ArcelorMittal

ArcelorMittal SA Monitor

ArcelorMittal SA Annual Report 2017
CR Monitor Issue: 
2018/0418
Company covered: 
ArcelorMittal SA
Period End: 
31 December, 2017
Report issued on 22 April 2018 covered the following practice issues:
Restatement
Earnings per share restated following reserve stock split.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities
Pronouncements
Extended disclosure in respect of new accounting standards including IFRS 9, IFRS 15 and IFRS 16
Change
Audit report enhanced by disclosure of key audit matters.

Fair value measurement information under IFRS

IFRS 13 “Fair value measurement” sets out a single consistent framework for measuring fair value within IFRS financial statements and outlines a standardised set of disclosures in respect of fair value measurements. IFRS 13 has been mandatory now for some years, with application being required for annual reporting periods beginning on or after 1 January 2013. This report sets out the results of how requirements of the standard have been put into practice, both in terms of measurement and disclosure, in the consolidated financial statements of 139 large public limited companies with year ends between 31 March 2016 and 1 April 2017. It is not an exhaustive study of all aspects of IFRS 13 application and its conclusions are limited to our findings in respect of the areas analysed within the financial statements reviewed.

Disclosure of the impacts of IFRS 16 "Leases"

IFRS 16 “Leases” will fundamentally change accounting by lessees as it requires assets previously off balance sheet under operating lease arrangements to be brought on balance sheet as is currently the case for finance leased assets. As a result on application companies will recognise both additional assets and additional liabilities. Consequently there will also be knock on effects in the income statement as operating lease charges are replaced by a depreciation charge and a finance expense. This report analyses the financial statements of a range of companies to firstly establish whether there has been any early adoption and secondly to establish what companies are disclosing in respect of IFRS 16 and its future impacts.

ArcelorMittal SA Monitor

ArcelorMittal SA Annual Report 2016
CR Monitor Issue: 
2017/0406
Company covered: 
ArcelorMittal SA
Period End: 
31 December, 2016
Report issued on 11 April 2017 covered the following practice issues:
Change
Reclassification of collections linked to sold receivables from ‘accrued expenses and other liabilities’ to ‘trade accounts payable and other’.
Restatement
Loss per share restated to adjust for the bonus element of a rights issue.

ArcelorMittal SA Monitor

ArcelorMittal SA Annual Report 2015
CR Monitor Issue: 
2016/0303
Company covered: 
ArcelorMittal SA
Period End: 
31 December, 2015
Report issued on 18 March 2016 covered the following practice issues:
Pronouncements
Basic disclosure on impending leases Standard.
Change
Notes to financial statements classified.

ArcelorMittal SA

ArcelorMittal SA Annual Report 2011
CR Monitor Issue: 
2012/0315
Company covered: 
ArcelorMittal SA
Period End: 
31 December 2011
Report issued on 30 March 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Mining operations now reported as a separate reportable segment.
Change
Several countries reported separately in entity-wide disclosures, with an analysis of sales by type of product added.
Change
Two groups of CGUs now have impairment risk with full IFRS disclosures provided.
Change
Goodwill reallocated to groups of CGUs following change to the segment structure.
Change
Separate disclosure of reclassification adjustments relating to other comprehensive income from discontinued operations.
Change
Mining assets presented separately in a reconciliation of PPE.