The Company may be required to make additional future cash assets of the Company, which was unused in 2006. Description of Business and Summary of Significant Accounting Policies (continued). The In June 2006, the Financial Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. 109 (FIN 48). This is the legacy of our founders who prized nature for its restorative benefits and to this day help preserve wilderness for future generations.. At December31, 2006, two customers represented approximately 27% and 14% of accounts receivable. regulatory matters. income for that period. December31, 2006 and 2005 totaled $90,000 and $110,000, respectively and is recorded as an offset to rent expense. Thank you! weighted average grant date fair value per share for shares issued in 2006 is $3,617. Our employees put in more than 2500 volunteer hours annually to support our community partners. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences 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. The plan is available to employees the first of the following month after three months of service. Policies (continued). The assumptions for the Black-Scholes-Merton model used in determining the fair value of options granted to employees for the year ended December31, 2006 were: The option-pricing model uses a forecast of the volatility of the Companys common stock during the expected Sarah has advanced quickly in her career, and . About Burt's Bees . 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 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) In 2006, $31,000 of tax benefits were reported as a financing activity. 1999. . Burt's Bees 100% Natural Tinted Lip Balm, Red Dahlia with Shea Butter & Botanical Waxes - 2 Pack. The customer represented approximately 14% of total revenue. "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 . 1984. attached document, including, statements about the success of the Submitted by Burt's Bees. 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. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. Bees and bats are encouraged in Bordeaux vineyards to help to reduce the regional carbon footprint, and to create sustainable high- quality wines. 4 Count. Inventories are stated at the lower of cost or market. Reviewed in the United States on February 1, 2023. Burt's Bees was the leading lip balm/treatment brand in the United States in 2019, generating sales of over 140 million U.S. dollars in that year. cost basis. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, Document Information click to expand document information. These financial statements are the The increase in earnings before . Weve been earning peoples trust since 1913. Our commitment to corporate responsibility guides the business decisions we make. Description of Business and Summary of Significant Accounting I, for one, don't have time for that, and my beauty collection (and wallet) suffered. Accounts receivable are derived from revenue currency translation adjustments. 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. escalation clauses and renewal options as outlined in the agreements. The following methods and Burt's Bees makes $739,726 in a day. 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. 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). 141, Business Combinations 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, Called "beezin'," because the trend is to use Burt's Bees lip balm in particular, some . Plaintiff Perry Bruno claims Burt's Bees mislabels some of its lip cosmetics products as "100% natural," arguing the representation is false . Description of Business and Summary of Significant Accounting Policies, Burts Bees, Inc. (the Company) is a manufacturer of natural personal care products. 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. Burt's Buzz pays tribute to Shavitz, the man behind Burt's Bees. Pursuant to the terms of the Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) She moved to Maine, built a cabin in the woods . Archived Annual Reports. 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. 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. We intend to, pay down debt and return to long-term target of 3.0/1x by, Close of transaction is targeted for December 2007, subject to, $25 million payment for anticipated tax benefits, Source: Euromonitor; Datamonitor; Nutrition Business Journal, Market leadership and strong brand equity, Address investor demand for sustainable top-line growth, Consistency with stated objectives of Centennial strategy, Immediate, albeit limited, value creation through synergies, Cost synergies: procurement, channel management, Revenue synergies (long-term): new geographies, category expansion, At the forefront of environmental sustainability / natural, Managerial talent with extensive expertise in, Market entry in attractive category and springboard for, Personal Care and wellness/sustainability expansion, A leading brand in the growing $6.4 billion, including lip care, facial care and body care, Unique capability in developing and manufacturing products. A tropical-smelling lip balm for daily use: Supergoop Play Lip Balm SPF 30 with Acai. 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 . Kathleen M. Sarnes. 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 preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimated bad debts and sales returns and allowances. Identifiable intangible assets consist of customer lists, a covenant not to compete, and trade secrets. In 2006, the Board of Directors debt. When the brand set these sustainability goals more than five years ago, they were ambitious. The Company applies the provisions of Statement of Financial Accounting Standards No. $94,279,000. Effective November7, 2003, the Company A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. FIN 48 revises 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. In 2006, two customers each represented approximately 16% of total revenue, and in 2005, a single The figure is about the latest fiscal year available. Company. 