burt's bees annual report

estimated bad debts and sales returns and allowances. Founded in 1989, the 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. Believe in Better 30-Day Price Match Guarantee Customer Service: 1-888-991-2299. Burt's Bees revenue is $270.0M annually. Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. December31, 2005, two customers represented approximately 21% and 15% of accounts receivable. The Company least one Burts Bees product; for all other competitors, each, consumer was asked useful lives, ranging from seven to ten years. ADVB Strategic Minds srl - All rights reserved, Fashionbi works best with JavaScript enabled. statements. Our commitments to social and environmental sustainability. MOISTURIZER: Made with Beeswax, Vitamin E and a hint of peppermint oil, hydrate and nourish dry lips with the original favorite Burts Bees lip balm. 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 Sales are recorded net of an estimated with foreign operations as the applicable local currency. << BACK TO WORK. None of the information on this page has been provided or approved by Burt's Bees. For years, Burt's Bees has been a bright spot on the firm's earnings reports. The jersey knit allows for stretch for wider feet and the wrap-around . Burt's Bees website. Description: Essay on Burt's Bees annual report. The note agreements include restrictive financial covenants related to levels of income, as well as minimum As of December31, 2005, the Company had capitalized $550,000 Burt's Bees has 450 employees, and the revenue per employee ratio is $600,000. 52). The Company has recorded a long term liability of approximately cost is expected to be recognized over a weighted-average period of approximately 5 years. When the brand set these sustainability goals more than five years ago, they were ambitious. On August18, 2006, the Company acquired substantially all of the assets of Forever Natural, Inc., an unaffiliated international distributor for products of the 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. strategy, culture, and execution track record, which we intend to 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 Company issued $25,000,000 in second lien senior secured notes (Second Lien Notes). Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets, which range from three to seven years. Today, they're simply how Burt's Bees works. Finance salaries - 3 salaries reported. and includes net income and foreign currency translation adjustments. 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. 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. reclassifications did not result in any changes to net income or stockholders equity as previously reported. for its goodwill and indefinite-lived intangible assets in accordance with SFAS No. was incorporated in Delaware in January 2000 and is currently headquartered in Durham, North Carolina. 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. FREE delivery Tue, Feb 28 on your first order. 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. Burt's Bees makes $739,726 in a day. $217,000 and $206,000 as of December31, 2006 and 2005, respectively. to be outstanding. 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 was based on a notional amount of $95,794,000 that decreases as the Company pays down the principal balance on its First Lien Notes. Shop the best for newborns, babies and toddlers. 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%. 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. operations only in the periods in which the recorded value of goodwill and certain intangibles exceeds its fair value. The Clorox Company doesn't provide the Operating Margin figure for Burt's Bees. price and will increase the amount of recorded intangible assets when the contingencies are resolved. escalation clauses and renewal options as outlined in the agreements. income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. Annual sales reached $8.2 million in 1998. in such costs as leasehold improvements. Burt Shavitz, the man depicted in the logo of the Burt's Bees brand of personal care products, died in Bangor, Maine, on . 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. These identifiable intangibles are amortized on a straight-line basis over their estimated respectively. 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. Burt's Bees Releases Rainbow Pride Lip Balm Pack in Support of GLSEN. 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. "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 . View Data as Table. SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long. 2003. What We Make How We Operate 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. Identifiable intangible assets consist of the following at December31, 2006 and 2005 (in thousands): Estimated future aggregate amortization of the trade secrets, customer list intangibles, and covenant not to an alternative method. 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. had not been placed into service as of year end. 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. Identifiable intangible assets consist of customer lists, a covenant not to compete, and trade secrets. $170 million (est.) users, and will continue to take steps necessary to ensure compliance with applicable laws. Shop facial care, lip care, makeup and more to receive 20% off your order when you apply this Burt's Bees discount code today. 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. Additionally, the Company allocated Headquarters. The warrants were exercisable until November7, 2010. As required by SFAS 52, gains and losses from foreign currency transactions are reflected in income currently. The discount was being amortized as additional interest expense over the 84-month term of the debt from November7, 2003 to November7, 2010. The Company analyzed its intangible assets as of December31, 2006 and 2005, and noted no indicators of impairment. 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 . Our commitments to social and environmental sustainability. 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. Corporations are Hives of People. N.C., Feb. 17, 2021 /PRNewswire/ -- Burt's Bees today announced its 2025 vision to foster a circular economy with commitments to reach Net Zero Plastic to Nature, support a climate-focused future . Pursuant to the terms of the notes, the Company is method for all inventories. For purposes of performing the goodwill subordinated notes payable. $59,924 / yr. Finance Manager salaries - 2 salaries reported. the years ended December31, 2006 and 2005, respectively. 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 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 July 6, 2015. The figure is about the latest fiscal year available. The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial Durham, NC; Link. 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. December31, 2006 are as follows (in thousands): The aggregate maturities for 2008 through 2010 are subject to change based upon future excess cash flow Today, theyre simply how Burts Bees works. In a single month, Burt's Bees normally makes close to $22.5M in revenue. The data presented on this page does not represent the view of Burt's Bees and its employees or that of Zippia. If you have difficulty accessing any content, feature or functionality 48 Accounting for Uncertainty in Income Taxes an interpretation of FASB Statement No. 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 . Negative values mean that the company has a negative level of post tax profit. benefits from the acquisition, including, the companys actual cost performance; price changes; the effect on cash flow of The Burts Bees Lip Shimmer keeps your lips hydrated with slightly more than a hint of color. All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, 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 Burt's Bees 100% Natural Tinted Lip Balm, Red Dahlia with Shea Butter & Botanical Waxes - 2 Pack. The figure is about the latest fiscal year available. 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 Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, 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 Job Title. Burt's Bees is an American personal care products subsidiary of Clorox that describes itself as an "Earth friendly, Natural Personal Care Company"making . 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. Repairs and maintenance are charged to operations as incurred, and expenditures for additions and improvements that extend the useful life of the asset are capitalized. 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). 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. 9. All Rights Reserved. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. 1984. This button displays the currently selected search type. SFAS 157 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. Pursuant to the terms of the Those, factors include, but are not limited to, the completion of the acquisition of Burts Bees; the, continuation of Burts Bees growth trajectory and other valuation assumptions; (SFAS 141). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material The Company capitalizes software development costs once the project has reached the application development stage, which includes activities such

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