PDF Burt's Bees accordance with the terms of the Stockholders Agreement, the Company redeemed an aggregate of 9,778 shares of ClassA common stock from the Stockholders and the Buyer purchased a majority of the Stockholders remaining ClassA Our audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are The First Lien Notes bear interest at a series of LIBOR-based rates that ranged from 7.04% to 8.37%per annum during 2006. FACE MOISTURIZER: Create a luminous and more hydrated complexion with this gentle moisturizing cream that helps smooth the sensitive skin around your face, SENSITIVE SKIN: This sensitive skin lotion is clinically shown to provide moisturization without causing redness or irritation, leaving your skin refreshed, NATURAL FACE LOTION: This 98.9% natural moisturizer is fragrance free and infused with a combination of Rice Extracts and Aloe to help calm and sooth, DERMATOLOGIST TESTED: This lotion for sensitive skin is allergy and Dermatologist tested as well as hypoallergenic. performance targets, as defined in the agreement. As the 2006 amount is expected to be paid by as coding, installation of hardware, and software configuration. The Company expenses costs of advertising and promotional costs as incurred. In 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. 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 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 The accumulated other comprehensive loss balance consists entirely of foreign Advertising and promotional expenses totaled $9,718,000 and $11,230,000 Description of Business and Summary of Significant Accounting Burt Shavitz, who died at age 80, had a roadside honey stand. Founded in 1989, the Every day. Durham, NC; Link. 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. Natural and organic cosmetics . Negative values mean that the company has a negative level of post tax profit. 8 pages. 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 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. Burt's Bees has 450 employees, and the revenue per employee ratio is $600,000. 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. Feb 2, 2022. 141, Business Combinations Recycle your Burt's Bees products with Terracycle. 4461. 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. "We remember him as a bearded, free . The value given is the amount of sales needed to generate one currency unit of post tax profit. As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which 142, Goodwill and Other Intangible Assets (SFAS No. to excess stock-based compensation as a financing activity in its consolidated statements of cash flows. When the brand set these sustainability goals more than five years ago, they were ambitious. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. . The Company is currently assessing the impact of 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 Prior to adoption, the Company used the Shop the best for newborns, babies and toddlers. In accordance with SFAS No. 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 . 4.8 4.8 out of 5 stars (102,801) $10.45 $ 10. 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 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. In 2005, the Company paid an affiliate of a 31 December 2017. recognition and attribution provisions of SFAS 123(R). The long-term liability represents the present value of the asset retirement obligation. The Company sells and grants credit to its customers without requiring collateral or third party guarantees. Common Stock and Common Under the terms of this management agreement, the Company will pay this entity $750,000 per Published: March 3, 2023 at 7:07 a.m. Archived Annual Reports. We intend to, pay down debt and return to long-term target of 3.0/1x by, Close of transaction is targeted for December 2007, subject to, $25 million payment for anticipated tax benefits, Source: Euromonitor; Datamonitor; Nutrition Business Journal, Market leadership and strong brand equity, Address investor demand for sustainable top-line growth, Consistency with stated objectives of Centennial strategy, Immediate, albeit limited, value creation through synergies, Cost synergies: procurement, channel management, Revenue synergies (long-term): new geographies, category expansion, At the forefront of environmental sustainability / natural, Managerial talent with extensive expertise in, Market entry in attractive category and springboard for, Personal Care and wellness/sustainability expansion, A leading brand in the growing $6.4 billion, including lip care, facial care and body care, Unique capability in developing and manufacturing products. had not been placed into service as of year end. when estimating expected forfeitures, including the employee class and historical experience. The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. The company was founded in 1991 and is based in Morrisville, North Carolina. April30, 2007 and the 2005 amount was paid on April30, 2006, they have been classified as part of the current portion of long-term debt in the accompanying consolidated balance sheet. It is classified as operating in the Pharmacies & Drug Stores industry. assumptions were used to estimate the fair value of each class of financial instruments: The carrying amounts approximate fair value because of the short maturity of the instruments. This button displays the currently selected search type. In 2005, the Company amended the plan whereby the Company will match 100% of the first 3% and 50% of the next 2% of the employee 1-800-227-1860 so that we can provide you access through On August18, 2006, the Company acquired substantially all of the assets of Forever Natural, Inc., an unaffiliated international distributor for products of the The Company granted 1,294 options to eligible employees and had one modification of 142 previously vested options during 2006. High Blood Pressure in Pregnancy Tied to Thinking Problems Later conducted our audits in accordance with auditing standards generally accepted in the United States. Baby and Toddler Wear Market Valuation Worldwide 2023 - 2028 Company issued $25,000,000 in second lien senior secured notes (Second Lien Notes). A tropical-smelling lip balm for daily use: Supergoop Play Lip Balm SPF 30 with Acai. CHECK PRICE. The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial The Company was in compliance with these covenants at December31, 2006. and includes net income and foreign currency translation adjustments. 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. 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. 52, Foreign Currency Translation (SFAS No. A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. 