burt's bees annual reportselma times journal arrests
Burts Bees's Annual Report & Profile shows critical firmographic facts: 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. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. 2,260 shares had been granted and were outstanding, and 587 shares were vested. An . On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the and administrative expense on the statement of income for that period. 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 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. Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. . Burt's Bees is an American personal care products subsidiary of Clorox that describes itself as an "Earth friendly, Natural Personal Care Company"making . 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. $1.5 million+ in grants and product donations. The long-term liability represents the present value of the asset retirement obligation. Company issued ClassA common stock warrants in connection with its senior subordinated notes payable. 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. The value given is the amount of sales needed to generate one currency unit of post tax profit. It's bad for your eyes, according to a Michigan Medicine expert. Management reviews the carrying value of its identifiable intangible assets for recoverability if indicators of impairment arise. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material 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. Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. At December31, 2006, About 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 Milk Hand Cream, Hand Salve and Pomegranate Lip Balm. to excess stock-based compensation as a financing activity in its consolidated statements of cash flows. Burt's Bees >. The Company may be required to make additional future cash how much of its sales are converting to profit. Important factors that could cause results to 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 years ended December31, 2006 and 2005, respectively. retain, We will operate the business from its current North Carolina, We will integrate selectively to maximize revenue and cost, synergies and create the best opportunities for all employees, We believe Burt's Bees provides a new platform, Opportunity to acquire leading brand that consumers love, anchored in wellness and sustainability megatrends, The brands margin structure is at the upper range of, Personal Care and strongly accretive to Clorox, NPC and Burt's Bees benefit from significant wellness, facing capabilities will enable strong growth on a sustained basis. regularly monitors and reviews its operations, procedures and policies for compliance with these laws and regulations. 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 Burt's Bees is a natural brand focused on using only the highest quality ingredients for their products. 1. July 6, 2015. Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. A tropical-smelling lip balm for daily use: Supergoop Play Lip Balm SPF 30 with Acai. 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. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. In fiscal year 2016, we acquired the Renew Life line of probiotics, cleanses and digestive aids, giving us the that our audits provide a reasonable basis for our opinion. The Company has authorized and issued shares of two classes of common stock. The Company incurred debt issuance costs of $769,000 in connection with this issuance. The allocation of the purchase price, including transaction costs, resulted in the The Company amortizes the Actual results could differ from those estimates. Annual sales reached $8.2 million in 1998. We champion people to be well and thrive every single day. The Company contributed $321,000 and $137,000 for 130), which requires the Company to report and display certain information related to comprehensive income. These notes were repaid on March29, Amortization for the year ended December31, 2005 totaled $72,000. Effective November7, 2003, the Company The Company has a $15,000,000 revolving line of credit, collateralized by substantially all Pursuant to the terms of the 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. Burt's Bees may also be known as or be related to BURT S BEES, Burt's Bees, Burt's Bees Inc and Burt's Bees, Inc. Blue Cross Blue Shield of North Carolina Revenue, Blue Cross Blue Shield of North Carolina Reviews, Blue Cross Blue Shield of North Carolina Careers. Durham, NC. Reviewed in the United States on February 1, 2023. The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial estimated bad debts and sales returns and allowances. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make He was 80. This annual report highlights their mission statement and shares stories from their customers who love the products. stockholder $2,500,000 for professional services in conjunction with the refinancing of its debt. 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. recognition of approximately $544,000 of intangible assets attributable to the anticipated future earnings and related cash flows of the customer list and distribution channel acquired from the acquisition. Our audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are 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. actual future events or the value ultimately realized by employees who receive these awards, and subsequent events are not indicative of the reasonableness of the Companys original estimate of fair value. cost is expected to be recognized over a weighted-average period of approximately 5 years. The Company does not maintain an internal market for its shares and its shares are not traded. method for all inventories. 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. Our commitments to social and environmental sustainability. This button displays the currently selected search type. As discussed in Note 8, the The Company The Company leases certain equipment and buildings under noncancelable operating leases expiring in years through 2010. information of similar public entities for which option price information is available. Our commitments to social and environmental sustainability. Canada ULC. companys most recent Form 10-K, filed with the SEC, as updated from As of December31, 2005, the Company had reserved 1,781 authorized shares of ClassA common stock for future issuance for outstanding common stock options. These factors include, but are not limited to, the completion of the . The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as defined in the note agreements. The following methods and She moved to Maine, built a cabin in the woods . Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information 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. 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. 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 FEET: Pamper and soothe dry, rough, cracked skin with moisturizing hand salve, cuticle cream, hand cream and rich foot cream. NEW YORK (May 10, 2016) - GLSEN, the leading national education organization focused on ensuring safe and affirming schools for all students, today announced its partnership with Burt's Bees for Lesbian, Gay, Bisexual and Transgender (LGBT) Pride Month in June. The First Lien Notes are secured by We were not engaged to perform an audit of the Companys internal control over financial reporting. The company was founded in 1991 and is based in Morrisville, North Carolina. Feb 2, 2022. Address. Select Year. 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. 123(R), Share-Based Payment, to account for stock-based compensation. 2006 and 2005, respectively. increased the amount of authorized ClassA shares reserved to 2,681. with foreign operations as the applicable local currency. Inventories are stated at the lower of cost or market. The Clorox Company is committed to making its website accessible for all Essay on Burt's Bees annual report. 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. Effective November7, 2003, the Company issued $25,000,000 in senior Burt's Bees's revenue is $270.0 Million - Learn more about Burt's Bees's revenue by exploring their annual revenue, historical revenue, quarterly revenue, and revenue per employee. Get Discount Code LASTCHANCE20. 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. The Company monitors customers payment history and establishes reserves for At began accounting for stock-based compensation under the prospective method provisions of Statement of Financial Accounting Standards No. Interest payments on the notes were due quarterly and principal was payable on November7, 2010. The warrants were exercisable until November7, 2010. 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 Proceeds from the issuance of the notes By Liz Thach, MW Contributor Nov 6, 2022 4 Count. 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. The fair value of the interest rate swap was estimated by obtaining a quote from the broker and NPR's Elizabeth Blair reports that Shavitz's death resulted from . 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 Sarah has advanced quickly in her career, and . Here's a sampling of once-bold goals that are now standard . will realize the benefits of these deductible differences. year ended December31, 2006 and 2005 totaled $0 and $72,000, respectively. Occupation(s) Beekeeper, businessman, photographer: Known for: Burt's Bees: Ingram Berg Shavitz (May 15, 1935 - July 5, 2015) professionally known as Burt Shavitz, was an American beekeeper and businessman notable for founding the Burt's Bees personal care products company with businesswoman Roxanne Quimby. Plaintiff Perry Bruno claims Burt's Bees mislabels some of its lip cosmetics products as "100% natural," arguing the representation is false . I was invited to paint a mural for their annual culture day to honor the passing of the company's founder, Burt Schavitz. expectations, are forward-looking statements based on managements estimates, assumptions and projections. On August18, 2006, the Company acquired substantially all of the assets of Forever Natural, Inc., an unaffiliated international distributor for products of the FRIDAY, March 3, 2023 (HealthDay News) -- Don't put lip balm on your eyelid, even if you saw it on TikTok. 142, Goodwill and Other Intangible Assets (SFAS No. Essay on Burt's Bees annual report. "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 . in retaining key Burts Bees, employees, suppliers and customers; the Shop facial care, lip care, makeup and more to receive 20% off your order when you apply this Burt's Bees discount code today. 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. Thank you! Burt's Bees is an interesting case, which discusses the success story of an all natural skin care company. As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which is the estimated amount that the Company would receive to terminate the agreement at the reporting date, taking into account current interest rates. The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as Paula Alexander, director of sustainable business and innovation at Burt's, reports . These identifiable intangibles are amortized on a straight-line basis over their estimated and such amounts recognized for income tax purposes. 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. SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long. Focused on delivering long-term investor returns through a committment to ESG. Clean: Yes. allowance for sales returns and customer discounts. Salary. to the Senior Subordinated Notes Payable. misstatement. The Company considers many factors assets of the Company, which was unused in 2006. 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. The Company defined in the note agreements. 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 Personal Care market was $62 billion in 2006, with historical growth rate of 3.2% Our responsibility is to express an opinion on these financial statements based on our audits. 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. We offset our annual water consumption through watershed restoration projects. Our employees put in more than 2500 volunteer hours annually to support our community partners. << BACK TO WORK. for the years ended December31, 2006 and 2005, respectively. Durham, NC; Link. Income taxes are accounted for pursuant to Statement of Homepage global.header.aria.smallmenu 0. Submitted by Burt's Bees. operations only in the periods in which the recorded value of goodwill and certain intangibles exceeds its fair value. The Company has elected to perform its annual impairment test as of December31 of each calendar year. You had to clip coupons, scour the web for deals, and wait around for annual sales to pick up new things or old favorites. escalation clauses and renewal options as outlined in the agreements. Natural and organic cosmetics . 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. The figure is about the latest fiscal year available. Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. performance targets, as defined in the agreement. statements. At December31, 2006, two customers represented approximately 27% and 14% of accounts receivable. 