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Employee benefits (Tables)
 12 Months Ended
Dec. 31, 2021
Statement [LineItems]  
Summary of Net Liability for Post-Employment and Long-Term Employee Benefit Plans
The company’s net liability for post-employment and long-term employee benefit plans comprises the following as at 31 December 2021 and 2020:
 
Million US dollar
   
2021
     
2020
  
Present value of funded obligations
      (6 791 )       (7 703 ) 
Fair value of plan assets
      5 381        5 649  
    
 
 
     
 
 
  
Present value of net obligations for funded plans
   
 
(1 410
) 
   
 
(2 054
) 
    
 
 
     
 
 
  
Present value of unfunded obligations
      (687 )       (793 ) 
    
 
 
     
 
 
  
Present value of net obligations
   
 
(2 097
) 
   
 
(2 847
) 
    
 
 
     
 
 
  
Unrecognized asset
      (32 )       (31 ) 
    
 
 
     
 
 
  
Net liability
   
 
(2 129
) 
   
 
(2 878
) 
    
 
 
     
 
 
  
Other long term employee benefits
      (127 )       (86 ) 
    
 
 
     
 
 
  
Total employee benefits
   
 
(2 256
) 
   
 
(2 964
) 
    
 
 
     
 
 
  
Employee benefits amounts in the balance sheet:
                  
Liabilities
      (2 261 )       (2 970 ) 
Assets
      5        6  
    
 
 
     
 
 
  
Net liability
   
 
(2 256
) 
   
 
(2 964
) 
    
 
 
     
 
 
  
Summary of Changes in Present Value of Defined Benefit Obligations and Changes in Fair Value of Plan Assets
The changes in the present value of the defined benefit obligations are as follows:
 
Million US dollar
   
2021
     
2020
     
2019
  
Defined benefit obligation at 1 January
   
 
(8 496
) 
   
 
(8 143
) 
   
 
(7 568
) 
    
 
 
     
 
 
     
 
 
  
Current service costs
      (80 )       (72 )       (67 ) 
Interest cost
      (212 )       (250 )       (326 ) 
Past service gain/(cost)
      (5 )       16        (9 ) 
Settlements
      176        153        109  
Benefits paid
      553        519        596  
Contribution by plan participants
      (3 )       (2 )       (2 ) 
Actuarial gains/(losses) – demographic assumptions
      (41 )       20        61  
Actuarial gains/(losses) – financial assumptions
      460        (690 )       (912 ) 
Experience adjustments
      16        (12 )       29  
Exchange differences
      154        (35 )       (86 ) 
Transfers and other movements
      —          —          32  
    
 
 
     
 
 
     
 
 
  
Defined benefit obligation at 31 December
   
 
(7 478
) 
   
 
(8 496
) 
   
 
(8 143
) 
    
 
 
     
 
 
     
 
 
  
The changes in the fair value of plan assets are as follows:
 
Million US dollar
   
2021
     
2020
     
2019
  
Fair value of plan assets at 1 January
   
 
5 649
     
 
5 442
     
 
5 059
  
    
 
 
     
 
 
     
 
 
  
Interest income
      137        168        218  
Administration costs
      (19 )       (19 )       (23 ) 
Return on plan assets exceeding interest income
      197        332        579  
Contributions by AB InBev
      241        394        294  
Contributions by plan participants
      3        2        2  
Benefits paid net of administration costs
      (553 )       (519 )       (596 ) 
Assets distributed on settlements
      (172 )       (146 )       (107 ) 
Exchange differences
      (102 )       (9 )       46  
Transfers and other movements
      —          4        (30 ) 
    
 
 
     
 
 
     
 
 
  
Fair value of plan assets at 31 December
   
 
5 381
     
 
5 649
     
 
5 442
  
    
 
 
     
 
 
     
 
 
  
Summary of Changes in Unrecognized Assets
The changes in the unrecognized asset are as follows:
 
Million US dollar
   
2021
     
2020
     
2019
  
Irrecoverable surplus impact at 1 January
   
 
(31
) 
   
 
(74
) 
   
 
(77
) 
    
 
 
     
 
 
     
 
 
  
Interest expense
      (2 )       (4 )       (7 ) 
Changes excluding amounts included in interest expense
      1        47        9  
    
 
 
     
 
 
     
 
 
  
Irrecoverable surplus impact at 31 December
   
 
(32
) 
   
 
(31
) 
   
 
(74
) 
    
 
 
     
 
 
     
 
 
  
Summary of Employee Benefit Expense Recognized in Income Statement
The expense recognized in the income statement with regard to defined benefit plans can be detailed as follows:
 
Million US dollar
   
2021
     
2020
     
2019
  
Current service costs
      (80 )       (72 )       (67 ) 
Administration costs
      (19 )       (19 )       (23 ) 
Past service cost due to plan amendments, curtailments or settlements
      (2 )       16        66  
(Losses)/gains due to experience and demographic assumption changes
      1        6        1  
    
