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. Notes to Consolidated Financial Statements (continued), 1. Accordingly, we express no such opinion. In September 2006, the FASB issued Statement of Financial Accounting Standards No. 10/31/07, markets; look to enter new, high-potential markets, Burts Bees has a strong management team, Effective November7, 2003, the Company issued $60,000,000 in senior notes payable. 100% (1) 100% found this document useful (1 vote) 357 views. to excess stock-based compensation as a financing activity in its consolidated statements of cash flows. View Data as Table. As of December31, 2006, additional cash consideration of $200,000 was accrued based on the achievement of established 2006 financial estimated bad debts and sales returns and allowances. inventory cost. 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. Description: Essay on Burt's Bees annual report. will realize the benefits of these deductible differences. 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. - 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. FIN 48 revises Price: $11. Revenue. appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. Uploaded by Joshua Gillaspie. As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which Note: Revenues for privately held companies are statistical evaluations. Burt's Bees website. << BACK TO WORK. The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial 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. The fair value of each award granted subsequent to the adoption of SFAS 123(R) was estimated on the date of grant using the Black-Scholes-Merton option-pricing model, which uses the assumptions in the following table. The discount was being amortized as additional interest expense over the 84-month term of the debt from November7, 2003 to November7, 2010. 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. The Company has recorded approximately $50,000 and $33,000 in accretion expense in These factors include, but are not limited to, the completion of the . 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 About the company. benefits from the acquisition, including, the companys actual cost performance; price changes; the effect on cash flow of issued by the Burt's Bees Foundation to protect biodiversity and reconnect people to nature. had not been placed into service as of year end. Finance salaries - 3 salaries reported. 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 Accounts receivable are derived from revenue Collections of travel-sized samples introduced in mid-1998 became instant best sellers. 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. On April21, 2005, the Company entered into an interest rate swap to hedge against the impact on cash flows of changes in interest rates the carrying value accordingly. 9. 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. She moved to Maine, built a cabin in the woods . Thank you! The most Effective January1, 2006, the Company Reviewed in the United States on February 1, 2023. The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. 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. Burt's Bees Natural Vitality CALM Neocell Rainbow Light RenewLife. respectively. The note agreements include restrictive financial covenants related to levels of income, as well as minimum Except for historical information, matters discussed in the 31 December 2017. 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. on our website or on our other electronic platforms, please call us at of which approximately $10,000 and $32,000 was payable as of December31, 2006 and 2005, respectively. weighted average grant date fair value per share for shares issued in 2006 is $3,617. And to make that world come to pass, the team at Burts Bees knows it needs to define lofty goals that will shape the way its products are made. Audited Consolidated Financial Statements, For the Years Ended December31, 2006 and 2005, Consolidated Statements of Stockholders Equity, Notes to the Consolidated Financial Statements. 2006 and 2005, respectively. and such amounts recognized for income tax purposes. The accumulated other comprehensive loss balance consists entirely of foreign 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. Pursuant to the terms of the notes, the Company is Effective March29, 2005, the 31 December 2018. Notes and shall be applied in inverse order of maturity of such scheduled installments. Called "beezin'," because the trend is to use Burt's Bees lip balm in particular, some . in the Investors/Financial Information/SEC Filings section. $82,865 / yr. The profit ratio measures the amount of profit generated by each single currency unit of sales. Estimates of fair value are not intended to predict are not limited to, the completion of the acquisition of Burts Bees; the, continuation of Burts Bees growth trajectory and other valuation assumptions; non-GAAP financial measures, are set forth in the Form 10-K and its 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). 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. In accordance with SFAS No. 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. If this review by management indicates that the carrying value would not An interim goodwill accordance with Statement of Financial Accounting Standards No. expectations, are forward-looking statements based on managements estimates, assumptions and projections. cost is expected to be recognized over a weighted-average period of approximately 5 years. Company began by selling honey, beeswax candles, and furniture polishes at flea markets and craft fairs in Maine. The Company incurred debt issuance costs of $2,241,000 in connection with these notes. The Company recognizes revenue on sales when products are shipped and the customer takes ownership and assumes risk of loss. Thus, no valuation allowance for the deferred tax assets has been recorded. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. In fiscal year 2016, we acquired the Renew Life line of probiotics, cleanses and digestive aids, giving us the users, and will continue to take steps necessary to ensure compliance with applicable laws. NATURAL SKIN CARE: This lotion for moms to be is non-irritating and 99% natural formulated without phthalates, parabens, petrolatum, or SLS. Every day. 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. SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long. Document Information click to expand document information. Award winning pajamas, crib sheets, shampoo and more. accordance with the terms of the Stockholders Agreement, the Company redeemed an aggregate of 9,778 shares of ClassA common stock from the Stockholders and the Buyer purchased a majority of the Stockholders remaining ClassA Represented Burt's Bees at Natural Products Expo West trade show. These deferred taxes are measured by applying currently enacted tax laws. on the First Lien Notes. provisions of Statement of Financial Accounting Standards No. life of the option. Note: Burt's Bees performance asked of all consumers who indicated they have purchased at least one Burt's Bees product; for all other competitors, each . The Effective November7, 2003, the Company recognition and attribution provisions of SFAS 123(R). 501 to 1,000. (See footnote 5). Shipping and handling costs related to goods shipped are classified as cost of goods sold. useful lives, ranging from seven to ten years. subordinated notes payable. The transaction is accounted for in accordance with SFAS 141, and the results of operations of Forever Natural are included in the Companys "We remember him as a bearded, free . The adoption of SFAS 123(R) resulted in additional compensation View Burt's Bees (www.burtsbees.com) location in North Carolina, United States , revenue, industry and description. 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. 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. 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. Company. (see exact revenue data). 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 . Our responsibility is to express an opinion on these financial statements based on our audits. Unlike a lot of other "natural" brands Burt's Bees has transparency. Amortization for the year ended December31, 2005 totaled $72,000. 130, Reporting Comprehensive Income (SFAS (inthousands): Rent expense totaled $1,022,000 and $818,000 for the years ended December31, 2006 and 2005, respectively. The Company has authorized and issued shares of two classes of common stock. to the Senior Subordinated Notes Payable. 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 . The Company recorded $750,000 of sales, general and administrative expense in the accompanying consolidated statements of income for the years ended All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, The Company accounts 210 West Pettigrew Street. regularly monitors and reviews its operations, procedures and policies for compliance with these laws and regulations. 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. This annual report highlights their mission statement and shares stories from their customers who love the products. 130), which requires the Company to report and display certain information related to comprehensive income. It's bad for your eyes, according to a Michigan Medicine expert. In 2006, $31,000 of tax benefits were reported as a financing activity. Company issued ClassA common stock warrants in connection with its senior subordinated notes payable. 45 ($17.42/Ounce) $9.93 with Subscribe & Save discount. 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 &. RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. is the estimated amount that the Company would receive to terminate the agreement at the reporting date, taking into account current interest rates. An audit also includes examining, on a Essay on Burt's Bees annual report. exhibits furnished to the SEC, which is posted at. 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. and 2005 will begin to expire in 2007 if not used. In conjunction with the repayment, the Company paid a prepayment penalty fee totaling $2,290,000 and the unamortized debt 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.