A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. By Liz Thach, MW Contributor Nov 6, 2022 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. These financial statements are the The Company expenses costs of advertising and promotional costs as incurred. Burt's Bees is an interesting case, which discusses the success story of an all natural skin care company. 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 Burt's Bees revenue is $270.0M annually. 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. Long-term debt consists of the following at December31: Effective March29, 2005, the Company amended and restated its bank credit Company issued ClassA common stock warrants in connection with its senior subordinated notes payable. Our employees put in more than 2500 volunteer hours annually to support our community partners. The following methods and The initiatives were announced along with the release of the company's 2020 Impact Report. After extensive research and analysis, Zippia's data science team found the following key financial metrics. In a single month, Burt's Bees normally makes close to $22.5M in revenue. 2003. See full report. non-GAAP financial measures, are set forth in the Form 10-K and its 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. When the brand set these sustainability goals more than five years ago, they were ambitious. These notes were repaid on March29, Reviewed in the United States on February 1, 2023. 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 . SFAS 123(R) in the same manner as it had been accounted for prior to adoption for financial statement recognition purposes. 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. Sarah has advanced quickly in her career, and . 142, Goodwill and Other Intangible Assets (SFAS No. Weve been earning peoples trust since 1913. Uploaded by Joshua Gillaspie. These identifiable intangibles are amortized on a straight-line basis over their estimated Shipping and handling costs related to goods received are capitalized as a component of Star rating: 4.8/5 Potential allergens: Glycerin Active ingredients: Cotton extract. Archived Annual Reports. 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. An . Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of Show more Show less 31 December 2017. 130, Reporting Comprehensive Income (SFAS The increase in earnings before . It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. Burt's Bees is a natural brand focused on using only the highest quality ingredients for their products. SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long. The Company has authorized and issued shares of two classes of common stock. least one Burts Bees product; for all other competitors, each, consumer was asked Burt Shavitz, the man depicted in the logo of the Burt's Bees brand of personal care products, died in Bangor, Maine, on . We champion people to be well and thrive every single day. The expected term of options granted is derived using the simplified method and represents the period that options granted are expected About the company. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, Adjustments resulting from the translation of the Companys subsidiaries financial statements from its functional currency to the United States dollar are not included in THE FLIGHT PATH: While our original goal of helping The Company recognizes revenue on sales when products are shipped and the customer takes ownership and assumes risk of loss. Essay on Burt's Bees annual report. Natural and organic cosmetics . The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. The Company incurred debt issuance costs of $769,000 in connection with this issuance. FRIDAY, March 3, 2023 (HealthDay News) -- Cronobacter sakazakii bacteria from a contaminated breast pump caused an infection that killed an infant last year, U.S. federal health officials said Thursday. How I Built This with Guy Raz. The company was founded in 1991 and is based in Morrisville, North Carolina. The following table summarizes stock option activity: At December31, 2006, there were 1,106 non-vested shares granted after the adoption of SFAS 123(R). 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. At December31, 2006, In assessing the realizability of deferred tax assets, management considers whether it is more likely I, for one, don't have time for that, and my beauty collection (and wallet) suffered. 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. Homepage global.header.aria.smallmenu 0. Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. term or the estimated useful life of the asset. << BACK TO WORK. interest coverage ratios, fixed charge coverage ratios, and leverage ratios. Intangible assets resulted from a business Finance salaries - 3 salaries reported. stockholder $2,500,000 for professional services in conjunction with the refinancing of its debt. Effective January1, 2006, the Company As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which Important factors that could cause results to The figure is about the latest fiscal year available. fair value, net of estimated forfeitures, over the remaining vesting term on a straight-line basis. Description of Business and Summary of Significant Accounting Policies (continued). and 2005 will begin to expire in 2007 if not used. December31, 2006 are as follows (in thousands): The aggregate maturities for 2008 through 2010 are subject to change based upon future excess cash flow Shavitz's likeness is featured on the Burt's Bees products. 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 jersey knit allows for stretch for wider feet and the wrap-around . Estimates of fair value are not intended to predict Any additional future cash consideration represents additional purchase inventory cost. Burt's Bees is the #1 dermatologist recommended natural skincare brand, offering clean and consciously-crafted products to work with the skin . $94,279,000. the swap matures on March31, 2008. 141, Business Combinations Health and wellness is not only our past and present, it's our future. Amortization expense related to the warrants for the Represented Burt's Bees at Natural Products Expo West trade show. 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 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. statements. 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.". escalation clauses and renewal options as outlined in the agreements. The most 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. substantially all the assets of the Company. Accordingly, we express no such opinion. July 6, 2015. Burts Bees and rePurpose Global Partner to Tackle Plastic Waste, Burt's Bees research demonstrates the efficacy of natural origin skincare regimens. conducted our audits in accordance with auditing standards generally accepted in the United States. 