Select Year. 100% (1) 100% found this document useful (1 vote) 357 views. SFAS 157 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. 210 West Pettigrew Street. "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 . 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. year ended December31, 2006, foreign currency losses amounted to $37,000. 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. appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. we purchase directly traced to origin and verified with on-site visits. 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. FIN 48 is effective for fiscal years beginning after December15, 2006. Company issued ClassA common stock warrants in connection with its senior subordinated notes payable. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material FRIDAY, March 3, 2023 (HealthDay News) -- Don't put lip balm on your eyelid, even if you saw it on TikTok. NPR's Elizabeth Blair reports that Shavitz's death resulted from . in such costs as leasehold improvements. 31 December 2019. 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. 123(R), Share-Based Payment, to account for stock-based compensation. During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. Negative values mean that the company has a negative level of post tax profit. Actual results could differ from those estimates. Robert F. Bukaty / AP. Certain of the leases contain Under the terms of this management agreement, the Company will pay this entity $750,000 per It also provides face care products, such as facial cleansers, facial towelettes, facial exfoliants and toners, facial moisturizers, facial treatments, eye creams, mens face care, intense hydration solutions, sensitive solutions, natural acne solutions, radiance products, and naturally ageless products. 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. In our opinion, the financial statements referred to above present fairly, in all material BELLY BUTTER WITH SHEA BUTTER: Designed for mamas, nourish your belly before and after pregnancy with this rich, moisturizing Burts Bees Belly Butter. 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. Integrated Annual . RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. conducted our audits in accordance with auditing standards generally accepted in the United States. 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. 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 pays a quarterly commitment fee of 0.50% on the unused portion of the revolver. Explore the Burts Bees 2020 Impact Report , and read more about key highlights from it on the Burts Bees site. Essay on Burt's Bees annual report. It's a measure of a company's overall profitability, i.e. The initiatives were announced along with the release of the company's 2020 Impact Report. Therefore, the Company estimates volatility based upon provisions of Statement of Financial Accounting Standards No. Annual sales reached $8.2 million in 1998. FREE delivery Tue, Feb 28 on your first order. Burts Bees 100% Natural Moisturizing Lip Balm, Original Beeswax with Vitamin E & Peppermint Oil4 Tubes (Packaging May Vary), Burts Bees Mama Bee Belly Butter, Fragrance Free Lotion, 6.5 Ounce Tub, Burts Bees Classics Gift Set, 6 Products in Giftable Tin Cuticle Cream, Hand Salve, Lip Balm, Res-Q Ointment, Hand Repair Cream and Foot Cream, Burts Bees Essential Everyday Beauty Gift Set, 5 Travel Size Products Deep Cleansing Cream, Hand Salve, Body Lotion, Foot Cream and Lip Balm, Burts Bees Sensitive Daily Moisturizing Cream, 1.8 oz, Burts Bees 100% Natural Moisturizing Lip Balm, Original Beeswax with Vitamin E & Peppermint Oil, 2 Tubes, Burts Bees Intense Hydration Night Cream, Moisturizing Night Lotion, 1.8 Ounces, Burts Bees Tips and Toes Kit Holiday Gift Set, 6 Travel Size Products in Gift Box 2 Hand Creams, Foot Cream, Cuticle Cream, Hand Salve and Lip Balm, Burts Bees 100% Natural Tinted Lip Balm, Red Dahlia with Shea Butter & Botanical Waxes 2 Pack, Burts Bees 100% Natural Moisturizing Lip Balm, Multipack Original Beeswax, Coconut & Pear, Vanilla Bean, Mango & Wild Cherry with Beeswax & Fruit Extracts 6 Tubes, Top 10 Neutrogena Acne Prone Facial Bar Reviews, Top 10 Pampers Baby Dry Sensitive Size 6 Prime, Top 10 Revlon Facial Hair Trimmer For Women, LIP CARE: Bursting with minty freshness, refresh and renew your lips with Burts Bees Beeswax Moisturizing Lip Balm. 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 Company granted 1,294 options to eligible employees and had one modification of 142 previously vested options during 2006. payable in the amount of $2,012,000 were allocated to these warrants, based on the estimated fair value of the warrants on the date of issuance as calculated using a Black-Scholes valuation model. Allowances for sales returns are recorded as reductions of accounts receivable on the balance sheet and the provision recorded as a reduction of revenue on the statement of The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as defined in the note agreements. test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. 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 . Intangible assets resulted from a business The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences weighted average grant date fair value per share for shares issued in 2006 is $3,617. About the company. Proceeds from the issuance of the notes $94,279,000. payments and the success of new products. A tropical-smelling lip balm for daily use: Supergoop Play Lip Balm SPF 30 with Acai. 5.0 out of 5 stars Perfect for sensitive skin. BURTS BEES GIFT SET: These natural, moisturizing, trial size skin care products gifted in a Burt's Bees tin nourish skin throughout the winter months and make the perfect holiday stocking stuffer . 