Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | ANHEUSER-BUSCH INBEV SA/NV |
Entity Central Index Key | 0001668717 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Entity Address, Country | BE |
Entity Common Stock, Shares Outstanding | 1,693,242,156 |
ICFR Auditor Attestation Flag | true |
Ordinary shares [member] | |
Document Information [Line Items] | |
Trading Symbol | BUD |
Title of 12(b) Security | Ordinary shares without nominal value |
Security Exchange Name | NYSE |
American Depositary Shares, each representing one ordinary share without nominal value | |
Document Information [Line Items] | |
Trading Symbol | BUD |
Title of 12(b) Security | American Depositary Shares, each representing one ordinary share without nominal value |
Security Exchange Name | NYSE |
6.375% Notes due 2040 (issued January 2010) | |
Document Information [Line Items] | |
Trading Symbol | BUD40 |
Title of 12(b) Security | 6.375% Notes due 2040 (issued January 2010) |
Security Exchange Name | NYSE |
8.200% Notes due 2039 (issued March 2011) | |
Document Information [Line Items] | |
Trading Symbol | BUD39 |
Title of 12(b) Security | 8.200% Notes due 2039 (issued March 2011) |
Security Exchange Name | NYSE |
3.750% Notes due 2042 (issued July 2012) | |
Document Information [Line Items] | |
Trading Symbol | BUD42A |
Title of 12(b) Security | 3.750% Notes due 2042 (issued July 2012) |
Security Exchange Name | NYSE |
4.000% Notes due 2043 (issued January 2013) | |
Document Information [Line Items] | |
Trading Symbol | BUD/43 |
Title of 12(b) Security | 4.000% Notes due 2043 (issued January 2013) |
Security Exchange Name | NYSE |
4.625% Notes due 2044 (issued January 2014) | |
Document Information [Line Items] | |
Trading Symbol | BUD/44 |
Title of 12(b) Security | 4.625% Notes due 2044 (issued January 2014) |
Security Exchange Name | NYSE |
3.650% Notes due 2026 (issued January 2016) | |
Document Information [Line Items] | |
Trading Symbol | BUD/26 |
Title of 12(b) Security | 3.650% Notes due 2026 (issued January 2016) |
Security Exchange Name | NYSE |
4.700% Notes due 2036 (issued January 2016) | |
Document Information [Line Items] | |
Trading Symbol | BUD/36 |
Title of 12(b) Security | 4.700% Notes due 2036 (issued January 2016) |
Security Exchange Name | NYSE |
4.900% Notes due 2046 (issued January 2016) | |
Document Information [Line Items] | |
Trading Symbol | BUD/46 |
Title of 12(b) Security | 4.900% Notes due 2046 (issued January 2016) |
Security Exchange Name | NYSE |
4.950% Notes due 2042 (issued December 2016) | |
Document Information [Line Items] | |
Trading Symbol | BUD/42 |
Title of 12(b) Security | 4.950% Notes due 2042 (issued December 2016) |
Security Exchange Name | NYSE |
6.625% Notes due 2033 (issued December 2016) | |
Document Information [Line Items] | |
Trading Symbol | BUD/33 |
Title of 12(b) Security | 6.625% Notes due 2033 (issued December 2016) |
Security Exchange Name | NYSE |
5.875% Notes due 2035 (issued December 2016) | |
Document Information [Line Items] | |
Trading Symbol | BUD/35 |
Title of 12(b) Security | 5.875% Notes due 2035 (issued December 2016) |
Security Exchange Name | NYSE |
4.439% Notes due 2048 (issued August 2017) | |
Document Information [Line Items] | |
Trading Symbol | BUD/48 |
Title of 12(b) Security | 4.439% Notes due 2048 (issued August 2017) |
Security Exchange Name | NYSE |
4.000% Notes due 2028 (issued April 2018) | |
Document Information [Line Items] | |
Trading Symbol | BUD/28 |
Title of 12(b) Security | 4.000% Notes due 2028 (issued April 2018) |
Security Exchange Name | NYSE |
4.375% Notes due 2038 (issued April 2018) | |
Document Information [Line Items] | |
Trading Symbol | BUD/38 |
Title of 12(b) Security | 4.375% Notes due 2038 (issued April 2018 |
Security Exchange Name | NYSE |
4.600% Notes due 2048 (issued April 2018) | |
Document Information [Line Items] | |
Trading Symbol | BUD/48A |
Title of 12(b) Security | 4.600% Notes due 2048 (issued April 2018) |
Security Exchange Name | NYSE |
4.750% Notes due 2058 (issued April 2018) | |
Document Information [Line Items] | |
Trading Symbol | BUD/58 |
Title of 12(b) Security | 4.750% Notes due 2058 (issued April 2018) |
Security Exchange Name | NYSE |
Floating Rate Notes due 2024 (issued April 2018) | |
Document Information [Line Items] | |
Trading Symbol | BUD24A |
Title of 12(b) Security | Floating Rate Notes due 2024 (issued April 2018) |
Security Exchange Name | NYSE |
4.150% Notes due 2025 (issued January 2019) | |
Document Information [Line Items] | |
Trading Symbol | BUD/25 |
Title of 12(b) Security | 4.150% Notes due 2025 (issued January 2019) |
Security Exchange Name | NYSE |
4.750% Notes due 2029 (issued January 2019) | |
Document Information [Line Items] | |
Trading Symbol | BUD/29 |
Title of 12(b) Security | 4.750% Notes due 2029 (issued January 2019) |
Security Exchange Name | NYSE |
4.900% Notes due 2031 (issued January 2019) | |
Document Information [Line Items] | |
Trading Symbol | BUD/31 |
Title of 12(b) Security | 4.900% Notes due 2031 (issued January 2019) |
Security Exchange Name | NYSE |
5.450% Notes due 2039 (issued January 2019) | |
Document Information [Line Items] | |
Trading Symbol | BUD/39A |
Title of 12(b) Security | 5.450% Notes due 2039 (issued January 2019) |
Security Exchange Name | NYSE |
5.550% Notes due 2049 (issued January 2019) | |
Document Information [Line Items] | |
Trading Symbol | BUD/49 |
Title of 12(b) Security | 5.550% Notes due 2049 (issued January 2019) |
Security Exchange Name | NYSE |
5.800% Notes due 2059 (issued January 2019) | |
Document Information [Line Items] | |
Trading Symbol | BUD/59 |
Title of 12(b) Security | 5.800% Notes due 2059 (issued January 2019) |
Security Exchange Name | NYSE |
4.900% Notes due 2046 (issued May 2019) | |
Document Information [Line Items] | |
Trading Symbol | BUD/46A |
Title of 12(b) Security | 4.900% Notes due 2046 (issued May 2019) |
Security Exchange Name | NYSE |
4.700% Notes due 2036 (issued May 2019) | |
Document Information [Line Items] | |
Trading Symbol | BUD/36A |
Title of 12(b) Security | 4.700% Notes due 2036 (issued May 2019) |
Security Exchange Name | NYSE |
3.650% Notes due 2026 (issued May 2019) | |
Document Information [Line Items] | |
Trading Symbol | BUD/26A |
Title of 12(b) Security | 3.650% Notes due 2026 (issued May 2019) |
Security Exchange Name | NYSE |
3.500% Notes due 2030 (issued April 2020) | |
Document Information [Line Items] | |
Trading Symbol | BUD/30 |
Title of 12(b) Security | 3.500% Notes due 2030 (issued April 2020) |
Security Exchange Name | NYSE |
4.350% Notes due 2040 (issued April 2020) | |
Document Information [Line Items] | |
Trading Symbol | BUD/40 |
Title of 12(b) Security | 4.350% Notes due 2040 (issued April 2020) |
Security Exchange Name | NYSE |
4.500% Notes due 2050 (issued April 2020) | |
Document Information [Line Items] | |
Trading Symbol | BUD/50 |
Title of 12(b) Security | 4.500% Notes due 2050 (issued April 2020) |
Security Exchange Name | NYSE |
4.600% Notes due 2060 (issued April 2020) | |
Document Information [Line Items] | |
Trading Symbol | BUD/60 |
Title of 12(b) Security | 4.600% Notes due 2060 (issued April 2020) |
Security Exchange Name | NYSE |
Consolidated Income Statement
Consolidated Income Statement - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||||
Profit or loss [abstract] | ||||||
Revenue | $ 46,881 | $ 52,329 | $ 53,041 | [1] | ||
Cost of sales | (19,634) | (20,362) | (19,933) | [1] | ||
Gross profit | 27,247 | 31,967 | 33,108 | [1] | ||
Distribution expenses | (5,104) | (5,525) | (5,612) | [1] | ||
Sales and marketing expenses | (6,861) | (7,348) | (7,774) | [1] | ||
Administrative expenses | (3,404) | (3,548) | (3,421) | [1] | ||
Other operating income/(expenses) | 845 | 875 | 805 | [1] | ||
Impairment of goodwill | (2,500) | |||||
COVID-19 costs | (182) | |||||
Restructuring | (157) | (170) | (363) | [1] | ||
Business and asset disposal (including impairment losses) | (239) | (50) | (26) | [1] | ||
Acquisition costs business combinations | (25) | (23) | (73) | [1] | ||
Brazil state tax regularization program | (74) | |||||
Cost related to public offering of minority stake in Budweiser APAC | (6) | |||||
Provision for EU investigation | [1] | (230) | ||||
Profit from operations | 9,620 | 16,098 | 16,414 | [1] | ||
Finance cost | (8,419) | (5,993) | (9,261) | [1] | ||
Finance income | 722 | 2,519 | 435 | [1] | ||
Net finance income/(cost) | (7,697) | (3,473) | (8,826) | [1] | ||
Share of result of associates and joint ventures | 156 | 152 | 153 | [1] | ||
Profit before tax | 2,079 | 12,776 | 7,741 | [1] | ||
Income tax expense | (1,932) | (2,786) | (2,585) | [1] | ||
Profit from continuing operations | 147 | 9,990 | [2] | 5,157 | [2],[3] | |
Profit from discontinued operations | 2,055 | 424 | 531 | [1] | ||
Profit of the period | 2,202 | 10,414 | 5,688 | [4] | ||
Profit from continuing operations attributable to: | ||||||
Equity holders of AB InBev | (650) | 8,748 | 3,839 | [1] | ||
Non-controlling interest | 797 | 1,243 | 1,318 | [1] | ||
Attributable to: | ||||||
Equity holders of AB InBev | 1,405 | 9,171 | 4,370 | [1] | ||
Non-controlling interest | $ 797 | $ 1,243 | $ 1,318 | [1] | ||
Basic earnings per share | $ 0.70 | $ 4.62 | $ 2.21 | [1] | ||
Diluted earnings per share | 0.69 | 4.53 | 2.17 | [1] | ||
Basic earnings per share from continuing operations | (0.33) | 4.41 | 1.94 | [1] | ||
Diluted earnings per share from continuing operations | $ (0.33) | $ 4.32 | $ 1.91 | [1] | ||
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. | |||||
[2] | The consolidated statement of cash flows for 2019 and 2018 has been restated to include operating, investing and financing activities from discontinued operations separately in the cashflow statement. In addition, the 2019 cash flow from investing activities has been restated to reflect reclassification of the cash flow hedges in relation to the Australia divestiture reported in the financing activities in 2019 and recycled to profit or loss upon the completion of the transaction. | |||||
[3] | In 2019, the consolidated statement of cash flows for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. | |||||
[4] | In 2019, the consolidated statement of comprehensive income for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application. |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | [1] | ||
Statement of comprehensive income [abstract] | |||||
Profit of the period | $ 2,202 | $ 10,414 | $ 5,688 | ||
Other comprehensive income/(loss): items that will not be reclassified to profit or loss: | |||||
Re-measurements of post-employment benefits | (263) | (182) | 99 | ||
Other comprehensive income that will not be reclassified to profit or loss, net of tax | (263) | (182) | 99 | ||
Other comprehensive income/(loss): items that may be reclassified subsequently to profit or loss: | |||||
Exchange differences on translation of foreign operations | [2] | (10,951) | 947 | (7,916) | |
Effective portion of changes in fair value of net investment hedges | 479 | (157) | 114 | ||
Cash flow hedges recognized in equity | 739 | 182 | 512 | ||
Cash flow hedges and cumulative translation adjustments reclassified from equity to profit or loss in relation to Australia divestiture | 426 | ||||
Cash flow hedges reclassified from equity to profit or loss | (533) | (292) | (565) | ||
Other comprehensive income that will be reclassified to profit or loss net of tax | (9,841) | 680 | (7,855) | ||
Other comprehensive income/(loss), net of tax | (10,104) | 498 | (7,756) | ||
Total comprehensive income/(loss) | (7,901) | 10,912 | (2,068) | ||
Attributable to: | |||||
Equity holders of AB InBev | (8,156) | 10,044 | (2,998) | ||
Non-controlling interest | $ 255 | $ 867 | $ 930 | ||
[1] | In 2019, the consolidated statement of comprehensive income for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application. | ||||
[2] | See Note 23 Changes in equity and earnings per share. |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Non-current assets | ||
Property, plant and equipment | $ 26,419 | $ 27,544 |
Goodwill | 120,971 | 128,114 |
Intangible assets | 41,527 | 42,452 |
Investments in associates and joint ventures | 6,143 | 5,861 |
Investment securities | 137 | 110 |
Deferred tax assets | 2,019 | 1,719 |
Employee benefits | 6 | 14 |
Income tax receivables | 869 | 1,081 |
Derivatives | 138 | 132 |
Trade and other receivables | 1,661 | 807 |
Non-current assets | 199,891 | 207,834 |
Current assets | ||
Investment securities | 396 | 92 |
Inventories | 4,482 | 4,427 |
Income tax receivables | 655 | 627 |
Derivatives | 827 | 230 |
Trade and other receivables | 4,833 | 6,187 |
Cash and cash equivalents | 15,252 | 7,238 |
Assets classified as held for sale | 74 | 10,013 |
Current assets | 26,519 | 28,814 |
Total assets | 226,410 | 236,648 |
Equity | ||
Issued capital | 1,736 | 1,736 |
Share premium | 17,620 | 17,620 |
Reserves | 17,798 | 24,882 |
Retained earnings | 30,870 | 31,484 |
Equity attributable to equity holders of AB InBev | 68,024 | 75,722 |
Non-controlling interests | 10,327 | 8,831 |
Total equity | 78,351 | 84,553 |
Non-current liabilities | ||
Interest-bearing loans and borrowings | 95,478 | 97,564 |
Employee benefits | 2,970 | 2,848 |
Deferred tax liabilities | 12,627 | 12,824 |
Income tax payables | 808 | 1,022 |
Derivatives | 1,759 | 352 |
Trade and other payables | 1,522 | 1,943 |
Provisions | 544 | 701 |
Non-current liabilities | 115,707 | 117,254 |
Current liabilities | ||
Bank overdrafts | 5 | 68 |
Interest-bearing loans and borrowings | 3,081 | 5,410 |
Income tax payables | 1,036 | 1,346 |
Derivatives | 5,046 | 3,799 |
Trade and other payables | 22,965 | 22,864 |
Provisions | 219 | 210 |
Liabilities associated with assets held for sale | 1,145 | |
Total current liabilities | 32,352 | 34,841 |
Total equity and liabilities | $ 226,410 | $ 236,648 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity € in Millions, $ in Millions | USD ($) | EUR (€) | Issued capital [member]USD ($) | Share premium [member]USD ($) | Treasury shares [member]USD ($) | Reserves [member]USD ($) | Share-based payments reserves [member]USD ($) | OCI reserves [member]USD ($) | [1] | Deferred share instrument [member]USD ($) | Retained earnings [member]USD ($) | Equity attributable to owners of parent [member]USD ($) | Non-controlling interest [member]USD ($) | ||
Beginning balance at Dec. 31, 2017 | $ 80,200 | $ 1,736 | $ 17,620 | $ (8,980) | $ 45,726 | $ 1,753 | $ (14,784) | $ 1,119 | $ 28,387 | $ 72,576 | $ 7,624 | ||||
Impact of adopting IFRSs 9 and 15 | (46) | (4) | (4) | (42) | |||||||||||
Beginning balance, as adjusted at Dec. 31, 2017 | 80,154 | 1,736 | 17,620 | (8,980) | 45,726 | 1,753 | (14,784) | 1,119 | 28,383 | 72,572 | 7,582 | ||||
Profit of the period | 5,688 | [2] | 4,370 | 4,370 | 1,318 | ||||||||||
Other comprehensive income/(loss) | |||||||||||||||
Exchange differences on translation of foreign operations (gains/(losses)) | (7,802) | (7,374) | (7,374) | (429) | |||||||||||
Cash flow hedges | (52) | (92) | (92) | 40 | |||||||||||
Re-measurements of post-employment benefits | 99 | [2] | 98 | 98 | 1 | ||||||||||
Total comprehensive income/(loss) | (2,068) | [2] | (7,368) | 4,370 | (2,998) | 930 | |||||||||
Dividends | (7,437) | € (3,557) | (56) | (6,258) | (6,314) | (1,123) | |||||||||
Treasury shares | [1] | 2,431 | $ (1,063) | (1,368) | |||||||||||
Share-based payments | 290 | 284 | 284 | 6 | |||||||||||
Sale/(purchase) of non-controlling interests | 429 | 429 | (429) | ||||||||||||
Hyperinflation monetary adjustments | 905 | 560 | 560 | 345 | |||||||||||
Scope and other changes | 46 | (48) | (48) | 94 | |||||||||||
Ending balance at Dec. 31, 2018 | 71,889 | 1,736 | 17,620 | (6,549) | 45,726 | 2,037 | (22,152) | 26,068 | 64,485 | 7,404 | |||||
Profit of the period | 10,414 | 9,171 | 9,171 | 1,243 | |||||||||||
Other comprehensive income/(loss) | |||||||||||||||
Exchange differences on translation of foreign operations (gains/(losses)) | 790 | 1,143 | 1,143 | (353) | |||||||||||
Cash flow hedges | (110) | (97) | (97) | (13) | |||||||||||
Re-measurements of post-employment benefits | (182) | (173) | (173) | (9) | |||||||||||
Total comprehensive income/(loss) | 10,912 | 873 | 9,171 | 10,044 | 867 | ||||||||||
Dividends | (5,179) | € (2,590) | (4,117) | (4,117) | (1,062) | ||||||||||
Treasury shares | 279 | (279) | |||||||||||||
Share-based payments | 319 | 290 | 290 | 29 | |||||||||||
Sale/(purchase) of non-controlling interests | 5,805 | 4,378 | 4,378 | 1,427 | |||||||||||
Hyperinflation monetary adjustments | 354 | 219 | 219 | 135 | |||||||||||
Scope and other changes | 452 | 421 | 421 | 31 | |||||||||||
Ending balance at Dec. 31, 2019 | 84,553 | 1,736 | 17,620 | (6,270) | 50,104 | 2,327 | (21,279) | 31,484 | 75,722 | 8,831 | |||||
Profit of the period | 2,202 | 1,405 | 1,405 | 797 | |||||||||||
Other comprehensive income/(loss) | |||||||||||||||
Exchange differences on translation of foreign operations (gains/(losses)) | (10,473) | (9,943) | (9,943) | (529) | |||||||||||
Cash flow hedges | 206 | 198 | 198 | 8 | |||||||||||
Cash flow hedges and cumulative translation adjustments reclassified from equity to profit or loss in relation to Australia divestiture | 426 | 426 | 426 | ||||||||||||
Re-measurements of post-employment benefits | (263) | (243) | (243) | (20) | |||||||||||
Total comprehensive income/(loss) | (7,901) | (9,562) | 1,405 | (8,156) | 255 | ||||||||||
Dividends | (1,923) | (1,118) | (1,118) | (804) | |||||||||||
Treasury shares | 385 | 1,359 | (974) | 385 | |||||||||||
Share-based payments | 20 | 3 | 3 | 17 | |||||||||||
Sale/(purchase) of non-controlling interests | [3] | 2,985 | 1,116 | 1,116 | 1,869 | ||||||||||
Hyperinflation monetary adjustments | 259 | 160 | 160 | 99 | |||||||||||
Scope and other changes | (26) | (87) | (87) | 60 | |||||||||||
Ending balance at Dec. 31, 2020 | $ 78,351 | $ 1,736 | $ 17,620 | $ (4,911) | $ 51,220 | $ 2,330 | $ (30,841) | $ 30,870 | $ 68,024 | $ 10,327 | |||||
[1] | See Note 23 Changes in equity and earnings per share. | ||||||||||||||
[2] | In 2019, the consolidated statement of comprehensive income for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application. | ||||||||||||||
[3] | The 2020 sale of non-controlling interest relates to the issuance of a 49.9% minority stake in the company’s US-based metal container operations completed in December 2020 (refer to Note 23 Changes in equity and earnings per share for more details). |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | [2] | |||
OPERATING ACTIVITIES | ||||||
Profit from continuing operations | $ 147 | $ 9,990 | [1] | $ 5,157 | [1] | |
Depreciation, amortization and impairment | 4,829 | 4,657 | [1] | 4,624 | [1] | |
Impairment losses on goodwill | 2,500 | |||||
Impairment losses on receivables, inventories and other assets | 218 | 112 | [1] | 107 | [1] | |
Additions/(reversals) in provisions and employee benefits | 278 | 216 | [1] | 504 | [1] | |
Net finance cost/(income) | 7,697 | 3,473 | [1] | 8,826 | [1] | |
Loss/(gain) on sale of property, plant and equipment and intangible assets | (69) | (149) | [1] | (82) | [1] | |
Loss/(gain) on sale of subsidiaries, associates and assets held for sale | 7 | (34) | [1] | (20) | [1] | |
Equity-settled share-based payment expense | 169 | 340 | [1] | 333 | [1] | |
Income tax expense | 1,932 | 2,786 | [1] | 2,585 | [1] | |
Other non-cash items included in profit | (381) | (220) | [1] | (654) | [1] | |
Share of result of associates and joint ventures | (156) | (152) | [1] | (153) | [1] | |
Cash flow from operating activities before changes in working capital and use of provisions | 17,171 | 21,019 | [1] | 21,227 | [1] | |
Decrease/(increase) in trade and other receivables | 516 | (258) | [1] | (105) | [1] | |
Decrease/(increase) in inventories | (427) | (426) | [1] | (588) | [1] | |
Increase/(decrease) in trade and other payables | 503 | 679 | [1] | 1,170 | [1] | |
Pension contributions and use of provisions | (616) | (715) | [1] | (487) | [1] | |
Cash generated from operations | 17,147 | 20,299 | [1] | 21,217 | [1] | |
Interest paid | (4,340) | (4,450) | [1] | (4,559) | [1] | |
Interest received | 255 | 523 | [1] | 429 | [1] | |
Dividends received | 51 | 160 | [1] | 141 | [1] | |
Income tax paid | (2,306) | (3,136) | [1] | (3,047) | [1] | |
Cash flow from operating activities on Australia discontinued operations | 84 | 640 | [1] | 883 | [1] | |
Cash flow from operating activities | 10,891 | 14,036 | [1] | 15,064 | [1] | |
INVESTING ACTIVITIES | ||||||
Acquisition of property, plant and equipment and of intangible assets | (3,781) | (5,174) | [1] | (5,005) | [1] | |
Proceeds from sale of property, plant and equipment and of intangible assets | 94 | 320 | [1] | 437 | [1] | |
Acquisition of subsidiaries, net of cash acquired | (510) | (385) | [1] | (84) | [1] | |
Sale of other subsidiaries, net of cash disposed of | [1] | 133 | 257 | |||
Net proceeds from sale/(acquisition) of other assets | (292) | 33 | [1] | 538 | [1] | |
Proceeds from Australia divestiture | 10,838 | 219 | [1] | |||
Cash flow from investing activities on Australia discontinued operations | (13) | (77) | [1] | (109) | [1] | |
Cash flow from investing activities | 6,336 | (4,931) | [1] | (3,966) | [1] | |
FINANCING ACTIVITIES | ||||||
(Purchase)/sale of non-controlling interest | 3,039 | 222 | [1] | (923) | [1] | |
Proceeds from public offering of minority stake in Budweiser APAC | [1] | 5,575 | ||||
Proceeds from borrowings | 14,822 | 22,584 | [1] | 17,782 | [1] | |
Payments on borrowings | (23,116) | (30,592) | [1] | (22,489) | [1] | |
Cash net finance (cost)/income other than interests | (953) | (1,064) | [1] | (513) | [1] | |
Payment of lease liabilities | (461) | (441) | [1] | (423) | [1] | |
Dividends paid | (1,800) | (5,015) | [1] | (7,761) | [1] | |
Cash flow from financing activities on Australia discontinued operations | (6) | (24) | [1] | (19) | [1] | |
Cash flow from financing activities | (8,475) | (8,755) | [1] | (14,346) | [1] | |
Net increase/(decrease) in cash and cash equivalents | 8,752 | 350 | [1] | (3,248) | [1] | |
Cash and cash equivalents less bank overdrafts at beginning of year | [1] | 7,169 | 6,960 | [2] | 10,356 | |
Effect of exchange rate fluctuations | (674) | (141) | [1] | (148) | [1] | |
Cash and cash equivalents less bank overdrafts at end of period | $ 15,247 | $ 7,169 | [1] | $ 6,960 | [1] | |
[1] | The consolidated statement of cash flows for 2019 and 2018 has been restated to include operating, investing and financing activities from discontinued operations separately in the cashflow statement. In addition, the 2019 cash flow from investing activities has been restated to reflect reclassification of the cash flow hedges in relation to the Australia divestiture reported in the financing activities in 2019 and recycled to profit or loss upon the completion of the transaction. | |||||
[2] | In 2019, the consolidated statement of cash flows for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Corporate information
Corporate information | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Corporate information | 1. Corporate information Anheuser-Busch InBev is a publicly traded company (Euronext: ABI) based in Leuven, Belgium, with secondary listings on the Mexico (MEXBOL: ANB) and South Africa (JSE: ANH) stock exchanges and with American Depositary Receipts on the New York Stock Exchange (NYSE: BUD). Our Dream is to bring people together for a better world. Beer, the original social network, has been bringing people together for thousands of years. We are committed to building great brands that stand the test of time and to brewing the best beers using the finest natural ingredients. Our diverse portfolio of well over 500 beer brands includes global brands Budweiser ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® The consolidated financial statements of the company for the year ended 31 December 2020 comprise the company and its subsidiaries (together referred to as “AB InBev” or the “company”) and the company’s interest in associates, joint ventures and operations. The consolidated financial statements were authorized for issue by the Board of Directors on 17 March 2021. |
Statement of compliance
Statement of compliance | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Statement of compliance | 2. Statement of compliance The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standard Board (“IASB”) and in conformity with International Financial Reporting Standards as adopted by the European Union up to 31 December 2020 (collectively “IFRS”). AB InBev did not early apply any new IFRS requirements that were not yet effective in 2020 and did not apply any European carve-outs from IFRS. |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of significant accounting policies | 3. Summary of significant accounting policies The accounting policies set out below have been applied consistently to all periods presented in these consolidated financial statements by the company and its subsidiaries. In March 2020, the SEC amended its regulations regarding financial information of guarantors and issuers of guaranteed securities registered or being registered. We adopted these amendments for the year ended 31 December 2020, which included replacing guarantor condensed consolidating financial information with summarized financial information for the combined obligor group (Parent, Issuer and Guarantor Subsidiaries) in accordance with the amended regulations and no longer requiring guarantor cash flow information, financial information for non-guarantor subsidiaries, or a reconciliation to the consolidated results. The location of the required disclosures has been removed from the Notes to the Consolidated Financial Statements and moved to “Item 5. Operating and Financial Review—G. Liquidity and Capital Resources—Guarantor Financial Information”. (A) BASIS OF PREPARATION AND MEASUREMENT Depending on the applicable IFRS requirements, the measurement basis used in preparing the financial statements is cost, net realizable value, fair value or recoverable amount. Whenever IFRS provides an option between cost and another measurement basis (e.g. systematic re-measurement), (B) FUNCTIONAL AND PRESENTATION CURRENCY Unless otherwise specified, all financial information included in these financial statements has been stated in US dollar and has been rounded to the nearest million. As from 2009, following the combination with Anheuser-Bush, the company changed the presentation currency of the consolidated financial statements from the euro to the US dollar to provide greater alignment of the presentation currency with AB InBev’s most significant operating currency and underlying financial performance. The functional currency of the parent company is the euro. (C) USE OF ESTIMATES AND JUDGMENTS The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. (D) PRINCIPLES OF CONSOLIDATION Subsidiaries are those entities controlled by AB InBev. AB InBev controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. In assessing control, potential voting rights are taken into account. Control is presumed to exist where AB InBev owns, directly or indirectly, more than one half of the voting rights (which does not always equate to economic ownership), unless it can be demonstrated that such ownership does not constitute control. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Total comprehensive income of subsidiaries is attributed to the owners of the company and to the non-controlling non-controlling Associates are undertakings in which AB InBev has significant influence over the financial and operating policies, but which it does not control. This is generally evidenced by ownership of between 20% and 50% of the voting rights. A joint venture is an arrangement in which AB InBev has joint control, whereby AB InBev has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Associates and joint ventures are accounted for by the equity method of accounting, from the date that significant influence or joint control commences until the date that significant influence or joint control ceases. When AB InBev’s share of losses exceeds the carrying amount of the associate or joint venture, the carrying amount is reduced to nil and recognition of further losses is discontinued except to the extent that AB InBev has incurred legal or constructive obligations on behalf of the associate or joint venture. Joint operations arise when AB InBev has rights to the assets and obligations to the liabilities of a joint arrangement. AB InBev accounts for its share of the assets, liabilities, revenues and expenses as from the moment joint operation commences until the date that joint operation ceases. The financial statements of the company’s subsidiaries, joint ventures, joint operations and associates are prepared for the same reporting year as the parent company, using consistent accounting policies. In exceptional cases when the financial statements of a subsidiary, joint venture, joint operation or associate are prepared as of a different date from that of AB InBev, adjustments are made for the effects of significant transactions or events that occur between that date and the date of AB InBev’s financial statements. In such cases, the difference between the end of the reporting period of these subsidiaries, joint ventures, joint operations or associates from AB InBev’s reporting period is no more than three months. Results from the company’s associates Anadolu Efes and Castel are reported on a three-month lag. Therefore, estimates are made to reflect AB InBev’s share in the result of these associates for the last quarter. Such estimates are revisited when required. Transactions with non-controlling non-controlling non-controlling All intercompany transactions, balances and unrealized gains and losses on transactions between group companies have been eliminated. Unrealized gains arising from transactions with joint ventures, joint operations and associates are eliminated to the extent of AB InBev’s interest in the entity. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. A listing of the company’s most important subsidiaries, joint ventures, joint operations and associates is set out in Note 36 AB InBev companies (E) SUMMARY OF CHANGES IN ACCOUNTING POLICIES A number of new standards, amendment to standards and new interpretations became mandatory for the first time for the financial year beginning on 1 January 2020 and have not been listed in these consolidated financial statements as they either do not apply or are immaterial to AB InBev’s consolidated financial statements. In March 2020, the SEC amended its regulations regarding financial information of guarantors and issuers of guaranteed securities registered or being registered. We adopted these amendments for the year ended 31 December 2020, which included replacing guarantor condensed consolidating financial information with summarized financial information for the combined obligor group (Parent, Issuer and Guarantor Subsidiaries) in accordance with the amended regulations and no longer requiring guarantor cash flow information, financial information for non-guarantor subsidiaries, or a reconciliation to the consolidated results. The location of the required disclosures has been removed from the Notes to the Consolidated Financial Statements and moved to “ Item 5. Operating and Financial Review—G. Liquidity and Capital Resources—Guarantor Financial Information” (F) FOREIGN CURRENCIES Foreign currency transactions Foreign currency transactions are accounted for at exchange rates prevailing at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rates prevailing on the date of the balance sheet. Gains and losses resulting from the settlement of foreign currency transactions and from the translation of monetary assets and liabilities denominated in foreign currencies are recognized in the income statement. Non-monetary Non-monetary Translation of the results and financial position of foreign operations Assets and liabilities of foreign operations are translated to US dollar at foreign exchange rates prevailing at the balance sheet date. Income statements of foreign operations, excluding foreign entities in hyperinflationary economies, are translated to US dollar at exchange rates for the year approximating the foreign exchange rates prevailing at the dates of the transactions. The components of shareholders’ equity are translated at historical rates. Exchange differences arising from the translation of shareholders’ equity to US dollar at period-end Financial Reporting in hyperinflationary economies In May 2018, the Argentinean peso underwent a severe devaluation, causing Argentina´s three-year cumulative inflation to exceed 100% and thus, triggering the requirement to transition to hyperinflation accounting as prescribed by IAS 29 Financial Reporting in Hyperinflationary Economies Under IAS 29, non-monetary re-measured Consequently, the company applied hyperinflation accounting for its Argentinean subsidiaries for the first time in the year-to-date • Non-monetary Finance cost and income • The income statement is adjusted at the end of each reporting period using the change in the general price index. It is converted at the closing exchange rate of each period (rather than the year-to-date non-hyperinflationary year-to-date The 2020 results, restated for purchasing power, were translated at the December 2020 closing rate of 84.143520 Argentinean pesos per US dollar (2019 results – at 59.890668 Argentinean pesos per US dollar). Exchange rates The most important exchange rates that have been used in preparing the financial statements are: Closing rate Average rate 1 US dollar equals: 31 December 31 December 31 December 31 December 31 December 31 December Argentinean peso 84.143520 59.890668 37.807879 — — — Brazilian real 5.196694 4.030696 3.874806 5.133082 3.940998 3.634827 Canadian dollar 1.273981 1.299449 1.362882 1.346594 1.329140 1.293896 Colombian peso 3 438.52 3 272.63 3 246.70 3 689.50 3 305.84 2 967.36 Chinese yuan 6.537798 6.961461 6.877787 6.947936 6.886265 6.581607 Euro 0.814930 0.890155 0.873362 0.878101 0.892577 0.845697 Mexican peso 19.948838 18.845242 19.682728 21.182539 19.334915 19.195084 Pound sterling 0.732646 0.757344 0.781249 0.780195 0.784062 0.750773 Peruvian nuevo sol 3.621009 3.317006 3.369998 3.491580 3.346670 3.284477 South Korean won 1 088.02 1 154.54 1 115.40 1 185.02 1 160.69 1 095.46 South African rand 14.686598 14.044287 14.374909 16.213180 14.512975 13.105486 (G) INTANGIBLE ASSETS Research and development Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is recognized in the income statement as an expense as incurred. Expenditure on development activities, whereby research findings are applied to a plan or design for the production of new or substantially improved products and processes, is capitalized if the product or process is technically and commercially feasible, future economic benefits are probable and the company has sufficient resources to complete development. The expenditure capitalized includes the cost of materials, direct labor and an appropriate proportion of overheads. Other development expenditure is recognized in the income statement as an expense as incurred. Capitalized development expenditure is stated at cost less accumulated amortization (see below) and impairment losses (refer to accounting policy O). Amortization related to research and development intangible assets is included within the cost of sales if production related and in sales and marketing if related to commercial activities. Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets are capitalized as part of the cost of such assets. Supply and distribution rights A supply right is the right for AB InBev to supply a customer and the commitment by the customer to purchase from AB InBev. A distribution right is the right to sell specified products in a certain territory. Acquired distribution rights are measured initially at cost or fair value when obtained through a business combination. Amortization related to supply and distribution rights is included within sales and marketing expenses. Brands If part of the consideration paid in a business combination relates to trademarks, trade names, formulas, recipes or technological expertise these intangible assets are considered as a group of complementary assets that is referred to as a brand for which one fair value is determined. Expenditure on internally generated brands is expensed as incurred. Software Purchased software is measured at cost less accumulated amortization. Expenditure on internally developed software is capitalized when the expenditure qualifies as development activities; otherwise, it is recognized in the income statement when incurred. Amortization related to software is included in cost of sales, distribution expenses, sales and marketing expenses or administrative expenses based on the activity the software supports. Other intangible assets Other intangible assets, acquired by the company, are recognized at cost less accumulated amortization and impairment losses. Other intangible assets also include multi-year sponsorship rights acquired by the company. These are initially recognized at the present value of the future payments and subsequently measured at cost less accumulated amortization and impairment losses. Subsequent expenditure Subsequent expenditure on capitalized intangible assets is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditures are expensed as incurred. Amortization Intangible assets with a finite life are amortized using the straight-line method over their estimated useful lives. Licenses, brewing, supply and distribution rights are amortized over the period in which the rights exist. Brands are considered to have an indefinite life unless plans exist to discontinue the brand. Discontinuance of a brand can be either through sale or termination of marketing support. When AB InBev purchases distribution rights for its own products the life of these rights is considered indefinite, unless the company have a plan to discontinue the related brand or distribution. Software and capitalized development costs related to technology are amortized over 3 to 5 years. Brands are deemed intangible assets with indefinite useful lives and, therefore, are not amortized but tested for impairment on an annual basis (refer to accounting policy O). Gains and losses on sale Net gains on sale of intangible assets are presented in the income statement as other operating income. Net losses on sale are included as other operating expenses. Net gains and losses are recognized in the income statement when the control has been transferred to the buyer, recovery of the consideration is probable, the associated costs can be estimated reliably, and there is no continuing managerial involvement with the intangible assets. (H) BUSINESS COMBINATIONS The company applies the acquisition method of accounting to account for acquisitions of businesses. The cost of an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred and equity instruments issued. Identifiable assets, liabilities and contingent liabilities acquired or assumed are measured separately at their fair value as of the acquisition date. The excess of the cost of the acquisition over the company’s interest in the fair value of the identifiable net assets acquired is recorded as goodwill. The allocation of fair values to the identifiable assets acquired and liabilities assumed is based on various assumptions requiring management judgment. Acquisition-related costs are expensed as incurred. If the business combination is achieved in stages, the acquisition date carrying value of AB InBev’s previously held interest in the acquiree is re-measured re-measurement (I) GOODWILL Goodwill is determined as the excess of the consideration paid over AB InBev’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the acquired subsidiary, jointly controlled entity or associate recognized at the date of acquisition. All business combinations are accounted for by applying the purchase method. In conformity with IFRS 3 Business Combinations year-end If AB InBev’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognized exceeds the cost of the business combination such excess is recognized immediately in the income statement as required by IFRS 3 Business Combinations (J) PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is measured at cost less accumulated depreciation and impairment losses (refer to accounting policy O). Cost includes the purchase price and any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management (e.g. nonrefundable tax and transport cost). The cost of a self-constructed Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets are capitalized as part of the cost of such assets. Subsequent expenditure The company recognizes in the carrying amount of an item of property, plant and equipment the cost of replacing part of such an item when that cost is incurred if it is probable that the future economic benefits embodied with the item will flow to the company and the cost of the item can be measured reliably. All other costs are expensed as incurred. Depreciation The depreciable amount is the cost of an asset less its residual value. Residual values, if not insignificant, are reassessed annually. Depreciation is calculated from the date the asset is available for use, using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are defined in terms of the asset’s expected utility to the company and can vary from one geographical area to another. On average the estimated useful lives are as follows: Industrial buildings – other real estate properties 20 – 50 years Production plant and equipment: Production equipment 10 – 15 years Storage, packaging and handling equipment 5 – 7 years Returnable packaging: Kegs 2 – 10 years Crates 2 – 10 years Bottles 2 – 5 years Point of sale furniture and equipment 5 years Vehicles 5 years Information processing equipment 3 – 5 years Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment. Land is not depreciated as it is deemed to have an indefinite life. Gains and losses on sale Net gains on sale of items of property, plant and equipment are presented in the income statement as other operating income. Net losses on sale are presented as other operating expenses. Net gains and losses are recognized in the income statement when the control has been transferred to the buyer, recovery of the consideration is probable, the associated costs can be estimated reliably, and there is no continuing managerial involvement with the property, plant and equipment. (K) LEASES The company as lessee The company assesses whether a contract is or contains a lease at inception of a contract. The company recognizes a right-of-use The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the company uses its incremental borrowing rate specific to the country, term and currency of the contract. In addition, the company considers its recent debt issuances as well as publicly available data for instruments with similar characteristics when calculating the incremental borrowing rates. Lease payments include fixed payments, less any lease incentives, variable lease payments that depend on an index or a rate known at the commencement date, and purchase options or extension option payments if the company is reasonably certain to exercise these options. Variable lease payments that do not depend on an index or rate are not included in the measurement of the lease liability and right-of-use A lease liability is remeasured upon a change in the lease term, changes in an index or rate used to determine the lease payments or reassessment of exercise of a renewal and/or purchase option. The corresponding adjustment is made to the related right-of-use The right-of-use right-of-use The lease liability is presented in the ‘Interest-bearing loans and borrowings’ line and the right-of-use The company as lessor Leases where the company transfers substantially all the risks and rewards of ownership to the lessee are classified as finance leases. Leases of assets under which all the risks and rewards of ownership are substantially retained by the company are classified as operating leases. Rental income is recognized in other operating income on a straight-line basis over the term of the lease. (L) INVENTORIES Inventories are valued at the lower of cost and net realizable value. Cost includes expenditure incurred in acquiring the inventories and bringing them to their existing location and condition. The weighted average method is used in assigning the cost of inventories. The cost of finished products and work in progress comprises raw materials, other production materials, direct labor, other direct cost and an allocation of fixed and variable overhead based on normal operating capacity. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated completion and selling costs. Inventories are written down on a case-by-case (M) TRADE AND OTHER RECEIVABLES Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business and generally due for settlement within 30 days. Trade receivables are recognized initially at the amount of the consideration that is unconditional unless they contain significant financing components, when they are recognized at the amount adjusted for the time value of money. The company holds trade and other receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest rate method. Trade and other receivables are carried at amortized cost less impairment losses. To determine the appropriate amount to be impaired factors such as significant financial difficulties of the debtor, probability that the debtor will default, enter into bankruptcy or financial reorganization, or delinquency in payments are considered. Other receivables are initially recognized at fair value and subsequently measured at amortized cost. Any impairment losses and foreign exchange results are directly recognized in profit or loss. (N) CASH AND CASH EQUIVALENTS Cash and cash equivalents include all cash balances and short-term highly liquid investments with a maturity of three months or less from the date of acquisition that are readily convertible into cash. They are stated at face value, which approximates their fair value. In the cash flow statement, cash and cash equivalents are presented net of bank overdrafts. (O) IMPAIRMENT The carrying amounts of property, plant and equipment, goodwill and intangible assets are reviewed at each balance sheet date to determine whether there is any indication of impairment. If there is an indicator of impairment, the asset’s recoverable amount is estimated. In addition, goodwill, intangible assets that are not yet available for use and intangibles with an indefinite useful life are tested for impairment annually at the cash-generating unit level (that is a country or group of countries managed as a group below a reporting region). An impairment loss is recognized whenever the carrying amount of an asset or the related cash-generating unit exceeds its recoverable amount. Impairment losses are recognized in the income statement. Calculation of recoverable amount The recoverable amount of non-financial Impairment losses recognized in respect of cash-generating units firstly reduce allocated goodwill and then the carrying amounts of the other assets in the unit on a pro rata basis. Reversal of impairment losses Non-financial (P) FAIR VALUE MEASUREMENT A number of AB InBev’s accounting policies and notes require fair value measurement for both financial and non-financial Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When measuring fair value, AB InBev uses observable market data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows: • Level 1: inputs are unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2: inputs are observable either directly (i.e. as prices) or indirectly (i.e. derived from prices). • Level 3: fair value measurements incorporates significant inputs that are based on unobservable market data. If the inputs used to measure the fair value of an asset or liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. The company applies fair value measurement to the instruments listed below. Derivatives The fair value of exchange traded derivatives (e.g. exchange traded foreign currency futures) is determined by reference to the official prices published by the respective exchanges (e.g. the New York Board of Trade). The fair value of over-the-counter Debt securities This category includes both debt securities designated at FVOCI and FVPL. The fair value is measured using observable inputs such as interest rates and foreign exchange rates. When it pertains to instruments that are publicly traded, the fair value is determined by reference to observable quotes. In circumstances where debt securities are not publicly traded, the main valuation technique is the discounted cash flow. The company may apply other valuation techniques or combination of valuation techniques if the fair value results are more relevant. Equity securities designated as at FVOCI Investments in equity securities comprise quoted and unquoted securities. When liquid quoted prices are available, these are used to fair value investments in quoted securities. The unquoted securities are fair valued using primarily the discounted cash flow method. Non-derivative The fair value of non-derivative (Q) SHARE CAPITAL Repurchase of share capital When AB InBev buys back its own shares, the amount of the consideration paid, including directly attributable costs, is recognized as a deduction from equity under treasury shares. Dividends Dividends paid are recognized in the consolidated financial statements on the date that the dividends are declared unless minimum statutory dividends are required by local legislation or the bylaws of the company’s subsidiaries. In such instances, statutory minimum dividends are recognized as a liability. Share issuance costs Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. (R) PROVISIONS Provisions are recognized when (i) the company has a present legal or constructive obligation as a result of past events, (ii) it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and (iii) a reliable estimate of the amount of the obligation can be made. Provisions are determined by discounting the expected future cash flows at a pre-tax Restructuring A provision for restructuring is recognized when the company has approved a detailed and formal restructuring plan, and the restructuring has either commenced or has been announced publicly. Costs relating to the ongoing activities of the company are not provided for. The provision includes the benefit commitments in connection with early retirement and redundancy schemes. Onerous contracts A provision for onerous contracts is recognized when the expected benefits to be derived by the company from a contract are lower than the unavoidable cost of meeting its obligations under the contract. Such provision is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract. Disputes and Litigations A provision for disputes and litigation is recognized when it is more likely than not that the company will be required to make future payments as a result of past events, such items may include but are not limited to, several claims, suits and actions relating to antitrust laws, violations of distribution and license agreements, environmental matters, employment related disputes, claims from tax authorities related to indirect taxes, and alcohol industry litigation matters. (S) EMPLOYEE BENEFITS Post-employment benefits Post-employment benefits include pensions, post-employment life insurance and post-employment medical benefits. The company operates a number of defined benefit and defined contribution plans throughout the world, the assets of which are generally held in separate trustee-managed funds. The pension plans are generally funded by payments from employees and the company, and, for defined benefit plans taking account of the recommendations of independent actuaries. AB InBev maintains funded and unfunded pension plans. a) Defined contribution plans Contributions to defined contribution plans are recognized as an expense in the income statement when incurred. A defined contribution plan is a pension plan under which AB InBev pays fixed contributions into a fund. AB InBev has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. b) Defined benefit plans A defined benefit plan is a pension plan that is not a defined contribution plan. Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation. For defined benefit plans, the pension expenses are assessed separately for each plan using the projected unit credit method. The projected unit credit method considers each period of service as giving rise to an additional unit of benefit entitlement. Under this method, the cost of providing pensions is charged to the income statement so as to spread the regular cost over the service lives of employees in accordance with the advice of qualified actuaries who carry out a full valuation of the plans at least every three years. The amounts charged to the income statement include current service cost, net interest cost (income), past service costs and the effect of any curtailments or settlements. Past service costs are recognized at the earlier of when the amendment / curtailment occurs or when the company recognizes related restructuring or termination costs. The pension obligations recognized in the balance sheet are measured at the present value of the estimated future cash outflows using interest rates based on high quality corporate bond yields, which have terms to maturity approximating the terms of the related liability, less the fair value of any plan assets. Re-measurements, Re-measurements Where the calculated amount of a defined benefit liability is negative (an asset), AB InBev recognizes such pen |
Use of estimates and judgments
Use of estimates and judgments | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Use of estimates and judgments | 4. Use of estimates and judgments The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. These estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or, if the revision affects both current and future periods, in the period of the revision and future periods. Although each of its significant accounting policies reflects judgments, assessments or estimates, AB InBev believes that the following accounting policies reflect the most critical judgments, estimates and assumptions that are important to its business operations and understanding results: business combinations, intangible assets, goodwill, impairment, provisions, share-based payments, employee benefits and accounting for current and deferred tax. The fair values of acquired identifiable intangibles are based on an assessment of future cash flows. Impairment analyses of goodwill and indefinite-lived intangible assets are performed annually and whenever a triggering event has occurred, in order to determine whether the carrying value exceeds the recoverable amount. These calculations are based on estimates of future cash flows. The company uses its judgment to select a variety of methods including the discounted cash flow method and option valuation models and makes assumptions about the fair value of financial instruments that are mainly based on market conditions existing at each balance sheet date. Actuarial assumptions are established to anticipate future events and are used in calculating pension and other long-term employee benefit expenses and liabilities. These factors include assumptions with respect to interest rates, rates of increase in health care costs, rates of future compensation increases, turnover rates, and life expectancy. The company is subject to income tax in numerous jurisdictions. Significant judgment is required to determine the worldwide provision for income tax. There are some transactions and calculations for which the ultimate tax determination is uncertain. Some subsidiaries within the group are involved in tax audits and local enquiries usually in relation to prior years. Investigations and negotiations with local tax authorities are ongoing in various jurisdictions at the balance sheet date and, by their nature, these can take considerable time to conclude. In assessing the amount of any income tax provisions to be recognized in the financial statements, estimates are made of the expected successful settlement of these matters. Estimates of interest and penalties on tax liabilities are also recorded. Where the final outcome of these matters is different from the amounts that were initially recorded, such differences will impact the current and deferred income tax assets and liabilities in the period that such determination is made. Judgments made by management in the application of IFRS that have a significant effect on the financial statements and estimates with a significant risk of material adjustment in the following year are further discussed in the relevant notes hereafter. In preparing these consolidated financial statements, the significant judgments made by management in applying the company’s accounting policies and the key sources of uncertainty relate mainly to the following: accounting for the COVID-19 US-based (A) COVID-19 The company’s business, financial condition, cash flows and operating results have been and may continue to be negatively impacted by the COVID-19 COVID-19 non-variable COVID-19 Exceptional items Goodwill, Trade and other receivables Inventories Management considered the impact of COVID-19 Cash and cash equivalents Interest-bearing loans and borrowings Risks arising from financial instruments Goodwill impairment The COVID-19 COVID-19 Impairment of Assets During its interim goodwill impairment testing, the company considered several scenarios of the recovery of sales for the different cash-generating units being tested and ran sensitivity analysis for key assumptions including the weighted average cost of capital and the terminal growth rate. These scenarios were based on management’s assumptions by 30 June 2020, on the recovery in a base case (which the company deemed to be the most likely case at the time of the impairment test), a best case and a worst case scenario per cash generating unit following the common recovery shapes: L, U and V where the letters describe the trajectory of key assumptions tracking economic conditions. In view of the uncertainties, management assumed a 15 to 30% probability for the worst case scenario, dependent on the cash generating units in this interim impairment testing. Based upon the results of the impairment test and considering the assumptions described in Note 14 Goodwill Goodwill The company did not recognize any additional impairment of goodwill based on the results of its annual impairment testing conducted in the fourth quarter of 2020. COVID-19 As required by IAS 1 Presentation of financial statements, COVID-19 COVID-19 Exceptional items (B) DIVESTITURE OF AUSTRALIA BUSINESS TO ASAHI On 19 July 2019, AB InBev announced an agreement to divest its Australia business (Carlton & United Breweries (“CUB”)) to Asahi at 16 billion AUD in enterprise value. As part of this transaction, the company granted Asahi rights to commercialize its portfolio of global and international brands in Australia. The transaction closed on 1 June 2020. As of 31 December 2019, AB InBev classified the assets and liabilities associated with the Australian operations as assets held for sale and liabilities associated with assets held for sale in accordance with IFRS 5 Non-current Assets classified as held for sale, liabilities associated with assets held for sale and discontinued operations Assets classified as held for sale, liabilities associated with assets held for sale and discontinued operations (C) ISSUANCE OF MINORITY STAKE IN US-BASED On 31 December 2020, AB InBev completed the issuance of a 49.9% minority stake in its US-based US-based As required by IFRS 10 Consolidated Financial Statements Non-controlling Changes in equity and earnings per share . The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. These estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or, if the revision affects both current and future periods, in the period of the revision and future periods. Although each of its significant accounting policies reflects judgments, assessments or estimates, AB InBev believes that the following accounting policies reflect the most critical judgments, estimates and assumptions that are important to its business operations and understanding results: business combinations, intangible assets, goodwill, impairment, provisions, share-based payments, employee benefits and accounting for current and deferred tax. The fair values of acquired identifiable intangibles are based on an assessment of future cash flows. Impairment analyses of goodwill and indefinite-lived intangible assets are performed annually and whenever a triggering event has occurred, in order to determine whether the carrying value exceeds the recoverable amount. These calculations are based on estimates of future cash flows. The company uses its judgment to select a variety of methods including the discounted cash flow method and option valuation models and makes assumptions about the fair value of financial instruments that are mainly based on market conditions existing at each balance sheet date. Actuarial assumptions are established to anticipate future events and are used in calculating pension and other long-term employee benefit expenses and liabilities. These factors include assumptions with respect to interest rates, rates of increase in health care costs, rates of future compensation increases, turnover rates, and life expectancy. The company is subject to income tax in numerous jurisdictions. Significant judgment is required to determine the worldwide provision for income tax. There are some transactions and calculations for which the ultimate tax determination is uncertain. Some subsidiaries within the group are involved in tax audits and local enquiries usually in relation to prior years. Investigations and negotiations with local tax authorities are ongoing in various jurisdictions at the balance sheet date and, by their nature, these can take considerable time to conclude. In assessing the amount of any income tax provisions to be recognized in the financial statements, estimates are made of the expected successful settlement of these matters. Estimates of interest and penalties on tax liabilities are also recorded. Where the final outcome of these matters is different from the amounts that were initially recorded, such differences will impact the current and deferred income tax assets and liabilities in the period that such determination is made. Judgments made by management in the application of IFRS that have a significant effect on the financial statements and estimates with a significant risk of material adjustment in the following year are further discussed in the relevant notes hereafter. In preparing these consolidated financial statements, the significant judgments made by management in applying the company’s accounting policies and the key sources of uncertainty relate mainly to the following: accounting for the COVID-19 US-based (A) COVID-19 The company’s business, financial condition, cash flows and operating results have been and may continue to be negatively impacted by the COVID-19 COVID-19 non-variable COVID-19 Exceptional items Goodwill, Trade and other receivables Inventories Management considered the impact of COVID-19 Cash and cash equivalents Interest-bearing loans and borrowings Risks arising from financial instruments Goodwill impairment The COVID-19 COVID-19 Impairment of Assets During its interim goodwill impairment testing, the company considered several scenarios of the recovery of sales for the different cash-generating units being tested and ran sensitivity analysis for key assumptions including the weighted average cost of capital and the terminal growth rate. These scenarios were based on management’s assumptions by 30 June 2020, on the recovery in a base case (which the company deemed to be the most likely case at the time of the impairment test), a best case and a worst case scenario per cash generating unit following the common recovery shapes: L, U and V where the letters describe the trajectory of key assumptions tracking economic conditions. In view of the uncertainties, management assumed a 15 to 30% probability for the worst case scenario, dependent on the cash generating units in this interim impairment testing. Based upon the results of the impairment test and considering the assumptions described in Note 14 Goodwill Goodwill The company did not recognize any additional impairment of goodwill based on the results of its annual impairment testing conducted in the fourth quarter of 2020. COVID-19 As required by IAS 1 Presentation of financial statements, COVID-19 COVID-19 Exceptional items (B) DIVESTITURE OF AUSTRALIA BUSINESS TO ASAHI On 19 July 2019, AB InBev announced an agreement to divest its Australia business (Carlton & United Breweries (“CUB”)) to Asahi at 16 billion AUD in enterprise value. As part of this transaction, the company granted Asahi rights to commercialize its portfolio of global and international brands in Australia. The transaction closed on 1 June 2020. As of 31 December 2019, AB InBev classified the assets and liabilities associated with the Australian operations as assets held for sale and liabilities associated with assets held for sale in accordance with IFRS 5 Non-current Assets classified as held for sale, liabilities associated with assets held for sale and discontinued operations Assets classified as held for sale, liabilities associated with assets held for sale and discontinued operations (C) ISSUANCE OF MINORITY STAKE IN US-BASED On 31 December 2020, AB InBev completed the issuance of a 49.9% minority stake in its US-based US-based As required by IFRS 10 Consolidated Financial Statements Non-controlling Changes in equity and earnings per share . |
Segment reporting
Segment reporting | 12 Months Ended |
Dec. 31, 2020 | |
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Segment reporting | 5. Segment reporting Segment information is presented by geographical segments, consistent with the information available to and regularly evaluated by the chief operating decision maker. AB InBev operates its business through six business segments. Regional and operating company management is responsible for managing performance, underlying risks, and the effectiveness of operations. Internally, AB InBev’s management uses performance indicators such as normalized profit from operations (normalized EBIT) and normalized EBITDA as measures of segment performance and to make decisions regarding the allocation of resources. The organizational structure effective as of 1 January 2019 comprises five regions: North America, Middle Americas, South America, EMEA and Asia Pacific. In addition to these five geographic regions, the company uses a sixth segment, Global Export and Holding Companies, for all financial reporting purposes. In 2019, AB InBev restated the 2018 results (referred to as “2018 restated”) to reflect: • the new company organizational structure effective 1 January 2019; • the new IFRS rules on lease accounting as if the company had applied the new standard as of 1 January 2018; and • the classification of the Australian operations as a disposal group held for sale as if the classification had been applied as of 1 January 2018, in line with IFRS rules. On 19 July 2019, AB InBev announced the agreement to divest CUB, its Australian subsidiary, to Asahi. Consequently, as at 31 December 2019, the company classified the assets and liabilities associated with the Australian operations as assets held for sale and liabilities associated with assets held for sale, respectively. In addition, since the results of the Australian operations represented a separate major line of business, these were accounted for as discontinued operations (“profit from discontinued operations”) up to 31 May 2020. The transaction closed on 1 June 2020. All figures in the tables below are stated in million US dollar, except volume (million hls) and Normalized EBITDA margin (in %). North America Middle Americas South America EMEA Asia Pacific 2020 2019 2018 2020 2019 2018 2020 2019 2018 2020 2019 2018 2020 2019 2018 Volume 107 108 111 121 134 129 144 140 136 76 86 87 82 93 96 Revenue 15 622 15 488 15 504 10 032 11 912 11 614 8 092 9 790 10 238 6 835 7 911 8 368 5 648 6 544 6 735 Normalized EBITDA 6 172 6 185 6 199 5 014 6 356 6 033 3 179 4 145 4 696 1 895 2 781 3 184 1 737 2 287 2 178 Normalized EBITDA margin % 39.5 % 39.9 % 40.0 % 50.0 % 53.4 % 51.9 % 39.3 % 42.3 % 45.9 % 27.7 % 35.2 % 38.1 % 30.8 % 35.0 % 32.3 % Depreciation, amortization and impairment (803 ) (833 ) (834 ) (1 017 ) (921 ) (844 ) (767 ) (955 ) (1 008 ) (988 ) (974 ) (936 ) (646 ) (648 ) (734 ) Normalized profit from operations (EBIT) 5 369 5 352 5 365 3 997 5 435 5 189 2 412 3 190 3 688 907 1 807 2 248 1 091 1 639 1 444 Exceptional items (see Note 8) (222 ) (11 ) (10 ) (112 ) (51 ) (151 ) (62 ) (96 ) 1 (2 629 ) (61 ) (370 ) (29 ) (41 ) (43 ) Profit from operations (EBIT) 5 147 5 341 5 355 3 885 5 384 5 038 2 350 3 094 3 689 (1 722 ) 1 746 1 878 1 062 1 598 1 401 Net finance income/(cost) Share of results of associates and joint ventures Income tax expense Profit from continuing operations Discontinued operations results Profit/(loss) Segment assets (non-current) 63 765 63 725 63 443 72 331 76 168 71 844 12 348 13 452 13 250 35 578 39 442 42 874 13 845 13 450 22 545 Gross capex 646 679 917 829 1 286 1 324 727 1 063 777 768 1 208 1 163 508 626 599 FTE 20 281 20 040 19 323 48 751 52 412 53 140 40 630 41 603 40 503 22 357 23 804 23 604 26 510 29 482 31 523 Global Export and Holding AB InBev Worldwide 2020 2019 2018 2020 2019 2018 Volume 1 1 1 531 561 560 Revenue 652 685 582 46 881 52 329 53 041 Normalized EBITDA (677 ) (676 ) (558 ) 17 321 21 078 21 732 Normalized EBITDA margin % — — — 36.9 % 40.3 % 41.0 % Depreciation, amortization and impairment (376 ) (325 ) (269 ) (4 598 ) (4 657 ) (4 624 ) Normalized profit from operations (EBIT) (1 053 ) (1 001 ) (827 ) 12 723 16 421 17 107 Exceptional items (see Note 8) (50 ) (63 ) (119 ) (3 103 ) (323 ) (692 ) Profit from operations (EBIT) (1 103 ) (1 064 ) (946 ) 9 620 16 098 16 414 Net finance income/(cost) (7 697 ) (3 473 ) (8 826 ) Share of results of associates 156 152 153 Income tax expense (1 932 ) (2 786 ) (2 585 ) Profit from continuing operations 147 9 990 5 157 Discontinued operations results 2 055 424 531 Profit/(loss) 2 202 10 414 5 688 Segment assets (non-current) 2 024 1 597 1 631 199 891 207 834 215 587 Gross capex 303 312 224 3 781 5 174 5 005 FTE 5 166 4 574 4 683 163 695 171 915 172 776 For the year ended 31 December 2020, net revenue from the beer business amounted to 43 044m US dollar (31 December 2019: 47 984m US dollar; 31 December 2018: 48 602m US dollar) while the net revenue from the non-beer On the same basis, net revenue from external customers attributable to AB InBev’s country of domicile (Belgium) represented 501m US dollar (31 December 2019: 668m US dollar; 31 December 2018: 710m US dollar) and non-current |
Acquisitions and disposals of s
Acquisitions and disposals of subsidiaries | 12 Months Ended |
Dec. 31, 2020 | |
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Acquisitions and disposals of subsidiaries | 6. Acquisitions and disposals of subsidiaries The table below summarizes the impact of acquisitions and disposals on the statement of financial position and cash flows of AB InBev for the year ended 31 December 2020 and 31 December 2019: Million US dollar 2020 2019 2020 2019 Non-current Property, plant and equipment 149 44 — (1 ) Intangible assets 162 128 — (29 ) Investments in associates (7 ) (15 ) — — Current assets Inventories 33 43 — (7 ) Trade and other receivables 9 19 — (1 ) Cash and cash equivalents 5 40 — — Non-current Interest-bearing loans and borrowings (74 ) (11 ) — — Trade and other payables (34 ) (110 ) — — Deferred tax liabilities (6 ) (33 ) — 9 Current liabilities Interest-bearing loans and borrowings (4 ) — — — Trade and other payables (59 ) (65 ) — 2 Net identifiable assets and liabilities 174 40 — (27 ) Non-controlling — (12 ) — 2 Goodwill on acquisitions and goodwill disposed of 185 682 — (22 ) Loss/(gain) on disposal — — — (21 ) Consideration to be (paid)/received (14 ) (275 ) — — Net cash paid/(received) on prior years acquisitions/(disposals) 170 16 — (65 ) Consideration paid/(received) 515 451 — (133 ) Cash (acquired)/disposed of (5 ) (40 ) — — Net cash outflow / (inflow) 510 411 — (133 ) Net cash outflow / (inflow) on continuing operations 510 385 — (133 ) Net cash outflow / (inflow) on discontinued operations — 26 — — On 1 June 2020, AB InBev completed the divestiture of CUB to Asahi – see Note 22 Assets classified as held for sale, liabilities associated with assets held for sale and discontinued operations On 30 September 2020, AB InBev completed the acquisition of the remaining 68.8% shares of Craft Brew Alliance for the net consideration of 0.2 billion US dollar and hence obtained 100% control over the acquiree. The company undertook a series of additional acquisitions and disposals during 2020 and 2019, with no significant impact in the company’s consolidated financial statements. |
Other operating income_(expense
Other operating income/(expenses) | 12 Months Ended |
Dec. 31, 2020 | |
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Other operating income/(expenses) | 7. Other operating income/(expenses) Million US dollar 2020 2019 2018 Brazilian tax credits 481 — — Government grants 227 280 317 Net gain on disposal of property, plant and equipment, intangible assets and assets held for sale 56 172 80 License income 22 30 45 Net (additions to)/reversals of provisions (14 ) (10 ) (11 ) Net rental and other operating income 72 402 374 Other operating income/(expenses) 845 875 805 In the fourth quarter of 2020, Ambev, a subsidiary of AB InBev, concluded the calculation of its tax credits on a judicial decision related to the exclusion of the Value-Added Tax (ICMS) from the taxable basis of the social contribution on gross revenues (PIS and COFINS). The decision refers to the period between November 2009 and April 2015. As a result of this judicial decision and other tax credit adjustments, Ambev recognized 481m US dollar income in Other operating income and 315m US dollar of interest income in Finance income (refer to Note 11 Finance cost and income The income from government grants primarily relate to fiscal incentives given by certain Brazilian states and Chinese provinces, based on the company’s operations and developments in those regions. Net gain on disposal of property, plant and equipment, intangible assets and assets held for sale, and net rental and other operating income decreased to 128m US dollar in 2020 as a result of the COVID-19 In 2020, the company expensed 296m US dollar in research, compared to 291m US dollar in 2019 and 276m US dollar in 2018. The spend focused on product innovations, market research, as well as process optimization and product development. |
Exceptional items
Exceptional items | 12 Months Ended |
Dec. 31, 2020 | |
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Exceptional items | 8. Exceptional items IAS 1 Presentation of financial statements Segment Reporting The exceptional items included in the income statement are as follows: Million US dollar 2020 2019 2018 Impairment of goodwill (2 500 ) — — COVID-19 (182 ) — — Restructuring (157 ) (170 ) (363 ) Business and asset disposal (including exceptional impairment losses) (239 ) (50 ) (26 ) Acquisition costs business combinations (25 ) (23 ) (73 ) Brazil State tax regularization program — (74 ) — Cost related to public offering of minority stake in Budweiser APAC — (6 ) — Provision for EU investigation — — (230 ) Impact on profit from operations (3 103 ) (323 ) (692 ) Gain on disposal of Australia 1 919 — — Impact on profit from discontinued operations (1 184 ) — — In the second quarter of 2020, the company recognized (2 500)m US dollar of goodwill impairment for its South Africa and Rest of Africa cash-generating units (see Note 4 Use of estimates and judgments Goodwill COVID-19 COVID-19 The exceptional restructuring charges for the year ended 31 December 2020 total (157)m US dollar (31 December 2019: (170)m US dollar; 31 December 2018: (363)m US dollar). These charges primarily relate to organizational alignments. These changes aim to eliminate overlapping organizations or duplicated processes, taking into account the matching of employee profiles with new organizational requirements. These one-time Business and asset disposals amount to (239)m US dollar for the year ended 31 December 2020 mainly comprising impairment of tangible assets classified as held for sale as of 31 December 2020, intangible assets sold in 2020 and other intangibles. Business and asset disposals amounted to (50)m US dollar for the year ended 31 December 2019, mainly comprising of costs incurred in relation to the completion of 2018 disposals. Business and asset disposals amounted to (26)m US dollar in 2018, mainly related to the costs incurred related to the IFRS treatment of the 50:50 merger of AB InBev’s and Anadolu Efes’ Russia and Ukraine businesses and the related transaction costs. The acquisition costs of business combinations amount to (25)m US dollar for the year ended 31 December 2020 and mainly relate to the acquisition of Craft Brew Alliance. The acquisition costs of business combinations amounted to (23)m US dollar for the year ended 31 December 2019, primarily related to costs incurred to facilitate the combination with SAB (31 December 2018: (73)m US dollar). In 2019, Ambev made a payment of (74)m US dollar to the State of Mato Grosso in relation to the Special Value-added Tax (ICMS) Amnesty Program in Brazil in accordance with the Brazilian State Tax Regularization Program. For the year ended 31 December 2019, the company incurred (117)m US dollar of fees related to the initial public offering of a minority stake of its Asia Pacific subsidiary, Budweiser APAC, of which (6)m US dollar were reported in the income statement and (111)m US dollar were capitalized in equity. In addition, AB InBev also reported (58)m US dollar stamp duties in equity that are directly attributable to the public offering of Budweiser APAC. In 2016, the European Commission announced an investigation into alleged abuse of a dominant position by AB InBev in Belgium through certain practices aimed at restricting trade from other European Union member states to Belgium. In connection with these proceedings, a provision of 230m US was recognized in 2018 and settled in 2019. Refer also to Note 27 Provisions. On 1 June 2020, the company completed the previously announced sale of CUB to Asahi resulting in a net exceptional gain of 1 919m US dollar reported in discontinued operations. For more details, refer to Note 22 Assets classified as held for sale, liabilities associated with assets held for sale and discontinued operations The company incurred an exceptional net finance cost of (1 738)m US dollar for the year ended 31 December 2020 (31 December 2019: net finance income of 882m US dollar; 31 December 2018: net finance cost of (1 982)m US dollar) – see Note 11 Finance cost and income All the amounts referenced above are before income taxes. The exceptional items for the year ended 31 December 2020 decreased income taxes by 155m US dollar (31 December 2019: increase of income taxes by 6m US dollar; 31 December 2018: decrease of income taxes by 240m US dollar). Non-controlling |
