XML 65 R54.htm IDEA: XBRL DOCUMENT

Supplemental guarantor financial information (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Condensed Consolidated Income Statement

CONDENSED CONSOLIDATING INCOME STATEMEN


For the six month period ended 30 June 2020 Million US dollar	Anheuser- Busch InBev SA/NV			Anheuser- Busch InBev Worldwide Inc.			Anheuser- Busch InBev Finance Inc.			Anheuser- Busch Companies, LLC			Subsidiary Guarantors			Non-Guarantors			Eliminations			Total
Revenue		236			—			—			6 904			—			14 727			(569	)		21 298
Cost of sales		(166	)		—			—			(2 890	)		—			(6 610	)		569			(9 097	)

Gross profit		70			—			—			4 014			—			8 117			—			12 201

Distribution expenses		(13	)		—			—			(524	)		—			(1 864	)		—			(2 401	)
Sales and marketing expenses		(57	)		—			—			(991	)		—			(2 230	)		—			(3 278	)
Administrative expenses		(73	)		—			—			(254	)		(13	)		(1 238	)		—			(1 578	)
Other operating income/(expenses)		209			600			—			(892	)		367			(2 922	)		—			(2 638	)

Profit from operations		136			600			—			1 353			354			(137	)		—			2 306

Net finance income/(cost)		(189	)		(860	)		6			532			(258	)		(4 822	)		—			(5 592	)

Share of result of associates and joint ventures		—			—			—			(1	)		—			34			—			33
Profit before tax		(53	)		(260	)		6			1 884			96			(4 925	)		—			(3 253	)
Income tax expense		—			199			(1	)		(288	)		—			(402	)		—			(492	)
Profit		(53	)		(60	)		5			1 596			96			(5 327	)		—			(3 744	)
Income from subsidiaries		(1 847	)		1 390			—			(10	)		(570	)		1 330			(294	)		0
Profit from continuing operations		(1 900	)		1 330			5			1 586			(474	)		(3 997	)		(294	)		(3 744	)
Profit from discontinued operations		—			—			—			—			—			2 055			—			2 055
Profit of the year		(1 900	)		1 330			5			1 586			(474	)		(1 942	)		(294	)		(1 688	)
Profit from continuing operations attributable to:
Equity holders of AB InBev		(1 900	)		1 330			5			1 586			(474	)		(4 208	)		(294	)		(3 955	)
Non-controlling interest		—			—			—			—			—			211			—			211
Profit of the period attributable to:
Equity holders of AB InBev		(1 900	)		1 330			5			1 586			(474	)		(2 153	)		(294	)		(1 900	)
Non-controlling interest		—			—			—			—			—			211			—			211


For the six month period ended 30 June 2019 Million US dollar Restated	Anheuser- Busch InBev SA/NV			Anheuser- Busch InBev Worldwide Inc.			Anheuser- Busch InBev Finance Inc.			Anheuser- Busch Companies, LLC			Subsidiary Guarantors			Non-Guarantors			Eliminations			Total
Revenue		304			—			—			7 823			—			19 005			(1 310	)		25 823
Cost of sales		(207	)		—			—			(3 685	)		—			(7 371	)		1 310			(9 953	)

Gross profit		97			—			—			4 138			—			11 634			—			15 869

Distribution expenses		(15	)		—			—			(557	)		—			(2 137	)		—			(2 709	)
Sales and marketing expenses		(77	)		—			—			(1 005	)		—			(2 449	)		—			(3 531	)
Administrative expenses		(153	)		—			—			(334	)		12			(1 361	)		—			(1 837	)
Other operating income/(expenses)		125			538			—			(583	)		(1	)		206			—			285

Profit from operations		(23	)		538			—			1 659			11			5 893			—			8 077

Net finance income/(cost)		(264	)		(1 033	)		84			(484	)		103			1 425			—			(169	)

