Adjustments resulting from the translation of the Companys subsidiaries financial statements from its functional currency to the United States dollar are not included in On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the Note: Revenues for privately held companies are statistical evaluations. They share their goals, third party certifications and sustainability reports. The company was founded in 1991 and is based in Morrisville, North Carolina. Under the terms of this management agreement, the Company will pay this entity $750,000 per rates that ranged from 5.31% to 5.52%per annum during 2005. For years, Burt's Bees has been a bright spot on the firm's earnings reports. 99 ($3.33/count) buy 5 to get 5% off. Kathleen M. Sarnes. Or perhaps you need help to leverage your brand's power to deliver real business impact? Pursuant to the terms of the notes, the Company is 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 For purposes of performing the goodwill The Companys operations are subject to and affected by federal, state and local laws and regulations relating to the environment, health and safety and other Cost is determined using the first-in, first-out Revenue. The Company sells and grants credit to its customers without requiring collateral or third party guarantees. An . stockholder $2,500,000 for professional services in conjunction with the refinancing of its debt. Star rating: 4.8/5 Potential allergens: Glycerin Active ingredients: Cotton extract. Every day. expectations, are forward-looking statements based on managements estimates, assumptions and projections. Foreign currency transactions are accounted for in The Clorox Company doesn't provide the Operating Margin figure for Burt's Bees. Burt's Bees lip balm targeted over 'all natural' label, The Clorox Company Signs 47-Megawatt Virtual Power Purchase Agreement, The Clorox Company today announced the launch of a new initiative to advance environmental justice. 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. Focused on delivering long-term investor returns through a committment to ESG. Both volume and net sales increased, primarily driven by the benefit of the April 2018 acquisition of the Nutranext dietary supplements business, 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 . disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. 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. The Company accounts 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 If you have difficulty accessing any content, feature or functionality estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. Leasehold improvements are amortized using the straight-line basis over the shorter of the lease 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. statements. Burt's Bees >. Durham, NC. As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. 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. 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. estimated bad debts and sales returns and allowances. including the, ability to increase distribution; the companys success 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. companys ability to achieve the projected, strategic and financial 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. 4.6 4.6 out of 5 stars (485) $9.99 $ 9. 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. SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long. 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. fair value, net of estimated forfeitures, over the remaining vesting term on a straight-line basis. The figure is about the latest fiscal year available. When expanded it provides a list of search options that will switch the search inputs to match . All Rights Reserved. and 2005 will begin to expire in 2007 if not used. 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%. will realize the benefits of these deductible differences. We In 2006, two customers each represented approximately 16% of total revenue, and in 2005, a single The Company useful lives, ranging from seven to ten years. The Company has a $15,000,000 revolving line of credit, collateralized by substantially all The Company analyzed its intangible assets as of December31, 2006 and 2005, and noted no indicators of impairment. We were not engaged to perform an audit of the Companys internal control over financial reporting. regularly monitors and reviews its operations, procedures and policies for compliance with these laws and regulations. $59,924 / yr. Finance Manager salaries - 2 salaries reported. Unrealized gains or losses are recorded in earnings as incurred until On Monday, Burt's Bees posted a tribute to its eccentric namesake, Burt Shavitz, who died at 80 over the weekend. 1999. . The Company also recorded deferred rent totaling $550,000 for this lease incentive that is being amortized on a straight line basis over the remaining lease term. The Company uses historical data among other factors to estimate forfeiture rates used in the model. 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. Burt's Bees is an American personal care products subsidiary of Clorox that describes itself as an "Earth friendly, Natural Personal Care Company"making . The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as Occupation(s) Beekeeper, businessman, photographer: Known for: Burt's Bees: Ingram Berg Shavitz (May 15, 1935 - July 5, 2015) professionally known as Burt Shavitz, was an American beekeeper and businessman notable for founding the Burt's Bees personal care products company with businesswoman Roxanne Quimby. The lip shimmers glide on with the perfect compliment of moisture and touch . As the 2006 amount is expected to be paid by The Clorox Company doesn't provide the information on its shareholders. 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. The First Lien Notes are secured by than not that some portion or all of the deferred tax assets will not be realized. provisions of Statement of Financial Accounting Standards No. Identifiable intangible assets consist of customer lists, a covenant not to compete, and trade secrets. CHANEL Limited Financial Results for the year ending: 31 December 2021. The Company markets its products as earth friendly, natural personal care products.. The Company monitors customers payment history and establishes reserves for Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information July 6, 2015. 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. Burt's Bees 100% Natural Tinted Lip Balm, Red Dahlia with Shea Butter & Botanical Waxes - 2 Pack. At December31, 2006, two customers represented approximately 27% and 14% of accounts receivable. No. 