0000002098
2012-01-01
2012-12-31
0000002098
2013-04-22
0000002098
2012-12-31
0000002098
2013-03-31
0000002098
2013-01-01
2013-03-31
0000002098
2008-12-31
0000002098
2008-12-01
2008-12-31
0000002098
us-gaap:ReportableSegmentsMember
2012-01-01
2012-03-31
0000002098
ACU:ReportableSegmentsAMember
2012-01-01
2012-03-31
0000002098
ACU:ReportableSegmentsBMember
2012-01-01
2012-03-31
0000002098
us-gaap:ReportableSegmentsMember
2013-01-01
2013-03-31
0000002098
ACU:ReportableSegmentsAMember
2013-01-01
2013-03-31
0000002098
ACU:ReportableSegmentsBMember
2013-01-01
2013-03-31
0000002098
us-gaap:ReportableSegmentsMember
2012-03-31
0000002098
us-gaap:ReportableSegmentsMember
2013-03-31
0000002098
ACU:ReportableSegmentsAMember
2012-03-31
0000002098
ACU:ReportableSegmentsAMember
2013-03-31
0000002098
ACU:ReportableSegmentsBMember
2012-03-31
0000002098
ACU:ReportableSegmentsBMember
2013-03-31
0000002098
us-gaap:SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember
2012-06-07
0000002098
us-gaap:SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember
2012-01-01
2012-03-31
0000002098
2012-04-05
0000002098
2012-01-01
2012-03-31
0000002098
2011-12-31
0000002098
2012-03-31
0000002098
2013-04-25
0000002098
2013-04-01
2013-04-30
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
xbrli:pure
ACU:Y
Q1
2013
3145202
9750000
8941000
7853000
4078000
16442000
14902000
1925000
1919000
58409000
56212000
291000
287000
2294000
2268000
8283000
8395000
8515000
8672000
1702000
1685000
1124000
1119000
67828000
65494000
56115000
55656000
6107000
5020000
5606000
4818000
67828000
6480000
4842000
5250000
4336000
11730000
9178000
24320000
24452000
36962000
34592000
11218000
11268000
67828000
65494000
10868000
10950000
2353000
2278000
912000
962000
12283000
12283000
2.50
2.50
8000000
8000000
4487524
4507274
1362072
1362072
220000
209000
67000
49000
105000
88000
-1411000
1703000
288000
-998000
-1637000
-1441000
-1033000
-376000
-1178000
-2751000
155000
75000
26000
29000
-181000
-104000
9000
37000
23000
575000
-869000
-2491000
132000
-649000
232000
-1217000
-809000
-3775000
513000
166000
50000
242000
564000
-10000
-41000
458000
3132000
3129000
3213000
3131000
50000
485000
-259000
225000
<p style="margin: 0pt"></p>
<table cellpadding="0" cellspacing="0" align="center" style="width: 80%; font-size: 10pt">
<tr style="vertical-align: bottom">
<td style="border-bottom: black 2px solid; text-align: center; width: 33%"><p style="margin-top: 0; text-align: center; margin-bottom: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance
at</b></font></p>
<p style="margin-top: 0; text-align: center; margin-bottom: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>December
31, 2012</b></font></p></td>
<td style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt; width: 34%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Payments</b></font></td>
<td style="border-bottom: black 2px solid; text-align: center; vertical-align: top; width: 33%"><p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance
at</b></font></p>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>March 31, 2013</b></font></p></td></tr>
<tr style="vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="border-bottom: black 4px double; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">$  124</font></td>
<td style="border-bottom: black 4px double; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">$  (22)</font></td>
<td style="border-bottom: black 4px double; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">$  102</font></td></tr>
</table>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
2500000
2000000
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">In
December 2008, the Company sold property it owned in Bridgeport, Connecticut to B&E Juices, Inc. for $2.5 million, of which
$2.0 million is secured by a mortgage on the property.  The property consists of approximately four acres of land and
48,000 sq. feet of warehouse space.  The property was the site of the Company’s original scissor factory which
opened in 1887 and was closed in 1996.</p>
1800000
2
17000
21000
27000
24000
2000
2000
40000
42000
24319829
24451828
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"><b>Note
5— Segment Information</b></font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">The
Company reports financial information based on the organizational structure used by management for making operating and investment
decisions and for assessing performance. The Company’s reportable business segments consist of: (1) United States; (2) Canada
and (3) Europe. As described below, the activities of the Company’s Asian operations are closely linked to those of the
U.S. operations; accordingly, management reviews the financial results of both on a consolidated basis, and the results of the
Asian operations have been aggregated with the results of the United States operations to form one reportable segment called the
“United States segment” or “U.S. operating segment”. Each reportable segment derives its revenue from
the sales of cutting devices, measuring instruments and safety products for school, office, home, hardware and industrial use.</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Domestic
sales orders are filled from the Company’s distribution center in North Carolina. The Company is responsible for the costs
of shipping, insurance, customs clearance, duties, storage and distribution related to such products.  Orders filled
from the Company’s inventory are generally for less than container-sized lots.</font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Direct
import sales are products sold by the Company’s Asian subsidiary, directly to major U.S. retailers, who take ownership of
the products in Asia. These sales are completed by delivering product to the customers’ common carriers at the shipping
points in Asia. Direct import sales are made in larger quantities than domestic sales, typically full containers. Direct import
sales represented approximately 12% and 10% of the Company’s total net sales for the three months ended March 31, 2013 and
2012, respectively.</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">The
chief operating decision maker evaluates the performance of each operating segment based on segment revenues and operating income.
Segment amounts are presented after converting to U.S. dollars and consolidating eliminations.</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Financial
data by segment (in thousands):</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="text-align: center; vertical-align: bottom"><p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>Three
