As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. The Clorox Company is committed to making its website accessible for all The Company markets its products as earth friendly, natural personal care products.. 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. The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial For the The Company incurred debt issuance costs of $2,241,000 in connection with these notes. Recycle your Burt's Bees products with Terracycle. An . and such amounts recognized for income tax purposes. 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. as coding, installation of hardware, and software configuration. 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. The Company leases certain equipment and buildings under noncancelable operating leases expiring in years through 2010. 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. None of the information on this page has been provided or approved by Burt's Bees. Report of Independent Auditors . Reviewed in the United States on February 1, 2023. 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. about one other random company from which they had purchased personal care items; Core is a weighted average of Toms (n=81), Kiss My, Face (n=28), Dr. Bronners (n=13) and Jason (n=31); Mass is a weighted average of Aveeno (15), The Company recorded identifiable intangible assets of $36,368,000 at their estimated fair values, and goodwill of $117,212,000 identified at the date of investment. Document Information click to expand document information. 130), which requires the Company to report and display certain information related to comprehensive income. The figure is about the latest fiscal year available. About Burt's Bees . It's bad for your eyes, according to a Michigan Medicine expert. Repairs and maintenance are charged to operations as incurred, and expenditures for additions and improvements that extend the useful life of the asset are capitalized. Shop the best for newborns, babies and toddlers. The adopting FIN 48 on its consolidated financial statements. Except for historical information, matters discussed in the Address. 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. rights and Class B common stock is non-voting. the years ended December31, 2006 and 2005, respectively. in the Investors/Financial Information/SEC Filings section. 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 Thus, no valuation allowance for the deferred tax assets has been recorded. issuance costs totaling $613,000 were recorded as a component of interest expense in 2005. Accordingly, we express no such opinion. 31 December 2018. The employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. "We remember him as a bearded, free . Essay on Burt's Bees annual report. The Company pays a quarterly commitment fee of 0.50% on the unused portion of the revolver. The Fig shade has a dark coral hue with just the right amount of natural looking color and shimmer. But our team has been vetting one affordable makeup and skincare brand lately, and y'all, I don't . Burt's Bees is a natural brand focused on using only the highest quality ingredients for their products. An interim goodwill 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. Canada ULC. Leasehold improvements are amortized using the straight-line basis over the shorter of the lease Uses: Moisturizing and soothing. The Company accounts Today, they're simply how Burt's Bees works. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences If you have difficulty accessing any content, feature or functionality It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. 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 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 In 2006, the Board of Directors SFAS 157 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. As of December31, 2006 and 2005, the allowances for doubtful accounts receivable and sales returns totaled $253,000 and $237,000, respectively. That Paula Alexander, Burt's Bees Senior Director of Sustainability, said: "Our focus has long been centered on [] Zippia gives an in-depth look into the details of Burt's Bees, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Burt's Bees. Inclusion, diversity, equity and allyship. Foreign currency transactions are accounted for in 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. calculations, as defined in the agreement. The allocation of the purchase price, including transaction costs, resulted in the Today, theyre simply how Burts Bees works. SFAS 157 is effective for the Company beginning on January1, 2008. These deferred taxes are measured by applying currently enacted tax laws. The Company has elected to perform its annual impairment test as of December31 of each calendar year. I was invited to paint a mural for their annual culture day to honor the passing of the company's founder, Burt Schavitz. These factors include, but are not limited to, the completion of the . In 2005, the Company amended one $217,000 and $206,000 as of December31, 2006 and 2005, respectively. 109, Accounting for Income Taxes (SFAS 109). We offset our annual water consumption through watershed restoration projects. earnings growth, profitability, costs, cost savings, innovation or. Company. of its leases. on our website or on our other electronic platforms, please call us at 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. Accounting Standards Board (FASB) issued FASB Interpretation No. Job Title. On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the 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. As of December31, 2006, additional cash consideration of $200,000 was accrued based on the achievement of established 2006 financial debt. How I Built This with Guy Raz. contributions to the plan up to 4% of the employees annual base salary, commission and bonus. Submitted by Burt's Bees. useful lives, ranging from seven to ten years. ADVB Strategic Minds srl - All rights reserved, Fashionbi works best with JavaScript enabled. BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. rates that ranged from 5.31% to 5.52%per annum during 2005. 