Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2022 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | FY |
Current Fiscal Year End Date | --12-31 |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity Registrant Name | Anheuser-Busch InBev SA/NV |
Entity Central Index Key | 0001668717 |
Entity File Number | 001-37911 |
Entity Incorporation, State or Country Code | C9 |
Entity Address, Address Line One | Brouwerijplein 1 |
Entity Address, City or Town | Leuven |
Entity Address, Country | BE |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
ICFR Auditor Attestation Flag | true |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 1,737,191,283 |
Entity Address, Postal Zip Code | 3000 |
Auditor Name | PwC Bedrijfsrevisoren BV / Reviseurs d’Entreprises SRL |
Auditor Firm ID | 1350 |
Auditor Location | Diegem, Belgium |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | John Blood |
Entity Address, Address Line One | Brouwerijplein 1 |
Entity Address, City or Town | Leuven |
Entity Address, Country | BE |
City Area Code | + 32 |
Local Phone Number | 16 27 61 11 |
Contact Personnel Email Address | Corporategovernance@ab-inbev.com |
Entity Address, Postal Zip Code | 3000 |
Ordinary shares [member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Ordinary shares without nominal value |
Security Exchange Name | NYSE |
No Trading Symbol Flag | true |
American Depositary Shares, each representing one ordinary share without nominal value | |
Document Information [Line Items] | |
Title of 12(b) Security | American Depositary Shares, each representing one ordinary share without nominal value |
Trading Symbol | BUD |
Security Exchange Name | NYSE |
3.750% Notes due 2042 (issued July 2012) | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.750% Notes due 2042 (issued July 2012) |
Trading Symbol | BUD42A |
Security Exchange Name | NYSE |
4.000% Notes due 2043 (issued January 2013) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.000% Notes due 2043 (issued January 2013) |
Trading Symbol | BUD/43 |
Security Exchange Name | NYSE |
4.625% Notes due 2044 (issued January 2014) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.625% Notes due 2044 (issued January 2014) |
Trading Symbol | BUD/44 |
Security Exchange Name | NYSE |
4.700% Notes due 2036 (issued January 2016) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.700% Notes due 2036 (issued January 2016) |
Trading Symbol | BUD/36 |
Security Exchange Name | NYSE |
4.900% Notes due 2046 (issued January 2016) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.900% Notes due 2046 (issued January 2016) |
Trading Symbol | BUD/46 |
Security Exchange Name | NYSE |
4.950% Notes due 2042 (issued December 2016) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.950% Notes due 2042 (issued December 2016) |
Trading Symbol | BUD/42 |
Security Exchange Name | NYSE |
6.625% Notes due 2033 (issued December 2016) | |
Document Information [Line Items] | |
Title of 12(b) Security | 6.625% Notes due 2033 (issued December 2016) |
Trading Symbol | BUD/33 |
Security Exchange Name | NYSE |
5.875% Notes due 2035 (issued December 2016) | |
Document Information [Line Items] | |
Title of 12(b) Security | 5.875% Notes due 2035 (issued December 2016) |
Trading Symbol | BUD/35 |
Security Exchange Name | NYSE |
4.000% Notes due 2028 (issued April 2018) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.000% Notes due 2028 (issued April 2018) |
Trading Symbol | BUD/28 |
Security Exchange Name | NYSE |
4.375% Notes due 2038 (issued April 2018) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.375% Notes due 2038 (issued April 2018) |
Trading Symbol | BUD/38 |
Security Exchange Name | NYSE |
4.600% Notes due 2048 (issued April 2018) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.600% Notes due 2048 (issued April 2018) |
Trading Symbol | BUD/48A |
Security Exchange Name | NYSE |
4.750% Notes due 2058 (issued April 2018) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.750% Notes due 2058 (issued April 2018) |
Trading Symbol | BUD/58 |
Security Exchange Name | NYSE |
Floating Rate Notes due 2024 (issued April 2018) | |
Document Information [Line Items] | |
Title of 12(b) Security | Floating Rate Notes due 2024 (issued April 2018) |
Trading Symbol | BUD/24A |
Security Exchange Name | NYSE |
4.750% Notes due 2029 (issued January 2019) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.750% Notes due 2029 (issued January 2019) |
Trading Symbol | BUD/29 |
Security Exchange Name | NYSE |
4.900% Notes due 2031 (issued January 2019) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.900% Notes due 2031 (issued January 2019) |
Trading Symbol | BUD/31 |
Security Exchange Name | NYSE |
5.450% Notes due 2039 (issued January 2019) | |
Document Information [Line Items] | |
Title of 12(b) Security | 5.450% Notes due 2039 (issued January 2019) |
Trading Symbol | BUD/39A |
Security Exchange Name | NYSE |
5.550% Notes due 2049 (issued January 2019) | |
Document Information [Line Items] | |
Title of 12(b) Security | 5.550% Notes due 2049 (issued January 2019) |
Trading Symbol | BUD/49 |
Security Exchange Name | NYSE |
5.800% Notes due 2059 (issued January 2019) | |
Document Information [Line Items] | |
Title of 12(b) Security | 5.800% Notes due 2059 (issued January 2019) |
Trading Symbol | BUD/59 |
Security Exchange Name | NYSE |
3.500% Notes due 2030 (issued April 2020) | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.500% Notes due 2030 (issued April 2020) |
Trading Symbol | BUD/30 |
Security Exchange Name | NYSE |
4.350% Notes due 2040 (issued April 2020) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.350% Notes due 2040 (issued April 2020) |
Trading Symbol | BUD/40 |
Security Exchange Name | NYSE |
4.500% Notes due 2050 (issued April 2020) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.500% Notes due 2050 (issued April 2020) |
Trading Symbol | BUD/50 |
Security Exchange Name | NYSE |
4.600% Notes due 2060 (issued April 2020) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.600% Notes due 2060 (issued April 2020) |
Trading Symbol | BUD/60 |
Security Exchange Name | NYSE |
Consolidated Income Statement
Consolidated Income Statement - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | [1] | Dec. 31, 2020 | [1] | |
Profit or loss [abstract] | |||||
Revenue | $ 57,786 | $ 54,304 | $ 46,881 | ||
Cost of sales | (26,305) | (23,097) | (19,634) | ||
Gross profit | 31,481 | 31,207 | 27,247 | ||
Distribution expenses | (6,389) | (5,889) | (5,104) | ||
Sales and marketing expenses | (6,752) | (7,292) | (6,861) | ||
Administrative expenses | (4,414) | (4,394) | (3,404) | ||
Other operating income/(expenses) | 841 | 805 | 845 | ||
Exceptional costs above profit from operations | (251) | (614) | (3,103) | ||
Profit from operations | 14,517 | 13,824 | 9,620 | ||
Finance cost | (6,047) | (6,040) | (8,419) | ||
Finance income | 1,898 | 431 | 722 | ||
Net finance income/(cost) | (4,148) | (5,609) | (7,697) | ||
Share of result of associates | 299 | 248 | 156 | ||
Exceptional share of results of associates | (1,143) | 0 | 0 | ||
Profit before tax | 9,524 | 8,463 | 2,079 | ||
Income tax expense | (1,928) | (2,350) | (1,932) | ||
Profit from continuing operations | 7,597 | 6,114 | 147 | ||
Profit from discontinued operations | 0 | 0 | 2,055 | ||
Profit of the period | 7,597 | 6,114 | 2,202 | ||
Profit/(loss) from continuing operations attributable to: | |||||
Equity holders of AB InBev | 5,969 | 4,670 | (650) | ||
Non-controlling interest | 1,628 | 1,444 | 797 | ||
Profit of the period attributable to: | |||||
Equity holders of AB InBev | 5,969 | 4,670 | 1,405 | ||
Non-controlling interest | $ 1,628 | $ 1,444 | $ 797 | ||
Basic earnings per share | $ 2.97 | $ 2.33 | $ 0.7 | ||
Diluted earnings per share | 2.91 | 2.28 | 0.69 | ||
Basic earnings per share from continuing operations | 2.97 | 2.33 | (0.33) | ||
Diluted earnings per share from continuing operations | $ 2.91 | $ 2.28 | $ (0.33) | ||
[1]Amended to conform to 2022 presentation. |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income/(loss) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Statement of comprehensive income [abstract] | |||||
Profit of the period | $ 7,597 | $ 6,114 | [1] | $ 2,202 | [1] |
Other comprehensive income/(loss): items that will not be reclassified to profit or loss: | |||||
Re-measurements of post-employment benefits | 519 | 504 | (263) | ||
Other comprehensive income/(loss) that will not be reclassified to profit or loss, net of tax | 519 | 504 | (263) | ||
Other comprehensive income/(loss): items that may be reclassified subsequently to profit or loss: | |||||
Exchange differences on translation of foreign operations | (1,298) | (4,681) | (10,951) | ||
Effective portion of changes in fair value of net investment hedges | (173) | 156 | 479 | ||
Cash flow hedges recognized in equity | 183 | 1,060 | 739 | ||
Cash flow hedges reclassified from equity to profit or loss | (546) | (920) | (533) | ||
Cash flow hedges and cumulative translation adjustments reclassified from equity to profit or loss in relation to Australia divestiture | 0 | 0 | 426 | ||
Other comprehensive income/(loss) that will be reclassified to profit or loss net of tax | (1,834) | (4,385) | (9,841) | ||
Other comprehensive income/(loss), net of tax | (1,315) | (3,881) | [1] | (10,104) | [1] |
Total comprehensive income/(loss) | 6,283 | 2,233 | (7,901) | ||
Attributable to: | |||||
Equity holders of AB InBev | 4,994 | 934 | (8,156) | ||
Non-controlling interest | $ 1,289 | $ 1,299 | $ 255 | ||
[1]Amended to conform to 2022 presentation. |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Non-current assets | ||
Property, plant and equipment | $ 26,671 | $ 26,678 |
Goodwill | 113,010 | 115,796 |
Intangible assets | 40,209 | 40,430 |
Investment in associates | 4,656 | 5,874 |
Investment securities | 175 | 161 |
Deferred tax assets | 2,300 | 1,969 |
Pensions and similar obligations | 11 | 5 |
Income tax receivables | 883 | 1,137 |
Derivatives | 60 | 48 |
Trade and other receivables | 1,782 | 1,580 |
Total non-current assets | 189,757 | 193,678 |
Current assets | ||
Investment securities | 97 | 374 |
Inventories | 6,612 | 5,399 |
Income tax receivables | 813 | 381 |
Derivatives | 331 | 621 |
Trade and other receivables | 5,330 | 5,046 |
Cash and cash equivalents | 9,973 | 12,097 |
Assets classified as held for sale | 30 | 30 |
Total current assets | 23,186 | 23,949 |
Total assets | 212,943 | 217,627 |
Equity | ||
Issued capital | 1,736 | 1,736 |
Share premium | 17,620 | 17,620 |
Reserves | 15,218 | 15,431 |
Retained earnings | 38,823 | 33,882 |
Equity attributable to equity holders of AB InBev | 73,398 | 68,669 |
Non-controlling interests | 10,880 | 10,671 |
Total equity | 84,278 | 79,340 |
Non-current liabilities | ||
Interest-bearing loans and borrowings | 78,880 | 87,369 |
Pensions and similar obligations | 1,534 | 2,261 |
Deferred tax liabilities | 11,818 | 12,204 |
Income tax payables | 610 | 726 |
Derivatives | 184 | 100 |
Trade and other payables | 859 | 1,008 |
Provisions | 396 | 436 |
Total non-current liabilities | 94,282 | 104,104 |
Current liabilities | ||
Bank overdrafts | 83 | 53 |
Interest-bearing loans and borrowings | 1,029 | 1,408 |
Income tax payables | 1,438 | 1,334 |
Derivatives | 5,308 | 5,786 |
Trade and other payables | 26,349 | 25,434 |
Provisions | 176 | 169 |
Total current liabilities | 34,383 | 34,184 |
Total equity and liabilities | $ 212,943 | $ 217,627 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - USD ($) $ in Millions | Total | Issued capital [member] | Share premium [member] | Treasury shares [member] | Reserves [member] | OCI reserves [member] | Retained earnings [member] | Equity attributable to owners of parent [member] | Non-controlling interest [member] | |||||
Beginning balance at Dec. 31, 2019 | $ 84,553 | $ 1,736 | $ 17,620 | $ (6,270) | $ 52,431 | [1] | $ (21,279) | $ 31,484 | $ 75,722 | $ 8,831 | ||||
Profit of the period | 2,202 | [1] | 1,405 | 1,405 | 797 | |||||||||
Other comprehensive income/(loss) | [1] | (10,104) | (9,562) | (9,562) | (541) | |||||||||
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 | [1] | 3 | 17 | |||||||||
Hyperinflation monetary adjustments | 259 | 160 | 160 | 99 | ||||||||||
Sale/(purchase) of non-controlling interest | 2,985 | [2] | 1,116 | [1] | 1,116 | [2] | 1,869 | [2] | ||||||
Scope and other changes | (26) | (87) | (87) | 60 | ||||||||||
Ending balance at Dec. 31, 2020 | 78,351 | 1,736 | 17,620 | (4,911) | 53,550 | [1] | (30,841) | 30,870 | 68,024 | 10,327 | ||||
Profit of the period | 6,114 | [1] | 4,670 | 4,670 | 1,444 | |||||||||
Other comprehensive income/(loss) | [1] | (3,881) | (3,736) | (3,736) | (145) | |||||||||
Total comprehensive income/(loss) | 2,233 | (3,736) | 4,670 | 934 | 1,299 | |||||||||
Dividends | (2,251) | (1,139) | (1,139) | (1,112) | ||||||||||
Treasury shares | 81 | 917 | (836) | 81 | ||||||||||
Share-based payments | 478 | 451 | [1] | 451 | 28 | |||||||||
Hyperinflation monetary adjustments | 374 | 231 | 231 | 143 | ||||||||||
Scope and other changes | 73 | 86 | 86 | (14) | ||||||||||
Ending balance at Dec. 31, 2021 | 79,340 | 1,736 | 17,620 | (3,994) | 54,001 | [1] | (34,577) | 33,882 | 68,669 | 10,671 | ||||
Profit of the period | 7,597 | 5,969 | 5,969 | 1,628 | ||||||||||
Other comprehensive income/(loss) | (1,315) | (976) | (976) | (339) | ||||||||||
Total comprehensive income/(loss) | 6,283 | (976) | 5,969 | 4,994 | 1,289 | |||||||||
Dividends | (2,553) | (1,198) | (1,198) | (1,355) | ||||||||||
Treasury shares | 95 | 289 | (193) | 95 | ||||||||||
Share-based payments | 497 | 477 | 477 | 20 | ||||||||||
Hyperinflation monetary adjustments | 616 | 380 | 380 | 236 | ||||||||||
Scope and other changes | 1 | (18) | (18) | 19 | ||||||||||
Ending balance at Dec. 31, 2022 | $ 84,278 | $ 1,736 | $ 17,620 | $ (3,706) | $ 54,477 | $ (35,553) | $ 38,823 | $ 73,398 | $ 10,880 | |||||
[1]Amended to conform to 2022 presentation.[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 21 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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||||
OPERATING ACTIVITIES | ||||||
Profit of the period | $ 7,597 | $ 6,114 | [1] | $ 147 | [1] | |
Depreciation, amortization and impairment | 5,078 | 5,052 | [1] | 4,829 | [1] | |
Impairment losses on goodwill | [1] | 2,500 | ||||
Net finance cost/(income) | 4,148 | 5,609 | [1] | 7,697 | [1] | |
Equity-settled share-based payment expense | 448 | 510 | [1] | 169 | [1] | |
Income tax expense | 1,928 | 2,350 | [1] | 1,932 | [1] | |
Other non-cash items | (102) | (581) | [1] | 53 | [1] | |
Share of result of associates | 844 | (248) | [1] | (156) | [1] | |
Cash flow from operating activities before changes in working capital and use of provisions | 19,941 | 18,806 | [1] | 17,171 | [1] | |
Decrease/(increase) in trade and other receivables | (48) | 164 | [1] | 516 | [1] | |
Decrease/(increase) in inventories | (1,547) | (1,232) | [1] | (427) | [1] | |
Increase/(decrease) in trade and other payables | 1,249 | 3,527 | [1] | 503 | [1] | |
Pension contributions and use of provisions | (351) | (375) | [1] | (616) | [1] | |
Cash generated from operations | 19,244 | 20,890 | [1] | 17,147 | [1] | |
Interest paid | (4,133) | (3,987) | [1] | (4,340) | [1] | |
Interest received | 611 | 200 | [1] | 255 | [1] | |
Dividends received | 158 | 106 | [1] | 51 | [1] | |
Income tax paid | (2,582) | (2,410) | [1] | (2,306) | [1] | |
Cash flow from operating activities on Australia discontinued operations | 0 | 0 | [1] | 84 | [1] | |
Cash flow from operating activities | 13,298 | 14,799 | [1] | 10,891 | [1] | |
INVESTING ACTIVITIES | ||||||
Acquisition of property, plant and equipment and of intangible assets | (5,160) | (5,640) | [1] | (3,781) | [1] | |
Proceeds from sale of property, plant and equipment and of intangible assets | 322 | 142 | [1] | 94 | [1] | |
Sale/(acquisition) of subsidiaries, net of cash disposed/ acquired of | (70) | (444) | [1] | (510) | [1] | |
Proceeds from sale/(acquisition) of other assets | 288 | 65 | [1] | (292) | [1] | |
Proceeds from Australia divestiture | 0 | 0 | [1] | 10,838 | [1] | |
Cash flow from investing activities on Australia discontinued operations | 0 | 0 | [1] | (13) | [1] | |
Cash flow from/(used in) investing activities | (4,620) | (5,878) | [1] | 6,336 | [1] | |
FINANCING ACTIVITIES | ||||||
Sale/(purchase) of non-controlling interests | (20) | 0 | [1] | 3,039 | [1] | |
Proceeds from borrowings | 91 | 454 | [1] | 14,822 | [1] | |
Payments on borrowings | (7,265) | (8,965) | [1] | (23,116) | [1] | |
Cash net finance (cost)/income other than interests | (374) | (192) | [1] | (953) | [1] | |
Payment of lease liabilities | (610) | (531) | [1] | (461) | [1] | |
Dividends paid | (2,442) | (2,364) | [1] | (1,800) | [1] | |
Cash flow from financing activities on Australia discontinued operations | 0 | 0 | [1] | (6) | [1] | |
Cash flow from/(used in) financing activities | (10,620) | (11,598) | [1] | (8,475) | [1] | |
Net increase/(decrease) in cash and cash equivalents | (1,942) | (2,677) | [1] | 8,752 | [1] | |
Cash and cash equivalents less bank overdrafts at beginning of year | [1] | 12,043 | 15,247 | 7,169 | ||
Effect of exchange rate fluctuations | (211) | (526) | [1] | (674) | [1] | |
Cash and cash equivalents less bank overdrafts at end of period | $ 9,890 | $ 12,043 | [1] | $ 15,247 | [1] | |
[1]Amended to conform to 2022 presentation. |
Corporate information
Corporate information | 12 Months Ended |
Dec. 31, 2022 | |
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). As a company, we dream big to create a future with more cheers. We are always looking to serve up new ways to meet life’s moments, move our industry forward and make a meaningful impact in the world. 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 b ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® than 600 years, spanning continents and generations. From our European roots at the Den Hoorn brewery in Leuven, Belgium. To the pioneering spirit of the Anheuser & Co brewery in St. Louis, US. To the creation of the Castle Brewery in South Africa during the Johannesburg gold rush. To Bohemia, the first brewery in Brazil. Geographically diversified with a balanced exposure to developed and developing markets, we leverage the collective strengths of approximately 167 000 employees based in nearly 50 countries worldwide. For 2022, AB InBev’s reported revenue was 57.8 billion US dollar (excluding joint ventures and associates). The consolidated financial statements of the company for the year ended 31 December 2022 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 14 March 2023. |
Statement of compliance
Statement of compliance | 12 Months Ended |
Dec. 31, 2022 | |
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 (collectively “IFRS”). AB InBev did not early apply any new IFRS requirements that were not yet effective in 2022 and did not apply any European carve-outs from IFRS. |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of significant accounting policies | 3. Summary of significant accounting policies The accounting policies applied are consistent to all periods presented in these consolidated financial statements by the company and its subsidiaries. (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) 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 v entur 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 34 AB InBev companies (D) SUMMARY OF CHANGES IN ACCOUNTING POLICIES A number of amendments to standards became mandatory for the first time for the financial year beginning on 1 January 2022 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. (E) 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 reporting 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 reporting 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 Financial Reporting in Hyperinflationary Economies Under IAS 29, non-monetary re-measured The 2022 results, restated for purchasing power, were translated at the December 2022 closing rate of 177.131872 Argentinean pesos per US dollar (2021 results - at 102.749214 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 177.131872 102.749214 84.143520 — — — Brazilian real 5.217705 5.580497 5.196694 5.164428 5.368651 5.133082 Canadian dollar 1.353834 1.270792 1.273981 1.297354 1.249693 1.346594 Colombian peso 4 807.99 3 977.14 3 438.52 4 211.36 3 741.19 3 689.50 Chinese yuan 6.898736 6.352382 6.537798 6.661729 6.456753 6.947936 Euro 0.937559 0.882924 0.814930 0.951768 0.841767 0.878101 Mexican peso 19.361452 20.583378 19.948838 20.123646 20.339905 21.182539 Pound sterling 0.831548 0.741903 0.732646 0.811905 0.725564 0.780195 Peruvian nuevo sol 3.820004 3.976006 3.621009 3.845294 3.877055 3.491580 South Korean won 1 260.16 1 188.32 1 088.02 1 286.17 1 139.06 1 185.02 South African rand 16.968472 15.947907 14.686598 16.392270 14.873785 16.213180 (F) 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 N). 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 generally over to 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 N). 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. (G) 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-meas urem (H) 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 bu sin 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 (I) PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is measured at cost less accumulated depreciation and impairment losses (refer to accounting policy N). 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 - 10 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. (J) 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. (K) 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 (L) 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 withi n 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. (M) 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. (N) IMPAIRMENT The carrying amounts of property, plant and equipment, goodwill and intangible assets are reviewed at each reporting 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 (O) 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 incorporate 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 (P) 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. The difference between the carrying value of the treasury shares issued to employees and their fair value is recognized in retained earnings. 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. (Q) 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. (R) PENSION AND SIMILAR OBLIGATIONS 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 statement of financial position 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. Bonuses Bonuses received by company employees and management are based on pre-defined (S) 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 a binomial Hull model, modified to reflect the IFRS 2 requirement that assumptions about forfeiture before the end of the vesting period cannot impact the fair value of the option. The fair value of the options granted is expensed over the vesting period based on the expected number of options that will vest. When the options are exercised, equity is increased by the amount of the proceeds received. (T) 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. (U) 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. (V) 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 reporting 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 |
Use of estimates and judgments
Use of estimates and judgments | 12 Months Ended |
Dec. 31, 2022 | |
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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 reporting 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 reporting 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 accounting for the impact of the conflict between Russia and Ukraine on the company’s results as discussed below. CONFLICT BETWEEN RUSSIA AND UKRAINE Management considered the impact of the conflict between Russia and Ukraine on the basis of preparation of these consolidated financial statements. On 11 March 2022, the company announced that it is forfeiting all financial benefits from the operations of AB InBev Efes, an associate which does business in Russia and Ukraine, in which it holds a 50% non-controlling non-controlling non-cash Exceptional items Investments in associates non-current |
Segment reporting
Segment reporting | 12 Months Ended |
Dec. 31, 2022 | |
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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 profit from operations as a measure of segment performance which forms part of the basis for many of the company’s segment performance indicators to make decisions regarding the allocation of resources. The organizational structure 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. On 1 June 2020, AB InBev divested CUB, its Australian subsidiary, to Asahi. 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. All figures in the tables below are stated in million US dollar, except volume (million hls). North America Middle Americas South America EMEA Asia Pacific 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 Volume 103 107 107 148 141 121 164 157 144 91 87 76 89 88 82 Revenue 16 566 16 257 15 622 14 180 12 541 10 032 11 599 9 494 8 092 8 120 8 032 6 835 6 532 6 848 5 648 Profit from operations 5 220 5 110 5 147 5 219 4 888 3 885 2 620 2 305 2 350 1 478 1 472 (1 722 ) 1 431 1 569 1 062 Net finance income/(cost) Share of results of associates Exceptional share of results of associates Income tax expense Profit from continuing operations Profit from discontinued operations Profit Segment assets (non-current) 63 379 63 722 63 765 66 262 67 516 72 331 14 297 12 917 12 348 30 918 34 098 35 578 12 397 13 453 13 845 Gross capex 695 868 646 1 319 1 307 829 1 001 1 154 727 1 011 1 051 768 496 605 508 FTE 20 040 19 691 20 281 52 355 51 969 48 751 42 028 42 209 40 630 21 306 22 215 22 357 24 331 26 095 26 510 Global Export and Holding AB InBev Worldwide 2022 2021 2020 2022 2021 2020 Volume 1 2 1 595 582 531 Revenue 790 1 133 652 57 786 54 304 46 881 Profit from operations (1451 ) (1 520 ) (1 103 ) 14 517 13 824 9 620 Net finance income/(cost) (4 148 ) (5 609 ) (7 697 ) Share of results of associates 299 248 156 Exceptional share of results of associates (1 143 ) — — Income tax expense (1 928 ) (2 350 ) (1 932 ) Profit from continuing operations 7 597 6 114 147 Profit from discontinued operations — — 2 055 Profit 7 597 6 114 2 202 Segment assets (non-current) 2 505 1 973 2 024 189 757 193 678 199 891 Gross capex 638 655 303 5 160 5 640 3 781 FTE 6 572 7 160 5 166 166 632 169 339 163 695 For the year ended 31 December 2022, net revenue from the beer business amounted to 51 544m US dollar (2021: 49 333m US dollar; 2020: 43 044m 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 632m US dollar (2021: 623m US dollar; 2020: 501m US dollar) and non-current |
Acquisitions and disposals of s
Acquisitions and disposals of subsidiaries | 12 Months Ended |
Dec. 31, 2022 | |
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Acquisitions and disposals of subsidiaries | 6. Acquisitions and disposals of subsidiaries The company undertook a series of acquisitions and disposals and/or settled payments related to prior year acquisitions during the year ended 31 December 2022 and 31 December 2021, with no significant impact in the consolidated financial statements. |
Other operating income_(expense
Other operating income/(expenses) | 12 Months Ended |
Dec. 31, 2022 | |
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Other operating income/(expenses) | 7. Other operating income/(expenses) Million US dollar 2022 2021 2020 Brazilian tax credits 201 226 481 Government grants 311 322 227 Net gain on disposal of property, plant and equipment, intangible assets and assets held for sale 82 65 56 License income 27 25 22 Net rental and other operating income 220 167 58 Other operating income/(expenses) 841 805 845 In 2022, Ambev, a subsidiary of AB InBev, recognized 201m US dollar income (2021: 226m US dollar; 2020: 481m US dollar) in Other operating income related to tax credits. Additionally, in 2022 Ambev recognized 168m US dollar (2021: 118m US dollar; 2020: 315m US dollar) of interest income on tax credits 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. |
Exceptional items
Exceptional items | 12 Months Ended |
Dec. 31, 2022 | |
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Exceptional items | 8. Exceptional items IAS 1 Presentation of financial statements The exceptional items included in the income statement are as follows: Million US dollar 2022 2021 2020 COVID-19 (18 ) (105 ) (182 ) Restructuring (110 ) (172 ) (157 ) Business and asset disposal (including impairment losses) (71 ) (247 ) (239 ) AB InBev Efes related costs (51 ) — — Acquisition costs business combinations (1 ) (17 ) (25 ) Zenzele Kabili costs — (72 ) — Impairment of goodwill — — (2 500 ) Impact on profit from operations (251 ) (614 ) (3 103 ) Exceptional net finance income/(cost) 498 (806 ) (1 738 ) Exceptional share of results of associates (1 143 ) — — Exceptional taxes 399 346 155 Exceptional non-controlling 13 20 228 Gain on divestiture of Australia (discontinued operations) — — 1 919 Net impact on profit (484 ) (1 054 ) (2 538 ) COVID-19 ) m )m )m COVID-19 The exceptional restructuring charges for 2022 total (110 )m )m )m one-time Business and asset disposals (including impairment losses) amount to (71 )m non-core )m )m non-cash )m AB InBev Efes related costs of (51 )m US dollar for 2022 relate to the discontinuation of exports to Russia and the forfeiting of company benefits from the operations of the associate. The acquisition costs of business combinations amounted to (17 )m US dollar for 2021, mainly comprising costs incurred in relation to the company’s joint venture partnerships. The acquisition costs of business combinations amounted to (25 )m US dollar for 2020 and mainly related to the acquisition of Craft Brew Alliance. In May 2021, the company set up a new broad-based black economic empowerment (“B-BBEE”) )m Changes in equity and earnings per share 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. On 1 June 2020, the company completed the previously announced sale of CUB, its Australian subsidiary to Asahi resulting in a net exceptional gain of 1 919m US dollar reported in discontinued operations. The results of the Australian operations were accounted for as discontinued operations and presented in a separate line in the consolidated income statement (“profit from discontinued operations”) up to 31 May 2020. The company incurred a exceptional net finance income of 498m US dollar for 2022 (2021: net finance cost of (806 )m )m Finance cost and income During 2022, the company recorded an impairment of (1 143)m US dollar on its investment in AB InBev Efes – see Note 4 Use of estimates and judgments Investments in associates All the amounts referenced above are before income taxes. The exceptional income taxes amounted to 399m US dollar (decrease of income taxes) for 2022 (2021: decrease of income taxes by 346m US dollar; 2020: decrease of income taxes by 155m US dollar) . The exceptional income taxes for the year ended 31 December 2022 are mainly driven by a reorganization which resulted in the utilization of current m US dollar). Non-controlling |
Payroll and related benefits
Payroll and related benefits | 12 Months Ended |
Dec. 31, 2022 | |
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Payroll and related benefits | 9. Payroll and related benefits Million US dollar 2022 2021 2020 Wages and salaries (4 621 ) (4 734 ) (4 124 ) Social security contributions (749 ) (670 ) (582 ) Other personnel cost (687 ) (706 ) (637 ) Share-based payment expense (448 ) (510 ) (169 ) Pension expense for defined benefit plans (154 ) (176 ) (218 ) Pension expense for defined contribution plans (164 ) (147 ) (91 ) Payroll and related benefits (6 822 ) (6 944 ) (5 821 ) The number of full-time equivalents can be split as follows: 2022 2021 2020 AB InBev NV/SA (parent company) 241 214 204 Other subsidiaries 166 391 169 125 163 491 Total number of FTE 166 632 169 339 163 695 |
Additional information on opera
Additional information on operating expenses by nature | 12 Months Ended |
Dec. 31, 2022 | |
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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 2022 consolidated income statement: Million US dollar Depreciation and Amortization and Depreciation and impairment of right- of-use Impairment of Cost of sales 3 008 78 36 — Distribution expenses 162 13 233 — Sales and marketing expenses 298 152 236 — Administrative expenses 299 416 124 — Other operating expenses 19 — — — Exceptional items — — — 4 Depreciation, amortization and impairment 3 786 659 629 4 Depreciation, amortization and impairment charges are included in the following line items of the 2021 consolidated income statement: Million US dollar Depreciation and Amortization and Depreciation and impairment of right- of-use Impairment of Cost of sales 2 782 91 39 — Distribution expenses 136 10 176 — Sales and marketing expenses 319 223 249 — Administrative expenses 306 327 110 — Other operating expenses 3 — — — Exceptional items — — — 281 Depreciation, amortization and impairment 3 546 651 574 281 Depreciation, amortization and impairment charges are included in the following line items of the 2020 consolidated income statement: Million US dollar (restated) Depreciation and Amortization and Depreciation and impairment of right- of-use Impairment of Cost of sales 2 599 91 42 — 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 3 392 708 499 2 733 |
Finance cost and income
Finance cost and income | 12 Months Ended |
Dec. 31, 2022 | |
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Finance cost and income | 11. Finance cost and income Finance cost and income included in the income statement are as follows: 2022 2021¹ 2020¹ Million US dollar Finance Finance Net Finance Finance Net Finance Finance Net Interest income/(expense) (3 588 ) 294 (3 294 ) (3 674 ) 113 (3 560 ) (4 004 ) 150 (3 854 ) Net interest on net defined benefit liabilities (73 ) — (73 ) (73 ) — (73 ) (82 ) — (82 ) Accretion expense (782 ) — (782 ) (593 ) — (593 ) (564 ) — (564 ) Mark-to-market — 331 331 (23 ) — (23 ) (1 211 ) — (1 211 ) Net interest income on Brazilian tax credits — 168 168 — 118 118 — 315 315 Other financial results (1 349 ) 352 (997 ) (871 ) 200 (671 ) (740 ) 177 (563 ) Finance income/(cost) excluding exceptional items (5 792 ) 1 146 (4 646 ) (5 234 ) 431 (4 803 ) (6 601 ) 642 (5 959 ) Exceptional finance income/(cost) (255 ) 753 498 (806 ) — (806 ) (1 818 ) 80 (1 738 ) Finance income/(cost) (6 047 ) 1 898 (4 148 ) (6 040 ) 431 (5 609 ) (8 419 ) 722 (7 697 ) Net finance costs, excluding exceptional items, were 4 646m US dollar in 2022 compared to 4 803m US dollar in 2021 and 5 959m US dollar in 2020. The decrease from 2022 to 2021 was predominantly due to a mark-to-market market-to-market In 2022, accretion expense includes interest on lease liabilities of 130m US dollar (2021: 123m US dollar; 2020: 116m US dollar), unwind of discounts of 499m US dollar on payables (2021: 349m US dollar; 2020: 306m US dollar), bond fees of 64m US dollar (2021: 67m US dollar; 2020: 102m US dollar) and interest on provisions of 89m US dollar (2021: 54m US dollar; 2020: 41m US dollar). Interest expense is presented net of the effect of interest rate derivative instruments hedging AB InBev’s interest rate risk – see also Note 27 Risks arising from financial instruments In 2022, Ambev, a subsidiary of AB InBev, recognized 201m US dollar income in Other operating income (refer to Note 7 Other operating income/(expenses) Other financial results for 2022, 2021 and 2020 include: 2022 2021¹ 2020¹ Million US dollar Finance Finance Net Finance Finance Net Finance Finance Net Net foreign exchange gains/(losses) (363 ) — (363 ) (101 ) — (101 ) — 43 43 Net gains/(losses) on hedging instruments (747 ) — (747 ) (562 ) — (562 ) (502 ) — (502 ) Hyperinflation monetary adjustments — 286 286 — 152 152 — 76 76 Other financial income/(cost), including bank fees and taxes (239 ) 66 (173 ) (208 ) 48 (160 ) (238 ) 58 (180 ) Other financial results (1 349 ) 352 (997 ) (871 ) 200 (671 ) (740 ) 177 (563 ) For further information on instruments hedging AB InBev’s foreign exchange risk, see Note 27 Risks arising from financial instruments. Exceptional finance income/(cost) for 2022, 2021 and 2020 includes: • 274m US dollar gain resulting from mark-to-market 1 Amended to conform to 2022 presentation. • 246m US dollar gain resulting from the redemption of certain bonds (2021:( 741 795 • ( 22 19 • In 2021, ( 22 The interest income stems from the following financial assets: Million US dollar 2022 2021 2020 Cash and cash equivalents 235 85 103 Investments in debt securities held for trading 39 16 1 Other loans and receivables 21 12 46 Total 294 113 150 The interest income on other loans and receivables includes the interest accrued on cash deposited as guarantees for certain legal proceedings pending their resolution. No interest income was recognized on impaired financial assets. |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2022 | |
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Income taxes | 12. Income taxes Income taxes recognized in the income statement can be detailed as follows: Million US dollar 2022 2021 1 2020 1 Current year (2 785 ) (2 857 ) (2 082 ) (Underprovided)/overprovided in prior years 157 159 119 Current tax expense (2 628 ) (2 698 ) (1 963 ) Origination and reversal of temporary differences 829 632 355 Recognition/(de-recognition) (128 ) (284 ) (324 ) Deferred tax (expense)/income 701 348 31 Total income tax expense in the income statement (1 928 ) (2 350 ) (1 932 ) The reconciliation of the effective tax rate with the aggregated weighted n omi Million US dollar 2022 2021¹ 2020¹ Profit/(loss) before tax 9 524 8 463 2 080 Deduct share of results of associates 299 248 156 Deduct exceptional share of results of associates (1 143 ) — — Profit before tax and before share of results of associates 10 369 8 215 1 924 Adjustments to the tax basis Government incentives (713 ) (543 ) (428 ) Non-deductible/(non-taxable) mark-to-market (606 ) 48 2 219 Non-deductible — — 2 500 Other expenses not deductible for tax purposes 1 590 1 979 1 512 Other non-taxable (576 ) (476 ) (250 ) Adjusted tax basis 10 065 9 223 7 477 Aggregate weighted nominal tax rate 26.7 % 26.7 % 27.7 % Tax at aggregated nominal tax rate (2 691 ) (2 463 ) (2 069 ) Adjustments on tax expense Recognition/(de-recognition) (128 ) (284 ) (324 ) (Underprovided)/overprovided in prior years 157 159 119 Deductions from interest on equity 790 469 431 Deductions from goodwill and other tax deductions 473 226 234 Change in tax rate 48 (147 ) 61 Withholding taxes (436 ) (485 ) (423 ) Other tax adjustments (140 ) 175 39 Total tax expense (1 928 ) (2 350 ) (1 932 ) Effective tax rate 18.6 % 28.6 % 100.4 % 1 Amended to conform to 2022 prese ntatio The total income tax expense for 2022 amounts to 1 928m US dollar compared to 2 350m US dollar for 2021 and 1 932m US dollar for 2020. The effective tax rate is 18.6% for 2022 compared to 28.6% for 2021 and 100.4% for 2020. The 2022 effective tax rate is positively impacted by non-taxable non-deductible In addition, the 2022 effective tax rate was positively impacted by higher distribution of interest on shareholders’ equity from Brazil and lower non-deductible include s m US dollar benefit from a reorganization which resulted in the utilization of current year and carry forward interests for which deferred tax asset was recognized (refer to Note Exceptional items ). 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 2022 2021 2020 Re-measurements (126 ) (123 ) 58 Exchange differences, cash flow and net investment hedges (51 ) (45 ) 304 Income tax (losses)/gains (177 ) (167 ) 361 |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2022 | |
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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 2022 31 December 2021 Property, plant and equipment owned 24 245 24 459 Property, plant and equipment leased (right-of-use 2 426 2 219 Total property, plant and equipment 26 671 26 678 31 December 2022 31 December Million US dollar Land and Plant and Under Total Total Acquisition cost Balance at end of previous year 12 374 35 906 2 462 50 742 48 993 Effect of movements in foreign exchange (208 ) (729 ) (46 ) (983 ) (1 616 ) Acquisitions 27 1 340 2 912 4 279 4 739 Acquisitions through business combinations — — — — 2 Disposals through sale and derecognition (154 ) (1 667 ) (1 ) (1 822 ) (1 301 ) Disposals through the sale of subsidiaries (1 ) (12 ) — (13 ) (51 ) Transfer (to)/from other asset categories and other movements¹ 554 2 634 (3 122 ) 66 (23 ) Balance at end of the period 12 591 37 473 2 205 52 269 50 742 Depreciation and impairment losses Balance at end of previous year (4 292 ) (21 992 ) — (26 284 ) (24 802 ) Effect of movements in foreign exchange 82 425 — 507 813 Depreciation (423 ) (3 106 ) — (3 530 ) (3 384 ) Disposals through sale and derecognition 66 1 565 — 1 631 1 168 Disposals through the sale of subsidiaries — 8 — 8 46 Impairment losses (3 ) (168 ) — (172 ) (182 ) Transfer to/(from) other asset categories and other movements 1 (14 ) (172 ) — (186 ) 57 Balance at end of the period (4 584 ) (23 440 ) — (28 024 ) (26 284 ) Carrying amount at 31 December 2021 8 082 13 915 2 462 24 459 24 459 at 31 December 2022 8 007 14 033 2 205 24 245 — As at 2022 and 2021 there were no significant restrictions on title on property, plant and equipment. Contractual commitments to purchase property, plant and equipment amounted to 538m US dollar as at 31 December 2022 compared to 449m US dollar as at 31 December 2021. AB InBev’s net capital expenditures in the statement of cash flow amounted to 4 838m US dollar in 2022 compared to 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 statement of financial position of property, plant and equipment held for sale in accordance with IFRS 5 Non-current assets held for sale and discontinued operations Financial reporting in hyperinflationary economies Property, plant and equipment leased by the company (right-of-use 2022 Million US dollar Land and Machinery, Total Net carrying amount at 31 December 1 640 786 2 426 Depreciation for the period ended 31 December (398 ) (230 ) (628 ) 2021 Million US dollar Land and Machinery, Total Net carrying amount at 31 December 1 696 523 2 219 Depreciation for the year ended 31 December (373 ) (201 ) (574 ) Additions to right-of-use assets in were m US dollar : m US dollar). Following the sale of Dutch and Belgian pub real estate to Cofinimmo in , AB InBev entered into lease agreements with a term of . Furthermore, the company leases a number of warehouses, trucks, factory facilities and other commercial buildings, which typically run for a period of five to . Lease payments are increased annually to reflect market rentals, if applicable. of the leases include contingent rentals. The compan y leases out pub real estate for an average outstanding period of to and part of its own property under operating leases. In , m US dollar was recognized as income in the income statement in respect of subleasing of right-of-use assets : m US dollar; : m US dollar). As at , the undiscounted lease payments of the non-cancelable lease payments are expected to be received as follows: m US dollar in the next months, m US dollar in the years through and m US dollar after years. The expense related to short-term and low-value leases and variable lease payments that are not included in the measurement of the lease liabilities is not significant. |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2022 | |
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Goodwill | 14. Goodwill Million US dollar 31 December 2022 31 December 2021 Acquisition cost Balance at end of previous year 118 461 123 702 Effect of movements in foreign exchange (3 147 ) (5 456 ) Disposals through the sale of subsidiaries (32 ) — Transfers (to)/from other asset categories (68 ) 18 Hyperinflation monetary adjustments 328 196 Balance at end of the period 115 541 118 461 Impairment losses Balance at end of previous year (2 665 ) (2 731 ) Effect of movements in foreign exchange 134 66 Balance at end of the period (2 531 ) (2 665 ) Carrying amount Balance at end of the period 113 010 115 796 The carrying amount of goodwill was allocated to the different cash-generating units as follows: Million US dollar 31 December 2022 31 December 2021 United States 33 578 33 607 Rest of North America 1 981 2 114 Mexico 12 823 12 062 Colombia 12 692 15 344 Rest of Middle Americas 23 242 22 769 Brazil 3 508 3 280 Rest of South America 1 249 1 173 Europe 2 081 2 244 South Africa 9 551 10 231 Rest of Africa 5 131 5 287 China 3 119 3 387 Rest of Asia Pacific 3 505 3 717 Global Export and Holding Companies 549 582 Total carrying amount of goodwill 113 010 115 796 Goodwill, which accounted for approximately 53% of AB InBev total assets as at 31 December 2022, 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. 2022 impairment testing AB InBev completed its annual impairment test for goodwill and concluded that, based on the assumptions described below, no impairment charge was warranted. The company cannot predict whether an event that triggers impairment will occur, when it will occur or how it will affect the value of the asset reported. 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 best estimates. However, inherent uncertainties exist, including the rate of recovery of the countries following the COVID-19 The company performed its annual goodwill impairment test at cash-generating unit level, which is the lowest level at which goodwill is monitored for internal management purposes. The company’s impairment testing methodology is in accordance with IAS 36 Impairment of Assets fair-value-less-cost-to-sell Key assumptions The key judgments, estimates and assumptions used in the discounted cash flow calculations were generally as follows: • Cash flows are based on AB InBev’s 1-year 10-year • Cash flows after the first 10-year • Projections are discounted at the unit’s weighted average cost of capital (WACC), considering sensitivities on this metric; • 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 6%. The WACC applied in US dollar nominal terms were as follows: Cash-generating unit 31 December 2022 31 December 2021 Colombia 8 % 6 % Rest of Middle Americas 9 % 10 % South Africa 9 % 8 % Rest of Africa 15 % 10 % Rest of Asia Pacific 7 % 6 % Sensitivity to change in key assumptions During its valuation, the company ran sensitivity analysis for key assumptions including the weighted average cost of capital and the terminal growth rate, in particular for the valuations of Colombia, South Africa and Rest of Africa cash-generating units that show the highest invested capital to EBITDA multiple. In the sensitivity analysis performed by management during the annual impairment testing in 2022, an adverse change of 1% in WACC or terminal growth rate would not cause a cash-generating unit’s carrying amount to exceed its recoverable amount. While a change in the estimates used could have a material impact on the calculation of the fair values and trigger an impairment charge, the company, based on the sensitivity analysis performed is not aware of any reasonably possible change in a key assumption used that would cause a cash generating unit’s carrying amount to exceed its recoverable amount. 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. |
Intangible assets
Intangible assets | 12 Months Ended |
Dec. 31, 2022 | |
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Intangible assets | 15. Intangible assets 31 December 2022 31 December Million US dollar Brands Commercial Software Other Total Total Acquisition cost Balance at end of previous year 38 409 2 832 3 437 337 45 015 45 885 Effect of movements in foreign exchange (568 ) (22 ) (114 ) (47 ) (751 ) (1 289 ) Acquisitions and expenditures 11 221 497 249 978 760 Disposals through sale and derecognition (93 ) (1 058 ) (272 ) (15 ) (1 437 ) (98 ) Disposals through the sale of subsidiaries — — — — — (3 ) Transfer (to)/from other asset categories and other movements¹ (19 ) 53 502 (171 ) 365 (240 ) Balance at end of period 37 741 2 026 4 050 354 44 170 45 015 Amortization and impairment losses Balance at end of previous year (89 ) (2 082 ) (2 381 ) (33 ) (4 585 ) (4 358 ) Effect of movements in foreign exchange 1 18 77 4 100 192 Amortization — (141 ) (479 ) (27 ) (647 ) (644 ) Impairment — — (3 ) (1 ) (4 ) (176 ) Disposals through sale and derecognition — 1 058 271 10 1 339 73 Disposals through the sale of subsidiaries — — — — — 3 Transfer to/(from) other asset categories and other movements 1 — (100 ) (62 ) (2 ) (164 ) 326 Balance at end of period (88 ) (1 247 ) (2 577 ) (49 ) (3 961 ) (4 585 ) Carrying value at 31 December 2021 38 320 750 1 056 304 40 430 40 430 at 31 December 2022 37 652 779 1 473 305 40 209 In 2022, the company recognized (4)m US dollar impairment on intangibles compared to (176)m US dollar in 2021 when the company recognized an impairment following the cessation of the activities of Bedford Systems, a 70%-owned subsidiary of the company and joint venture with Keurig Dr. Pepper. Please refer to Note 8 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 and are tested for impairment during the fourth quarter of the year or whenever a triggering event has occurred. 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 2022, the carrying amount of the intangible assets amounted to 40 209m US dollar (31 December 2021: 40 430m US dollar) of which 37 652m US dollar was assigned an indefinite useful life (31 December 2021: 38 320m US dollar) and 2 557m US dollar a finite life (31 December 2021: 2 110m 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 the separate presentation in the statement of financial position of intangible assets held for sale in accordance with IFRS 5 Non-current assets held for sale and discontinued operations Financial reporting in hyperinflationary economies Million US dollar Cash-generating unit 2022 2021 United States 21 979 22 129 Rest of North America 40 42 Mexico 3 166 2 977 Colombia 2 374 2 870 Rest of Middle Americas 3 531 3 432 Rest of South America 767 724 Europe 423 452 South Africa 2 847 3 029 Rest of Africa 1 072 1 112 China 405 440 Rest of Asia Pacific 1 048 1 113 Total carrying amount of intangible assets with indefinite useful lives 37 652 38 320 In 2022, the company expensed 268m US dollar in research, compared to 298m US dollar in 2021. The spend focused on product innovations, market research, as well as process optimization and product development. |
Investments in associates
Investments in associates | 12 Months Ended |
Dec. 31, 2022 | |
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: 2022 2021 Million US dollar AB InBev Castel Anadolu AB InBev Castel Anadolu Balance at 1 January 1 143 3 400 201 1 135 3 566 391 Effect of movements in foreign exchange — (172 ) (57 ) — (246 ) (159 ) Dividends received — (87 ) (14 ) — (36 ) (67 ) Share of results of associates — 152 41 7 116 35 Exceptional share of results of associates (1 143 ) — — — — — Balance at 31 December — 3 293 171 1 143 3 400 201 Summarized financial information of the company’s material associates is as follows: 2022 2021 Million US dollar Castel Anadolu AB InBev Castel Anadolu Current assets 3 399 2 973 385 3 016 1 500 Non-current 3 679 4 654 624 3 923 3 157 Current liabilities (1 803 ) (2 581 ) (693 ) (1 774 ) (1 259 ) Non-current (439 ) (1 767 ) (42 ) (499 ) (1 218 ) Non-controlling (564 ) (1 789 ) — (543 ) (1 128 ) Net assets 1 4 272 1 490 274 4 124 1 053 Revenue 4 942 4 222 1 393 5 017 3 781 Profit (loss) 767 287 1 741 275 Other comprehensive income (loss) 74 1 503 — (295 ) 241 Total comprehensive income (loss) 841 1 790 1 447 516 In 2022, the company reported a (1 143) Use of estimates and judgments Exceptional items) non-current In 2022, associates that are not individually material contributed 106m US dollar to the results of investment in associates (31 December 2021: 90m US dollar; 31 December 2020: 45m US dollar). 1 The net assets are converted at the respective closing rates of December. Following the entry of Turkey in a hyperinflation economy in 2022, the company accounted for the share of result of its Turkish associate Anadolu Efes at the December closing rate (18.718236 Turkish lira per US dollar) instead of the average rate. Additional information related to the significant associates is presented in Note 34 AB InBev Companies |
Deferred tax assets and liabili
Deferred tax assets and liabilities | 12 Months Ended |
Dec. 31, 2022 | |
