10-K Filing

ACME UNITED CORP CIK: 2098 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001564590-22-012597`
Period End Date	20211231
Filing Date	20220330
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	acu-10k_20211231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 31 Cash Flow Statement 62 Stockholders Equity 21 Comprehensive Income 9

Balance Sheet 73 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 issued	`CommonStockSharesIssued`	3.52M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.07M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.84M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.34M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.84M	USD	Point-in-time
Accounts receivable, less allowance	`AccountsReceivableNetCurrent`	$27.17M	USD	Point-in-time
Accounts receivable, less allowance	`AccountsReceivableNetCurrent`	$34.22M	USD	Point-in-time
Inventories	`InventoryNet`	$50.70M	USD	Point-in-time
Inventories	`InventoryNet`	$53.55M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.64M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.63M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$95.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$83.69M	USD	Point-in-time
Land	`Land`	$1.77M	USD	Point-in-time
Land	`Land`	$1.76M	USD	Point-in-time
Buildings and building improvements	`BuildingsAndImprovementsGross`	$12.90M	USD	Point-in-time
Buildings and building improvements	`BuildingsAndImprovementsGross`	$13.46M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$29.76M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$24.52M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$39.19M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$44.98M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$18.95M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$20.95M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$24.03M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$20.24M	USD	Point-in-time
Intangible assets, less accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$17.23M	USD	Point-in-time
Intangible assets, less accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$18.72M	USD	Point-in-time
Goodwill	`Goodwill`	$4.80M	USD	Point-in-time
Goodwill	`Goodwill`	$4.80M	USD	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$3.13M	USD	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$2.42M	USD	Point-in-time
Total assets	`Assets`	$129.87M	USD	Point-in-time
Total assets	`Assets`	$144.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.98M	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$872.91K	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$1.00M	USD	Point-in-time
Current portion of mortgage payable	`SecuredDebtCurrent`	$388.54K	USD	Point-in-time
Current portion of mortgage payable	`SecuredDebtCurrent`	$266.67K	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$9.91M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$11.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.28M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$33.04M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$38.77M	USD	Point-in-time
Mortgage payable, net of current portion	`MortgagePayableNonCurrent`	$11.08M	USD	Point-in-time
Mortgage payable, net of current portion	`MortgagePayableNonCurrent`	$2.91M	USD	Point-in-time
Operating lease liability - non-current portion	`OperatingLeaseLiabilityNoncurrent`	$2.36M	USD	Point-in-time
Operating lease liability - non-current portion	`OperatingLeaseLiabilityNoncurrent`	$1.65M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$110.22K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$599.28K	USD	Point-in-time
Total liabilities	`Liabilities`	$67.15M	USD	Point-in-time
Total liabilities	`Liabilities`	$67.36M	USD	Point-in-time
Common stock, par value $2.50: - 5,065,518 shares issued and 3,520,646 shares outstanding in 2021; 4,840,571 shares issued and 3,338,913 shares outstanding in 2020,	`CommonStockValue`	$12.10M	USD	Point-in-time
Common stock, par value $2.50: - 5,065,518 shares issued and 3,520,646 shares outstanding in 2021; 4,840,571 shares issued and 3,338,913 shares outstanding in 2020,	`CommonStockValue`	$12.65M	USD	Point-in-time
Treasury stock, at cost, 1,544,872 in 2021 and 1,501,658 shares in 2020	`TreasuryStockValue`	$16.00M	USD	Point-in-time
Treasury stock, at cost, 1,544,872 in 2021 and 1,501,658 shares in 2020	`TreasuryStockValue`	$14.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.93M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.93M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.99M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.38M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-825.97K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$58.03M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$69.87M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$77.08M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$62.72M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$55.70M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$129.87M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$144.44M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$164.00M	USD	Annual
Net sales	`Revenues`	$182.09M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$117.29M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$104.41M	USD	Annual
Gross profit	`GrossProfit`	$59.59M	USD	Annual
Gross profit	`GrossProfit`	$64.80M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$52.03M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$48.18M	USD	Annual
Operating income	`OperatingIncomeLoss`	$12.77M	USD	Annual
Operating income	`OperatingIncomeLoss`	$11.41M	USD	Annual
Interest expense	`InterestExpenseDebt`	$944.36K	USD	Annual
Interest expense	`InterestExpenseDebt`	$921.97K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$24.65K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$13.74K	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-908.22K	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-919.71K	USD	Annual
PPP loan forgiveness	`PPPLoanForgiveness`	$3.51M	USD	Annual
Other expense	`OtherNonoperatingIncomeExpense`	$-666.23K	USD	Annual
Other expense	`OtherNonoperatingIncomeExpense`	$-194.88K	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$-666.23K	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$3.31M	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$15.17M	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.83M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$1.73M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$1.52M	USD	Annual
Net income	`NetIncomeLoss`	$8.10M	USD	Annual
Net income	`NetIncomeLoss`	$13.66M	USD	Annual
Basic earnings per share	`EarningsPerShareBasic`	$2.42	USD	Annual
Basic earnings per share	`EarningsPerShareBasic`	$3.93	USD	Annual
Diluted earnings per share	`EarningsPerShareDiluted`	$3.45	USD	Annual
Diluted earnings per share	`EarningsPerShareDiluted`	$2.31	USD	Annual

