Company: ZEUS
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001437749-25-032420
Chunk: 5

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 5
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 not subject to amortization   42,068   -   42,068 
  $138,656  $(25,101) $113,555 

       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 $4.8 million, $4.7 million, $3.9 million and $3.9 million respectively, over the next four years. Amortization expense for intangible assets was $1.5 million and $4.6 million, respectively, for the three and nine months ended  September 30, 2025. Amortization expense for intangible assets was $1.1 million and $3.3 million, respectively, for the three and nine months ended  September 30, 2024.

       6. 
       Leases: 

   The components of lease expense were as follows:

        For the Three Months 

        For the Nine Months 

        Ended September 30, 

        Ended September 30, 

        (in thousands) 
        
        2025 

        2024 

        2025 

        2024 

        Operating lease cost 
        
       $
       2,443

       $
       2,111

       $
       7,174

       $
       6,660

        Finance lease cost: 

        Amortization of right-of-use assets 
        
       $
       221

       $
       331