Company: ZEUS
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001437749-25-024377
Chunk: 6

Company: OLYMPIC STEEL INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 6
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2024  $65,986  $9,431  $8,401  $83,818 
 Acquisitions   -   -   -   - 
 Impairments   -   -   -   - 
 Balance as of June 30, 2025  $65,986  $9,431  $8,401  $83,818 

       10

   Intangible assets, net, consisted of the following as of  June 30, 2025 and  December 31, 2024, respectively:

       As of June 30, 2025  
   Gross Carrying    Accumulated    Intangible  
 (in thousands)   Amount    Amortization    Assets, Net  
 Customer relationships - subject to amortization  $84,459  $(20,896) $63,563 
 Covenant not to compete - subject to amortization   3,229   (1,407)  1,822 
 Technology and know-how - subject to amortization   8,900   (1,280)  7,620 
 Trade name - not subject to amortization   42,068   -   42,068 
  $138,656  $(23,583) $115,073 

       As of December 31, 2024  
   Gross Carrying    Accumulated    Intangible  
 (in thousands)   Amount    Amortization    Assets, Net  
 Customer relationships - subject to amortization  $84,459  $(18,513) $65,946 
 Covenant not to compete - subject to amortization   3,229   (1,110)  2,119 
 Technology and know-how - subject to amortization   8,900   (922)  7,978 
 Trade name - not subject to amortization   42,068   -   42,068 
  $138,656  $(20,545) $118,111 

   The Company estimates that amortization expense for its intangible assets subject to amortization will be approximately $5.6 million per year for the next year, $5.1 million the following year and then $4.