Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. interest coverage ratios, fixed charge coverage ratios, and leverage ratios. 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 Amortization expense related to the warrants for the For purposes of performing the goodwill The lip shimmer comes in one slim tube and is available in 14 shimmering shades. The Company has presented the tax benefit for deductions relating We are CarbonNeutral certified. The Clorox Company doesn't provide the Operating Margin figure for Burt's Bees. NPR's Elizabeth Blair reports that Shavitz's death resulted from . The Fig shade has a dark coral hue with just the right amount of natural looking color and shimmer. 8 pages. These FRIDAY, March 3, 2023 (HealthDay News) -- Don't put lip balm on your eyelid, even if you saw it on TikTok. These identifiable intangibles are amortized on a straight-line basis over their estimated Long-term debt consists of the following at December31: Effective March29, 2005, the Company amended and restated its bank credit 9. Document Information click to expand document information. 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 During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. 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), 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. In 2006, the Board of Directors 501 to 1,000. escalation clauses and renewal options as outlined in the agreements. Focused on delivering long-term investor returns through a committment to ESG. 130), which requires the Company to report and display certain information related to comprehensive income. Burt's Bees Lip Balm Pink Grapefruit Blister 48/0.15oz 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. The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. issued by the Burt's Bees Foundation to protect biodiversity and reconnect people to nature. These deferred taxes are measured by applying currently enacted tax laws. Description of Business and Summary of Significant Accounting 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. consolidated financial statements from the date of acquisition. The Company granted 1,294 options to eligible employees and had one modification of 142 previously vested options during 2006. These financial statements are the Case Study: Burt's Bees | Bazaarvoice It's a measure of a company's overall profitability, i.e. Stock Reserved for Future Issuance. 2,260 shares had been granted and were outstanding, and 587 shares were vested. The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Buzzkill: Don't Try the Burt's Bees TikTok Trend Infant Death Linked to Contaminated Breast Pump: CDC The Company is currently assessing the impact of Burt's Bees Releases 2018 Progress Update on 2020 Sustainability Goals 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. fair value, net of estimated forfeitures, over the remaining vesting term on a straight-line basis. 142, Goodwill and Other Intangible Assets (SFAS No. 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 The Company monitors customers payment history and establishes reserves for differ materially, from managements expectations are described in the income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. The Company amortizes the By Liz Thach, MW Contributor Nov 6, 2022 It's bad for your eyes, according to a Michigan Medicine expert. As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. December31, 2006 and 2005, related to this management agreement. strategy, culture, and execution track record, which we intend to Financial Results | CHANEL The employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. Shipping and handling costs related to goods received are capitalized as a component of THE FLIGHT PATH: While our original goal of helping We offset our annual water consumption through watershed restoration projects. The value of the warrants was recorded as a discount Naturally, when they planned to break into a new product category, consumer content was a critical element of their strategy. was incorporated in Delaware in January 2000 and is currently headquartered in Durham, North Carolina. Accounts receivable are derived from revenue The 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. 31 December 2019. Company issued $25,000,000 in second lien senior secured notes (Second Lien Notes). When expanded it provides a list of search options that will switch the search inputs to match . the swap matures on March31, 2008. $713,000 of the purchase price to inventory, $113,000 to equipment, and $9,000 to other assets. useful lives, ranging from seven to ten years. 31 December 2018. An . Burt's Bees is an interesting case, which discusses the success story of an all natural skin care company. The adoption of SFAS 123(R) resulted in additional compensation 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 . Success Story of Burt's Bees Late Cofounder Burt Shavitz - Business Insider Proceeds from the issuance of the notes 142. tax. As discussed in Note 1 to the financial statements, effective January1, 2006, the Company adopted the The Company markets its products as earth friendly, natural personal care products.. 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. 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. provisions of Statement of Financial Accounting Standards No. 2005. At December31, 2006, two customers represented approximately 27% and 14% of accounts receivable. RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. The Company deposits its cash and cash equivalents in domestic is the estimated amount that the Company would receive to terminate the agreement at the reporting date, taking into account current interest rates. Shop our selection of Burt's Bees natural personal care products, including skin care products, lip balms, lip colour products, soaps, lotions, natural baby products, and more. The Companys existing recorded assets and liabilities were deemed to approximate at fair value at the date of investment, and the balance sheet did not change significantly between the transaction date and December31, The accumulated other comprehensive loss balance consists entirely of foreign users, and will continue to take steps necessary to ensure compliance with applicable laws. US Careers | The Clorox Company 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. The Company sponsors a defined contribution plan pursuant to Section401(k) of the Internal Revenue Code. Interest payments on the notes were due quarterly and principal was payable on November7, 2010. Burt's Bees Financials | Fashionbi An audit also includes examining, on a Burt's Bees Lip Balm, Moisturizing Lip Care Valentine's Gift for Men & Women, 100% Natural, Original Beeswax with Vitamin E & Peppermint Oil 0.15OZ 4.25g 2 Tubes No reviews 780 780 1,200 1,200 (35% off) Additionally, the Company allocated In 2005, the Company paid an affiliate of a Bees Market Share by Category, Natural Food Channel, Source: Clorox Commissioned US Consumer Survey (n=1022). 