Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 380

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 380
---
 |  -1,208 |     |         105 |     | 10,272 |
| Depreciation and amortization                                             |         -427 |     |   -246 |     | -1,160 |     |            — |     |                 -108 |     |   -234 |     |    -405 |     |           — |     | -2,580 |
| Income from investments inassociates, joint ventures andother investments |            — |     |      — |     |      — |     |        1,317 |     |                    — |     |      — |     |       — |     |           — |     |  1,317 |
| Impairment                                                                |            — |     |      — |     |      — |     |            — |     |                    — |     |      — |     |  -1,026 |     |           — |     | -1,026 |
| Capital expenditures                                                      |          500 |     |    708 |     |  1,028 |     |            — |     |                  223 |     |    488 |     |     528 |     |          -7 |     |  3,468 |

1. Others mainly include holdings and services companies and the Company's operations in Ukraine and South Africa (and in Kazakhstan for the year ended December 31,

2023 and 2022) . Others also include all other operational and non-operational items which are not segmented, such as corporate and shared services, financial activities,

and shipping and logistics.

2. Transactions between segments are reported on the same basis of accounting as transactions with third parties.

229

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

The reconciliation from operating income to net income

(including non-controlling interests) is as follows:

|                                                         | Year ended December 31, 
                    2024 |     |   2023 |     |   2022 |
|:--------------------------------------------------------|------------------------:|:----|-------:|:----|-------:|
| Operating income                                        |                   3,310 |     |  2,340 |     | 10,272 |
| Income from investments inassociates and joint ventures |                     779 |     |  1,184 |     |  1,317 |
| Impairments of equity methodinvestments                 |