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SEGMENT AND GEOGRAPHIC INFORMATION
 6 Months Ended
Jun. 30, 2021
Disclosure of operating segments [abstract]  
SEGMENT AND GEOGRAPHIC INFORMATION SEGMENT AND GEOGRAPHIC INFORMATION
Reportable segments
The Company is organized in five operating and reportable segments, which are components engaged in business activities from which they may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the Company), for which discrete financial information is available and whose operating results are evaluated regularly by the chief operating decision maker “CODM” to make decisions about resources to be allocated to the segment and assess its performance. The Company CODM is the Executive Office comprising the Executive Chairman, Mr. Lakshmi N. Mittal and the CEO, Mr. Aditya Mittal.
ArcelorMittal's operating segments include the attributable goodwill, intangible assets, property, plant and equipment, and certain equity method investments. They do not include cash and short-term deposits, short-term investments, tax assets and other current financial assets. Attributable liabilities are also those resulting from the normal activities of the segment, excluding tax liabilities and indebtedness but including post retirement obligations where directly attributable to the segment. The treasury function is managed centrally for the Company and is not directly attributable to individual operating segments or geographical areas.
ArcelorMittal’s segments are structured as follows:
•NAFTA represents the flat, long and tubular facilities of the Company located in Canada, Mexico and the United States (on December 9, 2020, the Company divested ArcelorMittal USA). NAFTA produces flat products such as slabs, hot-rolled coil, cold-rolled coil, coated steel and plate. These products are sold primarily to customers in the following sectors: automotive, energy, construction, packaging and appliances and via distributors or processors. NAFTA also produces long products such as wire rod, sections, rebar, billets, blooms and wire drawing, and tubular products. The raw material supply of the NAFTA operations includes sourcing from iron ore captive mines in Mexico and iron ore and coal captive mines in the United States (until disposal of ArcelorMittal USA on December 9, 2020 as mentioned above) to supply the steel facilities.
•Brazil includes the flat operations of Brazil, the long and tubular operations of Brazil and neighboring countries including Argentina, Costa Rica and Venezuela. Flat products include slabs, hot-rolled coil, cold-rolled coil and coated steel. Long products consist of wire rod, sections, bar and rebar, billets, blooms and wire drawing. The raw material supply of the Brazil operations includes sourcing from iron ore captive mines in Brazil.
•Europe is the largest flat steel producer in Europe, with operations that range from Spain in the west to Romania in the east, and covering the flat carbon steel product portfolio in all major countries and markets. Europe produces hot-rolled coil, cold-rolled coil, coated products, tinplate, plate and slab. These products are sold primarily to customers in the automotive, general and packaging sectors. Europe also produces long products consisting of sections, wire rod, rebar, billets, blooms and wire drawing, and tubular products. In addition, it includes Downstream Solutions, primarily an in-house trading and distribution arm of ArcelorMittal. Downstream Solutions also provides value-added and customized steel solutions through further steel processing to meet specific customer requirements. The raw material supply of Europe operations includes sourcing from iron ore captive mines in Bosnia & Herzegovina.
•ACIS produces a combination of flat, long and tubular products. Its steel facilities are located in South Africa, Ukraine and Kazakhstan. The raw material supply of the ACIS operations includes sourcing from iron ore captive mines in Kazakhstan and Ukraine and coal captive mines in Kazakhstan.
•Mining segment comprises the mines owned by ArcelorMittal in Canada and Africa (Liberia). It provides the Company's steel operations with high quality and low-cost iron ore reserves and also sells mineral products to third parties.
