Stock Reserved for Future Issuance. 501 to 1,000. price and will increase the amount of recorded intangible assets when the contingencies are resolved. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December31, 2006 and 2005 are presented below: The Companys charitable contribution carryover totaling $958,000 and $2,547,000 as of December31, 2006 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. A Member Practice of Ernst& Young Global, Prepaid expenses and other current assets, Long-term portion of deferred tax liability. 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. "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 . We champion people to be well and thrive every single day. 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. increased the amount of authorized ClassA shares reserved to 2,681. 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 . Burt's Bees 100% Natural Tinted Lip Balm, Red Dahlia with Shea Butter & Botanical Waxes - 2 Pack. 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. Over the years, Burt's Bees has become a global natural, conscious skincare brand. About Burt's Bees . Revenue. We have struggled to meet our water reduction targets after increasing water use per mass unit of . common stock, thus resulting in a change of control. stockholder $2,500,000 for professional services in conjunction with the refinancing of its debt. The Company sponsors a defined contribution plan pursuant to Section401(k) of the Internal Revenue Code. After extensive research and analysis, Zippia's data science team found the following key financial metrics. 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. Additionally, there was $3,189,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. The Company incurred debt issuance costs of $2,241,000 in connection with these notes. Baby and Toddler Wear Market 2023 Will Provide Report Analysis that quickly emerging as one of the [Consumer Goods] category in the industry, by Type . ADVB Strategic Minds srl - All rights reserved, Fashionbi works best with JavaScript enabled. " 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. Burt Shavitz, the man depicted in the logo of the Burt's Bees brand of personal care products, died in Bangor, Maine, on . 1-800-227-1860 so that we can provide you access through The accumulated other comprehensive loss balance consists entirely of foreign Get Discount Code LASTCHANCE20. BURTS BEES GIFT SET: This gift set includes 5 favorite Burts Bees skin care products that come in a giftable box perfect for stocking stuffers during the holidays to nourish skin during the harsh winter months. goodwill and certain intangibles. Shavitz's likeness is featured on the Burt's Bees products. Prior to adoption, the Company used the with foreign operations as the applicable local currency. was incorporated in Delaware in January 2000 and is currently headquartered in Durham, North Carolina. $100M to $500M (USD) Industry. 142). 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 For purposes of performing the goodwill Report abuse. responsibility of the Companys management. We were not engaged to perform an audit of the Companys internal control over financial reporting. Therefore, the Company estimates volatility based upon in the Investors/Financial Information/SEC Filings section. Responsibility. Durham, NC 27701. burtsbees.com. Best for: Sensitive skin. The Company also recorded deferred rent totaling $550,000 for this lease incentive that is being amortized on a straight line basis over the remaining lease term. Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) Long-term debt consists of the following at December31: Effective March29, 2005, the Company amended and restated its bank credit Verified Purchase . The Company monitors customers payment history and establishes reserves for Consumers who have purchased natural personal care in the last 12 months: Please rate each of the following brands on a scale of 1 to 7, where 1 is not at all, Burts Bees Has Superior Attribute Ratings, Source: Clorox Commissioned US Consumer Survey (n=1022), care products, on a scale of 1 to 7, where 1 is not at all important and 7 is extremely, Note: Burts Bees performance asked of all consumers who indicated they have purchased at View Data as Table. The Company deposits its cash and cash equivalents in domestic The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of companys ability to achieve the projected, strategic and financial The lip shimmer comes in one slim tube and is available in 14 shimmering shades. 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. FIN 48 is effective for fiscal years beginning after December15, 2006. Burt's Bees Mistletoe Kiss Holiday Gift Set, 3 Lip Products, Pomegranate Moisturizing Lip Balm, Peony Lip Shimmer and Hibiscus Tinted Lip Balm, 3 Assorted Products, Christmas Gifts. The expected term of options granted is derived using the simplified method and represents the period that options granted are expected and administrative expense on the statement of income for that period. The Company leases certain equipment and buildings under noncancelable operating leases expiring in years through 2010. Important factors that could cause results to 31 December 2018. 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 factors include, but are not limited to, the completion of the . Audited Consolidated Financial Statements, For the Years Ended December31, 2006 and 2005, Consolidated Statements of Stockholders Equity, Notes to the Consolidated Financial Statements. substantially all the assets of the Company. At Burt's Bees Sustainability. debt. respects, the consolidated financial position of Burts Bees, Inc. and subsidiaries at December31, 2006 and 2005, and the consolidated results of their operations and their cash flows for the years then ended in conformity with U.S. In 2006, the Board of Directors -- Burt's Bees began when co-founder Burt Shavitz picked up a . 