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Pension and Profit Sharing (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract] |
Plan Asset Allocation |
Asset Category | 2015 | 2014
Equity Securities | 58% | 67%
Fixed Income Securities | 37% | 29%
Other Securities / Investments | 5% | 3%
Total | 100% | 100%
Pension Plan Assets by Level |
2015 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Money Market Fund |  | $ | 66,914 |  |  | $ | — |  |  | $ | — |  |  | $ | 66,914 |
Acme United Common Stock |  |  | 174,000 |  |  |  | — |  |  |  | — |  |  |  | 174,000 |
Equity Common and Collected Funds |  |  | — |  |  |  | 652,135 |  |  |  | — |  |  |  | 652,135 |
Fixed Income Common and Collected Funds |  |  | — |  |  |  | 524,523 |  |  |  | — |  |  |  | 524,523 |
Total |  | $ | 240,914 |  |  | $ | 1,176,658 |  |  | $ | — |  |  | $ | 1,417,572 |
2014 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Money Market Fund |  | $ | 67,909 |  |  | $ | — |  |  | $ | — |  |  | $ | 67,909 |
Acme United Common Stock |  |  | 199,900 |  |  |  | — |  |  |  | — |  |  |  | 199,900 |
Equity Common and Collected Funds |  |  | — |  |  |  | 953,140 |  |  |  | — |  |  |  | 953,140 |
Fixed Income Common and Collected Funds |  |  | — |  |  |  | 463,586 |  |  |  | — |  |  |  | 463,586 |
Total |  | $ | 267,809 |  |  | $ | 1,416,726 |  |  | $ | — |  |  | $ | 1,684,535 |
Changes in Benefit Obligation |
|  | 2015 |  | 2014
Assumptions used to determine benefit obligation: |  |  |  |  |  |  |  |
Discount rate |  |  | 3.50 | % |  |  | 3.23 | %
Changes in benefit obligation: |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | (1,904,377 | ) |  | $ | (1,886,636 | )
Interest cost |  |  | (59,348 | ) |  |  | (69,806 | )
Service cost |  |  | (25,000 | ) |  |  | (25,000 | )
Actuarial loss |  |  | (62,677 | ) |  |  | (256,446 | )
Benefits and plan expenses paid |  |  | 274,614 |  |  |  | 333,511 |
Benefit obligation at end of year |  |  | (1,776,788 | ) |  |  | (1,904,377 | )
Changes in plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  |  | 1,684,535 |  |  |  | 1,703,602 |
Actual return on plan assets |  |  | (22,349 | ) |  |  | 124,326 |
Employer contribution |  |  | 30,000 |  |  |  | 190,118 |
Benefits and plan expenses paid |  |  | (274,614 | ) |  |  | (333,511 | )
Fair value of plan assets at end of year |  |  | 1,417,572 |  |  |  | 1,684,535 |
Funded status |  | $ | (359,216 | ) |  | $ | (219,842 | )
Amounts recognized in Accumulated Other Comprehensive Income: |  |  |  |  |  |  |  |
Net actuarial loss |  | $ | 1,423,319 |  |  | $ | 1,368,025 |
Prior service cost |  |  | 2,711 |  |  |  | 11,865 |
Total |  | $ | 1,426,030 |  |  | $ | 1,379,890 |
Components of Net Benefit Expense |
|  | 2015 |  | 2014
Assumptions used to determine net periodic benefit cost: |  |  |  |  |  |  |  |
Discount rate |  |  | 3.23 | % |  |  | 3.78 | %
Expected return on plan assets |  |  | 6.00 | % |  |  | 6.00 | %
Components of net benefit expense: |  |  |  |  |  |  |  |
Interest cost |  | $ | 59,348 |  |  | $ | 69,806 |
Service cost |  |  | 25,000 |  |  |  | 25,000 |
Expected return on plan assets |  |  | (92,620 | ) |  |  | (93,292 | )
Amortization of prior service costs |  |  | 9,155 |  |  |  | 9,155 |
Amortization of actuarial loss |  |  | 122,352 |  |  |  | 116,118 |
Net periodic benefit cost |  | $ | 123,235 |  |  | $ | 126,787 |
Amounts Recognized in Other Comprehensive Income |
|  | 2015 |  | 2014
Balance at beginning of the year |  | $ | 1,379,890 |  |  | $ | 1,279,751 |
Change in net loss |  |  | 177,647 |  |  |  | 225,412 |
Amortization of actuarial loss |  |  | (122,352 | ) |  |  | (116,118 | )
Amortization of prior service cost |  |  | (9,155 | ) |  |  | (9,155 | )
Change recognized in other comprehensive income |  |  | 46,140 |  |  |  | 100,139 |
Total recognized in other comprehensive income |  | $ | 1,426,030 |  |  | $ | 1,379,890 |
Benefits Expected to be Paid |
2016 | $ 223,000
2017 | 209,000
2018 | 194,000
2019 | 179,000
2020 | 164,000
Years 2021 - 2025 | 610,000

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the change in the accumulated postemployment benefit obligation from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
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