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Deferred tax assets and liabilities | 17. Deferred tax assets and liabilities The amount of deferred tax assets and liabilities by type of temporary difference can be detailed as follows: 2022 2021 Million US dollar Assets Liabilities Net Assets Liabilities Net Property, plant and equipment 191 (2 071 ) (1 880 ) 91 (2 113 ) (2 023 ) Intangible assets 89 (9 582 ) (9 492 ) 60 (9 796 ) (9 736 ) Inventories 102 (90 ) 12 88 (66 ) 22 Trade and other receivables 51 — 51 48 — 48 Interest-bearing loans and borrowings 852 (657 ) 195 905 (628 ) 277 Employee benefits 433 (9 ) 423 577 (8 ) 569 Provisions 533 (56 ) 477 511 (19 ) 492 Derivatives 51 (61 ) (10 ) 11 (118 ) (107 ) Other items 532 (1 166 ) (634 ) 407 (1 198 ) (792 ) Loss carry forwards 1 341 — 1 341 1 015 — 1 015 Gross deferred tax assets/(liabilities) 4 175 (13 693 ) (9 518 ) 3 713 (13 947 ) (10 235 ) Netting by taxable entity (1 874 ) 1 874 — (1 743 ) 1 743 — Net deferred tax assets/(liabilities) 2 300 (11 817 ) (9 518 ) 1 969 (12 204 ) (10 235 ) The change in net deferred taxes recorded in the consolidated statement of financial position can be detailed as follows: Million US dollar 2022 2021 2020 Balance at 1 January (10 235 ) (10 607 ) (11 105 ) Recognized in profit or loss 701 348 32 Recognized in other comprehensive income (177 ) ( 166 ) 361 Other movements and effect of changes in foreign exchange rates 193 190 105 Balance at 31 December (9 518 ) (10 235 ) (10 607 ) 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 the temporary differences on intangible assets acquired through business combinations is unlikely to revert within 12 months as they would be realized upon impairment or disposal of these intangibles which is currently not expected. The net deferred tax liabilities attributable to the US business and mainly related to purchase price accounting amount to billion US dollar as of 31 December 2022. As of 31 December 2022, deferred taxes of 11.0 billion US dollar (31 December 2021: 6.9 billion US dollar) were not recognized on a series of tax attributes. The tax attributes for which no deferred tax asset was recognized amount t o billion US dollar compared to billion US dollar as of 31 December 2021 and include tax losses carry forward either confirmed or resulting from tax positions under dispute, capital losses, foreign and withholding tax credits, excess dividend received deduction, excess interest carry forward, amongst others . billion US dollar of these tax attributes do not have an expiration date, billion US dollar, billion US dollar and billion US dollar expire within respectively 1 , 2 and 3 years , while billion US dollar have an expiration date of more than 3 years. Deferred tax assets have not been recognized on these items because these are either contingent assets or 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, 2022 | |
Text block [abstract] | |
Inventories | 18. Inventories Million US dollar 31 December 2022 31 December 2021 Prepayments 87 115 Raw materials and consumables 3 851 3 072 Work in progress 529 451 Finished goods 1 837 1 537 Goods purchased for resale 308 224 Inventories 6 612 5 399 Inventories other than work in progress Inventories stated at net realizable value 395 368 The cost of inventories recognized as an expense in 2022 amounts to m US dollar, included in cost of sales (2021: m US dollar: 2020; m US dollar). Impairment losses on inventories recognized in 2022 amount to m US dollar (2021: m US dollar; 2020: m US dollar). |
Trade and other receivables
Trade and other receivables | 12 Months Ended |
Dec. 31, 2022 | |
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Trade and other receivables | 19. Trade and other receivables Million US dollar 31 December 2022 31 December 2021 Cash deposits for guarantees 189 168 Loans to customers 10 17 Tax receivable, other than income tax 137 116 Brazilian tax credits and interest receivables 1 149 960 Trade and other receivables 298 319 Non-current 1 782 1 580 Trade receivables and accrued income 3 637 3 465 Interest receivables 67 18 Tax receivable, other than income tax 444 593 Loans to customers 71 99 Prepaid expenses 410 350 Other receivables 702 521 Current trade and other receivables 5 330 5 046 Ambev’s tax credits and interest receivables are expected to be collected over a period exceeding 12 months after the reporting date. As of 31 December 2022, the total amount of such credits and interest receivables represented 1 149m US dollar (31 December 2021: 960m US dollar). Refer to Note 11 Finance cost and income 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 30 Between 60 More than 90 Trade receivables and accrued income 3 637 3 418 151 41 24 4 Loans to customers 81 78 1 1 1 — Interest receivable 67 67 — — — — Other receivables 702 684 11 4 3 — 4 487 4 247 162 46 28 4 Net carrying Of which: Of which not impaired as of the reporting date and past due Less than 30 Between 30 Between 60 More than 90 Trade receivables and accrued income 3 465 3 223 164 62 11 5 Loans to customers 117 83 2 2 31 — Interest receivable 18 18 — — — — Other receivables 521 513 2 1 2 3 4 120 3 836 167 65 44 8 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 27 Risks arising from financial instruments |
Cash and cash equivalents and i
Cash and cash equivalents and investment securities | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Cash and cash equivalents and investment securities | 20. Cash and cash equivalents and investment securities Million US dollar 31 December 2022 31 December 2021 Short-term bank deposits 4 685 6 542 Cash and bank accounts 5 288 4 505 Treasury Bills — 1 050 Cash and cash equivalents 9 973 12 097 Bank overdrafts (83 ) (53 ) Cash and cash equivalents in the statement of cash flows 9 890 12 043 The company’s investment in Treasury Bills as at 31 December 2021 was to facilitate liquidity and for capital preservation. The cash outstanding as at 31 December 2022 includes restricted cash for an amount of 73m US dollar (31 December 2021: 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 (72m US dollar). Investment securities Million US dollar 31 December 2022 31 December 2021 Investment in unquoted companies 149 139 Investment on debt securities 26 22 Non-current 175 161 Investment on debt securities 97 374 Current investments 97 374 As at 31 December 2022, current debt securities of 97m US dollar mainly represented investments in government bonds (31 December 2021: 374m US dollar). The company’s investments in such short-term debt securities are primarily to facilitate liquidity and for capital preservation. |
Changes in equity and earnings
Changes in equity and earnings per share | 12 Months Ended |
Dec. 31, 2022 | |
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Changes in equity and earnings per share | 21. Changes in equity and earnings per share STATEMENT OF CAPITAL The tables below summarize the changes in issued capital and treasury shares during 2022: 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 1 737 Restricted shares 282 Treasury shares Result on the use of Treasury shares Million shares Million US dollar Million US dollar At the end of the previous year 38.2 (3 994 ) (4 366 ) Changes during the period (2.8 ) 289 (193 ) At the end of the current period 35.5 (3 706 ) (4 559 ) As at 31 December 2022, 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 35 455 836 are held in treasury by AB InBev and its subsidiaries. All shares are ordinary shares, except for 282 050 690 restricted shares (31 December 2021: 282 107 042). As at 31 December 2022, the total of authorized, unissued capital amounts to 37 million 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. As from 11 October 2021 (fifth anniversary of completion of the SAB combination), the restricted shares are 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 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 B-BBEE 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 22,6 5.1 B-BBEE 1 exceptional items CHANGES IN OWNERSHIP INTERESTS In accordance with IFRS 10 Consolidated Financial Statements , the acquisition or disposal of additional shares in a subsidiary is accounted for as an equity transaction with owners. During 2022 and 2021, there were no significant purchases or disposals of non-controlling interests in subsidiaries. On 31 December 2020, AB InBev completed the issuance of a % minority stake in its US-based metal container operations to Apollo Global Management, Inc. for net proceeds of billion USD. This transaction allowed the company to create additional shareholder value by optimizing its business at an attractive price and generate proceeds to repay debt, in line with its deleveraging commitments. AB InBev retained operational control of its US-based metal container operations. The transaction was reported in the equity statement resulting in recognition of billion US dollar in Non-controlling interest and billion US dollar in Reserves. 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 2022, 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 As at 31 December 2022, the group owned own shares of which were held directly by AB InBev. The par value of the share is euro. The treasury shares that the company still owned at the end of 2022 represented US dollar ( euro) of the subscribed capital. Borrowed shares In order to fulfill AB InBev’s commitments under various outstanding share-based compensation plans, during the course of 2022, the company had stock lending arrangements in place for up to million shares, which were fully used to fulfill share-based compensation plan commitments. The company will pay any dividend equivalent after tax in respect of such borrowed shares. This payment will be reported through equity as dividend. DIVIDENDS O n , a dividend of euro per share or m euro was proposed by the Board of Directors and will be subject to approval at the shareholders’ meeting on . O n , a dividend of euro per share or m euro was approved at the shareholders’ meeting. The dividend was paid out as of . O n , a dividend of euro per share or m euro was approved at the shareholders’ meeting. The dividend was paid out as of . 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. TRANSFERS FROM SUBSIDIARIES Dividends payable to AB InBev by its operating subsidiaries are subject to, among other restrictions, general limitations imposed by the corporate laws, capital transfer restrictions and exchange control restrictions of the respective jurisdictions 1 Considering the closing share price of 62.26 euro per share as at 24 May 2021 and ZAR per Euro exchange rate of 17.0064 as at 24 May 2021. 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 2022, 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%. OTHER COMPREHENSIVE INCOME RESERVES The changes in the other comprehensive income reserves are as follows: Million US dollar Translation Hedging Post- Total OCI As per 1 January 2022 (33 554 ) 481 (1 504 ) (34 577 ) Other comprehensive income/(loss) Exchange differences on translation of foreign operations (gains/(losses)) (1 123 ) — — (1 123 ) Cash flow hedges — (336 ) — (336 ) Re-measurements — — 483 483 Other comprehensive income/(loss) (1 123 ) (336 ) 483 (976 ) As per 31 December 2022 (34 677 ) 145 (1 021 ) (35 553 ) The increase in translation reserves is primarily related to the combined effect of the weakening of the closing rates of the Argentinean peso, the Chinese yuan, the Colombian peso and the South Africa rand, partially offset by the weakening of the closing rate of the Euro, which resulted in a net foreign exchange translation adjustment o f 1 123m US dollar as of 31 December 2022 (decrease of equity). Million US dollar Translation Hedging Post- Total OCI As per 1 January 2021 (29 234 ) 376 (1 983 ) (30 841 ) Other comprehensive income/(loss) Exchange differences on translation of foreign operations (gains/(losses)) (4 320 ) — — (4 320 ) Cash flow hedges — 105 — 105 Re-measurements — — 479 479 Other comprehensive income/(loss) (4 320 ) 105 479 (3 736 ) As per 31 December 2021 (33 554 ) 481 (1 504 ) (34 577 ) Million US dollar Translation Hedging Post- 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 645 (21 ) — 624 Re-measurements — — (243 ) (243 ) Other comprehensive income/(loss) (9 298 ) (21 ) (243 ) (9 562 ) As per 31 December 2020 (29 234 ) 376 (1 983 ) (30 841 ) EARNINGS PER SHARE The calculation of basic earnings per share for 2022 is based on the profit attributable to equity holders of AB InBev of Million shares 2022 2021 2020 Issued ordinary and restricted shares at 1 January, net of treasury shares 1 981 1 972 1 959 Effect of stock lending 30 30 30 Effect of delivery of treasury shares 2 4 9 Weighted average number of ordinary and restricted shares at 31 December 2 013 2 007 1 998 The calculation of diluted earnings per share for 2022 is based on the profit attributable to equity holders of AB InBev of Million shares 2022 2021 2020 Weighted average number of ordinary and restricted shares at 31 December 2 013 2 007 1 998 Effect of share options, warrants and restricted stock units 37 38 39 Weighted average number of ordinary and restricted shares (diluted) at 31 December 2 050 2 045 2 037 The calculation of earnings per share before exceptional items is based on the profit before exceptional items, attributable to equity holders of AB InBev. The calculation of the Underlying EPS is based on the profit before exceptional items, mark-to-market Million US dollar 2022 2021¹ 2020¹ Profit attributable to equity holders of AB InBev 5 969 4 670 1 405 Net impact of exceptional items on profit (refer to Note 8) 484 1 054 4 458 Profit from discontinued operations — — (2 055 ) Profit before exceptional items, attributable to equity holders of AB InBev 6 454 5 723 3 807 Mark-to-market (331 ) 23 1 211 Hyperinflation impacts (30 ) 28 4 Underlying profit 6 093 5 774 5 022 The table below sets out the EPS calculation: Million US dollar 2022 2021 2020 Profit attributable to equity holders of AB InBev 5 969 4 670 1 405 Weighted average number of ordinary and restricted shares 2 013 2 007 1 998 Basic EPS from continuing and discontinued operations 2.97 2.33 0.70 Profit/(loss) from continuing operations attributable to equity holders of AB InBev 5 969 4 670 (650 ) Weighted average number of ordinary and restricted shares 2 013 2 007 1 998 Basic EPS from continuing operations 2.97 2.33 (0.33 ) Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev 6 454 5 723 3 807 Weighted average number of ordinary and restricted shares 2 013 2 007 1 998 Basic EPS from continuing operations before exceptional items 3.21 2.85 1.91 Underlying profit 6 093 5 774 5 022 Weighted average number of ordinary and restricted shares 2 013 2 007 1 998 Underlying EPS 3.03 2.88 2.51 Profit attributable to equity holders of AB InBev 5 969 4 670 1 405 Weighted average number of ordinary and restricted shares (diluted) 2 050 2 045 2 037 Diluted EPS from continuing and discontinued operations 2.91 2.28 0.69 Profit/(loss) from continuing operations attributable to equity holders of AB InBev 5 969 4 670 (650 ) Weighted average number of ordinary and restricted shares (diluted) 2 050 2 045 1 998 Diluted EPS from continuing operations 2.91 2.28 (0.33 ) Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev 6 454 5 723 3 807 Weighted average number of ordinary and restricted shares (diluted) 2 050 2 045 2 037 Diluted EPS from continuing operations before exceptional items 3.15 2.80 1.87 Earnings per share excluding exceptional items and discontinued operations and Underlying EPS are non-IFRS 1 Amended to conform to 2022 presentation. 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 before exceptional items, 51 million share options were anti-dilutive and not included in the calculation of the dilutive effect as at 31 December 2022 (31 December 2021: 68 million share options; 31 December 2020: 76m share options). 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, 2022 | |
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Interest-bearing loans and borrowings | 22. 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 27 Risks arising from financial instruments. Million US dollar 31 December 2022 31 December 2021 Unsecured bond issues 76 798 85 433 Lease liabilities 1 963 1 830 Unsecured other loans 95 31 Secured bank loans 24 75 Non-current 78 880 87 369 Lease liabilities 529 447 Secured bank loans 369 553 Unsecured bank loans 100 106 Unsecured other loans 30 9 Unsecured bond issues — 293 Current interest-bearing loans and borrowings 1 029 1 408 Interest-bearing loans and borrowings 79 909 88 777 The current and non-current As at 31 December 2022, the company had no outstanding balance on commercial papers (31 December 2021: nil). The commercial papers 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 10 January 2022, Anheuser-Busch InBev SA/NV (“ABISA”) announced that its wholly-owned subsidiary Anheuser- Busch InBev Finance Inc. (“ABIFI”) exercised its option 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 Title of series of notes redeemed Currency Original principal (in million) Principal amount (in million) 9 February 2022 ABIFI 3.650% Notes due 2026 USD 1 633 1 633 1 March 2022 ABIFI 4.915% Notes due 2046 USD 1 470 1 470 On 2 December 2022, the company completed the tender offers of twelve series of USD notes and two series of GBP notes for up to 3.5 billion US dollar aggregate purchase price. The company accepted the tender offers of eight series of notes issued by Anheuser-Busch InBev SA/NV (“ABISA”), Anheuser-Busch InBev Worldwide (“ABIWW”) and Anheuser-Busch InBev Finance Inc. (“ABIFI”) and repurchased 3.9 billion US dollar aggregate principal amount of these notes. The total principal amount repurchased in the tender offers is set out in the table below: Date of redemption Issuer Title of series of notes partially repurchased Currency Original principal (in million) Principal amount (in million) Principal 2 December 2022 ABISA 2.850% GBP 900 489 411 2 December 2022 ABISA 2.250% Notes due 2029 GBP 700 363 337 2 December 2022 ABIFI 4.000% Notes due 2043 USD 750 346 404 2 December 2022 ABIWW 3.750% Notes due 2042 USD 1 000 529 471 2 December 2022 ABIWW 4.600% Notes due 2060 USD 1 000 503 497 2 December 2022 ABIWW 4.500% Notes due 2050 USD 2 250 683 1 567 2 December 2022 ABIWW 4.750% Notes due 2058 USD 1 500 519 981 2 December 2022 ABIWW 4.600% Notes due 2048 USD 2 500 321 2 179 These tender offers were financed with cash. Net debt is defined as non-current AB InBev’s net debt decreased to 69.7 billion US dollar as at 31 December 2022, from 76.2 billion US dollar as at 31 December 2021. Aside from operating results that are net of capital expenditures, the net debt is impacted mainly by the payment of interests and taxes (6.1 billion US dollar), dividend payments to shareholders of AB InBev and Ambev (2.4 billion US dollar) and foreign exchange impact on net debt (1.5 billion US dollar decrease 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 2022 31 December 2021 Non-current 78 880 87 369 Current interest-bearing loans and borrowings 1 029 1 408 Interest-bearing loans and borrowings 79 909 88 777 Bank overdrafts 83 53 Cash and cash equivalents (9 973 ) (12 097 ) Interest bearing loans granted and other deposits (included within Trade and other receivables) (183 ) (175 ) Debt securities (included within Investment securities) (123 ) (396 ) Net debt 69 713 76 162 Reconciliation of liabilities arising from financing activities The table below details the changes in the company’s liabilities arising from financing activities, including both cash and non-cash Million US dollar Long-term debt, net of Short-term debt and current portion of long-term debt Balance at 1 January 2022 87 369 1 408 Proceeds from borrowings 74 17 Payments on borrowings (6 698 ) (567 ) Capitalization / (payment) of lease liabilities 794 (519 ) Amortized cost 63 — Unrealized foreign exchange effects (1 776 ) (6 ) Current portion of long-term debt (617 ) 617 (Gain)/Loss on bond redemption and other movements (329 ) 79 Balance at 31 December 2022 78 880 1 029 Million US dollar Long-term debt, net of Short-term debt and current portion of long-term debt Balance at 1 January 2021 95 478 3 081 Proceeds from borrowings 148 306 Payments on borrowings (6 735 ) (2 230 ) Capitalization / (payment) of lease liabilities 697 (547 ) Amortized cost 64 — Unrealized foreign exchange effects (2 149 ) (88 ) Current portion of long-term debt (875 ) 875 (Gain)/Loss on bond redemption and other movements 741 10 Balance at 31 December 2021 87 369 1 408 Million US dollar Long-term debt, net of Short-term debt and current portion of long-term debt 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 (Gain)/Loss on bond redemption and other movements 1 042 77 Balance at 31 December 2020 95 478 3 081 |
Pension and similar obligations
Pension and similar obligations | 12 Months Ended |
Dec. 31, 2022 | |
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Pension and similar obligations | 23. Pension and similar obligations 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 2022, contributions paid into defined contribution plans for the company amounted to 164m US dollar compared to 147m US dollar for 2021 and 91m US dollar for 2020. DEFINED BENEFIT PLANS During 2022, the company contributed to 86 defined benefit plans, of which 64 are retirement or leaving service plans, 17 are medical cost plans and 5 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 Barbados, 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 115m 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 2022, 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 statement of financial position is nil. The employee benefit net liability amounts to 1 523m US dollar as at 31 December 2022 compared to 2 256m US dollar as at 31 December 2021. In 2022, the fair value of the plan assets decreased by 1 574m US dollar and the defined benefit obligations decreased by 2 287m US dollar. The decrease in the employee benefit net liability is mainly driven by increases in the discount rates partially offset by unfavorable asset returns. The company’s net liability for post-employment and long-term employee benefit plans comprises the following as at 31 December 2022 and 2021: Million US dollar 2022 2021 Present value of funded obligations (4 604 ) (6 791 ) Fair value of plan assets 3 807 5 381 Present value of net obligations for funded plans (797 ) (1 410 ) Present value of unfunded obligations (587 ) (687 ) Present value of net obligations (1 384 ) (2 097 ) Unrecognized asset (43 ) (32 ) Net liability (1 427 ) (2 129 ) Other long term employee benefits (96 ) (127 ) Total employee benefits (1 523 ) (2 256 ) Employee benefits amounts in the statement of financial position: Liabilities (1 534 ) (2 261 ) Assets 11 5 Net liability (1 523 ) (2 256 ) The changes in the present value of the defined benefit obligations are as follows: Million US dollar 2022 2021 2020 Defined benefit obligation at 1 January (7 478 ) (8 496 ) (8 143 ) Current service costs (69 ) (80 ) (72 ) Interest cost (229 ) (212 ) (250 ) Past service gain/(cost) — (5 ) 16 Settlement s 114 176 153 Benefits paid 549 553 519 Contribution by plan participants (2 ) (3 ) (2 ) Actuarial gains/(losses) – demographic assumptions (2 ) (41 ) 20 Actuarial gains/(losses) – financial assumptions 1 854 460 (690 ) Experience adjustments (116 ) 16 (12 ) Exchange differences 243 154 (35 ) Transfers and other movements (55 ) — — Defined benefit obligation at 31 December (5 191 ) (7 478 ) (8 496 ) As at the last valuation date, the present value of the defined benefit obligation was comprised of approximately 1.1 billion US dollar relating to active employees, 0.9 billion US dollar relating to deferred members and 3.2 billion US dollar relating to members in retirement. The changes in the fair value of plan assets are as follows: Million US dollar 2022 2021 2020 Fair value of plan assets at 1 January 5 381 5 649 5 442 Interest income 157 137 168 Administration costs (17 ) (19 ) (19 ) Return on plan assets exceeding interest income (1 084 ) 197 332 Contributions by AB InBev 220 241 394 Contributions by plan participants 2 3 2 Benefits paid net of administration costs (551 ) (553 ) (519 ) Assets distributed on settlements (112 ) (172 ) (146 ) Exchange differences (188 ) (102 ) (9 ) Transfers and other movements (2 ) — 4 Fair value of plan assets at 31 December 3 807 5 381 5 649 Actual return on plans assets amounted to a loss of (927)m US dollar in 2022 compared to a gain of 334m US dollar in 2021. The changes in the unrecognized asset are as follows: Million US dollar 2022 2021 2020 Irrecoverable surplus impact at 1 January (32 ) (31 ) (74 ) Interest expense (3 ) (2 ) (4 ) Changes excluding amounts included in interest expense (8 ) 1 47 Irrecoverable surplus impact at 31 December (43 ) (32 ) (31 ) The expense recognized in the income statement with regards to defined benefit plans can be detailed as follows: Million US dollar 2022 2021 2020 Current service costs (66 ) (80 ) (72 ) Administration costs (17 ) (19 ) (19 ) Past service cost due to plan amendments, curtailments or settlements 2 (2 ) 16 (Losses)/gains due to experience and demographic assumption changes — 1 6 Profit from operations (81 ) (100 ) (69 ) Net finance cost (73 ) (76 ) (87 ) Total employee benefit expense (154 ) (176 ) (156 ) The employee benefit expense is included in the following line items of the income statement: Million US dollar 2022 2021 2020 Cost of sales (25 ) (30 ) (28 ) Distribution expenses (11 ) (11 ) (9 ) Sales and marketing expenses (17 ) (24 ) (18 ) Administrative expenses (28 ) (34 ) (20 ) Other operating (expense)/income — (1 ) (1 ) Exceptional items — — 7 Net finance cost (73 ) (76 ) (87 ) Total employee benefit expense (154 ) (176 ) (156 ) Weighted average assumptions used in computing the benefit obligations of the company’s significant plans at the reporting date are as follows: 2022 United Canada Mexico Brazil United AB InBev Discount rate 5.5 % 5.1 % 9.5 % 10.0 % 4.9 % 5.9 % Price inflation 2.5 % 2.0 % 3.5 % 3.5 % 3.2 % 2.7 % Future salary increases — 1.0 % 4.5%-4.0 % 7.1%-5.3 % — 4.0 % Future pension increases — 2.0 % 3.5 % 3.5 % 3.0 % 2.7 % Medical cost trend rate 7.0%-4.5 % 4.5 % — 7.1 % — 6.8%-6.1 % Life expectation for a 65-year 86 87 85 85 87 85 Life expectation for a 65-year 88 90 88 87 89 88 2021 United Canada Mexico Brazil United AB InBev Discount rate 2.8 % 2.9 % 8.0 % 8.7 % 1.9 % 3.2 % Price inflation 2.5 % 2.0 % 3.5 % 3.3 % 3.6 % 2.7 % Future salary increases — 1.0 % 4.5%-4.0 % 6.9%-5.0 % — 3.7 % Future pension increases — 2.0 % 3.5 % 3.3 % 3.2 % 2.7 % Medical cost trend rate 5.3%-4.5 % 4.5 % — 6.9 % — 5.9%-5.7 % Life expectation for a 65-year 86 87 85 85 87 85 Life expectation for a 65-year 88 90 88 87 89 88 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, bonds and real estate, 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 An increase in bond yields will decrease plan liabilities, although this will be partially offset by a decrease 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 2022 is 11.4 years (2021: 13.7 years). An increase in bond yields reduces the average duration. The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is: 2022 Million US dollar Change in Increase in Decrease in Discount rate 0.5 % (271 ) 295 Price inflation 0.5 % 94 (101 ) Future salary increases 0.5 % 20 (19 ) Medical cost trend rate 1 % 25 (22 ) Mortality One year 147 (149 ) 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: 2022 2021 Million US dollar Quoted Unquoted Total Quoted Unquoted Total Government bonds 34 % — 34 % 34 % — 34 % Corporate bonds 30 % — 30 % 34 % — 34 % Equity instruments 24 % — 24 % 24 % — 24 % Property — 7 % 7 % — 4 % 4 % Insurance contracts and others 4 % 1 % 5 % 2 % 2 % 4 % 91 % 8 % 100 % 94 % 6 % 100 % AB InBev expects to contribute approximately 182m US dollar for its funded defined benefit plans and 69m US dollar in benefit payments to its unfunded defined benefit plans and post-retirement medical plans in 2023. |
Share-based payments
Share-based payments | 12 Months Ended |
Dec. 31, 2022 | |
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Share-based payments | 24. Share-based payments Different share-based 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 various 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 All the company share-based payment plans are equity-settled. Amounts have been converted to US dollar at the average rate of the period, unless otherwise indicated. Share-based payment transactions resulted in a total expense of 448m US dollar for 2022, as compared to 510m US dollar for 2021, which included an amount of 72m US dollar that was reported in exceptional items representing the IFRS 2 cost related to the Zenzele Kabili scheme. For more details, refer to Note 21 Changes in equity and earnings per share US dollar. The company reversed accrued cost for performance-related LTIs for which the conditions would not be met as a result of the COVID-19 pandemic. AB INBEV SHARE-BASED COMPENSATION PROGRAMS Share-Based Compensation Plan for Executives 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, referred to as voluntary shares. The voluntary shares are entitled to dividends from the date of grant and are subject to a lock-up 3-year During 2022, AB InBev issued 4.8m discounted and matching RSUs in relation to bonuses granted to company employees and management (2021: 0.2m discounted and matching RSUs). These discounted and matching RSUs represent a fair value of approximately 293m US dollar (2021: 9m US dollar). Restricted Stock Units Plan for Directors The share-based portion of the remuneration of the directors of the company is granted in the form of RSUs that vest after 5 years and, upon vesting, entitle their holders to one AB InBev share per RSU. During 2022, 0.1m RSUs with an estimated fair value of 4m US dollar were granted to directors (2021: 0.1m with an estimated fair value of 4m US dollar). Annual LTI Plans for Executives Subject to management’s assessment of the executive’s • Long-term Incentive RSUs • Long-term PSUs • Long-term Incentive stock options Exceptional LTI Plans for Executives RSUs, PSUs or stock options may be granted from time to time to m e During 2022 and 2021, no exceptional grants were made to Executives. Other Recurring LTI RSU Plans for Executives AB InBev has specific recurring long-term RSU incentive programs in place, including: • A base long-term RSUs program sub-plans three sub-plans • 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 People bet share purchase program 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. During 2022, no performance units were granted to senior management of ZX Ventures (2021: 1m 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 disclosures for Share-based payments No stock options were granted in 2022 and 2021. The total number of outstanding AB InBev options developed as follows: Million options 2022 2021 2020 Options outstanding at 1 January 102.7 113.3 88.7 Options issued during the year — — 38.1 Options exercised during the year (1.0 ) (1.3 ) (3.9 ) Options forfeited during the year (14.9 ) (9.2 ) (9.0 ) Options lapsed during the year (3.6 ) — — Options outstanding at the end of December 83.2 102.7 113.3 The range of exercise prices of the outstanding options is between 10.32 euro (11.01 US dollar) 1 6.4 Out of the 83.2m outstanding options, 23.7m options are vested at 31 December 2022. The weighted average exercise price of the AB InBev options is as follows: Amounts in US dollar 2022 2021 2020 Options outstanding at 1 January 64.77 71.22 79.66 Granted during the year — — 53.41 Exercised during the year 16.11 46.30 29.92 Forfeited during the year 94.76 89.56 117.82 Lapsed during the year 88.10 — — Outstanding at the end of December 76.04 64.77 71.22 Exercisable at the end of December 102.19 98.27 99.54 For share options exercised during 2022, the weighted average share price at the date of exercise was euro ( US dollar)¹. 1 Amounts have been converted to US dollar at the closing rate of the respective period. The total number of outstanding AB InBev RSUs developed as follows: Million RSUs 2022 2021 2020 RSUs outstanding at 1 January 20.9 19.1 9.9 RSUs issued during the year 9.6 3.9 10.9 RSUs vested during the year (0.5 ) (1.1 ) (0.7 ) RSUs forfeited during the year (1.8 ) (1.1 ) (0.9 ) RSUs outstanding at the end of December 28.2 20.9 19.1 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 44 thousand matching RSUs in 2022 with an estimated fair value of less than 1m US dollar (2021: 0.1m matching RSUs with an estimated fair value of less than 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 2018 Share-based compensation plan, Ambev issued 49.3m matching RSUs in 2022 with an estimated fair value of 148m US dollar (2021: 20.6m matching RSUs with an estimated fair value of 61m 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. No stock options were granted in 2022 and 2021. The total number of outstanding Ambev options developed as follows: Million options 2022 2021 2020 Options outstanding at 1 January 113.8 127.3 141.8 Options issued during the year — — — Options exercised during the year — (5.2 ) (5.7 ) Options forfeited during the year (14.0 ) (8.3 ) (8.8 ) Options outstanding at the end of December 99.8 113.8 127.3 The range of exercise prices of the outstanding options is between 15.95 Brazilian real (3.06 US dollar) and 39.04 Brazilian real (7.48 US dollar) while the weighted average remaining contractual life is 4.3 years. Of the 99.7m outstanding options 63.9m options are vested at 31 December 2022. The weighted average exercise price of the Ambev options is as follows: Amounts in US dollar 2022 2021 2020 Options outstanding at 1 January 3.57 3.81 4.60 Granted during the year — — 3.47 Exercised during the year — 2.36 1.60 Forfeited during the year 4.33 4.53 4.42 Outstanding at the end of December 3.72 3.57 3.81 Exercisable at the end of December 3.86 3.79 4.56 The total number of outstanding Ambev RSUs developed as follows: Million RSUs 2022 2021 2020 RSUs outstanding at 1 January 63.8 49.6 31.7 RSUs issued during the year 49.3 20.7 21.3 RSUs vested during the year (0.2 ) (5.0 ) (1.9 ) RSUs forfeited during the year (3.1 ) (1.5 ) (1.5 ) RSUs outstanding at the end of December 109.8 63.8 49.6 During 2022, 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 54 thousand AB InBev shares (2021: 3 thousand 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 1m US dollar (2021: less than 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 Discretionary Restricted Stock Units Plan In December 2019, Budweiser APAC set up a discretionary RSUs plan which allows for the offer of RSUs to certain employees in certain specific circumstances, at the discretion of the Board, e.g., as a special retention incentive. The RSUs 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 2022 and 2021, no RSUs were granted under this program. Share-Based Compensation Plan In March , 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. In , Budweiser APAC issued m matching RSUs in relation to bonuses granted to Budweiser APAC employees with an estimated fair value of m US dollar : m matching restricted stock units with an estimated fair value of less than m US dollar). New Restricted Stock Units Plan In November 2020, Budweiser APAC set up a new RSUs plan which allows for the offer of RSUs 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 RSUs is in principle between three and 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 2022, 14.1m RSUs with an estimated fair value of 45m US dollar were granted under this program to a selected number of employees (2021: 10m RSUs with an estimated fair value of 26m US dollar). 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 |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Provisions | 25. Provisions Million US dollar Restructuring Disputes Other Total Balance at 1 January 2022 80 420 106 605 Effect of movements in foreign exchange (5 ) (11 ) (2 ) (18 ) Provisions made 37 157 32 226 Provisions used (37 ) (109 ) — (147 ) Provisions reversed — (21 ) — (22 ) Other movements (23 ) 1 (50 ) (73 ) Balance at 31 December 2022 51 436 85 572 Million US dollar Restructuring Disputes Other Total Balance at 1 January 2021 104 489 170 763 Effect of movements in foreign exchange (2 ) (20 ) (4 ) (25 ) Provisions made 63 132 9 203 Provisions used (73 ) (129 ) (11 ) (213 ) Provisions reversed (13 ) (35 ) (1 ) (48 ) Other movements 1 (18 ) (58 ) (75 ) Balance at 31 December 2021 80 420 106 605 The restructuring provisions are primarily explained by the organizational alignments - see also Note 8 Exceptional items The provisions are expected to be settled within the following time windows: Million US dollar Due within one year Due after one year Total Restructuring 33 18 51 Indirect taxes 10 82 93 Labor 30 105 136 Commercial 12 54 66 Excise duties 2 21 23 Other disputes 26 92 118 Disputes 81 355 436 Other provisions 63 22 85 Total provisions 176 396 572 |
Trade and other payables
Trade and other payables | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Trade and other payables | 26. Trade and other payables Million US dollar 31 December 2022 31 December 2021 Indirect taxes payable 174 194 Trade payables 176 51 Deferred consideration on acquisitions 464 662 Other payables 46 100 Non-current 859 1 008 Trade payables and accrued expenses 18 589 17 810 Payroll and social security payables 1 520 1 716 Indirect taxes payable 2 768 2 457 Interest payable 1 428 1 501 Consigned packaging 1 012 1 050 Dividends payable 356 355 Deferred consideration on acquisitions 313 191 Other payables and deferred income 362 353 Current trade and other payables 26 349 25 434 The company has entered into reverse factoring arrangements with suppliers in the amount of 134m Us dollar as at 31 December 2022, mostly due to legal requirements. The nature, as well as the terms and conditions of the liabilities that are part of these arrangements do not differ from those of the company’s normal trade payables. As a result, these are presented as part of Trade and other payables in accordance with IAS 1 Presentation of financial statements As at 31 December 2022, deferred consideration on acquisitions is mainly comprised of 0.6 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 2021: 0.6 billion US dollar). The terms of the shareholders’ agreement were amended as described in Note 27 Risk arising from financial instruments |
Risks arising from financial in
Risks arising from financial instruments | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Risks arising from financial instruments | 27. Risks arising from financial instruments A) FINANCIAL ASSETS AND LIABILITIES Set out below is an overview of financial assets and liabilities held by the company as at the dates indicated: 31 December 2022 31 December 2021¹ At fair At fair value At fair value At fair At through value At through value amortized profit or through amortized profit or through Million US dollar cost loss OCI Total cost loss OCI Total Cash and cash equivalents 9 973 — — 9 973 12 097 — — 12 097 Trade and other receivables 4 973 — — 4 973 4 607 — — 4 607 Investment securities 25 97 149 272 22 374 139 535 Interest rate swaps — — — — — 37 — 37 Cross currency interest rate swaps — — 63 63 — 52 60 112 Foreign exchange forwards — 41 182 223 — 82 156 238 Foreign currency futures — — 4 4 — — — — Commodities — — 101 101 — — 282 282 Financial assets 14 971 139 498 15 608 16 726 546 637 17 908 Non-current 522 15 193 730 526 25 162 712 Current 14 450 124 305 14 878 16 200 521 475 17 196 Trade and other payables 21 983 762 — 22 746 21 242 832 — 22 074 Non-current 78 880 — — 78 880 87 369 — — 87 369 Current interest-bearing loans and borrowings 1 029 — — 1 029 1 408 — — 1 408 Bank overdrafts 83 — — 83 53 — — 53 Equity swaps — 4 763 — 4 763 — 5 412 — 5 412 Cross currency interest rate swaps — 16 171 187 — 174 95 270 Foreign exchange forwards — 20 245 265 — 24 105 129 Foreign currency futures — — — — — — 37 37 Commodities — — 271 271 — — 35 35 Interest rate swaps — 3 2 5 — — 3 3 Financial liabilities 101 975 5 565 689 108 229 110 073 6 443 275 116 790 Non-current 79 108 473 168 79 749 87 531 678 73 88 282 Current 22 867 5 092 521 28 480 22 541 5 764 202 28 508 1 Amended to conform to 2022 presentation. B) 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 exchange forwards, currency futures, interest rate swaps, cross currency interest rate swaps (“CCIRS”), commodity swaps, 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 2022 31 December 2021 < 1 1-2 2-3 3-5 > 5 < 1 1-2 2-3 3-5 > 5 Million US dollar year years years years years year years years years years Foreign currency Foreign exchange forwards 11 445 479 — — — 12 599 29 — — — Foreign currency futures 503 — — — — 1 617 — — — — Interest rate Interest rate swaps 1 000 — — — — 1 500 1 000 — — — Cross currency interest rate swaps 900 1 923 1 834 2 608 560 4 614 1 400 1 173 1 573 1 453 Commodities Aluminum swaps 2 161 4 — — — 1 241 — — — — Other commodity derivatives 1 160 22 — — — 1 034 — — — — Equity Equity derivatives 10 800 — — — — 11 469 — — — — C) 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 exchange forwards, currency futures and cross currency interest rate swaps. 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 sales 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 2022 31 December 2021 Total Total Open Total Total Open Million US dollar exposure hedges position exposure hedges position Euro/Mexican peso (108 ) 100 (8 ) (112 ) 111 (1 ) Euro/Pound sterling (136 ) 112 (24 ) (124 ) 112 (12 ) Euro/South African rand (67 ) 31 (37 ) (79 ) 75 (4 ) Euro/US dollar (38 ) 58 20 (123 ) 100 (23 ) Mexican peso/Euro (269 ) 268 (2 ) (254 ) 231 (23 ) US dollar/Argentinian peso (702 ) 206 (496 ) (661 ) 674 13 US dollar/Bolivian boliviano (74 ) 76 1 (80 ) 75 (5 ) US dollar/Brazilian real (1 955 ) 1 789 (166 ) (1 846 ) 1 618 (228 ) US dollar/Canadian dollar (310 ) 249 (61 ) (304 ) 253 (51 ) US dollar/Chilean peso (135 ) 129 (6 ) (171 ) 162 (9 ) US dollar/Chinese yuan (125 ) 113 (12 ) (123 ) 116 (7 ) US dollar/Colombian peso (615 ) 559 (56 ) (476 ) 434 (42 ) US dollar/Euro (134 ) 111 (23 ) (103 ) 96 (7 ) US dollar/Mexican peso (1 442 ) 1 436 (6 ) (1 236 ) 1 168 (68 ) US dollar/Paraguayan guarani (144 ) 135 (8 ) (153 ) 139 (14 ) US dollar/Peruvian nuevo sol (264 ) 276 13 (292 ) 278 (14 ) US dollar/South African rand (196 ) 121 (75 ) (196 ) 148 (48 ) US dollar/South Korean won (121 ) 110 (12 ) (114 ) 79 (35 ) Others (326 ) 197 (129 ) (424 ) 313 (111 ) 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 using 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 a 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 The company uses a sensitivity analysis to estimate the impact in its consolidated income statement and other comprehensive income of a strengthening or a weakening of the US dollar against the other group currencies. In case the open positions remain unchanged and with all other variables held constant, a 10% strengthening or weakening of the US dollar against other currencies could lead to an estimated decrease/increase on the consolidated profit before tax of approximately 144m US dollar over the next 12 months (31 December 2021 1 pre-tax 1 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 2022, designated derivative financial instruments in net investment hedges applied on the company’s debt amount to 1 m US dollar). These instruments hedge foreign operations with Canadian dollar, Chinese yuan and South Korean won functional currencies. Net foreign exchange results Foreign exchange results recognized on hedged and unhedged exposures are as follows: Million US dollar 2022 2021 2020 Hedged (economic hedges) 297 717 (181 ) Not hedged (660 ) (801 ) 195 (363 ) (84 ) 14 D) 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 relationship. 1 Amended to conform to 2022 presentation. 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 309m 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 a cash flow hedge relationship. Economic Hedges Marketable debt security hedges (interest rate risk on Brazilian real) During 2022, 2021 and 2020 , Interest rate sensitivity analysis The table below reflects the effective interest rates of interest-bearing financial liabilities at the reporting date as well as the currency in which the debt is denominated. 31 December 2022 Before hedging After hedging Interest-bearing financial liabilities Effective Effective Million US dollar interest rate Amount interest rate Amount Floating rate Canadian dollar — — 4.34 % 1 455 Euro 1.68 % 1 048 1.68 % 1 048 Pound sterling — — 3.70 % 1 078 South Korean won — 1 3.08 % 311 US dollar 5.05 % 430 — — Other 13.39 % 252 11.17 % 666 1 730 4 557 Fixed rate Canadian dollar 4.50 % 613 4.37 % 3 741 Chinese yuan 2.44 % 50 2.50 % 1 230 Euro 2.27 % 20 391 2.31 % 21 242 Pound sterling 5.13 % 2 208 5.55 % 1 607 South Korean won 2.96 % 46 0.94 % 1 896 US dollar 4.99 % 53 478 5.27 % 44 547 Other 10.53 % 1 476 12.19 % 1 172 78 261 75 434 31 December 2021¹ Before hedging After hedging Interest-bearing financial liabilities Effective Effective Million US dollar interest rate Amount interest rate Amount Floating rate Canadian dollar — — 1.21 % 2 043 Euro — 1 113 — 1 113 Pound sterling — — 1.05 % 1 002 South Korean won — — 1.67 % 502 US dollar 1.67 % 463 — — Other 5.37 % 734 5.99 % 1 504 2 310 6 164 Fixed rate Canadian dollar 4.11 % 626 4.29 % 3 158 Chinese yuan 3.87 % 34 1.78 % 194 Euro 2.27 % 21 654 2.11 % 27 553 Pound sterling 4.35 % 3 611 4.43 % 2 937 South Korean won 3.85 % 31 0.87 % 1 695 US dollar 4.93 % 59 399 5.41 % 46 288 Other 8.09 % 1 165 9.62 % 841 86 520 82 667 As 1 Amended to conform to 2022 presentation. The sensitivity analysis has been prepared based on the exposure to interest rates for the floating rate debt after hedging, assuming the amount of liability outstanding at reporting date was outstanding for the whole year. The company estimates that an increase or decrease of 100 basis points represents a reasonably possible change in applicable interest rates. Accordingly, if interest rates had been higher/lower by 100 basis points, with all other variables held constant, the interest expense would have been 46m US dollar higher/lower (31 December 2021 1 1 pre-tax Interest expense Interest expense recognized on unhedged and hedged financial liabilities are as follows: Million US dollar 2022 2021 2020 Financial liabilities measured at amortized cost – not hedged (3 641 ) (3 836 ) (4 154 ) Fair value hedges (20 ) (6 ) (1 ) Cash flow hedges 24 17 19 Net investment hedges - hedging instruments (interest component) (1 ) — 2 Economic hedges 42 141 118 (3 597 ) (3 684 ) (4 016 ) E) 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 2022 and 31 December 2021 are included in the table below (expressed in outstanding notional amounts): Million US dollar 31 December 2022 31 December 2021 Aluminum 2 165 1 241 Energy 417 350 Corn 321 292 Wheat 127 129 Plastic 122 93 Rice 100 85 Sugar 95 85 3 348 2 274 Commodity price sensitivity analysis The impact of changes in the commodity prices would not have had a material impact on AB InBev’s profit in 2022 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 2022 and 31 December 2021, would have on the equity reserves. 2022 2021 Pre-tax impact on equity Pre-tax impact on Million US dollar Volatility of Prices increase Prices decrease Volatility of Prices increase Prices decrease Aluminum 30.71 % 665 (665 ) 23.09 % 287 (287 ) Energy 49.37 % 206 (206 ) 25.88 % 91 (91 ) Corn 22.44 % 72 (72 ) 23.26 % 68 (68 ) Wheat 51.59 % 66 (66 ) 29.24 % 38 (38 ) Plastic 32.31 % 25 (25 ) 28.68 % 27 (27 ) Rice 19.31 % 19 (19 ) 15.96 % 14 (14 ) Sugar 22.17 % 21 (21 ) 26.39 % 22 (22 ) 1 Sensitivity analysis is assessed based on the yearly volatility using daily observable market data during 250 days at 31 December 2022 and 31 December 2021. F) 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 24 Share-based Payments. Finance cost and income As at 31 December 2022, an exposure for an equivalent of 100.5m of AB InBev shares was hedged, resulting in a total gain of 605m US dollar recognized in the profit or loss account for the period, of which 331m US dollar related to the company’s share-based payment programs and 274m US dollar related to the Grupo Modelo and SAB combinations. As at 31 December 2022, liabilities for equity swap derivatives amounted to 4.8 billion US dollar (31 December 2021: 5.4 billion US dollar). Equity price sensitivity analysis The sensitivity analysis on the equity swap derivatives, calculated based on a 27.53% (2021: 26.51%, 2020: 53.87%) reasonably possible volatility of the AB InBev share price, with all the other variables held constant, would show 1 660m US dollar positive/negative impact on the 2022 profit before tax (31 December 2021: 1 604m US dollar; 31 December 2020: 3.787m US dollar). G) 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 2022 to be limited. 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 2022 31 December 2021 1 Million US dollar Gross Impairment Net carrying Gross Impairment Net carrying Cash and cash equivalents 9 973 — 9 973 12 097 — 12 097 Trade receivables 3 980 (343 ) 3 637 3 796 (331 ) 3 465 Other receivables 1 545 (68 ) 1 477 1 272 (65 ) 1 207 Derivatives 391 — 391 669 — 669 Cash deposits for guarantees 189 — 189 168 — 168 Investment in unquoted companies 155 (5 ) 149 145 (6 ) 139 Investment in debt securities 123 — 123 396 — 396 Loans to customers 81 — 81 117 — 117 16 434 (416 ) 16 019 18 660 (402 ) 18 258 There was no significant concentration of credit risks with any single counterparty as of 31 December 2022 and no single customer represented more than 10% of the total revenue of the group in 2022. 1 Amended to conform to 2022 presentation. Impairment losses The allowance for impairment recognized during the period on financial assets was as follows: 31 December 2022 31 December 2021 1 31 December 2020¹ Balance at end of previous year (402 ) (376 ) (283 ) Impairment losses (38 ) (37 ) (99 ) Derecognition 24 30 49 Currency translation and other 1 (19 ) (46 ) Balance at end of period (416 ) (402 ) (376 ) H) 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. 1 Amended to conform to 2022 presentation. The following are the nominal contractual maturities of non-derivative 31 December 2022 Contractual Less More Carrying cash than than Million US dollar amount¹ flows 1 year 1-2 years 2-3 years 3-5 years 5 years Non-derivative Unsecured bond issues (76 798 ) (133 670 ) (3 273 ) (5 683 ) (3 783 ) (15 482 ) (105 450 ) Trade and other payables (27 208 ) (27 453 ) (26 376 ) (170 ) (349 ) (260 ) (297 ) Lease liabilities (2 492 ) (2 840 ) (618 ) (566 ) (414 ) (531 ) (712 ) Secured bank loans (393 ) (405 ) (371 ) (5 ) (5 ) (10 ) (14 ) Unsecured bank loans (100 ) (100 ) (100 ) — — — — Unsecured other loans (125 ) (193 ) (34 ) (78 ) (28 ) (31 ) (23 ) Bank overdraft (83 ) (83 ) (83 ) — — — — (107 199 ) (164 745 ) (30 856 ) (6 501 ) (4 579 ) (16 313 ) (106 496 ) Derivative financial liabilities Equity derivatives (4 763 ) (4 763 ) (4 763 ) — — — — Foreign exchange derivatives (265 ) (265 ) (265 ) — — — — Cross currency interest rate swaps (192 ) (191 ) (9 ) (43 ) (47 ) (62 ) (30 ) Commodity derivatives (271 ) (251 ) (249 ) (2 ) — — — (5 492 ) (5 471 ) (5 287 ) (45 ) (47 ) (62 ) (30 ) Of which: related to cash flow hedges (551 ) (530 ) (469 ) — (43 ) (17 ) — 31 December 2021 Contractual Less More Carrying cash than than Million US dollar amount¹ flows 1 year 1-2 years 2-3 years 3-5 years 5 years Non-derivative Unsecured bond issues (85 726 ) (152 064 ) (3 479 ) (3 596 ) (6 192 ) (13 800 ) (124 997 ) Trade and other payables (26 442 ) (26 643 ) (25 424 ) (314 ) (507 ) (96 ) (302 ) Lease liabilities (2 277 ) (2 429 ) (497 ) (470 ) (337 ) (450 ) (675 ) Secured bank loans (628 ) (636 ) (551 ) (53 ) (5 ) (9 ) (18 ) Unsecured bank loans (106 ) (106 ) (106 ) — — — — Unsecured other loans (40 ) (84 ) (11 ) (48 ) (5 ) (4 ) (16 ) Bank overdraft (53 ) (53 ) (53 ) — — — — (115 272 ) (182 015 ) (30 121 ) (4 481 ) (7 046 ) (14 359 ) (126 008 ) Derivative financial liabilities Equity derivatives (5 412 ) (5 420 ) (5 420 ) — — — — Foreign exchange derivatives (166 ) (166 ) (166 ) — — — — Cross currency interest rate swaps (273 ) (293 ) (147 ) (35 ) (32 ) (56 ) (23 ) Commodity derivatives (34 ) (34 ) (34 ) — — — — (5 885 ) (5 913 ) (5 767 ) (35 ) (32 ) (56 ) (23 ) Of which: related to cash flow hedges (203 ) (203 ) (170 ) — — (29 ) (4 ) 1 “Carrying amount” refers to the net book value as recognized in the statement of financial position at each reporting date. I) 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. J) FAIR VALUE The following table summarizes for each type of derivative the fair values recognized as assets or liabilities in the statement of financial position: Assets Liabilities Net 31 December 31 December 31 December 31 December 31 December 31 December Million US dollar 2022 2021 2022 2021 2022 2021 Foreign currency Foreign exchange forwards 223 238 (265 ) (129 ) (42 ) 109 Foreign currency futures 4 — — (37 ) 4 (37 ) Interest rate Interest rate swaps — 38 (5 ) — (5 ) 38 Cross currency interest rate swaps 63 111 (187 ) (273 ) (124 ) (162 ) Commodities Aluminum swaps 52 178 (174 ) (20 ) (122 ) 158 Sugar futures 4 13 — — 4 13 Energy 12 29 (28 ) (2 ) (16 ) 27 Other commodity derivatives 32 62 (69 ) (13 ) (37 ) 50 Equity Equity derivatives — — (4 763 ) (5 412 ) (4 763 ) (5 412 ) 391 669 (5 492 ) (5 886 ) (5 101 ) (5 216 ) Of which: Non-current 60 48 (184 ) (100 ) (124 ) (52 ) Current 331 621 (5 308 ) (5 786 ) (4 977 ) (5 164 ) The following table summarizes the carrying amount and the fair value of the fixed rate interest-bearing financial liabilities as recognized in the statement of financial position. Floating rate interest-bearing financial liabilities, trade and other receivables and trade and other payables, lease liabilities and derivative 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 2022 31 December 2021 2 Million US dollar Carrying amount¹ Fair value Carrying amount¹ Fair value Fixed rate US dollar (52 993 ) (52 158 ) (58 912 ) (74 852 ) Euro (19 655 ) (17 926 ) (20 856 ) (23 801 ) Pound sterling (2 148 ) (2 039 ) (3 539 ) (3 913 ) Canadian dollar (515 ) (437 ) (549 ) (604 ) Other (458 ) (448 ) (389 ) (420 ) (75 769 ) (73 008 ) (84 244 ) (103 590 ) 1 “Carrying amount” refers to the net book value as recognized in the statement of financial position at each reporting date. 2 Amended to conform to 2022 presentation. The table sets out the fair value hierarchy based on the degree to which significant market inputs are observable: Fair value hierarchy 31 December 2022 Quoted (unadjusted) Observable market Unobservable market Million US dollar prices - level 1 inputs - level 2 inputs - level 3 Financial Assets Held for trading (non-derivatives) — 9 — Derivatives at fair value through profit and loss — 41 — Derivatives in a cash flow hedge relationship 36 219 — Derivatives in a net investment hedge relationship — 94 — 36 364 — Financial Liabilities Deferred consideration on acquisitions at fair value — — 762 Derivatives at fair value through profit and loss — 4 799 — Derivatives in a cash flow hedge relationship 26 525 — Derivatives in a fair value hedge relationship — 4 — Derivatives in a net investment hedge relationship — 138 — 26 5 466 762 Fair value hierarchy 31 December 2021 Quoted (unadjusted) Observable market Unobservable market Million US dollar prices - level 1 inputs - level 2 inputs - level 3 Financial Assets Held for trading (non-derivatives) — 9 — Derivatives at fair value through profit and loss — 155 — Derivatives in a cash flow hedge relationship 58 352 — Derivatives in a fair value hedge relationship — 17 — Derivatives in a net investment hedge relationship — 87 — 58 620 — Financial Liabilities Deferred consideration on acquisitions at fair value — — 832 Derivatives at fair value through profit and loss — 5 611 — Derivatives in a cash flow hedge relationship 52 141 — Derivatives in a net investment hedge relationship — 82 — 52 5 834 832 There were no significant changes in the measurement and valuation techniques, or significant transfers between the levels of the financial assets and liabilities during the period. Movements in 2022 in the fair value “level 3” category of financial liabilities, measured on a recurring basis, are mainly related to the settlement of deferred consideration from prior years acquisitions. 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 2023, 2024 and 2026. As at 31 December 2022, the put option on the remaining shares held by ELJ was valued at 585m US dollar (31 December 2021: 589m US dollar) and recognized as a deferred consideration on acquisitions at fair value in the “level 3” category above. K) HEDGING RESERVES The company’s hedging reserves disclosed in Note 21 C hanges in equity and earnings per share Million US dollar Foreign Commodities Others Total hedging As per 1 January 2022 679 (306 ) 111 481 Change in fair value of hedging instrument recognized in OCI 143 39 — 182 Reclassified to profit or loss / cost of inventory (331 ) (208 ) 22 (518 ) As per 31 December 2022 491 (476 ) 131 145 Million US dollar Foreign Commodities Others Total hedging As per 1 January 2021 20 274 84 376 Change in fair value of hedging instrument recognized in OCI 766 123 — 888 Reclassified to profit or loss / cost of inventory (107 ) (703 ) 27 (783 ) As per 31 December 2021 679 (306 ) 111 481 L) OFFSETTING FINANCIAL ASSETS AND LIABILITIES The following financial assets and liabilities are subject to offsetting, enforceable master netting agreements and similar agreements: 31 December 2022 Million US dollar Gross amount Net amount 1 Other offsetting 2 Total net amount Derivative assets 391 391 (381 ) 10 Derivative liabilities (5 492 ) (5 492 ) 381 (5 111 ) 31 December 2021 Million US dollar Gross amount Net amount Other offsetting Total net amount Derivative assets 670 670 (651 ) 19 Derivative liabilities (5 886 ) (5 886 ) 651 (5 235 ) 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. |
