Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 388

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 388
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 receivables remain consistent with historical levels and the Company did not identify any expected increased risk of default.

233

| Consolidated financial statements                          |
| (millions of U.S. dollar, except share and per share data) |

Trade accounts receivable and allowance for lifetime expected

credit losses

|                                               | December 31, |     |       |
|                                               |         2024 |     |  2023 |
| Gross amount                                  |        3,685 |     | 4,025 |
| Allowance for lifetime expected credit losses |         -310 |     |  -364 |
| Total                                         |        3,375 |     | 3,661 |

The carrying amount of the trade accounts receivable and other

approximates their fair value. Before granting credit to any new

customer, ArcelorMittal uses an internally developed credit

scoring system to assess the potential customer’s credit quality

and to define credit limits by customer. For all significant

customers, the credit terms must be approved by the credit

committees of each reportable segment. Limits and scoring

attributed to customers are reviewed periodically. There are no

customers who represent more than 5% of the total balance of

trade accounts receivable.

Exposure to credit risk by reportable segment

The maximum exposure to credit risk for trade accounts

receivable by reportable segment and others is as follows:

|                       | December 31, |     |       |
|                       |         2024 |     |  2023 |
| North America         |          313 |     |   337 |
| Brazil                |        1,051 |     | 1,400 |
| Europe                |        1,220 |     |   988 |
| Sustainable Solutions |          538 |     |   599 |
| Mining                |           62 |     |    73 |
| Others                |          191 |     |   264 |
| Total                 |        3,375 |     | 3,661 |

Aging of trade accounts receivable

|                     | December 31, |     |           |     |       |     | December 31, |     |           |     |       |
|                     |         2024 |     |           |     |       |     |         2023 |     |           |     |       |
|                     |        Gross |     | Allowance |     | Total |     |