Archived Annual Reports. If you have difficulty accessing any content, feature or functionality At December31, 2006, 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 payments and the success of new products. It's a measure of a company's overall profitability, i.e. combination accounted for using the purchase method. The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of to be outstanding. ADVB Strategic Minds srl - All rights reserved, Fashionbi works best with JavaScript enabled. CHANEL Limited Financial Results for the year ending: 31 December 2021. defined in the note agreements. 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. had not been placed into service as of year end. Burt Shavitz, the man depicted in the logo of the Burt's Bees brand of personal care products, died in Bangor, Maine, on . Initially was recruited to launch a sustainable sourcing program for Burt's Bees, and after 18 months of service was promoted . Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information Burt's Bees website. It includes the overall revenue of the company, considering not only the sales of finished goods, but all of the sources of the company income. 2005. 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. 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. Milk Hand Cream, Hand Salve and Pomegranate Lip Balm. 31 December 2017. Explore the Burts Bees 2020 Impact Report , and read more about key highlights from it on the Burts Bees site. useful lives, ranging from seven to ten years. Reviewed in the United States on February 1, 2023. 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. The Company has identified the functional currency of its subsidiaries In accordance with SFAS No. Personal Care market was $62 billion in 2006, with historical growth rate of 3.2% As discussed in Note 8, the 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. 4.8 4.8 out of 5 stars (102,801) $10.45 $ 10. Company size. Estimates of fair value are not intended to predict 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. 109 (FIN 48). These financial statements are the In a single month, Burt's Bees normally makes close to $22.5M in revenue. View Burt's Bees (www.burtsbees.com) location in North Carolina, United States , revenue, industry and description. companys ability to achieve the projected, strategic and financial The Company expenses costs of advertising and promotional costs as incurred. issued by the Burt's Bees Foundation to protect biodiversity and reconnect people to nature. Foreign currency transactions are accounted for in Inventories are stated at the lower of cost or market. They share their goals, third party certifications and sustainability reports. But our team has been vetting one affordable makeup and skincare brand lately, and y'all, I don't . Headquarters. 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 Company considers many factors 31 December 2018. Sales are recorded net of an estimated Burt Shavitz, who died at age 80, had a roadside honey stand. and such amounts recognized for income tax purposes. non-GAAP financial measures, are set forth in the Form 10-K and its FEET: Pamper and soothe dry, rough, cracked skin with moisturizing hand salve, cuticle cream, hand cream and rich foot cream. 99 ($3.33/count) buy 5 to get 5% off. 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. Note: Revenues for privately held companies are statistical evaluations. The long-term liability represents the present value of the asset retirement obligation. 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. Burts Bees's Annual Report & Profile shows critical firmographic facts: That In 2005, the Company amended one This button displays the currently selected search type. Long-term debt consists of the following at December31: Effective March29, 2005, the Company amended and restated its bank credit The increase in earnings before . Management reviews the carrying value of its identifiable intangible assets for recoverability if indicators of impairment arise. Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. 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 . Amortization recorded during the year ended inventory cost. The Company amortizes the customer represented approximately 14% of total revenue. The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. Investor Contact (510) 271-7767. investorrelations@clorox.com. At December31, 2006, two customers represented approximately 27% and 14% of accounts receivable. income for that period. The value given is the amount of sales needed to generate one currency unit of post tax profit. Show more Show less Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not the Company the years ended December31, 2006 and 2005, respectively. We offset our annual water consumption through watershed restoration projects. Over the years, Burt's Bees has become a global natural, conscious skincare brand. 9. Responsibility. The note agreements include restrictive financial covenants related to levels of income, as well as minimum users, and will continue to take steps necessary to ensure compliance with applicable laws. responsibility of the Companys management. In June 2006, the Financial The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as 157, Fair Value Measurements (SFAS 157), to provide enhanced guidance when 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 20,000+ livelihoods impacted Notes and shall be applied in inverse order of maturity of such scheduled installments. including the, ability to increase distribution; the companys success 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. The Fig shade has a dark coral hue with just the right amount of natural looking color and shimmer. 