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.10M	USD	Annual
Net income	`NetIncomeLoss`	$13.66M	USD	Annual
Depreciation	`Depreciation`	$2.56M	USD	Annual
Depreciation	`Depreciation`	$2.43M	USD	Annual
Amortization	`AdjustmentForAmortization`	$1.49M	USD	Annual
Amortization	`AdjustmentForAmortization`	$1.32M	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$1.26M	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$1.81M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$489.06K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$60.94K	USD	Annual
Non-cash lease expense	`NonCashLeaseExpense`	$86.04K	USD	Annual
Non-cash lease expense	`NonCashLeaseExpense`	$158.25K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$778.87K	USD	Annual
Pension settlement	`PensionExpenseReversalOfExpenseNoncash`	$526.86K	USD	Annual
PPP Loan Forgiveness	`PPPLoanForgiveness`	$3.51M	USD	Annual
Accounts receivable	`IncreaseDecreaseInReceivables`	$2.03M	USD	Annual
Accounts receivable	`IncreaseDecreaseInReceivables`	$7.23M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$10.05M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$3.21M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.04M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-159.08K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$460.18K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.50M	USD	Annual
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$2.62M	USD	Annual
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-1.53M	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-8.52M	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-2.38M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.72M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.14M	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.57M	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.37M	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.95M	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.37M	USD	Annual
Net (repayments) borrowings of long-term debt	`ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities`	$-5.73M	USD	Annual
Net (repayments) borrowings of long-term debt	`ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities`	$5.53M	USD	Annual
Repayments on mortgage	`RepaymentsOnMortgage`	$3.18M	USD	Annual
Repayments on mortgage	`RepaymentsOnMortgage`	$266.67K	USD	Annual
Borrowing on mortgage	`BorrowingOnMortgage`	$11.47M	USD	Annual
Distributions to stockholders	`PaymentsOfDividends`	$1.79M	USD	Annual
Distributions to stockholders	`PaymentsOfDividends`	$1.60M	USD	Annual
Cash settlement of stock options	`PaymentsRelatedToCashSettlementOfShareBasedCompensation`	$1.64M	USD	Annual
Cash settlement of stock options	`PaymentsRelatedToCashSettlementOfShareBasedCompensation`	$342.29K	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	$286.99K	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	$1.47M	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$58.75K	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.09M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.04M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.29M	USD	Annual
Effect of exchange rate changes	`EffectOfExchangeRateOnCashAndCashEquivalents`	$285.28K	USD	Annual
Effect of exchange rate changes	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-134.64K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.65M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$675.97K	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.17M	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`	$4.84M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$4.17M	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`	$4.84M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$755.34K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$875.00K	USD	Annual
Cash paid for interest expense	`InterestPaidNet`	$908.78K	USD	Annual
Cash paid for interest expense	`InterestPaidNet`	$930.36K	USD	Annual

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$77.08M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$62.72M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$55.70M	USD	Point-in-time
Net income	`NetIncomeLoss`	$8.10M	USD	Annual
Net income	`NetIncomeLoss`	$13.66M	USD	Annual
Other comprehensive Income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-554.68K	USD	Annual
Other comprehensive Income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.16M	USD	Annual
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.26M	USD	Annual
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.81M	USD	Annual
Distribution to shareholders	`DividendsCommonStockCash`	$1.82M	USD	Annual
Distribution to shareholders	`DividendsCommonStockCash`	$1.64M	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$3.09M	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`	$342.29K	USD	Annual
Purchase of treasury stock	`StockRepurchasedDuringPeriodValue`	$1.47M	USD	Annual
Purchase of treasury stock	`StockRepurchasedDuringPeriodValue`	$286.99K	USD	Annual
Purchase of treasury stock (shares)	`StockRepurchasedDuringPeriodShares`	43,214.00	shares	Annual
Ending Balance	`StockholdersEquity`	$77.08M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$62.72M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$55.70M	USD	Point-in-time

Comprehensive Income 9 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.10M	USD	Annual
Net income	`NetIncomeLoss`	$13.66M	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$647.63K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-554.68K	USD	Annual
Change in net prior service credit and actuarial gains, net of income tax expense	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$514.27K	USD	Annual
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-554.68K	USD	Annual
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.16M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$13.10M	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.