Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 187

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 187
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 following the termination of the Monlevade expansion project in Brazil and $ 36 million in connection with the closure of the Kraków coke plant in Poland. Cost of sales for the year ended December 31, 2024 also included $216 million of restructuring charges, including $74 million relating to the Europe segment, $79 million relating to Sustainable Solutions and $63 million related to the announced wind down of the Longs Business in ArcelorMittal South Africa. Cost of sales for the year ended December 31, 2023 included $1.5 billion foreign exchange translation losses and impairment charges of $0.9 billion in connection with the sale of ArcelorMittal's Kazakhstan operations, t he Company's steel and mining operations in Kazakhstan, of which $0.7 billion impairment of property, plant and equipment and $0.2 billion impairment of former ACIS goodwill. Cost of sales for the year ended December 31, 2023 also included $0.1 billion impairment of property, plant and equipment of the Long operations of ArcelorMittal South Africa . Cost of sales for the year ended December 31, 2022 included a $1.0 billion impairment charge relating to ArcelorMittal Kryviy Rih’s property, plant and equipment due to the significant uncertainty about the evolution of the geopolitical context in Ukraine and the timing and ability for the Company to resume operations to a normal level. Cost of sales for the year ended December 31, 2022 also included $0.5 billion of inventory related charges to reflect the net realizable value of inventory with declining market prices in Europe, partially offset by a $0.1 billion bargain purchase gain on the acquisition of ArcelorMittal Texas HBI and a $0.1 billion gain following the settlement of a claim by ArcelorMittal for a breach of a supply contract. For the years ended December 31, 2024, 2023, and 2022, cost of sales included the following energy costs :

| in millions of USD         |  2024 |  2023 |  2022 |
| Electricity for production | 2,736 | 3,129 | 4,360 |
| Natural and other gases    | 1,498 | 1,887 | 3,326 |
| Other energy and utilities | 1,624 | 1,799 | 1,902 |
| Total                      | 5,858 | 6,815 | 9