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Investments in associates | 12 Months Ended
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Dec. 31, 2021
Investments accounted for using equity method [abstract] |
Investments in associates |
16. | Investments in associates
A reconciliation of the summarized financial information to the carrying amount of the company’s interests in material associates is as follows:
|  | 2021 |  |  | 2020 |
Million US dollar |  | AB InBev Efes |  |  | Castel |  |  | Efes |  |  | AB InBev Efes |  |  | Castel |  |  | Efes |
Balance at 1 January |  |  | 1 135 |  |  |  | 3 566 |  |  |  | 391 |  |  |  | 1 132 |  |  |  | 3 239 |  |  |  | 451 |
Effect of movements in foreign exchange |  |  | — |  |  |  | (246 | ) |  |  | (159 | ) |  |  | — |  |  |  | 270 |  |  |  | (92 | )
Dividends received |  |  | — |  |  |  | (36 | ) |  |  | (67 | ) |  |  | — |  |  |  | (19 | ) |  |  | — |
Share of results of associates |  |  | 7 |  |  |  | 116 |  |  |  | 35 |  |  |  | 3 |  |  |  | 76 |  |  |  | 32 |
Balance at 31 December |  |  | 1 143 |  |  |  | 3 400 |  |  |  | 201 |  |  |  | 1 135 |  |  |  | 3 566 |  |  |  | 391 |
Summarized financial information of the company’s material associates is as follows:
|  | 2021 |  |  | 2020 |
Million US dollar |  | AB InBev Efes |  |  | Castel |  |  | Efes |  |  | AB InBev Efes |  |  | Castel |  |  | Efes |
Current assets |  |  | 385 |  |  |  | 3 016 |  |  |  | 1 500 |  |  |  | 351 |  |  |  | 4 048 |  |  |  | 2 156 |
Non-current assets |  |  | 624 |  |  |  | 3 923 |  |  |  | 3 157 |  |  |  | 603 |  |  |  | 3 775 |  |  |  | 4 642 |
Current liabilities |  |  | (693 | ) |  |  | (1 774 | ) |  |  | (1 259 | ) |  |  | (591 | ) |  |  | (1 531 | ) |  |  | (1 639 | )
Non-current liabilities |  |  | (42 | ) |  |  | (499 | ) |  |  | (1 218 | ) |  |  | (75 | ) |  |  | (671 | ) |  |  | (1 852 | )
Non-controlling interests |  |  | — |  |  |  | (543 | ) |  |  | (1 128 | ) |  |  | — |  |  |  | (687 | ) |  |  | (1 627 | )
Net assets 1 |  |  | 274 |  |  |  | 4 124 |  |  |  | 1 053 |  |  |  | 288 |  |  |  | 4 934 |  |  |  | 1 679 |
Revenue |  |  | 1 393 |  |  |  | 5 017 |  |  |  | 3 781 |  |  |  | 1 276 |  |  |  | 4 879 |  |  |  | 3 847 |
Profit (loss) |  |  | 1 |  |  |  | 741 |  |  |  | 275 |  |  |  | (20 | ) |  |  | 700 |  |  |  | 224 |
Other comprehensive income (loss) |  |  | — |  |  |  | (295 | ) |  |  | 241 |  |  |  | — |  |  |  | (134 | ) |  |  | 392 |
Total comprehensive income (loss) |  |  | 1 |  |  |  | 447 |  |  |  | 516 |  |  |  | (20 | ) |  |  | 566 |  |  |  | 617 |
In 2021, associates that are not individually material contributed 90m US dollar to the results of investment in associates (2020: 45m US dollar; 2019: 10m US dollar). Following the entry of Zimbabwe in a hyperinflation economy in 2019, the company recorded an impairment of 15m US dollar in 2020 on its investment in Delta Corporation Ltd. The impairment was recorded as an exceptional net finance cost. Refer to Note 11 Finance cost and income. Additional information related to the significant associates is presented in Note 35 AB InBev Companies .
1 | The net assets are converted at the respective closing rates of December.

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