Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 457

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 457
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 22.89 |
| Granted                       |     1,636,575 |     |           25.33 |     |                1,906,781 |     |           23.70 |
| Exited                        |      -635,276 |     |           32.54 |     |                 -565,731 |     |           19.44 |
| Forfeited                     |      -130,724 |     |           28.21 |     |                 -342,841 |     |           21.74 |
| Outstanding, December 31,2024 |     3,628,375 |     |           25.90 |     |                4,292,511 |     |           23.79 |

NOTE 9: PROVISIONS, CONTINGENCIES AND COMMITMENTS ArcelorMittal recognizes provisions for liabilities and probable losses that have been incurred when it has a present legal or constructive obligation as a result of past events, it is probable that the Company will be required to settle the obligation and a reliable estimate of the amount of the obligation can be made. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, where appropriate, the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognized as a financing cost. Future operating expenses or losses are excluded from recognition as provisions as they do not meet the definition of a liability. Contingent assets and contingent liabilities are excluded from recognition in the consolidated statements of financial position. Provisions for onerous contracts are recorded in the consolidated statements of operations when it becomes known that the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received. Assets dedicated to the onerous contracts are tested for impairment before recognizing a separate provision for the onerous contract. Provisions for restructuring are recognized when and only when a detailed formal plan exists and a valid expectation in those affected by the restructuring has been raised, by starting to implement the plan or announcing its main features.

288

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

ArcelorMittal records asset retirement obligations (“ARO”) initially at the fair value of the legal or constructive obligation in the period in which it is incurred and capitalizes the ARO by increasing the carrying amount of the related non-current asset. The fair value