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SEGMENT AND GEOGRAPHIC INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2022
Disclosure of operating segments [abstract] |
Schedule of segment reporting | The following table summarizes certain financial data relating to ArcelorMittal’s operations in its different reportable segments:
| NAFTA |  | Brazil |  | Europe |  | ACIS |  | Mining |  | Others* |  | Elimination |  | Total
Six months ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales to external customers | 7,385 |  |  | 6,291 |  |  | 26,377 |  |  | 3,189 |  |  | 727 |  |  | 9 |  |  | — |  |  | 43,978 |
Intersegment sales** | 28 |  |  | 1,061 |  |  | 115 |  |  | 381 |  |  | 1,211 |  |  | 8 |  |  | (2,804) |  |  | — |
Operating income (loss) | 1,871 |  |  | 1,875 |  |  | 4,144 |  |  | 323 |  |  | 974 |  |  | (136) |  |  | (124) |  |  | 8,927 |
Depreciation and amortization | 186 |  |  | 129 |  |  | 652 |  |  | 211 |  |  | 120 |  |  | 18 |  |  | — |  |  | 1,316 |
Capital expenditures | 202 |  |  | 213 |  |  | 398 |  |  | 197 |  |  | 162 |  |  | 12 |  |  | — |  |  | 1,184 |
Six months ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales to external customers | 5,755 |  |  | 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 amortization | 142 |  |  | 109 |  |  | 615 |  |  | 220 |  |  | 115 |  |  | 20 |  |  | — |  |  | 1,221 |
Capital expenditures | 147 |  |  | 139 |  |  | 578 |  |  | 214 |  |  | 97 |  |  | 16 |  |  | (3) |  |  | 1,188 |
*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.
Reconciliation of operating income to net income | The reconciliation from operating income to net income is as follows:
| Six months ended June 30,
| 2022 |  | 2021
Operating income | 8,927 |  |  | 7,073 |
Income from investments in associates, joint ventures and other investments | 1,137 |  |  | 1,043 |
Financing costs - net | (427) |  |  | (594) |
Income before taxes | 9,637 |  |  | 7,522 |
Income tax expense | (1,381) |  |  | (946) |
Net income (including non-controlling interests) | 8,256 |  |  | 6,576 |
Schedule of geographical areas | Sales (by destination)
| Six months ended June 30,
| 2022 |  | 2021
Americas |  |  |
United States | 4,768 |  |  | 3,342 |
Brazil | 4,545 |  |  | 3,971 |
Canada | 2,281 |  |  | 1,844 |
Mexico | 1,463 |  |  | 1,151 |
Argentina | 856 |  |  | 598 |
Others Americas | 960 |  |  | 749 |
Total Americas | 14,873 |  |  | 11,655 |
Europe |  |  |
Germany | 4,236 |  |  | 3,019 |
France | 3,288 |  |  | 2,489 |
Poland | 3,399 |  |  | 2,328 |
Spain | 2,665 |  |  | 2,041 |
Italy | 2,396 |  |  | 2,667 |
Turkey | 685 |  |  | 669 |
Czech Republic | 848 |  |  | 598 |
United Kingdom | 952 |  |  | 728 |
Belgium | 1,071 |  |  | 877 |
Russia | 420 |  |  | 863 |
Netherlands | 1,046 |  |  | 628 |
Romania | 312 |  |  | 228 |
Ukraine | 275 |  |  | 394 |
Others Europe | 3,499 |  |  | 2,200 |
Total Europe | 25,092 |  |  | 19,729 |
Asia & Africa |  |  |
South Africa | 1,308 |  |  | 1,202 |
Morocco | 416 |  |  | 325 |
Egypt | 76 |  |  | 26 |
Rest of Africa | 289 |  |  | 456 |
China | 345 |  |  | 397 |
Kazakhstan | 370 |  |  | 370 |
South Korea | 240 |  |  | 264 |
India | 47 |  |  | 91 |
Rest of Asia | 922 |  |  | 1,021 |
Total Asia & Africa | 4,013 |  |  | 4,152 |
Total | 43,978 |  |  | 35,536 |
Schedule of products and services | 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,
| 2022 |  | 2021
Flat products | 25,208 |  |  | 19,418 |
Long products | 9,682 |  |  | 8,380 |
Tubular products | 1,477 |  |  | 1,045 |
Mining products | 837 |  |  | 839 |
Others | 6,774 |  |  | 5,854 |
Total | 43,978 |  |  | 35,536 |
Schedule of disaggregation of revenue | The tables below summarize the disaggregated revenue recognized from contracts with customers for the six months ended June 30, 2022 and 2021, respectively:
Six months ended June 30, 2022 | NAFTA |  | Brazil |  | Europe |  | ACIS |  | Mining |  | Others |  | Total
Steel sales | 7,153 |  |  | 5,877 |  |  | 23,720 |  |  | 2,767 |  |  | — |  |  | — |  |  | 39,517 |
Non-steel sales 1 | 10 |  |  | 87 |  |  | 1,124 |  |  | 227 |  |  | 708 |  |  | — |  |  | 2,156 |
By-product sales 2 | 64 |  |  | 67 |  |  | 641 |  |  | 84 |  |  | — |  |  | — |  |  | 856 |
Other sales 3 | 158 |  |  | 260 |  |  | 892 |  |  | 111 |  |  | 19 |  |  | 9 |  |  | 1,449 |
Total | 7,385 |  |  | 6,291 |  |  | 26,377 |  |  | 3,189 |  |  | 727 |  |  | 9 |  |  | 43,978 |
Six months ended June 30, 2021 | NAFTA |  | Brazil |  | Europe |  | ACIS |  | Mining |  | Others |  | Total
Steel sales | 5,594 |  |  | 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 |
Total | 5,755 |  |  | 4,861 |  |  | 19,990 |  |  | 4,170 |  |  | 751 |  |  | 9 |  |  | 35,536 |
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.

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