Cover Page
Cover Page | 6 Months Ended |
Jun. 30, 2023 | |
Document Information [Line Items] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2023 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | Q2 |
Current Fiscal Year End Date | --12-31 |
Entity Registrant Name | Anheuser-Busch InBev SA/NV |
Entity Central Index Key | 0001668717 |
Consolidated Income Statement
Consolidated Income Statement - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | [1] | |
Profit or loss [abstract] | |||
Revenue | $ 29,333 | $ 28,027 | |
Cost of sales | (13,536) | (12,784) | |
Gross profit | 15,796 | 15,243 | |
Distribution expenses | (3,183) | (3,076) | |
Sales and marketing expenses | (3,518) | (3,304) | |
Administrative expenses | (2,350) | (2,237) | |
Other operating income/(expenses) | 327 | 478 | |
Exceptional costs above profit from operations | (107) | (105) | |
Profit from operations | 6,965 | 7,000 | |
Finance cost | (3,608) | (2,962) | |
Finance income | 385 | 694 | |
Net finance income/(cost) | (3,223) | (2,268) | |
Share of result of associates | 105 | 129 | |
Exceptional share of results of associates | (1,143) | ||
Profit before tax | 3,847 | 3,718 | |
Income tax expense | (1,192) | (1,244) | |
Profit of the period | 2,655 | 2,474 | [2] |
Profit of the period attributable to: | |||
Equity holders of AB InBev | 1,977 | 1,692 | [3] |
Non-controlling interest | $ 678 | $ 782 | |
Basic earnings per share | $ 0.98 | $ 0.84 | |
Diluted earnings per share | $ 0.96 | $ 0.83 | |
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation.[2]The 2022 presentation was amended to conform to the 2023 presentation.[3]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation. |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income/(loss) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Statement of comprehensive income [abstract] | |||
Profit of the period | $ 2,655 | $ 2,474 | [1],[2] |
Other comprehensive income/(loss): items that will not be reclassified to profit or loss: | |||
Re-measurements of post-employment benefits | 3 | 1 | |
Other comprehensive income/(loss) that will not be reclassified to profit or loss, net of tax | 3 | 1 | |
Other comprehensive income/(loss): items that may be reclassified subsequently to profit or loss: | |||
Exchange differences on translation of foreign operations | 3,574 | 2,412 | |
Effective portion of changes in fair value of net investment hedges | (95) | (417) | |
Cash flow hedges recognized in equity | (497) | 189 | |
Cash flow hedges reclassified from equity to profit or loss | (103) | (451) | |
Other comprehensive income/(loss) that will be reclassified to profit or loss net of tax | 2,879 | 1,733 | |
Other comprehensive income/(loss), net of tax | 2,882 | 1,734 | |
Total comprehensive income/(loss) | 5,538 | 4,208 | |
Attributable to: | |||
Equity holders of AB InBev | 5,049 | 3,584 | |
Non-controlling interest | $ 488 | $ 624 | |
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation.[2]The 2022 presentation was amended to conform to the 2023 presentation. |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Non-current assets | ||
Property, plant and equipment | $ 27,181 | $ 26,671 |
Goodwill | 116,168 | 113,010 |
Intangible assets | 40,973 | 40,209 |
Investments in associates | 4,728 | 4,656 |
Investment securities | 179 | 175 |
Deferred tax assets | 2,836 | 2,300 |
Employee benefits | 11 | 11 |
Income tax receivables | 835 | 883 |
Derivatives | 62 | 60 |
Trade and other receivables | 1,895 | 1,782 |
Total non-current assets | 194,868 | 189,757 |
Current assets | ||
Investment securities | 85 | 97 |
Inventories | 6,839 | 6,612 |
Income tax receivables | 912 | 813 |
Derivatives | 157 | 331 |
Trade and other receivables | 6,609 | 5,330 |
Cash and cash equivalents | 6,848 | 9,973 |
Assets classified as held for sale | 35 | 30 |
Total current assets | 21,483 | 23,186 |
Total assets | 216,352 | 212,943 |
Equity | ||
Issued capital | 1,736 | 1,736 |
Share premium | 17,620 | 17,620 |
Reserves | 18,835 | 15,218 |
Retained earnings | 39,269 | 38,823 |
Equity attributable to equity holders of AB InBev | 77,460 | 73,398 |
Non-controlling interests | 11,324 | 10,880 |
Total equity | 88,783 | 84,278 |
Non-current liabilities | ||
Interest-bearing loans and borrowings | 78,323 | 78,880 |
Employee benefits | 1,521 | 1,534 |
Deferred tax liabilities | 12,003 | 11,818 |
Income tax payables | 595 | 610 |
Derivatives | 113 | 184 |
Trade and other payables | 872 | 859 |
Provisions | 370 | 396 |
Total non-current liabilities | 93,796 | 94,282 |
Current liabilities | ||
Bank overdrafts | 53 | 83 |
Interest-bearing loans and borrowings | 2,524 | 1,029 |
Income tax payables | 1,263 | 1,438 |
Derivatives | 6,340 | 5,308 |
Trade and other payables | 23,347 | 26,349 |
Provisions | 244 | 176 |
Total current liabilities | 33,773 | 34,383 |
Total equity and liabilities | $ 216,352 | $ 212,943 |
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, 2021 | $ 79,340 | $ 1,736 | $ 17,620 | $ (3,994) | $ 54,001 | $ (34,577) | $ 33,882 | $ 68,669 | $ 10,671 | |
Profit of the period | 2,474 | [1],[2] | 1,692 | 1,692 | 782 | |||||
Other comprehensive income/(loss) | 1,734 | 1,892 | 1,892 | (158) | ||||||
Total comprehensive income/(loss) | 4,208 | 1,892 | 1,691 | 3,584 | 624 | |||||
Dividends | (1,409) | (1,190) | (1,190) | (219) | ||||||
Treasury shares | 72 | 184 | (112) | 72 | ||||||
Share-based payments | 259 | 254 | 254 | 5 | ||||||
Hyperinflation monetary adjustments | 332 | 205 | 205 | 127 | ||||||
Scope and other changes | (51) | (42) | (42) | (9) | ||||||
Ending balance at Jun. 30, 2022 | 82,750 | 1,736 | 17,620 | (3,810) | 54,254 | (32,685) | 34,435 | 71,550 | 11,200 | |
Beginning balance at Dec. 31, 2022 | 84,278 | 1,736 | 17,620 | (3,706) | 54,477 | (35,553) | 38,823 | 73,398 | 10,880 | |
Profit of the period | 2,655 | 1,977 | 1,977 | 678 | ||||||
Other comprehensive income/(loss) | 2,882 | 3,072 | 3,072 | (189) | ||||||
Total comprehensive income/(loss) | 5,538 | 3,072 | 1,977 | 5,049 | 488 | |||||
Dividends | (1,855) | (1,581) | (1,581) | (273) | ||||||
Treasury shares | 82 | 312 | (230) | 82 | ||||||
Share-based payments | 244 | 232 | 232 | 12 | ||||||
Hyperinflation monetary adjustments | 525 | 324 | 324 | 201 | ||||||
Scope and other changes | (29) | (44) | (44) | 15 | ||||||
Ending balance at Jun. 30, 2023 | $ 88,783 | $ 1,736 | $ 17,620 | $ (3,393) | $ 54,709 | $ (32,481) | $ 39,269 | $ 77,460 | $ 11,324 | |
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation.[2]The 2022 presentation was amended to conform to the 2023 presentation. |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | [2] | |
OPERATING ACTIVITIES | |||
Profit of the period | $ 2,655 | $ 2,474 | [1] |
Depreciation, amortization and impairment | 2,595 | 2,477 | |
Net finance cost/(income) | 3,223 | 2,268 | |
Equity-settled share-based payment expense | 286 | 237 | |
Income tax expense | 1,192 | 1,244 | |
Other non-cash items | 321 | (225) | |
Share of result of associates | (105) | 1,014 | |
Cash flow from operating activities before changes in working capital and use of provisions | 10,167 | 9,489 | |
Decrease/(increase) in trade and other receivables | (1,325) | (581) | |
Decrease/(increase) in inventories | (228) | (833) | |
Increase/(decrease) in trade and other payables | (3,062) | (1,925) | |
Pension contributions and use of provisions | (192) | (195) | |
Cash generated from operations | 5,360 | 5,955 | |
Interest paid | (2,322) | (2,082) | |
Interest received | 512 | 177 | |
Dividends received | 43 | 50 | |
Income tax paid | (1,996) | (1,918) | |
Cash flow from/(used in) operating activities | 1,597 | 2,182 | |
INVESTING ACTIVITIES | |||
Acquisition of property, plant and equipment and of intangible assets | (2,107) | (2,002) | |
Proceeds from sale of property, plant and equipment and of intangible assets | 44 | 63 | |
Sale/(acquisition) of subsidiaries, net of cash disposed/ acquired of | (8) | (44) | |
Proceeds from sale/(acquisition) of other assets | 10 | 66 | |
Cash flow from/(used in) investing activities | (2,061) | (1,917) | |
FINANCING ACTIVITIES | |||
Sale/(purchase) of non-controlling interests | (3) | (52) | |
Proceeds from borrowings | 181 | 68 | |
Payments on borrowings | (26) | (3,520) | |
Cash net finance (cost)/income other than interests | (693) | (326) | |
Payment of lease liabilities | (359) | (286) | |
Dividends paid | (1,923) | (1,276) | |
Cash flow from/(used in) financing activities | (2,823) | (5,392) | |
Net increase/(decrease) in cash and cash equivalents | (3,287) | (5,128) | |
Cash and cash equivalents less bank overdrafts at beginning of year | 9,890 | 12,043 | |
Effect of exchange rate fluctuations | 191 | (18) | |
Cash and cash equivalents less bank overdrafts at end of period | $ 6,794 | $ 6,897 | |
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation.[2]The 2022 presentation was amended to conform to the 2023 presentation. |
Corporate information
Corporate information | 6 Months Ended |
Jun. 30, 2023 | |
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 ingredients. Our diverse portfolio of well over 500 beer brands includes global brands Budweiser®, Corona® and Stella Artois®; multi-country brands Beck’s®, Hoegaarden®, Leffe® and Michelob Ultra®; and local champions such as Aguila®, Antarctica®, Bud Light®, Brahma®, Cass®, Castle®, Castle Lite®, Cristal®, Harbin®, Jupiler®, Modelo Especial®, Quilmes®, Victoria®, Sedrin® and Skol®. Our brewing heritage dates back more 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 unaudited condensed consolidated interim financial statements of the company for the six-month six-month The consolidated financial statements were authorized for issue by the Board of Directors on 2 August 2023. |
Statement of compliance
Statement of compliance | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Statement of compliance | 2. Statement of compliance The unaudited condensed consolidated interim financial statements have been prepared in accordance with International Financial Reporting Standard (IFRS) IAS 34 Interim Financial Reporting |
Summary of significant accounti
Summary of significant accounting policies | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Summary of significant accounting policies | 3. Summary of s The accounting policies applied are consistent with those applied in the annual consolidated financial statements as at and for the year ended 31 December 2022. (A) 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 2023 and have not been listed in these unaudited condensed consolidated financial statements as they either do not apply or are immaterial to AB InBev’s consolidated financial statements. (B) FOREIGN CURRENCIES The most important exchange rates that have been used in preparing the financial statements are: Closing rate Average rate 1 US dollar equals: 30 June 2023 31 December 2022 30 June 2023 30 June 2022 Argentinean peso 256.709065 177.131872 - - Brazilian real 4.819192 5.217705 5.117130 5.049046 Canadian dollar 1.326614 1.353834 1.357985 1.268356 Colombian peso 4 183.19 4 807.99 4 638.30 3 920.73 Chinese yuan 7.268793 6.898736 6.927067 6.458363 Euro 0.920302 0.937559 0.927659 0.913529 Mexican peso 17.072031 19.361452 18.297743 20.324130 Pound sterling 0.789876 0.831548 0.812848 0.768921 Peruvian nuevo sol 3.636005 3.820004 3.773824 3.800274 South Korean won 1 322.27 1 260.16 1 301.06 1 221.30 South African rand 18.938593 16.968472 18.099957 15.476459 The company applies hyperinflation accounting for its Argentinean subsidiaries. The 2023 results, restated for purchasing power, were translated at the June 2023 closing rate of 256.709065 Argentinean pesos per US dollar (2022 results – at the June 2022 closing rate of 125.210300 Argentinean pesos per US dollar). |
Use of estimates and judgments
Use of estimates and judgments | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Use of estimates and judgments | 4. Use of estimates and judgments As from 1 January 2023, mark-to-market exceptional The other significant judgments made by management in applying the company’s accounting policies and the key sources of uncertainty are consistent with those applied in the annual consolidated financial statements as at and for the year ended 31 December 2022. |
Segment reporting
Segment reporting | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
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 the company’s 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. All figures in the table below are stated in million US dollar, except volume (million hls). The information presented is for the six-month (non-current) North America Middle Americas South America EMEA Asia Pacific Global Export and AB InBev Worldwide 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 Volume 47 51 72 72 76 77 43 43 50 45 - - 288 289 Revenue 7 926 8 192 7 573 6 693 5 849 5 333 4 070 3 940 3 679 3 471 236 399 29 333 28 027 Profit from operations 2 131 2 570 2 781 2 416 1 241 1 234 618 667 944 879 (749) (766) 6 965 7 000 Net finance income/(cost) (3 223) (2 268) Share of results of associates 105 129 Exceptional share of results of associates - (1 143) Income tax expense (1 192) (1 244) Profit 2 655 2 474 Segment assets (non-current) 63 278 63 379 72 260 66 262 15 598 14 297 29 103 30 918 11 800 12 397 2 828 2 505 194 868 189 757 Gross capex 216 222 561 537 402 414 393 329 246 214 288 288 2 107 2 002 For the six-month non-beer |
Acquisitions and disposals of s
Acquisitions and disposals of subsidiaries | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Acquisitions and disposals of subsidiaries | 6. Acquisi ti The company undertook a series of acquisitions and disposals and/or settled payments related to prior year acquisitions during the six-month |
Exceptional items
Exceptional items | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Exceptional items | 7. Exceptional items IAS 1 Presentation of financial statements The exceptional items included in the income statement are as follows: For the six-month Million US dollar 2023 2022¹ COVID-19 - (13) Restructuring (50) (51) Business and asset disposal (including impairment losses) (38) 6 Legal costs (19) - AB InBev Efes related costs - (47) Impact on profit from operations (107) (105) Exceptional net finance income/(cost) (703) 176 Exceptional share of results of associates - (1 143) Exceptional taxes 51 69 Exceptional non-controlling 9 (3) Net impact on profit (750) (1 006) The exceptional restructuring charges for the six-month one-time Business and asset disposals (including impairment losses) amount to (38)m US dollar for the six-month non-core The company recorded exceptional legal costs of (19)m US dollar for the six-month period ended 30 June 2023 related to the successful outcome of a series of lawsuits regarding Ambev warrants (see also Note 21 Contingencies ). During the six-month period ended 30 June 2022, the company recorded )m US dollar costs related to the discontinuation of exports to Russia and the forfeiting of company benefits from the operations of the associate AB InBev Efes. The company incurred a n six-month Finance cost and income During the six-month Investments in associates All the amounts referenced above are before income taxes. The exceptional income taxes amounted to 51m US dollar (decrease of income taxes) for the six-month Non-controlling six-month ended 1 |
Finance cost and income
Finance cost and income | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Finance cost and income | 8. Finance cost and income The finance cost and income included in the income statement are as follows: 2023 2022¹ Million US dollar Finance cost Finance income Net Finance cost Finance income Net Interest income/(expense) (1 855) 225 (1 630 ) (1 767) 84 (1 683 ) Net interest on net defined benefit liabilities (42) - (42 ) (37) - (37 ) Accretion expense (385) - (385 ) (336) - (336 ) Net interest income on Brazilian tax credits - 78 78 - 113 113 Other financial results (622) 82 (540 ) (696) 194 (501 ) Finance income/(cost) excluding exceptional items (2 905) 385 (2 520 ) (2 835) 391 (2 444 ) Exceptional finance income/(cost) (703) - (703 ) (127) 303 176 Finance income/(cost) (3 608) 385 (3 223 ) (2 962) 694 (2 268 ) Net finance costs, excluding exceptional items, were 2 520m US dollar in the six-month six-month In the six-month Interest expense is presented net of the effect of interest rate derivative instruments hedging AB InBev’s interest rate risk – see also Note 19 Risks arising from financial instruments Other financial results for the six-month 2023 2022¹ Million US dollar Finance cost Finance income Net Finance cost Finance income Net Net foreign exchange gains/(losses) (149) - (149 ) (143) - (143 ) Net gains/(losses) on hedging instruments (354) - (354 ) (422) - (422 ) Hyperinflation monetary adjustments - 66 66 - 138 138 Other financial income/(cost), including bank fees and taxes (119) 16 (103 ) (131) 56 (75 ) Other financial results (622) 82 (540 ) (696) 194 (501 ) Exceptional finance income/(cost) for the six-month • (703)m US dollar loss resulting from mark-to-market • In the six-month No interest income was recognized on impaired financial assets. 1 |
Income taxes
Income taxes | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Income taxes | 9. Income taxes Income taxes recognized in the income statement can be detailed as follows: For the six-month Million US dollar 2023 2022 Current tax expense (1 554 ) (1 704) Deferred tax (expense)/income 362 459 Total income tax expense in the income statement (1 192 ) (1 244) The reconciliation of the effective tax rate with the aggr riz For the six-month Million US dollar 2023 2022 Profit/(loss) before tax 3 847 3 718 Deduct share of results of associates 105 129 Deduct exceptional share of results of associates - (1 143) Profit before tax and before share of results of associates 3 741 4 732 Adjustments to the tax basis Government incentives (346) (304) Non-deductible/(non-taxable) mark-to-market 703 (296) Other expenses not deductible for tax purposes 775 962 Other non-taxable (291) (346) Adjusted tax basis 4 582 4 748 Aggregate weighted nominal tax rate 26.9 26.9% Tax at aggregated nominal tax rate (1 235) (1 277) Adjustments on tax expense Recognition/(de-recognition) (98) (8) (Underprovided)/overprovided in prior years (56) 24 Deductions from interest on equity 323 268 Deductions from goodwill and other tax deductions 168 5 Change in tax rate - 5 Withholding taxes (205) (181) Other tax adjustments (90) (81) Total tax expense (1 192) (1 244) Effective tax rate 31.9% 26.3% The total income tax expense for the six-month ended for six-month six-month six-month The 2023 effective tax rate was negatively impacted by non-deductible non-taxable 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. |
Property, plant and equipment
Property, plant and equipment | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Property, plant and equipment | 10. Property, plant and equipment Property, plant and equipment comprises owned and leased assets, as follows: Million US dollar 30 June 2023 31 December 2022 Property, plant and equipment owned 24 553 24 245 Property, plant and equipment leased (right-of-use 2 627 2 426 Total property, plant and equipment 27 181 26 671 30 June 2023 31 December 2022 Million US dollar Land and buildings Plant and equipment, fixtures and fittings Under construction Total Total Acquisition cost Balance at end of previous year 12 591 37 473 2 205 52 269 50 742 Effect of movements in foreign exchange 211 671 52 934 (983) Acquisitions 3 728 1 017 1 748 4 279 Disposals through sale and derecognition (24) (507) - (532) (1 822) Disposals through the sale of subsidiaries - - - - (13) Transfer (to)/from other asset categories and other movements¹ 172 1 125 (1 130) 167 66 Balance at end of the period 12 953 39 491 2 143 54 587 52 269 Depreciation and impairment losses Balance at end of previous year (4 584) (23 440) - (28 024) (26 284) Effect of movements in foreign exchange (55) (426) - (482) 507 Depreciation (197) (1 578) - (1 775) (3 530) Disposals through sale and derecognition 18 476 - 494 1 631 Disposals through the sale of subsidiaries - - - - 8 Impairment losses (3) (57) - (60) (172) Transfer to/(from) other asset categories and other movements¹ (6) (180) - (186) (186) Balance at end of the period (4 827) (25 206) - (30 033) (28 024) Carrying amount at 31 December 2022 8 007 14 033 2 205 24 245 24 245 at 30 June 2023 8 126 14 285 2 143 24 553 - As at 30 June 2023 and 31 December 2022 there were no significant restrictions on title on property, plant and equipment. Contractual commitments to purchase property, plant and equipment amounted to 1 030m US dollar as at 30 June 2023 compared to 538m US dollar as at 31 December 2022. AB InBev’s net capital expenditures in the statement of cash flow amounted to 2 063m US dollar in 2023 compared to 1 939m US dollar for the same period last year. Out of the total 2023 capital expenditures approximately 33% was used to improve the company’s production facilities while 49% was used for logistics and commercial investments and 18% for improving administrative capabilities and for the purchase of 1 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 30 June 2023 Million US dollar Land and buildings Machinery, equipment and other Total Net carrying amount at June 30 1 713 914 2 627 Depreciation for the period ended June 30 (223 ) (148) (371) 31 December 2022 Million US dollar Land and buildings Machinery, Total Net carrying amount at 31 December 1 640 786 2 426 Depreciation for the year ended 31 December (398 ) (230) (628) Additions to right-of-use six-month Following the sale of Dutch and Belgian pub real estate to Cofinimmo in October 2007, AB InBev entered into lease agreements with a term of 27 years. Furthermore, the company leases a number of warehouses, trucks, factory facilities and other commercial buildings, which typically run for a period of five The company leases out pub real estate for an average outstanding period of 6 The expense related to short-term and low-value |
Goodwill
Goodwill | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Goodwill | 11. Goodwill Million US dollar 30 June 2023 31 December 2022 Acquisition cost Balance at end of previous year 115 541 118 461 Effect of movements in foreign exchange 2 664 (3 147) Disposals through the sale of subsidiaries - (32) Transfers (to)/from other asset categories (17) (68) Hyperinflation monetary adjustments 246 328 Balance at end of the period 118 434 115 541 Impairment losses Balance at end of previous year (2 531) (2 665) Effect of movements in foreign exchange 265 134 Balance at end of the period (2 266) (2 531) Carrying amount Balance at end of the period 116 168 113 010 AB InBev completes a goodwill impairment testing annually, or whenever a triggering event has occurred. The carrying amount of goodwill was allocated to the different cash-generating units as follows: Million US dollar 30 June 2023 31 December 2022 United States 33 562 33 578 Rest of North America 2 022 1 981 Mexico 14 543 12 823 Colombia 14 588 12 692 Rest of Middle Americas 23 904 23 242 Brazil 3 798 3 508 Rest of South America 1 294 1 249 Europe 2 141 2 081 South Africa 8 558 9 551 Rest of Africa 4 899 5 131 China 2 960 3 119 Rest of Asia Pacific 3 341 3 505 Global Export and Holding Companies 559 549 Total carrying amount of goodwill 116 168 113 010 |
Intangible assets
Intangible assets | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Intangible assets | 12. Intangible assets 30 June 2023 31 December 2022 Million US dollar Brands Commercial Software Other Total Total Acquisition cost Balance at end of previous year 37 741 2 026 4 050 354 44 170 45 015 Effect of movements in foreign exchange 461 60 149 (3) 667 (751) Acquisitions and expenditures 6 166 301 9 482 978 Disposals through sale and derecognition (1) - (33) (6) (40) (1 437) Transfer (to)/from other asset categories and other movements¹ 23 7 338 (223) 145 365 Balance at end of period 38 229 2 259 4 805 131 45 424 44 170 Amortization and impairment losses Balance at end of previous year (88) (1 247) (2 577) (49) (3 961) (4 585) Effect of movements in foreign exchange - (47) (100) (3) (150) 100 Amortization - (65) (262) (13) (340) (647) Impairment - - (1) - (1) (4) Disposals through sale and derecognition - - 33 1 34 1 339 Transfer to/(from) other asset categories and other movements¹ - (8) (15) (9) (32) (164) Balance at end of period (88) (1 367) (2 923) (73) (4 451) (3 961) Carrying value at 31 December 2022 37 652 779 1 473 305 40 209 40 209 at 30 June 2023 38 141 892 1 882 58 40 973 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 once a year or whenever a triggering event has occurred. 1 Non-current assets held for sale and discontinued operations Financial reporting in hyperinflationary economies |
Investments in associates
Investments in associates | 6 Months Ended |
Jun. 30, 2023 | |
Investments accounted for using equity method [abstract] | |
Investments in associates | 13. 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: 2023 2022 Million US dollar Castel Anadolu Efes AB InBev Castel Anadolu Balance at 1 January 3 293 171 1 143 3 400 201 Effect of movements in foreign exchange 52 (48) - (245) (39) Dividends received - (12) - - (16) Share of results of associates 67 4 - 82 (5) Exceptional share of results of associates - - (1 143) - - Balance at 30 June 3 412 115 - 3 237 141 During the six-month Exceptional items) non-current In the six-month |
Trade and other receivables
Trade and other receivables | 6 Months Ended |
Jun. 30, 2023 | |
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Trade and other receivables | 14. Trade and other receivables Million US dollar 30 June 2023 31 December 2022 Cash deposits for guarantees 169 189 Loans to customers 7 10 Tax receivable, other than income tax 170 137 Brazilian tax credits and interest receivables 1 247 1 149 Trade and other receivables 302 298 Non-current 1 895 1 782 Trade receivables and accrued income 4 579 3 637 Interest receivables 83 67 Tax receivable, other than income tax 538 444 Loans to customers 93 71 Prepaid expenses 517 410 Other receivables 798 702 Current trade and other receivables 6 609 5 330 Ambev’s tax credits and interest receivables are expected to be collected over a period exceeding 12 months after the reporting date. As of 30 June 2023, the total amount of such credits and interest receivables represented 1 247m US dollar (31 December 2022: 1 149m US dollar). 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 Of which: Of which not impaired as of the reporting date and past due Net carrying impaired nor Less than 30 Between 30 Between 60 More than Trade receivables and accrued income 4 579 4 375 137 31 29 7 Loans to customers 100 84 15 1 - - Interest receivable 83 83 - - - - Other receivables 798 768 8 11 11 1 5 561 5 310 160 43 40 8 Net carrying Of which: Of which not impaired as of the reporting date and past due amount as impaired nor Less than 30 Between 30 Between 60 More than 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 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 six-month AB InBev’s exposure to credit, currency and interest rate risks is disclosed in Note 19 Risks arising from financial instruments |
Cash and cash equivalents and i
Cash and cash equivalents and investment securities | 6 Months Ended |
Jun. 30, 2023 | |
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Cash and cash equivalents and investment securities | 15. Cash and cash equivalents and investment securities Million US dollar 30 June 2023 31 December 2022 Short-term bank deposits 2 145 4 685 Cash and bank accounts 4 702 5 288 Cash and cash equivalents 6 848 9 973 Bank overdrafts (53 ) (83 ) Cash and cash equivalents in the statement of cash flows 6 794 9 890 The cash outstanding as at 30 June 2023 includes restricted cash for an amount of 74m US dollar (31 December 2022: 73m US dollar). This restricted cash mainly relates to amounts deposited on a blocked account in respect to the state aid investigation into the Belgian excess profit ruling system (73m US dollar). Investment securities Million US dollar 30 June 2023 31 December 2022 Investment in unquoted companies 150 149 Investment on debt securities 29 26 Non-current 179 175 Investment on debt securities 85 97 Current investments 85 97 As at 30 June 2023, current debt securities of 85m US dollar mainly represented investments in government bonds (31 December 2022: 97m 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 | 6 Months Ended |
Jun. 30, 2023 | |
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Changes in equity and earnings per share | 16. Changes in equity and earnings per share STATEMENT OF CAPITAL The tables below summarize the changes in issued capital and treasury shares during the six-month 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 35.5 (3 706 ) (4 559 ) Changes during the period (3.0 ) 312 (230 ) At the end of the current period 32.5 (3 393 ) (4 789 ) As of 30 June 2023, 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 32 467 809 are held in treasury by AB InBev and its subsidiaries. All shares are 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 CHANGES IN OWNERSHIP INTERESTS In accordance with IFRS 10 Consolidated Financial Statements In the six-month non-controlling BORROWED SHARES In order to fulfill AB InBev’s commitments under various outstanding share-based compensation plans, during the course of 2023, the company had stock lending arrangements in place for up to 30 million shares, which were fully used to fulfill share-based compensation plan commitments. The company shall pay any dividend equivalent after tax in respect of such borrowed shares. This payment will be reported through equity as dividend. DIVIDENDS On 26 April 2023, a dividend of 0.75 euro per share or 1 510m On 27 April 2022, a dividend of 0.50 euro per share or 1 004m 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 The amount of dividends payable to AB InBev by its operating subsidiaries is subject to, among other restrictions, general limitations imposed by the corporate laws, capital transfer restrictions and exchange control restrictions of the respective jurisdictions where those subsidiaries are organized and operate. Capital transfer restrictions are also common in certain emerging market countries and may affect AB InBev’s flexibility in implementing a capital structure it believes to be efficient. As of 30 June 2023, 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 2023 (34 677) 145 (1 021) (35 553) Other comprehensive income/(loss) Exchange differences on translation of foreign operations (gains/(losses)) 3 610 - - 3 610 Cash flow hedges - (541) - (541) Re-measurements - - 3 3 Other comprehensive income/(loss) 3 610 (541) 3 3 072 As per 30 June 2023 (31 067) (396) (1 018) (32 481) The decrease in translation reserves is primarily related to the combined effect of the appreciation of the closing rates of the Colombian peso, the Euro, the Mexican peso, the Peruvian sol and the weakening of the closing rate of the South African rand, which resulted in a net foreign exchange translation adjustment of 3 610m US dollar as of 30 June 2023 (increase of equity). 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)) 2 101 - - 2 101 Cash flow hedges - (210) - (210) Re-measurements - - - - Other comprehensive income/(loss) 2 101 (210) - 1 892 As per 30 June 2022 (31 453) 271 (1 504) (32 685) EARNINGS PER SHARE The calculation of basic earnings per share for the six-month Million shares 2023 2022 Issued ordinary and restricted shares at 1 January, net of treasury shares 1 984 1 981 Effect of stock lending 30 30 Effect of delivery of treasury shares 2 1 Weighted average number of ordinary and restricted shares at 30 June 2 016 2 012 The calculation of diluted earnings per share for the six-month Million shares 2023 2022 Weighted average number of ordinary and restricted shares at 30 June 2 016 2 012 Effect of share options, warrants and restricted stock units 38 35 Weighted average number of ordinary and restricted shares (diluted) at 30 June 2 054 2 047 The calculation of the Underlying EPS is based on the profit before exceptional items and hyperinflation impacts attributable to equity holders of AB InBev. A reconciliation of the profit attributable to equity holders of AB InBev to the profit before exceptional items, attributable to equity holders of AB InBev and underlying profit is calculated as follows: For the six-month Million US dollar 2023 2022¹ Profit attributable to equity holders of AB InBev 1 977 1 692 Net impact of exceptional items on profit (refer to Note 7) 750 1 006 Profit before exceptional items, attributable to equity holders of AB InBev 2 727 2 698 Hyperinflation impacts 35 (26) Underlying profit 2 762 2 672 1 The table below sets out the EPS calculation: For the six-month Million US dollar 2023 2022 Profit attributable to equity holders of AB InBev 1 977 1 692 Weighted average number of ordinary and restricted shares 2 016 2 012 Basic EPS 0.98 0.84 Underlying profit 2 762 2 672 Weighted average number of ordinary and restricted shares 2 016 2 012 Underlying EPS 1.37 1.33 Profit attributable to equity holders of AB InBev 1 977 1 692 Weighted average number of ordinary and restricted shares (diluted) 2 054 2 047 Diluted EPS 0.96 0.83 Underlying EPS is a non-IFRS 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, 50m share options were anti-dilutive and not included in the calculation of the dilutive effect as of 30 June 2023 (30 June 2022: 56m share options). |
Interest-bearing loans and borr
Interest-bearing loans and borrowings | 6 Months Ended |
Jun. 30, 2023 | |
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Interest-bearing loans and borrowings | 17. 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 19 Risks arising from financial instruments. Million US dollar 30 June 2023 31 December 2022 Unsecured bond issues 76 160 76 798 Lease liabilities 2 034 1 963 Unsecured other loans 105 95 Secured bank loans 23 24 Non-current 78 323 78 880 Unsecured bond issues 1 184 - Lease liabilities 665 529 Secured bank loans 463 369 Unsecured bank loans 181 100 Unsecured other loans 31 30 Current interest-bearing loans and borrowings 2 524 1 029 Interest-bearing loans and borrowings 80 847 79 909 The current and non-current As of 30 June 2023, the company had no outstanding balance on commercial papers (31 December 2022: 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. Net debt is defined as non-current AB InBev’s net debt increased to 73.8 billion US dollar as of 30 June 2023, from 69.7 billion US dollar as of 31 December 2022. Aside from operating results that are net of capital expenditures, the net debt is impacted mainly by the payment of interests and taxes (3.8 billion US dollar), dividend payments (1.9 billion US dollar) and foreign exchange impact on net debt (0.4 The following table provides a reconciliation of AB InBev’s net debt as at the dates indicated: Million US dollar 30 June 2023 31 December 2022 Non-current 78 323 78 880 Current interest-bearing loans and borrowings 2 524 1 029 Interest-bearing loans and borrowings 80 847 79 909 Bank overdrafts 53 83 Cash and cash equivalents (6 848) (9 973) Interest bearing loans granted and other deposits (included within Trade and other receivables) (184) (183) Debt securities (included within Investment securities) (114) (123) Net debt 73 755 69 713 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 term debt Balance at 1 January 2023 78 880 1 029 Proceeds from borrowings 7 174 Payments on borrowings - (26) Capitalization / (payment) of lease liabilities 446 (323) Amortized cost 30 - Unrealized foreign exchange effects 569 40 Current portion of long-term debt (1 627) 1 627 (Gain)/Loss on bond redemption and other movements 17 4 Balance at 30 June 2023 78 323 2 524 Million US dollar Long-term debt, net of current portion Short-term debt and current portion of long- term debt Balance at 1 January 2022 87 369 1 408 Proceeds from borrowings 41 27 Payments on borrowings (3 218) (302) Capitalization / (payment) of lease liabilities 356 (247) Amortized cost 31 - Unrealized foreign exchange effects (2 259) (13) Current portion of long-term debt (302) 302 (Gain)/Loss on bond redemption and other movements 99 10 Balance at 30 June 2022 82 117 1 185 |
Share-based payments
Share-based payments | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Share-based payments | 18. 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 (“RSU”) plan for directors (“RSU Plan for Directors”), and the various long-term incentive plans for executives (“LTI Plan Executives”). Except for the ones mentioned below, there were no other grants in the six-month Share-based payment transactions resulted in a total expense of 286m US dollar for 2023, as compared to 237m US dollar for the six-month AB INBEV SHARE-BASED COMPENSATION PROGRAMS Share-Based Compensation Plan for Executives In the six-month RSU Plan for Directors In the six-month Annual LTI Plans for Executives In the six-month Other Recurring LTI RSU Plans for Executives In the six-month 9 In the six-month AMBEV SHARE-BASED COMPENSATION PROGRAMS Under the 2018 Share-based compensation plan, Ambev issued 6.8m matching RSUs in the six-month BUDWEISER APAC SHARE-BASED COMPENSATION PROGRAM Share-Based Compensation Plan In the six-month People Bet Plan In the six-month 0.5 stock |
Risks arising from financial in
Risks arising from financial instruments | 6 Months Ended |
Jun. 30, 2023 | |