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, 2022 | |
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Collateral and contractual commitments for the acquisition of property, plant and equipment, loans to customers and other | 28. Collateral and contractual commitments for the acquisition of property, plant and equipment, loans to customers and other Million US dollar 31 December 2022 31 December 2021 Collateral given for own liabilities 306 310 Contractual commitments to purchase property, plant and equipment 538 449 Contractual commitments to acquire loans to associates/customers 72 142 Other commitments 1 800 1 943 The collateral given for own liabilities of 306m US dollar as at 31 December 2022 contains 189m US dollar cash guarantees (31 December 2021: 310m US dollar collateral given for own liabilities contained 168m 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, insurance guarantees or letters of guarantees. 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 legal proceedings covered by insurance guarantees and letters of guarantee issued by the company are disclosed in Note 29 Contingencies . AB InBev has entered into commitments to purchase property, plant and equipment for 538m US dollar at 31 December 2022 (31 December 2021: 449m US dollar). In a limited number of countries AB InBev has committed itself to acquire loans to associates/customers from banks at their notional amount if the associates/customers do not respect their reimbursement commitments towards the banks. The total outstanding amount of such loans is 72m US dollar at 31 December 2022 (31 December 2021: 142m US dollar). Other commitments amount to 1 800m US dollar at 31 December 2022 and mainly cover guarantees given to pension funds, rental and other guarantees (31 December 2021: 1 943m 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 will As at 31 December 2022, 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 2022, the put option for the remaining shares held by ELJ was valued 0.6 billion US dollar (31 December 2021: 0.6 billion US dollar). The corresponding liability is presented as a non-current Risks arising from financial instruments |
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
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Contingencies | 29. Contingencies 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. Amounts have been converted to US dollar at the closing rate of the respective period. AMBEV TAX MATTERS As of 31 December 2022 and 31 December 2021, 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 2022 31 December 2021 Income tax and social contribution 11 586 9 723 Value-added and excise taxes 4 965 4 285 Other taxes 854 663 17 405 14 671 The most significant tax proceedings of Ambev are discussed below. The company and its subsidiaries have insurance guarantees and letters of guarantee for certain legal proceedings, which are presented as guarantees in civil, labor and tax proceedings. 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 The administrative proceedings have resulted in partially favorable decisions, most of which are still subject to review by the Administrative Court. In August 2022, the Upper Administrative Court rendered favorable decisions to Ambev on two cases related to the taxation of profits of foreign subsidiaries, one of which recognized the application of the double tax treaty signed by Brazil to mitigate such taxation; both of these decisions are final. In October 2022, the Lower Administrative Court rendered a favorable decision to Ambev on a third related case. Ambev is awaiting formal notification of this decision to analyze its content and any applicable legal motions or appeals. 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 updated assessed amount related to this uncertain tax position as of 31 December 2022 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 58 million Brazilian real (11 million US dollar). Goodwill InBev Holding In December 2011, Ambev received a tax assessment related to the goodwill amortization in calendar years 2005 to 2010 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 in calendar years 2011 to 2013 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 updated assessed amount related to this uncertain tax position as of 31 December 2022 is approximately 11.1 billion Brazilian real (2.1 billion US dollar) and Ambev has not recorded any provisions for this matter as it considers the chances of loss to be possible. 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 in calendar years 2007 to 2012 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. In July 2022, the Upper Administrative Court rendered a partially favorable decision to Ambev. The decision did not recognize the Special Appeal filed by the tax authorities, thereby preserving the portion of the decision rendered by the Lower Administrative Court that was favorable to Ambev with respect to the qualified penalties applied and the statute of limitation for one of the calendar years under discussion; this portion of the decision is final. In January 2023, Ambev filed a judicial proceeding to appeal the unfavorable portion of the decision. In April and August 2018, Ambev received new tax assessments charging the remaining value of the goodwill amortization in calendar years 2013 to 2014 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. Ambev and the tax authorities filed Special Appeals to the Upper Administrative Court. The Special Appeals filed in both tax assessments are awaiting judgment by the Upper Administrative Court. The updated assessed amount related to this uncertain tax position as of 31 December 2022 is approximately 2.2 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 in calendar years 2012 to 2016 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. The Special Appeal filed by Ambev was partially admitted and is awaiting judgment. In October 2022, Ambev received a new tax assessment charging the remaining value of the goodwill amortization in calendar year 2017. Ambev has filed a defense and awaits judgment by the first level administrative court. The updated assessed amount related to this uncertain tax position as of 31 December 2022 is approximately 1.3 billion Brazilian real (0.2 billion US dollar). Ambev has not recorded any provisions for this matter as it considers the chances of loss to be possible. Goodwill MAG In December 2022, CRBS S.A (a subsidiary of Ambev) received a tax assessment related to the goodwill amortization in calendar years 2017 to 2020, resulting from the merger of RTD Barbados into CRBS. Ambev filed a defense in January 2023, and awaits judgement by the first level administrative court. The updated assessed amount as of 31 December 2022 is approximately 0.3 billion Brazilian real (0.1 billion US dollar). Ambev has not recorded any provisions for this matter as it considers the chance of loss to be possible. Ambev has continued to take the same deductions for the calendar years following the assessed periods (2021 to February 2022). Therefore, if Ambev receives similar tax assessments for this period, Ambev management believes the outcome would be consistent with the already assessed periods. Disallowance of financial expenses In 2015, 2016 and 2020, Ambev received tax assessments related to the disallowance of alleged non-deductible The updated assessed amount related to this uncertain tax position as of 31 December 2022 is approximately 5.2 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, for calendar years as of 2007 In January 2020, the Lower Administrative Court rendered unfavorable decisions regarding four of these assessments related to the periods of 2015 and 2016. In these cases, Ambev filed Special Appeals to the Upper Administrative Court which are pending judgment. 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. In 2021, Ambev received unfavorable decisions from the first level administrative court in two of these assessments with respect to the 2015 and 2016 isolated fine cases, and filed appeals in connection therewith, which are pending judgment by the Lower Administrative Court. In 2022, Ambev received an unfavorable decision from the first level administrative court in the second assessment related to the 2016 isolated fine case, and filed an appeal in connection therewith which awaits judgment by the Lower Administrative Court. In October 2022, Ambev received a new tax assessment charging such isolated fine related to calendar year 2017. Ambev has filed a defense in this case, and awaits judgment by the first level administrative court. The other cases are still awaiting final decisions at both administrative and judicial courts. The updated assessed amount as of 31 December 2022 is approximately 12.6 billion Brazilian real (2.4 billion US dollar). Ambev has not recorded any provisions for this matter as it considers the chance of loss to be possible. The company has continued to take the same deductions for the calendar years following the assessed periods (the 2018 to 2022 calendar years). Therefore, if Ambev receives similar tax assessments for this period, Ambev management believes the outcome would be the same as those tax years already assessed. In addition, Ambev has been charged isolated fines due to the non-recognition 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, Arosuco 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 which is pending judgment. The updated assessed amount related to this uncertain tax position as of 31 December 2022 is approximately 0.6 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 2013, as approved in a Shareholders Meeting, Ambev implemented a corporate restructuring with the purpose of simplifying its corporate structure and converting into a single class of shares company, among other factors. One of the steps of such restructuring involved a contribution of shares followed by the merger of shares of its controlled entity, Companhia de Bebidas das Américas, into Ambev. As one of the results of such restructuring, the counterpart register of the positive difference between the value of shares issued for the merger and the net equity value of its controlled entity’s share was accounted, as per IFRS 10/CPC 36 and ICPC09, in an equity account of Ambev referred to as carrying value adjustment. 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, which awaits judgement. The favorable portion of the decision is subject to mandatory review by 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 new tax assessment was filed by Ambev in January 2021. In June 2021, Ambev received a partially favorable decision and filed an appeal to the Lower Administrative Court, which also awaits judgment. Similar to the first tax assessment, the favorable portion of the decision is also subject to mandatory review by the Lower Administrative Court. In December 2022, Ambev received a new tax assessment related to the deduction of the IOC in 2017. The defense against this new tax assessment was filed by Ambev in January 2023, which is pending judgment by the first level administrative court. The updated assessed amount as of 31 December 2022 is approximately 13.8 billion Brazilian real (2.6 billion US dollar). Ambev has not recorded any provisions for this matter as it considers the chance of loss to be possible. The uncertain tax position continued to be adopted by Ambev as it also distributed or accrued IOC in the years following the assessed period (2018-2022) and deducted such amounts from its Corporate Income Taxes taxable basis (2018-2022). Therefore, in a scenario where the IOC deductibility would also be questioned for the period after 2017, on the same basis and arguments as the aforementioned tax assessments, Ambev management estimates that the outcome of such potential further assessments would be consistent with the already assessed periods. 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, This uncertain tax position continued to be applied by the Company impacting calendar years following those assessed (2019-2022) in which it benefited from the income tax reduction provided for in Provisional Measure No. 2199-14/2001. Tax Loss Offset Ambev and certain of its subsidiaries received a number of assessments from the Brazilian Federal Tax Authorities relating to the offset of tax losses carried forward in the context of business combinations. In February 2016, the Upper Administrative Court ruled unfavorably to Ambev in two of these cases, following which Ambev filed judicial proceedings. In September 2016, Ambev received a favorable first level decision in one of the judicial claims which was confirmed by the second-level judicial court in December 2022. This decision is subject to appeal by the tax authorities. In March 2017, Ambev received an unfavorable first level decision with respect to the second judicial case and filed an appeal, which is pending judgment by the second-level judicial court. There is a third case being challenged at the administrative level in which an unfavorable decision was rendered to Ambev by the Lower Administrative Court in June 2019. Ambev has appealed this decision and awaits judgment by the Upper Administrative Court. The amount related to this uncertain tax position as of 31 December 2022 is approximately 0.5 billion Brazilian real (0.1 billion US dollar). Ambev has not recorded any provisions for this matter as it considers the chance of loss to be possible. 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 presumed Ambev and its subsidiaries have 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 5.9 billion Brazilian therewith. In addition, Ambev and its subsidiaries have been charged non-recognition 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 partially favorable decision at the administrative level in one of the cases. In July 2022, Ambev received the first judicial decision on this matter; the decision was unfavorable to Ambev and it has filed an appeal. In October 2022, the Upper Administrative Court rendered a partially favorable decision to Ambev in one of the cases related to this matter. Ambev awaits formal notification of this decision to assess whether any portion of the tax assessment may be challenged at the judicial level. Ambev management estimates the possible loss related to these assessments to be approximately 1.7 billion Brazilian of 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 considered 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 became final (and no longer subject to appeal) in December 2021 and it does not change the likelihood of loss in Ambev’s tax assessments. With respect to the assessments issued by the State of São Paulo, Ambev received unfavorable decisions at the second administrative level in April, May and June 2022. In these cases, Ambev has filed appeals to the second administrative level. Ambev management estimates the possible losses related to these assessments to be approximately 1.7 billion Brazilian real (0.3 billion US dollar) as of 31 December 2022. Ambev has not recorded any provision in connection therewith. In addition, in 2018 and 2021, Ambev received tax assessments from the States of Rio Grande do Sul and São Paulo charging alleged differences in ICMS due to the disallowance of credits arising from transactions with suppliers located in the Manaus Free Trade Zone. With regard to the assessment issued by the State of Rio Grande do Sul, Ambev received a favourable judgment at the second administrative level in February 2022, which is still subject to appeal by tax authorities. With respect to the assessments issued by the State of São Paulo, Ambev received unfavourable judgments at the first administrative level in May and June 2022. In these cases, Ambev has filed appeals to the second administrative level. Ambev management estimates the possible losses related to these assessments to be approximately 0.7 billion Brazilian real (0.1 billion US dollar) as of 31 December 2022. 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 9.3 billion Brazilian real (1.8 billion US dollar) as of 31 December 2022. Ambev has not recorded any provisions for this matter as it considers the chance of loss to be possible. 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, one case is pending decision by the second level judicial court after the first level judicial court rendered an unfavorable decision to Ambev. Ambev management estimates the possible loss related to these assessments to be approximately 1.6 billion Brazilian real ( 0.3 AB INBEV’S TANZANIA TAX MATTERS Tanzania Breweries Limited (“TBL”), a subsidiary of AB InBev in Tanzania, received a tax assessment for 850 billion Tanzanian shillings (0.4 billion US dollar) related to income tax on the alleged capital gain derived from the change in underlying ownership of TBL which the Tanzania Revenue Authority claims was more than 50% following the 2016 combination of SAB and AB InBev. TBL filed an appeal to the Tax Revenue Appeals Board. TBL believes that the assessment is without merit and will vigorously defend against the assessment. No related provision has been made. AB INBEV’S SOUTH AFRICA TAX MATTERS The South African Revenue Service (“SARS”) conducted an audit of AB InBev’s South African subsidiary, the South African Breweries (Pty) Ltd. (“SAB”), in relation to the 2017 repurchase of SAB’s equity stake in Coca-Cola Beverages Africa (Pty) Ltd (“CCBA”), the Coca-Cola bottling business in Africa, by CCBA. The preliminary audit finding claims that SAB owes in taxes, in addition to potential penalties and interest, which are unspecified but may be significant as a proportion of the total. SAB contests both claims and has responded to the preliminary audit finding. SAB intends to object to any assessment issued, but may be required to secure or pre-pay some or all of the taxes assessed, pending the outcome of SAB’s challenge and any appeal. No related provision has been made. AB INBEV’S AUSTRALIAN BUSINESS TAX MATTERS In 2019, SAB Australia Pty Limited (“SAB Australia”), a subsidiary of AB InBev, received amended tax assessments for 0.4 billion Australian dollar (0.3 bill i In June 2022, AB InBev reached a settlement with the Australian tax authorities that resolved the pre-transaction income tax liabilities, resulting in a payment ). The disposal of the Australian business on 1 June 2020 included an indemnity by AB InBev for all pre-transaction 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 Following the initial annulment of the European Commission’s decision by the European General Court in 2019, the European Commission opened new state aid investigations into the individual Belgian tax rulings, including the one issued to AB InBev in September 2019, to remedy the concerns that had led to the annulment. These investigations relate to the same rulings that were the subject of the European Commission’s decision issued on 11 January 2016. AB InBev has filed its observations in respect of the opening decisions with the European Commission. On 28 October 2021, the European Commission stayed the new state aid investigations into the individual Belgian tax rulings pending final resolution of the case. 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, and again on 9 July 2021 for subsequent years. The Belgian tax authorities appealed both judgments. In January 2019, AB InBev deposited 68 million euro (72 million 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 cases, 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 68 million euro (72 million US dollar) in 2020. CERBUCO BREWING ARBITRATION Cerbuco Brewing Inc., (“Cerbuco”) a Canadian subsidiary of Ambev, owns a 50 % equity ownership in Cerveceria Bucanero S.A. (“Bucanero”), a joint venture in Cuba. In 2021, Cerbuco initiated an arbitration proceeding at the International Chamber of Commerce (“ICC”), relating to the potential breach of certain obligations relating to the joint venture, with the terms of reference being formally executed in 2022. Depending on the outcome of the arbitration, there may be an impact on Cerbuco’s rights. As a result, Ambev’s ability to continue consolidating Bucanero into its financial statements may also be affected. The financial impact has not yet been ascertained, as it depends on the outcome of the arbitration. 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 1.2 billion Brazilian real (0.2 billion US dollar) in addition to legal fees. Ambev disputes these claims and intends to continue to vigorously defend these cases. 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 the plaintiffs’ appeals were denied by the Brazilian Supreme Court (“STF”). The plaintiffs filed an appeal for further review by the STF chamber, which was denied by the STF chamber in a unanimous ruling. The fourth case was ruled favorably to Ambev by the STJ’s Special Court and the judgment became final. The fifth case was remitted to the STJ’s lower court for a new judgment and the sixth case was ruled favorably to Ambev and the decision became final. Considering all of these facts, Ambev and its external counsels strongly believe that the chance of loss in these cases is remote. |
Non-controlling interests
Non-controlling interests | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Non-controlling interests | 30. Non-controlling As at 31 December 2022 and 2021, material non-controlling listed Summarized financial information of Ambev and Budweiser APAC, in which the company has material non-controlling Ambev Budweiser APAC Million US dollar 31 December 2022 31 December 2021 31 December 2022 31 December 2021 Summarized statement of financial position information Current assets 7 248 6 922 3 606 3 161 Non-current 19 193 17 915 12 390 13 464 Current liabilities 7 770 6 965 4 414 4 691 Non-current 2 700 2 817 748 851 Equity attributable to equity holders 15 707 14 809 10 765 11 013 Non-controlling 263 246 69 70 Ambev Budweiser APAC Million US dollar 2022 2021 2020 2022 2021 2020 Summarized income statement and other comprehensive income information Revenue 15 434 13 570 11 373 6 478 6 788 5 588 Net income 2 883 2 444 2 286 949 981 537 Attributable to: Equity holders 2 800 2 360 2 217 913 950 514 Non-controlling 84 84 69 36 31 23 Net income 2 883 2 444 2 286 949 981 537 Other comprehensive income (1 300 ) 629 1 467 (812 ) (289 ) 635 Total comprehensive income 1 584 3 074 3 753 137 692 1 172 Attributable to: Equity holders 1 517 2 970 3 647 105 660 1 147 Non-controlling 67 104 106 32 32 25 Summarized cash flow information Cash flow from operating activities 3 997 4 266 3 673 1 577 1 903 1 301 Cash flow from investing activities (969 ) (1 441 ) (1 325 ) (440 ) (731 ) (572 ) Cash flow from financing activities (3 164 ) (2 988 ) (1 676 ) (500 ) (464 ) (432 ) Net increase/(decrease) in cash and cash equivalents (136 ) (163 ) 673 637 708 297 Dividends paid by Ambev and its subsidiaries to non-controlling , non-controlling On 31 December 2020, the company completed the issuance of a 49.9% minority stake in its US-based US-based Other non-controlling non-controlling US-based non-controlling |
Related parties
Related parties | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Related parties | 31. Related parties TRANSACTIONS WITH DIRECTORS AND EXECUTIVE COMMITTEE MEMBERS (KEY MANAGEMENT PERSONNEL) AB InBev’s Executive Committee members’ compensation consists of short-term employee benefits (primarily salaries) and post-employment benefits from pension plans of their respective country – see also Note 23 Pensions and similar obligations Share-based Payments 2022 2021 2020 Million US dollar Directors Executive Directors Executive Directors Executive Short-term employee benefits 2 15 2 24 2 4 Termination benefits — — — — — 2 Share-based payment — 35 — 33 — 7 2 50 2 57 2 13 Directors’ compensation consists mainly of directors’ fees. During 2022, AB InBev entered into the following transactions: • The lease of commercial premises from and the sale of malt-based beverages and beer to companies in which one of the company’s Board Member had a significant influence as of 31 December 2022. The transactions happened mainly through AB InBev’s subsidiary Bavaria S.A. for an aggregated consideration of approximately 33m US dollar (2021: 19m US dollar; 2020: 13m US dollar). The outstanding balance of these transactions as of 31 December 2022 amounts to 1m US dollar (31 December 2021: 3m US dollar). • In 2021, the company acquired, through Grupo Modelo and its subsidiaries, information technology and infrastructure services for a consideration of approximately 1m US dollar (2020: 1m US dollar) from a company in which one of the company’s Board Member had significant influence. In 2022, there were no such transactions. JOINTLY CONTROLLED ENTITIES Interests in joint ventures include three entities in Brazil, one in Mexico and one in Canada. None of these joint ventures are material to the company. TRANSACTIONS WITH ASSOCIATES Significant interests in associates are shown in note 16 Investments in associates Million US dollar 2022 2021 2020 Gross profit (4 ) 58 (118 ) Current assets 100 57 55 Current liabilities 16 99 115 TRANSACTIONS WITH PENSION PLANS AB InBev’s transactions with pension plans mainly comprise (12)m US dollar other expense to pension plans in the US in 2022 (2021: (12)m US dollar; 2020: (12)m US dollar). |
Supplemental guarantor financia
Supplemental guarantor financial information | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Supplemental guarantor financial information | 32. Supplemental guarantor financial information European public debt Certain debt securities issued outside the United States in reliance on Regulation S by Anheuser-Busch InBev SA/NV (“ABISA”) under its Euro Medium-Term Note Programme are guaranteed by Anheuser-Busch InBev Worldwide Inc. (“ABIWW”), Anheuser-Busch InBev Finance Inc. (“ABIFI”), Anheuser-Busch Companies, LLC (“ABC”), Brandbrew S.A. (“Brandbrew”), Brandbev S.à r.l. (“Brandbev”) and Cobrew NV (“Cobrew”) (collectively, the “Subsidiary Guarantors”). ABISA owns, directly or indirectly, 100% of each of the Subsidiary Guarantors. The information presented below has been presented to satisfy the disclosure requirements of the United Kingdom Financial Conduct Authority. 1 The 2021 Executive Committee members’ compensation includes the cost reported for AB InBev’s former CEO up to 30 June 2021 and the costs for the newly appointed CEO for the full year 2021. Summarized Financial Information The first five columns in the table below present summarized financial information for (i) ABISA, (ii) ABIWW, (iii) ABIFI and (iv) ABC, and (v) Brandbrew, Brandbev and Cobrew. Investments in consolidated subsidiaries are presented under the equity method of accounting. The final column presents financial information for ABISA and the Subsidiary Guarantors on a combined basis after elimination of intercompany transactions and balances among them and excluding investments in and equity in the earnings of both non- Income Statement Data For the year ended 31 December 2022 ABISA ABIWW ABIFI ABC Brandbrew, Eliminations Total ABISA Million US dollar Revenue - external 443 — — 14 489 — — 14 932 Revenue from non-guarantor 103 — — 196 — — 299 Revenue from guarantor subsidiaries — — — 57 — (57 ) — Cost of sales - (280 ) — — (6 030 ) — — (6 310 ) Cost of sales to non-guarantor (152 ) — — (585 ) — — (738 ) Cost of sales to guarantor subsidiaries (14 ) — — (36 ) — 51 — Gross profit 99 — — 8 090 — (6 ) 8 183 Selling, general and administrative expenses - external (609 ) — — (3 889 ) (3 ) — (4 501 ) Selling, general and administrative expenses (non-guarantor (4 ) — — (329 ) 7 — (327 ) Selling, general and administrative expenses (guarantor subsidiaries) 287 1 237 — (1 535 ) 4 6 — Other operating income/(expenses)¹ - external 34 — — (26 ) (1 ) — 7 Other operating income/(expenses) (non-guarantor 43 — — 136 — — 179 Other operating income/(expenses) (guarantor 138 (4 ) — (133 ) — — — Profit/(loss) from operations (11 ) 1 233 — 2 315 6 — 3 542 Net finance income/(cost) 1 (701 ) (1 492 ) (295 ) (984 ) 686 — (2 785 ) Net finance income/(cost) (non-guarantor 17 (210 ) 19 773 14 — 611 Net finance income/(cost) (guarantor subsidiaries) 236 1 003 292 (1 035 ) (495 ) — — Income tax expense (15 ) (125 ) (3 ) (250 ) — — (393 ) Profit/(loss) (474 ) 409 12 818 210 — 975 Income from non-guarantor 5 958 (3 ) — 199 263 (6 418 ) — Income from guarantor subsidiaries 485 1 018 — — — (1 503 ) — Profit of the year 5 969 1 423 12 1 018 473 (7 920 ) 975 1 Other operating income/(expenses) and Net finance income/(cost) include exceptional items. Income Statement Data For the year ended 31 December 2021 ABISA ABIWW ABIFI ABC Brandbrew, Eliminations Total ABISA Million US dollar Revenue - external 472 — — 14 104 — — 14 576 Revenue from non-guarantor 122 — — 222 — — 344 Revenue from guarantor subsidiaries — — — 54 — (54 ) — Cost of sales - (275 ) — — (5 462 ) — — (5 737 ) Cost of sales to non-guarantor (157 ) — — (687 ) — — (844 ) Cost of sales to guarantor subsidiaries (15 ) — — (34 ) — 49 — Gross profit 147 — — 8 197 — (5 ) 8 339 Selling, general and administrative expenses - external (589 ) — — (3 974 ) 6 — (4 557 ) Selling, general and administrative expenses (non-guarantor (17 ) — — (248 ) 12 — (253 ) Selling, general and administrative expenses (guarantor subsidiaries) 158 1 313 — (1 491 ) 15 5 — Other operating income/(expenses)¹ - external 2 — — (191 ) — — (189 ) Other operating income/(expenses) (non-guarantor 37 — — 114 — — 151 Other operating income/(expenses) (guarantor subsidiaries) 42 (5 ) — (37 ) — — — Profit/(loss) from operations (220 ) 1 308 — 2 370 33 — 3 491 Net finance income/(cost) 1 (1 016 ) (2 088 ) (346 ) (1 484 ) 109 — (4 825 ) Net finance income/(cost) (non-guarantor 149 2 025 60 713 817 — 3 764 Net finance income/(cost) (guarantor subsidiaries) 139 (1 314 ) 350 1 276 (451 ) — — Share of result of associates and joint ventures — — — 2 — — 2 Income tax expense (13 ) (56 ) (12 ) (296 ) — — (377 ) Profit/(loss) (961 ) (125 ) 52 2 581 508 — 2 055 Income from non-guarantor 4 717 (58 ) — 201 361 (5 221 ) — Income from guarantor subsidiaries 914 2 977 — — — (3 891 ) — Profit of the year 4 670 2 794 52 2 782 869 (9 112 ) 2 055 1 Other operating income/(expenses) and Net finance income/(cost) include exceptional items. Statement of Financial Position Data As at 31 December 2022 ABISA ABIWW ABIFI ABC Brandbrew, Eliminations Total ABISA and Subsidiary Guarantors after eliminations Million US dollar Due from non-guarantor 11 750 5 033 — 64 009 18 240 — 99 031 Due from guarantor subsidiaries — 6 649 3 815 9 058 — (19 522 ) — Due from subsidiaries 11 750 11 682 3 815 73 067 18 240 (19 522 ) 99 031 Property, plant and equipment 32 — — 4 406 — — 4 438 Goodwill and intangible assets 1 538 — — 55 575 97 — 57 210 Investments in subsidiaries 112 409 79 331 — 21 018 15 461 (228 219 ) — Derivatives — — — — 59 — 59 Other non-current — 240 10 21 — — 270 Other non-current 113 980 79 570 10 81 020 15 617 (228 219 ) 61 978 Total non-current 125 729 91 252 3 825 154 087 33 857 (247 741 ) 161 009 Due from non-guarantor 909 154 363 1 993 176 — 3 595 Due from guarantor subsidiaries 548 6 897 65 93 1 737 (9 342 ) — Due from subsidiaries 1 457 7 051 428 2 086 1 913 (9 342 ) 3 595 Inventories — — — 939 — — 939 Derivatives — — — 34 205 — 239 Trade and other receivables 166 — — 745 151 — 1 062 Cash and cash equivalents 73 1 — 110 10 659 — 10 843 Other current assets 8 273 — — 2 — 284 Other current assets 248 274 — 1 828 11 018 — 13 367 Total current assets 1 705 7 325 428 3 914 12 931 (9 342 ) 16 962 Total equity 73 398 55 459 380 108 991 23 241 (228 219 ) 33 250 Due to non-guarantor 16 496 2 960 — 1 851 3 350 — 24 657 Due to guarantor subsidiaries 3 815 9 058 — 6 649 — (19 522 ) — Due to subsidiaries 20 311 12 018 — 8 500 3 350 (19 522 ) 24 657 Interest-bearing loans and borrowings 22 833 30 541 3 802 19 916 — — 77 092 Employee benefits 3 — — 469 — — 472 Deferred tax liabilities — — — 6 538 16 — 6 555 Derivatives — — — — 184 — 184 Other non-current — — — 198 — — 198 Other non-current 22 836 30 541 3 802 27 122 200 — 84 502 Total non-current 43 147 42 559 3 802 35 622 3 550 (19 522 ) 109 159 Due to non-guarantor 258 13 — 2 321 10 302 — 12 894 Due to guarantor subsidiaries 2 259 25 — 6 951 106 (9 342 ) — Due to subsidiaries 2 517 38 — 9 272 10 408 (9 342 12 894 Interest-bearing loans and borrowings — — — 66 — — 66 Derivatives 2 — — 95 5 038 — 5 135 Bank overdrafts 7 477 — — — 4 509 — 11 986 Trade and other payables 821 521 69 3 911 41 — 5 363 Other current liabilities 73 — 2 43 — — 117 Other current liabilities 8 372 521 71 4 115 9 588 — 22 668 Total current liabilities 10 889 559 71 13 387 19 996 (9 342 ) 35 562 Statement of Financial Position Data As at 31 December 2021 ABISA ABIWW ABIFI ABC Brandbrew, Eliminations Total ABISA Million US dollar Due from non-guarantor 13 141 15 102 1 200 32 092 16 496 — 78 031 Due from guarantor subsidiaries — — 6 076 1 233 — (7 309 ) — Due from subsidiaries 13 141 15 102 7 276 33 325 16 496 (7 309 ) 78 031 Property, plant and equipment 62 — — 4 343 — — 4 405 Goodwill and intangible assets 1 364 — — 55 283 97 — 56 744 Investments in subsidiaries 112 722 79 596 — 35 862 15 017 (243 197 ) — Derivatives — — — — 48 — 48 Other non-current — 207 — 30 — — 237 Other non-current 114 148 79 803 — 95 518 15 162 (243 197 ) 61 434 Total non-current 127 289 94 905 7 276 128 843 31 658 (250 506 ) 139 465 Due from non-guarantor 646 — 71 3 007 3 436 — 7 160 Due from guarantor subsidiaries 655 5 934 731 81 3 402 (10 803 ) — Due from subsidiaries 1 301 5 934 802 3 088 6 838 (10 803 ) 7 160 Inventories — — — 961 — — 961 Derivatives — — — 132 293 — 425 Trade and other receivables 201 — — 546 9 — 756 Cash and cash equivalents 1 127 7 7 367 8 156 — 9 664 Other current assets 9 — — 57 2 — 68 Other current assets 1 337 7 7 2 063 8 460 — 11 874 Total current assets 2 638 5 941 809 5 151 15 298 (10 803 ) 19 034 Total equity 68 669 57 635 678 71 348 23 849 (243 197 ) (21 018 ) Due to non-guarantor 17 517 7 325 — 20 768 3 350 — 48 960 Due to guarantor subsidiaries 6 076 1 233 — — — (7 309 ) — Due to subsidiaries 23 593 8 558 — 20 768 3 350 (7 309 ) 48 960 Interest-bearing loans and borrowings 25 483 33 064 7 268 19 905 — — 85 720 Employee benefits 3 — — 803 — — 806 Deferred tax liabilities — — 1 6 520 60 — 6 581 Derivatives — — — — 100 — 100 Other non-current — — — 110 — — 110 Other non-current 25 486 33 064 7 269 27 338 160 — 93 317 Total non-current 49 079 41 622 7 269 48 106 3 510 (7 309 ) 142 277 Due to non-guarantor 244 732 — 4 771 9 190 — 14 937 Due to guarantor subsidiaries 4 658 24 — 5 875 246 (10 803 ) — Due to subsidiaries 4 902 756 — 10 646 9 436 (10 803 ) 14 937 Interest-bearing loans and borrowings 1 218 — 19 — — 238 Derivatives 2 — — 12 5 666 — 5 680 Bank overdrafts 6 292 — 2 — 4 474 — 10 768 Trade and other payables 905 543 131 3 863 21 — 5 463 Other current liabilities 77 72 5 — — — 154 Other current liabilities 7 277 833 138 3 894 10 161 — 22 303 Total current liabilities 12 179 1 589 138 14 540 19 597 (10 803 ) 37 240 |
Events after the reporting date
Events after the reporting date | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Events after the reporting date | 33. Events after the reporting date None. |
AB InBev companies
AB InBev companies | 12 Months Ended |
Dec. 31, 2022 | |
Investments accounted for using equity method [abstract] | |
AB InBev companies | 34. AB InBev companies The most important AB InBev companies included in the consolidation scope are listed below. The complete list of the company’s investments is available at AB InBev NV, Brouwerijplein 1, B-3000 LIST OF THE MOST IMPORTANT FULLY CONSOLIDATED COMPANIES Name and registered office of the fully consolidated companies % economic interest 31 December 2022 Argentina Cerveceria y Malteria Quilmes Saica Y G - Charcas 5160 - C1425BOF Buenos Aires 61.62 % Belgium Anheuser-Busch InBev NV - Grand Place 1 - 1000 Brussels 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 - Boulevard Industriel, 21 - 1070 Anderlecht 100.00 % Bolivia Cervecería Boliviana Nacional S.A. - Av. Montes 400 & Calle Chuquisaca No. 121, Zona Challapampa, La Paz 52.72 % Botswana Kgalagadi Breweries (Pty) Ltd - Plot 20768, Kudu Road, Broadhurst Industrial Estate - PO Box 1157 - Gaborone¹ 31.06 % Brazil Ambev S.A. - Rua Dr. Renato Paes de Barros 1017, 3° Andar Itaim Bibi, São Paulo 61.77 % Canada Labatt Brewing Company Limited - 207 Queen’s Quay West, Suite 299 - M5J 1A7 - Toronto 61.77 % Chile Cerveceria Chile S.A - Av. Presidente Eduardo Frei Montalva 9600, Quilicura - 8700000 Santiago de Chile 61.77 % China Anheuser-Busch Inbev (China) Sales Company Limited - Shangshou, Qin Duan Kou, Hanyang Area - 430051 - Wuhan City, Hubei Province 87.22 % Anheuser-Busch InBev (Wuhan) Brewing Co., Ltd. - Shangshou, Qin Duan Kou, Hanyang Area - 430051 - Wuhan City, Hubei Province 84.66 % Anheuser-Busch InBev Sedrin Brewery Co., Ltd - No.1 West Xuejin Avenue,Hanjiang District - 351111 - Putian City, Fujian Province 87.22 % Anheuser-Busch InBev Southeast Sales Co., Ltd. - No.1 West Xuejin Avenue, Hanjiang District, Putian, Fujian , P.R.China - 351111 - Putian City, Fujian Province 87.22 % Blue Girl Beer (Guangzhou) Co. Ltd - Units 2101,21/F, Tower A, China International Centre, 33 Zhongshan San Road - 510000 - Guangzhou City 56.69 % Colombia Bavaria & Cia S.C.A. - Carrera 53 A, No 127 - 35 - 110221 - Bogota 99.16 % Czech Republic Pivovar Samson s.r.o. - Lidická 458/51, 37001, České Budějovice 100.00 % Dominican Republic Cervecería Nacional Dominicana S.A. - Autopista 30 de Mayo Km 61/2, Distrito Nacional - A.P. 10100 - Santo Domingo 2 52.51 % Ecuador Cervecería Nacional S.A. - Via a daule km 16,5 y calle cobre s/n - EC090150 - Guayaquil, Guayas 95.58 % El Salvador La Constancia Ltda de C.V. - Avenida Independencia, No 526 - PBX (503) 2209-7555 - San Salvador 100.00 % France AB InBev France S.A.S. - Immeuble Crystal, 38, Place Vauban - C.P. 59110 - La Madeleine 100.00 % 1 The group’s shares entitle the holder to t wic tin ght 2 85% owned by Ambev S.A. Germany Anheuser-Busch InBev Deutschland GmbH & Co. KG - Am Deich 18/19 - 28199 - Bremen 100.00 % Anheuser-Busch InBev Germany Holding GmbH - Am Deich 18/19 - 28199 - Bremen 100.00 % Ghana Accra Brewery PLC - 20 Graphic Road, South Industrial Area - Box GP1219 - Accra 61.61 % Honduras Cervecería Hondureña S.A. de C.V. - Boulevard del Norte - Postal No. 86 - San Pedro Sula 99.61 % Hong Kong Budweiser Brewing Company APAC Limited - Suites 3012-16, 87.22 % India Crown Beers India Private Limited - 510/511, Minerva House, Sarojini Devi Road - 500003 - Secunderabad, Telangana 87.22 % Anheuser Busch InBev India Limited - Unit No.301-302, 87.05 % Italy Anheuser-Busch InBev Italia - Via Fratelli Castiglioni, 8, 20124 Milano MI, Italy 100.00 % Luxembourg Brasserie de Luxembourg Mousel-Diekirch S.A. - Rue de la Brasserie, 1 - L-9214 95.82 % Mexico Cervecería Modelo de México S. de R.L. de C.V. - Cerrada de Palomas 22, 6th Floor, Reforma Social, Miguel Hidalgo, 11650 Mexico City 100.00 % Mozambique Cervejas De Moçambique SA - Rua do Jardim 1329, Maputo 51.47 % Netherlands AB InBev Africa B.V. - Ceresstraat 1 - 4811 CA - Breda 62.00 % InBev Nederland N.V. - Ceresstraat 1 - 4811 CA - Breda 100.00 % Interbrew International B.V. - Ceresstraat 1 - 4811 CA - Breda 100.00 % Nigeria International Breweries PLC - 22/36 Glover Road, Lagos, Ikoyi¹ 43.00 % Panama Cervecería Nacional S. de R.L. - Complejo Business Park, Costa del Este Torre Oeste, Piso No.2 Panamá 61.77 % Paraguay Cervecería Paraguaya S.A. - Ruta Acceso Sur Km 30 s/ Desvío a Villeta N° 825 53.96 % 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) - 25 - Lima 97.22 % Unión de Cervecerías Peruanas Backus y Johnston S.A.A. - Av. Nicolas Ayllon 3986, Ate - 3 - Lima 93.65 % South Africa SABSA Holdings (Pty) Ltd - 65 Park Lane, Sandown - 2001 - Johannesburg 100.00 % The South African Breweries (Pty) Ltd - 65 Park Lane, Sandown - 2146 - Johannesburg 100.00 % South Korea Oriental Brewery Co Ltd - 517, Yeongdong-daero, Gangam-gu, 87.22 % Spain Compañía Cervecera de Canarias S.A. - C/ Mali, 7 (38320 La Laguna - Santa Cruz de Tenerife) 51.03 % Switzerland Anheuser-Busch InBev Procurement GmbH - Suurstoffi 22 - 6343 - Rotkreuz 100.00 % Tanzania Tanzania Breweries PLC - Uhuru Street, Plot No 79, Block AA, Mchikichini, Ilala District, Dar es Salaam¹ 39.65 % 1 The company is consolidated due to the group’s majority shareholders and ability to control the operations. Uganda Nile Breweries Ltd - Plot M90 Yusuf Lule Road, Njeru - P.O. Box 762 - Jinja 61.64 % United Kingdom AB InBev Holdings Limited - Bureau, 90 Fetter Lane - EC4A 1EN - London 100.00 % AB InBev International Brands Limited - AB InBev House, Church Street West, Woking, Surrey, GU21 6HT 100.00 % AB InBev UK Limited - Bureau, 90 Fetter Lane - EC4A 1EN - London 100.00 % ABI SAB Group Holding Limited - Bureau, 90 Fetter Lane - EC4A 1EN - London 100.00 % ABI UK Holding 1 Limited - Bureau, 90 Fetter Lane - EC4A 1EN - London 100.00 % ZX Ventures Limited - Bureau, 90 Fetter Lane - EC4A 1EN - London 100.00 % United States Anheuser-Busch Americas Holdings LLC - One Busch Place - MO 63118 - St. Louis 100.00 % Anheuser-Busch Companies LLC - One Busch Place - MO 63118 - St. Louis 100.00 % Anheuser-Busch InBev Worldwide Inc. - One Busch Place - MO 63118 - St. Louis 100.00 % Anheuser-Busch International LLC - One Busch Place - MO 63118 - St. Louis 100.00 % Anheuser-Busch LLC - One Busch Place - MO 63118 - St. Louis 100.00 % Anheuser-Busch North American Holding LLC - One Busch Place - MO 63118 - St. Louis 100.00 % MCC Holding Company LLC - One Busch Place - MO 63118 - St. Louis 50.10 % Uruguay Cerveceria y Malteria Paysandu S.A. - Cesar Cortinas, 2037 - C.P. 11500 Montevideo 61.77 % Vietnam Anheuser-Busch InBev Vietnam Brewery Co., Ltd - 2 VSIP II-A, 87.22 % Zambia Zambian Breweries PLC - Plot No 6438, Mungwi Road - P.O. Box 31293 - Lusaka 54.02 % LIST OF THE MOST IMPORTANT COMPANIES CONSOLIDATED BY APPLYING THE EQUITY METHOD OF ACCOUNTING (ASSOCIATES) Name and registered office of associates % economic interest as at 31 December 2022 France Société des brasseries et glacières internationales S.A. - 49 rue François 1er - 75008 - Paris¹ 20.00 % Luxembourg B.I.H. Brasseries Internationales Holding (Angola) Limited - 34-38 27.50 % B.I.H. Brasseries Internationales Holding Limited - 34-38 20.00 % Netherlands AB InBev Efes B.V. - 1227 Strawinskylaan - 1077XX Amsterdam 50.00 % Turkey Anadolu Efes Biracilik Ve Malt Sanayii A.S. - Bahçelievler Mahallesi, Sehit Ibrahim Koparir Caddesi No. 4, Bahçelievler Istanbul 24.00 % Zimbabwe Delta Corporation Limited - Sable House, Northridge Close, Borrowdale - P.O. Box BW 343 - Harare 25.27 % 1 Related to Castel group. |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
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. |
PRINCIPLES OF CONSOLIDATION | (C) 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 v entur 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 34 AB InBev companies |
SUMMARY OF CHANGES IN ACCOUNTING POLICIES | (D) SUMMARY OF CHANGES IN ACCOUNTING POLICIES A number of amendments to standards became mandatory for the first time for the financial year beginning on 1 January 2022 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. |
FOREIGN CURRENCIES | (E) 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 reporting 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 reporting 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 Financial Reporting in Hyperinflationary Economies Under IAS 29, non-monetary re-measured The 2022 results, restated for purchasing power, were translated at the December 2022 closing rate of 177.131872 Argentinean pesos per US dollar (2021 results - at 102.749214 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 177.131872 102.749214 84.143520 — — — Brazilian real 5.217705 5.580497 5.196694 5.164428 5.368651 5.133082 Canadian dollar 1.353834 1.270792 1.273981 1.297354 1.249693 1.346594 Colombian peso 4 807.99 3 977.14 3 438.52 4 211.36 3 741.19 3 689.50 Chinese yuan 6.898736 6.352382 6.537798 6.661729 6.456753 6.947936 Euro 0.937559 0.882924 0.814930 0.951768 0.841767 0.878101 Mexican peso 19.361452 20.583378 19.948838 20.123646 20.339905 21.182539 Pound sterling 0.831548 0.741903 0.732646 0.811905 0.725564 0.780195 Peruvian nuevo sol 3.820004 3.976006 3.621009 3.845294 3.877055 3.491580 South Korean won 1 260.16 1 188.32 1 088.02 1 286.17 1 139.06 1 185.02 South African rand 16.968472 15.947907 14.686598 16.392270 14.873785 16.213180 |
INTANGIBLE ASSETS | (F) 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 N). 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 generally over to 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 N). 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 | (G) 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-meas urem |
GOODWILL | (H) 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 bu sin 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 | (I) PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is measured at cost less accumulated depreciation and impairment losses (refer to accounting policy N). 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 - 10 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 | (J) 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 | (K) 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 | (L) 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 withi n 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 | (M) 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 | (N) IMPAIRMENT The carrying amounts of property, plant and equipment, goodwill and intangible assets are reviewed at each reporting 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 | (O) 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 incorporate 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 | (P) 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. The difference between the carrying value of the treasury shares issued to employees and their fair value is recognized in retained earnings. 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 | (Q) 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. |
PENSION AND SIMILAR OBLIGATIONS | (R) PENSION AND SIMILAR OBLIGATIONS 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 statement of financial position 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. Bonuses Bonuses received by company employees and management are based on pre-defined |
SHARE-BASED PAYMENTS | (S) 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 a binomial Hull model, modified to reflect the IFRS 2 requirement that assumptions about forfeiture before the end of the vesting period cannot impact the fair value of the option. The fair value of the options granted is expensed over the vesting period based on the expected number of options that will vest. When the options are exercised, equity is increased by the amount of the proceeds received. |
INTEREST-BEARING LOANS AND BORROWINGS | (T) 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 | (U) 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 | (V) 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 reporting 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. The company presents income tax provisions in income tax liabilities. Assets and liabilities for uncertain tax treatments are presented as current tax assets/liabilities or deferred tax assets/liabilities. |
INCOME RECOGNITION | (W) 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 be received 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). Government grants A government grant is recognized in the statement of financial position 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 Y). 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 | (X) 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 Y). 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 T). 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 F). 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 | (Y) 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 instrument-by-instrument non-monetary • Financial assets and liabilities at FVPL 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. Derecognition A financial asset is primarily derecognized (i.e., removed from the Group’s consolidated statement of financial position) when the rights to receive cash flows from the asset have expired or the Group has transferred its rights to receive cash flows from the asset. A financial liability is derecognized when the obligation under the liability is discharged, cancelled or expires. |
SEGMENT REPORTING | (Z) 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 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 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 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 | (AA) 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 | (BB) 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 | (CC) 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 2022. A number of amendments to standards are effective for annual periods beginning after 1 January 2023 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, 2022 | |
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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 177.131872 102.749214 84.143520 — — — Brazilian real 5.217705 5.580497 5.196694 5.164428 5.368651 5.133082 Canadian dollar 1.353834 1.270792 1.273981 1.297354 1.249693 1.346594 Colombian peso 4 807.99 3 977.14 3 438.52 4 211.36 3 741.19 3 689.50 Chinese yuan 6.898736 6.352382 6.537798 6.661729 6.456753 6.947936 Euro 0.937559 0.882924 0.814930 0.951768 0.841767 0.878101 Mexican peso 19.361452 20.583378 19.948838 20.123646 20.339905 21.182539 Pound sterling 0.831548 0.741903 0.732646 0.811905 0.725564 0.780195 Peruvian nuevo sol 3.820004 3.976006 3.621009 3.845294 3.877055 3.491580 South Korean won 1 260.16 1 188.32 1 088.02 1 286.17 1 139.06 1 185.02 South African rand 16.968472 15.947907 14.686598 16.392270 14.873785 16.213180 |
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 - 10 years |
Segment reporting (Tables)
Segment reporting (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Segment Reporting | All figures in the tables below are stated in million US dollar, except volume (million hls). North America Middle Americas South America EMEA Asia Pacific 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 Volume 103 107 107 148 141 121 164 157 144 91 87 76 89 88 82 Revenue 16 566 16 257 15 622 14 180 12 541 10 032 11 599 9 494 8 092 8 120 8 032 6 835 6 532 6 848 5 648 Profit from operations 5 220 5 110 5 147 5 219 4 888 3 885 2 620 2 305 2 350 1 478 1 472 (1 722 ) 1 431 1 569 1 062 Net finance income/(cost) Share of results of associates Exceptional share of results of associates Income tax expense Profit from continuing operations Profit from discontinued operations Profit Segment assets (non-current) 63 379 63 722 63 765 66 262 67 516 72 331 14 297 12 917 12 348 30 918 34 098 35 578 12 397 13 453 13 845 Gross capex 695 868 646 1 319 1 307 829 1 001 1 154 727 1 011 1 051 768 496 605 508 FTE 20 040 19 691 20 281 52 355 51 969 48 751 42 028 42 209 40 630 21 306 22 215 22 357 24 331 26 095 26 510 Global Export and Holding AB InBev Worldwide 2022 2021 2020 2022 2021 2020 Volume 1 2 1 595 582 531 Revenue 790 1 133 652 57 786 54 304 46 881 Profit from operations (1451 ) (1 520 ) (1 103 ) 14 517 13 824 9 620 Net finance income/(cost) (4 148 ) (5 609 ) (7 697 ) Share of results of associates 299 248 156 Exceptional share of results of associates (1 143 ) — — Income tax expense (1 928 ) (2 350 ) (1 932 ) Profit from continuing operations 7 597 6 114 147 Profit from discontinued operations — — 2 055 Profit 7 597 6 114 2 202 Segment assets (non-current) 2 505 1 973 2 024 189 757 193 678 199 891 Gross capex 638 655 303 5 160 5 640 3 781 FTE 6 572 7 160 5 166 166 632 169 339 163 695 |
Other operating income_(expen_2
Other operating income/(expenses) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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Summary of Other Operating Income/(Expenses) | Million US dollar 2022 2021 2020 Brazilian tax credits 201 226 481 Government grants 311 322 227 Net gain on disposal of property, plant and equipment, intangible assets and assets held for sale 82 65 56 License income 27 25 22 Net rental and other operating income 220 167 58 Other operating income/(expenses) 841 805 845 |
Exceptional items (Tables)
Exceptional items (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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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 2022 2021 2020 COVID-19 (18 ) (105 ) (182 ) Restructuring (110 ) (172 ) (157 ) Business and asset disposal (including impairment losses) (71 ) (247 ) (239 ) AB InBev Efes related costs (51 ) — — Acquisition costs business combinations (1 ) (17 ) (25 ) Zenzele Kabili costs — (72 ) — Impairment of goodwill — — (2 500 ) Impact on profit from operations (251 ) (614 ) (3 103 ) Exceptional net finance income/(cost) 498 (806 ) (1 738 ) Exceptional share of results of associates (1 143 ) — — Exceptional taxes 399 346 155 Exceptional non-controlling 13 20 228 Gain on divestiture of Australia (discontinued operations) — — 1 919 Net impact on profit (484 ) (1 054 ) (2 538 ) |
Payroll and related benefits (T
Payroll and related benefits (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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Summary of Payroll and Related Benefits | Million US dollar 2022 2021 2020 Wages and salaries (4 621 ) (4 734 ) (4 124 ) Social security contributions (749 ) (670 ) (582 ) Other personnel cost (687 ) (706 ) (637 ) Share-based payment expense (448 ) (510 ) (169 ) Pension expense for defined benefit plans (154 ) (176 ) (218 ) Pension expense for defined contribution plans (164 ) (147 ) (91 ) Payroll and related benefits (6 822 ) (6 944 ) (5 821 ) |
Summary of Number of Full Time Equivalents | The number of full-time equivalents can be split as follows: 2022 2021 2020 AB InBev NV/SA (parent company) 241 214 204 Other subsidiaries 166 391 169 125 163 491 Total number of FTE 166 632 169 339 163 695 |
Additional information on ope_2
Additional information on operating expenses by nature (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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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 2022 consolidated income statement: Million US dollar Depreciation and Amortization and Depreciation and impairment of right- of-use Impairment of Cost of sales 3 008 78 36 — Distribution expenses 162 13 233 — Sales and marketing expenses 298 152 236 — Administrative expenses 299 416 124 — Other operating expenses 19 — — — Exceptional items — — — 4 Depreciation, amortization and impairment 3 786 659 629 4 Depreciation, amortization and impairment charges are included in the following line items of the 2021 consolidated income statement: Million US dollar Depreciation and Amortization and Depreciation and impairment of right- of-use Impairment of Cost of sales 2 782 91 39 — Distribution expenses 136 10 176 — Sales and marketing expenses 319 223 249 — Administrative expenses 306 327 110 — Other operating expenses 3 — — — Exceptional items — — — 281 Depreciation, amortization and impairment 3 546 651 574 281 Depreciation, amortization and impairment charges are included in the following line items of the 2020 consolidated income statement: Million US dollar (restated) Depreciation and Amortization and Depreciation and impairment of right- of-use Impairment of Cost of sales 2 599 91 42 — 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 3 392 708 499 2 733 |
Finance cost and income (Tables
Finance cost and income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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Summary of Finance Cost and Income Included in Income Statement | Finance cost and income included in the income statement are as follows: 2022 2021¹ 2020¹ Million US dollar Finance Finance Net Finance Finance Net Finance Finance Net Interest income/(expense) (3 588 ) 294 (3 294 ) (3 674 ) 113 (3 560 ) (4 004 ) 150 (3 854 ) Net interest on net defined benefit liabilities (73 ) — (73 ) (73 ) — (73 ) (82 ) — (82 ) Accretion expense (782 ) — (782 ) (593 ) — (593 ) (564 ) — (564 ) Mark-to-market — 331 331 (23 ) — (23 ) (1 211 ) — (1 211 ) Net interest income on Brazilian tax credits — 168 168 — 118 118 — 315 315 Other financial results (1 349 ) 352 (997 ) (871 ) 200 (671 ) (740 ) 177 (563 ) Finance income/(cost) excluding exceptional items (5 792 ) 1 146 (4 646 ) (5 234 ) 431 (4 803 ) (6 601 ) 642 (5 959 ) Exceptional finance income/(cost) (255 ) 753 498 (806 ) — (806 ) (1 818 ) 80 (1 738 ) Finance income/(cost) (6 047 ) 1 898 (4 148 ) (6 040 ) 431 (5 609 ) (8 419 ) 722 (7 697 ) |
Summary of Other Financial | Other financial results for 2022, 2021 and 2020 include: 2022 2021¹ 2020¹ Million US dollar Finance Finance Net Finance Finance Net Finance Finance Net Net foreign exchange gains/(losses) (363 ) — (363 ) (101 ) — (101 ) — 43 43 Net gains/(losses) on hedging instruments (747 ) — (747 ) (562 ) — (562 ) (502 ) — (502 ) Hyperinflation monetary adjustments — 286 286 — 152 152 — 76 76 Other financial income/(cost), including bank fees and taxes (239 ) 66 (173 ) (208 ) 48 (160 ) (238 ) 58 (180 ) Other financial results (1 349 ) 352 (997 ) (871 ) 200 (671 ) (740 ) 177 (563 ) 1 Amended to conform to 2022 presentation. |
Summary of Interest Income | The interest income stems from the following financial assets: Million US dollar 2022 2021 2020 Cash and cash equivalents 235 85 103 Investments in debt securities held for trading 39 16 1 Other loans and receivables 21 12 46 Total 294 113 150 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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Summary of Income Taxes | Income taxes recognized in the income statement can be detailed as follows: Million US dollar 2022 2021 1 2020 1 Current year (2 785 ) (2 857 ) (2 082 ) (Underprovided)/overprovided in prior years 157 159 119 Current tax expense (2 628 ) (2 698 ) (1 963 ) Origination and reversal of temporary differences 829 632 355 Recognition/(de-recognition) (128 ) (284 ) (324 ) Deferred tax (expense)/income 701 348 31 Total income tax expense in the income statement (1 928 ) (2 350 ) (1 932 ) |
Summary of Reconciliation of Effective Tax Rate with Aggregated Weighted Nominal Tax Rate | The reconciliation of the effective tax rate with the aggregated weighted n omi Million US dollar 2022 2021¹ 2020¹ Profit/(loss) before tax 9 524 8 463 2 080 Deduct share of results of associates 299 248 156 Deduct exceptional share of results of associates (1 143 ) — — Profit before tax and before share of results of associates 10 369 8 215 1 924 Adjustments to the tax basis Government incentives (713 ) (543 ) (428 ) Non-deductible/(non-taxable) mark-to-market (606 ) 48 2 219 Non-deductible — — 2 500 Other expenses not deductible for tax purposes 1 590 1 979 1 512 Other non-taxable (576 ) (476 ) (250 ) Adjusted tax basis 10 065 9 223 7 477 Aggregate weighted nominal tax rate 26.7 % 26.7 % 27.7 % Tax at aggregated nominal tax rate (2 691 ) (2 463 ) (2 069 ) Adjustments on tax expense Recognition/(de-recognition) (128 ) (284 ) (324 ) (Underprovided)/overprovided in prior years 157 159 119 Deductions from interest on equity 790 469 431 Deductions from goodwill and other tax deductions 473 226 234 Change in tax rate 48 (147 ) 61 Withholding taxes (436 ) (485 ) (423 ) Other tax adjustments (140 ) 175 39 Total tax expense (1 928 ) (2 350 ) (1 932 ) Effective tax rate 18.6 % 28.6 % 100.4 % 1 Amended to conform to 2022 prese ntatio |
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 2022 2021 2020 Re-measurements (126 ) (123 ) 58 Exchange differences, cash flow and net investment hedges (51 ) (45 ) 304 Income tax (losses)/gains (177 ) (167 ) 361 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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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 2022 31 December 2021 Property, plant and equipment owned 24 245 24 459 Property, plant and equipment leased (right-of-use 2 426 2 219 Total property, plant and equipment 26 671 26 678 |
Summary of Property, Plant and Equipment | 31 December 2022 31 December Million US dollar Land and Plant and Under Total Total Acquisition cost Balance at end of previous year 12 374 35 906 2 462 50 742 48 993 Effect of movements in foreign exchange (208 ) (729 ) (46 ) (983 ) (1 616 ) Acquisitions 27 1 340 2 912 4 279 4 739 Acquisitions through business combinations — — — — 2 Disposals through sale and derecognition (154 ) (1 667 ) (1 ) (1 822 ) (1 301 ) Disposals through the sale of subsidiaries (1 ) (12 ) — (13 ) (51 ) Transfer (to)/from other asset categories and other movements¹ 554 2 634 (3 122 ) 66 (23 ) Balance at end of the period 12 591 37 473 2 205 52 269 50 742 Depreciation and impairment losses Balance at end of previous year (4 292 ) (21 992 ) — (26 284 ) (24 802 ) Effect of movements in foreign exchange 82 425 — 507 813 Depreciation (423 ) (3 106 ) — (3 530 ) (3 384 ) Disposals through sale and derecognition 66 1 565 — 1 631 1 168 Disposals through the sale of subsidiaries — 8 — 8 46 Impairment losses (3 ) (168 ) — (172 ) (182 ) Transfer to/(from) other asset categories and other movements 1 (14 ) (172 ) — (186 ) 57 Balance at end of the period (4 584 ) (23 440 ) — (28 024 ) (26 284 ) Carrying amount at 31 December 2021 8 082 13 915 2 462 24 459 24 459 at 31 December 2022 8 007 14 033 2 205 24 245 — |
Summary of Property, Plant and Equipment Leased (right- of- use assets) | Property, plant and equipment leased by the company (right-of-use 2022 Million US dollar Land and Machinery, Total Net carrying amount at 31 December 1 640 786 2 426 Depreciation for the period ended 31 December (398 ) (230 ) (628 ) 2021 Million US dollar Land and Machinery, Total Net carrying amount at 31 December 1 696 523 2 219 Depreciation for the year ended 31 December (373 ) (201 ) (574 ) |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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Reconciliation of Goodwill | Million US dollar 31 December 2022 31 December 2021 Acquisition cost Balance at end of previous year 118 461 123 702 Effect of movements in foreign exchange (3 147 ) (5 456 ) Disposals through the sale of subsidiaries (32 ) — Transfers (to)/from other asset categories (68 ) 18 Hyperinflation monetary adjustments 328 196 Balance at end of the period 115 541 118 461 Impairment losses Balance at end of previous year (2 665 ) (2 731 ) Effect of movements in foreign exchange 134 66 Balance at end of the period (2 531 ) (2 665 ) Carrying amount Balance at end of the period 113 010 115 796 |
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 2022 31 December 2021 United States 33 578 33 607 Rest of North America 1 981 2 114 Mexico 12 823 12 062 Colombia 12 692 15 344 Rest of Middle Americas 23 242 22 769 Brazil 3 508 3 280 Rest of South America 1 249 1 173 Europe 2 081 2 244 South Africa 9 551 10 231 Rest of Africa 5 131 5 287 China 3 119 3 387 Rest of Asia Pacific 3 505 3 717 Global Export and Holding Companies 549 582 Total carrying amount of goodwill 113 010 115 796 |
Summary of Weighted Average Cost of Capital | The WACC applied in US dollar nominal terms were as follows: Cash-generating unit 31 December 2022 31 December 2021 Colombia 8 % 6 % Rest of Middle Americas 9 % 10 % South Africa 9 % 8 % Rest of Africa 15 % 10 % Rest of Asia Pacific 7 % 6 % |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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Summary of Intangible Assets | 31 December 2022 31 December Million US dollar Brands Commercial Software Other Total Total Acquisition cost Balance at end of previous year 38 409 2 832 3 437 337 45 015 45 885 Effect of movements in foreign exchange (568 ) (22 ) (114 ) (47 ) (751 ) (1 289 ) Acquisitions and expenditures 11 221 497 249 978 760 Disposals through sale and derecognition (93 ) (1 058 ) (272 ) (15 ) (1 437 ) (98 ) Disposals through the sale of subsidiaries — — — — — (3 ) Transfer (to)/from other asset categories and other movements¹ (19 ) 53 502 (171 ) 365 (240 ) Balance at end of period 37 741 2 026 4 050 354 44 170 45 015 Amortization and impairment losses Balance at end of previous year (89 ) (2 082 ) (2 381 ) (33 ) (4 585 ) (4 358 ) Effect of movements in foreign exchange 1 18 77 4 100 192 Amortization — (141 ) (479 ) (27 ) (647 ) (644 ) Impairment — — (3 ) (1 ) (4 ) (176 ) Disposals through sale and derecognition — 1 058 271 10 1 339 73 Disposals through the sale of subsidiaries — — — — — 3 Transfer to/(from) other asset categories and other movements 1 — (100 ) (62 ) (2 ) (164 ) 326 Balance at end of period (88 ) (1 247 ) (2 577 ) (49 ) (3 961 ) (4 585 ) Carrying value at 31 December 2021 38 320 750 1 056 304 40 430 40 430 at 31 December 2022 37 652 779 1 473 305 40 209 |
Summary of Carrying Amount of Intangible Assets with Indefinite Useful Lives | Million US dollar Cash-generating unit 2022 2021 United States 21 979 22 129 Rest of North America 40 42 Mexico 3 166 2 977 Colombia 2 374 2 870 Rest of Middle Americas 3 531 3 432 Rest of South America 767 724 Europe 423 452 South Africa 2 847 3 029 Rest of Africa 1 072 1 112 China 405 440 Rest of Asia Pacific 1 048 1 113 Total carrying amount of intangible assets with indefinite useful lives 37 652 38 320 |
Investments in associates (Tabl
Investments in associates (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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: 2022 2021 Million US dollar AB InBev Castel Anadolu AB InBev Castel Anadolu Balance at 1 January 1 143 3 400 201 1 135 3 566 391 Effect of movements in foreign exchange — (172 ) (57 ) — (246 ) (159 ) Dividends received — (87 ) (14 ) — (36 ) (67 ) Share of results of associates — 152 41 7 116 35 Exceptional share of results of associates (1 143 ) — — — — — Balance at 31 December — 3 293 171 1 143 3 400 201 |
Summarized Financial Information of the Company's Material Associates | Summarized financial information of the company’s material associates is as follows: 2022 2021 Million US dollar Castel Anadolu AB InBev Castel Anadolu Current assets 3 399 2 973 385 3 016 1 500 Non-current 3 679 4 654 624 3 923 3 157 Current liabilities (1 803 ) (2 581 ) (693 ) (1 774 ) (1 259 ) Non-current (439 ) (1 767 ) (42 ) (499 ) (1 218 ) Non-controlling (564 ) (1 789 ) — (543 ) (1 128 ) Net assets 1 4 272 1 490 274 4 124 1 053 Revenue 4 942 4 222 1 393 5 017 3 781 Profit (loss) 767 287 1 741 275 Other comprehensive income (loss) 74 1 503 — (295 ) 241 Total comprehensive income (loss) 841 1 790 1 447 516 |
Deferred tax assets and liabi_2
Deferred tax assets and liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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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: 2022 2021 Million US dollar Assets Liabilities Net Assets Liabilities Net Property, plant and equipment 191 (2 071 ) (1 880 ) 91 (2 113 ) (2 023 ) Intangible assets 89 (9 582 ) (9 492 ) 60 (9 796 ) (9 736 ) Inventories 102 (90 ) 12 88 (66 ) 22 Trade and other receivables 51 — 51 48 — 48 Interest-bearing loans and borrowings 852 (657 ) 195 905 (628 ) 277 Employee benefits 433 (9 ) 423 577 (8 ) 569 Provisions 533 (56 ) 477 511 (19 ) 492 Derivatives 51 (61 ) (10 ) 11 (118 ) (107 ) Other items 532 (1 166 ) (634 ) 407 (1 198 ) (792 ) Loss carry forwards 1 341 — 1 341 1 015 — 1 015 Gross deferred tax assets/(liabilities) 4 175 (13 693 ) (9 518 ) 3 713 (13 947 ) (10 235 ) Netting by taxable entity (1 874 ) 1 874 — (1 743 ) 1 743 — Net deferred tax assets/(liabilities) 2 300 (11 817 ) (9 518 ) 1 969 (12 204 ) (10 235 ) |
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 2022 2021 2020 Balance at 1 January (10 235 ) (10 607 ) (11 105 ) Recognized in profit or loss 701 348 32 Recognized in other comprehensive income (177 ) ( 166 ) 361 Other movements and effect of changes in foreign exchange rates 193 190 105 Balance at 31 December (9 518 ) (10 235 ) (10 607 ) |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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Summary of Inventories | Million US dollar 31 December 2022 31 December 2021 Prepayments 87 115 Raw materials and consumables 3 851 3 072 Work in progress 529 451 Finished goods 1 837 1 537 Goods purchased for resale 308 224 Inventories 6 612 5 399 Inventories other than work in progress Inventories stated at net realizable value 395 368 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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Schedule of Non-Current Trade and Other Receivables | Million US dollar 31 December 2022 31 December 2021 Cash deposits for guarantees 189 168 Loans to customers 10 17 Tax receivable, other than income tax 137 116 Brazilian tax credits and interest receivables 1 149 960 Trade and other receivables 298 319 Non-current 1 782 1 580 Trade receivables and accrued income 3 637 3 465 Interest receivables 67 18 Tax receivable, other than income tax 444 593 Loans to customers 71 99 Prepaid expenses 410 350 Other receivables 702 521 Current trade and other receivables 5 330 5 046 |
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 30 Between 60 More than 90 Trade receivables and accrued income 3 637 3 418 151 41 24 4 Loans to customers 81 78 1 1 1 — Interest receivable 67 67 — — — — Other receivables 702 684 11 4 3 — 4 487 4 247 162 46 28 4 Net carrying Of which: Of which not impaired as of the reporting date and past due Less than 30 Between 30 Between 60 More than 90 Trade receivables and accrued income 3 465 3 223 164 62 11 5 Loans to customers 117 83 2 2 31 — Interest receivable 18 18 — — — — Other receivables 521 513 2 1 2 3 4 120 3 836 167 65 44 8 |
Cash and cash equivalents and_2
Cash and cash equivalents and investment securities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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Schedule of Cash and Cash Equivalents | Million US dollar 31 December 2022 31 December 2021 Short-term bank deposits 4 685 6 542 Cash and bank accounts 5 288 4 505 Treasury Bills — 1 050 Cash and cash equivalents 9 973 12 097 Bank overdrafts (83 ) (53 ) Cash and cash equivalents in the statement of cash flows 9 890 12 043 |
Summary Of Investments In Short term Debt Securities | Million US dollar 31 December 2022 31 December 2021 Investment in unquoted companies 149 139 Investment on debt securities 26 22 Non-current 175 161 Investment on debt securities 97 374 Current investments 97 374 |
Changes in equity and earning_2
Changes in equity and earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2022: 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 1 737 Restricted shares 282 Treasury shares Result on the use of Treasury shares Million shares Million US dollar Million US dollar At the end of the previous year 38.2 (3 994 ) (4 366 ) Changes during the period (2.8 ) 289 (193 ) At the end of the current period 35.5 (3 706 ) (4 559 ) |
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- Total OCI As per 1 January 2022 (33 554 ) 481 (1 504 ) (34 577 ) Other comprehensive income/(loss) Exchange differences on translation of foreign operations (gains/(losses)) (1 123 ) — — (1 123 ) Cash flow hedges — (336 ) — (336 ) Re-measurements — — 483 483 Other comprehensive income/(loss) (1 123 ) (336 ) 483 (976 ) As per 31 December 2022 (34 677 ) 145 (1 021 ) (35 553 ) The increase in translation reserves is primarily related to the combined effect of the weakening of the closing rates of the Argentinean peso, the Chinese yuan, the Colombian peso and the South Africa rand, partially offset by the weakening of the closing rate of the Euro, which resulted in a net foreign exchange translation adjustment o f 1 123m US dollar as of 31 December 2022 (decrease of equity). Million US dollar Translation Hedging Post- Total OCI As per 1 January 2021 (29 234 ) 376 (1 983 ) (30 841 ) Other comprehensive income/(loss) Exchange differences on translation of foreign operations (gains/(losses)) (4 320 ) — — (4 320 ) Cash flow hedges — 105 — 105 Re-measurements — — 479 479 Other comprehensive income/(loss) (4 320 ) 105 479 (3 736 ) As per 31 December 2021 (33 554 ) 481 (1 504 ) (34 577 ) Million US dollar Translation Hedging Post- 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 645 (21 ) — 624 Re-measurements — — (243 ) (243 ) Other comprehensive income/(loss) (9 298 ) (21 ) (243 ) (9 562 ) As per 31 December 2020 (29 234 ) 376 (1 983 ) (30 841 ) |
Summary of Basic and Diluted Earnings Per Share | The calculation of basic earnings per share for 2022 is based on the profit attributable to equity holders of AB InBev of Million shares 2022 2021 2020 Issued ordinary and restricted shares at 1 January, net of treasury shares 1 981 1 972 1 959 Effect of stock lending 30 30 30 Effect of delivery of treasury shares 2 4 9 Weighted average number of ordinary and restricted shares at 31 December 2 013 2 007 1 998 The calculation of diluted earnings per share for 2022 is based on the profit attributable to equity holders of AB InBev of Million shares 2022 2021 2020 Weighted average number of ordinary and restricted shares at 31 December 2 013 2 007 1 998 Effect of share options, warrants and restricted stock units 37 38 39 Weighted average number of ordinary and restricted shares (diluted) at 31 December 2 050 2 045 2 037 The calculation of earnings per share before exceptional items is based on the profit before exceptional items, attributable to equity holders of AB InBev. The calculation of the Underlying EPS is based on the profit before exceptional items, mark-to-market Million US dollar 2022 2021¹ 2020¹ Profit attributable to equity holders of AB InBev 5 969 4 670 1 405 Net impact of exceptional items on profit (refer to Note 8) 484 1 054 4 458 Profit from discontinued operations — — (2 055 ) Profit before exceptional items, attributable to equity holders of AB InBev 6 454 5 723 3 807 Mark-to-market (331 ) 23 1 211 Hyperinflation impacts (30 ) 28 4 Underlying profit 6 093 5 774 5 022 |
Summary of Calculation of EPS | The table below sets out the EPS calculation: Million US dollar 2022 2021 2020 Profit attributable to equity holders of AB InBev 5 969 4 670 1 405 Weighted average number of ordinary and restricted shares 2 013 2 007 1 998 Basic EPS from continuing and discontinued operations 2.97 2.33 0.70 Profit/(loss) from continuing operations attributable to equity holders of AB InBev 5 969 4 670 (650 ) Weighted average number of ordinary and restricted shares 2 013 2 007 1 998 Basic EPS from continuing operations 2.97 2.33 (0.33 ) Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev 6 454 5 723 3 807 Weighted average number of ordinary and restricted shares 2 013 2 007 1 998 Basic EPS from continuing operations before exceptional items 3.21 2.85 1.91 Underlying profit 6 093 5 774 5 022 Weighted average number of ordinary and restricted shares 2 013 2 007 1 998 Underlying EPS 3.03 2.88 2.51 Profit attributable to equity holders of AB InBev 5 969 4 670 1 405 Weighted average number of ordinary and restricted shares (diluted) 2 050 2 045 2 037 Diluted EPS from continuing and discontinued operations 2.91 2.28 0.69 Profit/(loss) from continuing operations attributable to equity holders of AB InBev 5 969 4 670 (650 ) Weighted average number of ordinary and restricted shares (diluted) 2 050 2 045 1 998 Diluted EPS from continuing operations 2.91 2.28 (0.33 ) Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev 6 454 5 723 3 807 Weighted average number of ordinary and restricted shares (diluted) 2 050 2 045 2 037 Diluted EPS from continuing operations before exceptional items 3.15 2.80 1.87 |
Interest-bearing loans and bo_2
Interest-bearing loans and borrowings (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Interest-bearing Loans and Borrowings | Million US dollar 31 December 2022 31 December 2021 Unsecured bond issues 76 798 85 433 Lease liabilities 1 963 1 830 Unsecured other loans 95 31 Secured bank loans 24 75 Non-current 78 880 87 369 Lease liabilities 529 447 Secured bank loans 369 553 Unsecured bank loans 100 106 Unsecured other loans 30 9 Unsecured bond issues — 293 Current interest-bearing loans and borrowings 1 029 1 408 Interest-bearing loans and borrowings 79 909 88 777 |
Summary of Tender Offers | Date of redemption Issuer Title of series of notes redeemed Currency Original principal (in million) Principal amount (in million) 9 February 2022 ABIFI 3.650% Notes due 2026 USD 1 633 1 633 1 March 2022 ABIFI 4.915% Notes due 2046 USD 1 470 1 470 |
Summary of total principal amount repurchased in the tender offer | The total principal amount repurchased in the tender offers is set out in the table below: Date of redemption Issuer Title of series of notes partially repurchased Currency Original principal (in million) Principal amount (in million) Principal 2 December 2022 ABISA 2.850% GBP 900 489 411 2 December 2022 ABISA 2.250% Notes due 2029 GBP 700 363 337 2 December 2022 ABIFI 4.000% Notes due 2043 USD 750 346 404 2 December 2022 ABIWW 3.750% Notes due 2042 USD 1 000 529 471 2 December 2022 ABIWW 4.600% Notes due 2060 USD 1 000 503 497 2 December 2022 ABIWW 4.500% Notes due 2050 USD 2 250 683 1 567 2 December 2022 ABIWW 4.750% Notes due 2058 USD 1 500 519 981 2 December 2022 ABIWW 4.600% Notes due 2048 USD 2 500 321 2 179 |
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 2022 31 December 2021 Non-current 78 880 87 369 Current interest-bearing loans and borrowings 1 029 1 408 Interest-bearing loans and borrowings 79 909 88 777 Bank overdrafts 83 53 Cash and cash equivalents (9 973 ) (12 097 ) Interest bearing loans granted and other deposits (included within Trade and other receivables) (183 ) (175 ) Debt securities (included within Investment securities) (123 ) (396 ) Net debt 69 713 76 162 |
Summary of Changes in the Company's Liabilities Arising from Financing Activities | Million US dollar Long-term debt, net of Short-term debt and current portion of long-term debt Balance at 1 January 2022 87 369 1 408 Proceeds from borrowings 74 17 Payments on borrowings (6 698 ) (567 ) Capitalization / (payment) of lease liabilities 794 (519 ) Amortized cost 63 — Unrealized foreign exchange effects (1 776 ) (6 ) Current portion of long-term debt (617 ) 617 (Gain)/Loss on bond redemption and other movements (329 ) 79 Balance at 31 December 2022 78 880 1 029 Million US dollar Long-term debt, net of Short-term debt and current portion of long-term debt Balance at 1 January 2021 95 478 3 081 Proceeds from borrowings 148 306 Payments on borrowings (6 735 ) (2 230 ) Capitalization / (payment) of lease liabilities 697 (547 ) Amortized cost 64 — Unrealized foreign exchange effects (2 149 ) (88 ) Current portion of long-term debt (875 ) 875 (Gain)/Loss on bond redemption and other movements 741 10 Balance at 31 December 2021 87 369 1 408 Million US dollar Long-term debt, net of Short-term debt and current portion of long-term debt 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 (Gain)/Loss on bond redemption and other movements 1 042 77 Balance at 31 December 2020 95 478 3 081 |
Pension and similar obligatio_2
Pension and similar obligations (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2022 and 2021: Million US dollar 2022 2021 Present value of funded obligations (4 604 ) (6 791 ) Fair value of plan assets 3 807 5 381 Present value of net obligations for funded plans (797 ) (1 410 ) Present value of unfunded obligations (587 ) (687 ) Present value of net obligations (1 384 ) (2 097 ) Unrecognized asset (43 ) (32 ) Net liability (1 427 ) (2 129 ) Other long term employee benefits (96 ) (127 ) Total employee benefits (1 523 ) (2 256 ) Employee benefits amounts in the statement of financial position: Liabilities (1 534 ) (2 261 ) Assets 11 5 Net liability (1 523 ) (2 256 ) |
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 2022 2021 2020 Defined benefit obligation at 1 January (7 478 ) (8 496 ) (8 143 ) Current service costs (69 ) (80 ) (72 ) Interest cost (229 ) (212 ) (250 ) Past service gain/(cost) — (5 ) 16 Settlement s 114 176 153 Benefits paid 549 553 519 Contribution by plan participants (2 ) (3 ) (2 ) Actuarial gains/(losses) – demographic assumptions (2 ) (41 ) 20 Actuarial gains/(losses) – financial assumptions 1 854 460 (690 ) Experience adjustments (116 ) 16 (12 ) Exchange differences 243 154 (35 ) Transfers and other movements (55 ) — — Defined benefit obligation at 31 December (5 191 ) (7 478 ) (8 496 ) The changes in the fair value of plan assets are as follows: Million US dollar 2022 2021 2020 Fair value of plan assets at 1 January 5 381 5 649 5 442 Interest income 157 137 168 Administration costs (17 ) (19 ) (19 ) Return on plan assets exceeding interest income (1 084 ) 197 332 Contributions by AB InBev 220 241 394 Contributions by plan participants 2 3 2 Benefits paid net of administration costs (551 ) (553 ) (519 ) Assets distributed on settlements (112 ) (172 ) (146 ) Exchange differences (188 ) (102 ) (9 ) Transfers and other movements (2 ) — 4 Fair value of plan assets at 31 December 3 807 5 381 5 649 |
Summary of Changes in Unrecognized Assets | The changes in the unrecognized asset are as follows: Million US dollar 2022 2021 2020 Irrecoverable surplus impact at 1 January (32 ) (31 ) (74 ) Interest expense (3 ) (2 ) (4 ) Changes excluding amounts included in interest expense (8 ) 1 47 Irrecoverable surplus impact at 31 December (43 ) (32 ) (31 ) |
Summary of Employee Benefit Expense Recognized in Income Statement | The expense recognized in the income statement with regards to defined benefit plans can be detailed as follows: Million US dollar 2022 2021 2020 Current service costs (66 ) (80 ) (72 ) Administration costs (17 ) (19 ) (19 ) Past service cost due to plan amendments, curtailments or settlements 2 (2 ) 16 (Losses)/gains due to experience and demographic assumption changes — 1 6 Profit from operations (81 ) (100 ) (69 ) Net finance cost (73 ) (76 ) (87 ) Total employee benefit expense (154 ) (176 ) (156 ) |
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 2022 2021 2020 Cost of sales (25 ) (30 ) (28 ) Distribution expenses (11 ) (11 ) (9 ) Sales and marketing expenses (17 ) (24 ) (18 ) Administrative expenses (28 ) (34 ) (20 ) Other operating (expense)/income — (1 ) (1 ) Exceptional items — — 7 Net finance cost (73 ) (76 ) (87 ) Total employee benefit expense (154 ) (176 ) (156 ) |
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 reporting date are as follows: 2022 United Canada Mexico Brazil United AB InBev Discount rate 5.5 % 5.1 % 9.5 % 10.0 % 4.9 % 5.9 % Price inflation 2.5 % 2.0 % 3.5 % 3.5 % 3.2 % 2.7 % Future salary increases — 1.0 % 4.5%-4.0 % 7.1%-5.3 % — 4.0 % Future pension increases — 2.0 % 3.5 % 3.5 % 3.0 % 2.7 % Medical cost trend rate 7.0%-4.5 % 4.5 % — 7.1 % — 6.8%-6.1 % Life expectation for a 65-year 86 87 85 85 87 85 Life expectation for a 65-year 88 90 88 87 89 88 2021 United Canada Mexico Brazil United AB InBev Discount rate 2.8 % 2.9 % 8.0 % 8.7 % 1.9 % 3.2 % Price inflation 2.5 % 2.0 % 3.5 % 3.3 % 3.6 % 2.7 % Future salary increases — 1.0 % 4.5%-4.0 % 6.9%-5.0 % — 3.7 % Future pension increases — 2.0 % 3.5 % 3.3 % 3.2 % 2.7 % Medical cost trend rate 5.3%-4.5 % 4.5 % — 6.9 % — 5.9%-5.7 % Life expectation for a 65-year 86 87 85 85 87 85 Life expectation for a 65-year 88 90 88 87 89 88 |
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: 2022 Million US dollar Change in Increase in Decrease in Discount rate 0.5 % (271 ) 295 Price inflation 0.5 % 94 (101 ) Future salary increases 0.5 % 20 (19 ) Medical cost trend rate 1 % 25 (22 ) Mortality One year 147 (149 ) |
Summary of Fair Value of Plan Assets | The fair value of plan assets at 31 December consists of the following: 2022 2021 Million US dollar Quoted Unquoted Total Quoted Unquoted Total Government bonds 34 % — 34 % 34 % — 34 % Corporate bonds 30 % — 30 % 34 % — 34 % Equity instruments 24 % — 24 % 24 % — 24 % Property — 7 % 7 % — 4 % 4 % Insurance contracts and others 4 % 1 % 5 % 2 % 2 % 4 % 91 % 8 % 100 % 94 % 6 % 100 % |
Share-based payments (Tables)
Share-based payments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Statement [LineItems] | |
Summary of Number of Options Outstanding | The total number of outstanding AB InBev options developed as follows: Million options 2022 2021 2020 Options outstanding at 1 January 102.7 113.3 88.7 Options issued during the year — — 38.1 Options exercised during the year (1.0 ) (1.3 ) (3.9 ) Options forfeited during the year (14.9 ) (9.2 ) (9.0 ) Options lapsed during the year (3.6 ) — — Options outstanding at the end of December 83.2 102.7 113.3 |
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 2022 2021 2020 Options outstanding at 1 January 64.77 71.22 79.66 Granted during the year — — 53.41 Exercised during the year 16.11 46.30 29.92 Forfeited during the year 94.76 89.56 117.82 Lapsed during the year 88.10 — — Outstanding at the end of December 76.04 64.77 71.22 Exercisable at the end of December 102.19 98.27 99.54 For share options exercised during 2022, the weighted average share price at the date of exercise was euro ( US dollar)¹. |
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 RSUs developed as follows: Million RSUs 2022 2021 2020 RSUs outstanding at 1 January 20.9 19.1 9.9 RSUs issued during the year 9.6 3.9 10.9 RSUs vested during the year (0.5 ) (1.1 ) (0.7 ) RSUs forfeited during the year (1.8 ) (1.1 ) (0.9 ) RSUs outstanding at the end of December 28.2 20.9 19.1 |
Ambev [member] | |
Statement [LineItems] | |
Summary of Number of Options Outstanding | The total number of outstanding Ambev options developed as follows: Million options 2022 2021 2020 Options outstanding at 1 January 113.8 127.3 141.8 Options issued during the year — — — Options exercised during the year — (5.2 ) (5.7 ) Options forfeited during the year (14.0 ) (8.3 ) (8.8 ) Options outstanding at the end of December 99.8 113.8 127.3 |
Summary of Weighted Average Exercise Price of Options | The weighted average exercise price of the Ambev options is as follows: Amounts in US dollar 2022 2021 2020 Options outstanding at 1 January 3.57 3.81 4.60 Granted during the year — — 3.47 Exercised during the year — 2.36 1.60 Forfeited during the year 4.33 4.53 4.42 Outstanding at the end of December 3.72 3.57 3.81 Exercisable at the end of December 3.86 3.79 4.56 |
Ambev [member] | Restricted Stock Units [member] | |
Statement [LineItems] | |
Summary of Number of Outstanding Deferred and Restricted stock Units | The total number of outstanding Ambev RSUs developed as follows: Million RSUs 2022 2021 2020 RSUs outstanding at 1 January 63.8 49.6 31.7 RSUs issued during the year 49.3 20.7 21.3 RSUs vested during the year (0.2 ) (5.0 ) (1.9 ) RSUs forfeited during the year (3.1 ) (1.5 ) (1.5 ) RSUs outstanding at the end of December 109.8 63.8 49.6 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Provisions by Class | Million US dollar Restructuring Disputes Other Total Balance at 1 January 2022 80 420 106 605 Effect of movements in foreign exchange (5 ) (11 ) (2 ) (18 ) Provisions made 37 157 32 226 Provisions used (37 ) (109 ) — (147 ) Provisions reversed — (21 ) — (22 ) Other movements (23 ) 1 (50 ) (73 ) Balance at 31 December 2022 51 436 85 572 Million US dollar Restructuring Disputes Other Total Balance at 1 January 2021 104 489 170 763 Effect of movements in foreign exchange (2 ) (20 ) (4 ) (25 ) Provisions made 63 132 9 203 Provisions used (73 ) (129 ) (11 ) (213 ) Provisions reversed (13 ) (35 ) (1 ) (48 ) Other movements 1 (18 ) (58 ) (75 ) Balance at 31 December 2021 80 420 106 605 |
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 Due within one year Due after one year Total Restructuring 33 18 51 Indirect taxes 10 82 93 Labor 30 105 136 Commercial 12 54 66 Excise duties 2 21 23 Other disputes 26 92 118 Disputes 81 355 436 Other provisions 63 22 85 Total provisions 176 396 572 |
Trade and other payables (Table
Trade and other payables (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Trade and Other Payables | Million US dollar 31 December 2022 31 December 2021 Indirect taxes payable 174 194 Trade payables 176 51 Deferred consideration on acquisitions 464 662 Other payables 46 100 Non-current 859 1 008 Trade payables and accrued expenses 18 589 17 810 Payroll and social security payables 1 520 1 716 Indirect taxes payable 2 768 2 457 Interest payable 1 428 1 501 Consigned packaging 1 012 1 050 Dividends payable 356 355 Deferred consideration on acquisitions 313 191 Other payables and deferred income 362 353 Current trade and other payables 26 349 25 434 |
Risks arising from financial _2
Risks arising from financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Financial Assets And Financial Liabilities | Set out below is an overview of financial assets and liabilities held by the company as at the dates indicated: 31 December 2022 31 December 2021¹ At fair At fair value At fair value At fair At through value At through value amortized profit or through amortized profit or through Million US dollar cost loss OCI Total cost loss OCI Total Cash and cash equivalents 9 973 — — 9 973 12 097 — — 12 097 Trade and other receivables 4 973 — — 4 973 4 607 — — 4 607 Investment securities 25 97 149 272 22 374 139 535 Interest rate swaps — — — — — 37 — 37 Cross currency interest rate swaps — — 63 63 — 52 60 112 Foreign exchange forwards — 41 182 223 — 82 156 238 Foreign currency futures — — 4 4 — — — — Commodities — — 101 101 — — 282 282 Financial assets 14 971 139 498 15 608 16 726 546 637 17 908 Non-current 522 15 193 730 526 25 162 712 Current 14 450 124 305 14 878 16 200 521 475 17 196 Trade and other payables 21 983 762 — 22 746 21 242 832 — 22 074 Non-current 78 880 — — 78 880 87 369 — — 87 369 Current interest-bearing loans and borrowings 1 029 — — 1 029 1 408 — — 1 408 Bank overdrafts 83 — — 83 53 — — 53 Equity swaps — 4 763 — 4 763 — 5 412 — 5 412 Cross currency interest rate swaps — 16 171 187 — 174 95 270 Foreign exchange forwards — 20 245 265 — 24 105 129 Foreign currency futures — — — — — — 37 37 Commodities — — 271 271 — — 35 35 Interest rate swaps — 3 2 5 — — 3 3 Financial liabilities 101 975 5 565 689 108 229 110 073 6 443 275 116 790 Non-current 79 108 473 168 79 749 87 531 678 73 88 282 Current 22 867 5 092 521 28 480 22 541 5 764 202 28 508 1 Amended to conform to 2022 presentation. |
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 2022 31 December 2021 < 1 1-2 2-3 3-5 > 5 < 1 1-2 2-3 3-5 > 5 Million US dollar year years years years years year years years years years Foreign currency Foreign exchange forwards 11 445 479 — — — 12 599 29 — — — Foreign currency futures 503 — — — — 1 617 — — — — Interest rate Interest rate swaps 1 000 — — — — 1 500 1 000 — — — Cross currency interest rate swaps 900 1 923 1 834 2 608 560 4 614 1 400 1 173 1 573 1 453 Commodities Aluminum swaps 2 161 4 — — — 1 241 — — — — Other commodity derivatives 1 160 22 — — — 1 034 — — — — Equity Equity derivatives 10 800 — — — — 11 469 — — — — |
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 2022 31 December 2021 Total Total Open Total Total Open Million US dollar exposure hedges position exposure hedges position Euro/Mexican peso (108 ) 100 (8 ) (112 ) 111 (1 ) Euro/Pound sterling (136 ) 112 (24 ) (124 ) 112 (12 ) Euro/South African rand (67 ) 31 (37 ) (79 ) 75 (4 ) Euro/US dollar (38 ) 58 20 (123 ) 100 (23 ) Mexican peso/Euro (269 ) 268 (2 ) (254 ) 231 (23 ) US dollar/Argentinian peso (702 ) 206 (496 ) (661 ) 674 13 US dollar/Bolivian boliviano (74 ) 76 1 (80 ) 75 (5 ) US dollar/Brazilian real (1 955 ) 1 789 (166 ) (1 846 ) 1 618 (228 ) US dollar/Canadian dollar (310 ) 249 (61 ) (304 ) 253 (51 ) US dollar/Chilean peso (135 ) 129 (6 ) (171 ) 162 (9 ) US dollar/Chinese yuan (125 ) 113 (12 ) (123 ) 116 (7 ) US dollar/Colombian peso (615 ) 559 (56 ) (476 ) 434 (42 ) US dollar/Euro (134 ) 111 (23 ) (103 ) 96 (7 ) US dollar/Mexican peso (1 442 ) 1 436 (6 ) (1 236 ) 1 168 (68 ) US dollar/Paraguayan guarani (144 ) 135 (8 ) (153 ) 139 (14 ) US dollar/Peruvian nuevo sol (264 ) 276 13 (292 ) 278 (14 ) US dollar/South African rand (196 ) 121 (75 ) (196 ) 148 (48 ) US dollar/South Korean won (121 ) 110 (12 ) (114 ) 79 (35 ) Others (326 ) 197 (129 ) (424 ) 313 (111 ) |
Summary of Foreign Exchange Results Recognized on Unhedged and Hedged Exposures | Foreign exchange results recognized on hedged and unhedged exposures are as follows: Million US dollar 2022 2021 2020 Hedged (economic hedges) 297 717 (181 ) Not hedged (660 ) (801 ) 195 (363 ) (84 ) 14 |
Summary of Effective Interest Rates at Balance Sheet | 31 December 2022 Before hedging After hedging Interest-bearing financial liabilities Effective Effective Million US dollar interest rate Amount interest rate Amount Floating rate Canadian dollar — — 4.34 % 1 455 Euro 1.68 % 1 048 1.68 % 1 048 Pound sterling — — 3.70 % 1 078 South Korean won — 1 3.08 % 311 US dollar 5.05 % 430 — — Other 13.39 % 252 11.17 % 666 1 730 4 557 Fixed rate Canadian dollar 4.50 % 613 4.37 % 3 741 Chinese yuan 2.44 % 50 2.50 % 1 230 Euro 2.27 % 20 391 2.31 % 21 242 Pound sterling 5.13 % 2 208 5.55 % 1 607 South Korean won 2.96 % 46 0.94 % 1 896 US dollar 4.99 % 53 478 5.27 % 44 547 Other 10.53 % 1 476 12.19 % 1 172 78 261 75 434 31 December 2021¹ Before hedging After hedging Interest-bearing financial liabilities Effective Effective Million US dollar interest rate Amount interest rate Amount Floating rate Canadian dollar — — 1.21 % 2 043 Euro — 1 113 — 1 113 Pound sterling — — 1.05 % 1 002 South Korean won — — 1.67 % 502 US dollar 1.67 % 463 — — Other 5.37 % 734 5.99 % 1 504 2 310 6 164 Fixed rate Canadian dollar 4.11 % 626 4.29 % 3 158 Chinese yuan 3.87 % 34 1.78 % 194 Euro 2.27 % 21 654 2.11 % 27 553 Pound sterling 4.35 % 3 611 4.43 % 2 937 South Korean won 3.85 % 31 0.87 % 1 695 US dollar 4.93 % 59 399 5.41 % 46 288 Other 8.09 % 1 165 9.62 % 841 86 520 82 667 1 Amended to conform to 2022 presentation. |
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 2022 2021 2020 Financial liabilities measured at amortized cost – not hedged (3 641 ) (3 836 ) (4 154 ) Fair value hedges (20 ) (6 ) (1 ) Cash flow hedges 24 17 19 Net investment hedges - hedging instruments (interest component) (1 ) — 2 Economic hedges 42 141 118 (3 597 ) (3 684 ) (4 016 ) |
Schedule of Commodity Derivatives Outstanding | The most significant commodity exposures as at 31 December 2022 and 31 December 2021 are included in the table below (expressed in outstanding notional amounts): Million US dollar 31 December 2022 31 December 2021 Aluminum 2 165 1 241 Energy 417 350 Corn 321 292 Wheat 127 129 Plastic 122 93 Rice 100 85 Sugar 95 85 3 348 2 274 |
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 2022 and 31 December 2021, would have on the equity reserves. 2022 2021 Pre-tax impact on equity Pre-tax impact on Million US dollar Volatility of Prices increase Prices decrease Volatility of Prices increase Prices decrease Aluminum 30.71 % 665 (665 ) 23.09 % 287 (287 ) Energy 49.37 % 206 (206 ) 25.88 % 91 (91 ) Corn 22.44 % 72 (72 ) 23.26 % 68 (68 ) Wheat 51.59 % 66 (66 ) 29.24 % 38 (38 ) Plastic 32.31 % 25 (25 ) 28.68 % 27 (27 ) Rice 19.31 % 19 (19 ) 15.96 % 14 (14 ) Sugar 22.17 % 21 (21 ) 26.39 % 22 (22 ) 1 Sensitivity analysis is assessed based on the yearly volatility using daily observable market data during 250 days at 31 December 2022 and 31 December 2021. |
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 2022 31 December 2021 1 Million US dollar Gross Impairment Net carrying Gross Impairment Net carrying Cash and cash equivalents 9 973 — 9 973 12 097 — 12 097 Trade receivables 3 980 (343 ) 3 637 3 796 (331 ) 3 465 Other receivables 1 545 (68 ) 1 477 1 272 (65 ) 1 207 Derivatives 391 — 391 669 — 669 Cash deposits for guarantees 189 — 189 168 — 168 Investment in unquoted companies 155 (5 ) 149 145 (6 ) 139 Investment in debt securities 123 — 123 396 — 396 Loans to customers 81 — 81 117 — 117 16 434 (416 ) 16 019 18 660 (402 ) 18 258 |
Summary of Allowance for Impairment | The allowance for impairment recognized during the period on financial assets was as follows: 31 December 2022 31 December 2021 1 31 December 2020¹ Balance at end of previous year (402 ) (376 ) (283 ) Impairment losses (38 ) (37 ) (99 ) Derecognition 24 30 49 Currency translation and other 1 (19 ) (46 ) Balance at end of period (416 ) (402 ) (376 ) |
Summary of Nominal Contractual Maturities of Non-Derivative Financial Liabilities | The following are the nominal contractual maturities of non-derivative 31 December 2022 Contractual Less More Carrying cash than than Million US dollar amount¹ flows 1 year 1-2 years 2-3 years 3-5 years 5 years Non-derivative Unsecured bond issues (76 798 ) (133 670 ) (3 273 ) (5 683 ) (3 783 ) (15 482 ) (105 450 ) Trade and other payables (27 208 ) (27 453 ) (26 376 ) (170 ) (349 ) (260 ) (297 ) Lease liabilities (2 492 ) (2 840 ) (618 ) (566 ) (414 ) (531 ) (712 ) Secured bank loans (393 ) (405 ) (371 ) (5 ) (5 ) (10 ) (14 ) Unsecured bank loans (100 ) (100 ) (100 ) — — — — Unsecured other loans (125 ) (193 ) (34 ) (78 ) (28 ) (31 ) (23 ) Bank overdraft (83 ) (83 ) (83 ) — — — — (107 199 ) (164 745 ) (30 856 ) (6 501 ) (4 579 ) (16 313 ) (106 496 ) Derivative financial liabilities Equity derivatives (4 763 ) (4 763 ) (4 763 ) — — — — Foreign exchange derivatives (265 ) (265 ) (265 ) — — — — Cross currency interest rate swaps (192 ) (191 ) (9 ) (43 ) (47 ) (62 ) (30 ) Commodity derivatives (271 ) (251 ) (249 ) (2 ) — — — (5 492 ) (5 471 ) (5 287 ) (45 ) (47 ) (62 ) (30 ) Of which: related to cash flow hedges (551 ) (530 ) (469 ) — (43 ) (17 ) — 31 December 2021 Contractual Less More Carrying cash than than Million US dollar amount¹ flows 1 year 1-2 years 2-3 years 3-5 years 5 years Non-derivative Unsecured bond issues (85 726 ) (152 064 ) (3 479 ) (3 596 ) (6 192 ) (13 800 ) (124 997 ) Trade and other payables (26 442 ) (26 643 ) (25 424 ) (314 ) (507 ) (96 ) (302 ) Lease liabilities (2 277 ) (2 429 ) (497 ) (470 ) (337 ) (450 ) (675 ) Secured bank loans (628 ) (636 ) (551 ) (53 ) (5 ) (9 ) (18 ) Unsecured bank loans (106 ) (106 ) (106 ) — — — — Unsecured other loans (40 ) (84 ) (11 ) (48 ) (5 ) (4 ) (16 ) Bank overdraft (53 ) (53 ) (53 ) — — — — (115 272 ) (182 015 ) (30 121 ) (4 481 ) (7 046 ) (14 359 ) (126 008 ) Derivative financial liabilities Equity derivatives (5 412 ) (5 420 ) (5 420 ) — — — — Foreign exchange derivatives (166 ) (166 ) (166 ) — — — — Cross currency interest rate swaps (273 ) (293 ) (147 ) (35 ) (32 ) (56 ) (23 ) Commodity derivatives (34 ) (34 ) (34 ) — — — — (5 885 ) (5 913 ) (5 767 ) (35 ) (32 ) (56 ) (23 ) Of which: related to cash flow hedges (203 ) (203 ) (170 ) — — (29 ) (4 ) 1 “Carrying amount” refers to the net book value as recognized in the statement of financial position 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 statement of financial position: Assets Liabilities Net 31 December 31 December 31 December 31 December 31 December 31 December Million US dollar 2022 2021 2022 2021 2022 2021 Foreign currency Foreign exchange forwards 223 238 (265 ) (129 ) (42 ) 109 Foreign currency futures 4 — — (37 ) 4 (37 ) Interest rate Interest rate swaps — 38 (5 ) — (5 ) 38 Cross currency interest rate swaps 63 111 (187 ) (273 ) (124 ) (162 ) Commodities Aluminum swaps 52 178 (174 ) (20 ) (122 ) 158 Sugar futures 4 13 — — 4 13 Energy 12 29 (28 ) (2 ) (16 ) 27 Other commodity derivatives 32 62 (69 ) (13 ) (37 ) 50 Equity Equity derivatives — — (4 763 ) (5 412 ) (4 763 ) (5 412 ) 391 669 (5 492 ) (5 886 ) (5 101 ) (5 216 ) Of which: Non-current 60 48 (184 ) (100 ) (124 ) (52 ) Current 331 621 (5 308 ) (5 786 ) (4 977 ) (5 164 ) |
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 in the statement of financial position. Floating rate interest-bearing financial liabilities, trade and other receivables and trade and other payables, lease liabilities and derivative 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 2022 31 December 2021 2 Million US dollar Carrying amount¹ Fair value Carrying amount¹ Fair value Fixed rate US dollar (52 993 ) (52 158 ) (58 912 ) (74 852 ) Euro (19 655 ) (17 926 ) (20 856 ) (23 801 ) Pound sterling (2 148 ) (2 039 ) (3 539 ) (3 913 ) Canadian dollar (515 ) (437 ) (549 ) (604 ) Other (458 ) (448 ) (389 ) (420 ) (75 769 ) (73 008 ) (84 244 ) (103 590 ) 1 “Carrying amount” refers to the net book value as recognized in the statement of financial position at each reporting date. 2 Amended to conform to 2022 presentation. |