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. SFAS No. At December31, 2006, 100% (1) 100% found this document useful (1 vote) 357 views. The Company recorded $750,000 of sales, general and administrative expense in the accompanying consolidated statements of income for the years ended For the The transaction is accounted for in accordance with SFAS 141, and the results of operations of Forever Natural are included in the Companys 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 210 West Pettigrew Street. Burt&#39;s Bees is the #1 dermatologist recommended natural skincare brand, offering clean and consciously-crafted products to work with the skin . had not been placed into service as of year end. Burt's Bees Sustainability. In accordance with SFAS No. Effective November7, 2003, the Company issued $25,000,000 in senior Uploaded by Joshua Gillaspie. time to time in the companys SEC filings. Notes to Consolidated Financial Statements (continued), 1. Actual results could differ from those estimates. Intangible assets resulted from a business 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 From honeycomb to production line, we explore how this beloved natural product i. 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). for the years ended December31, 2006 and 2005, respectively. Robert F. Bukaty / AP. assets of the Company, which was unused in 2006. What We Make How We Operate 8 pages. The following methods and I was invited to paint a mural for their annual culture day to honor the passing of the company's founder, Burt Schavitz. Sales are recorded net of an estimated consolidated financial statements from the date of acquisition. 1. goodwill and certain intangibles. 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 The Clorox Company is committed to making its website accessible for all . Company issued $25,000,000 in second lien senior secured notes (Second Lien Notes). Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) 142 requires the use of a non-amortization approach to account for purchased 10/31/07, markets; look to enter new, high-potential markets, Burts Bees has a strong management team, As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which These It's bad for your eyes, according to a Michigan Medicine expert. The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of The lip shimmer comes in one slim tube and is available in 14 shimmering shades. escalation clauses and renewal options as outlined in the agreements. Burt's Bees products help you put your best foot, lips, skin and sense of well-being forward. Burt's Bees has been offering distinctive earth-friendly, natural health and beauty care products for 30 years. Burt's Bees, Inc. provides natural health and beauty care products. 2005. We champion people to be well and thrive every single day. The valuation allowance is charged to the provision for inventory which is a the years ended December31, 2006 and 2005, respectively. The During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as defined in the note agreements. Accordingly, we express no such opinion. The notes are secured by Those, factors include, but are not limited to, the completion of the acquisition of Burts Bees; the, continuation of Burts Bees growth trajectory and other valuation assumptions; At Our employees put in more than 2500 volunteer hours annually to support our community partners. The Company applies the provisions of Statement of Financial Accounting Standards No. The warrants were exercisable until November7, 2010. These deferred taxes are measured by applying currently enacted tax laws. In September 2006, the FASB issued Statement of Financial Accounting Standards No. the carrying value accordingly. Responsibility. The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. The late Burt Shavitz, cofounder, namesake, and spokesman for Burt's Bees. Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. 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. Canada ULC. BURT'S BEES SKIN CARE: Use Burt's Bees naturally moisturizing face cream as part of your daily Burt's Bees sensitive 5 product face care regimen for a healthier looking complexion . 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. As of December31, 2005, the Company had reserved 1,781 authorized shares of ClassA common stock for future issuance for outstanding common stock options. Important factors that could cause results to The trend first began back in the 2010s, but has seen a resurgence in 2023. Address. 20,000+ livelihoods impacted The company was founded in 1991 and is based in Morrisville, North Carolina. benefits from the acquisition, including, the companys actual cost performance; price changes; the effect on cash flow of 1-800-227-1860 so that we can provide you access through in the Investors/Financial Information/SEC Filings section. Milk Hand Cream, Hand Salve and Pomegranate Lip Balm. 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. Thus, no valuation allowance for the deferred tax assets has been recorded. cost is expected to be recognized over a weighted-average period of approximately 5 years. Financial Standards No. Submitted by Burt's Bees. 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 data presented on this page does not represent the view of Burt's Bees and its employees or that of Zippia. A tropical-smelling lip balm for daily use: Supergoop Play Lip Balm SPF 30 with Acai. Burt&#39;s Bees | 27,963 followers on LinkedIn. Thank you! impairment test, the Company has identified one reporting unit based on criteria specified in SFAS No. Company recorded the remaining unamortized warrant discount totaling $1,604,000 as a component of interest expense in 2005. Amortization expense related to the warrants for the 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, <style>.fallback-nojs { display: flex; flex-direction: column; justify-content: center; align-items: center; text-align: center; } .fallback-nojs a { color . Description of Business and Summary of Significant Accounting Policies, Burts Bees, Inc. (the Company) is a manufacturer of natural personal care products. An audit also includes examining, on a using fair value to measure assets and liabilities. regulatory matters. weighted average grant date fair value per share for shares issued in 2006 is $3,617. 130), which requires the Company to report and display certain information related to comprehensive income. 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 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. 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 in Moses Lake, WA Expand search. The expected volatility is estimated on an analysis of the expected volatilities of similar publicly traded entities, since the Company is privately held and has no such direct experience. As discussed in Note 8, the payments of up to $600,000 to Forever Natural based on the achievement of certain annual financial performance measures of the acquired business through December31, 2008. appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. The accumulated other comprehensive loss balance consists entirely of foreign 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 15 line vehicle recovery request usmc, viv and rae assembly instructions, fremont high school basketball schedule,