companys strategy and acquisitions as well as future, volume, sales and The Company was in compliance with these covenants at December31, 2006. method for all inventories. Cost is determined using the first-in, first-out If you have difficulty accessing any content, feature or functionality 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 . accordance with Statement of Financial Accounting Standards No. 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 Or perhaps you need help to leverage your brand's power to deliver real business impact? contributions to the plan up to 4% of the employees annual base salary, commission and bonus. He is a quiet curmudgeon who dislikes middle-class comforts, enjoys solitude and forgoes nearly all technology. Identifiable intangible assets consist of the following at December31, 2006 and 2005 (in thousands): Estimated future aggregate amortization of the trade secrets, customer list intangibles, and covenant not to Robert F. Bukaty / AP. 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. currency translation adjustments. Sarah has advanced quickly in her career, and . Burt's Bees is an American personal care products subsidiary of Clorox that describes itself as an "Earth friendly, Natural Personal Care Company"making . attached document, including, statements about the success of the The Company applies the provisions of Statement of Financial Accounting Standards No. Burt's Bees makes $739,726 in a day. issued by the Burt's Bees Foundation to protect biodiversity and reconnect people to nature. Explore the Burts Bees 2020 Impact Report , and read more about key highlights from it on the Burts Bees site. Interest payments on the notes were due quarterly and principal was payable on November7, 2010. 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. He was 80. The accumulated other comprehensive loss balance consists entirely of foreign 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 new report from the U.S. Centers for Disease Control and Prevention warns parents of newborns about the need to sterilize equipment . benefits from the acquisition, including, the companys actual cost performance; price changes; the effect on cash flow of Company. No. In The employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. 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. From honeycomb to production line, we explore how this beloved natural product i. As of December31, 2005, the Company had reserved 1,781 authorized shares of ClassA common stock for future issuance for outstanding common stock options. $170 million (est.) An interim goodwill Report abuse. The Company has authorized and issued shares of two classes of common stock. 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 . Position 98-1, Accounting for Costs of Computer Software Developed or Obtained for Internal Use. Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. The figure is about the latest fiscal year available. 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. Best for: Sensitive skin. The following methods and Since then, the Company has grown rapidly and built a valuable, distinctive brand image among a large loyal customer base. 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. 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 Uploaded by Joshua Gillaspie. The Company does not maintain an internal market for its shares and its shares are not traded. 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. on our website or on our other electronic platforms, please call us at Burt's Bees peak revenue was $270.0M in 2021. None of the information on this page has been provided or approved by Burt's Bees. Weve been earning peoples trust since 1913. . All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. Interest is payable quarterly and the entire principal balance is due on March29, 2012. defined in the note agreements. A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. 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. Address. 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 These options have an exercise price of $8,360 per share, generally a graded vesting period of five years or 20% vested per year, and generally an expiration date ten The 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. RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. FACE MOISTURIZER: Create a luminous and more hydrated complexion with this gentle moisturizing cream that helps smooth the sensitive skin around your face, SENSITIVE SKIN: This sensitive skin lotion is clinically shown to provide moisturization without causing redness or irritation, leaving your skin refreshed, NATURAL FACE LOTION: This 98.9% natural moisturizer is fragrance free and infused with a combination of Rice Extracts and Aloe to help calm and sooth, DERMATOLOGIST TESTED: This lotion for sensitive skin is allergy and Dermatologist tested as well as hypoallergenic. 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 . statutory rate due primarily to certain eligible tax deductions taken by the Company, adjustments of prior accruals in the current period, and non-deductible items and state income taxes, net of the related federal benefit. 9. as coding, installation of hardware, and software configuration. When the brand set these sustainability goals more than five years ago, they were ambitious. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. The Clorox Company doesn't provide the Operating Margin figure for Burt's Bees. Shavitz's likeness is featured on the Burt's Bees products. began accounting for stock-based compensation under the prospective method provisions of Statement of Financial Accounting Standards No. 45 ($17.42/Ounce) $9.93 with Subscribe & Save discount. Financial Standards No. The late Burt Shavitz, cofounder, namesake, and spokesman for Burt's Bees. assets of the Company, which was unused in 2006. SFAS 157 applies whenever other pronouncements require Finance & Accounting. December31, 2006 are as follows (in thousands): The aggregate maturities for 2008 through 2010 are subject to change based upon future excess cash flow In conjunction with the amendment, the Company agreed to return a portion of the facility back to its original use at the end of the lease term, May31, 2010. 