burt's bees annual report

View Data as Table. Shop the best for newborns, babies and toddlers. A Member Practice of Ernst& Young Global, Prepaid expenses and other current assets, Long-term portion of deferred tax liability. Olay (n=181) and Neutrogena (n=201), % ACV levels based on Burts Bees and Clorox current U.S. distribution as of Revenue. On August18, 2006, the Company acquired substantially all of the assets of Forever Natural, Inc., an unaffiliated international distributor for products of the $217,000 and $206,000 as of December31, 2006 and 2005, respectively. Personal Care market was $62 billion in 2006, with historical growth rate of 3.2% entered into a Stockholders Purchase Agreement (the Stockholders Agreement) by and among the stockholders of the predecessor company (collectively, the Stockholders), BBI Investors I LP and its assignees (collectively, the Buyer). The figure is about the latest fiscal year available. Thats a lesson the folks at Burts Bees took to heart from the brands most recent goal period, as its 2020 Impact Report makes clear. combination accounted for using the purchase method. The figure is about the latest fiscal year available. None of the information on this page has been provided or approved by Burt's Bees. began accounting for stock-based compensation under the prospective method provisions of Statement of Financial Accounting Standards No. Inventories are stated at the lower of cost or market. The profit ratio measures the amount of profit generated by each single currency unit of sales. misstatement. (2003-2006), NPC growing at double-digit rates across Europe and Asia, U.S. Natural Personal Care Market Is Highly, Fragmented & Lacks Entrenched Scale Players, anticipated to drive growth for years to come, Burts In 2005, the Company amended one Here's a sampling of once-bold goals that are now standard . Financial Standards No. estimated bad debts and sales returns and allowances. The notes bore interest at a series of LIBOR-based 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 . Accounting Standards Board (FASB) issued FASB Interpretation No. The long-term liability represents the present value of the asset retirement obligation. The Companys operations are subject to and affected by federal, state and local laws and regulations relating to the environment, health and safety and other 142, goodwill and certain intangibles are not amortized into results of operations, but instead are reviewed for impairment at least annually and written down and charged to Common Stock and Common Sales are recorded net of an estimated 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. 52, Foreign Currency Translation (SFAS No. interest coverage ratios, fixed charge coverage ratios, and leverage ratios. Show more Show less The Company recognizes revenue on sales when products are shipped and the customer takes ownership and assumes risk of loss. It's a measure of a company's overall profitability, i.e. Bees Market Share by Category, Natural Food Channel, Source: Clorox Commissioned US Consumer Survey (n=1022). The adoption of SFAS 123(R) resulted in additional compensation Pursuant to the terms of the Headquarters. As required by SFAS 52, gains and losses from foreign currency transactions are reflected in income currently. Paula Alexander, Burt's Bees Senior Director of Sustainability, said: "Our focus has long been centered on [] responsibility of the Companys management. 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. Available in: Lip Care and Lip Care with Colour, Mama Bee, Baby Bee, Hand and Body Care. 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. had not been placed into service as of year end. Management reviews the carrying value of its identifiable intangible assets for recoverability if indicators of impairment arise. We These financial statements are the In The Company The Board of Directors and Stockholders Burts Bees, Inc. We have audited the accompanying consolidated balance defined in the note agreements. for the years ended December31, 2006 and 2005, respectively. benefits from the acquisition, including, the companys actual cost performance; price changes; the effect on cash flow of SFAS No. Our People; Position 98-1, Accounting for Costs of Computer Software Developed or Obtained for Internal Use. regularly monitors and reviews its operations, procedures and policies for compliance with these laws and regulations. You had to clip coupons, scour the web for deals, and wait around for annual sales to pick up new things or old favorites. Important factors that could cause results to The following table summarizes stock option activity: At December31, 2006, there were 1,106 non-vested shares granted after the adoption of SFAS 123(R). including the, ability to increase distribution; the companys success But our team has been vetting one affordable makeup and skincare brand lately, and y'all, I don't . Salary. Best for: Sensitive skin. 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. 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. The remainder of the construction in progress balance is attributable to equipment. 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. 