Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 332

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 332
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 2025 expressed an unqualified opinion thereon.

Basis for Opinion

These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an

opinion on the Company’s consolidated financial statements based on our audits. We are a public accounting firm registered with the

PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the

applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit

to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to

error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial

statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining,

on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included

evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall

presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matters

The critical audit matters communicated below are matters arising from the current period audit of the consolidated financial statements

that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are

material to the consolidated financial statements and (2) involved our especially challenging, subjective or complex judgments. The

communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole,

and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the

accounts or disclosures to which they relate.

192

Impairment of Goodwill, Intangible Assets and Property, Plant and Equipment

| Description of theMatter | The goodwill, property, plant and equipment (“PP&E”) and intangible assets balances of theCompany as of December 31, 2024, were $3,605 million, $33,311 million and $848 million,respectively.As explained in Note 5.3 to the consolidated financial statements, the Company reported noimpairment of goodwill, while an impairment of $116 million was recognized for PP&E during2024.As explained in Note 5.3 to the consolidated financial statements