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Risks arising from financial instruments | 19. Risks arising from financial instruments A) 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: 30 June 2023 31 December 2022 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 6 848 - - 6 848 9 973 - - 9 973 Trade and other receivables 6 032 - - 6 032 4 973 - - 4 973 Investment securities 29 85 150 264 25 97 149 272 Interest rate swaps - 4 - 4 - - - - Cross currency interest rate swaps - - 46 46 - - 63 63 Foreign exchange forwards - 10 112 122 - 41 182 223 Foreign currency futures - - 3 3 - - 4 4 Commodities - - 45 45 - - 101 101 Financial assets 12 908 98 356 13 362 14 971 139 498 15 608 Non-current 507 - 212 720 522 15 193 730 Current 12 401 98 143 12 642 14 450 124 305 14 878 Trade and other payables 19 754 773 - 20 527 21 983 762 - 22 746 Non-current 77 117 1 205 - 78 323 78 880 - - 78 880 Current interest-bearing loans and borrowings 2 524 - - 2 524 1 029 - - 1 029 Bank overdrafts 53 - - 53 83 - - 83 Equity swaps - 5 345 - 5 345 - 4 763 - 4 763 Cross currency interest rate swaps - - 150 150 - 16 171 187 Foreign exchange forwards - 8 591 599 - 20 245 265 Foreign currency futures - - 3 3 - - - - Commodities - - 353 353 - - 271 271 Interest rate swaps - 3 - 3 - 3 2 5 Financial liabilities 99 448 7 334 1 098 107 880 101 975 5 565 689 108 229 Non-current 77 504 1 592 113 79 209 79 108 473 168 79 749 Current 21 944 5 741 985 28 671 22 867 5 092 521 28 480 B) INTEREST RATE RISK 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. 30 June 2023 Before hedging After hedging Interest-bearing financial liabilities Effective Amount Effective Amount Million US dollar interest rate interest rate Floating rate Canadian dollar - - 4.73% 954 Euro 3.48% 1 068 3.48% 1 068 US dollar 5.67% 518 - - Brazilian real 9.58% 26 11.59% 826 Other 13.64% 273 13.25% 672 1 885 3 520 Fixed rate Canadian dollar 4.51% 623 4.37% 3 736 Chinese yuan 2.57% 48 2.54% 1 428 Euro 2.27% 20 815 2.30% 21 699 Pound sterling 5.13% 2 322 5.55% 1 689 South Korean won 5.38% 53 1.26% 2 213 US dollar 4.99% 53 511 5.23% 45 269 Other 9.29% 1 643 10.43% 1 346 79 015 77 380 31 December 2022 Before hedging After hedging Interest-bearing financial liabilities Effective Amount Effective Amount Million US dollar interest rate interest rate 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 As at 30 June 2023, the total carrying amount of the floating and fixed rate interest-bearing financial liabilities before hedging as listed above includes bank overdrafts of 53m US dollar (31 December 2022: 83m US dollar). As disclosed in the above table, 3 520m US dollar or 4.4% of the company’s interest-bearing financial liabilities bears interest at a variable rate. Interest rate sensitivity analysis 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 to date. 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 pre-tax C) 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 18 Share-based Payments. Finance cost and income As at 30 June 2023, an exposure for an equivalent of 100.5m of AB InBev shares was hedged, resulting in a total loss of (703)m US dollar recognized in the profit or loss account for the period in exceptional finance income/(cost). As at 30 June 2023, liabilities for equity swap derivatives amounted to 5.3 billion US dollar (31 December 2022: 4.8 billion US dollar). Equity price sensitivity analysis The sensitivity analysis on the equity swap derivatives, calculated based on a 20.26% (2022: 27.53%) reasonably possible volatility of the AB InBev share price, with all the other variables held constant, would show 1 158m US dollar positive/negative impact on the 2023 profit before tax (31 December 2022: 1 660m US dollar). D) 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 30 June 2023 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: 30 June 2023 31 December 2022 Million US dollar Gross Impairment Net carrying Gross Impairment Net carrying Cash and cash equivalents 6 848 - 6 848 9 973 - 9 973 Trade receivables 4 964 (385) 4 579 3 980 (343 ) 3 637 Other receivables 1 775 (75) 1 701 1 545 (68 ) 1 477 Derivatives 219 - 219 391 - 391 Cash deposits for guarantees 169 - 169 189 - 189 Investment in unquoted companies 156 (5) 150 155 (5 ) 149 Investment in debt securities 114 - 114 123 - 123 Loans to customers 100 - 100 81 - 81 14 345 (466) 13 879 16 434 (416 ) 16 019 There was no significant concentration of credit risks with any single counterparty as at 30 June 2023 and no single customer represented more than 10% of the total revenue of the group in 2023. Impairment losses The allowance for impairment recognized during the period on financial assets was as follows: 30 June 2023 31 December 2022 Balance at end of previous year (416) (402) Impairment losses (27) (38) Derecognition 6 24 Currency translation and other (28) 1 Balance at end of period (466) (416) E) LIQUIDITY RISK Historically, AB InBev’s primary sources of cash flow have been cash flows from operating activities, the issuance of debt, bank borrowings and equity securities. AB InBev’s material cash requirements have included the following: · Debt servicing; · Capital expenditures; · Investments in companies; · Increases in ownership of AB InBev’s subsidiaries or companies in which it holds equity investments; · Share buyback programs; and · Payments of dividends and interest on shareholders’ equity. The company believes that cash flows from operating activities, available cash and cash equivalents as well as short term investments, along with related derivatives and access to borrowing facilities, will be sufficient to fund capital expenditures, financial instrument liabilities and dividend payments going forward. It is the intention of the company to continue to reduce its financial indebtedness through a combination of strong operating cash flow generation and continued refinancing. The following are the nominal contractual maturities of non-derivative 30 June 2023 Million US dollar Carrying Contractual flows Less 1-2 years 2-3 years 3-5 years More Non-derivative Unsecured bond issues (77 344) (132 501) (4 496) (4 575) (8 393) (16 859) (98 177) Trade and other payables (24 219) (24 507) (23 388) (263) (197) (312) (348) Lease liabilities (2 699) (3 149) (781) (580) (452) (561) (776) Secured bank loans (487) (497) (466) (5) (5) (10) (10) Unsecured bank loans (181) (181) (181) - - - - Unsecured other loans (136) (209) (36) (88) (33) (24) (27) Bank overdraft (53) (53) (53) - - - - (105 119) (161 097) (29 400) (5 512) (9 079) (17 767) (99 339) Derivative financial liabilities Equity derivatives (5 345) (5 345) (5 345) - - - - Foreign exchange derivatives (602) (602) (602) - - - - Cross currency interest rate swaps (153) (153) (9) (41) (57) (47) - Commodity derivatives (353) (353) (353) - - - - (6 453) (6 453) (6 308) (41) (57) (47) - Of which: related to cash flow hedges (961) (961) (907) - (33) (20) - 31 December 2022 Million US dollar Carrying Contractual flows Less 1-2 2-3 3-5 More 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) - 1 F) 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 Million US dollar 30 June 31 December 30 June 31 December 30 June 31 December Foreign currency Foreign exchange forwards 122 223 (599) (265) (477) (42) Foreign currency futures 3 4 (3) - - 4 Interest rate Interest rate swaps 4 - (3) (5) 1 (5) Cross currency interest rate swaps 46 63 (150) (187) (104) (124) Commodities Aluminum swaps 6 52 (181) (174) (175) (122) Sugar futures 19 4 - - 19 4 Energy 5 12 (49) (28) (44) (16) Other commodity derivatives 15 32 (123) (69) (109) (37) Equity Equity derivatives - - (5 345) (4 763) (5 345) (4 763) 219 391 (6 453) (5 492) (6 234) (5 101) Of which: Non-current 62 60 (113) (184) (50) (124) Current 157 331 (6 340) (5 308) (6 184) (4 977) 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 30 June 2023 31 December 2022 Million US dollar Carrying amount¹ Fair value Carrying amount¹ Fair value Fixed rate US dollar (53 029) (53 976) (52 993) (52 158) Euro (20 032) (18 637) (19 655) (17 926) Pound sterling (2 263) (2 078) (2 148) (2 039) Canadian dollar (525) (478) (515) (437) Other (465) (456) (458) (448) (76 315) (75 624) (75 769) (73 008) 1 The table sets out the fair value hierarchy based on the degree to which significant market inputs are observable: Fair value hierarchy 30 June 2023 Million US dollar Quoted (unadjusted) prices - level 1 Observable market Unobservable market Financial Assets Held for trading (non-derivatives) - 9 - Derivatives at fair value through profit and loss - 10 - Derivatives in a cash flow hedge relationship 45 86 - Derivatives in a fair value hedge relationship - 4 - Derivatives in a net investment hedge relationship - 74 - 45 183 - Financial Liabilities Deferred consideration on acquisitions at fair value - - 773 Derivatives at fair value through profit and loss - 5 352 - Derivatives in a cash flow hedge relationship 34 927 - Derivatives in a fair value hedge relationship - 3 - Derivatives in a net investment hedge relationship - 136 - 34 6 419 773 Fair value hierarchy 31 December 2022 Million US dollar Quoted (unadjusted) Observable market Unobservable market 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 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. 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 30 June 2023, the put option on the remaining shares held by ELJ was valued at 590m US dollar (31 December 2022: 585m US dollar) and recognized as a deferred consideration on acquisitions at fair value in the “level 3” category above. |
Collateral and contractual comm
Collateral and contractual commitments for the acquisition of property, plant and equipment, loans to customers and other | 6 Months Ended |
Jun. 30, 2023 | |
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Collateral and contractual commitments for the acquisition of property, plant and equipment, loans to customers and other | 20. Collateral and contractual commitments for the acquisition of property, plant and equipment, loans to customers and other In the six-month |
Contingencies
Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
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Contingencies | 21. 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 30 June 2023 and 31 December 2022, 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 30 June 2023 31 December 2022 Income tax and social contribution 11 322 11 586 Value-added and excise taxes 5 576 4 965 Other taxes 923 854 17 821 17 405 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 relating to the profits of its foreign subsidiaries. The cases are being challenged at both the administrative and judicial levels of the courts in Brazil. The administrative proceedings have resulted in partially favorable decisions, most of which are still subject to review by the Administrative Court. In October 2022, the Lower Administrative Court rendered a favorable decision to Ambev in one case. In March 2023, the Lower Administrative Court rendered two favorable decisions and one partially favorable decision to Ambev on three cases related to the taxation of profits of foreign subsidiaries. Ambev is awaiting formal notification of these decisions to analyze the contents and any applicable legal motions or appeals before the judicial level. 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 30 June 2023 is approximately 6.6 billion Brazilian real (1.4 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 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. In April 2023, Ambev received a partially favorable decision at the Upper Administrative Court for the portion of the tax assessment which was still awaiting judgment In June 2023, Ambev filed a judicial proceeding to appeal the unfavorable portion of the decision, which awaits judgment by the first judicial level. The updated assessed amount related to this uncertain tax position as of 30 June 2023 is approximately 10.7 billion Brazilian real (2.2 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 limitations 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. In April 2023, the Upper Administrative Court rendered partially favorable decisions to Ambev, related to the qualified penalties, in the Special Appeals. In June 2023, Ambev filed a judicial proceeding to appeal the unfavorable portion of the decisions, which awaits judgment by the first judicial level. 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 30 June 2023 is approximately 1.3 billion Brazilian real (0.3 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 30 June 2023 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 In June 2021, Ambev received a partially favorable decision for the 2020 case at the first level administrative court and filed an appeal to the Lower Administrative Court. In March 2023, Ambev received a favorable decision from the Lower Administrative Court, which fully canceled the tax assessment related to 2020, and this decision became final in May 2023. In June 2022, Ambev received a partially favorable decision at the first level administrative court regarding the 2015 case and filed an appeal to the Lower Administrative Court. The favorable portion of the decision is also subject to mandatory review by the Lower Administrative Court. The updated assessed amount related to this uncertain tax position as of 30 June 2023 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. 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, related to the disallowance of deductions associated with alleged unproven taxes paid abroad by its subsidiaries and has been filing defenses. The cases are being challenged at both the administrative and judicial levels. In November 2019, the Lower Administrative Court rendered a favorable decision to Ambev in one of the cases (related to the 2010 tax period), which became definitive. In January 2020, the Lower Administrative Court rendered unfavorable decisions regarding four of these assessments related to the periods of 2015 and 2016, for which Ambev filed Special Appeals to the Upper Administrative Court. In April 2023, Ambev received unfavorable decisions at the Upper Administrative Court in respect of the Special Appeals. Ambev is awaiting formal notification of these decisions, which are not final and remain subject to appeal at the judicial level. In connection with the tax assessments related to the periods of 2015 and 2016, additional 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 30 June 2023 is approximately 13.1 billion Brazilian real (2.7 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 (2018 to 2023 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 30 June 2023 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 its 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 30 June 2023 is approximately 14.5 billion Brazilian real (3.0 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- 2023 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, 202 This uncertain tax position continued to be applied by the Company impacting calendar years following those assessed (2019- 2023 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 Ambev appealed to the Upper Administrative Court against an unfavorable decision rendered by the Lower Administrative Court in June 2019. In January 2023, Ambev received an unfavourable decision at the Upper Administrative Court and has filed a motion for clarification. The amount related to this uncertain tax position as of 30 June 2023 is approximately 0.6 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 have been registering IPI presumed tax credits upon the acquisition of exempted goods manufactured therein. Since 2009, Ambev has been receiving a number of tax assessments from the Brazilian Federal Tax Authorities relating to the disallowance of such credits. 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, 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 proceedings to be approximately 6.2 billion Brazilian real (1.3 billion US dollar) as of 30 June 2023. Ambev has not recorded any provision in connection therewith. IPI Suspension In 2014 and 2015, Ambev received tax assessments from the Brazilian Federal Tax Authorities relating to IPI allegedly due over remittances of manufactured goods to other related factories. The cases are being challenged at both the administrative and judicial levels. In 2020, Ambev received a final 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 1.8 billion Brazilian real (0.4 billion US dollar) as of 30 June 2023. Ambev has not recorded any provision in connection therewith. ICMS tax credits Ambev is currently challenging tax assessments issued by the states of São Paulo, Rio de Janeiro, Minas Gerais, among others, questioning the legality of ICMS tax credits arising from transactions with companies that have tax incentives granted by other states. The cases are being challenged at both the administrative and judicial level of the courts. On August 2020, the STF issued a binding decision (Extraordinary Appeal No. 628.075) ruling that tax credits granted by the states in the context of the ICMS tax war shall be 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 motions for reconsideration to the second administrative level. Ambev management estimates the possible losses related to these assessments to be approximately 1.7 billion Brazilian real (0.4 billion US dollar) as of 30 June 2023. 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, which was amended by the third administrative level in favour of the tax authorities. This decision is not final and remain subject to appeal at the judicial level. With respect to the assessments issued by the State of São Paulo, Ambev received unfavourable decisions 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 0.8 billion Brazilian real (0.2 billion US dollar) as of 30 June 2023. 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 10.0 billion Brazilian real (2.1 billion US dollar) as of 30 June 2023. Ambev has not recorded any provisions for this matter. 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, 2020 and 2023, Ambev received final favorable decisions at the administrative level in some of these cases. In 2023, the Lower Administrative Court rendered favorable decisions to Ambev in two other cases and Ambev is awaiting formal notification of these decisions, which are not final and remain subject to appeal. 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 billion US dollar) as of 30 June 2023. Ambev has not recorded any provisions for this matter. 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 assessment from SARS claims that SAB owes billion US dollar) in taxes plus penalties and interest, which as at the time of assessment total 17.7 billion Rand (1 billion US dollar). The repurchase transaction also included an indemnity for certain tax liabilities of CCBA. CCBA has notified SAB that CCBA has received an assessment from SARS for 8.9 billion Rand (0.5 billion US dollar). Both of assessments are contested SAB the (s) for these matters as the chances of loss are not considered to be probable. 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 (73 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 (73 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 shares and Ambev would receive, in return, funds significantly lower than the current market value. This could result in a dilution of about to all Ambev’s shareholders. Furthermore, the holders of these warrants claimed 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. Among the seven cases related to this topic, one was settled in previous years. Five cases have been ruled irrevocably favorably to Ambev, with 3 decisions in 2023. The last case has already received a favorable decision and is pending before the Superior Court of Justice. Considering all these facts, Ambev and its external counsels strongly believe that the chance of loss in the remaining case is remote and therefore we have not established a provision for this litigation. PROPOSED IN QUEBEC Labatt and other, third-party defendants have been named in a proposed class action lawsuit in the Superior |
Related parties
Related parties | 6 Months Ended |
Jun. 30, 2023 | |
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Related parties | 22. Related parties There are no material changes in the company’s related party transactions during the six-month . |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
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SUMMARY OF CHANGES IN ACCOUNTING POLICIES | (A) 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 2023 and have not been listed in these unaudited condensed consolidated financial statements as they either do not apply or are immaterial to AB InBev’s consolidated financial statements. |
FOREIGN CURRENCIES | (B) FOREIGN CURRENCIES The most important exchange rates that have been used in preparing the financial statements are: Closing rate Average rate 1 US dollar equals: 30 June 2023 31 December 2022 30 June 2023 30 June 2022 Argentinean peso 256.709065 177.131872 - - Brazilian real 4.819192 5.217705 5.117130 5.049046 Canadian dollar 1.326614 1.353834 1.357985 1.268356 Colombian peso 4 183.19 4 807.99 4 638.30 3 920.73 Chinese yuan 7.268793 6.898736 6.927067 6.458363 Euro 0.920302 0.937559 0.927659 0.913529 Mexican peso 17.072031 19.361452 18.297743 20.324130 Pound sterling 0.789876 0.831548 0.812848 0.768921 Peruvian nuevo sol 3.636005 3.820004 3.773824 3.800274 South Korean won 1 322.27 1 260.16 1 301.06 1 221.30 South African rand 18.938593 16.968472 18.099957 15.476459 The company applies hyperinflation accounting for its Argentinean subsidiaries. The 2023 results, restated for purchasing power, were translated at the June 2023 closing rate of 256.709065 Argentinean pesos per US dollar (2022 results – at the June 2022 closing rate of 125.210300 Argentinean pesos per US dollar). |
Summary of significant accoun_3