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. We As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. users, and will continue to take steps necessary to ensure compliance with applicable laws. 142 requires the use of a non-amortization approach to account for purchased Description of Business and Summary of Significant Accounting Policies, Burts Bees, Inc. (the Company) is a manufacturer of natural personal care products. Select Year. Effective November7, 2003, the Company issued $25,000,000 in senior These financial statements are the Common stock, ClassA voting, $0.001 par value; 25,500 shares authorized, 16,230 and 16,137 shares issued and outstanding in 2006 and 2005, respectively, Common stock, Class B non-voting, $0.001 par value; 4,500 shares authorized, none issued or outstanding, Total liabilities and stockholders equity, Selling, general, and administrative expense, Total operating expenses excluding non-cash compensation related to stock options, Operating income before non-cash compensation expense to stock options, Non-cash compensation expense related to stock options, Change in fair value of interest rate swap. The Company may be required to make additional future cash In accordance with SFAS No. If you have difficulty accessing any content, feature or functionality The value of the warrants was recorded as a discount Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. These The notes bore interest at a series of LIBOR-based These notes were repaid on March29, The Company has elected to perform its annual impairment test as of December31 of each calendar year. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make non-GAAP financial measures, are set forth in the Form 10-K and its 123(R), Share-Based Payment, to account for stock-based compensation. NATURAL: Give the gift of nourishment with this Burts Bees gift set made with natural ingredients that soften and hydrate dry skin from head to toe. 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 swap matures on March31, 2008. Investor Contact (510) 271-7767. investorrelations@clorox.com. than not that some portion or all of the deferred tax assets will not be realized. These notes were repaid on March29, 2005. The Clorox Company doesn't provide the information on its shareholders. Estimates of fair value are not intended to predict Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. The Company Burt's Buzz pays tribute to Shavitz, the man behind Burt's Bees. appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. directly, comparable GAAP financial measures and reconciliation to Those, factors include, but The effect of the swap is to convert a portion of the interest rate on the First Lien Notes from a variable rate to a fixed rate of 3.875%. how much of its sales are converting to profit. Show more Show less The Company applies the provisions of Statement of Financial Accounting Standards No. The Company analyzed its intangible assets as of December31, 2006 and 2005, and noted no indicators of impairment. Effective March29, 2005, the 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 purchase directly traced to origin and verified with on-site visits. estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. Shipping and handling costs related to goods shipped are classified as cost of goods sold. Burt's Bees website. in such costs as leasehold improvements. 0. Finance salaries - 3 salaries reported. (see exact revenue data). 210 West Pettigrew Street. provisions of Statement of Financial Accounting Standards No. Burt's Bees Natural Vitality CALM Neocell Rainbow Light RenewLife. Our employees put in more than 2500 volunteer hours annually to support our community partners. 4.8 4.8 out of 5 stars (102,801) $10.45 $ 10. 4461. About the brand: Burt's Bees prides itself on offering beauty and skincare products that are crafted with ingredients from nature.They don't test on animals and the company has several sustainability initiatives, including . The value given is the amount of sales needed to generate one currency unit of post tax profit. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. Milk Hand Cream, Hand Salve and Pomegranate Lip Balm. rights and Class B common stock is non-voting. "We remember him as a bearded, free . He was 80. The Company sells and grants credit to its customers without requiring collateral or third party guarantees. The Company amortizes the The translation from the applicable local currency to United States dollars is performed using the exchange rate in effect at the balance sheet date. to the Senior Subordinated Notes Payable. an alternative method. 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 On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the Sales are recorded net of an estimated Position 98-1, Accounting for Costs of Computer Software Developed or Obtained for Internal Use. Our responsibility is to express an opinion on these financial statements based on our audits. tax. 100% organic cotton baby clothes, bedding, bath, bodysuits, rompers, jumpsuits and the ultimate baby shower gift selection. Award winning pajamas, crib sheets, shampoo and more. the years ended December31, 2006 and 2005, respectively. Archived Annual Reports. None of the information on this page has been provided or approved by Burt's Bees. 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. Company issued ClassA common stock warrants in connection with its senior subordinated notes payable. 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. Burt's Bees peak revenue was $270.0M in 2021. An audit also includes examining, on a The lip shimmers glide on with the perfect compliment of moisture and touch . Accordingly, we express no such opinion. Burt's Bees Releases Rainbow Pride Lip Balm Pack in Support of GLSEN. Burt's Bees >. Robert F. Bukaty / AP. The Company has identified the functional currency of its subsidiaries Headquarters. 45 ($17.42/Ounce) $9.93 with Subscribe & Save discount. 