Payroll and related benefits
Payroll and related benefits | 12 Months Ended |
Dec. 31, 2020 | |
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Payroll and related benefits | 9. Payroll and related benefits Million US dollar 2020 2019 2018 Wages and salaries (4 124 ) (4 563 ) (4 638 ) Social security contributions (582 ) (683 ) (694 ) Other personnel cost (637 ) (678 ) (708 ) Pension expense for defined benefit plans (218 ) (193 ) (192 ) Share-based payment expense (169 ) (340 ) (353 ) Contributions to defined contribution plans (91 ) (101 ) (109 ) Payroll and related benefits (5 821 ) (6 558 ) (6 694 ) The number of full time equivalents can be split as follows: 2020 2019 2018 AB InBev NV/SA (parent company) 204 204 180 Other subsidiaries 163 491 171 711 172 596 Total number of FTE 163 695 171 915 172 776 |
Additional information on opera
Additional information on operating expenses by nature | 12 Months Ended |
Dec. 31, 2020 | |
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Additional information on operating expenses by nature | 10. Additional information on operating expenses by nature Depreciation, amortization and impairment charges are included in the following line items of the 2020 consolidated income statement: Million US dollar Depreciation and Amortization and Depreciation and right-of-use asset Impairment of Cost of sales 2 625 91 16 — Distribution expenses 141 3 108 — Sales and marketing expenses 339 291 224 — Administrative expenses 310 323 125 — Other operating expenses 3 — — — Exceptional items — — — 2 733 Depreciation, amortization and impairment 3 418 708 473 2 733 Depreciation, amortization and impairment charges are included in the following line items of the 2019 consolidated income statement: Million US dollar Depreciation and Amortization and Depreciation and right-of-use asset Impairment of Cost of sales 2 751 86 11 — Distribution expenses 155 4 191 — Sales and marketing expenses 379 247 160 — Administrative expenses 277 290 98 — Other operating expenses 8 — — — Depreciation, amortization and impairment 3 570 627 460 — Depreciation, amortization and impairment charges are included in the following line items of the 2018 restated consolidated income statement: Million US dollar (restated) Depreciation and Amortization and Depreciation and right-of-use asset Impairment of Cost of sales 2 807 67 — — Distribution expenses 166 3 186 — Sales and marketing expenses 414 165 153 — Administrative expenses 285 254 116 — Other operating expenses 8 — — — Depreciation, amortization and impairment 3 680 489 455 — The depreciation, amortization and impairment of property, plant and equipment included a full-cost reallocation of (5)m US dollar in 2020 from the aggregate depreciation, amortization and impairment expense to cost of goods sold (2019: 5m US dollar; 2018: 1m US dollar). |
Finance cost and income
Finance cost and income | 12 Months Ended |
Dec. 31, 2020 | |
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Finance cost and income | 11. Finance cost and income The finance cost and income included in the income statement are as follows: Million US dollar 2020 2019 2018 Interest expense (4 016 ) (4 168 ) (4 141 ) Capitalization of borrowing costs 12 19 23 Net interest on net defined benefit liabilities (82 ) (95 ) (94 ) Accretion expense (564 ) (650 ) (511 ) Net losses on hedging instruments that are not part of a hedge accounting relationship (502 ) (393 ) (449 ) Net foreign exchange results (net of the effect of foreign exchange derivative instruments) — (180 ) — Tax on financial transactions (103 ) (79 ) (110 ) Net mark-to-market (1 — (1 Other financial costs, including bank fees (135 ) (225 ) (242 ) Finance cost excluding exceptional items (6 601 ) (5 771 ) (7 298 ) Exceptional finance cost (1 818 ) (222 ) (1 982 ) Finance cost (8 419 ) (5 993 ) (9 280 ) Interest income 150 292 326 Interest income on Brazilian tax credits 315 118 7 Hyperinflation monetary adjustments 76 86 46 Market-to-market — 898 — Net foreign exchange results (net of the effect of foreign exchange derivative instruments) 43 — 19 Other financial income 58 21 56 Finance income excluding exceptional items 642 1 415 454 Exceptional finance income 80 1 104 — Finance income 722 2 519 454 Net finance income/(cost) excluding exceptional items (5 959 ) (4 355 ) (6 844 ) Net finance income/(cost) (7 697 ) (3 473 ) (8 826 ) Net finance costs, excluding exceptional items, were 5 959m US dollar in 2020 compared to 4 355m US dollar in 2019 and 6 844m US dollar in 2018. The increase was predominantly due to a mark-to-market mark-to-market Borrowing costs capitalized relate to the capitalization of interest expenses directly attributable to the acquisition and construction of qualifying assets mainly in China. Interest is capitalized at a borrowing rate ranging from 3% to 4%. In 2020, accretion expense mainly includes interest on lease liabilities of 116m US dollar (2019: 124m US dollar; 2018: 111m US dollar), unwind of discounts of 306m US dollar (2019: 374m US dollar; 2018: 245m US dollar), bond fees of 102m US dollar (2019: 110m US dollar; and 2018: 116m US dollar), interest on provisions of 41m US dollar (2019: 42m US dollar; 2018: 38m US dollar). Interest expenses are presented net of the effect of interest rate derivative instruments hedging AB InBev’s interest rate risk – see also Note 29 Risks arising from financial instruments In the fourth quarter of 2020, Ambev, a subsidiary of AB InBev, concluded the calculation of its tax credits on a judicial decision related to the exclusion of the Value-Added Tax (ICMS) from the taxable basis of the social contribution on gross revenues (PIS and COFINS). The decision refers to the period between November 2009 and April 2015. As a result of this judicial decision and other tax credit adjustments, Ambev recognized 481m US dollar income in Other operating income (refer to Note 7 Other operating income/(expenses) Exceptional finance income/cost for 2020 includes: • 1 008m US dollar loss resulting from mark-to-market • 795m US dollar loss resulting from the early termination of certain bonds (2019: 84m US dollar gain; 2018: 260m US dollar loss); • 15m US dollar loss write-off • 80m US dollar gain related to remeasurement of deferred considerations on prior year acquisitions (2019: 90m US dollar gain; 2018: nil). Besides the items mentioned above, the exceptional finance income/cost for 2019 includes: • 34m US dollar loss on interest paid to the State of Mato Grosso in relation to the Special Value-added Tax (ICMS) Amnesty Program in Brazil in accordance with the Brazilian State Tax Regularization Program. • 52m US dollar foreign exchange translation gain on intragroup loans that were historically reported in equity and were recycled to profit and loss account upon the reimbursement of these loans. No interest income was recognized on impaired financial assets. The interest income stems from the following financial assets: Million US dollar 2020 2019 2018 Cash and cash equivalents 103 237 256 Investment debt securities held for trading 1 9 22 Other loans and receivables 46 46 48 Total 150 292 326 The interest income on other loans and receivables includes the interest accrued on cash deposits as guarantees for certain legal proceedings pending resolution. For further information on instruments hedging AB InBev’s foreign exchange risk see Note 29 Risks arising from financial instruments. |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2020 | |
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Income taxes | 12. Income taxes Income taxes recognized in the income statement can be detailed as follows: Million US dollar 2020 2019 2018 Current year (2 082 ) (2 863 ) (2 704 ) (Underprovided)/overprovided in prior years 119 58 101 Current tax expense (1 963 ) (2 805 ) (2 603 ) Origination and reversal of temporary differences (30 ) (21 ) (148 ) (Utilization)/recognition of deferred tax assets on tax losses 13 13 120 Recognition of previously unrecognized tax losses 48 27 46 Deferred tax (expense)/income 31 19 18 Total income tax expense (1 932 ) (2 786 ) (2 585 ) The reconciliation of the effective tax rate with the aggregated weighted nominal tax rate can be summarized as follows: Million US dollar 2020 2019 2018 Profit before tax 2 079 12 776 7 741 Deduct share of results of associates and joint ventures 156 152 153 Profit before tax and before share of results of associates and joint ventures 1 924 12 624 7 588 Adjustments to the tax basis Government incentives (428 ) (709 ) (742 ) Non-deductible/(non-taxable) 2 219 (1 776 ) 3 496 Non-deductible 2 500 — Other expenses not deductible for tax purposes 1 512 1 223 1 796 Other non-taxable (250 ) (282 ) (158 ) 7 477 11 080 11 980 Aggregate weighted nominal tax rate 27.7 % 26.2 % 26.5 % Tax at aggregated nominal tax rate (2 069 ) (2 901 ) (3 172 ) Adjustments on tax expense Utilization of tax losses not previously recognized 13 13 120 Recognition of deferred taxes on previous years’ tax losses 48 27 46 Write-down of deferred tax assets on losses and current year losses for which no deferred tax asset is recognized (386 ) (137 ) (125 ) (Underprovided)/overprovided in prior years 119 58 101 Deductions from interest on equity 431 666 471 Deductions from goodwill 16 20 17 Other tax deductions 218 259 400 US Tax reform (change in tax rate and other) — — 116 Change in tax rate 61 (95 ) 144 Withholding taxes (423 ) (505 ) (403 ) Other tax adjustments 39 (191 ) (300 ) (1 932 ) (2 786 ) (2 585 ) Effective tax rate 100.4 % 22.1 % 34.1 % The total income tax expense for 2020 amounts to 1 932m US dollar compared to 2 786m US dollar for 2019 and 2 585m US dollar for 2018. The effective tax rate is 100.4% for 2020 compared to 22.1% for 2019 and 34.1% for 2018. The 2020 effective tax rate is negatively impacted by the non-deductible, non-cash non-deductible non-taxable non-deductible During 2018, the company finalized the re-measurement The company benefits from tax exempted income and tax credits which are expected to continue in the future. The company does not have significant benefits coming from low tax rates in any particular jurisdiction. Income taxes were directly recognized in other comprehensive income as follows: Million US dollar 2020 2019 2018 Re-measurements 58 19 22 Exchange differences, cash flow and net investment hedges 304 88 108 Income tax (losses)/gains 361 107 130 |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Property, plant and equipment | 13. Property, plant and equipment Property, plant and equipment comprises owned and leased assets, as follows: Million US dollar 31 December 31 December Property, plant and equipment owned 24 191 25 515 Property, plant and equipment leased (right-of-use 2 228 2 029 Total property, plant and equipment 26 419 27 544 31 December 2020 31 December Million US dollar Land and Plant and Under Total Total Acquisition cost Balance at end of previous year 12 216 34 381 2 160 48 757 47 969 Effect of movements in foreign exchange (393 ) (1 086 ) (165 ) (1 644 ) (485 ) Acquisitions 24 856 2 308 3 188 4 451 Acquisitions through business combinations 40 56 16 111 24 Disposals (68 ) (1 186 ) (19 ) (1 274 ) (1 987 ) Disposals through the sale of subsidiaries — — — — (4 ) Transfer (to)/from other asset categories and other movements¹ 419 1 955 (2 519 ) (145 ) (1 211 ) Balance at end of the period 12 237 34 976 1 780 48 993 48 757 Depreciation and impairment losses Balance at end of previous year (3 604 ) (19 638 ) — (23 242 ) (22 331 ) Effect of movements in foreign exchange 54 570 — 625 310 Depreciation (387 ) (2 862 ) — (3 250 ) (3 370 ) Disposals 23 1 108 — 1 130 1 734 Disposals through the sale of subsidiaries — — — — 3 Impairment losses (31 ) (114 ) — (145 ) (87 ) Transfer to/(from) other asset categories and other movements¹ (4 ) 84 — 80 499 Balance at end of the period (3 950 ) (20 852 ) — (24 802 ) (23 242 ) Carrying amount at 31 December 2019 8 612 14 743 2 160 25 515 25 515 at 31 December 2020 8 287 14 124 1 780 24 191 — As at 31 December 2020, the carrying amount of property, plant and equipment subject to restrictions on title amounted to 2m US dollar (31 December 2019: 4m US dollar). Contractual commitments to purchase property, plant and equipment amounted to 528m US dollar as at 31 December 2020 compared to 457m US dollar as at 31 December 2019. AB InBev’s net capital expenditures in the statement of cash flow amounted to 3 687m US dollar in 2020 compared to 4 854m US dollar for the same period last year. Out of the total 2020 capital expenditures approximately 41% was used to improve the company’s production facilities while 44% was used for logistics and commercial investments and 15% for improving administrative capabilities and for the purchase of hardware and software. 1 The transfer (to)/from other asset categories and other movements relates mainly to transfers from assets under construction to their respective asset categories, to contributions of assets to pension plans, to the separate presentation in the balance sheet of property, plant and equipment held for sale in accordance with IFRS 5 Non-current non-monetary Financial reporting in hyperinflationary economies Property, plant and equipment leased by the company (right-of-use 2020 Million US dollar Land and Machinery, Total Net carrying amount at 31 December 1 726 502 2 228 Depreciation for the year ended 31 December (343 ) (156 ) (499 ) 2019 Million US dollar Land and Machinery, Total Net carrying amount at 31 December 1 723 306 2 029 Depreciation for the year ended 31 December (329 ) (160 ) (489 ) Additions to right-of-use Following the sale of Dutch and Belgian pub real estate to Cofinimmo in October 2007, AB InBev entered into lease agreements with a term of 27 years. Furthermore, the company leases a number of warehouses, trucks, factory facilities and other commercial buildings, which typically run for a period of five to ten years. Lease payments are increased annually to reflect market rentals, if applicable. None of the leases include contingent rentals. The company leases out pub real estate for an average outstanding period of 6 to 8 years and part of its own property under operating leases. The expense related to short-term and low-value |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Goodwill | 14. Goodwill Million US dollar 31 December 2020 31 December 2019 Acquisition cost Balance at end of previous year 128 119 133 316 Effect of movements in foreign exchange (4 723 ) 53 Acquisitions through business combinations 185 682 Disposals through the sale of subsidiaries — (22 ) Hyperinflation monetary adjustments 120 171 Reclassified as held for sale — (6 081 ) Balance at end of the period 123 702 128 119 Impairment losses Balance at end of previous year (5 ) (5 ) Effect of movements in foreign exchange (226 ) — Impairment losses (2 500 ) — Balance at end of the period (2 731 ) (5 ) Carrying amount at 31 December 2019 128 114 128 114 at 31 December 2020 120 971 — During 2020, AB InBev recognized goodwill on acquisitions of subsidiaries of 185m US dollar (2019: 682m US dollar) – see also Note 6 Acquisitions and disposals of subsidiaries Goodwill, which accounted for approximately 53% of AB InBev total assets as at 31 December 2020, is tested for impairment at the cash-generating unit level (that is one level below the operating segments). The cash-generating unit level is the lowest level at which goodwill is monitored for internal management purposes. Except in cases where the initial allocation of goodwill has not been concluded by the end of the initial reporting period following the business combination, goodwill is allocated as from the acquisition date to each of AB InBev’s cash-generating units that are expected to benefit from the synergies of the combination whenever a business combination occurs. Interim impairment testing The COVID-19 COVID-19 Impairment of Assets By 30 June 2020, the uncertain course of the pandemic in the absence of effective vaccines or treatments, had caused extraordinary economic uncertainty, including how different countries would be affected, the speed of their recovery, the financial and fiscal measures these countries could implement and the longer term impact on the weighted average cost of capital and terminal growth rate of these countries. During its interim goodwill impairment testing, the company considered several scenarios of the recovery of sales for the different cash-generating units being tested and ran sensitivity analysis for key assumptions including the weighted average cost of capital and the terminal growth rate. These scenarios were based on management’s assumptions at the time on the recovery in a base case (which the company deemed to be the most likely case at the time of the interim impairment test), a best case and a worst case scenario per cash generating unit following the common recovery shapes: L, U and V where the letters describe the trajectory of key assumptions tracking economic conditions. In view of the uncertainties, management assumed a 15 to 30% probability for the worst case scenario, dependent on the cash generating units in this interim impairment testing. Based upon the results of the interim impairment test and considering the assumptions described below, the company concluded that no goodwill impairment was warranted under the base and best case scenarios. Nevertheless, under the worst case scenario ran with higher discount rates to factor the heightened business risk, the company concluded that the recoverable amounts were below the carrying value for the South Africa and Rest of Africa cash-generating units. As a consequence, management concluded, based on the valuations performed, that it was prudent in view of the uncertainties to record an impairment of goodwill of (1.5) billion US dollar for the South Africa cash generating unit and (1.0) billion US dollar for the Rest of Africa cash generating unit applying a 30% probability of occurrence. The impairment charge was allocated to the company’s EMEA reportable segment as at 30 June 2020. In the sensitivity analyses carried out as at 30 June 2020, based on the worst case discounted cash flow calculations, an adverse change of 1% in the WACC applied would lead to a reduction of the recoverable amount below the carrying amount for the South Africa, Rest of Africa, Columbia and Rest of Middle Americas cash generating units and would give rise to an additional impairment of 0.6 billion US dollar for the South Africa and Rest of Africa cash generating units, applying a 30% probability of occurrence. The company would therefore be faced with a risk of future impairment under the worst case scenario at these higher WACC assumptions. A 5% increase/(decrease) in probability applied for the worst case scenario (holding all other assumptions constant) would lead to an additional/(reduced) impairment of 0.4 billion US dollar for the South Africa and Rest of Africa cash-generating units in aggregate. These calculations were based on management’s assessment of reasonably possible adverse changes in key assumptions at the time of the interim impairment testing, yet they are hypothetical and should not be viewed as an indication that these factors are likely to change. The sensitivity analyses should therefore be interpreted with caution. Annual impairment testing The company performed a new impairment testing during the fourth quarter of 2020 for its cash-generating units and ran sensitivity analysis for key assumptions including the weighted average cost of capital and the terminal growth rate. The impairment testing considered a single scenario based on management’s assumptions of the future performance of its cash-generating units and applied the assumptions described below. Based on the annual goodwill impairment testing reperformed by management during the fourth quarter of 2020 in accordance with the methodology discussed above, no additional impairment charge was warranted. Impairment testing methodology The company performed its interim and annual goodwill impairment test at cash generating unit level, which is the lowest level at which goodwill is monitored for internal management purposes. AB InBev’s impairment testing methodology is in accordance with IAS 36 Impairment of Assets fair-value-less-cost-to-sell The key judgments, estimates and assumptions used in the discounted cash flow calculations were generally as follows: • In the first three years of the model, cash flows are based on AB InBev’s 1-year • For the subsequent seven years of the model, data from each scenario was extrapolated generally using simplified assumptions such as macro-economic and industry assumptions, variable cost per hectoliter and fixed cost linked to inflation, as obtained from external sources; • Cash flows after the first ten-year • Projections are discounted at the unit’s weighted average cost of capital (WACC), considering sensitivities on this metric with more conservative assumptions in the worst case scenario interim impairment testing to factor the heightened business risk; • Cost to sell is assumed to reach 2% of the entity value based on historical precedents. For the main cash generating units, the terminal growth rate applied generally ranged between 2% and 5%. The WACC applied in US dollar nominal terms were as follow: Cash-generating unit 31 December 2020 30 June 2020 1 31 December 2019 Colombia 6 % 6% - 7 % 6 % Rest of Middle Americas 9 % 10% - 11 % 9 % South Africa 7 % 7% - 8 % 7 % Rest of Africa 10 % 10% - 12 % 10 % Rest of Asia Pacific 6 % 8 % — While a change in the weighted average cost of capital and the terminal growth rate used in impairment testing could have a material impact on the calculation of the fair values and trigger an impairment charge, based on the sensitivity analysis performed for the fourth quarter discounted cash flow calculations, the company is not aware of any reasonably possible change in the key assumptions that would cause the cash-generating units’ carrying amount to exceed its recoverable amount. In the sensitivity analysis performed by management during the annual impairment testing in 2019 and 2020, an adverse change of 1% in WACC would not cause a cash-generating unit’s carrying amount to exceed its recoverable amount. Goodwill impairment testing relies on a number of critical judgments, estimates and assumptions. AB InBev believes that all of its estimates are reasonable: they are consistent with the company’s internal reporting and reflect management’s current best estimates. However, inherent uncertainties exist, including the rate of recovery of the countries following the COVID-19 Although AB InBev believes that its judgments, assumptions and estimates are appropriate, actual results may differ from these estimates under different assumptions or market or macro-economic conditions. The carrying amount of goodwill was allocated to the different cash-generating units as follows: Million US dollar 31 December 2020 31 December 2019 United States 33 552 33 451 Rest of North America 2 105 1 984 Mexico 12 446 13 175 Colombia 17 748 18 647 Rest of Middle Americas 24 036 25 257 Brazil 3 521 4 539 Rest of South America 1 061 1 101 Europe 2 444 2 277 South Africa 11 110 13 500 Rest of Africa 4 990 6 691 China 3 291 3 095 Rest of Asia Pacific 4 059 4 397 Global Export and Holding Companies 608 — Total carrying amount of goodwill 120 971 128 114 1 With the higher WACC applied in the worst case scenario in the interim impairment testing. |
Intangible assets
Intangible assets | 12 Months Ended |
Dec. 31, 2020 | |
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Intangible assets | 15. Intangible assets 31 December 2020 31 December Million US dollar Brands Commercial Software Other Total Total Acquisition cost Balance at end of previous year 40 074 2 774 2 594 666 46 108 48 465 Effect of movements in foreign exchange (839 ) (6 ) 42 14 (789 ) (79 ) Acquisitions through business combinations 157 — — 5 162 99 Acquisitions and expenditures 35 190 53 279 557 631 Disposals — (23 ) (38 ) (81 ) (142 ) (259 ) Disposals through the sale of subsidiaries — — — — — (29 ) Transfer (to)/from other asset categories and other movements 1 — 96 321 (428 ) (11 ) (2 720 ) Balance at end of period 39 427 3 031 2 972 455 45 885 46 108 Amortization and impairment losses Balance at end of previous year (32 ) (1 595 ) (1 851 ) (178 ) (3 656 ) (3 634 ) Effect of movements in foreign exchange — 12 (29 ) 1 (16 ) 41 Amortization — (297 ) (364 ) (54 ) (715 ) (622 ) Impairment (9 ) (156 ) — — (165 ) — Disposals — 18 35 9 62 254 Disposals through the sale of subsidiaries — — — — — — Transfer to/(from) other asset categories and other movements 1 — (54 ) 28 158 132 305 Balance at end of period (41 ) (2 072 ) (2 181 ) (64 ) (4 358 ) (3 656 ) Carrying value at 31 December 2019 40 042 1 179 743 488 42 452 42 452 at 31 December 2020 39 386 959 791 391 41 527 — During 2020, AB InBev recognized intangible assets on acquisitions of subsidiaries of 162m US dollar (2019: 128m US dollar) – see also Note 6 Acquisitions and disposals. Exceptional items. AB InBev is the owner of some of the world’s most valuable brands in the beer industry. As a result, brands and certain distribution rights are expected to generate positive cash flows for as long as the company owns the brands and distribution rights. Given AB InBev’s more than 600-year Acquisitions and expenditures of commercial intangibles mainly represent supply and distribution rights, exclusive multi-year sponsorship rights and other commercial intangibles. Intangible assets with indefinite useful lives are comprised primarily of brands and certain distribution rights that AB InBev purchased for its own products. These were tested for impairment in the second and the fourth quarter of 2020. Based on the impairment testing results, no impairment loss was allocated to intangible assets with indefinite useful lives – refer to Note 14 Goodwill As at 31 December 2020, the carrying amount of the intangible assets amounted to 41 527m US dollar (31 December 2019: 42 452m US dollar) of which 39 395m US dollar was assigned an indefinite useful life (31 December 2019: 40 217m US dollar) and 2 132m US dollar a finite life (31 December 2019: 2 235m US dollar). 1 The transfer (to)/from other asset categories and other movements mainly relates to transfers from assets under construction to their respective asset categories, to contributions of assets to pension plans, to the separate presentation in the balance sheet of intangible assets held for sale in accordance with IFRS 5 Non-current non-monetary Financial reporting in hyperinflationary economies The carrying amount of intangible assets with indefinite useful lives was allocated to the cash-generating units as follows: Million US dollar Cash-generating unit 2020 2019 United States 22 172 22 124 Rest of North America 42 66 Mexico 3 067 3 243 Colombia 3 320 3 488 Rest of Middle Americas 3 655 3 915 Brazil 1 3 Rest of South America 681 714 Europe 461 489 South Africa 3 289 3 417 Rest of Africa 1 068 1 228 China 427 410 Rest of Asia Pacific 1 212 1 120 Total carrying amount of intangible assets with indefinite useful lives 39 395 40 217 Intangible assets with indefinite useful lives have been tested for impairment using the same methodology and assumptions as disclosed in Note 14 Goodwill. |
Investments in associates
Investments in associates | 12 Months Ended |
Dec. 31, 2020 | |
Investments accounted for using equity method [abstract] | |
Investments in associates | 16. Investments in associates A reconciliation of the summarized financial information to the carrying amount of the company’s interests in material associates is as follows: 2020 2019 Million US dollar AB InBev Efes Castel Efes AB InBev Efes Castel Efes Balance at 1 January 1 132 3 239 451 1 159 3 279 479 Effect of movements in foreign exchange — 270 (92 ) — (56 ) (59 ) Dividends received — (19 ) — (15 ) (95 ) (11 ) Share of results of associates 3 76 32 (11 ) 111 42 Balance at 31 December 1 135 3 566 391 1 133 3 239 451 Summarized financial information of the company’s material associates is as follows: 2020 2019 Million US dollar AB InBev Efes Castel Efes AB InBev Efes Castel Efes Current assets 351 4 048 2 156 377 4 044 2 266 Non-current 603 3 775 4 642 767 4 255 5 618 Current liabilities (591 ) (1 531 ) (1 639 ) (652 ) (1 631 ) (1 859 ) Non-current (75 ) (671 ) (1 852 ) (109 ) (743 ) (1 986 ) Non-controlling — (687 ) (1 627 ) — (723 ) (1 909 ) Net assets 288 4 934 1 679 383 5 201 2 130 Revenue 1 276 4 879 3 847 1 388 5 107 4 015 Profit (loss) (20 ) 700 224 23 719 276 Other comprehensive income (loss) — (134 ) 392 — (372 ) (431 ) Total comprehensive income (loss) (20 ) 566 617 23 347 (155 ) In 2020, associates that are not individually material contributed 45m US dollar to the results of investment in associates (2019: 10m US dollar; 2018: 51m US dollar). Following the entry of Zimbabwe in a hyperinflation economy in 2019, the company recorded an impairment of 15m US dollar in 2020 on its investment in Delta Corporation Ltd (2019: 188m US dollar). The impairment is recorded as an exceptional net finance cost. Refer to Note 11 Finance cost and income Additional information related to the significant associates is presented in Note 36 AB InBev Companies |
Investment securities
Investment securities | 12 Months Ended |
Dec. 31, 2020 | |
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Investment securities | 17. Investment securities Million US dollar 31 December 2020 31 December 2019 Investment in unquoted companies 115 86 Investment on debt securities 22 25 Non-current 137 111 Investment on debt securities 396 91 Current investments 396 91 As of 31 December 2020, current debt securities of 396m US dollar mainly represented investments in government bonds (31 December 2019: 91m US dollar). The company’s investments in such short-term debt securities are primarily to facilitate liquidity and for capital preservation. |
Deferred tax assets and liabili
Deferred tax assets and liabilities | 12 Months Ended |
Dec. 31, 2020 | |
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Deferred tax assets and liabilities | 18. Deferred tax assets and liabilities The amount of deferred tax assets and liabilities by type of temporary difference can be detailed as follows: 2020 Million US dollar Assets Liabilities Net Property, plant and equipment 398 (2 487 ) (2 089 ) Intangible assets 106 (10 007 ) (9 901 ) Inventories 86 (65 ) 22 Trade and other receivables 62 — 62 Interest-bearing loans and borrowings 858 (603 ) 255 Employee benefits 648 (8 ) 640 Provisions 525 (30 ) 495 Derivatives 13 (46 ) (33 ) Other items 312 (1 152 ) (840 ) Loss carry forwards 782 — 782 Gross deferred tax assets/(liabilities) 3 790 (14 398 ) (10 607 ) Netting by taxable entity (1 771 ) 1 771 — Net deferred tax assets/(liabilities) 2 019 (12 627 ) (10 607 ) 2019 Million US dollar Assets Liabilities Net Property, plant and equipment 415 (2 550 ) (2 135 ) Intangible assets 112 (10 327 ) (10 215 ) Inventories 119 (67 ) 52 Trade and other receivables 52 (1 ) 51 Interest-bearing loans and borrowings 706 (603 ) 103 Employee benefits 631 (3 ) 628 Provisions 467 (22 ) 445 Derivatives 23 (21 ) 2 Other items 311 (861 ) (550 ) Loss carry forwards 515 — 515 Gross deferred tax assets/(liabilities) 3 350 (14 455 ) (11 105 ) Netting by taxable entity (1 631 ) 1 631 — Net deferred tax assets/(liabilities) 1 719 (12 824 ) (11 105 ) The change in net deferred taxes recorded in the consolidated statement of financial position can be detailed as follows: Million US dollar 2020 2019 2018 Balance at 1 January (11 105 ) (11 648 ) (11 857 ) Recognized in profit or loss 32 19 95 Recognized in other comprehensive income 361 109 (130 ) Acquisitions through business combinations (6 ) (18 ) (23 ) Reclassified as held for sale (1 ) 363 — Other movements and effect of changes in foreign exchange rates 112 70 267 Balance at 31 December (10 607 ) (11 105 ) (11 648 ) Most of the temporary differences are related to the fair value adjustment on intangible assets with indefinite useful lives and property, plant and equipment acquired through business combinations. The realization of such temporary differences is unlikely to revert within 12 months. The net deferred tax liabilities attributable to the US business amounted to 6.6 billion US dollar as of 31 December 2020. Tax losses carried forward and deductible temporary differences on which no deferred tax asset is recognized amount to 3 464m US dollar in 2020 (2019: 4 734m US dollar; 2018: 5 280m US dollar). 1 082m US dollar of these tax losses and deductible temporary differences do not have an expiration date, 303m US dollar, 221m US dollar and 239m US dollar expire within respectively 1, 2 and 3 years, while 1 618m US dollar have an expiration date of more than 3 years. Deferred tax assets have not been recognized on these items because it is not probable that future taxable profits will be available against which these tax losses and deductible temporary differences can be utilized and the company has no tax planning strategy currently in place to utilize these tax losses and deductible temporary differences. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Inventories | 19. Inventories Million US dollar 31 December 2020 31 December 2019 Prepayments 92 105 Raw materials and consumables 2 499 2 478 Work in progress 439 405 Finished goods 1 256 1 257 Goods purchased for resale 197 182 Inventories 4 482 4 427 Inventories other than work in progress Inventories stated at net realizable value 214 171 The cost of inventories recognized as an expense in 2020 amounts to 19 634m US dollar, included in cost of sales (2019: 20 362m US dollar; 2018: 19 933m US dollar). Impairment losses on inventories recognized in 2020 amount to 117m US dollar. The impairment loss includes the write off of obsolete work in progress and finished goods as a result of the COVID-19 |
Trade and other receivables
Trade and other receivables | 12 Months Ended |
Dec. 31, 2020 | |
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Trade and other receivables | 20. Trade and other receivables Million US dollar 31 December 2020 31 December 2019 Cash deposits for guarantees 184 219 Loans to customers 25 58 Tax receivable, other than income tax 99 96 Brazilian tax credits and interest receivables 997 70 Trade and other receivables 357 363 Non-current 1 661 807 Trade receivables and accrued income 3 284 4 046 Interest receivables 4 21 Tax receivable, other than income tax 552 821 Loans to customers 117 119 Prepaid expenses 354 563 Other receivables 522 616 Current trade and other receivables 4 833 6 187 Ambev’s tax credits and interest receivables are expected to be collected over a period exceeding 12 months after the balance sheet date. As of 31 December 2020, the total amount of such credits and interest receivables represented 997m US dollar (31 December 2019: 70m US dollar). Refer to Note 7 Other operating income/(expenses) and Note 11 Finance cost and income for more details. The carrying amount of trade and other receivables is a good approximation of their fair value as the impact of discounting is not significant. The ageing of the current trade receivables and accrued income, interest receivable, other receivables and current and non-current Net carrying Of which: Of which not impaired as of the reporting date and past due Less than 30 Between Between 60 More than Trade receivables and accrued income 3 285 3 074 155 37 10 8 Loans to customers 142 86 3 2 50 — Interest receivable 4 4 — — — — Other receivables 522 416 2 16 5 83 3 953 3 580 161 55 66 91 Net carrying Of which: Of which not impaired as of the reporting date and past due Less than 30 Between Between 60 More than Trade receivables and accrued income 4 046 3 690 261 44 44 7 Loans to customers 177 172 1 2 2 — Interest receivable 21 21 — — — — Other receivables 616 582 9 16 5 4 4 860 4 465 271 62 51 11 The above analysis of the age of financial assets that are past due as at the reporting date but not impaired also includes non-current COVID-19 AB InBev’s exposure to credit, currency and interest rate risks is disclosed in Note 29 Risks arising from financial instruments |
Cash and cash equivalents and i
Cash and cash equivalents and investment securities | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Cash and cash equivalents and investment securities | 21. Cash and cash equivalents and investment securities Million US dollar 31 December 2020 31 December 2019 Short-term bank deposits 3 319 2 236 Treasury Bills 6 800 — Cash and bank accounts 5 132 5 002 Cash and cash equivalents 15 252 7 238 Bank overdrafts (5 ) (68 ) 15 247 7 169 The company’s investment in Treasury Bills is to facilitate liquidity and for capital preservation. The cash outstanding as at 31 December 2020 includes restricted cash for an amount of 84m US dollar (31 December 2019: 78m US dollar). This restricted cash relates to an outstanding consideration payable to former Anheuser-Busch shareholders that have not yet claimed the proceeds from the 2008 combination (1m US dollar) and amounts deposited on a blocked account in respect to the state aid investigation into the Belgian excess profit ruling system (83m US dollar). |
Assets classified as held for s
Assets classified as held for sale, liabilities associated with assets held for sale and discontinued operations | 12 Months Ended |
Dec. 31, 2020 | |
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Assets classified as held for sale, liabilities associated with assets held for sale and discontinued operations | 22. Assets classified as held for sale, liabilities associated with assets held for sale and discontinued operations ASSETS CLASSIFIED AS HELD FOR SALE Million US dollar 31 December 2020 31 December 2019 Balance at the end of previous year 10 013 39 Reclassified to assets held for sale in the period 210 9 692 Disposals (9 665 ) (59 ) Effect of movements in foreign exchange (484 ) 341 Balance at the end of year 74 10 013 LIABILITIES ASSOCIATED WITH ASSETS HELD FOR SALE Million US dollar 31 December 2020 31 December 2019 Balance at end of previous year 1 145 — Reclassified to liabilities associated with assets held for sale (46 ) 1 106 Disposals (1 044 ) — Effect of movements in foreign exchange (55 ) 39 Balance at end of the period — 1 145 On 19 July 2019, AB InBev announced the agreement to divest CUB, its Australian subsidiary, to Asahi for 16.0 billion AUD on a cash free, debt free basis. Consequently, in accordance with IFRS 5 Non-current Upon the closing of the transaction on 1 June 2020, the company received 10.8 billion US dollar proceeds net of disposal costs, derecognized (8.5) billion US dollar of net assets in relation to its former Australian operations, recycled (0.4) billion US dollar of the cumulative foreign exchange differences on its former Australian operations and cashflow hedges from equity to profit or loss, resulting in a net gain on disposal of 1.9 billion US dollar recognized in discontinued operations. ASSETS AND LIABILITIES HELD FOR SALE Assets and liabilities relating to the Australian operations were classified as held for sale on the consolidated statement of financial position as at 31 December 2019 and disposed of upon the completion of the sale on 1 June 2020. The relevant assets and liabilities are detailed in the table below: Million US dollar 1 June 2020 31 December 2019 Assets Property, plant and equipment 581 625 Goodwill and intangible assets 8 584 9 030 Other assets 371 310 Assets classified as held for sale 9 537 9 965 Liabilities Trade and other payables (581 ) (659 ) Deferred tax liabilities (363 ) (380 ) Other liabilities (101 ) (106 ) Liabilities associated with assets held for sale (1 044 ) (1 145 ) Net assets disposed of 8 493 — Exceptional gain on divestiture of Australia (discontinued operations) 1 919 — Recycling of CTA and cashflow hedges 426 — Consideration received 10 838 — RESULTS FROM DISCONTINUED OPERATIONS The following table summarizes the results of the Australian operations included in the consolidated income statements and presented as discontinued operations: For the period ended Million US dollar 31 May 2020 31 December 2019 31 December 2018 Revenue 477 1 394 1 577 Profit from operations 178 632 775 Profit from discontinued operations 136 424 531 CASH FLOW FROM DISCONTINUED OPERATIONS Cash flows attributable to the operating, investing and financing activities of the Australian operations are summarized as follows: For the period ended Million US dollar 31 May 2020 31 December 2019 1 31 December 2018 Cash flow from operating activities 84 640 883 Cash flow from investing activities – proceeds from Australia divestiture 10 838 219 — Cash flow from investing activities – other (13 ) (77 ) (109 ) Cash flow from financing activities (6 ) (24 ) (19 ) Net increase in cash and cash equivalents 10 903 758 755 |
Changes in equity and earnings
Changes in equity and earnings per share | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Changes in equity and earnings per share | 23. Changes in equity and earnings per share STATEMENT OF CAPITAL The tables below summarize the changes in issued capital and treasury shares during 2020: Issued capital Issued capital Million shares Million US dollar At the end of the previous year 2 019 1 736 Changes during the period — — 2 019 1 736 Of which: Ordinary shares 1 693 Restricted shares 326 1 The 2019 cash flow from investing activities has been restated to reflect reclassification of the cash flow hedges in relation to the Australia divestiture reported in the financing activities in 2019 and recycled to profit or loss upon the completion of the transaction. Treasury shares Treasury shares Result on the use Million shares Million US dollar Million US dollar At the end of the previous year 59.9 (6 270 ) (2 556 ) Changes during the period (12.9 ) 1 359 (974 ) 47.0 (4 911 ) (3 530 ) As at 31 December 2020, the share capital of AB InBev amounts to 1 238 608 344.12 euro (1 736 million US dollar). It is represented by 2 019 241 973 shares without nominal value, of which 46 992 567 are held in treasury by AB InBev and its subsidiaries. All shares are ordinary shares, except for 325 999 817 restricted shares. As at 31 December 2020, the total of authorized, unissued capital amounts to 37m euro. The treasury shares held by the company are reported in equity in Treasury shares. The holders of ordinary and restricted shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the company. In respect of the company’s shares that are held by AB InBev and its subsidiaries, the economic and voting rights are suspended. The restricted shares are unlisted, not admitted to trading on any stock exchange, and are subject to, among other things, restrictions on transfer until converted into new ordinary shares. The restricted shares will be convertible at the election of the holder into new ordinary shares on a one-for-one The shareholders’ structure is based on the notifications made to the company pursuant to the Belgian Law of 2 May 2007, which governs the disclosure of significant shareholdings in listed companies. It is included in the Corporate Governance CHANGES IN OWNERSHIP INTERESTS In compliance with IFRS 10, the acquisition or disposal of additional shares in a subsidiary is accounted for as an equity transaction with owners. On 31 December 2020, AB InBev completed the issuance of a 49.9% minority stake in its US-based US-based As required by IFRS 10 Consolidated Financial Statements Non-controlling On 30 September 2019, the initial public offering (the “IPO”) of a minority stake in Budweiser Brewing Company APAC Limited, AB InBev´s Asia Pacific subsidiary, was completed and Budweiser APAC commenced the listing of its shares on the Hong Kong Stock Exchange. In addition, on 3 October 2019, the over-allotment option in connection with the IPO of Budweiser APAC was fully exercised by the international underwriters. The final number of shares issued in the IPO was 1 669 459 000 shares comprising of 72 586 000 shares issued under the Hong Kong public offering, 1 379 118 000 shares placed under the international offering, and 217 755 000 shares issued under the over-allotment option fully exercised by the international underwriters. Following the completion of the IPO and after the exercise of the over-allotment option, AB InBev retained an 87.22% controlling interest of the issued share capital of Budweiser APAC. As presented in the consolidated statement of changes in equity, the transaction resulted in a 4.4 billion US dollar increase in equity and a 1.2 billion US dollar increase in non-controlling The net proceeds of the offering (after deducting the underwriting commissions and other expenses in connection with the IPO and the issuance of the new shares) amount to 5.6 billion US dollar and were used to repay debt of AB InBev. During 2020, there were no significant purchases of non-controlling ACQUISITIONS AND DISPOSALS OF OWN SHARES (REPORT ACCORDING TO ARTICLE 7:220 OF THE BELGIAN COMPANIES CODE OF COMPANIES AND ASSOCIATIONS) AND BORROWINGS OF OWN SHARES– PURCHASE OF OWN SHARES During 2020, the company has not acquired any treasury shares in accordance with article 7:215 of the Belgian Code of Companies and Associations (former article 620 of the Belgian Companies Code) and has proceeded with the following disposals of its own shares. Treasury shares The company has used 9 520 966 treasury shares to settle the participants’ obligations related to the Zenzele Scheme (refer to Note 31 Collateral and contractual commitments for the acquisition of property, plant and equipment, loans to customers and other Borrowed shares In order to fulfill AB InBev’s commitments under various outstanding stock option plans, during the course of 2020, the company had stock lending arrangements in place for up to 30 million shares, which were fully used to fulfill stock option plan commitments. The company shall pay any dividend equivalent after tax in respect of such borrowed shares. This payment will be reported through equity as dividend. DIVIDENDS On 24 February 2021, a dividend of 0.50 euro per share or 1 003m euro was proposed by the Board of Directors, and will be subject to approval at the shareholder’ meeting on 28 April 2021. On 24 October 2019, an interim dividend of 0.80 euro per share or approximately 1 588m euro was approved by the Board of Directors. This interim dividend was paid out on 21 November 2019. On 3 June 2020, in addition to the interim dividend paid on 21 November 2019, a dividend of 0.50 euro per share or 1 002m euro was approved at the shareholder’ meeting, reflecting a total dividend payment for the 2019 fiscal year of 1.30 euro per share or 2 590m euro. The dividend was paid out as of 11 June 2020. On 24 October 2018, an interim dividend of 0.80 euro per share or approximately 1 565m euro was approved by the Board of Directors. This interim dividend was paid out on 29 November 2018. On 24 April 2019, in addition to the interim dividend paid on 29 November 2018, a dividend of 1.00 euro per share (or 1 978m euro) was approved at the shareholder’ meeting, reflecting a total dividend payment for the 2018 fiscal year of 1.80 euro per share (or 3 557m euro). The dividend was paid out on 9 May 2019. TRANSLATION RESERVES The translation reserves comprise all foreign currency exchange differences arising from the translation of the financial statements of foreign operations. The translation reserves also comprise the portion of the gain or loss on the foreign currency liabilities and on the derivative financial instruments determined to be effective net investment. HEDGING RESERVES The hedging reserves comprise the effective portion of the cumulative net change in the fair value of cash flow hedges to the extent that the hedged risk has not yet impacted profit or loss. On 1 June 2020, upon the Australia divestiture, the company recycled 370m US dollar of cash flow hedges in relation to its former Australia operations from equity to profit or loss. TRANSFERS FROM SUBSIDIARIES The amount of dividends payable to AB InBev by its operating subsidiaries is subject to, among other restrictions, general limitations imposed by the corporate laws, capital transfer restrictions and exchange control restrictions of the respective jurisdictions where those subsidiaries are organized and operate. Capital transfer restrictions are also common in certain emerging market countries and may affect AB InBev’s flexibility in implementing a capital structure it believes to be efficient. As at 31 December 2020, the restrictions above mentioned were not deemed significant on the company’s ability to access or use the assets or settle the liabilities of its operating subsidiaries. Dividends paid to AB InBev by certain of its subsidiaries are also subject to withholding taxes. Withholding taxes, if applicable, generally do not exceed 15%. DEFERRED SHARE INSTRUMENT In a transaction related to the combination with Grupo Modelo, selected Grupo Modelo shareholders committed, upon tender of their Grupo Modelo shares, to acquire 23 076 922 AB InBev shares to be delivered within 5 years for a consideration of approximately 1.5 billion US dollar. The consideration was paid on 5 June 2013. On 21 May 2018, AB InBev delivered the shares that were due under the deferred share instruments through the use of AB InBev treasury shares. Until the delivery of the AB InBev shares, AB InBev paid a coupon on each undelivered AB InBev share, so that the Deferred Share Instrument holders were compensated on an after-tax The deferred share instrument was classified as an equity instrument, in line with IAS 32, because the number of shares and consideration received are fixed. The coupon to compensate for the dividend equivalent is reported through equity. On 3 May 2018, the company paid a coupon of 2.00 euro per share (approximately 56m US dollar). OTHER COMPREHENSIVE INCOME RESERVES The changes in the other comprehensive income reserves are as follows: Million US dollar Translation Hedging Post-employment Total OCI As per 1 January 2020 (19 936 ) 397 (1 740 ) (21 279 ) Other comprehensive income/(loss) Exchange differences on translation of foreign operations (gains/(losses)) (9 943 ) — — (9 943 ) Cash flow hedges — 198 — 198 Cash flow hedges and cumulative translation adjustments reclassified from equity to profit or loss in relation to Australia divestiture 645 (219 ) — 426 Re-measurements — — (243 ) (243 ) Total comprehensive income/(loss) (9 298 ) (21 ) (243 ) (9 562 ) As per 31 December 2020 (29 234 ) 376 (1 983 ) (30 841 ) The increase in translation reserves is primarily related to the combined effect of the weakening of the closing rates of the Mexican pesos, the South African rand, the Colombian pesos, the Brazilian real and the Peruvian sol, and the strengthening of the Euro which resulted in a foreign exchange translation adjustment of 9 943m US dollar as of 31 December 2020 (decrease of equity). Million US dollar Translation Hedging Post-employment Total OCI As per 1 January 2019 (21 079 ) 494 (1 567 ) (22 152 ) Other comprehensive income/(loss) Exchange differences on translation of foreign operations (gains/(losses)) 1 143 — — 1 143 Cash flow hedges — (97 ) — (97 ) Re-measurements — — (173 ) (173 ) Total comprehensive income/(loss) 1 143 (97 ) (173 ) 873 As per 31 December 2019 (19 936 ) 397 (1 740 ) (21 279 ) Million US dollar Translation Hedging Post-employment Total OCI As per 1 January 2018 (13 705 ) 586 (1 665 ) (14 784 ) Other comprehensive income/(loss) Exchange differences on translation of foreign operations (gains/(losses)) (7 374 ) — — (7 374 ) Cash flow hedges — (92 ) — (92 ) Re-measurements — — 98 98 Total comprehensive income/(loss) (7 374 ) (92 ) 98 (7 368 ) As per 31 December 2018 (21 079 ) 494 (1 567 ) (22 152 ) EARNINGS PER SHARE The calculation of basic earnings per share for 2020 is based on the profit attributable to equity holders of AB InBev of 1 405m US dollar (2019: 9 171m US dollar; 2018: 4 370m US dollar) and a weighted average number of ordinary and restricted shares outstanding (including deferred share instruments and stock lending) per end of the period, calculated as follows: Million shares 2020 2019 2018 Issued ordinary and restricted shares at 1 January, net of treasury shares 1 959 1 957 1 934 Effect of stock lending 30 25 18 Effect of undelivered shares under the deferred share instrument — 9 Effect of delivery of treasury shares 9 2 14 Weighted average number of ordinary and restricted shares at 31 December 1 998 1 984 1 975 The calculation of diluted earnings per share for 2020 is based on the profit attributable to equity holders of AB InBev of 1 405m US dollar (2019: 9 171m US dollar; ; 2018: 4 370m US dollar) and a weighted average number of ordinary and restricted shares (diluted) outstanding (including deferred share instruments and stock lending) at the end of the period, calculated as follows: Million shares 2020 2019 2018 Weighted average number of ordinary and restricted shares at 31 December 1 998 1 984 1 975 Effect of share options, warrants and restricted stock units 39 42 36 Weighted average number of ordinary and restricted shares (diluted) at 31 December 2 037 2 026 2 011 The calculation of earnings per share before exceptional items and discontinued operations is based on the profit from continuing operations attributable to equity holders of AB InBev. A reconciliation of the profit before exceptional items and discontinued operations, attributable to equity holders of AB InBev to the profit attributable to equity holders of AB InBev is calculated as follows: Million US dollar 2020 2019 2018 Profit before exceptional items and discontinued operations, attributable to equity holders of AB InBev 3 807 8 086 6 248 Exceptional items, before taxes (refer to Note 8) (3 103 ) (323 ) (692 ) Exceptional finance income/(cost), before taxes (refer to Note 11) (1 738 ) 882 (1 982 ) Exceptional taxes (refer to Note 8) 155 (6 ) 233 Exceptional non-controlling 228 108 32 Profit from discontinued operations (refer to Note 22) 2 055 424 531 Profit attributable to equity holders of AB InBev 1 405 9 171 4 370 The calculation of the Underlying EPS is based on the profit before exceptional items, discontinued operations, mark-to-market mark-to-market Million US dollar 2020 2019 2018 Profit before exceptional items, discontinued operations, mark-to-market 5 022 7 196 8 099 Mark-to-market (1 211 ) 898 (1 774 ) Hyperinflation impacts (4 ) (7 ) (77 ) Profit before exceptional items and discontinued operations, attributable to equity holders of AB InBev 3 807 8 086 6 248 The table below sets out the EPS calculation: Million US dollar 2020 2019 2018 Profit attributable to equity holders of AB InBev 1 405 9 171 4 370 Weighted average number of ordinary and restricted shares 1 998 1 984 1 975 Basic EPS from continuing and discontinued operations 0.70 4.62 2.21 Profit from continuing operations attributable to equity holders of AB InBev (650 ) 8 748 3 839 Weighted average number of ordinary and restricted shares 1 998 1 984 1 975 Basic EPS from continuing operations (0.33 ) 4.41 1.94 Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev 3 807 8 086 6 248 Weighted average number of ordinary and restricted shares 1 998 1 984 1 975 Basic EPS from continuing operations before exceptional items 1.91 4.08 3.16 Profit before exceptional items, discontinued operations, mark-to-market 5 022 7 196 8 099 Weighted average number of ordinary and restricted shares 1 998 1 984 1 975 Underlying EPS 2.51 3.63 4.10 Profit attributable to equity holders of AB InBev 1 405 9 171 4 370 Weighted average number of ordinary and restricted shares (diluted) 2 037 2 026 2 011 Diluted EPS from continuing and discontinued operations 0.69 4.53 2.17 Profit from continuing operations attributable to equity holders of AB InBev (650 ) 8 748 3 839 Weighted average number of ordinary and restricted shares (diluted)¹ 1 998 2 026 2 011 Diluted EPS from continuing operations (0.33 ) 4.32 1.91 Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev 3 807 8 086 6 248 Weighted average number of ordinary and restricted shares (diluted) 2 037 2 026 2 011 Diluted EPS from continuing operations before exceptional items 1.87 3.99 3.11 The average market value of the company’s shares for purposes of calculating the dilutive effect of share options and restricted stock units was based on quoted market prices for the period that the options and restricted stock units were outstanding. For the calculation of Diluted EPS from continuing operations before exceptional items, 76m share options were anti-dilutive and not included in the calculation of the dilutive effect as at 31 December 2020 (31 December 2019: 59m share options, 31 December 2018: 63m share options) 1 In accordance with the guidance provided by IAS 33 Earnings per Share |
Interest-bearing loans and borr
Interest-bearing loans and borrowings | 12 Months Ended |
Dec. 31, 2020 | |
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Interest-bearing loans and borrowings | 24. Interest-bearing loans and borrowings This note provides information about the company’s interest-bearing loans and borrowings. For more information about the company’s exposure to interest rate and foreign exposure currency risk - refer to Note 29 Risks arising from financial instruments. Non-current Million US dollar 31 December 2020 31 December 2019 Secured bank loans 46 71 Unsecured bank loans — 50 Unsecured bond issues 93 523 95 674 Unsecured other loans 73 77 Lease liabilities 1 837 1 692 Non-current 95 478 97 564 Current liabilities Million US dollar 31 December 2020 31 December 2019 Secured bank loans 656 790 Commercial papers 1 522 1 599 Unsecured bank loans 294 135 Unsecured bond issues 202 2 532 Unsecured other loans 10 20 Lease liabilities 397 333 Current interest-bearing loans and borrowings 3 081 5 410 The current and non-current In March 2020, the company drew the full 9.0 billion US dollar commitment under the 2010 Senior Facilities Agreement, in order to proactively safeguard its liquidity position by holding cash on its balance sheet through the period of significant financial market volatility and uncertainty as a result of the COVID-19 Events after the balance sheet date Commercial papers amount to 1.5 billion US dollar as at 31 December 2020 (31 December 2019: 1.6 billion US dollar) and include programs in US dollar and euro with a total authorized issuance up to 5.0 billion US dollar and 3.0 billion euro, respectively. On 2 April 2020 and 3 April 2020, Anheuser-Busch InBev NV/SA (ABISA) and Anheuser-Busch InBev Worldwide Inc. (ABIWW) respectively, completed the issuance of the following series of bonds: Issue date Issuer Maturity date Currency Aggregate Interest rate 2 April 2020 ABISA 2 December 2027 EUR 1 000 2.125 % 2 April 2020 ABISA 2 April 2032 EUR 1 750 2.875 % 2 April 2020 ABISA 2 April 2040 EUR 1 750 3.700 % 3 April 2020 ABIWW 1 June 2030 USD 1 750 3.500 % 3 April 2020 ABIWW 1 June 2040 USD 1 000 4.350 % 3 April 2020 ABIWW 1 June 2050 USD 2 250 4.500 % 3 April 2020 ABIWW 1 June 2060 USD 1 000 4.600 % On 7 July 2020, the company completed the tender offers of seven series of notes issued by Anheuser-Busch InBev NV/SA (ABISA) and Anheuser-Busch InBev Finance Inc. (ABIFI) and repurchased 3.0 billion US dollar aggregate principal amount of these notes. Date of Issuer Title of series of notes issued exchanged Currency Original principal Principal amount Principal amount 7 July 2020 ABISA 4.000% Notes due 2021 EUR 750 231 519 7 July 2020 ABISA 1.950% Notes due 2021 EUR 650 123 527 7 July 2020 ABISA 0.875% Notes due 2022 EUR 2 000 356 1 644 7 July 2020 ABISA 0.800% Notes due 2023 EUR 1 000 356 644 7 July 2020 ABIFI Floating Rate Notes due 2021 USD 311 129 182 7 July 2020 ABIFI 2.625% Notes due 2023 USD 643 167 476 7 July 2020 ABIFI 3.300% Notes due 2023 USD 2 799 1 467 1 332 On 15 September 2020, the company completed the tender offers of six series of notes issued by Anheuser-Busch InBev NV/SA (ABISA), Anheuser-Busch InBev Finance Inc. (ABIFI) and Anheuser-Busch InBev Worldwide Inc. (ABIWW) and repurchased 2.1 billion US dollar aggregate principal amount of these notes. The total principal amount accepted in the tender offers is set out in the table below: Date of redemption Issuer Title of series of notes issued exchanged Currency Original principal Principal amount Principal amount 17 September 2020 ABIWW Floating rate notes due 2024 USD 229 113 116 17 September 2020 ABIWW 3.500% Notes due 2024 USD 654 404 250 17 September 2020 ABIFI 3.700% Notes due 2024 USD 865 376 489 17 September 2020 ABISA Floating rate notes due 2024 EUR 1 500 517 983 17 September 2020 ABISA 2.875% Notes due 2024 EUR 750 195 555 17 September 2020 ABISA 1.500% Notes due 2025 EUR 2 500 353 2 147 These tender offers were financed with cash. During 2020, the company announced that Anheuser-Busch InBev NV/SA (ABISA) and its wholly-owned subsidiaries Anheuser-Busch InBev Worldwide Inc (ABIWW), Anheuser-Busch InBev Finance Inc. (ABIFI) and Anheuser-Busch North American Holding Corporation (ABNA) were exercising their options to redeem the outstanding principal amount for an aggregate principle amount of 10.0 billion US dollar indicated in the table below of the following series of notes: Date of Issuer Title of series of notes issued exchanged Currency Original principal Principal amount 29 July 2020 ABIWW 3.250% Notes due 2022 AUD 550 550 12 August 2020 ABIWW 4.375% Notes due 2021 USD 285 285 12 August 2020 ABIWW 2.500% Notes due 2022 USD 454 454 12 August 2020 ABIFI 3.375% Notes due 2023 CAD 600 600 12 August 2020 ABNA 3.750% Notes due 2022 USD 150 150 25 September 2020 ABISA 1.750% Notes due 2025 GBP 650 650 8 October 2020 ABIFI 2.600% Notes due 2024 CAD 1 300 1 300 8 October 2020 ABISA 1.950% Notes due 2021 EUR 527 527 8 October 2020 ABISA 0.875% Notes due 2022 EUR 1 644 1 644 3 December 2020 ABISA 4.000% Notes due 2021 EUR 519 519 3 December 2020 ABISA 0.800% Notes due 2023 EUR 644 644 16 December 2020 ABIFI 2.625% Notes due 2023 USD 476 476 16 December 2020 ABIFI 3.300% Notes due 2023 USD 1 332 1 332 16 December 2020 ABIFI 3.700% Notes due 2024 USD 489 489 16 December 2020 ABIWW 3.500% Notes due 2024 USD 250 250 The redemption of these notes was financed with cash. Net debt is defined as non-current AB InBev’s net debt decreased to 82.7 billion US dollar as at 31 December 2020, from 95.5 billion US dollar as at 31 December 2019. Aside from operating results that are net of capital expenditures, the net debt is impacted mainly by the payment of interests and taxes (6.4 billion US dollar), settlement of derivatives (0.7 billion US dollar increase of net debt), dividend payments to shareholders of AB InBev and Ambev (1.8 billion US dollar), foreign exchange impact on net debt (3.4 billion US dollar increase of net debt), the proceeds from the divestiture of the Australian business (10.8 billion US dollar decrease of net debt) and the proceeds related to the issuance of a 49.9% minority stake in the company’s US-based The following table provides a reconciliation of AB InBev’s net debt as at the dates indicated: Million US dollar 31 December 31 December Non-current 95 478 97 564 Current interest-bearing loans and borrowings 3 081 5 410 Interest-bearing loans and borrowings 98 559 102 974 Bank overdrafts 5 68 Cash and cash equivalents (15 252 ) (7 238 ) Interest bearing loans granted and other deposits (included within Trade and other receivables) (173 ) (146 ) Debt securities (included within Investment securities) (418 ) (117 ) Net debt 82 722 95 542 Reconciliation of liabilities arising from financing activities The table below details changes in the company’s liabilities arising from financing activities, including both cash and non-cash Million US dollar Long-term debt, net Short-term debt and Balance at 1 January 2020 97 564 5 410 Proceeds from borrowings 11 226 3 596 Payments on borrowings (13 596 ) (9 520 ) Capitalization / (payment) of lease liabilities 394 (484 ) Amortized cost 71 17 Unrealized foreign exchange effects 2 521 241 Current portion of long-term debt (3 744 ) 3 744 Other movements 1 042 77 Balance at 31 December 2020 95 478 3 081 Million US dollar Long-term debt, net Short-term debt and Balance at 1 January 2019 106 997 4 584 Proceeds from borrowings 17 939 4 645 Payments on borrowings (22 339 ) (8 253 ) Capitalization / (payment) of lease liabilities 420 (441 ) Amortized cost 75 13 Unrealized foreign exchange effects (538 ) (39 ) Current portion of long-term debt (4 769 ) 4 769 Liabilities associated with assets held for sale (69 ) (15 ) Other movements (152 ) 147 Balance at 31 December 2019 97 564 5 410 |
Employee benefits
Employee benefits | 12 Months Ended |
Dec. 31, 2020 | |
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Employee benefits | 25. Employee benefits AB InBev sponsors various post-employment benefit plans worldwide, which include both defined contribution plans, defined benefit plans, and other post-employment benefits. In accordance with IAS 19 Employee Benefits DEFINED CONTRIBUTION PLANS For defined contribution plans, AB InBev pays contributions to publicly or privately administered pension funds or insurance contracts. Once the contributions have been paid, the group has no further payment obligation. The regular contributions constitute an expense for the year in which they are due. For 2020, contributions paid into defined contribution plans for the company amounted to 91m US dollar compared to 101m US dollar for 2019 and 109m US dollar for 2018. DEFINED BENEFIT PLANS During 2020, the company contributed to 81 defined benefit plans, of which 60 are retirement or leaving service plans, 17 are medical cost plans and 4 other long-term employee benefit plans. Most plans provide retirement and leaving service benefits related to pay and years of service. In many of the countries the plans are partially funded. When plans are funded, the assets are held in legally separate funds set up in accordance with applicable legal requirements and common practice in each country. The medical cost plans in Brazil, Canada, Colombia, South Africa and US provide medical benefits to employees and their families after retirement. Many of the defined benefit plans are closed to new entrants. The present value of funded obligations includes a 126m US dollar liability related to two medical plans in Brazil, for which the benefits are provided through the Fundação Antonio Helena Zerrenner (“FAHZ”). The FAHZ is a legally distinct entity which provides medical, dental, educational and social assistance to current and retired employees of Ambev. As at 31 December 2020, the actuarial liabilities related to the benefits provided by the FAHZ are fully offset by an equivalent amount of assets existing in the fund. The net liability recognized in the balance sheet is nil. The employee benefit net liability amounts to 2 964m US dollar as at 31 December 2020 compared to 2 834m US dollar as at 31 December 2019. In 2020, the fair value of the plan assets increased by 207m US dollar and the defined benefit obligations increased by 353m US dollar. The increase in the employee benefit net liability is mainly driven by decreases in the discount rates. The company’s net liability for post-employment and long-term employee benefit plans comprises the following as at 31 December 2020 and 2019: Million US dollar 2020 2019 Present value of funded obligations (7 703 ) (7 333 ) Fair value of plan assets 5 649 5 442 Present value of net obligations for funded plans (2 054 ) (1 891 ) Present value of unfunded obligations (793 ) (810 ) Present value of net obligations (2 847 ) (2 701 ) Unrecognized asset (31 ) (74 ) Net liability (2 878 ) (2 775 ) Other long term employee benefits (86 ) (59 ) Total employee benefits (2 964 ) (2 834 ) Employee benefits amounts in the balance sheet: Liabilities (2 970 ) (2 848 ) Assets 6 14 Net liability (2 964 ) (2 834 ) The changes in the present value of the defined benefit obligations are as follows: Million US dollar 2020 2019 2018 Defined benefit obligation at 1 January (8 143 ) (7 568 ) (8 410 ) Current service costs (72 ) (67 ) (72 ) Interest cost (250 ) (326 ) (322 ) Past service gain/(cost) 16 (9 ) (3 ) Settlements 153 109 45 Benefits paid 519 596 493 Contribution by plan participants (2 ) (2 ) (3 ) Actuarial gains/(losses) – demographic assumptions 20 61 27 Actuarial gains/(losses) – financial assumptions (690 ) (912 ) 350 Experience adjustments (12 ) 29 14 Exchange differences (35 ) (86 ) 313 Transfers and other movements — 32 — Defined benefit obligation at 31 December (8 496 ) (8 143 ) (7 568 ) As at the last valuation date, the present value of the defined benefit obligation was comprised of approximately 1.8 billion US dollar relating to active employees, 1.9 billion US dollar relating to deferred members and 4.8 billion US dollar relating to members in retirement. The changes in the fair value of plan assets are as follows: Million US dollar 2020 2019 2018 Fair value of plan assets at 1 January 5 442 5 059 5 623 Interest income 168 218 225 Administration costs (19 ) (23 ) (14 ) Return on plan assets exceeding interest income 332 579 (333 ) Contributions by AB InBev 394 294 307 Contributions by plan participants 2 2 3 Benefits paid net of administration costs (519 ) (596 ) (493 ) Assets distributed on settlements (146 ) (107 ) (45 ) Exchange differences (9 ) 46 (214 ) Transfers and other movements 4 (30 ) — Fair value of plan assets at 31 December 5 649 5 442 5 059 Actual return on plans assets amounted to a gain of 500m US dollar in 2020 compared to a gain of 797m US dollar in 2019. The changes in the unrecognized asset are as follows: Million US dollar 2020 2019 2018 Irrecoverable surplus impact at 1 January (74 ) (77 ) (111 ) Interest expense (4 ) (7 ) (10 ) Changes excluding amounts included in interest expense 47 9 44 Irrecoverable surplus impact at 31 December (31 ) (74 ) (77 ) The expense recognized in the income statement with regard to defined benefit plans can be detailed as follows: Million US dollar 2020 2019 2018 Current service costs (72 ) (67 ) (72 ) Administration costs (19 ) (23 ) (14 ) Past service cost due to plan amendments and curtailments 16 66 (3 ) (Losses)/gains due to experience and demographic assumption changes 6 1 3 Profit from operations (69 ) (23 ) (86 ) Net finance cost (87 ) (114 ) (107 ) Total employee benefit expense (156 ) (137 ) (193 ) The employee benefit expense is included in the following line items of the income statement: Million US dollar 2020 2019 2018 Cost of sales (28 ) (17 ) (26 ) Distribution expenses (9 ) (5 ) (11 ) Sales and marketing expenses (18 ) (4 ) (16 ) Administrative expenses (20 ) 3 (28 ) Other operating (expense)/income (1 ) — (6 ) Exceptional 7 — 1 Net finance cost (87 ) (114 ) (107 ) (156 ) (137 ) (193 ) Weighted average assumptions used in computing the benefit obligations of the company’s significant plans at the balance sheet date are as follows: 2020 Million US dollar United Canada Mexico Brazil United AB InBev Discount rate 2.5 % 2.4 % 6.3 % 6.9 % 1.4 % 2.6 % Price inflation 2.5 % 2.0 % 3.5 % 3.3 % 3.1 % 2.6 % Future salary increases — 1.0 % 4.3 % 6.9%-5.0 % — 3.7 % Future pension increases — 2.0 % 3.5 % 3.3 % 2.9 % 2.6 % Medical cost trend rate 5.5%-4.5 % 4.5 % — 6.9 % — 6.0%-5.7 % Life expectation for a 65 year old male 86 87 82 85 87 85 Life expectation for a 65 year old female 87 90 85 88 89 88 2019 Million US dollar United Canada Mexico Brazil United AB InBev Discount rate 3.3 % 3.1 % 7.5 % 7.2 % 2.0 % 3.3 % Price inflation 2.5 % 2.0 % 3.5 % 3.8 % 3.1 % 2.7 % Future salary increases — 1.0 % 4.3 % 7.4%-5.4 % — 3.8 % Future pension increases — 2.0 % 3.5 % 3.8 % 2.9 % 2.7 % Medical cost trend rate 6.5%-4.5 % 4.5 % — 7.4 % — 6.6%-6.1 % Life expectation for a 65 year old male 85 87 82 85 87 85 Life expectation for a 65 year old female 87 89 85 88 89 87 Through its defined benefit pension plans and post-employment medical plans, the company is exposed to a number of risks, the most significant are detailed below: INVESTMENT STRATEGY In case of funded plans, the company ensures that the investment positions are managed within an asset-liability matching (ALM) framework that has been developed to achieve long-term investments that are in line with the obligations under the pension schemes. Within this framework, the company’s ALM objective is to match assets to the pension obligations by investing in long-term fixed interest securities with maturities that match the benefit payments as they fall due and in the appropriate currency. The company actively monitors how the duration and the expected yield of the investments are matching the expected cash outflows arising from the pension obligation. ASSET VOLATILITY In general, the company’s funded plans are invested in a combination of equities and bonds, generating high but volatile returns from equities and at the same time stable and liability-matching returns from bonds. As the plans mature, the company usually reduces the level of investment risk by investing more in assets that better match the liabilities. Since 2015, the company started the implementation of a pension de-risking CHANGES IN BOND YIELDS A decrease in corporate bond yields will increase plan liabilities, although this will be partially offset by an increase in the value of the plans’ bond holdings. INFLATION RISK Some of the company’s pension obligations, mainly in the UK, are linked to inflation, and higher inflation will lead to higher liabilities. The majority of the plan’s assets are either unaffected by or loosely correlated with inflation, meaning that an increase in inflation could potentially increase the company’s net benefit obligation. LIFE EXPECTANCY The majority of the plans’ obligations are to provide benefits for the life of the member, so increases in life expectancy will result in an increase in the plans’ liabilities. The weighted average duration of the defined benefit obligation in 2020 is 13.9 years (2019: 13.8 years). The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is: Million US dollar 2020 Change in assumption Increase in assumption Decrease in assumption Discount rate 0.5 % (552 ) 607 Price inflation 0.5 % 211 (214 ) Future salary increase 0.5 % 36 (33 ) Medical cost trend rate 1 % 38 (33 ) Longevity One year 283 (280 ) The above are purely hypothetical changes in individual assumptions holding all other assumptions constant: economic conditions and changes therein will often affect multiple assumptions at the same time and the effects of changes in key assumptions are not linear. Sensitivities are reasonably possible changes in assumptions, and they are calculated using the same approach as was used to determine the defined benefit obligation. Therefore, the above information is not necessarily a reasonable representation of future results. The fair value of plan assets at 31 December consists of the following: 2020 2019 Million US dollar Quoted Unquoted Total Quoted Unquoted Total Government bonds 33 % — 33 % 33 % — 33 % Corporate bonds 34 % — 34 % 35 % — 35 % Equity instruments 25 % — 25 % 23 % — 23 % Property — 3 % 3 % — 4 % 4 % Insurance contracts and others 3 % 2 % 5 % 4 % 1 % 5 % 95 % 5 % 100 % 95 % 5 % 100 % AB InBev expects to contribute approximately 289m US dollar for its funded defined benefit plans and 74m US dollar in benefit payments to its unfunded defined benefit plans and post-retirement medical plans in 2021. |
Share-based payments
