Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 390

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 390
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 and for the cost of

marketing, selling, and distribution. Net realizable value is

estimated based on the most reliable evidence available at the

time the estimates were made of being the amount that the

inventory is expected to realize, taking into account the purpose

for which the inventory is held.

Previous write-downs are reversed in case the circumstances

that previously caused inventories to be written down below cost

no longer exist.

Inventories, net of allowance for slow-moving inventory, excess

of cost over net realizable value and obsolescence of 1,370 and

1,434 as of December 31, 2024 and 2023 , respectively, are

comprised of the following:

|                                               | December 31, |     |        |
|                                               |         2024 |     |   2023 |
| Finished products                             |        4,853 |     |  5,372 |
| Production in process                         |        4,177 |     |  4,741 |
| Raw materials                                 |        5,245 |     |  6,334 |
| Manufacturing supplies, spare parts andother1 |        2,226 |     |  2,312 |
| Total                                         |       16,501 |     | 18,759 |

1. Including spare parts of 1.7billion and 1.7billion , and manufacturing and other

supplies of 0.5billion and 0.6billion as of December 31, 2024 and 2023 ,

respectively.

Movements in the inventory write-downs are as follows:

|                                        | Year ended December 31, 
                    2024 |     |  2023 |     |  2022 |
|:---------------------------------------|------------------------:|:----|------:|:----|------:|
| Inventory write-downs -opening balance |                   1,434 |     | 1,629 |     | 1,023 |
| Additions1                             |                     567 |     |   516 |     |   759 |
| Deductions / Releases2                 |                    -550 |     |  -681 |     |  -136 |
| Foreign exchange and others            |                     -81 |     |   -30 |     |   -17 |
| Inventory write-downs -closing balance |                   1,370 |     | 1,