Summary of significant accounting policies (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Summary of Exchange Rates | The most important exchange rates that have been used in preparing the financial statements are: Closing rate Average rate 1 US dollar equals: 30 June 2023 31 December 2022 30 June 2023 30 June 2022 Argentinean peso 256.709065 177.131872 - - Brazilian real 4.819192 5.217705 5.117130 5.049046 Canadian dollar 1.326614 1.353834 1.357985 1.268356 Colombian peso 4 183.19 4 807.99 4 638.30 3 920.73 Chinese yuan 7.268793 6.898736 6.927067 6.458363 Euro 0.920302 0.937559 0.927659 0.913529 Mexican peso 17.072031 19.361452 18.297743 20.324130 Pound sterling 0.789876 0.831548 0.812848 0.768921 Peruvian nuevo sol 3.636005 3.820004 3.773824 3.800274 South Korean won 1 322.27 1 260.16 1 301.06 1 221.30 South African rand 18.938593 16.968472 18.099957 15.476459 |
Segment reporting (Tables)
Segment reporting (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Summary of Segment Reporting | All figures in the table below are stated in million US dollar, except volume (million hls). The information presented is for the six-month (non-current) North America Middle Americas South America EMEA Asia Pacific Global Export and AB InBev Worldwide 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 Volume 47 51 72 72 76 77 43 43 50 45 - - 288 289 Revenue 7 926 8 192 7 573 6 693 5 849 5 333 4 070 3 940 3 679 3 471 236 399 29 333 28 027 Profit from operations 2 131 2 570 2 781 2 416 1 241 1 234 618 667 944 879 (749) (766) 6 965 7 000 Net finance income/(cost) (3 223) (2 268) Share of results of associates 105 129 Exceptional share of results of associates - (1 143) Income tax expense (1 192) (1 244) Profit 2 655 2 474 Segment assets (non-current) 63 278 63 379 72 260 66 262 15 598 14 297 29 103 30 918 11 800 12 397 2 828 2 505 194 868 189 757 Gross capex 216 222 561 537 402 414 393 329 246 214 288 288 2 107 2 002 |
Exceptional items (Tables)
Exceptional items (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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Summary of Exceptional Items Included in Income Statement | The exceptional items included in the income statement are as follows: For the six-month Million US dollar 2023 2022¹ COVID-19 - (13) Restructuring (50) (51) Business and asset disposal (including impairment losses) (38) 6 Legal costs (19) - AB InBev Efes related costs - (47) Impact on profit from operations (107) (105) Exceptional net finance income/(cost) (703) 176 Exceptional share of results of associates - (1 143) Exceptional taxes 51 69 Exceptional non-controlling 9 (3) Net impact on profit (750) (1 006) 1 |
Finance cost and income (Tables
Finance cost and income (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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Summary of Finance Cost and Income Included in Income Statement | The finance cost and income included in the income statement are as follows: 2023 2022¹ Million US dollar Finance cost Finance income Net Finance cost Finance income Net Interest income/(expense) (1 855) 225 (1 630 ) (1 767) 84 (1 683 ) Net interest on net defined benefit liabilities (42) - (42 ) (37) - (37 ) Accretion expense (385) - (385 ) (336) - (336 ) Net interest income on Brazilian tax credits - 78 78 - 113 113 Other financial results (622) 82 (540 ) (696) 194 (501 ) Finance income/(cost) excluding exceptional items (2 905) 385 (2 520 ) (2 835) 391 (2 444 ) Exceptional finance income/(cost) (703) - (703 ) (127) 303 176 Finance income/(cost) (3 608) 385 (3 223 ) (2 962) 694 (2 268 ) 1 |
Summary of Other Financial | Other financial results for the six-month 2023 2022¹ Million US dollar Finance cost Finance income Net Finance cost Finance income Net Net foreign exchange gains/(losses) (149) - (149 ) (143) - (143 ) Net gains/(losses) on hedging instruments (354) - (354 ) (422) - (422 ) Hyperinflation monetary adjustments - 66 66 - 138 138 Other financial income/(cost), including bank fees and taxes (119) 16 (103 ) (131) 56 (75 ) Other financial results (622) 82 (540 ) (696) 194 (501 ) 1 |
Income taxes (Tables)
Income taxes (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Summary of Income Taxes | Income taxes recognized in the income statement can be detailed as follows: For the six-month Million US dollar 2023 2022 Current tax expense (1 554 ) (1 704) Deferred tax (expense)/income 362 459 Total income tax expense in the income statement (1 192 ) (1 244) |
Summary of Reconciliation of Effective Tax Rate with Aggregated Weighted Nominal Tax Rate | The reconciliation of the effective tax rate with the aggr riz For the six-month Million US dollar 2023 2022 Profit/(loss) before tax 3 847 3 718 Deduct share of results of associates 105 129 Deduct exceptional share of results of associates - (1 143) Profit before tax and before share of results of associates 3 741 4 732 Adjustments to the tax basis Government incentives (346) (304) Non-deductible/(non-taxable) mark-to-market 703 (296) Other expenses not deductible for tax purposes 775 962 Other non-taxable (291) (346) Adjusted tax basis 4 582 4 748 Aggregate weighted nominal tax rate 26.9 26.9% Tax at aggregated nominal tax rate (1 235) (1 277) Adjustments on tax expense Recognition/(de-recognition) (98) (8) (Underprovided)/overprovided in prior years (56) 24 Deductions from interest on equity 323 268 Deductions from goodwill and other tax deductions 168 5 Change in tax rate - 5 Withholding taxes (205) (181) Other tax adjustments (90) (81) Total tax expense (1 192) (1 244) Effective tax rate 31.9% 26.3% |
Property, plant and equipment (
Property, plant and equipment (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Summary of Property, Plant and Equipment Owned and Leased Assets | Property, plant and equipment comprises owned and leased assets, as follows: Million US dollar 30 June 2023 31 December 2022 Property, plant and equipment owned 24 553 24 245 Property, plant and equipment leased (right-of-use 2 627 2 426 Total property, plant and equipment 27 181 26 671 |
Summary of Property, Plant and Equipment | 30 June 2023 31 December 2022 Million US dollar Land and buildings Plant and equipment, fixtures and fittings Under construction Total Total Acquisition cost Balance at end of previous year 12 591 37 473 2 205 52 269 50 742 Effect of movements in foreign exchange 211 671 52 934 (983) Acquisitions 3 728 1 017 1 748 4 279 Disposals through sale and derecognition (24) (507) - (532) (1 822) Disposals through the sale of subsidiaries - - - - (13) Transfer (to)/from other asset categories and other movements¹ 172 1 125 (1 130) 167 66 Balance at end of the period 12 953 39 491 2 143 54 587 52 269 Depreciation and impairment losses Balance at end of previous year (4 584) (23 440) - (28 024) (26 284) Effect of movements in foreign exchange (55) (426) - (482) 507 Depreciation (197) (1 578) - (1 775) (3 530) Disposals through sale and derecognition 18 476 - 494 1 631 Disposals through the sale of subsidiaries - - - - 8 Impairment losses (3) (57) - (60) (172) Transfer to/(from) other asset categories and other movements¹ (6) (180) - (186) (186) Balance at end of the period (4 827) (25 206) - (30 033) (28 024) Carrying amount at 31 December 2022 8 007 14 033 2 205 24 245 24 245 at 30 June 2023 8 126 14 285 2 143 24 553 - 1 Non-current assets held for sale and discontinued operations Financial reporting in hyperinflationary economies. |
Summary of Property, Plant and Equipment Leased (right- of- use assets) | Property, plant and equipment leased by the company (right-of-use 30 June 2023 Million US dollar Land and buildings Machinery, equipment and other Total Net carrying amount at June 30 1 713 914 2 627 Depreciation for the period ended June 30 (223 ) (148) (371) 31 December 2022 Million US dollar Land and buildings Machinery, Total Net carrying amount at 31 December 1 640 786 2 426 Depreciation for the year ended 31 December (398 ) (230) (628) |
Goodwill (Tables)
Goodwill (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Reconciliation of Goodwill | Million US dollar 30 June 2023 31 December 2022 Acquisition cost Balance at end of previous year 115 541 118 461 Effect of movements in foreign exchange 2 664 (3 147) Disposals through the sale of subsidiaries - (32) Transfers (to)/from other asset categories (17) (68) Hyperinflation monetary adjustments 246 328 Balance at end of the period 118 434 115 541 Impairment losses Balance at end of previous year (2 531) (2 665) Effect of movements in foreign exchange 265 134 Balance at end of the period (2 266) (2 531) Carrying amount Balance at end of the period 116 168 113 010 |
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 30 June 2023 31 December 2022 United States 33 562 33 578 Rest of North America 2 022 1 981 Mexico 14 543 12 823 Colombia 14 588 12 692 Rest of Middle Americas 23 904 23 242 Brazil 3 798 3 508 Rest of South America 1 294 1 249 Europe 2 141 2 081 South Africa 8 558 9 551 Rest of Africa 4 899 5 131 China 2 960 3 119 Rest of Asia Pacific 3 341 3 505 Global Export and Holding Companies 559 549 Total carrying amount of goodwill 116 168 113 010 |
Intangible assets (Tables)
Intangible assets (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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Summary of Intangible Assets | 30 June 2023 31 December 2022 Million US dollar Brands Commercial Software Other Total Total Acquisition cost Balance at end of previous year 37 741 2 026 4 050 354 44 170 45 015 Effect of movements in foreign exchange 461 60 149 (3) 667 (751) Acquisitions and expenditures 6 166 301 9 482 978 Disposals through sale and derecognition (1) - (33) (6) (40) (1 437) Transfer (to)/from other asset categories and other movements¹ 23 7 338 (223) 145 365 Balance at end of period 38 229 2 259 4 805 131 45 424 44 170 Amortization and impairment losses Balance at end of previous year (88) (1 247) (2 577) (49) (3 961) (4 585) Effect of movements in foreign exchange - (47) (100) (3) (150) 100 Amortization - (65) (262) (13) (340) (647) Impairment - - (1) - (1) (4) Disposals through sale and derecognition - - 33 1 34 1 339 Transfer to/(from) other asset categories and other movements¹ - (8) (15) (9) (32) (164) Balance at end of period (88) (1 367) (2 923) (73) (4 451) (3 961) Carrying value at 31 December 2022 37 652 779 1 473 305 40 209 40 209 at 30 June 2023 38 141 892 1 882 58 40 973 1 Non-current assets held for sale and discontinued operations Financial reporting in hyperinflationary economies |
Investments in associates (Tabl
Investments in associates (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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: 2023 2022 Million US dollar Castel Anadolu Efes AB InBev Castel Anadolu Balance at 1 January 3 293 171 1 143 3 400 201 Effect of movements in foreign exchange 52 (48) - (245) (39) Dividends received - (12) - - (16) Share of results of associates 67 4 - 82 (5) Exceptional share of results of associates - - (1 143) - - Balance at 30 June 3 412 115 - 3 237 141 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Schedule of Non-Current Trade and Other Receivables | Million US dollar 30 June 2023 31 December 2022 Cash deposits for guarantees 169 189 Loans to customers 7 10 Tax receivable, other than income tax 170 137 Brazilian tax credits and interest receivables 1 247 1 149 Trade and other receivables 302 298 Non-current 1 895 1 782 Trade receivables and accrued income 4 579 3 637 Interest receivables 83 67 Tax receivable, other than income tax 538 444 Loans to customers 93 71 Prepaid expenses 517 410 Other receivables 798 702 Current trade and other receivables 6 609 5 330 |
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 Of which: Of which not impaired as of the reporting date and past due Net carrying impaired nor Less than 30 Between 30 Between 60 More than Trade receivables and accrued income 4 579 4 375 137 31 29 7 Loans to customers 100 84 15 1 - - Interest receivable 83 83 - - - - Other receivables 798 768 8 11 11 1 5 561 5 310 160 43 40 8 Net carrying Of which: Of which not impaired as of the reporting date and past due amount as impaired nor Less than 30 Between 30 Between 60 More than 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 |
Cash and cash equivalents and_2
Cash and cash equivalents and investment securities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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Schedule of Cash and Cash Equivalents | Million US dollar 30 June 2023 31 December 2022 Short-term bank deposits 2 145 4 685 Cash and bank accounts 4 702 5 288 Cash and cash equivalents 6 848 9 973 Bank overdrafts (53 ) (83 ) Cash and cash equivalents in the statement of cash flows 6 794 9 890 |
Summary Of Investments In Short term Debt Securities | Million US dollar 30 June 2023 31 December 2022 Investment in unquoted companies 150 149 Investment on debt securities 29 26 Non-current 179 175 Investment on debt securities 85 97 Current investments 85 97 |
Changes in equity and earning_2
Changes in equity and earnings per share (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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 the six-month 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 35.5 (3 706 ) (4 559 ) Changes during the period (3.0 ) 312 (230 ) At the end of the current period 32.5 (3 393 ) (4 789 ) |
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 2023 (34 677) 145 (1 021) (35 553) Other comprehensive income/(loss) Exchange differences on translation of foreign operations (gains/(losses)) 3 610 - - 3 610 Cash flow hedges - (541) - (541) Re-measurements - - 3 3 Other comprehensive income/(loss) 3 610 (541) 3 3 072 As per 30 June 2023 (31 067) (396) (1 018) (32 481) The decrease in translation reserves is primarily related to the combined effect of the appreciation of the closing rates of the Colombian peso, the Euro, the Mexican peso, the Peruvian sol and the weakening of the closing rate of the South African rand, which resulted in a net foreign exchange translation adjustment of 3 610m US dollar as of 30 June 2023 (increase of equity). 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)) 2 101 - - 2 101 Cash flow hedges - (210) - (210) Re-measurements - - - - Other comprehensive income/(loss) 2 101 (210) - 1 892 As per 30 June 2022 (31 453) 271 (1 504) (32 685) |
Summary of Basic and Diluted Earnings Per Share | EARNINGS PER SHARE The calculation of basic earnings per share for the six-month Million shares 2023 2022 Issued ordinary and restricted shares at 1 January, net of treasury shares 1 984 1 981 Effect of stock lending 30 30 Effect of delivery of treasury shares 2 1 Weighted average number of ordinary and restricted shares at 30 June 2 016 2 012 The calculation of diluted earnings per share for the six-month Million shares 2023 2022 Weighted average number of ordinary and restricted shares at 30 June 2 016 2 012 Effect of share options, warrants and restricted stock units 38 35 Weighted average number of ordinary and restricted shares (diluted) at 30 June 2 054 2 047 The calculation of the Underlying EPS is based on the profit before exceptional items and hyperinflation impacts attributable to equity holders of AB InBev. A reconciliation of the profit attributable to equity holders of AB InBev to the profit before exceptional items, attributable to equity holders of AB InBev and underlying profit is calculated as follows: For the six-month Million US dollar 2023 2022¹ Profit attributable to equity holders of AB InBev 1 977 1 692 Net impact of exceptional items on profit (refer to Note 7) 750 1 006 Profit before exceptional items, attributable to equity holders of AB InBev 2 727 2 698 Hyperinflation impacts 35 (26) Underlying profit 2 762 2 672 1 |
Summary of Calculation of EPS | The table below sets out the EPS calculation: For the six-month Million US dollar 2023 2022 Profit attributable to equity holders of AB InBev 1 977 1 692 Weighted average number of ordinary and restricted shares 2 016 2 012 Basic EPS 0.98 0.84 Underlying profit 2 762 2 672 Weighted average number of ordinary and restricted shares 2 016 2 012 Underlying EPS 1.37 1.33 Profit attributable to equity holders of AB InBev 1 977 1 692 Weighted average number of ordinary and restricted shares (diluted) 2 054 2 047 Diluted EPS 0.96 0.83 |
Interest-bearing loans and bo_2
Interest-bearing loans and borrowings (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Summary of Interest-bearing Loans and Borrowings | Million US dollar 30 June 2023 31 December 2022 Unsecured bond issues 76 160 76 798 Lease liabilities 2 034 1 963 Unsecured other loans 105 95 Secured bank loans 23 24 Non-current 78 323 78 880 Unsecured bond issues 1 184 - Lease liabilities 665 529 Secured bank loans 463 369 Unsecured bank loans 181 100 Unsecured other loans 31 30 Current interest-bearing loans and borrowings 2 524 1 029 Interest-bearing loans and borrowings 80 847 79 909 |
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 30 June 2023 31 December 2022 Non-current 78 323 78 880 Current interest-bearing loans and borrowings 2 524 1 029 Interest-bearing loans and borrowings 80 847 79 909 Bank overdrafts 53 83 Cash and cash equivalents (6 848) (9 973) Interest bearing loans granted and other deposits (included within Trade and other receivables) (184) (183) Debt securities (included within Investment securities) (114) (123) Net debt 73 755 69 713 |
Summary of Changes in the Company's Liabilities Arising from Financing Activities | Million US dollar Long-term debt, net of Short-term debt and term debt Balance at 1 January 2023 78 880 1 029 Proceeds from borrowings 7 174 Payments on borrowings - (26) Capitalization / (payment) of lease liabilities 446 (323) Amortized cost 30 - Unrealized foreign exchange effects 569 40 Current portion of long-term debt (1 627) 1 627 (Gain)/Loss on bond redemption and other movements 17 4 Balance at 30 June 2023 78 323 2 524 Million US dollar Long-term debt, net of current portion Short-term debt and current portion of long- term debt Balance at 1 January 2022 87 369 1 408 Proceeds from borrowings 41 27 Payments on borrowings (3 218) (302) Capitalization / (payment) of lease liabilities 356 (247) Amortized cost 31 - Unrealized foreign exchange effects (2 259) (13) Current portion of long-term debt (302) 302 (Gain)/Loss on bond redemption and other movements 99 10 Balance at 30 June 2022 82 117 1 185 |
Risks arising from financial _2
Risks arising from financial instruments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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: 30 June 2023 31 December 2022 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 6 848 - - 6 848 9 973 - - 9 973 Trade and other receivables 6 032 - - 6 032 4 973 - - 4 973 Investment securities 29 85 150 264 25 97 149 272 Interest rate swaps - 4 - 4 - - - - Cross currency interest rate swaps - - 46 46 - - 63 63 Foreign exchange forwards - 10 112 122 - 41 182 223 Foreign currency futures - - 3 3 - - 4 4 Commodities - - 45 45 - - 101 101 Financial assets 12 908 98 356 13 362 14 971 139 498 15 608 Non-current 507 - 212 720 522 15 193 730 Current 12 401 98 143 12 642 14 450 124 305 14 878 Trade and other payables 19 754 773 - 20 527 21 983 762 - 22 746 Non-current 77 117 1 205 - 78 323 78 880 - - 78 880 Current interest-bearing loans and borrowings 2 524 - - 2 524 1 029 - - 1 029 Bank overdrafts 53 - - 53 83 - - 83 Equity swaps - 5 345 - 5 345 - 4 763 - 4 763 Cross currency interest rate swaps - - 150 150 - 16 171 187 Foreign exchange forwards - 8 591 599 - 20 245 265 Foreign currency futures - - 3 3 - - - - Commodities - - 353 353 - - 271 271 Interest rate swaps - 3 - 3 - 3 2 5 Financial liabilities 99 448 7 334 1 098 107 880 101 975 5 565 689 108 229 Non-current 77 504 1 592 113 79 209 79 108 473 168 79 749 Current 21 944 5 741 985 28 671 22 867 5 092 521 28 480 |
