Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 413

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 413
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 |     | RecoverableAmount (Valuein Use) |     | TotalImpairmentRecorded |     | 2023 Pre-TaxDiscount Rate |     | 2022 Pre-TaxDiscount Rate |     | Carrying Amount ofproperty, plant andequipment as ofDecember 31, 2023 |
|:---------------------------|:----|:-------------|:----|--------------------------------:|:----|------------------------:|:----|:--------------------------|:----|:--------------------------|:----|----------------------------------------------------------------------:|
| Long Products South Africa |     | South Africa |     |                             264 |     |                     112 |     | 17.3%                     |     | 17.5%                     |     |                                                                    86 |

2022 In 2022, the Company recognized a 1,026 impairment charge related to property, plant and equipment ( 1,020 ) and intangibles ( 6 ) with respect to AMKR (Ukraine) as a result of the ongoing conflict in Russia, which resulted in low level of production, sales and net income and created significant uncertainty about the timing and ability of operations to return to a normal level of activity. Adverse geopolitical conditions, which resulted in a substantial increase in the discount rate applied by the Company in its recoverable amount (value in use) calculation, deteriorated further during the fourth quarter of 2022 following attacks against Ukrainian power infrastructures causing additional operational issues for AMKR and the concerns about an intensification of the conflict in connection with the announcements of delivery of heavy military equipment by western countries. The Company applied separate discount rates over the discrete projections period, including a higher country risk premium for 2023 cash flow projections and a return to pre-war country risk premium in the course of 2024 and for

246

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

the terminal value calculation as value in use is sensitive to a

difference in country risk for different periods.

| Cash-Generating Unit |     | Region  |     | Applied to2023projections | RecoverableAmount(Value in Use) | Applied tosubsequentprojections | TotalImpairmentRecorded |     | 2022 Pre-Tax Discount Rates |     |       |     | 2021 Pre-TaxDiscount Rate |     | Carrying amount ofproperty, plant andequipment as ofDecember 31, 2022 |
|:---------------------|: