Company: ZEUS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001437749-25-004742
Chunk: 655

Company: OLYMPIC STEEL INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 4
Chunk 655
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193 

     Weighted average remaining lease term (in years)   2024    2023  
 Operating leases   9   6 
 Finance leases   4   4 
         
 Weighted average discount rate         
 Operating leases   5.76%  4.07%
 Finance leases   5.89%  5.06%

     64

   Maturities of lease liabilities were as follows:

     (in thousands)   Operating Lease    Finance Lease  
 Year Ending December 31,         
 2025  $7,859  $976 
 2026   7,441   713 
 2027   6,191   600 
 2028   4,984   427 
 2029   3,904   97 
 Thereafter   20,718   8 
 Total future minimum lease payments  $51,097  $2,821 
 Less remaining imputed interest   (13,287)  (271)
 Total  $37,810  $2,550 

    9.  Debt: 

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

       As of December 31,  
 (in thousands)   2024    2023  
 Asset-based revolving credit facility due June 16, 2026  $272,456  $190,198 
 Total debt   272,456   190,198 
 Less current amount   -   - 
 Total long-term debt  $272,456  $190,198 

   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, the Company  may, subject to the satisfaction of certain conditions, request additional commitments under the revolving credit facility in the aggregate principal amount of up to $200 million to the extent that existing or new lenders agree to provide such additional commitments, and add real estate