Share of result of associates and joint ventures		—			—			—			(3	)		—			65			—			62
Profit before tax		(287	)		(495	)		84			1 172			114			7 383			—			7 970
Income tax expense		—			102			(6	)		(373	)		(2	)		(1 286	)		—			(1 565	)
Profit		(287	)		(393	)		78			799			112			6 097			—			6 406
Income from subsidiaries		6 342			418			—			216			528			4 017			(11 519	)		—
Profit from continuing operations		6 055			25			78			1 015			640			10 114			(11 519	)		6 406
Profit from discontinued operations		—			—			—			—			—			236			—			236
Profit of the year		6 055			25			78			1 015			640			10 350			(11 519	)		6 642
Profit from continuing operations attributable to:
Equity holders of AB InBev		6 055			25			78			1 015			640			9 527			(11 519	)		5 819
Non-controlling interest		—			—			—			—			—			587			—			587
Profit of the period attributable to:
Equity holders of AB InBev		6 055			25			78			1 015			640			9 763			(11 519	)		6 055
Non-controlling interest		—			—			—			—			—			587			—			587

Schedule of Condensed Consolidated Statement of Financial Position

CONDENSED CONSOLIDATING STATEMENT OF FINANCIAL POSITIO


As at 30 June 202 0 Million US dollar	Anheuser- Busch InBev SA/NV		Anheuser- Busch InBev Worldwide Inc.		Anheuser- Busch InBev Finance Inc.		Anheuser- Busch Companies, LLC		Subsidiary Guarantors		Non-Guarantors		Eliminations			Total
ASSETS
Non-current assets
Property, plant and equipment		41		—		—		4 915		—		19 762		—			24 718
Goodwill		545		—		—		33 134		—		81 401		—			115 080
Intangible assets		382		—		—		22 202		97		17 368		—			40 049
Investments in subsidiaries		113 184		73 435		—		66 085		17 698		208 343		(478 746	)		—
Investments in associates and joint ventures		—		—		—		22		—		5 766		—			5 788
Deferred tax assets		—		161		—		—		—		1 797		—			1 958
Derivatives		—		—		—		—		264		33		—			297
Other non-current assets		13 391		11 681		13 442		3 925		9 065		56 262		(106 423	)		1 343

		127 543		85 277		13 442		130 283		27 124		390 732		(585 169	)		189 233

Current assets
Investment securities		—		—		—		—		—		102		—			102
Inventories		—		—		—		903		—		3 436		—			4 339
Derivatives		349		72		—		2 232		6 947		269		(9 324	)		545
Trade and other receivables		2 916		4 490		1 176		2 339		5 133		28 978		(39 754	)		5 276
Cash and cash equivalents		17 236		6 194		6		234		7 716		7 304		(13 672	)		25 018
Assets classified as held for sale		—		—		—		—		—		128		—			128
Other current assets		11		203		—		—		3		588		—			805

		20 512		10 959		1 182		5 708		19 799		40 805		(62 750	)		36 215

Total assets		148 055		96 236		14 624		135 991		46 923		431 537		(647 919	)		225 448

EQUITY AND LIABILITIES
Equity
Equity attributable to equity holders of AB InBev		60 065		47 434		628		72 408		25 324		332 953		(478 746	)		60 065
Minority interests		—		—		—		—		—		8 282		—			8 282

		60 065		47 434		628		72 408		25 324		341 235		(478 746	)		68 347
Non-current liabilities
Interest-bearing loans and borrowings		62 929		43 036		13 466		42 248		3 094		47 806		(106 545	)		106 034
Employee benefits		3		—		—		1 056		—		1 551		—			2 610
Deferred tax liabilities		—		—		8		6 751		—		5 301		—			12 060
Derivatives		—		—		—		—		2 460		—		—			2 460
Other non-current liabilities		58		—		—		389		—		2 471		—			2 917

		62 989		43 036		13 475		50 444		5 554		57 128		(106 545	)		126 081

Current liabilities
Interest-bearing loans and borrowings		16 155		5 032		311		8 050		6 165		7 974		(37 203	)		6 484
Income tax payables		—		—		—		353		—		556		—			909
Derivatives		48		—		—		116		4 625		8 938		(9 324	)		4 403
Trade and other payables		865		733		211		4 554		172		14 748		(2 428	)		18 857
Other current liabilities		7 932		—		—		65		5 084		958		(13 672	)		367

