10-K Filing

ACME UNITED CORP CIK: 2098 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001564590-21-017128`
Period End Date	20201231
Filing Date	20210331
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	acu-10k_20201231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 30 Cash Flow Statement 59 Stockholders Equity 19 Comprehensive Income 10

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$2.50	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$2.50	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.84M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.84M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.49M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.17M	USD	Point-in-time
Accounts receivable, less allowance	`AccountsReceivableNetCurrent`	$27.17M	USD	Point-in-time
Accounts receivable, less allowance	`AccountsReceivableNetCurrent`	$25.48M	USD	Point-in-time
Inventories	`InventoryNet`	$39.26M	USD	Point-in-time
Inventories	`InventoryNet`	$50.70M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.58M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$83.69M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$73.15M	USD	Point-in-time
Land	`Land`	$1.77M	USD	Point-in-time
Land	`Land`	$1.42M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$12.90M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$10.10M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$19.11M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$24.52M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$30.63M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$39.19M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$16.59M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$18.95M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$14.04M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$20.24M	USD	Point-in-time
Intangible assets, less accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$18.72M	USD	Point-in-time
Intangible assets, less accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$15.79M	USD	Point-in-time
Goodwill	`Goodwill`	$4.70M	USD	Point-in-time
Goodwill	`Goodwill`	$4.80M	USD	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$2.99M	USD	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$2.42M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$88.83K	USD	Point-in-time
Total assets	`Assets`	$110.75M	USD	Point-in-time
Total assets	`Assets`	$129.87M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.69M	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$872.91K	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$1.05M	USD	Point-in-time
Current portion of mortgage payable	`SecuredDebtCurrent`	$266.67K	USD	Point-in-time
Current portion of mortgage payable	`SecuredDebtCurrent`	$266.67K	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$11.46M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$8.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.20M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$38.77M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$33.24M	USD	Point-in-time
Mortgage payable, net of current portion	`MortgagePayableNonCurrent`	$3.18M	USD	Point-in-time
Mortgage payable, net of current portion	`MortgagePayableNonCurrent`	$2.91M	USD	Point-in-time
Operating lease liability - non-current portion	`OperatingLeaseLiabilityNoncurrent`	$1.65M	USD	Point-in-time
Operating lease liability - non-current portion	`OperatingLeaseLiabilityNoncurrent`	$1.96M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$49.28K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$110.22K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$32.30K	USD	Point-in-time
Total liabilities	`Liabilities`	$55.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$67.15M	USD	Point-in-time
Common stock, par value $2.50: authorized 8,000,000 shares; issued - 4,840,571 shares in 2020 and 4,838,071 in 2019, including treasury stock	`CommonStockValue`	$12.10M	USD	Point-in-time
Common stock, par value $2.50: authorized 8,000,000 shares; issued - 4,840,571 shares in 2020 and 4,838,071 in 2019, including treasury stock	`CommonStockValue`	$12.09M	USD	Point-in-time
Treasury stock, at cost, 1,501,658 in 2020 and 1,487,238 shares in 2019	`TreasuryStockValue`	$14.24M	USD	Point-in-time
Treasury stock, at cost, 1,501,658 in 2020 and 1,487,238 shares in 2019	`TreasuryStockValue`	$14.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.93M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.26M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-825.97K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.99M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.06M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$51.57M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$58.03M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$55.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$52.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$62.72M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$110.75M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$129.87M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$142.46M	USD	Annual
Net sales	`Revenues`	$164.00M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$104.41M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$90.46M	USD	Annual
Gross profit	`GrossProfit`	$59.59M	USD	Annual
Gross profit	`GrossProfit`	$52.00M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$48.18M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$43.57M	USD	Annual
Operating income	`OperatingIncomeLoss`	$8.43M	USD	Annual
Operating income	`OperatingIncomeLoss`	$11.41M	USD	Annual
Interest expense	`InterestExpenseDebt`	$944.36K	USD	Annual
Interest expense	`InterestExpenseDebt`	$1.83M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$24.65K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$39.90K	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-1.79M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-919.71K	USD	Annual
Other expense	`OtherNonoperatingIncomeExpense`	$-97.67K	USD	Annual
Other expense	`OtherNonoperatingIncomeExpense`	$-666.23K	USD	Annual
Total other expense, net	`NonoperatingIncomeExpense`	$-1.59M	USD	Annual
Total other expense, net	`NonoperatingIncomeExpense`	$-1.89M	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.54M	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.83M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$1.03M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$1.73M	USD	Annual
Net income	`NetIncomeLoss`	$8.10M	USD	Annual
Net income	`NetIncomeLoss`	$5.51M	USD	Annual
Basic earnings per share	`EarningsPerShareBasic`	$1.65	USD	Annual
Basic earnings per share	`EarningsPerShareBasic`	$2.42	USD	Annual
Diluted earnings per share	`EarningsPerShareDiluted`	$1.60	USD	Annual
Diluted earnings per share	`EarningsPerShareDiluted`	$2.31	USD	Annual