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. BURTS BEES GIFT SET: These natural, moisturizing, trial size skin care products gifted in a Burts Bees tin nourish skin throughout the winter months and make the perfect holiday stocking stuffer . The Company may be required to make additional future cash Over the years, Burt's Bees has become a global natural, conscious skincare brand. respectively. As the 2006 amount is expected to be paid by Thus, no valuation allowance for the deferred tax assets has been recorded. Burts Bees's Annual Report & Profile shows critical firmographic facts: Burt's Bees 100% Natural Tinted Lip Balm, Red Dahlia with Shea Butter & Botanical Waxes - 2 Pack. regulatory matters. The Company pays a quarterly commitment fee of 0.50% on the unused portion of the revolver. The figure is about the latest fiscal year available. 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. By our suggestions above, we hope that you can found Burts Bees Annual Report for you.Please dont forget to share your experience by comment in this post. for its goodwill and indefinite-lived intangible assets in accordance with SFAS No. The First Lien Notes are secured by increased the amount of authorized ClassA shares reserved to 2,681. UNSCENTED LOTION: This fragrance free belly butter gently and safely moisturizes as your belly and skin stretch during pregnancy. 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. 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. companys strategy and acquisitions as well as future, volume, sales and The lip shimmer comes in one slim tube and is available in 14 shimmering shades. Burt's Bees Natural Vitality CALM Neocell Rainbow Light RenewLife. Under SFAS 109, deferred income taxes are provided on temporary differences between the amounts of assets and liabilities recognized for financial reporting purposes time to time in the companys SEC filings. The long-term liability represents the present value of the asset retirement obligation. goodwill and certain intangibles. This button displays the currently selected search type. 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 . 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 employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. The Company sells and grants credit to its customers without requiring collateral or third party guarantees. We believe The Company has a $15,000,000 revolving line of credit, collateralized by substantially all At Our audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are As required by SFAS 52, gains and losses from foreign currency transactions are reflected in income currently. in the Investors/Financial Information/SEC Filings section. $1.5 million+ in grants and product donations. 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. 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 Essay on Burt's Bees annual report. In 2006, $31,000 of tax benefits were reported as a financing activity. 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. 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. 109, Accounting for Income Taxes (SFAS 109). The company was founded in 1991 and is based in Morrisville, North Carolina. The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. misstatement. 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. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. issued by the Burt's Bees Foundation to protect biodiversity and reconnect people to nature. consolidated financial statements from the date of acquisition. Actual results could differ from those estimates. 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. Finance & Accounting. Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information to frontline workers and vulnerable populations at the onset of COVID-19. The Sales are recorded net of an estimated 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 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. $59,924 / yr. Finance Manager salaries - 2 salaries reported. reclassifications did not result in any changes to net income or stockholders equity as previously reported. Additionally, there was $3,189,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. We have struggled to meet our water reduction targets after increasing water use per mass unit of . 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 Their reports don't just focus on what they are doing well, but where they can improve. had not been placed into service as of year end. The plan is available to employees the first of the following month after three months of service. 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. In fiscal year 2016, we acquired the Renew Life line of probiotics, cleanses and digestive aids, giving us the Report of Independent Auditors . If this review by management indicates that the carrying value would not FIN 48 prescribes a comprehensive model for how a company 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 markets its products as earth friendly, natural personal care products.. will realize the benefits of these deductible differences. The new report from the U.S. Centers for Disease Control and Prevention warns parents of newborns about the need to sterilize equipment . An interim goodwill 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 . Responsibility. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences The Company ET. Effective March29, 2005, the is the estimated amount that the Company would receive to terminate the agreement at the reporting date, taking into account current interest rates. 130), which requires the Company to report and display certain information related to comprehensive income. exhibits furnished to the SEC, which is posted at. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets, which range from three to seven years. 5.0 out of 5 stars Perfect for sensitive skin. The transaction is accounted for in accordance with SFAS 141, and the results of operations of Forever Natural are included in the Companys how much of its sales are converting to profit. 9. Verified Purchase . Responsibility. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. 109 (FIN 48). The figure is about the latest fiscal year available. We offset our annual water consumption through watershed restoration projects. life of the option. Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. Nov 2012 - Jan 20163 years 3 months. 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 defined in the note agreements. Address. These deferred taxes are measured by applying currently enacted tax laws. cost basis. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. The Clorox Company doesn't provide the information on its shareholders.
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