Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 486

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 486
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 292) recognition related to higher future

profits expectation.

The 2022 net change in measurement of deferred tax assets of

( 1,154) mainly consists of recognition of deferred tax assets in

Luxembourg of ( 1,227) including mainly ( 676) effect of the

utilization of unrecognized tax losses carried forward following

higher profitability of the current year (net of write-downs of

shares), ( 579) recognition of tax losses carried forward based

on revised taxable income forecast, derecognition of deferred

tax assets on losses and deductible temporary differences in

Ukraine of 178 , and ( 105) utilization of deferred tax assets in

other tax jurisdictions, following profits generated during the

year.

Tax effects of foreign currency translation

The tax effects of foreign currency translation of ( 21) , ( 20) and

( 34) at December 31, 2024 , 2023 and 2022, respectively, refer

mainly to deferred tax assets and liabilities of certain entities

with a different functional currency than the currency applied for

tax filing purposes.

Tax credits

The tax credits are mainly attributable to the Company’s

operating subsidiaries in Brazil. They relate to credits claimed

on foreign investments, credits for research and development

and other credits.

Other taxes

Other taxes mainly include withholding taxes on dividends,

services, royalties and interests as well as mining duties in

Canada and Mexico, state tax, Corporate Alternative Minimum

Tax ("CAMT"), Base Erosion and Anti-Abuse Tax ("BEAT") in the

United States, and Cotisation sur la Valeur Ajoutée des

Entrepris es ("CVAE'') in France.

| Others                        | Year ended December 31, 
                    2024 |     | 2023 |     | 2022 |
|:------------------------------|------------------------:|:----|-----:|:----|-----:|
| Tax contingencies/settlements |                     263 |     |   43 |     |   -3 |
| Prior period taxes            |                     -10 |     |   -4 |     |   14 |
| Others                        |                      -3 |     |   -9 |     |    7 |
| Total                         |                     250 |     |   30 |     |   18 |

Tax contingencies/settlements of 263 , 43 , and ( 3) at

December 31,