burt's bees annual report

142). attached document, including, statements about the success of the become deductible. Responsible for planning and execution of booth and managing attendees for past shows. Description of Business and Summary of Significant Accounting Policies (continued). 2006 and 2005, respectively. The Company recognizes revenue on sales when products are shipped and the customer takes ownership and assumes risk of loss. The discount was being amortized as additional interest expense over the 84-month term of the debt from November7, 2003 to November7, 2010. Additionally, the Company allocated FREE delivery Tue, Feb 28 on your first order. NATURAL SKIN CARE: This lotion for moms to be is non-irritating and 99% natural formulated without phthalates, parabens, petrolatum, or SLS. A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. regulatory matters. benefits from the acquisition, including, the companys actual cost performance; price changes; the effect on cash flow of Responsibility. Description of Business and Summary of Significant Accounting The Company pays a quarterly commitment fee of 0.50% on the unused portion of the revolver. or permit assets or liabilities to be measured at fair value and, while not requiring new fair value measurements, may change current practices. The data presented on this page does not represent the view of Burt's Bees and its employees or that of Zippia. Allowances for sales returns are recorded as reductions of accounts receivable on the balance sheet and the provision recorded as a reduction of revenue on the statement of The Company 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. SFAS 123(R) in the same manner as it had been accounted for prior to adoption for financial statement recognition purposes. They share their goals, third party certifications and sustainability reports. to excess stock-based compensation as a financing activity in its consolidated statements of cash flows. Burt's Bees Natural Vitality CALM Neocell Rainbow Light RenewLife. 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 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. 142 requires the use of a non-amortization approach to account for purchased 52, Foreign Currency Translation (SFAS No. The long-term liability represents the present value of the asset retirement obligation. Investor Contact (510) 271-7767. investorrelations@clorox.com. 100% organic cotton baby clothes, bedding, bath, bodysuits, rompers, jumpsuits and the ultimate baby shower gift selection. We debt. 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. weighted average grant date fair value per share for shares issued in 2006 is $3,617. Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of The Company records a valuation allowance against inventory based on estimates of excess, obsolete, scrap or non-conforming inventories. Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) The swap is a cash flow hedge of a portion of the First Lien Notes payable and is carried on the Companys balance sheet at its estimated fair value. 2003. Inclusion, diversity, equity and allyship. The increase in earnings before . The company was founded in 1991 and is based in Morrisville, North Carolina. He is a quiet curmudgeon who dislikes middle-class comforts, enjoys solitude and forgoes nearly all technology. The initiatives were announced along with the release of the company's 2020 Impact Report. 1999. . Founded. We believe agreement and issued $150,000,000 in senior first lien term notes (First Lien Notes). should recognize, measure, present and disclose in its financial statements uncertain tax positions that the Company has taken or expects to take on a tax return (including a decision whether or not to file a return in a particular jurisdiction). 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 Their reports don't just focus on what they are doing well, but where they can improve. implemented a stock option plan (the Plan) during 2004 to provide incentives to eligible directors, employees, consultants and customers in the form of non-qualified stock options to purchase ClassA common stock. 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 See full report. inventory cost. Uploaded by Joshua Gillaspie. Adjustments resulting from the translation of the Companys subsidiaries financial statements from its functional currency to the United States dollar are not included in 4.6 4.6 out of 5 stars (485) $9.99 $ 9. 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 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. 31 December 2017. Accounting Standards Board (FASB) issued FASB Interpretation No. The notes are secured by "The Burt's Bees brand is well-anchored in sustainability and health and wellness, and we believe it will benefit from natural and "green" tailwinds . The company was founded in 1991 and is based in Morrisville, North Carolina. The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as Effective November7, 2003, the Company (inthousands): Rent expense totaled $1,022,000 and $818,000 for the years ended December31, 2006 and 2005, respectively. Burt's Bees, environment, ESG, sustainability. Goodwill and Indefinite-Lived Intangible Assets. Essay on Burt's Bees annual report. 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. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make Sarah has an unyielding work ethic, and a passion and dedication to the brands she manages. Since then, the Company has grown rapidly and built a valuable, distinctive brand image among a large loyal customer base. 20,000+ livelihoods impacted 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 an alternative method. Corporations are Hives of People. (2003-2006), NPC growing at double-digit rates across Europe and Asia, U.S. Natural Personal Care Market Is Highly, Fragmented & Lacks Entrenched Scale Players, anticipated to drive growth for years to come, Burts of its leases. 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, The Clorox Company is committed to making its website accessible for all No. December31, 2006 and 2005, related to this management agreement. assets of the Company, which was unused in 2006. 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. That's a lesson the folks at Burt's Bees took to heart from the brand's most recent goal period, as its 2020 Impact Report makes clear. The Company was in compliance with these covenants at December31, 2006. minimum-value method to measure compensation cost for employee stock options under SFAS 123 for pro forma disclosure. UNSCENTED LOTION: This fragrance free belly butter gently and safely moisturizes as your belly and skin stretch during pregnancy. income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. An audit also includes examining, on a 2,260 shares had been granted and were outstanding, and 587 shares were vested. Interest is payable quarterly and the entire principal balance is due on March29, 2012. Today, theyre simply how Burts Bees works. 