Summary of Effective Interest Rates at Balance Sheet | 30 June 2023 Before hedging After hedging Interest-bearing financial liabilities Effective Amount Effective Amount Million US dollar interest rate interest rate Floating rate Canadian dollar - - 4.73% 954 Euro 3.48% 1 068 3.48% 1 068 US dollar 5.67% 518 - - Brazilian real 9.58% 26 11.59% 826 Other 13.64% 273 13.25% 672 1 885 3 520 Fixed rate Canadian dollar 4.51% 623 4.37% 3 736 Chinese yuan 2.57% 48 2.54% 1 428 Euro 2.27% 20 815 2.30% 21 699 Pound sterling 5.13% 2 322 5.55% 1 689 South Korean won 5.38% 53 1.26% 2 213 US dollar 4.99% 53 511 5.23% 45 269 Other 9.29% 1 643 10.43% 1 346 79 015 77 380 31 December 2022 Before hedging After hedging Interest-bearing financial liabilities Effective Amount Effective Amount Million US dollar interest rate interest rate 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 As at 30 June 2023, the total carrying amount of the floating and fixed rate interest-bearing financial liabilities before hedging as listed above includes bank overdrafts of 53m US dollar (31 December 2022: 83m US dollar). As disclosed in the above table, 3 520m US dollar or 4.4% of the company’s interest-bearing financial liabilities bears interest at a variable rate. |
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: 30 June 2023 31 December 2022 Million US dollar Gross Impairment Net carrying Gross Impairment Net carrying Cash and cash equivalents 6 848 - 6 848 9 973 - 9 973 Trade receivables 4 964 (385) 4 579 3 980 (343 ) 3 637 Other receivables 1 775 (75) 1 701 1 545 (68 ) 1 477 Derivatives 219 - 219 391 - 391 Cash deposits for guarantees 169 - 169 189 - 189 Investment in unquoted companies 156 (5) 150 155 (5 ) 149 Investment in debt securities 114 - 114 123 - 123 Loans to customers 100 - 100 81 - 81 14 345 (466) 13 879 16 434 (416 ) 16 019 |
Summary of Allowance for Impairment | The allowance for impairment recognized during the period on financial assets was as follows: 30 June 2023 31 December 2022 Balance at end of previous year (416) (402) Impairment losses (27) (38) Derecognition 6 24 Currency translation and other (28) 1 Balance at end of period (466) (416) |
Summary of Nominal Contractual Maturities of Non-Derivative Financial Liabilities | The following are the nominal contractual maturities of non-derivative 30 June 2023 Million US dollar Carrying Contractual flows Less 1-2 years 2-3 years 3-5 years More Non-derivative Unsecured bond issues (77 344) (132 501) (4 496) (4 575) (8 393) (16 859) (98 177) Trade and other payables (24 219) (24 507) (23 388) (263) (197) (312) (348) Lease liabilities (2 699) (3 149) (781) (580) (452) (561) (776) Secured bank loans (487) (497) (466) (5) (5) (10) (10) Unsecured bank loans (181) (181) (181) - - - - Unsecured other loans (136) (209) (36) (88) (33) (24) (27) Bank overdraft (53) (53) (53) - - - - (105 119) (161 097) (29 400) (5 512) (9 079) (17 767) (99 339) Derivative financial liabilities Equity derivatives (5 345) (5 345) (5 345) - - - - Foreign exchange derivatives (602) (602) (602) - - - - Cross currency interest rate swaps (153) (153) (9) (41) (57) (47) - Commodity derivatives (353) (353) (353) - - - - (6 453) (6 453) (6 308) (41) (57) (47) - Of which: related to cash flow hedges (961) (961) (907) - (33) (20) - 31 December 2022 Million US dollar Carrying Contractual flows Less 1-2 2-3 3-5 More 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) - 1 |
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 Million US dollar 30 June 31 December 30 June 31 December 30 June 31 December Foreign currency Foreign exchange forwards 122 223 (599) (265) (477) (42) Foreign currency futures 3 4 (3) - - 4 Interest rate Interest rate swaps 4 - (3) (5) 1 (5) Cross currency interest rate swaps 46 63 (150) (187) (104) (124) Commodities Aluminum swaps 6 52 (181) (174) (175) (122) Sugar futures 19 4 - - 19 4 Energy 5 12 (49) (28) (44) (16) Other commodity derivatives 15 32 (123) (69) (109) (37) Equity Equity derivatives - - (5 345) (4 763) (5 345) (4 763) 219 391 (6 453) (5 492) (6 234) (5 101) Of which: Non-current 62 60 (113) (184) (50) (124) Current 157 331 (6 340) (5 308) (6 184) (4 977) |
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 30 June 2023 31 December 2022 Million US dollar Carrying amount¹ Fair value Carrying amount¹ Fair value Fixed rate US dollar (53 029) (53 976) (52 993) (52 158) Euro (20 032) (18 637) (19 655) (17 926) Pound sterling (2 263) (2 078) (2 148) (2 039) Canadian dollar (525) (478) (515) (437) Other (465) (456) (458) (448) (76 315) (75 624) (75 769) (73 008) 1 |
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 30 June 2023 Million US dollar Quoted (unadjusted) prices - level 1 Observable market Unobservable market Financial Assets Held for trading (non-derivatives) - 9 - Derivatives at fair value through profit and loss - 10 - Derivatives in a cash flow hedge relationship 45 86 - Derivatives in a fair value hedge relationship - 4 - Derivatives in a net investment hedge relationship - 74 - 45 183 - Financial Liabilities Deferred consideration on acquisitions at fair value - - 773 Derivatives at fair value through profit and loss - 5 352 - Derivatives in a cash flow hedge relationship 34 927 - Derivatives in a fair value hedge relationship - 3 - Derivatives in a net investment hedge relationship - 136 - 34 6 419 773 Fair value hierarchy 31 December 2022 Million US dollar Quoted (unadjusted) Observable market Unobservable market 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 |
Contingencies (Tables)
Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Text block [abstract] | |
Summary of Ab Inbev's Material Tax Proceedings Related to Ambev and Its Subsidiaries | As of 30 June 2023 and 31 December 2022, 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 30 June 2023 31 December 2022 Income tax and social contribution 11 322 11 586 Value-added and excise taxes 5 576 4 965 Other taxes 923 854 17 821 17 405 |
Corporate Information - Additio
Corporate Information - Additional Information (Detail) $ in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 USD ($) Country Brand | Jun. 30, 2022 USD ($) | [1] | Dec. 31, 2022 USD ($) Employees | |
Disclosure Of Corporate Information [line items] | ||||
Revenue | $ 29,333 | $ 28,027 | ||
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]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) | Jun. 30, 2023 | Jun. 30, 2022 |
ARS [Member] | ||
Disclosure Of Exchange Rates [line items] | ||
Closing foreign exchange rate | 256.709065 | 125.2103 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Exchange Rates (Detail) | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Argentinean Peso [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 256.709065 | 177.131872 | |
Brazilian Real [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 4.819192 | 5.217705 | |
Average rate | 5.11713 | 5.049046 | |
Canadian Dollar [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 1.326614 | 1.353834 | |
Average rate | 1.357985 | 1.268356 | |
Colombian Peso [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 4,183.19 | 4,807.99 | |
Average rate | 4,638.3 | 3,920.73 | |
Chinese Yuan [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 7.268793 | 6.898736 | |
Average rate | 6.927067 | 6.458363 | |
Euro [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 0.920302 | 0.937559 | |
Average rate | 0.927659 | 0.913529 | |
Mexican Peso [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 17.072031 | 19.361452 | |
Average rate | 18.297743 | 20.32413 | |
Pound Sterling [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 0.789876 | 0.831548 | |
Average rate | 0.812848 | 0.768921 | |
Peruvian Nuevo Sol [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 3.636005 | 3.820004 | |
Average rate | 3.773824 | 3.800274 | |
South Korean Won [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 1,322.27 | 1,260.16 | |
Average rate | 1,301.06 | 1,221.3 | |
South African Rand [member] | |||
Disclosure Of Exchange Rates [line items] | |||
Closing rate | 18.938593 | 16.968472 | |
Average rate | 18.099957 | 15.476459 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 USD ($) Segments Region | Jun. 30, 2022 USD ($) | ||
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 | $ 29,333 | $ 28,027 | [1] |
Beer business [member] | |||
Disclosure of operating segments [line items] | |||
Net revenue | 26,071 | 25,063 | |
Non-beer business [member] | |||
Disclosure of operating segments [line items] | |||
Net revenue | $ 3,262 | $ 2,964 | |
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation. |
Segment Reporting - Summary of
Segment Reporting - Summary of Segment Reporting (Detail) HLS in Millions, $ in Millions | 6 Months Ended | |||
Jun. 30, 2023 USD ($) HLS | Jun. 30, 2022 USD ($) HLS | Dec. 31, 2022 USD ($) | ||
Disclosure of operating segments [line items] | ||||
Revenue | $ 29,333 | $ 28,027 | [1] | |
Profit from operations | 6,965 | 7,000 | [1] | |
Net finance income/(cost) | (3,223) | (2,268) | [1] | |
Exceptional share of results of associates | (1,143) | [1] | ||
Income tax expense | (1,192) | (1,244) | [1] | |
Profit | 2,655 | $ 2,474 | [1],[2] | |
Segment assets (non-current) | $ 194,868 | $ 189,757 | ||
AB InBev Worldwide [member] | ||||
Disclosure of operating segments [line items] | ||||
Volume (million hls) | HLS | 288 | 289 | ||
Revenue | $ 29,333 | $ 28,027 | ||
Profit from operations | 6,965 | 7,000 | ||
Net finance income/(cost) | (3,223) | (2,268) | ||
Share of results of associates | 105 | 129 | ||
Exceptional share of results of associates | 0 | (1,143) | ||
Income tax expense | (1,192) | (1,244) | ||
Profit | 2,655 | 2,474 | ||
Segment assets (non-current) | 194,868 | 189,757 | ||
Gross capex | $ 2,107 | $ 2,002 | ||
AB InBev Worldwide [member] | North America [member] | ||||
Disclosure of operating segments [line items] | ||||
Volume (million hls) | HLS | 47 | 51 | ||
Revenue | $ 7,926 | $ 8,192 | ||
Profit from operations | 2,131 | 2,570 | ||
Segment assets (non-current) | 63,278 | 63,379 | ||
Gross capex | $ 216 | $ 222 | ||
AB InBev Worldwide [member] | Middle America [Member] | ||||
Disclosure of operating segments [line items] | ||||
Volume (million hls) | HLS | 72 | 72 | ||
Revenue | $ 7,573 | $ 6,693 | ||
Profit from operations | 2,781 | 2,416 | ||
Segment assets (non-current) | 72,260 | 66,262 | ||
Gross capex | $ 561 | $ 537 | ||
AB InBev Worldwide [member] | South America [Member] | ||||
Disclosure of operating segments [line items] | ||||
Volume (million hls) | HLS | 76 | 77 | ||
Revenue | $ 5,849 | $ 5,333 | ||
Profit from operations | 1,241 | 1,234 | ||
Segment assets (non-current) | 15,598 | 14,297 | ||
Gross capex | $ 402 | $ 414 | ||
AB InBev Worldwide [member] | EMEA [member] | ||||
Disclosure of operating segments [line items] | ||||
Volume (million hls) | HLS | 43 | 43 | ||
Revenue | $ 4,070 | $ 3,940 | ||
Profit from operations | 618 | 667 | ||
Segment assets (non-current) | 29,103 | 30,918 | ||
Gross capex | $ 393 | $ 329 | ||
AB InBev Worldwide [member] | Asia Pacific [member] | ||||
Disclosure of operating segments [line items] | ||||
Volume (million hls) | HLS | 50 | 45 | ||
Revenue | $ 3,679 | $ 3,471 | ||
Profit from operations | 944 | 879 | ||
Segment assets (non-current) | 11,800 | 12,397 | ||
Gross capex | 246 | 214 | ||
AB InBev Worldwide [member] | Global export and holding companies [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 236 | 399 | ||
Profit from operations | (749) | (766) | ||
Segment assets (non-current) | 2,828 | $ 2,505 | ||
Gross capex | $ 288 | $ 288 | ||
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation.[2]The 2022 presentation was amended to conform to the 2023 presentation. |
Exceptional items - Summary of
Exceptional items - Summary of Exceptional Items Included in Income Statement (Detail) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | [1] | |
Disclosure of Exceptional Items [line items] | |||
COVID-19 costs | $ (13) | ||
Restructuring | (50) | (51) | |
Business and asset disposal (including impairment losses) | (38) | 6 | |
Legal costs | (19) | ||
AB InBev Efes related costs | (47) | ||
Impact on profit from operations | (107) | (105) | |
Exceptional net finance income/(cost) | (703) | 176 | |
Exceptional share of results of associates | (1,143) | ||
Exceptional taxes | 51 | 69 | |
Exceptional non-controlling interest | 9 | (3) | |
Net impact on profit | $ (750) | $ (1,006) | |
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation. |
Exceptional Items - Additional
Exceptional Items - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Disclosure of Exceptional Items [line items] | |||
Exceptional restructuring charges | $ (50) | $ (51) | [1] |
Business and asset disposal | (38) | 6 | [1] |
NET finance (cost) income | (703) | 176 | |
Decrease of income taxes | 51 | 69 | |
AB InBev Efes related costs | (47) | [1] | |
Non-controlling interest on the exceptional items | 9 | (3) | |
Exceptional Legal Costs | $ (19) | [1] | |
Impairment on investment | $ (1,143) | ||
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation. |
Finance Cost and Income - Summa
Finance Cost and Income - Summary of Finance Cost and Income Included in Income Statement (Detail) - USD ($) $ in Millions | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | |||
Disclosure of finance income expense [line items] | ||||
Finance cost - Interest income/(expense) | $ (1,855) | $ (1,767) | [1] | |
Finance cost - Net interest on net defined benefit liabilities | (42) | (37) | [1] | |
Finance cost - Accretion expense | (385) | (336) | [1] | |
Finance cost - Other financial results | (622) | (696) | [1] | |
Finance cost - Finance income/(cost) excluding exceptional items | (2,905) | (2,835) | [1] | |
Finance cost - Exceptional finance income/(cost) | (703) | (127) | [1] | |
Finance cost - Finance income/(cost) | (3,608) | (2,962) | [1] | |
Finance income - Interest income/(expense) | 225 | 84 | [1] | |
Finance income - Net interest income on Brazilian tax credits | 78 | 113 | [1] | |
Finance income - Other financial results | 82 | 194 | [1] | |
Finance income - Finance income/(cost) excluding exceptional items | 385 | 391 | [1] | |
Finance income - Exceptional finance income/(cost) | [1] | 303 | ||
Finance income - Finance income/(cost) | 385 | 694 | [1] | |
Net - Interest income/(expense) | (1,630) | (1,683) | [1] | |
Net - Net interest on net defined benefit liabilities | (42) | (37) | [1] | |
Net - Accretion expense | (385) | (336) | [1] | |
Net - Net interest income on Brazilian tax credits | 78 | 113 | [1] | |
Net - Other Financial results | (540) | (501) | [1] | |
Net - Finance income/(cost) excluding exceptional items | (2,520) | (2,444) | [1] | |
Net - Exceptional finance income/(cost) | (703) | 176 | [1] | |
Net finance income/(cost) | $ (3,223) | $ (2,268) | [1] | |
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation. |
Finance Cost and Income - Sum_2
Finance Cost and Income - Summary of Other Financial (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | [1] | |
Disclosure of Finance Income [abstract] | |||
Finance cost - Net foreign exchange gains/(losses) | $ (149) | $ (143) | |
Finance Cost - Net gains/(losses) on hedging instruments | (354) | (422) | |
Finance Cost - Other financial income/(cost), including bank fees and taxes | (119) | (131) | |
Finance Cost - Other financial results | (622) | (696) | |
Finance Income - Hyperinflation monetary adjustments | 66 | 138 | |
Finance Income - Other financial income/(cost), including bank fees and taxes | 16 | 56 | |
Finance Income - Other financial results | 82 | 194 | |
Net - Net foreign exchange gains/(losses) | (149) | (143) | |
Net - Net gains/(losses) on hedging instruments | (354) | (422) | |
Net - Hyperinflation monetary adjustments | 66 | 138 | |
Net - Other financial income/(cost), including bank fees and taxes | (103) | (75) | |
Net - Other financial results | $ (540) | $ (501) | |
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation. |
Finance Cost and Income - Addit
Finance Cost and Income - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of finance income expense [line items] | ||
Interest expense on lease liabilities | $ 75 | $ 60 |
Net finance income/(cost) excluding exceptional items | 2,520 | 2,444 |
Mark to market gain (loss) | (703) | 296 |
Unwinding of discount | 262 | 225 |
Interest expense on bonds | 30 | 32 |
Interest on provisions | $ 18 | 19 |
Gain (loss) on remeasurement of deferred considerations | 7 | |
Gain (Loss) on Redemption of Bonds | $ (127) |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Taxes (Detail) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Disclosure Of Income Taxes [line items] | |||
Current tax expense | $ (1,554) | $ (1,704) | |
Deferred tax (expense)/income | 362 | 459 | |
Total tax expense | $ (1,192) | $ (1,244) | [1] |
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 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 | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Disclosure Of Income Taxes [line items] | |||
Profit/(loss) before tax | $ 3,847 | $ 3,718 | |
Deduct share of results of associates | 105 | 129 | [1] |
Deduct exceptional share of results of associates | (1,143) | ||
Profit before tax and before share of results of associates | 3,741 | 4,732 | |
Adjustments to the tax basis | |||
Government incentives | (346) | (304) | |
Non-deductible/(non-taxable) mark-to-market on derivatives | 703 | (296) | |
Other expenses not deductible for tax purposes | 775 | 962 | |
Other non-taxable income | (291) | (346) | |
Adjusted tax basis | $ 4,582 | $ 4,748 | |
Aggregate weighted nominal tax rate | 26.90% | 26.90% | |
Tax at aggregated nominal tax rate | $ (1,235) | $ (1,277) | |
Adjustments on tax expense | |||
Recognition/(de-recognition) of deferred tax assets on tax losses (carried forward) | (98) | (8) | |
(Underprovided)/overprovided in prior years | (56) | 24 | |
Deductions from interest on equity | 323 | 268 | |
Deductions from goodwill and other tax deductions | 168 | 5 | |
Change in tax rate | 5 | ||
Withholding taxes | (205) | (181) | |
Other tax adjustments | (90) | (81) | |
Total tax expense | $ (1,192) | $ (1,244) | [1] |
Effective tax rate | 31.90% | 26.30% | |
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation. |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Disclosure Of Income Taxes [line items] | |||
Income tax expense | $ 1,192 | $ 1,244 | [1] |
Effective tax rate | 31.90% | 26.30% | |
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation. |
Property, Plant and Equipment -
Property, Plant and Equipment -Summary of Property, Plant and Equipment owned and Leased assets (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property plant and equipment | $ 27,181 | $ 26,671 |
Property, plant and equipment owned [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property plant and equipment | 24,553 | 24,245 |
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 | $ 2,627 | $ 2,426 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Detailed Information About Property, Plant and Equipment (Detail) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | ||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | $ 26,671 | ||
Ending balance | 27,181 | $ 26,671 | |
Carrying amount | 27,181 | 26,671 | |
Acquisition cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 52,269 | 50,742 | |
Effect of movements in foreign exchange | 934 | (983) | |
Acquisitions | 1,748 | 4,279 | |
Disposals through sale and derecognition | (532) | (1,822) | |
Disposals through the sale of subsidiaries | 0 | (13) | |
Transfer (to)/from other asset categories and other movements | [1] | 167 | 66 |
Ending balance | 54,587 | 52,269 | |
Carrying amount | 54,587 | 52,269 | |
Depreciation and impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (28,024) | (26,284) | |
Effect of movements in foreign exchange | (482) | 507 | |
Depreciation | (1,775) | (3,530) | |
Disposals through sale and derecognition | 494 | 1,631 | |