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. Intangible assets resulted from a business From honeycomb to production line, we explore how this beloved natural product i. 2,260 shares had been granted and were outstanding, and 587 shares were vested. She moved to Maine, built a cabin in the woods . Position 98-1, Accounting for Costs of Computer Software Developed or Obtained for Internal Use. Accounts receivable are derived from revenue 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. The Company incurred debt issuance costs of $769,000 in connection with this issuance. Burt's Bees in Moses Lake, WA Expand search. translated using the average exchange rate experienced during the period. SFAS 157 applies whenever other pronouncements require The remainder of the construction in progress balance is attributable to equipment. -- Burt's Bees began when co-founder Burt Shavitz picked up a . The Company has presented the tax benefit for deductions relating During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. Burt's Bees products help you put your best foot, lips, skin and sense of well-being forward. The notes were secured by substantially all assets of the Company. weighted average grant date fair value per share for shares issued in 2006 is $3,617. An . Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. Called "beezin'," because the trend is to use Burt's Bees lip balm in particular, some . It was interesting to notice how Roxanne . 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 Additionally, the Company allocated These 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). The figure is about the latest fiscal year available. The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Submitted by Burt's Bees. The Company capitalizes software development costs once the project has reached the application development stage, which includes activities such 48 Accounting for Uncertainty in Income Taxes an interpretation of FASB Statement No. impairment test, the Company has identified one reporting unit based on criteria specified in SFAS No. The notes are secured by In addition, the Company reimburses an affiliate of a stockholder for certain administrative costs which totaled approximately $50,000 and $89,000 in 2006 and 2005, respectively, as coding, installation of hardware, and software configuration. 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. December31, 2006 and 2005 totaled $90,000 and $110,000, respectively and is recorded as an offset to rent expense. Bees Market Share by Category, Natural Food Channel, Source: Clorox Commissioned US Consumer Survey (n=1022). Essay on Burt's Bees annual report. Goodwill and Indefinite-Lived Intangible Assets. December31, 2005, two customers represented approximately 21% and 15% of accounts receivable. Burt's Bees, environment, ESG, sustainability. 10/31/07, markets; look to enter new, high-potential markets, Burts Bees has a strong management team, Annual sales reached $8.2 million in 1998. Best for: Sensitive skin. 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. Report of Independent Auditors . We were not engaged to perform an audit of the Companys internal control over financial reporting. Report abuse. Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of Burt Shavitz poses on his property in Parkman, Maine on May 23, 2014. Actual results could differ from those estimates. earned from customers primarily located in North America. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. 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. These factors include, but are not limited to, the completion of the . Price: $11. In fiscal year 2016, we acquired the Renew Life line of probiotics, cleanses and digestive aids, giving us the The warrants were exercisable until November7, 2010. The value of the warrants was recorded as a discount Description of Business and Summary of Significant Accounting For purposes of performing the goodwill Accordingly, we express no such opinion. Financial Standards No. Durham, NC; Link. conducted our audits in accordance with auditing standards generally accepted in the United States. allowance for sales returns and customer discounts. Sales are climbing at an annual rate of 9%. 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. Additionally, there was $3,189,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. The notes bore interest at a series of LIBOR-based 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 Company analyzed its intangible assets as of December31, 2006 and 2005, and noted no indicators of impairment. we purchase directly traced to origin and verified with on-site visits. The Company records a valuation allowance against inventory based on estimates of excess, obsolete, scrap or non-conforming inventories. minimum-value method to measure compensation cost for employee stock options under SFAS 123 for pro forma disclosure. Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. For 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. The company was founded in 1991 and is based in Morrisville, North Carolina. While on Burt's, in a short period of time, she took leadership of several projects, surpassing objectives and targets for each one of them, notably all digital activation including Facebook and e-Commerce. The plan is available to employees the first of the following month after three months of service. Effective November7, 2003, the Company << BACK TO WORK. FREE delivery Tue, Feb 28 on your first order. 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. 