The Company amortizes the Amortization for the year ended December31, 2005 totaled $72,000. The Company uses historical data among other factors to estimate forfeiture rates used in the model. Archived Annual Reports. Any additional future cash consideration represents additional purchase SFAS 157 applies whenever other pronouncements require 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. 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. We are CarbonNeutral certified. Responsibility. provisions of Statement of Financial Accounting Standards No. recognition and attribution provisions of SFAS 123(R). 4461. The aggregate maturities of long-term debt as of The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial began accounting for stock-based compensation under the prospective method provisions of Statement of Financial Accounting Standards No. The warrants were exercisable until November7, 2010. 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. or permit assets or liabilities to be measured at fair value and, while not requiring new fair value measurements, may change current practices. Burt's Bees in Moses Lake, WA Expand search. calculations, as defined in the agreement. Canada ULC. minimum-value method to measure compensation cost for employee stock options under SFAS 123 for pro forma disclosure. 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 Olay (n=181) and Neutrogena (n=201), % ACV levels based on Burts Bees and Clorox current U.S. distribution as of THE FLIGHT PATH: While our original goal of helping The Company capitalizes software development costs once the project has reached the application development stage, which includes activities such Manufacturing. Additionally, there was $3,189,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. Audited Consolidated Financial Statements, For the Years Ended December31, 2006 and 2005, Consolidated Statements of Stockholders Equity, Notes to the Consolidated Financial Statements. View Burt's Bees (www.burtsbees.com) location in North Carolina, United States , revenue, industry and description. to be outstanding. 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. (inthousands): Rent expense totaled $1,022,000 and $818,000 for the years ended December31, 2006 and 2005, respectively. 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 Burts Bees's Annual Report & Profile shows critical firmographic facts: The Company has presented the tax benefit for deductions relating A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. 48 Accounting for Uncertainty in Income Taxes an interpretation of FASB Statement No. In conjunction with the amendment, the Company agreed to return a portion of the facility back to its original use at the end of the lease term, May31, 2010. 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 have struggled to meet our water reduction targets after increasing water use per mass unit of . 4.8 4.8 out of 5 stars (102,801) $10.45 $ 10. Founded in 1989, the 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 &. directly, comparable GAAP financial measures and reconciliation to Burt's Bees has 450 employees, and the revenue per employee ratio is $600,000. Effective November7, 2003, the Company -- Burt's Bees began when co-founder Burt Shavitz picked up a . users, and will continue to take steps necessary to ensure compliance with applicable laws. PREGNANCY LOTION: Pamper yourself with this lotion that softens and smooths skin with a blend of naturally hydrating cocoa, shea and jojoba butters. Health and wellness is not only our past and present, it's our future. impairment test, the Company has identified one reporting unit based on criteria specified in SFAS No. 31 December 2018. are not limited to, the completion of the acquisition of Burts Bees; the, continuation of Burts Bees growth trajectory and other valuation assumptions; Burt's Bees Sustainability. The Company monitors customers payment history and establishes reserves for She moved to Maine, built a cabin in the woods . Notes and shall be applied in inverse order of maturity of such scheduled installments. In assessing the realizability of deferred tax assets, management considers whether it is more likely Accounts receivable are derived from revenue The Clorox Company doesn't provide the information on its shareholders. Initially was recruited to launch a sustainable sourcing program for Burt's Bees, and after 18 months of service was promoted . The Clorox Company is committed to making its website accessible for all 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 . ClassA common stock has voting the years ended December31, 2006 and 2005, respectively. <style>.fallback-nojs { display: flex; flex-direction: column; justify-content: center; align-items: center; text-align: center; } .fallback-nojs a { color . 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 Today, theyre simply how Burts Bees works. 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. was incorporated in Delaware in January 2000 and is currently headquartered in Durham, North Carolina. BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. At Long-term debt consists of the following at December31: Effective March29, 2005, the Company amended and restated its bank credit Get Discount Code LASTCHANCE20. Note: Revenues for privately held companies are statistical evaluations. Burt's Bees, environment, ESG, sustainability. companys most recent Form 10-K, filed with the SEC, as updated from On April21, 2005, the Company entered into an interest rate swap to hedge against the impact on cash flows of changes in interest rates 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. Description of Business and Summary of Significant Accounting component of cost of goods sold. 1984. assets of the Company, which was unused in 2006. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material The adoption of SFAS 123(R) resulted in additional compensation exhibits furnished to the SEC, which is posted at. for the years ended December31, 2006 and 2005, respectively. 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. Notes to Consolidated Financial Statements (continued), 1. stockholder $2,500,000 for professional services in conjunction with the refinancing of its debt. 31 December 2020. Our People; ET. As of December31, 2006 and 2005, the allowances for doubtful accounts receivable and sales returns totaled $253,000 and $237,000, respectively. Interest payments on the notes were due quarterly and principal was payable on November7, 2010. Important factors that could cause results to The Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. Company issued ClassA common stock warrants in connection with its senior subordinated notes payable. These notes were repaid on March29, earnings growth, profitability, costs, cost savings, innovation or. The Company recognizes revenue on sales when products are shipped and the customer takes ownership and assumes risk of loss. issuance costs totaling $613,000 were recorded as a component of interest expense in 2005. The Company has recorded a long term liability of approximately 130), which requires the Company to report and display certain information related to comprehensive income. Award winning pajamas, crib sheets, shampoo and more. July 6, 2015. It is classified as operating in the Pharmacies & Drug Stores industry. 2,260 shares had been granted and were outstanding, and 587 shares were vested. In accordance with SFAS No. Naturally, when they planned to break into a new product category, consumer content was a critical element of their strategy. Therefore, the Company estimates volatility based upon In the 1970s, Roxanne Quimby was trying to live a simpler life - one that rejected the pursuit of material comforts. Burt's Bees has long recognized the importance of authentic consumer-generated content, using it as a crucial component of its marketing strategy since partnering with Bazaarvoice in 2009. regulatory matters. Additionally, the Company allocated 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. estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. 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 The allocation of the purchase price, including transaction costs, resulted in the At December31, 2006, two customers represented approximately 27% and 14% of accounts receivable. 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. differ materially, from managements expectations are described in the " 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. December31, 2006 and 2005, related to this management agreement. 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. 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. This prepayment permanently reduces the First Lien Burt's Bees makes $739,726 in a day. customer represented approximately 14% of total revenue. Our commitments to social and environmental sustainability. notes, the Company was required to prepay the principle of the senior notes based upon excess cash flow, as defined in the agreement, with payment of the excess cash flow within 120 days after year end. 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). << BACK TO WORK. 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.". consolidated financial statements from the date of acquisition. Unlike a lot of other "natural" brands Burt's Bees has transparency. 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) 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. Effective January1, 2006, the Company The Company was in compliance with these covenants at December31, 2006. $94,279,000. 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. Uses: Moisturizing and soothing. term or the estimated useful life of the asset. 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. 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. Proceeds from the issuance of the notes The fair value of these warrants was recorded as a discount on the debt and was amortized as additional interest expense over the term of the Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash equivalents and accounts receivable. 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. Effective March29, 2005, the As of December31, 2005, the Company had reserved 1,781 authorized shares of ClassA common stock for future issuance for outstanding common stock options. Burt's Bees is an American personal care products subsidiary of Clorox that describes itself as an "Earth friendly, Natural Personal Care Company"making . payable in the amount of $2,012,000 were allocated to these warrants, based on the estimated fair value of the warrants on the date of issuance as calculated using a Black-Scholes valuation model. statements. Pursuant to the terms of the notes, the Company is 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. 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. That 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. Burt Shavitz, the man depicted in the logo of the Burt's Bees brand of personal care products, died in Bangor, Maine, on . It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. It was interesting to notice how Roxanne . 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. as coding, installation of hardware, and software configuration. 10/31/07, markets; look to enter new, high-potential markets, Burts Bees has a strong management team, 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 Clorox Company. Select Year. Focused on delivering long-term investor returns through a committment to ESG. This is the legacy of our founders who prized nature for its restorative benefits and to this day help preserve wilderness for future generations.. 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. 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 includes the overall revenue of the company, considering not only the sales of finished goods, but all of the sources of the company income. 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, Burt's Bees Releases Rainbow Pride Lip Balm Pack in Support of GLSEN. an alternative method. Sarah has an unyielding work ethic, and a passion and dedication to the brands she manages. Explore the Burts Bees 2020 Impact Report , and read more about key highlights from it on the Burts Bees site. 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. None of the information on this page has been provided or approved by Burt's Bees. 123(R), Share-Based Payment, to account for stock-based compensation. Sarah has advanced quickly in her career, and . The Company incurred debt issuance costs of $2,241,000 in connection with these notes. (SFAS 141). 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. 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. 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. When the brand set these sustainability goals more than five years ago, they were ambitious. 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 . 45% of oils, waxes and butters. The Company 1. Stock Reserved for Future Issuance. CHECK PRICE. $1.5 million+ in grants and product donations. . 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. Pursuant to the terms of the 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. 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 . About the company. 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. 109, Accounting for Income Taxes (SFAS 109). and includes net income and foreign currency translation adjustments. We champion people to be well and thrive every single day. 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. Burt's Buzz pays tribute to Shavitz, the man behind Burt's Bees. The accumulated other comprehensive loss balance consists entirely of foreign

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