Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 409

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 409
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.8 |     | 17.4 |     |  23.0 |
| 1Rates for AMKR are blended and include distinct country risk premiums reflecting differentiated pre-war and post-war conditions. |              |     |        |     |        |     |                      |     |      |     |       |

244

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

Once recognized, impairment losses for goodwill are not reversed. There were no impairment charges recognized with respect to goodwill following the Company’s impairment tests as of October 1, 2024 and October 1, 202 3. In 2023, in connection with the sale of ArcelorMittal Temirtau, the Company recognized a 194 impairm ent loss relating to a portion of the former ACIS segment goodwill allocated to the disposal group in proportion of the total sale consideration to the recoverable amount of the remaining former ACIS operations in Ukraine and South Africa. The total value in use calculated for all GCGUs increased overall in 2024 as compared to 2023 primarily as a result of higher cash flow projections in North America. In validating the value in use determined for the GCGUs, the Company performed a sensitivity analysis of key assumptions used in the discounted cash-flow model (such as discount rates, average selling prices and shipments) and believes that reasonably possible changes in key assumptions could cause an impairment loss to be recognized in respect of AMSA GCGU and AMKR CGU. Following the announcement of the wind down of long steel operations (see below), AMSA's operations encompass flat steel operations at the Vanderbijlpark site supported by a metallurgical by-products division. Sales are mainly domestic but they are exposed to international steel prices which are volatile, reflecting the cyclical nature of the global steel industry, developments in particular steel consuming industries and macroeconomic trends of emerging markets, such as economic growth. The Company believes that sales volumes, prices and discount rates are the key assumptions most sensitive to change. See also note 1.3 for AMKR. The AMSA and AMKR value in use models anticipate higher sales volumes in 2025 as compared to 2024 ( 1.4 million tonnes for the year ended December 31, 2024) and in 2026 as compared to 2024 ( 1.5 million tonnes for the year ended December 31, 2024 ), respectively, followed by a relative stability