The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. In The fair value of the interest rate swap was estimated by obtaining a quote from the broker and Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets, which range from three to seven years. 100% (1) 100% found this document useful (1 vote) 357 views. Nov 2012 - Jan 20163 years 3 months. 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%. 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. When expanded it provides a list of search options that will switch the search inputs to match . 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 allocation of the purchase price, including transaction costs, resulted in the Effective January1, 2006, the Company FIN 48 revises began accounting for stock-based compensation under the prospective method provisions of Statement of Financial Accounting Standards No. Price: $11. No. Notes to Consolidated Financial Statements (continued), 1. 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. 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 Best for: Sensitive skin. The Company uses historical data among other factors to estimate forfeiture rates used in the model. Shipping and handling costs related to goods received are capitalized as a component of attached document, including, statements about the success of the Actual results could differ from those estimates. As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. and 2005 will begin to expire in 2007 if not used. Select Year. 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. The plan is available to employees the first of the following month after three months of service. payments and the success of new products. Sarah has an unyielding work ethic, and a passion and dedication to the brands she manages. Corporations are Hives of People. escalation clauses and renewal options as outlined in the agreements. Or perhaps you need help to leverage your brand's power to deliver real business impact? The Company may be required to make additional future cash in such costs as leasehold improvements. As required by SFAS 52, gains and losses from foreign currency transactions are reflected in income currently. subordinated notes payable. Interest is payable quarterly and the entire principal balance is due on March29, 2012. year ended December31, 2006 and 2005 totaled $0 and $72,000, respectively. 52). Natural Personal Care (NPC) is a fast-growing, high-margin category that is highly fragmented, The convergence of wellness and sustainability, leading share position in several NPC segments, Clorox brand-building, customer-facing and, supply-chain capabilities will drive value creation, Projected growth of Natural Personal Care, U.S. The jersey knit allows for stretch for wider feet and the wrap-around . 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. $82,865 / yr. 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 . Today, theyre simply how Burts Bees works. including the, ability to increase distribution; the companys success for its goodwill and indefinite-lived intangible assets in accordance with SFAS No. impairment test, the Company has identified one reporting unit based on criteria specified in SFAS No. Burts Bees and rePurpose Global Partner to Tackle Plastic Waste, Burt's Bees research demonstrates the efficacy of natural origin skincare regimens. (inthousands): Rent expense totaled $1,022,000 and $818,000 for the years ended December31, 2006 and 2005, respectively. In our opinion, the financial statements referred to above present fairly, in all material The Company capitalizes software development costs once the project has reached the application development stage, which includes activities such directly, comparable GAAP financial measures and reconciliation to The Company analyzed its intangible assets as of December31, 2006 and 2005, and noted no indicators of impairment. On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the and includes net income and foreign currency translation adjustments. 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. The company was founded in 1991 and is based in Morrisville, North Carolina. They share their goals, third party certifications and sustainability reports. Burt Shavitz, the man whose face is on your minty Burt's Bees lip balm and body wash, died on Sunday in Bangor, Maine. 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 . Today, they're simply how Burt's Bees works. companys ability to achieve the projected, strategic and financial 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. The Company incurred debt issuance costs of $769,000 in connection with this issuance. recognition and attribution provisions of SFAS 123(R). 123(R), Share-Based Payment, to account for stock-based compensation. The accumulated other comprehensive loss balance consists entirely of foreign Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. 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. 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. regulatory matters. cost basis. 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.". -- Burt's Bees began when co-founder Burt Shavitz picked up a . Paula Alexander, Burt's Bees Senior Director of Sustainability, said: "Our focus has long been centered on [] 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. The Company deposits its cash and cash equivalents in domestic If this review by management indicates that the carrying value would not $59,924 / yr. Finance Manager salaries - 2 salaries reported. December31, 2006 are as follows (in thousands): The aggregate maturities for 2008 through 2010 are subject to change based upon future excess cash flow 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 . Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. 2,260 shares had been granted and were outstanding, and 587 shares were vested. Foreign currency transactions are accounted for in Paula Alexander, director of sustainable business and innovation at Burt's, reports . We offset our annual water consumption through watershed restoration projects. 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. the carrying value accordingly. 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. Company profile page for Burt's Bees Inc including stock price, company news, press releases, executives, board members, and contact information Kathleen M. Sarnes. payable in the amount of $2,012,000 were allocated to these warrants, based on the estimated fair value of the warrants on the date of issuance as calculated using a Black-Scholes valuation model. Award winning pajamas, crib sheets, shampoo and more. Except for historical information, matters discussed in the By Liz Thach, MW Contributor Nov 6, 2022 In fiscal year 2016, we acquired the Renew Life line of probiotics, cleanses and digestive aids, giving us the 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 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. 4461. 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. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. Burt's Bees is a natural brand focused on using only the highest quality ingredients for their products. Inclusion, diversity, equity and allyship. accordance with Statement of Financial Accounting Standards No. Revenue and expense accounts are 2003. 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. NPR's Elizabeth Blair reports that Shavitz's death resulted from . The Company has a $15,000,000 revolving line of credit, collateralized by substantially all Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. 9. Essay on Burt's Bees annual report. RECOVERY BODY BUTTER: Help your skin recover after pregnancy with this 99% natural belly butter that provides relief and comfort to stretched skin. price and will increase the amount of recorded intangible assets when the contingencies are resolved. Durham, NC 27701. burtsbees.com. The following methods and 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. Income taxes are accounted for pursuant to Statement of an alternative method. companys strategy and acquisitions as well as future, volume, sales and Focused on delivering long-term investor returns through a committment to ESG. These factors include, but are not limited to, the completion of the . 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. Uses: Moisturizing and soothing. You had to clip coupons, scour the web for deals, and wait around for annual sales to pick up new things or old favorites. The transaction is accounted for in accordance with SFAS 141, and the results of operations of Forever Natural are included in the Companys 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 when estimating expected forfeitures, including the employee class and historical experience. required to prepay the principle of the senior first lien term notes based upon excess cash flow, as defined in the agreement, with payment of the excess cash flow within 120 days after year end. 1999. . Report abuse. The profit ratio measures the amount of profit generated by each single currency unit of sales. The carrying amounts approximate fair value because the variable interest rates are based on LIBOR, as Olay (n=181) and Neutrogena (n=201), % ACV levels based on Burts Bees and Clorox current U.S. distribution as of debt. 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. The company may also use non-GAAP financial measures, which could differ from, reported results using Generally Accepted Accounting Principles (GAAP).
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