Company: ZEUS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001437749-25-004742
Chunk: 550

Company: OLYMPIC STEEL INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 3
Chunk 550
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 -   -   (5,566)  (5,566)
 Stock-based compensation   1,817   -   -   1,817 
 Change in fair value of hedges   -   (1,270)  -   (1,270)
 Balance at December 31, 2023  $136,541  $41  $418,896  $555,478 
                 
 Net income  $-  $-  $22,980  $22,980 
 Payment of dividends   -   -   (6,680)  (6,680)
 Stock-based compensation   1,997   -   -   1,997 
 Change in fair value of hedges   -   149   -   149 
 Balance at December 31, 2024  $138,538  $190  $435,196  $573,924 

The accompanying notes are an integral part of these consolidated statements.

     52

Olympic Steel, Inc.

Notes to Consolidated Financial Statements

For The Years Ended December 31, 2024, 2023 and 2022

    1.  Summary of Significant Accounting Policies: 

   Nature of Business
    
   The Company operates in three reportable segments: specialty metals flat products, carbon flat products, and tubular and pipe products. The specialty metals flat products segment and the carbon flat products segment are at times consolidated and referred to as the flat products segments. Certain of the flat products segments’ assets and resources are shared by the specialty metals and carbon flat products segments, and both segments’ products are stored in the shared facilities and, in some locations, processed on shared equipment. As such, total assets and capital expenditures are reported in the aggregate for the flat products segment. Due to the shared assets and resources, certain of the flat products segment expenses are allocated between the specialty metals flat products segment and the carbon flat products segment based upon an established allocation methodology. The Company is a leading metals service center focused on the direct sale and value-added processing of carbon and coated steel, plate and coil products; stainless steel sheet, plate, bar and coil; aluminum sheet, plate and coil; pipe, tube bar, valves and fittings, tin plate and metal-intensive end-use products. The specialty metals flat products segment sells and