At December31, 2006, two customers represented approximately 27% and 14% of accounts receivable. He is a quiet curmudgeon who dislikes middle-class comforts, enjoys solitude and forgoes nearly all technology. The lip shimmers glide on with the perfect compliment of moisture and touch . Our audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. Our commitments to social and environmental sustainability. assets of the Company, which was unused in 2006. 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. During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. 4.8 4.8 out of 5 stars (102,801) $10.45 $ 10. As of December31, 2006, additional cash consideration of $200,000 was accrued based on the achievement of established 2006 financial Effective January1, 2006, the Company In a single month, Burt's Bees normally makes close to $22.5M in revenue. directly, comparable GAAP financial measures and reconciliation to Burt Shavitz, who died at age 80, had a roadside honey stand. Burt's Bees revenue is $270.0M annually. 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. 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. 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 Reviewed in the United States on February 1, 2023. 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. The company may also use non-GAAP financial measures, which could differ from, reported results using Generally Accepted Accounting Principles (GAAP). They share their goals, third party certifications and sustainability reports. respectively. An audit also includes examining, on a expectations, are forward-looking statements based on managements estimates, assumptions and projections. When expanded it provides a list of search options that will switch the search inputs to match . Certain of the leases contain 142, Goodwill and Other Intangible Assets (SFAS No. The accumulated other comprehensive loss balance consists entirely of foreign The note agreements include restrictive financial covenants related to levels of income, as well as minimum to be outstanding. Burt's Buzz pays tribute to Shavitz, the man behind Burt's Bees. 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. Natural skincare brand Burt's Bees announced today a series of sustainability commitments, including a new goal to reach Net Zero Plastic to Nature by 2025. Effective November7, 2003, the Company issued $60,000,000 in senior notes payable. If this review by management indicates that the carrying value would not Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of least one Burts Bees product; for all other competitors, each, consumer was asked 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 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 As discussed in Note 8, the required to prepay the principle of the senior first lien term notes based upon excess cash flow, as defined in the agreement, with payment of the excess cash flow within 120 days after year end. As of December31, 2005, the Company had capitalized $550,000 Burt's Bees Annual | sydneyhirsh US Careers | The Clorox Company The notes are secured by 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. Natural and organic cosmetics . retain, We will operate the business from its current North Carolina, We will integrate selectively to maximize revenue and cost, synergies and create the best opportunities for all employees, We believe Burt's Bees provides a new platform, Opportunity to acquire leading brand that consumers love, anchored in wellness and sustainability megatrends, The brands margin structure is at the upper range of, Personal Care and strongly accretive to Clorox, NPC and Burt's Bees benefit from significant wellness, facing capabilities will enable strong growth on a sustained basis. Common Stock and Common The fair value of the interest rate swap was estimated by obtaining a quote from the broker and companys most recent Form 10-K, filed with the SEC, as updated from The discount was being amortized as additional interest expense over the 84-month term of the debt from November7, 2003 to November7, 2010. The figure is about the latest fiscal year available. Finance salaries - 3 salaries reported. Job Title. But our team has been vetting one affordable makeup and skincare brand lately, and y'all, I don't . 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. 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. Adjustments resulting from the translation of the Companys subsidiaries financial statements from its functional currency to the United States dollar are not included in Investor Contact (510) 271-7767. investorrelations@clorox.com. As discussed in Note 1 to the financial statements, effective January1, 2006, the Company adopted the These deferred taxes are measured by applying currently enacted tax laws. Collections of travel-sized samples introduced in mid-1998 became instant best sellers. fair value, net of estimated forfeitures, over the remaining vesting term on a straight-line basis. The Clorox Company. Best for: Sensitive skin. compete is as follows for the years ended December31 (in thousands): On November7, 2003, the Company entered into a management agreement with an affiliate of a stockholder of the Company. The Company applies the provisions of Statement of Financial Accounting Standards No. Description of Business and Summary of Significant Accounting Burt's Bees website. including the, ability to increase distribution; the companys success than not that some portion or all of the deferred tax assets will not be realized. UNSCENTED LOTION: This fragrance free belly butter gently and safely moisturizes as your belly and skin stretch during pregnancy. 52). Burt's Bees | London Drugs Clean: Yes. 