Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 374

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 374
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 |     |                56 |     |            81 |     |   137 |
| Other comprehensive income (loss)                             |     |                 3 |     |            12 |     |    15 |     |                 4 |     |            -2 |     |     2 |
| Total comprehensive income (loss)                             |     |                19 |     |           152 |     |   171 |     |                60 |     |            79 |     |   139 |

2.4.4 Impairment of associates and joint ventures In the fourth quarter of 2023, Acciaierie d'Italia's financial condition has deteriorated due in particular to the continued high cost of energy and the repeal of relief measures for energy- intensive companies. It has been experiencing liquidity issues, which have resulted in conflicts with suppliers. ArcelorMittal, the Italian Government and Invitalia discussed the terms and conditions of a possible support to Acciaierie d'Italia to address its short-term cash needs and the funding requirements to enable it to complete the acquisition of Ilva’s business units but the parties were not able to reach agreement on how to address Acciaierie d'Italia’s funding needs. As of December 31, 2023 t he Company assessed the above facts as indicators of impairment with respect to its investment, further confirmed by the extraordinary administration of Acciaierie d'Italia effective February 20, 2024 (see note 2.4.1), and performed accordingly a value in use calculation resulting in a 1,405 impairment loss . The Company is not aware of any material contingent liabilities related to associates and joint ventures for which it is severally liable for all or part of the liabilities of the associates, nor are there any contingent liabilities incurred jointly with other investors. See note 9.4 for disclosure of commitments related to associates and joint ventures. 2.4.5 Investments in joint operations The Company had investments in the following joint operations as of December 31, 2024 and 2023: Peña Colorada Peña Colorada is an iron ore mine located in Mexico in which ArcelorMittal holds a 50.00% interest. Peña Colorada operates an open pit mine as well as concentrating facility and two-line pelletizing facility. Peña Colorada is part of the North America segment. 2.5 Other investments Other investments include those investments in equity instruments for which the Company