		25 000		5 766		522		13 139		16 044		33 175		(62 627	)		31 020

Total equity and liabilitie s		148 055		96 236		14 624		135 991		46 923		431 537		(647 919	)		225 448


As at 31 December 201 9 Million US dollar	Anheuser- Busch InBev SA/NV		Anheuser- Busch InBev Worldwide Inc.		Anheuser- Busch InBev Finance Inc.		Anheuser- Busch Companies, LLC		Subsidiary Guarantors		Non-Guarantors		Eliminations			Total
ASSETS
Non-current assets
Property, plant and equipment		36		—		—		5 063		—		22 445		—			27 544
Goodwill		—		—		—		33 157		—		94 957		—			128 114
Intangible assets		409		—		—		22 195		97		19 751		—			42 452
Investments in subsidiaries		128 860		77 492		—		42 557		17 955		183 831		(450 696	)		—
Investments in associates and joint venture s		—		—		—		22		—		5 839		—			5 861
Deferred tax assets		—		163		—		—		—		1 556		—			1 719
Derivatives		—		—		—		—		113		19		—			132
Other non-current assets		13 930		11 681		13 853		14 495		13 483		43 495		(108 925	)		2 012

		143 235		89 336		13 853		117 489		31 648		371 893		(559 621	)		207 834

Current assets
Investment securities		—		—		—		—		—		92		—			92
Inventories		—		—		—		822		—		3 605		—			4 427
Derivatives		188		—		—		22		3 909		105		(3 994	)		230
Trade and other receivables		4 152		10 163		846		7 331		113		13 139		(29 557	)		6 187
Cash and cash equivalents		79		22		18		348		12 697		7 825		(13 751	)		7 238
Assets classified as held for sale		236		—		—		—		—		9 777		—			10 013
Other current assets		8		198		2		—		5		414		—			627

		4 663		10 383		866		8 523		16 724		34 957		(47 302	)		28 814

Total assets		147 898		99 719		14 719		126 012		48 372		406 850		(606 922	)		236 648

EQUITY AND LIABILITIES
Equity
Equity attributable to equity holders of AB InBev		75 722		46 188		622		77 567		25 359		300 959		(450 696	)		75 722
Minority interests		—		—		—		—		—		8 831		—			8 831

		75 722		46 188		622		77 567		25 359		309 790		(450 696	)		84 553

Non-current liabilities
Interest-bearing loans and borrowings		59 605		49 310		13 874		28 313		3 586		51 690		(108 814	)		97 564
Employee benefits		5		—		—		1 067		—		1 776		—			2 848
Deferred tax liabilities		—		—		9		6 772		—		6 043		—			12 824
Derivatives		—		—		—		—		352		—		—			352
Other non-current liabilities		60		—		—		543		—		3 063		—			3 666

		59 670		49 310		13 883		36 695		3 938		62 572		(108 814	)		117 254

Current liabilities
Interest-bearing loans and borrowings		3 651		3 633		—		7 302		9 775		8 701		(27 652	)		5 410
Income tax payables		—		—		—		237		—		1 109		—			1 346
Derivatives		198		—		—		49		3 875		3 671		(3 994	)		3 799
Trade and other payables		1 071		588		214		4 153		75		18 778		(2 015	)		22 864
Liabilities associated with assets held for sal e		—		—		—		—		—		1 145		—			1 145
Other current liabilities		7 586		—		—		9		5 350		1 084		(13 752	)		277

		12 506		4 221		214		11 750		19 075		34 488		(47 413	)		34 841

Total equity and liabilitie s		147 898		99 719		14 719		126 012		48 372		406 850		(606 922	)		236 648

Schedule of Condensed Consolidated Statement of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS


For the six-month period ended 30 Jun e 2020 Million US dollar	Anheuser- Busch InBev SA/NV			Anheuser- Busch InBev Worldwide Inc.			Anheuser- Busch InBev Finance Inc.			Anheuser- Busch Companies, LLC			Subsidiary Guarantors			Non-Guarantors			Eliminations			Total
OPERATING ACTIVITIES
Profit from continuing operations		(1 900	)		1 330			5			1 586			(474	)		(3 997	)		(294	)		(3 744	)
Depreciation, amortization and impairment		95			—			—			394			—			1 913			—			2 402
Impairment losses on goodwill		—			—			—			—			—			2 500			—			2 500
Net finance cost/(income)		189			860			(6	)		(533	)		259			4 823			—			5 592
Income tax expense		—			(199	)		1			288			—			402			—			492
Investment income		1 846			(1 390	)		—			10			570			(1 330	)		294			—
Other items		99			—			—			130			(368	)		317			—			178
Cash flow from operating activities before changes in working capital and use of provisions		329			601			—			1 875			(13	)		4 628			—			7 420
Working capital and provisions		10			296			—			(228	)		12			(3 117	)		—			(3 027	)
Cash generated from operations		339			897			—			1 647			(1	)		1 511			—			4 393
Interest paid, net		(506	)		(1 234	)		10			1 443			122			(1 866	)		—			(2 031	)
Dividends received		—			5 292			—			1 339			—			352			(6 953	)		30
Income tax paid		—			—			—			(45	)		3			(1 315	)		—			(1 357	)
Cash flow from operating activities on Australia discontinued operations		—			—			—			—			—			84			—			84
CASH FLOW FROM OPERATING ACTIVITIES		(167	)		4 955			10			4 384			124			(1 234	)		(6 953	)		1 119
INVESTING ACTIVITIES
Acquisition of property, plant and equipment and of intangible assets		(97	)		—			—			(185	)		—			(1 298	)		—			(1 580	)
Proceeds from sale of property, plant and equipment and of intangible assets		—			—			—			—			—			56			—			56
Acquisition of subsidiaries, net of cash		—			—			—			(4	)		—			(200	)		—			(204	)
Proceeds from Australia divestiture		—			—			—			—			149			10 689			—			10 838
Net proceeds from sale/(acquisition) of other assets		13 797			8 981			(22	)		13 875			(3 036	)		(30 791	)		(2 834	)		(30	)
Cash flow from investing activities on Australia discontinued operations		—			—			—			—			—			(13	)		—			(13	)
CASH FLOW FROM INVESTING ACTIVITIES		13 700			8 981			(22	)		13 686			(2 887	)		(21 557	)		(2 834	)		9 067
FINANCING ACTIVITIES
Intra-group capital reimbursements		—			—			—			(25 449	)		—			25 449			—			—
Proceeds from borrowings		7 471			6 226			—			14 504			1 256			14 518			(29 453	)		14 522
Payments on borrowings		(3 278	)		(13 992	)		—			(8	)		(2 365	)		(16 972	)		32 287			(4 328	)
Cash net finance (cost)/income other than interests		383			—			—			(2 031	)		(1 052	)		2 243			—			(457	)
Payment of lease liabilities		—			—			—			(26	)		—			(254	)		—			(280	)
Dividends paid		(1 129	)		—			—			(5 275	)		—			(1 768	)		6 953			(1 219	)
Cash flow from financing activities on Australia discontinued operations		—			—			—			—			—			(6	)		—			(6	)
CASH FLOW FROM FINANCING ACTIVITIES		3 447			(7 766	)		—			(18 285	)		(2 161	)		23 209			9 787			8 231
Net increase/(decrease) in cash and cash equivalents on continu ing operations		16 980			6 170			(12	)		(215	)		(4 924	)		417			—			18 416
Cash and cash equivalents less bank overdrafts at beginning of year		(7 503	)		24			18			345			7 348			6 937			—			7 169
Effect of exchange rate fluctuations		(170	)		—			—			39			209			(798	)		—			(720	)
Cash and cash equivalents less bank overdrafts at end of year		9 307			6 194			6			169			2 633			6 556			—			24 865