months ended</b></font></p>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>March 31</b></font></p></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Sales
to external customers:</font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>2012</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt; padding-left: 27pt; width: 68%"><font style="font: 10pt Times New Roman, Times, Serif">United
States</font></td>
<td style="text-align: right; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right; width: 12%"><font style="font: 10pt Times New Roman, Times, Serif">14,227</font></td>
<td nowrap="nowrap" style="text-align: left; width: 2%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; width: 2%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right; width: 12%"><font style="font: 10pt Times New Roman, Times, Serif">12,595</font></td>
<td nowrap="nowrap" style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Canada</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,625</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,658</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Europe</font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,799</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,625</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 4px; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Consolidated</font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">17,651</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">16,878</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Operating income:</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">United
States</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">564</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">166</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Canada</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(10</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">50</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Europe</font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(41</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">242</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 4px; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Consolidated</font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">513</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">458</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Interest
expense, net</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">69</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">56</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Other
expense, net</font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">42</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 4px; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Consolidated
income before income taxes</font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">441</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">360</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>March
31</b></font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>December
31</b></font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Assets
by segment</font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>2012</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; padding-left: 27pt; text-indent: 0pt; width: 68%"><font style="font: 10pt Times New Roman, Times, Serif">United
States</font></td>
<td style="text-align: right; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right; width: 12%"><font style="font: 10pt Times New Roman, Times, Serif">55,656</font></td>
<td nowrap="nowrap" style="text-align: left; width: 2%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; width: 2%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right; width: 12%"><font style="font: 10pt Times New Roman, Times, Serif">56,115</font></td>
<td nowrap="nowrap" style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; padding-left: 27pt; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Canada</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,020</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,107</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; padding-left: 27pt; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Europe</font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,818</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,606</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 4px; padding-left: 27pt; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Consolidated</font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">65,494</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">67,828</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0pt"></p>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="text-align: center; vertical-align: bottom"><p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>Three
months ended</b></font></p>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>March 31</b></font></p></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Sales
to external customers:</font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>2012</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt; padding-left: 27pt; width: 68%"><font style="font: 10pt Times New Roman, Times, Serif">United
States</font></td>
<td style="text-align: right; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right; width: 12%"><font style="font: 10pt Times New Roman, Times, Serif">14,227</font></td>
<td nowrap="nowrap" style="text-align: left; width: 2%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; width: 2%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right; width: 12%"><font style="font: 10pt Times New Roman, Times, Serif">12,595</font></td>
<td nowrap="nowrap" style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Canada</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,625</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,658</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Europe</font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,799</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,625</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 4px; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Consolidated</font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">17,651</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">16,878</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Operating income:</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">United