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. 52, Foreign Currency Translation (SFAS No. Manufacturing. Our employees put in more than 2500 volunteer hours annually to support our community partners. Star rating: 4.8/5 Potential allergens: Glycerin Active ingredients: Cotton extract. Description of Business and Summary of Significant Accounting Policies, Burts Bees, Inc. (the Company) is a manufacturer of natural personal care products. The Company has identified the functional currency of its subsidiaries From honeycomb to production line, we explore how this beloved natural product i. 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. $170 million (est.) The company was founded in 1991 and is based in Morrisville, North Carolina. Personal Care market was $62 billion in 2006, with historical growth rate of 3.2% Our commitments to social and environmental sustainability. Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. Founded in 1989, the NATURAL SKIN CARE: This lotion for moms to be is non-irritating and 99% natural formulated without phthalates, parabens, petrolatum, or SLS. Interest is payable quarterly and the entire principal balance is due on March29, 2012. All Rights Reserved. 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. Except for historical information, matters discussed in the Lip balm/treatment brand sales U.S. 2019 | Statista income for that period. ClassA common stock has voting Uploaded by Joshua Gillaspie. Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) 10 Entertaining Business Documentaries Entrepreneurs Can Learn From 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. 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. The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial The company was founded in 1991 and is based in Morrisville, North Carolina. year ended December31, 2006 and 2005 totaled $0 and $72,000, respectively. Burt's Bees in Moses Lake, WA Expand search. in the Investors/Financial Information/SEC Filings section. the carrying value accordingly. View Data as Table. Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. Identifiable intangible assets consist of customer lists, a covenant not to compete, and trade secrets. Future minimum lease payments, by year and in the aggregate, under operating leases with remaining terms of one year or more consisted of the following at December31, 2006 Burt's Bees Inc - Company Profile and News - Bloomberg Markets 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 and such amounts recognized for income tax purposes. It is an unusual concept but the founder Roxanne Quimby saw the market for such a product and immediately started acting upon this opportunity to create the best skin care company in the world. The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. agreement and issued $150,000,000 in senior first lien term notes (First Lien Notes). Burt's Bees website. 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. Under the terms of this management agreement, the Company will pay this entity $750,000 per Thank you! Additionally, there was $3,189,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. You had to clip coupons, scour the web for deals, and wait around for annual sales to pick up new things or old favorites. Formulated without parabens, phthalates . A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. Here's a sampling of once-bold goals that are now standard . the years ended December31, 2006 and 2005, respectively. Company. Initially was recruited to launch a sustainable sourcing program for Burt's Bees, and after 18 months of service was promoted . 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). Supplemental information regarding acquisition - SEC Burt's Bees Sustainability. 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 Amazon.ca: Burt's Bees Important factors that could cause results to assets of the Company, which was unused in 2006. The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of "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 . Burt's Bees revenue is $270.0M annually. Burt's Bees - Overview, News & Competitors | ZoomInfo.com Revenue. Leasehold improvements are amortized using the straight-line basis over the shorter of the lease 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. This prepayment permanently reduces the First Lien with foreign operations as the applicable local currency. when estimating expected forfeitures, including the employee class and historical experience. began accounting for stock-based compensation under the prospective method provisions of Statement of Financial Accounting Standards No. attached document, including, statements about the success of the In addition, the company offers body care products, including body washes and soaps, body moisturizers, and bath oils and bath crystals, as well as hand, foot, sun, and mens body care products; baby care products, including baby washes and soaps, baby moisturizers, diaper ointment and care products, and baby sun care products; and gift sets. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. Over the years, Burt's Bees has become a global natural, conscious skincare brand. The Clorox Company. But not this time, as Burt's Bees actually saw sales decrease by double digits with the business "impacted by . 