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 incurred debt issuance costs of $769,000 in connection with this issuance. and 2005 will begin to expire in 2007 if not used. 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. View Data as Table. for the years ended December31, 2006 and 2005, respectively. The Company has recorded approximately $50,000 and $33,000 in accretion expense in Thank you! statements. currency translation adjustments. The Company expenses costs of advertising and promotional costs as incurred. time to time in the companys SEC filings. FIN 48 revises Our commitments to social and environmental sustainability. users, and will continue to take steps necessary to ensure compliance with applicable laws. The Company is currently assessing the impact of The most calculations, as defined in the agreement. 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. recognition of approximately $544,000 of intangible assets attributable to the anticipated future earnings and related cash flows of the customer list and distribution channel acquired from the acquisition. 31 December 2018. Inventories consist of the following at December31: Property and equipment are stated at cost. Document Information click to expand document information. $1.5 million+ in grants and product donations. Shop the best for newborns, babies and toddlers. The company may also use non-GAAP financial measures, which could differ from, reported results using Generally Accepted Accounting Principles (GAAP). Founded. None of the information on this page has been provided or approved by Burt's Bees. 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 Shavitz, the man depicted in the logo of the Burt's Bees brand of personal care products, died in Bangor, Maine, on . 109, Accounting for Income Taxes (SFAS 109). 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. Weve been earning peoples trust since 1913. Company. 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. That It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. She moved to Maine, built a cabin in the woods . Over the years, Burt's Bees has become a global natural, conscious skincare brand. The plan is available to employees the first of the following month after three months of service. 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 Burt's Buzz pays tribute to Shavitz, the man behind Burt's Bees. Description: Essay on Burt's Bees annual report. how much of its sales are converting to profit. 501 to 1,000. How I Built This with Guy Raz. 31 December 2017. Note: Revenues for privately held companies are statistical evaluations. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, strategy, culture, and execution track record, which we intend to 142, Goodwill and Other Intangible Assets (SFAS No. 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). Company. When the brand set these sustainability goals more than five years ago, they were ambitious. In 2005, the Company paid an affiliate of a companys most recent Form 10-K, filed with the SEC, as updated from 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 Position 98-1, Accounting for Costs of Computer Software Developed or Obtained for Internal Use. Revenue and expense accounts are Foreign currency transactions are accounted for in Recycle your Burt's Bees products with Terracycle. Income taxes are accounted for pursuant to Statement of Cost is determined using the first-in, first-out The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of The Company Company began by selling honey, beeswax candles, and furniture polishes at flea markets and craft fairs in Maine. 99 ($3.33/count) buy 5 to get 5% off. 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. issuance costs totaling $613,000 were recorded as a component of interest expense in 2005. These notes were repaid on March29, 2005. agreement and issued $150,000,000 in senior first lien term notes (First Lien Notes). All Rights Reserved. The following methods and 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, You are what you measure. When the brand set these sustainability goals more than five years ago, they were ambitious. 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. income for that period. 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. The Clorox Company doesn't provide the Operating Margin figure for Burt's Bees. The Company may be required to make additional future cash Star rating: 4.8/5 Potential allergens: Glycerin Active ingredients: Cotton extract. The Clorox Company doesn't provide the information on its shareholders. Canada ULC. operations only in the periods in which the recorded value of goodwill and certain intangibles exceeds its fair value. 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 It is classified as operating in the Pharmacies & Drug Stores industry. Pursuant to the terms of the notes, the Company is What We Make How We Operate And sometimes, what you measure, you become. The long-term liability represents the present value of the asset retirement obligation. Burt Shavitz, who died at age 80, had a roadside honey stand. Those, factors include, but As discussed in Note 1 to the financial statements, effective January1, 2006, the Company adopted the in retaining key Burts Bees, employees, suppliers and customers; the On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the consumer was asked about one other random company from which they had purchased personal care items; Core is a weighted average of Tom's (n=81), Kiss My . 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