Company: ZEUS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001437749-25-004742
Chunk: 60

Company: OLYMPIC STEEL INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1C
Chunk 60
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$56,117 
 Operating lease accumulated amortization   (17,401)  (21,737)
 Operating lease right of use asset, net  $36,936  $34,380 
         
 Operating lease current liabilities   5,865   7,813 
 Operating lease liabilities   31,945   27,261 
  $37,810  $35,074 

     (in thousands)   2024    2023  
 Finance leases         
 Finance lease  $4,812  $5,686 
 Finance lease accumulated depreciation   (2,354)  (2,615)
 Finance lease right of use asset, net  $2,458  $3,071 
         
 Finance lease current liabilities   853   1,087 
 Finance lease liabilities   1,697   2,106 
  $2,550  $3,193 

     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