Company: MT
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001243429-25-000067
Chunk: 51

Company: ArcelorMittal
Filing Date: 2025-08-01
Form: 6-K
Chunk 51
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 of write-downs of inventories to net realizable value and slow moving items recognized as an expense are 260and 365during the six months ended June 30, 2025 and 2024, respectively.

| Interim Financial Statements |     | 37 |

Notes to the interim condensed consolidated financial statements for the six months ended June 30, 2025 (in millions of U.S. dollar, except share and per share data)

NOTE 3 – ACQUISITIONS

On June 18, 2025, pursuant to an equity purchase agreement dated October 11, 2024 between ArcelorMittal and Nippon Steel Corporation ("NSC") with respect to their joint venture AMNS Calvert ("Calvert"), in connection with the proposed acquisition of U.S. Steel by NSC with respect to an agreement dated December 18, 2023 and approved by the U.S. administration on June 13, 2025, ArcelorMittal acquired control of Calvert following the acquisition of NSC's 50% stake. The flat steel processing facility based in Calvert, Alabama (United States) has a hot strip mill, pickling and cold rolling facilities and finishing facilities with 5.3, 3.6and 2.1million tonnes capacity, respectively. The cash consideration paid by the Company to acquire NS Kote Inc., which holds the 50% interest in Calvert (in addition to 638cash injected by NSC to repay debt of Calvert at acquisition date and 248shareholder loan forgiven by NSC) was 1U.S. dollar (cash acquired of 263). The acquisition also includes a new seven-yeardomestic slab supply agreement with NSC averaging 750,000tonnes per year. Net settlement of preexisting relationships amounted to 452(including 248of shareholder loan, 106of trade payables and 105of dividend payable). ArcelorMittal incurred 2 acquisition-related costs recognized in selling, general and administrative expenses, The Company remeasured its previously held 50% equity interest in Calvert at its acquisition-date fair value and recognized the resulting 13gain in income from joint ventures, associates and other investments. The acquisition-date fair value of identifiable assets and liabilities has been measured on a provisional basis at June 30, 2025. The Company intends to complete such measurement during the second half of 2025. The fair value of acquired receivables was 472. The Company