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.10M	USD	Annual
Net income	`NetIncomeLoss`	$5.51M	USD	Annual
Depreciation	`Depreciation`	$2.43M	USD	Annual
Depreciation	`Depreciation`	$2.18M	USD	Annual
Amortization	`AdjustmentForAmortization`	$1.32M	USD	Annual
Amortization	`AdjustmentForAmortization`	$1.25M	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$968.47K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$1.26M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$60.94K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$162.64K	USD	Annual
Non-cash lease expense	`NonCashLeaseExpense`	$86.04K	USD	Annual
Non-cash lease expense	`NonCashLeaseExpense`	$19.22K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$290.13K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$778.87K	USD	Annual
Pension settlement	`PensionExpenseReversalOfExpenseNoncash`	$526.86K	USD	Annual
Accounts receivable	`IncreaseDecreaseInReceivables`	$2.03M	USD	Annual
Accounts receivable	`IncreaseDecreaseInReceivables`	$784.56K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$10.05M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-2.09M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-666.07K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-159.08K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$460.18K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.53M	USD	Annual
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$2.62M	USD	Annual
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$3.87M	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$9.19M	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-2.38M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.70M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.72M	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.57M	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.68M	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.68M	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.95M	USD	Annual
Net borrowings (repayments) of long-term debt	`ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities`	$5.53M	USD	Annual
Net borrowings (repayments) of long-term debt	`ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities`	$-7.04M	USD	Annual
Repayments on mortgage	`RepaymentsOnMortgage`	$266.67K	USD	Annual
Repayments on mortgage	`RepaymentsOnMortgage`	$266.67K	USD	Annual
Distributions to stockholders	`PaymentsOfDividends`	$1.61M	USD	Annual
Distributions to stockholders	`PaymentsOfDividends`	$1.60M	USD	Annual
Cash settlement of stock options	`PaymentsRelatedToCashSettlementOfShareBasedCompensation`	$1.69M	USD	Annual
Cash settlement of stock options	`PaymentsRelatedToCashSettlementOfShareBasedCompensation`	$1.64M	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	$286.99K	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$58.75K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.29M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.61M	USD	Annual
Effect of exchange rate changes	`EffectOfExchangeRateOnCashAndCashEquivalents`	$285.28K	USD	Annual
Effect of exchange rate changes	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.80K	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.41M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.65M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.41M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$6.82M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.17M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$4.41M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$6.82M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$4.17M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$755.34K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$422.34K	USD	Annual
Cash paid for interest expense	`InterestPaidNet`	$930.36K	USD	Annual
Cash paid for interest expense	`InterestPaidNet`	$1.86M	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$55.70M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$52.33M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$62.72M	USD	Point-in-time
Net income	`NetIncomeLoss`	$8.10M	USD	Annual
Net income	`NetIncomeLoss`	$5.51M	USD	Annual
Other comprehensive Income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.16M	USD	Annual
Other comprehensive Income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$189.13K	USD	Annual
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$968.47K	USD	Annual
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.26M	USD	Annual
Distribution to shareholders	`DividendsCommonStockCash`	$1.61M	USD	Annual
Distribution to shareholders	`DividendsCommonStockCash`	$1.64M	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$59.75K	USD	Annual
Cash settlement of stock options	`AdjustmentsToAdditionalPaidInCapitalCashSettlementOfStockOptions`	$1.64M	USD	Annual
Cash settlement of stock options	`AdjustmentsToAdditionalPaidInCapitalCashSettlementOfStockOptions`	$1.69M	USD	Annual
Purchase of treasury stock	`StockRepurchasedDuringPeriodValue`	$286.99K	USD	Annual
Purchase of treasury stock (shares)	`StockRepurchasedDuringPeriodShares`	14,420.00	shares	Annual
Ending Balance	`StockholdersEquity`	$55.70M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$52.33M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$62.72M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.10M	USD	Annual
Net income	`NetIncomeLoss`	$5.51M	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$647.63K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$45.22K	USD	Annual
Change in net prior service credit and actuarial gains, net of income tax expense	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$143.91K	USD	Annual
Change in net prior service credit and actuarial gains, net of income tax expense	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$514.27K	USD	Annual
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.16M	USD	Annual
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$189.13K	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$5.70M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.26M	USD	Annual

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.