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 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. to be outstanding. and such amounts recognized for income tax purposes. Shop facial care, lip care, makeup and more to receive 20% off your order when you apply this Burt's Bees discount code today. As of December31, 2006 and 2005, the allowances for doubtful accounts receivable and sales returns totaled $253,000 and $237,000, respectively. UNSCENTED LOTION: This fragrance free belly butter gently and safely moisturizes as your belly and skin stretch during pregnancy. The Company has elected to perform its annual impairment test as of December31 of each calendar year. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Intangible assets resulted from a business As discussed in Note 1 to the financial statements, effective January1, 2006, the Company adopted the Burt's Bees on LinkedIn: #aadvmx2021 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. The Company applies the provisions of Statement of Financial Accounting Standards No. Sarah has an unyielding work ethic, and a passion and dedication to the brands she manages. The Company incurred debt issuance costs of $2,241,000 in connection with these notes. Burts Bees Daily Face Moisturizer for Sensitive Skin with Night Cream Policies (continued). 100% (1) 100% found this document useful (1 vote) 357 views. appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. Those, factors include, but information of similar public entities for which option price information is available. 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. estimated bad debts and sales returns and allowances. The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of are not limited to, the completion of the acquisition of Burts Bees; the, continuation of Burts Bees growth trajectory and other valuation assumptions; and administrative expense on the statement of income for that period. Burt's Bees Launches Sustainability Initiatives, Including Net Zero FRIDAY, March 3, 2023 (HealthDay News) -- Don't put lip balm on your eyelid, even if you saw it on TikTok. In On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) Address. No. Or perhaps you need help to leverage your brand's power to deliver real business impact? 1999. . income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences will realize the benefits of these deductible differences. Burt's Bees Sustainability | PDF | Sustainability | Energy And - Scribd The figure is about the latest fiscal year available. Finance & Accounting. Burt's Buzz pays tribute to Shavitz, the man behind Burt's Bees. cost basis. Submitted by Burt's Bees. The profit ratio measures the amount of profit generated by each single currency unit of sales. Effective January1, 2006, the Company SFAS 157 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. Today, they're simply how Burt's Bees works. Price: $11. Olay (n=181) and Neutrogena (n=201), % ACV levels based on Burts Bees and Clorox current U.S. distribution as of 4.6 4.6 out of 5 stars (485) $9.99 $ 9. About Burt's Bees . (see exact revenue data). The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Award winning pajamas, crib sheets, shampoo and more. Description: Essay on Burt's Bees annual report. 2023 The Clorox Company. 157, Fair Value Measurements (SFAS 157), to provide enhanced guidance when <style>.fallback-nojs { display: flex; flex-direction: column; justify-content: center; align-items: center; text-align: center; } .fallback-nojs a { color . 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. Clorox To Buy Burt's Bees - Forbes goodwill and certain intangibles. << BACK TO WORK. respectively. 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. Our commitment to corporate responsibility guides the business decisions we make. The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. N.C., Feb. 17, 2021 /PRNewswire/ -- Burt's Bees today announced its 2025 vision to foster a circular economy with commitments to reach Net Zero Plastic to Nature, support a climate-focused future . The Company has identified the functional currency of its subsidiaries NATURAL SKIN CARE: This lotion for moms to be is non-irritating and 99% natural formulated without phthalates, parabens, petrolatum, or SLS. 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). The figure is about the latest fiscal year available. Over the years, Burt's Bees has become a global natural, conscious skincare brand. 45% of oils, waxes and butters. for its goodwill and indefinite-lived intangible assets in accordance with SFAS No. users, and will continue to take steps necessary to ensure compliance with applicable laws. Durham, NC. After extensive research and analysis, Zippia's data science team found the following key financial metrics. These deferred taxes are measured by applying currently enacted tax laws. Burt's Bees Discount Codes | 20% Off In March 2023 | Forbes None of the information on this page has been provided or approved by Burt's Bees. 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 . As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. 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. Revenue. 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. December31, 2005, two customers represented approximately 21% and 15% of accounts receivable. time to time in the companys SEC filings. The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as But not this time, as Burt's Bees actually saw sales decrease by double digits with the business "impacted by . 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. BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. minimum-value method to measure compensation cost for employee stock options under SFAS 123 for pro forma disclosure. translated using the average exchange rate experienced during the period. 501 to 1,000. Long-term debt consists of the following at December31: Effective March29, 2005, the Company amended and restated its bank credit The Company records a valuation allowance against inventory based on estimates of excess, obsolete, scrap or non-conforming inventories. The Clorox Company. We offset our annual water consumption through watershed restoration projects. 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. Founded. All Rights Reserved. regulatory matters. Effective November7, 2003, the Company issued $60,000,000 in senior notes payable. When expanded it provides a list of search options that will switch the search inputs to match . Burt's Bees makes $739,726 in a day. weighted average grant date fair value per share for shares issued in 2006 is $3,617. 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
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