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OPERATING DATA (Tables)
 12 Months Ended
Dec. 31, 2021
Revenue, Cost Of Sales, Current Assets, And Current Liabilities [Abstract]  
Schedule of Movements in Trade and Other Receivables
The tables below summarize the movements relating to the Company's trade receivable and other for the years ended December 31, 2021, 2020 and 2019
Year ended December 31,
202120202019
Trade accounts receivable and other - opening balance3,072 3,569 4,432 
Performance obligations satisfied76,571 53,270 70,615 
Payments received(74,036)(53,194)(71,559)
Impairment of receivables (net of write backs and utilization)(69)(16)9 
Reclassification of the period-end receivables from /(to) held for sale and recognition (derecognition) of receivables related to business combination and divestments 2
182 (724)— 
Acquisitions through business combination— — 4 
TSR receivables retained in ArcelorMittal USA divestment 1
(260)260 — 
Foreign exchange and others(317)(93)68 
Trade accounts receivable and other - closing balance5,143 3,072 3,569 
1.See note 6.1.3
2.Includes mainly receivables from the joint venture Acciaierie d'Italia. See note 2.3.1.
Schedule of Cost of Sales
Cost of sales includes the following components:
 Year ended December 31,
 202120202019
Materials42,737 34,599 47,809 
Labor costs6,886 7,690 9,094 
Logistic expenses3,931 3,474 4,951 
Depreciation and amortization2,523 2,960 3,067 
Net impairment (reversal)/charges (see note 5.3)(218)(133)1,927 
Gain on AM USA disposal 1
— (1,460)— 
Other1,478 2,008 2,039 
Total57,337 49,138 68,887 
1. See note 2.3.1 for details
Schedule of Trade Accounts Receivable and Allowance for Expected Credit Losses
 December 31,
 20212020
Gross amount5,349 3,208 
Allowance for lifetime expected credit losses(206)(136)
Total5,143 3,072 
Exposure to Credit Risk by Reportable Segment
The maximum exposure to credit risk for trade accounts receivable by reportable segment is as follows:
 December 31,
 20212020
NAFTA 330 455 
Brazil1,308 809 
Europe2,959 1,396 
ACIS444 190 
Mining102 222 
Total5,143 3,072 
Aging of Trade Accounts Receivable
Aging of trade accounts receivable
 December 31,December 31,
 20212020
 GrossAllowance TotalGrossAllowance Total
Not past due4,280 (30)4,250 2,699 (13)2,686 
Overdue 1-30 days322 (1)321 215 (1)214 
Overdue 31-60 days80 — 80 49 (1)48 
Overdue 61-90 days121 — 121 26 — 26 
Overdue 91-180 days210 (2)208 42 (3)39 
More than 180 days336 (173)163 177 (118)59 
Total5,349 (206)5,143 3,208 (136)3,072 
Movement in the Allowance for Lifetime Expected Credit Losses The allowances in respect of trade accounts receivable during the periods presented are as follows:
Year ended December 31,
202120202019
Allowance - opening balance136 129 173 
Additions87 27 18 
Write backs / utilization (18)(11)(27)
Foreign exchange and others1 (9)(35)
Allowance - closing balance206 136 129 
Schedule of Inventories
Inventories, net of allowance for slow-moving inventory, excess of cost over net realizable value and obsolescence of 1,023 and 1,079 as of December 31, 2021 and 2020, respectively, are comprised of the following:
 December 31,
 20212020
Finished products5,743 3,403 
Production in process5,101 3,305 
Raw materials7,137 3,839 
Manufacturing supplies, spare parts and other 1
1,877 1,781 
Total19,858 12,328 
1.Including spare parts of 1.4 billion and 1.4 billion, and manufacturing and other supplies of 0.5 billion and 0.4 billion as of December 31, 2021 and 2020, respectively.
Movement in Inventory Reserve
Movements in the inventory write-downs are as follows:
Year ended December 31,
202120202019
Inventory write-downs - opening balance1,079 1,760 1,168 
Additions 1
178 294 726 
Deductions / Releases 2
(236)(878)(212)
Foreign exchange and others3
2 (97)78 
Inventory write-downs - closing balance1,023 1,079 1,760 
1.Additions refer to write-downs of inventories excluding those utilized or written back during the same financial year.
2.Deductions/releases correspond to write-backs and utilizations related to the prior periods.
3.In 2021, others include inventory write-downs relating to the plate operations in Europe following discontinuation of held for sale classification (see note 2.3.2).
Schedule of Prepaid Expenses and Other Current Assets
December 31,
20212020
VAT receivables986 752 
Prepaid expenses and non-trade receivables566 486 
Financial amounts receivable108 94 
Income tax receivable106 51 
Receivables from public authorities127 143 
Receivables from sale of financial and intangible assets48 78 
Derivative financial instruments (notes 6.1 and 6.3)2,985 353 
CO2 emission rights
458 219 
Other 1
183 105 
Total5,567 2,281 
1.Other includes mainly advances to employees, accrued interest and other miscellaneous receivables.
Schedule of Other Assets
Other assets consisted of the following:
 December 31,
 20212020
Derivative financial instruments (notes 6.1 and 6.3)318 324 
Financial amounts receivable411 503 
Long-term VAT receivables179 156 
Cash guarantees and deposits94 86 
Receivables from public authorities60 41 
Accrued interest29 30 
Receivables from sale of financial and intangible assets150 172 
Income tax receivable61 18 
Other 1
159 152 
Total1,461 1,482 
1.Other mainly includes assets in pension funds and other amounts receivable
Schedule of Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities were comprised of the following:
December 31,
20212020
Accrued payroll and employee related expenses1,545 1,238 
Accrued interest and other payables1,207 1,151 
Payable from acquisition of intangible, tangible & financial assets1
867 847 
Other amounts due to public authorities833 680 
Derivative financial instruments (notes 6.1 and 6.3)316 208 
Unearned revenue and accrued payables63 73 
Total4,831 4,197 
1.At December 31, 2021, payable from acquisition of intangible, tangible & financial assets included 252 relating to the ArcelorMittal Sul Fluminense ("AMSF") put option liability (see notes 9.2 and 11.5.2).