Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 183

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 183
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, estimates and assumptions are made may be found in note 1.3 to the consolidated financial statements. Legal proceedings ArcelorMittal is currently and may in the future be involved in litigation, arbitration or other legal proceedings. Provisions related to legal and arbitration proceedings are recorded in accordance with the accounting policies described in note 9.1 to ArcelorMittal’s consolidated financial statements. Please refer to note 9.3 for a description of contingencies, including legal proceedings. Operating results The following discussion and analysis should be read in conjunction with ArcelorMittal’s consolidated financial statements included in this annual report. As from January 1, 2024, ArcelorMittal implemented changes to its organizational structure. India and joint ventures are presented as a new operating segment including the joint ventures AMNS India, VAMA and AMNS Calvert as well as all other associates, joint ventures ("JVs") and other investments; the results of these entities are included in the line “Investments in associates, joint ventures and other investments" and discussed in such section. The segment Sustainable Solutions is composed of a number of niche, capital light businesses playing an important role in supporting climate action (including renewables, special projects and construction business), which were previously reported within the Europe segment and are now reported as a separate operating segment. The NAFTA segment has been renamed North America. Finally, following the sale of the Company’s operations in Kazakhstan, the remaining operations of the former ACIS segment, i.e. ArcelorMittal Kryvyi Rih and ArcelorMittal South Africa, were assigned to Others. Segment disclosures have been recast to reflect this new segmentation in conformity with IFRS. ArcelorMittal reports its operations in six reportable segments: North America, Brazil, Europe, India and JVs, Sustainable Solutions and Mining, with the remainder of its operations in “Others”. The key performance indicators that ArcelorMittal’s management uses to analyze operations are sales, average steel selling prices, crude steel production, steel shipments, iron ore production and operating income. Management’s analysis of liquidity and capital resources is driven by net cash flow from operations and capital expenditures. Years ended December 31, 2024, 2023 and 2022 Sales, operating income, crude steel production, steel shipments, average steel selling prices and mining production The following tables provide a summary of ArcelorMittal’s performance by reportable segment for the years ended December 31, 2024, 2023 and 2022