Disposals through the sale of subsidiaries | 0 | 8 | |
Impairment losses | (60) | (172) | |
Transfer (to)/from other asset categories and other movements | [1] | (186) | (186) |
Ending balance | (30,033) | (28,024) | |
Carrying amount | (30,033) | (28,024) | |
Land and buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 8,007 | ||
Ending balance | 8,126 | 8,007 | |
Carrying amount | 8,126 | 8,007 | |
Land and buildings [member] | Acquisition cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 12,591 | ||
Effect of movements in foreign exchange | 211 | ||
Acquisitions | 3 | ||
Disposals through sale and derecognition | (24) | ||
Disposals through the sale of subsidiaries | 0 | ||
Transfer (to)/from other asset categories and other movements | [1] | 172 | |
Ending balance | 12,953 | 12,591 | |
Carrying amount | 12,953 | 12,591 | |
Land and buildings [member] | Depreciation and impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (4,584) | ||
Effect of movements in foreign exchange | (55) | ||
Depreciation | (197) | ||
Disposals through sale and derecognition | 18 | ||
Disposals through the sale of subsidiaries | 0 | ||
Impairment losses | (3) | ||
Transfer (to)/from other asset categories and other movements | [1] | (6) | |
Ending balance | (4,827) | (4,584) | |
Carrying amount | (4,827) | (4,584) | |
Plant and equipment fixtures and fittings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 14,033 | ||
Ending balance | 14,285 | 14,033 | |
Carrying amount | 14,285 | 14,033 | |
Plant and equipment fixtures and fittings [member] | Acquisition cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 37,473 | ||
Effect of movements in foreign exchange | 671 | ||
Acquisitions | 728 | ||
Disposals through sale and derecognition | (507) | ||
Disposals through the sale of subsidiaries | 0 | ||
Transfer (to)/from other asset categories and other movements | [1] | 1,125 | |
Ending balance | 39,491 | 37,473 | |
Carrying amount | 39,491 | 37,473 | |
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 | (23,440) | ||
Effect of movements in foreign exchange | (426) | ||
Depreciation | (1,578) | ||
Disposals through sale and derecognition | 476 | ||
Disposals through the sale of subsidiaries | 0 | ||
Impairment losses | (57) | ||
Transfer (to)/from other asset categories and other movements | [1] | (180) | |
Ending balance | (25,206) | (23,440) | |
Carrying amount | (25,206) | (23,440) | |
Under construction [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 2,205 | ||
Ending balance | 2,143 | 2,205 | |
Carrying amount | 2,143 | 2,205 | |
Under construction [member] | Acquisition cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 2,205 | ||
Effect of movements in foreign exchange | 52 | ||
Acquisitions | 1,017 | ||
Disposals through sale and derecognition | 0 | ||
Transfer (to)/from other asset categories and other movements | [1] | (1,130) | |
Ending balance | 2,143 | 2,205 | |
Carrying amount | 2,143 | 2,205 | |
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 | [1] | 0 | |
Property Plant And Equipment Owned [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 24,245 | ||
Ending balance | 24,553 | 24,245 | |
Carrying amount | $ 24,553 | $ 24,245 | |
[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 | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Contractual commitments for acquisition of property, plant and equipment | $ 1,030 | $ 538 | |
AB InBev's net capital expenditures in the statement of cash flow | $ 2,063 | $ 1,939 | |
Lease agreement term | 27 years | ||
Additions to right of use assets | $ 448 | $ 301 | |
Assets to which significant restrictions apply | $ 0 | $ 0 | |
Bottom of range [member] | Dutch and Belgian pub real estate [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Sublease average outstanding period (in years) | 6 years | ||
Top of range [member] | Dutch and Belgian pub real estate [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Sublease average outstanding period (in years) | 8 years | ||
Production facilities [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Percentage of improve the production facilities | 33% | ||
Logistics and commercial investments [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Percentage of improve the production facilities | 49% | ||
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 | 18% | ||
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) | five 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 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Right-of-use assets, net carrying amount | $ 2,627 | $ 2,426 |
Right-of-use assets, depreciation for the period | (371) | (628) |
Land and buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Right-of-use assets, net carrying amount | 1,713 | 1,640 |
Right-of-use assets, depreciation for the period | (223) | (398) |
Machinery, equipment and other [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Right-of-use assets, net carrying amount | 914 | 786 |
Right-of-use assets, depreciation for the period | $ (148) | $ (230) |
Goodwill - Reconciliation of Go
Goodwill - Reconciliation of Goodwill (Detail) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill beginning balance | $ 113,010 | |
Goodwill ending balance | 116,168 | $ 113,010 |
Carrying amount | 116,168 | 113,010 |
Acquisition cost [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill beginning balance | 115,541 | 118,461 |
Effect of movements in foreign exchange | 2,664 | (3,147) |
Transfers (to)/from intangible assets | (17) | (68) |
Disposals through the sale of subsidiaries | (32) | |
Hyperinflation monetary adjustments | 246 | 328 |
Goodwill ending balance | 118,434 | 115,541 |
Carrying amount | 118,434 | 115,541 |
Impairment losses [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill beginning balance | (2,531) | (2,665) |
Effect of movements in foreign exchange | 265 | 134 |
Goodwill ending balance | (2,266) | (2,531) |
Carrying amount | $ (2,266) | $ (2,531) |
Goodwill - Summary of Carrying
Goodwill - Summary of Carrying Amount of Goodwill Allocated to Different Cash-generating Units (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | $ 116,168 | $ 113,010 |
United States [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 33,562 | 33,578 |
Rest of North America [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 2,022 | 1,981 |
Mexico [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 14,543 | 12,823 |
Colombia [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 14,588 | 12,692 |
Rest of Middle Americas [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 23,904 | 23,242 |
Brazil [Member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 3,798 | 3,508 |
Rest of South America [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 1,294 | 1,249 |
Europe [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 2,141 | 2,081 |
South Africa [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 8,558 | 9,551 |
Rest of Africa [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 4,899 | 5,131 |
China [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 2,960 | 3,119 |
Rest of Asia Pacific [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | 3,341 | 3,505 |
Global Export and Holding Companies [member] | ||
Disclosure Of Carrying Amount Of Goodwill [line items] | ||
Goodwill | $ 559 | $ 549 |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | ||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | $ 40,209 | ||
Balance at end of period | 40,973 | $ 40,209 | |
Amortization and impairment losses [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | (3,961) | (4,585) | |
Effect of movements in foreign exchange | (150) | 100 | |
Amortization | (340) | (647) | |
Impairment | (1) | (4) | |
Disposals through sale and derecognition | 34 | 1,339 | |
Transfer (to)/from other asset categories and other movements | [1] | (32) | (164) |
Balance at end of period | (4,451) | (3,961) | |
Acquisition cost [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | 44,170 | 45,015 | |
Effect of movements in foreign exchange | 667 | (751) | |
Acquisitions and expenditures | 482 | 978 | |
Disposals through sale and derecognition | (40) | (1,437) | |
Transfer (to)/from other asset categories and other movements | [1] | 145 | 365 |
Balance at end of period | 45,424 | 44,170 | |
Brands [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | 37,652 | ||
Balance at end of period | 38,141 | 37,652 | |
Brands [member] | Amortization and impairment losses [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | (88) | ||
Balance at end of period | (88) | (88) | |
Brands [member] | Acquisition cost [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | 37,741 | ||
Effect of movements in foreign exchange | 461 | ||
Acquisitions and expenditures | 6 | ||
Disposals through sale and derecognition | (1) | ||
Transfer (to)/from other asset categories and other movements | [1] | 23 | |
Balance at end of period | 38,229 | 37,741 | |
Commercial intangibles [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | 779 | ||
Balance at end of period | 892 | 779 | |
Commercial intangibles [member] | Amortization and impairment losses [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | (1,247) | ||
Effect of movements in foreign exchange | (47) | ||
Amortization | (65) | ||
Transfer (to)/from other asset categories and other movements | [1] | (8) | |
Balance at end of period | (1,367) | (1,247) | |
Commercial intangibles [member] | Acquisition cost [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | 2,026 | ||
Effect of movements in foreign exchange | 60 | ||
Acquisitions and expenditures | 166 | ||
Transfer (to)/from other asset categories and other movements | [1] | 7 | |
Balance at end of period | 2,259 | 2,026 | |
Software [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | 1,473 | ||
Balance at end of period | 1,882 | 1,473 | |
Software [member] | Amortization and impairment losses [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | (2,577) | ||
Effect of movements in foreign exchange | (100) | ||
Amortization | (262) | ||
Impairment | (1) | ||
Disposals through sale and derecognition | 33 | ||
Transfer (to)/from other asset categories and other movements | [1] | (15) | |
Balance at end of period | (2,923) | (2,577) | |
Software [member] | Acquisition cost [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | 4,050 | ||
Effect of movements in foreign exchange | 149 | ||
Acquisitions and expenditures | 301 | ||
Disposals through sale and derecognition | (33) | ||
Transfer (to)/from other asset categories and other movements | [1] | 338 | |
Balance at end of period | 4,805 | 4,050 | |
Other [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | 305 | ||
Balance at end of period | 58 | 305 | |
Other [member] | Amortization and impairment losses [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | (49) | ||
Effect of movements in foreign exchange | (3) | ||
Amortization | (13) | ||
Disposals through sale and derecognition | 1 | ||
Transfer (to)/from other asset categories and other movements | [1] | (9) | |
Balance at end of period | (73) | (49) | |
Other [member] | Acquisition cost [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at end of previous year | 354 | ||
Effect of movements in foreign exchange | (3) | ||
Acquisitions and expenditures | 9 | ||
Disposals through sale and derecognition | (6) | ||
Transfer (to)/from other asset categories and other movements | [1] | (223) | |
Balance at end of period | $ 131 | $ 354 | |
[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 |
Investment in Associates - Summ
Investment in Associates - Summarized Financial Information to Carrying Amount of Company's Interests in Material Associates (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of associates [line items] | ||
Beginning balance | $ 4,656 | |
Exceptional share of results of associates | 1,143 | |
Ending balance | 4,728 | |
AB InBev Efes [member] | ||
Disclosure of associates [line items] | ||
Beginning balance | $ 1,143 | |
Exceptional share of results of associates | (1,143) | |
Castel [member] | ||
Disclosure of associates [line items] | ||
Beginning balance | 3,293 | 3,400 |
Effect of movements in foreign exchange | 52 | (245) |
Share of results of associates | 67 | 82 |
Ending balance | 3,412 | 3,237 |
Anadolu Efes [member] | ||
Disclosure of associates [line items] | ||
Beginning balance | 171 | 201 |
Effect of movements in foreign exchange | (48) | (39) |
Dividends received | (12) | (16) |
Share of results of associates | 4 | (5) |
Ending balance | $ 115 | $ 141 |
Investments in Associates - Add
Investments in Associates - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | |
Disclosure of associates [line items] | |||
Investments in associates | $ 4,728 | $ 4,656 | |
Exceptional share of results of associates | 1,143 | ||
Aggregated individually immaterial associates [member] | |||
Disclosure of associates [line items] | |||
Investments in associates | $ 34 | $ 52 |
Trade and Other Receivables - S
Trade and Other Receivables - Schedule of Non-Current Trade and Other Receivables (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of trade and other receivables [abstract] | ||
Cash deposits for guarantees | $ 169 | $ 189 |
Loans to customers | 7 | 10 |
Tax receivable, other than income tax | 170 | 137 |
Brazilian tax credits and interest receivables | 1,247 | 1,149 |
Trade and other receivables | 302 | 298 |
Non-current trade and other receivables | $ 1,895 | $ 1,782 |
Trade and Other Receivables -_2
Trade and Other Receivables - Schedule of Current Trade and Other Receivables (Detail) - Net carrying amount [member] - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | $ 4,579 | $ 3,637 |
Interest receivables | 83 | 67 |
Tax receivable, other than income tax | 538 | 444 |
Loans to customers | 93 | 71 |
Prepaid expenses | 517 | 410 |
Other receivables | 798 | 702 |
Current trade and other receivable | $ 6,609 | $ 5,330 |
Trade and Other Receivables -_3
Trade and Other Receivables - Schedule of Trade Receivables and Other Receivables (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Net carrying amount [member] | ||
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | $ 4,579 | $ 3,637 |
Loans to customers | 100 | 81 |
Interest receivables | 83 | 67 |
Other receivables | 798 | 702 |
Current trade and other receivable | 5,561 | 4,487 |
Of Which: Neither Impaired Nor Past Due on the Reporting Date [member] | ||
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | 4,375 | 3,418 |
Loans to customers | 84 | 78 |
Interest receivables | 83 | 67 |
Other receivables | 768 | 684 |
Current trade and other receivable | 5,310 | 4,247 |
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 | 137 | 151 |
Loans to customers | 15 | 1 |
Other receivables | 8 | 11 |
Current trade and other receivable | 160 | 162 |
Of Which Not Impaired as of the Reporting Date and Past [member] | Between 30 and 59 Day [member] | ||
Trade and Other Receivables [line items] | ||
Trade receivables and accrued income | 31 | 41 |
Loans to customers | 1 | 1 |
Other receivables | 11 | 4 |
Current trade and other receivable | 43 | 46 |
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 | 29 | 24 |
Loans to customers | 0 | 1 |
Other receivables | 11 | 3 |
Current trade and other receivable | 40 | 28 |
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 | 7 | 4 |
Other receivables | 1 | 0 |
Current trade and other receivable | $ 8 | $ 4 |
Trade and Other Receivables - A
Trade and Other Receivables - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Disclosure of inventories [line items] | |||
Brazilian tax credits and interest receivables | $ 1,247 | $ 1,149 | |
Trade receivables [member] | |||
Disclosure of inventories [line items] | |||
Impairment losses | $ 27 | $ 70 |
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 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | [1] | Dec. 31, 2021 | [1] |
Disclosure of detailed information about borrowings [abstract] | ||||||
Short-term bank deposits | $ 2,145 | $ 4,685 | ||||
Cash and bank accounts | 4,702 | 5,288 | ||||
Cash and cash equivalents | 6,848 | 9,973 | ||||
Bank overdrafts | (53) | (83) | ||||
Cash and cash equivalents in the statement of cash flows | $ 6,794 | $ 9,890 | $ 6,897 | $ 12,043 | ||
[1]The 2022 presentation was amended to conform to the 2023 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 | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about borrowings [abstract] | ||
Investment in unquoted companies | $ 150 | $ 149 |
Investment on debt securities | 29 | 26 |
Non-current investments | 179 | 175 |
Investment on debt securities | 85 | 97 |
Current investments | $ 85 | $ 97 |
Cash and Cash Equivalents and_5
Cash and Cash Equivalents and Investment Securities - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about borrowings [line items] | ||
Restricted cash | $ 74 | $ 73 |
Amounts deposited on a blocked account | 73 | |
Current debt securities | 85 | 97 |
Debt securities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Current debt securities | $ 85 | $ 97 |
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 | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
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 | |
Ordinary shares | 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 | |
Changes during the period | $ 82 | $ 72 |
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 | 282,044,859 | |
At the end of the previous year | 35,500,000 | |
Changes during the period | (3,000,000) | |
At the end of the current year | 32,500,000 | |
Result on the use of treasury shares [member] | ||
Disclosure of classes of share capital [line items] | ||
At the end of the previous year | $ (4,559) | |
Changes during the period | (230) | |
At the end of the current year | (4,789) | |
Treasury shares [member] | ||
Disclosure of classes of share capital [line items] | ||
At the end of the previous year | (3,706) | |
Changes during the period | 312 | $ 184 |
At the end of the current year | $ (3,393) |
Changes in Equity and Earning_4
Changes in Equity and Earnings per Share - Additional Information (Detail) € / shares in Units, $ in Millions | 6 Months Ended | |||||
Apr. 27, 2023 EUR (€) € / shares | Apr. 26, 2023 EUR (€) € / shares | Jun. 30, 2023 USD ($) shares | Jun. 30, 2022 USD ($) shares | Jun. 30, 2023 EUR (€) shares | Dec. 31, 2022 USD ($) | |
Disclosure of classes of share capital [line items] | ||||||
Issued capital | $ | $ 1,736 | $ 1,736 | ||||
Number of shares issued | 1,984,000,000 | 1,981,000,000 | 1,984,000,000 | |||
Dividend declared | € | € 1,004,000,000 | € 1,510,000,000 | ||||
Profit attributable to equity holders | $ | $ 1,977 | $ 1,692 | ||||
Diluted earnings per share based on the profit | $ | $ 1,977 | $ 1,692 | ||||
Number of antidilutive share options outstanding | 50,000,000 | 56,000,000 | 50,000,000 | |||
Dividend payout date | Apr. 27, 2022 | Apr. 26, 2023 | ||||
Dividend Proposed [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Dividend proposed per share | € / shares | € 0.5 | € 0.75 | ||||
Treasury shares [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Restricted shares | 282,044,859 | |||||
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 | |||||
Equity attributable to owners of parent [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Exchange differences on translation of foreign operations (gains/(losses)) | $ | $ 3,610 | |||||
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 | € 1,238,608,344.12 | ||||
Equity shares | 32,467,809 | 32,467,809 | ||||
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 |
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 | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Other comprehensive income/(loss) | ||
Re-measurements of post-employment benefits | $ 3 | $ 1 |
Total comprehensive income/(loss) | 5,538 | 4,208 |
