Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 441

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 441
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                                        |
|:----------------|------------------:|:----|---------------------------------------:|
|                 |     Income (loss) |     | Other Equity Cash FlowHedging Reserves |
| '+10%in prices  |                   |     |                                        |
| Base Metals     |                -1 |     |                                     18 |
| Iron Ore        |                -2 |     |                                      4 |
| Freight         |                 — |     |                                      3 |
| Emission rights |               -12 |     |                                      — |
| Energy          |                 — |     |                                     71 |
| '-10%in prices  |                   |     |                                        |
| Base Metals     |                 1 |     |                                    -18 |
| Iron Ore        |                 2 |     |                                     -4 |
| Freight         |                 — |     |                                     -3 |
| Emission rights |                12 |     |                                      — |
| Energy          |                 — |     |                                    -71 |

269

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

NOTE 7: LEASES

As a lessee, the Company assesses if a contract is or contains

a lease at inception of the contract. A contract is or contains a

lease if the contract conveys the right to control the use of an

identified asset for a period of time in exchange for

consideration.

The Company recognizes a right-of-use asset and a lease

liability at the commencement date, except for short-term leases

of twelve months or less and leases for which the underlying

asset is of low value, which are expensed in the consolidated

statement of operations on a straight-line basis over the lease

term.

The lease liability is initially measured at the present value of the

lease payments that are not paid at the commencement date,

discounted using the interest rate implicit in the lease, or, if not

readily determinable, the incremental borrowing rate specific to

the country, term and currency of the contract. Lease payments

can include fixed payments, variable payments that depend on

an index or rate known at the commencement date, as well as

any extension or purchase options, if the Company is

reasonably certain to exercise these options. The lease liability

is subsequently measured at amortized cost using the effective

interest method and remeasured with a corresponding

adjustment to the related right-of-use asset when there is