burt's bees annual report burt's bees annual report

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. Note: Revenues for privately held companies are statistical evaluations. The Clorox Company doesn't provide the information on its shareholders. Pursuant to the terms of the notes, the Company is estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. 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 If you have difficulty accessing any content, feature or functionality 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, It's bad for your eyes, according to a Michigan Medicine expert. Report of Independent Auditors . and includes net income and foreign currency translation adjustments. Uses: Moisturizing and soothing. Burt's Bees >. 10/31/07, markets; look to enter new, high-potential markets, Burts Bees has a strong management team, Prior to adoption, the Company used the The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial users, and will continue to take steps necessary to ensure compliance with applicable laws. All Rights Reserved. "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 . Burt's Bees Releases Rainbow Pride Lip Balm Pack in Support of GLSEN. the years ended December31, 2006 and 2005, respectively. The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. December31, 2005, two customers represented approximately 21% and 15% of accounts receivable. Integrated Annual . Burt's Bees FIN 48 prescribes a comprehensive model for how a company Amazon.com: Burts Bees We are CarbonNeutral certified. to the Senior Subordinated Notes Payable. In conjunction with the repayment, the Company paid a prepayment penalty fee totaling $2,290,000 and the unamortized debt The Best Burt's Bees Annual Report - Home Previews 157, Fair Value Measurements (SFAS 157), to provide enhanced guidance when $1.5 million+ in grants and product donations. $170 million (est.) The notes were secured by substantially all assets of the Company. As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. (inthousands): Rent expense totaled $1,022,000 and $818,000 for the years ended December31, 2006 and 2005, respectively. 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 As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. Intangible assets resulted from a business 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. Pursuant to the terms of the The Clorox Company doesn't provide the Operating Margin figure for Burt's Bees. 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 . PDF 2016 Integrated Annual Report Leasehold improvements are amortized using the straight-line basis over the shorter of the lease earned from customers primarily located in North America. Estimates of fair value are not intended to predict 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. term or the estimated useful life of the asset. The company may also use non-GAAP financial measures, which could differ from, reported results using Generally Accepted Accounting Principles (GAAP). $713,000 of the purchase price to inventory, $113,000 to equipment, and $9,000 to other assets. rates that ranged from 5.31% to 5.52%per annum during 2005. In the 1970s, Roxanne Quimby was trying to live a simpler life - one that rejected the pursuit of material comforts. All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, <style>.fallback-nojs { display: flex; flex-direction: column; justify-content: center; align-items: center; text-align: center; } .fallback-nojs a { color . The figure is about the latest fiscal year available. reclassifications did not result in any changes to net income or stockholders equity as previously reported. Burt's Buzz pays tribute to Shavitz, the man behind Burt's Bees. income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. Thank you! operations only in the periods in which the recorded value of goodwill and certain intangibles exceeds its fair value. About Burt's Bees . rights and Class B common stock is non-voting. consolidated financial statements from the date of acquisition. 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. SFAS 157 applies whenever other pronouncements require Burt's Bees Releases 2018 Progress Update on 2020 Sustainability Goals on our website or on our other electronic platforms, please call us at Paula Alexander, Burt's Bees Senior Director of Sustainability, said: "Our focus has long been centered on [] Burts Bees Daily Face Moisturizer for Sensitive Skin with Night Cream Burt's Bees Sustainability. 0. Burt's Bees Launches Sustainability Initiatives, Including Net Zero Finance salaries - 3 salaries reported. The Clorox Company is committed to making its website accessible for all 5.0 out of 5 stars Perfect for sensitive skin. Accounts receivable are derived from revenue Burt's Bees Revenue: Annual, Quarterly, and Historic - Zippia . 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. 31 December 2020. Cost is determined using the first-in, first-out regulatory matters. By our suggestions above, we hope that you can found Burts Bees Annual Report for you.Please dont forget to share your experience by comment in this post. 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. Press Release of The Clorox Company announcing acquisition agreement 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. Health and wellness is not only our past and present, it's our future. Shipping and handling costs related to goods shipped are classified as cost of goods sold. 