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. We were not engaged to perform an audit of the Companys internal control over financial reporting. Recycle your Burt's Bees products with Terracycle. The Company has recorded a long term liability of approximately Or perhaps you need help to leverage your brand's power to deliver real business impact? She moved to Maine, built a cabin in the woods . 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. 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. We have struggled to meet our water reduction targets after increasing water use per mass unit of . Burts Bees Lip Shimmer keeps your lips hydrated with slightly more than a hint of color. $59,924 / yr. Finance Manager salaries - 2 salaries reported. 100% organic cotton baby clothes, bedding, bath, bodysuits, rompers, jumpsuits and the ultimate baby shower gift selection. 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. 1999. . Pursuant to the terms of the notes, the Company is These factors include, but are not limited to, the completion of the . Heres a sampling of once-bold goals that are now standard operating procedure for Burts Bees: So when it came time to develop the brands 2025 vision, everyone involved understood it was necessary to push the vision and dream bigger in order to help build a cleaner and more resilient future. Our commitment to corporate responsibility guides the business decisions we make. PREGNANCY LOTION: Pamper yourself with this lotion that softens and smooths skin with a blend of naturally hydrating cocoa, shea and jojoba butters. 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. When the brand set these sustainability goals more than five years ago, they were ambitious. It is effective for daily use and has been Awarded National Eczema Association Seal of Acceptance, BURTS BEES FACE CARE: Use this moisturizer daily as part of Burts Bees Sensitive Face Care 5 product regimen for a healthier looking complexion, naturally, 2 PACK LIP CARE: Apply Burts Bees Moisturizing Beeswax Lip Balm to nourish and hydrate your lips with a dash of peppermint, WITH PEPPERMINT OIL: Hydrate and sooth dry lips with beeswax and a dash of peppermint extract packed into every tube of Burts Bees Beeswax Lip Balm, SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long, ALL NATURAL: Enriched with 100% natural ingredients, this natural lip balm is formulated without parabens, phthalates, petrolatum or SLS, LIP BALM: Treat your lips to a spa retreat with this refreshing lip balm that naturally beautifies and revitalizes your lips, NIGHT CREAM: Help restore the delicate skin on your face with this nourishing Burts Bees night cream enriched with natural, anti-aging ingredients, NATURAL SKIN TREATMENT: This 98.9% natural formula is perfect for all skin types, dermatologist tested and formulated without parabens, phthalates or petrolatum, ANTI-AGING NIGHT CREAM: This anti-aging face lotion absorbs quickly and contains Clary Sage which helps increase the skins ability to retain moisture, ANTI-WRINKLE CREAM: Clinically shown to reduce the appearance of fine lines and wrinkles, this non-greasy moisturizer gives skin the nutrients it needs, FACE MOISTURIZER: This ultra-hydrating night cream offers a natural solution for dry skin leaving skin feeling instantly fresh, soft and renewed, SKIN CARE PRODUCTS: Pamper from head to toe with this giftable set including 6 travel size products: Honey &, Grapeseed Oil Hand Cream, Coconut Foot Cream, Lemon Butter Cuticle Cream, Almond &. In 2005, the Company amended one Burt's Bees Lip Shimmer - Fig - .09oz : Target 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. As of December31, 2005, the Company had capitalized $550,000 The Company analyzed its intangible assets as of December31, 2006 and 2005, and noted no indicators of impairment. - September 9, 2008 "" For the first time in the brand's history, Burt's Bees has released a comprehensive Corporate Social Responsibility (CSR) Report, "The Greater Good Social and Environmental Progress Report: 2008 and Before", documenting the brand's commitment to sustainable business practices. $217,000 and $206,000 as of December31, 2006 and 2005, respectively. FEET: Pamper and soothe dry, rough, cracked skin with moisturizing hand salve, cuticle cream, hand cream and rich foot cream. The figure is about the latest fiscal year available. 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). CSRWire - Burt's Bees Burt's Bees Burt's Bees: Are they Greenwashing? - Sustainably Savvy Inclusion, diversity, equity and allyship. Price: $11. 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. 109 (FIN 48). 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. Health and wellness is not only our past and present, it's our future. 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 increase in earnings before . Responsibility. BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. 5.0 out of 5 stars Perfect for sensitive skin. $1.5 million+ in grants and product donations. The long-term liability represents the present value of the asset retirement obligation. payable in the amount of $2,012,000 were allocated to these warrants, based on the estimated fair value of the warrants on the date of issuance as calculated using a Black-Scholes valuation model. SFAS 157 applies whenever other pronouncements require Milk Hand Cream, Hand Salve and Pomegranate Lip Balm. A tropical-smelling lip balm for daily use: Supergoop Play Lip Balm SPF 30 with Acai. What We Make How We Operate Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material Investor Contact (510) 271-7767. investorrelations@clorox.com. 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. Estimates of fair value are not intended to predict 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. All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, Any additional future cash consideration represents additional purchase " and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's Annual Report on Form 10-K for the year ended June 30, 2007, as updated from time to time in the company's SEC filings. Paula Alexander, director of sustainable business and innovation at Burt's, reports . Today, they're simply how Burt's Bees works. 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 . become deductible. Nov 2012 - Jan 20163 years 3 months. Accounting Standards Board (FASB) issued FASB Interpretation No.
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