Revenue Recognition Accounting Policy
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns and other similar allowances.
Revenue from the sale of goods is recognized when ArcelorMittal has transferred to the buyer the significant risks and rewards of ownership of the goods, no longer retains control over the goods sold, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to ArcelorMittal, and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Source: ArcelorMittal, Annual Report
Revenues as Reported
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ArcelorMittal, Income Statement, Revenues
Source: ArcelorMittal Annual Reports
| Item |
Description |
The company |
| Sales to external customers |
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. |
ArcelorMittal's sales to external customers increased from 2009 to 2010 and from 2010 to 2011.
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