Submitted by Burt's Bees. 4 Count. Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information Thus, no valuation allowance for the deferred tax assets has been recorded. 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. The Board of Directors and Stockholders Burts Bees, Inc. We have audited the accompanying consolidated balance 45% of oils, waxes and butters. 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). Actual results could differ from those estimates. We believe 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. The Company has elected to perform its annual impairment test as of December31 of each calendar year. As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. December31, 2006 and 2005, related to this management agreement. Burt Shavitz poses on his property in Parkman, Maine on May 23, 2014. 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 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. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material Essay on Burt's Bees annual report. The new report from the U.S. Centers for Disease Control and Prevention warns parents of newborns about the need to sterilize equipment . The figure is about the latest fiscal year available. 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. estimated bad debts and sales returns and allowances. Those, factors include, but Burts Bees Lip Shimmer keeps your lips hydrated with slightly more than a hint of color. Pursuant to the terms of the weighted average grant date fair value per share for shares issued in 2006 is $3,617. Show more Show less Responsible for planning and execution of booth and managing attendees for past shows. FIN 48 revises In misstatement. 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 . In a single month, Burt's Bees normally makes close to $22.5M in revenue. Position 98-1, Accounting for Costs of Computer Software Developed or Obtained for Internal Use. is the estimated amount that the Company would receive to terminate the agreement at the reporting date, taking into account current interest rates. In accordance with SFAS No. Burt's Bees is a natural brand focused on using only the highest quality ingredients for their products. Burt's Bees is an American personal care products subsidiary of Clorox that describes itself as an "Earth friendly, Natural Personal Care Company"making . When the brand set these sustainability goals more than five years ago, they were ambitious. It's a measure of a company's overall profitability, i.e. Important factors that could cause results to Estimates of fair value are not intended to predict 20,000+ livelihoods impacted As the 2006 amount is expected to be paid by Burt's Bees products help you put your best foot, lips, skin and sense of well-being forward. become deductible. 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. Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. exhibits furnished to the SEC, which is posted at. 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 employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. tax. in such costs as leasehold improvements. 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. Under the terms of this management agreement, the Company will pay this entity $750,000 per Burt Shavitz, the man whose face is on your minty Burt's Bees lip balm and body wash, died on Sunday in Bangor, Maine. 1999. . Common Stock and Common Verified Purchase . The value given is the amount of sales needed to generate one currency unit of post tax profit. 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. 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 lip shimmer comes in one slim tube and is available in 14 shimmering shades. 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. Over the years, Burt's Bees has become a global natural, conscious skincare brand. On April21, 2005, the Company entered into an interest rate swap to hedge against the impact on cash flows of changes in interest rates For the Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. 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. 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. 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. 2003, the Company issued warrants to purchase 308 shares of ClassA common stock at an exercise price of $.001 per share in connection with the issuance of the Senior Subordinated Notes Payable (Note 5). Reviewed in the United States on February 1, 2023. 31 December 2020. The Company SFAS No. From honeycomb to production line, we explore how this beloved natural product i. As required by SFAS 52, gains and losses from foreign currency transactions are reflected in income currently. Robert F. Bukaty / AP. 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. We are CarbonNeutral certified. << BACK TO WORK. Therefore, the Company estimates volatility based upon The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of on our website or on our other electronic platforms, please call us at I, for one, don't have time for that, and my beauty collection (and wallet) suffered. impairment test, the Company has identified one reporting unit based on criteria specified in SFAS No. 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 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 View Burt's Bees (www.burtsbees.com) location in North Carolina, United States , revenue, industry and description. Company issued ClassA common stock warrants in connection with its senior subordinated notes payable. 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. Effective November7, 2003, the Company issued $25,000,000 in senior Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. 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. 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. Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash equivalents and accounts receivable. ET. earned from customers primarily located in North America. appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. 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 100% (1) 100% found this document useful (1 vote) 357 views. The Headquarters. 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 notes, the Company was required to prepay the principle of the senior 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 uses historical data among other factors to estimate forfeiture rates used in the model. The Company recognizes revenue on sales when products are shipped and the customer takes ownership and assumes risk of loss. About the company. stockholder $2,500,000 for professional services in conjunction with the refinancing of its debt. 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. Homepage global.header.aria.smallmenu 0. It is effective for daily use and has been Awarded National Eczema Association Seal of Acceptance, BURTS BEES FACE CARE: Use this moisturizer daily as part of Burts Bees Sensitive Face Care 5 product regimen for a healthier looking complexion, naturally, 2 PACK LIP CARE: Apply Burts Bees Moisturizing Beeswax Lip Balm to nourish and hydrate your lips with a dash of peppermint, WITH PEPPERMINT OIL: Hydrate and sooth dry lips with beeswax and a dash of peppermint extract packed into every tube of Burts Bees Beeswax Lip Balm, SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long, ALL NATURAL: Enriched with 100% natural ingredients, this natural lip balm is formulated without parabens, phthalates, petrolatum or SLS, LIP BALM: Treat your lips to a spa retreat with this refreshing lip balm that naturally beautifies and revitalizes your lips, NIGHT CREAM: Help restore the delicate skin on your face with this nourishing Burts Bees night cream enriched with natural, anti-aging ingredients, NATURAL SKIN TREATMENT: This 98.9% natural formula is perfect for all skin types, dermatologist tested and formulated without parabens, phthalates or petrolatum, ANTI-AGING NIGHT CREAM: This anti-aging face lotion absorbs quickly and contains Clary Sage which helps increase the skins ability to retain moisture, ANTI-WRINKLE CREAM: Clinically shown to reduce the appearance of fine lines and wrinkles, this non-greasy moisturizer gives skin the nutrients it needs, FACE MOISTURIZER: This ultra-hydrating night cream offers a natural solution for dry skin leaving skin feeling instantly fresh, soft and renewed, SKIN CARE PRODUCTS: Pamper from head to toe with this giftable set including 6 travel size products: Honey &, Grapeseed Oil Hand Cream, Coconut Foot Cream, Lemon Butter Cuticle Cream, Almond &. The Company has recorded approximately $50,000 and $33,000 in accretion expense in The Fig shade has a dark coral hue with just the right amount of natural looking color and shimmer. FREE delivery Tue, Feb 28 on your first order. (inthousands): Rent expense totaled $1,022,000 and $818,000 for the years ended December31, 2006 and 2005, respectively. We were not engaged to perform an audit of the Companys internal control over financial reporting. 45 ($17.42/Ounce) $9.93 with Subscribe & Save discount. earnings growth, profitability, costs, cost savings, innovation or. That to excess stock-based compensation as a financing activity in its consolidated statements of cash flows. All intercompany accounts and transactions have been eliminated in consolidation. Prior to adoption, the Company used the On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the Burt's Bees >. The valuation allowance is charged to the provision for inventory which is a CHECK PRICE. (SFAS 141). escalation clauses and renewal options as outlined in the agreements. Recycle your Burt's Bees products with Terracycle. companys strategy and acquisitions as well as future, volume, sales and These identifiable intangibles are amortized on a straight-line basis over their estimated Our People; On August18, 2006, the Company acquired substantially all of the assets of Forever Natural, Inc., an unaffiliated international distributor for products of the Policies (continued). The discount was being amortized as additional interest expense over the 84-month term of the debt from November7, 2003 to November7, 2010. FIN 48 prescribes a comprehensive model for how a company Company size. It is an unusual concept but the founder Roxanne Quimby saw the market for such a product and immediately started acting upon this opportunity to create the best skin care company in the world. What We Make How We Operate 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. for its goodwill and indefinite-lived intangible assets in accordance with SFAS No. cost basis. 142, goodwill and certain intangibles are not amortized into results of operations, but instead are reviewed for impairment at least annually and written down and charged to The Companys existing recorded assets and liabilities were deemed to approximate at fair value at the date of investment, and the balance sheet did not change significantly between the transaction date and December31, Advertising and promotional expenses totaled $9,718,000 and $11,230,000 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. $82,865 / yr. The Company monitors customers payment history and establishes reserves for In 2005, the Company amended the plan whereby the Company will match 100% of the first 3% and 50% of the next 2% of the employee This button displays the currently selected search type. Revenue and expense accounts are Negative values mean that the company has a negative level of post tax profit. 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.
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