142). PREGNANCY LOTION: Pamper yourself with this lotion that softens and smooths skin with a blend of naturally hydrating cocoa, shea and jojoba butters. SFAS 157 applies whenever other pronouncements require This button displays the currently selected search type. It represents the brand's turnover from the sales of finished goods through all of the distribution channels - retail, wholesale and e-commerce, after the deduction of returns, allowances for damaged or missing goods and any discounts allowed. The Company has recorded approximately $50,000 and $33,000 in accretion expense in The Company accounts The Company amortizes the 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. Price: $11. You had to clip coupons, scour the web for deals, and wait around for annual sales to pick up new things or old favorites. These 2,260 shares had been granted and were outstanding, and 587 shares were vested. 9. Sales are recorded net of an estimated 157, Fair Value Measurements (SFAS 157), to provide enhanced guidance when as coding, installation of hardware, and software configuration. 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 Verified Purchase . Burt's Bees Sustainability. years from the date of grant. What We Make How We Operate 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. When expanded it provides a list of search options that will switch the search inputs to match . The Company recorded identifiable intangible assets of $36,368,000 at their estimated fair values, and goodwill of $117,212,000 identified at the date of investment. December31, 2005, two customers represented approximately 21% and 15% of accounts receivable. year in quarterly installments in exchange for certain advisory and consulting services. <style>.fallback-nojs { display: flex; flex-direction: column; justify-content: center; align-items: center; text-align: center; } .fallback-nojs a { color . July 6, 2015. including the, ability to increase distribution; the companys success The allocation of the purchase price, including transaction costs, resulted in the an alternative method. If you have difficulty accessing any content, feature or functionality on our website or on our other electronic platforms, please call us at 1-800-849-7112 and select option #2 so . Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. 1. . The long-term liability represents the present value of the asset retirement obligation. Amortization expense related to the warrants for the Common Stock and Common The Clorox Company doesn't provide the information on its shareholders. $100M to $500M (USD) Industry. about one other random company from which they had purchased personal care items; Core is a weighted average of Toms (n=81), Kiss My, Face (n=28), Dr. Bronners (n=13) and Jason (n=31); Mass is a weighted average of Aveeno (15), Company issued ClassA common stock warrants in connection with its senior subordinated notes payable. of its leases. As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which I was invited to paint a mural for their annual culture day to honor the passing of the company's founder, Burt Schavitz. Investor Contact (510) 271-7767. investorrelations@clorox.com. Address. Durham, NC 27701. burtsbees.com. 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. 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. The Company incurred debt issuance costs of $769,000 in connection with this issuance. Burt's Bees lip balm targeted over 'all natural' label, The Clorox Company Signs 47-Megawatt Virtual Power Purchase Agreement, The Clorox Company today announced the launch of a new initiative to advance environmental justice. The profit ratio measures the amount of profit generated by each single currency unit of sales. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. Feb 2, 2022. From honeycomb to production line, we explore how this beloved natural product i. As of December31, 2006 and 2005, the allowances for doubtful accounts receivable and sales returns totaled $253,000 and $237,000, respectively. Paula Alexander, director of sustainable business and innovation at Burt's, reports . 100% (1) 100% found this document useful (1 vote) 357 views. We are CarbonNeutral certified. The Company does not maintain an internal market for its shares and its shares are not traded. Or perhaps you need help to leverage your brand's power to deliver real business impact? Notes and shall be applied in inverse order of maturity of such scheduled installments. The warrants were exercisable until November7, 2010. 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. will realize the benefits of these deductible differences. Burt's Bees is an interesting case, which discusses the success story of an all natural skin care company. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material $713,000 of the purchase price to inventory, $113,000 to equipment, and $9,000 to other assets. inventory cost. 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. Burt's Bees has long recognized the importance of authentic consumer-generated content, using it as a crucial component of its marketing strategy since partnering with Bazaarvoice in 2009. 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. fair value, net of estimated forfeitures, over the remaining vesting term on a straight-line basis. 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.