burt's bees annual report

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 Investor Contact (510) 271-7767. investorrelations@clorox.com. 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). Management reviews the carrying value of its identifiable intangible assets for recoverability if indicators of impairment arise. $217,000 and $206,000 as of December31, 2006 and 2005, respectively. Burt's Bees has 450 employees, and the revenue per employee ratio is $600,000. method for all inventories. Burt's Bees Global HQ Mural in Durham, NC - The Good of the Hive Burt's Bees has been offering distinctive earth-friendly, natural health and beauty care products for 30 years. The Company has a $15,000,000 revolving line of credit, collateralized by substantially all information of similar public entities for which option price information is available. Pursuant to the terms of the notes, the Company is 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. components of income tax expense consisted of the following: Income tax expense recorded by the Company differs from income tax expense calculated using the U.S. federal The company was founded in 1991 and is based in Morrisville, North Carolina. regulatory matters. we purchase directly traced to origin and verified with on-site visits. Job Title. 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 carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as The Company sponsors a defined contribution plan pursuant to Section401(k) of the Internal Revenue Code. earned from customers primarily located in North America. Under SFAS 109, deferred income taxes are provided on temporary differences between the amounts of assets and liabilities recognized for financial reporting purposes Amazon.ca: Burt's Bees Report of Independent Auditors . Policies (continued). 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. The valuation allowance is charged to the provision for inventory which is a $713,000 of the purchase price to inventory, $113,000 to equipment, and $9,000 to other assets. Shipping and handling costs related to goods received are capitalized as a component of directly, comparable GAAP financial measures and reconciliation to conducted our audits in accordance with auditing standards generally accepted in the United States. recognition and attribution provisions of SFAS 123(R). We are CarbonNeutral certified. Called "beezin'," because the trend is to use Burt's Bees lip balm in particular, some . $59,924 / yr. Finance Manager salaries - 2 salaries reported. Burt's Bees History: Founding, Timeline, and Milestones - Zippia SFAS 123(R) in the same manner as it had been accounted for prior to adoption for financial statement recognition purposes. In accordance with SFAS No. On April21, 2005, the Company entered into an interest rate swap to hedge against the impact on cash flows of changes in interest rates Select Year. The allocation of the purchase price, including transaction costs, resulted in 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. substantially all the assets of the Company. Burt's Bees on LinkedIn: #aadvmx2021 operations only in the periods in which the recorded value of goodwill and certain intangibles exceeds its fair value. 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. time to time in the companys SEC filings. in 2007 net sales with roughly 90% in U.S. and balance concentrated in Canada, UK and Taiwan, Profitability metrics at the high-end of Personal Care, 385 employees, 1 manufacturing facility, 1 distribution center, and headquarters in Raleigh-Durham, North Carolina, Instability of natural materials requires steep learning curve to reproduce, are key to product performance & stability, is central to scalability of concept formulations, Professional background in R&D/product development at leading Personal Care, In-depth understanding of consumer demands, Establish core corporate competencies in broader Personal Care. When expanded it provides a list of search options that will switch the search inputs to match . Burt's Bees in Moses Lake, WA Expand search. Durham, NC; Link. Essay on Burt's Bees annual report. Burts Bees's Annual Report & Profile shows critical firmographic facts: December31, 2006 are as follows (in thousands): The aggregate maturities for 2008 through 2010 are subject to change based upon future excess cash flow NPR's Elizabeth Blair reports that Shavitz's death resulted from . During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. Description: Essay on Burt's Bees annual report. Press Release of The Clorox Company announcing acquisition agreement The Clorox Company doesn't provide the Operating Margin figure for Burt's Bees. 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. - 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. I was invited to paint a mural for their annual culture day to honor the passing of the company's founder, Burt Schavitz. allowance for sales returns and customer discounts. How I Built This with Guy Raz. FIN 48 prescribes a comprehensive model for how a company 11/19/2020 -- Global Natural & Organic Makeup Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) is latest research study released by HTF . The late Burt Shavitz, cofounder, namesake, and spokesman for Burt's Bees. 2005. respectively. that our audits provide a reasonable basis for our opinion. THE FLIGHT PATH: While our original goal of helping In 2005, the Company amended one 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. Published: March 3, 2023 at 7:07 a.m. Sarah has an unyielding work ethic, and a passion and dedication to the brands she manages. 