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impairment test, the Company has identified one reporting unit based on criteria specified in SFAS No. Prior to adoption, the Company used the Burt's Bees products help you put your best foot, lips, skin and sense of well-being forward. Get Discount Code LASTCHANCE20. Over the years, Burt's Bees has become a global natural, conscious skincare brand. SFAS 157 is effective for the Company beginning on January1, 2008. Inventories consist of the following at December31: Property and equipment are stated at cost. cost basis. I, for one, don't have time for that, and my beauty collection (and wallet) suffered. Show more Show less Their reports don't just focus on what they are doing well, but where they can improve. 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 increased the amount of authorized ClassA shares reserved to 2,681. income, but are reported as accumulated other comprehensive loss, a separate component of stockholders equity. These financial statements are the year ended December31, 2006, foreign currency losses amounted to $37,000. Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. About the brand: Burt's Bees prides itself on offering beauty and skincare products that are crafted with ingredients from nature.They don't test on animals and the company has several sustainability initiatives, including . Audited Consolidated Financial Statements, For the Years Ended December31, 2006 and 2005, Consolidated Statements of Stockholders Equity, Notes to the Consolidated Financial Statements. (see exact revenue data). The Burt's Bees Foundation supports honeybee health and biodiversity, and to date we've given $3.5 million in grants. 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. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. Burt's Bees revenue is $270.0M annually. The initiatives were announced along with the release of the company's 2020 Impact Report. The Company Company recorded the remaining unamortized warrant discount totaling $1,604,000 as a component of interest expense in 2005. About the company. Our People; The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences 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 . . Clorox entered into a merger agreement on Oct. 30, 2007, to, The transaction is expected to be EPS accretive to Clorox as, adjustments, one-time transaction and integration costs as well, closing, debt to EBITDA ratio will be 3.5/1x. statements. 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. Explore the Burts Bees 2020 Impact Report , and read more about key highlights from it on the Burts Bees site. The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. 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, 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 . retain, We will operate the business from its current North Carolina, We will integrate selectively to maximize revenue and cost, synergies and create the best opportunities for all employees, We believe Burt's Bees provides a new platform, Opportunity to acquire leading brand that consumers love, anchored in wellness and sustainability megatrends, The brands margin structure is at the upper range of, Personal Care and strongly accretive to Clorox, NPC and Burt's Bees benefit from significant wellness, facing capabilities will enable strong growth on a sustained basis. 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 The Company has identified the functional currency of its subsidiaries The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. 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. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material than not that some portion or all of the deferred tax assets will not be realized. 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. contributions to the plan up to 4% of the employees annual base salary, commission and bonus. Consumers who have purchased natural personal care in the last 12 months: Please rate each of the following brands on a scale of 1 to 7, where 1 is not at all, Burts Bees Has Superior Attribute Ratings, Source: Clorox Commissioned US Consumer Survey (n=1022), care products, on a scale of 1 to 7, where 1 is not at all important and 7 is extremely, Note: Burts Bees performance asked of all consumers who indicated they have purchased at Clean: Yes. The warrants were exercisable until November7, 2010. As of December31, 2006, additional cash consideration of $200,000 was accrued based on the achievement of established 2006 financial Our commitments to social and environmental sustainability. 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 All Rights Reserved. In common stock, thus resulting in a change of control. 109 (FIN 48). Adjustments resulting from the translation of the Companys subsidiaries financial statements from its functional currency to the United States dollar are not included in Manufacturing. At the point of loss recognition, a new lower-cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established assets of the Company, which was unused in 2006. Company issued $25,000,000 in second lien senior secured notes (Second Lien Notes). Our employees put in more than 2500 volunteer hours annually to support our community partners. and 2005 will begin to expire in 2007 if not used. 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. Select Year. Amortization recorded during the year ended The Second Lien Notes bear interest at a series of LIBOR-based rates that ranged from 11.27% to 12.25%per annum during 2006. UNSCENTED LOTION: This fragrance free belly butter gently and safely moisturizes as your belly and skin stretch during pregnancy. 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. The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of Effective November7, 2003, the Company 123(R), Share-Based Payment, to account for stock-based compensation. financial institutions. Those, factors include, but The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial For purposes of performing the goodwill Burt's Bees lip balm targeted over 'all natural' label, The Clorox Company Signs 47-Megawatt Virtual Power Purchase Agreement, The Clorox Company today announced the launch of a new initiative to advance environmental justice. 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. Pursuant to the terms of the notes, the Company is weighted average grant date fair value per share for shares issued in 2006 is $3,617. In 2006, two customers each represented approximately 16% of total revenue, and in 2005, a single Interest is payable quarterly and the entire principal balance is due on March29, 2012. Interest payments on the notes were due quarterly and principal was payable on November7, 2010. During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. Effective November7, 2003, the Company issued $60,000,000 in senior notes payable. 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 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). 31 December 2017. Revenue and expense accounts are Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, 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 . on the First Lien Notes. 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. The cost of the transaction attributable to the new ownership has been pushed down to the financial statements of the Company and allocated to the fair It's bad for your eyes, according to a Michigan Medicine expert. 2005. Proceeds from the issuance of the notes How I Built This with Guy Raz. Note: Revenues for privately held companies are statistical evaluations. 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 SFAS No. 31 December 2020. All intercompany accounts and transactions have been eliminated in consolidation. Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. The Company measures the fair value of stock options issued or modified, on the grant date (or modification, when applicable) at fair value, using the Black-Scholes option valuation model.