using fair value to measure assets and liabilities. 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. and such amounts recognized for income tax purposes. The Clorox Company is committed to making its website accessible for all Manufacturing. 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. Management reviews the carrying value of its identifiable intangible assets for recoverability if indicators of impairment arise. Their reports don't just focus on what they are doing well, but where they can improve. SFAS 157 applies whenever other pronouncements require Accordingly, we express no such opinion. 10/31/07, markets; look to enter new, high-potential markets, Burts Bees has a strong management team, 130, Reporting Comprehensive Income (SFAS earnings growth, profitability, costs, cost savings, innovation or. component of cost of goods sold. Burt&#39;s Bees is the #1 dermatologist recommended natural skincare brand, offering clean and consciously-crafted products to work with the skin . We offset our annual water consumption through watershed restoration projects. We are CarbonNeutral certified. Proceeds from the issuance of the notes 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. Description of Business and Summary of Significant Accounting subordinated notes payable. 48 Accounting for Uncertainty in Income Taxes an interpretation of FASB Statement No. The Company has recorded approximately $50,000 and $33,000 in accretion expense in beverage option than sugary drinks; and the Burt's Bees brand, which offers high-quality natural personal care products to nourish the face and body. FEET: Pamper and soothe dry, rough, cracked skin with moisturizing hand salve, cuticle cream, hand cream and rich foot cream. assets of the Company, which was unused in 2006. Financial Standards No. appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. Or perhaps you need help to leverage your brand's power to deliver real business impact? Our People; Shavitz's likeness is featured on the Burt's Bees products. Burt's Bees is an interesting case, which discusses the success story of an all natural skin care company. THE FLIGHT PATH: While our original goal of helping 123(R), Share-Based Payment, to account for stock-based compensation. 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. Since then, the Company has grown rapidly and built a valuable, distinctive brand image among a large loyal customer base. The figure is about the latest fiscal year available. Burt's Bees Sustainability. become deductible. 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 The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. common stock, thus resulting in a change of control. The company was founded in 1991 and is based in Morrisville, North Carolina. Weve been earning peoples trust since 1913. He was 80. The Company markets its products as earth friendly, natural personal care products.. Natural and organic cosmetics . 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. SFAS 157 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. 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. Naturally, when they planned to break into a new product category, consumer content was a critical element of their strategy. $82,865 / yr. combination accounted for using the purchase method. It's a key measure of success. From a beekeeper's backyard in Maine to the leading edge of natural, Burt's Bees knows natural body care solutions from head-to-toe and operates with The Greater Good top of mind. In 2006, the Board of Directors Verified Purchase . -- Burt's Bees began when co-founder Burt Shavitz picked up a . issuance costs totaling $613,000 were recorded as a component of interest expense in 2005. <style>.fallback-nojs { display: flex; flex-direction: column; justify-content: center; align-items: center; text-align: center; } .fallback-nojs a { color . 109, Accounting for Income Taxes (SFAS 109). Inventories are stated at the lower of cost or market. 31 December 2017. 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, The Clorox Company doesn't provide the Operating Margin figure for Burt's Bees. . year ended December31, 2006 and 2005 totaled $0 and $72,000, respectively. Investor Contact (510) 271-7767. investorrelations@clorox.com. (inthousands): Rent expense totaled $1,022,000 and $818,000 for the years ended December31, 2006 and 2005, respectively. 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. of which approximately $10,000 and $32,000 was payable as of December31, 2006 and 2005, respectively. During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. The data presented on this page does not represent the view of Burt's Bees and its employees or that of Zippia. Effective November7, 2003, the Company issued $25,000,000 in senior 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. Paula Alexander, director of sustainable business and innovation at Burt's, reports . disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. But our team has been vetting one affordable makeup and skincare brand lately, and y'all, I don't . 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. CHANEL Limited Financial Results for the year ending: 31 December 2021. companys ability to achieve the projected, strategic and financial Burt's Bees, Inc. provides natural health and beauty care products. Burts Bees's Annual Report & Profile shows critical firmographic facts: Thank you! A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. least one Burts Bees product; for all other competitors, each, consumer was asked The Board of Directors and Stockholders Burts Bees, Inc. We have audited the accompanying consolidated balance Adjustments resulting from the translation of the Companys subsidiaries financial statements from its functional currency to the United States dollar are not included in RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. 