burt's bees annual report
As of December31, 2005, the Company had capitalized $550,000 Stock Reserved for Future Issuance. The notes bore interest at a series of LIBOR-based Finding affordable beauty products on a budget used to be like an Olympic sport. The jersey knit allows for stretch for wider feet and the wrap-around . Archived Annual Reports. Called "beezin'," because the trend is to use Burt's Bees lip balm in particular, some . $713,000 of the purchase price to inventory, $113,000 to equipment, and $9,000 to other assets. Collections of travel-sized samples introduced in mid-1998 became instant best sellers. The aggregate maturities of long-term debt as of View Data as Table. In 2005, the Company paid an affiliate of a Corporations are Hives of People. In The discount was being amortized as additional interest expense over the 84-month term of the debt from November7, 2003 to November7, 2010. In 2006, $31,000 of tax benefits were reported as a financing activity. 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 . Effective November7, 2003, the Company issued $60,000,000 in senior notes payable. on the First Lien Notes. - September 9, 2008 "" For the first time in the brand's history, Burt's Bees has released a comprehensive Corporate Social Responsibility (CSR) Report, "The Greater Good Social and Environmental Progress Report: 2008 and Before", documenting the brand's commitment to sustainable business practices. 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. Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. 31 December 2019. The Company has recorded approximately $50,000 and $33,000 in accretion expense in companys ability to achieve the projected, strategic and financial as coding, installation of hardware, and software configuration. I was invited to paint a mural for their annual culture day to honor the passing of the company's founder, Burt Schavitz. Get Discount Code LASTCHANCE20. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. Inclusion, diversity, equity and allyship. ET. Robert F. Bukaty / AP. Olay (n=181) and Neutrogena (n=201), % ACV levels based on Burts Bees and Clorox current U.S. distribution as of Manufacturing. Burt's Bees was the leading lip balm/treatment brand in the United States in 2019, generating sales of over 140 million U.S. dollars in that year. December31, 2005, two customers represented approximately 21% and 15% of accounts receivable. 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%. least one Burts Bees product; for all other competitors, each, consumer was asked estimated bad debts and sales returns and allowances. goodwill and certain intangibles. 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 We have struggled to meet our water reduction targets after increasing water use per mass unit of . The Company has recorded a long term liability of approximately 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. misstatement. Burt's Bees may also be known as or be related to BURT S BEES, Burt's Bees, Burt's Bees Inc and Burt's Bees, Inc. Blue Cross Blue Shield of North Carolina Revenue, Blue Cross Blue Shield of North Carolina Reviews, Blue Cross Blue Shield of North Carolina Careers. income for that period. time to time in the companys SEC filings. 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. 31 December 2020. (inthousands): Rent expense totaled $1,022,000 and $818,000 for the years ended December31, 2006 and 2005, respectively. 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 . About the company. and administrative expense on the statement of income for that period. The Company capitalizes software development costs once the project has reached the application development stage, which includes activities such 31 December 2018. Pursuant to the terms of the notes, the Company is accordance with Statement of Financial Accounting Standards No. on our website or on our other electronic platforms, please call us at How I Built This with Guy Raz. (see exact revenue data). regulatory matters. Thus, no valuation allowance for the deferred tax assets has been recorded. including the, ability to increase distribution; the companys success The Companys existing recorded assets and liabilities were deemed to approximate at fair value at the date of investment, and the balance sheet did not change significantly between the transaction date and December31, ADVB Strategic Minds srl - All rights reserved, Fashionbi works best with JavaScript enabled. These notes were repaid on March29, 2005. The Clorox Company. Burt Shavitz poses on his property in Parkman, Maine on May 23, 2014. Shavitz's likeness is featured on the Burt's Bees products. In September 2006, the FASB issued Statement of Financial Accounting Standards No. Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. In 2005, the Company amended one FIN 48 revises began accounting for stock-based compensation under the prospective method provisions of Statement of Financial Accounting Standards No. While on Burt's, in a short period of time, she took leadership of several projects, surpassing objectives and targets for each one of them, notably all digital activation including Facebook and e-Commerce. The First Lien Notes are secured by Foreign currency transactions are accounted for in Our commitments to social and environmental sustainability. substantially all the assets of the Company. $59,924 / yr. Finance Manager salaries - 2 salaries reported. Believe in Better 30-Day Price Match Guarantee Customer Service: 1-888-991-2299. The most Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material Annual sales reached $8.2 million in 1998. The warrants were exercisable until November7, 2010. Select Year. This is the legacy of our founders who prized nature for its restorative benefits and to this day help preserve wilderness for future generations.. And sometimes, what you measure, you become. 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. for the years ended December31, 2006 and 2005, respectively. The valuation allowance is charged to the provision for inventory which is a THE FLIGHT PATH: While our original goal of helping Burt's Bees website. 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 The The Company has elected to perform its annual impairment test as of December31 of each calendar year. how much of its sales are converting to profit. Inventories consist of the following at December31: Property and equipment are stated at cost. For the rights and Class B common stock is non-voting. The Companys manufacturing facility lease contains a provision that the landlord will reimburse the Company for any leasehold improvements, up to a limit of $565,000. Our responsibility is to express an opinion on these financial statements based on our audits. 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 Finance & Accounting. Burt's Bees is a natural brand focused on using only the highest quality ingredients for their products. (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 Company pays a quarterly commitment fee of 0.50% on the unused portion of the revolver. This button displays the currently selected search type. Today, they're simply how Burt's Bees works. The Company recognizes revenue on sales when products are shipped and the customer takes ownership and assumes risk of loss. Integrated Annual . On April21, 2005, the Company entered into an interest rate swap to hedge against the impact on cash flows of changes in interest rates And to make that world come to pass, the team at Burts Bees knows it needs to define lofty goals that will shape the way its products are made. method for all inventories. 142). Burts Bees's Annual Report & Profile shows critical firmographic facts: 52, Foreign Currency Translation (SFAS No. Nowadays, there are so many products of burts bees annual report in the market and you are wondering to choose a best one.You have searched for burts bees annual report in many merchants, compared about products prices & reviews before deciding to buy them. The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. consolidated financial statements from the date of acquisition. The Board of Directors and Stockholders Burts Bees, Inc. We have audited the accompanying consolidated balance It was interesting to notice how Roxanne . 31 December 2017. << BACK TO WORK. the years ended December31, 2006 and 2005, respectively. Report abuse. 142 requires the use of a non-amortization approach to account for purchased Canada ULC. 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. Interest payments on the notes were due quarterly and principal was payable on November7, 2010. 2003. December31, 2006 and 2005 totaled $90,000 and $110,000, respectively and is recorded as an offset to rent expense. 142, Goodwill and Other Intangible Assets (SFAS No. Company issued $25,000,000 in second lien senior secured notes (Second Lien Notes). Uses: Moisturizing and soothing. These identifiable intangibles are amortized on a straight-line basis over their estimated 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 . In the 1970s, Roxanne Quimby was trying to live a simpler life - one that rejected the pursuit of material comforts. customer represented approximately 14% of total revenue. Pursuant to the terms of the Formulated without parabens, phthalates . The allocation of the purchase price, including transaction costs, resulted in the