States</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">564</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">166</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Canada</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(10</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">50</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Europe</font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(41</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">242</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 4px; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Consolidated</font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">513</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">458</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Interest
expense, net</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">69</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">56</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Other
expense, net</font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">42</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 4px; text-indent: 0pt; padding-left: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Consolidated
income before income taxes</font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">441</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">360</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"><b>Note
8 – Business Combinations</b></font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">On
June 7, 2012, the Company purchased certain assets of The C-Thru Ruler Company (“C-Thru”), a leading supplier of drafting,
measuring, lettering and stencil products. The Company purchased inventory and intellectual property for approximately $1.47 million
using funds borrowed under its revolving credit facility with HSBC. The Company recorded approximately $0.42 million for inventory,
as well as approximately $1.05 million for intangible assets, consisting primarily of customer relationships.</font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font>Assuming C-Thru
was acquired on January 1, 2012, unaudited proforma combined net sales and net income for the three months ended March 31, 2012
for the Company would have been approximately $17.4 million and $300,000 respectively.</p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
1470000
17400000
420000
1050000
0.0175
0.0175
30000000
40000000
-39000
-34000
0000002098
10-Q
2013-03-31
false
--12-31
No
No
Yes
Smaller Reporting Company
28819000
28434000
71000
48000
1402000
1968000
5636000
5792000
27082000
27172000
245000
-14000
6427000
5944000
5914000
5486000
127000
103000
58000
47000
-69000
-56000
-3000
-42000
-72000
-98000
441000
360000
132000
100000
81000
2000
100000
21000
219000
370000
30866000
30902000
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"><b>Note
1 — Basis of Presentation</b></font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">In
the opinion of management, the accompanying condensed consolidated financial statements include all adjustments necessary to present
fairly the financial position, results of operations and cash flows of Acme United Corporation (the “Company”).  These
adjustments are of a normal, recurring nature.  However, the financial statements do not include all of the disclosures
normally required by accounting principles generally accepted in the United States of America or those normally made in the Company's
Annual Report on Form 10-K. Please refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2012 for
such disclosures.  The condensed consolidated balance sheet as of December 31, 2012 was derived from the audited consolidated
balance sheet as of that date.  The results of operations for interim periods are not necessarily indicative of the
results to be expected for the full year.  The information included in this Quarterly Report on Form 10-Q should be
read in conjunction with the Management’s Discussion and Analysis of Financial Condition and Results of Operations and the
financial statements and notes thereto, included in the Company’s 2012 Annual Report on Form 10-K.</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">The
Company has evaluated events and transactions subsequent to March 31, 2013 and through the date these condensed consolidated financial
statements were included in this Form 10-Q and filed with the SEC.</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif">In February 2013, the Financial Accounting Standards
Board (“FASB”) issued an accounting standards update on the reporting of amounts reclassified out of accumulated other
comprehensive income, to improve the transparency of reporting. These reclassifications present the effects on the line items
of net income of significant amounts reclassified out of accumulated other comprehensive income – but only if the item reclassified
is required under U.S. GAAP to be reclassified to net income int its entirety in the same reporting period. This standard update
is effective for reporting periods beginning after December 15, 2012. The adoption of this accounting standard did not have an
impact on our consolidated financial statements.</font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"><b>Note
2 — Contingencies</b></font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">The
Company is involved from time to time in disputes and other litigation in the ordinary course of business and may encounter other
contingencies, which may include environmental and other matters. The Company presently has no matters other than the
environmental remediation accrual described below.</font></p>
<p style="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font>In December 2008, the Company sold property it owned in Bridgeport, Connecticut
to B&E Juices, Inc. for $2.5 million, of which $2.0 million is secured by a mortgage on the property.  The property
consists of approximately four acres of land and 48,000 sq. feet of warehouse space.  The property was the site of the
Company’s original scissor factory which opened in 1887 and was closed in 1996.</p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Under
the terms of the sale agreement, and as required by the Connecticut Transfer Act, the Company is required to remediate any environmental
contamination on the property. During 2008, the Company hired an independent environmental consulting firm to conduct environmental
studies in order to identify the extent of the environmental contamination on the property and to develop a remediation plan.