Share-based payments | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Share-based payments | 26. Share-based payments 1 Different share and share option programs allow company senior management and members of the board of directors to receive or acquire shares of AB InBev, Ambev or Budweiser APAC. AB InBev has three primary share-based compensation plans, the share-based compensation plan (“Share-Based Compensation Plan”), the long-term restricted stock unit plan for directors (“Restricted Stock Units Plan for Directors), and the long-term incentive plan for executives (“LTI Plan Executives”). For all option plans, the fair value of share-based payment compensation is estimated at grant date, using a binomial Hull model, modified to reflect the IFRS 2 Share-based Payment Share-based payment transactions resulted in a total expense of 169m US dollar for 2020, as compared to 340m US dollar for 2019 and 353m US dollar for 2018. COVID-19 AB INBEV SHARE-BASED COMPENSATION PROGRAMS Share-Based Compensation Plan for Executives As from 1 January 2010, the structure of the Share-Based Compensation Plan for certain executives in the general headquarters, has been modified. From 1 January 2011 onwards, the new plan structure applies to all other senior management. Under this plan, members of the Executive Committee and other senior employees receive their bonus in cash but have the choice to invest some or all of the value of their bonus in AB InBev shares with a five-year lock-up lock-up lock-up In 2020, AB InBev issued 0.2m of matching restricted stock units in relation to bonuses granted to company employees and management (2019: 1.6m of matching restricted stock units). These matching restricted stock units are valued at the share price as of the grant date, represent a fair value of approximately 9m US dollar and cliff vest after five years (2019: 153m US dollar). Restricted Stock Units Plan for Directors Since the annual shareholder meeting of 24 April 2019, the share-based portion of the remuneration of the directors of the company has been granted in the form of restricted stock units and will no longer be granted in the form of stock options as was previously the case. Such restricted stock units vest after 5 years and, upon vesting, entitle their holders to one AB InBev share per restricted stock unit. During 2020, 0.1m restricted stock units with an estimated fair value of 4m US dollar were granted to directors (2019: 0.1m with an estimated fair value of 4m US dollar). Annual and Exceptional LTI Plans for Executives As from 1 July 2009, senior employees are eligible for an annual long-term incentive to be paid out in LTI stock options (or, in the future, similar share-based instruments), depending on management’s assessment of the employee’s performance and future potential. In 2020, AB InBev issued 38.1m LTI stock options with an estimated fair value of 287m US dollar (2019: 8.1m LTI stock options with an estimated fair value of 91m US dollar) as an exceptional long-term retention incentive. Out of these stock options, 3.6m stock options were granted to members of the Executive Committee (2019: 0.4m stock options). As from 1 December 2020, under a sub-plan Recurring LTI Restricted Stock Units Plans for Executives AB InBev has specific recurring long-term Restricted Stock Units incentive programs in place, including: • A program allowing for the offer of restricted stock units to certain members of senior management in certain specific circumstances, e.g. as a special retention incentive or to compensate for assignments of expatriates in countries with difficult living conditions. The restricted stock units vest after five years and in the event that an employee’s service is terminated before the vesting date, special forfeiture rules apply. In 2020, 7m restricted stock units with an estimated fair value of 307m US dollar were granted under these programs (2019: 0.9m restricted stock units with an estimated fair value of 74m US dollar). Out of these, 0.8m restricted stock units were granted to members of the Executive Committee (2019: nil). • A program allowing for the exceptional offer of restricted stock units to certain members of senior management in order to provide a long-term retention incentive for key employees of the company. Members of senior management eligible to receive a grant under this program receive two series of restricted stock units, with the first series of the restricted stock units vesting after five years, and the second series vesting after ten years. Alternatively, under this program, the restricted stock units may be granted with a shorter vesting period of 2.5 to 3 years for the first series and 5 years for the second series of the restricted 1 Amounts have been converted to US dollar at the average rate of the period, unless otherwise indicated. stock units. In the event that an employee’s service is terminated before the vesting date, special forfeiture rules apply. As at 2017, instead of restricted stock units, stock options may be granted under the program with similar vesting and forfeiture rules. Each option gives the grantee the right to purchase one existing AB InBev share. In 2020, no restricted stock units nor stock options were granted (2019: 0.1m stock options with an estimated fair value of 2m US dollar). • A program allowing for certain employees to purchase company shares at a discount and that is aimed at providing a long-term retention incentive for (i) high-potential employees of the company, who are at a mid-manager • A program allowing for the offer of performance-based Restricted Stock Units (Performance RSUs) to certain members of the company’s senior management. Upon vesting, each Performance RSU gives the executive the right to receive one existing AB InBev share. The Performance RSUs can have a vesting period of five or ten years. The shares resulting from the vesting of the Performance RSUs will only be delivered provided a performance test is met by the company. Forfeiture rules apply if the employee leaves the company before the vesting date or if the performance test is not achieved by a certain date. These Performance RSUs are subject to an organic EBITDA compounded annual growth rate target set by the Board. Other performance test criteria may be used for future grants, but they will remain in line with the company’s high-performance culture and the creation of long-term sustainable value for its shareholders. In 2020, no restricted stock units were granted under this program (2019: nil). • A series of sub-plans sub-plans sub-plans Performance related incentive plan for ZX Ventures In 2016, the company implemented a new performance related incentive plan which substitutes the long-term incentive stock option plan for executives of ZX Ventures. ZX Ventures is our global growth and innovation group whose mandate is to invest in, incubate and develop new products and businesses that address emerging consumer needs. In 2020, 1.2m performance units were granted to senior management of ZX Ventures (2019: 3.8m performance units). The value of the performance units will depend on the return of ZX Ventures. These units vest after 5 years provided that a performance test is met. Specific forfeiture rules apply in the event that the executive leaves the company. Other programs In order to maintain the consistency of benefits granted to executives and to encourage the international mobility of executives, an option exchange program can be executed whereby unvested options are exchanged for restricted shares that remain locked-up locked-up The Board has also approved the early release of vesting conditions of unvested stock options or restricted stock units that are vesting within 6 months of the executives’ relocation. The shares that result from the early exercise of the options or the early vesting of the restricted stock units must remain blocked until the end of the initial vesting period. In 2020, 0.1m restricted stock units were accelerated under this program for members of the senior management (2019: 0.1m stock options and restricted stock units). The weighted average fair value of the options and assumptions used in applying the AB InBev option pricing model for the 2020, 2019 and 2018 grants of awards described above are as follows: Amounts in US dollar unless otherwise indicated 2020 2019 2018 Fair value of options granted 7.54 11.79 16.92 Share price 46.35 78.46 98.66 Exercise price 46.35 78.46 98.66 Expected volatility 25 % 23 % 23 % Expected dividends 3.00 % 3.00 % 3.00 % Risk-free interest rate -0.32 % 0.43 % 0.39 % Expected volatility is based on historical volatility calculated over a 10-year The total number of outstanding AB InBev options developed as follows: Million options 2020 2019 2018 Options outstanding at 1 January 88.7 92.6 93.0 Options issued during the year 38.1 13.8 5.2 Options exercised during the year (3.9 ) (10.7 ) (1.7 ) Options forfeited during the year (9.0 ) (7.0 ) (4.0 ) Options outstanding at the end of December 113.3 88.7 92.6 The range of exercise prices of the outstanding options is between 10.32 euro (12.66 US dollar) 1 Out of the 113.3m outstanding options, 21.8m are vested at 31 December 2020. The weighted average exercise price of the AB InBev options is as follows: Amounts in US dollar 2020 2019 2018 Options outstanding at 1 January 79.66 94.74 98.32 Granted during the year 53.41 83.33 104.77 Exercised during the year 29.92 29.27 44.96 Forfeited during the year 117.82 108.44 113.19 Outstanding at the end of December 71.22 79.66 94.74 Exercisable at the end of December 99.54 65.33 21.40 For share options exercised during 2020, the weighted average share price at the date of exercise was 45.23 euro (55.51 US dollar) 1 The total number of outstanding AB InBev restricted stock units developed as follows: Million restricted stock units 2020 2019 2018 Restricted stock units outstanding at 1 January 9.9 6.0 5.4 Restricted stock units issued during the year 10.9 5.5 2.3 Restricted stock units exercised during the year (0.7 ) (1.0 ) (0.5 ) Restricted stock units forfeited during the year (0.9 ) (0.7 ) (1.2 ) Restricted stock units outstanding at the end of December 19.1 9.9 6.0 AMBEV SHARE-BASED COMPENSATION PROGRAMS Since 2005, Ambev has had in place a plan which is substantially similar to the Share-based compensation plan under which bonuses granted to company employees and management are partially settled in shares. Under the Share-based compensation plan, Ambev issued 0.2m deferred stock units with an estimated fair value of 1m US dollar in 2020 (2019: 0.2m deferred stock units with an estimated fair value of 1m US dollar). Since 2018, Ambev has had in place a plan which is substantially similar to the Share-based compensation plan under which bonuses granted to company employees and management are partially settled in shares. Under the Share-based compensation plan, Ambev issued 21.1m restricted stock units in 2020 with an estimated fair value of 61m US dollar (2019: 11.8m restricted stock units with an estimated fair value of 54m US dollar). As of 2010, senior employees are eligible for an annual long-term incentive to be paid out in Ambev LTI stock options (or, in the future, similar share-based instruments), depending on management’s assessment of the employee’s performance and future potential. In 2020, Ambev granted 22 thousand LTI stock options (2019: 24.6m LTI stock options with an estimated fair value of 28m US dollar). The weighted fair value of the options and assumptions used in applying a binomial option pricing model for the 2020 Ambev grants are as follows: Amounts in US dollar unless otherwise indicated 1 2020 2019 2018 Fair value of options granted 0.78 1.12 1.47 Share price 3.47 4.38 4.66 Exercise price 3.47 4.38 4.66 Expected volatility 22 % 24 % 26 % Expected dividends 0.00% - 5.00 % 0.00% - 5.00 % 0.00% - 5.00 % Risk-free interest rate 6.8 % 7.8 % 9.6 % 1 Amounts have been converted to US dollar at the closing rate of the respective period. The total number of outstanding Ambev options developed as follows: Million options 2020 2019 2018 Options outstanding at 1 January 141.8 141.3 135.2 Options issued during the year — 24.6 19.9 Options exercised during the year (5.7 ) (7.8 ) (10.0 ) Options forfeited during the year (8.8 ) (16.3 ) (3.8 ) Options outstanding at the end of December 127.3 141.8 141.3 The range of exercise prices of the outstanding options is between 11.97 Brazilian real (2.30 US dollar) and 43.95 Brazilian real (8.46 US dollar) while the weighted average remaining contractual life is 6.43 years. Of the 127.3m outstanding options 36.5m options are vested at 31 December 2020. The weighted average exercise price of the Ambev options is as follows: Amounts in US dollar 2020 2019 2018 Options outstanding at 1 January 4.60 4.17 3.94 Granted during the year 3.47 4.48 4.66 Exercised during the year 1.60 2.25 1.93 Forfeited during the year 4.42 5.27 4.79 Outstanding at the end of December 3.81 4.60 4.17 Exercisable at the end of December 4.56 4.74 0.58 For share options exercised during 2020, the weighted average share price at the date of exercise was 15.23 Brazilian real (2.93 US dollar). The total number of outstanding Ambev deferred and restricted stock units developed as follows: Million restricted stock units 2020 2019 2018 Restricted stock units outstanding at 1 January 31.7 25.0 16.3 Restricted stock units issued during the year 21.3 12.0 13.5 Restricted stock units vested during the year (1.9 ) (4.2 ) (3.7 ) Restricted stock units forfeited during the year (1.5 ) (1.1 ) (1.1 ) Restricted stock units outstanding at the end of December 49.6 31.7 25.0 Additionally, as a means of creating a long term incentive (wealth incentive) for certain senior employees and members of management considered as having “high potential”, share appreciation rights in the form of phantom stocks have been granted to those employees, pursuant to which the beneficiary shall receive two separate lots – Lot A and Lot B – subject to lockup periods of five and ten years, respectively. In 2020, Ambev did not issue any share appreciation rights. During 2020, a limited number of Ambev shareholders who are part of the senior management of AB InBev were given the opportunity to exchange Ambev shares against a total of 0.1m AB InBev shares (2019: 0.1m AB InBev shares) at a discount of 16.66% provided that they stay in service for another five years. The fair value of this transaction amounts to approximately 1m US dollar (2019: 1m US dollar) and is expensed over the five years’ service period. The fair values of the Ambev and AB InBev shares were determined based on the market price. BUDWEISER APAC SHARE-BASED COMPENSATION PROGRAM LTI Stock Option Plans for Executives In December 2019, Budweiser APAC set up a new long-term incentive plan in which certain employees are eligible for an annual grant to be paid out in Budweiser APAC stock options (or, in the future, similar share-based instruments), depending on management’s assessment of the employee’s performance and future potential. In 2020, Budweiser APAC granted 69.7m stock options with an estimated fair value of 52m US dollar (2019: 9.0m LTI stock options with an estimated fair value of 10m US dollar). Discretionary Restricted Stock Units Plan In December 2019, Budweiser APAC set up a new discretionary restricted stock units plan which allows for the offer of restricted stock units to certain employees in certain specific circumstances, at the discretion of the Board, e.g. as a special retention incentive. The restricted stock units vest after three to five years and in the event that an employee’s service is terminated before the vesting date, special forfeiture rules apply. In 2020, 29.7m restricted stock units with an estimated fair value of 84m US dollar were granted under this program to a selected number of employees (2019: 4.0m restricted stock units with an estimated fair value of 13m US dollar). Share-Based Compensation Plan In March 2020, Budweiser APAC set up a program allowing for certain employees to invest some or all of their variable compensation in Budweiser APAC shares (Voluntary Shares). As an additional reward, employees who invest in Voluntary Shares also receive a company shares match of three matching shares for each Voluntary Share invested up to a limited total percentage of each employee’s variable compensation. During 2020, Budweiser APAC issued 0.2m matching restricted stock units in relation to bonuses granted to Budweiser APAC employees. These matching restricted stock units are valued at the share price at the day of grant representing a fair value of approximately 1m US dollar and cliff vest after five years. People Bet Plan In March 2020, Budweiser APAC set up a program allowing for certain employees to purchase Budweiser APAC shares at a discount which is aimed at providing a long-term retention incentive for high-potential employees of the company, who are at a mid-manager New Restricted Stock Units Plan In November 2020, Budweiser APAC set up a new restricted stock units plan which allows for the offer of restricted stock units to certain eligible employees in certain specific circumstances, at the discretion of the Board, e.g. as a long term incentive. The vesting period of the restricted stock units is in principle five years without a performance test and in the event of termination of service before the vesting date, forfeiture rules apply. The Board may set shorter or longer periods for specific grants or introduce performance tests similar to other programs in the company. During the year ended 31 December 2020, 6.8m restricted stock units with an estimated fair value of 23m US dollar were granted under this program to a selected number of employees (2019: nil). |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Provisions | 27. Provisions Million US dollar Restructuring Disputes Other Total Balance at 1 January 2020 103 436 372 911 Effect of movements in foreign exchange 8 (40 ) (24 ) (56 ) Provisions made 55 102 107 264 Provisions used (54 ) (80 ) (91 ) (225 ) Provisions reversed (7 ) (24 ) (1 ) (32 ) Other movements (1 ) 95 (193 ) (99 ) Balance at 31 December 2020 104 489 170 763 Million US dollar Restructuring Disputes Other Total Balance at 1 January 2019 130 1 077 711 1 918 Effect of movements in foreign exchange (2 ) (13 ) — (15 ) Provisions made 69 234 2 305 Provisions used (78 ) (128 ) (293 ) (499 ) Provisions reversed (16 ) (92 ) (38 ) (146 ) Other movements — (642 ) (10 ) (552 ) Balance at 31 December 2019 103 436 372 911 The restructuring provisions are primarily explained by the organizational alignments - see also Note 8 Exceptional items In 2016, the European Commission announced an investigation into the alleged abuse of a dominant position by AB InBev in Belgium through certain practices aimed at restricting trade from other European Union member states to Belgium. In connection with these ongoing proceedings, AB InBev recognized a provision of 230m US dollar in 2018. On 13 May 2019, the European Commission announced that it had fined AB InBev a total of 200m euro (226m US dollar) for breaching EU antitrust rules. The fine was paid in August 2019. Effective 1 January 2019, AB InBev adopted IFRIC 23 Uncertainty over Income Tax Treatments The provisions are expected to be settled within the following time windows: Million US dollar Total < 1 year 1-2 years 2-5 years > 5 years Restructuring 104 54 15 14 21 Indirect taxes 109 8 55 1 45 Labor 125 15 26 74 10 Commercial 31 9 14 6 2 Environmental 5 5 — — — Excise duties 24 — 17 7 — Other disputes 195 46 134 15 — Disputes 489 83 246 103 57 Other provisions 170 82 84 4 — Total provisions 763 219 345 121 78 AB InBev is subject to the greenhouse gas emission allowance trading scheme in force in the European Union and a similar scheme in South Korea. Acquired emission allowances are recognized at cost as intangible assets. To the extent that it is expected that the number of allowances needed to settle the CO 2 |
Trade and other payables
Trade and other payables | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Trade and other payables | 28. Trade and other payables Million US dollar 31 December 2020 31 December 2019 Indirect taxes payable 252 174 Trade payables 98 237 Deferred consideration on acquisitions 1 082 1 418 Other payables 90 113 Non-current 1 522 1 943 Trade payables and accrued expenses 15 898 15 876 Payroll and social security payables 800 736 Indirect taxes payable 2 629 2 708 Interest payable 1 625 1 679 Consigned packaging 1 010 1 106 Dividends payable 427 338 Deferred income 27 21 Deferred consideration on acquisitions 301 221 Other payables 249 179 Current trade and other payables 22 965 22 864 As at 31 December 2020, deferred consideration on acquisitions is mainly comprised of 0.7 billion US dollar for the put option included in the 2012 shareholders’ agreement between Ambev and ELJ, which may result in Ambev acquiring additional shares in Cervecería Nacional Dominicana S.A. (“CND”) (31 December 2019: 0.7 billion US dollar). The terms of the shareholders’ agreement were amended as described in Note 29 Risk arising from financial instruments |
Risks arising from financial in
Risks arising from financial instruments | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Risks arising from financial instruments | 29. Risks arising from financial instruments FINANCIAL ASSETS AND FINANCIAL LIABILITIES Set out below is an overview of financial assets 1 31 December 2020 31 December 2019 Million US dollar At At fair At fair Total At At fair At fair Total Trade and other receivables 4 493 — — 4 493 5 444 — — 5 444 Unquoted debt (debt instruments) 22 — — 22 25 — — 25 Quoted debt (debt instruments) — 396 — 396 — 91 — 91 Unquoted companies (equity instruments) — — 115 115 — — 85 85 Derivatives not designated in hedge accounting relationships: Equity swaps — 27 — 27 — 17 — 17 Interest rate swaps — 45 — 45 — 18 — 18 Cross currency interest rate swaps — 7 — 7 — 102 — 102 Derivatives designated in hedge accounting relationships: Foreign exchange forward contracts — — 480 480 — — 112 112 Foreign currency futures — — 36 36 — — 7 7 Interest rate swaps — — 35 35 — — — — Cross currency interest rate swaps — — 100 100 — — 55 55 Commodities — — 235 235 — — 52 52 Financial assets 4 515 474 1 001 5 991 5 469 229 311 6 009 Non-current 588 79 174 841 664 136 81 881 Current 3 928 396 827 5 150 4 803 93 230 5 126 Trade and other payables 20 807 — — 20 807 21 187 — — 21 187 Interest-bearing loans and borrowings: Secured bank loans 702 — — 702 861 — — 861 Unsecured bank loans 294 — — 294 185 — — 185 Unsecured bond issues 93 725 — — 93 725 98 206 — — 98 206 Unsecured other loans 83 — — 83 97 — — 97 Commercial paper 1 522 — — 1 522 1 599 — — 1 599 Bank overdrafts 5 — — 5 68 — — 68 Lease liabilities 2 234 — — 2 234 2 026 — — 2 026 Derivatives not designated in hedge accounting relationships: Equity swaps — 5 353 — 5 353 — 3 146 — 3 146 Cross currency interest rate swaps — 446 — 446 — 140 — 140 Other derivatives — 321 — 321 — 156 — 156 Derivatives designated in hedge accounting relationships: Foreign exchange forward contracts — — 370 370 — — 435 435 Cross currency interest rate swaps — — 264 264 — — 35 35 Interest rate swaps — — — — — — 4 4 Commodities — — 26 26 — — 97 97 Equity swaps — — 21 21 — — 31 31 Other derivatives — — 5 5 — — 107 107 Financial liabilities 119 372 6 119 685 126 176 124 228 3 442 709 128 379 Non-current 96 748 1 758 — 98 506 99 335 349 — 99 684 Current 22 623 4 361 685 27 670 24 895 3 092 709 28 696 1 Cash and short-term deposits are not included in this overview. DERIVATIVES AB InBev’s activities expose it to a variety of financial risks: market risk (including currency risk, fair value interest rate risk, cash flow interest risk, commodity risk and equity risk), credit risk and liquidity risk. The company analyses each of these risks individually as well as on a combined basis and defines strategies to manage the economic impact on the company’s performance in line with its financial risk management policy. AB InBev primarily uses the following derivative instruments: foreign currency rate agreements, exchange traded foreign currency futures, interest rate swaps and forwards, cross currency interest rate swaps (“CCIRS”), commodity swaps, exchange traded commodity futures and equity swaps. The table below provides an overview of the notional amounts of derivatives outstanding as at the dates indicated by maturity bucket. 31 December 2020 31 December 2019 Million US dollar < 1 year 1-2 years 2-3 years 3-5 years > 5 years < 1 year 1-2 years 2-3 years 3-5 years > 5 years Foreign currency Forward exchange contracts 18 505 290 — — — 21 216 36 — — — Foreign currency futures 2 218 — — — — 1 359 723 — — — Interest rate Interest rate swaps — 1 500 1 000 — — 750 — 1 500 1 000 — Cross currency interest rate swaps 513 5 658 1 400 1 866 789 15 513 5 445 500 668 Other interest rate derivatives — — — — — — — — — 565 Commodities Aluminum swaps 1 184 — — — — 1 411 22 — — — Other commodity derivatives 644 — — — — 771 20 — — — Equity Equity derivatives 10 234 2 326 — — — 11 638 — — — — FOREIGN CURRENCY RISK AB InBev is subject to foreign currency risk when contracts are denominated in a currency other than the functional currency of the entity. This includes borrowings, investments, (forecasted) sales, (forecasted) purchases, royalties, dividends, licenses, management fees and interest expense/income. To manage foreign currency risk the company uses mainly foreign currency rate agreements, exchange traded foreign currency futures and cross currency interest rate swaps. FOREIGN EXCHANGE RISK ON THE DISPOSAL OF AUSTRALIAN OPERATIONS During 2019, AB InBev entered into derivative foreign exchange forward contracts in order to economically hedge against the exposure to changes in the US dollar against the proceeds denominated in Australian dollar. These derivatives qualified for cash flow hedge accounting under IFRS 9. As of 31 December 2019, 22m US dollar positive mark-to-market FOREIGN EXCHANGE RISK ON OPERATING ACTIVITIES AB InBev’s policy is to hedge operating transactions which are reasonably expected to occur (e.g. cost of goods sold and selling, general & administrative expenses) within the forecast period determined in the financial risk management policy. Operating transactions that are considered certain to occur are hedged without any time limits. Non-operating The table below shows the company’s main net foreign currency positions for firm commitments and forecasted transactions for the most important currency pairs. The open positions are the result of the application of AB InBev’s risk management policy. Positive amounts indicate that the company is long (net future cash inflows) in the first currency of the currency pair while negative amounts indicate that the company is short (net future cash outflows) in the first currency of the currency pair. The second currency of the currency pairs listed is the functional currency of the related subsidiary. 31 December 2020 31 December 2019 Total Total Open Total Total Open Million US dollar exposure hedges position exposure hedges position Euro/Canadian dollar (9 ) 9 — (52 ) 39 (13 ) Euro/Mexican peso (106 ) 102 (4 ) (151 ) 156 5 Euro/Pound sterling (203 ) 130 (73 ) (126 ) 124 (2 ) Euro/South African rand (95 ) 65 (30 ) (99 ) 95 (4 ) Euro/South Korean won (40 ) 38 (2 ) (49 ) 46 (3 ) Euro/US dollar (354 ) 284 (70 ) (409 ) 337 (72 ) Mexican peso/Euro (249 ) 146 (103 ) (178 ) 161 (17 ) Pound sterling/Euro (35 ) 36 1 (39 ) 40 1 US dollar/Argentinian peso (602 ) 543 (59 ) (531 ) 510 (21 ) US dollar/Australian dollar — — — (216 ) 204 (12 ) US dollar/Bolivian boliviano (64 ) 56 (8 ) (69 ) 70 1 US dollar/Brazilian real (1 573 ) 1 577 4 (1 443 ) 1 447 4 US dollar/Canadian dollar (302 ) 194 (108 ) (287 ) 295 8 US dollar/Chilean peso (151 ) 129 (22 ) (109 ) 102 (7 ) US dollar/Chinese yuan (171 ) 201 30 (230 ) 191 (39 ) US dollar/Colombian peso (359 ) 352 (7 ) (278 ) 272 (6 ) US dollar/Euro (98 ) 96 (2 ) (108 ) 113 5 US dollar/Mexican peso (1 032 ) 995 (37 ) (1 105 ) 903 (202 ) US dollar/Paraguayan guarani (132 ) 125 (7 ) (124 ) 130 6 US dollar/Peruvian nuevo sol (225 ) 168 (57 ) (243 ) 205 (38 ) US dollar/South African rand (130 ) 116 (14 ) (28 ) 31 3 US dollar/South Korean won (71 ) 70 (1 ) (88 ) 99 11 US dollar/Uruguayan peso (40 ) 39 (1 ) (41 ) 41 — Others (260 ) 131 (129 ) (317 ) 250 (67 ) Further analysis on the impact of open currency exposures is performed in the currency sensitivity analysis below. Hedges of firm commitments and highly probable forecasted transactions denominated in foreign currency are designated as cash flow hedges. Foreign exchange risk on foreign currency denominated debt It is AB InBev’s policy to have the debt in the subsidiaries as much as possible linked to the functional currency of the subsidiary. To the extent this is not the case, foreign exchange risk is managed through the use of derivatives unless the cost to hedge outweighs the benefits. Interest rate decisions and currency mix of debt and cash are decided on a global basis and take into consideration the holistic risk management approach. A description of the foreign currency risk hedging of debt instruments issued in a currency other than the functional currency of the subsidiary is further detailed in the Interest Rate Risk Currency sensitivity analysis Currency transactional risk Most of AB InBev’s non-derivative 2020 Closing rate Possible 1 Volatility Euro/Mexican peso 24.48 19.38 - 29.58 20.83 % Euro/Pound sterling 0.90 0.82 - 0.98 9.09 % Euro/South Korean won 1 335.11 1 218.41 - 1 451.81 8.74 % Euro/US dollar 1.23 1.13 - 1.32 7.75 % Pound sterling/US dollar 1.36 1.22 - 1.51 10.79 % US dollar/Argentinian peso 84.14 74.55 - 93.73 11.40 % US dollar/Brazilian real 5.20 4.13 - 6.26 20.51 % US dollar/Chinese yuan 6.54 6.25 - 6.82 4.34 % US dollar/Colombian peso 3 438.52 2 908.55 - 3 968.50 15.41 % US dollar/Euro 0.81 0.75 - 0.88 7.75 % US dollar/Mexican peso 19.95 16.19 - 23.71 18.83 % US dollar/Nigerian naira 397.72 345.23 - 450.21 13.20 % US dollar/Peruvian nuevo sol 3.62 3.37 - 3.87 6.95 % US dollar/South African rand 14.69 12.19 - 17.18 16.99 % US dollar/South Korean won 1 088.02 1 000.21 - 1 175.84 8.07 % US dollar/Tanzanian shilling 2 321.74 2 205.30 - 2 438.18 5.02 % US dollar/Zambian kwacha 21.16 18.44 - 23.89 12.89 % 2019 Closing rate Possible 2 Volatility Euro/Mexican peso 21.17 19.28 - 23.06 8.92 % Euro/Pound sterling 0.85 0.79 - 0.91 7.35 % Euro/South Korean won 1 297.02 1 216.94 - 1 377.1 6.17 % Euro/US dollar 1.12 1.07 - 1.18 4.69 % Pound sterling/US dollar 1.32 1.21 - 1.43 8.08 % US dollar/Australian dollar 1.42 1.33 - 1.52 6.70 % US dollar/Argentinian peso 59.89 45.55 - 74.23 23.94 % US dollar/Brazilian real 4.03 3.54 - 4.52 12.23 % US dollar/Chinese yuan 6.96 6.62 - 7.30 4.86 % US dollar/Colombian peso 3 272.63 2 935.33 - 3 609.92 10.31 % US dollar/Euro 0.89 0.85 - 0.93 4.69 % US dollar/Mexican peso 18.85 17.25 - 20.44 8.48 % US dollar/Nigerian naira 362.59 350.58 - 374.60 3.31 % US dollar/Peruvian nuevo sol 3.32 3.17 - 3.47 4.50 % US dollar/South African rand 14.04 12.26 - 15.83 12.74 % US dollar/South Korean won 1 154.55 1 064.67 - 1 244.42 7.78 % US dollar/Tanzanian shilling 2 300.14 2 186.57 - 2 413.71 4.94 % US dollar/Zambian kwacha 14.02 11.24 - 16.81 19.85 % In case the open positions in Mexican peso, Canadian dollar, Argentinean peso and Pound sterling as of 31 December 2020 remain unchanged, considering the volatility mentioned above and all other variables held constant, these currencies could lead to an increase/decrease on the consolidated profit before tax from continuing operations of approximately 30m US dollar over the next 12 months (31 December 2019: 22m US dollar; 31 December 2018: 42m US dollar). Additionally, the AB InBev sensitivity analysis 1 pre-tax Foreign exchange risk on net investments in foreign operations AB InBev mitigates exposures of its investments in foreign operations using both derivative and non-derivative As of 31 December 2020, designated derivative and non-derivative 1 Sensitivity analysis is assessed based on the yearly volatility using daily observable market data during 250 days at 31 December 2020. 2 Sensitivity analysis is assessed based on the yearly volatility using daily observable market data during 250 days at 31 December 2019. Net foreign exchange results Foreign exchange results recognized on unhedged and hedged exposures are as follows: Million US dollar 2020 2019 2018 restated Economic hedges (181 ) 6 (210 ) Other results - not hedged 195 (186 ) 230 43 (180 ) 19 INTEREST RATE RISK The company applies a dynamic interest rate hedging approach whereby the target mix between fixed and floating rate debt is reviewed periodically. The purpose of AB InBev’s policy is to achieve an optimal balance between the cost of funding and the volatility of financial results, while taking into account market conditions as well as AB InBev’s overall business strategy. Fair value hedges US dollar fixed rate bond hedges (interest rate risk on borrowings in US dollar) The company manages and reduces the impact of changes in the US dollar interest rates on the fair value of certain fixed rate bonds with an aggregate principal amount of 1.0 billion US dollar through fixed/floating interest rate swaps. These derivative instruments have been designated in fair value hedge accounting relationships. Cash flow hedges Pound sterling bond hedges (foreign currency risk and interest rate risk on borrowings in pound sterling) In September 2013, the company issued a pound sterling bond for 500m pound sterling at a rate of 4.00% per year and maturing in September 2025. The impact of changes in the pound sterling exchange rate and interest rate on this bond is managed and reduced through pound sterling fixed/euro fixed cross currency interest rate swaps. These derivative instruments have been designated in a cash flow hedge accounting. US dollar bank loan hedges (foreign currency risk on borrowings against the Nigerian naira) The company has a floating rate loan denominated in US dollar for a total of 278m in Nigeria. This loan is held by an entity with functional currency in Nigerian Naira. In order to hedge against fluctuations in foreign exchange rates, the company entered into foreign exchange futures which have been designated in cash flow hedge relationship. Economic Hedges Marketable debt security hedges (interest rate risk on Brazilian real) During 2020, 2019 and 2018, Ambev invested in highly liquid Brazilian real denominated government debt securities. Interest rate sensitivity analysis The table below reflects the effective interest rates of interest-bearing financial liabilities at balance sheet date as well as the currency in which the debt is denominated. Before hedging After hedging 31 December 2020 Interest-bearing financial liabilities Million US dollar Effective Amount Effective Amount Floating rate Australian dollar 0.99 % 231 — — Brazilian real 3.90 % 164 3.90 % 164 Canadian dollar — — 1.23 % 1 895 Euro 0.15 % 2 690 0.15 % 2 690 Pound sterling — — 1.10 % 937 US dollar 1.05 % 617 1.13 % 201 Other 7.30 % 260 7.90 % 573 3 962 6 461 Fixed rate Australian dollar 3.91 % 846 — — Brazilian real 8.58 % 578 8.58 % 578 Canadian dollar 4.12 % 613 4.29 % 2 646 Euro 2.12 % 26 092 2.15 % 35 515 Pound sterling 4.30 % 3 655 4.36 % 2 973 South Korean won — — 1.30 % 1 997 US dollar 4.91 % 62 340 5.30 % 47 892 Other 11.96 % 479 11.72 % 502 94 602 92 103 Before hedging After hedging 31 December 2019 Interest-bearing financial liabilities Million US dollar Effective Amount Effective Amount Floating rate Australian dollar 1.87 % 210 1.87 % 210 Brazilian real 9.33 % 43 9.33 % 43 Euro 0.08 % 4 214 0.08 % 4 214 US dollar 2.36 % 1 749 2.85 % 4 269 Other 9.82 % 225 4.46 % 954 6 441 9 690 Fixed rate Australian dollar 3.71 % 1 647 3.71 % 1 647 Brazilian real 9.00 % 544 9.00 % 544 Canadian dollar 3.16 % 2 055 3.16 % 2 055 Euro 1.82 % 25 346 1.82 % 29 338 Pound sterling 3.82 % 4 373 3.79 % 3 713 South Korean won 3.37 % 15 2.46 % 1 015 US dollar 4.83 % 62 205 5.02 % 54 551 Other 7.31 % 416 6.95 % 489 96 601 93 352 As at 31 December 2020, the total carrying amount of the floating and fixed rate interest-bearing financial liabilities before hedging as listed above includes bank overdrafts of 5m US dollar (31 December 2019: 68m US dollar). As disclosed in the above table, 6 461m US dollar or 6.6% of the company’s interest-bearing financial liabilities bears interest at a variable rate. The company estimated that the reasonably possible change of the market interest rates applicable to its floating rate debt after hedging is as follows: 2020 Interest rate Possible 2 Volatility Brazilian real 2.09 % 1.74% - 2.44% 16.77 % Euro — — 16.83 % US dollar 0.24 % 0.10% - 0.38% 58.30 % 2019 Interest rate Possible 2 Volatility Brazilian real 4.42 % 3.32% - 5.52% 24.88 % Euro — — 6.43 % US dollar 1.91 % 1.51% - 2.30% 20.66 % When AB InBev applies the reasonably possible increase/decrease in the market interest rates mentioned above on its floating rate debt at 31 December 2020, with all other variables held constant, 2020 interest expense would have been 3m US dollar higher/lower (31 December 2019: 16m US dollar; 31 December 2018: 8m US dollar). This effect would be more than offset by 58m US dollar higher/lower interest income on AB InBev’s interest-bearing Interest expense Interest expense recognized on unhedged and hedged financial liabilities are as follows: Million US dollar 2020 2019 2018 restated Financial liabilities measured at amortized cost – not hedged (4 154 ) (4 264 ) (4 053 ) Fair value hedges (1 ) (46 ) (76 ) Cash flow hedges 19 15 21 Net investment hedges - hedging instruments (interest component) 2 2 35 Economic hedges 118 124 100 (4 016 ) (4 168 ) (3 973 ) COMMODITY PRICE RISK The commodity markets have experienced and are expected to continue to experience price fluctuations. AB InBev therefore uses both fixed price purchasing contracts and commodity derivatives to manage the exposure to the price volatility. The most significant commodity exposures as at 31 December 2020 and 31 December 2019 are included in the table below (expressed in outstanding notional amounts): Million US dollar 31 December 2020 31 December 2019 Aluminum swaps 1 184 1 433 Exchange traded sugar futures 74 54 Natural gas and energy derivatives 202 255 Corn swaps 160 195 Exchange traded wheat futures 83 20 Rice swaps 76 209 Plastic derivatives 50 59 1 828 2 224 1 Applicable 3-month 2 Sensitivity analysis is assessed based on the yearly volatility using daily observable market data during 250 days at 31 December 2020 and at December 2019. For the Brazilian real floating rate debt, the estimated market interest rate is composed of the InterBank Deposit Certificate (‘CDI’) and the Long-Term Interest Rate (‘TJLP’). With regard to other market interest rates, the company’s analysis is based on the 3-month Commodity price sensitivity analysis The impact of changes in the commodity prices would have an immaterial impact on AB InBev’s profit in 2020 as most of the company’s exposure is hedged using derivative contracts and designated in hedge accounting in accordance with IFRS 9 rules. The tables below show the estimated impact that changes in the price of the commodities, for which AB InBev held material derivative exposures as at 31 December 2020 and 31 December 2019, would have on the equity reserves. 2020 Pre-tax impact on equity Million US dollar Volatility of 1 Prices Prices Aluminum 14.96 % 177 (177 ) Sugar 31.48 % 23 (23 ) Energy 47.08 % 95 (95 ) Corn 32.84 % 52 (52 ) Wheat 25.30 % 21 (21 ) Rice 46.17 % 35 (35 ) Plastic 26.74 % 13 (13 ) 2019 Pre-tax impact on equity Million US dollar Volatility of 2 Prices Prices Aluminum 21.78 % 312 (312 ) Sugar 29.73 % 16 (16 ) Energy 25.86 % 66 (66 ) Corn 21.74 % 42 (42 ) Wheat 30.30 % 6 (6 ) Rice 22.64 % 47 (47 ) Plastic 24.03 % 14 (14 ) EQUITY PRICE RISK AB InBev enters into equity swap derivatives to hedge the price risk on its shares in connection with its share-based payments programs., as disclosed in Note 26 Share-based Payments. Finance cost and income As at 31 December 2020, an exposure for an equivalent of 100.5m of AB InBev shares was hedged, resulting in a total loss of (2 219)m US dollar recognized in the profit or loss account for the period, of which (1 211)m US dollar related to the company’s share-based payment programs, (511)m US dollar and (497)m US dollar related to the Modelo and SAB transactions, respectively. As at 31 December 2020 liabilities for equity swap derivates amounted to 5.4 billion US dollar (2019: 3.2 billion US dollar). Between 2012 and 2018, AB InBev reset certain equity derivatives to market price with counterparties. This resulted in a net cash inflow of 2.9 billion US dollar between 2012 and 2018 and, accordingly, a decrease of counterparty risk. Equity price sensitivity analysis The sensitivity analysis on the equity swap derivatives, calculated based on a 53.87% (2019: 25.20%; 2018: 22.03%) reasonably possible volatility of the AB InBev share price, with all the other variables held constant, would show 3 787m US dollar positive/negative impact on the 2020 profit before tax (2019: 2 066m US dollar; 2018: 1 345m US dollar). CREDIT RISK Credit risk encompasses all forms of counterparty exposure, i.e. where counterparties may default on their obligations to AB InBev in relation to lending, hedging, settlement and other financial activities. The company has a credit policy in place and the exposure to counterparty credit risk is monitored. AB InBev mitigates its exposure through a variety of mechanisms. It has established minimum counterparty credit ratings and enters into transactions only with financial institutions of investment grade rating. The company monitors counterparty credit exposures closely and reviews any external downgrade in credit rating immediately. To mitigate pre-settlement The company also has master netting agreements with all of the financial institutions that are counterparties to over the counter (OTC) derivatives. These agreements allow for the net settlement of assets and liabilities arising from different transactions with the same counterparty. Based on these factors, AB InBev considers the impact of the risk of counterparty default as at 31 December 2020 to be limited. The impairment loss recognized in 2020 includes AB InBev’s estimate of overdue receivables the company will not be able to collect from defaulting customers as a result of the COVID-19 1 Sensitivity analysis is assessed based on the yearly volatility using daily observable market data during 250 days at 31 December 2020. 2 Sensitivity analysis is assessed based on the yearly volatility using daily observable market data during 250 days at 31 December 2019. Exposure to credit risk The carrying amount of financial assets represents the maximum credit exposure of the company. The carrying amount is presented net of the impairment losses recognized. The maximum exposure to credit risk at the reporting date was: 31 December 2020 31 December 2019 Million US dollar Gross Impairment Net carrying Gross Impairment Net carrying Investment in unquoted companies 121 (6 ) 115 92 (7 ) 85 Investment in debt securities 418 — 418 117 — 117 Trade receivables 3 593 (308 ) 3 285 4 219 (173 ) 4 046 Cash deposits for guarantees 184 — 184 219 — 219 Loans to customers 142 — 142 177 — 177 Other receivables 1 299 (62 ) 1 237 1 666 (103 ) 1 563 Derivatives 965 — 965 362 — 362 Cash and cash equivalents 15 252 — 15 252 7 238 — 7 238 21 974 (376 ) 21 598 14 090 (283 ) 13 807 There was no significant concentration of credit risks with any single counterparty as of 31 December 2020 and no single customer represented more than 10% of the total revenue of the group in 2020. Impairment losses The allowance for impairment recognized during the period per classes of financial assets was as follows: 2020 Million US dollar Trade receivables FVOCI Other Total Balance at 1 January (173 ) (6 ) (103 ) (283 ) Impairment losses (93 ) — (6 ) (99 ) Derecognition 7 — 42 49 Currency translation and other (50 ) — 4 (46 ) Balance at 31 December (308 ) (6 ) (62 ) (376 ) 2019 Million US dollar Trade receivables FVOCI Other Total Balance at 1 January (160 ) (7 ) (106 ) (273 ) Impairment losses (51 ) — (30 ) (81 ) Derecognition 26 — 31 57 Currency translation and other 12 — 2 14 Balance at 31 December (173 ) (7 ) (103 ) (283 ) 2018 Million US dollar Trade receivables FVOCI Other Total Balance at 1 January (194 ) (7 ) (117 ) (318 ) Impairment losses (40 ) — (3 ) (43 ) Derecognition 29 — 6 35 Currency translation and other 44 — 9 53 Balance at 31 December (160 ) (7 ) (106 ) (273 ) LIQUIDITY RISK Historically, AB InBev’s primary sources of cash flow have been cash flows from operating activities, the issuance of debt, bank borrowings and equity securities. AB InBev’s material cash requirements have included the following: • Debt servicing; • Capital expenditures; • Investments in companies; • Increases in ownership of AB InBev’s subsidiaries or companies in which it holds equity investments; • Share buyback programs; and • Payments of dividends and interest on shareholders’ equity. The company believes that cash flows from operating activities, available cash and cash equivalents as well as short term investments, along with related derivatives and access to borrowing facilities, will be sufficient to fund capital expenditures, financial instrument liabilities and dividend payments going forward. It is the intention of the company to continue to reduce its financial indebtedness through a combination of strong operating cash flow generation and continued refinancing. The following are the nominal contractual maturities of non-derivative 31 December 2020 Million US dollar Carrying 1 Contractual Less than 1-2 2-3 3-5 More than Non-derivative Secured bank loans (702 ) (735 ) (675 ) (14 ) (12 ) (10 ) (24 ) Commercial papers (1 522 ) (1 522 ) (1 522 ) — — — — Unsecured bank loans (294 ) (299 ) (299 ) — — — — Unsecured bond issues (93 725 ) (165 812 ) (3 582 ) (4 057 ) (3 823 ) (16 557 ) (137 793 ) Unsecured other loans (83 ) (115 ) (13 ) (8 ) (6 ) (57 ) (31 ) Lease liabilities (2 234 ) (2 455 ) (460 ) (425 ) (315 ) (424 ) (831 ) Bank overdraft (5 ) (5 ) (5 ) — — — — Trade and other payables (24 496 ) (24 688 ) (22 (1 (135 ) (197 ) (347 ) (123 061 ) (195 631 ) (29 462 ) (5 607 ) (4 291 ) (17 245 ) (139 026 ) Derivative financial liabilities Interest rate derivatives — — — — — — — Foreign exchange derivatives (696 ) (696 ) (696 ) — — — — Cross currency interest rate swaps (709 ) (852 ) (8 ) (575 ) (98 ) (132 ) (39 ) Commodity derivatives (26 ) (26 ) (26 ) — — — — Equity derivatives (5 373 ) (5 372 ) (4 455 ) (917 ) — — — (6 803 ) (6 901 ) (5 159 ) (1 (98 ) (132 ) (39 ) Of which: related to cash flow hedges (418 ) (418 ) (353 ) — — (65 ) — 31 December 2019 Million US dollar Carrying 1 Contractual Less than 1-2 years 2-3 years 3-5 years More than Non-derivative Secured bank loans (861 ) (890 ) (795 ) (18 ) (18 ) (22 ) (37 ) Commercial papers (1 599 ) (1 599 ) (1 599 ) — — — — Unsecured bank loans (185 ) (188 ) (140 ) (47 ) (1 ) — — Unsecured bond issues (98 206 ) (165 424 ) (5 513 ) (6 415 ) (6 518 ) (18 605 ) (128 373 ) Unsecured other loans (98 ) (131 ) (27 ) (17 ) (9 ) (5 ) (73 ) Lease liabilities (2 025 ) (2 338 ) (404 ) (350 ) (243 ) (285 ) (1 056 ) Bank overdraft (68 ) (68 ) (68 ) — — — — Trade and other payables (24 806 ) (25 152 ) (22 861 ) (1 227 ) (472 ) (165 ) (427 ) (127 848 ) (195 790 ) (31 407 ) (8 074 ) (7 261 ) (19 082 ) (129 966 ) Derivative financial liabilities Interest rate derivatives (102 ) (103 ) (7 ) (1 ) (1 ) 3 (97 ) Foreign exchange derivatives (600 ) (600 ) (600 ) — — — — Cross currency interest rate swaps (175 ) (187 ) 75 (285 ) 6 75 (58 ) Commodity derivatives (97 ) (97 ) (97 ) — — — — Equity derivatives (3 177 ) (3 177 ) (3 177 ) — — — — (4 151 ) (4 164 ) (3 806 ) (286 ) 5 78 (155 ) Of which: related to cash flow hedges (448 ) (448 ) (408 ) 5 3 5 (53 ) 1 “Carrying amount” refers to net book value as recognized in the balance sheet at each reporting date. CAPITAL MANAGEMENT AB InBev continuously optimizes its capital structure to maximize shareholder value while keeping the financial flexibility to execute strategic projects. AB InBev’s capital structure policy and framework aims to optimize shareholder value through cash flow distribution to the company from its subsidiaries, while maintaining an investment-grade rating and minimizing investments with returns below AB InBev’s weighted average cost of capital. Besides the statutory minimum equity funding requirements that apply to the company’s subsidiaries in the different countries, AB InBev is not subject to any externally imposed capital requirements. Management uses the same debt/equity classifications as applied in the company’s IFRS reporting to analyze the capital structure. FAIR VALUE The following table summarizes for each type of derivative the fair values recognized as assets or liabilities in the balance sheet: Assets Liabilities Net Million US dollar 31 December 31 December 31 December 31 December 31 December 31 December Foreign currency Forward exchange contracts 480 112 (691 ) (590 ) (211 ) (478 ) Foreign currency futures 36 7 (5 ) (9 ) 31 (2 ) Interest rate Interest rate swaps 80 18 — (6 ) 80 12 Cross currency interest rate swaps 107 157 (709 ) (175 ) (602 ) (18 ) Other interest rate derivatives — — — (97 ) — (97 ) Commodities Aluminum swaps 170 15 (10 ) (61 ) 160 (46 ) Sugar futures 10 2 — (2 ) 10 — Wheat futures — 14 (1 ) (9 ) (1 ) 5 Energy 9 8 (7 ) (11 ) 2 (3 ) Other commodity derivatives 46 13 (8 ) (14 ) 38 (1 ) Equity Equity derivatives 27 17 (5 373 ) (3 177 ) (5 346 ) (3 160 ) 965 362 (6 804 ) (4 151 ) (5 839 ) (3 789 ) Of which: Non-current 138 132 (1 759 ) (352 ) (1 621 ) (220 ) Current 827 230 (5 046 ) (3 799 ) (4 218 ) (3 569 ) The following table summarizes the carrying amount and the fair value of the fixed rate interest-bearing financial liabilities as recognized on the balance sheet. Floating rate interest-bearing financial liabilities, trade and other receivables and trade and other payables, including derivatives financial instruments, have been excluded from the analysis as their carrying amount is a reasonable approximation of their fair value: Interest-bearing financial liabilities 31 December 2020 31 December 2019 Million US dollar Carrying amount 1 Fair value Carrying amount 1 Fair value Fixed rate Australian dollar (846 ) (964 ) (1 647 ) (1 748 ) Brazilian real (578 ) (578 ) (544 ) (542 ) Canadian dollar (613 ) (633 ) (2 055 ) (2 046 ) Euro (26 093 ) (29 809 ) (25 346 ) (30 365 ) Pound sterling (3 655 ) (4 301 ) (4 373 ) (4 816 ) US dollar (62 340 ) (81 771 ) (62 205 ) (74 035 ) Other (479 ) (480 ) (431 ) (431 ) (94 604 ) (118 536 ) (96 601 ) (113 983 ) 1 “Carrying amount” refers to net book value as recognized in the balance sheet at each reporting date. The table sets out the fair value hierarchy based on the degree to which significant market inputs are observable: Fair value hierarchy 31 December 2020 Million US dollar Quoted (unadjusted) Observable market Unobservable market Financial Assets Held for trading (non-derivatives) — 11 — Derivatives at fair value through profit and loss — 457 — Derivatives in a cash flow hedge relationship 29 343 — Derivatives in a fair value hedge relationship — 80 — Derivatives in a net investment hedge relationship — 57 — 29 948 — Financial Liabilities Deferred consideration on acquisitions at fair value — — 1 251 Derivatives at fair value through profit and loss — 6 119 — Derivatives in a cash flow hedge relationship 46 353 — Derivatives in a net investment hedge relationship — 287 — 46 6 759 1 251 Fair value hierarchy 31 December 2019 Million US dollar Quoted (unadjusted) Observable market Unobservable market Financial Assets Held for trading (non-derivatives) 2 9 — Derivatives at fair value through profit and loss — 119 — Derivatives in a cash flow hedge relationship 17 153 — Derivatives in a fair value hedge relationship — 19 — Derivatives in a net investment hedge relationship — 54 — 19 354 — Financial Liabilities Deferred consideration on acquisitions at fair value — — 1 639 Derivatives at fair value through profit and loss — 3 441 — Derivatives in a cash flow hedge relationship 21 586 — Derivatives in a fair value hedge relationship — 103 — 21 4 130 1 639 Non-derivative As part of the 2012 shareholders agreement between Ambev and ELJ, following the acquisition of Cervecería Nacional Dominicana S.A. (“CND”), a forward-purchase contract (combination of a put option and purchased call option) was put in place which may result in Ambev acquiring additional shares in CND. In July 2020, Ambev and ELJ amended the Shareholders’ Agreement to extend their partnership and change the terms and the exercise date of the call and put options. ELJ currently holds 15% of CND and the put option is exercisable in 2022, 2023, 2024 and 2026. As at 31 December 2020, the put option on the remaining shares held by ELJ was valued at 671m US dollar (31 December 2019: 732m US dollar) and recognized as a deferred consideration on acquisitions at fair value in the “level 3” category above. HEDGING RESERVES The company’s hedging reserves disclosed in Note 23 relate to the following instruments: Million US dollar Foreign Commodities Others Total As per 1 January 2020 174 117 107 397 Change in fair value of hedging instrument recognized in OCI 353 31 — 384 Reclassified to profit or loss / cost of inventory (507 ) 126 (23 ) (404 ) As per 31 December 2020 20 274 84 376 Million US dollar Foreign Commodities Others Total As per 1 January 2019 480 (60 ) 76 494 Change in fair value of hedging instrument recognized in OCI 92 16 — 107 Reclassified to profit or loss / cost of inventory (398 ) 162 32 (204 ) As per 31 |
Operating leases
Operating leases | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Operating leases | 30. Operating leases The company leases out pub real estate for an average outstanding period of 6 to 8 years and part of its own property under operating leases. The following table sets out the maturity analysis of the non-cancelable Million US dollar 31 December 2020 31 December 2019 31 December 2018 Within one year 157 155 152 Between one and five years 405 518 460 After five years 361 215 217 Total 923 888 829 In 2020, 107m US dollar was recognized as income in the income statement in respect of subleasing of right-of-use |
Collateral and contractual comm
Collateral and contractual commitments for the acquisition of property, plant and equipment, loans to customers and other | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Collateral and contractual commitments for the acquisition of property, plant and equipment, loans to customers and other | 31. Collateral and contractual commitments for the acquisition of property, plant and equipment, loans to customers and other Million US dollar 31 December 2020 31 December 2019 Collateral given for own liabilities 391 372 Contractual commitments to purchase property, plant and equipment 528 457 Contractual commitments to acquire loans to customers 150 151 Other commitments 1 953 1 911 The collateral given for own liabilities of 391m US dollar as at 31 December 2020 contains 184m US dollar cash guarantees (31 December 2019: 372m US dollar collateral given for own liabilities contained 219m US dollar of cash guarantees). Such cash deposits are a customary feature associated with litigations in Brazil: in accordance with Brazilian laws and regulations a company may or must (depending on the circumstances) place a deposit with a bank designated by the court or provide other security such as collateral on property, plant and equipment. With regard to judicial cases, AB InBev has made the appropriate provisions in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets Provisions Trade and other receivables The remaining part of collateral given for own liabilities of 207m US dollar as at 31 December 2020 (31 December 2019: 153m US dollar) contains collateral on AB InBev’s property in favor of the excise tax authorities, the amount of which is determined by the level of the monthly excise taxes due, inventory levels and transportation risk, and collateral on its property, plant and equipment with regard to outstanding loans. To the extent that AB InBev would not respect its obligations under the related outstanding contracts or would lose the pending judicial cases, the collateralized assets would be used to settle AB InBev’s obligations. AB InBev has entered into commitments to purchase property, plant and equipment for 528m US dollar at 31 December 2020 (31 December 2019: 457m US dollar). 1 Net amount recognized in the statement of financial position after taking into account offsetting agreements that meet the offsetting criteria as per IFRS rules. 2 Other offsetting agreements include collateral and other guarantee instruments, as well as offsetting agreements that do not meet the offsetting criteria as per IFRS rules. In a limited number of countries AB InBev has committed itself to acquire loans to customers from banks at their notional amount if the customers do not respect their reimbursement commitments towards the banks. The total outstanding amount of such loans is 150m US dollar at 31 December 2020 (31 December 2019: 151m US dollar). Other commitments amount to 1 953m US dollar at 31 December 2020 and mainly cover guarantees given to pension funds, rental and other guarantees (31 December 2019: 1 911m US dollar). In order to fulfil AB InBev’s commitments under various outstanding stock option plans, AB InBev entered into stock lending arrangements for up to 30 million of its own ordinary shares. AB InBev shall pay any dividend equivalent, after tax in respect of the loaned securities. This payment will be reported through equity as dividend. As of 31 December 2020, 30 million loaned securities were used to fulfil stock option plan commitments. As at 31 December 2020, the M&A related commitments existed as discussed below. Cervecería Nacional Dominicana S.A. (“CND”) As part of the 2012 shareholders agreement between Ambev and E. León Jimenes S.A. (“ELJ”), following the acquisition of Cervecería Nacional Dominicana S.A. (“CND”), a put and call option is in place which may result in Ambev acquiring additional shares in CND. In January 2018 Ambev increased its participation in CND from 55% to 85%. As of 31 December 2020, the put option for the remaining shares held by ELJ was valued 0.7 billion US dollar (31 December 2019: 0.7 billion US dollar). The corresponding liability is presented as a non-current Risks arising from financial instruments Zenzele Schemes in South Africa Following the combination with SAB in 2016, AB InBev decided to maintain the SAB Zenzele share-scheme (Zenzele Scheme), the broad-based black economic empowerment (B-BBEE) 10-year Obligations to the SAB Foundation and the employees as beneficiaries of The SAB Zenzele Employee Share Trust were settled in full on 15 April 2020. The obligations to SAB retailers, who participate in the Zenzele Scheme through SAB Zenzele Holdings, were partially settled (77.4%) on 15 April 2020. As a direct consequence of the COVID-19 In total, 10.8 million AB InBev Treasury shares 1 As part of the combination with SAB in 2016, AB InBev made a commitment to the South African Government and Competition Authorities to create a new B-BBEE B-BBEE • The new scheme will be implemented through the listing of a special purpose company, which will be called SAB Zenzele Kabili Holdings Limited (Zenzele Kabili) on the segment of the Johannesburg Stock Exchange’s Main Board on which an issuer may list its B-BBEE • Zenzele Kabili will hold unencumbered AB InBev shares; • Existing Zenzele participants (SAB retailers and The SAB Foundation) will be given an option to reinvest a portion of their Zenzele payout into Zenzele Kabili; • A new Employee Share Plan, funded by AB InBev, will subscribe for shares in Zenzele Kabili. The settlement of the balance of the SAB Retailers entitlement and the new B-BBEE 2 3 B-BBEE 1 Out of which, 1.3 million shares were delivered to SAB Foundation, which is consolidated by AB InBev. 2 Converted at the closing rate as at 31 December 2020. 3 Assuming the closing share price of 57.01 euro per share as at 31 December 2020 and ZAR per Euro exchange rate of 18.021914 as at 31 December 2020. |
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Contingencies | 32. Contingencies 1 The company has contingencies for which, in the opinion of management and its legal counsel, the risk of loss is possible but not probable and therefore no provisions have been recorded. Due to their nature, such legal proceedings and tax matters involve inherent uncertainties including, but not limited to, court rulings, negotiations between affected parties and governmental actions, and as a consequence AB InBev’s management cannot at this stage estimate the likely timing of resolution of these matters. The most significant contingencies are discussed below. AMBEV TAX MATTERS As of 31 December 2020, AB InBev’s material tax proceedings are related to Ambev and its subsidiaries. Estimates of amounts of possible loss are as follows: Million US dollar 31 December 2020 31 December 2019 Income tax and social contribution 10 372 10 781 Value-added and excise taxes 4 483 5 514 Other taxes 727 1 018 15 582 17 313 The most significant tax proceedings of Ambev are discussed below. INCOME TAX AND SOCIAL CONTRIBUTION Foreign Earnings Since 2005, Ambev and certain of its subsidiaries have been receiving assessments from the Brazilian Federal Tax Authorities relating to the profits of its foreign subsidiaries. The cases are being challenged at both the administrative and judicial levels of the courts in Brazil. The administrative proceedings have resulted in partially favorable decisions, which are still subject to review by the Administrative Court. In the judicial proceedings, Ambev has received favorable injunctions that suspend the enforceability of the tax credit, as well as favorable first level decisions, which remain subject to review by the second-level judicial court. The amount related to this uncertain tax position as of 31 December 2020 is approximately 7.3 billion Brazilian real (1.4 billion US dollar) and Ambev has not recorded any provisions in connection therewith as it considers the chance of loss to be possible. For proceedings where it considers the chance of loss to be probable, Ambev has recorded a provision in the total amount of 53 million Brazilian real (10 million US dollar). Goodwill InBev Holding In December 2011, Ambev received a tax assessment related to the goodwill amortization resulting from the InBev Holding Brasil S.A. merger with Ambev. At the administrative level, Ambev received partially favorable decisions at both the Lower and Upper Administrative Court. Ambev filed judicial proceedings to discuss the unfavorable portion of the decisions of the Lower and the Upper Administrative Court and requested injunctions to suspend the enforceability of the remaining tax credit, which were granted. In June 2016, Ambev received a new tax assessment charging the remaining value of the goodwill amortization and filed a defense. Ambev received partially favorable decisions at the first level administrative court and Lower Administrative Court. Ambev filed a Special Appeal which was partially admitted and awaits judgment by the Upper Administrative Court. For the unfavorable portion of the decision which became final at the administrative level, Ambev filed a judicial proceeding requesting an injunction to suspend the enforceability of the remaining tax credit, which was granted. The amount related to this uncertain tax position as of 31 December 2020 is approximately 10.2 billion Brazilian real (2.0 billion US dollar). Ambev has not recorded any provisions for this matter. In the event Ambev is required to pay these amounts, AB InBev will reimburse the amount proportional to the benefit received by AB InBev pursuant to the merger protocol as well as the related costs. Goodwill Beverage Associate Holding (BAH) In October 2013, Ambev received a tax assessment related to the goodwill amortization resulting from the merger of Beverage Associates Holding Limited (“BAH”) into Ambev. The decision from the first level administrative court was unfavorable to Ambev. Ambev filed an appeal to the Lower Administrative Court against the decision, which was partially granted. Ambev and the tax authorities filed Special Appeals to the Upper Administrative Court, which are awaiting judgment. In April and August 2018, Ambev received new tax assessments charging the remaining value of the goodwill amortization and filed defenses. In April 2019, the first level administrative court rendered unfavorable decisions to Ambev. As a result thereof, Ambev appealed to the Lower Administrative Court. In November and December 2019, Ambev received partially favorable decisions at the Lower Administrative Court and filed Special Appeals to the Upper Administrative Court. The Special Appeal filed in one of the tax assessments is awaiting judgment by the Upper Administrative Court, whereas the other Special Appeal is awaiting admission. The amount related to this uncertain tax position as of 31 December 2020 is approximately 2.3 billion Brazilian real (0.4 billion US dollar). Ambev has not recorded any provisions for this matter as it considers the chance of loss to be possible. Goodwill CND Holdings In November 2017, Ambev received a tax assessment related to the goodwill amortization resulting from the merger of CND Holdings into Ambev. The decision from the first level administrative court was unfavorable to Ambev. Ambev filed an appeal to the Lower Administrative Court. In February 2020, the Lower Administrative Court rendered a partially favorable decision. Ambev and the tax authorities filed Special Appeals to the Upper Administrative Court, which are awaiting admission and judgment. 1 Amounts have been converted to US dollar at the closing rate of the respective period. The amount related to this uncertain tax position as of 31 December 2020 is approximately 1.0 billion Brazilian real (0.2 billion US dollar). Ambev has not recorded any provisions for this matter. Disallowance of financial expenses In 2015, 2016 and 2020, Ambev received tax assessments related to the disallowance of alleged non-deductible The amount related to this uncertain tax position as of 31 December 2020 is approximately 5.0 billion Brazilian real (1.0 billion US dollar). Ambev has not recorded any provisions for this matter as it considers the chance of loss to be possible. Disallowance of tax paid abroad Since 2014, Ambev has been receiving tax assessments from the Brazilian Federal Tax Authorities related to the disallowance of deductions associated with alleged unproven taxes paid abroad by its subsidiaries and has been filing defenses. The cases are being challenged at both the administrative and judicial levels. In November 2019, the Lower Administrative Court rendered a favorable decision to Ambev in one of the cases (related to the 2010 tax period), which became definitive. In January 2020, the Lower Administrative Court rendered unfavorable decisions regarding four of these assessments related to the periods of 2015 and 2016. Regarding the 2015 assessments, Ambev filed Special Appeals to the Upper Administrative Court which are pending decisions. Regarding the 2016 assessments, Ambev was notified of the decisions and filed motions for clarification which are pending decisions. With respect to the cases related to the periods of 2015 and 2016, tax assessments were filed to charge isolated fines due to the lack of monthly prepayments of income tax as a result of allegedly undue deductions of taxes paid abroad. Ambev filed defenses and awaits judgment by the first level administrative court. The other cases are still awaiting final decisions at both administrative and judicial courts. The amount related to this uncertain tax position as of 31 December 2020 is approximately 11.7 billion Brazilian real (2.3 billion US dollar). Ambev has not recorded any provisions for this matter as it considers the chance of loss to be possible. Presumed Profit In April 2016, Arosuco (a subsidiary of Ambev) received a tax assessment regarding the use of the “presumed profit” method for the calculation of income tax and the social contribution on net profits instead of the “real profit” method. In September 2017, Arosuco received an unfavorable first level administrative decision and filed an appeal. In January 2019, the Lower Administrative Court rendered a favorable decision to Arosuco, which became definitive. In March 2019, Ambev received a new tax assessment regarding the same subject and filed a defense. In October 2019, Arosuco received an unfavorable first level administrative decision and filed an appeal. The amount related to this uncertain tax position as of 31 December 2020 is approximately 0.5 billion Brazilian real (0.1 billion US dollar). Arosuco has not recorded any provisions for this matter as it considers the chance of loss to be possible. Deductibility of IOC expenses In November 2019, Ambev received a tax assessment from the Brazilian Federal Tax Authorities related to the interest on capital (“IOC”) deduction in 2014. The assessment refers primarily to the accounting and corporate effects of the restructuring carried out by Ambev in 2013 and the impact on the increase in the deductibility of IOC expenses. In August 2020, Ambev received a partially favorable decision at the first level administrative Court and filed an Appeal to the Lower Administrative Court. In December 2020, Ambev received a new tax assessment related to the deduction of the IOC in 2015 and 2016. The defense against such assessment was filed by Ambev in January 2021. Ambev also distributed IOC in the years following the assessed period, i.e. after 2016. In a scenario where the IOC deductibility would also be questioned for the period after 2016, on the same basis as the aforementioned tax assessments, Ambev management estimates that the outcome of such potential further assessments would be similar to the abovementioned case. Accordingly, the effects of the deductibility of IOC expenses on Ambev’s effective income tax rate for this period would be maintained. The amount related to this uncertain tax position as of 31 December 2020 is approximately 10.2 billion Brazilian real (2.0 billion US dollar). Ambev has not recorded any provisions for this matter as it considers the chance of loss to be possible. Disallowance on Income Tax deduction In January 2020, Arosuco, a subsidiary of Ambev, received a tax assessment from the Brazilian Federal Tax Authorities regarding the disallowance of the income tax reduction benefit provided for in Provisional Measure No. 2199-14/2001 ICMS VALUE ADDED TAX, EXCISE TAX (“IPI”) AND TAXES ON NET SALES Manaus Free Trade Zone – IPI / Social contributions In Brazil, goods manufactured within the Manaus Free Trade Zone intended for remittance elsewhere in Brazil are exempt and/ or zero-rated Ambev has also been receiving charges from the Brazilian Federal Tax Authorities in relation to (i) federal taxes allegedly unduly offset with the disallowed presumed IPI excise tax credits that are under discussion in these proceedings and (ii) PIS/COFINS amounts allegedly due on Arosuco’s remittance to Ambev subsidiaries. In April 2019, the Federal Supreme Court (“STF”) announced its judgment on Extraordinary Appeal No. 592.891/SP and 596.614/SP, with binding effects, deciding on the rights of taxpayers registering IPI excise tax presumed credits on acquisitions of raw materials and exempted inputs originating from the Manaus Free Trade Zone. As a result of this decision, Ambev reclassified part of the amounts related to the IPI cases as remote losses maintaining as possible losses only issues related to other additional discussions that were not included in the analysis of the STF. The cases are being challenged at both the administrative and judicial levels. Ambev management estimates the possible loss related to these assessments to be approximately 4.8 billion Brazilian real (0.9 billion US dollar) as of 31 December 2020. Ambev has not recorded any provision in connection therewith. IPI Suspension In 2014 and 2015, Ambev received tax assessments from the Brazilian Federal Tax Authorities relating to IPI allegedly due over remittances of manufactured goods to other related factories. The cases are being challenged at both the administrative and judicial levels. In 2020, Ambev received a final partial favorable decision at the administrative level in one of the cases. At the judicial level, the case is still in the initial stage. Ambev management estimates the possible loss related to these assessments to be approximately 1.6 billion Brazilian real (0.3 billion US dollar) as of 31 December 2020. Ambev has not recorded any provision in connection therewith. ICMS tax credits Ambev is currently challenging tax assessments issued by the states of São Paulo, Rio de Janeiro, Minas Gerais, among others, questioning the legality of ICMS tax credits arising from transactions with companies that have tax incentives granted by other states. The cases are being challenged at both the administrative and judicial level of the courts. On August 2020, the STF issued a binding decision (Extraordinary Appeal No. 628.075) ruling that tax credits granted by the states in the context of the ICMS tax war shall be consider unlawful. The decision also recognized that the states should abide by the tax incentives validation process provided for in Complementary Law No. 160/17. This decision is subject to appeal and does not change the likelihood of loss in Ambev´s tax assessments. Ambev management estimates the possible losses related to these assessments to be approximately 2.0 billion Brazilian real (0.4 billion US dollar) as of 31 December 2020. Ambev has not recorded any provision in connection therewith. ICMS-ST Over the years, Ambev has received tax assessments to charge supposed ICMS differences considered due when the price of the products sold by Ambev is above the fixed price table basis established by the relevant states, cases in which the state tax authorities understand that the calculation basis should be based on a value-added percentage over the actual prices and not the fixed table price. Ambev is currently challenging those charges before the courts. The cases are being challenged at both the administrative and judicial levels. Ambev management estimates the total possible loss related to this issue to be approximately 8.6 billion Brazilian real (1.7 billion US dollar) as of 31 December 2020. Ambev has recorded provisions in the total amount of 7 million Brazilian real (1 million US dollar) in relation to certain proceedings for which it considers the chances of loss to be probable due to specific procedural issues. SOCIAL CONTRIBUTIONS Since 2015, Ambev has received tax assessments issued by the Brazilian Federal Tax Authorities relating to PIS/COFINS amounts allegedly due over bonus products granted to its customers. The cases are being challenged at both the administrative and judicial levels of the courts. In 2019 and 2020, Ambev received final favorable decisions at the administrative level in some of these cases and favorable decisions in other cases that are still subject to review. At the judicial level, the case is still in the initial stage. Ambev management estimates the possible loss related to these assessments to be approximately 1.7 billion Brazilian real (0.3 billion US dollar) as of 31 December 2020. No related provision has been made. AB INBEV’S AUSTRALIAN BUSINESS TAX MATTERS SAB Australia Pty Limited (“SAB Australia”), a former subsidiary of AB InBev, received a tax assessment for the 2012 to 2014 income tax years for 0.4 billion Australian dollar (0.3 billion US dollar) pre-transaction The Australian tax authorities have also notified SAB Australia that it has commenced an audit of the 2015 to 2020 income tax years. The focus of the audit is the tax treatment of the ongoing funding arrangements associated with the Foster’s acquisition. OTHER TAX MATTERS In February 2015, the European Commission opened an in-depth On 3 December 2020, the Advocate General (AG) of the European Court of Justice presented her non-binding In addition, the Belgian tax authorities have also questioned the validity and the actual application of the excess profit ruling that was issued in favor of AB InBev and have refused the actual tax exemption which it confers. AB InBev has filed a court claim against such decision before the Brussels court of first instance which ruled in favor of AB InBev on 21 June 2019. The Belgian tax authorities appealed this judgment. In January 2019, AB InBev deposited 68m euro (83m US dollar) on a blocked account. Depending on the final outcome of the European Court procedures on the Belgian excess profit ruling system, as well as the pending Belgian court case, this amount will either be slightly modified, or released back to the company or paid over to the Belgian State. In connection with the European Court procedures, AB InBev recognized a provision of 68m euro (83m US dollar) as of 31 December 2020. WARRANTS Certain holders of warrants issued by Ambev in 1996 for exercise in 2003 proposed lawsuits to subscribe correspondent shares for an amount lower than Ambev considers as established upon the warrant issuance. In case Ambev loses the totality of these lawsuits, the issuance of 172,831,574 shares would be necessary. Ambev would receive in consideration funds that are materially lower than the current market value. This could result in a dilution of about 1% to all Ambev shareholders. Furthermore, the holders of these warrants are claiming that they should receive the dividends relative to these shares since 2003, approximately 1.0 billion Brazilian real (0.2 billion US dollar) in addition to legal fees. Ambev disputes these claims and intends to continue to vigorously defend its case. All six lawsuits were ruled favorably to Ambev by the Superior Court of Justice (“STJ”). Three cases were dismissed by the STJ’s Special Court and remain subject to ongoing appeals. One case was ruled favorably to Ambev by the STJ´s Special Court and the judgment became final. Another case was remitted to the STJ´s lower court for a new judgment. The sixth case was ruled favorably to Ambev and may be subject to a new appeal to the Brazilian Supreme Court (STF). Considering all of these facts, Ambev and its external counsels strongly believe that the chance of loss in these cases is remote. UNITED STATES CLASS ACTION SUIT On 21 June 2019, a proposed class action was filed in the United States District Court for the Southern District of New York against AB InBev and three of its officers. The complaint alleged claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 |
Non-controlling interests
Non-controlling interests | 12 Months Ended |
Dec. 31, 2020 | |
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Non-controlling interests | 33. Non-controlling As at 31 December 2020 and 2019, material non-controlling Summarized financial information of Ambev and Budweiser APAC, in which the company has material non-controlling Ambev Budweiser APAC Million US dollar 31 December 31 December 31 December 31 December Summarized balance sheet information Current assets 6 801 6 853 2 332 2 108 Non-current 17 291 18 389 13 857 13 200 Current liabilities 6 442 6 205 4 637 4 493 Non-current 3 188 3 517 809 931 Equity attributable to equity holders 14 204 15 203 10 685 9 836 Non-controlling 257 317 58 48 Ambev Budweiser APAC Million US dollar 2020 2019 1 2018 2020 2019 2 2018 3 Summarized income statement and other comprehensive income information Revenue 11 373 13 196 13 819 5 588 6 546 6 740 Net income 2 286 3 093 3 122 537 908 959 Attributable to: Equity holders 2 217 2 989 3 025 514 898 958 Non-controlling 69 104 97 23 10 1 Net income 2 286 3 093 3 122 537 908 959 Other comprehensive income 1 467 (193 ) 629 635 (229 ) (500 ) Total comprehensive income 3 753 2 900 3 751 1 172 679 459 Attributable to: Equity holders 3 647 2 801 3 620 1 147 665 458 Non-controlling 106 99 130 25 14 1 Summarized cash flow information Cash flow from operating activities 3 673 4 664 5 089 1 306 1 379 1 684 Cash flow from investing activities (1 325 ) (1 228 ) (1 011 ) (628 ) (743 ) (472 ) Cash flow from financing activities (1 676 ) (3 117 ) (3 799 ) (383 ) (1 349 ) (1 237 ) Net increase/(decrease) in cash and cash equivalents 673 319 279 295 (713 ) (25 ) On 31 December 2020, the company completed the issuance of a 49.9% minority stake in its US-based US-based Dividends paid by Ambev to non-controlling non-controlling Other non-controlling non-controlling 1 In 2020, Ambev concluded the calculation of its tax credits on a judicial decision related to the exclusion of the Value-Added Tax (ICMS) from the taxable basis of the social contribution on gross revenues (PIS and COFINS). As a result of this judicial decision and other tax credit adjustments, in 2020, Ambev reclassified the tax credits previously reported in revenue to other operating income, and as such, restated its 2019 comparatives as required by IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors 2 In 2020, Budweiser APAC reclassified the “Proceeds from cash pooling loans from AB InBev” from investing to financing activities in the summarized cash flow information. The presentation of the comparative amount has been restated to conform to the current year presentation. 3 The combined financial information for 2018 presents the historical financial information of the business of the Asia Pacific region of AB InBev, excluding Australia, and includes the assets, liabilities, revenue, expenses and cash flows attributable to all entities in the region, which are primarily in China, South Korea, India, Vietnam and Japan. |
Related parties
Related parties | 12 Months Ended |
Dec. 31, 2020 | |
