Company: ZEUS
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001437749-25-014325
Chunk: 5

Company: OLYMPIC STEEL INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 5
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 of  March 31, 2025 and  December 31, 2024, respectively. The goodwill is deductible for tax purposes.

       Carbon Flat    Specialty Metals    Tubular and      
 (in thousands)   Products    Flat Products    Pipe Products    Total  
 Balance as of December 31, 2024  $65,986  $9,431  $8,401  $83,818 
 Acquisitions   -   -   -   - 
 Impairments   -   -   -   - 
 Balance as of March 31, 2025  $65,986  $9,431  $8,401  $83,818 

       10

   Intangible assets, net, consisted of the following as of  March 31, 2025 and  December 31, 2024, respectively:

       As of March 31, 2025  
   Gross Carrying    Accumulated    Intangible  
 (in thousands)   Amount    Amortization    Assets, Net  
 Customer relationships - subject to amortization  $84,459  $(19,759) $64,700 
 Covenant not to compete - subject to amortization   3,229   (1,258)  1,971 
 Technology and know-how - subject to amortization   8,900   (1,116)  7,784 
 Trade name - not subject to amortization   42,068   -   42,068 
  $138,656  $(22,133) $116,523 

       As of December 31, 2024  
   Gross Carrying    Accumulated    Intangible  
 (in thousands)   Amount    Amortization    Assets, Net  
 Customer relationships - subject to amortization  $84,459  $(18,513) $65,946 
 Covenant not to compete - subject to amortization   3,229   (1,110)  2,119 
 Technology and know-how - subject to amortization   8,900   (922)  7,978 
 Trade name - not subject to amortization   42,068   -   42