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 2022 Quoted (unadjusted) Observable market Unobservable market Million US dollar prices - level 1 inputs - level 2 inputs - level 3 Financial Assets Held for trading (non-derivatives) — 9 — Derivatives at fair value through profit and loss — 41 — Derivatives in a cash flow hedge relationship 36 219 — Derivatives in a net investment hedge relationship — 94 — 36 364 — Financial Liabilities Deferred consideration on acquisitions at fair value — — 762 Derivatives at fair value through profit and loss — 4 799 — Derivatives in a cash flow hedge relationship 26 525 — Derivatives in a fair value hedge relationship — 4 — Derivatives in a net investment hedge relationship — 138 — 26 5 466 762 Fair value hierarchy 31 December 2021 Quoted (unadjusted) Observable market Unobservable market Million US dollar prices - level 1 inputs - level 2 inputs - level 3 Financial Assets Held for trading (non-derivatives) — 9 — Derivatives at fair value through profit and loss — 155 — Derivatives in a cash flow hedge relationship 58 352 — Derivatives in a fair value hedge relationship — 17 — Derivatives in a net investment hedge relationship — 87 — 58 620 — Financial Liabilities Deferred consideration on acquisitions at fair value — — 832 Derivatives at fair value through profit and loss — 5 611 — Derivatives in a cash flow hedge relationship 52 141 — Derivatives in a net investment hedge relationship — 82 — 52 5 834 832 |
Summary of Hedging Reserve and Hedging Instruments | The company’s hedging reserves disclosed in Note 21 C hanges in equity and earnings per share Million US dollar Foreign Commodities Others Total hedging As per 1 January 2022 679 (306 ) 111 481 Change in fair value of hedging instrument recognized in OCI 143 39 — 182 Reclassified to profit or loss / cost of inventory (331 ) (208 ) 22 (518 ) As per 31 December 2022 491 (476 ) 131 145 Million US dollar Foreign Commodities Others Total hedging As per 1 January 2021 20 274 84 376 Change in fair value of hedging instrument recognized in OCI 766 123 — 888 Reclassified to profit or loss / cost of inventory (107 ) (703 ) 27 (783 ) As per 31 December 2021 679 (306 ) 111 481 |
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 2022 Million US dollar Gross amount Net amount 1 Other offsetting 2 Total net amount Derivative assets 391 391 (381 ) 10 Derivative liabilities (5 492 ) (5 492 ) 381 (5 111 ) 31 December 2021 Million US dollar Gross amount Net amount Other offsetting Total net amount Derivative assets 670 670 (651 ) 19 Derivative liabilities (5 886 ) (5 886 ) 651 (5 235 ) 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. |
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, 2022 | |
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 2022 31 December 2021 Collateral given for own liabilities 306 310 Contractual commitments to purchase property, plant and equipment 538 449 Contractual commitments to acquire loans to associates/customers 72 142 Other commitments 1 800 1 943 |
Contingencies (Tables)
Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Ab Inbev's Material Tax Proceedings Related to Ambev and Its Subsidiaries | As of 31 December 2022 and 31 December 2021, 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 2022 31 December 2021 Income tax and social contribution 11 586 9 723 Value-added and excise taxes 4 965 4 285 Other taxes 854 663 17 405 14 671 |
Non-controlling interests (Tabl
Non-controlling interests (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2022 31 December 2021 31 December 2022 31 December 2021 Summarized statement of financial position information Current assets 7 248 6 922 3 606 3 161 Non-current 19 193 17 915 12 390 13 464 Current liabilities 7 770 6 965 4 414 4 691 Non-current 2 700 2 817 748 851 Equity attributable to equity holders 15 707 14 809 10 765 11 013 Non-controlling 263 246 69 70 Ambev Budweiser APAC Million US dollar 2022 2021 2020 2022 2021 2020 Summarized income statement and other comprehensive income information Revenue 15 434 13 570 11 373 6 478 6 788 5 588 Net income 2 883 2 444 2 286 949 981 537 Attributable to: Equity holders 2 800 2 360 2 217 913 950 514 Non-controlling 84 84 69 36 31 23 Net income 2 883 2 444 2 286 949 981 537 Other comprehensive income (1 300 ) 629 1 467 (812 ) (289 ) 635 Total comprehensive income 1 584 3 074 3 753 137 692 1 172 Attributable to: Equity holders 1 517 2 970 3 647 105 660 1 147 Non-controlling 67 104 106 32 32 25 Summarized cash flow information Cash flow from operating activities 3 997 4 266 3 673 1 577 1 903 1 301 Cash flow from investing activities (969 ) (1 441 ) (1 325 ) (440 ) (731 ) (572 ) Cash flow from financing activities (3 164 ) (2 988 ) (1 676 ) (500 ) (464 ) (432 ) Net increase/(decrease) in cash and cash equivalents (136 ) (163 ) 673 637 708 297 |
Related parties (Tables)
Related parties (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Directors and Executive Board Management Compensation | 2022 2021 2020 Million US dollar Directors Executive Directors Executive Directors Executive Short-term employee benefits 2 15 2 24 2 4 Termination benefits — — — — — 2 Share-based payment — 35 — 33 — 7 2 50 2 57 2 13 |
Summary of AB InBev's Transactions with Associates | Million US dollar 2022 2021 2020 Gross profit (4 ) 58 (118 ) Current assets 100 57 55 Current liabilities 16 99 115 |
Supplemental guarantor financ_2
Supplemental guarantor financial information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Schedule of Condensed Consolidated Income Statement | Income Statement Data For the year ended 31 December 2022 ABISA ABIWW ABIFI ABC Brandbrew, Eliminations Total ABISA Million US dollar Revenue - external 443 — — 14 489 — — 14 932 Revenue from non-guarantor 103 — — 196 — — 299 Revenue from guarantor subsidiaries — — — 57 — (57 ) — Cost of sales - (280 ) — — (6 030 ) — — (6 310 ) Cost of sales to non-guarantor (152 ) — — (585 ) — — (738 ) Cost of sales to guarantor subsidiaries (14 ) — — (36 ) — 51 — Gross profit 99 — — 8 090 — (6 ) 8 183 Selling, general and administrative expenses - external (609 ) — — (3 889 ) (3 ) — (4 501 ) Selling, general and administrative expenses (non-guarantor (4 ) — — (329 ) 7 — (327 ) Selling, general and administrative expenses (guarantor subsidiaries) 287 1 237 — (1 535 ) 4 6 — Other operating income/(expenses)¹ - external 34 — — (26 ) (1 ) — 7 Other operating income/(expenses) (non-guarantor 43 — — 136 — — 179 Other operating income/(expenses) (guarantor 138 (4 ) — (133 ) — — — Profit/(loss) from operations (11 ) 1 233 — 2 315 6 — 3 542 Net finance income/(cost) 1 (701 ) (1 492 ) (295 ) (984 ) 686 — (2 785 ) Net finance income/(cost) (non-guarantor 17 (210 ) 19 773 14 — 611 Net finance income/(cost) (guarantor subsidiaries) 236 1 003 292 (1 035 ) (495 ) — — Income tax expense (15 ) (125 ) (3 ) (250 ) — — (393 ) Profit/(loss) (474 ) 409 12 818 210 — 975 Income from non-guarantor 5 958 (3 ) — 199 263 (6 418 ) — Income from guarantor subsidiaries 485 1 018 — — — (1 503 ) — Profit of the year 5 969 1 423 12 1 018 473 (7 920 ) 975 1 Other operating income/(expenses) and Net finance income/(cost) include exceptional items. Income Statement Data For the year ended 31 December 2021 ABISA ABIWW ABIFI ABC Brandbrew, Eliminations Total ABISA Million US dollar Revenue - external 472 — — 14 104 — — 14 576 Revenue from non-guarantor 122 — — 222 — — 344 Revenue from guarantor subsidiaries — — — 54 — (54 ) — Cost of sales - (275 ) — — (5 462 ) — — (5 737 ) Cost of sales to non-guarantor (157 ) — — (687 ) — — (844 ) Cost of sales to guarantor subsidiaries (15 ) — — (34 ) — 49 — Gross profit 147 — — 8 197 — (5 ) 8 339 Selling, general and administrative expenses - external (589 ) — — (3 974 ) 6 — (4 557 ) Selling, general and administrative expenses (non-guarantor (17 ) — — (248 ) 12 — (253 ) Selling, general and administrative expenses (guarantor subsidiaries) 158 1 313 — (1 491 ) 15 5 — Other operating income/(expenses)¹ - external 2 — — (191 ) — — (189 ) Other operating income/(expenses) (non-guarantor 37 — — 114 — — 151 Other operating income/(expenses) (guarantor subsidiaries) 42 (5 ) — (37 ) — — — Profit/(loss) from operations (220 ) 1 308 — 2 370 33 — 3 491 Net finance income/(cost) 1 (1 016 ) (2 088 ) (346 ) (1 484 ) 109 — (4 825 ) Net finance income/(cost) (non-guarantor 149 2 025 60 713 817 — 3 764 Net finance income/(cost) (guarantor subsidiaries) 139 (1 314 ) 350 1 276 (451 ) — — Share of result of associates and joint ventures — — — 2 — — 2 Income tax expense (13 ) (56 ) (12 ) (296 ) — — (377 ) Profit/(loss) (961 ) (125 ) 52 2 581 508 — 2 055 Income from non-guarantor 4 717 (58 ) — 201 361 (5 221 ) — Income from guarantor subsidiaries 914 2 977 — — — (3 891 ) — Profit of the year 4 670 2 794 52 2 782 869 (9 112 ) 2 055 1 Other operating income/(expenses) and Net finance income/(cost) include exceptional items. |
Schedule of Condensed Consolidated Statement of Financial Position | Statement of Financial Position Data As at 31 December 2022 ABISA ABIWW ABIFI ABC Brandbrew, Eliminations Total ABISA and Subsidiary Guarantors after eliminations Million US dollar Due from non-guarantor 11 750 5 033 — 64 009 18 240 — 99 031 Due from guarantor subsidiaries — 6 649 3 815 9 058 — (19 522 ) — Due from subsidiaries 11 750 11 682 3 815 73 067 18 240 (19 522 ) 99 031 Property, plant and equipment 32 — — 4 406 — — 4 438 Goodwill and intangible assets 1 538 — — 55 575 97 — 57 210 Investments in subsidiaries 112 409 79 331 — 21 018 15 461 (228 219 ) — Derivatives — — — — 59 — 59 Other non-current — 240 10 21 — — 270 Other non-current 113 980 79 570 10 81 020 15 617 (228 219 ) 61 978 Total non-current 125 729 91 252 3 825 154 087 33 857 (247 741 ) 161 009 Due from non-guarantor 909 154 363 1 993 176 — 3 595 Due from guarantor subsidiaries 548 6 897 65 93 1 737 (9 342 ) — Due from subsidiaries 1 457 7 051 428 2 086 1 913 (9 342 ) 3 595 Inventories — — — 939 — — 939 Derivatives — — — 34 205 — 239 Trade and other receivables 166 — — 745 151 — 1 062 Cash and cash equivalents 73 1 — 110 10 659 — 10 843 Other current assets 8 273 — — 2 — 284 Other current assets 248 274 — 1 828 11 018 — 13 367 Total current assets 1 705 7 325 428 3 914 12 931 (9 342 ) 16 962 Total equity 73 398 55 459 380 108 991 23 241 (228 219 ) 33 250 Due to non-guarantor 16 496 2 960 — 1 851 3 350 — 24 657 Due to guarantor subsidiaries 3 815 9 058 — 6 649 — (19 522 ) — Due to subsidiaries 20 311 12 018 — 8 500 3 350 (19 522 ) 24 657 Interest-bearing loans and borrowings 22 833 30 541 3 802 19 916 — — 77 092 Employee benefits 3 — — 469 — — 472 Deferred tax liabilities — — — 6 538 16 — 6 555 Derivatives — — — — 184 — 184 Other non-current — — — 198 — — 198 Other non-current 22 836 30 541 3 802 27 122 200 — 84 502 Total non-current 43 147 42 559 3 802 35 622 3 550 (19 522 ) 109 159 Due to non-guarantor 258 13 — 2 321 10 302 — 12 894 Due to guarantor subsidiaries 2 259 25 — 6 951 106 (9 342 ) — Due to subsidiaries 2 517 38 — 9 272 10 408 (9 342 12 894 Interest-bearing loans and borrowings — — — 66 — — 66 Derivatives 2 — — 95 5 038 — 5 135 Bank overdrafts 7 477 — — — 4 509 — 11 986 Trade and other payables 821 521 69 3 911 41 — 5 363 Other current liabilities 73 — 2 43 — — 117 Other current liabilities 8 372 521 71 4 115 9 588 — 22 668 Total current liabilities 10 889 559 71 13 387 19 996 (9 342 ) 35 562 Statement of Financial Position Data As at 31 December 2021 ABISA ABIWW ABIFI ABC Brandbrew, Eliminations Total ABISA Million US dollar Due from non-guarantor 13 141 15 102 1 200 32 092 16 496 — 78 031 Due from guarantor subsidiaries — — 6 076 1 233 — (7 309 ) — Due from subsidiaries 13 141 15 102 7 276 33 325 16 496 (7 309 ) 78 031 Property, plant and equipment 62 — — 4 343 — — 4 405 Goodwill and intangible assets 1 364 — — 55 283 97 — 56 744 Investments in subsidiaries 112 722 79 596 — 35 862 15 017 (243 197 ) — Derivatives — — — — 48 — 48 Other non-current — 207 — 30 — — 237 Other non-current 114 148 79 803 — 95 518 15 162 (243 197 ) 61 434 Total non-current 127 289 94 905 7 276 128 843 31 658 (250 506 ) 139 465 Due from non-guarantor 646 — 71 3 007 3 436 — 7 160 Due from guarantor subsidiaries 655 5 934 731 81 3 402 (10 803 ) — Due from subsidiaries 1 301 5 934 802 3 088 6 838 (10 803 ) 7 160 Inventories — — — 961 — — 961 Derivatives — — — 132 293 — 425 Trade and other receivables 201 — — 546 9 — 756 Cash and cash equivalents 1 127 7 7 367 8 156 — 9 664 Other current assets 9 — — 57 2 — 68 Other current assets 1 337 7 7 2 063 8 460 — 11 874 Total current assets 2 638 5 941 809 5 151 15 298 (10 803 ) 19 034 Total equity 68 669 57 635 678 71 348 23 849 (243 197 ) (21 018 ) Due to non-guarantor 17 517 7 325 — 20 768 3 350 — 48 960 Due to guarantor subsidiaries 6 076 1 233 — — — (7 309 ) — Due to subsidiaries 23 593 8 558 — 20 768 3 350 (7 309 ) 48 960 Interest-bearing loans and borrowings 25 483 33 064 7 268 19 905 — — 85 720 Employee benefits 3 — — 803 — — 806 Deferred tax liabilities — — 1 6 520 60 — 6 581 Derivatives — — — — 100 — 100 Other non-current — — — 110 — — 110 Other non-current 25 486 33 064 7 269 27 338 160 — 93 317 Total non-current 49 079 41 622 7 269 48 106 3 510 (7 309 ) 142 277 Due to non-guarantor 244 732 — 4 771 9 190 — 14 937 Due to guarantor subsidiaries 4 658 24 — 5 875 246 (10 803 ) — Due to subsidiaries 4 902 756 — 10 646 9 436 (10 803 ) 14 937 Interest-bearing loans and borrowings 1 218 — 19 — — 238 Derivatives 2 — — 12 5 666 — 5 680 Bank overdrafts 6 292 — 2 — 4 474 — 10 768 Trade and other payables 905 543 131 3 863 21 — 5 463 Other current liabilities 77 72 5 — — — 154 Other current liabilities 7 277 833 138 3 894 10 161 — 22 303 Total current liabilities 12 179 1 589 138 14 540 19 597 (10 803 ) 37 240 |
AB InBev companies (Tables)
AB InBev companies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Investments accounted for using equity method [abstract] | |
Schedule of Name and Registered Office of Fully Consolidated Companies | LIST OF THE MOST IMPORTANT FULLY CONSOLIDATED COMPANIES Name and registered office of the fully consolidated companies % economic interest 31 December 2022 Argentina Cerveceria y Malteria Quilmes Saica Y G - Charcas 5160 - C1425BOF Buenos Aires 61.62 % Belgium Anheuser-Busch InBev NV - Grand Place 1 - 1000 Brussels 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 - Boulevard Industriel, 21 - 1070 Anderlecht 100.00 % Bolivia Cervecería Boliviana Nacional S.A. - Av. Montes 400 & Calle Chuquisaca No. 121, Zona Challapampa, La Paz 52.72 % Botswana Kgalagadi Breweries (Pty) Ltd - Plot 20768, Kudu Road, Broadhurst Industrial Estate - PO Box 1157 - Gaborone¹ 31.06 % Brazil Ambev S.A. - Rua Dr. Renato Paes de Barros 1017, 3° Andar Itaim Bibi, São Paulo 61.77 % Canada Labatt Brewing Company Limited - 207 Queen’s Quay West, Suite 299 - M5J 1A7 - Toronto 61.77 % Chile Cerveceria Chile S.A - Av. Presidente Eduardo Frei Montalva 9600, Quilicura - 8700000 Santiago de Chile 61.77 % China Anheuser-Busch Inbev (China) Sales Company Limited - Shangshou, Qin Duan Kou, Hanyang Area - 430051 - Wuhan City, Hubei Province 87.22 % Anheuser-Busch InBev (Wuhan) Brewing Co., Ltd. - Shangshou, Qin Duan Kou, Hanyang Area - 430051 - Wuhan City, Hubei Province 84.66 % Anheuser-Busch InBev Sedrin Brewery Co., Ltd - No.1 West Xuejin Avenue,Hanjiang District - 351111 - Putian City, Fujian Province 87.22 % Anheuser-Busch InBev Southeast Sales Co., Ltd. - No.1 West Xuejin Avenue, Hanjiang District, Putian, Fujian , P.R.China - 351111 - Putian City, Fujian Province 87.22 % Blue Girl Beer (Guangzhou) Co. Ltd - Units 2101,21/F, Tower A, China International Centre, 33 Zhongshan San Road - 510000 - Guangzhou City 56.69 % Colombia Bavaria & Cia S.C.A. - Carrera 53 A, No 127 - 35 - 110221 - Bogota 99.16 % Czech Republic Pivovar Samson s.r.o. - Lidická 458/51, 37001, České Budějovice 100.00 % Dominican Republic Cervecería Nacional Dominicana S.A. - Autopista 30 de Mayo Km 61/2, Distrito Nacional - A.P. 10100 - Santo Domingo 2 52.51 % Ecuador Cervecería Nacional S.A. - Via a daule km 16,5 y calle cobre s/n - EC090150 - Guayaquil, Guayas 95.58 % El Salvador La Constancia Ltda de C.V. - Avenida Independencia, No 526 - PBX (503) 2209-7555 - San Salvador 100.00 % France AB InBev France S.A.S. - Immeuble Crystal, 38, Place Vauban - C.P. 59110 - La Madeleine 100.00 % 1 The group’s shares entitle the holder to t wic tin ght 2 85% owned by Ambev S.A. Germany Anheuser-Busch InBev Deutschland GmbH & Co. KG - Am Deich 18/19 - 28199 - Bremen 100.00 % Anheuser-Busch InBev Germany Holding GmbH - Am Deich 18/19 - 28199 - Bremen 100.00 % Ghana Accra Brewery PLC - 20 Graphic Road, South Industrial Area - Box GP1219 - Accra 61.61 % Honduras Cervecería Hondureña S.A. de C.V. - Boulevard del Norte - Postal No. 86 - San Pedro Sula 99.61 % Hong Kong Budweiser Brewing Company APAC Limited - Suites 3012-16, 87.22 % India Crown Beers India Private Limited - 510/511, Minerva House, Sarojini Devi Road - 500003 - Secunderabad, Telangana 87.22 % Anheuser Busch InBev India Limited - Unit No.301-302, 87.05 % Italy Anheuser-Busch InBev Italia - Via Fratelli Castiglioni, 8, 20124 Milano MI, Italy 100.00 % Luxembourg Brasserie de Luxembourg Mousel-Diekirch S.A. - Rue de la Brasserie, 1 - L-9214 95.82 % Mexico Cervecería Modelo de México S. de R.L. de C.V. - Cerrada de Palomas 22, 6th Floor, Reforma Social, Miguel Hidalgo, 11650 Mexico City 100.00 % Mozambique Cervejas De Moçambique SA - Rua do Jardim 1329, Maputo 51.47 % Netherlands AB InBev Africa B.V. - Ceresstraat 1 - 4811 CA - Breda 62.00 % InBev Nederland N.V. - Ceresstraat 1 - 4811 CA - Breda 100.00 % Interbrew International B.V. - Ceresstraat 1 - 4811 CA - Breda 100.00 % Nigeria International Breweries PLC - 22/36 Glover Road, Lagos, Ikoyi¹ 43.00 % Panama Cervecería Nacional S. de R.L. - Complejo Business Park, Costa del Este Torre Oeste, Piso No.2 Panamá 61.77 % Paraguay Cervecería Paraguaya S.A. - Ruta Acceso Sur Km 30 s/ Desvío a Villeta N° 825 53.96 % 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) - 25 - Lima 97.22 % Unión de Cervecerías Peruanas Backus y Johnston S.A.A. - Av. Nicolas Ayllon 3986, Ate - 3 - Lima 93.65 % South Africa SABSA Holdings (Pty) Ltd - 65 Park Lane, Sandown - 2001 - Johannesburg 100.00 % The South African Breweries (Pty) Ltd - 65 Park Lane, Sandown - 2146 - Johannesburg 100.00 % South Korea Oriental Brewery Co Ltd - 517, Yeongdong-daero, Gangam-gu, 87.22 % Spain Compañía Cervecera de Canarias S.A. - C/ Mali, 7 (38320 La Laguna - Santa Cruz de Tenerife) 51.03 % Switzerland Anheuser-Busch InBev Procurement GmbH - Suurstoffi 22 - 6343 - Rotkreuz 100.00 % Tanzania Tanzania Breweries PLC - Uhuru Street, Plot No 79, Block AA, Mchikichini, Ilala District, Dar es Salaam¹ 39.65 % 1 The company is consolidated due to the group’s majority shareholders and ability to control the operations. Uganda Nile Breweries Ltd - Plot M90 Yusuf Lule Road, Njeru - P.O. Box 762 - Jinja 61.64 % United Kingdom AB InBev Holdings Limited - Bureau, 90 Fetter Lane - EC4A 1EN - London 100.00 % AB InBev International Brands Limited - AB InBev House, Church Street West, Woking, Surrey, GU21 6HT 100.00 % AB InBev UK Limited - Bureau, 90 Fetter Lane - EC4A 1EN - London 100.00 % ABI SAB Group Holding Limited - Bureau, 90 Fetter Lane - EC4A 1EN - London 100.00 % ABI UK Holding 1 Limited - Bureau, 90 Fetter Lane - EC4A 1EN - London 100.00 % ZX Ventures Limited - Bureau, 90 Fetter Lane - EC4A 1EN - London 100.00 % United States Anheuser-Busch Americas Holdings LLC - One Busch Place - MO 63118 - St. Louis 100.00 % Anheuser-Busch Companies LLC - One Busch Place - MO 63118 - St. Louis 100.00 % Anheuser-Busch InBev Worldwide Inc. - One Busch Place - MO 63118 - St. Louis 100.00 % Anheuser-Busch International LLC - One Busch Place - MO 63118 - St. Louis 100.00 % Anheuser-Busch LLC - One Busch Place - MO 63118 - St. Louis 100.00 % Anheuser-Busch North American Holding LLC - One Busch Place - MO 63118 - St. Louis 100.00 % MCC Holding Company LLC - One Busch Place - MO 63118 - St. Louis 50.10 % Uruguay Cerveceria y Malteria Paysandu S.A. - Cesar Cortinas, 2037 - C.P. 11500 Montevideo 61.77 % Vietnam Anheuser-Busch InBev Vietnam Brewery Co., Ltd - 2 VSIP II-A, 87.22 % Zambia Zambian Breweries PLC - Plot No 6438, Mungwi Road - P.O. Box 31293 - Lusaka 54.02 % |
Summary of Name and Registered Office of Associates and Joint Ventures [Table Text Block] | LIST OF THE MOST IMPORTANT COMPANIES CONSOLIDATED BY APPLYING THE EQUITY METHOD OF ACCOUNTING (ASSOCIATES) Name and registered office of associates % economic interest as at 31 December 2022 France Société des brasseries et glacières internationales S.A. - 49 rue François 1er - 75008 - Paris¹ 20.00 % Luxembourg B.I.H. Brasseries Internationales Holding (Angola) Limited - 34-38 27.50 % B.I.H. Brasseries Internationales Holding Limited - 34-38 20.00 % Netherlands AB InBev Efes B.V. - 1227 Strawinskylaan - 1077XX Amsterdam 50.00 % Turkey Anadolu Efes Biracilik Ve Malt Sanayii A.S. - Bahçelievler Mahallesi, Sehit Ibrahim Koparir Caddesi No. 4, Bahçelievler Istanbul 24.00 % Zimbabwe Delta Corporation Limited - Sable House, Northridge Close, Borrowdale - P.O. Box BW 343 - Harare 25.27 % 1 Related to Castel group. |
Corporate Information - Additio
Corporate Information - Additional Information (Detail) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 USD ($) Employees Country Brand | Dec. 31, 2021 USD ($) Employees | Dec. 31, 2020 USD ($) Employees | |||
Disclosure Of Corporate Information [line items] | |||||
Number of employees | Employees | 166,632 | 169,339 | 163,695 | ||
Revenue | $ | $ 57,786 | $ 54,304 | [1] | $ 46,881 | [1] |
Anheuser-Busch InBev SA/NV [member] | |||||
Disclosure Of Corporate Information [line items] | |||||
Number of employees | Employees | 167,000 | ||||
Number of countries where the entity operates | Country | 50 | ||||
Revenue | $ | $ 57,800 | ||||
Anheuser-Busch InBev 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]Amended to conform to 2022 presentation. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) | 1 Months Ended | 12 Months Ended | |
May 31, 2018 | Dec. 31, 2022 Segments Region | Dec. 31, 2021 | |
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 | 177.131872 | 102.749214 | |
Bottom of range [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Voting rights in associate | 20% | ||
Bottom of range [member] | Argentina [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Cumulative inflation rate | 100% | ||
Top of range [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Voting rights in associate | 50% | ||
Software and capitalized development cost [member] | Bottom of range [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Amortization period | 3 years | ||
Software and capitalized development cost [member] | Top of range [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Amortization period | 5 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Exchange Rates (Detail) | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | May 24, 2021 | |
Argentinean Peso [member] | ||||
Disclosure Of Exchange Rates [line items] | ||||
Closing rate | 177.131872 | 102.749214 | 84.14352 | |
Brazilian Real [member] | ||||
Disclosure Of Exchange Rates [line items] | ||||
Closing rate | 5.217705 | 5.580497 | 5.196694 | |
Average rate | 5.164428 | 5.368651 | 5.133082 | |
Canadian Dollar [member] | ||||
Disclosure Of Exchange Rates [line items] | ||||
Closing rate | 1.353834 | 1.270792 | 1.273981 | |
Average rate | 1.297354 | 1.249693 | 1.346594 | |
Colombian Peso [member] | ||||
Disclosure Of Exchange Rates [line items] | ||||
Closing rate | 4,807.99 | 3,977.14 | 3,438.52 | |
Average rate | 4,211.36 | 3,741.19 | 3,689.5 | |
Chinese Yuan [member] | ||||
Disclosure Of Exchange Rates [line items] | ||||
Closing rate | 6.898736 | 6.352382 | 6.537798 | |
Average rate | 6.661729 | 6.456753 | 6.947936 | |
Euro [member] | ||||
Disclosure Of Exchange Rates [line items] | ||||
Closing rate | 0.937559 | 0.882924 | 0.81493 | 17.0064 |
Average rate | 0.951768 | 0.841767 | 0.878101 | |
Mexican Peso [member] | ||||
Disclosure Of Exchange Rates [line items] | ||||
Closing rate | 19.361452 | 20.583378 | 19.948838 | |
Average rate | 20.123646 | 20.339905 | 21.182539 | |
Pound Sterling [member] | ||||
Disclosure Of Exchange Rates [line items] | ||||
Closing rate | 0.831548 | 0.741903 | 0.732646 | |
Average rate | 0.811905 | 0.725564 | 0.780195 | |
Peruvian Nuevo Sol [member] | ||||
Disclosure Of Exchange Rates [line items] | ||||
Closing rate | 3.820004 | 3.976006 | 3.621009 | |
Average rate | 3.845294 | 3.877055 | 3.49158 | |
South Korean Won [member] | ||||
Disclosure Of Exchange Rates [line items] | ||||
Closing rate | 1,260.16 | 1,188.32 | 1,088.02 | |
Average rate | 1,286.17 | 1,139.06 | 1,185.02 | |
South African Rand [member] | ||||
Disclosure Of Exchange Rates [line items] | ||||
Closing rate | 16.968472 | 15.947907 | 14.686598 | |
Average rate | 16.39227 | 14.873785 | 16.21318 |
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, 2022 | |
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 | 10 years |
Use of Estimates and Judgments
Use of Estimates and Judgments - Additional Information (Detail) - AB InBev Efes [member] - USD ($) $ in Millions | 12 Months Ended | |
Mar. 11, 2022 | Dec. 31, 2022 | |
Disclosure of changes in accounting estimates [line items] | ||
Non-cash impairment charge | $ (1,143) | |
Proportion of ownership interests held by non controlling interests | 50% |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 USD ($) Segments Region | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |||
Disclosure of operating segments [line items] | |||||
Number of business segment | Segments | 6 | ||||
Number of reportable segments | Segments | 6 | ||||
Number of geographical regions | Region | 5 | ||||
Net revenue | $ 57,786 | $ 54,304 | [1] | $ 46,881 | [1] |
Non current Assets | 189,757 | 193,678 | |||
Belgium [member] | |||||
Disclosure of operating segments [line items] | |||||
Net revenue | 632 | 623 | 501 | ||
Non current Assets | 2,533 | 2,457 | 2,496 | ||
United States [member] | |||||
Disclosure of operating segments [line items] | |||||
Net revenue | 14,580 | 14,259 | 13,815 | ||
Brazil [Member] | |||||
Disclosure of operating segments [line items] | |||||
Net revenue | 8,256 | 6,500 | 5,868 | ||
Beer business [member] | |||||
Disclosure of operating segments [line items] | |||||
Net revenue | 51,544 | 49,333 | 43,044 | ||
Non-beer business [member] | |||||
Disclosure of operating segments [line items] | |||||
Net revenue | $ 6,242 | $ 4,971 | $ 3,837 | ||
[1]Amended to conform to 2022 presentation. |
Segment Reporting - Summary of
Segment Reporting - Summary of Segment Reporting (Detail) HLS in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 USD ($) HLS | Dec. 31, 2021 USD ($) HLS | Dec. 31, 2020 USD ($) HLS | |||
Disclosure of operating segments [line items] | |||||
Revenue | $ 57,786 | $ 54,304 | [1] | $ 46,881 | [1] |
Profit from operations | 14,517 | 13,824 | [1] | 9,620 | [1] |
Net finance income/(cost) | (4,148) | (5,609) | [1] | (7,697) | [1] |
Exceptional share of results of associates | (1,143) | ||||
Income tax expense | (1,928) | (2,350) | [1] | (1,932) | [1] |
Profit from continuing operations | 7,597 | 6,114 | [1] | 147 | [1] |
Profit from discontinued operations | 0 | 0 | [1] | 2,055 | [1] |
Profit | 7,597 | 6,114 | [1] | $ 2,202 | [1] |
Segment assets (non-current) | $ 189,757 | $ 193,678 | |||
AB InBev Worldwide [member] | |||||
Disclosure of operating segments [line items] | |||||
Volume (million hls) | HLS | 595 | 582 | 531 | ||
Revenue | $ 57,786 | $ 54,304 | $ 46,881 | ||
Profit from operations | 14,517 | 13,824 | 9,620 | ||
Net finance income/(cost) | (4,148) | (5,609) | (7,697) | ||
Share of results of associates | 299 | 248 | 156 | ||
Exceptional share of results of associates | (1,143) | ||||
Income tax expense | (1,928) | (2,350) | (1,932) | ||
Profit from continuing operations | 7,597 | 6,114 | 147 | ||
Profit from discontinued operations | 0 | 0 | 2,055 | ||
Profit | 7,597 | 6,114 | 2,202 | ||
Segment assets (non-current) | 189,757 | 193,678 | 199,891 | ||
Gross capex | $ 5,160 | $ 5,640 | $ 3,781 | ||
FTE | 166,632 | 169,339 | 163,695 | ||
AB InBev Worldwide [member] | North America [member] | |||||
Disclosure of operating segments [line items] | |||||
Volume (million hls) | HLS | 103 | 107 | 107 | ||
Revenue | $ 16,566 | $ 16,257 | $ 15,622 | ||
Profit from operations | 5,220 | 5,110 | 5,147 | ||
Segment assets (non-current) | 63,379 | 63,722 | 63,765 | ||
Gross capex | $ 695 | $ 868 | $ 646 | ||
FTE | 20,040 | 19,691 | 20,281 | ||
AB InBev Worldwide [member] | Middle America [Member] | |||||
Disclosure of operating segments [line items] | |||||
Volume (million hls) | HLS | 148 | 141 | 121 | ||
Revenue | $ 14,180 | $ 12,541 | $ 10,032 | ||
Profit from operations | 5,219 | 4,888 | 3,885 | ||
Segment assets (non-current) | 66,262 | 67,516 | 72,331 | ||
Gross capex | $ 1,319 | $ 1,307 | $ 829 | ||
FTE | 52,355 | 51,969 | 48,751 | ||
AB InBev Worldwide [member] | South America [Member] | |||||
Disclosure of operating segments [line items] | |||||
Volume (million hls) | HLS | 164 | 157 | 144 | ||
Revenue | $ 11,599 | $ 9,494 | $ 8,092 | ||
Profit from operations | 2,620 | 2,305 | 2,350 | ||
Segment assets (non-current) | 14,297 | 12,917 | 12,348 | ||
Gross capex | $ 1,001 | $ 1,154 | $ 727 | ||
FTE | 42,028 | 42,209 | 40,630 | ||
AB InBev Worldwide [member] | EMEA [member] | |||||
Disclosure of operating segments [line items] | |||||
Volume (million hls) | HLS | 91 | 87 | 76 | ||
Revenue | $ 8,120 | $ 8,032 | $ 6,835 | ||
Profit from operations | 1,478 | 1,472 | (1,722) | ||
Segment assets (non-current) | 30,918 | 34,098 | 35,578 | ||
Gross capex | $ 1,011 | $ 1,051 | $ 768 | ||
FTE | 21,306 | 22,215 | 22,357 | ||
AB InBev Worldwide [member] | Asia Pacific [member] | |||||
Disclosure of operating segments [line items] | |||||
Volume (million hls) | HLS | 89 | 88 | 82 | ||
Revenue | $ 6,532 | $ 6,848 | $ 5,648 | ||
Profit from operations | 1,431 | 1,569 | 1,062 | ||
Segment assets (non-current) | 12,397 | 13,453 | 13,845 | ||
Gross capex | $ 496 | $ 605 | $ 508 | ||
FTE | 24,331 | 26,095 | 26,510 | ||
AB InBev Worldwide [member] | Global export and holding companies [member] | |||||
Disclosure of operating segments [line items] | |||||
Volume (million hls) | HLS | 1 | 2 | 1 | ||
Revenue | $ 790 | $ 1,133 | $ 652 | ||
Profit from operations | (1,451) | (1,520) | (1,103) | ||
Segment assets (non-current) | 2,505 | 1,973 | 2,024 | ||
Gross capex | $ 638 | $ 655 | $ 303 | ||
FTE | 6,572 | 7,160 | 5,166 | ||
[1]Amended to conform to 2022 presentation. |
Other Operating Income_(Expen_3
Other Operating Income/(Expenses) - Summary of Other Operating Income Expense (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of other operating income expense [abstract] | |||||
Brazilian tax credits | $ 201 | $ 226 | $ 481 | ||
Government grants | 311 | 322 | 227 | ||
Net gain on disposal of property, plant and equipment, intangible assets and assets held for sale | 82 | 65 | 56 | ||
License income | 27 | 25 | 22 | ||
Net rental and other operating income | 220 | 167 | 58 | ||
Other operating income/(expenses) | $ 841 | $ 805 | [1] | $ 845 | [1] |
[1]Amended to conform to 2022 presentation. |
Other Operating Income_(Expen_4
Other Operating Income/(Expenses) - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of other operating income expense [abstract] | |||||
Income from brazilian tax credits | $ 201 | $ 226 | $ 481 | ||
Income from interest on brazilian tax credits | $ 168 | $ 118 | [1] | $ 315 | [1] |
[1]Amended to conform to 2022 presentation. |
Exceptional items - Summary of
Exceptional items - Summary of Exceptional Items Included in Income Statement (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of Exceptional Items [line items] | |||||
COVID-19 costs | $ (18) | $ (105) | $ (182) | ||
Restructuring | (110) | (172) | (157) | ||
Business and asset disposal (including impairment losses) | (71) | (247) | (239) | ||
AB InBev Efes related costs | (51) | ||||
Acquisition costs business combinations | (1) | (17) | (25) | ||
Zenzele Kabili costs | (72) | ||||
Impairment of goodwill | $ (2,500) | (2,500) | [1] | ||
Impact on profit from operations | (251) | (614) | (3,103) | ||
Exceptional net finance income/(cost) | 498 | (806) | (1,738) | ||
Exceptional share of results of associates | (1,143) | ||||
Exceptional taxes | 399 | 346 | 155 | ||
Exceptional non-controlling interest | 13 | 20 | 228 | ||
Gain on divestiture of Australia (discontinued operations) | 1,919 | ||||
Net impact on profit | $ (484) | $ (1,054) | $ (2,538) | ||
[1]Amended to conform to 2022 presentation. |
Exceptional Items - Additional
Exceptional Items - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||
May 31, 2021 | Jun. 01, 2020 | Jun. 30, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of Exceptional Items [line items] | |||||||
Exceptional restructuring charges | $ (110) | $ (172) | $ (157) | ||||
Acquisition costs business combinations | (1) | (17) | (25) | ||||
Business and asset disposal | (71) | (247) | (239) | ||||
NET finance (cost) income | 498 | (806) | (1,738) | ||||
Decrease of income taxes | 399 | 346 | 155 | ||||
Non-controlling interest on the exceptional items | 13 | 20 | 228 | ||||
Impairment of goodwill | $ (2,500) | (2,500) | [1] | ||||
COVID-19 Costs incurred on account of unforeseen events | (18) | (105) | (182) | ||||
Disposal group discontinue operations gain loss on disposal of business | $ 1,919 | ||||||
Zenzele Kabili costs | (72) | ||||||
Exception non cash imapirment charge investment in joint ventures | $ (258) | ||||||
Impairment on investment | (1,143) | ||||||
AB InBev Efes related costs | (51) | ||||||
Utilization of current year and carry forward interests for which no deferred tax asset was recognized | $ 350 | ||||||
Carlton United Breweries [Member] | |||||||
Disclosure of Exceptional Items [line items] | |||||||
Disposal group discontinue operations gain loss on disposal of business | $ 1,919 | ||||||
Brazilian State Tax Regularization Program [Member] | |||||||
Disclosure of Exceptional Items [line items] | |||||||
Zenzele Kabili costs | $ (72) | ||||||
[1]Amended to conform to 2022 presentation. |
Payroll and Related Benefits -
Payroll and Related Benefits - Summary of Payroll and Related Benefits (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Share Of Equity Investment [line items] | |||
Share-based payment expense | $ (448) | $ (510) | $ (169) |
Payroll and related benefits | (154) | (176) | (156) |
Payroll and related benefits [member] | |||
Disclosure Of Share Of Equity Investment [line items] | |||
Wages and salaries | (4,621) | (4,734) | (4,124) |
Social security contributions | (749) | (670) | (582) |
Other personnel cost | (687) | (706) | (637) |
Share-based payment expense | (448) | (510) | (169) |
Pension expense for defined benefit plans | (154) | (176) | (218) |
Pension expense for defined contribution plans | (164) | (147) | (91) |
Payroll and related benefits | $ (6,822) | $ (6,944) | $ (5,821) |
Payroll and Related Benefits _2
Payroll and Related Benefits - Summary of Number of Full Time Equivalents (Detail) - Employees | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Share Of Equity Investment [line items] | |||
Total number of full time equivalents | 166,632 | 169,339 | 163,695 |
Parent [member] | |||
Disclosure Of Share Of Equity Investment [line items] | |||
Total number of full time equivalents | 241 | 214 | 204 |
Other subsidiaries [member] | |||
Disclosure Of Share Of Equity Investment [line items] | |||
Total number of full time equivalents | 166,391 | 169,125 | 163,491 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Additional Information On Operating Expenses By Nature [Line Items] | |||
Depreciation and impairment of property, plant and equipment | $ 3,786 | $ 3,546 | $ 3,392 |
Amortization and impairment of intangible assets | 659 | 651 | 708 |
Depreciation and impairment of right-of-use asset | 629 | 574 | 499 |
Impairment of goodwill, tangible and intangible assets | 4 | 281 | 2,733 |
Cost of sales [member] | |||
Additional Information On Operating Expenses By Nature [Line Items] | |||
Depreciation and impairment of property, plant and equipment | 3,008 | 2,782 | 2,599 |
Amortization and impairment of intangible assets | 78 | 91 | 91 |
Depreciation and impairment of right-of-use asset | 36 | 39 | 42 |
Distribution expenses [member] | |||
Additional Information On Operating Expenses By Nature [Line Items] | |||
Depreciation and impairment of property, plant and equipment | 162 | 136 | 141 |
Amortization and impairment of intangible assets | 13 | 10 | 3 |
Depreciation and impairment of right-of-use asset | 233 | 176 | 108 |
Sales and marketing expenses [member] | |||
Additional Information On Operating Expenses By Nature [Line Items] | |||
Depreciation and impairment of property, plant and equipment | 298 | 319 | 339 |
Amortization and impairment of intangible assets | 152 | 223 | 291 |
Depreciation and impairment of right-of-use asset | 236 | 249 | 224 |
Administrative expenses [member] | |||
Additional Information On Operating Expenses By Nature [Line Items] | |||
Depreciation and impairment of property, plant and equipment | 299 | 306 | 310 |
Amortization and impairment of intangible assets | 416 | 327 | 323 |
Depreciation and impairment of right-of-use asset | 124 | 110 | 125 |
Other operating expenses [member] | |||
Additional Information On Operating Expenses By Nature [Line Items] | |||
Depreciation and impairment of property, plant and equipment | 19 | 3 | 3 |
Exceptional Items [member] | |||
Additional Information On Operating Expenses By Nature [Line Items] | |||
Impairment of goodwill, tangible and intangible assets | $ 4 | $ 281 | $ 2,733 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||||
Disclosure of finance income expense [line items] | ||||||
Finance cost - Interest income/(expense) | $ (3,588) | $ (3,674) | [1] | $ (4,004) | [1] | |
Finance cost - Net interest on net defined benefit liabilities | (73) | (73) | [1] | (82) | [1] | |
Finance cost - Accretion expense | (782) | (593) | [1] | (564) | [1] | |
Finance cost - Mark-to-market | [1] | (23) | (1,211) | |||
Finance cost - Other financial results | (1,349) | (871) | [1] | (740) | [1] | |
Finance cost - Finance income/(cost) excluding exceptional items | (5,792) | (5,234) | [1] | (6,601) | [1] | |
Finance cost - Exceptional finance income/(cost) | (255) | (806) | [1] | (1,818) | [1] | |
Finance cost - Finance income/(cost) | (6,047) | (6,040) | [1] | (8,419) | [1] | |
Finance income - Interest income/(expense) | 294 | 113 | [1] | 150 | [1] | |
Finance income - Mark-to-market | 331 | |||||
Finance income - Net interest income on Brazilian tax credits | 168 | 118 | [1] | 315 | [1] | |
Finance income - Other financial results | 352 | 200 | [1] | 177 | [1] | |
Finance income - Finance income/(cost) excluding exceptional items | 1,146 | 431 | [1] | 642 | [1] | |
Finance income - Exceptional finance income/(cost) | 753 | 80 | [1] | |||
Finance income - Finance income/(cost) | 1,898 | 431 | [1] | 722 | [1] | |
Net - Interest income/(expense) | (3,294) | (3,560) | [1] | (3,854) | [1] | |
Net - Net interest on net defined benefit liabilities | (73) | (73) | [1] | (82) | [1] | |
Net - Accretion expense | (782) | (593) | [1] | (564) | [1] | |
Net - Mark-to-market | 331 | (23) | [1] | (1,211) | [1] | |
Net - Net interest income on Brazilian tax credits | 168 | 118 | [1] | 315 | [1] | |
Net - Other Financial results | (997) | (671) | [1] | (563) | [1] | |
Net - Exceptional finance income/(cost) | 498 | (806) | [1] | (1,738) | [1] | |
Net - Finance income/(cost) excluding exceptional items | (4,646) | (4,803) | [1] | (5,959) | [1] | |
Net finance income/(cost) | $ (4,148) | $ (5,609) | [1] | $ (7,697) | [1] | |
[1]Amended to conform to 2022 presentation. |
Finance Cost and Income - Sum_2
Finance Cost and Income - Summary of Other Financial (Details) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2022 | Dec. 31, 2021 | [1] | Dec. 31, 2020 | |||
Disclosure of Finance Income [abstract] | ||||||
Finance Cost - Net foreign exchange gains/(losses) | $ (363) | $ (101) | ||||
Finance Cost - Net gains/(losses) on hedging instruments | (747) | (562) | $ (502) | [1] | ||
Finance Cost - Other financial income/(cost), including bank fees and taxes | (239) | (208) | (238) | [1] | ||
Finance Cost - Other financial results | (1,349) | (871) | (740) | [1] | ||
Finance Income - Net foreign exchange gains/(losses) | [1] | 43 | ||||
Finance Income - Hyperinflation monetary adjustments | 286 | 152 | 76 | [1] | ||
Finance Income - Other financial income/(cost), including bank fees and taxes | 66 | 48 | 58 | [1] | ||
Finance Income - Other financial results | 352 | 200 | 177 | [1] | ||
Net - Net foreign exchange gains/(losses) | (363) | (101) | 43 | [1] | ||
Net - Net gains/(losses) on hedging instruments | (747) | (562) | (502) | [1] | ||
Net - Hyperinflation monetary adjustments | 286 | 152 | 76 | [1] | ||
Net - Other financial income/(cost), including bank fees and taxes | (173) | (160) | (180) | [1] | ||
Net - Other financial results | $ (997) | $ (671) | $ (563) | [1] | ||
[1]Amended to conform to 2022 presentation. |
Finance Cost and Income - Addit
Finance Cost and Income - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of finance income expense [line items] | |||||
Share based payment of net (loss) gain | $ 331 | $ (23) | $ (1,211) | ||
Difference on share based payment gain loss | 354 | ||||
Interest expense on lease liabilities | 130 | 123 | 116 | ||
Net finance income/(cost) excluding exceptional items | 4,646 | 4,803 | 5,959 | ||
Mark to market gain (loss) | 274 | (25) | 1,008 | ||
Unwinding of discount | 499 | 349 | 306 | ||
Interest expense on bonds | 64 | 67 | 102 | ||
Interest on provisions | 89 | 54 | 41 | ||
Brazilian tax credits | 201 | 226 | 481 | ||
Income from interest on brazilian tax credits | 168 | 118 | [1] | 315 | [1] |
Gain (loss) on remeasurement of deferred considerations | (22) | (19) | 80 | ||
Gain (Loss) on Redemption of Bonds | 246 | (741) | (795) | ||
Delta Corporation Ltd [member] | |||||
Disclosure of finance income expense [line items] | |||||
Write off company investment | (22) | 15 | |||
SAB [member] | |||||
Disclosure of finance income expense [line items] | |||||
Brazilian tax credits | $ 201 | $ 226 | $ 481 | ||
[1]Amended to conform to 2022 presentation. |
Finance Cost and Income - Sum_3
Finance Cost and Income - Summary of Interest Income (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of finance income expense [abstract] | |||||
Cash and cash equivalents | $ 235 | $ 85 | $ 103 | ||
Investments in debt securities held for trading | 39 | 16 | 1 | ||
Other loans and receivables | 21 | 12 | 46 | ||
Total | $ 294 | $ 113 | [1] | $ 150 | [1] |
[1]Amended to conform to 2022 presentation. |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Taxes (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | [1] | Dec. 31, 2020 | [1] | |
Disclosure Of Income Taxes [line items] | |||||
Current year | $ (2,785) | $ (2,857) | $ (2,082) | ||
(Underprovided)/overprovided in prior years | 157 | 159 | 119 | ||
Current tax expense | (2,628) | (2,698) | (1,963) | ||
Origination and reversal of temporary differences | 829 | 632 | 355 | ||
Recognition/(de-recognition) of deferred tax assets on tax losses (carried forward) | (128) | (284) | (324) | ||
Deferred tax (expense)/income | 701 | 348 | 31 | ||
Total tax expense | $ (1,928) | $ (2,350) | $ (1,932) | ||
[1]Amended to conform to 2022 presentation. |
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, 2022 | Dec. 31, 2021 | [1] | Dec. 31, 2020 | |||
Disclosure Of Income Taxes [line items] | ||||||
Profit/(loss) before tax | $ 9,524 | $ 8,463 | $ 2,080 | [1] | ||
Deduct share of results of associates | 299 | 248 | 156 | [1] | ||
Deduct exceptional share of results of associates | (1,143) | |||||
Profit before tax and before share of results of associates | 10,369 | 8,215 | 1,924 | [1] | ||
Adjustments to the tax basis | ||||||
Government incentives | (713) | (543) | (428) | [1] | ||
Non-deductible/(non-taxable) mark-to-market on derivatives | (606) | 48 | 2,219 | [1] | ||
Non-deductible impairment of goodwill | [1] | 2,500 | ||||
Other expenses not deductible for tax purposes | 1,590 | 1,979 | 1,512 | [1] | ||
Other non-taxable income | (576) | (476) | (250) | [1] | ||
Adjusted tax basis | $ 10,065 | $ 9,223 | $ 7,477 | [1] | ||
Aggregate weighted nominal tax rate | 26.70% | 26.70% | 27.70% | [1] | ||
Tax at aggregated nominal tax rate | $ (2,691) | $ (2,463) | $ (2,069) | [1] | ||
Adjustments on tax expense | ||||||
Recognition/(de-recognition) of deferred tax assets on tax losses (carried forward) | (128) | (284) | (324) | [1] | ||
(Underprovided)/overprovided in prior years | 157 | 159 | 119 | [1] | ||
Deductions from interest on equity | 790 | 469 | 431 | [1] | ||
Deductions from goodwill and other tax deductions | 473 | 226 | 234 | [1] | ||
Change in tax rate | 48 | (147) | 61 | [1] | ||
Withholding taxes | (436) | (485) | (423) | [1] | ||
Other tax adjustments | (140) | 175 | 39 | [1] | ||
Total tax expense | $ (1,928) | $ (2,350) | $ (1,932) | [1] | ||
Effective tax rate | 18.60% | 28.60% | 100.40% | [1] | ||
[1]Amended to conform to 2022 presentation. |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Major components of tax expense (income) [abstract] | |||
Re-measurements of post-employment benefits | $ (126) | $ (123) | $ 58 |
Exchange differences, cash flow and net investment hedges | (51) | (45) | 304 |
Income tax (losses)/gains | $ (177) | $ (167) | $ 361 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure Of Income Taxes [line items] | |||||
Income tax expense | $ 1,928 | $ 2,350 | [1] | $ 1,932 | [1] |
Effective tax rate | 18.60% | 28.60% | 100.40% | ||
Benefit from a reorganization which resulted in the utilization of current year and carry forward interests | $ 350 | ||||
[1]Amended to conform to 2022 presentation. |
Property, Plant and Equipment -
Property, Plant and Equipment -Summary of Property, Plant and Equipment owned and Leased assets (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property plant and equipment | $ 26,671 | $ 26,678 |
Property, plant and equipment owned [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property plant and equipment | 24,245 | 24,459 |
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 | $ 2,426 | $ 2,219 |
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, 2022 | Dec. 31, 2021 | ||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | $ 26,678 | ||
Ending balance | 26,671 | $ 26,678 | |
Carrying amount | 26,671 | 26,678 | |
Acquisition cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 50,742 | 48,993 | |
Effect of movements in foreign exchange | (983) | (1,616) | |
Acquisitions | 4,279 | 4,739 | |
Acquisitions through business combinations | 0 | 2 | |
Disposals through sale and derecognition | (1,822) | (1,301) | |
Disposals through the sale of subsidiaries | (13) | (51) | |
Transfer (to)/from other asset categories and other movements | [1] | 66 | (23) |
Ending balance | 52,269 | 50,742 | |
Carrying amount | 52,269 | 50,742 | |
Depreciation and impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (26,284) | (24,802) | |
Effect of movements in foreign exchange | 507 | 813 | |
Depreciation | (3,530) | (3,384) | |
Disposals through sale and derecognition | 1,631 | 1,168 | |
Disposals through the sale of subsidiaries | 8 | 46 | |
Impairment losses | (172) | (182) | |
Transfer (to)/from other asset categories and other movements | (186) | 57 | |
Ending balance | (28,024) | (26,284) | |
Carrying amount | (28,024) | (26,284) | |
Land and buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 8,082 | ||
Ending balance | 8,007 | 8,082 | |
Carrying amount | 8,007 | 8,082 | |
Land and buildings [member] | Acquisition cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 12,374 | ||
Effect of movements in foreign exchange | (208) | ||
Acquisitions | 27 | ||
Acquisitions through business combinations | 0 | ||
Disposals through sale and derecognition | (154) | ||
Disposals through the sale of subsidiaries | (1) | ||
Transfer (to)/from other asset categories and other movements | [1] | 554 | |
Ending balance | 12,591 | 12,374 | |
Carrying amount | 12,591 | 12,374 | |
Land and buildings [member] | Depreciation and impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (4,292) | ||
Effect of movements in foreign exchange | 82 | ||
Depreciation | (423) | ||
Disposals through sale and derecognition | 66 | ||
Impairment losses | (3) | ||
Transfer (to)/from other asset categories and other movements | (14) | ||
Ending balance | (4,584) | (4,292) | |
Carrying amount | (4,584) | (4,292) | |
Plant and equipment fixtures and fittings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 13,915 | ||
Ending balance | 14,033 | 13,915 | |
Carrying amount | 14,033 | 13,915 | |
Plant and equipment fixtures and fittings [member] | Acquisition cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 35,906 | ||
Effect of movements in foreign exchange | (729) | ||
Acquisitions | 1,340 | ||
Acquisitions through business combinations | 0 | ||
Disposals through sale and derecognition | (1,667) | ||
Disposals through the sale of subsidiaries | (12) | ||
Transfer (to)/from other asset categories and other movements | [1] | 2,634 | |
Ending balance | 37,473 | 35,906 | |
Carrying amount | 37,473 | 35,906 | |
Plant and equipment fixtures and fittings [member] | Depreciation and impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (21,992) | ||
Effect of movements in foreign exchange | 425 | ||
Depreciation | (3,106) | ||
Disposals through sale and derecognition | 1,565 | ||
Disposals through the sale of subsidiaries | 8 | ||
Impairment losses | (168) | ||
Transfer (to)/from other asset categories and other movements | (172) | ||
Ending balance | (23,440) | (21,992) | |
Carrying amount | (23,440) | (21,992) | |
Under construction [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 2,462 | ||
Ending balance | 2,205 | 2,462 | |
Carrying amount | 2,205 | 2,462 | |
Under construction [member] | Acquisition cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 2,462 | ||
Effect of movements in foreign exchange | (46) | ||
Acquisitions | 2,912 | ||
Acquisitions through business combinations | 0 | ||
Disposals through sale and derecognition | (1) | ||
Transfer (to)/from other asset categories and other movements | [1] | (3,122) | |
Ending balance | 2,205 | 2,462 | |
Carrying amount | 2,205 | 2,462 | |
Under construction [member] | Depreciation and impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment losses | 0 | ||
Transfer (to)/from other asset categories and other movements | 0 | ||
Property Plant And Equipment Owned [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 24,459 | ||
Ending balance | 24,245 | 24,459 | |
Carrying amount | $ 24,245 | $ 24,459 | |
[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 statement of financial position of property, plant and equipment held for sale in accordance with IFRS 5 Non-current assets held for sale and discontinued operations and to the restatement of non-monetary assets under hyperinflation accounting in line with IAS 29 Financial reporting in hyperinflationary economies. |
Property, Plant and Equipment_3
Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Contractual commitments for acquisition of property, plant and equipment | $ 538 | $ 449 | |
AB InBev's net capital expenditures in the statement of cash flow | $ 4,838 | 5,498 | |
Lease agreement term | 27 years | ||
Additions to right of use assets | $ 885 | 674 | |
Sublease average outstanding period (in years) | 6 | ||
Income from subleasing right-of-use assets | $ 108 | 112 | $ 107 |
Assets to which significant restrictions apply | 0 | $ 0 | |
Not later than one year [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Undiscounted operating lease payments to be received | 92 | ||
Later than two years and not later than five years [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Undiscounted operating lease payments to be received | 253 | ||
Later than five years [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Undiscounted operating lease payments to be received | $ 53 | ||
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 (in years) | 8 years | ||
Production facilities [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Percentage of improve the production facilities | 36% | ||