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Related parties | 34. Related parties TRANSACTIONS WITH DIRECTORS AND EXECUTIVE COMMITTEE MEMBERS (KEY MANAGEMENT PERSONNEL) In addition to short-term employee benefits (primarily salaries) AB InBev’s Executive Committee members were entitled in 2020 to post-employment benefits. In particular, members of the Executive Committee participated in the pension plan of their respective country – see also Note 25 Employee Benefits Share-based Payments 2020 2019 2018 Million US dollar Directors Executive Directors Executive Directors Executive Short-term employee benefits 2 4 2 9 2 6 Termination benefits — 2 — 1 — — Share-based payment — 7 — 25 — 34 2 13 2 35 2 40 Directors’ compensation consists mainly of directors’ fees. During 2020, AB InBev entered into the following transactions: • The acquisition, through Grupo Modelo and its subsidiaries, of information technology and infrastructure services for a consideration of approximately 1m US dollar from a company in which one of the company’s Board Member had significant influence as of 31 December 2020 (2019: 2m US dollar; 2018: 1m US dollar). • The acquisition, mainly through its subsidiary Bavaria S.A., of transportation services, lease agreements and advertising services for an aggregated consideration of 13m US dollar from companies in which one of the company’s Board Member had a significant influence as of 31 December 2020 (2019: 11m US dollar; 2018: 8m US dollar). The outstanding balance of these transactions as of 31 December 2020 amounts to 3m US dollar (31 December 2019: 1m US dollar). JOINTLY CONTROLLED ENTITIES Significant interests in joint ventures include three entities in Brazil, one in Mexico and two in Canada. None of these joint ventures are material to the company. Aggregate amounts of AB InBev’s interest are as follows: Million US dollar 2020 2019 2018 Non-current 8 10 11 Current assets 2 3 5 Non-current 9 11 9 Current liabilities 12 10 12 Result from operations 3 3 4 Profit attributable to equity holders of AB InBev 3 3 3 TRANSACTIONS WITH ASSOCIATES Significant interests in associates are shown in note 16 Investments in associates Million US dollar 2020 2019 2018 Gross profit (118 ) (78 ) (39 ) Current assets 55 38 84 Current liabilities 115 119 130 TRANSACTIONS WITH PENSION PLANS AB InBev’s transactions with pension plans mainly comprise 12m US dollar other income from pension plans in the US in 2020 (2019: 12m US dollar; 2018: 12m US dollar). |
Events after the balance sheet
Events after the balance sheet date | 12 Months Ended |
Dec. 31, 2020 | |
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Events after the balance sheet date | 35. Events after the balance sheet date On 11 January 2021, Anheuser-Busch InBev NV/SA (ABISA) announced that it and its wholly-owned subsidiary Anheuser-Busch InBev Worldwide Inc. (“ABIWW”, and together with ABISA, the “Issuers”) exercised their respective options to redeem the outstanding principal amounts for an aggregate principal amount of 3.1 billion US dollar of the following series of notes: Date of redemption Issuer (abbreviated) Title of series of notes issued Currency Original principal Principal amount 28 January 2021 ABISA 1.500% Notes due 2025 EUR 2 147 2 147 27 January 2021 ABIWW 3.750% Notes due 2024 AUD 650 650 On 18 February 2021, AB InBev announced the successful signing of a new 10.1 billion USD Sustainable-Linked Loan Revolving Credit Facility (“SLL RCF”), replacing its existing 9.0 billion USD Revolving Credit Facility. The facility has an initial five-year term and incorporates a pricing mechanism that incentivizes improvement in key performance areas that are aligned with and contribute to the company’s 2025 Sustainability Goals. |
AB InBev companies
AB InBev companies | 12 Months Ended |
Dec. 31, 2020 | |
Investments accounted for using equity method [abstract] | |
AB InBev companies | 36. AB InBev companies Listed below are the most important AB InBev companies. A complete list of the company’s investments is available at AB InBev NV, Brouwerijplein 1, B-3000 LIST OF MOST IMPORTANT FULLY CONSOLIDATED COMPANIES Name and registered office of fully consolidated companies % of economic interest as at 31 December 2020 ARGENTINA CERVECERIA Y MALTERIA QUILMES SAICA y G - Charcas 5160 - C1425BOF - Buenos Aires 61.67 % BELGIUM AB INBEV N.V. – Grand Place 1 - 1000 – Brussel Consolidating BRASSERIE DE L’ABBAYE DE LEFFE S.A. - Place de l’Abbaye 1 - 5500 – Dinant 98.54 % BROUWERIJ VAN HOEGAARDEN N.V. - Stoopkensstraat 46 - 3320 – Hoegaarden 100.00 % COBREW N.V. - Brouwerijplein 1 - 3000 – Leuven 100.00 % INBEV BELGIUM BV/SRL - Industrielaan 21 - 1070 – Brussel 100.00 % BOTSWANA KGALAGADI BREWERIES (Pty) Ltd - Plot 20768, Broadhurst industrial estate - Gaborone¹ 31.00 % BOLIVIA CERVECERIA BOLIVIANA NACIONAL S.A. - Av. Montes 400 and Chuquisaca No. 121, Zona Challapampa - La Paz 52.76 % BRAZIL AMBEV S.A. - Rua Dr Renato Paes de Barros, 1017, 3° andar, Itaim Bibi - CEP 04530-001 61.83 % CANADA LABATT BREWING COMPANY LIMITED - 207 Queen’s Quay West, Suite 299 - M5J 1A7 – Toronto 61.83 % CHILE CERVECERIA CHILE S.A. - Av. Presidente Eduardo Frei Montalva 9600 - 8700000 – Quilicura 61.83 % CHINA ANHEUSER-BUSCH INBEV (CHINA) SALES CO LTD. - Shangshou, Qin Duan Kou, Hanyang Area - 430051 - Wuhan City, Hubei Province 87.22 % ANHEUSER-BUSCH INBEV (WUHAN) BREWERY CO. LTD. - Shangshou, Qin Duan Kou, Hanyang Area - 430051 - Wuhan City, Hubei Province 84.66 % ANHEUSER-BUSCH INBEV (FOSHAN) BREWERY CO. LTD. - 1 Budweiser Avenue, Southwest St., Sanshui District - 528132 - Foshan City, Guangdong 87.22 % ANHEUSER-BUSCH INBEV HARBIN BREWERY CO. LTD. - 9 HaPi Road Pingfang District - 150066 - Harbin City, Heilongijang Province 87.22 % ANHEUSER-BUSCH INBEV (TANGSHAN) BREWERY CO. LTD. - 18, Yingbin Road - 063300 - Tangshan City, Hebei Province 87.22 % ANHEUSER-BUSCH INBEV SEDRIN BREWERY CO. LTD. - 660 Gong Ye Road, Hanjiang District - 351111 - Putian City, Fujian Province 87.22 % ANHEUSER-BUSCH INBEV SEDRIN (ZHANGZHOU) BREWERY CO. LTD. - Lantian Economic District - 363005 - Zhangzhou City, Fujian Province 87.22 % ANHEUSER-BUSCH INBEV (TAIZHOU) BREWERY CO. LTD. - 159 Qi Xia East Road, Chengguan Town, Tiantai County - 317200 - Taizhou Cithy, Zhejiang Province 87.22 % ANHEUSER-BUSCH INBEV SEDRIN (NANCHANG) BREWERY CO. LTD - 1188 Jinsha Avenue, Economic District - Nanchang City, Jiangxi Province 87.22 % SIPING GINSBER DRAFT BEER CO. LTD. - Xianmaquan, Tiedong Area - Siping City, Jilin Province 87.22 % 1 The group’s shares entitle the holder to twice the voting rights. Name and registered office of fully consolidated companies % of economic ANHEUSER-BUSCH INBEV (NANTONG) BREWERY CO. LTD. – 666 Zhaoxia Road – Nantong City, Jiangsu Province 87.22 % ANHEUSER-BUSCH INBEV (SICHUAN) BREWERY CO. LTD. – No. 1, AB InBev Avenue, Cheng Nan Industry Park, Economic Development Area – 641300 – Ziyang City, Sichuan Province 87.22 % ANHEUSER-BUSCH INBEV (HENAN) BREWERY CO. LTD. – No. 1 Budweiser Avenue, Industry Park, Tangzhuang Town – 453100 – Weihui City, Henan Province 87.22 % INBEV JINLONGQUAN (HUBEI) BREWERY CO. LTD. – 89 Jin Long Quan Avenue – Jingmen City, Hubei Province 52.33 % ANHEUSER-BUSCH INBEV (SUQIAN) BREWERY CO. LTD. – No 1 Qujiang Road, Suyu Industry Park – Suqian City, Jiangsu Province 87.22 % COLOMBIA ZX VENTURES COLOMBIA S.A.S. – Carrera 53 A, No 127 – 35 – 110221 – Bogota 100.00 % BAVARIA & CIA S.C.A. – Carrera 53 A, No 127 – 35 – 110221 – Bogota 99.14 % KOPPS COMERCIAL S.A.S – Carrera 53 A, No 127 – 35 – 110221 – Bogota 100.00 % CZECH REPUBLIC PIVOVAR SAMSON A.S. – V parku 2326/18, Chodov, 148 00 Praha 4 100.00 % DOMINICAN REPUBLIC CERVECERIA NACIONAL DOMINICANA S.A. – Autopista 30 de Mayo Km 61/2, Distrito Nacional – A.P. 1086 – Santo Domingo 1 52.55 % ECUADOR CERVECERÍA NACIONAL (CN) SA – Via a daule km 16,5 y calle cobre s/n – Guayaquil, Guayas 95.58 % EL SALVADOR INDUSTRIAS LA CONSTANCIA, SA DE CV – 526 Av. Independencia, San Salvador 100.00 % FRANCE AB INBEV FRANCE S.A.S. – Immeuble Crystal, 38, Place Vauban – C.P. 59110 – La Madeleine 100.00 % GERMANY BRAUEREI BECK GmbH & CO. KG – Am Deich 18/19 – 28199 – Bremen 100.00 % BRAUEREI DIEBELS GmbH & CO.KG – Brauerei-Diebels-Strasse 1 – 47661 – Issum 100.00 % HAAKE-BECK AG – Am Deich 18/19 – 28199 – Bremen 99.96 % HASSERÖDER BRAUEREI GmbH – Auerhahnring 1 – 38855 – Wernigerode 100.00 % ANHEUSER-BUSCH INBEV GERMANY HOLDING GmbH – Am Deich 18/19 – 28199 – Bremen 100.00 % SPATEN – FRANZISKANER – BRÄU GmbH – Marsstrasse 46 + 48 – 80335 – München 100.00 % ANHEUSER-BUSCH INBEV Deutschland GmbH & Co KG – Am Deich 18/19 – 28199 – Bremen 100.00 % LOEWENBRAEU AG – Nymphenburger Str. 7 – 80335 – München 100.00 % GHANA ACCRA BREWERY LTD – Farra Avenue 20 1st Floor, Pkf Building, P.O. Box Gp1219 – Accra 60.00 % GRAND DUCHY OF LUXEMBOURG BRASSERIE DE LUXEMBOURG MOUSEL – DIEKIRCH – 1, Rue de la Brasserie – L-9214 95.82 % HONDURAS CERVECERÍA HONDUREÑA, SA DE CV – Blvd. Del Norte, Carretera Salida a Puerto Cortes – San Pedro Sula, Cortes 99.60 % HONG KONG BUDWEISER BREWING CO APAC LTD – Flat Room 1823 18F Soundwill Plaza II-Middle 87.22 % INDIA CROWN BEERS INDIA LIMITED – 510/511 Minerva house, Sarojini devi road, Secunderabad 87.22 % 1 85% owned by Ambev S.A. Name and registered office of fully consolidated companies % of economic ANHEUSER BUSCH INBEV INDIA LIMITED. – Unit No.301-302, 86.97 % ITALY ANHEUSER BUSCH INBEV ITALIA SPA – Piazza Buffoni 3, 21013 Gallarate 100.00 % MEXICO CERVECERIA MODELO DE MEXICO S. DE R.L. DE C.V – Cerrada de Palomas 22, Piso 6, Reforma Social – C.P. 11650 – Mexico City, CD MX 100.00 % MOZAMBIQUE CERVEJAS DE MOÇAMBIQUE SA – Rua do Jardim 1329 – Maputo 51.47 % THE NETHERLANDS INBEV NEDERLAND N.V. – Ceresstraat 1 – 4811 CA – Breda 100.00 % INTERBREW INTERNATIONAL B.V. – Ceresstraat 1 – 4811 CA – Breda 100.00 % AB INBEV AFRICA B.V – Ceresstraat 1, 4811 CA – Breda 62.00 % AB INBEV BOTSWANA B.V. – Ceresstraat 1, 4811 CA – Breda 62.00 % NIGERIA INTERNATIONAL BREWERIES PLC – 22/36 Glover Road, Lagos, Ikoyi, Nigeria 1 43.65 % PANAMA CERVECERÍA NACIONAL S de RL – Ave. Ricardo J. Alfaro, Corregimiento de Betania, Distrito de Panamá, 61.84 % PARAGUAY CERVECERIA PARAGUAYA S.A. – Ruta Villeta km 30 N 3045 – 2660 – Ypané 54.01 % PERU COMPANIA CERVECERA AMBEV PERU S.A.C. – Av. Los Laureles Mza. A Lt. 4 del Centro Poblado Menor Santa Maria de Huachipa – Lurigancho (Chosica) – Lima 15 97.22 % UNIÓN DE CERVECERÍAS PERUANAS BACKUS Y JOHNSTON SAA – 3986 Av. Nicolas Ayllon, Ate, Lima 3 93.78 % SOUTH AFRICA SABSA HOLDINGS LTD PUBLIC LIMITED COMPANY – 65 Park Lane, Sandown – 2001 – Johannesburg 100.00 % THE SOUTH AFRICAN BREWERIES (PTY) LTD LIMITED BY SHARES – 65 Park Lane, Sandown – 2146 – Johannesburg 96.48 % SOUTH KOREA ORIENTAL BREWERY CO., LTD – 8F, ASEM Tower, 517, Yeongdong-daero, Gangnam-gu, 87.22 % SWITZERLAND ANHEUSER-BUSCH INBEV PROCUREMENT GMBH GESELLSCHAFT MIT BESCHRÄNKTER HAFTUNG (GMBH) – Suurstoffi 22 – 6343 – Rotkreuz 100.00 % TANZANIA KIBO BREWERIES LTD PRIVATE COMPANY – Uhuru Street, Plot No 79, Block AA, Mchikichini, Ilala District – Dar es Salaam 1 36.00 % UGANDA NILE BREWERIES LTD – Plot M90 Yusuf Lule Roa, Njeru, Jinja – Eastern Uganda 61.64 % 1 The company is consolidated due to the group’s majority shareholdings and ability to control the operations Name and registered office of fully consolidated companies % of economic interest as at 31 December 2020 UNITED KINGDOM ABI SAB GROUP HOLDING LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN 100.00 % ABI UK HOLDINGS 1 LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN 100.00 % AB INBEV UK LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN 100.00 % AB INBEV HOLDINGS LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN 100.00 % AB INBEV INTERNATIONAL BRANDS LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN 100.00 % ZX VENTURES LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN 100.00 % UNITED STATES ANHEUSER-BUSCH COMPANIES, LLC. - One Busch Place - St. Louis, MO 63118 100.00 % ANHEUSER-BUSCH INTERNATIONAL, INC. - One Busch Place - St. Louis, MO 63118 100.00 % ANHEUSER-BUSCH PACKAGING GROUP, INC. - One Busch Place - St. Louis, MO 63118 100.00 % ANHEUSER-BUSCH, LLC – One Busch Place, St. Louis, Mo. 63118 100.00 % ANHEUSER-BUSCH NORTH AMERICAN HOLDING CORPORATION - C/O THE CORPORATION TRUST COMPANY INC. - 1209 Orange Street - DE 19801 – Wilmington 100.00 % METAL CONTAINER CORPORATION, INC. – One Busch Place, St. Louis, Mo. 63118 50.10 % URUGUAY CERVECERIA Y MALTERIA PAYSANDU S.A. - Cesar Cortinas, 2037 - C.P. 11500 – Montevideo 61.79 % VIETNAM ANHEUSER-BUSCH INBEV VIETNAM BREWERY COMPANY LIMITED/No.2 VSIP II-A, II-A 87.22 % ZAMBIA ZAMBIAN BREWERIES PLC - Mungwi Road, Plot Number 6438, Lusaka 54.00 % LIST OF MOST IMPORTANT ASSOCIATES AND JOINT VENTURES Name and registered office of associates and joint ventures % of economic interest as at 31 December 2020 FRANCE SOCIÉTÉ DES BRASSERIES ET GLACIÈRES INTERNATIONALES SA - 49 Rue François 1er, Paris 20.00 % GIBRALTAR BIH BRASSERIES INTERNATIONALES HOLDING LTD - CC Building, 10th Floor, Main Street 20.00 % BIH BRASSERIES INTERNATIONALES HOLDING (ANGOLA) LTD - Suite 10/3, International Commercial Centre, 2A Main Street 27.00 % TURKEY ANADOLU EFES BIRACILIK VE MALT SANAYII AS - Bahçelievler Mahallesi, Sehit Ibrahim Koparir Caddesi No. 4, Bahçelievler Istanbul 24.00 % ZIMBABWE DELTA CORPORATION LTD - Sable house, P.O. Box BW 343, Northridge Close, Borrowdale, Harare 25.39 % RUSSIA AB INBEV EFES - 28 Moscovskaya Street, Moscow region - 141607 – Klin 50.00 % |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
BASIS OF PREPARATION AND MEASUREMENT | (A) BASIS OF PREPARATION AND MEASUREMENT Depending on the applicable IFRS requirements, the measurement basis used in preparing the financial statements is cost, net realizable value, fair value or recoverable amount. Whenever IFRS provides an option between cost and another measurement basis (e.g. systematic re-measurement), |
FUNCTIONAL AND PRESENTATION CURRENCY | (B) FUNCTIONAL AND PRESENTATION CURRENCY Unless otherwise specified, all financial information included in these financial statements has been stated in US dollar and has been rounded to the nearest million. As from 2009, following the combination with Anheuser-Bush, the company changed the presentation currency of the consolidated financial statements from the euro to the US dollar to provide greater alignment of the presentation currency with AB InBev’s most significant operating currency and underlying financial performance. The functional currency of the parent company is the euro. |
USE OF ESTIMATES AND JUDGMENTS | (C) USE OF ESTIMATES AND JUDGMENTS The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. |
PRINCIPLES OF CONSOLIDATION | (D) PRINCIPLES OF CONSOLIDATION Subsidiaries are those entities controlled by AB InBev. AB InBev controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. In assessing control, potential voting rights are taken into account. Control is presumed to exist where AB InBev owns, directly or indirectly, more than one half of the voting rights (which does not always equate to economic ownership), unless it can be demonstrated that such ownership does not constitute control. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Total comprehensive income of subsidiaries is attributed to the owners of the company and to the non-controlling non-controlling Associates are undertakings in which AB InBev has significant influence over the financial and operating policies, but which it does not control. This is generally evidenced by ownership of between 20% and 50% of the voting rights. A joint venture is an arrangement in which AB InBev has joint control, whereby AB InBev has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Associates and joint ventures are accounted for by the equity method of accounting, from the date that significant influence or joint control commences until the date that significant influence or joint control ceases. When AB InBev’s share of losses exceeds the carrying amount of the associate or joint venture, the carrying amount is reduced to nil and recognition of further losses is discontinued except to the extent that AB InBev has incurred legal or constructive obligations on behalf of the associate or joint venture. Joint operations arise when AB InBev has rights to the assets and obligations to the liabilities of a joint arrangement. AB InBev accounts for its share of the assets, liabilities, revenues and expenses as from the moment joint operation commences until the date that joint operation ceases. The financial statements of the company’s subsidiaries, joint ventures, joint operations and associates are prepared for the same reporting year as the parent company, using consistent accounting policies. In exceptional cases when the financial statements of a subsidiary, joint venture, joint operation or associate are prepared as of a different date from that of AB InBev, adjustments are made for the effects of significant transactions or events that occur between that date and the date of AB InBev’s financial statements. In such cases, the difference between the end of the reporting period of these subsidiaries, joint ventures, joint operations or associates from AB InBev’s reporting period is no more than three months. Results from the company’s associates Anadolu Efes and Castel are reported on a three-month lag. Therefore, estimates are made to reflect AB InBev’s share in the result of these associates for the last quarter. Such estimates are revisited when required. Transactions with non-controlling non-controlling non-controlling All intercompany transactions, balances and unrealized gains and losses on transactions between group companies have been eliminated. Unrealized gains arising from transactions with joint ventures, joint operations and associates are eliminated to the extent of AB InBev’s interest in the entity. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. A listing of the company’s most important subsidiaries, joint ventures, joint operations and associates is set out in Note 36 AB InBev companies |
SUMMARY OF CHANGES IN ACCOUNTING POLICIES | (E) SUMMARY OF CHANGES IN ACCOUNTING POLICIES A number of new standards, amendment to standards and new interpretations became mandatory for the first time for the financial year beginning on 1 January 2020 and have not been listed in these consolidated financial statements as they either do not apply or are immaterial to AB InBev’s consolidated financial statements. In March 2020, the SEC amended its regulations regarding financial information of guarantors and issuers of guaranteed securities registered or being registered. We adopted these amendments for the year ended 31 December 2020, which included replacing guarantor condensed consolidating financial information with summarized financial information for the combined obligor group (Parent, Issuer and Guarantor Subsidiaries) in accordance with the amended regulations and no longer requiring guarantor cash flow information, financial information for non-guarantor subsidiaries, or a reconciliation to the consolidated results. The location of the required disclosures has been removed from the Notes to the Consolidated Financial Statements and moved to “ Item 5. Operating and Financial Review—G. Liquidity and Capital Resources—Guarantor Financial Information” |
FOREIGN CURRENCIES | (F) FOREIGN CURRENCIES Foreign currency transactions Foreign currency transactions are accounted for at exchange rates prevailing at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rates prevailing on the date of the balance sheet. Gains and losses resulting from the settlement of foreign currency transactions and from the translation of monetary assets and liabilities denominated in foreign currencies are recognized in the income statement. Non-monetary Non-monetary Translation of the results and financial position of foreign operations Assets and liabilities of foreign operations are translated to US dollar at foreign exchange rates prevailing at the balance sheet date. Income statements of foreign operations, excluding foreign entities in hyperinflationary economies, are translated to US dollar at exchange rates for the year approximating the foreign exchange rates prevailing at the dates of the transactions. The components of shareholders’ equity are translated at historical rates. Exchange differences arising from the translation of shareholders’ equity to US dollar at period-end Financial Reporting in hyperinflationary economies In May 2018, the Argentinean peso underwent a severe devaluation, causing Argentina´s three-year cumulative inflation to exceed 100% and thus, triggering the requirement to transition to hyperinflation accounting as prescribed by IAS 29 Financial Reporting in Hyperinflationary Economies Under IAS 29, non-monetary re-measured Consequently, the company applied hyperinflation accounting for its Argentinean subsidiaries for the first time in the year-to-date • Non-monetary Finance cost and income • The income statement is adjusted at the end of each reporting period using the change in the general price index. It is converted at the closing exchange rate of each period (rather than the year-to-date non-hyperinflationary year-to-date The 2020 results, restated for purchasing power, were translated at the December 2020 closing rate of 84.143520 Argentinean pesos per US dollar (2019 results – at 59.890668 Argentinean pesos per US dollar). Exchange rates The most important exchange rates that have been used in preparing the financial statements are: Closing rate Average rate 1 US dollar equals: 31 December 31 December 31 December 31 December 31 December 31 December Argentinean peso 84.143520 59.890668 37.807879 — — — Brazilian real 5.196694 4.030696 3.874806 5.133082 3.940998 3.634827 Canadian dollar 1.273981 1.299449 1.362882 1.346594 1.329140 1.293896 Colombian peso 3 438.52 3 272.63 3 246.70 3 689.50 3 305.84 2 967.36 Chinese yuan 6.537798 6.961461 6.877787 6.947936 6.886265 6.581607 Euro 0.814930 0.890155 0.873362 0.878101 0.892577 0.845697 Mexican peso 19.948838 18.845242 19.682728 21.182539 19.334915 19.195084 Pound sterling 0.732646 0.757344 0.781249 0.780195 0.784062 0.750773 Peruvian nuevo sol 3.621009 3.317006 3.369998 3.491580 3.346670 3.284477 South Korean won 1 088.02 1 154.54 1 115.40 1 185.02 1 160.69 1 095.46 South African rand 14.686598 14.044287 14.374909 16.213180 14.512975 13.105486 |
INTANGIBLE ASSETS | (G) INTANGIBLE ASSETS Research and development Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is recognized in the income statement as an expense as incurred. Expenditure on development activities, whereby research findings are applied to a plan or design for the production of new or substantially improved products and processes, is capitalized if the product or process is technically and commercially feasible, future economic benefits are probable and the company has sufficient resources to complete development. The expenditure capitalized includes the cost of materials, direct labor and an appropriate proportion of overheads. Other development expenditure is recognized in the income statement as an expense as incurred. Capitalized development expenditure is stated at cost less accumulated amortization (see below) and impairment losses (refer to accounting policy O). Amortization related to research and development intangible assets is included within the cost of sales if production related and in sales and marketing if related to commercial activities. Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets are capitalized as part of the cost of such assets. Supply and distribution rights A supply right is the right for AB InBev to supply a customer and the commitment by the customer to purchase from AB InBev. A distribution right is the right to sell specified products in a certain territory. Acquired distribution rights are measured initially at cost or fair value when obtained through a business combination. Amortization related to supply and distribution rights is included within sales and marketing expenses. Brands If part of the consideration paid in a business combination relates to trademarks, trade names, formulas, recipes or technological expertise these intangible assets are considered as a group of complementary assets that is referred to as a brand for which one fair value is determined. Expenditure on internally generated brands is expensed as incurred. Software Purchased software is measured at cost less accumulated amortization. Expenditure on internally developed software is capitalized when the expenditure qualifies as development activities; otherwise, it is recognized in the income statement when incurred. Amortization related to software is included in cost of sales, distribution expenses, sales and marketing expenses or administrative expenses based on the activity the software supports. Other intangible assets Other intangible assets, acquired by the company, are recognized at cost less accumulated amortization and impairment losses. Other intangible assets also include multi-year sponsorship rights acquired by the company. These are initially recognized at the present value of the future payments and subsequently measured at cost less accumulated amortization and impairment losses. Subsequent expenditure Subsequent expenditure on capitalized intangible assets is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditures are expensed as incurred. Amortization Intangible assets with a finite life are amortized using the straight-line method over their estimated useful lives. Licenses, brewing, supply and distribution rights are amortized over the period in which the rights exist. Brands are considered to have an indefinite life unless plans exist to discontinue the brand. Discontinuance of a brand can be either through sale or termination of marketing support. When AB InBev purchases distribution rights for its own products the life of these rights is considered indefinite, unless the company have a plan to discontinue the related brand or distribution. Software and capitalized development costs related to technology are amortized over 3 to 5 years. Brands are deemed intangible assets with indefinite useful lives and, therefore, are not amortized but tested for impairment on an annual basis (refer to accounting policy O). Gains and losses on sale Net gains on sale of intangible assets are presented in the income statement as other operating income. Net losses on sale are included as other operating expenses. Net gains and losses are recognized in the income statement when the control has been transferred to the buyer, recovery of the consideration is probable, the associated costs can be estimated reliably, and there is no continuing managerial involvement with the intangible assets. |
BUSINESS COMBINATIONS | (H) BUSINESS COMBINATIONS The company applies the acquisition method of accounting to account for acquisitions of businesses. The cost of an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred and equity instruments issued. Identifiable assets, liabilities and contingent liabilities acquired or assumed are measured separately at their fair value as of the acquisition date. The excess of the cost of the acquisition over the company’s interest in the fair value of the identifiable net assets acquired is recorded as goodwill. The allocation of fair values to the identifiable assets acquired and liabilities assumed is based on various assumptions requiring management judgment. Acquisition-related costs are expensed as incurred. If the business combination is achieved in stages, the acquisition date carrying value of AB InBev’s previously held interest in the acquiree is re-measured re-measurement |
GOODWILL | (I) GOODWILL Goodwill is determined as the excess of the consideration paid over AB InBev’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the acquired subsidiary, jointly controlled entity or associate recognized at the date of acquisition. All business combinations are accounted for by applying the purchase method. In conformity with IFRS 3 Business Combinations year-end If AB InBev’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognized exceeds the cost of the business combination such excess is recognized immediately in the income statement as required by IFRS 3 Business Combinations |
PROPERTY, PLANT AND EQUIPMENT | (J) PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is measured at cost less accumulated depreciation and impairment losses (refer to accounting policy O). Cost includes the purchase price and any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management (e.g. nonrefundable tax and transport cost). The cost of a self-constructed Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets are capitalized as part of the cost of such assets. Subsequent expenditure The company recognizes in the carrying amount of an item of property, plant and equipment the cost of replacing part of such an item when that cost is incurred if it is probable that the future economic benefits embodied with the item will flow to the company and the cost of the item can be measured reliably. All other costs are expensed as incurred. Depreciation The depreciable amount is the cost of an asset less its residual value. Residual values, if not insignificant, are reassessed annually. Depreciation is calculated from the date the asset is available for use, using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are defined in terms of the asset’s expected utility to the company and can vary from one geographical area to another. On average the estimated useful lives are as follows: Industrial buildings – other real estate properties 20 – 50 years Production plant and equipment: Production equipment 10 – 15 years Storage, packaging and handling equipment 5 – 7 years Returnable packaging: Kegs 2 – 10 years Crates 2 – 10 years Bottles 2 – 5 years Point of sale furniture and equipment 5 years Vehicles 5 years Information processing equipment 3 – 5 years Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment. Land is not depreciated as it is deemed to have an indefinite life. Gains and losses on sale Net gains on sale of items of property, plant and equipment are presented in the income statement as other operating income. Net losses on sale are presented as other operating expenses. Net gains and losses are recognized in the income statement when the control has been transferred to the buyer, recovery of the consideration is probable, the associated costs can be estimated reliably, and there is no continuing managerial involvement with the property, plant and equipment. |
ACCOUNTING FOR LEASES | (K) LEASES The company as lessee The company assesses whether a contract is or contains a lease at inception of a contract. The company recognizes a right-of-use The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the company uses its incremental borrowing rate specific to the country, term and currency of the contract. In addition, the company considers its recent debt issuances as well as publicly available data for instruments with similar characteristics when calculating the incremental borrowing rates. Lease payments include fixed payments, less any lease incentives, variable lease payments that depend on an index or a rate known at the commencement date, and purchase options or extension option payments if the company is reasonably certain to exercise these options. Variable lease payments that do not depend on an index or rate are not included in the measurement of the lease liability and right-of-use A lease liability is remeasured upon a change in the lease term, changes in an index or rate used to determine the lease payments or reassessment of exercise of a renewal and/or purchase option. The corresponding adjustment is made to the related right-of-use The right-of-use right-of-use The lease liability is presented in the ‘Interest-bearing loans and borrowings’ line and the right-of-use The company as lessor Leases where the company transfers substantially all the risks and rewards of ownership to the lessee are classified as finance leases. Leases of assets under which all the risks and rewards of ownership are substantially retained by the company are classified as operating leases. Rental income is recognized in other operating income on a straight-line basis over the term of the lease. |
INVENTORIES | (L) INVENTORIES Inventories are valued at the lower of cost and net realizable value. Cost includes expenditure incurred in acquiring the inventories and bringing them to their existing location and condition. The weighted average method is used in assigning the cost of inventories. The cost of finished products and work in progress comprises raw materials, other production materials, direct labor, other direct cost and an allocation of fixed and variable overhead based on normal operating capacity. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated completion and selling costs. Inventories are written down on a case-by-case |
TRADE AND OTHER RECEIVABLES | (M) TRADE AND OTHER RECEIVABLES Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business and generally due for settlement within 30 days. Trade receivables are recognized initially at the amount of the consideration that is unconditional unless they contain significant financing components, when they are recognized at the amount adjusted for the time value of money. The company holds trade and other receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest rate method. Trade and other receivables are carried at amortized cost less impairment losses. To determine the appropriate amount to be impaired factors such as significant financial difficulties of the debtor, probability that the debtor will default, enter into bankruptcy or financial reorganization, or delinquency in payments are considered. Other receivables are initially recognized at fair value and subsequently measured at amortized cost. Any impairment losses and foreign exchange results are directly recognized in profit or loss. |
CASH AND CASH EQUIVALENTS | (N) CASH AND CASH EQUIVALENTS Cash and cash equivalents include all cash balances and short-term highly liquid investments with a maturity of three months or less from the date of acquisition that are readily convertible into cash. They are stated at face value, which approximates their fair value. In the cash flow statement, cash and cash equivalents are presented net of bank overdrafts. |
IMPAIRMENT | (O) IMPAIRMENT The carrying amounts of property, plant and equipment, goodwill and intangible assets are reviewed at each balance sheet date to determine whether there is any indication of impairment. If there is an indicator of impairment, the asset’s recoverable amount is estimated. In addition, goodwill, intangible assets that are not yet available for use and intangibles with an indefinite useful life are tested for impairment annually at the cash-generating unit level (that is a country or group of countries managed as a group below a reporting region). An impairment loss is recognized whenever the carrying amount of an asset or the related cash-generating unit exceeds its recoverable amount. Impairment losses are recognized in the income statement. Calculation of recoverable amount The recoverable amount of non-financial Impairment losses recognized in respect of cash-generating units firstly reduce allocated goodwill and then the carrying amounts of the other assets in the unit on a pro rata basis. Reversal of impairment losses Non-financial |
FAIR VALUE MEASUREMENT | (P) FAIR VALUE MEASUREMENT A number of AB InBev’s accounting policies and notes require fair value measurement for both financial and non-financial Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When measuring fair value, AB InBev uses observable market data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows: • Level 1: inputs are unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2: inputs are observable either directly (i.e. as prices) or indirectly (i.e. derived from prices). • Level 3: fair value measurements incorporates significant inputs that are based on unobservable market data. If the inputs used to measure the fair value of an asset or liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. The company applies fair value measurement to the instruments listed below. Derivatives The fair value of exchange traded derivatives (e.g. exchange traded foreign currency futures) is determined by reference to the official prices published by the respective exchanges (e.g. the New York Board of Trade). The fair value of over-the-counter Debt securities This category includes both debt securities designated at FVOCI and FVPL. The fair value is measured using observable inputs such as interest rates and foreign exchange rates. When it pertains to instruments that are publicly traded, the fair value is determined by reference to observable quotes. In circumstances where debt securities are not publicly traded, the main valuation technique is the discounted cash flow. The company may apply other valuation techniques or combination of valuation techniques if the fair value results are more relevant. Equity securities designated as at FVOCI Investments in equity securities comprise quoted and unquoted securities. When liquid quoted prices are available, these are used to fair value investments in quoted securities. The unquoted securities are fair valued using primarily the discounted cash flow method. Non-derivative The fair value of non-derivative |
SHARE CAPITAL | (Q) SHARE CAPITAL Repurchase of share capital When AB InBev buys back its own shares, the amount of the consideration paid, including directly attributable costs, is recognized as a deduction from equity under treasury shares. Dividends Dividends paid are recognized in the consolidated financial statements on the date that the dividends are declared unless minimum statutory dividends are required by local legislation or the bylaws of the company’s subsidiaries. In such instances, statutory minimum dividends are recognized as a liability. Share issuance costs Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
PROVISIONS | (R) PROVISIONS Provisions are recognized when (i) the company has a present legal or constructive obligation as a result of past events, (ii) it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and (iii) a reliable estimate of the amount of the obligation can be made. Provisions are determined by discounting the expected future cash flows at a pre-tax Restructuring A provision for restructuring is recognized when the company has approved a detailed and formal restructuring plan, and the restructuring has either commenced or has been announced publicly. Costs relating to the ongoing activities of the company are not provided for. The provision includes the benefit commitments in connection with early retirement and redundancy schemes. Onerous contracts A provision for onerous contracts is recognized when the expected benefits to be derived by the company from a contract are lower than the unavoidable cost of meeting its obligations under the contract. Such provision is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract. Disputes and Litigations A provision for disputes and litigation is recognized when it is more likely than not that the company will be required to make future payments as a result of past events, such items may include but are not limited to, several claims, suits and actions relating to antitrust laws, violations of distribution and license agreements, environmental matters, employment related disputes, claims from tax authorities related to indirect taxes, and alcohol industry litigation matters. |
EMPLOYEE BENEFITS | (S) EMPLOYEE BENEFITS Post-employment benefits Post-employment benefits include pensions, post-employment life insurance and post-employment medical benefits. The company operates a number of defined benefit and defined contribution plans throughout the world, the assets of which are generally held in separate trustee-managed funds. The pension plans are generally funded by payments from employees and the company, and, for defined benefit plans taking account of the recommendations of independent actuaries. AB InBev maintains funded and unfunded pension plans. a) Defined contribution plans Contributions to defined contribution plans are recognized as an expense in the income statement when incurred. A defined contribution plan is a pension plan under which AB InBev pays fixed contributions into a fund. AB InBev has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. b) Defined benefit plans A defined benefit plan is a pension plan that is not a defined contribution plan. Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation. For defined benefit plans, the pension expenses are assessed separately for each plan using the projected unit credit method. The projected unit credit method considers each period of service as giving rise to an additional unit of benefit entitlement. Under this method, the cost of providing pensions is charged to the income statement so as to spread the regular cost over the service lives of employees in accordance with the advice of qualified actuaries who carry out a full valuation of the plans at least every three years. The amounts charged to the income statement include current service cost, net interest cost (income), past service costs and the effect of any curtailments or settlements. Past service costs are recognized at the earlier of when the amendment / curtailment occurs or when the company recognizes related restructuring or termination costs. The pension obligations recognized in the balance sheet are measured at the present value of the estimated future cash outflows using interest rates based on high quality corporate bond yields, which have terms to maturity approximating the terms of the related liability, less the fair value of any plan assets. Re-measurements, Re-measurements Where the calculated amount of a defined benefit liability is negative (an asset), AB InBev recognizes such pension asset to the extent that economic benefits are available to AB InBev either from refunds or reductions in future contributions. Other post-employment obligations Some of AB InBev’s companies provide post-employment medical benefits to their retirees. The entitlement to these benefits is usually based on the employee remaining in service up to retirement age. The expected costs of these benefits are accrued over the period of employment, using an accounting methodology similar to that for defined benefit pension plans. Termination benefits Termination benefits are recognized as an expense at the earlier when the company is demonstrably committed, without realistic possibility of withdrawal, to a formal detailed plan to terminate employment before the normal retirement date and when the company recognizes costs for a restructuring. Termination benefits for voluntary redundancies are recognized if the company has made an offer encouraging voluntary redundancy and when the company can no longer withdraw the offer of termination, which is the earlier of either when the employee accepts the offer or when a legal, regulatory or contractual requirement or restriction on the company’s ability to withdraw the offer takes effect. Bonuses Bonuses received by company employees and management are based on pre-defined |
SHARE-BASED PAYMENTS | (T) SHARE-BASED PAYMENTS Different share and share option programs allow company senior management and members of the board to acquire shares of the company and some of its affiliates. The fair value of the share options is estimated at grant date, using an option pricing model that is most appropriate for the respective option. Based on the expected number of options that will vest, the fair value of the options granted is expensed over the vesting period. When the options are exercised, equity is increased by the amount of the proceeds received. Equity-settled share-based payment transactions with parties other than employees are measured at the fair value of the goods or services received, except where that fair value cannot be estimated reliably, in which case they are measured at the fair value of the equity instruments granted, measured at the date the company obtains the goods or the counterparty renders the service. |
INTEREST-BEARING LOANS AND BORROWINGS | (U) INTEREST-BEARING LOANS AND BORROWINGS Interest-bearing loans and borrowings are recognized initially at fair value, less attributable transaction costs. Subsequent to initial recognition, interest-bearing loans and borrowings are stated at amortized cost with any difference between the initial amount and the maturity amount being recognized in the income statement (in accretion expense) over the expected life of the instrument on an effective interest rate basis. |
TRADE AND OTHER PAYABLES | (V) TRADE AND OTHER PAYABLES Trade and other payables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method. |
INCOME TAX | (W) INCOME TAX Income tax on the profit for the year comprises current and deferred tax. Income tax is recognized in the income statement except to the extent that it relates to items recognized directly in equity, in which case the tax effect is also recognized directly in equity. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted, or substantively enacted, at the balance sheet date, and any adjustment to tax payable in respect of previous years. In accordance with IAS 12 Income Taxes so-called Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously. The company recognizes deferred tax assets, including assets arising from losses carried forward, to the extent that future probable taxable profit will be available against which the deferred tax asset can be utilized. A deferred tax asset is reduced to the extent that it is no longer probable that the related tax benefit will be realized. Effective 1 January 2019, AB InBev adopted IFRIC 23 Uncertainty over Income Tax Treatments |
INCOME RECOGNITION | (X) INCOME RECOGNITION Goods sold Revenue is measured based on the consideration to which the company expects to be entitled in a contract with a customer and excludes amounts collected on behalf of third parties. The company recognizes revenue when performance obligations are satisfied, meaning when the company transfers control of a product to a customer. Specifically, revenue recognition follows the following five-step approach: • Identification of the contracts with a customer • Identification of the performance obligations in the contracts • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contracts • Revenue recognition when performance obligations are satisfied Revenue from the sale of goods is measured at the amount that reflects the best estimate of the consideration expected to receive in exchange for those goods. Contracts can include significant variable elements, such as discounts, rebates, refunds, credits, price concessions, incentives, performance bonuses and penalties. Such trade incentives are treated as variable consideration. If the consideration includes a variable amount, the company estimates the amount of consideration to which it will be entitled in exchange for transferring the promised goods or services to the customer. Variable consideration is only included in the transaction price if it is highly probable that the amount of revenue recognized would not be subject to significant future reversals when the uncertainty is resolved. Royalty income The company recognizes the sales-based or usage-based royalties in other operating income when the later of the following events occurs: (a) the customer’s subsequent sales or usage; and (b) the performance obligation to which some or all of the sales-based or usage-based royalty has been allocated has been satisfied (or partially satisfied). Rental income Rental income is recognized in other operating income on a straight-line basis over the term of the lease. Government grants A government grant is recognized in the balance sheet initially as deferred income when there is reasonable assurance that it will be received and that the company will comply with the conditions attached to it. Grants that compensate the company for expenses incurred are recognized as other operating income on a systematic basis in the same periods in which the expenses are incurred. Grants that compensate the company for the acquisition of an asset are presented by deducting them from the acquisition cost of the related asset. Finance income Finance income comprises interest received or receivable on funds invested, dividend income, foreign exchange gains, losses on currency hedging instruments offsetting currency gains, gains on hedging instruments that are not part of a hedge accounting relationship, gains on financial assets measured at FVPL as well as any gains from hedge ineffectiveness (refer to accounting policy Z). Interest income is recognized as it accrues (taking into account the effective yield on the asset) unless collectability is in doubt. Dividend income Dividend income is recognized in the income statement on the date that the dividend is declared. |
EXPENSES | (Y) EXPENSES Finance costs Finance costs comprise interest payable on borrowings, calculated using the effective interest rate method, foreign exchange losses, gains on currency hedging instruments offsetting currency losses, results on interest rate hedging instruments, losses on hedging instruments that are not part of a hedge accounting relationship, losses on financial assets classified as trading, impairment losses on financial assets as well as any losses from hedge ineffectiveness (refer to accounting policy Z). All interest costs incurred in connection with borrowings or financial transactions are expensed as incurred as part of finance costs. Any difference between the initial amount and the maturity amount of interest-bearing loans and borrowings, such as transaction costs and fair value adjustments, are recognized in the income statement (in accretion expense) over the expected life of the instrument on an effective interest rate basis (refer to accounting policy V). The interest expense component of lease payments is also recognized in the income statement (in accretion expense) using the effective interest rate method. Research and development, advertising and promotional costs and systems development costs Research, advertising and promotional costs are expensed in the year in which these costs are incurred. Development costs and systems development costs are expensed in the year in which these costs are incurred if they do not meet the criteria for capitalization (refer to accounting policy G). Purchasing, receiving and warehousing costs Purchasing and receiving costs are included in the cost of sales, as well as the costs of storing and moving raw materials and packaging materials. The costs of storing finished products at the brewery as well as costs incurred for subsequent storage in distribution centers are included within distribution expenses. |
FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING | (Z) FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING AB InBev uses derivative financial instruments to mitigate the transactional impact of foreign currencies, interest rates, equity prices and commodity prices on the company’s performance. AB InBev’s financial risk management policy prohibits the use of derivative financial instruments for trading purposes and the company does therefore not hold or issue any such instruments for such purposes. Classification and measurement Except for certain trade receivables, the company initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs directly attributable to the acquisition or issue of the financial asset. Debt financial instruments are subsequently measured at amortized cost, FVOCI or FVPL. The classification is based on two criteria: the objective of the company’s business model for managing the assets; and whether the instruments’ contractual cash flows represent ‘solely payments of principal and interest’ on the principal amount outstanding (the ‘SPPI criterion’). The classification and measurement of the company’s financial assets is as follows: • Debt instruments at amortized cost: • Debt instruments at FVOCI with gains or losses recycled to profit or loss on derecognition: • Equity instruments designated at FVOCI, with no recycling of gains or losses to profit or loss on derecognition non-monetary • Financial assets and liabilities at FVPL: comprise derivative instruments and equity instruments which were not designated as FVOCI. This category also includes debt instruments which do not meet the cash flow or the business model tests. Hedge accounting The company designates certain derivatives as hedging instruments to hedge the variability in cash flows associated with highly probable forecast transactions arising from changes in foreign exchange rates, interest rates and commodity prices. To hedge changes in the fair value of recognized assets, liabilities and firm commitments, the company designates certain derivatives as part of fair value hedge. The company also designates certain derivatives and non-derivative At the inception of the hedging relationships, the company documents the risk management objective and strategy for undertaking the hedge. Hedge effectiveness is measured at the inception of the hedge relationship and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between hedged item and hedging instrument. For the different type of hedges in place, the company generally enters into hedge relationships where the critical terms of the hedging instrument match exactly the terms of the hedged item. Therefore, the hedge ratio is typically 1:1. The company performs a qualitative assessment of effectiveness. In circumstances where the terms of the hedged item no longer exactly match the critical terms of the hedging instrument, the company uses a hypothetical derivative method to assess effectiveness. Possible sources of ineffectiveness are changes in the timing of the forecasted transaction, changes in the quantity of the hedged item or changes in the credit risk of either parties to the derivative contract. Cash flow hedge accounting Cash flow hedge accounting is applied when a derivative hedges the variability in cash flows of a highly probable forecasted transaction, foreign currency risk of a firm commitment or a recognized asset or liability (such as variable interest rate instrument). When the hedged forecasted transaction or firm commitment subsequently results in the recognition of a non-financial non-financial For all other hedged transactions, the amount accumulated in the hedging reserves is reclassified to profit or loss in the same period during which the hedged item affects profit or loss (e.g. when the variable interest expense is recognized). When a hedging instrument or hedge relationship is terminated but the hedged transaction is still expected to occur, the cumulative gain or loss (at that point) remains in equity and is reclassified to profit or loss when the hedged transaction occurs. If the hedged transaction is no longer expected to occur, the cumulative gain or loss recognized in other comprehensive income is reclassified to profit or loss immediately. Any ineffectiveness is recognized immediately in profit or loss. Fair value hedge accounting When a derivative hedges the variability in fair value of a recognized asset or liability (such as a fixed rate instrument) or a firm commitment, any resulting gain or loss on the hedging instrument is recognized in the profit or loss. The carrying amount of the hedged item is also adjusted for fair value changes in respect of the risk being hedged, with any gain or loss being recognized in profit or loss. The fair value adjustment to the carrying amount of the hedged item is amortized to profit or loss from the date of discontinuation. Net investment hedge accounting When a non-derivative When a derivative financial instrument hedges a net investment in a foreign operation, the portion of the gain or the loss on the hedging instrument that is determined to be effective is recognized directly in other comprehensive income (translation reserves) and is reclassified to profit or loss upon disposal of the foreign operation, while the ineffective portion is reported in profit or loss. Offsetting Financial assets and financial liabilities are offset and the net amount presented in the statement of financial position when, and only when, the company has a currently legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. |
SEGMENT REPORTING | (AA) SEGMENT REPORTING Operating segments are components of the company’s business activities about which separate financial information is available that is evaluated regularly by senior management. The company has six operating segments. AB InBev’s operating segment reporting format is geographical because the company’s risks and rates of return are affected predominantly by the fact that AB InBev operates in different geographical areas. The company’s management structure and internal reporting system to the Board of Directors is set up accordingly. The company’s five geographic regions are North America, Middle Americas, South America, EMEA and Asia Pacific. The aggregation criteria applied are based on similarities in the economic indicators (e.g. margins) that have been assessed in determining that the aggregated operating segments share similar economic characteristics, as prescribed in IFRS 8. Furthermore, management assessed additional factors such as management’s views on the optimal number of reporting segments, AB InBev historical geographies, peer comparison (e.g. Asia Pacific and EMEA being a commonly reported regions amongst the company’s peers), as well as management’s view on the optimal balance between practical and more granular information. The results of Global Export and Holding Companies, which includes the company’s global headquarters and the export businesses in countries in which AB InBev has no operations are reported separately. The company’s five geographic regions plus the Global Export and Holding Companies comprise the company’s six reportable segments for financial reporting purposes. Segment capital expenditure is the total cost incurred during the period to acquire property, plant and equipment, and intangible assets other than goodwill. |
EXCEPTIONAL ITEMS | (BB) EXCEPTIONAL ITEMS Exceptional items are those that in management’s judgment need to be disclosed separately by virtue of their size or incidence. Such items are disclosed on the face of the consolidated income statement or separately disclosed in the notes to the financial statements. Transactions which may give rise to exceptional items are principally restructuring activities, impairments, gains or losses on disposal of investments and the effect of the accelerated repayment of certain debt facilities. |
DISCONTINUED OPERATIONS AND NON-CURRENT ASSETS HELD FOR SALE | (CC) DISCONTINUED OPERATIONS AND NON-CURRENT A discontinued operation is a component of the company that either has been disposed of or is classified as held for sale and represents a separate major line of business or geographical area of operations and is part of a single coordinated plan to dispose of or is a subsidiary acquired exclusively with a view to resale. AB InBev classifies a non-current non-current re-measurement. Non-current |
RECENTLY ISSUED IFRS | (DD) RECENTLY ISSUED IFRS To the extent that new IFRS requirements are expected to be applicable in the future, they have not been applied in preparing these consolidated financial statements for the year ended 31 December 2020. A number of amendments to standards are effective for annual periods beginning after 1 January 2020, and have not been discussed either because of their non-applicability |
Summary of significant accoun_3
Summary of significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Exchange Rates | The most important exchange rates that have been used in preparing the financial statements are: Closing rate Average rate 1 US dollar equals: 31 December 31 December 31 December 31 December 31 December 31 December Argentinean peso 84.143520 59.890668 37.807879 — — — Brazilian real 5.196694 4.030696 3.874806 5.133082 3.940998 3.634827 Canadian dollar 1.273981 1.299449 1.362882 1.346594 1.329140 1.293896 Colombian peso 3 438.52 3 272.63 3 246.70 3 689.50 3 305.84 2 967.36 Chinese yuan 6.537798 6.961461 6.877787 6.947936 6.886265 6.581607 Euro 0.814930 0.890155 0.873362 0.878101 0.892577 0.845697 Mexican peso 19.948838 18.845242 19.682728 21.182539 19.334915 19.195084 Pound sterling 0.732646 0.757344 0.781249 0.780195 0.784062 0.750773 Peruvian nuevo sol 3.621009 3.317006 3.369998 3.491580 3.346670 3.284477 South Korean won 1 088.02 1 154.54 1 115.40 1 185.02 1 160.69 1 095.46 South African rand 14.686598 14.044287 14.374909 16.213180 14.512975 13.105486 |
Summary of Estimated Useful Live of Assets Expected Utility | The estimated useful lives are defined in terms of the asset’s expected utility to the company and can vary from one geographical area to another. On average the estimated useful lives are as follows: Industrial buildings – other real estate properties 20 – 50 years Production plant and equipment: Production equipment 10 – 15 years Storage, packaging and handling equipment 5 – 7 years Returnable packaging: Kegs 2 – 10 years Crates 2 – 10 years Bottles 2 – 5 years Point of sale furniture and equipment 5 years Vehicles 5 years Information processing equipment 3 – 5 years |
Segment reporting (Tables)
Segment reporting (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Segment Reporting | All figures in the tables below are stated in million US dollar, except volume (million hls) and Normalized EBITDA margin (in %). North America Middle Americas South America EMEA Asia Pacific 2020 2019 2018 2020 2019 2018 2020 2019 2018 2020 2019 2018 2020 2019 2018 Volume 107 108 111 121 134 129 144 140 136 76 86 87 82 93 96 Revenue 15 622 15 488 15 504 10 032 11 912 11 614 8 092 9 790 10 238 6 835 7 911 8 368 5 648 6 544 6 735 Normalized EBITDA 6 172 6 185 6 199 5 014 6 356 6 033 3 179 4 145 4 696 1 895 2 781 3 184 1 737 2 287 2 178 Normalized EBITDA margin % 39.5 % 39.9 % 40.0 % 50.0 % 53.4 % 51.9 % 39.3 % 42.3 % 45.9 % 27.7 % 35.2 % 38.1 % 30.8 % 35.0 % 32.3 % Depreciation, amortization and impairment (803 ) (833 ) (834 ) (1 017 ) (921 ) (844 ) (767 ) (955 ) (1 008 ) (988 ) (974 ) (936 ) (646 ) (648 ) (734 ) Normalized profit from operations (EBIT) 5 369 5 352 5 365 3 997 5 435 5 189 2 412 3 190 3 688 907 1 807 2 248 1 091 1 639 1 444 Exceptional items (see Note 8) (222 ) (11 ) (10 ) (112 ) (51 ) (151 ) (62 ) (96 ) 1 (2 629 ) (61 ) (370 ) (29 ) (41 ) (43 ) Profit from operations (EBIT) 5 147 5 341 5 355 3 885 5 384 5 038 2 350 3 094 3 689 (1 722 ) 1 746 1 878 1 062 1 598 1 401 Net finance income/(cost) Share of results of associates and joint ventures Income tax expense Profit from continuing operations Discontinued operations results Profit/(loss) Segment assets (non-current) 63 765 63 725 63 443 72 331 76 168 71 844 12 348 13 452 13 250 35 578 39 442 42 874 13 845 13 450 22 545 Gross capex 646 679 917 829 1 286 1 324 727 1 063 777 768 1 208 1 163 508 626 599 FTE 20 281 20 040 19 323 48 751 52 412 53 140 40 630 41 603 40 503 22 357 23 804 23 604 26 510 29 482 31 523 Global Export and Holding AB InBev Worldwide 2020 2019 2018 2020 2019 2018 Volume 1 1 1 531 561 560 Revenue 652 685 582 46 881 52 329 53 041 Normalized EBITDA (677 ) (676 ) (558 ) 17 321 21 078 21 732 Normalized EBITDA margin % — — — 36.9 % 40.3 % 41.0 % Depreciation, amortization and impairment (376 ) (325 ) (269 ) (4 598 ) (4 657 ) (4 624 ) Normalized profit from operations (EBIT) (1 053 ) (1 001 ) (827 ) 12 723 16 421 17 107 Exceptional items (see Note 8) (50 ) (63 ) (119 ) (3 103 ) (323 ) (692 ) Profit from operations (EBIT) (1 103 ) (1 064 ) (946 ) 9 620 16 098 16 414 Net finance income/(cost) (7 697 ) (3 473 ) (8 826 ) Share of results of associates 156 152 153 Income tax expense (1 932 ) (2 786 ) (2 585 ) Profit from continuing operations 147 9 990 5 157 Discontinued operations results 2 055 424 531 Profit/(loss) 2 202 10 414 5 688 Segment assets (non-current) 2 024 1 597 1 631 199 891 207 834 215 587 Gross capex 303 312 224 3 781 5 174 5 005 FTE 5 166 4 574 4 683 163 695 171 915 172 776 |
Acquisitions and disposals of_2
Acquisitions and disposals of subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Impact of Acquisitions and Disposals on Consolidated Statements | The table below summarizes the impact of acquisitions and disposals on the statement of financial position and cash flows of AB InBev for the year ended 31 December 2020 and 31 December 2019: Million US dollar 2020 2019 2020 2019 Non-current Property, plant and equipment 149 44 — (1 ) Intangible assets 162 128 — (29 ) Investments in associates (7 ) (15 ) — — Current assets Inventories 33 43 — (7 ) Trade and other receivables 9 19 — (1 ) Cash and cash equivalents 5 40 — — Non-current Interest-bearing loans and borrowings (74 ) (11 ) — — Trade and other payables (34 ) (110 ) — — Deferred tax liabilities (6 ) (33 ) — 9 Current liabilities Interest-bearing loans and borrowings (4 ) — — — Trade and other payables (59 ) (65 ) — 2 Net identifiable assets and liabilities 174 40 — (27 ) Non-controlling — (12 ) — 2 Goodwill on acquisitions and goodwill disposed of 185 682 — (22 ) Loss/(gain) on disposal — — — (21 ) Consideration to be (paid)/received (14 ) (275 ) — — Net cash paid/(received) on prior years acquisitions/(disposals) 170 16 — (65 ) Consideration paid/(received) 515 451 — (133 ) Cash (acquired)/disposed of (5 ) (40 ) — — Net cash outflow / (inflow) 510 411 — (133 ) Net cash outflow / (inflow) on continuing operations 510 385 — (133 ) Net cash outflow / (inflow) on discontinued operations — 26 — — |
Other operating income_(expen_2
Other operating income/(expenses) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Other Operating Income/(Expenses) | Million US dollar 2020 2019 2018 Brazilian tax credits 481 — — Government grants 227 280 317 Net gain on disposal of property, plant and equipment, intangible assets and assets held for sale 56 172 80 License income 22 30 45 Net (additions to)/reversals of provisions (14 ) (10 ) (11 ) Net rental and other operating income 72 402 374 Other operating income/(expenses) 845 875 805 |
Exceptional items (Tables)
Exceptional items (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Exceptional Items Included in Income Statement | The exceptional items included in the income statement are as follows: Million US dollar 2020 2019 2018 Impairment of goodwill (2 500 ) — — COVID-19 (182 ) — — Restructuring (157 ) (170 ) (363 ) Business and asset disposal (including exceptional impairment losses) (239 ) (50 ) (26 ) Acquisition costs business combinations (25 ) (23 ) (73 ) Brazil State tax regularization program — (74 ) — Cost related to public offering of minority stake in Budweiser APAC — (6 ) — Provision for EU investigation — — (230 ) Impact on profit from operations (3 103 ) (323 ) (692 ) Gain on disposal of Australia 1 919 — — Impact on profit from discontinued operations (1 184 ) — — |
Payroll and related benefits (T
Payroll and related benefits (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Payroll and Related Benefits | Million US dollar 2020 2019 2018 Wages and salaries (4 124 ) (4 563 ) (4 638 ) Social security contributions (582 ) (683 ) (694 ) Other personnel cost (637 ) (678 ) (708 ) Pension expense for defined benefit plans (218 ) (193 ) (192 ) Share-based payment expense (169 ) (340 ) (353 ) Contributions to defined contribution plans (91 ) (101 ) (109 ) Payroll and related benefits (5 821 ) (6 558 ) (6 694 ) |
Summary of Number of Full Time Equivalents | The number of full time equivalents can be split as follows: 2020 2019 2018 AB InBev NV/SA (parent company) 204 204 180 Other subsidiaries 163 491 171 711 172 596 Total number of FTE 163 695 171 915 172 776 |
Additional information on ope_2
Additional information on operating expenses by nature (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Depreciation, Amortization and Impairment Charges | Depreciation, amortization and impairment charges are included in the following line items of the 2020 consolidated income statement: Million US dollar Depreciation and Amortization and Depreciation and right-of-use asset Impairment of Cost of sales 2 625 91 16 — Distribution expenses 141 3 108 — Sales and marketing expenses 339 291 224 — Administrative expenses 310 323 125 — Other operating expenses 3 — — — Exceptional items — — — 2 733 Depreciation, amortization and impairment 3 418 708 473 2 733 Depreciation, amortization and impairment charges are included in the following line items of the 2019 consolidated income statement: Million US dollar Depreciation and Amortization and Depreciation and right-of-use asset Impairment of Cost of sales 2 751 86 11 — Distribution expenses 155 4 191 — Sales and marketing expenses 379 247 160 — Administrative expenses 277 290 98 — Other operating expenses 8 — — — Depreciation, amortization and impairment 3 570 627 460 — Depreciation, amortization and impairment charges are included in the following line items of the 2018 restated consolidated income statement: Million US dollar (restated) Depreciation and Amortization and Depreciation and right-of-use asset Impairment of Cost of sales 2 807 67 — — Distribution expenses 166 3 186 — Sales and marketing expenses 414 165 153 — Administrative expenses 285 254 116 — Other operating expenses 8 — — — Depreciation, amortization and impairment 3 680 489 455 — |
Finance cost and income (Tables
Finance cost and income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Finance Cost and Income Included in Income Statement | The finance cost and income included in the income statement are as follows: Million US dollar 2020 2019 2018 Interest expense (4 016 ) (4 168 ) (4 141 ) Capitalization of borrowing costs 12 19 23 Net interest on net defined benefit liabilities (82 ) (95 ) (94 ) Accretion expense (564 ) (650 ) (511 ) Net losses on hedging instruments that are not part of a hedge accounting relationship (502 ) (393 ) (449 ) Net foreign exchange results (net of the effect of foreign exchange derivative instruments) — (180 ) — Tax on financial transactions (103 ) (79 ) (110 ) Net mark-to-market (1 — (1 Other financial costs, including bank fees (135 ) (225 ) (242 ) Finance cost excluding exceptional items (6 601 ) (5 771 ) (7 298 ) Exceptional finance cost (1 818 ) (222 ) (1 982 ) Finance cost (8 419 ) (5 993 ) (9 280 ) Interest income 150 292 326 Interest income on Brazilian tax credits 315 118 7 Hyperinflation monetary adjustments 76 86 46 Market-to-market — 898 — Net foreign exchange results (net of the effect of foreign exchange derivative instruments) 43 — 19 Other financial income 58 21 56 Finance income excluding exceptional items 642 1 415 454 Exceptional finance income 80 1 104 — Finance income 722 2 519 454 Net finance income/(cost) excluding exceptional items (5 959 ) (4 355 ) (6 844 ) Net finance income/(cost) (7 697 ) (3 473 ) (8 826 ) |
Summary of Interest Income | The interest income stems from the following financial assets: Million US dollar 2020 2019 2018 Cash and cash equivalents 103 237 256 Investment debt securities held for trading 1 9 22 Other loans and receivables 46 46 48 Total 150 292 326 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Income Taxes | Income taxes recognized in the income statement can be detailed as follows: Million US dollar 2020 2019 2018 Current year (2 082 ) (2 863 ) (2 704 ) (Underprovided)/overprovided in prior years 119 58 101 Current tax expense (1 963 ) (2 805 ) (2 603 ) Origination and reversal of temporary differences (30 ) (21 ) (148 ) (Utilization)/recognition of deferred tax assets on tax losses 13 13 120 Recognition of previously unrecognized tax losses 48 27 46 Deferred tax (expense)/income 31 19 18 Total income tax expense (1 932 ) (2 786 ) (2 585 ) |
Summary of Reconciliation of Effective Tax Rate with Aggregated Weighted Nominal Tax Rate | The reconciliation of the effective tax rate with the aggregated weighted nominal tax rate can be summarized as follows: Million US dollar 2020 2019 2018 Profit before tax 2 079 12 776 7 741 Deduct share of results of associates and joint ventures 156 152 153 Profit before tax and before share of results of associates and joint ventures 1 924 12 624 7 588 Adjustments to the tax basis Government incentives (428 ) (709 ) (742 ) Non-deductible/(non-taxable) 2 219 (1 776 ) 3 496 Non-deductible 2 500 — Other expenses not deductible for tax purposes 1 512 1 223 1 796 Other non-taxable (250 ) (282 ) (158 ) 7 477 11 080 11 980 Aggregate weighted nominal tax rate 27.7 % 26.2 % 26.5 % Tax at aggregated nominal tax rate (2 069 ) (2 901 ) (3 172 ) Adjustments on tax expense Utilization of tax losses not previously recognized 13 13 120 Recognition of deferred taxes on previous years’ tax losses 48 27 46 Write-down of deferred tax assets on losses and current year losses for which no deferred tax asset is recognized (386 ) (137 ) (125 ) (Underprovided)/overprovided in prior years 119 58 101 Deductions from interest on equity 431 666 471 Deductions from goodwill 16 20 17 Other tax deductions 218 259 400 US Tax reform (change in tax rate and other) — — 116 Change in tax rate 61 (95 ) 144 Withholding taxes (423 ) (505 ) (403 ) Other tax adjustments 39 (191 ) (300 ) (1 932 ) (2 786 ) (2 585 ) Effective tax rate 100.4 % 22.1 % 34.1 % |
Summary of Detail Information of Income Tax Recognized in Other Comprehensive Income | Income taxes were directly recognized in other comprehensive income as follows: Million US dollar 2020 2019 2018 Re-measurements 58 19 22 Exchange differences, cash flow and net investment hedges 304 88 108 Income tax (losses)/gains 361 107 130 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Property, Plant and Equipment Owned and Leased Assets | Property, plant and equipment comprises owned and leased assets, as follows: Million US dollar 31 December 31 December Property, plant and equipment owned 24 191 25 515 Property, plant and equipment leased (right-of-use 2 228 2 029 Total property, plant and equipment 26 419 27 544 |
Summary of Property, Plant and Equipment | 31 December 2020 31 December Million US dollar Land and Plant and Under Total Total Acquisition cost Balance at end of previous year 12 216 34 381 2 160 48 757 47 969 Effect of movements in foreign exchange (393 ) (1 086 ) (165 ) (1 644 ) (485 ) Acquisitions 24 856 2 308 3 188 4 451 Acquisitions through business combinations 40 56 16 111 24 Disposals (68 ) (1 186 ) (19 ) (1 274 ) (1 987 ) Disposals through the sale of subsidiaries — — — — (4 ) Transfer (to)/from other asset categories and other movements¹ 419 1 955 (2 519 ) (145 ) (1 211 ) Balance at end of the period 12 237 34 976 1 780 48 993 48 757 Depreciation and impairment losses Balance at end of previous year (3 604 ) (19 638 ) — (23 242 ) (22 331 ) Effect of movements in foreign exchange 54 570 — 625 310 Depreciation (387 ) (2 862 ) — (3 250 ) (3 370 ) Disposals 23 1 108 — 1 130 1 734 Disposals through the sale of subsidiaries — — — — 3 Impairment losses (31 ) (114 ) — (145 ) (87 ) Transfer to/(from) other asset categories and other movements¹ (4 ) 84 — 80 499 Balance at end of the period (3 950 ) (20 852 ) — (24 802 ) (23 242 ) Carrying amount at 31 December 2019 8 612 14 743 2 160 25 515 25 515 at 31 December 2020 8 287 14 124 1 780 24 191 — |
Summary of Property, Plant and Equipment Leased (right- of- use assets) | Property, plant and equipment leased by the company (right-of-use 2020 Million US dollar Land and Machinery, Total Net carrying amount at 31 December 1 726 502 2 228 Depreciation for the year ended 31 December (343 ) (156 ) (499 ) 2019 Million US dollar Land and Machinery, Total Net carrying amount at 31 December 1 723 306 2 029 Depreciation for the year ended 31 December (329 ) (160 ) (489 ) |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Reconciliation of Goodwill | Million US dollar 31 December 2020 31 December 2019 Acquisition cost Balance at end of previous year 128 119 133 316 Effect of movements in foreign exchange (4 723 ) 53 Acquisitions through business combinations 185 682 Disposals through the sale of subsidiaries — (22 ) Hyperinflation monetary adjustments 120 171 Reclassified as held for sale — (6 081 ) Balance at end of the period 123 702 128 119 Impairment losses Balance at end of previous year (5 ) (5 ) Effect of movements in foreign exchange (226 ) — Impairment losses (2 500 ) — Balance at end of the period (2 731 ) (5 ) Carrying amount at 31 December 2019 128 114 128 114 at 31 December 2020 120 971 — |
Summary of Weighted Average Cost of Capital | The WACC applied in US dollar nominal terms were as follow: Cash-generating unit 31 December 2020 30 June 2020 1 31 December 2019 Colombia 6 % 6% - 7 % 6 % Rest of Middle Americas 9 % 10% - 11 % 9 % South Africa 7 % 7% - 8 % 7 % Rest of Africa 10 % 10% - 12 % 10 % Rest of Asia Pacific 6 % 8 % — |
Summary of Carrying Amount of Goodwill Allocated to Different Cash-generating Units | The carrying amount of goodwill was allocated to the different cash-generating units as follows: Million US dollar 31 December 2020 31 December 2019 United States 33 552 33 451 Rest of North America 2 105 1 984 Mexico 12 446 13 175 Colombia 17 748 18 647 Rest of Middle Americas 24 036 25 257 Brazil 3 521 4 539 Rest of South America 1 061 1 101 Europe 2 444 2 277 South Africa 11 110 13 500 Rest of Africa 4 990 6 691 China 3 291 3 095 Rest of Asia Pacific 4 059 4 397 Global Export and Holding Companies 608 — Total carrying amount of goodwill 120 971 128 114 1 With the higher WACC applied in the worst case scenario in the interim impairment testing. |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Intangible Assets | 31 December 2020 31 December Million US dollar Brands Commercial Software Other Total Total Acquisition cost Balance at end of previous year 40 074 2 774 2 594 666 46 108 48 465 Effect of movements in foreign exchange (839 ) (6 ) 42 14 (789 ) (79 ) Acquisitions through business combinations 157 — — 5 162 99 Acquisitions and expenditures 35 190 53 279 557 631 Disposals — (23 ) (38 ) (81 ) (142 ) (259 ) Disposals through the sale of subsidiaries — — — — — (29 ) Transfer (to)/from other asset categories and other movements 1 — 96 321 (428 ) (11 ) (2 720 ) Balance at end of period 39 427 3 031 2 972 455 45 885 46 108 Amortization and impairment losses Balance at end of previous year (32 ) (1 595 ) (1 851 ) (178 ) (3 656 ) (3 634 ) Effect of movements in foreign exchange — 12 (29 ) 1 (16 ) 41 Amortization — (297 ) (364 ) (54 ) (715 ) (622 ) Impairment (9 ) (156 ) — — (165 ) — Disposals — 18 35 9 62 254 Disposals through the sale of subsidiaries — — — — — — Transfer to/(from) other asset categories and other movements 1 — (54 ) 28 158 132 305 Balance at end of period (41 ) (2 072 ) (2 181 ) (64 ) (4 358 ) (3 656 ) Carrying value at 31 December 2019 40 042 1 179 743 488 42 452 42 452 at 31 December 2020 39 386 959 791 391 41 527 — |