 
 
     
 
 
     
 
 
  
Profit from operations
   
 
(100
) 
   
 
(69
) 
   
 
(23
) 
    
 
 
     
 
 
     
 
 
  
Net finance cost
      (76 )       (87 )       (114 ) 
    
 
 
     
 
 
     
 
 
  
Total employee benefit expense
   
 
(176
) 
   
 
(156
) 
   
 
(137
) 
    
 
 
     
 
 
     
 
 
  
Summary of Employee Benefit Expense Recognized in Income Statement
The employee benefit expense is included in the following line items of the income statement:
 
Million US dollar
   
2021
     
2020
     
2019
  
Cost of sales
      (30 )       (28 )       (17 ) 
Distribution expenses
      (11 )       (9 )       (5 ) 
Sales and marketing expenses
      (24 )       (18 )       (4 ) 
Administrative expenses
      (34 )       (20 )       3  
Other operating (expense)/income
      (1 )       (1 )       —    
Exceptional items
      —          7        —    
Net finance cost
      (76 )       (87 )       (114 ) 
    
 
 
     
 
 
     
 
 
  
    
 
(176
) 
   
 
(156
) 
   
 
(137
) 
    
 
 
     
 
 
     
 
 
  
Summary of Weighted Average Assumptions used in Computing Benefit Obligations
Weighted average assumptions used in computing the benefit obligations of the company’s significant plans at the balance sheet date are as follows:
 
    
2021
  
Million US dollar
   
United
States
    
Canada
    
Mexico
    
Brazil
    
United
Kingdom
    
AB InBev
  
Discount rate
      2.8 %      2.9 %      8.0 %      8.7 %      1.9 %   
 
3.2
% 
Price inflation
      2.5 %      2.0 %      3.5 %      3.3 %      3.6 %   
 
2.7
% 
Future salary increases
      —         1.0 %     
4.5%-4.0
 %     
6.9%-5.0
 %      —        
3.7
%
 
Future pension increases
      —         2.0 %      3.5 %      3.3 %      3.2%    
 
2.7
% 
Medical cost trend rate
     
5.3%-4.5
 %      4.5 %      —         6.9 %      —        
5.9%-5.7
%
 
Life expectation for a
65-year
old male
      86       87       85       85       87    
 
85
 
Life expectation for a
65-year
old female
      88       90       88       87       89    
 
88
 
 
    
2020
  
Million US dollar
   
United
States
    
Canada
    
Mexico
    
Brazil
    
United
Kingdom
    
AB InBev
  
Discount rate
      2.5 %      2.4 %      6.3 %      6.9 %      1.4 %   
 
2.6
% 
Price inflation
      2.5 %      2.0 %      3.5 %      3.3 %      3.1 %   
 
2.6
% 
Future salary increases
      —         1.0 %      4.3 %     
6.9%-5.0
 %      —      
 
3.7
% 
Future pension increases
      —         2.0 %      3.5 %      3.3 %      2.9 %   
 
2.6
% 
Medical cost trend rate
     
5.5%-4.5
 %      4.5 %      —         6.9 %      —        
6.0%-5.7
%
 
Life expectation for a
65-year
old male
      86       87       82       85       87    
 
85
 
Life expectation for a
65-year
old female
      87       90       85       88       89    
 
88
 
Summary of Sensitivity Analysis of Defined Benefit Obligation for Weighted Principle Assumption
The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is:
 
    
2021
  
Million US dollar
   
Change in
assumption
    
Increase in
assumption
     
Decrease in
assumption
  
Discount rate
      0.5 %      (482 )       533  
Price inflation
      0.5 %      175        (183 ) 
Future salary increases
      0.5 %      26        (25 ) 
Medical cost trend rate
      1 %      30        (26 ) 
Longevity
      One year       256        (255 ) 
Summary of Fair Value of Plan Assets
The fair value of plan assets at 31 December consists of the following:
 
    
2021
    
2020
  
Million US dollar
   
Quoted
    
Unquoted
    
Total
    
Quoted
    
Unquoted
    
Total
  
Government bonds
      34 %      —      
 
34
% 
     33 %      —      
 
33
% 
Corporate bonds
      34 %      —      
 
34
% 
     34 %      —      
 
34
% 
Equity instruments
      24 %      —      
 
24
% 
     25 %      —      
 
25
% 
Property
      —         4 %   
 
4
% 
     —         3 %   
 
3
% 
Insurance contracts and others
      2 %      2 %   
 
4
% 
     3 %      2 %   
 
5
% 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
       94 %      6 %   
 
100
% 
  
 
95
% 
  
 
5
% 
  
 
100
%