Company: ZEUS
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001437749-25-014325
Chunk: 7

Company: OLYMPIC STEEL INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 7
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 lease accumulated depreciation   (2,131)  (2,354)
 Finance lease, net   2,232   2,458 
         
 Finance lease current liabilities   789   853 
 Finance lease liabilities   1,529   1,697 
 Total finance lease liabilities  $2,318  $2,550 
         
 Weighted Average Remaining Lease Term         
 Operating leases (in years)   9   9 
 Finance leases (in years)   3   4 
         
 Weighted Average Discount Rate         
 Operating leases   6.08%  5.76%
 Finance leases   5.94%  5.89%

   Maturities of lease liabilities were as follows:

       Operating    Finance  
 (in thousands)   Leases    Leases  
 Year Ending December 31,         
 2025  $6,695  $709 
 2026   8,548   713 
 2027   7,323   600 
 2028   5,810   427 
 2029   4,726   97 
 Thereafter   25,476   8 
 Total future minimum lease payments  $58,578  $2,554 
 Less remaining imputed interest   (15,510)  (236)
 Total  $43,068  $2,318 

       12

    7.  Debt: 

   The Company’s debt is comprised of the following components:

       As of  
   March 31,    December 31,  
 (in thousands)   2025    2024  
 Asset-based revolving credit facility due June 16, 2026  $235,360  $272,456 
 Total debt  $235,360  $272,456 

   The Company's ABL Credit Facility is collateralized by the Company's accounts receivable, inventory, personal property and certain real estate. The $625 million ABL Credit Facility consists of: (i) a revolving credit facility of up to $595 million, including a $20 million sub-limit for letters of credit, and (ii) a first in, last out revolving credit facility of up to $30 million. Under the terms of the ABL Credit Facility,