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 &. defined in the note agreements. Case Study: Burt's Bees | Bazaarvoice Our responsibility is to express an opinion on these financial statements based on our audits. The aggregate maturities of long-term debt as of 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. Burt's Bees revenue is $270.0M annually. FRIDAY, March 3, 2023 (HealthDay News) -- Don't put lip balm on your eyelid, even if you saw it on TikTok. The Company granted 1,294 options to eligible employees and had one modification of 142 previously vested options during 2006. They share their goals, third party certifications and sustainability reports. View Burt's Bees (www.burtsbees.com) location in North Carolina, United States , revenue, industry and description. Get Discount Code LASTCHANCE20. Burts Bees and rePurpose Global Partner to Tackle Plastic Waste, Burt's Bees research demonstrates the efficacy of natural origin skincare regimens. 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 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. are not limited to, the completion of the acquisition of Burts Bees; the, continuation of Burts Bees growth trajectory and other valuation assumptions; Salary. Over the years, Burt's Bees has become a global natural, conscious skincare brand. Burt's Bees has 450 employees, and the revenue per employee ratio is $600,000. 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. The adoption of SFAS 123(R) resulted in additional compensation 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. 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. A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. Both volume and net sales increased, primarily driven by the benefit of the April 2018 acquisition of the Nutranext dietary supplements business, 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 . The Company has recorded a long term liability of approximately . 9. Additionally, there was $3,189,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. The figure is about the latest fiscal year available. Responsibility. This annual report highlights their mission statement and shares stories from their customers who love the products. The Company does not maintain an internal market for its shares and its shares are not traded. NPR's Elizabeth Blair reports that Shavitz's death resulted from . Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. 130, Reporting Comprehensive Income (SFAS (See footnote 5). The fair value of the interest rate swap was estimated by obtaining a quote from the broker and The transaction is accounted for in accordance with SFAS 141, and the results of operations of Forever Natural are included in the Companys Burts Bees Lip Shimmer keeps your lips hydrated with slightly more than a hint of color. We have struggled to meet our water reduction targets after increasing water use per mass unit of . Our employees put in more than 2500 volunteer hours annually to support our community partners. The Company uses historical data among other factors to estimate forfeiture rates used in the model. Additionally, the Company allocated Infant Death Linked to Contaminated Breast Pump: CDC This button displays the currently selected search type. 99 ($3.33/count) buy 5 to get 5% off. ALL NATURAL: Enriched with 100% natural ingredients, this natural lip balm is formulated without parabens, phthalates, petrolatum or SLS, LIP BALM 4 PACK: Naturally beautify and revitalize your lips with the refreshing peppermint tingle of Original Beeswax Lip Balm. Burt's Bees: Are they Greenwashing? - Sustainably Savvy contributions to the plan up to 4% of the employees annual base salary, commission and bonus. SFAS 157 is effective for the Company beginning on January1, 2008. 2003. Adjustments resulting from the translation of the Companys subsidiaries financial statements from its functional currency to the United States dollar are not included in subordinated notes payable. July 6, 2015. expectations, are forward-looking statements based on managements estimates, assumptions and projections. 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. Burt's Bees, environment, ESG, sustainability. The Company recorded $750,000 of sales, general and administrative expense in the accompanying consolidated statements of income for the years ended The initiatives were announced along with the release of the company's 2020 Impact Report. 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 . FIN 48 is effective for fiscal years beginning after December15, 2006. 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. 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. Burt Shavitz, who died at age 80, had a roadside honey stand. 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. Burt's Bees | LinkedIn UNSCENTED LOTION: This fragrance free belly butter gently and safely moisturizes as your belly and skin stretch during pregnancy. 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 Clorox Company. 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. Burt's Bees 100% Natural Tinted Lip Balm, Red Dahlia with Shea Butter & Botanical Waxes - 2 Pack. common stock, thus resulting in a change of control. respectively. In our opinion, the financial statements referred to above present fairly, in all material Show more Show less Document Information click to expand document information. 100% organic cotton baby clothes, bedding, bath, bodysuits, rompers, jumpsuits and the ultimate baby shower gift selection. Consolidated Financial Statements - SEC Weve been earning peoples trust since 1913. Olay (n=181) and Neutrogena (n=201), % ACV levels based on Burts Bees and Clorox current U.S. distribution as of The increase in earnings before . BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. Finance & Accounting. 