The following table summarizes certain financial data relating to ArcelorMittal’s operations in its different reportable segments:
NAFTABrazilEuropeACISMiningOthers*EliminationTotal
Six months ended June 30, 2021
Sales to external customers5,755 4,861 19,990 4,170 751 9 — 35,536 
Intersegment sales**23 937 37 726 1,317 7 (3,047)— 
Operating income (loss)936 1,742 1,861 1,458 1,287 (126)(85)7,073 
Depreciation and amortization142 109 615 220 115 20 — 1,221 
Capital expenditures147 139 578 214 97 16 (3)1,188 
Six months ended June 30, 2020
Sales to external customers7,023 2,398 13,428 2,440 524 7 — 25,820 
Intersegment sales**106 409 26 292 607 4 (1,444)— 
Operating (loss) income (452)272 (654)(92)415 (137)42 (606)
Depreciation and amortization292 122 704 239 126 27 — 1,510 
Impairment— — 92 — — — — 92 
Capital expenditures349 101 492 240 52 19 (2)1,251 
*Others include all other operational and non-operational items which are not segmented, such as corporate and shared services, financial activities, and shipping and logistics.
**Transactions between segments are reported on the same basis of accounting as transactions with third parties.
The reconciliation from operating income to net income is as follows:
Six months ended June 30,
20212020
Operating income (loss)7,073 (606)
Income from investments in associates, joint ventures and other investments1,043 127 
Financing costs - net(594)(642)
Income (loss) before taxes7,522 (1,121)
Income tax expense(946)(524)
Net income (loss) (including non-controlling interests)6,576 (1,645)
Geographical segmentation
Sales (by destination)
Six months ended June 30,
20212020
Americas
United States1
3,342 5,466 
Brazil3,971 1,824 
Canada1,844 1,207 
Mexico1,151 778 
Argentina598 260 
Others Americas749 488 
Total Americas11,655 10,023 
Europe
Germany3,019 2,008 
France2,489 1,447 
Poland2,328 1,550 
Spain2,041 1,343 
Italy2,667 1,495 
Turkey669 542 
Czech Republic598 371 
United Kingdom728 460 
Belgium877 693 
Russia863 377 
Netherlands628 447 
Romania228 154 
Ukraine394 191 
Others Europe2,200 1,499 
Total Europe19,729 12,577 
Asia & Africa
South Africa1,202 651 
Morocco325 194 
Egypt26 80 
Rest of Africa456 340 
China397 763 
Kazakhstan370 195 
South Korea264 148 
India91 53 
Rest of Asia1,021 796 
Total Asia & Africa4,152 3,220 
Total35,536 25,820 
1.Prior period include sales from ArcelorMittal USA, which was divested on December 9, 2020.
Product segmentation
The table below presents sales to external customers by product type. In addition to steel produced by the Company, amounts include material purchased for additional transformation and sold through distribution services. Others include mainly non-steel sales, manufactured and specialty steel products, and services.
Sales (by products)
Six months ended June 30,
20212020
Flat products19,418 15,634 
Long products8,380 5,291 
Tubular products1,045 650 
Mining products839 654 
Others5,854 3,591 
Total35,536 25,820 

Disaggregated revenue
The tables below summarize the disaggregated revenue recognized from contracts with customers for the six months ended June 30, 2021 and 2020, respectively:
Six months ended June 30, 2021NAFTABrazilEuropeACISMiningOthersTotal
Steel sales5,594 4,588 17,874 3,470 — — 31,526 
Non-steel sales 1
1 91 861 490 740 — 2,183 
By-product sales 2
43 52 439 67 — — 601 
Other sales 3
117 130 816 143 11 9 1,226 
Total5,755 4,861 19,990 4,170 751 9 35,536 
Six months ended June 30, 2020NAFTABrazilEuropeACISMiningOthersTotal
Steel sales6,669 2,221 12,212 2,085 — — 23,187 
Non-steel sales 1
92 45 269 178 517 — 1,101 
By-product sales 2
43 35 276 45 — — 399 
Other sales 3
219 97 671 132 7 7 1,133 
Total7,023 2,398 13,428 2,440 524 7 25,820 
1.Non-steel sales mainly relate to iron ore, coal, scrap and electricity;
2.By-products sales mainly relate to slag, waste and coke by-products;
3.Other sales are mainly comprised of shipping and other services.