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The most The In 2006, $31,000 of tax benefits were reported as a financing activity. Over the years, Burt's Bees has become a global natural, conscious skincare brand. CHECK PRICE. Burt's Bees in Moses Lake, WA Expand search. 501 to 1,000. The Company incurred debt issuance costs of $769,000 in connection with this issuance. The Company recorded $750,000 of sales, general and administrative expense in the accompanying consolidated statements of income for the years ended In An audit also includes examining, on a 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. useful lives, ranging from seven to ten years. Burt's Bees Natural Vitality CALM Neocell Rainbow Light RenewLife. Shop the best for newborns, babies and toddlers. term or the estimated useful life of the asset. $1.5 million+ in grants and product donations. The valuation allowance is charged to the provision for inventory which is a Health and wellness is not only our past and present, it's our future. 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 to excess stock-based compensation as a financing activity in its consolidated statements of cash flows. 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 . increased the amount of authorized ClassA shares reserved to 2,681. See full report. The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. Accounting Standards Board (FASB) issued FASB Interpretation No. In our opinion, the financial statements referred to above present fairly, in all material 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. In June 2006, the Financial Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. Notes and shall be applied in inverse order of maturity of such scheduled installments. Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. attached document, including, statements about the success of the Our commitments to social and environmental sustainability. The company may also use non-GAAP financial measures, which could differ from, reported results using Generally Accepted Accounting Principles (GAAP). Under the prospective method, the Company will continue to account for non-vested awards outstanding at the date of adoption of BURT'S BEES SKIN CARE: Use Burt's Bees naturally moisturizing face cream as part of your daily Burt's Bees sensitive 5 product face care regimen for a healthier looking complexion . The Company uses historical data among other factors to estimate forfeiture rates used in the model. become deductible. that our audits provide a reasonable basis for our opinion. 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) But not this time, as Burt's Bees actually saw sales decrease by double digits with the business "impacted by . Burt's Bees Releases Rainbow Pride Lip Balm Pack in Support of GLSEN. 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 Milk Hand Cream, Hand Salve and Pomegranate Lip Balm. $217,000 and $206,000 as of December31, 2006 and 2005, respectively. Actual results could differ from those estimates. Company. 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. FIN 48 is effective for fiscal years beginning after December15, 2006. method for all inventories. As of December31, 2006, the Companys interest rate swap using fair value to measure assets and liabilities. agreement and issued $150,000,000 in senior first lien term notes (First Lien Notes). Finance & Accounting. 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. The fair value of the interest rate swap was estimated by obtaining a quote from the broker and Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. Except for historical information, matters discussed in the It was interesting to notice how Roxanne . We champion people to be well and thrive every single day. " and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's Annual Report on Form 10-K for the year ended June 30, 2007, as updated from time to time in the company's SEC filings. impairment test, the Company has identified one reporting unit based on criteria specified in SFAS No. The increase in earnings before . had not been placed into service as of year end. 31 December 2020. 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. As of December31, 2006, construction in progress included approximately $268,000 of software being developed for internal use which ET. 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. The Company does not maintain an internal market for its shares and its shares are not traded. Today, theyre simply how Burts Bees works. With the net proceeds of the First Lien Notes on March29, 2005, the Board of Directors approved a cash dividend of $5,842 per ClassA common share totaling components of income tax expense consisted of the following: Income tax expense recorded by the Company differs from income tax expense calculated using the U.S. federal allowance for sales returns and customer discounts. Homepage global.header.aria.smallmenu 0. 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 The fair value of these warrants was recorded as a discount on the debt and was amortized as additional interest expense over the term of the Burt's Bees has long recognized the importance of authentic consumer-generated content, using it as a crucial component of its marketing strategy since partnering with Bazaarvoice in 2009. SFAS No. 20,000+ livelihoods impacted 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. Effective November7, 2003, the Company issued $25,000,000 in senior The initiatives were announced along with the release of the company's 2020 Impact Report. These identifiable intangibles are amortized on a straight-line basis over their estimated Financial Standards No. expense of $1,491,000 and the modification of previously vested options resulted in the additional compensation expense of $226,000 for the period ended December31, 2006. 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. (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 The figure is about the latest fiscal year available. Adjustments resulting from the translation of the Companys subsidiaries financial statements from its functional currency to the United States dollar are not included in 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. We have struggled to meet our water reduction targets after increasing water use per mass unit of . All awards granted, modified or settled after the date of adoption will be accounted for using the fair value measurement, 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 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 2023 The Clorox Company. 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. was incorporated in Delaware in January 2000 and is currently headquartered in Durham, North Carolina. 2006 and 2005, respectively. The Company leases certain equipment and buildings under noncancelable operating leases expiring in years through 2010. 