Company: ZEUS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001437749-25-004742
Chunk: 674

Company: OLYMPIC STEEL INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 4
Chunk 674
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 $15.1 million and $11.6 million, respectively, and are measured at Net Asset Value (NAV). The fair value of the SERP assets are included in Other Long Term Assets on the Consolidated Balance Sheets.

    19.  Related-Party Transactions: 

   The Company’s Executive Chairman of the Board owns 50% of an entity that owns one of the Cleveland warehouses and leases it to the Company at a fair market value annual rental of $0.2 million. The lease expires on  December 31, 2028 with two five-year renewal options.

     74

   Schedule II – Valuation and Qualifying Accounts
   (in thousands)

           Additions          
 Description   Balance at Beginning of Period    Charged to Costs and Expenses    Charged to Other Accounts    Deductions    Balance at End of Period  
                     
 Year Ended December 31, 2022                     
 Allowance for credit losses  $2,502  $2,184  $-  $(855) $3,831 
 Tax valuation reserve  $1,197  $-  $-  $(278) $919 
                     
 Year Ended December 31, 2023                     
 Allowance for credit losses  $3,831  $(425) $-  $(776) $2,630 
 Tax valuation reserve  $919  $-  $-  $(430) $489 
                     
 Year Ended December 31, 2024                     
 Allowance for credit losses  $2,630  $(280) $-  $(543) $1,807 
 Tax valuation reserve  $489  $-  $-  $(43) $446 

     75

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM 9A. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures         

Evaluations required by Rule 13a-15 of the Securities Exchange Act of 1934, or Exchange Act, of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act)