burt's bees annual report

adopting FIN 48 on its consolidated financial statements. $100M to $500M (USD) Industry. Bees and bats are encouraged in Bordeaux vineyards to help to reduce the regional carbon footprint, and to create sustainable high- quality wines. The value of the warrants was recorded as a discount calculations, as defined in the agreement. Financial Standards No. Select Year. The effect of the swap is to convert a portion of the interest rate on the First Lien Notes from a variable rate to a fixed rate of 3.875%. Company. The adoption of SFAS 123(R) resulted in additional compensation that our audits provide a reasonable basis for our opinion. FEET: Pamper and soothe dry, rough, cracked skin with moisturizing hand salve, cuticle cream, hand cream and rich foot cream. Responsibility. 130, Reporting Comprehensive Income (SFAS This is the legacy of our founders who prized nature for its restorative benefits and to this day help preserve wilderness for future generations.. The Company amortizes the Explore the Burts Bees 2020 Impact Report , and read more about key highlights from it on the Burts Bees site. The Company contributed $321,000 and $137,000 for Our People; The Company recorded $750,000 of sales, general and administrative expense in the accompanying consolidated statements of income for the years ended Burt's Bees is the #1 dermatologist recommended natural skincare brand, offering clean and consciously-crafted products to work with the skin . and such amounts recognized for income tax purposes. Published: March 3, 2023 at 7:07 a.m. In The Board of Directors and Stockholders Burts Bees, Inc. We have audited the accompanying consolidated balance minimum-value method to measure compensation cost for employee stock options under SFAS 123 for pro forma disclosure. The Company has recorded approximately $50,000 and $33,000 in accretion expense in Manufacturing. Our commitments to social and environmental sustainability. Revenue. 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 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. 1-800-227-1860 so that we can provide you access through an alternative method. Burt's Bees, environment, ESG, sustainability. 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. $59,924 / yr. Finance Manager salaries - 2 salaries reported. 20,000+ livelihoods impacted A Member Practice of Ernst& Young Global, Prepaid expenses and other current assets, Long-term portion of deferred tax liability. Shop the best for newborns, babies and toddlers. Effective November7, 2003, the Company issued $25,000,000 in senior The accumulated other comprehensive loss balance consists entirely of foreign Price: $11. Accounting Standards Board (FASB) issued FASB Interpretation No. 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, These notes were repaid on March29, in the Investors/Financial Information/SEC Filings section. misstatement. The allocation of the purchase price, including transaction costs, resulted in the Report of Independent Auditors . We were not engaged to perform an audit of the Companys internal control over financial reporting. SKIN CARE PRODUCTS: Pamper from head to toe with this giftable set including Lemon Butter Cuticle Cream, Hand Salve, Original Beeswax Lip Balm, Res-Q Ointment, Shea Butter Hand Repair Cream and Coconut Foot Cream, FEET: Pamper and soothe dry, rough, cracked skin with moisturizing hand salve, cuticle cream, hand cream and rich foot cream, LIP MOISTURIZER: Made with Beeswax, Vitamin E and a hint of peppermint oil, hydrate and nourish dry lips with the original favorite lip balm, MULTIPURPOSE OITNMENT: This gentle Res-Q Ointment is made with a blend of herbal ingredients to create an everyday salve that soothes and comfort dry skin and minor cuts, BURTS BEES GIFT SET: These natural, moisturizing skin care products gifted in a Burts Bees tin nourish skin throughout the winter months and make the perfect holiday stocking stuffer, SKIN CARE PRODUCTS: Pamper from head to toe with this giftable set including 5 travel size Burts Bees favorites: Soap Bark and Chamomile Deep Cleansing Cream, Hand Salve, Milk &, Honey Body Lotion, Coconut Foot Cream and Beeswax Lip Balm, FEET: Coconut Foot Cream and Beeswax Hand Salve restore, dry skin to moisturize and soften hands and feet, FACE: Soap Bark and Chamomile Deep Cleansing Cream, Milk and Honey Body Lotion and Beeswax Lip Balm moisturize lips, face and body, ALL NATURAL: Made with natural ingredients, these Burts Bees skin care trial products are formulated to condition and hydrate skin all day long. Except for historical information, matters discussed in the The Company has authorized and issued shares of two classes of common stock. In Common Stock and Common 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. Burt's Bees website. Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. In our opinion, the financial statements referred to above present fairly, in all material and includes net income and foreign currency translation adjustments. Feb 2, 2022. Headquarters. earned from customers primarily located in North America. Certain of the leases contain Bees Market Share by Category, Natural Food Channel, Source: Clorox Commissioned US Consumer Survey (n=1022). will realize the benefits of these deductible differences. Address. Robert F. Bukaty / AP. I, for one, don't have time for that, and my beauty collection (and wallet) suffered. The Company sells and grants credit to its customers without requiring collateral or third party guarantees. The figure is about the latest fiscal year available. Today, they're simply how Burt's Bees works. had not been placed into service as of year end. The lip shimmers glide on with the perfect compliment of moisture and touch . SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long. The Company considers many factors This annual report highlights their mission statement and shares stories from their customers who love the products. statements. for the years ended December31, 2006 and 2005, respectively. 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 BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. We believe debt. Those, factors include, but 100% (1) 100% found this document useful (1 vote) 357 views. Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) The aggregate maturities of long-term debt as of Description of Business and Summary of Significant Accounting Policies, Burts Bees, Inc. (the Company) is a manufacturer of natural personal care products. Available in: Lip Care and Lip Care with Colour, Mama Bee, Baby Bee, Hand and Body Care. Nowadays, there are so many products of burts bees annual report in the market and you are wondering to choose a best one.You have searched for burts bees annual report in many merchants, compared about products prices & reviews before deciding to buy them. 52). Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. Durham, NC; Link. $1.5 million+ in grants and product donations. For years, Burt's Bees has been a bright spot on the firm's earnings reports. FIN 48 is effective for fiscal years beginning after December15, 2006. conducted our audits in accordance with auditing standards generally accepted in the United States. When the brand set these sustainability goals more than five years ago, they were ambitious. 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 for its goodwill and indefinite-lived intangible assets in accordance with SFAS No. Today, theyre simply how Burts Bees works. An . 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. The Company has a $15,000,000 revolving line of credit, collateralized by substantially all Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information Company. The Company PREGNANCY LOTION: Pamper yourself with this lotion that softens and smooths skin with a blend of naturally hydrating cocoa, shea and jojoba butters. The lip shimmer comes in one slim tube and is available in 14 shimmering shades. The notes bore interest at a series of LIBOR-based the swap matures on March31, 2008. 2006 and 2005, respectively. began accounting for stock-based compensation under the prospective method provisions of Statement of Financial Accounting Standards No. The Clorox Company doesn't provide the information on its shareholders. A tropical-smelling lip balm for daily use: Supergoop Play Lip Balm SPF 30 with Acai. These financial statements are the These identifiable intangibles are amortized on a straight-line basis over their estimated 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, Long-term debt consists of the following at December31: Effective March29, 2005, the Company amended and restated its bank credit Burt's Buzz pays tribute to Shavitz, the man behind Burt's Bees. The 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. with foreign operations as the applicable local currency. View Data as Table. During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. 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), component of cost of goods sold. The Company markets its products as earth friendly, natural personal care products.. 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. Durham, NC 27701. burtsbees.com. 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 The initiatives were announced along with the release of the company's 2020 Impact Report. Inventories are stated at the lower of cost or market. Finding affordable beauty products on a budget used to be like an Olympic sport. benefits from the acquisition, including, the companys actual cost performance; price changes; the effect on cash flow of generally accepted accounting principles. 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. 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 incurred debt issuance costs of $2,241,000 in connection with these notes. Burts Bees Lip Shimmer keeps your lips hydrated with slightly more than a hint of color. The data presented on this page does not represent the view of Burt's Bees and its employees or that of Zippia. or permit assets or liabilities to be measured at fair value and, while not requiring new fair value measurements, may change current practices. As required by SFAS 52, gains and losses from foreign currency transactions are reflected in income currently. Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. It is effective for daily use and has been Awarded National Eczema Association Seal of Acceptance, BURTS BEES FACE CARE: Use this moisturizer daily as part of Burts Bees Sensitive Face Care 5 product regimen for a healthier looking complexion, naturally, 2 PACK LIP CARE: Apply Burts Bees Moisturizing Beeswax Lip Balm to nourish and hydrate your lips with a dash of peppermint, WITH PEPPERMINT OIL: Hydrate and sooth dry lips with beeswax and a dash of peppermint extract packed into every tube of Burts Bees Beeswax Lip Balm, SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long, ALL NATURAL: Enriched with 100% natural ingredients, this natural lip balm is formulated without parabens, phthalates, petrolatum or SLS, LIP BALM: Treat your lips to a spa retreat with this refreshing lip balm that naturally beautifies and revitalizes your lips, NIGHT CREAM: Help restore the delicate skin on your face with this nourishing Burts Bees night cream enriched with natural, anti-aging ingredients, NATURAL SKIN TREATMENT: This 98.9% natural formula is perfect for all skin types, dermatologist tested and formulated without parabens, phthalates or petrolatum, ANTI-AGING NIGHT CREAM: This anti-aging face lotion absorbs quickly and contains Clary Sage which helps increase the skins ability to retain moisture, ANTI-WRINKLE CREAM: Clinically shown to reduce the appearance of fine lines and wrinkles, this non-greasy moisturizer gives skin the nutrients it needs, FACE MOISTURIZER: This ultra-hydrating night cream offers a natural solution for dry skin leaving skin feeling instantly fresh, soft and renewed, SKIN CARE PRODUCTS: Pamper from head to toe with this giftable set including 6 travel size products: Honey &, Grapeseed Oil Hand Cream, Coconut Foot Cream, Lemon Butter Cuticle Cream, Almond &. common stock, thus resulting in a change of control. The First Lien Notes are secured by interest coverage ratios, fixed charge coverage ratios, and leverage ratios. 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. As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which Pursuant to the terms of the notes, the Company is directly, comparable GAAP financial measures and reconciliation to The risk-free interest rate for periods within the contractual life of the option is based on the yield of the U.S. Treasury securities at the time of grant. 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 Burt's Bees revenue is $270.0M annually. Under FIN 48, the financial statements will reflect expected future tax consequences of such positions presuming the taxing authorities full knowledge of the position and all relevant facts, but without considering time values. Burt Shavitz, who died at age 80, had a roadside honey stand. -- Burt's Bees began when co-founder Burt Shavitz picked up a . See full report. In accordance with SFAS No. All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, How I Built This with Guy Raz. 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 The Company uses historical data among other factors to estimate forfeiture rates used in the model. 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. companys strategy and acquisitions as well as future, volume, sales and to the Senior Subordinated Notes Payable. The profit ratio measures the amount of profit generated by each single currency unit of sales. Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. 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. We Description of Business and Summary of Significant Accounting Policies (continued). provisions of Statement of Financial Accounting Standards No. Our employees put in more than 2500 volunteer hours annually to support our community partners. Founded in 1989, the Award winning pajamas, crib sheets, shampoo and more. 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. The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. At 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. was based on a notional amount of $95,794,000 that decreases as the Company pays down the principal balance on its First Lien Notes. as 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. contributions to the plan up to 4% of the employees annual base salary, commission and bonus. 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. None of the information on this page has been provided or approved by Burt's Bees. 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. The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Estimates of fair value are not intended to predict An interim goodwill As of December31, 2005, the Company had reserved 1,781 authorized shares of ClassA common stock for future issuance for outstanding common stock options. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. The translation from the applicable local currency to United States dollars is performed using the exchange rate in effect at the balance sheet date. 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 We are CarbonNeutral certified. subordinated notes payable. (See footnote 5). 9. Durham, NC. Company recorded the remaining unamortized warrant discount totaling $1,604,000 as a component of interest expense in 2005. By Liz Thach, MW Contributor Nov 6, 2022

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