ArcelorMittal Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, dated August 2, 2013, is filed by ArcelorMittal, a foreign private issuer headquartered in Luxembourg. The filing serves to update the Company's Annual Report on Form 20-F for the year ended December 31, 2012, which was originally filed on February 15, 2013.
The primary purpose of this report is to reflect the retrospective application of new International Financial Reporting Standards (IFRS) adopted on January 1, 2013. These standards include IFRS 10 (Consolidated Financial Statements), IFRS 11 (Joint Arrangements), IFRS 12 (Disclosure of Interests in Other Entities), IFRIC 20 (Stripping Costs), and amendments to IAS 19, IAS 27, IAS 28, IFRS 7, and IAS 1.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. Instead, it references Exhibit 99.6, which contains the Consolidated Financial Statements for the three years ended December 31, 2012, retrospectively adjusted for the new accounting standards. All financial data presented in the exhibits is adjusted to reflect these new standards.
Material Changes
The material change disclosed in this filing is the retrospective adjustment of financial data for the three years ended December 31, 2012, due to the adoption of new IFRS standards. This affects the presentation of consolidated financial statements, joint arrangements, employee benefits, and financial instrument disclosures compared to the original February 2013 filing.
Guidance, Outlook, and Risks
This specific Form 6-K does not contain new management commentary, forward-looking guidance, or specific risk factors. It directs investors to the exhibits (specifically Exhibit 99.3 for Operating and Financial Review and Exhibit 99.5 for Market Risks) for detailed information, noting that these exhibits have been retrospectively adjusted. The filing incorporates by reference the registration statement on Form F-3 (No. 333-179763).
Investor Verification Checklist
- Verify the specific numerical impact of the IFRS 10, IFRS 11, and IFRS 12 adoptions on consolidated revenue and net income by reviewing Exhibit 99.6.
- Review Exhibit 99.3 for the updated Operating and Financial Review to understand how the new standards affect the Company's reported performance trends.
- Confirm the adjustments to employee benefit obligations (IAS 19R) and stripping costs (IFRIC 20) in the adjusted financial statements.
- Ensure that the retrospective adjustments are consistent across all three years presented (2010, 2011, and 2012) for accurate year-over-year comparison.