4 Count. attached document, including, statements about the success of the of which approximately $10,000 and $32,000 was payable as of December31, 2006 and 2005, respectively. The Company contributed $321,000 and $137,000 for Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of 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. tax. 210 West Pettigrew Street. But our team has been vetting one affordable makeup and skincare brand lately, and y'all, I don't . $170 million (est.) 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. 142, Goodwill and Other Intangible Assets (SFAS No. Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. 12 cute booties to help keep your baby's feet warm | KLFY.com had not been placed into service as of year end. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material ADVB Strategic Minds srl - All rights reserved, Fashionbi works best with JavaScript enabled. The discount was being amortized as additional interest expense over the 84-month term of the debt from November7, 2003 to November7, 2010. 142 requires the use of a non-amortization approach to account for purchased About the company. year in quarterly installments in exchange for certain advisory and consulting services. Description of Business and Summary of Significant Accounting 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. 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. Burt's Bees Annual | sydneyhirsh 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 following table summarizes stock option activity: At December31, 2006, there were 1,106 non-vested shares granted after the adoption of SFAS 123(R). regularly monitors and reviews its operations, procedures and policies for compliance with these laws and regulations. The Clorox Company is committed to making its website accessible for all Our commitments to social and environmental sustainability. issued by the Burt's Bees Foundation to protect biodiversity and reconnect people to nature. 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. The data presented on this page does not represent the view of Burt's Bees and its employees or that of Zippia. Weve been earning peoples trust since 1913. Salary: Burt's Bees Finance & Accounting | Glassdoor of its leases. All Rights Reserved. Burt's Bees peak revenue was $270.0M in 2021. Burt's Bees revenue is $270.0M annually. "We remember him as a bearded, free . Burt's Bees, environment, ESG, sustainability. 20,000+ livelihoods impacted as coding, installation of hardware, and software configuration. 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 Clorox Company doesn't provide the information on its shareholders. 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. Infant Death Linked to Contaminated Breast Pump: CDC responsibility of the Companys management. The notes were secured by substantially all assets of the Company. She moved to Maine, built a cabin in the woods . disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. Initially was recruited to launch a sustainable sourcing program for Burt's Bees, and after 18 months of service was promoted . Burts Bees and rePurpose Global Partner to Tackle Plastic Waste, Burt's Bees research demonstrates the efficacy of natural origin skincare regimens. Shannon Hess - Director - LinkedIn 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. 31 December 2019. Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash equivalents and accounts receivable. Burt's Bees Launches Sustainability Initiatives, Including Net Zero 100% (1) 100% found this document useful (1 vote) 357 views. 10 Entertaining Business Documentaries Entrepreneurs Can Learn From companys most recent Form 10-K, filed with the SEC, as updated from 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. 1. 0. on our website or on our other electronic platforms, please call us at The Company expenses costs of advertising and promotional costs as incurred. performance targets, as defined in the agreement. RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. Price: $11. Our commitments to social and environmental sustainability. The notes bore interest at a series of LIBOR-based BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. Corporations are Hives of People. least one Burts Bees product; for all other competitors, each, consumer was asked 9. 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. customer represented approximately 14% of total revenue. The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of fair value, net of estimated forfeitures, over the remaining vesting term on a straight-line basis. The expected term of options granted is derived using the simplified method and represents the period that options granted are expected It's a key measure of success. Reviewed in the United States on February 1, 2023. Canada ULC. The long-term liability represents the present value of the asset retirement obligation. generally accepted accounting principles. Alexandra Woods - Associate Omni Channel Shopper Marketing - LinkedIn Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. Prior to adoption, the Company used the Durham, NC 27701. burtsbees.com. Burt's Bees | Company Overview & News 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. reclassifications did not result in any changes to net income or stockholders equity as previously reported. and such amounts recognized for income tax purposes. 