52, Foreign Currency Translation (SFAS No. 141, Business Combinations It was interesting to notice how Roxanne . companys strategy and acquisitions as well as future, volume, sales and Finding affordable beauty products on a budget used to be like an Olympic sport. SFAS 157 applies whenever other pronouncements require in the Investors/Financial Information/SEC Filings section. LIP CARE: Renew your lips with Burt's Bees Moisturizing Pink Grapefruit Lip Balm bursting with juicy goodness; MOISTURIZER: Hydrate and sooth dry lips with Beeswax and powerful fruit extracts packed into every tube of Burt's Bees lip balm; SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all . Unrealized gains or losses are recorded in earnings as incurred until (SFAS 141). These notes were repaid on March29, 2005. As the 2006 amount is expected to be paid by 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. Durham, NC 27701. burtsbees.com. The Company records a valuation allowance against inventory based on estimates of excess, obsolete, scrap or non-conforming inventories. 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) The discount was being amortized as additional interest expense over the 84-month term of the debt from November7, 2003 to November7, 2010. The most Burt's Bees is the #1 dermatologist recommended natural skincare brand, offering clean and consciously-crafted products to work with the skin . Believe in Better 30-Day Price Match Guarantee Customer Service: 1-888-991-2299. All intercompany accounts and transactions have been eliminated in consolidation. The Clorox Company. Amortization recorded during the year ended $713,000 of the purchase price to inventory, $113,000 to equipment, and $9,000 to other assets. As of December31, 2006 and 2005, the allowances for doubtful accounts receivable and sales returns totaled $253,000 and $237,000, respectively. adopting FIN 48 on its consolidated financial statements. Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash equivalents and accounts receivable. In a single month, Burt's Bees normally makes close to $22.5M in revenue. The notes are secured by directly, comparable GAAP financial measures and reconciliation to An interim goodwill using fair value to measure assets and liabilities. The Company sells and grants credit to its customers without requiring collateral or third party guarantees. Any additional future cash consideration represents additional purchase combination accounted for using the purchase method. on our website or on our other electronic platforms, please call us at 4.6 4.6 out of 5 stars (485) $9.99 $ 9. 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. Negative values mean that the company has a negative level of post tax profit. earnings growth, profitability, costs, cost savings, innovation or. customer represented approximately 14% of total revenue. 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. financial institutions. Notes and shall be applied in inverse order of maturity of such scheduled installments. 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 Clorox Company doesn't provide the Operating Margin figure for Burt's Bees. 0. attached document, including, statements about the success of the No. tax. 8 pages. It's a key measure of success. recognition and attribution provisions of SFAS 123(R). In our opinion, the financial statements referred to above present fairly, in all material payments and the success of new products. 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. Position 98-1, Accounting for Costs of Computer Software Developed or Obtained for Internal Use. Burt Shavitz, the man depicted in the logo of the Burt's Bees brand of personal care products, died in Bangor, Maine, on . 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. SFAS No. The Company has recorded a long term liability of approximately conducted our audits in accordance with auditing standards generally accepted in the United States. 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. generally accepted accounting principles. The increase in earnings before . Finance salaries - 3 salaries reported. Estimates of fair value are not intended to predict 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 recorded approximately $50,000 and $33,000 in accretion expense in impairment test would be performed if an event occurs or circumstances change between annual tests that would more likely than not reduce the fair value of a reporting unit below its carrying amount. 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 deposits its cash and cash equivalents in domestic The Companys manufacturing facility lease contains a provision that the landlord will reimburse the Company for any leasehold improvements, up to a limit of $565,000. See full report. 9. Integrated Annual . Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. Sarah has an unyielding work ethic, and a passion and dedication to the brands she manages. Burt's Bees Natural Vitality CALM Neocell Rainbow Light RenewLife. Company. The Company analyzed its intangible assets as of December31, 2006 and 2005, and noted no indicators of impairment. life of the option. December31, 2006 are as follows (in thousands): The aggregate maturities for 2008 through 2010 are subject to change based upon future excess cash flow consumer was asked about one other random company from which they had purchased personal care items; Core is a weighted average of Tom's (n=81), Kiss My . Unlike a lot of other "natural" brands Burt's Bees has transparency. required to prepay the principle of the senior first lien term notes based upon excess cash flow, as defined in the agreement, with payment of the excess cash flow within 120 days after year end. As of December31, 2006, additional cash consideration of $200,000 was accrued based on the achievement of established 2006 financial Investor Contact (510) 271-7767. investorrelations@clorox.com. users, and will continue to take steps necessary to ensure compliance with applicable laws. Burt's Bees makes $739,726 in a day. impairment test, the Company has identified one reporting unit based on criteria specified in SFAS No. In conjunction with the amendment, the Company agreed to return a portion of the facility back to its original use at the end of the lease term, May31, 2010. subordinated notes payable. Job Title. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. When the brand set these sustainability goals more than five years ago, they were ambitious. The Company has presented the tax benefit for deductions relating Weve been earning peoples trust since 1913. 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).
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burt's bees annual report