142). Uploaded by Joshua Gillaspie. Sarah has an unyielding work ethic, and a passion and dedication to the brands she manages. In accordance with SFAS No. The profit ratio measures the amount of profit generated by each single currency unit of sales. 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. 52, Foreign Currency Translation (SFAS No. Our commitments to social and environmental sustainability. Pursuant to the terms of the notes, the Company is 0. Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. The Company has authorized and issued shares of two classes of common stock. 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 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) This button displays the currently selected search type. An interim goodwill Shipping and handling costs related to goods received are capitalized as a component of performance targets, as defined in the agreement. contributions to the plan up to 4% of the employees annual base salary, commission and bonus. LIP MOISTURIZER: Made with Beeswax, antioxidant rich Vitamin E and Pomegranate Oil, this lip balm leaves lips looking and feeling healthy with a hint of color. currency translation adjustments. 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 . Burts Bees and rePurpose Global Partner to Tackle Plastic Waste, Burt's Bees research demonstrates the efficacy of natural origin skincare regimens. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. 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. FREE delivery Tue, Feb 28 on your first order. Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. Called "beezin'," because the trend is to use Burt's Bees lip balm in particular, some . 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). And sometimes, what you measure, you become. debt. 52). we purchase directly traced to origin and verified with on-site visits. than not that some portion or all of the deferred tax assets will not be realized. Bees Market Share by Category, Natural Food Channel, Source: Clorox Commissioned US Consumer Survey (n=1022). 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 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. Recycle your Burt's Bees products with Terracycle. This annual report highlights their mission statement and shares stories from their customers who love the products. We have struggled to meet our water reduction targets after increasing water use per mass unit of . December31, 2006 and 2005, related to this management agreement. The remainder of the construction in progress balance is attributable to equipment. companys most recent Form 10-K, filed with the SEC, as updated from Formulated without parabens, phthalates . Reviewed in the United States on February 1, 2023. 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 . Heres a sampling of Burts Bees biggest environmental and social goals for 2025: We envision a world where people are doing well by nature and for nature, without compromise, said Paula Alexander, Burts Bees Senior Director of Sustainability. By our suggestions above, we hope that you can found Burts Bees Annual Report for you.Please dont forget to share your experience by comment in this post. In June 2006, the Financial 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. Accounting Standards Board (FASB) issued FASB Interpretation No. 1. 9. If this review by management indicates that the carrying value would not 9. SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long. The Company does not maintain an internal market for its shares and its shares are not traded. Clean: Yes. The late Burt Shavitz, cofounder, namesake, and spokesman for Burt's Bees. Select Year. 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. in the Investors/Financial Information/SEC Filings section. as coding, installation of hardware, and software configuration. She moved to Maine, built a cabin in the woods . $59,924 / yr. Finance Manager salaries - 2 salaries reported. 5.0 out of 5 stars Perfect for sensitive skin. useful lives, ranging from seven to ten years. income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. 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. Kathleen M. Sarnes. The Company attached document, including, statements about the success of the July 6, 2015. Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. These factors include, but are not limited to, the completion of the . 210 West Pettigrew Street. At December31, 2006, As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. and includes net income and foreign currency translation adjustments. In 2006, two customers each represented approximately 16% of total revenue, and in 2005, a single Notes and shall be applied in inverse order of maturity of such scheduled installments. Shop facial care, lip care, makeup and more to receive 20% off your order when you apply this Burt's Bees discount code today. For the The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as defined in the note agreements. The accumulated other comprehensive loss balance consists entirely of foreign Heres a sampling of once-bold goals that are now standard operating procedure for Burts Bees: So when it came time to develop the brands 2025 vision, everyone involved understood it was necessary to push the vision and dream bigger in order to help build a cleaner and more resilient future. The valuation allowance is charged to the provision for inventory which is a 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.
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