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. Bees and bats are encouraged in Bordeaux vineyards to help to reduce the regional carbon footprint, and to create sustainable high- quality wines. Burt Shavitz poses on his property in Parkman, Maine on May 23, 2014. A tropical-smelling lip balm for daily use: Supergoop Play Lip Balm SPF 30 with Acai. an alternative method. The company offers lip color products, such as lip gloss, lip shimmers, lip shine, tinted lip balms, and lip color bundles; and lip care products, including beeswax lip balms, lip balms, and lip treatment products. The Company uses historical data among other factors to estimate forfeiture rates used in the model. The Company recorded $750,000 of sales, general and administrative expense in the accompanying consolidated statements of income for the years ended Important factors that could cause results to 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. The Company may be required to make additional future cash component of cost of goods sold. He was 80. (see exact revenue data). to frontline workers and vulnerable populations at the onset of COVID-19. Collections of travel-sized samples introduced in mid-1998 became instant best sellers. 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 initiatives were announced along with the release of the company's 2020 Impact Report. We champion people to be well and thrive every single day. Exhibit - SEC Finance salaries - 3 salaries reported. The Company was in compliance with these covenants at December31, 2006. strategy, culture, and execution track record, which we intend to Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) The most Inclusion, diversity, equity and allyship. Burt's Bees >. US Careers | The Clorox Company The Company incurred debt issuance costs of $2,241,000 in connection with these notes. Essay on Burt's Bees annual report. 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 An audit also includes examining, on a Unrealized gains or losses are recorded in earnings as incurred until Burt Shavitz - Wikipedia Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. Recycle your Burt's Bees products with Terracycle. See full report. How Burt's Bees made Clorox more sustainable - The Guardian Verified Purchase . (2003-2006), NPC growing at double-digit rates across Europe and Asia, U.S. Natural Personal Care Market Is Highly, Fragmented & Lacks Entrenched Scale Players, anticipated to drive growth for years to come, Burts Responsible for planning and execution of booth and managing attendees for past shows. 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 value of the warrants was recorded as a discount to be outstanding. Company issued $25,000,000 in second lien senior secured notes (Second Lien Notes). 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. 1-800-227-1860 so that we can provide you access through estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. Amortization recorded during the year ended July 6, 2015. Lip balm/treatment brand sales U.S. 2019 | Statista Baby and Toddler Wear Market Valuation Worldwide 2023 - 2028 Pursuant to the terms of the In 2006, two customers each represented approximately 16% of total revenue, and in 2005, a single earnings growth, profitability, costs, cost savings, innovation or. 109 (FIN 48). 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 What We Make How We Operate From honeycomb to production line, we explore how this beloved natural product i. assets of the Company, which was unused in 2006. Award winning pajamas, crib sheets, shampoo and more. Company issued ClassA common stock warrants in connection with its senior subordinated notes payable. The value given is the amount of sales needed to generate one currency unit of post tax profit. Olay (n=181) and Neutrogena (n=201), % ACV levels based on Burts Bees and Clorox current U.S. distribution as of Values | Burt's Bees CA SKIN CARE PRODUCTS: Pamper from head to toe with this giftable set including Lemon Butter Cuticle Cream, Hand Salve, Original Beeswax Lip Balm, Res-Q Ointment, Shea Butter Hand Repair Cream and Coconut Foot Cream, FEET: Pamper and soothe dry, rough, cracked skin with moisturizing hand salve, cuticle cream, hand cream and rich foot cream, LIP MOISTURIZER: Made with Beeswax, Vitamin E and a hint of peppermint oil, hydrate and nourish dry lips with the original favorite lip balm, MULTIPURPOSE OITNMENT: This gentle Res-Q Ointment is made with a blend of herbal ingredients to create an everyday salve that soothes and comfort dry skin and minor cuts, BURTS BEES GIFT SET: These natural, moisturizing skin care products gifted in a Burts Bees tin nourish skin throughout the winter months and make the perfect holiday stocking stuffer, SKIN CARE PRODUCTS: Pamper from head to toe with this giftable set including 5 travel size Burts Bees favorites: Soap Bark and Chamomile Deep Cleansing Cream, Hand Salve, Milk &, Honey Body Lotion, Coconut Foot Cream and Beeswax Lip Balm, FEET: Coconut Foot Cream and Beeswax Hand Salve restore, dry skin to moisturize and soften hands and feet, FACE: Soap Bark and Chamomile Deep Cleansing Cream, Milk and Honey Body Lotion and Beeswax Lip Balm moisturize lips, face and body, ALL NATURAL: Made with natural ingredients, these Burts Bees skin care trial products are formulated to condition and hydrate skin all day long. 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. 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. 157, Fair Value Measurements (SFAS 157), to provide enhanced guidance when Health and wellness is not only our past and present, it's our future. Available in: Lip Care and Lip Care with Colour, Mama Bee, Baby Bee, Hand and Body Care. appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. 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 Case Study: Burt's Bees | Bazaarvoice Burt's Bees Co-Founder Burt Shavitz Dies - The Atlantic