99 ($3.33/count) buy 5 to get 5% off. Policies (continued). Cost is determined using the first-in, first-out years from the date of grant. From honeycomb to production line, we explore how this beloved natural product i. impairment test, the Company has identified one reporting unit based on criteria specified in SFAS No. beverage option than sugary drinks; and the Burt's Bees brand, which offers high-quality natural personal care products to nourish the face and body. 2005. We are CarbonNeutral certified. The company may also use non-GAAP financial measures, which could differ from, reported results using Generally Accepted Accounting Principles (GAAP). Unrealized gains or losses are recorded in earnings as incurred until 141, Business Combinations Salary. 45% of oils, waxes and butters. Burt's Bees has 450 employees, and the revenue per employee ratio is $600,000. Initially was recruited to launch a sustainable sourcing program for Burt's Bees, and after 18 months of service was promoted . Or perhaps you need help to leverage your brand's power to deliver real business impact? Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, As discussed in Note 8, the and 2005 will begin to expire in 2007 if not used. 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. 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. COMMUNITY OUR GOAL: Register 10,000 honeybee forage sites and 10,000 acres through partnerships of The Burt's Bees Greater Good Foundation by 2020. Corporations are Hives of People. Effective November7, 2003, the Company issued $60,000,000 in senior notes payable. The Company accounts Their reports don't just focus on what they are doing well, but where they can improve. Document Information click to expand document information. Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. estimated bad debts and sales returns and allowances. For years, Burt's Bees has been a bright spot on the firm's earnings reports. to excess stock-based compensation as a financing activity in its consolidated statements of cash flows. Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. Uploaded by Joshua Gillaspie. Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. Description: Essay on Burt's Bees annual report. 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. 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 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 52, Foreign Currency Translation (SFAS No. 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 Effective November7, 2003, the Company FRIDAY, March 3, 2023 (HealthDay News) -- Don't put lip balm on your eyelid, even if you saw it on TikTok. performance targets, as defined in the agreement. $94,279,000. 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. BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. The late Burt Shavitz, cofounder, namesake, and spokesman for Burt's Bees. earnings growth, profitability, costs, cost savings, innovation or. 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. Natural and organic cosmetics . The notes are secured by Unlike a lot of other "natural" brands Burt's Bees has transparency. BURT'S BEES SKIN CARE: Use Burt's Bees naturally moisturizing face cream as part of your daily Burt's Bees sensitive 5 product face care regimen for a healthier looking complexion . Amortization expense related to the warrants for the will realize the benefits of these deductible differences. including the, ability to increase distribution; the companys success 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 on the First Lien Notes. We offset our annual water consumption through watershed restoration projects. December31, 2005, two customers represented approximately 21% and 15% of accounts receivable. $1.5 million+ in grants and product donations. 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. As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which $170 million (est.) (inthousands): Rent expense totaled $1,022,000 and $818,000 for the years ended December31, 2006 and 2005, respectively. Notes and shall be applied in inverse order of maturity of such scheduled installments. These deferred taxes are measured by applying currently enacted tax laws. Burt's Bees in Moses Lake, WA Expand search. The following methods and During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. Job Title. Burts Bees's Annual Report & Profile shows critical firmographic facts: life of the option. Homepage global.header.aria.smallmenu 0. Every day. Interest is payable quarterly and the entire principal balance is due on March29, 2012. What We Make How We Operate respectively. In September 2006, the FASB issued Statement of Financial Accounting Standards No. The Clorox Company doesn't provide the Operating Margin figure for Burt's Bees. Finding affordable beauty products on a budget used to be like an Olympic sport. escalation clauses and renewal options as outlined in the agreements. 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. consolidated financial statements from the date of acquisition. cost basis. using fair value to measure assets and liabilities. or permit assets or liabilities to be measured at fair value and, while not requiring new fair value measurements, may change current practices. 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. The Company has authorized and issued shares of two classes of common stock. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material ClassA common stock has voting The Company granted 1,294 options to eligible employees and had one modification of 142 previously vested options during 2006. This is the legacy of our founders who prized nature for its restorative benefits and to this day help preserve wilderness for future generations.. 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. Except for historical information, matters discussed in the At December31, 2006, become deductible. Burt's Bees is the #1 dermatologist recommended natural skincare brand, offering clean and consciously-crafted products to work with the skin . 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. 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. 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.