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Changes in equity and earnings per share (Tables)
 12 Months Ended
Dec. 31, 2021
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 2021:
 
    
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
  
Treasury shares
   
Million shares
     
Million US dollar
     
Million US dollar
  
At the end of the previous year
      47.0        (4 911 )       (3 530 ) 
Changes during the period
      (8.8 )       917        (836 ) 
    
 
 
     
 
 
     
 
 
  
    
 
38.2
     
 
(3 994
) 
   
 
(4 366
) 
    
 
 
     
 
 
     
 
 
  
Summary of Changes in Other Comprehensive Income Reserves
The changes in the other comprehensive income reserves are as follows:
 
                  
Post-
        
    
Translation
     
Hedging
     
employment
    
Total OCI
  
Million US dollar
   
Reserves
     
reserves
     
benefits
    
Reserves
  
As per 1 January 2021
   
 
(29 234
) 
   
 
376
     
 
(1 983
) 
  
 
(30 841
) 
    
 
 
     
 
 
     
 
 
    
 
 
  
Other comprehensive income/(loss)
                                   
Exchange differences on translation of foreign operations (gains/(losses))
      (4 320 )       —          —         (4 320 ) 
Cash flow hedges
      —          105        —         105  
Re-measurements
of post-employment benefits
      —          —          479       479  
    
 
 
     
 
 
     
 
 
    
 
 
  
Other comprehensive income/(loss)
   
 
(4 320
) 
   
 
105
     
 
479
    
 
(3 736
) 
    
 
 
     
 
 
     
 
 
    
 
 
  
As per 31 December 2021
   
 
(33 554
) 
   
 
481
     
 
(1 504
) 
  
 
(34 577
) 
    
 
 
     
 
 
     
 
 
    
 
 
  
The increase in translation reserves is primarily related to the combined effect of the weakening of the closing rates of the Colombian pesos, the Peruvian Sol, the South African rand and the Mexican pesos, partially offset by the weakening of the closing rate of the Euro, which resulted in a foreign exchange translation adjustment of 4 320m US dollar as of 31 December 2021 (decrease of equity).
                  
Post-
        
    
Translation
     
Hedging
     
employment
    
Total OCI
  
Million US dollar
   
Reserves
     
reserves
     
benefits
    
Reserves
  
As per 1 January 2020
   
 
(19 936
) 
   
 
397
     
 
(1 740
) 
  
 
(21 279
) 
    
 
 
     
 
 
     
 
 
    
 
 
  
Other comprehensive income/(loss)
                                   
Exchange differences on translation of foreign operations (gains/(losses))
      (9 943 )       —          —         (9 943 ) 
Cash flow hedges
      —          198        —         198  
Cash flow hedges and cumulative translation adjustments reclassified from equity to profit or loss in relation to Australia divestiture
      645        (219 )       —         426  
Re-measurements
of post-employment benefits
      —          —          (243 )      (243 ) 
    
 
 
     
 
 
     
 
 
    
 
 
  
Other comprehensive income/(loss)
   
 
(9 298
) 
   
 
(21
) 
   
 
(243
) 
  
 
(9 562
) 
    
 
 
     
 
 
     
 
 
    
 
 
  
As per 31 December 2020
   
 
(29 234
) 
   
 
376
     
 
(1 983
) 
  
 
(30 841
) 
    
 
 
     
 
 
     
 
 
    
 
 
  
                  
Post-
        
    
Translation
     
Hedging
     
employment
    
Total OCI
  
Million US dollar
   
Reserves
     
reserves
     
benefits
    
Reserves
  
As per 1 January 2019
   
 
(21 079
) 
   
 
494
     
 
(1 567
) 
  
 
(22 152
) 
    
 
 
     
 
 
     
 
 
    
 
 
  
Other comprehensive income/(loss)
                                   
Exchange differences on translation of foreign operations (gains/(losses))
      1 143        —          —         1 143  
Cash flow hedges
      —          (97 )       —         (97 ) 
Re-measurements
of post-employment benefits
      —          —          (173 )      (173 ) 
    
 
 
     
 
 
     
 
 
    
 
 
  
Other comprehensive income/(loss)
   
 
1 143
 
   
 
(97
) 
   
 
(173
) 
  
 
873
  
    
 
 
     
 
 
     
 
 
    
 
 
  
As per 31 December 2019
   
 
(19 936
) 
   
 
397
     
 
(1 740
) 
  
 
(21 279
) 
    
 
 
     
 
 
     
 
 
    
 
 
  
Summary of Basic and Diluted Earnings Per Share
The calculation of basic earnings per share for 2021 is based on the profit attributable to equity holders of AB InBev of 4 670m US dollar (2020: 1 405m US dollar; 2019: 9 171m US dollar) and a weighted average number of ordinary and restricted shares outstanding (including deferred share instruments and stock lending) per end of the period, calculated as follows:
 
Million shares
   
2021
     
2020
     
2019
  
Issued ordinary and restricted shares at 1 January, net of treasury shares
      1 972        1 959        1 957  
Effect of stock lending
      30        30        25  
Effect of delivery of treasury shares
      4        9        2  
    
 
 
     
 
 
     
 
 
  
Weighted average number of ordinary and restricted shares at 31 December
   
 
2 007
 
   
 
1 998
 
   
 
1 984
 
    
 
 
     
 
 
     
 
 
  
