Company: ZEUS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001437749-25-004742
Chunk: 313

Company: OLYMPIC STEEL INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1A
Chunk 313
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 31, 2024, approximately 229 of the hourly plant personnel are represented by seven separate collective bargaining units. The table below shows the expiration dates of the collective bargaining agreements.
    
    Facility  Expiration date 
 Locust, North Carolina   March 4, 2025 
 St. Paul, Minnesota   May 25, 2025 
 Romeoville, Illinois   May 31, 2025 
 Minneapolis (coil), Minnesota   September 30, 2025 
 Indianapolis, Indiana   January 29, 2026 
 Minneapolis (plate), Minnesota   April 1, 2027 
Hammond, Indiana November 30, 2029

     69

    14.  Income Taxes: 

   The components of the Company’s provision (benefit) for income taxes from continuing operations were as follows:

       As of December 31,  
 (in thousands)   2024    2023    2022  
 Current:             
 Federal  $7,669  $11,574  $27,865 
 International   29   1,047   102 
 State and local   1,138   2,529   5,691 
   8,836   15,150   33,658 
 Deferred   (511)  1,908   (967)
 Income tax provision  $8,325  $17,058  $32,691 

   The components of the Company’s deferred income taxes at  December 31 are as follows:

     (in thousands)   2024    2023  
 Deferred tax assets:         
 Inventory (excluding LIFO reserve)  $2,980  $3,340 
 Net operating loss and tax credit carryforwards   896   803 
 Allowance for credit losses   452   657 
 Accrued expenses   8,865   7,543 
 Lease liabilities   10,090   9,567 
 Other   312   379 
 Deferred tax assets before valuation allowance   23,595   22,289 
 Valuation allowance   (446)  (489)
 Total deferred tax assets   23,149   21,800 
         
 Deferred tax liabilities:         
 LIFO reserve   (3,429)  (