Company: ZEUS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001437749-25-004742
Chunk: 398

Company: OLYMPIC STEEL INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 398
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 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  
 (in thousands)   Level 1    Level 2    Level 3    Total  
 Assets:                 
 Metal swaps  $-  $4,458  $-  $4,458 
 Embedded customer derivatives  $-  $766  $-  $766 
 Fixed interest rate hedge  $-  $55  $-  $55 
 Supplemental executive retirement plan  $11,617  $-  $-  $11,617 
 Total assets at fair value  $11,617  $5,279  $-  $16,896 
                 
 Liabilities:                 
 Metal swaps  $-  $5,224  $-  $5,224 
 Total liabilities recorded at fair value  $-  $5,224  $-  $5,224 

   The value of the items not recorded at fair value represent the carrying value of the liabilities.
    
   The carrying value of the ABL Credit Facility was $272.5 million and $190.2 million at  December 31, 2024 and 2023, respectively. Management believes that the ABL Credit Facility’s carrying value approximates its fair value due to the variable interest rate on the ABL Credit