Summary of Carrying Amount of Intangible Assets with Indefinite Useful Lives | The carrying amount of intangible assets with indefinite useful lives was allocated to the cash-generating units as follows: Million US dollar Cash-generating unit 2020 2019 United States 22 172 22 124 Rest of North America 42 66 Mexico 3 067 3 243 Colombia 3 320 3 488 Rest of Middle Americas 3 655 3 915 Brazil 1 3 Rest of South America 681 714 Europe 461 489 South Africa 3 289 3 417 Rest of Africa 1 068 1 228 China 427 410 Rest of Asia Pacific 1 212 1 120 Total carrying amount of intangible assets with indefinite useful lives 39 395 40 217 |
Investments in associates (Tabl
Investments in associates (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Investments accounted for using equity method [abstract] | |
Summarized Financial Information to Carrying Amount of Company's Interests in Material Associates | A reconciliation of the summarized financial information to the carrying amount of the company’s interests in material associates is as follows: 2020 2019 Million US dollar AB InBev Efes Castel Efes AB InBev Efes Castel Efes Balance at 1 January 1 132 3 239 451 1 159 3 279 479 Effect of movements in foreign exchange — 270 (92 ) — (56 ) (59 ) Dividends received — (19 ) — (15 ) (95 ) (11 ) Share of results of associates 3 76 32 (11 ) 111 42 Balance at 31 December 1 135 3 566 391 1 133 3 239 451 |
Summarized Financial Information of the Company's Material Associates | Summarized financial information of the company’s material associates is as follows: 2020 2019 Million US dollar AB InBev Efes Castel Efes AB InBev Efes Castel Efes Current assets 351 4 048 2 156 377 4 044 2 266 Non-current 603 3 775 4 642 767 4 255 5 618 Current liabilities (591 ) (1 531 ) (1 639 ) (652 ) (1 631 ) (1 859 ) Non-current (75 ) (671 ) (1 852 ) (109 ) (743 ) (1 986 ) Non-controlling — (687 ) (1 627 ) — (723 ) (1 909 ) Net assets 288 4 934 1 679 383 5 201 2 130 Revenue 1 276 4 879 3 847 1 388 5 107 4 015 Profit (loss) (20 ) 700 224 23 719 276 Other comprehensive income (loss) — (134 ) 392 — (372 ) (431 ) Total comprehensive income (loss) (20 ) 566 617 23 347 (155 ) |
Investment securities (Tables)
Investment securities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Investments in Short-Term Debt Securities | Million US dollar 31 December 2020 31 December 2019 Investment in unquoted companies 115 86 Investment on debt securities 22 25 Non-current 137 111 Investment on debt securities 396 91 Current investments 396 91 |
Deferred tax assets and liabi_2
Deferred tax assets and liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Deferred Tax Assets and Liabilities by Type of Temporary Difference | The amount of deferred tax assets and liabilities by type of temporary difference can be detailed as follows: 2020 Million US dollar Assets Liabilities Net Property, plant and equipment 398 (2 487 ) (2 089 ) Intangible assets 106 (10 007 ) (9 901 ) Inventories 86 (65 ) 22 Trade and other receivables 62 — 62 Interest-bearing loans and borrowings 858 (603 ) 255 Employee benefits 648 (8 ) 640 Provisions 525 (30 ) 495 Derivatives 13 (46 ) (33 ) Other items 312 (1 152 ) (840 ) Loss carry forwards 782 — 782 Gross deferred tax assets/(liabilities) 3 790 (14 398 ) (10 607 ) Netting by taxable entity (1 771 ) 1 771 — Net deferred tax assets/(liabilities) 2 019 (12 627 ) (10 607 ) 2019 Million US dollar Assets Liabilities Net Property, plant and equipment 415 (2 550 ) (2 135 ) Intangible assets 112 (10 327 ) (10 215 ) Inventories 119 (67 ) 52 Trade and other receivables 52 (1 ) 51 Interest-bearing loans and borrowings 706 (603 ) 103 Employee benefits 631 (3 ) 628 Provisions 467 (22 ) 445 Derivatives 23 (21 ) 2 Other items 311 (861 ) (550 ) Loss carry forwards 515 — 515 Gross deferred tax assets/(liabilities) 3 350 (14 455 ) (11 105 ) Netting by taxable entity (1 631 ) 1 631 — Net deferred tax assets/(liabilities) 1 719 (12 824 ) (11 105 ) |
Summary of Change in Net Deferred Tax Assets and Liabilities | The change in net deferred taxes recorded in the consolidated statement of financial position can be detailed as follows: Million US dollar 2020 2019 2018 Balance at 1 January (11 105 ) (11 648 ) (11 857 ) Recognized in profit or loss 32 19 95 Recognized in other comprehensive income 361 109 (130 ) Acquisitions through business combinations (6 ) (18 ) (23 ) Reclassified as held for sale (1 ) 363 — Other movements and effect of changes in foreign exchange rates 112 70 267 Balance at 31 December (10 607 ) (11 105 ) (11 648 ) |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Inventories | Million US dollar 31 December 2020 31 December 2019 Prepayments 92 105 Raw materials and consumables 2 499 2 478 Work in progress 439 405 Finished goods 1 256 1 257 Goods purchased for resale 197 182 Inventories 4 482 4 427 Inventories other than work in progress Inventories stated at net realizable value 214 171 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Schedule of Non-Current Trade and Other Receivables | Million US dollar 31 December 2020 31 December 2019 Cash deposits for guarantees 184 219 Loans to customers 25 58 Tax receivable, other than income tax 99 96 Brazilian tax credits and interest receivables 997 70 Trade and other receivables 357 363 Non-current 1 661 807 Trade receivables and accrued income 3 284 4 046 Interest receivables 4 21 Tax receivable, other than income tax 552 821 Loans to customers 117 119 Prepaid expenses 354 563 Other receivables 522 616 Current trade and other receivables 4 833 6 187 |
Schedule of Trade Receivables and Other Receivables | The ageing of the current trade receivables and accrued income, interest receivable, other receivables and current and non-current Net carrying Of which: Of which not impaired as of the reporting date and past due Less than 30 Between Between 60 More than Trade receivables and accrued income 3 285 3 074 155 37 10 8 Loans to customers 142 86 3 2 50 — Interest receivable 4 4 — — — — Other receivables 522 416 2 16 5 83 3 953 3 580 161 55 66 91 Net carrying Of which: Of which not impaired as of the reporting date and past due Less than 30 Between Between 60 More than Trade receivables and accrued income 4 046 3 690 261 44 44 7 Loans to customers 177 172 1 2 2 — Interest receivable 21 21 — — — — Other receivables 616 582 9 16 5 4 4 860 4 465 271 62 51 11 |
Cash and cash equivalents and_2
Cash and cash equivalents and investment securities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Schedule of Cash and Cash Equivalents | Million US dollar 31 December 2020 31 December 2019 Short-term bank deposits 3 319 2 236 Treasury Bills 6 800 — Cash and bank accounts 5 132 5 002 Cash and cash equivalents 15 252 7 238 Bank overdrafts (5 ) (68 ) 15 247 7 169 |
Assets classified as held for_2
Assets classified as held for sale, liabilities associated with assets held for sale and discontinued operations (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Schedule of Assets Held for Sale | ASSETS CLASSIFIED AS HELD FOR SALE Million US dollar 31 December 2020 31 December 2019 Balance at the end of previous year 10 013 39 Reclassified to assets held for sale in the period 210 9 692 Disposals (9 665 ) (59 ) Effect of movements in foreign exchange (484 ) 341 Balance at the end of year 74 10 013 |
Summary of Liabilities Associated With Assets Held for Sale | LIABILITIES ASSOCIATED WITH ASSETS HELD FOR SALE Million US dollar 31 December 2020 31 December 2019 Balance at end of previous year 1 145 — Reclassified to liabilities associated with assets held for sale (46 ) 1 106 Disposals (1 044 ) — Effect of movements in foreign exchange (55 ) 39 Balance at end of the period — 1 145 |
Summary of Assets And Liabilities Of Disposal Groups Held For Sale | Assets and liabilities relating to the Australian operations were classified as held for sale on the consolidated statement of financial position as at 31 December 2019 and disposed of upon the completion of the sale on 1 June 2020. The relevant assets and liabilities are detailed in the table below: Million US dollar 1 June 2020 31 December 2019 Assets Property, plant and equipment 581 625 Goodwill and intangible assets 8 584 9 030 Other assets 371 310 Assets classified as held for sale 9 537 9 965 Liabilities Trade and other payables (581 ) (659 ) Deferred tax liabilities (363 ) (380 ) Other liabilities (101 ) (106 ) Liabilities associated with assets held for sale (1 044 ) (1 145 ) Net assets disposed of 8 493 — Exceptional gain on divestiture of Australia (discontinued operations) 1 919 — Recycling of CTA and cashflow hedges 426 — Consideration received 10 838 — |
Summary of Results From Discontinued Operations | The following table summarizes the results of the Australian operations included in the consolidated income statements and presented as discontinued operations: For the period ended Million US dollar 31 May 2020 31 December 2019 31 December 2018 Revenue 477 1 394 1 577 Profit from operations 178 632 775 Profit from discontinued operations 136 424 531 |
Summary of Cash Flow From Discontinued Operations | Cash flows attributable to the operating, investing and financing activities of the Australian operations are summarized as follows: For the period ended Million US dollar 31 May 2020 31 December 2019 1 31 December 2018 Cash flow from operating activities 84 640 883 Cash flow from investing activities – proceeds from Australia divestiture 10 838 219 — Cash flow from investing activities – other (13 ) (77 ) (109 ) Cash flow from financing activities (6 ) (24 ) (19 ) Net increase in cash and cash equivalents 10 903 758 755 |
Changes in equity and earning_2
Changes in equity and earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Changes in Issued Capital and Treasury Shares | The tables below summarize the changes in issued capital and treasury shares during 2020: Issued capital Issued capital Million shares Million US dollar At the end of the previous year 2 019 1 736 Changes during the period — — 2 019 1 736 Of which: Ordinary shares 1 693 Restricted shares 326 1 The 2019 cash flow from investing activities has been restated to reflect reclassification of the cash flow hedges in relation to the Australia divestiture reported in the financing activities in 2019 and recycled to profit or loss upon the completion of the transaction. Treasury shares Treasury shares Result on the use Million shares Million US dollar Million US dollar At the end of the previous year 59.9 (6 270 ) (2 556 ) Changes during the period (12.9 ) 1 359 (974 ) 47.0 (4 911 ) (3 530 ) |
Summary of Changes in Other Comprehensive Income Reserves | The changes in the other comprehensive income reserves are as follows: Million US dollar Translation Hedging Post-employment Total OCI As per 1 January 2020 (19 936 ) 397 (1 740 ) (21 279 ) Other comprehensive income/(loss) Exchange differences on translation of foreign operations (gains/(losses)) (9 943 ) — — (9 943 ) Cash flow hedges — 198 — 198 Cash flow hedges and cumulative translation adjustments reclassified from equity to profit or loss in relation to Australia divestiture 645 (219 ) — 426 Re-measurements — — (243 ) (243 ) Total comprehensive income/(loss) (9 298 ) (21 ) (243 ) (9 562 ) As per 31 December 2020 (29 234 ) 376 (1 983 ) (30 841 ) The increase in translation reserves is primarily related to the combined effect of the weakening of the closing rates of the Mexican pesos, the South African rand, the Colombian pesos, the Brazilian real and the Peruvian sol, and the strengthening of the Euro which resulted in a foreign exchange translation adjustment of 9 943m US dollar as of 31 December 2020 (decrease of equity). Million US dollar Translation Hedging Post-employment Total OCI As per 1 January 2019 (21 079 ) 494 (1 567 ) (22 152 ) Other comprehensive income/(loss) Exchange differences on translation of foreign operations (gains/(losses)) 1 143 — — 1 143 Cash flow hedges — (97 ) — (97 ) Re-measurements — — (173 ) (173 ) Total comprehensive income/(loss) 1 143 (97 ) (173 ) 873 As per 31 December 2019 (19 936 ) 397 (1 740 ) (21 279 ) Million US dollar Translation Hedging Post-employment Total OCI As per 1 January 2018 (13 705 ) 586 (1 665 ) (14 784 ) Other comprehensive income/(loss) Exchange differences on translation of foreign operations (gains/(losses)) (7 374 ) — — (7 374 ) Cash flow hedges — (92 ) — (92 ) Re-measurements — — 98 98 Total comprehensive income/(loss) (7 374 ) (92 ) 98 (7 368 ) As per 31 December 2018 (21 079 ) 494 (1 567 ) (22 152 ) |
Summary of Basic and Diluted Earnings Per Share | The calculation of basic earnings per share for 2020 is based on the profit attributable to equity holders of AB InBev of 1 405m US dollar (2019: 9 171m US dollar; 2018: 4 370m US dollar) and a weighted average number of ordinary and restricted shares outstanding (including deferred share instruments and stock lending) per end of the period, calculated as follows: Million shares 2020 2019 2018 Issued ordinary and restricted shares at 1 January, net of treasury shares 1 959 1 957 1 934 Effect of stock lending 30 25 18 Effect of undelivered shares under the deferred share instrument — 9 Effect of delivery of treasury shares 9 2 14 Weighted average number of ordinary and restricted shares at 31 December 1 998 1 984 1 975 The calculation of diluted earnings per share for 2020 is based on the profit attributable to equity holders of AB InBev of 1 405m US dollar (2019: 9 171m US dollar; ; 2018: 4 370m US dollar) and a weighted average number of ordinary and restricted shares (diluted) outstanding (including deferred share instruments and stock lending) at the end of the period, calculated as follows: Million shares 2020 2019 2018 Weighted average number of ordinary and restricted shares at 31 December 1 998 1 984 1 975 Effect of share options, warrants and restricted stock units 39 42 36 Weighted average number of ordinary and restricted shares (diluted) at 31 December 2 037 2 026 2 011 The calculation of earnings per share before exceptional items and discontinued operations is based on the profit from continuing operations attributable to equity holders of AB InBev. A reconciliation of the profit before exceptional items and discontinued operations, attributable to equity holders of AB InBev to the profit attributable to equity holders of AB InBev is calculated as follows: Million US dollar 2020 2019 2018 Profit before exceptional items and discontinued operations, attributable to equity holders of AB InBev 3 807 8 086 6 248 Exceptional items, before taxes (refer to Note 8) (3 103 ) (323 ) (692 ) Exceptional finance income/(cost), before taxes (refer to Note 11) (1 738 ) 882 (1 982 ) Exceptional taxes (refer to Note 8) 155 (6 ) 233 Exceptional non-controlling 228 108 32 Profit from discontinued operations (refer to Note 22) 2 055 424 531 Profit attributable to equity holders of AB InBev 1 405 9 171 4 370 The calculation of the Underlying EPS is based on the profit before exceptional items, discontinued operations, mark-to-market mark-to-market Million US dollar 2020 2019 2018 Profit before exceptional items, discontinued operations, mark-to-market 5 022 7 196 8 099 Mark-to-market (1 211 ) 898 (1 774 ) Hyperinflation impacts (4 ) (7 ) (77 ) Profit before exceptional items and discontinued operations, attributable to equity holders of AB InBev 3 807 8 086 6 248 |
Summary of Calculation of EPS | The table below sets out the EPS calculation: Million US dollar 2020 2019 2018 Profit attributable to equity holders of AB InBev 1 405 9 171 4 370 Weighted average number of ordinary and restricted shares 1 998 1 984 1 975 Basic EPS from continuing and discontinued operations 0.70 4.62 2.21 Profit from continuing operations attributable to equity holders of AB InBev (650 ) 8 748 3 839 Weighted average number of ordinary and restricted shares 1 998 1 984 1 975 Basic EPS from continuing operations (0.33 ) 4.41 1.94 Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev 3 807 8 086 6 248 Weighted average number of ordinary and restricted shares 1 998 1 984 1 975 Basic EPS from continuing operations before exceptional items 1.91 4.08 3.16 Profit before exceptional items, discontinued operations, mark-to-market 5 022 7 196 8 099 Weighted average number of ordinary and restricted shares 1 998 1 984 1 975 Underlying EPS 2.51 3.63 4.10 Profit attributable to equity holders of AB InBev 1 405 9 171 4 370 Weighted average number of ordinary and restricted shares (diluted) 2 037 2 026 2 011 Diluted EPS from continuing and discontinued operations 0.69 4.53 2.17 Profit from continuing operations attributable to equity holders of AB InBev (650 ) 8 748 3 839 Weighted average number of ordinary and restricted shares (diluted)¹ 1 998 2 026 2 011 Diluted EPS from continuing operations (0.33 ) 4.32 1.91 Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev 3 807 8 086 6 248 Weighted average number of ordinary and restricted shares (diluted) 2 037 2 026 2 011 Diluted EPS from continuing operations before exceptional items 1.87 3.99 3.11 |
Interest-bearing loans and bo_2
Interest-bearing loans and borrowings (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Interest-bearing Loans and Borrowings | Non-current Million US dollar 31 December 2020 31 December 2019 Secured bank loans 46 71 Unsecured bank loans — 50 Unsecured bond issues 93 523 95 674 Unsecured other loans 73 77 Lease liabilities 1 837 1 692 Non-current 95 478 97 564 Current liabilities Million US dollar 31 December 2020 31 December 2019 Secured bank loans 656 790 Commercial papers 1 522 1 599 Unsecured bank loans 294 135 Unsecured bond issues 202 2 532 Unsecured other loans 10 20 Lease liabilities 397 333 Current interest-bearing loans and borrowings 3 081 5 410 |
Summary of Series of Bonds | On 2 April 2020 and 3 April 2020, Anheuser-Busch InBev NV/SA (ABISA) and Anheuser-Busch InBev Worldwide Inc. (ABIWW) respectively, completed the issuance of the following series of bonds: Issue date Issuer Maturity date Currency Aggregate Interest rate 2 April 2020 ABISA 2 December 2027 EUR 1 000 2.125 % 2 April 2020 ABISA 2 April 2032 EUR 1 750 2.875 % 2 April 2020 ABISA 2 April 2040 EUR 1 750 3.700 % 3 April 2020 ABIWW 1 June 2030 USD 1 750 3.500 % 3 April 2020 ABIWW 1 June 2040 USD 1 000 4.350 % 3 April 2020 ABIWW 1 June 2050 USD 2 250 4.500 % 3 April 2020 ABIWW 1 June 2060 USD 1 000 4.600 % |
Summary of Tender Offers | The total principal amount accepted in the tender offers is set out in the table below: Date of Issuer Title of series of notes issued exchanged Currency Original principal Principal amount Principal amount 7 July 2020 ABISA 4.000% Notes due 2021 EUR 750 231 519 7 July 2020 ABISA 1.950% Notes due 2021 EUR 650 123 527 7 July 2020 ABISA 0.875% Notes due 2022 EUR 2 000 356 1 644 7 July 2020 ABISA 0.800% Notes due 2023 EUR 1 000 356 644 7 July 2020 ABIFI Floating Rate Notes due 2021 USD 311 129 182 7 July 2020 ABIFI 2.625% Notes due 2023 USD 643 167 476 7 July 2020 ABIFI 3.300% Notes due 2023 USD 2 799 1 467 1 332 Date of redemption Issuer Title of series of notes issued exchanged Currency Original principal Principal amount Principal amount 17 September 2020 ABIWW Floating rate notes due 2024 USD 229 113 116 17 September 2020 ABIWW 3.500% Notes due 2024 USD 654 404 250 17 September 2020 ABIFI 3.700% Notes due 2024 USD 865 376 489 17 September 2020 ABISA Floating rate notes due 2024 EUR 1 500 517 983 17 September 2020 ABISA 2.875% Notes due 2024 EUR 750 195 555 17 September 2020 ABISA 1.500% Notes due 2025 EUR 2 500 353 2 147 |
Summary of Redemption in Outstanding Principal Amount of Notes | Date of Issuer Title of series of notes issued exchanged Currency Original principal Principal amount 29 July 2020 ABIWW 3.250% Notes due 2022 AUD 550 550 12 August 2020 ABIWW 4.375% Notes due 2021 USD 285 285 12 August 2020 ABIWW 2.500% Notes due 2022 USD 454 454 12 August 2020 ABIFI 3.375% Notes due 2023 CAD 600 600 12 August 2020 ABNA 3.750% Notes due 2022 USD 150 150 25 September 2020 ABISA 1.750% Notes due 2025 GBP 650 650 8 October 2020 ABIFI 2.600% Notes due 2024 CAD 1 300 1 300 8 October 2020 ABISA 1.950% Notes due 2021 EUR 527 527 8 October 2020 ABISA 0.875% Notes due 2022 EUR 1 644 1 644 3 December 2020 ABISA 4.000% Notes due 2021 EUR 519 519 3 December 2020 ABISA 0.800% Notes due 2023 EUR 644 644 16 December 2020 ABIFI 2.625% Notes due 2023 USD 476 476 16 December 2020 ABIFI 3.300% Notes due 2023 USD 1 332 1 332 16 December 2020 ABIFI 3.700% Notes due 2024 USD 489 489 16 December 2020 ABIWW 3.500% Notes due 2024 USD 250 250 |
Summary of Reconciliation of Net Debt | The following table provides a reconciliation of AB InBev’s net debt as at the dates indicated: Million US dollar 31 December 31 December Non-current 95 478 97 564 Current interest-bearing loans and borrowings 3 081 5 410 Interest-bearing loans and borrowings 98 559 102 974 Bank overdrafts 5 68 Cash and cash equivalents (15 252 ) (7 238 ) Interest bearing loans granted and other deposits (included within Trade and other receivables) (173 ) (146 ) Debt securities (included within Investment securities) (418 ) (117 ) Net debt 82 722 95 542 |
Summary of Changes in the Company's Liabilities Arising from Financing Activities | Million US dollar Long-term debt, net Short-term debt and Balance at 1 January 2020 97 564 5 410 Proceeds from borrowings 11 226 3 596 Payments on borrowings (13 596 ) (9 520 ) Capitalization / (payment) of lease liabilities 394 (484 ) Amortized cost 71 17 Unrealized foreign exchange effects 2 521 241 Current portion of long-term debt (3 744 ) 3 744 Other movements 1 042 77 Balance at 31 December 2020 95 478 3 081 Million US dollar Long-term debt, net Short-term debt and Balance at 1 January 2019 106 997 4 584 Proceeds from borrowings 17 939 4 645 Payments on borrowings (22 339 ) (8 253 ) Capitalization / (payment) of lease liabilities 420 (441 ) Amortized cost 75 13 Unrealized foreign exchange effects (538 ) (39 ) Current portion of long-term debt (4 769 ) 4 769 Liabilities associated with assets held for sale (69 ) (15 ) Other movements (152 ) 147 Balance at 31 December 2019 97 564 5 410 |
Employee benefits (Tables)
Employee benefits (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Statement [LineItems] | |
Summary of Net Liability for Post-Employment and Long-Term Employee Benefit Plans | The company’s net liability for post-employment and long-term employee benefit plans comprises the following as at 31 December 2020 and 2019: Million US dollar 2020 2019 Present value of funded obligations (7 703 ) (7 333 ) Fair value of plan assets 5 649 5 442 Present value of net obligations for funded plans (2 054 ) (1 891 ) Present value of unfunded obligations (793 ) (810 ) Present value of net obligations (2 847 ) (2 701 ) Unrecognized asset (31 ) (74 ) Net liability (2 878 ) (2 775 ) Other long term employee benefits (86 ) (59 ) Total employee benefits (2 964 ) (2 834 ) Employee benefits amounts in the balance sheet: Liabilities (2 970 ) (2 848 ) Assets 6 14 Net liability (2 964 ) (2 834 ) |
Summary of Changes in Unrecognized Assets | The changes in the unrecognized asset are as follows: Million US dollar 2020 2019 2018 Irrecoverable surplus impact at 1 January (74 ) (77 ) (111 ) Interest expense (4 ) (7 ) (10 ) Changes excluding amounts included in interest expense 47 9 44 Irrecoverable surplus impact at 31 December (31 ) (74 ) (77 ) |
Summary of Employee Benefit Expense Recognized in Income Statement | The expense recognized in the income statement with regard to defined benefit plans can be detailed as follows: Million US dollar 2020 2019 2018 Current service costs (72 ) (67 ) (72 ) Administration costs (19 ) (23 ) (14 ) Past service cost due to plan amendments and curtailments 16 66 (3 ) (Losses)/gains due to experience and demographic assumption changes 6 1 3 Profit from operations (69 ) (23 ) (86 ) Net finance cost (87 ) (114 ) (107 ) Total employee benefit expense (156 ) (137 ) (193 ) |
Summary of Employee Benefit Expense Recognized in Income Statement | The employee benefit expense is included in the following line items of the income statement: Million US dollar 2020 2019 2018 Cost of sales (28 ) (17 ) (26 ) Distribution expenses (9 ) (5 ) (11 ) Sales and marketing expenses (18 ) (4 ) (16 ) Administrative expenses (20 ) 3 (28 ) Other operating (expense)/income (1 ) — (6 ) Exceptional 7 — 1 Net finance cost (87 ) (114 ) (107 ) (156 ) (137 ) (193 ) |
Summary of Weighted Average Assumptions used in Computing Benefit Obligations | Weighted average assumptions used in computing the benefit obligations of the company’s significant plans at the balance sheet date are as follows: 2020 Million US dollar United Canada Mexico Brazil United AB InBev Discount rate 2.5 % 2.4 % 6.3 % 6.9 % 1.4 % 2.6 % Price inflation 2.5 % 2.0 % 3.5 % 3.3 % 3.1 % 2.6 % Future salary increases — 1.0 % 4.3 % 6.9%-5.0 % — 3.7 % Future pension increases — 2.0 % 3.5 % 3.3 % 2.9 % 2.6 % Medical cost trend rate 5.5%-4.5 % 4.5 % — 6.9 % — 6.0%-5.7 % Life expectation for a 65 year old male 86 87 82 85 87 85 Life expectation for a 65 year old female 87 90 85 88 89 88 2019 Million US dollar United Canada Mexico Brazil United AB InBev Discount rate 3.3 % 3.1 % 7.5 % 7.2 % 2.0 % 3.3 % Price inflation 2.5 % 2.0 % 3.5 % 3.8 % 3.1 % 2.7 % Future salary increases — 1.0 % 4.3 % 7.4%-5.4 % — 3.8 % Future pension increases — 2.0 % 3.5 % 3.8 % 2.9 % 2.7 % Medical cost trend rate 6.5%-4.5 % 4.5 % — 7.4 % — 6.6%-6.1 % Life expectation for a 65 year old male 85 87 82 85 87 85 Life expectation for a 65 year old female 87 89 85 88 89 87 |
Summary of Sensitivity Analysis of Defined Benefit Obligation for Weighted Principle Assumption | The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is: Million US dollar 2020 Change in assumption Increase in assumption Decrease in assumption Discount rate 0.5 % (552 ) 607 Price inflation 0.5 % 211 (214 ) Future salary increase 0.5 % 36 (33 ) Medical cost trend rate 1 % 38 (33 ) Longevity One year 283 (280 ) |
Summary of Fair Value of Plan Assets | The fair value of plan assets at 31 December consists of the following: 2020 2019 Million US dollar Quoted Unquoted Total Quoted Unquoted Total Government bonds 33 % — 33 % 33 % — 33 % Corporate bonds 34 % — 34 % 35 % — 35 % Equity instruments 25 % — 25 % 23 % — 23 % Property — 3 % 3 % — 4 % 4 % Insurance contracts and others 3 % 2 % 5 % 4 % 1 % 5 % 95 % 5 % 100 % 95 % 5 % 100 % |
Present Value of Defined Benefit Obligation [Member] | |
Statement [LineItems] | |
Summary of Changes in Present Value of Defined Benefit Obligations and Changes in Fair Value of Plan Assets | The changes in the present value of the defined benefit obligations are as follows: Million US dollar 2020 2019 2018 Defined benefit obligation at 1 January (8 143 ) (7 568 ) (8 410 ) Current service costs (72 ) (67 ) (72 ) Interest cost (250 ) (326 ) (322 ) Past service gain/(cost) 16 (9 ) (3 ) Settlements 153 109 45 Benefits paid 519 596 493 Contribution by plan participants (2 ) (2 ) (3 ) Actuarial gains/(losses) – demographic assumptions 20 61 27 Actuarial gains/(losses) – financial assumptions (690 ) (912 ) 350 Experience adjustments (12 ) 29 14 Exchange differences (35 ) (86 ) 313 Transfers and other movements — 32 — Defined benefit obligation at 31 December (8 496 ) (8 143 ) (7 568 ) |
Plan Assets [Member] | |
Statement [LineItems] | |
Summary of Changes in Present Value of Defined Benefit Obligations and Changes in Fair Value of Plan Assets | The changes in the fair value of plan assets are as follows: Million US dollar 2020 2019 2018 Fair value of plan assets at 1 January 5 442 5 059 5 623 Interest income 168 218 225 Administration costs (19 ) (23 ) (14 ) Return on plan assets exceeding interest income 332 579 (333 ) Contributions by AB InBev 394 294 307 Contributions by plan participants 2 2 3 Benefits paid net of administration costs (519 ) (596 ) (493 ) Assets distributed on settlements (146 ) (107 ) (45 ) Exchange differences (9 ) 46 (214 ) Transfers and other movements 4 (30 ) — Fair value of plan assets at 31 December 5 649 5 442 5 059 |
Share-based payments (Tables)
Share-based payments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Statement [LineItems] | |
Summary of Weighted Average Fair Value of Options and Assumptions | The weighted average fair value of the options and assumptions used in applying the AB InBev option pricing model for the 2020, 2019 and 2018 grants of awards described above are as follows: Amounts in US dollar unless otherwise indicated 2020 2019 2018 Fair value of options granted 7.54 11.79 16.92 Share price 46.35 78.46 98.66 Exercise price 46.35 78.46 98.66 Expected volatility 25 % 23 % 23 % Expected dividends 3.00 % 3.00 % 3.00 % Risk-free interest rate -0.32 % 0.43 % 0.39 % |
Summary of Number of Options Outstanding | The total number of outstanding AB InBev options developed as follows: Million options 2020 2019 2018 Options outstanding at 1 January 88.7 92.6 93.0 Options issued during the year 38.1 13.8 5.2 Options exercised during the year (3.9 ) (10.7 ) (1.7 ) Options forfeited during the year (9.0 ) (7.0 ) (4.0 ) Options outstanding at the end of December 113.3 88.7 92.6 |
Summary of Weighted Average Exercise Price of Options | The weighted average exercise price of the AB InBev options is as follows: Amounts in US dollar 2020 2019 2018 Options outstanding at 1 January 79.66 94.74 98.32 Granted during the year 53.41 83.33 104.77 Exercised during the year 29.92 29.27 44.96 Forfeited during the year 117.82 108.44 113.19 Outstanding at the end of December 71.22 79.66 94.74 Exercisable at the end of December 99.54 65.33 21.40 |
AB inBev [member] | Restricted Stock Units [member] | |
Statement [LineItems] | |
Summary of Number of Outstanding Deferred and Restricted stock Units | The total number of outstanding AB InBev restricted stock units developed as follows: Million restricted stock units 2020 2019 2018 Restricted stock units outstanding at 1 January 9.9 6.0 5.4 Restricted stock units issued during the year 10.9 5.5 2.3 Restricted stock units exercised during the year (0.7 ) (1.0 ) (0.5 ) Restricted stock units forfeited during the year (0.9 ) (0.7 ) (1.2 ) Restricted stock units outstanding at the end of December 19.1 9.9 6.0 |
Ambev [member] | |
Statement [LineItems] | |
Summary of Weighted Average Fair Value of Options and Assumptions | The weighted fair value of the options and assumptions used in applying a binomial option pricing model for the 2020 Ambev grants are as follows: Amounts in US dollar unless otherwise indicated 1 2020 2019 2018 Fair value of options granted 0.78 1.12 1.47 Share price 3.47 4.38 4.66 Exercise price 3.47 4.38 4.66 Expected volatility 22 % 24 % 26 % Expected dividends 0.00% - 5.00 % 0.00% - 5.00 % 0.00% - 5.00 % Risk-free interest rate 6.8 % 7.8 % 9.6 % 1 Amounts have been converted to US dollar at the closing rate of the respective period. |
Summary of Number of Options Outstanding | The total number of outstanding Ambev options developed as follows: Million options 2020 2019 2018 Options outstanding at 1 January 141.8 141.3 135.2 Options issued during the year — 24.6 19.9 Options exercised during the year (5.7 ) (7.8 ) (10.0 ) Options forfeited during the year (8.8 ) (16.3 ) (3.8 ) Options outstanding at the end of December 127.3 141.8 141.3 |
Summary of Weighted Average Exercise Price of Options | The weighted average exercise price of the Ambev options is as follows: Amounts in US dollar 2020 2019 2018 Options outstanding at 1 January 4.60 4.17 3.94 Granted during the year 3.47 4.48 4.66 Exercised during the year 1.60 2.25 1.93 Forfeited during the year 4.42 5.27 4.79 Outstanding at the end of December 3.81 4.60 4.17 Exercisable at the end of December 4.56 4.74 0.58 |
Ambev [member] | Restricted Stock Units [member] | |
Statement [LineItems] | |
Summary of Number of Outstanding Deferred and Restricted stock Units | The total number of outstanding Ambev deferred and restricted stock units developed as follows: Million restricted stock units 2020 2019 2018 Restricted stock units outstanding at 1 January 31.7 25.0 16.3 Restricted stock units issued during the year 21.3 12.0 13.5 Restricted stock units vested during the year (1.9 ) (4.2 ) (3.7 ) Restricted stock units forfeited during the year (1.5 ) (1.1 ) (1.1 ) Restricted stock units outstanding at the end of December 49.6 31.7 25.0 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Provisions by Class | Million US dollar Restructuring Disputes Other Total Balance at 1 January 2020 103 436 372 911 Effect of movements in foreign exchange 8 (40 ) (24 ) (56 ) Provisions made 55 102 107 264 Provisions used (54 ) (80 ) (91 ) (225 ) Provisions reversed (7 ) (24 ) (1 ) (32 ) Other movements (1 ) 95 (193 ) (99 ) Balance at 31 December 2020 104 489 170 763 Million US dollar Restructuring Disputes Other Total Balance at 1 January 2019 130 1 077 711 1 918 Effect of movements in foreign exchange (2 ) (13 ) — (15 ) Provisions made 69 234 2 305 Provisions used (78 ) (128 ) (293 ) (499 ) Provisions reversed (16 ) (92 ) (38 ) (146 ) Other movements — (642 ) (10 ) (552 ) Balance at 31 December 2019 103 436 372 911 |
Summary of Provisions are Expected to Be Settled Within the Following Time Windows | The provisions are expected to be settled within the following time windows: Million US dollar Total < 1 year 1-2 years 2-5 years > 5 years Restructuring 104 54 15 14 21 Indirect taxes 109 8 55 1 45 Labor 125 15 26 74 10 Commercial 31 9 14 6 2 Environmental 5 5 — — — Excise duties 24 — 17 7 — Other disputes 195 46 134 15 — Disputes 489 83 246 103 57 Other provisions 170 82 84 4 — Total provisions 763 219 345 121 78 |
Trade and other payables (Table
Trade and other payables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Trade and Other Payables | Million US dollar 31 December 2020 31 December 2019 Indirect taxes payable 252 174 Trade payables 98 237 Deferred consideration on acquisitions 1 082 1 418 Other payables 90 113 Non-current 1 522 1 943 Trade payables and accrued expenses 15 898 15 876 Payroll and social security payables 800 736 Indirect taxes payable 2 629 2 708 Interest payable 1 625 1 679 Consigned packaging 1 010 1 106 Dividends payable 427 338 Deferred income 27 21 Deferred consideration on acquisitions 301 221 Other payables 249 179 Current trade and other payables 22 965 22 864 |
Risks arising from financial _2
Risks arising from financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Financial Assets And Financial Liabilities | Set out below is an overview of financial assets 1 31 December 2020 31 December 2019 Million US dollar At At fair At fair Total At At fair At fair Total Trade and other receivables 4 493 — — 4 493 5 444 — — 5 444 Unquoted debt (debt instruments) 22 — — 22 25 — — 25 Quoted debt (debt instruments) — 396 — 396 — 91 — 91 Unquoted companies (equity instruments) — — 115 115 — — 85 85 Derivatives not designated in hedge accounting relationships: Equity swaps — 27 — 27 — 17 — 17 Interest rate swaps — 45 — 45 — 18 — 18 Cross currency interest rate swaps — 7 — 7 — 102 — 102 Derivatives designated in hedge accounting relationships: Foreign exchange forward contracts — — 480 480 — — 112 112 Foreign currency futures — — 36 36 — — 7 7 Interest rate swaps — — 35 35 — — — — Cross currency interest rate swaps — — 100 100 — — 55 55 Commodities — — 235 235 — — 52 52 Financial assets 4 515 474 1 001 5 991 5 469 229 311 6 009 Non-current 588 79 174 841 664 136 81 881 Current 3 928 396 827 5 150 4 803 93 230 5 126 Trade and other payables 20 807 — — 20 807 21 187 — — 21 187 Interest-bearing loans and borrowings: Secured bank loans 702 — — 702 861 — — 861 Unsecured bank loans 294 — — 294 185 — — 185 Unsecured bond issues 93 725 — — 93 725 98 206 — — 98 206 Unsecured other loans 83 — — 83 97 — — 97 Commercial paper 1 522 — — 1 522 1 599 — — 1 599 Bank overdrafts 5 — — 5 68 — — 68 Lease liabilities 2 234 — — 2 234 2 026 — — 2 026 Derivatives not designated in hedge accounting relationships: Equity swaps — 5 353 — 5 353 — 3 146 — 3 146 Cross currency interest rate swaps — 446 — 446 — 140 — 140 Other derivatives — 321 — 321 — 156 — 156 Derivatives designated in hedge accounting relationships: Foreign exchange forward contracts — — 370 370 — — 435 435 Cross currency interest rate swaps — — 264 264 — — 35 35 Interest rate swaps — — — — — — 4 4 Commodities — — 26 26 — — 97 97 Equity swaps — — 21 21 — — 31 31 Other derivatives — — 5 5 — — 107 107 Financial liabilities 119 372 6 119 685 126 176 124 228 3 442 709 128 379 Non-current 96 748 1 758 — 98 506 99 335 349 — 99 684 Current 22 623 4 361 685 27 670 24 895 3 092 709 28 696 1 Cash and short-term deposits are not included in this overview. |
Summary of Notional Amounts of Derivatives Outstanding at Year-end by Maturity Bucket | The table below provides an overview of the notional amounts of derivatives outstanding as at the dates indicated by maturity bucket. 31 December 2020 31 December 2019 Million US dollar < 1 year 1-2 years 2-3 years 3-5 years > 5 years < 1 year 1-2 years 2-3 years 3-5 years > 5 years Foreign currency Forward exchange contracts 18 505 290 — — — 21 216 36 — — — Foreign currency futures 2 218 — — — — 1 359 723 — — — Interest rate Interest rate swaps — 1 500 1 000 — — 750 — 1 500 1 000 — Cross currency interest rate swaps 513 5 658 1 400 1 866 789 15 513 5 445 500 668 Other interest rate derivatives — — — — — — — — — 565 Commodities Aluminum swaps 1 184 — — — — 1 411 22 — — — Other commodity derivatives 644 — — — — 771 20 — — — Equity Equity derivatives 10 234 2 326 — — — 11 638 — — — — |
Summary of Foreign Exchange Risk on Operating Activities | The second currency of the currency pairs listed is the functional currency of the related subsidiary. 31 December 2020 31 December 2019 Total Total Open Total Total Open Million US dollar exposure hedges position exposure hedges position Euro/Canadian dollar (9 ) 9 — (52 ) 39 (13 ) Euro/Mexican peso (106 ) 102 (4 ) (151 ) 156 5 Euro/Pound sterling (203 ) 130 (73 ) (126 ) 124 (2 ) Euro/South African rand (95 ) 65 (30 ) (99 ) 95 (4 ) Euro/South Korean won (40 ) 38 (2 ) (49 ) 46 (3 ) Euro/US dollar (354 ) 284 (70 ) (409 ) 337 (72 ) Mexican peso/Euro (249 ) 146 (103 ) (178 ) 161 (17 ) Pound sterling/Euro (35 ) 36 1 (39 ) 40 1 US dollar/Argentinian peso (602 ) 543 (59 ) (531 ) 510 (21 ) US dollar/Australian dollar — — — (216 ) 204 (12 ) US dollar/Bolivian boliviano (64 ) 56 (8 ) (69 ) 70 1 US dollar/Brazilian real (1 573 ) 1 577 4 (1 443 ) 1 447 4 US dollar/Canadian dollar (302 ) 194 (108 ) (287 ) 295 8 US dollar/Chilean peso (151 ) 129 (22 ) (109 ) 102 (7 ) US dollar/Chinese yuan (171 ) 201 30 (230 ) 191 (39 ) US dollar/Colombian peso (359 ) 352 (7 ) (278 ) 272 (6 ) US dollar/Euro (98 ) 96 (2 ) (108 ) 113 5 US dollar/Mexican peso (1 032 ) 995 (37 ) (1 105 ) 903 (202 ) US dollar/Paraguayan guarani (132 ) 125 (7 ) (124 ) 130 6 US dollar/Peruvian nuevo sol (225 ) 168 (57 ) (243 ) 205 (38 ) US dollar/South African rand (130 ) 116 (14 ) (28 ) 31 3 US dollar/South Korean won (71 ) 70 (1 ) (88 ) 99 11 US dollar/Uruguayan peso (40 ) 39 (1 ) (41 ) 41 — Others (260 ) 131 (129 ) (317 ) 250 (67 ) |
Summary of Currency Transactional Risk | AB InBev estimated the reasonably possible change of exchange rate, on the basis of the average volatility on the open currency pairs, as follows: 2020 Closing rate Possible 1 Volatility Euro/Mexican peso 24.48 19.38 - 29.58 20.83 % Euro/Pound sterling 0.90 0.82 - 0.98 9.09 % Euro/South Korean won 1 335.11 1 218.41 - 1 451.81 8.74 % Euro/US dollar 1.23 1.13 - 1.32 7.75 % Pound sterling/US dollar 1.36 1.22 - 1.51 10.79 % US dollar/Argentinian peso 84.14 74.55 - 93.73 11.40 % US dollar/Brazilian real 5.20 4.13 - 6.26 20.51 % US dollar/Chinese yuan 6.54 6.25 - 6.82 4.34 % US dollar/Colombian peso 3 438.52 2 908.55 - 3 968.50 15.41 % US dollar/Euro 0.81 0.75 - 0.88 7.75 % US dollar/Mexican peso 19.95 16.19 - 23.71 18.83 % US dollar/Nigerian naira 397.72 345.23 - 450.21 13.20 % US dollar/Peruvian nuevo sol 3.62 3.37 - 3.87 6.95 % US dollar/South African rand 14.69 12.19 - 17.18 16.99 % US dollar/South Korean won 1 088.02 1 000.21 - 1 175.84 8.07 % US dollar/Tanzanian shilling 2 321.74 2 205.30 - 2 438.18 5.02 % US dollar/Zambian kwacha 21.16 18.44 - 23.89 12.89 % 2019 Closing rate Possible 2 Volatility Euro/Mexican peso 21.17 19.28 - 23.06 8.92 % Euro/Pound sterling 0.85 0.79 - 0.91 7.35 % Euro/South Korean won 1 297.02 1 216.94 - 1 377.1 6.17 % Euro/US dollar 1.12 1.07 - 1.18 4.69 % Pound sterling/US dollar 1.32 1.21 - 1.43 8.08 % US dollar/Australian dollar 1.42 1.33 - 1.52 6.70 % US dollar/Argentinian peso 59.89 45.55 - 74.23 23.94 % US dollar/Brazilian real 4.03 3.54 - 4.52 12.23 % US dollar/Chinese yuan 6.96 6.62 - 7.30 4.86 % US dollar/Colombian peso 3 272.63 2 935.33 - 3 609.92 10.31 % US dollar/Euro 0.89 0.85 - 0.93 4.69 % US dollar/Mexican peso 18.85 17.25 - 20.44 8.48 % US dollar/Nigerian naira 362.59 350.58 - 374.60 3.31 % US dollar/Peruvian nuevo sol 3.32 3.17 - 3.47 4.50 % US dollar/South African rand 14.04 12.26 - 15.83 12.74 % US dollar/South Korean won 1 154.55 1 064.67 - 1 244.42 7.78 % US dollar/Tanzanian shilling 2 300.14 2 186.57 - 2 413.71 4.94 % US dollar/Zambian kwacha 14.02 11.24 - 16.81 19.85 % |
Summary of Foreign Exchange Results Recognized on Unhedged and Hedged Exposures | Million US dollar 2020 2019 2018 restated Economic hedges (181 ) 6 (210 ) Other results - not hedged 195 (186 ) 230 43 (180 ) 19 |
Summary of Effective Interest Rates at Balance Sheet | Before hedging After hedging 31 December 2020 Interest-bearing financial liabilities Million US dollar Effective Amount Effective Amount Floating rate Australian dollar 0.99 % 231 — — Brazilian real 3.90 % 164 3.90 % 164 Canadian dollar — — 1.23 % 1 895 Euro 0.15 % 2 690 0.15 % 2 690 Pound sterling — — 1.10 % 937 US dollar 1.05 % 617 1.13 % 201 Other 7.30 % 260 7.90 % 573 3 962 6 461 Fixed rate Australian dollar 3.91 % 846 — — Brazilian real 8.58 % 578 8.58 % 578 Canadian dollar 4.12 % 613 4.29 % 2 646 Euro 2.12 % 26 092 2.15 % 35 515 Pound sterling 4.30 % 3 655 4.36 % 2 973 South Korean won — — 1.30 % 1 997 US dollar 4.91 % 62 340 5.30 % 47 892 Other 11.96 % 479 11.72 % 502 94 602 92 103 Before hedging After hedging 31 December 2019 Interest-bearing financial liabilities Million US dollar Effective Amount Effective Amount Floating rate Australian dollar 1.87 % 210 1.87 % 210 Brazilian real 9.33 % 43 9.33 % 43 Euro 0.08 % 4 214 0.08 % 4 214 US dollar 2.36 % 1 749 2.85 % 4 269 Other 9.82 % 225 4.46 % 954 6 441 9 690 Fixed rate Australian dollar 3.71 % 1 647 3.71 % 1 647 Brazilian real 9.00 % 544 9.00 % 544 Canadian dollar 3.16 % 2 055 3.16 % 2 055 Euro 1.82 % 25 346 1.82 % 29 338 Pound sterling 3.82 % 4 373 3.79 % 3 713 South Korean won 3.37 % 15 2.46 % 1 015 US dollar 4.83 % 62 205 5.02 % 54 551 Other 7.31 % 416 6.95 % 489 96 601 93 352 |
Summary of Floating Rate Debt after Hedging | The company estimated that the reasonably possible change of the market interest rates applicable to its floating rate debt after hedging is as follows: 2020 Interest rate Possible 2 Volatility Brazilian real 2.09 % 1.74% - 2.44% 16.77 % Euro — — 16.83 % US dollar 0.24 % 0.10% - 0.38% 58.30 % 2019 Interest rate Possible 2 Volatility Brazilian real 4.42 % 3.32% - 5.52% 24.88 % Euro — — 6.43 % US dollar 1.91 % 1.51% - 2.30% 20.66 % |
Summary of Interest Expense Recognized on Unhedged and Hedged Financial Liabilities | Interest expense recognized on unhedged and hedged financial liabilities are as follows: Million US dollar 2020 2019 2018 restated Financial liabilities measured at amortized cost – not hedged (4 154 ) (4 264 ) (4 053 ) Fair value hedges (1 ) (46 ) (76 ) Cash flow hedges 19 15 21 Net investment hedges - hedging instruments (interest component) 2 2 35 Economic hedges 118 124 100 (4 016 ) (4 168 ) (3 973 ) |
Schedule of Commodity Derivatives Outstanding | The most significant commodity exposures as at 31 December 2020 and 31 December 2019 are included in the table below (expressed in outstanding notional amounts): Million US dollar 31 December 2020 31 December 2019 Aluminum swaps 1 184 1 433 Exchange traded sugar futures 74 54 Natural gas and energy derivatives 202 255 Corn swaps 160 195 Exchange traded wheat futures 83 20 Rice swaps 76 209 Plastic derivatives 50 59 1 828 2 224 1 Applicable 3-month 2 Sensitivity analysis is assessed based on the yearly volatility using daily observable market data during 250 days at 31 December 2020 and at December 2019. For the Brazilian real floating rate debt, the estimated market interest rate is composed of the InterBank Deposit Certificate (‘CDI’) and the Long-Term Interest Rate (‘TJLP’). With regard to other market interest rates, the company’s analysis is based on the 3-month |
Summary of Estimated Impact on Changes in the Price of Commodities | The tables below show the estimated impact that changes in the price of the commodities, for which AB InBev held material derivative exposures as at 31 December 2020 and 31 December 2019, would have on the equity reserves. 2020 Pre-tax impact on equity Million US dollar Volatility of 1 Prices Prices Aluminum 14.96 % 177 (177 ) Sugar 31.48 % 23 (23 ) Energy 47.08 % 95 (95 ) Corn 32.84 % 52 (52 ) Wheat 25.30 % 21 (21 ) Rice 46.17 % 35 (35 ) Plastic 26.74 % 13 (13 ) 2019 Pre-tax impact on equity Million US dollar Volatility of 2 Prices Prices Aluminum 21.78 % 312 (312 ) Sugar 29.73 % 16 (16 ) Energy 25.86 % 66 (66 ) Corn 21.74 % 42 (42 ) Wheat 30.30 % 6 (6 ) Rice 22.64 % 47 (47 ) Plastic 24.03 % 14 (14 ) |
Summary of Carrying Amount of Financial Assets | The carrying amount of financial assets represents the maximum credit exposure of the company. The carrying amount is presented net of the impairment losses recognized. The maximum exposure to credit risk at the reporting date was: 31 December 2020 31 December 2019 Million US dollar Gross Impairment Net carrying Gross Impairment Net carrying Investment in unquoted companies 121 (6 ) 115 92 (7 ) 85 Investment in debt securities 418 — 418 117 — 117 Trade receivables 3 593 (308 ) 3 285 4 219 (173 ) 4 046 Cash deposits for guarantees 184 — 184 219 — 219 Loans to customers 142 — 142 177 — 177 Other receivables 1 299 (62 ) 1 237 1 666 (103 ) 1 563 Derivatives 965 — 965 362 — 362 Cash and cash equivalents 15 252 — 15 252 7 238 — 7 238 21 974 (376 ) 21 598 14 090 (283 ) 13 807 |
Summary of Allowance for Impairment | The allowance for impairment recognized during the period per classes of financial assets was as follows: 2020 Million US dollar Trade receivables FVOCI Other Total Balance at 1 January (173 ) (6 ) (103 ) (283 ) Impairment losses (93 ) — (6 ) (99 ) Derecognition 7 — 42 49 Currency translation and other (50 ) — 4 (46 ) Balance at 31 December (308 ) (6 ) (62 ) (376 ) 2019 Million US dollar Trade receivables FVOCI Other Total Balance at 1 January (160 ) (7 ) (106 ) (273 ) Impairment losses (51 ) — (30 ) (81 ) Derecognition 26 — 31 57 Currency translation and other 12 — 2 14 Balance at 31 December (173 ) (7 ) (103 ) (283 ) 2018 Million US dollar Trade receivables FVOCI Other Total Balance at 1 January (194 ) (7 ) (117 ) (318 ) Impairment losses (40 ) — (3 ) (43 ) Derecognition 29 — 6 35 Currency translation and other 44 — 9 53 Balance at 31 December (160 ) (7 ) (106 ) (273 ) |
Summary of Nominal Contractual Maturities of Non-Derivative Financial Liabilities | The following are the nominal contractual maturities of non-derivative 31 December 2020 Million US dollar Carrying 1 Contractual Less than 1-2 2-3 3-5 More than Non-derivative Secured bank loans (702 ) (735 ) (675 ) (14 ) (12 ) (10 ) (24 ) Commercial papers (1 522 ) (1 522 ) (1 522 ) — — — — Unsecured bank loans (294 ) (299 ) (299 ) — — — — Unsecured bond issues (93 725 ) (165 812 ) (3 582 ) (4 057 ) (3 823 ) (16 557 ) (137 793 ) Unsecured other loans (83 ) (115 ) (13 ) (8 ) (6 ) (57 ) (31 ) Lease liabilities (2 234 ) (2 455 ) (460 ) (425 ) (315 ) (424 ) (831 ) Bank overdraft (5 ) (5 ) (5 ) — — — — Trade and other payables (24 496 ) (24 688 ) (22 (1 (135 ) (197 ) (347 ) (123 061 ) (195 631 ) (29 462 ) (5 607 ) (4 291 ) (17 245 ) (139 026 ) Derivative financial liabilities Interest rate derivatives — — — — — — — Foreign exchange derivatives (696 ) (696 ) (696 ) — — — — Cross currency interest rate swaps (709 ) (852 ) (8 ) (575 ) (98 ) (132 ) (39 ) Commodity derivatives (26 ) (26 ) (26 ) — — — — Equity derivatives (5 373 ) (5 372 ) (4 455 ) (917 ) — — — (6 803 ) (6 901 ) (5 159 ) (1 (98 ) (132 ) (39 ) Of which: related to cash flow hedges (418 ) (418 ) (353 ) — — (65 ) — 31 December 2019 Million US dollar Carrying 1 Contractual Less than 1-2 years 2-3 years 3-5 years More than Non-derivative Secured bank loans (861 ) (890 ) (795 ) (18 ) (18 ) (22 ) (37 ) Commercial papers (1 599 ) (1 599 ) (1 599 ) — — — — Unsecured bank loans (185 ) (188 ) (140 ) (47 ) (1 ) — — Unsecured bond issues (98 206 ) (165 424 ) (5 513 ) (6 415 ) (6 518 ) (18 605 ) (128 373 ) Unsecured other loans (98 ) (131 ) (27 ) (17 ) (9 ) (5 ) (73 ) Lease liabilities (2 025 ) (2 338 ) (404 ) (350 ) (243 ) (285 ) (1 056 ) Bank overdraft (68 ) (68 ) (68 ) — — — — Trade and other payables (24 806 ) (25 152 ) (22 861 ) (1 227 ) (472 ) (165 ) (427 ) (127 848 ) (195 790 ) (31 407 ) (8 074 ) (7 261 ) (19 082 ) (129 966 ) Derivative financial liabilities Interest rate derivatives (102 ) (103 ) (7 ) (1 ) (1 ) 3 (97 ) Foreign exchange derivatives (600 ) (600 ) (600 ) — — — — Cross currency interest rate swaps (175 ) (187 ) 75 (285 ) 6 75 (58 ) Commodity derivatives (97 ) (97 ) (97 ) — — — — Equity derivatives (3 177 ) (3 177 ) (3 177 ) — — — — (4 151 ) (4 164 ) (3 806 ) (286 ) 5 78 (155 ) Of which: related to cash flow hedges (448 ) (448 ) (408 ) 5 3 5 (53 ) 1 “Carrying amount” refers to net book value as recognized in the balance sheet at each reporting date. |
Summary for Each Type of Derivative Fair Value Recognized as Assets and Lliabilities | The following table summarizes for each type of derivative the fair values recognized as assets or liabilities in the balance sheet: Assets Liabilities Net Million US dollar 31 December 31 December 31 December 31 December 31 December 31 December Foreign currency Forward exchange contracts 480 112 (691 ) (590 ) (211 ) (478 ) Foreign currency futures 36 7 (5 ) (9 ) 31 (2 ) Interest rate Interest rate swaps 80 18 — (6 ) 80 12 Cross currency interest rate swaps 107 157 (709 ) (175 ) (602 ) (18 ) Other interest rate derivatives — — — (97 ) — (97 ) Commodities Aluminum swaps 170 15 (10 ) (61 ) 160 (46 ) Sugar futures 10 2 — (2 ) 10 — Wheat futures — 14 (1 ) (9 ) (1 ) 5 Energy 9 8 (7 ) (11 ) 2 (3 ) Other commodity derivatives 46 13 (8 ) (14 ) 38 (1 ) Equity Equity derivatives 27 17 (5 373 ) (3 177 ) (5 346 ) (3 160 ) 965 362 (6 804 ) (4 151 ) (5 839 ) (3 789 ) Of which: Non-current 138 132 (1 759 ) (352 ) (1 621 ) (220 ) Current 827 230 (5 046 ) (3 799 ) (4 218 ) (3 569 ) |
Summary of Carrying Amount of Fixed Rate Interest-Bearing Financial Liabilities and Fair Value | The following table summarizes the carrying amount and the fair value of the fixed rate interest-bearing financial liabilities as recognized on the balance sheet. Floating rate interest-bearing financial liabilities, trade and other receivables and trade and other payables, including derivatives financial instruments, have been excluded from the analysis as their carrying amount is a reasonable approximation of their fair value: Interest-bearing financial liabilities 31 December 2020 31 December 2019 Million US dollar Carrying amount 1 Fair value Carrying amount 1 Fair value Fixed rate Australian dollar (846 ) (964 ) (1 647 ) (1 748 ) Brazilian real (578 ) (578 ) (544 ) (542 ) Canadian dollar (613 ) (633 ) (2 055 ) (2 046 ) Euro (26 093 ) (29 809 ) (25 346 ) (30 365 ) Pound sterling (3 655 ) (4 301 ) (4 373 ) (4 816 ) US dollar (62 340 ) (81 771 ) (62 205 ) (74 035 ) Other (479 ) (480 ) (431 ) (431 ) (94 604 ) (118 536 ) (96 601 ) (113 983 ) 1 “Carrying amount” refers to net book value as recognized in the balance sheet at each reporting date. |
Analysis of Financial Instruments | The table sets out the fair value hierarchy based on the degree to which significant market inputs are observable: Fair value hierarchy 31 December 2020 Million US dollar Quoted (unadjusted) Observable market Unobservable market Financial Assets Held for trading (non-derivatives) — 11 — Derivatives at fair value through profit and loss — 457 — Derivatives in a cash flow hedge relationship 29 343 — Derivatives in a fair value hedge relationship — 80 — Derivatives in a net investment hedge relationship — 57 — 29 948 — Financial Liabilities Deferred consideration on acquisitions at fair value — — 1 251 Derivatives at fair value through profit and loss — 6 119 — Derivatives in a cash flow hedge relationship 46 353 — Derivatives in a net investment hedge relationship — 287 — 46 6 759 1 251 Fair value hierarchy 31 December 2019 Million US dollar Quoted (unadjusted) Observable market Unobservable market Financial Assets Held for trading (non-derivatives) 2 9 — Derivatives at fair value through profit and loss — 119 — Derivatives in a cash flow hedge relationship 17 153 — Derivatives in a fair value hedge relationship — 19 — Derivatives in a net investment hedge relationship — 54 — 19 354 — Financial Liabilities Deferred consideration on acquisitions at fair value — — 1 639 Derivatives at fair value through profit and loss — 3 441 — Derivatives in a cash flow hedge relationship 21 586 — Derivatives in a fair value hedge relationship — 103 — 21 4 130 1 639 |
Summary of Hedging Reserve and Hedging Instruments | The company’s hedging reserves disclosed in Note 23 relate to the following instruments: Million US dollar Foreign Commodities Others Total As per 1 January 2020 174 117 107 397 Change in fair value of hedging instrument recognized in OCI 353 31 — 384 Reclassified to profit or loss / cost of inventory (507 ) 126 (23 ) (404 ) As per 31 December 2020 20 274 84 376 Million US dollar Foreign Commodities Others Total As per 1 January 2019 480 (60 ) 76 494 Change in fair value of hedging instrument recognized in OCI 92 16 — 107 Reclassified to profit or loss / cost of inventory (398 ) 162 32 (204 ) As per 31 December 2019 174 117 107 397 |
Summary of Offsetting Financial Assets and Liabilities | The following financial assets and liabilities are subject to offsetting, enforceable master netting agreements and similar agreements: 31 December 2020 Million US dollar Gross Net amount 1 Other offsetting 2 Total net amount Derivative assets 965 965 (954 ) 11 Derivative liabilities (6 804 ) (6 804 ) 954 (5 851 ) 31 December 2019 Million US dollar Gross Net amount 1 Other offsetting 2 Total net amount Derivative assets 362 362 (352 ) 10 Derivative liabilities (4 151 ) (4 151 ) 352 (3 799 ) |
Operating leases (Tables)
Operating leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of maturity analysis of the non-cancelable lease payments | The following table sets out the maturity analysis of the non-cancelable Million US dollar 31 December 2020 31 December 2019 31 December 2018 Within one year 157 155 152 Between one and five years 405 518 460 After five years 361 215 217 Total 923 888 829 |
Collateral and contractual co_2
Collateral and contractual commitments for the acquisition of property, plant and equipment, loans to customers and other (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Collateral and Contractual Commitments for Acquisition of Property, Plant And Equipment, Loans to Customers and Other | Million US dollar 31 December 2020 31 December 2019 Collateral given for own liabilities 391 372 Contractual commitments to purchase property, plant and equipment 528 457 Contractual commitments to acquire loans to customers 150 151 Other commitments 1 953 1 911 |
Contingencies (Tables)
Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Ab Inbev's Material Tax Proceedings Related to Ambev and Its Subsidiaries | As of 31 December 2020, AB InBev’s material tax proceedings are related to Ambev and its subsidiaries. Estimates of amounts of possible loss are as follows: Million US dollar 31 December 2020 31 December 2019 Income tax and social contribution 10 372 10 781 Value-added and excise taxes 4 483 5 514 Other taxes 727 1 018 15 582 17 313 |
Non-controlling interests (Tabl
Non-controlling interests (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Financial Information of Material Non-Controlling Interest | Summarized financial information of Ambev and Budweiser APAC, in which the company has material non-controlling Ambev Budweiser APAC Million US dollar 31 December 31 December 31 December 31 December Summarized balance sheet information Current assets 6 801 6 853 2 332 2 108 Non-current 17 291 18 389 13 857 13 200 Current liabilities 6 442 6 205 4 637 4 493 Non-current 3 188 3 517 809 931 Equity attributable to equity holders 14 204 15 203 10 685 9 836 Non-controlling 257 317 58 48 Ambev Budweiser APAC Million US dollar 2020 2019 1 2018 2020 2019 2 2018 3 Summarized income statement and other comprehensive income information Revenue 11 373 13 196 13 819 5 588 6 546 6 740 Net income 2 286 3 093 3 122 537 908 959 Attributable to: Equity holders 2 217 2 989 3 025 514 898 958 Non-controlling 69 104 97 23 10 1 Net income 2 286 3 093 3 122 537 908 959 Other comprehensive income 1 467 (193 ) 629 635 (229 ) (500 ) Total comprehensive income 3 753 2 900 3 751 1 172 679 459 Attributable to: Equity holders 3 647 2 801 3 620 1 147 665 458 Non-controlling 106 99 130 25 14 1 Summarized cash flow information Cash flow from operating activities 3 673 4 664 5 089 1 306 1 379 1 684 Cash flow from investing activities (1 325 ) (1 228 ) (1 011 ) (628 ) (743 ) (472 ) Cash flow from financing activities (1 676 ) (3 117 ) (3 799 ) (383 ) (1 349 ) (1 237 ) Net increase/(decrease) in cash and cash equivalents 673 319 279 295 (713 ) (25 ) |
Related parties (Tables)
Related parties (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Directors and Executive Board Management Compensation | Total directors and Executive Committee compensation included in the income statement can be detailed as follows: 2020 2019 2018 Million US dollar Directors Executive Directors Executive Directors Executive Short-term employee benefits 2 4 2 9 2 6 Termination benefits — 2 — 1 — — Share-based payment — 7 — 25 — 34 2 13 2 35 2 40 |
Summary of Aggregate Amounts of AB InBev's Interest | Significant interests in joint ventures include three entities in Brazil, one in Mexico and two in Canada. None of these joint ventures are material to the company. Aggregate amounts of AB InBev’s interest are as follows: Million US dollar 2020 2019 2018 Non-current 8 10 11 Current assets 2 3 5 Non-current 9 11 9 Current liabilities 12 10 12 Result from operations 3 3 4 Profit attributable to equity holders of AB InBev 3 3 3 |
Summary of AB InBev's Transactions with Associates | Significant interests in associates are shown in note 16 Investments in associates Million US dollar 2020 2019 2018 Gross profit (118 ) (78 ) (39 ) Current assets 55 38 84 Current liabilities 115 119 130 |
Events after the balance shee_2
Events after the balance sheet date (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of exercising option to redeem outstanding principal amount | On 11 January 2021, Anheuser-Busch InBev NV/SA (ABISA) announced that it and its wholly-owned subsidiary Anheuser-Busch InBev Worldwide Inc. (“ABIWW”, and together with ABISA, the “Issuers”) exercised their respective options to redeem the outstanding principal amounts for an aggregate principal amount of 3.1 billion US dollar of the following series of notes: Date of redemption Issuer (abbreviated) Title of series of notes issued Currency Original principal Principal amount 28 January 2021 ABISA 1.500% Notes due 2025 EUR 2 147 2 147 27 January 2021 ABIWW 3.750% Notes due 2024 AUD 650 650 |
AB InBev companies (Tables)
AB InBev companies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Investments accounted for using equity method [abstract] | |
Schedule of Name and Registered Office of Fully Consolidated Companies | LIST OF MOST IMPORTANT FULLY CONSOLIDATED COMPANIES Name and registered office of fully consolidated companies % of economic interest as at 31 December 2020 ARGENTINA CERVECERIA Y MALTERIA QUILMES SAICA y G - Charcas 5160 - C1425BOF - Buenos Aires 61.67 % BELGIUM AB INBEV N.V. – Grand Place 1 - 1000 – Brussel Consolidating BRASSERIE DE L’ABBAYE DE LEFFE S.A. - Place de l’Abbaye 1 - 5500 – Dinant 98.54 % BROUWERIJ VAN HOEGAARDEN N.V. - Stoopkensstraat 46 - 3320 – Hoegaarden 100.00 % COBREW N.V. - Brouwerijplein 1 - 3000 – Leuven 100.00 % INBEV BELGIUM BV/SRL - Industrielaan 21 - 1070 – Brussel 100.00 % BOTSWANA KGALAGADI BREWERIES (Pty) Ltd - Plot 20768, Broadhurst industrial estate - Gaborone¹ 31.00 % BOLIVIA CERVECERIA BOLIVIANA NACIONAL S.A. - Av. Montes 400 and Chuquisaca No. 121, Zona Challapampa - La Paz 52.76 % BRAZIL AMBEV S.A. - Rua Dr Renato Paes de Barros, 1017, 3° andar, Itaim Bibi - CEP 04530-001 61.83 % CANADA LABATT BREWING COMPANY LIMITED - 207 Queen’s Quay West, Suite 299 - M5J 1A7 – Toronto 61.83 % CHILE CERVECERIA CHILE S.A. - Av. Presidente Eduardo Frei Montalva 9600 - 8700000 – Quilicura 61.83 % CHINA ANHEUSER-BUSCH INBEV (CHINA) SALES CO LTD. - Shangshou, Qin Duan Kou, Hanyang Area - 430051 - Wuhan City, Hubei Province 87.22 % ANHEUSER-BUSCH INBEV (WUHAN) BREWERY CO. LTD. - Shangshou, Qin Duan Kou, Hanyang Area - 430051 - Wuhan City, Hubei Province 84.66 % ANHEUSER-BUSCH INBEV (FOSHAN) BREWERY CO. LTD. - 1 Budweiser Avenue, Southwest St., Sanshui District - 528132 - Foshan City, Guangdong 87.22 % ANHEUSER-BUSCH INBEV HARBIN BREWERY CO. LTD. - 9 HaPi Road Pingfang District - 150066 - Harbin City, Heilongijang Province 87.22 % ANHEUSER-BUSCH INBEV (TANGSHAN) BREWERY CO. LTD. - 18, Yingbin Road - 063300 - Tangshan City, Hebei Province 87.22 % ANHEUSER-BUSCH INBEV SEDRIN BREWERY CO. LTD. - 660 Gong Ye Road, Hanjiang District - 351111 - Putian City, Fujian Province 87.22 % ANHEUSER-BUSCH INBEV SEDRIN (ZHANGZHOU) BREWERY CO. LTD. - Lantian Economic District - 363005 - Zhangzhou City, Fujian Province 87.22 % ANHEUSER-BUSCH INBEV (TAIZHOU) BREWERY CO. LTD. - 159 Qi Xia East Road, Chengguan Town, Tiantai County - 317200 - Taizhou Cithy, Zhejiang Province 87.22 % ANHEUSER-BUSCH INBEV SEDRIN (NANCHANG) BREWERY CO. LTD - 1188 Jinsha Avenue, Economic District - Nanchang City, Jiangxi Province 87.22 % SIPING GINSBER DRAFT BEER CO. LTD. - Xianmaquan, Tiedong Area - Siping City, Jilin Province 87.22 % 1 The group’s shares entitle the holder to twice the voting rights. Name and registered office of fully consolidated companies % of economic ANHEUSER-BUSCH INBEV (NANTONG) BREWERY CO. LTD. – 666 Zhaoxia Road – Nantong City, Jiangsu Province 87.22 % ANHEUSER-BUSCH INBEV (SICHUAN) BREWERY CO. LTD. – No. 1, AB InBev Avenue, Cheng Nan Industry Park, Economic Development Area – 641300 – Ziyang City, Sichuan Province 87.22 % ANHEUSER-BUSCH INBEV (HENAN) BREWERY CO. LTD. – No. 1 Budweiser Avenue, Industry Park, Tangzhuang Town – 453100 – Weihui City, Henan Province 87.22 % INBEV JINLONGQUAN (HUBEI) BREWERY CO. LTD. – 89 Jin Long Quan Avenue – Jingmen City, Hubei Province 52.33 % ANHEUSER-BUSCH INBEV (SUQIAN) BREWERY CO. LTD. – No 1 Qujiang Road, Suyu Industry Park – Suqian City, Jiangsu Province 87.22 % COLOMBIA ZX VENTURES COLOMBIA S.A.S. – Carrera 53 A, No 127 – 35 – 110221 – Bogota 100.00 % BAVARIA & CIA S.C.A. – Carrera 53 A, No 127 – 35 – 110221 – Bogota 99.14 % KOPPS COMERCIAL S.A.S – Carrera 53 A, No 127 – 35 – 110221 – Bogota 100.00 % CZECH REPUBLIC PIVOVAR SAMSON A.S. – V parku 2326/18, Chodov, 148 00 Praha 4 100.00 % DOMINICAN REPUBLIC CERVECERIA NACIONAL DOMINICANA S.A. – Autopista 30 de Mayo Km 61/2, Distrito Nacional – A.P. 1086 – Santo Domingo 1 52.55 % ECUADOR CERVECERÍA NACIONAL (CN) SA – Via a daule km 16,5 y calle cobre s/n – Guayaquil, Guayas 95.58 % EL SALVADOR INDUSTRIAS LA CONSTANCIA, SA DE CV – 526 Av. Independencia, San Salvador 100.00 % FRANCE AB INBEV FRANCE S.A.S. – Immeuble Crystal, 38, Place Vauban – C.P. 59110 – La Madeleine 100.00 % GERMANY BRAUEREI BECK GmbH & CO. KG – Am Deich 18/19 – 28199 – Bremen 100.00 % BRAUEREI DIEBELS GmbH & CO.KG – Brauerei-Diebels-Strasse 1 – 47661 – Issum 100.00 % HAAKE-BECK AG – Am Deich 18/19 – 28199 – Bremen 99.96 % HASSERÖDER BRAUEREI GmbH – Auerhahnring 1 – 38855 – Wernigerode 100.00 % ANHEUSER-BUSCH INBEV GERMANY HOLDING GmbH – Am Deich 18/19 – 28199 – Bremen 100.00 % SPATEN – FRANZISKANER – BRÄU GmbH – Marsstrasse 46 + 48 – 80335 – München 100.00 % ANHEUSER-BUSCH INBEV Deutschland GmbH & Co KG – Am Deich 18/19 – 28199 – Bremen 100.00 % LOEWENBRAEU AG – Nymphenburger Str. 7 – 80335 – München 100.00 % GHANA ACCRA BREWERY LTD – Farra Avenue 20 1st Floor, Pkf Building, P.O. Box Gp1219 – Accra 60.00 % GRAND DUCHY OF LUXEMBOURG BRASSERIE DE LUXEMBOURG MOUSEL – DIEKIRCH – 1, Rue de la Brasserie – L-9214 95.82 % HONDURAS CERVECERÍA HONDUREÑA, SA DE CV – Blvd. Del Norte, Carretera Salida a Puerto Cortes – San Pedro Sula, Cortes 99.60 % HONG KONG BUDWEISER BREWING CO APAC LTD – Flat Room 1823 18F Soundwill Plaza II-Middle 87.22 % INDIA CROWN BEERS INDIA LIMITED – 510/511 Minerva house, Sarojini devi road, Secunderabad 87.22 % 1 85% owned by Ambev S.A. Name and registered office of fully consolidated companies % of economic ANHEUSER BUSCH INBEV INDIA LIMITED. – Unit No.301-302, 86.97 % ITALY ANHEUSER BUSCH INBEV ITALIA SPA – Piazza Buffoni 3, 21013 Gallarate 100.00 % MEXICO CERVECERIA MODELO DE MEXICO S. DE R.L. DE C.V – Cerrada de Palomas 22, Piso 6, Reforma Social – C.P. 11650 – Mexico City, CD MX 100.00 % MOZAMBIQUE CERVEJAS DE MOÇAMBIQUE SA – Rua do Jardim 1329 – Maputo 51.47 % THE NETHERLANDS INBEV NEDERLAND N.V. – Ceresstraat 1 – 4811 CA – Breda 100.00 % INTERBREW INTERNATIONAL B.V. – Ceresstraat 1 – 4811 CA – Breda 100.00 % AB INBEV AFRICA B.V – Ceresstraat 1, 4811 CA – Breda 62.00 % AB INBEV BOTSWANA B.V. – Ceresstraat 1, 4811 CA – Breda 62.00 % NIGERIA INTERNATIONAL BREWERIES PLC – 22/36 Glover Road, Lagos, Ikoyi, Nigeria 1 43.65 % PANAMA CERVECERÍA NACIONAL S de RL – Ave. Ricardo J. Alfaro, Corregimiento de Betania, Distrito de Panamá, 61.84 % PARAGUAY CERVECERIA PARAGUAYA S.A. – Ruta Villeta km 30 N 3045 – 2660 – Ypané 54.01 % PERU COMPANIA CERVECERA AMBEV PERU S.A.C. – Av. Los Laureles Mza. A Lt. 4 del Centro Poblado Menor Santa Maria de Huachipa – Lurigancho (Chosica) – Lima 15 97.22 % UNIÓN DE CERVECERÍAS PERUANAS BACKUS Y JOHNSTON SAA – 3986 Av. Nicolas Ayllon, Ate, Lima 3 93.78 % SOUTH AFRICA SABSA HOLDINGS LTD PUBLIC LIMITED COMPANY – 65 Park Lane, Sandown – 2001 – Johannesburg 100.00 % THE SOUTH AFRICAN BREWERIES (PTY) LTD LIMITED BY SHARES – 65 Park Lane, Sandown – 2146 – Johannesburg 96.48 % SOUTH KOREA ORIENTAL BREWERY CO., LTD – 8F, ASEM Tower, 517, Yeongdong-daero, Gangnam-gu, 87.22 % SWITZERLAND ANHEUSER-BUSCH INBEV PROCUREMENT GMBH GESELLSCHAFT MIT BESCHRÄNKTER HAFTUNG (GMBH) – Suurstoffi 22 – 6343 – Rotkreuz 100.00 % TANZANIA KIBO BREWERIES LTD PRIVATE COMPANY – Uhuru Street, Plot No 79, Block AA, Mchikichini, Ilala District – Dar es Salaam 1 36.00 % UGANDA NILE BREWERIES LTD – Plot M90 Yusuf Lule Roa, Njeru, Jinja – Eastern Uganda 61.64 % 1 The company is consolidated due to the group’s majority shareholdings and ability to control the operations Name and registered office of fully consolidated companies % of economic interest as at 31 December 2020 UNITED KINGDOM ABI SAB GROUP HOLDING LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN 100.00 % ABI UK HOLDINGS 1 LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN 100.00 % AB INBEV UK LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN 100.00 % AB INBEV HOLDINGS LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN 100.00 % AB INBEV INTERNATIONAL BRANDS LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN 100.00 % ZX VENTURES LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN 100.00 % UNITED STATES ANHEUSER-BUSCH COMPANIES, LLC. - One Busch Place - St. Louis, MO 63118 100.00 % ANHEUSER-BUSCH INTERNATIONAL, INC. - One Busch Place - St. Louis, MO 63118 100.00 % ANHEUSER-BUSCH PACKAGING GROUP, INC. - One Busch Place - St. Louis, MO 63118 100.00 % ANHEUSER-BUSCH, LLC – One Busch Place, St. Louis, Mo. 63118 100.00 % ANHEUSER-BUSCH NORTH AMERICAN HOLDING CORPORATION - C/O THE CORPORATION TRUST COMPANY INC. - 1209 Orange Street - DE 19801 – Wilmington 100.00 % METAL CONTAINER CORPORATION, INC. – One Busch Place, St. Louis, Mo. 63118 50.10 % URUGUAY CERVECERIA Y MALTERIA PAYSANDU S.A. - Cesar Cortinas, 2037 - C.P. 11500 – Montevideo 61.79 % VIETNAM ANHEUSER-BUSCH INBEV VIETNAM BREWERY COMPANY LIMITED/No.2 VSIP II-A, II-A 87.22 % ZAMBIA ZAMBIAN BREWERIES PLC - Mungwi Road, Plot Number 6438, Lusaka 54.00 % LIST OF MOST IMPORTANT ASSOCIATES AND JOINT VENTURES Name and registered office of associates and joint ventures % of economic interest as at 31 December 2020 FRANCE SOCIÉTÉ DES BRASSERIES ET GLACIÈRES INTERNATIONALES SA - 49 Rue François 1er, Paris 20.00 % GIBRALTAR BIH BRASSERIES INTERNATIONALES HOLDING LTD - CC Building, 10th Floor, Main Street 20.00 % BIH BRASSERIES INTERNATIONALES HOLDING (ANGOLA) LTD - Suite 10/3, International Commercial Centre, 2A Main Street 27.00 % TURKEY ANADOLU EFES BIRACILIK VE MALT SANAYII AS - Bahçelievler Mahallesi, Sehit Ibrahim Koparir Caddesi No. 4, Bahçelievler Istanbul 24.00 % ZIMBABWE DELTA CORPORATION LTD - Sable house, P.O. Box BW 343, Northridge Close, Borrowdale, Harare 25.39 % RUSSIA AB INBEV EFES - 28 Moscovskaya Street, Moscow region - 141607 – Klin 50.00 % |
Corporate Information - Additio
Corporate Information - Additional Information (Detail) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020USD ($)EmployeesCountryBrand | Dec. 31, 2019USD ($)Employees | Dec. 31, 2018USD ($)Employees | ||
Disclosure Of Corporate Information [line items] | ||||
Number of employees | 163,695 | 171,915 | 172,776 | |
Revenue | $ | $ 46,881 | $ 52,329 | $ 53,041 | [1] |
Anheuser-Busch in Bev SA/NV [member] | ||||
Disclosure Of Corporate Information [line items] | ||||
Number of employees | 164,000 | |||
Number of countries where the entity operates | Country | 50 | |||
Anheuser-Busch in Bev SA/NV [member] | Bottom of range [member] | ||||
Disclosure Of Corporate Information [line items] | ||||
Number of beer brand | Brand | 500 | |||
Brewing heritage periods | 600 years | |||
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) | 1 Months Ended | 12 Months Ended | |
May 31, 2018 | Dec. 31, 2020SegmentsRegion | Dec. 31, 2019 | |
Disclosure Of Exchange Rates [line items] | |||
Trade receivable settlement period | 30 days | ||
Number of operating segments | 6 | ||
Number of reportable segments | 6 | ||
Number of geographical regions | Region | 5 | ||
ARS [Member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing foreign exchange rate | 84.143520 | 59.890668 | |
Bottom of range [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Voting rights in associate | 20.00% | ||
Bottom of range [member] | Argentina [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Cumulative inflation rate | 100.00% | ||
Top of range [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Voting rights in associate | 50.00% | ||
Software and capitalized development cost [member] | Bottom of range [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Amortisation period | 3 years | ||
Software and capitalized development cost [member] | Top of range [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Amortisation period | 5 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Exchange Rates (Detail) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Argentinean Peso [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 84.143520 | 59.890668 | 37.807879 |
Brazilian Real [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 5.196694 | 4.030696 | 3.874806 |
Average rate | 5.133082 | 3.940998 | 3.634827 |
Canadian Dollar [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 1.273981 | 1.299449 | 1.362882 |
Average rate | 1.346594 | 1.329140 | 1.293896 |
Colombian Peso [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 3,438.52 | 3,272.63 | 3,246.70 |
Average rate | 3,689.50 | 3,305.84 | 2,967.36 |
Chinese Yuan [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 6.537798 | 6.961461 | 6.877787 |
Average rate | 6.947936 | 6.886265 | 6.581607 |
Euro [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 0.814930 | 0.890155 | 0.873362 |
Average rate | 0.878101 | 0.892577 | 0.845697 |
Mexican Peso [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 19.948838 | 18.845242 | 19.682728 |
Average rate | 21.182539 | 19.334915 | 19.195084 |
Pound Sterling [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 0.732646 | 0.757344 | 0.781249 |
Average rate | 0.780195 | 0.784062 | 0.750773 |
Peruvian Nuevo Sol [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 3.621009 | 3.317006 | 3.369998 |
Average rate | 3.491580 | 3.346670 | 3.284477 |
South Korean Won [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 1,088.02 | 1,154.54 | 1,115.40 |
Average rate | 1,185.02 | 1,160.69 | 1,095.46 |
South African Rand [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 14.686598 | 14.044287 | 14.374909 |
Average rate | 16.213180 | 14.512975 | 13.105486 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of Estimated Useful Live of Assets Expected Utility (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Point of sale furniture and equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 5 years |
Vehicles [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 5 years |
Bottom of range [member] | Industrial buildings - other real estate properties [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 20 years |
Bottom of range [member] | Production plant and equipment production equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 10 years |
Bottom of range [member] | Production plant and equipment storage, packaging and handling equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 5 years |
Bottom of range [member] | Returnable packaging kegs [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 2 years |
Bottom of range [member] | Returnable packaging crates [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 2 years |
Bottom of range [member] | Returnable packaging bottles [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 2 years |
Bottom of range [member] | Information processing equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 3 years |
Top of range [member] | Industrial buildings - other real estate properties [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 50 years |
Top of range [member] | Production plant and equipment production equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 15 years |
Top of range [member] | Production plant and equipment storage, packaging and handling equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 7 years |
Top of range [member] | Returnable packaging kegs [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 10 years |
Top of range [member] | Returnable packaging crates [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 10 years |
Top of range [member] | Returnable packaging bottles [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 5 years |
Top of range [member] | Information processing equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 5 years |
Use of Estimates and Judgments
Use of Estimates and Judgments - Additional Information (Detail) $ in Millions | Jun. 01, 2020USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2020 | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Disclosure of changes in accounting estimates [line items] | |||||||
Probability In Percentage Terms Of Goodwill Impairment | 30.00% | 30.00% | |||||
Impairment of goodwill | $ (2,500) | $ (2,500) | |||||
COVID-19 costs | (182) | ||||||
Disposal group discontinue operations gain loss on disposal of business | $ 1,919 | 1,900 | |||||
Sale/(purchase) of non-controlling interests | 2,985 | [1] | $ 5,805 | ||||
Reserves [member] | |||||||
Disclosure of changes in accounting estimates [line items] | |||||||
Sale/(purchase) of non-controlling interests | 1,116 | [1] | 4,378 | ||||
Non-controlling interest [member] | |||||||
Disclosure of changes in accounting estimates [line items] | |||||||
Sale/(purchase) of non-controlling interests | $ 1,869 | [1] | $ 1,427 | $ (429) | |||
Apollo Global Management Inc [Member] | |||||||
Disclosure of changes in accounting estimates [line items] | |||||||
Percentage of minority interest sold | 49.9 | ||||||
Proceeds from sales of investments accounted for using equity method | $ 3,000 | ||||||
South Africa Cash Generating Unit [Member] | |||||||
Disclosure of changes in accounting estimates [line items] | |||||||
Impairment of goodwill | (1,500) | ||||||
Rest Of Africa Cash Generating Unit [Member] | |||||||
Disclosure of changes in accounting estimates [line items] | |||||||
Impairment of goodwill | $ (1,000) | ||||||
Bottom of range [member] | |||||||
Disclosure of changes in accounting estimates [line items] | |||||||
Probability In Percentage Terms Of Goodwill Impairment | 15.00% | ||||||
Top of range [member] | |||||||
Disclosure of changes in accounting estimates [line items] | |||||||
Probability In Percentage Terms Of Goodwill Impairment | 30.00% | ||||||
[1] | The 2020 sale of non-controlling interest relates to the issuance of a 49.9% minority stake in the company’s US-based metal container operations completed in December 2020 (refer to Note 23 Changes in equity and earnings per share for more details). |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020USD ($)Segments | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | ||
Disclosure of operating segments [line items] | ||||
Number of business segment | Segments | 6 | |||
Net revenue | $ 46,881 | $ 52,329 | $ 53,041 | [1] |
Non current Assets | 199,891 | 207,834 | ||
Belgium [member] | ||||
Disclosure of operating segments [line items] | ||||
Net revenue | 501 | 668 | 710 | |
Non current Assets | 2,496 | 2,215 | 2,117 | |
United States [member] | ||||
Disclosure of operating segments [line items] | ||||
Net revenue | 13,815 | 13,693 | 13,624 | |
Brazil [Member] | ||||
Disclosure of operating segments [line items] | ||||
Net revenue | 5,868 | 7,277 | 7,375 | |
Beer business [member] | ||||
Disclosure of operating segments [line items] | ||||
Net revenue | 43,044 | 47,984 | 48,602 | |
Non-beer business [member] | ||||
Disclosure of operating segments [line items] | ||||
Net revenue | $ 3,837 | $ 4,345 | $ 4,439 | |
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Segment Reporting - Summary of
Segment Reporting - Summary of Segment Reporting (Detail) HLS in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020USD ($)HLS | Dec. 31, 2019USD ($)HLS | Dec. 31, 2018USD ($)HLS | |||
Disclosure of operating segments [line items] | |||||
Revenue | $ 46,881 | $ 52,329 | $ 53,041 | [1] | |
Profit from operations | 9,620 | 16,098 | 16,414 | [1] | |
Net finance income/(cost) | (7,697) | (3,473) | (8,826) | [1] | |
Share of results of associates and joint ventures | 156 | 152 | 153 | [1] | |
Income tax expense | 1,932 | 2,786 | 2,585 | [1] | |
Profit from continuing operations | 147 | 9,990 | [2] | 5,157 | [2],[3] |
Discontinued operations results | 2,055 | 424 | 531 | [1] | |
Profit/(loss) | 2,202 | 10,414 | $ 5,688 | [4] | |
Segment assets (non-current) | $ 199,891 | $ 207,834 | |||
Operating segments [member] | |||||
Disclosure of operating segments [line items] | |||||
Volume | HLS | 531 | 561 | 560 | ||
Revenue | $ 46,881 | $ 52,329 | $ 53,041 | ||
Normalized EBITDA | $ 17,321 | $ 21,078 | $ 21,732 | ||
Normalized EBITDA margin % | 36.90% | 40.30% | 41.00% | ||