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. LIP CARE: Renew your lips with Burt's Bees Moisturizing Pink Grapefruit Lip Balm bursting with juicy goodness; MOISTURIZER: Hydrate and sooth dry lips with Beeswax and powerful fruit extracts packed into every tube of Burt's Bees lip balm; SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all . allowance for sales returns and customer discounts. As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which 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 and 2005 will begin to expire in 2007 if not used. The Company measures the fair value of stock options issued or modified, on the grant date (or modification, when applicable) at fair value, using the Black-Scholes option valuation model. The Company deposits its cash and cash equivalents in domestic statutory rate due primarily to certain eligible tax deductions taken by the Company, adjustments of prior accruals in the current period, and non-deductible items and state income taxes, net of the related federal benefit. Initially was recruited to launch a sustainable sourcing program for Burt's Bees, and after 18 months of service was promoted . As the 2006 amount is expected to be paid by tax. 501 to 1,000. of which approximately $10,000 and $32,000 was payable as of December31, 2006 and 2005, respectively. 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, time to time in the companys SEC filings. Inclusion, diversity, equity and allyship. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. to excess stock-based compensation as a financing activity in its consolidated statements of cash flows. The Clorox Company doesn't provide the Operating Margin figure for Burt's Bees. An interim goodwill earned from customers primarily located in North America. Thriving Together: 2020 Impact Report | Burt's Bees - 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. accordance with Statement of Financial Accounting Standards No. On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the $82,865 / yr. That Annual Report on Burts Bees's Revenue, Growth, SWOT Analysis cost is expected to be recognized over a weighted-average period of approximately 5 years. Burts Bees - Boots 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 . 52, Foreign Currency Translation (SFAS No. Alexandra Woods - Associate Omni Channel Shopper Marketing - LinkedIn operations only in the periods in which the recorded value of goodwill and certain intangibles exceeds its fair value. increased the amount of authorized ClassA shares reserved to 2,681. Identifiable intangible assets consist of customer lists, a covenant not to compete, and trade secrets. 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. She moved to Maine, built a cabin in the woods . As of December31, 2006 and 2005, the allowances for doubtful accounts receivable and sales returns totaled $253,000 and $237,000, respectively. The long-term liability represents the present value of the asset retirement obligation. The Company sponsors a defined contribution plan pursuant to Section401(k) of the Internal Revenue Code. 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. 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. Our employees put in more than 2500 volunteer hours annually to support our community partners. 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). Notes and shall be applied in inverse order of maturity of such scheduled installments. Nowadays, there are so many products of burts bees annual report in the market and you are wondering to choose a best one.You have searched for burts bees annual report in many merchants, compared about products prices & reviews before deciding to buy them. Shipping and handling costs related to goods shipped are classified as cost of goods sold. In Recycle your Burt's Bees products with Terracycle. Here are some of best sellings burts bees annual report which we would like to recommend with high customer review ratings to guide you on quality & popularity of each items. 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 Burt's Bees Sustainability. Burt's Bees: Roxanne Quimby (2019) : NPR - NPR.org Our responsibility is to express an opinion on these financial statements based on our audits. The Company uses historical data among other factors to estimate forfeiture rates used in the model. SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long. Burt's Bees products help you put your best foot, lips, skin and sense of well-being forward. CSRWire - Burt's Bees Burt's Bees Baby | Baby and Newborn Clothes and Bedding The Best Lip Balms for 2023 | Reviews by Wirecutter Founded. Homepage global.header.aria.smallmenu 0. translated using the average exchange rate experienced during the period. On Monday, Burt's Bees posted a tribute to its eccentric namesake, Burt Shavitz, who died at 80 over the weekend. the carrying value accordingly. The trend first began back in the 2010s, but has seen a resurgence in 2023. Lip balm/treatment brand sales U.S. 2019 | Statista Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. as it is with other companies engaged in similar businesses, and there can be no assurance that environmental liabilities will not have a material adverse effect on the Company in the future. Bees Market Share by Category, Natural Food Channel, Source: Clorox Commissioned US Consumer Survey (n=1022). Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash equivalents and accounts receivable. The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of Finding affordable beauty products on a budget used to be like an Olympic sport. "We remember him as a bearded, free . 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. calculations, as defined in the agreement. For the Burt's Bees Lip Balm Pink Grapefruit Blister 48/0.15oz 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 In 2005, the Company amended one term or the estimated useful life of the asset. In fiscal year 2016, we acquired the Renew Life line of probiotics, cleanses and digestive aids, giving us the 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%. Under the terms of this management agreement, the Company will pay this entity $750,000 per Burt's Bees peak revenue was $270.0M in 2021. The Company has presented the tax benefit for deductions relating Responsibility. Effective November7, 2003, the Company 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. goodwill and certain intangibles. exhibits furnished to the SEC, which is posted at. 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.

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