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Investments in associates

12 Months Ended

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 assets1			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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- Definition

The disclosure of associates. [Refer: Associates [member]]

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