Depreciation, amortization and impairment | $ (4,598) | $ (4,657) | $ (4,624) | ||
Normalized profit from operations (EBIT) | 12,723 | 16,421 | 17,107 | ||
Exceptional items (see Note 8) | (3,103) | (323) | (692) | ||
Profit from operations | 9,620 | 16,098 | 16,414 | ||
Net finance income/(cost) | (7,697) | (3,473) | (8,826) | ||
Share of results of associates and joint ventures | 156 | 152 | 153 | ||
Income tax expense | (1,932) | (2,786) | (2,585) | ||
Profit from continuing operations | 147 | 9,990 | 5,157 | ||
Discontinued operations results | 2,055 | 424 | 531 | ||
Profit/(loss) | 2,202 | 10,414 | 5,688 | ||
Segment assets (non-current) | 199,891 | 207,834 | 215,587 | ||
Gross capex | $ 3,781 | $ 5,174 | $ 5,005 | ||
FTE | 163,695 | 171,915 | 172,776 | ||
Operating segments [member] | North America [member] | |||||
Disclosure of operating segments [line items] | |||||
Volume | HLS | 107 | 108 | 111 | ||
Revenue | $ 15,622 | $ 15,488 | $ 15,504 | ||
Normalized EBITDA | $ 6,172 | $ 6,185 | $ 6,199 | ||
Normalized EBITDA margin % | 39.50% | 39.90% | 40.00% | ||
Depreciation, amortization and impairment | $ (803) | $ (833) | $ (834) | ||
Normalized profit from operations (EBIT) | 5,369 | 5,352 | 5,365 | ||
Exceptional items (see Note 8) | (222) | (11) | (10) | ||
Profit from operations | 5,147 | 5,341 | 5,355 | ||
Segment assets (non-current) | 63,765 | 63,725 | 63,443 | ||
Gross capex | $ 646 | $ 679 | $ 917 | ||
FTE | 20,281 | 20,040 | 19,323 | ||
Operating segments [member] | Middle America [Member] | |||||
Disclosure of operating segments [line items] | |||||
Volume | HLS | 121 | 134 | 129 | ||
Revenue | $ 10,032 | $ 11,912 | $ 11,614 | ||
Normalized EBITDA | $ 5,014 | $ 6,356 | $ 6,033 | ||
Normalized EBITDA margin % | 50.00% | 53.40% | 51.90% | ||
Depreciation, amortization and impairment | $ (1,017) | $ (921) | $ (844) | ||
Normalized profit from operations (EBIT) | 3,997 | 5,435 | 5,189 | ||
Exceptional items (see Note 8) | (112) | (51) | (151) | ||
Profit from operations | 3,885 | 5,384 | 5,038 | ||
Segment assets (non-current) | 72,331 | 76,168 | 71,844 | ||
Gross capex | $ 829 | $ 1,286 | $ 1,324 | ||
FTE | 48,751 | 52,412 | 53,140 | ||
Operating segments [member] | South America [Member] | |||||
Disclosure of operating segments [line items] | |||||
Volume | HLS | 144 | 140 | 136 | ||
Revenue | $ 8,092 | $ 9,790 | $ 10,238 | ||
Normalized EBITDA | $ 3,179 | $ 4,145 | $ 4,696 | ||
Normalized EBITDA margin % | 39.30% | 42.30% | 45.90% | ||
Depreciation, amortization and impairment | $ (767) | $ (955) | $ (1,008) | ||
Normalized profit from operations (EBIT) | 2,412 | 3,190 | 3,688 | ||
Exceptional items (see Note 8) | (62) | (96) | 1 | ||
Profit from operations | 2,350 | 3,094 | 3,689 | ||
Segment assets (non-current) | 12,348 | 13,452 | 13,250 | ||
Gross capex | $ 727 | $ 1,063 | $ 777 | ||
FTE | 40,630 | 41,603 | 40,503 | ||
Operating segments [member] | EMEA [member] | |||||
Disclosure of operating segments [line items] | |||||
Volume | HLS | 76 | 86 | 87 | ||
Revenue | $ 6,835 | $ 7,911 | $ 8,368 | ||
Normalized EBITDA | $ 1,895 | $ 2,781 | $ 3,184 | ||
Normalized EBITDA margin % | 27.70% | 35.20% | 38.10% | ||
Depreciation, amortization and impairment | $ (988) | $ (974) | $ (936) | ||
Normalized profit from operations (EBIT) | 907 | 1,807 | 2,248 | ||
Exceptional items (see Note 8) | (2,629) | (61) | (370) | ||
Profit from operations | (1,722) | 1,746 | 1,878 | ||
Segment assets (non-current) | 35,578 | 39,442 | 42,874 | ||
Gross capex | $ 768 | $ 1,208 | $ 1,163 | ||
FTE | 22,357 | 23,804 | 23,604 | ||
Operating segments [member] | Asia Pacific [member] | |||||
Disclosure of operating segments [line items] | |||||
Volume | HLS | 82 | 93 | 96 | ||
Revenue | $ 5,648 | $ 6,544 | $ 6,735 | ||
Normalized EBITDA | $ 1,737 | $ 2,287 | $ 2,178 | ||
Normalized EBITDA margin % | 30.80% | 35.00% | 32.30% | ||
Depreciation, amortization and impairment | $ (646) | $ (648) | $ (734) | ||
Normalized profit from operations (EBIT) | 1,091 | 1,639 | 1,444 | ||
Exceptional items (see Note 8) | (29) | (41) | (43) | ||
Profit from operations | 1,062 | 1,598 | 1,401 | ||
Segment assets (non-current) | 13,845 | 13,450 | 22,545 | ||
Gross capex | $ 508 | $ 626 | $ 599 | ||
FTE | 26,510 | 29,482 | 31,523 | ||
Operating segments [member] | Global export and holding companies [member] | |||||
Disclosure of operating segments [line items] | |||||
Volume | HLS | 1 | 1 | 1 | ||
Revenue | $ 652 | $ 685 | $ 582 | ||
Normalized EBITDA | (677) | (676) | (558) | ||
Depreciation, amortization and impairment | (376) | (325) | (269) | ||
Normalized profit from operations (EBIT) | (1,053) | (1,001) | (827) | ||
Exceptional items (see Note 8) | (50) | (63) | (119) | ||
Profit from operations | (1,103) | (1,064) | (946) | ||
Segment assets (non-current) | 2,024 | 1,597 | 1,631 | ||
Gross capex | $ 303 | $ 312 | $ 224 | ||
FTE | 5,166 | 4,574 | 4,683 | ||
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. | ||||
[2] | The consolidated statement of cash flows for 2019 and 2018 has been restated to include operating, investing and financing activities from discontinued operations separately in the cashflow statement. In addition, the 2019 cash flow from investing activities has been restated to reflect reclassification of the cash flow hedges in relation to the Australia divestiture reported in the financing activities in 2019 and recycled to profit or loss upon the completion of the transaction. | ||||
[3] | In 2019, the consolidated statement of cash flows for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. | ||||
[4] | In 2019, the consolidated statement of comprehensive income for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application. |
Acquisitions and Disposals of_3
Acquisitions and Disposals of Subsidiaries - Summary of Impact of Acquisitions and Disposals on Consolidated Statements (Detail) - USD ($) $ in Millions | Jun. 01, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Non-current liabilities | |||
Trade and other payables | $ (1,522) | $ (1,943) | |
Current liabilities | |||
Consideration paid/(received) | $ 10,838 | ||
Acquisitions [member] | |||
Non-current assets | |||
Property, plant and equipment | 149 | 44 | |
Intangible assets | 162 | 128 | |
Investments in associates | (7) | (15) | |
Current assets | |||
Inventories | 33 | 43 | |
Trade and other receivables | 9 | 19 | |
Cash and cash equivalents | 5 | 40 | |
Non-current liabilities | |||
Interest-bearing loans and borrowings | (74) | (11) | |
Trade and other payables | (34) | (110) | |
Deferred tax liabilities | (6) | (33) | |
Current liabilities | |||
Interest-bearing loans and borrowings | (4) | ||
Trade and other payables | (59) | (65) | |
Net identifiable assets and liabilities | 174 | 40 | |
Non-controlling interest | (12) | ||
Goodwill on acquisitions and goodwill disposed of | 185 | 682 | |
Consideration to be (paid)/received | (14) | (275) | |
Net cash paid/(received) on prior years acquisitions/(disposals) | 170 | 16 | |
Consideration paid/(received) | 515 | 451 | |
Cash (acquired)/disposed of | (5) | (40) | |
Net cash outflow / (inflow) | 510 | 411 | |
Net cash outflow / (inflow) on continuing operations | $ 510 | 385 | |
Net cash outflow / (inflow) on discontinued operations | 26 | ||
Disposals [member] | |||
Non-current assets | |||
Property, plant and equipment | (1) | ||
Intangible assets | (29) | ||
Current assets | |||
Inventories | (7) | ||
Trade and other receivables | (1) | ||
Non-current liabilities | |||
Deferred tax liabilities | 9 | ||
Current liabilities | |||
Trade and other payables | 2 | ||
Net identifiable assets and liabilities | (27) | ||
Non-controlling interest | 2 | ||
Goodwill on acquisitions and goodwill disposed of | (22) | ||
Loss/(gain) on disposal | (21) | ||
Net cash paid/(received) on prior years acquisitions/(disposals) | (65) | ||
Consideration paid/(received) | (133) | ||
Net cash outflow / (inflow) | (133) | ||
Net cash outflow / (inflow) on continuing operations | $ (133) |
Acquisitions and Disposals of_4
Acquisitions and Disposals of Subsidiaries - Additional Information (Detail) - Craft Brew Alliance [member] $ in Billions | Sep. 30, 2020USD ($) |
Disclosure of acquisitions and disposals [line items] | |
Percentage of voting interest acquired | 68.80% |
Business acquisition consideration transferred | $ 0.2 |
Proportion of ownership interest in subsidiary | 100.00% |
Other Operating Income_(Expen_3
Other Operating Income/(Expenses) - Summary of Other Operating Income Expense (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of other operating income expense [abstract] | ||||
Brazilian tax credits | $ 481 | |||
Government grants | 227 | $ 280 | $ 317 | |
Net gain on disposal of property, plant and equipment, intangible assets and assets held for sale | 56 | 172 | 80 | |
License income | 22 | 30 | 45 | |
Net (additions to)/reversals of provisions | (14) | (10) | (11) | |
Net rental and other operating income | 72 | 402 | 374 | |
Other operating income/(expenses) | $ 845 | $ 875 | $ 805 | [1] |
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Other Operating Income_(Expen_4
Other Operating Income/(Expenses) - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other operating income expense [abstract] | |||
Research and development | $ 296 | $ 291 | $ 276 |
Income from brazilian tax credits | 481 | ||
Income from interest on brazilian tax credits | 315 | $ 118 | |
Decrease in net gain disposal of property plant and equipment and net rental and other operating income | $ 128 |
Exceptional items - Summary of
Exceptional items - Summary of Exceptional Items Included in Income Statement (Detail) - USD ($) $ in Millions | Jun. 01, 2020 | Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of Exceptional Items [line items] | |||||||
Impairment of goodwill | $ (2,500) | $ (2,500) | |||||
COVID-19 costs | (182) | ||||||
Restructuring | (157) | $ (170) | $ (363) | [1] | |||
Business and asset disposal (including exceptional impairment losses) | (239) | (50) | (26) | ||||
Acquisition costs business combinations | (25) | (23) | (73) | [1] | |||
Brazil State tax regularization program | (74) | ||||||
Cost related to public offering of minority stake in Budweiser APAC | (6) | ||||||
Provision for EU investigation | [1] | (230) | |||||
Impact on profit from operations | (3,103) | $ (323) | $ (692) | ||||
Gain on disposal of Australia | $ 1,919 | 1,900 | |||||
Impact on profit from discontinued operations | (1,184) | ||||||
Carlton United Breweries [Member] | |||||||
Disclosure of Exceptional Items [line items] | |||||||
Gain on disposal of Australia | $ 1,919 | $ 1,919 | |||||
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Exceptional Items - Additional
Exceptional Items - Additional Information (Detail) - USD ($) $ in Millions | Jun. 01, 2020 | Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of Exceptional Items [line items] | ||||||
Exceptional restructuring charges | $ (157) | $ (170) | $ (363) | [1] | ||
Acquisition costs business combinations | (25) | (23) | (73) | [1] | ||
Business and asset disposal | (239) | (50) | (26) | |||
Provision for EU Investigation Settlement | (230) | |||||
NET finance (cost) income | (1,738) | 882 | (1,982) | |||
Decrease of income taxes | 155 | (6) | 240 | |||
Non-controlling interest on the exceptional items | 228 | 108 | $ 32 | |||
Impairment of goodwill | $ (2,500) | (2,500) | ||||
COVID-19 Costs incurred on account of unforeseen events | (182) | |||||
Disposal group discontinue operations gain loss on disposal of business | $ 1,919 | 1,900 | ||||
Carlton United Breweries [Member] | ||||||
Disclosure of Exceptional Items [line items] | ||||||
Disposal group discontinue operations gain loss on disposal of business | $ 1,919 | $ 1,919 | ||||
Budweiser APAC [Member] | ||||||
Disclosure of Exceptional Items [line items] | ||||||
Fees related to the initial public offering of a minority stake of Budweiser APAC | (117) | |||||
Expenses relating to share issuance cost reported in the income statement | (6) | |||||
capitalization of share issuance cost in equity | (111) | |||||
Stamp Duties In Equity That Are Directly Attributable To The Public Offering | (58) | |||||
Brazilian State Tax Regularization Program [Member] | ||||||
Disclosure of Exceptional Items [line items] | ||||||
Payment related to Special Value-added Tax (ICMS) Amnesty Program | $ (74) | |||||
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Payroll and Related Benefits -
Payroll and Related Benefits - Summary of Payroll and Related Benefits (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Share Of Equity Investment [line items] | |||
Share-based payment expense | $ (169) | $ (340) | $ (353) |
Payroll and related benefits | (156) | (137) | (193) |
Payroll and related benefits [member] | |||
Disclosure Of Share Of Equity Investment [line items] | |||
Wages and salaries | (4,124) | (4,563) | (4,638) |
Social security contributions | (582) | (683) | (694) |
Other personnel cost | (637) | (678) | (708) |
Pension expense for defined benefit plans | (218) | (193) | (192) |
Share-based payment expense | (169) | (340) | (353) |
Contributions to defined contribution plans | (91) | (101) | (109) |
Payroll and related benefits | $ (5,821) | $ (6,558) | $ (6,694) |
Payroll and Related Benefits _2
Payroll and Related Benefits - Summary of Number of Full Time Equivalents (Detail) - Employees | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Share Of Equity Investment [line items] | |||
Total number of full time equivalents | 163,695 | 171,915 | 172,776 |
Parent [member] | |||
Disclosure Of Share Of Equity Investment [line items] | |||
Total number of full time equivalents | 204 | 204 | 180 |
Other subsidiaries [member] | |||
Disclosure Of Share Of Equity Investment [line items] | |||
Total number of full time equivalents | 163,491 | 171,711 | 172,596 |
Additional Information on Ope_3
Additional Information on Operating Expenses By Nature - Summary of Depreciation, Amortization and Impairment Charges (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Additional Information On Operating Expenses By Nature [Line Items] | |||
Depreciation and impairment of property, plant and equipment | $ 3,418 | $ 3,570 | $ 3,680 |
Amortization and impairment of intangible assets | 708 | 627 | 489 |
Depreciation and impairment of right-of-use asset | 473 | 460 | 455 |
Impairment of goodwill | 2,733 | ||
Cost of sales [member] | |||
Additional Information On Operating Expenses By Nature [Line Items] | |||
Depreciation and impairment of property, plant and equipment | 2,625 | 2,751 | 2,807 |
Amortization and impairment of intangible assets | 91 | 86 | 67 |
Depreciation and impairment of right-of-use asset | 16 | 11 | |
Distribution expenses [member] | |||
Additional Information On Operating Expenses By Nature [Line Items] | |||
Depreciation and impairment of property, plant and equipment | 141 | 155 | 166 |
Amortization and impairment of intangible assets | 3 | 4 | 3 |
Depreciation and impairment of right-of-use asset | 108 | 191 | 186 |
Sales and marketing expenses [member] | |||
Additional Information On Operating Expenses By Nature [Line Items] | |||
Depreciation and impairment of property, plant and equipment | 339 | 379 | 414 |
Amortization and impairment of intangible assets | 291 | 247 | 165 |
Depreciation and impairment of right-of-use asset | 224 | 160 | 153 |
Administrative expenses [member] | |||
Additional Information On Operating Expenses By Nature [Line Items] | |||
Depreciation and impairment of property, plant and equipment | 310 | 277 | 285 |
Amortization and impairment of intangible assets | 323 | 290 | 254 |
Depreciation and impairment of right-of-use asset | 125 | 98 | 116 |
Other operating expenses [member] | |||
Additional Information On Operating Expenses By Nature [Line Items] | |||
Depreciation and impairment of property, plant and equipment | 3 | $ 8 | $ 8 |
Exceptional Items [member] | |||
Additional Information On Operating Expenses By Nature [Line Items] | |||
Impairment of goodwill | $ 2,733 |
Additional Information on Ope_4
Additional Information on Operating Expenses by Nature - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cost of sales [member] | |||
Disclosure Of Depreciation Amortization And Impairment [line items] | |||
Full cost reallocation from the aggregate depreciation, amortization and impairment expense to cost of good sold | $ (5) | $ 5 | $ 1 |
Finance Cost and Income - Summa
Finance Cost and Income - Summary of Finance Cost and Income Included in Income Statement (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of finance income expense [line items] | ||||
Interest expense | $ (4,016) | $ (4,168) | ||
Capitalization of borrowing costs | 12 | 19 | ||
Net interest on net defined benefit liabilities | (82) | (95) | ||
Accretion expense | (564) | (650) | ||
Net losses on hedging instruments that are not part of a hedge accounting relationship | (502) | (393) | ||
Net foreign exchange results (net of the effect of foreign exchange derivative instruments) | (180) | |||
Tax on financial transactions | (103) | (79) | ||
Net mark-to-market results on derivatives related to the hedging of share-based payment | (1,211) | |||
Other financial costs, including bank fees | (135) | (225) | ||
Finance costs, excluding exceptional items | (6,601) | (5,771) | ||
Exceptional finance cost | (1,818) | (222) | ||
Finance costs | (8,419) | (5,993) | $ (9,261) | [1] |
Interest income | 150 | 292 | 326 | |
Income from interest on brazilian tax credits | 315 | 118 | ||
Hyperinflation monetary adjustments | 76 | 86 | ||
Market-to-market gains on derivatives related to the hedging of share-based payment programs | 898 | |||
Net foreign exchange results (net of the effect of foreign exchange derivative instruments) | 43 | |||
Other financial income | 58 | 21 | ||
Finance income, excluding exceptional items | 642 | 1,415 | ||
Exceptional finance income | 80 | 1,104 | ||
Finance income | 722 | 2,519 | 435 | [1] |
Net finance income/(cost) excluding exceptional items | (5,959) | (4,355) | (6,844) | |
Net finance income/(cost) | $ (7,697) | $ (3,473) | (8,826) | [1] |
As Restated [member] | ||||
Disclosure of finance income expense [line items] | ||||
Interest expense | (4,141) | |||
Capitalization of borrowing costs | 23 | |||
Net interest on net defined benefit liabilities | (94) | |||
Accretion expense | (511) | |||
Net losses on hedging instruments that are not part of a hedge accounting relationship | (449) | |||
Tax on financial transactions | (110) | |||
Net mark-to-market results on derivatives related to the hedging of share-based payment | (1,774) | |||
Other financial costs, including bank fees | (242) | |||
Finance costs, excluding exceptional items | (7,298) | |||
Exceptional finance cost | (1,982) | |||
Finance costs | (9,280) | |||
Interest income | 326 | |||
Income from interest on brazilian tax credits | 7 | |||
Hyperinflation monetary adjustments | 46 | |||
Net foreign exchange results (net of the effect of foreign exchange derivative instruments) | 19 | |||
Other financial income | 56 | |||
Finance income, excluding exceptional items | 454 | |||
Finance income | 454 | |||
Net finance income/(cost) excluding exceptional items | (6,844) | |||
Net finance income/(cost) | $ (8,826) | |||
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Finance Cost and Income - Addit
Finance Cost and Income - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of finance income expense [line items] | |||
Share based payment of net (loss) gain | $ (1,211) | $ 898 | $ (1,774) |
Difference on share based payment gain loss | 2,109 | ||
Interest expense on lease liabilities | 116 | 124 | 111 |
Interest expenses | (4,016) | (4,168) | |
Net finance income/(cost) excluding exceptional items | (5,959) | (4,355) | (6,844) |
Mark to market gain (loss) | (1,008) | 878 | (1,722) |
Unwinding of discount | 306 | 374 | 245 |
Interest expense on bonds | 102 | 110 | 116 |
Interest on provisions | 41 | 42 | 38 |
Brazilian tax credits | 481 | ||
Income from interest on brazilian tax credits | 315 | 118 | |
Gain (loss) on early termination | (795) | 84 | (260) |
Gain (loss) on remeasurement of deferred considerations | 80 | 90 | 0 |
Foreign exchange translation losses on intragroup loans | 52 | ||
Brazilian federal tax regularization program [member] | |||
Disclosure of finance income expense [line items] | |||
Interest expenses | (34) | ||
Delta Corporation Ltd [member] | |||
Disclosure of finance income expense [line items] | |||
Write off company investment | $ (15) | $ (188) | $ 0 |
Bottom of range [member] | |||
Disclosure of finance income expense [line items] | |||
Borrowing costs capitalised | 3.00% | ||
Top of range [member] | |||
Disclosure of finance income expense [line items] | |||
Borrowing costs capitalised | 4.00% |
Finance Cost and Income - Sum_2
Finance Cost and Income - Summary of Interest Income (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of finance income expense [abstract] | |||
Cash and cash equivalents | $ 103 | $ 237 | $ 256 |
Investment debt securities held for trading | 1 | 9 | 22 |
Other loans and receivables | 46 | 46 | 48 |
Total | $ 150 | $ 292 | $ 326 |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Taxes (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure Of Income Taxes [line items] | ||||
Current year | $ (2,082) | $ (2,863) | $ (2,704) | |
(Underprovided)/overprovided in prior years | 119 | 58 | 101 | |
Current tax expense | (1,963) | (2,805) | (2,603) | |
Origination and reversal of temporary differences | (30) | (21) | (148) | |
(Utilization)/recognition of deferred tax assets on tax losses | 13 | 13 | 120 | |
Recognition of previously unrecognized tax losses | 48 | 27 | 46 | |
Deferred tax (expense)/income | 31 | 19 | 18 | |
Income tax expense | $ (1,932) | $ (2,786) | $ (2,585) | [1] |
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Income Taxes - Summary of Recon
Income Taxes - Summary of Reconciliation of Effective Tax Rate with Aggregated Weighted Nominal Tax Rate (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure Of Income Taxes [line items] | ||||
Profit before tax | $ 2,079 | $ 12,776 | $ 7,741 | [1] |
Deduct share of result of associates and joint ventures | 156 | 152 | 153 | |
Profit before tax and before share of result of associates and joint ventures | 1,924 | 12,624 | 7,588 | |
Adjustments on taxable basis | ||||
Government incentives | (428) | (709) | (742) | |
Non-deductible/(non-taxable) marked to market on derivatives | 2,219 | (1,776) | 3,496 | |
Non-deductible impairment of goodwill | 2,500 | |||
Other expenses not deductible for tax purposes | 1,512 | 1,223 | 1,796 | |
Other non-taxable income | (250) | (282) | (158) | |
Gross adjustments on taxable basis | $ 7,477 | $ 11,080 | $ 11,980 | |
Aggregate weighted nominal tax rate | 27.70% | 26.20% | 26.50% | |
Tax at aggregated weighted nominal tax rate | $ (2,069) | $ (2,901) | $ (3,172) | |
Adjustments on tax expense | ||||
Utilization of tax losses not previously recognized | 13 | 13 | 120 | |
Recognition of deferred taxes on previous years' tax losses | 48 | 27 | 46 | |
Write-down of deferred tax assets on losses and current year losses for which no deferred tax asset is recognized | (386) | (137) | (125) | |
(Underprovided)/overprovided in prior years | 119 | 58 | 101 | |
Deductions from interest on equity | 431 | 666 | 471 | |
Deductions from goodwill | 16 | 20 | 17 | |
Other tax deductions | 218 | 259 | 400 | |
US Tax reform (change in tax rate and other) | 116 | |||
Change in tax rate | 61 | (95) | 144 | |
Withholding taxes | (423) | (505) | (403) | |
Other tax adjustments | 39 | (191) | (300) | |
Income tax expense | $ (1,932) | $ (2,786) | $ (2,585) | [1] |
Effective tax rate | 100.40% | 22.10% | 34.10% | |
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure Of Income Taxes [line items] | ||||
Income tax expense | $ 1,932 | $ 2,786 | $ 2,585 | [1] |
Effective tax rate | 100.40% | 22.10% | 34.10% | |
US Tax reform (change in tax rate and other) | $ 116 | |||
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Income Taxes - Summary of Detai
Income Taxes - Summary of Detail Information of Income Tax Recognized in Other Comprehensive Income (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Major components of tax expense (income) [abstract] | |||
Re-measurements of post-employment benefits | $ 58 | $ 19 | $ 22 |
Exchange differences, cash flow and net investment hedges | 304 | 88 | 108 |
Income tax (losses)/gains | $ 361 | $ 109 | $ 130 |
Property, Plant and Equipment -
Property, Plant and Equipment -Summary of Property, Plant and Equipment owned and Leased assets (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | $ 26,419 | $ 27,544 |
Property, plant and equipment owned [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | 24,191 | 25,515 |
Property, plant and equipment leased (right-of-use assets) [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | $ 2,228 | $ 2,029 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Detailed Information About Property, Plant and Equipment (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | $ 27,544 | |
Ending balance | 26,419 | $ 27,544 |
Carrying amount | 27,544 | 27,544 |
As Restated [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 25,515 | |
Ending balance | 25,515 | |
Carrying amount | 25,515 | 25,515 |
Acquisition cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 48,757 | 47,969 |
Effect of movements in foreign exchange | (1,644) | (485) |
Acquisitions | 3,188 | 4,451 |
Acquisitions through business combinations | 111 | 24 |
Disposals | (1,274) | (1,987) |
Disposals through the sale of subsidiaries | (4) | |
Transfer (to)/from other asset categories and other movements | (145) | (1,211) |
Ending balance | 48,993 | 48,757 |
Carrying amount | 48,993 | 47,969 |
Amortization and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (23,242) | (22,331) |
Effect of movements in foreign exchange | 625 | 310 |
Depreciation | (3,250) | (3,370) |
Disposals | 1,130 | 1,734 |
Disposals through the sale of subsidiaries | 3 | |
Impairment losses | (145) | (87) |
Transfer (to)/from other asset categories and other movements | 80 | 499 |
Ending balance | (24,802) | (23,242) |
Carrying amount | (24,802) | (22,331) |
Land and buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 8,612 | |
Ending balance | 8,287 | 8,612 |
Carrying amount | 8,287 | 8,612 |
Land and buildings [member] | Acquisition cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 12,216 | |
Effect of movements in foreign exchange | (393) | |
Acquisitions | 24 | |
Acquisitions through business combinations | 40 | |
Disposals | (68) | |
Transfer (to)/from other asset categories and other movements | 419 | |
Ending balance | 12,237 | 12,216 |
Carrying amount | 12,237 | 12,216 |
Land and buildings [member] | Amortization and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (3,604) | |
Effect of movements in foreign exchange | 54 | |
Depreciation | (387) | |
Disposals | 23 | |
Impairment losses | (31) | |
Transfer (to)/from other asset categories and other movements | (4) | |
Ending balance | (3,950) | (3,604) |
Carrying amount | (3,950) | (3,604) |
Plant and equipment fixtures and fittings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 14,743 | |
Ending balance | 14,124 | 14,743 |
Carrying amount | 14,124 | 14,743 |
Plant and equipment fixtures and fittings [member] | Acquisition cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 34,381 | |
Effect of movements in foreign exchange | (1,086) | |
Acquisitions | 856 | |
Acquisitions through business combinations | 56 | |
Disposals | (1,186) | |
Transfer (to)/from other asset categories and other movements | 1,955 | |
Ending balance | 34,976 | 34,381 |
Carrying amount | 34,976 | 34,381 |
Plant and equipment fixtures and fittings [member] | Amortization and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (19,638) | |
Effect of movements in foreign exchange | 570 | |
Depreciation | (2,862) | |
Disposals | 1,108 | |
Impairment losses | (114) | |
Transfer (to)/from other asset categories and other movements | 84 | |
Ending balance | (20,852) | (19,638) |
Carrying amount | (20,852) | (19,638) |
Under construction [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 2,160 | |
Ending balance | 1,780 | 2,160 |
Carrying amount | 1,780 | 2,160 |
Under construction [member] | Acquisition cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 2,160 | |
Effect of movements in foreign exchange | (165) | |
Acquisitions | 2,308 | |
Acquisitions through business combinations | 16 | |
Disposals | (19) | |
Transfer (to)/from other asset categories and other movements | (2,519) | |
Ending balance | 1,780 | 2,160 |
Carrying amount | $ 1,780 | $ 2,160 |
Property, Plant and Equipment_3
Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Contractual commitments for acquisition of property, plant and equipment | $ 528 | $ 457 |
AB InBev's net capital expenditures in the statement of cash flow | $ 3,687 | 4,854 |
Lease agreement term | 27 years | |
Additions to right of use assets | $ 381 | 420 |
Bottom of range [member] | Dutch and Belgian pub real estate [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sublease average outstanding period | 6 years | |
Top of range [member] | Dutch and Belgian pub real estate [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sublease average outstanding period | 8 years | |
Production facilities [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Percentage of improve the production facilities | 41.00% | |
Logistics and commercial investments [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Percentage of improve the production facilities | 44.00% | |
Administrative capabilities and purchase of hardware and software [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Percentage of improving administrative capabilities and for the purchase of hardware and software | 15.00% | |
Property, plant and equipment subject to operating leases [member] | Bottom of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Operating lease initial period | 5 years | |
Property, plant and equipment subject to operating leases [member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Operating lease initial period | 10 years | |
Gross carrying amount [member] | Restrictions [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, restrictions on title | $ 2 | $ 4 |
Property, Plant and Equipment_4
Property, Plant and Equipment - Summary of Property, Plant and Equipment Leased (right- of- use assets) (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Right-of-use assets, net carrying amount | $ 2,228 | $ 2,029 |
Right-of-use assets, depreciation for the period | (499) | (489) |
Land and buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Right-of-use assets, net carrying amount | 1,726 | 1,723 |
Right-of-use assets, depreciation for the period | (343) | (329) |
Machinery, equipment and other [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Right-of-use assets, net carrying amount | 502 | 306 |
Right-of-use assets, depreciation for the period | $ (156) | $ (160) |
Goodwill - Reconciliation of Go
Goodwill - Reconciliation of Goodwill (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill beginning balance | $ 128,114 | ||
Impairment losses | $ (2,500) | (2,500) | |
Acquisitions through business combinations | 162 | $ 128 | |
Hyperinflation monetary adjustments | (76) | (86) | |
Goodwill ending balance | 120,971 | 128,114 | |
Carrying amount | 128,114 | 128,114 | |
Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill beginning balance | 128,119 | 133,316 | |
Effect of movements in foreign exchange | (4,723) | 53 | |
Acquisitions through business combinations | 185 | 682 | |
Disposals through the sale of subsidiaries | (22) | ||
Hyperinflation monetary adjustments | 120 | 171 | |
Reclassified as held for sale | (6,081) | ||
Goodwill ending balance | 123,702 | 128,119 | |
Carrying amount | 123,702 | 133,316 | |
Impairment losses [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill beginning balance | (5) | (5) | |
Effect of movements in foreign exchange | (226) | ||
Impairment losses | (2,500) | ||
Goodwill ending balance | (2,731) | (5) | |
Carrying amount | $ (2,731) | $ (5) |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of reconciliation of changes in goodwill [line items] | ||||
Cost to sell expected to reach as percentage of entity value | 2.00% | |||
Adverse change in WACC | 1.00% | 1.00% | 1.00% | 1.00% |
Additional recognition, goodwill | $ 162 | $ 128 | ||
Impairment of goodwill | $ 2,500 | $ 2,500 | ||
Probability in percentage terms of goodwill impairment | 30.00% | 30.00% | ||
Goodwill Impairment Scenario One [Member] | ||||
Disclosure of reconciliation of changes in goodwill [line items] | ||||
Percentage Increase In The Probability For Goodwill Impairment | 5.00% | |||
South Africa Cash Generating Unit [Member] | ||||
Disclosure of reconciliation of changes in goodwill [line items] | ||||
Impairment of goodwill | $ 1,500 | |||
Rest Of Africa Cash Generating Unit [Member] | ||||
Disclosure of reconciliation of changes in goodwill [line items] | ||||
Impairment of goodwill | $ 1,000 | |||
South Africa And Rest Of Africa Cash Generarting Units [Member] | Thirty Percentage Probability Of Occurrence [Member] | ||||
Disclosure of reconciliation of changes in goodwill [line items] | ||||
Impact On Goodwill Impairment Loss | $ 600 | |||
Probability Of Goodwill Impairment In Percentage | 30.00% | |||
South Africa And Rest Of Africa Cash Generarting Units [Member] | Goodwill Impairment Scenario One [Member] | ||||
Disclosure of reconciliation of changes in goodwill [line items] | ||||
Additional impairment charges to goodwill | $ 400 | |||
Bottom of range [member] | ||||
Disclosure of reconciliation of changes in goodwill [line items] | ||||
Growth rate used to extrapolate cash flow projections | 2.00% | |||
Probability in percentage terms of goodwill impairment | 15.00% | |||
Bottom of range [member] | Worst Case Scenario [Member] | ||||
Disclosure of reconciliation of changes in goodwill [line items] | ||||
Growth rate used to extrapolate cash flow projections | 15.00% | |||
Top of range [member] | ||||
Disclosure of reconciliation of changes in goodwill [line items] | ||||
Growth rate used to extrapolate cash flow projections | 5.00% | |||
Probability in percentage terms of goodwill impairment | 30.00% | |||
Top of range [member] | Worst Case Scenario [Member] | ||||
Disclosure of reconciliation of changes in goodwill [line items] | ||||
Growth rate used to extrapolate cash flow projections | 30.00% | |||
AB inBev [member] | ||||
Disclosure of reconciliation of changes in goodwill [line items] | ||||
Additional recognition, goodwill | $ 185 | $ 682 | ||
Percentage of goodwill to total assets | 53.00% |
Goodwill - Summary of Weighted
Goodwill - Summary of Weighted Average Cost of Capital (Detail) - US Dollar [member] | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Colombia [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Weighted average cost of capital | 6.00% | 6.00% | |
Colombia [member] | Top of range [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Weighted average cost of capital | 7.00% | ||
Colombia [member] | Bottom of range [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Weighted average cost of capital | 6.00% | ||
Rest of Middle Americas [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Weighted average cost of capital | 9.00% | 9.00% | |
Rest of Middle Americas [member] | Top of range [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Weighted average cost of capital | 11.00% | ||
Rest of Middle Americas [member] | Bottom of range [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Weighted average cost of capital | 10.00% | ||
South Africa [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Weighted average cost of capital | 7.00% | 7.00% | |
South Africa [member] | Top of range [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Weighted average cost of capital | 8.00% | ||
South Africa [member] | Bottom of range [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Weighted average cost of capital | 7.00% | ||
Rest of Africa [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Weighted average cost of capital | 10.00% | 10.00% | |
Rest of Africa [member] | Top of range [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Weighted average cost of capital | 12.00% | ||
Rest of Africa [member] | Bottom of range [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Weighted average cost of capital | 10.00% | ||
Rest Of Asia Pacific [Member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Weighted average cost of capital | 8.00% | 6.00% |
Goodwill - Summary of Carrying
Goodwill - Summary of Carrying Amount of Goodwill Allocated to Different Cash-generating Units (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | $ 120,971 | $ 128,114 |
United States [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 33,552 | 33,451 |
Rest of North America [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 2,105 | 1,984 |
Mexico [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 12,446 | 13,175 |
Colombia [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 17,748 | 18,647 |
Rest of Middle Americas [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 24,036 | 25,257 |
Brazil [Member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 3,521 | 4,539 |
Rest of South America [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 1,061 | 1,101 |
Europe [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 2,444 | 2,277 |
South Africa [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 11,110 | 13,500 |
Rest of Africa [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 4,990 | 6,691 |
China [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 3,291 | 3,095 |
Rest of Asia Pacific [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 4,059 | 4,397 |
Global Export and Holding Companies [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | $ 608 | $ 0 |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | $ 42,452 | |
Impairment | (165) | $ 0 |
Ending balance | 41,527 | 42,452 |
Amortization and impairment losses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | (3,656) | (3,634) |
Effect of movements in foreign exchange | (16) | 41 |
Amortization | (715) | (622) |
Impairment | (165) | |
Disposals | 62 | 254 |
Transfer (to)/from other asset categories and other movements | 132 | 305 |
Ending balance | (4,358) | (3,656) |
Acquisition cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 46,108 | 48,465 |
Effect of movements in foreign exchange | (789) | (79) |
Acquisitions through business combinations | 162 | 99 |
Acquisitions and expenditures | 557 | 631 |
Disposals | (142) | (259) |
Disposals through the sale of subsidiaries | (29) | |
Transfer (to)/from other asset categories and other movements | (11) | (2,720) |
Ending balance | 45,885 | 46,108 |
Brands [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 40,042 | |
Ending balance | 39,386 | 40,042 |
Brands [member] | Amortization and impairment losses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | (32) | |
Impairment | (9) | |
Ending balance | (41) | (32) |
Brands [member] | Acquisition cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 40,074 | |
Effect of movements in foreign exchange | (839) | |
Acquisitions through business combinations | 157 | |
Acquisitions and expenditures | 35 | |
Ending balance | 39,427 | 40,074 |
Commercial intangibles [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 1,179 | |
Ending balance | 959 | 1,179 |
Commercial intangibles [member] | Amortization and impairment losses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | (1,595) | |
Effect of movements in foreign exchange | 12 | |
Amortization | (297) | |
Impairment | (156) | |
Disposals | 18 | |
Transfer (to)/from other asset categories and other movements | (54) | |
Ending balance | (2,072) | (1,595) |
Commercial intangibles [member] | Acquisition cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 2,774 | |
Effect of movements in foreign exchange | (6) | |
Acquisitions and expenditures | 190 | |
Disposals | (23) | |
Transfer (to)/from other asset categories and other movements | 96 | |
Ending balance | 3,031 | 2,774 |
Software [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 743 | |
Ending balance | 791 | 743 |
Software [member] | Amortization and impairment losses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | (1,851) | |
Effect of movements in foreign exchange | (29) | |
Amortization | (364) | |
Disposals | 35 | |
Transfer (to)/from other asset categories and other movements | 28 | |
Ending balance | (2,181) | (1,851) |
Software [member] | Acquisition cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 2,594 | |
Effect of movements in foreign exchange | 42 | |
Acquisitions and expenditures | 53 | |
Disposals | (38) | |
Transfer (to)/from other asset categories and other movements | 321 | |
Ending balance | 2,972 | 2,594 |
Other [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 488 | |
Ending balance | 391 | 488 |
Other [member] | Amortization and impairment losses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | (178) | |
Effect of movements in foreign exchange | 1 | |
Amortization | (54) | |
Disposals | 9 | |
Transfer (to)/from other asset categories and other movements | 158 | |
Ending balance | (64) | (178) |
Other [member] | Acquisition cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 666 | |
Effect of movements in foreign exchange | 14 | |
Acquisitions through business combinations | 5 | |
Acquisitions and expenditures | 279 | |
Disposals | (81) | |
Transfer (to)/from other asset categories and other movements | (428) | |
Ending balance | $ 455 | $ 666 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about intangible assets [line items] | ||
Carrying amount of intangible assets | $ 41,527 | $ 42,452 |
Additional recognition, goodwill | 162 | 128 |
Impairment | (165) | 0 |
Intangible Assets With Indefinite Useful Life [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Carrying amount of intangible assets | 39,395 | 40,217 |
Intangible Assets With Finite Useful Life [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Carrying amount of intangible assets | $ 2,132 | $ 2,235 |
Intangible Assets - Summary o_2
Intangible Assets - Summary of Carrying Amount of Intangible Assets with Indefinite Useful Lives (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | $ 41,527 | $ 42,452 |
Intangible assets with indefinite useful lives [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 39,395 | 40,217 |
Intangible assets with indefinite useful lives [member] | United States [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 22,172 | 22,124 |
Intangible assets with indefinite useful lives [member] | Rest of North America [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 42 | 66 |
Intangible assets with indefinite useful lives [member] | Mexico [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 3,067 | 3,243 |
Intangible assets with indefinite useful lives [member] | Colombia [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 3,320 | 3,488 |
Intangible assets with indefinite useful lives [member] | Rest of Middle Americas [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 3,655 | 3,915 |
Intangible assets with indefinite useful lives [member] | Brazil [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 1 | 3 |
Intangible assets with indefinite useful lives [member] | Rest of South America [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 681 | 714 |
Intangible assets with indefinite useful lives [member] | Europe [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 461 | 489 |
Intangible assets with indefinite useful lives [member] | South Africa [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 3,289 | 3,417 |
Intangible assets with indefinite useful lives [member] | Rest of Africa [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 1,068 | 1,228 |
Intangible assets with indefinite useful lives [member] | China [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 427 | 410 |
Intangible assets with indefinite useful lives [member] | Rest of Asia Pacific [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | $ 1,212 | $ 1,120 |
Investment in Associates - Summ
Investment in Associates - Summarized Financial Information to Carrying Amount of Company's Interests in Material Associates (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
AB InBev Efes [member] | ||
Disclosure of associates [line items] | ||
Beginning balance | $ 1,133 | $ 1,159 |
Dividends received | (15) | |
Share of results of associates | 3 | (11) |
Ending balance | 1,135 | 1,133 |
Castel [member] | ||
Disclosure of associates [line items] | ||
Beginning balance | 3,239 | 3,279 |
Effect of movements in foreign exchange | 270 | (56) |
Dividends received | (19) | (95) |
Share of results of associates | 76 | 111 |
Ending balance | 3,566 | 3,239 |
Efes [member] | ||
Disclosure of associates [line items] | ||
Beginning balance | 451 | 479 |
Effect of movements in foreign exchange | (92) | (59) |
Dividends received | (11) | |
Share of results of associates | 32 | 42 |
Ending balance | $ 391 | $ 451 |
Investments in Associates - Add
Investments in Associates - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of associates [line items] | |||
Impairment of Investment | $ 15 | $ 188 | |
Aggregated individually immaterial associates [member] | |||
Disclosure of associates [line items] | |||
Investments in associates | $ 45 | $ 10 | $ 51 |
Investment in Associates - Su_2
Investment in Associates - Summarized Financial Information of the Company's Material Associates (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |||
Disclosure of summarized financial information [line items] | |||||
Current assets | $ 26,519 | $ 28,814 | |||
Non-current assets | 199,891 | 207,834 | |||
Current liabilities | (32,352) | (34,841) | |||
Non-current liabilities | (115,707) | (117,254) | |||
Non-controlling interests | 10,327 | 8,831 | |||
Net assets | 226,410 | 236,648 | |||
Revenue | 46,881 | 52,329 | $ 53,041 | [1] | |
Profit (loss) | 147 | 9,990 | [2] | 5,157 | [2],[3] |
Other comprehensive income (loss) | (10,104) | 498 | (7,756) | [4] | |
Total comprehensive income/(loss) | (7,901) | 10,912 | $ (2,068) | [4] | |
AB InBev Efes [member] | |||||
Disclosure of summarized financial information [line items] | |||||
Current assets | 351 | 377 | |||
Non-current assets | 603 | 767 | |||
Current liabilities | (591) | (652) | |||
Non-current liabilities | (75) | (109) | |||
Net assets | 288 | 383 | |||
Revenue | 1,276 | 1,388 | |||
Profit (loss) | (20) | 23 | |||
Total comprehensive income/(loss) | (20) | 23 | |||
Castel [member] | |||||
Disclosure of summarized financial information [line items] | |||||
Current assets | 4,048 | 4,044 | |||
Non-current assets | 3,775 | 4,255 | |||
Current liabilities | (1,531) | (1,631) | |||
Non-current liabilities | (671) | (743) | |||
Non-controlling interests | (687) | (723) | |||
Net assets | 4,934 | 5,201 | |||
Revenue | 4,879 | 5,107 | |||
Profit (loss) | 700 | 719 | |||
Other comprehensive income (loss) | (134) | (372) | |||
Total comprehensive income/(loss) | 566 | 347 | |||
Efes [member] | |||||
Disclosure of summarized financial information [line items] | |||||
Current assets | 2,156 | 2,266 | |||
Non-current assets | 4,642 | 5,618 | |||
Current liabilities | (1,639) | (1,859) | |||
Non-current liabilities | (1,852) | (1,986) | |||
Non-controlling interests | (1,627) | (1,909) | |||
Net assets | 1,679 | 2,130 | |||
Revenue | 3,847 | 4,015 | |||
Profit (loss) | 224 | 276 | |||
Other comprehensive income (loss) | 392 | (431) | |||
Total comprehensive income/(loss) | $ 617 | $ (155) | |||
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. | ||||
[2] | The consolidated statement of cash flows for 2019 and 2018 has been restated to include operating, investing and financing activities from discontinued operations separately in the cashflow statement. In addition, the 2019 cash flow from investing activities has been restated to reflect reclassification of the cash flow hedges in relation to the Australia divestiture reported in the financing activities in 2019 and recycled to profit or loss upon the completion of the transaction. | ||||
[3] | In 2019, the consolidated statement of cash flows for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. | ||||
[4] | In 2019, the consolidated statement of comprehensive income for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application. |
Investments Securities - Summar
Investments Securities - Summary of Investments in Short-Term Debt Securities (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [abstract] | ||
Investment in unquoted companies | $ 115 | $ 86 |
Investment on debt securities | 22 | 25 |
Non-current investments,Total | 137 | 110 |
Investment on debt securities | 396 | 91 |
Current investments,Total | $ 396 | $ 91 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Investment Securities [abstract] | ||
Current debt securities | $ 396 | $ 92 |
Deferred Tax Assets and Liabi_3
Deferred Tax Assets and Liabilities - Summary of Deferred Tax Assets and Liabilities by Type of Temporary Difference (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Deferred Taxes [line items] | |||
Assets | $ 2,019 | $ 1,719 | |
Liabilities | (12,627) | (12,824) | |
Net | (10,607) | (11,105) | $ (11,648) |
Netting by taxable entity, Assets | (1,771) | (1,631) | |
Netting by taxable entity, Liabilities | 1,771 | 1,631 | |
Net deferred tax assets/(liabilities), Assets | 2,019 | 1,719 | |
Net deferred tax assets/(liabilities), Liabilities | (12,627) | (12,824) | |
Property, Plant and Equipment [member] | |||
Disclosure Of Deferred Taxes [line items] | |||
Assets | 398 | 415 | |
Liabilities | (2,487) | (2,550) | |
Net | (2,089) | (2,135) | |
Intangibles [member] | |||
Disclosure Of Deferred Taxes [line items] | |||
Assets | 106 | 112 | |
Liabilities | (10,007) | (10,327) | |
Net | (9,901) | (10,215) | |
Inventory [member] | |||
Disclosure Of Deferred Taxes [line items] | |||
Assets | 86 | 119 | |
Liabilities | (65) | (67) | |
Net | 22 | 52 | |
Trades and Other Receivables [member] | |||
Disclosure Of Deferred Taxes [line items] | |||
Assets | 62 | 52 | |
Liabilities | (1) | ||
Net | 62 | 51 | |
Interest Bearing Loans and Borrowings [member] | |||
Disclosure Of Deferred Taxes [line items] | |||
Assets | 858 | 706 | |
Liabilities | (603) | (603) | |
Net | 255 | 103 | |
Employee Benefits [member] | |||
Disclosure Of Deferred Taxes [line items] | |||
Assets | 648 | 631 | |
Liabilities | (8) | (3) | |
Net | 640 | 628 | |
Provisions [member] | |||
Disclosure Of Deferred Taxes [line items] | |||
Assets | 525 | 467 | |
Liabilities | (30) | (22) | |
Net | 495 | 445 | |
Derivatives [member] | |||
Disclosure Of Deferred Taxes [line items] | |||
Assets | 13 | 23 | |
Liabilities | (46) | (21) | |
Net | (33) | 2 | |
Other Items [member] | |||
Disclosure Of Deferred Taxes [line items] | |||
Assets | 312 | 311 | |
Liabilities | (1,152) | (861) | |
Net | (840) | (550) | |
Loss Carry Forwards [member] | |||
Disclosure Of Deferred Taxes [line items] | |||
Assets | 782 | 515 | |
Net | 782 | 515 | |
Gross Deferred Tax Assets/(Liabilities) [member] | |||
Disclosure Of Deferred Taxes [line items] | |||
Assets | 3,790 | 3,350 | |
Liabilities | (14,398) | (14,455) | |
Net | $ (10,607) | $ (11,105) |
Deferred Tax Assets and Liabi_4
Deferred Tax Assets and Liabilities - Summary of Change in Net Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Deferred Taxes [line items] | |||
Beginning balance | $ (11,105) | $ (11,648) | |
Recognized in profit or loss | 32 | 19 | |
Recognized in other comprehensive income | 361 | 109 | $ 130 |
Acquisitions through business combinations | (6) | (18) | |
Reclassified as held for sale | (1) | 363 | |
Other movements and effect of changes in foreign exchange rates | 112 | 70 | |
Ending balance | $ (10,607) | (11,105) | (11,648) |
As Restated [member] | |||
Disclosure Of Deferred Taxes [line items] | |||
Beginning balance | $ (11,648) | (11,857) | |
Recognized in profit or loss | 95 | ||
Recognized in other comprehensive income | (130) | ||
Acquisitions through business combinations | (23) | ||
Other movements and effect of changes in foreign exchange rates | 267 | ||
Ending balance | $ (11,648) |
Deferred Tax Assets and Liabi_5
Deferred Tax Assets and Liabilities - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Components Of Deferred Tax Assets And Liabilities [line items] | |||
Tax losses carried forward and deductible temporary differences on which no deferred tax asset | $ 3,464 | $ 4,734 | $ 5,280 |
Tax losses | 1,082 | ||
Net deferred tax liabilities | 12,627 | $ 12,824 | |
Expiration period 1 [member] | |||
Disclosure Of Components Of Deferred Tax Assets And Liabilities [line items] | |||
Tax losses carried forward and deductible temporary differences | $ 303 | ||
Tax losses and deductible temporary differences expiration period | Year 1 | ||
Expiration period 2 [member] | |||
Disclosure Of Components Of Deferred Tax Assets And Liabilities [line items] | |||
Tax losses carried forward and deductible temporary differences | $ 221 | ||
Tax losses and deductible temporary differences expiration period | Year 2 | ||
Expiration period 3 [member] | |||
Disclosure Of Components Of Deferred Tax Assets And Liabilities [line items] | |||
Tax losses carried forward and deductible temporary differences | $ 239 | ||
Tax losses and deductible temporary differences expiration period | Year 3 | ||
Expiration period more than 3 [member] | |||
Disclosure Of Components Of Deferred Tax Assets And Liabilities [line items] | |||
Tax losses carried forward and deductible temporary differences | $ 1,618 | ||
Changes in tax rates or tax laws enacted or announced [member] | |||
Disclosure Of Components Of Deferred Tax Assets And Liabilities [line items] | |||
Net deferred tax liabilities | $ 6,600 |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Inventories other than work in progress | ||
Inventories stated at net realizable value | $ 214 | $ 171 |
Current Inventories [member] | ||
Disclosure of inventories [line items] | ||
Prepayments | 92 | 105 |
Raw materials and consumables | 2,499 | 2,478 |
Work in progress | 439 | 405 |
Finished goods | 1,256 | 1,257 |
Goods purchased for resale | 197 | 182 |
Inventories | $ 4,482 | $ 4,427 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Classes of current inventories [abstract] | ||||
Cost of inventories sales | $ 19,634 | $ 20,362 | $ 19,933 | [1] |
Impairment losses on inventories | $ 117 | $ 59 | $ 72 | |
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Trade and Other Receivables - S
Trade and Other Receivables - Schedule of Non-Current Trade and Other Receivables (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of trade and other receivables [abstract] | ||
Cash deposits for guarantees | $ 184 | $ 219 |
Loans to customers | 25 | 58 |
Tax receivable, other than income tax | 99 | 96 |
Brazilian tax credits and interest receivables | 997 | 70 |
Trade and other receivables | 357 | 363 |
Total, Non-Current | $ 1,661 | $ 807 |
Trade and Other Receivables -_2
Trade and Other Receivables - Schedule of Current Trade and Other Receivables (Detail) - Net carrying amount [member] - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | $ 3,284 | $ 4,046 |
Interest receivable | 4 | 21 |
Tax receivable, other than income tax | 552 | 821 |
Loans to customers | 117 | 119 |
Prepaid expenses | 354 | 563 |
Other receivables | 522 | 616 |
Current trade and other receivable | $ 4,833 | $ 6,187 |
Trade and Other Receivables -_3
Trade and Other Receivables - Schedule of Trade Receivables and Other Receivables (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Net carrying amount [member] | ||
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | $ 3,285 | $ 4,046 |
Loans to customers | 142 | 177 |
Interest receivable | 4 | 21 |
Other receivables | 522 | 616 |
Current trade and other receivable | 3,953 | 4,860 |
Neither Impaired Nor Past Due on the Reporting Date [member] | ||
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | 3,074 | 3,690 |
Loans to customers | 86 | 172 |
Interest receivable | 4 | 21 |
Other receivables | 416 | 582 |
Current trade and other receivable | 3,580 | 4,465 |
Not Impaired as of the Reporting Date and Past [member] | Less Than 30 Days [member] | ||
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | 155 | 261 |
Loans to customers | 3 | 1 |
Other receivables | 2 | 9 |
Current trade and other receivable | 161 | 271 |
Not Impaired as of the Reporting Date and Past [member] | 30 Between and 59 Day [member] | ||
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | 37 | 44 |
Loans to customers | 2 | 2 |
Other receivables | 16 | 16 |
Current trade and other receivable | 55 | 62 |
Not Impaired as of the Reporting Date and Past [member] | Between 60 and 89 Days [member] | ||
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | 10 | 44 |
Loans to customers | 50 | 2 |
Other receivables | 5 | 5 |
Current trade and other receivable | 66 | 51 |
Not Impaired as of the Reporting Date and Past [member] | More Than 90 Days [member] | ||
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | 8 | 7 |
Other receivables | 83 | 4 |
Current trade and other receivable | $ 91 | $ 11 |
Trade and Other Receivables - A
Trade and Other Receivables - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of inventories [line items] | |||
Brazilian tax credits and interest receivables | $ 997 | $ 70 | |
Trade receivables [member] | |||
Disclosure of inventories [line items] | |||
Impairment losses | $ 99 | $ 51 | $ 43 |
Cash and Cash Equivalents and_3
Cash and Cash Equivalents and Investment Securities - Summary of Cash and Cash Equivalents and Investments in Short-Term Debt Securities (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | [1],[2] | Dec. 31, 2017 | [1],[2] | |
Disclosure of detailed information about borrowings [abstract] | |||||||
Short-term bank deposits | $ 3,319 | $ 2,236 | |||||
Treasury Bills | 6,800 | ||||||
Cash and bank accounts | 5,132 | 5,002 | |||||
Cash and cash equivalents | 15,252 | 7,238 | |||||
Bank overdrafts | (5) | (68) | |||||
Total | $ 15,247 | $ 7,169 | [1] | $ 6,960 | $ 10,356 | ||
[1] | The consolidated statement of cash flows for 2019 and 2018 has been restated to include operating, investing and financing activities from discontinued operations separately in the cashflow statement. In addition, the 2019 cash flow from investing activities has been restated to reflect reclassification of the cash flow hedges in relation to the Australia divestiture reported in the financing activities in 2019 and recycled to profit or loss upon the completion of the transaction. | ||||||
[2] | In 2019, the consolidated statement of cash flows for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Cash and Cash Equivalents and_4
Cash and Cash Equivalents and Investment Securities - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | ||
Restricted cash | $ 84 | $ 78 |
Amounts deposited on a blocked account | 83 | |
Share Holder [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Cash acquired in business combination | $ 1 |
Assets Classified as Held for_3
Assets Classified as Held for Sale, Liabilities Associated With Assets Held for Sale and Discontinued Operations - Schedule of Assets Held for Sale (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of Assets and Liabilities of Disposal Groups Classified as Held for Sale [abstract] | ||
Balance at the end of previous year | $ 10,013 | $ 39 |
Reclassified to assets held for sale in the period | 210 | 9,692 |
Disposals | (9,665) | (59) |
Effect of movements in foreign exchange | (484) | 341 |
Balance at the end of year | $ 74 | $ 10,013 |
Assets Classified as Held for_4
Assets Classified as Held for Sale, Liabilities Associated With Assets Held for Sale and Discontinued Operations - Summary of Liabilities Associated With Assets Held for Sale (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of Assets and Liabilities of Disposal Groups Classified as Held for Sale [abstract] | ||
Balance at the end of previous year | $ 1,145 | |
Reclassified to liabilities associated with assets held for sale | (46) | $ 1,106 |
Disposals | (1,044) | |
Effect of movements in foreign exchange | $ (55) | 39 |
Balance at the end of year | $ 1,145 |
Assets Classified as Held for_5
Assets Classified as Held for Sale, Liabilities Associated With Assets Held for Sale and Discontinued Operations - Additional Information (Detail) $ in Millions, $ in Billions | Jun. 01, 2020USD ($) | Jul. 19, 2019AUD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | [2] | |
Disclosure of Assets Classified as Held for Sale and Discontinued Operations [line items] | |||||||
Sale of Subsidiary company | [1] | $ 133 | $ 257 | ||||
Disposal of net Asset | $ 210 | 9,692 | |||||
Derecognisition of net asset | 9,665 | 59 | |||||
Effect of movements in foreign exchange | (484) | $ 341 | |||||
Gain on disposal of asset | $ 1,919 | $ 1,900 | |||||
Australia [member] | |||||||
Disclosure of Assets Classified as Held for Sale and Discontinued Operations [line items] | |||||||
Disposal of net Asset | 10,800 | ||||||
Derecognisition of net asset | (8,500) | ||||||
Effect of movements in foreign exchange | (400) | ||||||
Gain on disposal of asset | $ 1,900 | ||||||
Asahi [Member] | |||||||
Disclosure of Assets Classified as Held for Sale and Discontinued Operations [line items] | |||||||
Sale of Subsidiary company | $ 16 | ||||||
[1] | The consolidated statement of cash flows for 2019 and 2018 has been restated to include operating, investing and financing activities from discontinued operations separately in the cashflow statement. In addition, the 2019 cash flow from investing activities has been restated to reflect reclassification of the cash flow hedges in relation to the Australia divestiture reported in the financing activities in 2019 and recycled to profit or loss upon the completion of the transaction. | ||||||
[2] | In 2019, the consolidated statement of cash flows for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Assets classified as held for_6
Assets classified as held for sale, liabilities associated with assets held for sale and discontinued operations - Asset And liabilities Held For Sale (Detail) - USD ($) $ in Millions | Jun. 01, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | |||
Property, plant and equipment | $ 581 | $ 625 | |
Goodwill and intangible assets | 8,584 | 9,030 | |
Other assets | 371 | 310 | |
Assets classified as held for sale | 9,537 | 9,965 | |
Liabilities | |||
Trade and other payables | (581) | (659) | |
Deferred tax liabilities | (363) | (380) | |
Other liabilities | (101) | (106) | |
Liabilities associated with assets held for sale | (1,044) | $ (1,145) | |
Net assets disposed of | 8,493 | ||
Exceptional gain on divestiture of Australia (discontinued operations) | 1,919 | $ 1,900 | |
Recycling of CTA and cashflow hedges | 426 | ||
Consideration received | $ 10,838 |
Assets classified as held for_7
Assets classified as held for sale, liabilities associated with assets held for sale and discontinued operations - Results From Discontinued Operations (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |||
Disclosure of Assets Classified as Held for Sale and Discontinued Operations [line items] | |||||
Revenue | $ 46,881 | $ 52,329 | $ 53,041 | [1] | |
Profit from continuing operations | 147 | 9,990 | [2] | 5,157 | [2],[3] |
Profit from discontinued operations | 2,055 | 424 | 531 | [1] | |
Australia [member] | |||||
Disclosure of Assets Classified as Held for Sale and Discontinued Operations [line items] | |||||
Revenue | 477 | 1,394 | 1,577 | ||
Profit from continuing operations | 178 | 632 | 775 | ||
Profit from discontinued operations | $ 136 | $ 424 | $ 531 | ||
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. | ||||
[2] | The consolidated statement of cash flows for 2019 and 2018 has been restated to include operating, investing and financing activities from discontinued operations separately in the cashflow statement. In addition, the 2019 cash flow from investing activities has been restated to reflect reclassification of the cash flow hedges in relation to the Australia divestiture reported in the financing activities in 2019 and recycled to profit or loss upon the completion of the transaction. | ||||
[3] | In 2019, the consolidated statement of cash flows for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Assets classified as held for_8
Assets classified as held for sale, liabilities associated with assets held for sale and discontinued operations - Cash Flow From Discontinued Operations (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |||
Disclosure of Assets Classified as Held for Sale and Discontinued Operations [line items] | |||||
Cash flow from operating activities | $ 84 | $ 640 | [1] | $ 883 | [1],[2] |
Cash flow from investing activities | (13) | (77) | [1] | (109) | [1],[2] |
Cash flow from financing activities | (6) | (24) | [1] | (19) | [1],[2] |
Australia [member] | |||||
Disclosure of Assets Classified as Held for Sale and Discontinued Operations [line items] | |||||
Cash flow from operating activities | 84 | 640 | 883 | ||
Cash flow from investing activities | 10,838 | 219 | |||
Cash flow from financing activities | (6) | (24) | (19) | ||
Net increase in cash and cash equivalents | $ 10,903 | $ 758 | $ 755 | ||
[1] | The consolidated statement of cash flows for 2019 and 2018 has been restated to include operating, investing and financing activities from discontinued operations separately in the cashflow statement. In addition, the 2019 cash flow from investing activities has been restated to reflect reclassification of the cash flow hedges in relation to the Australia divestiture reported in the financing activities in 2019 and recycled to profit or loss upon the completion of the transaction. | ||||
[2] | In 2019, the consolidated statement of cash flows for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Changes in Equity and Earning_3
Changes in Equity and Earnings per Share - Summary of Changes in Issued Capital and Treasury Shares (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | [1] | |
Disclosure of classes of share capital [line items] | ||||
At the end of the previous year | 2,019,000,000 | |||
Changes during the period | 0 | |||
At the end of the current year | 2,019,000,000 | 2,019,000,000 | ||
Ordinary shares | 2,019,000,000 | 2,019,000,000 | ||
At the end of the previous year | $ 1,736 | |||
Changes during the period | 0 | |||
At the end of the current year | 1,736 | $ 1,736 | ||
Changes during the period | $ 385 | |||
Ordinary shares [member] | ||||
Disclosure of classes of share capital [line items] | ||||
At the end of the current year | 1,693,000,000 | |||
Ordinary shares | 1,693,000,000 | |||
Treasury shares [member] | ||||
Disclosure of classes of share capital [line items] | ||||
At the end of the current year | 46,992,567 | |||
Ordinary shares | 46,992,567 | |||
Restricted shares | 325,999,817 | |||
At the end of the previous year | 59,900,000 | |||
Changes during the period | (12,900,000) | |||
At the end of the current year | 47,000,000 | 59,900,000 | ||
Result on the use of treasury shares [member] | ||||
Disclosure of classes of share capital [line items] | ||||
At the end of the previous year | $ (2,556) | |||
Changes during the period | (974) | |||
At the end of the current year | (3,530) | $ (2,556) | ||
Treasury shares [member] | ||||
Disclosure of classes of share capital [line items] | ||||
At the end of the previous year | (6,270) | |||
Changes during the period | 1,359 | 279 | $ 2,431 | |
At the end of the current year | $ (4,911) | $ (6,270) | ||
[1] | See Note 23 Changes in equity and earnings per share. |
Changes in Equity and Earning_4
Changes in Equity and Earnings per Share - Additional Information (Detail) | Feb. 24, 2021EUR (€)€ / shares | Jun. 01, 2020USD ($) | Oct. 24, 2019EUR (€)€ / shares | Oct. 24, 2018EUR (€)€ / shares | May 03, 2018USD ($) | May 03, 2018€ / shares | Jun. 05, 2013USD ($) | Sep. 30, 2019USD ($)shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2019EUR (€)€ / shares | Dec. 31, 2018USD ($)shares | Dec. 31, 2018EUR (€)€ / sharesshares | Dec. 31, 2020EUR (€)€ / sharesshares | ||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Issued capital | $ 1,736,000,000 | $ 1,736,000,000 | ||||||||||||||
Number of shares issued | shares | 1,959,000,000 | 1,957,000,000 | 1,934,000,000 | 1,934,000,000 | 1,959,000,000 | |||||||||||
Number of shares outstanding | shares | 2,019,000,000 | 2,019,000,000 | 2,019,000,000 | |||||||||||||
Dividend declared per share | € / shares | € 0.80 | € 0.80 | ||||||||||||||
Dividend declared | € | € 1,588,000,000 | € 1,565,000,000 | ||||||||||||||
Dividend declared date | Feb. 24, 2021 | Oct. 24, 2019 | Oct. 24, 2019 | Oct. 24, 2018 | Oct. 24, 2018 | |||||||||||
Dividend proposed per share | € / shares | € 50 | € 1 | ||||||||||||||
Dividend proposed | € | € 1,002,000,000 | € 1,978,000,000 | ||||||||||||||
Dividend paid per share | € / shares | € 1.30 | € 1.80 | ||||||||||||||
Dividend paid | $ 1,923,000,000 | $ 5,179,000,000 | € 2,590,000,000 | $ 7,437,000,000 | € 3,557,000,000 | |||||||||||
Dividend paid date | Apr. 28, 2021 | Jun. 11, 2020 | Jun. 11, 2020 | May 9, 2019 | May 9, 2019 | |||||||||||
Shares reserved for issue under options and contracts for sale of shares | shares | 23,076,922 | 23,076,922 | ||||||||||||||
Deferred share units vesting period | 5 years | |||||||||||||||
Profit attributable to equity holders | $ 1,405,000,000 | $ 9,171,000,000 | $ 4,370,000,000 | |||||||||||||
Diluted earnings per share based on the profit | $ 1,405,000,000 | $ 9,171,000,000 | $ 4,370,000,000 | |||||||||||||
Number of antidilutive share options outstanding | 76,000,000 | 59,000,000 | 63,000,000 | 63,000,000 | 76,000,000 | |||||||||||
Recycled of cash flow hedge | $ 739,000,000 | $ 182,000,000 | $ 512,000,000 | [1] | ||||||||||||
Exchange differences on translation of foreign operations (gains/(losses)) | 10,473,000,000 | (790,000,000) | 7,802,000,000 | |||||||||||||
Sale/(purchase) of non-controlling interests | $ 2,985,000,000 | [2] | $ 5,805,000,000 | |||||||||||||
Dividend Proposed [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Dividend proposed per share | € / shares | € 50 | |||||||||||||||
Dividend proposed | € | € 1,003,000,000 | |||||||||||||||
Apollo Global Management Inc [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Percentage of minority interest sold | 49.9 | 49.9 | ||||||||||||||
Proceeds from sales of investments accounted for using equity method | $ 3,000,000,000 | |||||||||||||||
Australia Divestiture [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Recycled of cash flow hedge | $ 370,000,000 | |||||||||||||||
IPO [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of shares issued | shares | 1,669,459,000 | |||||||||||||||
Budweiser APAC [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Controlling interest on Subsidiary company | 87.22% | 87.22% | 87.22% | 87.22% | ||||||||||||
Proceeds from issuing shares | $ 5,600,000,000 | |||||||||||||||
Increase in equity | 4,400,000,000 | |||||||||||||||
Increase in non-controlling interest | $ 1,200,000,000 | |||||||||||||||
Percentage interest held by noncontrolling owners | 12.78% | |||||||||||||||
Treasury shares [member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Restricted shares | shares | 325,999,817 | |||||||||||||||
Number of shares outstanding | shares | 46,992,567 | 46,992,567 | ||||||||||||||
Par value per share | € / shares | € 0.61 | |||||||||||||||
Subscribed capital | $ 35,175,372 | € 28,665,466 | ||||||||||||||
Number Of Treasury Shares Reimbursed | shares | 9,520,966 | 9,520,966 | ||||||||||||||
Hong Kong Public Offering [Member] | IPO [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of shares issued | shares | 72,586,000 | |||||||||||||||
International Offering [Member] | IPO [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of shares issued | shares | 1,379,118,000 | |||||||||||||||
International Underwriters [Member] | IPO [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of shares issued | shares | 217,755,000 | |||||||||||||||
Grupo Modelo [member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Dividend paid per share | € / shares | € 2 | |||||||||||||||
Dividend paid | $ 56,000,000 | |||||||||||||||
Proceeds from issuing shares | $ 1,500,000,000 | |||||||||||||||
Reserves [member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Sale/(purchase) of non-controlling interests | $ 1,116,000,000 | [2] | $ 4,378,000,000 | |||||||||||||
Non-controlling interests [member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Dividend paid | 804,000,000 | 1,062,000,000 | 1,123,000,000 | |||||||||||||
Exchange differences on translation of foreign operations (gains/(losses)) | 529,000,000 | 353,000,000 | 429,000,000 | |||||||||||||
Sale/(purchase) of non-controlling interests | 1,869,000,000 | [2] | 1,427,000,000 | (429,000,000) | ||||||||||||
Equity attributable to owners of parent [member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Dividend paid | 1,118,000,000 | 4,117,000,000 | 6,314,000,000 | |||||||||||||
Exchange differences on translation of foreign operations (gains/(losses)) | 9,943,000,000 | (1,143,000,000) | 7,374,000,000 | |||||||||||||
Sale/(purchase) of non-controlling interests | $ 1,116,000,000 | [2] | $ 4,378,000,000 | $ 429,000,000 | ||||||||||||
Top of range [member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Tax withholding percentage | 15.00% | |||||||||||||||
Parent [member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Issued capital | $ 1,736,000,000 | |||||||||||||||
Equity shares | shares | 46,992,567 | 46,992,567 | ||||||||||||||
Number of shares authorized | shares | 2,019,241,973 | 2,019,241,973 | ||||||||||||||
Number of shares outstanding | € | € 37,000,000 | |||||||||||||||
Parent [member] | Stock Lending Arrangements [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of shares issued | shares | 30,000,000 | 30,000,000 | ||||||||||||||
Parent [member] | Treasury shares [member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of shares outstanding | shares | 38,779,160 | 38,779,160 | ||||||||||||||
Parent [member] | Subscribed Capital [Member] | Treasury shares [member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Issued capital | $ 7,126,734 | € 5,807,966 | ||||||||||||||
[1] | In 2019, the consolidated statement of comprehensive income for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application. | |||||||||||||||
[2] | The 2020 sale of non-controlling interest relates to the issuance of a 49.9% minority stake in the company’s US-based metal container operations completed in December 2020 (refer to Note 23 Changes in equity and earnings per share for more details). |
Changes in Equity and Earning_5
Changes in Equity and Earnings Per Share - Summary of Changes in Other Comprehensive Income Reserves (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |||
Other comprehensive income/(loss) | |||||
Exchange differences on translation of foreign operations (gains/(losses)) | $ (10,473) | $ 790 | $ (7,802) | ||
Cash flow hedges | 206 | (110) | (52) | ||
Cash flow hedges and cumulative translation adjustments reclassified from equity to profit or loss in relation to Australia divestiture | 426 | ||||
Re-measurements of post-employment benefits | (263) | (182) | 99 | [1] | |
Total comprehensive income/(loss) | (7,901) | 10,912 | (2,068) | [1] | |
Translation reserves [member] | |||||
Disclosure of information about changes in other comprehensive income reserves [line items] | |||||
Beginning balance | (19,936) | (21,079) | (13,705) | ||
Other comprehensive income/(loss) | |||||
Exchange differences on translation of foreign operations (gains/(losses)) | (9,943) | 1,143 | (7,374) | ||
Cash flow hedges and cumulative translation adjustments reclassified from equity to profit or loss in relation to Australia divestiture | 645 | ||||
Total comprehensive income/(loss) | (9,298) | 1,143 | (7,374) | ||
Ending balance | (29,234) | (19,936) | (21,079) | ||
Hedging reserves [member] | |||||
Disclosure of information about changes in other comprehensive income reserves [line items] | |||||
Beginning balance | 397 | 494 | 586 | ||
Other comprehensive income/(loss) | |||||
Cash flow hedges | 198 | (97) | (92) | ||
Cash flow hedges and cumulative translation adjustments reclassified from equity to profit or loss in relation to Australia divestiture | (219) | ||||
Total comprehensive income/(loss) | (21) | (97) | (92) | ||
Ending balance | 376 | 397 | 494 | ||
Post- employment benefits [member] | |||||
Disclosure of information about changes in other comprehensive income reserves [line items] | |||||
Beginning balance | (1,740) | (1,567) | (1,665) | ||
Other comprehensive income/(loss) | |||||
Re-measurements of post-employment benefits | (243) | (173) | 98 | ||
Total comprehensive income/(loss) | (243) | (173) | 98 | ||
Ending balance | (1,983) | (1,740) | (1,567) | ||
OCI reserves [member] | |||||
Disclosure of information about changes in other comprehensive income reserves [line items] | |||||
Beginning balance | (21,279) | (22,152) | (14,784) | ||
Other comprehensive income/(loss) | |||||
Exchange differences on translation of foreign operations (gains/(losses)) | [2] | (9,943) | 1,143 | (7,374) | |
Cash flow hedges | [2] | 198 | (97) | (92) | |
Cash flow hedges and cumulative translation adjustments reclassified from equity to profit or loss in relation to Australia divestiture | [2] | 426 | |||
Re-measurements of post-employment benefits | [2] | (243) | (173) | 98 | |
Total comprehensive income/(loss) | [2] | (9,562) | 873 | (7,368) | |
Ending balance | $ (30,841) | $ (21,279) | $ (22,152) | ||
[1] | In 2019, the consolidated statement of comprehensive income for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application. | ||||
[2] | See Note 23 Changes in equity and earnings per share. |
Changes in Equity and Earning_6
Changes in Equity and Earnings Per Share - Summary of Weighted Average Number of Ordinary and Restricted Shares (Detail) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of information about weighted average number of ordinary and restricted shares outstanding [line items] | ||||
Issued ordinary and restricted shares at 1 January, net of treasury shares | 1,959 | 1,957 | 1,934 | |
Effect of stock lending | 30 | 25 | 18 | |
Effect of undelivered shares under the deferred share instrument | 9 | |||
Effect of delivery of treasury shares | 9 | 2 | 14 | |
Weighted average number of ordinary and restricted shares at 31 December | 1,998 | 1,984 | 1,975 | |
Effect of share options, warrants and restricted stock units | 39 | 42 | 36 | |
Weighted average number of ordinary and restricted shares (diluted) at 31 December | 1,998 | 2,026 | 2,011 | |
Profit before exceptional items and discontinued operations, attributable to equity holders of AB InBev | $ 3,807 | $ 8,086 | $ 6,248 | |
Exceptional items, before taxes (refer to Note 8) | (3,103) | (323) | (692) | |
