Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 384

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 384
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-product sales2            |           97 |     |    125 |     |  1,256 |     |                  141 |     |      — |     |    173 |     |  1,792 |
| Other sales3                 |          332 |     |    482 |     |  1,375 |     |                  227 |     |     31 |     |    272 |     |  2,719 |
| Total                        |       13,716 |     | 11,929 |     | 34,816 |     |               12,199 |     |  1,305 |     |  5,879 |     | 79,844 |

1. Non-steel sales mainly relate to iron ore, coal, scrap and electricity.

2. By-product sales mainly relate to slag, waste and coke by-products.

3. Other sales are mainly comprised of shipping and other services.

NOTE 4: OPERATING DATA 4.1 Revenue The Company’s revenue is derived from the single performance obligation to transfer primarily steel and mining products under arrangements in which the transfer of control of the products and the fulfillment of the Company’s performance obligation occur at the same time. Revenue from the sale of goods is recognized when the Company has transferred control of the goods to the buyer and the buyer obtains the benefits from the goods, the potential cash flows and the amount of revenue (the transaction price) can be measured reliably, and it is probable that the Company will collect the consideration to which it is entitled to in exchange for the goods. Whether the customer has obtained control over the asset depends on when the goods are made available to the carrier or the buyer takes possession of the goods, depending on the delivery terms. For the Company’s steel producing operations, generally the criteria to recognize revenue has been met when its products are delivered to its customers or to a carrier who will transport the goods to its customers, this is the point in time when the Company has completed its performance obligations. Revenue is measured at the transaction price of the consideration received or receivable, the amount the Company expects to be entitled to. Additionally, the Company identifies when goods have left its premises, not when the customer receives the goods. Therefore, the Company estimates, based on its historical experience, the amount of goods in-transit when the transfer of control occurs at the destination and defers the revenue recognition. The Company’s products must meet customer specifications. A certain portion of the Company’s