For the six-month period ended 30 Jun e 2019 Million US dollar Restated	Anheuser- Busch InBev SA/NV			Anheuser- Busch InBev Worldwide Inc.			Anheuser- Busch InBev Finance Inc.			Anheuser- Busch Companies, LLC			Subsidiary Guarantors			Non-Guarantors			Eliminations			Total
OPERATING ACTIVITIES
Profit from continuing operations		6 055			25			78			1 015			640			10 114			(11 519	)		6 406
Depreciation, amortization and impairment		84			—			—			395			—			1 786			—			2 265
Net finance cost/(income)		264			1 033			(84	)		484			(103	)		(1 425	)		—			169
Income tax expense		—			(102	)		6			373			2			1 286			—			1 565
Investment income		(6 342	)		(418	)		—			(216	)		(528	)		(4 017	)		11 519			—
Other items		70			—			—			62			1			(153	)		—			(20	)
Cash flow from operating activities before changes in working capital and use of provisions		131			538			—			2 113			12			7 591			—			10 385
Working capital and provisions		7			809			—			(705	)		(13	)		(1 822	)		(86	)		(1 810	)
Cash generated from operations		138			1 347			—			1 408			(1	)		5 769			(86	)		8 575
Interest paid, net		(385	)		(1 314	)		13			(174	)		(88	)		(251	)		37			(2 162	)
Dividends received		5 049			—			—			280			—			425			(5 617	)		137
Income tax paid		—			—			(1	)		(294	)		(4	)		(1 668	)		—			(1 967	)
Cash flow from operating activities on Australia discontinued operations		—			—			—			—			—			314			—			314
CASH FLOW FROM OPERATING ACTIVITIES		4 802			33			12			1 220			(93	)		4 589			(5 666	)		4 897
INVESTING ACTIVITIES
Acquisition of property, plant and equipment and of intangible assets		(88	)		—			—			(161	)		—			(1 461	)		—			(1 710	)
Proceeds from sale of property, plant and equipment and of intangible assets		2			—			—			33			—			187			—			222
Acquisition of subsidiaries, net of cash		—			—			—			—			3			(340	)		—			(337	)
Sale of subsidiaries, net of cash disposed of		—			—			—			6			—			86			—			92
Net proceeds from sale/(acquisition) of other assets		1 652			(5 252	)		8 079			6 092			8 487			19 845			(38 909	)		(6	)
Cash flow from investing activities on Australia discontinued operations		—			—			—			—			—			(16	)		—			(16	)
CASH FLOW FROM INVESTING ACTIVITIES		1 566			(5 252	)		8 079			5 970			8 490			18 301			(38 909	)		(1 755	)
FINANCING ACTIVITIES
Intra-group capital reimbursements		—			—			—			(267	)		—			267			—			—
Proceeds from borrowings		3 237			17 820			—			5 184			2 179			916			(7 324	)		22 012
Payments on borrowings		(9 119	)		(12 569	)		(8 028	)		(11 977	)		(2 235	)		(22 996	)		46 322			(20 602	)
Cash net finance (cost)/income other than interests		(274	)		(36	)		—			66			(34	)		(458	)		(45	)		(781	)
Payment of lease liabilities		—			—			—			(39	)		—			(186	)		—			(225	)
Dividends paid		(2 266	)		—			—			(286	)		(5 049	)		(405	)		5 617			(2 389	)
Cash flow from financing activities on Australia discontinued operations		—			—			—			—			—			(13	)		—			(13	)
CASH FLOW FROM FINANCING ACTIVITIES		(8 422	)		5 215			(8 028	)		(7 319	)		(5 139	)		(22 875	)		44 570			(1 998	)
Net increase/(decrease) in cash and cash equivalents on continuing operations		(2 054	)		(4	)		63			(129	)		3 258			15			(5	)		1 144
Cash and cash equivalents less bank overdrafts at beginning of year		(5 445	)		4			29			583			3 486			8 303			—			6 960
Effect of exchange rate fluctuations		(121	)		—			—			—			126			(40	)		8			(29	)
Cash and cash equivalents less bank overdrafts at end of yea r		(7 620	)		1			92			455			6 870			8 278			3			8 075