Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 359

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 359
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 of ArcelorMittal Temirtau, its steel and mining operations in Kazakhstan, to Qazaqstan Investment Corporation ("QIC"), a state-controlled direct investment fund. Under the terms of the transaction, on closing ArcelorMittal received consideration of 286 ( 254 net of cash disposed of 24 and 8 transaction costs) for net assets and a further 250 as repayment of outstanding intra- group receivables. ArcelorMittal will also receive an additional sovereign-fund guaranteed payment of 450 , paid in four equal annual installments, as repayment of an intra-group loan. All ArcelorMittal Temirtau assets were transferred on an ‘as is’ operational basis, meaning QIC assumed control and accountability for ArcelorMittal Temirtau’s operations. As a result of loss of control, the Company derecognized assets and liabilities of 1,650 and 1,372 , respectively. ArcelorMittal recognized in cost of sales a 732 impairment loss of property, plant and equipment upon measuring the recoverable amount based on sales proceeds (see note 5.3). The Company also recognized in cost of sales a 194 impairment loss of goodwill following the allocation to the disposal group of a portion of the former ACIS segment goodwill in proportion of the consideration received to the total recoverable amount of the former ACIS operations (see notes 3.1, 5.1 and 5.3). In addition, it reclassified 1,469 of foreign exchange translation losses from

216

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

other comprehensive income to cost of sales in the consolidated

statements of operations.

The table below summarizes the significant divestments

completed in 2023 (there were no divestments in 2024 and

2022):

|                                                |                  2023 |
|                                                | ArcelorMittalTemirtau |
| Cash and cash equivalents                      |                    24 |
| Other current assets                           |                   645 |
| Intangible assets                              |                     — |
| Property, plant and equipment                  |                   972 |
| Other assets                                   |                     9 |
| Total assets                                   |                 1,650 |
| Current liabilities                            |                   882 |
| Other long-term liabilities                    |                   490 |
| Total liabilities                              |                 1,372 |
| Total net assets                               |                   278 |
| % of net