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Published: 2024-04-08 06:13:41 ET
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EX-99.1 2 tm249568d3_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

 

CAPITALIZATION AND INDEBTEDNESS

 

The following table sets out the consolidated capitalization and indebtedness of ArcelorMittal as of December 31, 2023. You should read this table together with the Group’s consolidated financial statements and other financial data appearing in its annual report on Form 20-F for the year ended December 31, 2023.

 

   As of December 31, 2023 
(amounts in U.S.$ millions)  Actual 
Short-term debt and current portion of long-term debt    2,312 
Secured and Unguaranteed    381 
Guaranteed and Unsecured    119 
Secured and Guaranteed    0 
Unsecured/Unguaranteed    1,812 
Long-term debt, net of current portion    8,369 
Secured and Unguaranteed    948 
Guaranteed and Unsecured    114 
Secured and Guaranteed    0 
Unsecured/Unguaranteed    7,306 
Non-controlling interests    2,107 
Equity attributable to the equity holders of the parent    53,961 
Common shares    303 
Treasury shares    (849)
Additional paid-in capital    27,185 
Retained earnings    46,264 
Reserves(a)    (18,942)
Total shareholders’ equity    56,068 
Total capitalization (Total shareholder’s equity plus Short-term debt plus Long-term debt)    66,750 

 

(a) Includes foreign currency translation adjustments of -$18.4 billion, unrealized gains on derivative financial instruments relating to CFH (Cash Flow Hedge) of $2.0 billion, unrealized losses on investments in equity instruments at fair value through other comprehensive income of $4 million, and recognized actuarial losses of $2.5 billion.

 

Except as disclosed herein, there have been no material changes in the consolidated capitalization and indebtedness and contingent liabilities of ArcelorMittal since December 31, 2023.

 

 

 

During the period January 1, 2024 to April 8, 2024, ArcelorMittal has repurchased 22.5 million shares for total consideration of approximately $600 million, in accordance with its announced share buyback program.

 

During the period January 1, 2024 to April 8, 2024, total short-term debt and current portion of long-term debt decreased following the repayment of €529 million of bonds maturing on January 17, 2024.

 

During the period January 1, 2024 to April 8, 2024, ArcelorMittal guaranteed an additional $86 million of debt of its operating subsidiaries.

 

As of December 31, 2023, ArcelorMittal had $5.4 billion of indebtedness available to be drawn under a revolving credit facility, all of which would be unsecured.

 

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