Company: ZEUS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001437749-25-004742
Chunk: 660

Company: OLYMPIC STEEL INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 4
Chunk 660
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 assets between Levels 1, 2 or 3 fair value measurements. There have been no changes in the methodologies used at  December 31, 2024. Following is a description of the valuation methodologies used for assets and liabilities measured at fair value as of  December 31, 2024 and 2023:
    
   Metals swaps and embedded customer derivatives – Determined by using Level 2 inputs that include the price of nickel indexed to the LME. The fair value is determined based on quoted market prices and reflects the estimated amounts the Company would pay or receive to terminate the nickel swaps.
    
   Fixed rate interest rate hedge – Based on the present value of the expected future cash flows, considering the risks involved, and using discount rates appropriate for the maturity date. Market observable Level 2 inputs are used to determine the present value of future cash flows.
    
   Supplemental executive retirement plan - Determined by the Level 1 inputs that include the readily determinable and available fair value of the mutual funds that comprise the plan assets.  
    
   The following tables present information about the Company’s assets and liabilities that were measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques utilized by the Company:

       Value of Items Recorded at Fair Value  
   As of December 31, 2024  
 (in thousands)   Level 1    Level 2    Level 3    Total  
 Assets:                 
 Metal swaps  $-  $3,055  $-  $3,055 
 Embedded customer derivatives  $-  $402  $-  $402 
 Fixed interest rate hedge  $-  $254  $-  $254 
 Supplemental executive retirement plan  $15,061  $-  $-  $15,061 
 Total assets at fair value  $15,061  $3,711  $-  $18,772 
                 
 Liabilities:                 
 Metal swaps  $-  $3,457  $-  $3,457 
 Total liabilities recorded at fair value  $-  $3,457  $-  $3,457 

       Value of Items Recorded at Fair Value  
   As of December 31, 2023  
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