Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 442

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 442
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 a

change in future lease payments in case of renegotiation,

changes of an index or rate or in case of reassessments of

options.

The right-of-use asset comprises, at inception, the initial lease

liability, any initial direct costs and, when applicable, the

obligations to refurbish the asset, less any incentives granted by

the lessors. The right-of-use asset is subsequently depreciated

on a straight-line basis to the earlier end of its estimated useful

life or the end of the lease term or to the end of the estimated

useful life of the underlying asset, if the lease transfers the

ownership of the underlying asset to the Company at the end of

the lease term or if the cost of the right-of-use asset reflects that

the lessee will exercise a purchase option. Right-of-use assets

are also subject to testing for impairment if there is an indicator

that they may be impaired.

Variable lease payments not included in the measurement of the

lease liabilities are expensed to the consolidated statement of

operations in the period in which the events or conditions which

trigger those payments occur.

In the statement of financial position, right-of-use assets and

lease liabilities are classified, respectively, as part of property,

plant and equipment and short-term/long-term debt.

Balances for the Company’s lease activities are summarized as follows:

|                                                                                                      |     As at December31, 2024 |     |     As at December31, 2023 |
|:-----------------------------------------------------------------------------------------------------|---------------------------:|:----|---------------------------:|
| Lease liabilities                                                                                    |                      1,034 |     |                      1,146 |
| Right of-use assets:                                                                                 |                            |     |                            |
| Land, buildings and improvements                                                                     |                        869 |     |                        944 |
| Machinery, equipment and others                                                                      |                        371 |     |                        400 |
| Total right-of-use assets                                                                            |                      1,240 |     |                      1,344 |
|                                                                                                      | Year endedDecember 31,2024 |     | Year endedDecember 31,2023 |
| Depreciation and impairment charges:                                                                 |                            |     |                            |
| Land, buildings and improvements                                                                     |                        150 |     |                        154 |
| Machinery, equipment and others                                                                      |                         77 |     |                         81 |
| Total depreciation and impairment charges                                                            |                        227 |     |                        235 |
| Other lease related