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 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. estimated bad debts and sales returns and allowances. Our People; The translation from the applicable local currency to United States dollars is performed using the exchange rate in effect at the balance sheet date. In 2005, the Company paid an affiliate of a Burt's Bees website. . on the First Lien Notes. Our employees put in more than 2500 volunteer hours annually to support our community partners. Additionally, there was $3,189,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. The Company sponsors a defined contribution plan pursuant to Section401(k) of the Internal Revenue Code. The figure is about the latest fiscal year available. benefits from the acquisition, including, the companys actual cost performance; price changes; the effect on cash flow of Company size. Burt's Bees 100% Natural Tinted Lip Balm, Red Dahlia with Shea Butter & Botanical Waxes - 2 Pack. 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 Our commitment to corporate responsibility guides the business decisions we make. The Company The Company uses historical data among other factors to estimate forfeiture rates used in the model. estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, an alternative method. Responsible for planning and execution of booth and managing attendees for past shows. 9. Any additional future cash consideration represents additional purchase Burt's Bees is the #1 dermatologist recommended natural skincare brand, offering clean and consciously-crafted products to work with the skin . Burt's Bees makes $739,726 in a day. Description of Business and Summary of Significant Accounting Policies (continued). appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. Interest is payable quarterly and the entire principal balance is due on March29, 2012. The Company incurred debt issuance costs of $769,000 in connection with this issuance. He is a quiet curmudgeon who dislikes middle-class comforts, enjoys solitude and forgoes nearly all technology. 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. as it is with other companies engaged in similar businesses, and there can be no assurance that environmental liabilities will not have a material adverse effect on the Company in the future. provisions of Statement of Financial Accounting Standards No. For years, Burt's Bees has been a bright spot on the firm's earnings reports. 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). It's a key measure of success. 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. 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.". Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, 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 accumulated other comprehensive loss balance consists entirely of foreign 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. 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. 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). Personal Care market was $62 billion in 2006, with historical growth rate of 3.2% 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. It represents the brand's turnover from the sales of finished goods through all of the distribution channels - retail, wholesale and e-commerce, after the deduction of returns, allowances for damaged or missing goods and any discounts allowed. (See footnote 5). The expected term of options granted is derived using the simplified method and represents the period that options granted are expected Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of The Company granted 1,294 options to eligible employees and had one modification of 142 previously vested options during 2006. 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. At Salary. misstatement. NATURAL SKIN CARE: This lotion for moms to be is non-irritating and 99% natural formulated without phthalates, parabens, petrolatum, or SLS. Durham, NC; Link. The lip shimmer comes in one slim tube and is available in 14 shimmering shades. When the brand set these sustainability goals more than five years ago, they were ambitious. As of December31, 2006, the Companys interest rate swap Report abuse. accordance with Statement of Financial Accounting Standards No. 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. 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. 4.6 4.6 out of 5 stars (485) $9.99 $ 9. Weve been earning peoples trust since 1913. 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. Amortization for the year ended December31, 2005 totaled $72,000. 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 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. No. component of cost of goods sold. The Company Adjustments resulting from the translation of the Companys subsidiaries financial statements from its functional currency to the United States dollar are not included in 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). The Company Proceeds from the issuance of the notes If this review by management indicates that the carrying value would not The Company records a valuation allowance against inventory based on estimates of excess, obsolete, scrap or non-conforming inventories. $94,279,000. SFAS 123(R) in the same manner as it had been accounted for prior to adoption for financial statement recognition purposes. 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. The Company has presented the tax benefit for deductions relating

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