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. 130, Reporting Comprehensive Income (SFAS 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. These factors include, but are not limited to, the completion of the . On Monday, Burt's Bees posted a tribute to its eccentric namesake, Burt Shavitz, who died at 80 over the weekend. adopting FIN 48 on its consolidated financial statements. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material About the company. 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. Company size. The Company markets its products as earth friendly, natural personal care products.. Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. Burt's Buzz pays tribute to Shavitz, the man behind Burt's Bees. This annual report highlights their mission statement and shares stories from their customers who love the products. recognition and attribution provisions of SFAS 123(R). for the years ended December31, 2006 and 2005, respectively. In 2006, $31,000 of tax benefits were reported as a financing activity. Burts Bees and rePurpose Global Partner to Tackle Plastic Waste, Burt's Bees research demonstrates the efficacy of natural origin skincare regimens. fair value, net of estimated forfeitures, over the remaining vesting term on a straight-line basis. It's bad for your eyes, according to a Michigan Medicine expert. See full report. You are what you measure. Our responsibility is to express an opinion on these financial statements based on our audits. Milk Hand Cream, Hand Salve and Pomegranate Lip Balm. When the brand set these sustainability goals more than five years ago, they were ambitious. This week on How Stuff Is Made, we discover how Burts Bees Lip Balm is made. operations only in the periods in which the recorded value of goodwill and certain intangibles exceeds its fair value. years from the date of grant. 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. 130), which requires the Company to report and display certain information related to comprehensive income. The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. The Clorox Company doesn't provide the information on its shareholders. Revenue and expense accounts are information of similar public entities for which option price information is available. Unrealized gains or losses are recorded in earnings as incurred until cost basis. to frontline workers and vulnerable populations at the onset of COVID-19. The Company uses historical data among other factors to estimate forfeiture rates used in the model. All intercompany accounts and transactions have been eliminated in consolidation. 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, 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. At Therefore, the Company estimates volatility based upon The Company monitors customers payment history and establishes reserves for Additionally, there was $3,189,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. << BACK TO WORK. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. 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. to be outstanding. regulatory matters. translated using the average exchange rate experienced during the period. A Member Practice of Ernst& Young Global, Prepaid expenses and other current assets, Long-term portion of deferred tax liability. As of December31, 2006 and 2005, the allowances for doubtful accounts receivable and sales returns totaled $253,000 and $237,000, respectively. Report of Independent Auditors . Income taxes are accounted for pursuant to Statement of as it is with other companies engaged in similar businesses, and there can be no assurance that environmental liabilities will not have a material adverse effect on the Company in the future. Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. Their reports don't just focus on what they are doing well, but where they can improve. than not that some portion or all of the deferred tax assets will not be realized. Nov 2012 - Jan 20163 years 3 months. Burt Shavitz poses on his property in Parkman, Maine on May 23, 2014. Inclusion, diversity, equity and allyship. 31 December 2017. At the point of loss recognition, a new lower-cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established Burt Shavitz, the man whose face is on your minty Burt's Bees lip balm and body wash, died on Sunday in Bangor, Maine. What We Make How We Operate the swap matures on March31, 2008. Effective March29, 2005, the An . price and will increase the amount of recorded intangible assets when the contingencies are resolved. Effective November7, 2003, the Company An audit also includes examining, on a Initially, I had some trepidation about painting bees on the side of Burt's Bees Global Headquarters - the historic Hill Building at the American Tobacco Campus in downtown Durham, NC. The First Lien Notes are secured by Intangible assets resulted from a business 4.8 4.8 out of 5 stars (102,801) $10.45 $ 10. income for that period. Burt's Bees, environment, ESG, sustainability. or permit assets or liabilities to be measured at fair value and, while not requiring new fair value measurements, may change current practices. Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information July 6, 2015. 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%. Archived Annual Reports. 0. Accounts receivable are derived from revenue ADVB Strategic Minds srl - All rights reserved, Fashionbi works best with JavaScript enabled. 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.
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