Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 347

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 347
---
 environment, especially in Europe, it expects restocking activity to supplement real demand improvement in time.

208

| Consolidated financial statements                          |
| (millions of U.S. dollar, except share and per share data) |

1.4 Accounting standards applied 1.4.1 Adoption of new IFRS standards, amendments and interpretations applicable from January 1, 2024 On January 1, 2024, the Company adopted the narrow-scope amendments to IAS 1 which clarify how to classify debt and other liabilities as current or non-current. The amendments aim to promote consistency in applying the requirements by helping companies to determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current. The amendments include clarifications about the classification requirements for debt a company might settle by converting it into equity. In addition, on January 1, 2024, the Company adopted the following amendments: • 'Non-current Liabilities with Covenants (Amendments to IAS 1)' to clarify how conditions with which an entity must comply within twelve months after the reporting period affect the classification of a liability. • Amendments to IFRS 16 ' Leases ' with respect to the lease liability in a sale and leaseback transaction. The amendments require a seller-lessee to subsequently measure lease liabilities arising from a leaseback in a way that it does not recognize any amount of the gain or loss that relates to the right of use it retains. The new requirements do not prevent a seller-lessee from recognizing in profit or loss any gain or loss relating to the partial or full termination of a lease. • 'Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7)' to add disclosure requirements, and ‘signposts’ within existing disclosure requirements, which require entities to provide qualitative and quantitative information about supplier finance arrangements. In particular, entities will have to disclose in the notes information that enables users of financial statements to (i) assess how supplier finance arrangements affect an entity’s liabilities and cash flows and to (ii) understand the effect of supplier finance arrangements on an entity’s exposure to liquidity risk and how the entity might be affected if the arrangements were no longer available to it. The adoption of these amendments did not have a material impact to the Company's consolidated financial statements . The Company has adopted ' International Tax Reform – Pillar Two Model Rules (