Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 412

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 412
---
, the Company recognized a 36 impairment charge of property, plant and equipment in connection with the definitive closure of the Kraków coke plant in Poland which was announced on July 19, 2024. The Company reviewed impairment reversal indicators on assets previously impaired. It concluded that there was a significant change with a positive effect resulting in an impairment reversal indicator with respect to its iron ore expansion project in Liberia, which was restarted in 2021 and for which the first concentrate was produced in the fourth quarter of 2024 with full 20 million tonnes capacity expected by the end of 2025. The Company performed a value in use calculation as well as a sensitivity analysis and, in addition to the fact that the project is not yet fully operational, it concluded that no impairment reversal should be recognized in relation to the 1,426 impairment charge of property, plant and equipment and intangible assets recognized in 2015. The Company did not identify indicator of impairment reversal for any other assets. The following changes in key assumptions in projected earnings of AML throughout the life of mine, assuming unchanged values for the other assumptions, would cause the recoverable amount to equal the carrying amount at December 31, 2024:

|                                                            |  AML |
| Excess of recoverable amount over carrying amount          |  135 |
| Increase in pre-tax discount rate (change in basis points) |  109 |
| Decrease in average selling price (change in %)            | 2.3% |
| Decrease in shipments (change in %)                        | 4.2% |

2023 In 2023, ArcelorMittal recognized a 732 impairment charge related to property, plant and equipment with respect to the sale on December 7, 2023 of its Kazakhstan operations in the former ACIS segment to Qazaqstan Investment Corporation, a state- controlled direct investment fund. The impairment loss resulted from the adjustment of the carrying amount of the disposal group to the net sales proceeds of 278 (see note 2.3). On November 28, 2023, AMSA announced that it contemplates the wind down of its Longs Business subject to a due diligence and a consultative process involving key customers, suppliers, organized labour, and other stakeholders. The Company assessed the recoverable amount of its Longs Business in South Africa based on a value in use calculation and recognized accordingly a 112 impairment charge of property, plant and equipment.

| Cash Generating Unit       |     | Region