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OPERATING DATA (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022, 2021 and 2020.
Year ended December 31,
202220212020
Trade accounts receivable and other - opening balance5,143 3,072 3,569 
Performance obligations satisfied79,844 76,571 53,270 
Payments received(80,977)(74,036)(53,194)
Impairment of receivables (net of write backs and utilization)— (69)(16)
Reclassification of the period-end receivables from /(to) held for sale and recognition (derecognition) of receivables related to business combination and divestments 1
190 182 (724)
TSR receivables retained in ArcelorMittal USA divestment 2
— (260)260 
Foreign exchange and others(361)(317)(93)
Trade accounts receivable and other - closing balance3,839 5,143 3,072 
1.2022 includes receivables acquired as part of acquisition of ArcelorMittal Texas HBI (see note 2.2.4). 2021 and 2020 include mainly receivables from the joint venture Acciaierie d'Italia (see note 2.3.1).
2.See note 6.1.3
Schedule of Cost of Sales
Cost of sales includes the following components:
 Year ended December 31,
 202220212020
Materials51,353 42,737 34,599 
Labor costs6,721 6,886 7,690 
Logistic expenses4,096 3,931 3,474 
Depreciation and amortization2,580 2,523 2,960 
Net impairment charges/ (reversal) (see note 5.3)1,026 (218)(133)
Gain on ArcelorMittal USA disposal 1
— — (1,460)
Other1,533 1,478 2,008 
Total67,309 57,337 49,138 
1. See note 2.3.1
Schedule of Trade Accounts Receivable and Allowance for Expected Credit Losses
 December 31,
 20222021
Gross amount4,029 5,349 
Allowance for lifetime expected credit losses(190)(206)
Total3,839 5,143 
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,
 20222021
NAFTA 289 330 
Brazil1,127 1,308 
Europe2,011 2,959 
ACIS347 444 
Mining65 102 
Total3,839 5,143 
Aging of Trade Accounts Receivable
Aging of trade accounts receivable
 December 31,December 31,
 20222021
 GrossAllowance TotalGrossAllowance Total
Not past due3,063 (17)3,046 4,280 (30)4,250 
Overdue 1-30 days366 (2)364 322 (1)321 
Overdue 31-60 days120 (1)119 80 — 80 
Overdue 61-90 days40 — 40 121 — 121 
Overdue 91-180 days97 (2)95 210 (2)208 
More than 180 days343 (168)175 336 (173)163 
Total4,029 (190)3,839 5,349 (206)5,143 
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,
202220212020
Allowance - opening balance206 136 129 
Additions19 87 27 
Write backs / utilization (19)(18)(11)
Foreign exchange and others(16)1 (9)
Allowance - closing balance190 206 136 
Schedule of Inventories
Inventories, net of allowance for slow-moving inventory, excess of cost over net realizable value and obsolescence of 1,629 and 1,023 as of December 31, 2022 and 2021, respectively, are comprised of the following:
 December 31,
 20222021
Finished products5,906 5,743 
Production in process5,343 5,101 
Raw materials6,639 7,137 
Manufacturing supplies, spare parts and other 1
2,199 1,877 
Total20,087 19,858 
1.Including spare parts of 1.5 billion and 1.4 billion, and manufacturing and other supplies of 0.7 billion and 0.5 billion as of December 31, 2022 and 2021, respectively.
Movement in Inventory Reserve
Movements in the inventory write-downs are as follows:
Year ended December 31,
202220212020
Inventory write-downs - opening balance1,023 1,079 1,760 
Additions 1
759 178 294 
Deductions / Releases 2
(136)(236)(878)
Foreign exchange and others(17)2 (97)
Inventory write-downs - closing balance1,629 1,023 1,079 
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 utilization related to the prior periods.
Schedule of Prepaid Expenses and Other Current Assets
December 31,
20222021
VAT receivables1,144 986 
Prepaid expenses and non-trade receivables 732 566 
Financial amounts receivable122 108 
Income tax receivable158 106 
Receivables from public authorities152 127 
Receivables from sale of intangible, tangible and financial assets67 48 
Derivative financial instruments (notes 6.1 and 6.3)737 2,985 
CO2 emission rights
491 458 
Other 1
175 183 
Total3,778 5,567 
1.Other included mainly advances to employees, accrued interest and other miscellaneous receivables.
Schedule of Other Assets
Other assets consisted of the following:
 December 31,
 20222021
Derivative financial instruments (notes 6.1 and 6.3)835 318 
Financial amounts receivable429 411 
Long-term VAT receivables74 179 
Cash guarantees and deposits155 94 
Receivables from public authorities73 60 
Accrued interest24 29 
Receivables from sale of intangible, tangible and financial assets139 150 
Income tax receivable68 61 
Other 1
124 159 
Total1,921 1,461 
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,
20222021
Accrued payroll and employee related expenses1,415 1,545 
Accrued interest and other payables1,049 1,207 
Payable from acquisition of intangible, tangible & financial assets1,123 615 
Other amounts due to public authorities652 833 
Derivative financial instruments (notes 6.1 and 6.3)379 316 
Put option liability ArcelorMittal Sul Fluminense (note 11.5.2)179 252 
Unearned revenue and accrued payables67 63 
Total4,864 4,831