As a result of those studies and the estimates prepared by the independent environmental consulting firm, the Company recorded
an undiscounted liability of approximately $1.8 million related to the remediation of the property. This accrual includes the
costs of required investigation, remedial activities, and post-remediation operating and maintenance.</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">The
remediation work, which began in the third quarter of 2009, was completed during the third quarter of 2012.  The Company,
with the assistance of its independent environmental consulting firm, must continue to monitor contaminant levels on the property
to ensure they comply with set governmental standards. The Company expects that the monitoring period could last a minimum of
two years.   At March 31, 2013, the Company had approximately $102,000 remaining in its accrual for post-remediation
monitoring and project closing costs, of which approximately $43,000 was classified as a current liability at that date.</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">The
change in the accrual for environmental remediation for the three months ended March 31, 2013 follows (in thousands):</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellpadding="0" cellspacing="0" align="center" style="width: 80%; font-size: 10pt">
<tr style="vertical-align: bottom">
<td style="border-bottom: black 2px solid; text-align: center; width: 33%"><p style="margin-top: 0; text-align: center; margin-bottom: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance
at</b></font></p>
<p style="margin-top: 0; text-align: center; margin-bottom: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>December
31, 2012</b></font></p></td>
<td style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt; width: 34%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Payments</b></font></td>
<td style="border-bottom: black 2px solid; text-align: center; vertical-align: top; width: 33%"><p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance
at</b></font></p>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>March 31, 2013</b></font></p></td></tr>
<tr style="vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="border-bottom: black 4px double; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">$  124</font></td>
<td style="border-bottom: black 4px double; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">$  (22)</font></td>
<td style="border-bottom: black 4px double; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">$  102</font></td></tr>
</table>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Also,
as part of the sale, the Company provided the buyer with a mortgage loan of $2.0 million at six percent interest. The mortgage
is payable in monthly installments of principal and interest with the remaining outstanding balance due in full, one year after
remediation  and monitoring on the property have been completed.</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0pt"> </p>
<p style="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"><b>Note
3 —</b> <b>Pension</b></font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Components
of net periodic pension cost are as follows (in thousands):</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Three
Months Ended</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>March
31</b></font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>March
31</b></font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>2012</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Components of net periodic
benefit cost:</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt; width: 68%"><font style="font: 10pt Times New Roman, Times, Serif">Interest cost</font></td>
<td style="text-align: right; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right; width: 12%"><font style="font: 10pt Times New Roman, Times, Serif">17</font></td>
<td nowrap="nowrap" style="text-align: left; width: 2%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; width: 2%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right; width: 12%"><font style="font: 10pt Times New Roman, Times, Serif">21</font></td>
<td nowrap="nowrap" style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Service cost</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Expected return on plan
assets</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(27</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(24</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Amortization of prior
service costs</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Amortization
of actuarial loss</font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">39</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">34</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">40</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">42</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">The
Company’s funding policy with respect to its qualified plan is to contribute at least the minimum amount required by applicable
laws and regulations. In 2013, the Company is required to contribute approximately $235,000.</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"><b>Note
4 — Long Term Debt and Stockholders Equity</b></font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">As
of March 31, 2013 and December 31, 2012, the Company had outstanding borrowings of $24,451,828 and $24,319,829, respectively,
under the Company’s revolving loan agreement with HSBC Bank, N.A. dated April 5, 2012.  Under the revolving loan
agreement, the Company is required to maintain specific amounts of tangible net worth, a specified debt service coverage ratio,
and a fixed charge coverage ratio.  At March 31, 2013 the Company was in compliance with these covenants.</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">On
April 25, 2013, the Company amended the loan agreement with HSBC Bank, N.A. dated April 5, 2012.  The amendment increased
the borrowing limit to $40 million from $30 million. The interest rate remains the same at LIBOR plus 1.75%. All principal amounts
outstanding under the agreement are required to be repaid in a single amount on April 5, 2017, the date the agreement expires;
interest is payable monthly.  Funds borrowed under the agreement may be used for working capital, general operating
expenses, share repurchases, acquisitions and certain other purposes.  Under the amended loan agreement, the Company
is required to maintain specific amounts of tangible net worth, a debt/net worth ratio, and a fixed charge coverage ratio.</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">During
the first three months of 2013, the Company issued a total of 19,750 shares of common stock and received aggregate proceeds of