Translation reserves [member] | ||
Disclosure of information about changes in other comprehensive income reserves [line items] | ||
Beginning balance | (34,677) | (33,554) |
Other comprehensive income/(loss) | ||
Exchange differences on translation of foreign operations (gains/(losses)) | 3,610 | 2,101 |
Total comprehensive income/(loss) | 3,610 | 2,101 |
Ending balance | (31,067) | (31,453) |
Hedging reserves [member] | ||
Disclosure of information about changes in other comprehensive income reserves [line items] | ||
Beginning balance | 145 | 481 |
Other comprehensive income/(loss) | ||
Cash flow hedges | (541) | (210) |
Total comprehensive income/(loss) | (541) | (210) |
Ending balance | (396) | 271 |
Post- employment benefits [member] | ||
Disclosure of information about changes in other comprehensive income reserves [line items] | ||
Beginning balance | (1,021) | (1,504) |
Other comprehensive income/(loss) | ||
Re-measurements of post-employment benefits | 3 | |
Total comprehensive income/(loss) | 3 | |
Ending balance | (1,018) | (1,504) |
OCI reserves [member] | ||
Disclosure of information about changes in other comprehensive income reserves [line items] | ||
Beginning balance | (35,553) | (34,577) |
Other comprehensive income/(loss) | ||
Exchange differences on translation of foreign operations (gains/(losses)) | 3,610 | 2,101 |
Cash flow hedges | (541) | (210) |
Re-measurements of post-employment benefits | 3 | |
Total comprehensive income/(loss) | 3,072 | 1,892 |
Ending balance | $ (32,481) | $ (32,685) |
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 | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
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 | 1,984 | 1,981 | |
Effect of stock lending | 30 | 30 | |
Effect of delivery of treasury shares | 2 | 1 | |
Weighted average number of ordinary and restricted shares at 30 June | 2,016 | 2,012 | |
Effect of share options, warrants and restricted stock units | 38 | 35 | |
Weighted average number of ordinary and restricted shares (diluted) at 30 June | 2,054 | 2,047 | |
Profit attributable to equity holders of AB InBev | $ 1,977 | $ 1,692 | [1],[2] |
Net impact of exceptional items on profit (refer to Note 7) | 750 | 1,006 | [1] |
Profit before exceptional items, attributable to equity holders of AB InBev | 2,727 | 2,698 | [1] |
Hyperinflation impacts | 35 | (26) | [1] |
Underlying profit | $ 2,762 | $ 2,672 | [1] |
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 30 June | 2,016 | 2,012 | |
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation.[2]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 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 | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Earnings per share [abstract] | |||
Profit attributable to equity holders of AB InBev | $ 1,977 | $ 1,692 | |
Weighted average number of ordinary and restricted shares | 2,016 | 2,012 | |
Basic EPS | $ 0.98 | $ 0.84 | [1] |
Underlying profit | $ 2,762 | $ 2,672 | [2] |
Weighted average number of ordinary and restricted shares | 2,016 | 2,012 | |
Underlying EPS | $ 1.37 | $ 1.33 | |
Profit attributable to equity holders of AB InBev | $ 1,977 | $ 1,692 | |
Weighted average number of ordinary and restricted shares (diluted) | 2,054 | 2,047 | |
Diluted EPS | $ 0.96 | $ 0.83 | [1] |
[1]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation.[2]As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in exceptional net finance income/(cost). The 2022 presentation was amended to conform to the 2023 presentation. |
Interest-Bearing Loans and Bo_3
Interest-Bearing Loans and Borrowings - Summary of Interest-bearing Loans and Borrowings (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
AB inBev [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest-bearing loans and borrowings | $ 80,847 | $ 79,909 |
Non-Current Liabilities [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Unsecured bond issues | 76,160 | 76,798 |
Lease liabilities | 2,034 | 1,963 |
Unsecured other loans | 105 | 95 |
Secured bank loans | 23 | 24 |
Non-current interest-bearing loans and borrowings | 78,323 | 78,880 |
Current Liabilities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Unsecured bond issues | 1,184 | 0 |
Lease liabilities | 665 | 529 |
Secured bank loans | 463 | 369 |
Unsecured bank loans | 181 | 100 |
Unsecured other loans | 31 | 30 |
Current interest-bearing loans and borrowings | $ 2,524 | $ 1,029 |
Interest-Bearing Loans and Bo_4
Interest-Bearing Loans and Borrowings - Additional Information (Detail) $ in Millions, € in Billions | 6 Months Ended | ||||
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | [1] | Jun. 30, 2023 EUR (€) | Dec. 31, 2022 USD ($) | |
Disclosure of detailed information about borrowings [line items] | |||||
Commercial papers | $ 0 | $ 0 | |||
Commercial papers authorized amount | 5,000 | € 3 | |||
Payments of dividends | 1,923 | $ 1,276 | |||
AB inBev [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Current and non-current interest-bearing loans and borrowings | 80,847 | 79,909 | |||
Net increased decreased debt | 73,800 | $ 69,700 | |||
Payment of interests and taxes | 3,800 | ||||
Impact of changes in foreign exchange rates | 400 | ||||
Payments of dividends | $ 1,900 | ||||
[1]The 2022 presentation was amended to conform to the 2023 presentation. |
Interest-Bearing Loans and Bo_5
Interest-Bearing Loans and Borrowings - Summary of Reconciliation of Net Debt (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of Reconciliation of Net Cash Flow to Movement in Net Debt [Line Items] | ||
Bank overdrafts | $ 53 | $ 83 |
Cash and cash equivalents | (6,848) | (9,973) |
AB inBev [member] | ||
Disclosure of Reconciliation of Net Cash Flow to Movement in Net Debt [Line Items] | ||
Non-current interest-bearing loans and borrowings | 78,323 | 78,880 |
Current interest-bearing loans and borrowings | 2,524 | 1,029 |
Interest-bearing loans and borrowings | 80,847 | 79,909 |
Bank overdrafts | 53 | 83 |
Cash and cash equivalents | (6,848) | (9,973) |
Interest bearing loans granted and other deposits (included within Trade and other receivables) | (184) | (183) |
Debt securities (included within Investment securities) | (114) | (123) |
Net debt | $ 73,755 | $ 69,713 |
Interest-Bearing Loans and Bo_6
Interest-Bearing Loans and Borrowings - Summary of Changes in the Company's Liabilities Arising from Financing Activities (Detail) - USD ($) $ in Millions | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Proceeds from borrowings | $ 181 | $ 68 | [1] | |
Payments on borrowings | (26) | (3,520) | [1] | |
Amortized cost | 99,448 | $ 101,975 | ||
Long-term debt, net of current portion [member] | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Balance beginning | 78,880 | 87,369 | ||
Proceeds from borrowings | 7 | 41 | ||
Payments on borrowings | 0 | (3,218) | ||
Capitalization / (payment) of lease liabilities | 446 | 356 | ||
Amortized cost | 30 | 31 | ||
Unrealized foreign exchange effects | 569 | (2,259) | ||
Current portion of long-term debt | (1,627) | (302) | ||
(Gain)/Loss on bond redemption and other movements | 17 | 99 | ||
Balance ending | 78,323 | 82,117 | ||
Short-term debt and current portion of long-term debt [member] | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Balance beginning | 1,029 | 1,408 | ||
Proceeds from borrowings | 174 | 27 | ||
Payments on borrowings | (26) | (302) | ||
Capitalization / (payment) of lease liabilities | (323) | (247) | ||
Amortized cost | 0 | 0 | ||
Unrealized foreign exchange effects | 40 | (13) | ||
Current portion of long-term debt | 1,627 | 302 | ||
(Gain)/Loss on bond redemption and other movements | 4 | 10 | ||
Balance ending | $ 2,524 | $ 1,185 | ||
[1]The 2022 presentation was amended to conform to the 2023 presentation. |
Share-Based Payments - Addition
Share-Based Payments - Additional Information (Detail) shares in Millions, Unit_pure in Millions, $ in Millions | 6 Months Ended | |
Jun. 30, 2023 USD ($) shares | Jun. 30, 2022 USD ($) shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment transactions expense | $ 286 | $ 237 |
Share-based compensation number of shares issued | shares | 1,984 | 1,981 |
Restricted Stock Units [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based compensation number of shares issued | shares | 1.7 | 4.8 |
Share-based compensation grant date fair value | $ 107 | $ 293 |
Restricted Stock Units [member] | AB inBev [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Stock options granted | 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 Thousands, $ in Millions | 6 Months Ended | |
Jun. 30, 2023 USD ($) shares | Jun. 30, 2022 USD ($) shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of shares issued | 1,984,000 | 1,981,000 |
Long Term Incentive Stock Option Plan [member] | Executive [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based compensation number of shares issued | 100 | |
Share-based compensation grant date fair value | $ | $ 8 | |
Long Term Restricted Stock Unit Program One [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Stock options granted | 11 | 9 |
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 stock options granted | $ | $ 1 | $ 1 |
Long Term Restricted Stock Unit Program Three [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Stock options granted | 0 | 100 |
Fair value of stock options granted | $ | $ 7 | |
Restricted Stock Units [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based compensation grant date fair value | $ | $ 107 | $ 293 |
Number of shares issued | 1,700 | 4,800 |
Restricted Stock Units [member] | Board of Director [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of shares issued | 100 |
Share-Based Payments - Ambev Sh
Share-Based Payments - Ambev Share-Based Payment Programs - Additional Information (Detail) - Restricted Stock Units [member] shares in Millions, $ in Millions | 6 Months Ended | |
Jun. 30, 2023 USD ($) shares | Jun. 30, 2022 USD ($) shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based compensation grant date fair value | $ 107 | $ 293 |
Ambev [member] | 2018 Share-based compensation plan [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based compensation number of shares issued | shares | 6.8 | 19.5 |
Share-based compensation grant date fair value | $ 17 | $ 59 |
Share-Based Payments - Bud Apac
Share-Based Payments - Bud Apac Share-Based Compaensation Program (Detail) $ in Millions | 6 Months Ended | |
Jun. 30, 2023 USD ($) shares | Jun. 30, 2022 USD ($) shares | |
People bet plan [member] | ||
Disclosure Of Share Based Compensation Program [Line Items] | ||
Share-based compensation grant date fair value | shares | 0 | 500,000 |
Share-based compensation grant date fair value | $ | $ 2 | |
Budweiser APAC [Member] | Share-Based Compensation Plan [member] | ||
Disclosure Of Share Based Compensation Program [Line Items] | ||
Share-based compensation grant date fair value | shares | 4,100,000 | 12,500,000 |
Share-based compensation grant date fair value | $ | $ 13 | $ 39 |
Risks Arising From Financial _3
Risks Arising From Financial Instruments - Disclosure of Financial Assets And Liabilities (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at amortized cost | $ 12,908 | $ 14,971 |
Financial assets at fair value through profit or loss | 98 | 139 |
Financial assets at fair value through OCI | 356 | 498 |
Total | 13,362 | 15,608 |
Financial liabilities at amortized cost | 99,448 | 101,975 |
Financial liabilities at fair value through profit or loss | 7,334 | 5,565 |
Financial liabilities at fair value through OCI | 1,098 | 689 |
Total | 107,880 | 108,229 |
Trade and other payables [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 19,754 | 21,983 |
Financial liabilities at fair value through profit or loss | 773 | 762 |
Total | 20,527 | 22,746 |
Non-current interest-bearing loans and borrowings [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 77,117 | 78,880 |
Financial liabilities at fair value through profit or loss | 1,205 | |
Total | 78,323 | 78,880 |
Current interest-bearing loans and borrowings [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 2,524 | 1,029 |
Total | 2,524 | 1,029 |
Bank Overdrafts [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 53 | 83 |
Total | 53 | 83 |
Cross currency interest rate swaps [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through profit or loss | 0 | 16 |
Financial liabilities at fair value through OCI | 150 | 171 |
Total | 150 | 187 |
Foreign Exchange Forward Contracts [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through profit or loss | 8 | 20 |
Financial liabilities at fair value through OCI | 591 | 245 |
Total | 599 | 265 |
Commodity Derivatives [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through OCI | 353 | 271 |
Total | 353 | 271 |
Interest rate swap [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through profit or loss | 3 | 3 |
Financial liabilities at fair value through OCI | 0 | 2 |
Total | 3 | 5 |
Foreign currency futures [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through OCI | 3 | 0 |
Total | 3 | 0 |
Non-current financial liabilities [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 77,504 | 79,108 |
Financial liabilities at fair value through profit or loss | 1,592 | 473 |
Financial liabilities at fair value through OCI | 113 | 168 |
Total | 79,209 | 79,749 |
Current financial liabilities [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at amortized cost | 21,944 | 22,867 |
Financial liabilities at fair value through profit or loss | 5,741 | 5,092 |
Financial liabilities at fair value through OCI | 985 | 521 |
Total | 28,671 | 28,480 |
Cash and cash equivalents [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at amortized cost | 6,848 | 9,973 |
Total | 6,848 | 9,973 |
Trade and other receivables [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at amortized cost | 6,032 | 4,973 |
Total | 6,032 | 4,973 |
Investment securities [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at amortized cost | 29 | 25 |
Financial assets at fair value through profit or loss | 85 | 97 |
Financial assets at fair value through OCI | 150 | 149 |
Total | 264 | 272 |
Equity swaps [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial liabilities at fair value through profit or loss | 5,345 | 4,763 |
Total | 5,345 | 4,763 |
Interest rate swap [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through profit or loss | 4 | 0 |
Financial assets at fair value through OCI | 0 | 0 |
Total | 4 | 0 |
Cross currency interest rate swap [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through profit or loss | 0 | 0 |
Financial assets at fair value through OCI | 46 | 63 |
Total | 46 | 63 |
Foreign Exchange Forward Contracts [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through profit or loss | 10 | 41 |
Financial assets at fair value through OCI | 112 | 182 |
Total | 122 | 223 |
Foreign currency futures [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through OCI | 3 | 4 |
Total | 3 | 4 |
Commodity Derivatives [member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at fair value through OCI | 45 | 101 |
Total | 45 | 101 |
Non-current financial assets [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at amortized cost | 507 | 522 |
Financial assets at fair value through profit or loss | 0 | 15 |
Financial assets at fair value through OCI | 212 | 193 |
Total | 720 | 730 |
Current financial assets [Member] | ||
Disclosure of Financial assets and liabilities [line items] | ||
Financial assets at amortized cost | 12,401 | 14,450 |
Financial assets at fair value through profit or loss | 98 | 124 |
Financial assets at fair value through OCI | 143 | 305 |
Total | $ 12,642 | $ 14,878 |
Risks Arising From Financial _4
Risks Arising From Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | $ 107,880 | $ 108,229 |
Equity swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 5,300 | 4,800 |
Bank Overdrafts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 53 | 83 |
Unobservable Market Inputs - Level 3 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | $ 773 | $ 762 |
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] | ||
Total net carrying amount | $ 100.5 | |
Loss recognized in the profit or loss | $ (703) | |
Reasonable possible volatility rate | 20.26% | 27.53% |
Positive/negative impact on profit before tax | $ 1,158 | $ 1,660 |
Interest Rate Risk [Member] | Interest rate, measurement input [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of reasonably possible increase in unobservable input, liabilities | 1% | |
Interest Rate Risk [Member] | Floating interest rate [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of financial liabilities | $ 3,520 | |
Proportion of company's financial liabilities | 4.40% | |
Higher/lower interest expense | $ 18 | 46 |
Higher/lower interest income | 39 | 93 |
Interest Rate Risk [Member] | Before hedging [Member] | Bank Overdrafts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of financial liabilities | $ 53 | 83 |
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 at 30 June 2023 and no single customer represented more than 10% of the total revenue of the group in 2023. | |
Credit risk [member] | Top of range [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of revenue accounted | 10% | |
Deferred consideration on acquisitions [member] | Put Option [Member] | CERVECERIA NACIONAL DOMINICANA S.A. [member] | Unobservable Market Inputs - Level 3 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Non derivative financial liability | $ 590 | $ 585 |
Risks Arising from Financial _5
Risks Arising from Financial Instruments - Summary of Effective Interest Rates at Balance Sheet (Detail) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | $ (6,453) | $ (5,492) |
Before hedging [Member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 1,885 | 1,730 |
Before hedging [Member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | $ 79,015 | $ 78,261 |
Before hedging [Member] | Canadian Dollar [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 4.51% | 4.50% |
Hedging | $ 623 | $ 613 |
Before hedging [Member] | Chinese Yuan [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 2.57% | 2.44% |
Hedging | $ 48 | $ 50 |
Before hedging [Member] | Euro [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 3.48% | 1.68% |
Hedging | $ 1,068 | $ 1,048 |
Before hedging [Member] | Euro [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 2.27% | 2.27% |
Hedging | $ 20,815 | $ 20,391 |
Before hedging [Member] | Pound Sterling [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 5.13% | 5.13% |
Hedging | $ 2,322 | $ 2,208 |
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 | 5.38% | 2.96% |
Hedging | $ 53 | $ 46 |
Before hedging [Member] | US Dollar [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 5.67% | 5.05% |
Hedging | $ 518 | $ 430 |
Before hedging [Member] | US Dollar [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 4.99% | 4.99% |
Hedging | $ 53,511 | $ 53,478 |
Before hedging [Member] | Brazilian Real [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 9.58% | |
Hedging | $ 26 | |
Before hedging [Member] | Other currency [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 13.64% | 13.39% |
Hedging | $ 273 | $ 252 |
Before hedging [Member] | Other currency [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 9.29% | 10.53% |
Hedging | $ 1,643 | $ 1,476 |
After hedging [Member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 3,520 | 4,557 |
After hedging [Member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | $ 77,380 | $ 75,434 |
After hedging [Member] | Canadian Dollar [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 4.73% | 4.34% |
Hedging | $ 954 | $ 1,455 |
After hedging [Member] | Canadian Dollar [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 4.37% | 4.37% |
Hedging | $ 3,736 | $ 3,741 |