The calculation of diluted earnings per share for 2021 is based on the profit attributable to equity holders of AB InBev of 4 670m US dollar (2020: 1 405m US dollar; 2019: 9 171m US dollar) and a weighted average number of ordinary and restricted shares (diluted) outstanding (including deferred share instruments and stock lending) at the end of the period, calculated as follows:
 
Million shares
   
2021
     
2020
     
2019
  
Weighted average number of ordinary and restricted shares at 31 December
      2 007        1 998        1 984  
Effect of share options, warrants and restricted stock units
      38        39        42  
    
 
 
     
 
 
     
 
 
  
Weighted average number of ordinary and restricted shares (diluted) at 31 December
   
 
2 045
 
   
 
2 037
 
   
 
2 026
 
    
 
 
     
 
 
     
 
 
  

The calculation of earnings per share from continuing operations before exceptional items is based on the profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBevThe calculation of the Underlying EPS is based on the profit before exceptional items, discontinued operations,
mark-to-market
gains/losses 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 from continuing operations before exceptional items and discontinued operations attributable to equity holders of AB InBev, and to the profit before exceptional items, discontinued operations,
mark-to-market
gains/losses and hyperinflation impacts, attributable to equity holders of AB InBev is presented as follows:
 
Million US dollar
   
2021
     
2020
     
2019
 
Profit attributable to equity holders of AB InBev
 
 
4 670
 
 
 
1 405
 
 
 
9 171
 
Exceptional items, before taxes (refer to Note 8)
 
 
614
 
 
 
3 103
 
 
 
323
 
Exceptional finance income/(cost), before taxes (refer to Note 11)
 
 
806
 
 
 
1 738
 
 
 
(882
)
Exceptional taxes (refer to Note 8)
 
 
(346
)
 
 
(155
)
 
 
6
 
Exceptional non-controlling interest (refer to Note 8)
 
 
(20
)
 
 
(228
)
 
 
(108
)
Profit from discontinued operations (refer to Note 21)
 
 
—
 
 
 
  (2 055
)
 
 
(424
)
Profit from continuing operations before exceptional items and discontinued operations,
attributable to equity holders of AB InBev
   
 
 5 723
 
  
 
 3 807
 
  
 
 8 086
 
Mark-to-market (losses)/gains on certain derivatives related to the hedging of share-based payment
programs (refer to Note 11)
  
 
 23
 
  
 
 1 211
 
  
 
 (898 ) 
Hyperinflation impacts
      28        4        7
 
    
 
 
     
 
 
     
 
 
 
Profit before exceptional items, discontinued operations, mark-to-market gains/losses and hyperinflation impacts, attributable to equity holders of AB InBev
   
 
5 774
 
   
 
5 022
 
   
 
7 196
 
Summary of Calculation of EPS
The table below sets out the EPS calculation:
 
Million US dollar
   
2021
     
2020
     
2019
  
Profit attributable to equity holders of AB InBev
      4 670        1 405        9 171  
Weighted average number of ordinary and restricted shares
      2 007        1 998        1 984  
    
 
 
     
 
 
     
 
 
  
Basic EPS from continuing and discontinued operations
   
 
2.33
     
 
0.70
     
 
4.62
  
    
 
 
     
 
 
     
 
 
  
Profit/(loss) from continuing operations attributable to equity holders of AB InBev
      4 670        (650 )       8 748  
Weighted average number of ordinary and restricted shares
      2 007        1 998        1 984  
    
 
 
     
 
 
     
 
 
  
Basic EPS from continuing operations
   
 
2.33
     
 
(0.33
) 
   
 
4.41
  
    
 
 
     
 
 
     
 
 
  
Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev
      5 723        3 807        8 086  
Weighted average number of ordinary and restricted shares
      2 007        1 998        1 984  
    
 
 
     
 
 
     
 
 
  
Basic EPS from continuing operations before exceptional items
   
 
2.85
     
 
1.91
     
 
4.08
  
    
 
 
     
 
 
     
 
 
  
Profit before exceptional items, discontinued operations,
mark-to-market
gains/losses and hyperinflation impacts, attributable to equity holders of AB InBev
      5 774        5 022        7 196  
Weighted average number of ordinary and restricted shares
      2 007        1 998        1 984  
    
 
 
     
 
 
     
 
 
  
Underlying EPS
   
 
2.88
     
 
2.51
     
 
3.63
  
    
 
 
     
 
 
     
 
 
  
Profit attributable to equity holders of AB InBev
      4 670        1 405        9 171  
Weighted average number of ordinary and restricted shares (diluted)
      2 045        2 037        2 026  
    
 
 
     
 
 
     
 
 
  
Diluted EPS from continuing and discontinued operations
   
 
2.28
     
 
0.69
     
 
4.53
  
    
 
 
     
 
 
     
 
 
  
Profit/(loss) from continuing operations attributable to equity holders of AB InBev
      4 670        (650 )       8 748  
Weighted average number of ordinary and restricted shares (diluted)
      2 045        1 998        2 026  
    
 
 
     
 
 
     
 
 
  
Diluted EPS from continuing operations
   
 
2.28
     
 
(0.33
) 
   
 
4.32
  
    
 
 
     
 
 
     
 
 
  
Profit from continuing operations before exceptional items and discontinued operations, attributable to equity holders of AB InBev
      5 723        3 807        8 086  
Weighted average number of ordinary and restricted shares (diluted)
      2 045        2 037        2 026  
    
 
 
     
 
 
     
 
 
  
Diluted EPS from continuing operations before exceptional items
   
 
2.80
     
 
1.87
     
 
3.99