Logistics and commercial investments [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Percentage of improve the production facilities | 45% | ||
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 | 20% | ||
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 (in years) | 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 (in years) | ten years |
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, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Right-of-use assets, net carrying amount | $ 2,426 | $ 2,219 |
Right-of-use assets, depreciation for the period | (628) | (574) |
Land and buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Right-of-use assets, net carrying amount | 1,640 | 1,696 |
Right-of-use assets, depreciation for the period | (398) | (373) |
Machinery, equipment and other [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Right-of-use assets, net carrying amount | 786 | 523 |
Right-of-use assets, depreciation for the period | $ (230) | $ (201) |
Goodwill - Reconciliation of Go
Goodwill - Reconciliation of Goodwill (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill beginning balance | $ 115,796 | |
Goodwill ending balance | 113,010 | $ 115,796 |
Acquisition cost [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill beginning balance | 118,461 | 123,702 |
Effect of movements in foreign exchange | (3,147) | (5,456) |
Disposals through the sale of subsidiaries | (32) | |
Transfers (to)/from other asset categories | (68) | 18 |
Hyperinflation monetary adjustments | 328 | 196 |
Goodwill ending balance | 115,541 | 118,461 |
Impairment losses [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill beginning balance | (2,665) | (2,731) |
Effect of movements in foreign exchange | 134 | 66 |
Goodwill ending balance | $ (2,531) | $ (2,665) |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of reconciliation of changes in goodwill [line items] | |
Cost to sell expected to reach as percentage of entity value | 2% |
Goodwill [member] | Weighted average cost of capital, measurement input [member] | |
Disclosure of reconciliation of changes in goodwill [line items] | |
Percentage of reasonably possible increase in unobservable input,assets | 1% |
Bottom of range [member] | |
Disclosure of reconciliation of changes in goodwill [line items] | |
Growth rate used to extrapolate cash flow projections | 2% |
Top of range [member] | |
Disclosure of reconciliation of changes in goodwill [line items] | |
Growth rate used to extrapolate cash flow projections | 6% |
AB inBev [member] | |
Disclosure of reconciliation of changes in goodwill [line items] | |
Percentage of goodwill to total assets | 53% |
Goodwill - Summary of Carrying
Goodwill - Summary of Carrying Amount of Goodwill Allocated to Different Cash-generating Units (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | $ 113,010 | $ 115,796 |
United States [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 33,578 | 33,607 |
Rest of North America [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 1,981 | 2,114 |
Mexico [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 12,823 | 12,062 |
Colombia [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 12,692 | 15,344 |
Rest of Middle Americas [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 23,242 | 22,769 |
Brazil [Member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 3,508 | 3,280 |
Rest of South America [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 1,249 | 1,173 |
Europe [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 2,081 | 2,244 |
South Africa [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 9,551 | 10,231 |
Rest of Africa [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 5,131 | 5,287 |
China [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 3,119 | 3,387 |
Rest of Asia Pacific [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 3,505 | 3,717 |
Global Export and Holding Companies [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | $ 549 | $ 582 |
Goodwill - Summary of Weighted
Goodwill - Summary of Weighted Average Cost of Capital (Detail) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Colombia [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Weighted average cost of capital | 8% | 6% |
Rest of Middle Americas [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Weighted average cost of capital | 9% | 10% |
South Africa [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Weighted average cost of capital | 9% | 8% |
Rest of Africa [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Weighted average cost of capital | 15% | 10% |
Rest Of Asia Pacific [Member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Weighted average cost of capital | 7% | 6% |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | $ 40,430 | |
Impairment | (4) | $ (176) |
Balance at end of period | 40,209 | 40,430 |
Amortization and impairment losses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | (4,585) | (4,358) |
Effect of movements in foreign exchange | 100 | 192 |
Amortization | (647) | (644) |
Impairment | (4) | (176) |
Disposals through sale and derecognition | 1,339 | 73 |
Disposals through the sale of subsidiaries | 3 | |
Transfer (to)/from other asset categories and other movements | (164) | 326 |
Balance at end of period | (3,961) | (4,585) |
Acquisition cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 45,015 | 45,885 |
Effect of movements in foreign exchange | (751) | (1,289) |
Acquisitions and expenditures | 978 | 760 |
Disposals through sale and derecognition | (1,437) | (98) |
Disposals through the sale of subsidiaries | (3) | |
Transfer (to)/from other asset categories and other movements | 365 | (240) |
Balance at end of period | 44,170 | 45,015 |
Brands [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 38,320 | |
Balance at end of period | 37,652 | 38,320 |
Brands [member] | Amortization and impairment losses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | (89) | |
Effect of movements in foreign exchange | 1 | |
Balance at end of period | (88) | (89) |
Brands [member] | Acquisition cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 38,409 | |
Effect of movements in foreign exchange | (568) | |
Acquisitions and expenditures | 11 | |
Disposals through sale and derecognition | (93) | |
Transfer (to)/from other asset categories and other movements | (19) | |
Balance at end of period | 37,741 | 38,409 |
Commercial intangibles [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 750 | |
Balance at end of period | 779 | 750 |
Commercial intangibles [member] | Amortization and impairment losses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | (2,082) | |
Effect of movements in foreign exchange | 18 | |
Amortization | (141) | |
Disposals through sale and derecognition | 1,058 | |
Transfer (to)/from other asset categories and other movements | (100) | |
Balance at end of period | (1,247) | (2,082) |
Commercial intangibles [member] | Acquisition cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 2,832 | |
Effect of movements in foreign exchange | (22) | |
Acquisitions and expenditures | 221 | |
Disposals through sale and derecognition | (1,058) | |
Transfer (to)/from other asset categories and other movements | 53 | |
Balance at end of period | 2,026 | 2,832 |
Software [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 1,056 | |
Balance at end of period | 1,473 | 1,056 |
Software [member] | Amortization and impairment losses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | (2,381) | |
Effect of movements in foreign exchange | 77 | |
Amortization | (479) | |
Impairment | (3) | |
Disposals through sale and derecognition | 271 | |
Transfer (to)/from other asset categories and other movements | (62) | |
Balance at end of period | (2,577) | (2,381) |
Software [member] | Acquisition cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 3,437 | |
Effect of movements in foreign exchange | (114) | |
Acquisitions and expenditures | 497 | |
Disposals through sale and derecognition | (272) | |
Transfer (to)/from other asset categories and other movements | 502 | |
Balance at end of period | 4,050 | 3,437 |
Other [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 304 | |
Balance at end of period | 305 | 304 |
Other [member] | Amortization and impairment losses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | (33) | |
Effect of movements in foreign exchange | 4 | |
Amortization | (27) | |
Impairment | (1) | |
Disposals through sale and derecognition | 10 | |
Transfer (to)/from other asset categories and other movements | (2) | |
Balance at end of period | (49) | (33) |
Other [member] | Acquisition cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balance at end of previous year | 337 | |
Effect of movements in foreign exchange | (47) | |
Acquisitions and expenditures | 249 | |
Disposals through sale and derecognition | (15) | |
Transfer (to)/from other asset categories and other movements | (171) | |
Balance at end of period | $ 354 | $ 337 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about intangible assets [line items] | ||
Carrying amount of intangible assets | $ 40,209 | $ 40,430 |
Impairment | (4) | (176) |
Intangible Assets Research And Development Expenses Expensed [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets expensed research and development | 268 | 298 |
Intangible Assets With Indefinite Useful Life [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Carrying amount of intangible assets | 37,652 | 38,320 |
Intangible Assets With Finite Useful Life [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Carrying amount of intangible assets | $ 2,557 | $ 2,110 |
Intangible Assets - Summary o_2
Intangible Assets - Summary of Carrying Amount of Intangible Assets with Indefinite Useful Lives (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | $ 40,209 | $ 40,430 |
Intangible assets with indefinite useful lives [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 37,652 | 38,320 |
Intangible assets with indefinite useful lives [member] | United States [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 21,979 | 22,129 |
Intangible assets with indefinite useful lives [member] | Rest of North America [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 40 | 42 |
Intangible assets with indefinite useful lives [member] | Mexico [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 3,166 | 2,977 |
Intangible assets with indefinite useful lives [member] | Colombia [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 2,374 | 2,870 |
Intangible assets with indefinite useful lives [member] | Rest of Middle Americas [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 3,531 | 3,432 |
Intangible assets with indefinite useful lives [member] | Rest of South America [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 767 | 724 |
Intangible assets with indefinite useful lives [member] | Europe [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 423 | 452 |
Intangible assets with indefinite useful lives [member] | South Africa [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 2,847 | 3,029 |
Intangible assets with indefinite useful lives [member] | Rest of Africa [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 1,072 | 1,112 |
Intangible assets with indefinite useful lives [member] | China [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | 405 | 440 |
Intangible assets with indefinite useful lives [member] | Rest of Asia Pacific [member] | ||
Disclosure of intangible assets with indefinite useful life [line items] | ||
Intangible assets | $ 1,048 | $ 1,113 |
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, 2022 | Dec. 31, 2021 | |
Disclosure of associates [line items] | ||
Beginning balance | $ 5,874 | |
Ending balance | 4,656 | $ 5,874 |
AB InBev Efes [member] | ||
Disclosure of associates [line items] | ||
Beginning balance | 1,143 | 1,135 |
Share of results of associates | 7 | |
Exceptional share of results of associates | (1,143) | |
Ending balance | 0 | 1,143 |
Castel [member] | ||
Disclosure of associates [line items] | ||
Beginning balance | 3,400 | 3,566 |
Effect of movements in foreign exchange | (172) | (246) |
Dividends received | (87) | (36) |
Share of results of associates | 152 | 116 |
Ending balance | 3,293 | 3,400 |
Anadolu Efes [member] | ||
Disclosure of associates [line items] | ||
Beginning balance | 201 | 391 |
Effect of movements in foreign exchange | (57) | (159) |
Dividends received | (14) | (67) |
Share of results of associates | 41 | 35 |
Ending balance | $ 171 | $ 201 |
Investments in Associates - Add
Investments in Associates - Additional Information (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Disclosure of associates [line items] | |||
Investment in associates | $ 4,656 | $ 5,874 | |
Exceptional share of results of associates | (1,143) | ||
Anadolu Efes [member] | |||
Disclosure of associates [line items] | |||
Investment in associates | $ 171 | 201 | $ 391 |
Anadolu Efes [member] | Turkish Lira [member] | |||
Disclosure of associates [line items] | |||
Closing foreign exchange rate | 18,718,236 | ||
Aggregated individually immaterial associates [member] | |||
Disclosure of associates [line items] | |||
Investment in associates | $ 106 | $ 90 | $ 45 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of summarized financial information [line items] | |||||
Current assets | $ 23,186 | $ 23,949 | |||
Non-current assets | 189,757 | 193,678 | |||
Current liabilities | (34,383) | (34,184) | |||
Non-current liabilities | (94,282) | (104,104) | |||
Non-controlling interests | 10,880 | 10,671 | |||
Revenue | 57,786 | 54,304 | [1] | $ 46,881 | [1] |
Profit (loss) | 7,597 | 6,114 | [1] | 147 | [1] |
Other comprehensive income (loss) | (1,315) | (3,881) | [1] | (10,104) | [1] |
Total comprehensive income/(loss) | 6,283 | 2,233 | $ (7,901) | ||
AB InBev Efes [member] | |||||
Disclosure of summarized financial information [line items] | |||||
Current assets | 385 | ||||
Non-current assets | 624 | ||||
Current liabilities | (693) | ||||
Non-current liabilities | (42) | ||||
Net assets | 274 | ||||
Revenue | 1,393 | ||||
Profit (loss) | 1 | ||||
Total comprehensive income/(loss) | 1 | ||||
Castel [member] | |||||
Disclosure of summarized financial information [line items] | |||||
Current assets | 3,399 | 3,016 | |||
Non-current assets | 3,679 | 3,923 | |||
Current liabilities | (1,803) | (1,774) | |||
Non-current liabilities | (439) | (499) | |||
Non-controlling interests | (564) | (543) | |||
Net assets | 4,272 | 4,124 | |||
Revenue | 4,942 | 5,017 | |||
Profit (loss) | 767 | 741 | |||
Other comprehensive income (loss) | 74 | (295) | |||
Total comprehensive income/(loss) | 841 | 447 | |||
Anadolu Efes [member] | |||||
Disclosure of summarized financial information [line items] | |||||
Current assets | 2,973 | 1,500 | |||
Non-current assets | 4,654 | 3,157 | |||
Current liabilities | (2,581) | (1,259) | |||
Non-current liabilities | (1,767) | (1,218) | |||
Non-controlling interests | (1,789) | (1,128) | |||
Net assets | 1,490 | 1,053 | |||
Revenue | 4,222 | 3,781 | |||
Profit (loss) | 287 | 275 | |||
Other comprehensive income (loss) | 1,503 | 241 | |||
Total comprehensive income/(loss) | $ 1,790 | $ 516 | |||
[1]Amended to conform to 2022 presentation. |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Deferred Taxes [line items] | ||||
Assets | $ 2,300 | $ 1,969 | ||
Liabilities | (11,818) | (12,204) | ||
Net | (9,518) | (10,235) | $ (10,607) | $ (11,105) |
Netting by taxable entity, Assets | (1,874) | (1,743) | ||
Netting by taxable entity, Liabilities | 1,874 | 1,743 | ||
Net deferred tax assets/(liabilities), Assets | 2,300 | 1,969 | ||
Net deferred tax assets/(liabilities), Liabilities | (11,817) | (12,204) | ||
Net deferred tax assets/(liabilities), Net | (9,518) | (10,235) | ||
Property, Plant and Equipment [member] | ||||
Disclosure Of Deferred Taxes [line items] | ||||
Assets | 191 | 91 | ||
Liabilities | (2,071) | (2,113) | ||
Net | (1,880) | (2,023) | ||
Intangibles [member] | ||||
Disclosure Of Deferred Taxes [line items] | ||||
Assets | 89 | 60 | ||
Liabilities | (9,582) | (9,796) | ||
Net | (9,492) | (9,736) | ||
Inventory [member] | ||||
Disclosure Of Deferred Taxes [line items] | ||||
Assets | 102 | 88 | ||
Liabilities | (90) | (66) | ||
Net | 12 | 22 | ||
Trades and Other Receivables [member] | ||||
Disclosure Of Deferred Taxes [line items] | ||||
Assets | 51 | 48 | ||
Net | 51 | 48 | ||
Interest Bearing Loans and Borrowings [member] | ||||
Disclosure Of Deferred Taxes [line items] | ||||
Assets | 852 | 905 | ||
Liabilities | (657) | (628) | ||
Net | 195 | 277 | ||
Employee Benefits [member] | ||||
Disclosure Of Deferred Taxes [line items] | ||||
Assets | 433 | 577 | ||
Liabilities | (9) | (8) | ||
Net | 423 | 569 | ||
Provisions [member] | ||||
Disclosure Of Deferred Taxes [line items] | ||||
Assets | 533 | 511 | ||
Liabilities | (56) | (19) | ||
Net | 477 | 492 | ||
Derivatives [member] | ||||
Disclosure Of Deferred Taxes [line items] | ||||
Assets | 51 | 11 | ||
Liabilities | (61) | (118) | ||
Net | (10) | (107) | ||
Other Items [member] | ||||
Disclosure Of Deferred Taxes [line items] | ||||
Assets | 532 | 407 | ||
Liabilities | (1,166) | (1,198) | ||
Net | (634) | (792) | ||
Loss Carry Forwards [member] | ||||
Disclosure Of Deferred Taxes [line items] | ||||
Assets | 1,341 | 1,015 | ||
Net | 1,341 | 1,015 | ||
Gross Deferred Tax Assets/(Liabilities) [member] | ||||
Disclosure Of Deferred Taxes [line items] | ||||
Assets | 4,175 | 3,713 | ||
Liabilities | (13,693) | (13,947) | ||
Net | $ (9,518) | $ (10,235) |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Deferred Taxes [line items] | |||
Beginning balance | $ (10,235) | $ (10,607) | $ (11,105) |
Recognized in profit or loss | 701 | 348 | 32 |
Recognized in other comprehensive income | (177) | (167) | 361 |
Other movements and effect of changes in foreign exchange rates | 193 | 190 | 105 |
Ending balance | $ (9,518) | $ (10,235) | $ (10,607) |
Deferred Tax Assets and Liabi_5
Deferred Tax Assets and Liabilities - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Components Of Deferred Tax Assets And Liabilities [line items] | ||
Net deferred tax liabilities | $ 11,817 | $ 12,204 |
Unrecognized tax attributes amount | 44,500 | 27,900 |
Deferred tax assets unrecognized on the basis of tax attributes [Member] | ||
Disclosure Of Components Of Deferred Tax Assets And Liabilities [line items] | ||
Tax losses | 11,000 | $ 6,900 |
Expiration period 1 [member] | ||
Disclosure Of Components Of Deferred Tax Assets And Liabilities [line items] | ||
Tax losses carried forward and deductible temporary differences | $ 100 | |
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 | $ 200 | |
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 | $ 200 | |
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 | $ 42,700 | |
Tax losses carried forward and deductible temporary differences | 1,400 | |
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 | $ 6,400 |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Inventories other than work in progress | ||
Inventories stated at net realizable value | $ 395 | $ 368 |
Current Inventories [member] | ||
Disclosure of inventories [line items] | ||
Prepayments | 87 | 115 |
Raw materials and consumables | 3,851 | 3,072 |
Work in progress | 529 | 451 |
Finished goods | 1,837 | 1,537 |
Goods purchased for resale | 308 | 224 |
Inventories | $ 6,612 | $ 5,399 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Classes of current inventories [abstract] | |||||
Cost of inventories sales | $ 26,305 | $ 23,097 | [1] | $ 19,634 | [1] |
Impairment losses on inventories | $ 148 | $ 91 | $ 117 | ||
[1]Amended to conform to 2022 presentation. |
Trade and Other Receivables - S
Trade and Other Receivables - Schedule of Non-Current Trade and Other Receivables (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of trade and other receivables [abstract] | ||
Cash deposits for guarantees | $ 189 | $ 168 |
Loans to customers | 10 | 17 |
Tax receivable, other than income tax | 137 | 116 |
Brazilian tax credits and interest receivables | 1,149 | 960 |
Trade and other receivables | 298 | 319 |
Non-current trade and other receivables | $ 1,782 | $ 1,580 |
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, 2022 | Dec. 31, 2021 |
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | $ 3,637 | $ 3,465 |
Interest receivables | 67 | 18 |
Tax receivable, other than income tax | 444 | 593 |
Loans to customers | 71 | 99 |
Prepaid expenses | 410 | 350 |
Other receivables | 702 | 521 |
Current trade and other receivable | $ 5,330 | $ 5,046 |
Trade and Other Receivables -_3
Trade and Other Receivables - Schedule of Trade Receivables and Other Receivables (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Net carrying amount [member] | ||
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | $ 3,637 | $ 3,465 |
Loans to customers | 81 | 117 |
Interest receivable | 67 | 18 |
Other receivables | 702 | 521 |
Current trade and other receivable | 4,487 | 4,120 |
Of Which: Neither Impaired Nor Past Due on the Reporting Date [member] | ||
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | 3,418 | 3,223 |
Loans to customers | 78 | 83 |
Interest receivable | 67 | 18 |
Other receivables | 684 | 513 |
Current trade and other receivable | 4,247 | 3,836 |
Of Which 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 | 151 | 164 |
Loans to customers | 1 | 2 |
Other receivables | 11 | 2 |
Current trade and other receivable | 162 | 167 |
Of Which 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 | 41 | 62 |
Loans to customers | 1 | 2 |
Other receivables | 4 | 1 |
Current trade and other receivable | 46 | 65 |
Of Which 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 | 24 | 11 |
Loans to customers | 1 | 31 |
Other receivables | 3 | 2 |
Current trade and other receivable | 28 | 44 |
Of Which 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 | 4 | 5 |
Other receivables | 0 | 3 |
Current trade and other receivable | $ 4 | $ 8 |
Trade and Other Receivables - A
Trade and Other Receivables - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of inventories [line items] | |||
Brazilian tax credits and interest receivables | $ 1,149 | $ 960 | |
Trade receivables [member] | |||
Disclosure of inventories [line items] | |||
Impairment losses | $ 38 | $ 36 | $ 99 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | [1] | Dec. 31, 2019 | [1] | |
Disclosure of detailed information about borrowings [abstract] | |||||||
Short-term bank deposits | $ 4,685 | $ 6,542 | |||||
Treasury Bills | 0 | 1,050 | |||||
Cash and bank accounts | 5,288 | 4,505 | |||||
Cash and cash equivalents | 9,973 | 12,097 | |||||
Bank overdrafts | (83) | (53) | |||||
Total | $ 9,890 | $ 12,043 | [1] | $ 15,247 | $ 7,169 | ||
[1]Amended to conform to 2022 presentation. |
Cash and cash equivalents and_4
Cash and cash equivalents and investment securities - Summary of Investments in Short-Term Debt Securities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of detailed information about borrowings [abstract] | ||
Investment in unquoted companies | $ 149 | $ 139 |
Investment on debt securities | 26 | 22 |
Non-current investments | 175 | 161 |
Investment on debt securities | 97 | 374 |
Current investments | $ 97 | $ 374 |
Cash and Cash Equivalents and_5
Cash and Cash Equivalents and Investment Securities - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of detailed information about borrowings [line items] | ||
Restricted cash | $ 73 | $ 78 |
Amounts deposited on a blocked account | (72) | |
Current debt securities | 97 | 374 |
Debt securities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Current debt securities | 97 | $ 374 |
Share Holder [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Cash acquired in business combination | $ (1) |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
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 | $ 95 | $ 81 | $ 385 |
Ordinary shares [member] | |||
Disclosure of classes of share capital [line items] | |||
At the end of the current year | 1,737,000,000 | ||
Ordinary shares | 1,737,000,000 | ||
Treasury shares [member] | |||
Disclosure of classes of share capital [line items] | |||
Restricted shares | 282,050,690 | 282,107,042 | |
At the end of the previous year | 38,200,000 | ||
Changes during the period | (2,800,000) | ||
At the end of the current year | 35,500,000 | 38,200,000 | |
Result on the use of treasury shares [member] | |||
Disclosure of classes of share capital [line items] | |||
At the end of the previous year | $ (4,366) | ||
Changes during the period | (193) | ||
At the end of the current year | (4,559) | $ (4,366) | |
Treasury shares [member] | |||
Disclosure of classes of share capital [line items] | |||
At the end of the previous year | (3,994) | ||
Changes during the period | 289 | 917 | $ 1,359 |
At the end of the current year | $ (3,706) | $ (3,994) |
Changes in Equity and Earning_4
Changes in Equity and Earnings per Share - Additional Information (Detail) | 12 Months Ended | |||||||||
Mar. 01, 2023 EUR (€) € / shares | Dec. 31, 2023 | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) shares | Dec. 31, 2022 EUR (€) € / shares shares | Apr. 27, 2022 EUR (€) € / shares | May 24, 2021 € / shares | Apr. 28, 2021 EUR (€) € / shares | ||
Disclosure of classes of share capital [line items] | ||||||||||
Issued capital | $ | $ 1,736,000,000 | $ 1,736,000,000 | ||||||||
Number of shares issued | 1,981,000,000 | 1,972,000,000 | 1,959,000,000 | 1,981,000,000 | ||||||
Number of shares outstanding | 2,019,000,000 | 2,019,000,000 | 2,019,000,000 | |||||||
Dividend declared | € | € 1,004,000,000 | € 1,003,000,000 | ||||||||
Dividend declared date | Mar. 01, 2023 | Apr. 28, 2021 | ||||||||
Dividend paid date | Apr. 26, 2023 | May 05, 2022 | May 06, 2021 | |||||||
Profit attributable to equity holders | $ | $ 5,969,000,000 | $ 4,670,000,000 | $ 1,405,000,000 | |||||||
Diluted earnings per share based on the profit | $ | $ 5,969,000,000 | $ 4,670,000,000 | $ 1,405,000,000 | |||||||
Number of antidilutive share options outstanding | 51,000,000 | 68,000,000 | 76,000,000 | 51,000,000 | ||||||
Sale/(purchase) of non-controlling interest | $ | [1] | $ 2,985,000,000 | ||||||||
Number Of Shares Settlement | 5,100,000 | |||||||||
Dividend payout date | Apr. 26, 2023 | Apr. 27, 2022 | ||||||||
South Africa, Rand | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Closing foreign exchange rate | 16.968472 | 15.947907 | 14.686598 | 16.968472 | ||||||
Euro [member] | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Closing foreign exchange rate | 0.937559 | 0.882924 | 0.81493 | 0.937559 | 17.0064 | |||||
Dividend Proposed [Member] | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Dividend proposed per share | € / shares | € 75 | € 0.5 | € 0.5 | |||||||
Dividend proposed | € | € 1,508,000,000 | |||||||||
Apollo Global Management Inc [Member] | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Percentage of minority interest sold | 49.90% | |||||||||
Proceeds from sales of investments accounted for using equity method | $ | $ 3,000,000,000 | |||||||||
Australia Divestiture [Member] | South Africa, Rand | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Closing Share Price | € / shares | € 62.26 | |||||||||
Treasury shares [member] | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Restricted shares | 282,050,690 | 282,107,042 | ||||||||
Par value per share | € / shares | € 0.61 | |||||||||
Subscribed capital | $ 26,539,776 | € 21,628,060 | ||||||||
Number Of Treasury Shares Reimbursed | 35,455,836 | 35,455,836 | ||||||||
SAB Combination [Member] | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Number of restricted shares issued | 326,000,000 | |||||||||
Number of restricted shares converted into ordinary shares | 44,000,000 | |||||||||
SAB Miller [member] | Sab Zenzele Holdings [Member] | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Percentage Of Obligations Due To Be Settled To The The Beneficiaries Of The Share Scheme | 77.40% | 77.40% | ||||||||
Reserves [member] | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Sale/(purchase) of non-controlling interest | $ | [2] | 1,116,000,000 | ||||||||
Non-controlling interests [member] | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Sale/(purchase) of non-controlling interest | $ | [1] | 1,869,000,000 | ||||||||
Equity attributable to owners of parent [member] | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Exchange differences on translation of foreign operations (gains/(losses)) | $ | $ 1,123,000,000 | |||||||||
Sale/(purchase) of non-controlling interest | $ | [1] | $ 1,116,000,000 | ||||||||
Top of range [member] | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Tax withholding percentage | 15% | |||||||||
Parent [member] | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Issued capital | $ 1,736,000,000 | € 1,238,608,344,120,000 | ||||||||
Equity shares | 35,455,836 | 35,455,836 | ||||||||
Number of shares authorized | 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 | 30,000,000 | 30,000,000 | ||||||||
Parent [member] | Treasury shares [member] | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Number of shares outstanding | 34,817,843 | 34,817,843 | ||||||||
[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 21 Changes in equity and earnings per share for more details).[2]Amended to conform to 2022 presentation. |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other comprehensive income/(loss) | |||
Re-measurements of post-employment benefits | $ 519 | $ 504 | $ (263) |
Other comprehensive income/(loss) | 6,283 | 2,233 | (7,901) |
Translation reserves [member] | |||
Disclosure of information about changes in other comprehensive income reserves [line items] | |||
Beginning balance | (33,554) | (29,234) | (19,936) |
Other comprehensive income/(loss) | |||
Exchange differences on translation of foreign operations (gains/(losses)) | (1,123) | (4,320) | (9,943) |
Cash flow hedges | 645 | ||
Other comprehensive income/(loss) | (1,123) | (4,320) | (9,298) |
Ending balance | (34,677) | (33,554) | (29,234) |
Hedging reserves [member] | |||
Disclosure of information about changes in other comprehensive income reserves [line items] | |||
Beginning balance | 481 | 376 | 397 |
Other comprehensive income/(loss) | |||
Cash flow hedges | (336) | 105 | (21) |
Other comprehensive income/(loss) | (336) | 105 | (21) |
Ending balance | 145 | 481 | 376 |
Post- employment benefits [member] | |||
Disclosure of information about changes in other comprehensive income reserves [line items] | |||
Beginning balance | (1,504) | (1,983) | (1,740) |
Other comprehensive income/(loss) | |||
Re-measurements of post-employment benefits | 483 | 479 | (243) |
Other comprehensive income/(loss) | 483 | 479 | (243) |
Ending balance | (1,021) | (1,504) | (1,983) |
OCI reserves [member] | |||
Disclosure of information about changes in other comprehensive income reserves [line items] | |||
Beginning balance | (34,577) | (30,841) | (21,279) |
Other comprehensive income/(loss) | |||
Exchange differences on translation of foreign operations (gains/(losses)) | (1,123) | (4,320) | (9,943) |
Cash flow hedges | (336) | 105 | 624 |
Re-measurements of post-employment benefits | 483 | 479 | (243) |
Other comprehensive income/(loss) | (976) | (3,736) | (9,562) |
Ending balance | $ (35,553) | $ (34,577) | $ (30,841) |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
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 | 1,981 | 1,972 | 1,959 | ||
Effect of stock lending | 30 | 30 | 30 | ||
Effect of delivery of treasury shares | 2 | 4 | 9 | ||
Weighted average number of ordinary and restricted shares at 31 December | 2,013 | 2,007 | 1,998 | ||
Effect of share options, warrants and restricted stock units | 37 | 38 | 39 | ||
Weighted average number of ordinary and restricted shares (diluted) at 31 December | 2,050 | 2,045 | 2,037 | ||
Profit attributable to equity holders of AB InBev | $ 5,969 | $ 4,670 | [1] | $ 1,405 | [1] |
Profit from discontinued operations (refer to Note 21) | 0 | 0 | [1] | (2,055) | [1] |
Mark-to-market (losses)/gains on certain derivatives related to the hedging of share-based payment programs (refer to Note 11) | (331) | 23 | 1,211 | ||
Hyperinflation impacts | (30) | 28 | 4 | ||
Underlying profit | 6,093 | 5,774 | 5,022 | ||
Net impact of exceptional items on profit (refer to Note 8) | 484 | 1,054 | 4,458 | ||
Profit before exceptional items, attributable to equity holders of AB InBev | $ 6,454 | $ 5,723 | $ 3,807 | ||
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 | 2,013 | 2,007 | 1,998 | ||
[1]Amended to conform to 2022 presentation. |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Earnings per share [abstract] | |||||
Profit attributable to equity holders of AB InBev | $ 5,969 | $ 4,670 | $ 1,405 | ||
Weighted average number of ordinary and restricted shares | 2,013 | 2,007 | 1,998 | ||
Basic EPS from continuing and discontinued operations | $ 2.97 | $ 2.33 | [1] | $ 0.7 | [1] |
Profit/(loss) from continuing operations attributable to equity holders of AB InBev | $ 5,969 | $ 4,670 | $ (650) | ||
Weighted average number of ordinary and restricted shares | 2,013 | 2,007 | 1,998 | ||
Basic EPS from continuing operations | $ 2.97 | $ 2.33 | [1] | $ (0.33) | [1] |
Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev | $ 6,454 | $ 5,723 | $ 3,807 | ||
Weighted average number of ordinary and restricted shares | 2,013 | 2,007 | 1,998 | ||
Basic EPS from continuing operations before exceptional items | $ 3.21 | $ 2.85 | $ 1.91 | ||
Underlying profit | $ 6,093 | $ 5,774 | $ 5,022 | ||
Weighted average number of ordinary and restricted shares | 2,013 | 2,007 | 1,998 | ||
Underlying EPS | $ 3.03 | $ 2.88 | $ 2.51 | ||
Profit attributable to equity holders of AB InBev | $ 5,969 | $ 4,670 | $ 1,405 | ||
Weighted average number of ordinary and restricted shares (diluted) | 2,050 | 2,045 | 2,037 | ||
Diluted EPS from continuing and discontinued operations | $ 2.91 | $ 2.28 | [1] | $ 0.69 | [1] |
Profit/(loss) from continuing operations attributable to equity holders of AB InBev | $ 5,969 | $ 4,670 | $ (650) | ||
Weighted average number of ordinary and restricted shares (diluted) | 2,050 | 2,045 | 1,998 | ||
Diluted EPS from continuing operations | $ 2.91 | $ 2.28 | [1] | $ (0.33) | [1] |
Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev | $ 6,454 | $ 5,723 | $ 3,807 | ||
Weighted average number of ordinary and restricted shares (diluted) | 2,050 | 2,045 | 2,037 | ||
Diluted EPS from continuing operations before exceptional items | $ 3.15 | $ 2.8 | $ 1.87 | ||
[1]Amended to conform to 2022 presentation. |
Interest-Bearing Loans and Bo_3
Interest-Bearing Loans and Borrowings - Summary of Interest-bearing Loans and Borrowings (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
AB inBev [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest-bearing loans and borrowings | $ 79,909 | $ 88,777 |
Non-Current Liabilities [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Unsecured bond issues | 76,798 | 85,433 |
Lease liabilities | 1,963 | 1,830 |
Unsecured other loans | 95 | 31 |
Secured bank loans | 24 | 75 |
Non-current interest-bearing loans and borrowings | 78,880 | 87,369 |
Current Liabilities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Lease liabilities | 529 | 447 |
Secured bank loans | 369 | 553 |
Unsecured bank loans | 100 | 106 |
Unsecured other loans | 30 | 9 |
Unsecured bond issues | 0 | 293 |
Current interest-bearing loans and borrowings | $ 1,029 | $ 1,408 |
Interest-Bearing Loans and Bo_4
Interest-Bearing Loans and Borrowings - Additional Information (Detail) $ in Millions, € in Billions | 12 Months Ended | |||||||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | [1] | Dec. 31, 2022 EUR (€) | Dec. 02, 2022 USD ($) | Jan. 10, 2022 USD ($) | ||
Disclosure of detailed information about borrowings [line items] | ||||||||
Commercial papers | $ 0 | $ 0 | ||||||
Commercial papers authorized amount | 5,000 | € 3 | ||||||
Payments of dividends | 2,442 | 2,364 | [1] | $ 1,800 | ||||
Principal Amount Payable On Redemption | $ 3,100 | |||||||
Twelve Series of USD Notes and Two Series of GBP Notes [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Aggregate Purchase Price Received Upon Completion of Tender Offer | $ 3,500 | |||||||
Eight Series Notes [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Notional amount | $ 3,900 | |||||||
Ambev [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Net increased decreased debt | 69,700 | 76,200 | ||||||
Impact of changes in foreign exchange rates | 1,500 | |||||||
Payments of dividends | 2,400 | |||||||
AB inBev [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Current and non-current interest-bearing loans and borrowings | 79,909 | $ 88,777 | ||||||
Payment of interests and taxes | $ 6,100 | |||||||
[1]Amended to conform to 2022 presentation. |
Interest-Bearing Loans and Bo_5
Interest-Bearing Loans and Borrowings - Summary of Redemption in Outstanding Principal Amount of Notes (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
3.650% Notes due 2026 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Feb. 09, 2022 |
Issuer | ABIFI |
Title of series of notes issued exchanged percentage | 3.65% |
Title of series of notes issued exchanged due maturity period | Notes due 2026 |
Currency | USD |
Aggregate principal amount outstanding | $ 1,633 |
Principal amount redeemed | $ 1,633 |
4.915% Notes due 2046 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Date of redemption | Mar. 01, 2022 |
Issuer | ABIFI |
Title of series of notes issued exchanged percentage | 4.915% |
Title of series of notes issued exchanged due maturity period | Notes due 2046 |
Currency | USD |
Aggregate principal amount outstanding | $ 1,470 |
Principal amount redeemed | $ 1,470 |
Interest-Bearing Loans and Bo_6
Interest-Bearing Loans and Borrowings - Summary of Total Principal Amount Repurchased in the Tender Offer (Detail) £ in Millions, $ in Millions | Dec. 02, 2022 GBP (£) | Dec. 02, 2022 USD ($) |
2.850% Notes due 2037 | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of redemption | Dec. 02, 2022 | |
Issuer | ABISA | |
Title of series of notes partially repurchased | 2.85% | 2.85% |
Notes Repurchased Maturity Period | Notes due 2037 | |
Currency | GBP | |
Original principal amount outstanding | £ | £ 900 | |
Principal amount repurchased | £ | 489 | |
Principal amount not repurchased | £ | £ 411 | |
2.250% Notes due 2029 | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of redemption | Dec. 02, 2022 | |
Issuer | ABISA | |
Title of series of notes partially repurchased | 2.25% | 2.25% |
Notes Repurchased Maturity Period | Notes due 2029 | |
Currency | GBP | |
Original principal amount outstanding | £ | £ 700 | |
Principal amount repurchased | £ | 363 | |
Principal amount not repurchased | £ | £ 337 | |
4.000% Notes due 2043 | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of redemption | Dec. 02, 2022 | |
Issuer | ABIFI | |
Title of series of notes partially repurchased | 4% | 4% |
Notes Repurchased Maturity Period | Notes due 2043 | |
Currency | USD | |
Original principal amount outstanding | $ 750 | |
Principal amount repurchased | 346 | |
Principal amount not repurchased | $ 404 | |
3.750% Notes due 2042 | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of redemption | Dec. 02, 2022 | |
Issuer | ABIWW | |
Title of series of notes partially repurchased | 3.75% | 3.75% |
Notes Repurchased Maturity Period | Notes due 2042 | |
Currency | USD | |
Original principal amount outstanding | $ 1,000 | |
Principal amount repurchased | 529 | |
Principal amount not repurchased | $ 471 | |
4.600% Notes due 2060 | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of redemption | Dec. 02, 2022 | |
Issuer | ABIWW | |
Title of series of notes partially repurchased | 4.60% | 4.60% |
Notes Repurchased Maturity Period | Notes due 2060 | |
Currency | USD | |
Original principal amount outstanding | $ 1,000 | |
Principal amount repurchased | 503 | |
Principal amount not repurchased | $ 497 | |
4.500% Notes due 2050 | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of redemption | Dec. 02, 2022 | |
Issuer | ABIWW | |
Title of series of notes partially repurchased | 4.50% | 4.50% |
Notes Repurchased Maturity Period | Notes due 2050 | |
Currency | USD | |
Original principal amount outstanding | $ 2,250 | |
Principal amount repurchased | 683 | |
Principal amount not repurchased | $ 1,567 | |
4.750% Notes due 2058 | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of redemption | Dec. 02, 2022 | |
Issuer | ABIWW | |
Title of series of notes partially repurchased | 4.75% | 4.75% |
Notes Repurchased Maturity Period | Notes due 2058 | |
Currency | USD | |
Original principal amount outstanding | $ 1,500 | |
Principal amount repurchased | 519 | |
Principal amount not repurchased | $ 981 | |
4.600% Notes due 2048 | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of redemption | Dec. 02, 2022 | |
Issuer | ABIWW | |
Title of series of notes partially repurchased | 4.60% | 4.60% |
Notes Repurchased Maturity Period | Notes due 2048 | |
Currency | USD | |
Original principal amount outstanding | $ 2,500 | |
Principal amount repurchased | 321 | |
Principal amount not repurchased | $ 2,179 |
Interest-Bearing Loans and Bo_7
Interest-Bearing Loans and Borrowings - Summary of Reconciliation of Net Debt (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of Reconciliation of Net Cash Flow to Movement in Net Debt [Line Items] | ||
Bank overdrafts | $ 83 | $ 53 |
Cash and cash equivalents | (9,973) | (12,097) |
AB inBev [member] | ||
Disclosure of Reconciliation of Net Cash Flow to Movement in Net Debt [Line Items] | ||
Non-current interest-bearing loans and borrowings | 78,880 | 87,369 |
Current interest-bearing loans and borrowings | 1,029 | 1,408 |
Interest-bearing loans and borrowings | 79,909 | 88,777 |
Bank overdrafts | 83 | 53 |
Cash and cash equivalents | (9,973) | (12,097) |
Interest bearing loans granted and other deposits (included within Trade and other receivables) | (183) | (175) |
Debt securities (included within Investment securities) | (123) | (396) |
Net debt | $ 69,713 | $ 76,162 |
Interest-Bearing Loans and Bo_8
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||
Proceeds from borrowings | $ 91 | $ 454 | [1] | $ 14,822 | [1] |
Payments on borrowings | (7,265) | (8,965) | [1] | (23,116) | [1] |
Amortized cost | 101,975 | 110,073 | [1] | ||
Long-term debt, net of current portion [member] | |||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||
Balance beginning | 87,369 | 95,478 | 97,564 | ||
Proceeds from borrowings | 74 | 148 | 11,226 | ||
Payments on borrowings | (6,698) | (6,735) | (13,596) | ||
Capitalization / (payment) of lease liabilities | 794 | 697 | 394 | ||
Amortized cost | 63 | 64 | 71 | ||
Unrealized foreign exchange effects | (1,776) | (2,149) | 2,521 | ||
Current portion of long-term debt | (617) | (875) | (3,744) | ||
(Gain)/Loss on bond redemption and other movements | (329) | 741 | 1,042 | ||
Balance ending | 78,880 | 87,369 | 95,478 | ||
Short-term debt and current portion of long-term debt [member] | |||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||
Balance beginning | 1,408 | 3,081 | 5,410 | ||
Proceeds from borrowings | 17 | 306 | 3,596 | ||
Payments on borrowings | (567) | (2,230) | (9,520) | ||
Capitalization / (payment) of lease liabilities | (519) | (547) | (484) | ||
Amortized cost | 0 | 0 | 17 | ||
Unrealized foreign exchange effects | (6) | (88) | 241 | ||
Current portion of long-term debt | 617 | 875 | 3,744 | ||
(Gain)/Loss on bond redemption and other movements | 79 | 10 | 77 | ||
Balance ending | $ 1,029 | $ 1,408 | $ 3,081 | ||
[1]Amended to conform to 2022 presentation. |
Pension and similar obligatio_3
Pension and similar obligations - Additional Information (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Disclosure of defined benefit plans [line items] | |||
Number of defined benefit plans | 86 | ||
Present value of funded obligations | $ 4,604 | $ 6,791 | |
Employee benefit net | 1,523 | 2,256 | |
Fair value of the plan assets | 1,574 | ||
Actual return on plans assets resulting to gain (losses) | $ (927) | $ 334 | |
Weighted average duration of the benefit benefit obligation | 11 years 4 months 24 days | 13 years 8 months 12 days | |
Defined Benefit Plan [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined contribution plans | $ 164 | $ 147 | $ 91 |
Fair value of the plan assets | $ 2,287 | ||
Retirement or Leaving Service Plans [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Number of defined benefit plans | 64 | ||
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] | |||
Present value of funded obligations | $ 115 | ||
Other Long Term Employee Benefit Plans [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Number of defined benefit plans | 5 | ||
Active Employees [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Present value of funded obligations | $ 1,100 | ||
Deferred [member] | |||
Disclosure of defined benefit plans [line items] | |||
Present value of funded obligations | 900 | ||
Members in Retirement [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Present value of funded obligations | 3,200 | ||
Funded Defined Benefit Plans [member] | |||
Disclosure of defined benefit plans [line items] | |||
Expected contribution towards defined benefit plans | 182 | ||
Unfunded Defined Benefit Plans And Post Retirement Medical Plans [member] | |||
Disclosure of defined benefit plans [line items] | |||
Expected contribution towards defined benefit plans | $ 69 |
Pension and similar obligatio_4
Pension and similar obligations - Summary of Net Liability for Post-employment and Long-term Employee Benefit Plans (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of defined benefit plans [abstract] | ||||
Present value of funded obligations | $ (4,604) | $ (6,791) | ||
Fair value of plan assets | 3,807 | 5,381 | ||
Present value of net obligations for funded plans | (797) | (1,410) | ||
Present value of unfunded obligations | (587) | (687) | ||
Present value of net obligations | (1,384) | (2,097) | ||
Unrecognized asset | (43) | (32) | $ (31) | $ (74) |
Net liability | (1,427) | (2,129) | ||
Other long term employee benefits | (96) | (127) | ||
Net liability | (1,523) | (2,256) | ||
Employee benefits amounts in the statement of financial position: | ||||
Liabilities | (1,534) | (2,261) | ||
Assets | 11 | 5 | ||
Net liability | $ (1,523) | $ (2,256) |
Pension and similar obligatio_5
Pension and similar obligations - 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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of defined benefit plans [line items] | |||||
Defined benefit obligation at 1 January | $ 2,256 | ||||
Interest cost | (73) | $ (73) | [1] | $ (82) | [1] |
Actuarial gains/(losses) - demographic assumptions | 927 | (334) | |||
Defined benefit obligation at 31 December | 1,523 | 2,256 | |||
Present Value of Defined Benefit Obligation [Member] | |||||
Disclosure of defined benefit plans [line items] | |||||
Defined benefit obligation at 1 January | (7,478) | (8,496) | (8,143) | ||
Current service costs | (69) | (80) | (72) | ||
Interest cost | (229) | (212) | (250) | ||
Past service gain/(cost) | 0 | (5) | 16 | ||
Assets distributed on settlements | 114 | 176 | 153 | ||
Benefits paid | 549 | 553 | 519 | ||
Contribution by plan participants | (2) | (3) | (2) | ||
Actuarial gains/(losses) - demographic assumptions | (2) | (41) | 20 | ||
Actuarial gains/(losses) - financial assumptions | 1,854 | 460 | (690) | ||
Experience adjustments | (116) | 16 | (12) | ||
Exchange differences | 243 | 154 | (35) | ||
Transfers and other movements | (55) | 0 | 0 | ||
Defined benefit obligation at 31 December | (5,191) | (7,478) | (8,496) | ||
Plan Assets [Member] | |||||
Disclosure of defined benefit plans [line items] | |||||
Defined benefit obligation at 1 January | 5,381 | 5,649 | 5,442 | ||
Interest cost | 157 | 137 | 168 | ||
Administration costs | (17) | (19) | (19) | ||
Assets distributed on settlements | (112) | (172) | (146) | ||
Return on plan assets exceeding interest income | (1,084) | 197 | 332 | ||
Benefits paid | (551) | (553) | (519) | ||
Contributions by AB InBev | 220 | 241 | 394 | ||
Contribution by plan participants | 2 | 3 | 2 | ||
Exchange differences | (188) | (102) | (9) | ||
Transfers and other movements | (2) | 0 | 4 | ||
Defined benefit obligation at 31 December | $ 3,807 | $ 5,381 | $ 5,649 | ||
[1]Amended to conform to 2022 presentation. |
Pension and similar obligatio_6
Pension and similar obligations - Summary of Changes in Unrecognized Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of changes in unrecognized assets of defined benefit plans [abstract] | |||
Irrecoverable surplus impact at 1 January | $ (32) | $ (31) | $ (74) |
Interest expense | (3) | (2) | (4) |
Changes excluding amounts included in interest expense | (8) | 1 | 47 |
Irrecoverable surplus impact at 31 December | $ (43) | $ (32) | $ (31) |
Pension and similar obligatio_7
Pension and similar obligations - Summary of Employee Benefit Expense Recognized in Income Statement (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Employee Benefit Expenses [line items] | |||
Total employee benefit expense | $ (154) | $ (176) | $ (156) |
Cost of sales [member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Total employee benefit expense | (25) | (30) | (28) |
Distribution expenses [member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Total employee benefit expense | (11) | (11) | (9) |
Sales and marketing expenses [member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Total employee benefit expense | (17) | (24) | (18) |
Administrative expenses [member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Total employee benefit expense | (28) | (34) | (20) |
Other Operating (Expense)/Income [Member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Total employee benefit expense | 0 | (1) | (1) |
Exceptional items [member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Total employee benefit expense | 0 | 0 | 7 |
Net Finance Cost [Member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Total employee benefit expense | (73) | (76) | (87) |
Defined Benefit Plan [Member] | |||
Disclosure Of Employee Benefit Expenses [line items] | |||
Current service costs | (66) | (80) | (72) |
Administration costs | (17) | (19) | (19) |
Past service cost due to plan amendments, curtailments or settlements | 2 | (2) | 16 |
(Losses)/gains due to experience and demographic assumption changes | 0 | 1 | 6 |
Profit from operations | (81) | (100) | (69) |
Net finance cost | (73) | (76) | (87) |
Total employee benefit expense | $ (154) | $ (176) | $ (156) |
Pension and similar obligatio_8
Pension and similar obligations - Summary of Weighted Average Assumptions Used in Computing Benefit Obligations (Detail) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
United States [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Discount rate | 5.50% | 2.80% |
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 | 86 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 | 88 years | 88 years |
United States [member] | Top of range [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Medical cost trend rate | 7% | 5.30% |
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 | 5.10% | 2.90% |
Price inflation | 2% | 2% |
Future salary increases | 1% | 1% |
Future pension increases | 2% | 2% |
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 | 90 years |
Mexico [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Discount rate | 9.50% | 8% |
Price inflation | 3.50% | 3.50% |
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 | 85 years | 85 years |
Mexico [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 |
Mexico [member] | Top of range [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Future salary increases | 4.50% | 4.50% |
Mexico [member] | Bottom of range [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Future salary increases | 4% | 4% |
Brazil [Member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Discount rate | 10% | 8.70% |
Price inflation | 3.50% | 3.30% |
Future pension increases | 3.50% | 3.30% |
Medical cost trend rate | 7.10% | 6.90% |
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 | 87 years | 87 years |
Brazil [Member] | Top of range [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Future salary increases | 7.10% | 6.90% |
Brazil [Member] | Bottom of range [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Future salary increases | 5.30% | 5% |
United Kingdom [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Discount rate | 4.90% | 1.90% |
Price inflation | 3.20% | 3.60% |
Future pension increases | 3% | 3.20% |