After hedging [Member] | Chinese Yuan [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 2.54% | 2.50% |
Hedging | $ 1,428 | $ 1,230 |
After hedging [Member] | Euro [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 3.48% | 1.68% |
Hedging | $ 1,068 | $ 1,048 |
After hedging [Member] | Euro [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 2.30% | 2.31% |
Hedging | $ 21,699 | $ 21,242 |
After hedging [Member] | Pound Sterling [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 3.70% | |
Hedging | $ 1,078 | |
After hedging [Member] | Pound Sterling [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 5.55% | 5.55% |
Hedging | $ 1,689 | $ 1,607 |
After hedging [Member] | South Korean Won [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 3.08% | |
Hedging | $ 311 | |
After hedging [Member] | South Korean Won [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 1.26% | 0.94% |
Hedging | $ 2,213 | $ 1,896 |
After hedging [Member] | US Dollar [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 5.23% | 5.27% |
Hedging | $ 45,269 | $ 44,547 |
After hedging [Member] | Brazilian Real [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 11.59% | |
Hedging | $ 826 | |
After hedging [Member] | Other currency [member] | Floating interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 13.25% | 11.17% |
Hedging | $ 672 | $ 666 |
After hedging [Member] | Other currency [member] | Fixed interest rate [member] | ||
Disclosure of offsetting financial assets and liabilities [line items] | ||
Hedging | 10.43% | 12.19% |
Hedging | $ 1,346 | $ 1,172 |
Risks Arising from Financial _6
Risks Arising from Financial Instruments - Summary of Carrying Amount of Financial Assets (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Gross carrying amount [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | $ 14,345 | $ 16,434 |
Gross carrying amount [member] | Cash and Cash Equivalent [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 6,848 | 9,973 |
Gross carrying amount [member] | Trade receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 4,964 | 3,980 |
Gross carrying amount [member] | Other receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 1,775 | 1,545 |
Gross carrying amount [member] | Derivatives [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 219 | 391 |
Gross carrying amount [member] | Cash Deposits for Guarantees [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 169 | 189 |
Gross carrying amount [member] | Investment in unquoted companies [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 156 | 155 |
Gross carrying amount [member] | Investment in debt securities [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 114 | 123 |
Gross carrying amount [member] | Loans to customers [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 100 | 81 |
Impairment losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | (466) | (416) |
Impairment losses [member] | Trade receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | (385) | (343) |
Impairment losses [member] | Other receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | (75) | (68) |
Impairment losses [member] | Investment in unquoted companies [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | (5) | (5) |
Net Carrying Amount [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 13,879 | 16,019 |
Net Carrying Amount [member] | Cash and Cash Equivalent [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 6,848 | 9,973 |
Net Carrying Amount [member] | Trade receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 4,579 | 3,637 |
Net Carrying Amount [member] | Other receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 1,701 | 1,477 |
Net Carrying Amount [member] | Derivatives [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 219 | 391 |
Net Carrying Amount [member] | Cash Deposits for Guarantees [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 169 | 189 |
Net Carrying Amount [member] | Investment in unquoted companies [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 150 | 149 |
Net Carrying Amount [member] | Investment in debt securities [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | 114 | 123 |
Net Carrying Amount [member] | Loans to customers [member] | ||
Disclosure of credit risk exposure [line items] | ||
Gross | $ 100 | $ 81 |
Risks Arising from Financial _7
Risks Arising from Financial Instruments - Summary of Allowance for Impairment (Detail) - Impairment losses [member] - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Beginning balance | $ (416) | $ (402) |
Impairment losses | (27) | (38) |
Derecognition | 6 | 24 |
Currency translation and other | (28) | 1 |
Ending balance | $ (466) | $ (416) |
Risks Arising from Financial _8
Risks Arising from Financial Instruments - Summary of Nominal Contractual Maturities of Non-Derivative Financial Liabilities (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 | |
Non-derivative financial liabilities | |||
Bank overdraft | $ (53) | $ (83) | |
Carrying amount [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | [1] | (487) | (393) |
Unsecured bank loans | [1] | (181) | (100) |
Unsecured bond issues | [1] | (77,344) | (76,798) |
Unsecured other loans | [1] | (136) | (125) |
Finance lease liabilities | [1] | (2,699) | (2,492) |
Bank overdraft | [1] | (53) | (83) |
Trade and other payables | [1] | (24,219) | (27,208) |
Non-derivative financial liabilities | [1] | (105,119) | (107,199) |
Derivative financial assets/(liabilities) | |||
Foreign exchange derivatives | [1] | (602) | (265) |
Cross currency interest rate swaps | [1] | (153) | (192) |
Commodity derivatives | [1] | (353) | (271) |
Equity derivatives | [1] | (5,345) | (4,763) |
Derivative financial assets/(liabilities) | [1] | (6,453) | (5,492) |
Of which: related to cash flow hedges | [1] | (961) | (551) |
Contractual cash flows [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | (497) | (405) | |
Unsecured bank loans | (181) | (100) | |
Unsecured bond issues | (132,501) | (133,670) | |
Unsecured other loans | (209) | (193) | |
Finance lease liabilities | (3,149) | (2,840) | |
Bank overdraft | (53) | (83) | |
Trade and other payables | (24,507) | (27,453) | |
Non-derivative financial liabilities | (161,097) | (164,745) | |
Derivative financial assets/(liabilities) | |||
Foreign exchange derivatives | (602) | (265) | |
Cross currency interest rate swaps | (153) | (191) | |
Commodity derivatives | (353) | (251) | |
Equity derivatives | (5,345) | (4,763) | |
Derivative financial assets/(liabilities) | (6,453) | (5,471) | |
Of which: related to cash flow hedges | (961) | (530) | |
Contractual cash flows [member] | Less than 1 year [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | (466) | (371) | |
Unsecured bank loans | (181) | (100) | |
Unsecured bond issues | (4,496) | (3,273) | |
Unsecured other loans | (36) | (34) | |
Finance lease liabilities | (781) | (618) | |
Bank overdraft | (53) | (83) | |
Trade and other payables | (23,388) | (26,376) | |
Non-derivative financial liabilities | (29,400) | (30,856) | |
Derivative financial assets/(liabilities) | |||
Foreign exchange derivatives | (602) | (265) | |
Cross currency interest rate swaps | (9) | (9) | |
Commodity derivatives | (353) | (249) | |
Equity derivatives | (5,345) | (4,763) | |
Derivative financial assets/(liabilities) | (6,308) | (5,287) | |
Of which: related to cash flow hedges | (907) | (469) | |
Contractual cash flows [member] | 1-2 years [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | (5) | (5) | |
Unsecured bank loans | 0 | ||
Unsecured bond issues | (4,575) | (5,683) | |
Unsecured other loans | (88) | (78) | |
Finance lease liabilities | (580) | (566) | |
Trade and other payables | (263) | (170) | |
Non-derivative financial liabilities | (5,512) | (6,501) | |
Derivative financial assets/(liabilities) | |||
Cross currency interest rate swaps | (41) | (43) | |
Commodity derivatives | 0 | (2) | |
Equity derivatives | 0 | 0 | |
Derivative financial assets/(liabilities) | (41) | (45) | |
Of which: related to cash flow hedges | 0 | 0 | |
Contractual cash flows [member] | 2-3 years [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | (5) | (5) | |
Unsecured bank loans | 0 | ||
Unsecured bond issues | (8,393) | (3,783) | |
Unsecured other loans | (33) | (28) | |
Finance lease liabilities | (452) | (414) | |
Trade and other payables | (197) | (349) | |
Non-derivative financial liabilities | (9,079) | (4,579) | |
Derivative financial assets/(liabilities) | |||
Cross currency interest rate swaps | (57) | (47) | |
Derivative financial assets/(liabilities) | (57) | (47) | |
Of which: related to cash flow hedges | (33) | (43) | |
Contractual cash flows [member] | 3-5 years [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | (10) | (10) | |
Unsecured bond issues | (16,859) | (15,482) | |
Unsecured other loans | (24) | (31) | |
Finance lease liabilities | (561) | (531) | |
Trade and other payables | (312) | (260) | |
Non-derivative financial liabilities | (17,767) | (16,313) | |
Derivative financial assets/(liabilities) | |||
Cross currency interest rate swaps | (47) | (62) | |
Derivative financial assets/(liabilities) | (47) | (62) | |
Of which: related to cash flow hedges | (20) | (17) | |
Contractual cash flows [member] | Greater than 5 years [member] | |||
Non-derivative financial liabilities | |||
Secured bank loans | (10) | (14) | |
Unsecured bond issues | (98,177) | (105,450) | |
Unsecured other loans | (27) | (23) | |
Finance lease liabilities | (776) | (712) | |
Trade and other payables | (348) | (297) | |
Non-derivative financial liabilities | (99,339) | (106,496) | |
Derivative financial assets/(liabilities) | |||
Cross currency interest rate swaps | 0 | (30) | |
Derivative financial assets/(liabilities) | 0 | $ (30) | |
Of which: related to cash flow hedges | $ 0 | ||
[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 _9
Risks Arising from Financial Instruments - Summary for Each Type of Derivative Fair Value Recognized as Assets and Liabilities (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Assets | $ 219 | $ 391 |
Liabilities | (6,453) | (5,492) |
Net | (6,234) | (5,101) |
Non-current, Assets | 62 | 60 |
Non-current, Liabilities | (113) | (184) |
Non-current, Net | (50) | (124) |
Current, Assets | 157 | 331 |
Current, Liabilities | (6,340) | (5,308) |
Current derivative financial assets liabilities, net, Total | (6,184) | (4,977) |
Foreign exchange forwards [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 122 | 223 |
Liabilities | (599) | (265) |
Net | (477) | (42) |
Foreign currency futures [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 3 | 4 |
Liabilities | (3) | 0 |
Net | 0 | 4 |
Interest rate swap [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 4 | 0 |
Liabilities | (3) | (5) |
Net | 1 | (5) |
Cross currency interest rate swap [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 46 | 63 |
Liabilities | (150) | (187) |
Net | (104) | (124) |
Aluminum swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 6 | 52 |
Liabilities | (181) | (174) |
Net | (175) | (122) |
Sugar futures commodity contract [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 19 | 4 |
Liabilities | 0 | 0 |
Net | 19 | 4 |
Energy futures commodity contract [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 5 | 12 |
Liabilities | (49) | (28) |
Net | (44) | (16) |
Other commodity contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 15 | 32 |
Liabilities | (123) | (69) |
Net | (109) | (37) |
Equity derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 0 | 0 |
Liabilities | (5,345) | (4,763) |
Net | $ (5,345) | $ (4,763) |
Risks Arising from Financial_10
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 | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | $ (76,315) | $ (75,769) |
Fair value | (75,624) | (73,008) |
US Dollar [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (53,029) | (52,993) |
Fair value | (53,976) | (52,158) |
Euro [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (20,032) | (19,655) |
Fair value | (18,637) | (17,926) |
Pound Sterling [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (2,263) | (2,148) |
Fair value | (2,078) | (2,039) |
Canadian Dollar [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (525) | (515) |
Fair value | (478) | (437) |
Other currency [member] | ||
Disclosure of interest bearing financial instruments [line items] | ||
Carrying amount | (465) | (458) |
Fair value | $ (456) | $ (448) |
Risks Arising from Financial_11
Risks Arising from Financial Instruments - Analysis of Financial Instruments (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | $ 13,362 | $ 15,608 |
Financial Liabilities | 107,880 | 108,229 |
Quoted (unadjusted) prices- level 1 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 45 | 36 |
Financial Liabilities | 34 | 26 |
Quoted (unadjusted) prices- level 1 [member] | Derivative liabilities [member] | Cash flow hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 34 | 26 |
Quoted (unadjusted) prices- level 1 [member] | Derivatives [member] | Cash flow hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 45 | 36 |
Observable market inputs - level 2 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 183 | 364 |
Financial Liabilities | 6,419 | 5,466 |
Observable market inputs - level 2 [member] | Derivative liabilities [member] | Cash flow hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 927 | 525 |
Observable market inputs - level 2 [member] | Derivative liabilities [member] | Fair value hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 3 | 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 | 136 | 138 |
Observable market inputs - level 2 [member] | Derivative liabilities [member] | Deferred consideration on acquisitions [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 0 | |
Observable market inputs - level 2 [member] | Derivative liabilities [member] | Derivatives at fair value through profit and loss [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 5,352 | 4,799 |
Observable market inputs - level 2 [member] | Non derivative financial assets [member] | Held for trading (non-derivatives) [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 | 10 | 41 |
Observable market inputs - level 2 [member] | Derivatives [member] | Cash flow hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 86 | 219 |
Observable market inputs - level 2 [member] | Derivatives [member] | Fair value hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 4 | |
Observable market inputs - level 2 [member] | Derivatives [member] | Net investment hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 74 | 94 |
Unobservable Market Inputs - Level 3 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 773 | 762 |
Unobservable Market Inputs - Level 3 [member] | Derivative liabilities [member] | Deferred consideration on acquisitions [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | $ 773 | $ 762 |
Collateral and Contractual Co_2
Collateral and Contractual Commitments for the Acquisition of Property, Plant and Equipment, Loans to Customers and Other - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of collateral and contractual commitments [line items] | ||
Commitments to purchase property plant and equipment | $ 1,030 | $ 538 |
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 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about material tax [line items] | ||
Income tax and social contribution | $ 11,322 | $ 11,586 |
Value-added and excise taxes | 5,576 | 4,965 |
Other taxes | 923 | 854 |
Material tax net | $ 17,821 | $ 17,405 |
Contingencies - Additional Info
Contingencies - Additional Information (Detail) € in Millions, R$ in Millions, $ in Millions, ر.س in Billions, Tsh in Billions, R in Billions, $ in Billions | 6 Months Ended | |||||||||
Jun. 30, 2023 USD ($) shares | Jun. 30, 2023 BRL (R$) shares | Jun. 30, 2023 TZS (Tsh) shares | Jun. 30, 2023 SAR (ر.س) shares | Jun. 30, 2023 AUD ($) shares | Jun. 30, 2023 ZAR (R) shares | Jun. 30, 2023 EUR (€) shares | Jun. 30, 2022 shares | Jan. 24, 2019 USD ($) | Jan. 24, 2019 EUR (€) | |
Disclosure of detailed information about material tax [line items] | ||||||||||
Number of shares issued | 1,984,000,000 | 1,984,000,000 | 1,984,000,000 | 1,984,000,000 | 1,984,000,000 | 1,984,000,000 | 1,984,000,000 | 1,981,000,000 | ||
Tax Loss Offset [Member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Estimate of possible loss | $ 100 | R$ 600 | ||||||||
Disallowance Of Tax Paid Abroad [Member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Estimate of possible loss | 2,700 | 13,100 | ||||||||
Deductibility Of IOC Expenses [Member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Estimate of possible loss | 3,000 | R$ 14500 | ||||||||
AB INBEVS SOUTH AFRICA TAX MATTERS [Member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Contingent liabilities | 400 | ر.س 6.4 | ||||||||
Additional liability towards taxes and interest one | 1,000 | $ 17.7 | ||||||||
Ambev [member] | IPI excise tax [member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Estimate of possible loss | $ | $ 400 | |||||||||
Ambev [member] | Legal proceedings contingent liability [member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Number of shares issued | 172,831,574 | 172,831,574 | 172,831,574 | 172,831,574 | 172,831,574 | 172,831,574 | 172,831,574 | |||
Percentage of shares issued diluted | 1% | |||||||||
Ambev [member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Estimate of possible loss | $ 1,300 | R$ 6200 | ||||||||
Ambev [member] | IPI excise tax [member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Estimate of possible loss | R$ | 1,800 | |||||||||
Arosuco [member] | Disallowance Of Tax Paid Abroad [Member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Estimate of possible loss | $ 500 | 2,500 | ||||||||
Cerbuco Brewing Inc [Member] | Cerveceria Bucanero S.A [Member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Percentage 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 | 6,600 | ||||||||
Tax Assessment During 2005 [member] | Ambev [member] | In Bev Holding Brasil SA [member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Provisions recorded | 12 | 60 | ||||||||
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 | 100 | 300 | ||||||||
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 | 300 | 1,300 | ||||||||
Tax assessment in October 2013 [member] | Ambev [member] | In Bev Holding Brasil SA [member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Estimate of possible loss | 2,200 | 10,700 | ||||||||
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 | 500 | 2,300 | ||||||||
Tax Assessment in December 2015 [member] | Ambev [member] | Integration program social security financing levy [member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Estimate of possible loss | 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 | R$ 600 | ||||||||
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% | 50% | |||
SOUTH AFRICA | THE SOUTH AFRICAN BREWERIES (PTY) LTD [member] | AB INBEVS SOUTH AFRICA TAX MATTERS [Member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Estimated financial effect of contingent liabilities | $ 500 | R 8.9 | ||||||||
ICMS tax credits for Sao Paulo, Rio de Janeiro and Minas Gerais [member] | Ambev [member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Estimate of possible loss | 400 | R$ 1700 | ||||||||
ICMS tax credits for Rio Grande 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 | 200 | 800 | ||||||||
ICMS-ST Trigger [member] | Ambev [member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Estimate of possible loss | 2,100 | R$ 10000 | ||||||||
Blocked account [member] | ||||||||||
Disclosure of detailed information about material tax [line items] | ||||||||||
Provisions recorded | $ 73 | € 68 | ||||||||
Deposits | $ 73 | € 68 |