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Income taxes | 12 Months Ended
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Dec. 31, 2023
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Income taxes | 12. Income taxes Income taxes recognized in the income statement can be detailed as follows:
Million US dollar |  | 2023 |  |  | 2022 |  |  | 2021 |
Current year |  |  | (2 828 | ) |  |  | (2 785 | ) |  |  | (2 857 | )
(Underprovided)/overprovided in prior years |  |  | (95 | ) |  |  | 157 |  |  |  | 159 |
Current tax expense |  |  | (2 923 | ) |  |  | (2 628 | ) |  |  | (2 698 | )
Origination and reversal of temporary differences |  |  | 855 |  |  |  | 829 |  |  |  | 632 |
Recognition/(de-recognition) of deferred tax assets on tax losses (carried forward) |  |  | (166 | ) |  |  | (128 | ) |  |  | (284 | )
Deferred tax (expense)/income |  |  | 689 |  |  |  | 701 |  |  |  | 348 |
Total income tax expense in the income statement |  |  | (2 234 | ) |  |  | (1 928 | ) |  |  | (2 350 | )
The reconciliation of the effective tax rate with the aggregated weighted nominal tax rate can be summarized as follows:
Million US dollar |  | 2023 |  |  | 2022 |  |  | 2021 |
Profit/(loss) before tax |  |  | 9 124 |  |  |  | 9 524 |  |  |  | 8 463 |
Deduct share of results of associates |  |  | 295 |  |  |  | 299 |  |  |  | 248 |
Deduct exceptional share of results of associates |  |  | (35) |  |  |  | (1 143) |  |  |  | - |
Profit before tax and before share of results of associates |  |  | 8 864 |  |  |  | 10 369 |  |  |  | 8 215 |
Adjustments to the tax basis |  |  |  |  |  |  |  |  |  |  |  |
Government incentives |  |  | (756) |  |  |  | (713) |  |  |  | (543) |
Non-deductible/(non-taxable) mark-to-market on derivatives |  |  | 325 |  |  |  | (606) |  |  |  | 48 |
Other expenses not deductible for tax purposes |  |  | 1 632 |  |  |  | 1 590 |  |  |  | 1 979 |
Other non-taxable income |  |  | (647) |  |  |  | (576) |  |  |  | (476) |
Adjusted tax basis |  |  | 9 417 |  |  |  | 10 065 |  |  |  | 9 223 |
Aggregate weighted nominal tax rate |  |  | 27.4% |  |  |  | 26.7% |  |  |  | 26.7% |
Tax at aggregated nominal tax rate |  |  | (2 583) |  |  |  | (2 691) |  |  |  | (2 463) |
Adjustments on tax expense |  |  |  |  |  |  |  |  |  |  |  |
Recognition/(de-recognition) of deferred tax assets on tax losses (carried forward) |  |  | (166) |  |  |  | (128) |  |  |  | (284) |
(Underprovided)/overprovided in prior years |  |  | (95) |  |  |  | 157 |  |  |  | 159 |
Deductions from interest on equity |  |  | 781 |  |  |  | 790 |  |  |  | 469 |
Deductions from goodwill and other tax deductions |  |  | 491 |  |  |  | 473 |  |  |  | 226 |
Change in tax rate |  |  | 2 |  |  |  | 48 |  |  |  | (147) |
Withholding taxes |  |  | (559) |  |  |  | (436) |  |  |  | (485) |
Other tax adjustments |  |  | (105) |  |  |  | (140) |  |  |  | 175 |
Total tax expense |  |  | (2 234) |  |  |  | (1 928) |  |  |  | (2 350) |
Effective tax rate |  |  | 25.2% |  |  |  | 18.6% |  |  |  | 28.6% |
The total income tax expense for 2023 amounts to 2 234m US dollar compared t o 1 928m US dollar for 2022 and 2 350m US dollar for 2021. The effective tax rate is 25.2% for 2023 compared to 18.6% for 2022 and 28.6% for 2021. The 2023 and 2021 effective tax rates were negatively impacted by non-deductible losses from derivatives related to hedging of share-based payment programs and hedging of the shares issued in a transaction related to the combination with Grupo Modelo and SAB, while the 2022 effective tax rate was positively impacted by non-taxable gains from these derivatives. In addition, the 2022 effective tax rate included 350m US dollar benefit from a reorganization which resulted in the utilization of current year and carry forward interests for which no deferred tax asset was recognized (refer to Note 8 Exceptional items ). The company benefits from tax exempted income and tax credits which are expected to continue in the future. The company does not have significant benefits coming from low tax rates in any particular jurisdiction. Income taxes were directly recognized in other comprehensive income as follows:
Million US dollar |  | 2023 |  |  | 2022 |  |  | 2021 |
Re-measurements of post-employment benefits |  |  | (13) |  |  |  | (126) |  |  |  | (123) |
Exchange differences, cash flow and net investment hedges |  |  | (41) |  |  |  | (51) |  |  |  | (45) |
Income tax (losses)/gains |  |  | (54) |  |  |  | (177) |  |  |  | (167) |

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- Definition The entire disclosure for income taxes. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 12 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=12&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IAS12_g79-88_TI -URIDate 2023-03-23 + Details
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