Company: ZEUS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001437749-25-004742
Chunk: 545

Company: OLYMPIC STEEL INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 3
Chunk 545
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 acquired company constituted $80.3 million, or 7.9%, of our total assets as of December 31, 2024, and $4.7 million, or 0.2%, of net sales for the year ended December 31, 2024. 

Based on our assessment, we concluded that, as of December 31, 2024, our internal control over financial reporting was effective based on those criteria.

The effectiveness of our internal control over financial reporting as of December 31, 2024 has been audited by Grant Thornton LLP, an independent registered public accounting firm, as stated in their report, which appears herein.

     47

Olympic Steel, Inc.

Consolidated Statements of Comprehensive Income

For The Years Ended December 31,

(in thousands, except per share data)

      2024    2023    2022  
             
 Net sales  $1,941,672  $2,158,163  $2,559,990 
             
 Costs and expenses             
 Cost of materials sold (excludes items shown separately below)   1,490,491   1,684,663   2,073,930 
 Warehouse and processing   128,770   122,212   104,668 
 Administrative and general   113,044   122,239   114,004 
 Distribution   67,467   66,979   60,529 
 Selling   46,643   41,436   40,174 
 Occupancy   17,268   16,520   13,200 
 Depreciation   24,548   21,545   17,285 
 Amortization   5,582   4,898   2,453 
 Total costs and expenses   1,893,813   2,080,492   2,426,243 
 Operating income   47,859   77,671   133,747 
 Other loss, net   93   78   45 
 Income before interest and income taxes   47,766   77,593   133,702 
 Interest and other expense on debt   16,461   16,006   10,080 
 Income before income taxes   31,305   61,587   123,622