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 | 5.90% | 3.20% |
Price inflation | 2.70% | 2.70% |
Future salary increases | 4% | 3.70% |
Future pension increases | 2.70% | 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 | 88 years |
AB inBev [member] | Top of range [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Medical cost trend rate | 6.80% | 5.90% |
AB inBev [member] | Bottom of range [member] | ||
Disclosure of Weighted average assumptions used to determine benefit obligations [line items] | ||
Medical cost trend rate | 6.10% | 5.70% |
Pension and similar obligatio_9
Pension and similar obligations - Summary of Sensitivity Analysis of Defined Benefit Obligation for Weighted Principle Assumption (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Discount Rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption | 0.50% |
Increase in assumption | $ (271) |
Decrease in assumption | $ 295 |
Price inflation [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption | 0.50% |
Increase in assumption | $ 94 |
Decrease in assumption | $ (101) |
Future Salary Increases [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption | 0.50% |
Increase in assumption | $ 20 |
Decrease in assumption | $ (19) |
Medical Cost Trend Rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption | 1% |
Increase in assumption | $ 25 |
Decrease in assumption | $ (22) |
Actual Assumption Of Mortality Rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption | One year |
Increase in assumption | $ 147 |
Decrease in assumption | $ (149) |
Pension and similar obligati_10
Pension and similar obligations - Summary of Fair Value of Plan Assets (Detail) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 100% | 100% |
Government Bonds [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 34% | 34% |
Corporate Bonds [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 30% | 34% |
Equity instruments [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 24% | 24% |
Property [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 7% | 4% |
Insurance Contracts and Others [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 5% | 4% |
Quoted [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 91% | 94% |
Quoted [Member] | Government Bonds [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 34% | 34% |
Quoted [Member] | Corporate Bonds [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 30% | 34% |
Quoted [Member] | Equity instruments [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 24% | 24% |
Quoted [Member] | Insurance Contracts and Others [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 4% | 2% |
Unquoted [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 8% | 6% |
Unquoted [Member] | Property [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 7% | 4% |
Unquoted [Member] | Insurance Contracts and Others [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Fair value of plan assets | 1% | 2% |
Share-Based Payments - Addition
Share-Based Payments - Additional Information (Detail) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share-based payment transactions expense | $ 448 | $ 510 | $ 169 |
Percentage of discount on market price of share for share based payments | 20% | ||
Share-based compensation number of shares issued | shares | 1,981 | 1,972 | 1,959 |
The Zenzele Kabili scheme [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share-based payment transactions expense | $ 72 | ||
AB inBev [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Lock up Period for first half of bonus shares | 3 years | ||
Restricted Stock Units [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share based payment vesting period first half | 3 years | ||
Share-based compensation number of shares issued | shares | 4.8 | 0.2 | |
Share-based compensation grant date fair value | $ 293 | $ 9 | |
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 | shares | 0.1 | 0.1 | |
Fair value of stock options granted | $ 4 | $ 4 |
Share-Based Payments - LTI Stoc
Share-Based Payments - LTI Stock Option Plan Executives - Additional Information (Detail) shares in Millions, Unit_pure in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Issued ordinary and restricted shares at 1 January, net of treasury shares | 1,981 | 1,972 | 1,959 |
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 | ||
Restricted Stock Units [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Issued ordinary and restricted shares at 1 January, net of treasury shares | 4.8 | 0.2 | |
Share-based compensation number of shares issued | 9.6 | 3.9 | 10.9 |
Share-based compensation grant date fair value | $ | $ 293 | $ 9 | |
Annual LTI Plans [member] | Long Term Incentive Restricted Stock Unit [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Description of share to acquire by holder | one | ||
Annual LTI Plans [member] | Long Term Incentive Restricted Stock Unit [member] | Executive [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share-based compensation number of shares issued | 3.9 | 2.8 | |
Share-based compensation grant date fair value | $ | $ 228 | $ 155 | |
Annual LTI Plans [member] | Long Term Incentive Performance Share Units [member] | Executive [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share-based compensation number of shares issued | 0.5 | ||
Share-based compensation grant date fair value | $ | $ 39 | ||
Annual LTI Plans [member] | Long Term Incentive Stock Option Plan [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share based payment vesting period | 5 years | ||
Annual LTI Plans [member] | Long Term Incentive Stock Option Plan [member] | Bottom of range [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share based payment vesting period | 5 years | ||
Annual LTI Plans [member] | Long Term Incentive Stock Option Plan [member] | Top of range [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share based payment vesting period | 10 years | ||
Annual LTI Plans [member] | Restricted Stock Units [member] | Board of Director [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Issued ordinary and restricted shares at 1 January, net of treasury shares | 0.5 | 0.2 | |
Annual LTI Plans [member] | Performance share units (PSUs) [member] | Board of Director [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share-based compensation number of shares issued | 0.1 | ||
Other Recurring LTI RSU Plans [member] | Long Term Restricted Stock Unit Program One [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share-based compensation number of shares issued | 0.7 | 0.8 | |
Other Recurring LTI RSU Plans [member] | Long Term Restricted Stock Unit Program One [member] | Vesting Period One [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share based payment vesting period | 3 years | ||
Other Recurring LTI RSU Plans [member] | Long Term Restricted Stock Unit Program One [member] | Vesting Period Two [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share based payment vesting period | 5 years | ||
Other Recurring LTI RSU Plans [member] | Long Term Restricted Stock Unit Program One [member] | Executive [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Fair value of options granted | $ | $ 44 | $ 45 | |
Other Recurring LTI RSU Plans [member] | Long Term Restricted Stock Unit Program Three [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Share-based compensation number of shares issued | 0.1 | 0.1 | |
Share-based compensation grant date fair value | $ | $ 7 | $ 7 |
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, 2022 | Dec. 31, 2021 | |
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 | 0 | 1 |
Share-Based Payments - Other Pr
Share-Based Payments - Other Programs - Additional Information (Detail) - 12 months ended Dec. 31, 2022 Unit_pure in Millions | EUR (€) | USD ($) | USD ($) |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Weighted average remaining contractual life of options and warrants | 6.4 years | 6.4 years | |
Options and warrants outstanding | 83.2 | 83.2 | |
Options and warrants vested | 23.7 | 23.7 | |
Weighted average share price at the date of exercise | € 52.93 | $ 56.46 | |
Bottom of range [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Exercise price of outstanding options and warrants | 10.32 | $ 11.01 | |
Top of range [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Exercise price of outstanding options and warrants | € 128.46 | $ 137.02 |
Share-Based Payments - Summary
Share-Based Payments - Summary of Number of Options Outstanding (Detail) shares in Millions, Unit_pure in Millions | 12 Months Ended | ||
Dec. 31, 2022 shares | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of information about options outstanding [line items] | |||
Options outstanding at the end of December | 99.7 | ||
Brazil [Member] | Ambev [member] | |||
Disclosure of information about options outstanding [line items] | |||
Options outstanding at 1 January | 113.8 | 127.3 | 141.8 |
Options exercised during the year | (5.2) | (5.7) | |
Options forfeited during the year | (14) | (8.3) | (8.8) |
Options outstanding at the end of December | 99.8 | 113.8 | 127.3 |
AB inBev [member] | |||
Disclosure of information about options outstanding [line items] | |||
Options outstanding at 1 January | 102.7 | 113.3 | 88.7 |
Options issued during the year | 38.1 | ||
Options exercised during the year | (1) | (1.3) | (3.9) |
Options forfeited during the year | (14.9) | (9.2) | (9) |
Options lapsed during the year | (3.6) | ||
Options outstanding at the end of December | 83.2 | 102.7 | 113.3 |
Share-Based Payments - Summar_2
Share-Based Payments - Summary of Weighted Average Exercise Price of Options (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Brazil [Member] | Ambev [member] | |||
Disclosure of options weighted average exercise price [line items] | |||
Options outstanding at 1 January | $ 3.57 | $ 3.81 | $ 4.6 |
Granted during the year | 3.47 | ||
Exercised during the year | 2.36 | 1.6 | |
Forfeited during the year | 4.33 | 4.53 | 4.42 |
Outstanding at the end of December | 3.72 | 3.57 | 3.81 |
Exercisable at the end of December | 3.86 | 3.79 | 4.56 |
AB inBev [member] | |||
Disclosure of options weighted average exercise price [line items] | |||
Options outstanding at 1 January | 64.77 | 71.22 | 79.66 |
Granted during the year | 53.41 | ||
Exercised during the year | 16.11 | 46.3 | 29.92 |
Forfeited during the year | 94.76 | 89.56 | 117.82 |
Lapsed during the year | 88.1 | ||
Outstanding at the end of December | 76.04 | 64.77 | 71.22 |
Exercisable at the end of December | $ 102.19 | $ 98.27 | $ 99.54 |
Share-Based Payments - Summar_3
Share-Based Payments - Summary of Number of Outstanding Deferred and Restricted stock Units (Detail) - Restricted Stock Units [member] shares in Millions, Unit_pure in Millions | 12 Months Ended | ||
Dec. 31, 2022 shares | Dec. 31, 2021 shares | Dec. 31, 2020 | |
Disclosure of other equity instruments [line items] | |||
RSUs outstanding at 1 January | 20.9 | 19.1 | 9.9 |
RSUs issued during the year | 9.6 | 3.9 | 10.9 |
RSUs vested during the year | (0.5) | (1.1) | (0.7) |
RSUs forfeited during the year | (1.8) | (1.1) | (0.9) |
RSUs outstanding at the end of December | 28.2 | 20.9 | 19.1 |
Ambev [member] | |||
Disclosure of other equity instruments [line items] | |||
RSUs issued during the year | 49.3 | 20.6 | |
Brazil [Member] | Ambev [member] | |||
Disclosure of other equity instruments [line items] | |||
RSUs outstanding at 1 January | 63.8 | 49.6 | 31.7 |
RSUs issued during the year | 49.3 | 20.7 | 21.3 |
RSUs vested during the year | (0.2) | (5) | (1.9) |
RSUs forfeited during the year | (3.1) | (1.5) | (1.5) |
RSUs outstanding at the end of December | 109.8 | 63.8 | 49.6 |
Share-Based Payments - Ambev Sh
Share-Based Payments - Ambev Share-Based Payment Programs - Additional Information (Detail) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 USD ($) shares $ / shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 | Dec. 31, 2022 R$ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Options outstanding | 99,700 | |||
Options vested | 63,900 | |||
Ambev [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Weighted average remaining contractual life of options and warrants | 4 years 3 months 18 days | |||
Number of shares exchanged | 54 | 3 | ||
Discount on exchange | 16.66% | |||
Fair value of the transaction | $ | $ 1 | $ 1 | ||
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) | $ 3.06 | R$ 15.95 | ||
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) | $ 7.48 | R$ 39.04 | ||
Restricted Stock Units [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Share-based compensation number of shares issued | 9,600,000 | 3,900,000 | 10,900,000 | |
Share-based compensation grant date fair value | $ | $ 293 | $ 9 | ||
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 | 49,300 | 20,600 | ||
Share-based compensation grant date fair value | $ | $ 148 | $ 61 | ||
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 | 44 | 100 | ||
Share-based compensation grant date fair value | $ | $ 1 | $ 1 |
Share-Based Payments - Bud Apac
Share-Based Payments - Bud Apac Share-Based Compensation Program (Detail) shares in Millions, Unit_pure in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 | |
Restricted Stock Units [member] | |||
Disclosure Of Share Based Compensation Program [Line Items] | |||
Share-based compensation grant date fair value | 9.6 | 3.9 | 10.9 |
Share-based compensation grant date fair value | $ 293 | $ 9 | |
Budweiser APAC [Member] | Restricted Stock Units [member] | |||
Disclosure Of Share Based Compensation Program [Line Items] | |||
Share-based compensation grant date fair value | shares | 0 | 0 | |
Budweiser APAC [Member] | Share-Based Compensation Plan [member] | |||
Disclosure Of Share Based Compensation Program [Line Items] | |||
Share-based compensation grant date fair value | 12.5 | 0.1 | |
Share-based compensation grant date fair value | $ 39 | $ 1 | |
Budweiser APAC [Member] | People bet plan [member] | |||
Disclosure Of Share Based Compensation Program [Line Items] | |||
Share-based compensation grant date fair value | shares | 0.5 | ||
Share-based compensation grant date fair value | $ 2 | ||
Budweiser APAC [Member] | New Restricted Stock Units Plan [member] | |||
Disclosure Of Share Based Compensation Program [Line Items] | |||
Share-based compensation grant date fair value | shares | 14.1 | 10 | |
Share-based compensation grant date fair value | $ 45 | $ 26 |
Provisions - Summary of Provisi
Provisions - Summary of Provisions by Class (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of other provisions [line items] | ||
Beginning balance | $ 605 | $ 763 |
Effect of movements in foreign exchange | (18) | (25) |
Provisions made | 226 | 203 |
Provisions used | (147) | (213) |
Provisions reversed | (22) | (48) |
Other movements | (73) | (75) |
Ending balance | 572 | 605 |
Restructuring [Member] | ||
Disclosure of other provisions [line items] | ||
Beginning balance | 80 | 104 |
Effect of movements in foreign exchange | (5) | (2) |
Provisions made | 37 | 63 |
Provisions used | (37) | (73) |
Provisions reversed | 0 | (13) |
Other movements | (23) | 1 |
Ending balance | 51 | 80 |
Disputes [Member] | ||
Disclosure of other provisions [line items] | ||
Beginning balance | 420 | 489 |
Effect of movements in foreign exchange | (11) | (20) |
Provisions made | 157 | 132 |
Provisions used | (109) | (129) |
Provisions reversed | (21) | (35) |
Other movements | 1 | (18) |
Ending balance | 436 | 420 |
Other - Disputes [Member] | ||
Disclosure of other provisions [line items] | ||
Beginning balance | 106 | 170 |
Effect of movements in foreign exchange | (2) | (4) |
Provisions made | 32 | 9 |
Provisions used | 0 | (11) |
Provisions reversed | 0 | (1) |
Other movements | (50) | (58) |
Ending balance | $ 85 | $ 106 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | $ 572 | $ 605 | $ 763 |
Restructuring | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 51 | 80 | 104 |
Indirect taxes | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 93 | ||
Labor | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 136 | ||
Commercial | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 66 | ||
Excise duties | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 23 | ||
Other disputes | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 118 | ||
Disputes | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 436 | 420 | 489 |
Other provisions | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 85 | $ 106 | $ 170 |
Less than 1 year [member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 176 | ||
Less than 1 year [member] | Restructuring | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 33 | ||
Less than 1 year [member] | Indirect taxes | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 10 | ||
Less than 1 year [member] | Labor | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 30 | ||
Less than 1 year [member] | Commercial | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 12 | ||
Less than 1 year [member] | Excise duties | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 2 | ||
Less than 1 year [member] | Other disputes | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 26 | ||
Less than 1 year [member] | Disputes | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 81 | ||
Less than 1 year [member] | Other provisions | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 63 | ||
After 1 year [member] | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 396 | ||
After 1 year [member] | Restructuring | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 18 | ||
After 1 year [member] | Indirect taxes | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 82 | ||
After 1 year [member] | Labor | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 105 | ||
After 1 year [member] | Commercial | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 54 | ||
After 1 year [member] | Excise duties | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 21 | ||
After 1 year [member] | Other disputes | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 92 | ||
After 1 year [member] | Disputes | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | 355 | ||
After 1 year [member] | Other provisions | |||
Disclosure Of Schedule To Settle Provisions [line items] | |||
Total provisions | $ 22 |
Trade and Other Payables - Summ
Trade and Other Payables - Summary of Trade and Other Payables (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of trade and other payables [abstract] | ||
Indirect taxes payable | $ 174 | $ 194 |
Trade payables | 176 | 51 |
Deferred consideration on acquisitions | 464 | 662 |
Other payables | 46 | 100 |
Non-current trade and other payables | 859 | 1,008 |
Trade payables and accrued expenses | 18,589 | 17,810 |
Payroll and social security payables | 1,520 | 1,716 |
Indirect taxes payable | 2,768 | 2,457 |
Interest payable | 1,428 | 1,501 |
Consigned packaging | 1,012 | 1,050 |
Dividends payable | 356 | 355 |
Deferred consideration on acquisitions | 313 | 191 |
Other payables | 362 | 353 |
Current trade and other payables | $ 26,349 | $ 25,434 |
Trade and Other Payables - Addi
Trade and Other Payables - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Supplier [Member] | ||
Disclosure of trade and other payables [line items] | ||
Reverse factoring arrangements with suppliers | $ 134 | |
Ambev And E Leon Jimenes Sa [member] | Written Put Options [member] | ||
Disclosure of trade and other payables [line items] | ||
Deferred consideration on acquisitions | $ 600 | $ 600 |
Risks Arising From Financial _3
Risks Arising From Financial Instruments - Disclosure of Financial Assets And Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial assets at amortized cost | $ 14,971 | $ 16,726 | [1] | |
Financial assets at fair value through profit or loss | 139 | 546 | [1] | |
Financial assets at fair value through OCI | 498 | 637 | [1] | |
Total | 15,608 | 17,908 | [1] | |
Financial liabilities at amortized cost | 101,975 | 110,073 | [1] | |
Financial liabilities at fair value through profit or loss | 5,565 | 6,443 | [1] | |
Financial liabilities at fair value through OCI | 689 | 275 | [1] | |
Total | 108,229 | 116,790 | [1] | |
Trade and other payables [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial liabilities at amortized cost | 21,983 | 21,242 | [1] | |
Financial liabilities at fair value through profit or loss | 762 | 832 | [1] | |
Total | 22,746 | 22,074 | [1] | |
Non-current interest-bearing loans and borrowings [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial liabilities at amortized cost | 78,880 | 87,369 | [1] | |
Total | 78,880 | 87,369 | [1] | |
Current interest-bearing loans and borrowings [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial liabilities at amortized cost | 1,029 | 1,408 | [1] | |
Total | 1,029 | 1,408 | [1] | |
Bank Overdrafts [Member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial liabilities at amortized cost | 83 | 53 | [1] | |
Total | 83 | 53 | [1] | |
Equity swaps [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial liabilities at fair value through profit or loss | 4,763 | 5,412 | [1] | |
Total | 4,763 | 5,412 | [1] | |
Cross currency interest rate swaps [Member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial liabilities at fair value through profit or loss | 16 | 174 | [1] | |
Financial liabilities at fair value through OCI | 171 | 95 | [1] | |
Total | 187 | 270 | [1] | |
Foreign currency futures [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial liabilities at fair value through OCI | 0 | 37 | [1] | |
Total | 0 | 37 | [1] | |
Foreign exchange forwards [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial liabilities at fair value through profit or loss | 20 | 24 | [1] | |
Financial liabilities at fair value through OCI | 245 | 105 | [1] | |
Total | 265 | 129 | [1] | |
Commodity derivatives [Member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial liabilities at fair value through OCI | 271 | 35 | [1] | |
Total | 271 | 35 | [1] | |
Interest rate swap [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial liabilities at fair value through profit or loss | 3 | |||
Financial liabilities at fair value through OCI | 2 | 3 | [1] | |
Total | 5 | 3 | [1] | |
Non-current financial liabilities [Member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial liabilities at amortized cost | 79,108 | 87,531 | [1] | |
Financial liabilities at fair value through profit or loss | 473 | 678 | [1] | |
Financial liabilities at fair value through OCI | 168 | 73 | [1] | |
Total | 79,749 | 88,282 | [1] | |
Current financial liabilities [Member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial liabilities at amortized cost | 22,867 | 22,541 | [1] | |
Financial liabilities at fair value through profit or loss | 5,092 | 5,764 | [1] | |
Financial liabilities at fair value through OCI | 521 | 202 | [1] | |
Total | 28,480 | 28,508 | [1] | |
Cash and cash equivalents [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial assets at amortized cost | 9,973 | 12,097 | [1] | |
Total | 9,973 | 12,097 | [1] | |
Trade and other receivables [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial assets at amortized cost | 4,973 | 4,607 | [1] | |
Total | 4,973 | 4,607 | [1] | |
Investment securities [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial assets at amortized cost | 25 | 22 | [1] | |
Financial assets at fair value through profit or loss | 97 | 374 | [1] | |
Financial assets at fair value through OCI | 149 | 139 | [1] | |
Total | 272 | 535 | [1] | |
Interest rate swap [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial assets at fair value through profit or loss | [1] | 37 | ||
Financial assets at fair value through OCI | 0 | 0 | [1] | |
Total | 0 | 37 | [1] | |
Cross currency interest rate swaps [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial assets at fair value through profit or loss | [1] | 52 | ||
Financial assets at fair value through OCI | 63 | 60 | [1] | |
Total | 63 | 112 | [1] | |
Foreign exchange forwards [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial assets at fair value through profit or loss | 41 | 82 | [1] | |
Financial assets at fair value through OCI | 182 | 156 | [1] | |
Total | 223 | 238 | [1] | |
Foreign currency futures [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial assets at fair value through OCI | 4 | 0 | [1] | |
Total | 4 | 0 | [1] | |
Commodity derivatives [member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial assets at fair value through OCI | 101 | 282 | [1] | |
Total | 101 | 282 | [1] | |
Non-current financial assets [Member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial assets at amortized cost | 522 | 526 | [1] | |
Financial assets at fair value through profit or loss | 15 | 25 | [1] | |
Financial assets at fair value through OCI | 193 | 162 | [1] | |
Total | 730 | 712 | [1] | |
Current financial assets [Member] | ||||
Disclosure of Financial assets and liabilities [line items] | ||||
Financial assets at amortized cost | 14,450 | 16,200 | [1] | |
Financial assets at fair value through profit or loss | 124 | 521 | [1] | |
Financial assets at fair value through OCI | 305 | 475 | [1] | |
Total | $ 14,878 | $ 17,196 | [1] | |
[1]Amended to conform to 2022 presentation. |
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, 2022 | Dec. 31, 2021 |
Less than 1 year [member] | Foreign exchange forwards [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | $ 11,445 | $ 12,599 |
Less than 1 year [member] | Foreign currency futures [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 503 | 1,617 |
Less than 1 year [member] | Interest rate swap [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,000 | 1,500 |
Less than 1 year [member] | Cross currency interest rate swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 900 | 4,614 |
Less than 1 year [member] | Aluminum swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 2,161 | 1,241 |
Less than 1 year [member] | Other commodity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,160 | 1,034 |
Less than 1 year [member] | Equity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 10,800 | 11,469 |
1-2 years [member] | Foreign exchange forwards [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 479 | 29 |
1-2 years [member] | Foreign currency futures [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
1-2 years [member] | Interest rate swap [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 1,000 |
1-2 years [member] | Cross currency interest rate swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,923 | 1,400 |
1-2 years [member] | Aluminum swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 4 | 0 |
1-2 years [member] | Other commodity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 22 | 0 |
1-2 years [member] | Equity derivatives [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 0 | 0 |
2-3 years [member] | Foreign exchange forwards [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 | 0 | 0 |
2-3 years [member] | Cross currency interest rate swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,834 | 1,173 |
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] | Foreign exchange forwards [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 | 0 |
3-5 years [member] | Cross currency interest rate swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 2,608 | 1,573 |
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] | Foreign exchange forwards [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 | 560 | 1,453 |
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, 2022 | Dec. 31, 2021 |
Euro to Mexican Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | $ (108) | $ (112) |
Total hedges | 100 | 111 |
Open position | (8) | (1) |
Euro to Pound Sterling [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (136) | (124) |
Total hedges | 112 | 112 |
Open position | (24) | (12) |
Euro to South African Rand [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (67) | (79) |
Total hedges | 31 | 75 |
Open position | (37) | (4) |
Euro to US Dollar [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (38) | (123) |
Total hedges | 58 | 100 |
Open position | 20 | (23) |
Mexican peso to Euro [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (269) | (254) |
Total hedges | 268 | 231 |
Open position | (2) | (23) |
US dollar to Argentinian peso [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (702) | (661) |
Total hedges | 206 | 674 |
Open position | (496) | 13 |
US Dollar to Bolivian Boliviano [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (74) | (80) |
Total hedges | 76 | 75 |
Open position | 1 | (5) |
US Dollar to Brazilian Real [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (1,955) | (1,846) |
Total hedges | 1,789 | 1,618 |
Open position | (166) | (228) |
US Dollar to Canadian Dollar [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (310) | (304) |
Total hedges | 249 | 253 |
Open position | (61) | (51) |
US Dollar to Chilean Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (135) | (171) |
Total hedges | 129 | 162 |
Open position | (6) | (9) |
US Dollar to Chinese Yuan [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (125) | (123) |
Total hedges | 113 | 116 |
Open position | (12) | (7) |
US Dollar to Colombian Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (615) | (476) |
Total hedges | 559 | 434 |
Open position | (56) | (42) |
US Dollar to Euro [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (134) | (103) |
Total hedges | 111 | 96 |
Open position | (23) | (7) |
US Dollar to Mexican Peso [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (1,442) | (1,236) |
Total hedges | 1,436 | 1,168 |
Open position | (6) | (68) |
US Dollar to Paraguayan Guarani [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (144) | (153) |
Total hedges | 135 | 139 |
Open position | (8) | (14) |
US Dollar to Peruvian Nuevo Sol [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (264) | (292) |
Total hedges | 276 | 278 |
Open position | 13 | (14) |
US Dollar to South African Rand [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (196) | (196) |
Total hedges | 121 | 148 |
Open position | (75) | (48) |
US Dollar to South Korean Won [Member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (121) | (114) |
Total hedges | 110 | 79 |
Open position | (12) | (35) |
Other currency [member] | ||
Disclosure Of Foreign Currency Exchange Exposure [line items] | ||
Total exposure | (326) | (424) |
Total hedges | 197 | 313 |
Open position | $ (129) | $ (111) |
Risks Arising From Financial _6
Risks Arising From Financial Instruments - Additional Information (Detail) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
Sep. 30, 2013 | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | ||
Disclosure of detailed information about financial instruments [line items] | |||||
Amount of exposure equivalent to shares hedged | $ 16,019,000 | $ 18,258,000 | |||
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 2022 and 31 December 2021. | ||||
Financial Liabilities | $ 108,229,000 | 116,790,000 | [1] | ||
Currency [Member] | US Dollar [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Increase decrease in fair value measurement due to reasonable possible decrease in unobservable input recognized in profit or loss before tax liabilities | $ 0 | ||||
Equity swaps [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial Liabilities | 4,763,000 | 5,412,000 | [1] | ||
Floating interest rate [member] | Nigeria [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Borrowed amount | 309,000 | ||||
Holding Company [Member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Derivative and non-derivative financial instruments, net | 8,482,000 | 7,473,000 | |||
Observable Market Inputs - Level 3 [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial Liabilities | $ 762,000 | $ 832,000 | |||
CERVECERIA NACIONAL DOMINICANA S.A. [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Percentage of shares hold by ELJ | 15% | ||||
Equity price risk [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Amount of exposure equivalent to shares hedged | $ 100,500 | ||||
Gain recognized in the profit or loss | $ 605,000 | ||||
Reasonable possible volatility rate | 27.53% | 26.51% | 53.87% | ||
Positive/negative impact on profit before tax | $ 1,660,000 | $ 1,604,000 | $ 3,787 | ||
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 | $ 331,000 | ||||
Interest Rate Risk [Member] | Interest rate, measurement input [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Percentage of reasonably possible decrease in unobservable input liabilities | 100% | 100% | |||
Percentage of reasonably possible increase in unobservable input, liabilities | 100% | 100% | |||
Interest Rate Risk [Member] | Floating interest rate [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Carrying value of financial liabilities | $ 4,557,000 | ||||
Proportion of company's financial liabilities | 5.70% | ||||
Higher/lower interest expense | $ 46,000 | $ 20,000 | |||
Higher/lower interest income | 93,000 | 81,000 | |||
Interest Rate Risk [Member] | Before hedging [Member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Carrying value of financial liabilities | $ 83,000 | 53,000 | |||
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 2022 and no single customer represented more than 10% of the total revenue of the group in 2022. | ||||
Credit risk [member] | Top of range [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Percentage of revenue accounted by individual customer | 10% | ||||
Currency risk [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Increase decrease in fair value measurement due to reasonable possible increase in unobservable input recognized in profit or loss tax liabilities | $ 0 | ||||
Currency risk [member] | Currency [Member] | US Dollar [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Derivative position positive pre-tax impact on equity reserves | $ 537,000 | $ 523,000 | |||
Percentage of reasonably possible decrease in unobservable input liabilities | 10% | 10% | |||
Increase decrease in fair value measurement due to reasonable possible decrease in unobservable input recognized in profit or loss before tax liabilities | $ 144,000 | $ 99,000 | |||
Increase decrease in fair value measurement due to reasonable possible increase in unobservable input recognized in profit or loss tax liabilities | $ 144,000 | $ 99,000 | |||
Percentage of reasonably possible increase in unobservable input, liabilities | 10% | 10% | |||
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 | $ 585,000 | $ 589,000 | |||
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% | ||||
Appointment period | September 2013 | ||||
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 | $ 274,000 | ||||
[1]Amended to conform to 2022 presentation. |
Risks Arising from Financial _7
Risks Arising from Financial Instruments - Summary of Foreign Exchange Results Recognized on Unhedged and Hedged Exposures (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Net foreign exchange results [line items] | |||
Net foreign exchange | $ (363) | $ (84) | $ 14 |
Hedged (economic hedges) [Member] | |||
Net foreign exchange results [line items] | |||
Net foreign exchange | 297 | 717 | (181) |
Not hedged [Member] | |||
Net foreign exchange results [line items] | |||
Net foreign exchange | $ (660) | $ (801) | $ 195 |
Risks Arising from Financial _8
Risks Arising from Financial Instruments - Summary of Effective Interest Rates at Balance Sheet (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | $ (5,492) | $ (5,886) | |
Before hedging [Member] | Floating interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 1,730 | 2,310 | [1] |
Before hedging [Member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | $ 78,261 | $ 86,520 | [1] |
Before hedging [Member] | Canadian Dollar [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 4.50% | 4.11% | [1] |
Hedging | $ 613 | $ 626 | [1] |
Before hedging [Member] | Chinese Yuan [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 2.44% | 3.87% | [1] |
Hedging | $ 50 | $ 34 | [1] |
Before hedging [Member] | Euro [member] | Floating interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 1.68% | ||
Hedging | $ 1,048 | $ 1,113 | [1] |
Before hedging [Member] | Euro [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 2.27% | 2.27% | [1] |
Hedging | $ 20,391 | $ 21,654 | [1] |
Before hedging [Member] | Pound Sterling [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 5.13% | 4.35% | [1] |
Hedging | $ 2,208 | $ 3,611 | [1] |
Before hedging [Member] | South Korean Won [member] | Floating interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | $ 1 | ||
Before hedging [Member] | South Korean Won [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 2.96% | 3.85% | [1] |
Hedging | $ 46 | $ 31 | [1] |
Before hedging [Member] | US Dollar [member] | Floating interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 5.05% | 1.67% | [1] |
Hedging | $ 430 | $ 463 | [1] |
Before hedging [Member] | US Dollar [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 4.99% | 4.93% | [1] |
Hedging | $ 53,478 | $ 59,399 | [1] |
Before hedging [Member] | Other currency [member] | Floating interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 13.39% | 5.37% | [1] |
Hedging | $ 252 | $ 734 | [1] |
Before hedging [Member] | Other currency [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 10.53% | 8.09% | [1] |
Hedging | $ 1,476 | $ 1,165 | [1] |
After hedging [Member] | Floating interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 4,557 | 6,164 | [1] |
After hedging [Member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | $ 75,434 | $ 82,667 | [1] |
After hedging [Member] | Canadian Dollar [member] | Floating interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 4.34% | 1.21% | [1] |
Hedging | $ 1,455 | $ 2,043 | [1] |
After hedging [Member] | Canadian Dollar [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 4.37% | 4.29% | [1] |
Hedging | $ 3,741 | $ 3,158 | [1] |
After hedging [Member] | Chinese Yuan [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 2.50% | 1.78% | [1] |
Hedging | $ 1,230 | $ 194 | [1] |
After hedging [Member] | Euro [member] | Floating interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 1.68% | ||
Hedging | $ 1,048 | $ 1,113 | [1] |
After hedging [Member] | Euro [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 2.31% | 2.11% | [1] |
Hedging | $ 21,242 | $ 27,553 | [1] |
After hedging [Member] | Pound Sterling [member] | Floating interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 3.70% | 1.05% | [1] |
Hedging | $ 1,078 | $ 1,002 | [1] |
After hedging [Member] | Pound Sterling [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 5.55% | 4.43% | [1] |
Hedging | $ 1,607 | $ 2,937 | [1] |
After hedging [Member] | South Korean Won [member] | Floating interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 3.08% | 1.67% | [1] |
Hedging | $ 311 | $ 502 | [1] |
After hedging [Member] | South Korean Won [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 0.94% | 0.87% | [1] |
Hedging | $ 1,896 | $ 1,695 | [1] |
After hedging [Member] | US Dollar [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 5.27% | 5.41% | [1] |
Hedging | $ 44,547 | $ 46,288 | [1] |
After hedging [Member] | Other currency [member] | Floating interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 11.17% | 5.99% | [1] |
Hedging | $ 666 | $ 1,504 | [1] |
After hedging [Member] | Other currency [member] | Fixed interest rate [member] | |||
Disclosure of offsetting financial assets and liabilities [line items] | |||
Hedging | 12.19% | 9.62% | [1] |
Hedging | $ 1,172 | $ 841 | [1] |
[1]Amended to conform to 2022 presentation. |
Risks Arising from Financial _9
Risks Arising from Financial Instruments - Summary of Interest Expense Recognized on Unhedged and Hedged Financial Liabilities (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of detailed information about hedging instruments [line items] | |||||
Interest expense | $ (3,294) | $ (3,560) | [1] | $ (3,854) | [1] |
Interest Rate Risk [Member] | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Interest expense | (3,597) | (3,684) | (4,016) | ||
Interest Rate Risk [Member] | Financial Liabilities at Amortised Cost, Class [Member] | Not Designated in Hedging Relationship [Member] | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Interest expense | (3,641) | (3,836) | (4,154) | ||
Interest Rate Risk [Member] | Fair value hedges [member] | Hedged Item [Member] | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Interest expense | (20) | (6) | (1) | ||
Interest Rate Risk [Member] | Cash flow hedges [member] | Hedged Item [Member] | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Interest expense | 24 | 17 | 19 | ||
Interest Rate Risk [Member] | Net investment hedges [member] | Hedging Instrument [Member] | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Interest expense | (1) | 0 | 2 | ||
Interest Rate Risk [Member] | Economic Hedges [Member] | Hedged Item [Member] | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Interest expense | $ 42 | $ 141 | $ 118 | ||
[1]Amended to conform to 2022 presentation. |
Risks arising from Financial_10
Risks arising from Financial instruments - Schedule of Commodity Derivatives Outstanding (Detail) - Commodity price risk [member] - Commodity derivatives [member] - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | $ 3,348 | $ 2,274 |
Aluminum [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | 2,165 | 1,241 |
Energy [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | 417 | 350 |
Corn [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | 321 | 292 |
Wheat [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | 127 | 129 |
Rice [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | 100 | 85 |
Plastic [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | 122 | 93 |
Sugar [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Commodity derivatives outstanding | $ 95 | $ 85 |
Risks Arising from Financial_11
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, 2022 | Dec. 31, 2021 | |
Aluminum [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 30.71% | 23.09% |
Pre-tax impact on equity Prices increases | $ 665 | $ 287 |
Pre-tax impact on equity Prices decrease | $ (665) | $ (287) |
Energy [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 49.37% | 25.88% |
Pre-tax impact on equity Prices increases | $ 206 | $ 91 |
Pre-tax impact on equity Prices decrease | $ (206) | $ (91) |
Corn [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 22.44% | 23.26% |
Pre-tax impact on equity Prices increases | $ 72 | $ 68 |
Pre-tax impact on equity Prices decrease | $ (72) | $ (68) |
Wheat [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 51.59% | 29.24% |
Pre-tax impact on equity Prices increases | $ 66 | $ 38 |
Pre-tax impact on equity Prices decrease | $ (66) | $ (38) |
Plastic [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 32.31% | 28.68% |
Pre-tax impact on equity Prices increases | $ 25 | $ 27 |
Pre-tax impact on equity Prices decrease | $ (25) | $ (27) |
Rice [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 19.31% | 15.96% |
Pre-tax impact on equity Prices increases | $ 19 | $ 14 |
Pre-tax impact on equity Prices decrease | $ (19) | $ (14) |
Sugar [member] | ||
Disclosure of sensitivity analysis for each type of commodity price risk [line items] | ||
Volatility of prices | 22.17% | 26.39% |
Pre-tax impact on equity Prices increases | $ 21 | $ 22 |
Pre-tax impact on equity Prices decrease | $ (21) | $ (22) |
Risks Arising from Financial_12
Risks Arising from Financial Instruments - Summary of Carrying Amount of Financial Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of credit risk exposure [line items] | ||
Gross | $ 16,019 | $ 18,258 |
Debt Securities [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 123 | 396 |
Trade receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 3,637 | 3,465 |
Cash Deposits for Guarantees [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 189 | 168 |
Loans to customers [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 81 | 117 |
Other receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 1,477 | 1,207 |
Derivatives [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 391 | 669 |
Cash and Cash Equivalent [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 9,973 | 12,097 |
Equity instruments [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 149 | 139 |
Gross carrying amount [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 16,434 | 18,660 |
Gross carrying amount [member] | Debt Securities [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 123 | 396 |
Gross carrying amount [member] | Trade receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 3,980 | 3,796 |
Gross carrying amount [member] | Cash Deposits for Guarantees [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 189 | 168 |
Gross carrying amount [member] | Loans to customers [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 81 | 117 |
Gross carrying amount [member] | Other receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 1,545 | 1,272 |
Gross carrying amount [member] | Derivatives [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 391 | 669 |
Gross carrying amount [member] | Cash and Cash Equivalent [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 9,973 | 12,097 |
Gross carrying amount [member] | Equity instruments [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 155 | 145 |
Impairment losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | (416) | (402) |
Impairment losses [member] | Trade receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | (343) | (331) |
Impairment losses [member] | Other receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | (68) | (65) |
Impairment losses [member] | Equity instruments [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | $ (5) | $ (6) |
Risks Arising from Financial_13
Risks Arising from Financial Instruments - Summary of Allowance for Impairment (Detail) - Impairment losses [member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of impairment loss and reversal of impairment loss [line items] | |||
Beginning balance | $ (402) | $ (376) | $ (283) |
Impairment losses | (38) | (37) | (99) |
Derecognition | 24 | 30 | 49 |
Currency translation and other | 1 | (19) | (46) |
Ending balance | $ (416) | $ (402) | $ (376) |
Risks Arising from Financial_14
Risks Arising from Financial Instruments - Summary of Nominal Contractual Maturities of Non-Derivative Financial Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | |
Non-derivative financial liabilities | |||
Bank overdraft | $ (83) | $ (53) | |
Net carrying amount [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | [1] | (393) | (628) |
Unsecured bank loans | [1] | (100) | (106) |
Unsecured bond issues | [1] | (76,798) | (85,726) |
Unsecured other loans | [1] | (125) | (40) |
Finance lease liabilities | [1] | (2,492) | (2,277) |
Bank overdraft | [1] | (83) | (53) |
Trade and other payables | [1] | (27,208) | (26,442) |
Non-derivative financial liabilities | [1] | (107,199) | (115,272) |
Derivative financial assets/(liabilities) | |||
Foreign exchange derivatives | [1] | (265) | (166) |
Cross currency interest rate swaps | [1] | (192) | (273) |
Commodity derivatives | [1] | (271) | (34) |
Equity derivatives | [1] | (4,763) | (5,412) |
Derivative financial assets/(liabilities) | [1] | (5,492) | (5,885) |
Of which: related to cash flow hedges | [1] | (551) | (203) |
Contractual cash flows [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | (405) | (636) | |
Unsecured bank loans | (100) | (106) | |
Unsecured bond issues | (133,670) | (152,064) | |
Unsecured other loans | (193) | (84) | |
Finance lease liabilities | (2,840) | (2,429) | |
Bank overdraft | (83) | (53) | |
Trade and other payables | (27,453) | (26,643) | |
Non-derivative financial liabilities | (164,745) | (182,015) | |
Derivative financial assets/(liabilities) | |||
Foreign exchange derivatives | (265) | (166) | |
Cross currency interest rate swaps | (191) | (293) | |
Commodity derivatives | (251) | (34) | |
Equity derivatives | (4,763) | (5,420) | |
Derivative financial assets/(liabilities) | (5,471) | (5,913) | |
Of which: related to cash flow hedges | (530) | (203) | |
Contractual cash flows [member] | Less than 1 year [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | (371) | (551) | |
Unsecured bank loans | (100) | (106) | |
Unsecured bond issues | (3,273) | (3,479) | |
Unsecured other loans | (34) | (11) | |
Finance lease liabilities | (618) | (497) | |
Bank overdraft | (83) | (53) | |
Trade and other payables | (26,376) | (25,424) | |
Non-derivative financial liabilities | (30,856) | (30,121) | |
Derivative financial assets/(liabilities) | |||
Foreign exchange derivatives | (265) | (166) | |
Cross currency interest rate swaps | (9) | (147) | |
Commodity derivatives | (249) | (34) | |
Equity derivatives | (4,763) | (5,420) | |
Derivative financial assets/(liabilities) | (5,287) | (5,767) | |
Of which: related to cash flow hedges | (469) | (170) | |
Contractual cash flows [member] | 1-2 years [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | (5) | (53) | |
Unsecured bond issues | (5,683) | (3,596) | |
Unsecured other loans | (78) | (48) | |
Finance lease liabilities | (566) | (470) | |
Trade and other payables | (170) | (314) | |
Non-derivative financial liabilities | (6,501) | (4,481) | |
Derivative financial assets/(liabilities) | |||
Cross currency interest rate swaps | (43) | (35) | |
Commodity derivatives | (2) | 0 | |
Equity derivatives | 0 | 0 | |
Derivative financial assets/(liabilities) | (45) | (35) | |
Contractual cash flows [member] | 2-3 years [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | (5) | (5) | |
Unsecured bond issues | (3,783) | (6,192) | |
Unsecured other loans | (28) | (5) | |
Finance lease liabilities | (414) | (337) | |
Trade and other payables | (349) | (507) | |
Non-derivative financial liabilities | (4,579) | (7,046) | |
Derivative financial assets/(liabilities) | |||
Cross currency interest rate swaps | (47) | (32) | |
Derivative financial assets/(liabilities) | (47) | (32) | |
Of which: related to cash flow hedges | (43) | ||
Contractual cash flows [member] | 3-5 years [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | (10) | (9) | |
Unsecured bond issues | (15,482) | (13,800) | |
Unsecured other loans | (31) | (4) | |
Finance lease liabilities | (531) | (450) | |
Trade and other payables | (260) | (96) | |
Non-derivative financial liabilities | (16,313) | (14,359) | |
Derivative financial assets/(liabilities) | |||
Cross currency interest rate swaps | (62) | (56) | |
Derivative financial assets/(liabilities) | (62) | (56) | |
Of which: related to cash flow hedges | (17) | (29) | |
Contractual cash flows [member] | Greater than 5 years [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | (14) | (18) | |
Unsecured bond issues | (105,450) | (124,997) | |
Unsecured other loans | (23) | (16) | |
Finance lease liabilities | (712) | (675) | |
Trade and other payables | (297) | (302) | |
Non-derivative financial liabilities | (106,496) | (126,008) | |
Derivative financial assets/(liabilities) | |||
Cross currency interest rate swaps | (30) | (23) | |
Derivative financial assets/(liabilities) | $ (30) | (23) | |
Of which: related to cash flow hedges | $ (4) | ||
[1]“Carrying amount” refers to the net book value as recognized in the statement of financial position at each reporting date. |
Risks Arising from Financial_15
Risks Arising from Financial Instruments - Summary for Each Type of Derivative Fair Value Recognized as Assets and Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of detailed information about financial instruments [line items] | ||
Assets | $ 391 | $ 669 |
Liabilities | (5,492) | (5,886) |
Net | (5,101) | (5,216) |
Non-current, Assets | 60 | 48 |
Non-current, Liabilities | (184) | (100) |
Non-current, Net | (124) | (52) |
Derivatives | 331 | 621 |
Derivatives | (5,308) | (5,786) |
Current derivative financial assets liabilities, net, Total | (4,977) | (5,164) |
Forward exchange contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 223 | 238 |
Liabilities | (265) | (129) |
Net | (42) | 109 |
Foreign currency futures [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 4 | 0 |
Liabilities | 0 | (37) |
Net | 4 | (37) |
Interest rate swap [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 0 | 38 |
Liabilities | (5) | 0 |
Net | (5) | 38 |
Cross currency interest rate swap [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 63 | 111 |
Liabilities | (187) | (273) |
Net | (124) | (162) |
Aluminum swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 52 | 178 |