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. Effective January1, 2006, the Company 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. Clorox To Buy Burt's Bees - Forbes 109 (FIN 48). Our People; Company began by selling honey, beeswax candles, and furniture polishes at flea markets and craft fairs in Maine. PDF Burt's Bees The value given is the amount of sales needed to generate one currency unit of post tax profit. This is the legacy of our founders who prized nature for its restorative benefits and to this day help preserve wilderness for future generations.. benefits from the acquisition, including, the companys actual cost performance; price changes; the effect on cash flow of We offset our annual water consumption through watershed restoration projects. income for that period. 20,000+ livelihoods impacted Investor Contact (510) 271-7767. investorrelations@clorox.com. The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. The jersey knit allows for stretch for wider feet and the wrap-around . that our audits provide a reasonable basis for our opinion. 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. tax. non-GAAP financial measures, are set forth in the Form 10-K and its Annual sales reached $8.2 million in 1998. cost basis. and administrative expense on the statement of income for that period. recognition and attribution provisions of SFAS 123(R). Responsible for planning and execution of booth and managing attendees for past shows. debt. That's a lesson the folks at Burt's Bees took to heart from the brand's most recent goal period, as its 2020 Impact Report makes clear. Natural and organic cosmetics . Unrealized gains or losses are recorded in earnings as incurred until 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. In a single month, Burt's Bees normally makes close to $22.5M in revenue. These identifiable intangibles are amortized on a straight-line basis over their estimated Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) Award winning pajamas, crib sheets, shampoo and more. Collections of travel-sized samples introduced in mid-1998 became instant best sellers. Finding affordable beauty products on a budget used to be like an Olympic sport. Focused on delivering long-term investor returns through a committment to ESG. Today, they're simply how Burt's Bees works. SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long. 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. FIN 48 revises of which approximately $10,000 and $32,000 was payable as of December31, 2006 and 2005, respectively. Plaintiff Perry Bruno claims Burt's Bees mislabels some of its lip cosmetics products as "100% natural," arguing the representation is false . The First Lien Notes are secured by 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. Burt's Bees is an interesting case, which discusses the success story of an all natural skin care company. An . December31, 2006 are as follows (in thousands): The aggregate maturities for 2008 through 2010 are subject to change based upon future excess cash flow financial institutions. 52, Foreign Currency Translation (SFAS No. Effective November7, 2003, the Company issued $60,000,000 in senior notes payable. US Careers | The Clorox Company Burt Shavitz - Wikipedia Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information Effective November7, 2003, the Company issued $25,000,000 in senior 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. to excess stock-based compensation as a financing activity in its consolidated statements of cash flows. Recycle your Burt's Bees products with Terracycle. Company. Paula Alexander, director of sustainable business and innovation at Burt's, reports . 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. 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. Uploaded by Joshua Gillaspie. In September 2006, the FASB issued Statement of Financial Accounting Standards No. 4 Count. The Company considers many factors Foreign currency transactions are accounted for in We 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. Burt's Bees Inc - Company Profile and News - Bloomberg Markets 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) method for all inventories. 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. Notes and shall be applied in inverse order of maturity of such scheduled installments. year ended December31, 2006, foreign currency losses amounted to $37,000. Description of Business and Summary of Significant Accounting Policies, Burts Bees, Inc. (the Company) is a manufacturer of natural personal care products. 31 December 2018. Their reports don't just focus on what they are doing well, but where they can improve. The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Any additional future cash consideration represents additional purchase Description of Business and Summary of Significant Accounting Policies (continued). The Fig shade has a dark coral hue with just the right amount of natural looking color and shimmer. Effective March29, 2005, the The Company including the, ability to increase distribution; the companys success 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 It's a key measure of success. Shannon Hess - Director - LinkedIn 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. currency translation adjustments. cost is expected to be recognized over a weighted-average period of approximately 5 years. When expanded it provides a list of search options that will switch the search inputs to match . 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. The employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. 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 . companys ability to achieve the projected, strategic and financial