XML 38 R21.htm IDEA: XBRL DOCUMENT

Intangible assets

12 Months Ended

Dec. 31, 2023

15. Intangible assets



	31 December 2023										31 December 2022
Million US dollar	Brands		Commercial intangibles		Software		Other		Total		Total

Acquisition cost
Balance at end of previous year		37 741		2 026		4 050		354		44 170		45 015
Effect of movements in foreign exchange		703		67		181		6		957		(751)
Acquisitions through business combinations		15		-		-		-		15		-
Acquisitions and expenditures		7		182		632		17		838		978
Disposals through sale and derecognition		(1)		-		(56)		(9)		(67)		(1 437)
Transfer (to)/from other asset categories and other movements¹		(132)		(56)		572		(218)		166		365
Balance at end of period		38 332		2 219		5 379		150		46 080		44 170

Amortization and impairment losses
Balance at end of previous year		(88)		(1 247)		(2 577)		(49)		(3 961)		(4 585)
Effect of movements in foreign exchange		-		(51)		(132)		(8)		(191)		100
Amortization		-		(136)		(544)		(31)		(711)		(647)
Impairment		(5)		-		(25)		-		(31)		(4)
Disposals through sale and derecognition		-		-		56		4		60		1 339
Transfer to/(from) other asset categories and other movements¹		-		46		2		(9)		39		(164)
Balance at end of period		(94)		(1 388)		(3 219)		(93)		(4 794)		(3 961)

Carrying value
at 31 December 2022		37 652		779		1 473		305		40 209		40 209
at 31 December 2023		38 239		830		2 160		57		41 286

AB InBev is the owner of some of the world’s most valuable brands in the beer industry. As a result, brands and certain distribution rights are expected to generate positive cash flows for as long as the company owns the brands and distribution

The transfer (to)/from other asset categories and other movements mainly relates to transfers from assets under construction to their respective asset categories, to the separate presentation in the statement of financial position of intangible assets held for sale in accordance with IFRS 5

Non-current assets held for sale and discontinued operations

and to the restatement of non-monetary assets under hyperinflation accounting in line with IAS 29

Financial reporting in hyperinflationary economies

rights. Given AB InBev’s more than 600-year history, brands and certain distribution rights have been assigned indefinite lives.

Acquisitions and expenditures of commercial intangibles mainly represent supply and distribution rights, exclusive multi-year sponsorship rights and other commercial intangibles.

Intangible assets with indefinite useful lives are comprised primarily of brands and certain distribution rights that AB InBev purchased for its own products and are tested for impairment once a year or whenever a triggering event has occurred. Based on the impairment testing results, no impairment loss was allocated to intangible assets with indefinite useful lives – refer to Note 14

Goodwill

As at 31 December 2023, the carrying amount of the intangible assets amounted to 41 286m US dollar (31 December 2022: 40 209m US dollar) of which 38 239m US dollar was assigned an indefinite useful life (31 December 2022: 37 652m US dollar) and 3 047m US dollar a finite life (31 December 2022: 2 557m US dollar).



Million US dollar Cash-generating unit	2023		2022

United States		21 939		21 979
Rest of North America		41		40
Mexico		3 629		3 166
Colombia		2 990		2 374
Rest of Middle Americas		3 590		3 531
Brazil		15		-
Rest of South America		655		767
Europe		432		423
South Africa		2 623		2 847
Rest of Africa		910		1 072
China		393		405
Rest of Asia Pacific		1 021		1 048
Total carrying amount of intangible assets with indefinite useful lives		38 239		37 652

In 2023, the company expensed 256m US dollar in research, compared to 268m US dollar in 2022 and 298m US dollar in 2021. The spend focused on product innovations, market research, as well as process optimization and product development.