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. Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of 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. It was interesting to notice how Roxanne . 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. Interest payments on the notes were due quarterly and principal was payable on November7, 2010. The Company contributed $321,000 and $137,000 for The Company may be required to make additional future cash A tropical-smelling lip balm for daily use: Supergoop Play Lip Balm SPF 30 with Acai. The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. NPR's Elizabeth Blair reports that Shavitz's death resulted from . Long-term debt consists of the following at December31: Effective March29, 2005, the Company amended and restated its bank credit The Fig shade has a dark coral hue with just the right amount of natural looking color and shimmer. 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. income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. He is a quiet curmudgeon who dislikes middle-class comforts, enjoys solitude and forgoes nearly all technology. Sales are climbing at an annual rate of 9%. 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 customer represented approximately 14% of total revenue. payments and the success of new products. term or the estimated useful life of the asset. 130), which requires the Company to report and display certain information related to comprehensive income. 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). N.C., Feb. 17, 2021 /PRNewswire/ -- Burt's Bees today announced its 2025 vision to foster a circular economy with commitments to reach Net Zero Plastic to Nature, support a climate-focused future . Star rating: 4.8/5 Potential allergens: Glycerin Active ingredients: Cotton extract. Certain of the leases contain The employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial issued by the Burt's Bees Foundation to protect biodiversity and reconnect people to nature. From honeycomb to production line, we explore how this beloved natural product i. Essay on Burt's Bees annual report. cost basis. non-GAAP financial measures, are set forth in the Form 10-K and its The translation from the applicable local currency to United States dollars is performed using the exchange rate in effect at the balance sheet date. In fiscal year 2016, we acquired the Renew Life line of probiotics, cleanses and digestive aids, giving us the Adjustments to reconcile net income to net cash provided by operating activities: Changes in operating assets and liabilities: Net cash provided by operating activities, Payment on senior subordinated notes payable, Net increase (decrease) in cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Supplemental disclosure of cash flow information, Notes to Consolidated Financial Statements, 1. Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) 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. As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which December31, 2006 and 2005, related to this management agreement. 31 December 2020. On April21, 2005, the Company entered into an interest rate swap to hedge against the impact on cash flows of changes in interest rates Award winning pajamas, crib sheets, shampoo and more. income for that period. Verified Purchase . 9. The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. Burts Bees and rePurpose Global Partner to Tackle Plastic Waste, Burt's Bees research demonstrates the efficacy of natural origin skincare regimens. 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, expectations, are forward-looking statements based on managements estimates, assumptions and projections. You are what you measure. 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 . Burt's Bees's revenue is $270.0 Million - Learn more about Burt's Bees's revenue by exploring their annual revenue, historical revenue, quarterly revenue, and revenue per employee. << BACK TO WORK. 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 RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. The Company deposits its cash and cash equivalents in domestic 52). Company. Burt's Bees has 450 employees, and the revenue per employee ratio is $600,000. 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. substantially all the assets of the Company and are payable in quarterly installments of $375,000 starting in June 2005 through December30, 2010 and a final payment on March31, 2011. to the Senior Subordinated Notes Payable. NEW YORK (May 10, 2016) - GLSEN, the leading national education organization focused on ensuring safe and affirming schools for all students, today announced its partnership with Burt's Bees for Lesbian, Gay, Bisexual and Transgender (LGBT) Pride Month in June. Finance salaries - 3 salaries reported. FIN 48 is effective for fiscal years beginning after December15, 2006. FRIDAY, March 3, 2023 (HealthDay News) -- Don't put lip balm on your eyelid, even if you saw it on TikTok. The Company is currently assessing the impact of This annual report highlights their mission statement and shares stories from their customers who love the products.