100% (1) 100% found this document useful (1 vote) 357 views. 52, Foreign Currency Translation (SFAS No. 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. Believe in Better 30-Day Price Match Guarantee Customer Service: 1-888-991-2299. Robert F. Bukaty / AP. 142, Goodwill and Other Intangible Assets (SFAS No. 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 translation from the applicable local currency to United States dollars is performed using the exchange rate in effect at the balance sheet date. Star rating: 4.8/5 Potential allergens: Glycerin Active ingredients: Cotton extract. The employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, 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 FIN 48 is effective for fiscal years beginning after December15, 2006. SFAS 157 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. The Company is currently assessing the impact of The accumulated other comprehensive loss balance consists entirely of foreign to the Senior Subordinated Notes Payable. Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. 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. The Company recorded $750,000 of sales, general and administrative expense in the accompanying consolidated statements of income for the years ended This week on How Stuff Is Made, we discover how Burts Bees Lip Balm is made. 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 . Property and equipment consists of the following at December31: Depreciation expense totaled $2,835,000 and $1,847,000 for the years ended December31, 2006 and 2005, Published: March 3, 2023 at 7:07 a.m. directly, comparable GAAP financial measures and reconciliation to As of December31, 2006, the Companys interest rate swap on the First Lien Notes. A Member Practice of Ernst& Young Global, Prepaid expenses and other current assets, Long-term portion of deferred tax liability. 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. And sometimes, what you measure, you become. 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 commitments to social and environmental sustainability. Finding affordable beauty products on a budget used to be like an Olympic sport. year ended December31, 2006 and 2005 totaled $0 and $72,000, respectively. Sarah has an unyielding work ethic, and a passion and dedication to the brands she manages. Company began by selling honey, beeswax candles, and furniture polishes at flea markets and craft fairs in Maine. of its leases. Nov 2012 - Jan 20163 years 3 months. 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 . Corporations are Hives of People. It's a key measure of success. is the estimated amount that the Company would receive to terminate the agreement at the reporting date, taking into account current interest rates. The fair value of the interest rate swap was estimated by obtaining a quote from the broker and 109, Accounting for Income Taxes (SFAS 109). estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. 45% of oils, waxes and butters. Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. In assessing the realizability of deferred tax assets, management considers whether it is more likely 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. Feb 2, 2022. Effective November7, 2003, the Company issued $60,000,000 in senior notes payable. Document Information click to expand document information. As of December31, 2006, additional cash consideration of $200,000 was accrued based on the achievement of established 2006 financial 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). earnings growth, profitability, costs, cost savings, innovation or. The Company incurred debt issuance costs of $2,241,000 in connection with these notes. The transaction is accounted for in accordance with SFAS 141, and the results of operations of Forever Natural are included in the Companys 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 . Advertising and promotional expenses totaled $9,718,000 and $11,230,000 8 pages. Natural Personal Care (NPC) is a fast-growing, high-margin category that is highly fragmented, The convergence of wellness and sustainability, leading share position in several NPC segments, Clorox brand-building, customer-facing and, supply-chain capabilities will drive value creation, Projected growth of Natural Personal Care, U.S. Every day. Adjustments to reconcile net income to net cash provided by operating activities: Changes in operating assets and liabilities: Net cash provided by operating activities, Payment on senior subordinated notes payable, Net increase (decrease) in cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Supplemental disclosure of cash flow information, Notes to Consolidated Financial Statements, 1. Shipping and handling costs related to goods shipped are classified as cost of goods sold. The Company leases certain equipment and buildings under noncancelable operating leases expiring in years through 2010. Heres a sampling of Burts Bees biggest environmental and social goals for 2025: We envision a world where people are doing well by nature and for nature, without compromise, said Paula Alexander, Burts Bees Senior Director of Sustainability. than not that some portion or all of the deferred tax assets will not be realized. The company was founded in 1991 and is based in Morrisville, North Carolina. years from the date of grant. Shavitz's likeness is featured on the Burt's Bees products. Today, they're simply how Burt's Bees works. 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. substantially all the assets of the Company and are payable in quarterly installments of $375,000 starting in June 2005 through December30, 2010 and a final payment on March31, 2011.