$99,925 upon the exercise of employee stock options.</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"><b>Note
6 – Stock Based Compensation</b></font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">The
Company recognizes share-based compensation at fair value of the equity instrument on the grant date.  Compensation
expense is recognized over the required service period.   Share-based compensation expenses were $105,000 and $87,516
for the quarters ended March 31, 2013 and March 31, 2012, respectively. During the three months ended March 31, 2013 and 2012,
the Company granted 37,500 and 64,938 employee stock options, respectively, with a weighted average fair value of $2.65 and $2.23,
respectively.   As of March 31, 2013, there was a total of $736,891 of unrecognized compensation cost, adjusted
for estimated forfeitures, related to non-vested, share –based payments granted to the Company’s employees.</font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"><b>Note
7 – Fair Value Measurements</b></font></p>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">The
carrying value of the Company’s bank debt and note receivable approximates fair value. Fair value was determined using a
discounted cash flow analysis.</font></p>
<p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"><b> </b></font></p>
43000
.06
235000
9000
9000
2017-04-05
Under the revolving loan agreement, the Company is required to maintain specific amounts of tangible net worth, a specified
debt service coverage ratio, and a fixed charge coverage ratio. At March 31, 2013 the Company was in compliance with these
covenants.
Interest rate of LIBOR plus 1.75%
19750
99925
ACME UNITED CORP
30292000
30450000
17651000
12595000
1658000
2625000
14227000
1625000
1799000
16878000
11224000
10934000
309000
260000
.10
.08
.10
.08
4240000
4200000
1032000
1032000
-787000
-1046000
.07
.07
124000
102000
22000
105000
87516
37500
64938
2.65
2.23
736891
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Three
Months Ended</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>March
31</b></font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>March
31</b></font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>2012</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Components of net periodic
benefit cost:</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt; width: 68%"><font style="font: 10pt Times New Roman, Times, Serif">Interest cost</font></td>
<td style="text-align: right; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right; width: 12%"><font style="font: 10pt Times New Roman, Times, Serif">17</font></td>
<td nowrap="nowrap" style="text-align: left; width: 2%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; width: 2%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right; width: 12%"><font style="font: 10pt Times New Roman, Times, Serif">21</font></td>
<td nowrap="nowrap" style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Service cost</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Expected return on plan
assets</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(27</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(24</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Amortization of prior
service costs</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Amortization
of actuarial loss</font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">39</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">34</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">40</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">42</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0pt"></p>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>March
31</b></font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>December
31</b></font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Assets
by segment</font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>2012</b></font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; padding-left: 27pt; text-indent: 0pt; width: 68%"><font style="font: 10pt Times New Roman, Times, Serif">United
States</font></td>
<td style="text-align: right; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right; width: 12%"><font style="font: 10pt Times New Roman, Times, Serif">55,656</font></td>
<td nowrap="nowrap" style="text-align: left; width: 2%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; width: 2%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="text-align: right; width: 12%"><font style="font: 10pt Times New Roman, Times, Serif">56,115</font></td>
<td nowrap="nowrap" style="text-align: left; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; padding-left: 27pt; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Canada</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,020</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,107</font></td>
<td nowrap="nowrap" style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #cceeff; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 2px; padding-left: 27pt; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Europe</font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,818</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2px solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,606</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 2px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
<td style="text-align: left; padding-bottom: 4px; padding-left: 27pt; text-indent: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Consolidated</font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">65,494</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 4px double; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 4px double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">67,828</font></td>
<td nowrap="nowrap" style="text-align: left; padding-bottom: 4px"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
.12
.10
<p style="margin: 0">In February 2013, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update on the
reporting of amounts reclassified out of accumulated other comprehensive income, to improve the transparency of reporting.
These reclassifications present the effects on the line items of net income of significant amounts reclassified out of accumulated
other comprehensive income – but only if the item reclassified is required under U.S. GAAP to be reclassified to net
income int its entirety in the same reporting period. This standard update is effective for reporting periods beginning after
December 15, 2012. The adoption of this accounting standard did not have an impact on our consolidated financial statements.</p>
300000