Exceptional finance income/(cost), before taxes (refer to Note 11) | (1,738) | 882 | (1,982) | |
Exceptional taxes (refer to Note 8) | 155 | (6) | 233 | |
Exceptional non-controlling interest (refer to Note 8) | 228 | 108 | 32 | |
Profit from discontinued operations (refer to Note 22) | 2,055 | 424 | 531 | [1] |
Profit attributable to equity holders of AB InBev | 1,405 | 9,171 | 4,370 | [1] |
Profit before exceptional items, discontinued operations, mark-to-market gains/losses and hyperinflation impacts, attributable to equity holders of AB InBev | 5,022 | 7,196 | 8,099 | |
Mark-to-market (losses)/gains on certain derivatives related to the hedging of share-based payment programs (refer to Note 11) | (1,211) | 898 | (1,774) | |
Hyperinflation impacts | (4) | (7) | (77) | |
Profit before exceptional items and discontinued operations, attributable to equity holders of AB InBev | $ 3,807 | $ 8,086 | $ 6,248 | |
Ordinary restricted shares [member] | ||||
Disclosure of information about weighted average number of ordinary and restricted shares outstanding [line items] | ||||
Weighted average number of ordinary and restricted shares at 31 December | 1,998 | 1,984 | 1,975 | |
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Changes in Equity and Earning_7
Changes in Equity and Earnings Per Share - Summary of EPS (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Earnings per share [abstract] | ||||
Profit attributable to equity holders of AB InBev | $ 1,405 | $ 9,171 | $ 4,370 | |
Weighted average number of ordinary and restricted shares | 1,998 | 1,984 | 1,975 | |
Basic EPS from continuing and discontinued operations | $ 0.70 | $ 4.62 | $ 2.21 | [1] |
Profit from continuing operations attributable to equity holders of AB InBev | $ (650) | $ 8,748 | $ 3,839 | |
Weighted average number of ordinary and restricted shares | 1,998 | 1,984 | 1,975 | |
Basic EPS from continuing operations | $ (0.33) | $ 4.41 | $ 1.94 | [1] |
Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev | $ 3,807 | $ 8,086 | $ 6,248 | |
Weighted average number of ordinary and restricted shares | 1,998 | 1,984 | 1,975 | |
Basic EPS from continuing operations before exceptional items | $ 1.91 | $ 4.08 | $ 3.16 | |
Profit before exceptional items, discontinued operations, mark-to-market gains/losses and hyperinflation impacts, attributable to equity holders of AB InBev | $ 5,022 | $ 7,196 | $ 8,099 | |
Weighted average number of ordinary and restricted shares | 1,998 | 1,984 | 1,975 | |
Underlying EPS | $ 2.51 | $ 3.63 | $ 4.10 | |
Profit attributable to equity holders of AB InBev | $ 1,405 | $ 9,171 | $ 4,370 | |
Weighted average number of ordinary and restricted shares (diluted) | 2,037 | 2,026 | 2,011 | |
Diluted EPS from continuing and discontinued operations | $ 0.69 | $ 4.53 | $ 2.17 | [1] |
Profit from continuing operations attributable to equity holders of AB InBev | $ (650) | $ 8,748 | $ 3,839 | |
Weighted average number of ordinary and restricted shares (diluted) | 1,998 | 2,026 | 2,011 | |
Diluted EPS from continuing operations | $ (0.33) | $ 4.32 | $ 1.91 | [1] |
Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev | $ 3,807 | $ 8,086 | $ 6,248 | |
Weighted average number of ordinary and restricted shares (diluted) | 2,037 | 2,026 | 2,011 | |
Diluted EPS from continuing operations before exceptional items | $ 1.87 | $ 3.99 | $ 3.11 | |
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Interest-Bearing Loans and Bo_3
Interest-Bearing Loans and Borrowings - Summary of Interest-bearing Loans and Borrowings (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
CURRENT LIABILITIES | ||
Commercial papers | $ 1,500 | $ 16,000 |
Non-Current Liabilities [Member] | ||
NON-CURRENT LIABILITIES | ||
Secured bank loans | 46 | 71 |
Unsecured bank loans | 50 | |
Unsecured bond issues | 93,523 | 95,674 |
Unsecured other loans | 73 | 77 |
Finance lease liabilities | 1,837 | 1,692 |
Non-current interest-bearing loans and borrowings | 95,478 | 97,564 |
Current Liabilities [member] | ||
CURRENT LIABILITIES | ||
Secured bank loans | 656 | 790 |
Commercial papers | 1,522 | 1,599 |
Unsecured bank loans | 294 | 135 |
Unsecured bond issues | 202 | 2,532 |
Unsecured other loans | 10 | 20 |
Finance lease liabilities | 397 | 333 |
Current interest-bearing loans and borrowings | $ 3,081 | $ 5,410 |
Interest-Bearing Loans and Bo_4
Interest-Bearing Loans and Borrowings - Additional Information (Detail) $ in Millions, € in Billions | Feb. 18, 2021USD ($) | Mar. 31, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | [1],[2] | Dec. 31, 2020EUR (€) | |
Disclosure of detailed information about borrowings [line items] | ||||||||
Commercial papers | $ 1,500 | $ 16,000 | ||||||
Commercial papers authorized amount | 5,000 | € 3 | ||||||
Payments of dividends | 1,800 | 5,015 | [1] | $ 7,761 | ||||
Revolving Credit Facility [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Repayment of revolving credit facility | $ 9,000 | $ 9,000 | ||||||
Major Borrowings [Member] | Sustainable-Linked Loan Revolving Credit Facility [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Notional amount | $ 10,100 | |||||||
Borrowings, maturity | five-year | |||||||
Anheuser-Busch InBev Finance Inc., Anheuser-Busch InBev Worldwide Inc. and Anheuser-Busch InBev NV/SA [member] | Seven series senior notes [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Borrowings Principal Amount Outstanding Purchased | 3,000 | |||||||
Anheuser-Busch InBev Finance Inc., Anheuser-Busch InBev Worldwide Inc. and Anheuser-Busch InBev NV/SA [member] | Six series senior notes [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Redemption of outstanding principal amount | 21,000 | |||||||
AB InBevs Asia Pacific [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Proceeds from issuing shares | 10,800 | |||||||
Payments of dividends | 18,000 | |||||||
Ambev [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Net increased decreased debt | 82,700 | 95,500 | ||||||
Payment of interests and taxes | 6,400 | |||||||
Impact of changes in foreign exchange rates | 3,400 | |||||||
Settlement of derivatives | 700 | |||||||
AB inBev [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Current and non-current interest-bearing loans and borrowings | 986,000 | $ 1,030,000 | ||||||
Apollo Global Management Inc [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Proceeds from sales of investments accounted for using equity method | $ 3,000 | |||||||
Percentage of minority interest sold | 49.9 | 49.9 | ||||||
Anheuser-Busch North American Holding Corporation [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Borrowings Principal Amount Outstanding Purchased | $ 10,000 | |||||||
[1] | The consolidated statement of cash flows for 2019 and 2018 has been restated to include operating, investing and financing activities from discontinued operations separately in the cashflow statement. In addition, the 2019 cash flow from investing activities has been restated to reflect reclassification of the cash flow hedges in relation to the Australia divestiture reported in the financing activities in 2019 and recycled to profit or loss upon the completion of the transaction. | |||||||
[2] | In 2019, the consolidated statement of cash flows for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Interest-Bearing Loans and Bo_5
Interest-Bearing Loans and Borrowings - Summary of Series of Bonds (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Anheuser-Busch InBev NV/SA 2.125% [member] | |
Disclosure of detailed information about borrowings [line items] | |
Issue date | 2 April 2020 |
Aggregate principal amount | $ 1,000 |
Currency | EUR |
Interest rate | 2.125% |
Maturity date | 2 December 2027 |
Name of issuer | ABISA |
Anheuser-Busch InBev NV/SA 2.875% [member] | |
Disclosure of detailed information about borrowings [line items] | |
Issue date | 2 April 2020 |
Aggregate principal amount | $ 1,750 |
Currency | EUR |
Interest rate | 2.875% |
Maturity date | 2 April 2032 |
Name of issuer | ABISA |
Anheuser-Busch InBev NV/SA 3.700% [member] | |
Disclosure of detailed information about borrowings [line items] | |
Issue date | 2 April 2020 |
Aggregate principal amount | $ 1,750 |
Currency | EUR |
Interest rate | 3.70% |
Maturity date | 2 April 2040 |
Name of issuer | ABISA |
Anheuser-Busch InBev Worlswide Inc. 3.500% [member] | |
Disclosure of detailed information about borrowings [line items] | |
Issue date | 3 April 2020 |
Aggregate principal amount | $ 1,750 |
Currency | USD |
Interest rate | 3.50% |
Maturity date | 1 June 2030 |
Name of issuer | ABIWW |
Anheuser-Busch InBev Worlswide Inc. 4.350% [member] | |
Disclosure of detailed information about borrowings [line items] | |
Issue date | 3 April 2020 |
Aggregate principal amount | $ 1,000 |
Currency | USD |
Interest rate | 4.35% |
Maturity date | 1 June 2040 |
Name of issuer | ABIWW |
Anheuser-Busch InBev Worlswide Inc. 4.500% [member] | |
Disclosure of detailed information about borrowings [line items] | |
Issue date | 3 April 2020 |
Aggregate principal amount | $ 2,250 |
Currency | USD |
Interest rate | 4.50% |
Maturity date | 1 June 2050 |
Name of issuer | ABIWW |
Anheuser-Busch InBev Worlswide Inc. 4.600% [member] | |
Disclosure of detailed information about borrowings [line items] | |
Issue date | 3 April 2020 |
Aggregate principal amount | $ 1,000 |
Currency | USD |
Interest rate | 4.60% |
Maturity date | 1 June 2060 |
Name of issuer | ABIWW |
Interest-Bearing Loans and Bo_6
Interest-Bearing Loans and Borrowings - Summary of Exchange Offers (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Floating Rate Notes due 2024 [member] | 17 September 2020 [Member] | ABISA [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Sep. 17, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged due maturity period | Floating rate notes due 2024 |
Original principal amount outstanding | $ 1,500 |
Principal amount redeemed | 517 |
Principal amount not redeemed | $ 983 |
Currency | EUR |
Floating Rate Notes due 2024 [member] | 17 September 2020 [Member] | ABIWW [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Sep. 17, 2020 |
Issuer | ABIWW |
Title of series of notes issued exchanged due maturity period | Floating rate notes due 2024 |
Original principal amount outstanding | $ 229 |
Principal amount redeemed | 113 |
Principal amount not redeemed | $ 116 |
Currency | USD |
3.500% Notes due 2024 [member] | 17 September 2020 [Member] | ABIWW [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Sep. 17, 2020 |
Issuer | ABIWW |
Title of series of notes issued exchanged percentage | 3.50% |
Title of series of notes issued exchanged due maturity period | Notes due 2024 |
Original principal amount outstanding | $ 654 |
Principal amount redeemed | 404 |
Principal amount not redeemed | $ 250 |
Currency | USD |
3.700% Notes due 2024 [member] | 17 September 2020 [Member] | ABIFI [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Sep. 17, 2020 |
Issuer | ABIFI |
Title of series of notes issued exchanged percentage | 3.70% |
Title of series of notes issued exchanged due maturity period | Notes due 2024 |
Original principal amount outstanding | $ 865 |
Principal amount redeemed | 376 |
Principal amount not redeemed | $ 489 |
Currency | USD |
4.000% Notes due 2021 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Dec. 3, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 4.00% |
Title of series of notes issued exchanged due maturity period | Notes due 2021 |
Original principal amount outstanding | $ 519 |
Currency | EUR |
4.000% Notes due 2021 [member] | 7 July 2020 [Member] | ABISA [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Jul. 7, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 4.00% |
Title of series of notes issued exchanged due maturity period | Notes due 2021 |
Original principal amount outstanding | $ 750 |
Principal amount redeemed | 231 |
Principal amount not redeemed | $ 519 |
Currency | EUR |
1.950% Notes due 2021 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Oct. 8, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 1.95% |
Title of series of notes issued exchanged due maturity period | Notes due 2021 |
Original principal amount outstanding | $ 527 |
Currency | EUR |
1.950% Notes due 2021 [member] | 7 July 2020 [Member] | ABISA [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Jul. 7, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 1.95% |
Title of series of notes issued exchanged due maturity period | Notes due 2021 |
Original principal amount outstanding | $ 650 |
Principal amount redeemed | 123 |
Principal amount not redeemed | $ 527 |
Currency | EUR |
0.875% Notes due 2022 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Oct. 8, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 0.875% |
Title of series of notes issued exchanged due maturity period | Notes due 2022 |
Original principal amount outstanding | $ 1,644 |
Currency | EUR |
0.875% Notes due 2022 [member] | 7 July 2020 [Member] | ABISA [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Jul. 7, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 0.875% |
Title of series of notes issued exchanged due maturity period | Notes due 2022 |
Original principal amount outstanding | $ 2,000 |
Principal amount redeemed | 356 |
Principal amount not redeemed | $ 1,644 |
Currency | EUR |
0.800% Notes due 2023 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Dec. 3, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 0.80% |
Title of series of notes issued exchanged due maturity period | Notes due 2023 |
Original principal amount outstanding | $ 644 |
Currency | EUR |
0.800% Notes due 2023 [member] | 7 July 2020 [Member] | ABISA [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Jul. 7, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 0.80% |
Title of series of notes issued exchanged due maturity period | Notes due 2023 |
Original principal amount outstanding | $ 1,000 |
Principal amount redeemed | 356 |
Principal amount not redeemed | $ 644 |
Currency | EUR |
Floating Rate Notes due 2021 [member] | 7 July 2020 [Member] | ABIFI [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Jul. 7, 2020 |
Issuer | ABIFI |
Title of series of notes issued exchanged due maturity period | Floating Rate Notes due 2021 |
Original principal amount outstanding | $ 311 |
Principal amount redeemed | 129 |
Principal amount not redeemed | $ 182 |
Currency | USD |
2.625% Notes due 2023 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Dec. 16, 2020 |
Issuer | ABIFI |
Title of series of notes issued exchanged percentage | 2.625% |
Title of series of notes issued exchanged due maturity period | Notes due 2023 |
Original principal amount outstanding | $ 476 |
Currency | USD |
2.625% Notes due 2023 [member] | 7 July 2020 [Member] | ABIFI [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Jul. 7, 2020 |
Issuer | ABIFI |
Title of series of notes issued exchanged percentage | 2.625% |
Title of series of notes issued exchanged due maturity period | Notes due 2023 |
Original principal amount outstanding | $ 643 |
Principal amount redeemed | 167 |
Principal amount not redeemed | $ 476 |
Currency | USD |
3.300% Notes due 2023 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Dec. 16, 2020 |
Issuer | ABIFI |
Title of series of notes issued exchanged percentage | 3.30% |
Title of series of notes issued exchanged due maturity period | Notes due 2023 |
Original principal amount outstanding | $ 1,332 |
Currency | USD |
3.300% Notes due 2023 [member] | 7 July 2020 [Member] | ABIFI [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Jul. 7, 2020 |
Issuer | ABIFI |
Title of series of notes issued exchanged percentage | 3.30% |
Title of series of notes issued exchanged due maturity period | Notes due 2023 |
Original principal amount outstanding | $ 2,799 |
Principal amount redeemed | 1,467 |
Principal amount not redeemed | $ 1,332 |
Currency | USD |
2.875% Notes due 2024 [member] | 17 September 2020 [Member] | ABISA [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Sep. 17, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 2.875% |
Title of series of notes issued exchanged due maturity period | Notes due 2024 |
Original principal amount outstanding | $ 750 |
Principal amount redeemed | 195 |
Principal amount not redeemed | $ 555 |
Currency | EUR |
1.500% Notes due 2025 [member] | 17 September 2020 [Member] | ABISA [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Sep. 17, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 1.50% |
Title of series of notes issued exchanged due maturity period | Notes due 2025 |
Original principal amount outstanding | $ 2,500 |
Principal amount redeemed | 353 |
Principal amount not redeemed | $ 2,147 |
Currency | EUR |
Interest-Bearing Loans and Bo_7
Interest-Bearing Loans and Borrowings - Summary of Redemption in Outstanding Principal Amount of Notes (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2020USD ($) | |
3.250% Notes due 2022 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Jul. 29, 2020 |
Issuer | ABIWW |
Title of series of notes issued exchanged percentage | 3.25% |
Title of series of notes issued exchanged due maturity period | Notes due 2022 |
Currency | AUD |
Aggregate principal amount outstanding | $ 550 |
Principal amount redeemed | $ 550 |
4.375% Notes due 2021 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Aug. 12, 2020 |
Issuer | ABIWW |
Title of series of notes issued exchanged percentage | 4.375% |
Title of series of notes issued exchanged due maturity period | Notes due 2021 |
Currency | USD |
Aggregate principal amount outstanding | $ 285 |
Principal amount redeemed | $ 285 |
2.500% Notes due 2022 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Aug. 12, 2020 |
Issuer | ABIWW |
Title of series of notes issued exchanged percentage | 2.50% |
Title of series of notes issued exchanged due maturity period | Notes due 2022 |
Currency | USD |
Aggregate principal amount outstanding | $ 454 |
Principal amount redeemed | $ 454 |
3.375% Notes due 2022 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Aug. 12, 2020 |
Issuer | ABIFI |
Title of series of notes issued exchanged percentage | 3.375% |
Title of series of notes issued exchanged due maturity period | Notes due 2023 |
Currency | CAD |
Aggregate principal amount outstanding | $ 600 |
Principal amount redeemed | $ 600 |
3.750% Notes due 2022 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Aug. 12, 2020 |
Issuer | ABNA |
Title of series of notes issued exchanged percentage | 3.75% |
Title of series of notes issued exchanged due maturity period | Notes due 2022 |
Currency | USD |
Aggregate principal amount outstanding | $ 150 |
Principal amount redeemed | $ 150 |
1.750% Notes due 2025 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Sep. 25, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 1.75% |
Title of series of notes issued exchanged due maturity period | Notes due 2025 |
Currency | GBP |
Aggregate principal amount outstanding | $ 650 |
Principal amount redeemed | $ 650 |
2.600% Notes due 2024 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Oct. 8, 2020 |
Issuer | ABIFI |
Title of series of notes issued exchanged percentage | 2.60% |
Title of series of notes issued exchanged due maturity period | Notes due 2024 |
Currency | CAD |
Aggregate principal amount outstanding | $ 1,300 |
Principal amount redeemed | $ 1,300 |
1.950% Notes due 2021 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Oct. 8, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 1.95% |
Title of series of notes issued exchanged due maturity period | Notes due 2021 |
Currency | EUR |
Aggregate principal amount outstanding | $ 527 |
Principal amount redeemed | $ 527 |
0.875% Notes due 2022 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Oct. 8, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 0.875% |
Title of series of notes issued exchanged due maturity period | Notes due 2022 |
Currency | EUR |
Aggregate principal amount outstanding | $ 1,644 |
Principal amount redeemed | $ 1,644 |
4.000% Notes due 2021 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Dec. 3, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 4.00% |
Title of series of notes issued exchanged due maturity period | Notes due 2021 |
Currency | EUR |
Aggregate principal amount outstanding | $ 519 |
Principal amount redeemed | $ 519 |
0.800% Notes due 2023 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Dec. 3, 2020 |
Issuer | ABISA |
Title of series of notes issued exchanged percentage | 0.80% |
Title of series of notes issued exchanged due maturity period | Notes due 2023 |
Currency | EUR |
Aggregate principal amount outstanding | $ 644 |
Principal amount redeemed | $ 644 |
2.625% Notes due 2023 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Dec. 16, 2020 |
Issuer | ABIFI |
Title of series of notes issued exchanged percentage | 2.625% |
Title of series of notes issued exchanged due maturity period | Notes due 2023 |
Currency | USD |
Aggregate principal amount outstanding | $ 476 |
Principal amount redeemed | $ 476 |
3.300% Notes due 2023 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Dec. 16, 2020 |
Issuer | ABIFI |
Title of series of notes issued exchanged percentage | 3.30% |
Title of series of notes issued exchanged due maturity period | Notes due 2023 |
Currency | USD |
Aggregate principal amount outstanding | $ 1,332 |
Principal amount redeemed | $ 1,332 |
3.700% Notes due 2024 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Dec. 16, 2020 |
Issuer | ABIFI |
Title of series of notes issued exchanged percentage | 3.70% |
Title of series of notes issued exchanged due maturity period | Notes due 2024 |
Currency | USD |
Aggregate principal amount outstanding | $ 489 |
Principal amount redeemed | $ 489 |
3.500% Notes due 2024 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Dec. 16, 2020 |
Issuer | ABIWW |
Title of series of notes issued exchanged percentage | 3.50% |
Title of series of notes issued exchanged due maturity period | Notes due 2024 |
Currency | USD |
Aggregate principal amount outstanding | $ 250 |
Principal amount redeemed | $ 250 |
Interest-Bearing Loans and Bo_8
Interest-Bearing Loans and Borrowings - Summary of Reconciliation of Net Debt (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Reconciliation of Net Cash Flow to Movement in Net Debt [Line Items] | ||
Bank overdrafts | $ 5 | $ 68 |
Cash and cash equivalents | (15,252) | (7,238) |
AB inBev [member] | ||
Disclosure of Reconciliation of Net Cash Flow to Movement in Net Debt [Line Items] | ||
Non-current interest-bearing loans and borrowings | 95,478 | 97,564 |
Current interest-bearing loans and borrowings | 3,081 | 5,410 |
Interest-bearing loans and borrowings | 98,559 | 102,974 |
Bank overdrafts | 5 | 68 |
Cash and cash equivalents | (15,252) | (7,238) |
Interest bearing loans granted and other deposits (included within Trade and other receivables) | (173) | (146) |
Debt securities (included within Investment securities) | (418) | (117) |
Net debt | $ 82,722 | $ 95,542 |
Interest-Bearing Loans and Bo_9
Interest-Bearing Loans and Borrowings - Summary of Changes in the Company's Liabilities Arising from Financing Activities (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||
Proceeds from borrowings | $ 14,822 | $ 22,584 | [1] | $ 17,782 | [1],[2] |
Payments on borrowings | (23,116) | (30,592) | [1] | (22,489) | [1],[2] |
Amortized cost | 119,372 | 124,228 | |||
Liabilities associated with assets held for sale | (1,145) | ||||
Long-term debt, net of current portion [member] | |||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||
Balance beginning | 97,564 | 106,997 | |||
Proceeds from borrowings | 11,226 | 17,939 | |||
Payments on borrowings | (13,596) | (22,339) | |||
Capitalization / (payment) of lease liabilities | 394 | 420 | |||
Amortized cost | 71 | 75 | |||
Unrealized foreign exchange effects | 2,521 | (538) | |||
Current portion of long-term debt | (3,744) | (4,769) | |||
Liabilities associated with assets held for sale | (69) | ||||
Other movements | 1,042 | (152) | |||
Balance ending | 95,478 | 97,564 | 106,997 | ||
Short-term debt and current portion of long-term debt [member] | |||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||
Balance beginning | 5,410 | 4,584 | |||
Proceeds from borrowings | 3,596 | 4,645 | |||
Payments on borrowings | (9,520) | (8,253) | |||
Capitalization / (payment) of lease liabilities | (484) | (441) | |||
Amortized cost | 17 | 13 | |||
Unrealized foreign exchange effects | 241 | (39) | |||
Current portion of long-term debt | 3,744 | 4,769 | |||
Liabilities associated with assets held for sale | (15) | ||||
Other movements | 77 | 147 | |||
Balance ending | $ 3,081 | $ 5,410 | $ 4,584 | ||
[1] | The consolidated statement of cash flows for 2019 and 2018 has been restated to include operating, investing and financing activities from discontinued operations separately in the cashflow statement. In addition, the 2019 cash flow from investing activities has been restated to reflect reclassification of the cash flow hedges in relation to the Australia divestiture reported in the financing activities in 2019 and recycled to profit or loss upon the completion of the transaction. | ||||
[2] | In 2019, the consolidated statement of cash flows for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Employee Benefits - Additional
Employee Benefits - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Disclosure of defined benefit plans [line items] | |||
Number of defined benefit plans | 81 | ||
Present value of funded obligations | $ 7,703,000,000 | $ 7,333,000,000 | |
Employee benefit net | 2,964,000,000 | 2,834,000,000 | |
Fair value of the plan assets | 207,000,000 | ||
Increase in employee benefit net liability | 353,000,000 | ||
Actual return on plans assets resulting to gain (losses) | $ 500,000,000 | $ 797,000,000 | |
Weighted average duration of the benefit benefit obligation | 13 years 10 months 24 days | 13 years 9 months 18 days | |
Defined Benefit Plan [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined contribution plans | $ 91,000,000 | $ 101,000,000 | $ 109,000,000 |
Retirement or Leaving Service Plans [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Number of defined benefit plans | 60 | ||
Medical Cost Plans [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Number of defined benefit plans | 17 | ||
Medical Cost Plans [Member] | Brazil [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Number of defined benefit plans | 2 | ||
Present value of funded obligations | $ 126,000,000 | ||
Net liability recognized in the balance sheet | $ 0 | ||
Other Long Term Employee Benefit Plans [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Number of defined benefit plans | 4 | ||
Active Employees [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Present value of funded obligations | $ 1,800,000,000 | ||
Deferred [member] | |||
Disclosure of defined benefit plans [line items] | |||
Present value of funded obligations | 1,900,000,000 | ||
Members in Retirement [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Present value of funded obligations | 4,800,000,000 | ||
Funded Defined Benefit Plans [member] | |||
Disclosure of defined benefit plans [line items] | |||
Expected contribution towards defined benefit plans | 289,000,000 | ||
Unfunded Defined Benefit Plans And Post Retirement Medical Plans [member] | |||
Disclosure of defined benefit plans [line items] | |||
Expected contribution towards defined benefit plans | $ 74,000,000 |
Employee Benefits - Summary of
Employee Benefits - Summary of Net Liability for Post-employment and Long-term Employee Benefit Plans (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of defined benefit plans [abstract] | ||||
Present value of funded obligations | $ (7,703) | $ (7,333) | ||
Fair value of plan assets | 5,649 | 5,442 | ||
Present value of net obligations for funded plans | (2,054) | (1,891) | ||
Present value of unfunded obligations | (793) | (810) | ||
Present value of net obligations | (2,847) | (2,701) | ||
Unrecognized asset | (31) | (74) | $ (77) | $ (111) |
Net liability | (2,878) | (2,775) | ||
Other long term employee benefits | (86) | (59) | ||
Net liability | (2,964) | (2,834) | ||
Employee benefits amounts in the balance sheet: | ||||
Liabilities | (2,970) | (2,848) | ||
Assets | 6 | 14 | ||
Net liability | $ (2,964) | $ (2,834) |
Employee Benefits - Summary o_2
Employee Benefits - Summary of Changes in Present Value of Defined Benefit Obligations and Changes in Fair Value of Plan Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation at 1 January | $ 2,834 | ||
Interest cost | (82) | $ (95) | |
Actuarial gains/(losses) - demographic assumptions | (500) | (797) | |
Defined benefit obligation at 31 December | 2,964 | 2,834 | |
Present Value of Defined Benefit Obligation [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation at 1 January | (8,143) | (7,568) | $ (8,410) |
Current service costs | (72) | (67) | (72) |
Interest cost | (250) | (326) | (322) |
Past service gain/(cost) | 16 | (9) | (3) |
Assets distributed on settlements | 153 | 109 | 45 |
Benefits paid | 519 | 596 | 493 |
Contribution by plan participants | (2) | (2) | (3) |
Actuarial gains/(losses) - demographic assumptions | 20 | 61 | 27 |
Actuarial gains/(losses) - financial assumptions | (690) | (912) | 350 |
Experience adjustments | (12) | 29 | 14 |
Exchange differences | (35) | (86) | 313 |
Transfers and other movements | 32 | ||
Defined benefit obligation at 31 December | (8,496) | (8,143) | (7,568) |
Plan Assets [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation at 1 January | 5,442 | 5,059 | 5,623 |
Interest cost | 168 | 218 | 225 |
Administration costs | (19) | (23) | (14) |
Assets distributed on settlements | (146) | (107) | (45) |
Return on plan assets exceeding interest income | 332 | 579 | (333) |
Benefits paid | (519) | (596) | (493) |
Contributions by AB InBev | 394 | 294 | 307 |
Contribution by plan participants | 2 | 2 | 3 |
Exchange differences | (9) | 46 | (214) |
Transfers and other movements | 4 | (30) | |
Defined benefit obligation at 31 December | $ 5,649 | $ 5,442 | $ 5,059 |
Employee Benefits - Summary o_3
Employee Benefits - Summary of Changes in Unrecognized Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of changes in unrecognized assets of defined benefit plans [abstract] | |||
Irrecoverable surplus impact at 1 January | $ (74) | $ (77) | $ (111) |
Interest expense | (4) | (7) | (10) |
Changes excluding amounts included in interest expense | 47 | 9 | 44 |
Irrecoverable surplus impact at 31 December | $ (31) | $ (74) | $ (77) |
Employee Benefits - Summary o_4
Employee Benefits - Summary of Employee Benefit Expense Recognized in Income Statement (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Employee Benefit Expenses [line items] | |||
Employee benefits expense | $ (156) | $ (137) | $ (193) |
Cost of sales [member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Employee benefits expense | (28) | (17) | (26) |
Distribution expenses [member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Employee benefits expense | (9) | (5) | (11) |
Sales and marketing expenses [member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Employee benefits expense | (18) | (4) | (16) |
Administrative expenses [member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Employee benefits expense | (20) | 3 | (28) |
Other Operating (Expense)/Income [Member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Employee benefits expense | (1) | (6) | |
Exceptional items [member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Employee benefits expense | 7 | 1 | |
Net Finance Cost [Member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Employee benefits expense | (87) | (114) | (107) |
Defined Benefit Plan [Member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Current service costs | (72) | (67) | (72) |
Administration costs | (19) | (23) | (14) |
Past service cost due to plan amendments and curtailments | 16 | 66 | (3) |
(Losses)/gains on due to experience and demographic assumption changes | 6 | 1 | 3 |
Profit from operations | (69) | (23) | (86) |
Net finance cost | (87) | (114) | (107) |
Employee benefits expense | $ (156) | $ (137) | $ (193) |
Employee Benefits - Summary o_5
Employee Benefits - Summary of Weighted Average Assumptions Used in Computing Benefit Obligations (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
United States [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Discount rate | 2.50% | 3.30% |
Price inflation | 2.50% | 2.50% |
United States [member] | Male [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Life expectation for a 65 year old | 86 years | 85 years |
United States [member] | Female [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Life expectation for a 65 year old | 87 years | 87 years |
United States [member] | Top of range [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Medical cost trend rate | 5.50% | 6.50% |
United States [member] | Bottom of range [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Medical cost trend rate | 4.50% | 4.50% |
Canada [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Discount rate | 2.40% | 3.10% |
Price inflation | 2.00% | 2.00% |
Future salary increases | 1.00% | 1.00% |
Future pension increases | 2.00% | 2.00% |
Medical cost trend rate | 4.50% | 4.50% |
Canada [member] | Male [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Life expectation for a 65 year old | 87 years | 87 years |
Canada [member] | Female [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Life expectation for a 65 year old | 90 years | 89 years |
Mexico [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Discount rate | 6.30% | 7.50% |
Price inflation | 3.50% | 3.50% |
Future salary increases | 4.30% | 4.30% |
Future pension increases | 3.50% | 3.50% |
Mexico [member] | Male [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Life expectation for a 65 year old | 82 years | 82 years |
Mexico [member] | Female [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Life expectation for a 65 year old | 85 years | 85 years |
Brazil [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Discount rate | 6.90% | 7.20% |
Price inflation | 3.30% | 3.80% |
Future pension increases | 3.30% | 3.80% |
Medical cost trend rate | 6.90% | 7.40% |
Brazil [Member] | Male [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Life expectation for a 65 year old | 85 years | 85 years |
Brazil [Member] | Female [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Life expectation for a 65 year old | 88 years | 88 years |
Brazil [Member] | Top of range [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Future salary increases | 6.90% | 7.40% |
Brazil [Member] | Bottom of range [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Future salary increases | 5.00% | 5.40% |
United Kingdom [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Discount rate | 1.40% | 2.00% |
Price inflation | 3.10% | 3.10% |
Future pension increases | 2.90% | 2.90% |
United Kingdom [member] | Male [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Life expectation for a 65 year old | 87 years | 87 years |
United Kingdom [member] | Female [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Life expectation for a 65 year old | 89 years | 89 years |
AB inBev [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Discount rate | 2.60% | 3.30% |
Price inflation | 2.60% | 2.70% |
Future salary increases | 3.70% | 3.80% |
Future pension increases | 2.60% | 2.70% |
AB inBev [member] | Male [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Life expectation for a 65 year old | 85 years | 85 years |
AB inBev [member] | Female [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Life expectation for a 65 year old | 88 years | 87 years |
AB inBev [member] | Top of range [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Medical cost trend rate | 6.00% | 6.60% |
AB inBev [member] | Bottom of range [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Medical cost trend rate | 5.70% | 6.10% |
Employee Benefits - Summary o_6
Employee Benefits - Summary of Sensitivity Analysis of Defined Benefit Obligation for Weighted Principle Assumption (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Discount Rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption | 0.50% |
Increase in assumption | $ (552) |
Decrease in assumption | $ 607 |
Actuarial assumption of price inflation [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption | 0.50% |
Increase in assumption | $ 211 |
Decrease in assumption | $ (214) |
Future Salary Increase [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption | 0.50% |
Increase in assumption | $ 36 |
Decrease in assumption | $ (33) |
Medical Cost Trend Rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption | 1.00% |
Increase in assumption | $ 38 |
Decrease in assumption | $ (33) |
Longevity [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption | One year |
Increase in assumption | $ 283 |
Decrease in assumption | $ (280) |
Employee Benefits - Summary o_7
Employee Benefits - Summary of Fair Value of Plan Assets (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 100.00% | 100.00% |
Government Bonds [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 33.00% | 33.00% |
Corporate Bonds [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 34.00% | 35.00% |
Equity instruments [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 25.00% | 23.00% |
Property [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 3.00% | 4.00% |
Insurance Contracts and Others [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 5.00% | 5.00% |
Quoted [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 95.00% | 95.00% |
Quoted [Member] | Government Bonds [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 33.00% | 33.00% |
Quoted [Member] | Corporate Bonds [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 34.00% | 35.00% |
Quoted [Member] | Equity instruments [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 25.00% | 23.00% |
Quoted [Member] | Insurance Contracts and Others [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 3.00% | 4.00% |
Unquoted [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 5.00% | 5.00% |
Unquoted [Member] | Property [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 3.00% | 4.00% |
Unquoted [Member] | Insurance Contracts and Others [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 2.00% | 1.00% |
Share-Based Payments - Addition
Share-Based Payments - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share-based payment transactions expense | $ | $ 169,000,000 | $ 340,000,000 | $ 353,000,000 |
Percentage of discount on market price of share for share based payments | 10.00% | ||
Share-based compensation number of shares issued | shares | 1,959,000,000 | 1,957,000,000 | 1,934,000,000 |
Fair value of stock options granted | $ | $ 7.54 | $ 11.79 | $ 16.92 |
AB inBev [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Discount Percentage On Bonus Shares Issued | 20.00% | ||
Lock up Period for first half of bonus shares | 3 years | ||
Lock up Period for second half of bonus shares | 5 years | ||
Management board members and other employees [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share based payment vesting period | five-year | ||
Board of Director [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share based payment vesting period | vest after five years | ||
Exercise period of stock options | 5 years | ||
Restricted Stock Units [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share based payment vesting period | five-year | ||
Share-based compensation number of shares issued | shares | 200,000 | 1,600,000 | |
Share-based compensation grant date fair value | $ | $ 9,000,000 | $ 153,000,000 | |
Restricted Stock Units [member] | AB inBev [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Exercise period of stock options | 5 years | ||
Stock options granted | 100,000 | 100,000 | |
Fair value of stock options granted | $ | $ 4,000,000 | $ 4,000,000 | |
Restricted Stock Units [member] | Management board members and other employees [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share-based compensation number of shares issued | shares | 17,000,000 | 0 | |
Fair value of stock options granted | $ | $ 116,000,000 | ||
Restricted Stock Units [member] | Board of Director [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share-based compensation number of shares issued | shares | 1,000,000 | 0 | |
Long Term Incentive Warrant Plan [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares granted | shares | 3 |
Share-Based Payments - LTI Stoc
Share-Based Payments - LTI Stock Option Plan Executives - Additional Information (Detail) Unit_pure in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Fair value of stock options granted | $ | $ 7.54 | $ 11.79 | $ 16.92 |
Number of shares issued | 1,959,000,000 | 1,957,000,000 | 1,934,000,000 |
Long Term Incentive Stock Option Plan [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Stock options granted | 100,000 | ||
Fair value of stock options granted | $ | $ 2,000,000 | ||
Long Term Incentive Stock Option Plan [member] | Executive [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Stock options granted | 36,000,000 | 4,000,000 | |
Long Term Incentive Stock Option Plan [member] | Executive [member] | AB inBev [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Stock options granted | 381,000,000 | 81,000,000 | |
Fair value of stock options granted | $ | $ 287,000,000 | $ 91,000,000 | |
Long Term Restricted Stock Unit Program One [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share based payment vesting period | 5 years | ||
Long Term Restricted Stock Unit Program One [member] | Executive [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Stock options granted | 7,000,000 | 900,000 | |
Fair value of stock options granted | $ | $ 307,000,000 | $ 74,000,000 | |
Long Term Restricted Stock Unit Program Two [member] | Bottom of range [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Restricted stock units, vesting period | five years | ||
Restricted stock units, vesting period variance | 2 years 6 months | ||
Long Term Restricted Stock Unit Program Two [member] | Top of range [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Restricted stock units, vesting period variance | 3 years | ||
Long Term Restricted Stock Unit Program Two [member] | Executive [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Stock options granted | 800,000 | 0 | |
Long term restricted stock unit program two series two [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Restricted stock units, vesting period variance | 5 years | ||
Long term restricted stock unit program two series two [member] | Bottom of range [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Restricted stock units, vesting period | ten years | ||
Performance Share Unit [member] | AB inBev [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares grant the right to receive | 1 | ||
Long Term Restricted Stock Unit Program Three [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share based payment vesting period | 5 years | ||
Share-based compensation grant date fair value | 100,000 | 100,000 | |
Share-based compensation grant date fair value | $ | $ 1,000,000 | $ 1,000,000 | |
Long Term Restricted Stock Unit Program Four [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Stock options granted | 1,700,000 | ||
Fair value of stock options granted | $ | $ 120,000,000 | ||
Restricted Stock Units [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share-based compensation grant date fair value | 10.9 | 5.5 | 2.3 |
Share-based compensation grant date fair value | $ | $ 9,000,000 | $ 153,000,000 | |
Number of shares issued | 200,000 | 1,600,000 | |
Restricted Stock Units [member] | Management board members and other employees [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Fair value of stock options granted | $ | $ 116,000,000 | ||
Number of shares issued | 17,000,000 | 0 | |
Restricted Stock Units [member] | Board of Director [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares issued | 1,000,000 | 0 |
Share-Based Payments - Performa
Share-Based Payments - Performance Related Incentive Plan For Disruptive Growth Function - Additional Information (Detail) - Performance Share Unit [member] Unit_pure in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share based arrangement vesting requirements | These units vest after 5 years provided that a performance test is met | |
Senior Management [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based compensation number of shares issued | 1.2 | 3.8 |
Share-Based Payments - Other Pr
Share-Based Payments - Other Programs - Additional Information (Detail) shares in Millions, Unit_pure in Millions | 12 Months Ended | |||
Dec. 31, 2020USD ($)shares | Dec. 31, 2020EUR (€)shares | Dec. 31, 2019shares | Dec. 31, 2020EUR (€) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Description on calculation of expected volatility | Expected volatility is based on historical volatility calculated over a 10-year period. | Expected volatility is based on historical volatility calculated over a 10-year period. | ||
Description on exercise price of options | The binomial Hull model assumes that all employees would immediately exercise their options if the AB InBev share price is 2.5 times above the exercise price. | The binomial Hull model assumes that all employees would immediately exercise their options if the AB InBev share price is 2.5 times above the exercise price. | ||
Weighted average remaining contractual life of options and warrants | 7.38 years | 7.38 years | ||
Options and warrants outstanding | 113.3 | 113.3 | ||
Options and warrants vested | 21.8 | 21.8 | ||
Weighted average share price at the date of exercise | $ 55.51 | € 45.23 | ||
Senior Management [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Share based payment vesting period | 6 months | 6 months | ||
Vesting acceleration of stock options and restricted stock units | 0.1 | 0.1 | 0.1 | |
Bottom of range [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Exercise price of outstanding options and warrants | $ 1,266 | € 10.32 | ||
Top of range [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Exercise price of outstanding options and warrants | $ 14,964 | € 121.95 | ||
Long Term Restricted Stock Unit Program Three [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Share based payment vesting period | 5 years | 5 years |
Share-Based Payments - Summary
Share-Based Payments - Summary of Weighted Average Fair Value of Options and Assumptions (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Fair value of options granted | $ 7.54 | $ 11.79 | $ 16.92 |
Share price | $ 46.35 | $ 78.46 | $ 98.66 |
Exercise price | $ 46.35 | $ 78.46 | $ 98.66 |
Expected volatility | 25.00% | 23.00% | 23.00% |
Expected dividends | 3.00% | 3.00% | 3.00% |
Risk-free interest rate | (0.32%) | 0.43% | 0.39% |
Ambev [member] | Brazil [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Fair value of options granted | $ 0.78 | $ 1.12 | $ 1.47 |
Share price | $ 3.47 | $ 4.38 | $ 4.66 |
Exercise price | $ 3.47 | $ 4.38 | $ 4.66 |
Expected volatility | 22.00% | 24.00% | 26.00% |
Risk-free interest rate | 6.80% | 7.80% | 9.60% |
Bottom of range [member] | Ambev [member] | Brazil [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected dividends | 0.00% | 0.00% | 0.00% |
Top of range [member] | Ambev [member] | Brazil [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected dividends | 5.00% | 5.00% | 5.00% |
Share-Based Payments - Summar_2
Share-Based Payments - Summary of Number of Options Outstanding (Detail) Unit_pure in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of information about options outstanding [line items] | |||
Options outstanding at the end of December | 127.3 | ||
Brazil [Member] | Ambev [member] | |||
Disclosure of information about options outstanding [line items] | |||
Options outstanding at 1 January | 141.8 | 141.3 | 135.2 |
Options issued during the year | 24.6 | 19.9 | |
Options exercised during the year | (5.7) | (7.8) | (10) |
Options forfeited during the year | (8.8) | (16.3) | (3.8) |
Options outstanding at the end of December | 127.3 | 141.8 | 141.3 |
AB inBev [member] | |||
Disclosure of information about options outstanding [line items] | |||
Options outstanding at 1 January | 88.7 | 92.6 | 93 |
Options issued during the year | 38.1 | 13.8 | 5.2 |
Options exercised during the year | (3.9) | (10.7) | (1.7) |
Options forfeited during the year | (9) | (7) | (4) |
Options outstanding at the end of December | 113.3 | 88.7 | 92.6 |
Share-Based Payments - Summar_3
Share-Based Payments - Summary of Weighted Average Exercise Price of Options (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Brazil [Member] | Ambev [member] | |||
Disclosure of options weighted average exercise price [line items] | |||
Options outstanding at 1 January | $ 4.60 | $ 4.17 | $ 3.94 |
Granted during the year | 3.47 | 4.48 | 4.66 |
Exercised during the year | 1.60 | 2.25 | 1.93 |
Forfeited during the year | 4.42 | 5.27 | 4.79 |
Outstanding at the end of December | 3.81 | 4.60 | 4.17 |
Exercisable at the end of December | 4.56 | 4.74 | 0.58 |
AB inBev [member] | |||
Disclosure of options weighted average exercise price [line items] | |||
Options outstanding at 1 January | 79.66 | 94.74 | 98.32 |
Granted during the year | 53.41 | 83.33 | 104.77 |
Exercised during the year | 29.92 | 29.27 | 44.96 |
Forfeited during the year | 117.82 | 108.44 | 113.19 |
Outstanding at the end of December | 71.22 | 79.66 | 94.74 |
Exercisable at the end of December | $ 99.54 | $ 65.33 | $ 21.40 |
Share-Based Payments - Summar_4
Share-Based Payments - Summary of Number of Outstanding Deferred and Restricted stock Units (Detail) - Restricted Stock Units [member] Unit_pure in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other equity instruments [line items] | |||
Restricted stock units outstanding at 1 January | 9.9 | 6 | 5.4 |
Restricted stock units issued during the year | 10.9 | 5.5 | 2.3 |
Restricted stock units exercised during the year | (0.7) | (1) | (0.5) |
Restricted stock units forfeited during the year | (0.9) | (0.7) | (1.2) |
Restricted stock units outstanding at the end of December | 19.1 | 9.9 | 6 |
Ambev [member] | |||
Disclosure of other equity instruments [line items] | |||
Restricted stock units issued during the year | 21.1 | 11.8 | |
Brazil [Member] | Ambev [member] | |||
Disclosure of other equity instruments [line items] | |||
Restricted stock units outstanding at 1 January | 31.7 | 25 | 16.3 |
Restricted stock units issued during the year | 21.3 | 12 | 13.5 |
Restricted stock units exercised during the year | (1.9) | (4.2) | (3.7) |
Restricted stock units forfeited during the year | (1.5) | (1.1) | (1.1) |
Restricted stock units outstanding at the end of December | 49.6 | 31.7 | 25 |
Share-Based Payments - Ambev Sh
Share-Based Payments - Ambev Share-Based Payment Programs - Additional Information (Detail) $ / shares in Units, shares in Millions | 12 Months Ended | ||||
Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesR$ / shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($) | Dec. 31, 2020R$ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Stock options grant date fair value | $ 7.54 | $ 7.54 | $ 11.79 | $ 16.92 | |
Options outstanding | 127,300,000 | 127,300,000 | |||
Options vested | 36,500,000 | 36,500,000 | |||
Ambev [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Weighted average remaining contractual life of options and warrants | 6 years 5 months 4 days | ||||
Weighted average share price at the date of exercise | (per share) | $ 2.93 | $ 15.23 | |||
Number of shares exchanged | shares | 0.1 | 0.1 | |||
Discount on exchange | 16.66% | ||||
Fair value of the transaction | $ 1,000,000 | $ 1,000,000 | |||
Share based program service period | 5 years | ||||
Description of the fair value measured | The fair values of the Ambev and AB InBev shares were determined based on the market price. | ||||
Ambev [member] | Bottom of range [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Exercise price of outstanding options and warrants | (per share) | $ 2.30 | $ 2.30 | R$ 11.97 | ||
Ambev [member] | Top of range [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Exercise price of outstanding options and warrants | (per share) | $ 8.46 | $ 8.46 | R$ 43.95 | ||
Phantom Shares [member] | Ambev [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Phantom shares lock up period A | 5 years | ||||
Phantom shares lock up period B | 10 years | ||||
Restricted Stock Units [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Share-based compensation number of shares issued | 10,900,000 | 5,500,000 | 2,300,000 | ||
Share-based compensation grant date fair value | $ 9,000,000 | $ 9,000,000 | $ 153,000,000 | ||
Restricted Stock Units [member] | Ambev [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Share-based compensation number of shares issued | 21,100,000 | 11,800,000 | |||
Share-based compensation grant date fair value | $ 61,000,000 | 61,000,000 | $ 54,000,000 | ||
Long Term Incentive Stock Option Plan [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Stock options granted | shares | 0.1 | ||||
Stock options grant date fair value | $ 2,000,000 | ||||
Long Term Incentive Stock Option Plan [member] | Ambev [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Stock options granted | 22,000 | 246,000,000 | |||
Stock options grant date fair value | $ 28,000,000 | ||||
Deferred stock unit plan [member] | Ambev [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Share-based compensation number of shares issued | 200,000 | 200,000 | |||
Share-based compensation grant date fair value | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 |
Share-Based Payments - Bud Apac
Share-Based Payments - Bud Apac Share-Based Compaensation Program (Detail) shares in Millions, Unit_pure in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($) | |
Disclosure Of Share Based Compaensation Program [Line Items] | |||
Fair value of options granted | $ 7.54 | $ 11.79 | $ 16.92 |
Long Term Incentive Stock Option Plan [member] | |||
Disclosure Of Share Based Compaensation Program [Line Items] | |||
Number of shares granted | shares | 0.1 | ||
Fair value of options granted | $ 2,000,000 | ||
Restricted Stock Units [member] | |||
Disclosure Of Share Based Compaensation Program [Line Items] | |||
Share-based compensation grant date fair value | 10.9 | 5.5 | 2.3 |
Share-based compensation grant date fair value | $ 9,000,000 | $ 153,000,000 | |
Budweiser APAC [Member] | Long Term Incentive Stock Option Plan [member] | |||
Disclosure Of Share Based Compaensation Program [Line Items] | |||
Number of shares granted | 697 | 90 | |
Fair value of options granted | $ 52,000,000 | $ 10,000,000 | |
Budweiser APAC [Member] | Restricted Stock Units [member] | |||
Disclosure Of Share Based Compaensation Program [Line Items] | |||
Share-based compensation grant date fair value | 297 | 40 | |
Share-based compensation grant date fair value | $ 84,000,000 | $ 13,000,000 | |
Budweiser APAC [Member] | Share-Based Compensation Plan [member] | |||
Disclosure Of Share Based Compaensation Program [Line Items] | |||
Share-based compensation grant date fair value | 2 | ||
Share-based compensation grant date fair value | $ 1,000,000 | ||
Budweiser APAC [Member] | People bet plan [member] | |||
Disclosure Of Share Based Compaensation Program [Line Items] | |||
Share-based compensation grant date fair value | 6 | ||
Share-based compensation grant date fair value | $ 2,000,000 | ||
Budweiser APAC [Member] | New Restricted Stock Units Plan [member] | |||
Disclosure Of Share Based Compaensation Program [Line Items] | |||
Share-based compensation grant date fair value | shares | 6.8 | ||
Share-based compensation grant date fair value | $ 23,000,000 |
Provisions - Additional Informa
Provisions - Additional Information (Detail) € in Millions, $ in Millions | May 13, 2019USD ($) | May 13, 2019EUR (€) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Statement [LineItems] | |||||
Provisions | $ 763 | $ 911 | $ 1,918 | ||
Provisions made | $ 264 | 305 | |||
income tax liabilities | $ 573 | ||||
AB inBev [member] | |||||
Statement [LineItems] | |||||
Provisions | $ 230 | ||||
Provisions made | $ 226 | € 200 |
Provisions - Summary of Provisi
Provisions - Summary of Provisions by Class (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of other provisions [line items] | ||
Beginning balance | $ 911 | $ 1,918 |
Effect of movements in foreign exchange | (56) | (15) |
Provisions made | 264 | 305 |
Provisions used | (225) | (499) |
Provisions reversed | (32) | (146) |
Other movements | (99) | (552) |
Ending balance | 763 | 911 |
Restructuring [Member] | ||
Disclosure of other provisions [line items] | ||
Beginning balance | 103 | 130 |
Effect of movements in foreign exchange | 8 | (2) |
Provisions made | 55 | 69 |
Provisions used | (54) | (78) |
Provisions reversed | (7) | (16) |
Other movements | (1) | |
Ending balance | 104 | 103 |
Disputes [Member] | ||
Disclosure of other provisions [line items] | ||
Beginning balance | 436 | 1,077 |
Effect of movements in foreign exchange | (40) | (13) |
Provisions made | 102 | 234 |
Provisions used | (80) | (128) |
Provisions reversed | (24) | (92) |
Other movements | 95 | (642) |
Ending balance | 489 | 436 |
Other - Disputes [Member] | ||
Disclosure of other provisions [line items] | ||
Beginning balance | 372 | 711 |
Effect of movements in foreign exchange | (24) | |
Provisions made | 107 | 2 |
Provisions used | (91) | (293) |
Provisions reversed | (1) | (38) |
Other movements | (193) | (10) |
Ending balance | $ 170 | $ 372 |
Provisions - Summary of Provi_2
Provisions - Summary of Provisions are Expected to be Settled Within the Following Time Windows (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | $ 763 | $ 911 | $ 1,918 |
Restructuring [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 104 | 103 | 130 |
Indirect Taxes - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 109 | ||
Labor - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 125 | ||
Commercial - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 31 | ||
Environmental - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 5 | ||
Excise duties - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 24 | ||
Other Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 195 | ||
Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 489 | 436 | 1,077 |
Other - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 170 | $ 372 | $ 711 |
Less than 1 year [member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 219 | ||
Less than 1 year [member] | Restructuring [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 54 | ||
Less than 1 year [member] | Indirect Taxes - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 8 | ||
Less than 1 year [member] | Labor - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 15 | ||
Less than 1 year [member] | Commercial - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 9 | ||
Less than 1 year [member] | Environmental - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 5 | ||
Less than 1 year [member] | Other Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 46 | ||
Less than 1 year [member] | Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 83 | ||
Less than 1 year [member] | Other - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 82 | ||
1-2 years [member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 345 | ||
1-2 years [member] | Restructuring [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 15 | ||
1-2 years [member] | Indirect Taxes - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 55 | ||
1-2 years [member] | Labor - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 26 | ||
1-2 years [member] | Commercial - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 14 | ||
1-2 years [member] | Excise duties - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 17 | ||
1-2 years [member] | Other Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 134 | ||
1-2 years [member] | Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 246 | ||
1-2 years [member] | Other - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 84 | ||
2-5 years [member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 121 | ||
2-5 years [member] | Restructuring [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 14 | ||
2-5 years [member] | Indirect Taxes - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 1 | ||
2-5 years [member] | Labor - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 74 | ||
2-5 years [member] | Commercial - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 6 | ||
2-5 years [member] | Excise duties - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 7 | ||
2-5 years [member] | Other Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 15 | ||
2-5 years [member] | Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 103 | ||
2-5 years [member] | Other - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 4 | ||
Greater than 5 years [member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 78 | ||
Greater than 5 years [member] | Restructuring [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 21 | ||
Greater than 5 years [member] | Indirect Taxes - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 45 | ||
Greater than 5 years [member] | Labor - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 10 | ||
Greater than 5 years [member] | Commercial - Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 2 | ||
Greater than 5 years [member] | Disputes [Member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | $ 57 |
Trade and Other Payables - Summ
Trade and Other Payables - Summary of Trade and Other Payables (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of trade and other payables [abstract] | ||
Indirect taxes payable | $ 252 | $ 174 |
Trade payables | 98 | 237 |
Deferred consideration on acquisitions | 1,082 | 1,418 |
Other payables | 90 | 113 |
Non-current trade and other payables | 1,522 | 1,943 |
Trade payables and accrued expenses | 15,898 | 15,876 |
Payroll and social security payables | 800 | 736 |
Indirect taxes payable | 2,629 | 2,708 |
Interest payable | 1,625 | 1,679 |
Consigned packaging | 1,010 | 1,106 |
Dividends payable | 427 | 338 |
Deferred income | 27 | 21 |
Deferred consideration on acquisitions | 301 | 221 |
Other payables | 249 | 179 |
Current trade and other payables | $ 22,965 | $ 22,864 |
Trade and Other Payables - Addi
Trade and Other Payables - Additional Information (Detail) - USD ($) $ in Billions | Dec. 31, 2020 | Dec. 31, 2019 |
Ambev And E Leon Jimenes Sa [member] | Written Put Options [member] | ||
Disclosure of trade and other payables [line items] | ||
Deferred consideration on acquisitions | $ 0.7 | $ 0.7 |
Risks Arising From Financial _3
Risks Arising From Financial Instruments - Disclosure of Financial Assets And Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at amortized cost | $ 4,515 | $ 5,469 |
Financial assets at fair value through profit or loss | 474 | 229 |
Financial assets at fair value through OCI | 1,001 | 311 |
Total | 5,991 | 6,009 |
Financial liabilities at amortized cost | 119,372 | 124,228 |
Financial liabilities at fair value through profit or loss | 6,119 | 3,442 |
Financial liabilities at fair value through OCI | 685 | 709 |
Total | 126,176 | 128,379 |
Equity swaps [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Total | 5,400 | 3,200 |
Trades and other payables [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 20,807 | 21,187 |
Total | 20,807 | 21,187 |
Secured bank loans [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 702 | 861 |
Total | 702 | 861 |
Unsecured bank loans [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 294 | 185 |
Total | 294 | 185 |
Unsecured other loans [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 83 | 97 |
Total | 83 | 97 |
Lease liabilities [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 2,234 | 2,026 |
Total | 2,234 | 2,026 |
Unsecured bond issues [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 93,725 | 98,206 |
Total | 93,725 | 98,206 |
Commercial paper [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 1,522 | 1,599 |
Total | 1,522 | 1,599 |
Bank Overdrafts [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 5 | 68 |
Total | 5 | 68 |
Non-current financial liabilities [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 96,748 | 99,335 |
Financial liabilities at fair value through profit or loss | 1,758 | 349 |
Total | 98,506 | 99,684 |
Current financial liabilities [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 22,623 | 24,895 |
Financial liabilities at fair value through profit or loss | 4,361 | 3,092 |
Financial liabilities at fair value through OCI | 685 | 709 |
Total | 27,670 | 28,696 |
Derivatives not designated [member] | Equity swaps [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through profit or loss | 5,353 | 3,146 |
Total | 5,353 | 3,146 |
Derivatives not designated [member] | Cross currency interest rate swaps [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through profit or loss | 446 | 140 |
Total | 446 | 140 |
Derivatives not designated [member] | Other interest rate derivatives [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through profit or loss | 321 | 156 |
Total | 321 | 156 |
Derivatives designated [member] | Equity swaps [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through OCI | 21 | 31 |
Total | 21 | 31 |
Derivatives designated [member] | Cross currency interest rate swaps [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through OCI | 264 | 35 |
Total | 264 | 35 |
Derivatives designated [member] | Other interest rate derivatives [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through OCI | 5 | 107 |
Total | 5 | 107 |
Derivatives designated [member] | Forward exchange contracts [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through OCI | 370 | 435 |
Total | 370 | 435 |
Derivatives designated [member] | Interest rate swap [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through OCI | 4 | |
Total | 4 | |
Derivatives designated [member] | Other commodity derivatives [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through OCI | 26 | 97 |
Total | 26 | 97 |
Trade and other receivables [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at amortized cost | 4,493 | 5,444 |
Total | 4,493 | 5,444 |
Unquoted Debt [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at amortized cost | 22 | 25 |
Total | 22 | 25 |
Quoted Debt [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through profit or loss | 396 | 91 |
Total | 396 | 91 |
Equity instruments [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through OCI | 115 | 85 |
Total | 115 | 85 |
Non-current financial assets [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at amortized cost | 588 | 664 |
Financial assets at fair value through profit or loss | 79 | 136 |
Financial assets at fair value through OCI | 174 | 81 |
Total | 841 | 881 |
Current financial assets [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at amortized cost | 3,928 | 4,803 |
Financial assets at fair value through profit or loss | 396 | 93 |
Financial assets at fair value through OCI | 827 | 230 |
Total | 5,150 | 5,126 |
Derivatives not designated [member] | Equity swaps [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through profit or loss | 27 | 17 |
Total | 27 | 17 |
Derivatives not designated [member] | Interest rate swap [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through profit or loss | 45 | 18 |
Total | 45 | 18 |
Derivatives not designated [member] | Cross currency interest rate swap [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through profit or loss | 7 | 102 |
Total | 7 | 102 |
Derivatives designated [member] | Interest rate swap [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through OCI | 35 | |
Total | 35 | |
Derivatives designated [member] | Cross currency interest rate swap [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through OCI | 100 | 55 |
Total | 100 | 55 |
Derivatives designated [member] | Foreign Exchange Contracts [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through OCI | 480 | 112 |
Total | 480 | 112 |
Derivatives designated [member] | Foreign currency futures [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through OCI | 36 | 7 |
Total | 36 | 7 |
Derivatives designated [member] | Commodity derivatives [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through OCI | 235 | 52 |
Total | $ 235 | $ 52 |
Risks Arising from Financial _4
Risks Arising from Financial Instruments - Summary of Notional Amounts of Derivatives Outstanding at Year-end by Maturity Bucket (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Less than 1 year [member] | Forward exchange contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | $ 18,505 | $ 21,216 |
Less than 1 year [member] | Foreign currency futures [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 2,218 | 1,359 |
Less than 1 year [member] | Interest rate swap [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 750 |
Less than 1 year [member] | Cross currency interest rate swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 513 | 15 |
Less than 1 year [member] | Other interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
Less than 1 year [member] | Aluminum swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,184 | 1,411 |
Less than 1 year [member] | Other commodity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 644 | 771 |
Less than 1 year [member] | Equity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 10,234 | 11,638 |
1-2 years [member] | Forward exchange contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 290 | 36 |
1-2 years [member] | Foreign currency futures [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 723 |
1-2 years [member] | Interest rate swap [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,500 | 0 |
1-2 years [member] | Cross currency interest rate swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 5,658 | 513 |
1-2 years [member] | Other interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
1-2 years [member] | Aluminum swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 22 |
1-2 years [member] | Other commodity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 20 |
1-2 years [member] | Equity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 2,326 | 0 |
2-3 years [member] | Forward exchange contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
2-3 years [member] | Foreign currency futures [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
2-3 years [member] | Interest rate swap [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,000 | 1,500 |
2-3 years [member] | Cross currency interest rate swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,400 | 5,445 |
2-3 years [member] | Other interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
2-3 years [member] | Aluminum swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
2-3 years [member] | Other commodity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
2-3 years [member] | Equity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
3-5 years [member] | Forward exchange contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
3-5 years [member] | Foreign currency futures [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
3-5 years [member] | Interest rate swap [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 1,000 |
3-5 years [member] | Cross currency interest rate swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,866 | 500 |
3-5 years [member] | Other interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
3-5 years [member] | Aluminum swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
3-5 years [member] | Other commodity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
3-5 years [member] | Equity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
Greater than 5 years [member] | Forward exchange contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
Greater than 5 years [member] | Foreign currency futures [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
Greater than 5 years [member] | Interest rate swap [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
Greater than 5 years [member] | Cross currency interest rate swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 789 | 668 |
Greater than 5 years [member] | Other interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 565 |
Greater than 5 years [member] | Aluminum swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
Greater than 5 years [member] | Other commodity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
Greater than 5 years [member] | Equity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | $ 0 | $ 0 |
Risks Arising from Financial _5
Risks Arising from Financial Instruments - Summary of Foreign Exchange Risk on Operating Activities (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Euro to Canadian Dollar [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | $ (9) | $ (52) |
Total hedges | 9 | 39 |
Open position | (13) | |
Euro to Mexican Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (106) | (151) |
Total hedges | 102 | 156 |
Open position | (4) | 5 |
Euro to Pound Sterling [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (203) | (126) |
Total hedges | 130 | 124 |
Open position | (73) | (2) |
Euro to South African Rand [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (95) | (99) |
Total hedges | 65 | 95 |
Open position | (30) | (4) |
Euro to South Korean Won [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (40) | (49) |
Total hedges | 38 | 46 |
Open position | (2) | (3) |
Euro to US Dollar [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (354) | (409) |
Total hedges | 284 | 337 |
Open position | (70) | (72) |
Mexican peso to Euro [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (249) | (178) |
Total hedges | 146 | 161 |
Open position | (103) | (17) |
Pound Sterling to Euro [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (35) | (39) |
Total hedges | 36 | 40 |
Open position | 1 | 1 |
US dollar to Argentinian peso [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (602) | (531) |
Total hedges | 543 | 510 |
Open position | (59) | (21) |
US Dollar to Australian Dollar [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (216) | |
Total hedges | 204 | |
Open position | (12) | |
US Dollar to Bolivian Boliviano [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (64) | (69) |
Total hedges | 56 | 70 |
Open position | (8) | 1 |
US Dollar to Brazilian Real [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (1,573) | (1,443) |
Total hedges | 1,577 | 1,447 |
Open position | 4 | 4 |
US Dollar to Canadian Dollar [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (302) | (287) |
Total hedges | 194 | 295 |
Open position | (108) | 8 |
US Dollar to Chilean Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (151) | (109) |
Total hedges | 129 | 102 |
Open position | (22) | (7) |
US Dollar to Chinese Yuan [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (171) | (230) |
Total hedges | 201 | 191 |
Open position | 30 | (39) |
US Dollar to Colombian Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (359) | (278) |
Total hedges | 352 | 272 |
Open position | (7) | (6) |
US Dollar to Euro [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (98) | (108) |
Total hedges | 96 | 113 |
Open position | (2) | 5 |
US Dollar to Mexican Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (1,032) | (1,105) |
Total hedges | 995 | 903 |
Open position | (37) | (202) |
US Dollar to Paraguayan Guarani [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (132) | (124) |
Total hedges | 125 | 130 |
Open position | (7) | 6 |
US Dollar to Peruvian Nuevo Sol [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (225) | (243) |
Total hedges | 168 | 205 |
Open position | (57) | (38) |
US Dollar to South African Rand [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (130) | (28) |
Total hedges | 116 | 31 |
Open position | (14) | 3 |
US Dollar to South Korean Won [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (71) | (88) |
Total hedges | 70 | 99 |
Open position | (1) | 11 |
US Dollar to Uruguayan Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (40) | (41) |
Total hedges | 39 | 41 |
Open position | (1) | |
Other currency [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (260) | (317) |
Total hedges | 131 | 250 |
Open position | $ (129) | $ (67) |
Risks Arising from Financial _6
Risks Arising from Financial Instruments - Summary of Currency Transactional Risk (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Euro to Mexican Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 24.48 | 21.17 |
Volatility of rates | 20.83% | 8.92% |
Euro to Pound Sterling [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 0.90 | 0.85 |
Volatility of rates | 9.09% | 7.35% |
Euro to South Korean Won [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 1,335.11 | 1,297.02 |
Volatility of rates | 8.74% | 6.17% |
Euro to US Dollar [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 1.23 | 1.12 |
Volatility of rates | 7.75% | 4.69% |
Pound Sterling to US Dollar [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 1.36 | 1.32 |
Volatility of rates | 10.79% | 8.08% |
US dollar to Argentinian peso [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 84.14 | 59.89 |
Volatility of rates | 11.40% | 23.94% |
US dollar to Brazilian real [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 5.20 | 4.03 |
Volatility of rates | 20.51% | 12.23% |
US Dollar to Australian Dollar [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 1.42 | |
Volatility of rates | 6.70% | |
US Dollar to Chinese Yuan [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 6.54 | 6.96 |
Volatility of rates | 4.34% | 4.86% |
US Dollar to Colombian Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 3,438.52 | 3,272.63 |
Volatility of rates | 15.41% | 10.31% |
US Dollar to Euro [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 0.81 | 0.89 |
Volatility of rates | 7.75% | 4.69% |
US Dollar to Mexican Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 19.95 | 18.85 |
Volatility of rates | 18.83% | 8.48% |
US Dollar to Nigerian Naira [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 397.72 | 362.59 |
Volatility of rates | 13.20% | 3.31% |
US Dollar to Peruvian Nuevo Sol [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 3.62 | 3.32 |
Volatility of rates | 6.95% | 4.50% |
US Dollar to South African Rand [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 14.69 | 14.04 |
Volatility of rates | 16.99% | 12.74% |
US Dollar to South Korean Won [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 1,088.02 | 1,154.55 |
Volatility of rates | 8.07% | 7.78% |
US Dollar to Tanzanian Shilling [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 2,321.74 | 2,300.14 |
Volatility of rates | 5.02% | 4.94% |
US Dollar to Zambian Kwacha [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Closing rate | 21.16 | 14.02 |