Liabilities | (174) | (20) |
Net | (122) | 158 |
Sugar futures commodity contract [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 4 | 13 |
Liabilities | 0 | |
Net | 4 | 13 |
Other commodity contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 32 | 62 |
Liabilities | (69) | (13) |
Net | (37) | 50 |
Equity derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 0 | 0 |
Liabilities | (4,763) | (5,412) |
Net | (4,763) | (5,412) |
Energy futures commodity contract [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 12 | 29 |
Liabilities | (28) | (2) |
Net | $ (16) | $ 27 |
Risks Arising from Financial_16
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, 2022 | Dec. 31, 2021 |
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | $ (75,769) | $ (84,244) |
Fair value | (73,008) | (103,590) |
Canadian Dollar [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (515) | (549) |
Fair value | (437) | (604) |
Euro [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (19,655) | (20,856) |
Fair value | (17,926) | (23,801) |
Pound Sterling [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (2,148) | (3,539) |
Fair value | (2,039) | (3,913) |
US Dollar [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (52,993) | (58,912) |
Fair value | (52,158) | (74,852) |
Other currency [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (458) | (389) |
Fair value | $ (448) | $ (420) |
Risks Arising from Financial_17
Risks Arising from Financial Instruments - Analysis of Financial Instruments (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about financial instruments [line items] | |||
Financial Assets | $ 15,608 | $ 17,908 | [1] |
Financial Liabilities | 108,229 | 116,790 | [1] |
Quoted (unadjusted) prices- level 1 [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial Assets | 36 | 58 | |
Financial Liabilities | 26 | 52 | |
Quoted (unadjusted) prices- level 1 [member] | Derivative liabilities [member] | Cash flow hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial Liabilities | 26 | 52 | |
Quoted (unadjusted) prices- level 1 [member] | Derivatives [member] | Cash flow hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial Assets | 36 | 58 | |
Observable market inputs - level 2 [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial Assets | 364 | 620 | |
Financial Liabilities | 5,466 | 5,834 | |
Observable market inputs - level 2 [member] | Derivative liabilities [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial Liabilities | 4,799 | 5,611 | |
Observable market inputs - level 2 [member] | Derivative liabilities [member] | Cash flow hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial Liabilities | 525 | 141 | |
Observable market inputs - level 2 [member] | Derivative liabilities [member] | Fair value hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial Liabilities | 4 | ||
Observable market inputs - level 2 [member] | Derivative liabilities [member] | Net investment hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial Liabilities | 138 | 82 | |
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 | 9 | 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 | 41 | 155 | |
Observable market inputs - level 2 [member] | Derivatives [member] | Cash flow hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial Assets | 219 | 352 | |
Observable market inputs - level 2 [member] | Derivatives [member] | Fair value hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial Assets | 17 | ||
Observable market inputs - level 2 [member] | Derivatives [member] | Net investment hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial Assets | 94 | 87 | |
Observable Market Inputs - Level 3 [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial Liabilities | 762 | 832 | |
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 | $ 762 | $ 832 | |
[1]Amended to conform to 2022 presentation. |
Risks arising from Financial_18
Risks arising from Financial instruments - Summary of Hedging Reserve and Hedging Instruments (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about hedging instruments [line items] | ||
As per 1 January | $ 481 | $ 376 |
Change in fair value of hedging instrument recognized in OCI | 182 | 888 |
Reclassified to profit or loss / cost of inventory | (518) | (783) |
As per 31 December | 145 | 481 |
Foreign currency futures [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
As per 1 January | 679 | 20 |
Change in fair value of hedging instrument recognized in OCI | 143 | 766 |
Reclassified to profit or loss / cost of inventory | (331) | (107) |
As per 31 December | 491 | 679 |
Commodity Contracts [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
As per 1 January | (306) | 274 |
Change in fair value of hedging instrument recognized in OCI | 39 | 123 |
Reclassified to profit or loss / cost of inventory | (208) | (703) |
As per 31 December | (476) | (306) |
Other hedging instrument [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
As per 1 January | 111 | 84 |
Reclassified to profit or loss / cost of inventory | 22 | 27 |
As per 31 December | $ 131 | $ 111 |
Risks Arising from Financial_19
Risks Arising from Financial Instruments - Summary of Offsetting Financial Assets and Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross amount | $ 391 | $ 670 |
Net amount recognized in the statement of financial position | 391 | 670 |
Other offsetting agreements | (381) | (651) |
Total net amount | 10 | 19 |
Derivative liabilities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross amount | (5,492) | (5,886) |
Net amount recognized in the statement of financial position | (5,492) | (5,886) |
Other offsetting agreements | 381 | 651 |
Total net amount | $ (5,111) | $ (5,235) |
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, 2022 | Dec. 31, 2021 |
Collateral and contractual commitments [abstract] | ||
Collateral given for own liabilities | $ 306 | $ 310 |
Contractual commitments to purchase property, plant and equipment | 538 | 449 |
Contractual commitments to acquire loans to associates/customers | 72 | 142 |
Other commitments | $ 1,800 | $ 1,943 |
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) - USD ($) shares in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | |
Jan. 31, 2018 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of collateral and contractual commitments [line items] | |||
Collateral given for own liabilities | $ 306 | $ 310 | |
Cash guarantees for liabilities | 189 | 168 | |
Property collateral given for remaining own liabilities | 117 | 142 | |
Commitments to purchase property plant and equipment | 538 | 449 | |
Contractual commitments to acquire loans to customers | 72 | 142 | |
Other commitments | $ 1,800 | 1,943 | |
Stock lending arrangements shares | 30 | ||
Loaned securities | $ 30 | ||
CERVECERIA NACIONAL DOMINICANA S.A. [member] | Ambev [member] | |||
Disclosure of collateral and contractual commitments [line items] | |||
Ownership interest | 55% | 85% | |
Put option | $ 600 | $ 600 |
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, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about material tax [line items] | ||
Income tax and social contribution | $ 11,586 | $ 9,723 |
Value-added and excise taxes | 4,965 | 4,285 |
Other taxes | 854 | 663 |
Material tax net | $ 17,405 | $ 14,671 |
Contingencies - Additional Info
Contingencies - Additional Information (Detail) € in Millions, R$ in Millions, $ in Millions, ر.س in Billions, Tsh in Billions, $ in Billions | 6 Months Ended | 12 Months Ended | ||||||||||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 AUD ($) | Dec. 31, 2022 USD ($) shares | Dec. 31, 2022 BRL (R$) shares | Dec. 31, 2022 TZS (Tsh) shares | Dec. 31, 2022 SAR (ر.س) shares | Dec. 31, 2022 AUD ($) shares | Dec. 31, 2022 EUR (€) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) shares | Jan. 24, 2019 USD ($) | Jan. 24, 2019 EUR (€) | |
Disclosure of detailed information about material tax [line items] | ||||||||||||
Exposure to credit risk | $ 16,019 | $ 18,258 | ||||||||||
Provisions recorded | $ 572 | $ 605 | $ 763 | |||||||||
Number of shares issued | shares | 1,981,000,000 | 1,981,000,000 | 1,981,000,000 | 1,981,000,000 | 1,981,000,000 | 1,981,000,000 | 1,972,000,000 | 1,959,000,000 | ||||
Tax Loss Offset [Member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | $ 100 | R$ 500 | ||||||||||
Disallowance Of Tax Paid Abroad [Member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | (2,400) | 12,600 | ||||||||||
Disallowance Of Tax Paid Abroad [Member] | Nonrecognitionof tax offsets [Member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | 200 | 1,200 | ||||||||||
Deductibility Of IOC Expenses [Member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | 2,600 | 13,800 | ||||||||||
Manaus free trade zone IPI social contributions [member] | Nonrecognitionof tax offsets [Member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | 100 | 200 | ||||||||||
SAB Australia [member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | $ 0.4 | |||||||||||
Tax assessment amount | 300 | |||||||||||
AB INBEVS SOUTH AFRICA TAX MATTERS [Member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Contingent liabilities | 400 | ر.س 6.3 | ||||||||||
Ambev [member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | $ 1,100 | 5,900 | ||||||||||
Proportion of ownership interest in subsidiary | 61.77% | |||||||||||
Ambev [member] | IPI excise tax [member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | $ 300 | R$ 1700 | ||||||||||
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 | 172,831,574 | 172,831,574 | ||||||
Percentage of shares issued diluted | 1% | |||||||||||
Arosuco [member] | Disallowance Of Tax Paid Abroad [Member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | $ 400 | R$ 2300 | ||||||||||
Foster And Ab InBev Acquisition [Member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Payment made for income tax contingency settlement | $ 100 | $ 0.1 | ||||||||||
Cerbuco Brewing Inc [Member] | Cerveceria Bucanero S.A [Member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Proportion of ownership interest in subsidiary | 50% | |||||||||||
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 | 11 | 58 | ||||||||||
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 | 1,000 | 5,200 | ||||||||||
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 | 2,100 | 11,100 | ||||||||||
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 | 200 | 1,200 | ||||||||||
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 | 1,300 | ||||||||||
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 | 400 | 2,200 | ||||||||||
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 | 300 | 1,600 | ||||||||||
Tax Assessment in December [Member] | Ambev [member] | MAG [Member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | 100 | 300 | ||||||||||
Rio de Janeiro [member] | Arosuco [member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | 100 | 600 | ||||||||||
Minas Gerais [member] | Ambev [member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | 1,800 | 9,300 | ||||||||||
State Of Pernambuco [member] | Ambev [member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | $ 300 | R$ 1700 | ||||||||||
Tanzania [member] | TANZANIA BREWERIES PLC [member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Proportion of ownership interest in subsidiary | 39.65% | |||||||||||
Tanzania [member] | Tax contingent liability [member] | TANZANIA BREWERIES PLC [member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimated financial effect of contingent liabilities | $ 400 | Tsh 850 | ||||||||||
Tax asessment noticed on ownership change | 50% | 50% | 50% | 50% | 50% | 50% | ||||||
Rio Grando Do Sul And Sao Paulo [Member] | Tax Assessment in 2018 and 2021 [member] | Ambev [member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Estimate of possible loss | $ 100 | R$ 700 | ||||||||||
Blocked account [member] | ||||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||||
Provisions recorded | $ 72 | € 68 | ||||||||||
Deposits | $ 72 | € 68 |
Non-Controlling Interests - Add
Non-Controlling Interests - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Apollo Global Management Inc [Member] | |||
Disclosure of noncontrolling interests [line items] | |||
Percentage of minority interest sold | 49.90% | ||
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 | 61.77% | ||
Dividends paid to non-controlling interests | $ 1,000 | $ 800 | 700 |
Budweiser APAC [Member] | |||
Disclosure of noncontrolling interests [line items] | |||
Proportion of ownership interests in subsidiary | 87.22% | ||
Dividends paid to non-controlling interests | $ 83 | $ 67 | $ 59 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Summarized statement of financial position information | |||||
Current assets | $ 23,186 | $ 23,949 | |||
Non-current assets | 189,757 | 193,678 | |||
Current liabilities | 34,383 | 34,184 | |||
Non-current liabilities | 94,282 | 104,104 | |||
Equity attributable to equity holders | 73,398 | 68,669 | |||
Non-controlling interests | 10,880 | 10,671 | |||
Summarized income statement and comprehensive income information | |||||
Revenue | 57,786 | 54,304 | [1] | $ 46,881 | [1] |
Profit of the period | 7,597 | 6,114 | [1] | 2,202 | [1] |
Attributable to: | |||||
Equity holders | 5,969 | 4,670 | [1] | 1,405 | [1] |
Non-controlling interests | 1,628 | 1,444 | [1] | 797 | [1] |
Profit of the period | 7,597 | 6,114 | [1] | 2,202 | [1] |
Other comprehensive income | (1,315) | (3,881) | [1] | (10,104) | [1] |
Total comprehensive income/(loss) | 6,283 | 2,233 | (7,901) | ||
Attributable to: | |||||
Equity holders | 4,994 | 934 | (8,156) | ||
Non-controlling interests | 1,289 | 1,299 | 255 | ||
Summarized cash flow information | |||||
Cash flow from operating activities | 13,298 | 14,799 | [1] | 10,891 | [1] |
Cash flow from investing activities | (4,620) | (5,878) | [1] | 6,336 | [1] |
Cash flow from financing activities | (10,620) | (11,598) | [1] | (8,475) | [1] |
Ambev [member] | |||||
Summarized statement of financial position information | |||||
Current assets | 7,248 | 6,922 | |||
Non-current assets | 19,193 | 17,915 | |||
Current liabilities | 7,770 | 6,965 | |||
Non-current liabilities | 2,700 | 2,817 | |||
Equity attributable to equity holders | 15,707 | 14,809 | |||
Non-controlling interests | 263 | 246 | |||
Summarized income statement and comprehensive income information | |||||
Revenue | 15,434 | 13,570 | 11,373 | ||
Profit of the period | 2,883 | 2,444 | 2,286 | ||
Attributable to: | |||||
Equity holders | 2,800 | 2,360 | 2,217 | ||
Non-controlling interests | 84 | 84 | 69 | ||
Profit of the period | 2,883 | 2,444 | 2,286 | ||
Other comprehensive income | (1,300) | 629 | 1,467 | ||
Total comprehensive income/(loss) | 1,584 | 3,074 | 3,753 | ||
Attributable to: | |||||
Equity holders | 1,517 | 2,970 | 3,647 | ||
Non-controlling interests | 67 | 104 | 106 | ||
Summarized cash flow information | |||||
Cash flow from operating activities | 3,997 | 4,266 | 3,673 | ||
Cash flow from investing activities | (969) | (1,441) | (1,325) | ||
Cash flow from financing activities | (3,164) | (2,988) | (1,676) | ||
Net increase/(decrease) in cash and cash equivalents | (136) | (163) | 673 | ||
Budweiser APAC [Member] | |||||
Summarized statement of financial position information | |||||
Current assets | 3,606 | 3,161 | |||
Non-current assets | 12,390 | 13,464 | |||
Current liabilities | 4,414 | 4,691 | |||
Non-current liabilities | 748 | 851 | |||
Equity attributable to equity holders | 10,765 | 11,013 | |||
Non-controlling interests | 69 | 70 | |||
Summarized income statement and comprehensive income information | |||||
Revenue | 6,478 | 6,788 | 5,588 | ||
Profit of the period | 949 | 981 | 537 | ||
Attributable to: | |||||
Equity holders | 913 | 950 | 514 | ||
Non-controlling interests | 36 | 31 | 23 | ||
Profit of the period | 949 | 981 | 537 | ||
Other comprehensive income | (812) | (289) | 635 | ||
Total comprehensive income/(loss) | 137 | 692 | 1,172 | ||
Attributable to: | |||||
Equity holders | 105 | 660 | 1,147 | ||
Non-controlling interests | 32 | 32 | 25 | ||
Summarized cash flow information | |||||
Cash flow from operating activities | 1,577 | 1,903 | 1,301 | ||
Cash flow from investing activities | (440) | (731) | (572) | ||
Cash flow from financing activities | (500) | (464) | (432) | ||
Net increase/(decrease) in cash and cash equivalents | $ 637 | $ 708 | $ 297 | ||
[1]Amended to conform to 2022 presentation. |
Related Parties - Summary of Di
Related Parties - Summary of Directors and Executive Board Management Compensation (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
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 Committee [member] | |||
Disclosure of transactions between related parties [line items] | |||
Short-term employee benefits | 15 | 24 | 4 |
Termination benefits | 0 | 0 | 2 |
Share-based payment | 35 | 33 | 7 |
Total Compensation | $ 50 | $ 57 | $ 13 |
Related Parties - Additional In
Related Parties - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Information technology and infrastructure services [member] | |||
Disclosure of transactions between related parties [line items] | |||
Amount received on services rendered | $ 0 | $ 1,000,000 | $ 1,000,000 |
BAVARIA S.A. [member] | |||
Disclosure of transactions between related parties [line items] | |||
Sales with people with significant influence | 33,000,000 | 19,000,000 | 13,000,000 |
Other income | 1,000,000 | $ 3,000,000 | |
Grupo Modelo and Subsidiaries [member] | |||
Disclosure of transactions between related parties [line items] | |||
Name of acquiree | Grupo Modelo and its subsidiaries | ||
United States defined benefit plans [member] | |||
Disclosure of transactions between related parties [line items] | |||
Other income | $ (12,000,000) | $ (12,000,000) | $ (12,000,000) |
Related Parties - Summary of AB
Related Parties - Summary of AB InBev's Transactions with Associates (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of associates [line items] | |||||
Gross profit | $ 31,481 | $ 31,207 | [1] | $ 27,247 | [1] |
Current assets | 23,186 | 23,949 | |||
Current liabilities | 34,383 | 34,184 | |||
Associates [member] | |||||
Disclosure of associates [line items] | |||||
Gross profit | (4) | 58 | (118) | ||
Current assets | 100 | 57 | 55 | ||
Current liabilities | $ 16 | $ 99 | $ 115 | ||
[1]Amended to conform to 2022 presentation. |
Supplemental Guarantor Financ_3
Supplemental Guarantor Financial Information - Additional Information (Detail) | Dec. 31, 2022 |
Anheuser- Busch InBev SA/NV [member] | |
Disclosure of supplemental guarantor information [line items] | |
Percentage of voting equity interests acquired | 100% |
Supplemental Guarantor Financ_4
Supplemental Guarantor Financial Information - Schedule of Condensed Consolidated Income Statement (Detail) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | [1] | |||
Condensed Financial Statements, Captions [Line Items] | ||||||
Revenue | $ 57,786 | $ 54,304 | [1] | $ 46,881 | ||
Cost of sales | (26,305) | (23,097) | [1] | (19,634) | ||
Gross profit | 31,481 | 31,207 | [1] | 27,247 | ||
Profit from operations | 14,517 | 13,824 | [1] | 9,620 | ||
Net finance income/(cost) | (4,148) | (5,609) | [1] | (7,697) | ||
Income tax expense | (1,928) | (2,350) | [1] | (1,932) | ||
Profit from continuing operations | 7,597 | 6,114 | [1] | 147 | ||
Profit of the year | 7,597 | 6,114 | [1] | $ 2,202 | ||
Consolidated [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Revenue | 14,932 | 14,576 | ||||
Cost of sales | (6,310) | (5,737) | ||||
Gross profit | 8,183 | 8,339 | ||||
Selling, general and administrative expense | (4,501) | (4,557) | ||||
Other operating income/(expenses) | [2] | 7 | (189) | |||
Profit from operations | 3,542 | 3,491 | ||||
Net finance income/(cost) | [2] | (2,785) | (4,825) | |||
Share of result of associates and joint ventures | 2 | |||||
Income tax expense | (393) | (377) | ||||
Profit from continuing operations | 975 | 2,055 | ||||
Profit of the year | 975 | 2,055 | ||||
Non-Guarantors Subsidiaries [member] | Consolidated [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Revenue | 299 | 344 | ||||
Cost of sales | (738) | (844) | ||||
Selling, general and administrative expense | (327) | (253) | ||||
Other operating income/(expenses) | 179 | 151 | ||||
Net finance income/(cost) | 611 | 3,764 | ||||
Income from subsidiaries | 0 | |||||
Anheuser- Busch InBev SA/NV [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Revenue | 443 | 472 | ||||
Cost of sales | (280) | (275) | ||||
Gross profit | 99 | 147 | ||||
Selling, general and administrative expense | (609) | (589) | ||||
Other operating income/(expenses) | [2] | 34 | 2 | |||
Profit from operations | (11) | (220) | ||||
Net finance income/(cost) | [2] | (701) | (1,016) | |||
Income tax expense | (15) | (13) | ||||
Profit from continuing operations | (474) | (961) | ||||
Profit of the year | 5,969 | 4,670 | ||||
Anheuser- Busch InBev SA/NV [member] | Non-Guarantors Subsidiaries [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Revenue | 103 | 122 | ||||
Cost of sales | (152) | (157) | ||||
Selling, general and administrative expense | (4) | (17) | ||||
Other operating income/(expenses) | 43 | 37 | ||||
Net finance income/(cost) | 17 | 149 | ||||
Income from subsidiaries | 5,958 | 4,717 | ||||
Anheuser- Busch InBev SA/NV [member] | Guarantor Subsidiaries [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Cost of sales | (14) | (15) | ||||
Selling, general and administrative expense | 287 | 158 | ||||
Other operating income/(expenses) | 138 | 42 | ||||
Net finance income/(cost) | 236 | 139 | ||||
Income from subsidiaries | 485 | 914 | ||||
Anheuser Busch InBev Worldwide Inc. [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Profit from operations | 1,233 | 1,308 | ||||
Net finance income/(cost) | [2] | (1,492) | (2,088) | |||
Income tax expense | (125) | (56) | ||||
Profit from continuing operations | 409 | (125) | ||||
Profit of the year | 1,423 | 2,794 | ||||
Anheuser Busch InBev Worldwide Inc. [member] | Non-Guarantors Subsidiaries [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Net finance income/(cost) | (210) | 2,025 | ||||
Income from subsidiaries | (3) | (58) | ||||
Anheuser Busch InBev Worldwide Inc. [member] | Guarantor Subsidiaries [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Selling, general and administrative expense | 1,237 | 1,313 | ||||
Other operating income/(expenses) | (4) | (5) | ||||
Net finance income/(cost) | 1,003 | (1,314) | ||||
Income from subsidiaries | 1,018 | 2,977 | ||||
Anheuser Busch InBev Finance Inc. [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Net finance income/(cost) | [2] | (295) | (346) | |||
Income tax expense | (3) | (12) | ||||
Profit from continuing operations | 12 | 52 | ||||
Profit of the year | 12 | 52 | ||||
Anheuser Busch InBev Finance Inc. [member] | Non-Guarantors Subsidiaries [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Net finance income/(cost) | 19 | 60 | ||||
Income from subsidiaries | 0 | |||||
Anheuser Busch InBev Finance Inc. [member] | Guarantor Subsidiaries [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Net finance income/(cost) | 292 | 350 | ||||
Anheuser Busch Companies [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Revenue | 14,489 | 14,104 | ||||
Cost of sales | (6,030) | (5,462) | ||||
Gross profit | 8,090 | 8,197 | ||||
Selling, general and administrative expense | (3,889) | (3,974) | ||||
Other operating income/(expenses) | [2] | (26) | (191) | |||
Profit from operations | 2,315 | 2,370 | ||||
Net finance income/(cost) | [2] | (984) | (1,484) | |||
Share of result of associates and joint ventures | 2 | |||||
Income tax expense | (250) | (296) | ||||
Profit from continuing operations | 818 | 2,581 | ||||
Profit of the year | 1,018 | 2,782 | ||||
Anheuser Busch Companies [member] | Non-Guarantors Subsidiaries [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Revenue | 196 | 222 | ||||
Cost of sales | (585) | (687) | ||||
Selling, general and administrative expense | (329) | (248) | ||||
Other operating income/(expenses) | 136 | 114 | ||||
Net finance income/(cost) | 773 | 713 | ||||
Income from subsidiaries | 199 | 201 | ||||
Anheuser Busch Companies [member] | Guarantor Subsidiaries [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Revenue | 57 | 54 | ||||
Cost of sales | (36) | (34) | ||||
Selling, general and administrative expense | (1,535) | (1,491) | ||||
Other operating income/(expenses) | (133) | (37) | ||||
Net finance income/(cost) | (1,035) | 1,276 | ||||
Income from subsidiaries | 0 | |||||
Brandbrew, Brandbev and Cobrew [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Selling, general and administrative expense | (3) | 6 | ||||
Other operating income/(expenses) | [2] | (1) | ||||
Profit from operations | 6 | 33 | ||||
Net finance income/(cost) | [2] | 686 | 109 | |||
Income tax expense | 0 | |||||
Profit from continuing operations | 210 | 508 | ||||
Profit of the year | 473 | 869 | ||||
Brandbrew, Brandbev and Cobrew [member] | Non-Guarantors Subsidiaries [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Selling, general and administrative expense | 7 | 12 | ||||
Net finance income/(cost) | 14 | 817 | ||||
Income from subsidiaries | 263 | 361 | ||||
Brandbrew, Brandbev and Cobrew [member] | Guarantor Subsidiaries [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Selling, general and administrative expense | 4 | 15 | ||||
Net finance income/(cost) | (495) | (451) | ||||
Income from subsidiaries | 0 | |||||
Eliminations [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Gross profit | (6) | (5) | ||||
Profit from operations | 0 | |||||
Income tax expense | 0 | |||||
Profit of the year | (7,920) | (9,112) | ||||
Eliminations [member] | Non-Guarantors Subsidiaries [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Income from subsidiaries | (6,418) | (5,221) | ||||
Eliminations [member] | Guarantor Subsidiaries [member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Revenue | (57) | (54) | ||||
Cost of sales | 51 | 49 | ||||
Selling, general and administrative expense | 6 | 5 | ||||
Net finance income/(cost) | 0 | |||||
Income from subsidiaries | $ (1,503) | $ (3,891) | ||||
[1]Amended to conform to 2022 presentation.[2]Other operating income/(expenses) and Net finance income/(cost) include exceptional items. |
Supplemental Guarantor Financ_5
Supplemental Guarantor Financial Information - Schedule of Condensed Consolidated Statement of Financial Position (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Non-current assets | ||||
Property, plant and equipment | $ 26,671 | $ 26,678 | ||
Derivatives | 60 | 48 | ||
Total non-current assets | 189,757 | 193,678 | ||
Current assets | ||||
Inventories | 6,612 | 5,399 | ||
Derivatives | 331 | 621 | ||
Trade and other receivables | 5,330 | 5,046 | ||
Cash and cash equivalents | 9,973 | 12,097 | ||
Total current assets | 23,186 | 23,949 | ||
Equity | ||||
Total equity | 84,278 | 79,340 | $ 78,351 | $ 84,553 |
Non-current liabilities | ||||
Interest-bearing loans and borrowings | 78,880 | 87,369 | ||
Employee benefits | 1,534 | 2,261 | ||
Derivatives | 184 | 100 | ||
Total non-current liabilities | 94,282 | 104,104 | ||
Current liabilities | ||||
Interest-bearing loans and borrowings | 1,029 | 1,408 | ||
Derivatives | 5,308 | 5,786 | ||
Bank Overdrafts | 1,438 | 1,334 | ||
Trade and other payables | 26,349 | 25,434 | ||
Total current liabilities | 34,383 | 34,184 | ||
Consolidated [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 99,031 | 78,031 | ||
Property, plant and equipment | 4,438 | 4,405 | ||
Goodwill and intangible assets | 57,210 | 56,744 | ||
Derivatives | 59 | 48 | ||
Other non-current assets | 270 | 237 | ||
Other non-current assets | 61,978 | 61,434 | ||
Total non-current assets | 161,009 | 139,465 | ||
Current assets | ||||
Due from subsidiaries | 3,595 | 7,160 | ||
Inventories | 939 | 961 | ||
Derivatives | 239 | 425 | ||
Trade and other receivables | 1,062 | 756 | ||
Cash and cash equivalents | 10,843 | 9,664 | ||
Other current assets | 284 | 68 | ||
Other current assets | 13,367 | 11,874 | ||
Total current assets | 16,962 | 19,034 | ||
Equity | ||||
Total equity | 33,250 | (21,018) | ||
Non-current liabilities | ||||
Due to subsidiaries | 24,657 | 48,960 | ||
Interest-bearing loans and borrowings | 77,092 | 85,720 | ||
Employee benefits | 472 | 806 | ||
Deferred tax liabilities | 6,555 | 6,581 | ||
Derivatives | 184 | 100 | ||
Other non-current liabilities | 198 | 110 | ||
Other non-current liabilities | 84,502 | 93,317 | ||
Total non-current liabilities | 109,159 | 142,277 | ||
Current liabilities | ||||
Due to subsidiaries | 12,894 | 14,937 | ||
Interest-bearing loans and borrowings | 66 | 238 | ||
Derivatives | 5,135 | 5,680 | ||
Bank Overdrafts | 11,986 | 10,768 | ||
Trade and other payables | 5,363 | 5,463 | ||
Other current liabilities | 117 | 154 | ||
Other current liabilities | 22,668 | 22,303 | ||
Total current liabilities | 35,562 | 37,240 | ||
Non-Guarantors Subsidiaries [member] | Consolidated [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 99,031 | 78,031 | ||
Current assets | ||||
Due from subsidiaries | 3,595 | 7,160 | ||
Non-current liabilities | ||||
Due to subsidiaries | 24,657 | 48,960 | ||
Current liabilities | ||||
Due to subsidiaries | 12,894 | 14,937 | ||
Anheuser- Busch InBev SA/NV [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 11,750 | 13,141 | ||
Property, plant and equipment | 32 | 62 | ||
Goodwill and intangible assets | 1,538 | 1,364 | ||
Investments in subsidiaries | 112,409 | 112,722 | ||
Other non-current assets | 113,980 | 114,148 | ||
Total non-current assets | 125,729 | 127,289 | ||
Current assets | ||||
Due from subsidiaries | 1,457 | 1,301 | ||
Trade and other receivables | 166 | 201 | ||
Cash and cash equivalents | 73 | 1,127 | ||
Other current assets | 8 | 9 | ||
Other current assets | 248 | 1,337 | ||
Total current assets | 1,705 | 2,638 | ||
Equity | ||||
Total equity | 73,398 | 68,669 | ||
Non-current liabilities | ||||
Due to subsidiaries | 20,311 | 23,593 | ||
Interest-bearing loans and borrowings | 22,833 | 25,483 | ||
Employee benefits | 3 | 3 | ||
Other non-current liabilities | 0 | |||
Other non-current liabilities | 22,836 | 25,486 | ||
Total non-current liabilities | 43,147 | 49,079 | ||
Current liabilities | ||||
Due to subsidiaries | 2,517 | 4,902 | ||
Interest-bearing loans and borrowings | 0 | 1 | ||
Derivatives | 2 | 2 | ||
Bank Overdrafts | 7,477 | 6,292 | ||
Trade and other payables | 821 | 905 | ||
Other current liabilities | 73 | 77 | ||
Other current liabilities | 8,372 | 7,277 | ||
Total current liabilities | 10,889 | 12,179 | ||
Anheuser- Busch InBev SA/NV [member] | Non-Guarantors Subsidiaries [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 11,750 | 13,141 | ||
Current assets | ||||
Due from subsidiaries | 909 | 646 | ||
Non-current liabilities | ||||
Due to subsidiaries | 16,496 | 17,517 | ||
Current liabilities | ||||
Due to subsidiaries | 258 | 244 | ||
Anheuser- Busch InBev SA/NV [member] | Guarantor Subsidiaries [member] | ||||
Current assets | ||||
Due from subsidiaries | 548 | 655 | ||
Non-current liabilities | ||||
Due to subsidiaries | 3,815 | 6,076 | ||
Current liabilities | ||||
Due to subsidiaries | 2,259 | 4,658 | ||
Anheuser Busch InBev Worldwide Inc. [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 11,682 | 15,102 | ||
Investments in subsidiaries | 79,331 | 79,596 | ||
Other non-current assets | 240 | 207 | ||
Other non-current assets | 79,570 | 79,803 | ||
Total non-current assets | 91,252 | 94,905 | ||
Current assets | ||||
Due from subsidiaries | 7,051 | 5,934 | ||
Cash and cash equivalents | 1 | 7 | ||
Other current assets | 273 | 0 | ||
Other current assets | 274 | 7 | ||
Total current assets | 7,325 | 5,941 | ||
Equity | ||||
Total equity | 55,459 | 57,635 | ||
Non-current liabilities | ||||
Due to subsidiaries | 12,018 | 8,558 | ||
Interest-bearing loans and borrowings | 30,541 | 33,064 | ||
Other non-current liabilities | 30,541 | 33,064 | ||
Total non-current liabilities | 42,559 | 41,622 | ||
Current liabilities | ||||
Due to subsidiaries | 38 | 756 | ||
Interest-bearing loans and borrowings | 0 | 218 | ||
Bank Overdrafts | 0 | |||
Trade and other payables | 521 | 543 | ||
Other current liabilities | 0 | 72 | ||
Other current liabilities | 521 | 833 | ||
Total current liabilities | 559 | 1,589 | ||
Anheuser Busch InBev Worldwide Inc. [member] | Non-Guarantors Subsidiaries [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 5,033 | 15,102 | ||
Current assets | ||||
Due from subsidiaries | 154 | 0 | ||
Non-current liabilities | ||||
Due to subsidiaries | 2,960 | 7,325 | ||
Current liabilities | ||||
Due to subsidiaries | 13 | 732 | ||
Anheuser Busch InBev Worldwide Inc. [member] | Guarantor Subsidiaries [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 6,649 | |||
Current assets | ||||
Due from subsidiaries | 6,897 | 5,934 | ||
Non-current liabilities | ||||
Due to subsidiaries | 9,058 | 1,233 | ||
Current liabilities | ||||
Due to subsidiaries | 25 | 24 | ||
Anheuser Busch InBev Finance Inc. [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 3,815 | 7,276 | ||
Other non-current assets | 10 | |||
Other non-current assets | 10 | |||
Total non-current assets | 3,825 | 7,276 | ||
Current assets | ||||
Due from subsidiaries | 428 | 802 | ||
Cash and cash equivalents | 0 | 7 | ||
Other current assets | 0 | 7 | ||
Total current assets | 428 | 809 | ||
Equity | ||||
Total equity | 380 | 678 | ||
Non-current liabilities | ||||
Due to subsidiaries | 0 | |||
Interest-bearing loans and borrowings | 3,802 | 7,268 | ||
Deferred tax liabilities | 0 | 1 | ||
Other non-current liabilities | 3,802 | 7,269 | ||
Total non-current liabilities | 3,802 | 7,269 | ||
Current liabilities | ||||
Due to subsidiaries | 0 | |||
Interest-bearing loans and borrowings | 0 | |||
Bank Overdrafts | 0 | 2 | ||
Trade and other payables | 69 | 131 | ||
Other current liabilities | 2 | 5 | ||
Other current liabilities | 71 | 138 | ||
Total current liabilities | 71 | 138 | ||
Anheuser Busch InBev Finance Inc. [member] | Non-Guarantors Subsidiaries [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 0 | 1,200 | ||
Current assets | ||||
Due from subsidiaries | 363 | 71 | ||
Current liabilities | ||||
Due to subsidiaries | 0 | |||
Anheuser Busch InBev Finance Inc. [member] | Guarantor Subsidiaries [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 3,815 | 6,076 | ||
Current assets | ||||
Due from subsidiaries | 65 | 731 | ||
Anheuser Busch Companies [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 73,067 | 33,325 | ||
Property, plant and equipment | 4,406 | 4,343 | ||
Goodwill and intangible assets | 55,575 | 55,283 | ||
Investments in subsidiaries | 21,018 | 35,862 | ||
Other non-current assets | 21 | 30 | ||
Other non-current assets | 81,020 | 95,518 | ||
Total non-current assets | 154,087 | 128,843 | ||
Current assets | ||||
Due from subsidiaries | 2,086 | 3,088 | ||
Inventories | 939 | 961 | ||
Derivatives | 34 | 132 | ||
Trade and other receivables | 745 | 546 | ||
Cash and cash equivalents | 110 | 367 | ||
Other current assets | 0 | 57 | ||
Other current assets | 1,828 | 2,063 | ||
Total current assets | 3,914 | 5,151 | ||
Equity | ||||
Total equity | 108,991 | 71,348 | ||
Non-current liabilities | ||||
Due to subsidiaries | 8,500 | 20,768 | ||
Interest-bearing loans and borrowings | 19,916 | 19,905 | ||
Employee benefits | 469 | 803 | ||
Deferred tax liabilities | 6,538 | 6,520 | ||
Other non-current liabilities | 198 | 110 | ||
Other non-current liabilities | 27,122 | 27,338 | ||
Total non-current liabilities | 35,622 | 48,106 | ||
Current liabilities | ||||
Due to subsidiaries | 9,272 | 10,646 | ||
Interest-bearing loans and borrowings | 66 | 19 | ||
Derivatives | 95 | 12 | ||
Bank Overdrafts | 0 | |||
Trade and other payables | 3,911 | 3,863 | ||
Other current liabilities | 43 | 0 | ||
Other current liabilities | 4,115 | 3,894 | ||
Total current liabilities | 13,387 | 14,540 | ||
Anheuser Busch Companies [member] | Non-Guarantors Subsidiaries [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 64,009 | 32,092 | ||
Current assets | ||||
Due from subsidiaries | 1,993 | 3,007 | ||
Non-current liabilities | ||||
Due to subsidiaries | 1,851 | 20,768 | ||
Current liabilities | ||||
Due to subsidiaries | 2,321 | 4,771 | ||
Anheuser Busch Companies [member] | Guarantor Subsidiaries [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 9,058 | 1,233 | ||
Current assets | ||||
Due from subsidiaries | 93 | 81 | ||
Non-current liabilities | ||||
Due to subsidiaries | 6,649 | |||
Current liabilities | ||||
Due to subsidiaries | 6,951 | 5,875 | ||
Brandbrew, Brandbev and Cobrew [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 18,240 | 16,496 | ||
Goodwill and intangible assets | 97 | 97 | ||
Investments in subsidiaries | 15,461 | 15,017 | ||
Derivatives | 59 | 48 | ||
Other non-current assets | 0 | |||
Other non-current assets | 15,617 | 15,162 | ||
Total non-current assets | 33,857 | 31,658 | ||
Current assets | ||||
Due from subsidiaries | 1,913 | 6,838 | ||
Derivatives | 205 | 293 | ||
Trade and other receivables | 151 | 9 | ||
Cash and cash equivalents | 10,659 | 8,156 | ||
Other current assets | 2 | 2 | ||
Other current assets | 11,018 | 8,460 | ||
Total current assets | 12,931 | 15,298 | ||
Equity | ||||
Total equity | 23,241 | 23,849 | ||
Non-current liabilities | ||||
Due to subsidiaries | 3,350 | 3,350 | ||
Deferred tax liabilities | 16 | 60 | ||
Derivatives | 184 | 100 | ||
Other non-current liabilities | 200 | 160 | ||
Total non-current liabilities | 3,550 | 3,510 | ||
Current liabilities | ||||
Due to subsidiaries | 10,408 | 9,436 | ||
Derivatives | 5,038 | 5,666 | ||
Bank Overdrafts | 4,509 | 4,474 | ||
Trade and other payables | 41 | 21 | ||
Other current liabilities | 9,588 | 10,161 | ||
Total current liabilities | 19,996 | 19,597 | ||
Brandbrew, Brandbev and Cobrew [member] | Non-Guarantors Subsidiaries [member] | ||||
Non-current assets | ||||
Due from subsidiaries | 18,240 | 16,496 | ||
Current assets | ||||
Due from subsidiaries | 176 | 3,436 | ||
Non-current liabilities | ||||
Due to subsidiaries | 3,350 | 3,350 | ||
Current liabilities | ||||
Due to subsidiaries | 10,302 | 9,190 | ||
Brandbrew, Brandbev and Cobrew [member] | Guarantor Subsidiaries [member] | ||||
Current assets | ||||
Due from subsidiaries | 1,737 | 3,402 | ||
Current liabilities | ||||
Due to subsidiaries | 106 | 246 | ||
Eliminations [member] | ||||
Non-current assets | ||||
Due from subsidiaries | (19,522) | (7,309) | ||
Investments in subsidiaries | (228,219) | (243,197) | ||
Other non-current assets | (228,219) | (243,197) | ||
Total non-current assets | (247,741) | (250,506) | ||
Current assets | ||||
Due from subsidiaries | (9,342) | (10,803) | ||
Total current assets | (9,342) | (10,803) | ||
Equity | ||||
Total equity | (228,219) | (243,197) | ||
Non-current liabilities | ||||
Due to subsidiaries | (19,522) | (7,309) | ||
Total non-current liabilities | (19,522) | (7,309) | ||
Current liabilities | ||||
Due to subsidiaries | (9,342) | (10,803) | ||
Total current liabilities | (9,342) | (10,803) | ||
Eliminations [member] | Guarantor Subsidiaries [member] | ||||
Non-current assets | ||||
Due from subsidiaries | (19,522) | (7,309) | ||
Current assets | ||||
Due from subsidiaries | (9,342) | (10,803) | ||
Non-current liabilities | ||||
Due to subsidiaries | (19,522) | (7,309) | ||
Current liabilities | ||||
Due to subsidiaries | $ (9,342) | $ (10,803) |
AB INBEV Companies - Summary of
AB INBEV Companies - Summary of Name and Registered Office of Fully Consolidated Companies (Detail) | 12 Months Ended | |
Dec. 31, 2022 | ||
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 | 61.62% | |
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] | Brouwerij 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% | |
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% | |
Belgium [member] | InBev Belgium BV/SRL [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | InBev Belgium BV/SRL - Boulevard Industriel, 21 - 1070 Anderlecht | |
Proportion of ownership interest in subsidiary | 100% | |
Belgium [member] | Anheuser-Busch InBev NV [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Anheuser-Busch InBev NV - Grand Place 1 - 1000 Brussels | |
Bolivia [member] | Cervecería Boliviana Nacional S.A. [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Cervecería Boliviana Nacional S.A. - Av. Montes 400 & Calle Chuquisaca No. 121, Zona Challapampa, La Paz | |
Proportion of ownership interest in subsidiary | 52.72% | |
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, Kudu Road, Broadhurst Industrial Estate - PO Box 1157 - Gaborone¹ | [1] |
Proportion of ownership interest in subsidiary | 31.06% | |
Brazil [Member] | Ambev S.A.[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, São Paulo | |
Proportion of ownership interest in subsidiary | 61.77% | |
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 | 61.77% | |
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, Quilicura - 8700000 Santiago de Chile | |
Proportion of ownership interest in subsidiary | 61.77% | |
China [member] | Anheuser-Busch Inbev (China) Sales Company Limited [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Anheuser-Busch Inbev (China) Sales Company Limited - 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) Brewing Co., Ltd. [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Anheuser-Busch InBev (Wuhan) Brewing 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 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 - No.1 West Xuejin Avenue,Hanjiang District - 351111 - Putian City, Fujian Province | |
Proportion of ownership interest in subsidiary | 87.22% | |
China [member] | Anheuser-Busch InBev Southeast Sales Co., Ltd [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Anheuser-Busch InBev Southeast Sales Co., Ltd. - No.1 West Xuejin Avenue, Hanjiang District, Putian, Fujian , P.R.China - 351111 - Putian City, Fujian Province | |
Proportion of ownership interest in subsidiary | 87.22% | |
China [member] | Blue Girl Beer (Guangzhou) Co. Ltd [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Blue Girl Beer (Guangzhou) Co. Ltd - Units 2101,21/F, Tower A, China International Centre, 33 Zhongshan San Road - 510000 - Guangzhou City | |
Proportion of ownership interest in subsidiary | 56.69% | |
Colombia [member] | Bavaria & Cia S.C.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 | 99.16% | |
Czech Republic [member] | Pivovar Samson s.r.o. [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Pivovar Samson s.r.o. - Lidická 458/51, 37001, České Budějovice | |
Proportion of ownership interest in subsidiary | 100% | |
Dominican Republic [member] | Cervecería Nacional Dominicana S.A. [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Cervecería Nacional Dominicana S.A. - Autopista 30 de Mayo Km 61/2, Distrito Nacional - A.P. 10100 - Santo Domingo | |
Proportion of ownership interest in subsidiary | 52.51% | |
Ecuador [member] | Cervecería Nacional S.A. [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Cervecería Nacional S.A. - Via a daule km 16,5 y calle cobre s/n - EC090150 - Guayaquil, Guayas | |
Proportion of ownership interest in subsidiary | 95.58% | |
El Salvador [member] | La Constancia Ltda de C.V. [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | La Constancia Ltda de C.V. - Avenida Independencia, No 526 - PBX (503) 2209-7555 - San Salvador | |
Proportion of ownership interest in subsidiary | 100% | |
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% | |
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% | |
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% | |
Ghana [member] | ACCRA BREWERY LTD [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Accra Brewery PLC - 20 Graphic Road, South Industrial Area - Box GP1219 - Accra | |
Proportion of ownership interest in subsidiary | 61.61% | |
Luxembourg [member] | Brasserie de Luxembourg Mousel-Diekirch S.A. [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Brasserie de Luxembourg Mousel-Diekirch S.A. - Rue de la Brasserie, 1 - 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 S.A. de C.V. - Boulevard del Norte - Postal No. 86 - San Pedro Sula | |
Proportion of ownership interest in subsidiary | 99.61% | |
Hong Kong [member] | Budweiser Brewing Company APAC Limited [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Budweiser Brewing Company APAC Limited - Suites 3012-16, Tower Two, 1 Matheson Street, Causeway Bay, Hong Kong | |
Proportion of ownership interest in subsidiary | 87.22% | |
India [member] | Crown Beers India Private [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Crown Beers India Private Limited - 510/511, Minerva House, Sarojini Devi Road - 500003 - Secunderabad, Telangana | |
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 | 87.05% | |
Italy [member] | Anheuser-Busch InBev Italia [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Anheuser-Busch InBev Italia - Via Fratelli Castiglioni, 8, 20124 Milano MI, Italy | |
Proportion of ownership interest in subsidiary | 100% | |
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 | Cervecería Modelo de México S. de R.L. de C.V. - Cerrada de Palomas 22, 6th Floor, Reforma Social, Miguel Hidalgo, 11650 Mexico City | |
Proportion of ownership interest in subsidiary | 100% | |
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% | |
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% | |
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% | |
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, Ikoyi¹ | |
Proportion of ownership interest in subsidiary | 43% | |
Panama [member] | Cerveceria Nacional S. de R.L. [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Cervecería Nacional S. de R.L. - Complejo Business Park, Costa del Este Torre Oeste, Piso No.2 Panamá | |
Proportion of ownership interest in subsidiary | 61.77% | |
Paraguay [member] | CERVECERIA PARAGUAYA S.A. [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Cervecería Paraguaya S.A. - Ruta Acceso Sur Km 30 s/ Desvío a Villeta N° 825 | |
Proportion of ownership interest in subsidiary | 53.96% | |
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) - 25 - Lima | |
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 S.A.A. - Av. Nicolas Ayllon 3986, Ate - 3 - Lima | |
Proportion of ownership interest in subsidiary | 93.65% | |
South Africa [member] | SABSA Holdings (Pty) Ltd [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | SABSA Holdings (Pty) Ltd - 65 Park Lane, Sandown - 2001 - Johannesburg | |
Proportion of ownership interest in subsidiary | 100% | |
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 - 65 Park Lane, Sandown - 2146 - Johannesburg | |
Proportion of ownership interest in subsidiary | 100% | |
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 - 517, Yeongdong-daero, Gangam-gu, Seoul - Asem Tower 8th floor - Seoul | |
Proportion of ownership interest in subsidiary | 87.22% | |
Switzerland [member] | Anheuser-Busch InBev Procurement GmbH [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Anheuser-Busch InBev Procurement GmbH - Suurstoffi 22 - 6343 - Rotkreuz | |
Proportion of ownership interest in subsidiary | 100% | |
Tanzania [member] | TANZANIA BREWERIES PLC [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Tanzania Breweries PLC - Uhuru Street, Plot No 79, Block AA, Mchikichini, Ilala District, Dar es Salaam¹ | |
Proportion of ownership interest in subsidiary | 39.65% | |
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 Road, Njeru - P.O. Box 762 - Jinja | |
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 - EC4A 1EN - London | |
Proportion of ownership interest in subsidiary | 100% | |
United Kingdom [member] | ABI UK Holding 1 Limited [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | ABI UK Holding 1 Limited - Bureau, 90 Fetter Lane - EC4A 1EN - London | |
Proportion of ownership interest in subsidiary | 100% | |
United Kingdom [member] | AB InBev UK Limited [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | AB InBev UK Limited - Bureau, 90 Fetter Lane - EC4A 1EN - London | |
Proportion of ownership interest in subsidiary | 100% | |
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 - EC4A 1EN - London | |
Proportion of ownership interest in subsidiary | 100% | |
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 - AB InBev House, Church Street West, Woking, Surrey, GU21 6HT | |
Proportion of ownership interest in subsidiary | 100% | |
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 - EC4A 1EN - London | |
Proportion of ownership interest in subsidiary | 100% | |
United States [member] | Anheuser-Busch Companies LLC [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Anheuser-Busch Companies LLC - One Busch Place - MO 63118 - St. Louis | |
Proportion of ownership interest in subsidiary | 100% | |
United States [member] | Anheuser-Busch International LLC [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Anheuser-Busch International LLC - One Busch Place - MO 63118 - St. Louis | |
Proportion of ownership interest in subsidiary | 100% | |
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 - MO 63118 - St. Louis | |
Proportion of ownership interest in subsidiary | 100% | |
United States [member] | MCC Holding Company LLC [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | MCC Holding Company LLC - One Busch Place - MO 63118 - St. Louis | |
Proportion of ownership interest in subsidiary | 50.10% | |
United States [member] | Anheuser-Busch North American Holding LLC [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Anheuser-Busch North American Holding LLC - One Busch Place - MO 63118 - St. Louis | |
Proportion of ownership interest in subsidiary | 100% | |
United States [member] | Anheuser-Busch Americas Holdings LLC [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Anheuser-Busch Americas Holdings LLC - One Busch Place - MO 63118 - St. Louis | |
Proportion of ownership interest in subsidiary | 100% | |
United States [member] | Anheuser-Busch InBev Worldwide Inc [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Anheuser-Busch InBev Worldwide Inc. - One Busch Place - MO 63118 - St. Louis | |
Proportion of ownership interest in subsidiary | 100% | |
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 | 61.77% | |
Vietnam [member] | Anheuser-Busch InBev Vietnam Brewery Co., Ltd [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Anheuser-Busch InBev Vietnam Brewery Co., Ltd - 2 VSIP II-A, Street No. 28 - 820000 - Tan Uyen Town, 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 - Plot No 6438, Mungwi Road - P.O. Box 31293 - Lusaka | |
Proportion of ownership interest in subsidiary | 54.02% | |
SPAIN | COMPANIA CERVECERA DE CANARIAS, S.A [member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Address of entity's registered office | Compañía Cervecera de Canarias S.A. - C/ Mali, 7 (38320 La Laguna - Santa Cruz de Tenerife) | |
Proportion of ownership interest in subsidiary | 51.03% | |
[1]The company is consolidated due to the group’s majority shareholders and ability to control the operations. |
AB INBEV Companies - Summary _2
AB INBEV Companies - Summary of Name and Registered Office of Associates (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
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 | Société des brasseries et glacières internationales S.A. - 49 rue François 1er - 75008 - Paris¹ |
Proportion of ownership interest in subsidiary | 20% |
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 A.S. - Bahçelievler Mahallesi, Sehit Ibrahim Koparir Caddesi No. 4, Bahçelievler Istanbul |
Proportion of ownership interest in subsidiary | 24% |
Zimbabwe [member] | Delta Corporation Limited [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | Delta Corporation Limited - Sable House, Northridge Close, Borrowdale - P.O. Box BW 343 - Harare |
Proportion of ownership interest in subsidiary | 25.27% |
Luxembourg [member] | B.I.H. Brasseries Internationales Holding (Angola) Limited [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | B.I.H. Brasseries Internationales Holding (Angola) Limited - 34-38 Avenue de la Liberté - 1930 Luxembourg¹ |
Proportion of ownership interest in subsidiary | 27.50% |
Luxembourg [member] | B.I.H. Brasseries Internationales Holding Limited [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | B.I.H. Brasseries Internationales Holding Limited - 34-38 Avenue de la Liberté - 1930 Luxembourg¹ |
Proportion of ownership interest in subsidiary | 20% |
Netherlands [member] | AB InBev Efes B.V [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Address of entity's registered office | AB InBev Efes B.V. - 1227 Strawinskylaan - 1077XX Amsterdam |
Proportion of ownership interest in subsidiary | 50% |