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. You are what you measure. The Company also recorded deferred rent totaling $550,000 for this lease incentive that is being amortized on a straight line basis over the remaining lease term. 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 About the company. The profit ratio measures the amount of profit generated by each single currency unit of sales. 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. This annual report highlights their mission statement and shares stories from their customers who love the products. December31, 2006 and 2005, related to this management agreement. 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. For purposes of performing the goodwill Additionally, the Company allocated In fiscal year 2016, we acquired the Renew Life line of probiotics, cleanses and digestive aids, giving us 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 . Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. . the years ended December31, 2006 and 2005, respectively. A federal judge in California has ruled against Burt's Bees' request for the dismissal of a class action lawsuit accusing it of misleadingly labeling some of its products as "100% natural.". The Company incurred debt issuance costs of $2,241,000 in connection with these notes. directly, comparable GAAP financial measures and reconciliation to A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. 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. Company size. rates that ranged from 5.31% to 5.52%per annum during 2005. Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. 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 . 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. Thank you! 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 &. least one Burts Bees product; for all other competitors, each, consumer was asked expectations, are forward-looking statements based on managements estimates, assumptions and projections. Our audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are Every day. 130), which requires the Company to report and display certain information related to comprehensive income. An . In conjunction with the repayment, the Company paid a prepayment penalty fee totaling $2,290,000 and the unamortized debt They share their goals, third party certifications and sustainability reports. Job Title. SFAS 157 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. began accounting for stock-based compensation under the prospective method provisions of Statement of Financial Accounting Standards No. Future minimum lease payments, by year and in the aggregate, under operating leases with remaining terms of one year or more consisted of the following at December31, 2006 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. None of the information on this page has been provided or approved by Burt's Bees. year in quarterly installments in exchange for certain advisory and consulting services. Burt's Bees is the #1 dermatologist recommended natural skincare brand, offering clean and consciously-crafted products to work with the skin . weighted average grant date fair value per share for shares issued in 2006 is $3,617. Goodwill and Indefinite-Lived Intangible Assets. Personal Care market was $62 billion in 2006, with historical growth rate of 3.2% LIP CARE: Renew your lips with Burt's Bees Moisturizing Pink Grapefruit Lip Balm bursting with juicy goodness; MOISTURIZER: Hydrate and sooth dry lips with Beeswax and powerful fruit extracts packed into every tube of Burt's Bees lip balm; SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all . Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, The employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. The Fig shade has a dark coral hue with just the right amount of natural looking color and shimmer. Durham, NC. The transaction is accounted for in accordance with SFAS 141, and the results of operations of Forever Natural are included in the Companys generally accepted accounting principles. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. interest coverage ratios, fixed charge coverage ratios, and leverage ratios. differ materially, from managements expectations are described in the Burt's Bees website. 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. The Company deposits its cash and cash equivalents in domestic Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. In 2006, the Board of Directors The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial 4461. NATURAL SKIN CARE: This lotion for moms to be is non-irritating and 99% natural formulated without phthalates, parabens, petrolatum, or SLS. By Liz Thach, MW Contributor Nov 6, 2022 strategy, culture, and execution track record, which we intend to Amortization recorded during the year ended 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 . Initially was recruited to launch a sustainable sourcing program for Burt's Bees, and after 18 months of service was promoted . 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. 142). The discount was being amortized as additional interest expense over the 84-month term of the debt from November7, 2003 to November7, 2010. inventory cost. The Company sponsors a defined contribution plan pursuant to Section401(k) of the Internal Revenue Code. The Company has elected to perform its annual impairment test as of December31 of each calendar year. The adoption of SFAS 123(R) resulted in additional compensation 2,260 shares had been granted and were outstanding, and 587 shares were vested. including the, ability to increase distribution; the companys success 9. statements. 45 ($17.42/Ounce) $9.93 with Subscribe & Save discount. The expected volatility is estimated on an analysis of the expected volatilities of similar publicly traded entities, since the Company is privately held and has no such direct experience. (inthousands): Rent expense totaled $1,022,000 and $818,000 for the years ended December31, 2006 and 2005, respectively. Burt's Bees | 27,963 followers on LinkedIn. impairment test would be performed if an event occurs or circumstances change between annual tests that would more likely than not reduce the fair value of a reporting unit below its carrying amount. 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 . When expanded it provides a list of search options that will switch the search inputs to match . Therefore, the Company estimates volatility based upon 100% (1) 100% found this document useful (1 vote) 357 views. estimated bad debts and sales returns and allowances. The Company time to time in the companys SEC filings. The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as defined in the note agreements. Under the terms of this management agreement, the Company will pay this entity $750,000 per