Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 411

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 411
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 In certain instances, the CGU is an integrated manufacturing facility which may also be an operating subsidiary. Further, a manufacturing facility may be operated in concert with another facility with neither facility generating cash inflows that are largely independent from the cash inflows of the other. In this instance, the two facilities are combined for purposes of testing for impairment. As of December 31, 2024 and December 31, 2023, the Company determined it ha s 45 and 46 c ash-generating units, respectively. An impairment loss, related to intangible assets other than goodwill and tangible assets recognized in prior years is reversed if, and only if, there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. However, the increased carrying amount of an asset due to a reversal of an impairment loss will not exceed the carrying amount that would have been determined (net of amortization or depreciation) had no impairment loss been recognized for the asset in prior years. A reversal of an impairment loss is recognized immediately as part of operating income in the consolidated statements of operations.

245

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

Impairment charges and reversals relating to property, plant and equipment and intangibles (excluding goodwill) were as follows for the years ended December 31, 2024 , 2023 and 2022 : 2024 In 2024, the Company recognized a 37 impairment charge of property, plant and equipment with respect to its Longs Business in South Africa, which will be placed into care and maintenance subject to a consultation process, following the announcement of its wind down on January 6 , 2025. The wind- down was postponed for one additional month as discussions continue regarding potential governmental support. On February 28, 2025, ArcelorMittal South Africa announced that it will implement the final wind down of the Longs Business. It is envisaged that the shutdown of the blast furnaces will commence in the first week of March, with the last steel produced in late-March or early-April 2025. The final wind down into care and maintenance will be fully implemented in the second quarter of 2025. ArcelorMittal also recognized a 43 impairment charge of property, plant and equipment for assets measured at fair value less cost of disposal following the termination of the Monlevade expansion project in Brazil. In addition