of the assets of Forever Natural, Inc., an unaffiliated international distributor for products of the Natural Personal Care (NPC) is a fast-growing, high-margin category that is highly fragmented, The convergence of wellness and sustainability, leading share position in several NPC segments, Clorox brand-building, customer-facing and, supply-chain capabilities will drive value creation, Projected growth of Natural Personal Care, U.S. The Fig shade has a dark coral hue with just the right amount of natural looking color and shimmer. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, Integrated Annual . will realize the benefits of these deductible differences. Responsibility. The new report from the U.S. Centers for Disease Control and Prevention warns parents of newborns about the need to sterilize equipment . 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. Description: Essay on Burt's Bees annual report. 109, Accounting for Income Taxes (SFAS 109). 1-800-227-1860 so that we can provide you access through Sales are climbing at an annual rate of 9%. Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. 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 She moved to Maine, built a cabin in the woods . Additionally, there was $3,189,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. Leasehold improvements are amortized using the straight-line basis over the shorter of the lease Burt's Bees, environment, ESG, sustainability. The Company recognizes revenue on sales when products are shipped and the customer takes ownership and assumes risk of loss. tax. Following the first progress update in 2016, Burt's Bees' 2018 update focuses on progress in 11 goal areas outlined when the brand's 2020 Sustainability goals were set in 2012. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. Burt's Bees Lip Balm, Moisturizing Lip Care Valentine's Gift for Men & Women, 100% Natural, Original Beeswax with Vitamin E & Peppermint Oil 0.15OZ 4.25g 2 Tubes No reviews 780 780 1,200 1,200 (35% off) Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash equivalents and accounts receivable. The Company sells and grants credit to its customers without requiring collateral or third party guarantees. 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. FREE delivery Tue, Feb 28 on your first order. Here's a sampling of once-bold goals that are now standard . 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 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 This annual report highlights their mission statement and shares stories from their customers who love the products. 2023 The Clorox Company. 1984. directly, comparable GAAP financial measures and reconciliation to And sometimes, what you measure, you become. Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. 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, Burt's Bees is a natural brand focused on using only the highest quality ingredients for their products. Or perhaps you need help to leverage your brand's power to deliver real business impact? time to time in the companys SEC filings. The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. 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. CHANEL Limited Financial Results for the year ending: 31 December 2021. Under SFAS 109, deferred income taxes are provided on temporary differences between the amounts of assets and liabilities recognized for financial reporting purposes 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. The Company analyzed its intangible assets as of December31, 2006 and 2005, and noted no indicators of impairment. 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 . . As discussed in Note 8, the These financial statements are the During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the 109 (FIN 48). 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 Health and wellness is not only our past and present, it's our future. Description of Business and Summary of Significant Accounting 141, Business Combinations The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. Financial Standards No. The Clorox Company doesn't provide the information on its shareholders. An audit also includes examining, on a In addition, the company offers body care products, including body washes and soaps, body moisturizers, and bath oils and bath crystals, as well as hand, foot, sun, and mens body care products; baby care products, including baby washes and soaps, baby moisturizers, diaper ointment and care products, and baby sun care products; and gift sets. The initiatives were announced along with the release of the company's 2020 Impact Report. The value given is the amount of sales needed to generate one currency unit of post tax profit. 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. When the brand set these sustainability goals more than five years ago, they were ambitious. 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. SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long. UNSCENTED LOTION: This fragrance free belly butter gently and safely moisturizes as your belly and skin stretch during pregnancy. Burt's Bees makes $739,726 in a day. Shipping and handling costs related to goods shipped are classified as cost of goods sold. SFAS No. Unrealized gains or losses are recorded in earnings as incurred until in retaining key Burts Bees, employees, suppliers and customers; the MOISTURIZER: Made with Beeswax, Vitamin E and a hint of peppermint oil, hydrate and nourish dry lips with the original favorite Burts Bees lip balm. Report abuse. The assumptions for the Black-Scholes-Merton model used in determining the fair value of options granted to employees for the year ended December31, 2006 were: The option-pricing model uses a forecast of the volatility of the Companys common stock during the expected The plan is available to employees the first of the following month after three months of service. 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. FRIDAY, March 3, 2023 (HealthDay News) -- Don't put lip balm on your eyelid, even if you saw it on TikTok. It's a measure of a company's overall profitability, i.e. to be outstanding. earnings growth, profitability, costs, cost savings, innovation or. SFAS 157 applies whenever other pronouncements require The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make 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 LIP CARE: Renew your lips with Burt's Bees Moisturizing Pink Grapefruit Lip Balm bursting with juicy goodness; MOISTURIZER: Hydrate and sooth dry lips with Beeswax and powerful fruit extracts packed into every tube of Burt's Bees lip balm; SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all . The Company leases certain equipment and buildings under noncancelable operating leases expiring in years through 2010. 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. 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. Negative values mean that the company has a negative level of post tax profit. 2005. Burt's Bees was the leading lip balm/treatment brand in the United States in 2019, generating sales of over 140 million U.S. dollars in that year. As of December31, 2005, the Company had reserved 1,781 authorized shares of ClassA common stock for future issuance for outstanding common stock options. << BACK TO WORK. regulatory matters. ET. RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. Star rating: 4.8/5 Potential allergens: Glycerin Active ingredients: Cotton extract. Milk Hand Cream, Hand Salve and Pomegranate Lip Balm. Estimates of fair value are not intended to predict In our opinion, the financial statements referred to above present fairly, in all material It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. As of December31, 2006, additional cash consideration of $200,000 was accrued based on the achievement of established 2006 financial 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. The employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. In 2006, $31,000 of tax benefits were reported as a financing activity. for the years ended December31, 2006 and 2005, respectively. Our commitments to social and environmental sustainability. Show more Show less Accounts receivable are derived from revenue Paula Alexander, director of sustainable business and innovation at Burt's, reports . Weve been earning peoples trust since 1913. Investor Contact (510) 271-7767. investorrelations@clorox.com. Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. generally accepted accounting principles. For purposes of performing the goodwill As discussed in Note 1 to the financial statements, effective January1, 2006, the Company adopted the 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. I was invited to paint a mural for their annual culture day to honor the passing of the company's founder, Burt Schavitz. The Company monitors customers payment history and establishes reserves for 2,260 shares had been granted and were outstanding, and 587 shares were vested. 0. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. Submitted by Burt's Bees. Inclusion, diversity, equity and allyship. strategy, culture, and execution track record, which we intend to Burt's Bees Sustainability. 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.