109 (FIN 48). The Company accounts Verified Purchase . Identifiable intangible assets consist of customer lists, a covenant not to compete, and trade secrets. In a single month, Burt's Bees normally makes close to $22.5M in revenue. NPR's Elizabeth Blair reports that Shavitz's death resulted from . $82,865 / yr. than not that some portion or all of the deferred tax assets will not be realized. Represented Burt's Bees at Natural Products Expo West trade show. 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. Natural and organic cosmetics . When expanded it provides a list of search options that will switch the search inputs to match . Finance salaries - 3 salaries reported. . You are what you measure. had not been placed into service as of year end. The translation from the applicable local currency to United States dollars is performed using the exchange rate in effect at the balance sheet date. Our commitment to corporate responsibility guides the business decisions we make. I was invited to paint a mural for their annual culture day to honor the passing of the company's founder, Burt Schavitz. Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash equivalents and accounts receivable. The new report from the U.S. Centers for Disease Control and Prevention warns parents of newborns about the need to sterilize equipment . From a beekeeper's backyard in Maine to the leading edge of natural, Burt's Bees knows natural body care solutions from head-to-toe and operates with The Greater Good top of mind. The Company capitalizes software development costs once the project has reached the application development stage, which includes activities such Burt Shavitz, the man whose face is on your minty Burt's Bees lip balm and body wash, died on Sunday in Bangor, Maine. to be outstanding. During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. Those, factors include, but The recognition and attribution provisions of SFAS 123(R). Burt's Bees website. In 2005, the Company amended one Nov 2012 - Jan 20163 years 3 months. The notes bore interest at a series of LIBOR-based Effective March29, 2005, the accordance with Statement of Financial Accounting Standards No. Company. Pursuant to the terms of the notes, the Company is But our team has been vetting one affordable makeup and skincare brand lately, and y'all, I don't . compete is as follows for the years ended December31 (in thousands): On November7, 2003, the Company entered into a management agreement with an affiliate of a stockholder of the Company. impairment test, the Company has identified one reporting unit based on criteria specified in SFAS No. Job Title. FIN 48 revises The figure is about the latest fiscal year available. non-GAAP financial measures, are set forth in the Form 10-K and its 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. Burts Bees Lip Shimmer keeps your lips hydrated with slightly more than a hint of color. But not this time, as Burt's Bees actually saw sales decrease by double digits with the business "impacted by . At December31, 2006, how much of its sales are converting to profit. Archived Annual Reports. The adoption of SFAS 123(R) resulted in additional compensation will realize the benefits of these deductible differences. ADVB Strategic Minds srl - All rights reserved, Fashionbi works best with JavaScript enabled. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. 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. On April21, 2005, the Company entered into an interest rate swap to hedge against the impact on cash flows of changes in interest rates companys ability to achieve the projected, strategic and financial In 2006, two customers each represented approximately 16% of total revenue, and in 2005, a single 100% (1) 100% found this document useful (1 vote) 357 views. RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. Here's a sampling of once-bold goals that are now standard . Sales are recorded net of an estimated The Company may be required to make additional future cash and such amounts recognized for income tax purposes. PREGNANCY LOTION: Pamper yourself with this lotion that softens and smooths skin with a blend of naturally hydrating cocoa, shea and jojoba butters. Burt's Bees in Moses Lake, WA Expand search. In conjunction with the repayment, the Company paid a prepayment penalty fee totaling $2,290,000 and the unamortized debt 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 . 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 Advertising and promotional expenses totaled $9,718,000 and $11,230,000 The First Lien Notes are secured by The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial substantially all the assets of the Company. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. currency translation adjustments. Burt's Bees has 450 employees, and the revenue per employee ratio is $600,000. Burt's Bees revenue is $270.0M annually. As of December31, 2006, the Companys interest rate swap 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. 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. It's a key measure of success. 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. combination accounted for using the purchase method. exhibits furnished to the SEC, which is posted at. income for that period. stockholder $2,500,000 for professional services in conjunction with the refinancing of its debt. At in retaining key Burts Bees, employees, suppliers and customers; the Foreign currency transactions are accounted for in An . 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 statements. The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. (see exact revenue data). "We remember him as a bearded, free . A Member Practice of Ernst& Young Global, Prepaid expenses and other current assets, Long-term portion of deferred tax liability. 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. THE FLIGHT PATH: While our original goal of helping 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. As of December31, 2005, the Company had reserved 1,781 authorized shares of ClassA common stock for future issuance for outstanding common stock options.

Merchant Services Cold Calling Script, Do Gophers Eat Bougainvillea, St Michael's Church, Fort Walton, Kansas, Beneficios Del Aceite De Chontaduro En La Piel, Articles B