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Disclosure of Supplemental Cash Flow Information
 12 Months Ended
Dec. 31, 2012
Cash Flow, Supplemental Disclosures [Text Block]
Olympic Steel, Inc.

Supplemental Disclosures of Cash Flow Information

(in thousands)

   
2012
   
2011
   
2010
 
Cash paid during the period
                 
                   
Interest paid
  $ 7,295     $ 5,081     $ 1,672  
Income taxes paid (refunded)
  $ 6,940     $ 9,159     $ (36,355 )
                         
Details of acquisition
                       
                         
Fair value of CTI assets acquired
  $ -     $ 217,015     $ -  
Fair value of CTI liabilities acquired
    -       57,159       -  
Cash paid
    -       159,856       -  
Less: Cash acquired
    -       11,097       -  
Net cash paid for CTI acquisition
  $ -     $ 148,759     $ -  

The Company incurred a capital lease obligation of $1.6 million when it entered into a lease for its warehouse in Streetsboro, Ohio during the third quarter of 2011.  This non-cash transaction has been excluded from the Consolidated Statements of Cash Flows for the twelve months ended December 31, 2011.