Volatility of rates | 12.89% | 19.85% |
Bottom of range [member] | Euro to Mexican Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 19.38 | 19.28 |
Bottom of range [member] | Euro to Pound Sterling [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 0.82 | 0.79 |
Bottom of range [member] | Euro to South Korean Won [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 1,218.41 | 1,216.94 |
Bottom of range [member] | Euro to US Dollar [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 1.13 | 1.07 |
Bottom of range [member] | Pound Sterling to US Dollar [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 1.22 | 1.21 |
Bottom of range [member] | US dollar to Argentinian peso [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 74.55 | 45.55 |
Bottom of range [member] | US dollar to Brazilian real [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 4.13 | 3.54 |
Bottom of range [member] | US Dollar to Australian Dollar [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 1.33 | |
Bottom of range [member] | US Dollar to Chinese Yuan [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 6.25 | 6.62 |
Bottom of range [member] | US Dollar to Colombian Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 2,908.55 | 2,935.33 |
Bottom of range [member] | US Dollar to Euro [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 0.75 | 0.85 |
Bottom of range [member] | US Dollar to Mexican Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 16.19 | 17.25 |
Bottom of range [member] | US Dollar to Nigerian Naira [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 345.23 | 350.58 |
Bottom of range [member] | US Dollar to Peruvian Nuevo Sol [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 3.37 | 3.17 |
Bottom of range [member] | US Dollar to South African Rand [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 12.19 | 12.26 |
Bottom of range [member] | US Dollar to South Korean Won [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 1,000.21 | 1,064.67 |
Bottom of range [member] | US Dollar to Tanzanian Shilling [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 2,205.30 | 2,186.57 |
Bottom of range [member] | US Dollar to Zambian Kwacha [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 18.44 | 11.24 |
Top of range [member] | Euro to Mexican Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 29.58 | 23.06 |
Top of range [member] | Euro to Pound Sterling [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 0.98 | 0.91 |
Top of range [member] | Euro to South Korean Won [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 1,451.81 | 1,377.1 |
Top of range [member] | Euro to US Dollar [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 1.32 | 1.18 |
Top of range [member] | Pound Sterling to US Dollar [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 1.51 | 1.43 |
Top of range [member] | US dollar to Argentinian peso [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 93.73 | 74.23 |
Top of range [member] | US dollar to Brazilian real [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 6.26 | 4.52 |
Top of range [member] | US Dollar to Australian Dollar [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 1.52 | |
Top of range [member] | US Dollar to Chinese Yuan [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 6.82 | 7.30 |
Top of range [member] | US Dollar to Colombian Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 3,968.50 | 3,609.92 |
Top of range [member] | US Dollar to Euro [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 0.88 | 0.93 |
Top of range [member] | US Dollar to Mexican Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 23.71 | 20.44 |
Top of range [member] | US Dollar to Nigerian Naira [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 450.21 | 374.60 |
Top of range [member] | US Dollar to Peruvian Nuevo Sol [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 3.87 | 3.47 |
Top of range [member] | US Dollar to South African Rand [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 17.18 | 15.83 |
Top of range [member] | US Dollar to South Korean Won [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 1,175.84 | 1,244.42 |
Top of range [member] | US Dollar to Tanzanian Shilling [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 2,438.18 | 2,413.71 |
Top of range [member] | US Dollar to Zambian Kwacha [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Possible closing rate | 23.89 | 16.81 |
Risks Arising From Financial _7
Risks Arising From Financial Instruments - Additional Information (Detail) | 1 Months Ended | 12 Months Ended | 84 Months Ended | ||
Sep. 30, 2013 | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2018USD ($) | |
Disclosure of detailed information about financial instruments [line items] | |||||
Derivative position positive pre-tax impact on equity reserves | $ 850,000,000 | $ 548,000,000 | $ (587,000,000) | $ (587,000,000) | |
Amount of exposure equivalent to shares hedged | $ 21,598,000,000 | 13,807,000,000 | |||
Description of methods to use sensitivity analysis is assessed | Sensitivity analysis is assessed based on the yearly volatility using daily observable market data during 250 days at 31 December 2020.Sensitivity analysis is assessed based on the yearly volatility using daily observable market data during 250 days at 31 December 2019. | ||||
Financial Liabilities | $ 126,176,000,000 | 128,379,000,000 | |||
Equity swaps [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial Liabilities | 5,400,000,000 | 3,200,000,000 | |||
Top of range [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Currency transactional risk impact on consolidated profit before taxes | 30,000,000 | 22,000,000 | $ 42,000,000 | ||
Ambev [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Derivative and non-derivative financial instruments, net | 671,000,000 | 732,000,000 | |||
Holding Company [Member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Derivative and non-derivative financial instruments, net | 9,691,000,000 | 15,522,000,000 | |||
Observable Market Inputs - Level 3 [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial Liabilities | $ 1,251,000,000 | $ 1,639,000,000 | |||
CERVECERIA NACIONAL DOMINICANA S.A. [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Percentage of shares hold by ELJ | 1,500 | ||||
Call Options [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Non derivative financial liability | $ 0 | ||||
Equity price risk [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Amount of exposure equivalent to shares hedged | 100,500,000 | ||||
Gain recognized in the profit or loss | $ (2,219,000,000) | ||||
Cash inflow (out flow) from reset of derivative contracts to market prices | $ 2,900,000,000 | ||||
Reasonable possible volatility rate | 53.87% | 25.20% | 22.03% | 22.03% | |
Positive/negative impact on profit before tax | $ 3,787,000,000 | $ 2,066,000,000 | $ 1,345,000,000 | $ 1,345,000,000 | |
Equity price risk [member] | Share-Based Compensation Plan [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Gain recognized in the profit or loss | (1,211,000,000) | ||||
Interest Rate Risk [Member] | Floating interest rate [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Carrying value of financial liabilities | $ 6,461,000,000 | ||||
Proportion of company's financial liabilities | 6.60% | ||||
Higher/lower interest expense | $ 3,000,000 | 16,000,000 | 8,000,000 | ||
Higher/lower interest income | 58,000,000 | 22,000,000 | $ 60,000,000 | ||
Interest Rate Risk [Member] | Before hedging [Member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Carrying value of financial liabilities | $ 5,000,000 | 68,000,000 | |||
Credit risk [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Concentration of credit risks, description | There was no significant concentration of credit risks with any single counterparty as of 31 December 2020 and no single customer represented more than 10% of the total revenue of the group in 2020. | ||||
Credit risk [member] | Top of range [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Percentage of revenue accounted by individual customer | 10.00% | ||||
Deferred consideration on acquisitions [member] | Put Option [Member] | Observable Market Inputs - Level 3 [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Non derivative financial liability | $ 671,000,000 | $ 732,000,000 | |||
Fair value hedges [member] | Interest Rate Risk [Member] | US Dollar Fixed Rate Bond Hedges [Member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Issuance amount | 1,000,000,000 | ||||
Cash flow hedges [member] | Interest Rate Risk [Member] | Pound Sterling Bond Hedges [Member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Issuance amount | 500,000,000 | ||||
Interest rate percentage | 4.00% | ||||
Maturity period | September 2025 | ||||
Grupo Modelo [member] | Equity price risk [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Gain recognized in the profit or loss | $ (511,000,000) | ||||
SABMiller Group [member] | Equity price risk [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Gain recognized in the profit or loss | $ (497,000,000) |
Risks Arising from Financial _8
Risks Arising from Financial Instruments - Summary of Foreign Exchange Results Recognized on Unhedged and Hedged Exposures (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Net foreign exchange results [line items] | |||
Net foreign exchange | $ 43 | $ (180) | $ 19 |
Economic Hedges [Member] | |||
Net foreign exchange results [line items] | |||
Net foreign exchange | (181) | 6 | (210) |
Other Results - Not Hedged [Member] | |||
Net foreign exchange results [line items] | |||
Net foreign exchange | $ 195 | $ (186) | $ 230 |
Risks Arising from Financial _9
Risks Arising from Financial Instruments - Summary of Effective Interest Rates at Balance Sheet (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | $ (6,804) | $ (4,151) |
Before hedging [Member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 3,962 | 6,441 |
Before hedging [Member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | $ 94,602 | $ 96,601 |
Before hedging [Member] | Brazilian Real [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 3.90% | 9.33% |
Hedging | $ 164 | $ 43 |
Before hedging [Member] | Brazilian Real [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 8.58% | 9.00% |
Hedging | $ 578 | $ 544 |
Before hedging [Member] | Canadian Dollar [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 4.12% | 3.16% |
Hedging | $ 613 | $ 2,055 |
Before hedging [Member] | Euro [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 0.15% | 0.08% |
Hedging | $ 2,690 | $ 4,214 |
Before hedging [Member] | Euro [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 2.12% | 1.82% |
Hedging | $ 26,092 | $ 25,346 |
Before hedging [Member] | US Dollar [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 1.05% | 2.36% |
Hedging | $ 617 | $ 1,749 |
Before hedging [Member] | US Dollar [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 4.91% | 4.83% |
Hedging | $ 62,340 | $ 62,205 |
Before hedging [Member] | Other currency [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 7.30% | 9.82% |
Hedging | $ 260 | $ 225 |
Before hedging [Member] | Other currency [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 11.96% | 7.31% |
Hedging | $ 479 | $ 416 |
Before hedging [Member] | Australian Dollar [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 0.99% | 1.87% |
Hedging | $ 231 | $ 210 |
Before hedging [Member] | Australian Dollar [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 3.91% | 3.71% |
Hedging | $ 846 | $ 1,647 |
Before hedging [Member] | Pound Sterling [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 4.30% | 3.82% |
Hedging | $ 3,655 | $ 4,373 |
Before hedging [Member] | South Korea [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 3.37% | |
Hedging | $ 15 | |
After hedging [Member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 6,461 | 9,690 |
After hedging [Member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | $ 92,103 | $ 93,352 |
After hedging [Member] | Brazilian Real [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 3.90% | 9.33% |
Hedging | $ 164 | $ 43 |
After hedging [Member] | Brazilian Real [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 8.58% | 9.00% |
Hedging | $ 578 | $ 544 |
After hedging [Member] | Canadian Dollar [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 1.23% | |
Hedging | $ 1,895 | |
After hedging [Member] | Canadian Dollar [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 4.29% | 3.16% |
Hedging | $ 2,646 | $ 2,055 |
After hedging [Member] | Euro [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 0.15% | 0.08% |
Hedging | $ 2,690 | $ 4,214 |
After hedging [Member] | Euro [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 2.15% | 1.82% |
Hedging | $ 35,515 | $ 29,338 |
After hedging [Member] | US Dollar [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 1.13% | 2.85% |
Hedging | $ 201 | $ 4,269 |
After hedging [Member] | US Dollar [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 5.30% | 5.02% |
Hedging | $ 47,892 | $ 54,551 |
After hedging [Member] | Other currency [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 7.90% | 4.46% |
Hedging | $ 573 | $ 954 |
After hedging [Member] | Other currency [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 11.72% | 6.95% |
Hedging | $ 502 | $ 489 |
After hedging [Member] | Australian Dollar [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 1.87% | |
Hedging | $ 210 | |
After hedging [Member] | Australian Dollar [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 3.71% | |
Hedging | $ 1,647 | |
After hedging [Member] | Pound Sterling [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 1.10% | |
Hedging | $ 937 | |
After hedging [Member] | Pound Sterling [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 4.36% | 3.79% |
Hedging | $ 2,973 | $ 3,713 |
After hedging [Member] | South Korea [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 1.30% | 2.46% |
Hedging | $ 1,997 | $ 1,015 |
Risks Arising from Financial_10
Risks Arising from Financial Instruments - Summary of Floating Rate Debt after Hedging (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Brazilian Real [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Interest rate | 2.09% | 4.42% |
Volatility rates in % | 16.77% | 24.88% |
Euro [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Volatility rates in % | 16.83% | 6.43% |
US Dollar [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Interest rate | 0.24% | 1.91% |
Volatility rates in % | 58.30% | 20.66% |
Bottom of range [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Interest rate | 3.00% | |
Bottom of range [member] | Brazilian Real [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Possible interest rate 2 | 1.74% | 3.32% |
Bottom of range [member] | US Dollar [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Possible interest rate 2 | 0.10% | 1.51% |
Top of range [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Interest rate | 4.00% | |
Top of range [member] | Brazilian Real [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Possible interest rate 2 | 2.44% | 5.52% |
Top of range [member] | US Dollar [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Possible interest rate 2 | 0.38% | 2.30% |
Risks Arising from Financial_11
Risks Arising from Financial Instruments - Summary of Interest Expense Recognized on Unhedged and Hedged Financial Liabilities (Detail) - Interest Rate Risk [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about hedging instruments [line items] | |||
Interest expense | $ (4,016) | $ (4,168) | $ (3,973) |
Financial Liabilities at Amortised Cost, Class [Member] | Not Designated in Hedging Relationship [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Interest expense | (4,154) | (4,264) | (4,053) |
Fair value hedges [member] | Hedged Item [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Interest expense | (1) | (46) | (76) |
Cash flow hedges [member] | Hedged Item [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Interest expense | 19 | 15 | 21 |
Net investment hedges [member] | Hedging Instrument [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Interest expense | 2 | 2 | 35 |
Economic Hedges [Member] | Hedged Item [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Interest expense | $ 118 | $ 124 | $ 100 |
Risks arising from Financial_12
Risks arising from Financial instruments - Schedule of Commodity Derivatives Outstanding (Detail) - Commodity price risk [member] - Commodity derivatives [member] - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | $ 1,828 | $ 2,224 |
Aluminum swap [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | 1,184 | 1,433 |
Exchange traded sugar futures [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | 74 | 54 |
Natural gas and energy derivatives [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | 202 | 255 |
Corn swaps [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | 160 | 195 |
Exchange traded wheat futures [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | 83 | 20 |
Rice swaps [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | 76 | 209 |
Plastic derivatives [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | $ 50 | $ 59 |
Risks Arising from Financial_13
Risks Arising from Financial Instruments - Summary of Estimated Impact on Changes in the Price of Commodities (Detail) - Commodity price risk [member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Aluminum swap [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 14.96% | 21.78% |
Pre-tax impact on equity Price Increases | $ 177 | $ 312 |
Prices decrease | $ (177) | $ (312) |
Exchange traded sugar futures [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 31.48% | 29.73% |
Pre-tax impact on equity Price Increases | $ 23 | $ 16 |
Prices decrease | $ (23) | $ (16) |
Exchange traded wheat futures [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 25.30% | 30.30% |
Pre-tax impact on equity Price Increases | $ 21 | $ 6 |
Prices decrease | $ (21) | $ (6) |
Natural gas and energy derivatives [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 47.08% | 25.86% |
Pre-tax impact on equity Price Increases | $ 95 | $ 66 |
Prices decrease | $ (95) | $ (66) |
Rice swaps [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 46.17% | 22.64% |
Pre-tax impact on equity Price Increases | $ 35 | $ 47 |
Prices decrease | $ (35) | $ (47) |
Corn swaps [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 32.84% | 21.74% |
Pre-tax impact on equity Price Increases | $ 52 | $ 42 |
Prices decrease | $ (52) | $ (42) |
Plastic derivatives [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 26.74% | 24.03% |
Pre-tax impact on equity Price Increases | $ 13 | $ 14 |
Prices decrease | $ (13) | $ (14) |
Risks Arising from Financial_14
Risks Arising from Financial Instruments - Summary of Carrying Amount of Financial Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of credit risk exposure [line items] | ||
Gross | $ 21,598 | $ 13,807 |
Debt Securities [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 418 | 117 |
Trade receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 3,285 | 4,046 |
Cash Deposits for Guarantees [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 184 | 219 |
Loans to customers [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 142 | 177 |
Other receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 1,237 | 1,563 |
Derivatives [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 965 | 362 |
Cash and Cash Equivalent [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 15,252 | 7,238 |
Equity instruments [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 115 | 85 |
Gross carrying amount [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 21,974 | 14,090 |
Gross carrying amount [member] | Debt Securities [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 418 | 117 |
Gross carrying amount [member] | Trade receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 3,593 | 4,219 |
Gross carrying amount [member] | Cash Deposits for Guarantees [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 184 | 219 |
Gross carrying amount [member] | Loans to customers [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 142 | 177 |
Gross carrying amount [member] | Other receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 1,299 | 1,666 |
Gross carrying amount [member] | Derivatives [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 965 | 362 |
Gross carrying amount [member] | Cash and Cash Equivalent [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 15,252 | 7,238 |
Gross carrying amount [member] | Equity instruments [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 121 | 92 |
Impairment losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | (376) | (283) |
Impairment losses [member] | Trade receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | (308) | (173) |
Impairment losses [member] | Other receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | (62) | (103) |
Impairment losses [member] | Equity instruments [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | $ (6) | $ (7) |
Risks Arising from Financial_15
Risks Arising from Financial Instruments - Summary of Allowance for Impairment (Detail) - Impairment losses [member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of impairment loss and reversal of impairment loss [line items] | |||
Beginning balance | $ (283) | $ (273) | $ (318) |
Impairment losses | (99) | (81) | (43) |
Derecognition | 49 | 57 | 35 |
Currency translation and other | (46) | 14 | 53 |
Ending balance | (376) | (283) | (273) |
Trade receivables [member] | |||
Disclosure of impairment loss and reversal of impairment loss [line items] | |||
Beginning balance | (173) | (160) | (194) |
Impairment losses | (93) | (51) | (40) |
Derecognition | 7 | 26 | 29 |
Currency translation and other | (50) | 12 | 44 |
Ending balance | (308) | (173) | (160) |
FVOCI | |||
Disclosure of impairment loss and reversal of impairment loss [line items] | |||
Beginning balance | (7) | (7) | (7) |
Ending balance | (6) | (7) | (7) |
Other receivables [member] | |||
Disclosure of impairment loss and reversal of impairment loss [line items] | |||
Beginning balance | (103) | (106) | (117) |
Impairment losses | (6) | (30) | (3) |
Derecognition | 42 | 31 | 6 |
Currency translation and other | 4 | 2 | 9 |
Ending balance | $ (62) | $ (103) | $ (106) |
Risks Arising from Financial_16
Risks Arising from Financial Instruments - Summary of Nominal Contractual Maturities of Non-Derivative Financial Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Non-derivative financial liabilities | ||
Bank overdraft | $ (5) | $ (68) |
Net carrying amount [member] | ||
Non-derivative financial liabilities | ||
Secured bank loans | (702) | (861) |
Commercial papers | (1,522) | (1,599) |
Unsecured bank loans | (294) | (185) |
Unsecured bond issues | (93,725) | (98,206) |
Unsecured other loans | (83) | (98) |
Finance lease liabilities | (2,234) | (2,025) |
Bank overdraft | (5) | (68) |
Trade and other payables | (24,496) | (24,806) |
Non-derivative financial liabilities | (123,061) | (127,848) |
Derivative financial assets/(liabilities) | ||
Interest rate derivatives | (102) | |
Foreign exchange derivatives | (696) | (600) |
Cross currency interest rate swaps | (709) | (175) |
Commodity derivatives | (26) | (97) |
Equity derivatives | (5,373) | (3,177) |
Derivative financial assets/(liabilities) | (6,803) | (4,151) |
Of which: related to cash flow hedges | (418) | (448) |
Contractual cash flows [member] | ||
Non-derivative financial liabilities | ||
Secured bank loans | (735) | (890) |
Commercial papers | (1,522) | (1,599) |
Unsecured bank loans | (299) | (188) |
Unsecured bond issues | (165,812) | (165,424) |
Unsecured other loans | (115) | (131) |
Finance lease liabilities | (2,455) | (2,338) |
Bank overdraft | (5) | (68) |
Trade and other payables | (24,688) | (25,152) |
Non-derivative financial liabilities | (195,631) | (195,790) |
Derivative financial assets/(liabilities) | ||
Interest rate derivatives | (103) | |
Foreign exchange derivatives | (696) | (600) |
Cross currency interest rate swaps | (852) | (187) |
Commodity derivatives | (26) | (97) |
Equity derivatives | (5,372) | (3,177) |
Derivative financial assets/(liabilities) | (6,901) | (4,164) |
Of which: related to cash flow hedges | (418) | (448) |
Contractual cash flows [member] | Less than 1 year [member] | ||
Non-derivative financial liabilities | ||
Secured bank loans | (675) | (795) |
Commercial papers | (1,522) | (1,599) |
Unsecured bank loans | (299) | (140) |
Unsecured bond issues | (3,582) | (5,513) |
Unsecured other loans | (13) | (27) |
Finance lease liabilities | (460) | (404) |
Bank overdraft | (5) | (68) |
Trade and other payables | (22,906) | (22,861) |
Non-derivative financial liabilities | (29,462) | (31,407) |
Derivative financial assets/(liabilities) | ||
Interest rate derivatives | (7) | |
Foreign exchange derivatives | (696) | (600) |
Cross currency interest rate swaps | (8) | 75 |
Commodity derivatives | (26) | (97) |
Equity derivatives | (4,455) | (3,177) |
Derivative financial assets/(liabilities) | (5,159) | (3,806) |
Of which: related to cash flow hedges | (353) | (408) |
Contractual cash flows [member] | 1-2 years [member] | ||
Non-derivative financial liabilities | ||
Secured bank loans | (14) | (18) |
Unsecured bank loans | (47) | |
Unsecured bond issues | (4,057) | (6,415) |
Unsecured other loans | (8) | (17) |
Finance lease liabilities | (425) | (350) |
Trade and other payables | (1,103) | (1,227) |
Non-derivative financial liabilities | (5,607) | (8,074) |
Derivative financial assets/(liabilities) | ||
Interest rate derivatives | (1) | |
Cross currency interest rate swaps | (575) | (285) |
Equity derivatives | (917) | |
Derivative financial assets/(liabilities) | (1,473) | (286) |
Of which: related to cash flow hedges | 5 | |
Contractual cash flows [member] | 2-3 years [member] | ||
Non-derivative financial liabilities | ||
Secured bank loans | (12) | (18) |
Unsecured bank loans | (1) | |
Unsecured bond issues | (3,823) | (6,518) |
Unsecured other loans | (6) | (9) |
Finance lease liabilities | (315) | (243) |
Trade and other payables | (135) | (472) |
Non-derivative financial liabilities | (4,291) | (7,261) |
Derivative financial assets/(liabilities) | ||
Interest rate derivatives | (1) | |
Cross currency interest rate swaps | (98) | 6 |
Derivative financial assets/(liabilities) | (98) | 5 |
Of which: related to cash flow hedges | 3 | |
Contractual cash flows [member] | 3-5 years [member] | ||
Non-derivative financial liabilities | ||
Secured bank loans | (10) | (22) |
Unsecured bond issues | (16,557) | (18,605) |
Unsecured other loans | (57) | (5) |
Finance lease liabilities | (424) | (285) |
Trade and other payables | (197) | (165) |
Non-derivative financial liabilities | (17,245) | (19,082) |
Derivative financial assets/(liabilities) | ||
Interest rate derivatives | 3 | |
Cross currency interest rate swaps | (132) | 75 |
Derivative financial assets/(liabilities) | (132) | 78 |
Of which: related to cash flow hedges | (65) | 5 |
Contractual cash flows [member] | Greater than 5 years [member] | ||
Non-derivative financial liabilities | ||
Secured bank loans | (24) | (37) |
Unsecured bond issues | (137,793) | (128,373) |
Unsecured other loans | (31) | (73) |
Finance lease liabilities | (831) | (1,056) |
Trade and other payables | (347) | (427) |
Non-derivative financial liabilities | (139,026) | (129,966) |
Derivative financial assets/(liabilities) | ||
Interest rate derivatives | (97) | |
Cross currency interest rate swaps | (39) | (58) |
Derivative financial assets/(liabilities) | $ (39) | (155) |
Of which: related to cash flow hedges | $ (53) |
Risks Arising from Financial_17
Risks Arising from Financial Instruments - Summary for Each Type of Derivative Fair Value Recognized as Assets and Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about financial instruments [line items] | ||
Assets | $ 965 | $ 362 |
Liabilities | (6,804) | (4,151) |
Net | (5,839) | (3,789) |
Non-current, Assets | 138 | 132 |
Non-current, Liabilities | (1,759) | (352) |
Non-current, Net | (1,621) | (220) |
Derivatives | 827 | 230 |
Derivatives | (5,046) | (3,799) |
Current derivative financial assets liabilities, net, Total | (4,218) | (3,569) |
Forward exchange contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 480 | 112 |
Liabilities | (691) | (590) |
Net | (211) | (478) |
Foreign currency futures [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 36 | 7 |
Liabilities | (5) | (9) |
Net | 31 | (2) |
Interest rate swap [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 80 | 18 |
Liabilities | (6) | |
Net | 80 | 12 |
Cross currency interest rate swap [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 107 | 157 |
Liabilities | (709) | (175) |
Net | (602) | (18) |
Other interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Liabilities | (97) | |
Net | (97) | |
Aluminum swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 170 | 15 |
Liabilities | (10) | (61) |
Net | 160 | (46) |
Sugar futures commodity contract [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 10 | 2 |
Liabilities | (2) | |
Net | 10 | |
Wheat futures commodity contract [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 14 | |
Liabilities | (1) | (9) |
Net | (1) | 5 |
Other commodity contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 46 | 13 |
Liabilities | (8) | (14) |
Net | 38 | (1) |
Equity derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 27 | 17 |
Liabilities | (5,373) | (3,177) |
Net | (5,346) | (3,160) |
Energy futures commodity contract [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 9 | 8 |
Liabilities | (7) | (11) |
Net | $ 2 | $ (3) |
Risks Arising from Financial_18
Risks Arising from Financial Instruments - Summary of Carrying Amount of Fixed Rate Interest-Bearing Financial Liabilities and Fair Value (Detail) - Fixed interest rate [member] - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | $ (94,604) | $ (96,601) |
Fair value | (118,536) | (113,983) |
Australian Dollar [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (846) | (1,647) |
Fair value | (964) | (1,748) |
Brazilian Real [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (578) | (544) |
Fair value | (578) | (542) |
Canadian Dollar [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (613) | (2,055) |
Fair value | (633) | (2,046) |
Euro [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (26,093) | (25,346) |
Fair value | (29,809) | (30,365) |
Pound Sterling [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (3,655) | (4,373) |
Fair value | (4,301) | (4,816) |
US Dollar [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (62,340) | (62,205) |
Fair value | (81,771) | (74,035) |
Other currency [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (479) | (431) |
Fair value | $ (480) | $ (431) |
Risks Arising from Financial_19
Risks Arising from Financial Instruments - Analysis of Financial Instruments (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | $ 5,991 | $ 6,009 |
Financial Liabilities | 126,176 | 128,379 |
Quoted (unadjusted) prices- level 1 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 29 | 19 |
Financial Liabilities | 46 | 21 |
Quoted (unadjusted) prices- level 1 [member] | Derivative liabilities [member] | Cash flow hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 46 | 21 |
Quoted (unadjusted) prices- level 1 [member] | Non derivative financial assets [member] | Held-to-maturity investments, category [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 2 | |
Quoted (unadjusted) prices- level 1 [member] | Derivatives [member] | Cash flow hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 29 | 17 |
Observable market inputs - level 2 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 948 | 354 |
Financial Liabilities | 6,759 | 4,130 |
Observable market inputs - level 2 [member] | Derivative liabilities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 6,119 | |
Observable market inputs - level 2 [member] | Derivative liabilities [member] | Cash flow hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 353 | 586 |
Observable market inputs - level 2 [member] | Derivative liabilities [member] | Fair value hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 103 | |
Observable market inputs - level 2 [member] | Derivative liabilities [member] | Net investment hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 287 | |
Observable market inputs - level 2 [member] | Derivative liabilities [member] | Deferred consideration on acquisitions [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Observable market inputs - level 2 [member] | Derivatives at fair value through profit and loss [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 3,441 | |
Observable market inputs - level 2 [member] | Non derivative financial assets [member] | Held-to-maturity investments, category [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 11 | 9 |
Observable market inputs - level 2 [member] | Derivatives [member] | Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 457 | 119 |
Observable market inputs - level 2 [member] | Derivatives [member] | Cash flow hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 343 | 153 |
Observable market inputs - level 2 [member] | Derivatives [member] | Fair value hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 80 | 19 |
Observable market inputs - level 2 [member] | Derivatives [member] | Net investment hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 57 | 54 |
Observable Market Inputs - Level 3 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 1,251 | 1,639 |
Observable Market Inputs - Level 3 [member] | Derivative liabilities [member] | Deferred consideration on acquisitions [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | $ 1,251 | $ 1,639 |
Risks arising from Financial_20
Risks arising from Financial instruments - Summary of Hedging Reserve and Hedging Instruments (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about hedging instruments [line items] | ||
As per 1 January | $ 397 | $ 494 |
Change in fair value of hedging instrument recognized in OCI | 384 | 107 |
Reclassified to profit or loss / cost of inventory | (404) | (204) |
As per 31 December | 376 | 397 |
Foreign currency futures [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
As per 1 January | 174 | 480 |
Change in fair value of hedging instrument recognized in OCI | 353 | 92 |
Reclassified to profit or loss / cost of inventory | (507) | (398) |
As per 31 December | 20 | 174 |
Commodity Contracts [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
As per 1 January | 117 | (60) |
Change in fair value of hedging instrument recognized in OCI | 31 | 16 |
Reclassified to profit or loss / cost of inventory | 126 | 162 |
As per 31 December | 274 | 117 |
Other hedging instrument [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
As per 1 January | 107 | 76 |
Reclassified to profit or loss / cost of inventory | (23) | 32 |
As per 31 December | $ 84 | $ 107 |
Risks Arising from Financial_21
Risks Arising from Financial Instruments - Summary of Offsetting Financial Assets and Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross amount | $ 965 | $ 362 |
Net amount recognized in the statement of financial position | 965 | 362 |
Other offsetting agreements | (954) | (352) |
Total net amount | 11 | 10 |
Derivative liabilities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross amount | (6,804) | (4,151) |
Net amount recognized in the statement of financial position | (6,804) | (4,151) |
Other offsetting agreements | 954 | 352 |
Total net amount | $ (5,851) | $ (3,799) |
Operating Leases - Summary of M
Operating Leases - Summary of Maturity Analysis of the Non-Cancelable Lease Payments (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of maturity analysis of operating lease payments [line items] | |||
Undiscounted operating lease payments to be received | $ 923 | $ 888 | $ 829 |
Less than 1 year [member] | |||
Disclosure of maturity analysis of operating lease payments [line items] | |||
Undiscounted operating lease payments to be received | 157 | 155 | 152 |
Between 1 and 5 years [member] | |||
Disclosure of maturity analysis of operating lease payments [line items] | |||
Undiscounted operating lease payments to be received | 405 | 518 | 460 |
Greater than 5 years [member] | |||
Disclosure of maturity analysis of operating lease payments [line items] | |||
Undiscounted operating lease payments to be received | $ 361 | $ 215 | $ 217 |
Operating Leases - Additional I
Operating Leases - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of finance lease and operating lease by lessee [line items] | |||
Income from subleasing right-of-use assets | $ 107 | $ 152 | $ 133 |
Pubs leased from Cofinimmo [member] | Bottom of range [member] | |||
Disclosure of finance lease and operating lease by lessee [line items] | |||
Sublease average outstanding period | 6 | ||
Pubs leased from Cofinimmo [member] | Top of range [member] | |||
Disclosure of finance lease and operating lease by lessee [line items] | |||
Sublease average outstanding period | 8 |
Collateral and Contractual Co_3
Collateral and Contractual Commitments for the Acquisition of Property, Plant and Equipment, Loans to Customers and Other - Summary of Collateral and Contractual Commitments for Acquisition of Property, Plant And Equipment, Loans to Customers and Other (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Collateral and contractual commitments [abstract] | ||
Collateral given for own liabilities | $ 391 | $ 372 |
Contractual commitments to purchase property, plant and equipment | 528 | 457 |
Contractual commitments to acquire loans to customers | 150 | 151 |
Other commitments | $ 1,953 | $ 1,911 |
Collateral and Contractual Co_4
Collateral and Contractual Commitments for the Acquisition of Property, Plant and Equipment, Loans to Customers and Other - Additional Information (Detail) shares in Millions, $ in Millions, R in Billions | 1 Months Ended | 12 Months Ended | ||||
Jan. 31, 2018 | Dec. 31, 2020USD ($)shares | Dec. 31, 2020ZAR (R)shares | Dec. 31, 2020USD ($)€ / shares | Dec. 31, 2020ZAR (R) | Dec. 31, 2019USD ($) | |
Disclosure of collateral and contractual commitments [line items] | ||||||
Collateral given for own liabilities | $ 391 | $ 391 | $ 372 | |||
Cash guarantees for liabilities | 184 | 184 | 219 | |||
Property collateral given for remaining own liabilities | 207 | 207 | 153 | |||
Commitments to purchase property plant and equipment | 528 | 528 | 457 | |||
Contractual commitments to acquire loans to customers | 150 | 150 | 151 | |||
Other commitments | $ 1,953 | $ 1,953 | 1,911 | |||
EUR [Member] | ||||||
Disclosure of collateral and contractual commitments [line items] | ||||||
Share price | € / shares | $ 57.01 | |||||
Closing rate | 18.021914 | 18.021914 | 18.021914 | |||
Facilitation And Notional Vendor Funding [Member] | ||||||
Disclosure of collateral and contractual commitments [line items] | ||||||
Number Of Shares Settlement | shares | 5.4 | 5.4 | ||||
Estimated obligation | $ 4,000 | $ 4,000 | R 55 | |||
Stock option plans [member] | ||||||
Disclosure of collateral and contractual commitments [line items] | ||||||
Loaned securities | $ 30 | 30 | ||||
Ordinary shares [member] | Stock option plans [member] | ||||||
Disclosure of collateral and contractual commitments [line items] | ||||||
Stock lending arrangements shares | shares | 30 | 30 | ||||
CERVECERIA NACIONAL DOMINICANA S.A. [member] | Ambev [member] | ||||||
Disclosure of collateral and contractual commitments [line items] | ||||||
Ownership interest | 55.00% | 85.00% | 85.00% | |||
Put option | $ 7,000 | $ 7,000 | $ 7,000 | |||
SABMiller [Member] | ||||||
Disclosure of collateral and contractual commitments [line items] | ||||||
Sale or issue of treasury shares for settlement of obligation | $ 491 | R 86 | ||||
SABMiller [Member] | Treasury shares [member] | ||||||
Disclosure of collateral and contractual commitments [line items] | ||||||
Number Of Shares Settlement | shares | 10.8 | 10.8 | ||||
SABMiller [Member] | Sab Zenzele Holdings [Member] | ||||||
Disclosure of collateral and contractual commitments [line items] | ||||||
Percentage Of Obligations Due To Be Settled To The The Beneficiaries Of The Share Scheme | 77.40% | 77.40% | 77.40% | |||
SABMiller [Member] | Sab Zenzele Holdings [Member] | Settlement To Be Made To The Beneficiaries Of The Share Scheme Due To Outbreak Of Pandemic [Member] | ||||||
Disclosure of collateral and contractual commitments [line items] | ||||||
Percentage Of Obligations Due To Be Settled To The The Beneficiaries Of The Share Scheme | 22.60% | 22.60% | 22.60% | |||
SAB Foundation [member] | Treasury shares [member] | ||||||
Disclosure of collateral and contractual commitments [line items] | ||||||
Number Of Shares Settlement | shares | 1.3 | 1.3 |
Contingencies - Summary of Ab I
Contingencies - Summary of Ab Inbev's Material Tax Proceedings Related to Ambev and Its Subsidiaries (Detail) - Ambev [member] - Legal proceedings contingent liability [member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about material tax [line items] | ||
Income tax and social contribution | $ 10,372 | $ 10,781 |
Value-added and excise taxes | 4,483 | 5,514 |
Other taxes | 727 | 1,018 |
Material tax net | $ 15,582 | $ 17,313 |
Contingencies - Additional Info
Contingencies - Additional Information (Detail) € in Millions, R$ in Millions, $ in Millions, $ in Billions | 12 Months Ended | |||||||
Dec. 31, 2020USD ($)shares | Dec. 31, 2020EUR (€)shares | Dec. 31, 2020BRL (R$)shares | Dec. 31, 2020AUD ($)shares | Dec. 31, 2019USD ($)shares | Jan. 24, 2019USD ($) | Jan. 24, 2019EUR (€) | Dec. 31, 2018USD ($)shares | |
Disclosure of detailed information about material tax [line items] | ||||||||
Exposure to credit risk | $ 21,598 | $ 13,807 | ||||||
Provisions recorded | $ 763 | $ 911 | $ 1,918 | |||||
Number of shares issued | shares | 1,959,000,000 | 1,959,000,000 | 1,959,000,000 | 1,959,000,000 | 1,957,000,000 | 1,934,000,000 | ||
Disallowance Of Tax Paid Abroad [Member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | $ 2,300 | R$ 11700 | ||||||
Deductibility Of IOC Expenses [Member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | 2,000 | 10,200 | ||||||
Grupo Modelo Tax Matters [Member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | $ 4 | |||||||
Interest Deduction On SAB Acquistions [Member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Tax assessment amount | 3,000 | |||||||
Provisions recorded | 1,000 | |||||||
Income taxes paid (refund), classified as financing activities | 47 | |||||||
Ambev [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | $ 900 | R$ 4800 | ||||||
Ambev [member] | Legal proceedings contingent liability [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Number of shares issued | shares | 172,831,574 | 172,831,574 | 172,831,574 | 172,831,574 | ||||
Percentage of shares issued diluted | 1.00% | |||||||
Arosuco [member] | Disallowance Of Tax Paid Abroad [Member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | $ 400 | R$ 2000 | ||||||
Tax Assessment During 2005 [member] | Foreign subsidiaries [member] | In Bev Holding Brasil SA [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Exposure to credit risk | 1,400 | 7,300 | ||||||
Tax Assessment During 2005 [member] | Ambev [member] | In Bev Holding Brasil SA [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Provisions recorded | 10 | 53 | ||||||
Tax Assessment During 2005 [member] | Ambev [member] | Foreign subsidiaries [member] | In Bev Holding Brasil SA [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | 10,000 | 50,000 | ||||||
Tax Assessment in December 2011 [member] | Ambev [member] | In Bev Holding Brasil SA [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | 2,000 | 10,200 | ||||||
Tax Assessment in December 2011 [member] | Ambev [member] | In Bev Holding Brasil SA [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | 2,000 | 10,000 | ||||||
Tax Assessment in December 2011 [member] | Ambev [member] | CERVECERIA NACIONAL DOMINICANA S.A. [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | 200 | 10,000 | ||||||
Tax assessment in October 2013 [member] | Ambev [member] | Beverage Associates Holding Limited [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | 4,000 | 23,000 | ||||||
Tax Assessment in 2014 and 2015 [member] | Ambev [member] | IPI excise tax [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | R$ | 1,600 | |||||||
Tax Assessment in 2014 and 2015 [member] | Ambev [member] | IPI excise tax [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | 300 | |||||||
Tax Assessment in December 2015 [member] | Ambev [member] | Integration program social security financing levy [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | 3,000 | 17,000 | ||||||
Rio de Janeiro [member] | Arosuco [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | 100 | 500 | ||||||
Minas Gerais [member] | Ambev [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | 17,000 | 86,000 | ||||||
Provisions recorded | 1 | 7 | ||||||
State Of Pernambuco [member] | Ambev [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Estimate of possible loss | 4,000 | R$ 20000 | ||||||
Blocked account [member] | ||||||||
Disclosure of detailed information about material tax [line items] | ||||||||
Provisions recorded | $ 83 | € 68 | ||||||
Deposits | $ 83 | € 68 |
Non-Controlling Interests - Add
Non-Controlling Interests - Additional Information (Detail) $ in Millions | 1 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2020USD ($) | Sep. 30, 2019 | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Disclosure of noncontrolling interests [line items] | ||||
Dividends paid to non-controlling interests | $ 59 | |||
Apollo Global Management Inc [Member] | ||||
Disclosure of noncontrolling interests [line items] | ||||
Percentage of minority interest sold | 49.9 | |||
Proceeds from sales of investments accounted for using equity method | $ 3,000 | |||
Ambev [member] | ||||
Disclosure of noncontrolling interests [line items] | ||||
Proportion of ownership interests in subsidiary | 61.83% | 61.83% | ||
Dividends paid to non-controlling interests | $ 600 | $ 700 | ||
Budweiser APAC [Member] | ||||
Disclosure of noncontrolling interests [line items] | ||||
Proportion of ownership interests in subsidiary | 87.22% | 87.22% | 87.22% |
Non-Controlling Interests - Sum
Non-Controlling Interests - Summary of Financial Information of Material Non-controlling Interest (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |||
Summarized balance sheet information | |||||
Current assets | $ 26,519 | $ 28,814 | |||
Non-current assets | 199,891 | 207,834 | |||
Current liabilities | 32,352 | 34,841 | |||
Non-current liabilities | 115,707 | 117,254 | |||
Equity attributable to equity holders | 68,024 | 75,722 | |||
Non-controlling interests | 10,327 | 8,831 | |||
Summarized income statement and comprehensive income information | |||||
Revenue | 46,881 | 52,329 | $ 53,041 | [1] | |
Net income | 2,202 | 10,414 | 5,688 | [2] | |
Attributable to: | |||||
Equity holders | 1,405 | 9,171 | 4,370 | [1] | |
Non-controlling interests | 797 | 1,243 | 1,318 | [1] | |
Net income | 2,202 | 10,414 | 5,688 | [2] | |
Other comprehensive income | (10,104) | 498 | (7,756) | [2] | |
Total comprehensive income/(loss) | (7,901) | 10,912 | (2,068) | [2] | |
Attributable to: | |||||
Equity holders | (8,156) | 10,044 | (2,998) | [2] | |
Non-controlling interests | 255 | 867 | 930 | [2] | |
Summarized cash flow information | |||||
Cash flow from operating activities | 10,891 | 14,036 | [3] | 15,064 | [3],[4] |
Cash flow from investing activities | 6,336 | (4,931) | [3] | (3,966) | [3],[4] |
Cash flow from financing activities | (8,475) | (8,755) | [3] | (14,346) | [3],[4] |
Ambev [member] | |||||
Summarized balance sheet information | |||||
Current assets | 6,801 | 6,853 | |||
Non-current assets | 17,291 | 18,389 | |||
Current liabilities | 6,442 | 6,205 | |||
Non-current liabilities | 3,188 | 3,517 | |||
Equity attributable to equity holders | 14,204 | 15,203 | |||
Non-controlling interests | 257 | 317 | |||
Summarized income statement and comprehensive income information | |||||
Revenue | 11,373 | 13,196 | [5] | 13,819 | |
Net income | 2,286 | 3,093 | [5] | 3,122 | |
Attributable to: | |||||
Equity holders | 2,217 | 2,989 | [5] | 3,025 | |
Non-controlling interests | 69 | 104 | [5] | 97 | |
Net income | 2,286 | 3,093 | [5] | 3,122 | |
Other comprehensive income | 1,467 | (193) | [5] | 629 | |
Total comprehensive income/(loss) | 3,753 | 2,900 | [5] | 3,751 | |
Attributable to: | |||||
Equity holders | 3,647 | 2,801 | [5] | 3,620 | |
Non-controlling interests | 106 | 99 | [5] | 130 | |
Summarized cash flow information | |||||
Cash flow from operating activities | 3,673 | 4,664 | [5] | 5,089 | |
Cash flow from investing activities | (1,325) | (1,228) | [5] | (1,011) | |
Cash flow from financing activities | (1,676) | (3,117) | [5] | (3,799) | |
Net increase/(decrease) in cash and cash equivalents | 673 | 319 | [5] | 279 | |
Budweiser APAC [Member] | |||||
Summarized balance sheet information | |||||
Current assets | 2,332 | 2,108 | |||
Non-current assets | 13,857 | 13,200 | |||
Current liabilities | 4,637 | 4,493 | |||
Non-current liabilities | 809 | 931 | |||
Equity attributable to equity holders | 10,685 | 9,836 | |||
Non-controlling interests | 58 | 48 | |||
Summarized income statement and comprehensive income information | |||||
Revenue | 5,588 | 6,546 | [6] | 6,740 | [7] |
Net income | 537 | 908 | [6] | 959 | [7] |
Attributable to: | |||||
Equity holders | 514 | 898 | [6] | 958 | [7] |
Non-controlling interests | 23 | 10 | [6] | 1 | [7] |
Net income | 537 | 908 | [6] | 959 | [7] |
Other comprehensive income | 635 | (229) | [6] | (500) | [7] |
Total comprehensive income/(loss) | 1,172 | 679 | [6] | 459 | [7] |
Attributable to: | |||||
Equity holders | 1,147 | 665 | [6] | 458 | [7] |
Non-controlling interests | 25 | 14 | [6] | 1 | [7] |
Summarized cash flow information | |||||
Cash flow from operating activities | 1,306 | 1,379 | [6] | 1,684 | [7] |
Cash flow from investing activities | (628) | (743) | [6] | (472) | [7] |
Cash flow from financing activities | (383) | (1,349) | [6] | (1,237) | [7] |
Net increase/(decrease) in cash and cash equivalents | $ 295 | $ (713) | [6] | $ (25) | [7] |
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. | ||||
[2] | In 2019, the consolidated statement of comprehensive income for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application. | ||||
[3] | The consolidated statement of cash flows for 2019 and 2018 has been restated to include operating, investing and financing activities from discontinued operations separately in the cashflow statement. In addition, the 2019 cash flow from investing activities has been restated to reflect reclassification of the cash flow hedges in relation to the Australia divestiture reported in the financing activities in 2019 and recycled to profit or loss upon the completion of the transaction. | ||||
[4] | In 2019, the consolidated statement of cash flows for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. | ||||
[5] | In 2020, Ambev concluded the calculation of its tax credits on a judicial decision related to the exclusion of the Value-Added Tax (ICMS) from the taxable basis of the social contribution on gross revenues (PIS and COFINS). As a result of this judicial decision and other tax credit adjustments, in 2020, Ambev reclassified the tax credits previously reported in revenue to other operating income, and as such, restated its 2019 comparatives as required by IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. | ||||
[6] | 2020, Budweiser APAC reclassified the “Proceeds from cash pooling loans from AB InBev” from investing to financing activities in the summarized cash flow information. The presentation of the comparative amount has been restated to conform to the current year presentation. | ||||
[7] | The combined financial information for 2018 presents the historical financial information of the business of the Asia Pacific region of AB InBev, excluding Australia, and includes the assets, liabilities, revenue, expenses and cash flows attributable to all entities in the region, which are primarily in China, South Korea, India, Vietnam and Japan. |
Related Parties - Summary of Di
Related Parties - Summary of Directors and Executive Board Management Compensation (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Directors [member] | |||
Disclosure of transactions between related parties [line items] | |||
Short-term employee benefits | $ 2 | $ 2 | $ 2 |
Share-based payment | |||
Total Compensation | 2 | 2 | 2 |
Executive Board of Management [member] | |||
Disclosure of transactions between related parties [line items] | |||
Short-term employee benefits | 4 | 9 | 6 |
Termination benefits | 2 | 1 | |
Share-based payment | 7 | 25 | 34 |
Total Compensation | $ 13 | $ 35 | $ 40 |
Related Parties - Additional In
Related Parties - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
BAVARIA S.A. [member] | Transportation services, lease agreements and advertising services [member] | |||
Disclosure of transactions between related parties [line items] | |||
Amount received on services rendered | $ 13 | $ 11 | $ 8 |
Outstanding balance payable | $ 3 | 1 | |
Grupo Modelo and Subsidiaries [member] | |||
Disclosure of transactions between related parties [line items] | |||
Name of acquiree | Grupo Modelo and its subsidiaries | ||
Grupo Modelo and Subsidiaries [member] | Information technology and infrastructure services [member] | |||
Disclosure of transactions between related parties [line items] | |||
Amount received on services rendered | $ 1 | 2 | 1 |
United States defined benefit plans [member] | |||
Disclosure of transactions between related parties [line items] | |||
Other income | $ 12 | $ 12 | $ 12 |
Related Parties - Summary of Ag
Related Parties - Summary of Aggregate Amounts of AB InBev's Interest (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of joint ventures [line items] | ||||
Non-current assets | $ 199,891 | $ 207,834 | ||
Current assets | 26,519 | 28,814 | ||
Non-current liabilities | 115,707 | 117,254 | ||
Current liabilities | 32,352 | 34,841 | ||
Result from operations | 9,620 | 16,098 | $ 16,414 | [1] |
Profit attributable to equity holders of AB InBev | 1,405 | 9,171 | 4,370 | [1] |
Jointly controlled entities [member] | ||||
Disclosure of joint ventures [line items] | ||||
Non-current assets | 8 | 10 | 11 | |
Current assets | 2 | 3 | 5 | |
Non-current liabilities | 9 | 11 | 9 | |
Current liabilities | 12 | 10 | 12 | |
Result from operations | 3 | 3 | 4 | |
Profit attributable to equity holders of AB InBev | $ 3 | $ 3 | $ 3 | |
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Related Parties - Summary of AB
Related Parties - Summary of AB InBev's Transactions with Associates (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of associates [line items] | ||||
Gross profit | $ 27,247 | $ 31,967 | $ 33,108 | [1] |
Current assets | 26,519 | 28,814 | ||
Current liabilities | 32,352 | 34,841 | ||
Associates [member] | ||||
Disclosure of associates [line items] | ||||
Gross profit | (118) | (78) | (39) | |
Current assets | 55 | 38 | 84 | |
Current liabilities | $ 115 | $ 119 | $ 130 | |
[1] | In 2019, the consolidated income statement for 2018 was restated to reflect the impact of adoption of IFRS 16 under the full retrospective application and the classification of the Australian operations as discontinued operations. |
Events After the Balance Shee_3
Events After the Balance Sheet Date - Additional Information (Detail) - USD ($) $ in Billions | Feb. 18, 2021 | Mar. 31, 2020 | Jan. 11, 2021 |
Revolving Credit Facility [Member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Repayment of revolving credit facility | $ 9 | $ 9 | |
Major Redemptions Of Interest bearing loans and borrowings [Member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Principal amount redeemed | $ 3.1 | ||
Major Borrowings [Member] | Sustainable-Linked Loan Revolving Credit Facility [Member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Notional amount | $ 10.1 | ||
Borrowings, maturity | five-year |
Events after the balance shee_4
Events after the balance sheet date - Summary of exercising option to redeem outstanding principal amount (Detail) - Jan. 11, 2021 - Event After Reporting Date [Member] € in Millions, $ in Millions | EUR (€) | AUD ($) |
1.500% Notes due 2025 | ||
Disclosure Of Exercising Option To Redeem Outstanding Principal Amount [Line Items] | ||
Date of redemption | Jan. 28, 2021 | |
Issuer | ABISA | |
Title of series of notes issued exchanged | 1.500% Notes due 2025 | |
Currency | EUR | |
Original principal amount outstanding | € | € 2,147 | |
Principal amount not redeemed | € | € 2,147 | |
3.750% Notes due 2024 | ||
Disclosure Of Exercising Option To Redeem Outstanding Principal Amount [Line Items] | ||
Date of redemption | Jan. 27, 2021 | |
Issuer | ABIWW | |
Title of series of notes issued exchanged | 3.750% Notes due 2024 | |
Currency | AUD | |
Original principal amount outstanding | $ | $ 650 | |
Principal amount not redeemed | $ | $ 650 |
AB INBEV Companies - Summary of
AB INBEV Companies - Summary of Name and Registered Office of Fully Consolidated Companies (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Argentina [member] | CERVECERIA Y MALTERIA QUILMES SAICA y G [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | CERVECERIA Y MALTERIA QUILMES SAICA y G - Charcas 5160 - C1425BOF - Buenos Aires |
Proportion of ownership interest in subsidiary | 61.67% |
Belgium [member] | BRASSERIE DE L'ABBAYE DE LEFFE S.A. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | BRASSERIE DE L’ABBAYE DE LEFFE S.A. - Place de l’Abbaye 1 - 5500 – Dinant |
Proportion of ownership interest in subsidiary | 98.54% |
Belgium [member] | BROUWERU VAN HOEGAARDEN N.V. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | BROUWERIJ VAN HOEGAARDEN N.V. - Stoopkensstraat 46 - 3320 – Hoegaarden |
Proportion of ownership interest in subsidiary | 100.00% |
Belgium [member] | COBREW N.V. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | COBREW N.V. - Brouwerijplein 1 - 3000 – Leuven |
Proportion of ownership interest in subsidiary | 100.00% |
Belgium [member] | NBEV BELGIUM S.P.R.L. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | INBEV BELGIUM BV/SRL - Industrielaan 21 - 1070 – Brussel |
Proportion of ownership interest in subsidiary | 100.00% |
Botswana [member] | Kgalagadi Breweries (Pty) Ltd [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | KGALAGADI BREWERIES (Pty) Ltd - Plot 20768, Broadhurst industrial estate - Gaborone¹ |
Proportion of ownership interest in subsidiary | 31.00% |
Bolivia [member] | CERVECERIA BOLIVIANA NACIONAL S.A. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | CERVECERIA BOLIVIANA NACIONAL S.A. - Av. Montes 400 and Chuquisaca No. 121, Zona Challapampa - La Paz |
Proportion of ownership interest in subsidiary | 52.76% |
Brazil [Member] | Ambev [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | AMBEV S.A. - Rua Dr Renato Paes de Barros, 1017, 3° andar, Itaim Bibi - CEP 04530-001 - São Paulo |
Proportion of ownership interest in subsidiary | 61.83% |
Canada [member] | LABATT BREWING COMPANY LIMITED [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | LABATT BREWING COMPANY LIMITED - 207 Queen’s Quay West, Suite 299 - M5J 1A7 – Toronto |
Proportion of ownership interest in subsidiary | 61.83% |
Chile [member] | CERVECERIA CHILE S.A. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | CERVECERIA CHILE S.A. - Av. Presidente Eduardo Frei Montalva 9600 - 8700000 – Quilicura |
Proportion of ownership interest in subsidiary | 61.83% |
China [member] | ANHEUSER-BUSCH INBEV (CHINA) SALES CO LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV (CHINA) SALES CO LTD. - Shangshou, Qin Duan Kou, Hanyang Area - 430051 - Wuhan City, Hubei Province |
Proportion of ownership interest in subsidiary | 87.22% |
China [member] | ANHEUSER-BUSCH INBEV (WUHAN) BREWERY CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV (WUHAN) BREWERY CO. LTD. - Shangshou, Qin Duan Kou, Hanyang Area - 430051 - Wuhan City, Hubei Province |
Proportion of ownership interest in subsidiary | 84.66% |
China [member] | ANHEUSER-BUSCH INBEV (FOSHAN) BREWERY CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV (FOSHAN) BREWERY CO. LTD. - 1 Budweiser Avenue, Southwest St., Sanshui District - 528132 - Foshan City, Guangdong |
Proportion of ownership interest in subsidiary | 87.22% |
China [member] | ANHEUSER-BUSCH INBEV HARBIN BREWERY CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV HARBIN BREWERY CO. LTD. - 9 HaPi Road Pingfang District - 150066 - Harbin City, Heilongijang Province |
Proportion of ownership interest in subsidiary | 87.22% |
China [member] | ANHEUSER-BUSCH INBEV (TANGSHAN) BREWERY CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV (TANGSHAN) BREWERY CO. LTD. - 18, Yingbin Road - 063300 - Tangshan City, Hebei Province |
Proportion of ownership interest in subsidiary | 87.22% |
China [member] | ANHEUSER-BUSCH INBEV SEDRIN BREWERY CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV SEDRIN BREWERY CO. LTD. - 660 Gong Ye Road, Hanjiang District - 351111 - Putian City, Fujian Province |
Proportion of ownership interest in subsidiary | 87.22% |
China [member] | ANHEUSER-BUSCH INBEV SEDRIN (ZHANGZHOU) BREWERY CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV SEDRIN (ZHANGZHOU) BREWERY CO. LTD. - Lantian Economic District - 363005 - Zhangzhou City, Fujian Province |
Proportion of ownership interest in subsidiary | 87.22% |
China [member] | ANHEUSER-BUSCH INBEV (TAIZHOU) BREWERY CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV (TAIZHOU) BREWERY CO. LTD. - 159 Qi Xia East Road, Chengguan Town, Tiantai County - 317200 - Taizhou Cithy, Zhejiang Province |
Proportion of ownership interest in subsidiary | 87.22% |
China [member] | ANHEUSER-BUSCH INBEV SEDRIN (NANCHANG) BREWERY CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV SEDRIN (NANCHANG) BREWERY CO. LTD - 1188 Jinsha Avenue, Economic District - Nanchang City, Jiangxi Province |
Proportion of ownership interest in subsidiary | 87.22% |
China [member] | SIPING GINSBER DRAFT BEER CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | SIPING GINSBER DRAFT BEER CO. LTD. - Xianmaquan, Tiedong Area - Siping City, Jilin Province |
Proportion of ownership interest in subsidiary | 87.22% |
China [member] | ANHEUSER-BUSCH INBEV (NANTONG) BREWERY CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV (NANTONG) BREWERY CO. LTD. – 666 Zhaoxia Road – Nantong City, Jiangsu Province |
Proportion of ownership interest in subsidiary | 87.22% |
China [member] | ANHEUSER-BUSCH INBEV (SICHUAN) BREWERY CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV (SICHUAN) BREWERY CO. LTD. – No. 1, AB InBev Avenue, Cheng Nan Industry Park, Economic Development Area – 641300 – Ziyang City, Sichuan Province |
Proportion of ownership interest in subsidiary | 87.22% |
China [member] | ANHEUSER-BUSCH INBEV (HENAN) BREWERY CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV (HENAN) BREWERY CO. LTD. – No. 1 Budweiser Avenue, Industry Park, Tangzhuang Town – 453100 – Weihui City, Henan Province |
Proportion of ownership interest in subsidiary | 87.22% |
China [member] | INBEV JINLONGQUAN (HUBEI) BREWERY CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | INBEV JINLONGQUAN (HUBEI) BREWERY CO. LTD. – 89 Jin Long Quan Avenue – Jingmen City, Hubei Province |
Proportion of ownership interest in subsidiary | 52.33% |
China [member] | ANHEUSER-BUSCH INBEV (SUQIAN) BREWERY CO. LTD. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV (SUQIAN) BREWERY CO. LTD. – No 1 Qujiang Road, Suyu Industry Park – Suqian City, Jiangsu Province |
Proportion of ownership interest in subsidiary | 87.22% |
Colombia [member] | ZX Ventures Colombia S.A.S. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ZX VENTURES COLOMBIA S.A.S. – Carrera 53 A, No 127 – 35 – 110221 – Bogota |
Proportion of ownership interest in subsidiary | 100.00% |
Colombia [member] | BAVARIA S.A. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | BAVARIA & CIA S.C.A. – Carrera 53 A, No 127 – 35 – 110221 – Bogota |
Proportion of ownership interest in subsidiary | 99.14% |
Colombia [member] | Kopps Comercial S.A.S. S.A.S. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | KOPPS COMERCIAL S.A.S – Carrera 53 A, No 127 – 35 – 110221 – Bogota |
Proportion of ownership interest in subsidiary | 100.00% |
Czech Republic [member] | PIVOVAR SAMSON A.S. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | PIVOVAR SAMSON A.S. – V parku 2326/18, Chodov, 148 00 Praha 4 |
Proportion of ownership interest in subsidiary | 100.00% |
Dominican Republic [member] | CERVECERIA NACIONAL DOMINICANA S.A. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | CERVECERIA NACIONAL DOMINICANA S.A. – Autopista 30 de Mayo Km 61/2, Distrito Nacional – A.P. 1086 – Santo Domingo1 |
Proportion of ownership interest in subsidiary | 52.55% |
Ecuador [member] | CERVECERIA NACIONAL (CN) S,A. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | CERVECERÍA NACIONAL (CN) SA – Via a daule km 16,5 y calle cobre s/n – Guayaquil, Guayas |
Proportion of ownership interest in subsidiary | 95.58% |
El Salvador [member] | INDUSTRIAS LA CONSTANCIA, SA DE CV [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | INDUSTRIAS LA CONSTANCIA, SA DE CV – 526 Av. Independencia, San Salvador |
Proportion of ownership interest in subsidiary | 100.00% |
France [member] | AB INBEV FRANCE S.A.S. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | AB INBEV FRANCE S.A.S. – Immeuble Crystal, 38, Place Vauban – C.P. 59110 – La Madeleine |
Proportion of ownership interest in subsidiary | 100.00% |
Germany [member] | BRAUEREI BECK GmbH & CO. KG [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | BRAUEREI BECK GmbH & CO. KG – Am Deich 18/19 – 28199 – Bremen |
Proportion of ownership interest in subsidiary | 100.00% |
Germany [member] | BRAUEREI DIEBELS GmbH & CO.KG [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | BRAUEREI DIEBELS GmbH & CO.KG – Brauerei-Diebels-Strasse 1 – 47661 – Issum |
Proportion of ownership interest in subsidiary | 100.00% |
Germany [member] | HAAKE-BECK AG [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | HAAKE-BECK AG – Am Deich 18/19 – 28199 – Bremen |
Proportion of ownership interest in subsidiary | 99.96% |
Germany [member] | HASSERODER BRAUEREI GmbH [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | HASSERÖDER BRAUEREI GmbH – Auerhahnring 1 – 38855 – Wernigerode |
Proportion of ownership interest in subsidiary | 100.00% |
Germany [member] | ANHEUSER-BUSCH INBEV GERMANY HOLDING GmbH [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV GERMANY HOLDING GmbH – Am Deich 18/19 – 28199 – Bremen |
Proportion of ownership interest in subsidiary | 100.00% |
Germany [member] | SPATEN - FRANZISKANER - BRAU GmbH [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | SPATEN – FRANZISKANER – BRÄU GmbH – Marsstrasse 46 + 48 – 80335 – München |
Proportion of ownership interest in subsidiary | 100.00% |
Germany [member] | ANHEUSER-BUSCH INBEV Deutschland GmbH & Co KG [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV Deutschland GmbH & Co KG – Am Deich 18/19 – 28199 – Bremen |
Proportion of ownership interest in subsidiary | 100.00% |
Germany [member] | LOEWENBRAEU AG [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | LOEWENBRAEU AG – Nymphenburger Str. 7 – 80335 – München |
Proportion of ownership interest in subsidiary | 100.00% |
Ghana [member] | ACCRA BREWERY LTD [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ACCRA BREWERY LTD – Farra Avenue 20 1st Floor, Pkf Building, P.O. Box Gp1219 – Accra |
Proportion of ownership interest in subsidiary | 60.00% |
Luxembourg [member] | BRASSERIE DE LUXEMBOURG MOUSEL - DIEKIRCH [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | BRASSERIE DE LUXEMBOURG MOUSEL – DIEKIRCH – 1, Rue de la Brasserie – L-9214 – Diekirch |
Proportion of ownership interest in subsidiary | 95.82% |
Honduras [member] | CERVECERIA HONDURENA, SA DE CV [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | CERVECERÍA HONDUREÑA, SA DE CV – Blvd. Del Norte, Carretera Salida a Puerto Cortes – San Pedro Sula, Cortes |
Proportion of ownership interest in subsidiary | 99.60% |
Hong Kong [member] | BUDWEISER BREWING CO APACT LTD [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | BUDWEISER BREWING CO APAC LTD – Flat Room 1823 18F Soundwill Plaza II-Middle Town Hong Kong (SAR |
Proportion of ownership interest in subsidiary | 87.22% |
India [member] | CROWN BEERS INDIA LIMITED [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | CROWN BEERS INDIA LIMITED – 510/511 Minerva house, Sarojini devi road, Secunderabad |
Proportion of ownership interest in subsidiary | 87.22% |
India [member] | ANHEUSER BUSCH INBEV INDIA LIMITED [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER BUSCH INBEV INDIA LIMITED. – Unit No.301-302, Dynasty Business Park, 3rd Floor – Andheri – Kurla Road, Andheri (East) – 400059 – Mumbai, Maharashtra |
Proportion of ownership interest in subsidiary | 86.97% |
Italy [member] | Anheuser-Busch Inbev Italia SpA [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER BUSCH INBEV ITALIA SPA – Piazza Buffoni 3, 21013 Gallarate |
Proportion of ownership interest in subsidiary | 100.00% |
Mexico [member] | CERVECERIA MODELO DE MEXICO S. DE R.L. DE C.V [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | CERVECERIA MODELO DE MEXICO S. DE R.L. DE C.V – Cerrada de Palomas 22, Piso 6, Reforma Social – C.P. 11650 – Mexico City, CD MX |
Proportion of ownership interest in subsidiary | 100.00% |
Mozambique [member] | CERVEJAS DE MOCAMBIQUE SA [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | CERVEJAS DE MOÇAMBIQUE SA – Rua do Jardim 1329 – Maputo |
Proportion of ownership interest in subsidiary | 51.47% |
Netherlands [member] | INBEV NEDERLAND N.V. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | INBEV NEDERLAND N.V. – Ceresstraat 1 – 4811 CA – Breda |
Proportion of ownership interest in subsidiary | 100.00% |
Netherlands [member] | INTERBREW INTERNATIONAL B.V. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | INTERBREW INTERNATIONAL B.V. – Ceresstraat 1 – 4811 CA – Breda |
Proportion of ownership interest in subsidiary | 100.00% |
Netherlands [member] | AB InBev Africa B.V. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | AB INBEV AFRICA B.V – Ceresstraat 1, 4811 CA – Breda |
Proportion of ownership interest in subsidiary | 62.00% |
Netherlands [member] | AB InBev Botswana B.V. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | AB INBEV BOTSWANA B.V. – Ceresstraat 1, 4811 CA – Breda |
Proportion of ownership interest in subsidiary | 62.00% |
Nigeria [member] | INTERNATIONAL BREWERIES PLC [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | INTERNATIONAL BREWERIES PLC – 22/36 Glover Road, Lagos, Ikoyi, Nigeria |
Proportion of ownership interest in subsidiary | 43.65% |
Panama [member] | CERVECERIA NACIONAL HOLDING SA [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | CERVECERÍA NACIONAL S de RL – Ave. Ricardo J. Alfaro, Corregimiento de Betania, Distrito de Panamá, |
Proportion of ownership interest in subsidiary | 61.84% |
Paraguay [member] | CERVECERIA PARAGUAYA S.A. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | CERVECERIA PARAGUAYA S.A. – Ruta Villeta km 30 N 3045 – 2660 – Ypané |
Proportion of ownership interest in subsidiary | 54.01% |
Peru [member] | COMPANIA CERVECERA AMBEV PERU S.A.C. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | COMPANIA CERVECERA AMBEV PERU S.A.C. – Av. Los Laureles Mza. A Lt. 4 del Centro Poblado Menor Santa Maria de Huachipa – Lurigancho (Chosica) – Lima 15 |
Proportion of ownership interest in subsidiary | 97.22% |
Peru [member] | UNIOIN DE CERVECERIAS PERUANAS BACKUS Y JOHNSTON SAA [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | UNIÓN DE CERVECERÍAS PERUANAS BACKUS Y JOHNSTON SAA – 3986 Av. Nicolas Ayllon, Ate, Lima 3 |
Proportion of ownership interest in subsidiary | 93.78% |
South Africa [member] | SABSA HOLDINGS LTD [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | SABSA HOLDINGS LTD PUBLIC LIMITED COMPANY – 65 Park Lane, Sandown – 2001 – Johannesburg |
Proportion of ownership interest in subsidiary | 100.00% |
South Africa [member] | THE SOUTH AFRICAN BREWERIES (PTY) LTD [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | THE SOUTH AFRICAN BREWERIES (PTY) LTD LIMITED BY SHARES – 65 Park Lane, Sandown – 2146 – Johannesburg |
Proportion of ownership interest in subsidiary | 96.48% |
South Korea [member] | ORIENTAL BREWERY CO., LTD [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ORIENTAL BREWERY CO., LTD – 8F, ASEM Tower, 517, Yeongdong-daero, Gangnam-gu, Seoul, 06164, S. Korea |
Proportion of ownership interest in subsidiary | 87.22% |
Switzerland [member] | Anheuser Bush InBev Procurement (GMBH) [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV PROCUREMENT GMBH GESELLSCHAFT MIT BESCHRÄNKTER HAFTUNG (GMBH) - Suurstoffi 22 – 6343 - Rotkreuz |
Proportion of ownership interest in subsidiary | 100.00% |
Tanzania [member] | KIBO Breweries LTD Private Company [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | KIBO BREWERIES LTD PRIVATE COMPANY – Uhuru Street, Plot No 79, Block AA, Mchikichini, Ilala District – Dar es Salaam1 |
Proportion of ownership interest in subsidiary | 36.00% |
Uganda [member] | NILE BREWERIES LTD [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | NILE BREWERIES LTD – Plot M90 Yusuf Lule Roa, Njeru, Jinja – Eastern Uganda |
Proportion of ownership interest in subsidiary | 61.64% |
United Kingdom [member] | ABI SAB GROUP HOLDING LIMITED [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ABI SAB GROUP HOLDING LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN |
Proportion of ownership interest in subsidiary | 100.00% |
United Kingdom [member] | ABI UK HOLDINGS 1 LIMITED [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ABI UK HOLDINGS 1 LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN |
Proportion of ownership interest in subsidiary | 100.00% |
United Kingdom [member] | AB INBEV UK LTD [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | AB INBEV UK LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN |
Proportion of ownership interest in subsidiary | 100.00% |
United Kingdom [member] | AB InBev Holdings Limited [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | AB INBEV HOLDINGS LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN |
Proportion of ownership interest in subsidiary | 100.00% |
United Kingdom [member] | AB InBev International Brands Limited [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | AB INBEV INTERNATIONAL BRANDS LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN |
Proportion of ownership interest in subsidiary | 100.00% |
United Kingdom [member] | ZX VENTURES LIMITED [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ZX VENTURES LIMITED - Bureau, 90 Fetter Lane, London, United Kingdom, EC4A 1EN |
Proportion of ownership interest in subsidiary | 100.00% |
United States [member] | Anheuser Busch Companies [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH COMPANIES, LLC. - One Busch Place - St. Louis, MO 63118 |
Proportion of ownership interest in subsidiary | 100.00% |
United States [member] | ANHEUSER-BUSCH INTERNATIONAL, INC. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INTERNATIONAL, INC. - One Busch Place - St. Louis, MO 63118 |
Proportion of ownership interest in subsidiary | 100.00% |
United States [member] | ANHEUSER-BUSCH PACKAGING GROUP, INC. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH PACKAGING GROUP, INC. - One Busch Place - St. Louis, MO 63118 |
Proportion of ownership interest in subsidiary | 100.00% |
United States [member] | ANHEUSER-BUSCH, LLC [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH, LLC – One Busch Place, St. Louis, Mo. 63118 |
Proportion of ownership interest in subsidiary | 100.00% |
United States [member] | Metal Container Corporation, Inc [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | METAL CONTAINER CORPORATION, INC. – One Busch Place, St. Louis, Mo. 63118 |
Proportion of ownership interest in subsidiary | 50.10% |
United States [member] | Anheuser-Busch North American Holding Corporation [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH NORTH AMERICAN HOLDING CORPORATION - C/O THE CORPORATION TRUST COMPANY INC. - 1209 Orange Street - DE 19801 – Wilmington |
Proportion of ownership interest in subsidiary | 100.00% |
Uruguay [member] | CERVECERIA Y MALTERIA PAYSANDU S.A. [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | CERVECERIA Y MALTERIA PAYSANDU S.A. - Cesar Cortinas, 2037 - C.P. 11500 – Montevideo |
Proportion of ownership interest in subsidiary | 61.79% |
Vietnam [member] | ANHEUSER-BUSCH INBEV VIETNAM BREWERY COMPANY LIMITED [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANHEUSER-BUSCH INBEV VIETNAM BREWERY COMPANY LIMITED/No.2 VSIP II-A, Street no. 28, Vietnam - Singapore II-A Industrial Park, Tan Uyen District, Binh Duong Province |
Proportion of ownership interest in subsidiary | 87.22% |
Zambia [member] | ZAMBIAN BREWERIES PLC [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ZAMBIAN BREWERIES PLC - Mungwi Road, Plot Number 6438, Lusaka |
Proportion of ownership interest in subsidiary | 54.00% |
AB INBEV Companies - Summary _2
AB INBEV Companies - Summary of Name and Registered Office of Associates and Joint Ventures (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
France [member] | SOCIETE DES BRASSERIES ET GLACIERES INTERNATIONALES SA [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | SOCIETE DES BRASSERIES ET GLACIERES INTERNATIONALES SA - 49 Rue Francois 1er, Paris |
Proportion of ownership interest in subsidiary | 20.00% |
Gibraltar [member] | BIH BRASSERIES INTERNATIONALES HOLDING LTD [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | BIH BRASSERIES INTERNATIONALES HOLDING LTD - CC Building, 10th Floor, Main Street |
Proportion of ownership interest in subsidiary | 20.00% |
Gibraltar [member] | BIH BRASSERIES INTERNATIONALES HOLDING ANGOLA LTD [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | BIH BRASSERIES INTERNATIONALES HOLDING (ANGOLA) LTD - Suite 10/3, International Commercial |
Proportion of ownership interest in subsidiary | 27.00% |
Turkey [member] | ANADOLU EFES BIRACILIK VE MALT SANAYII AS [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | ANADOLU EFES BIRACILIK VE MALT SANAYII AS - Bahçelievler Mahallesi, Sehit Ibrahim Koparir |
Proportion of ownership interest in subsidiary | 24.00% |
Zimbabwe [member] | DELTA CORPORATION LTD [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | DELTA CORPORATION LTD - Sable house, P.O. Box BW 343, Northridge Close, Borrowdale, Harare |
Proportion of ownership interest in subsidiary | 25.39% |
Russia [member] | AB InBev Efes [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | AB INBEV EFES - 28 Moscovskaya Street, Moscow region - 141607 – Klin |
Proportion of ownership interest in subsidiary | 50.00% |