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Property, plant and equipment
 12 Months Ended
Dec. 31, 2024
Text Block1 [Abstract]  
Property, plant and equipment
13. Property, plant and equipment
Property, plant and equipment comprises owned and leased assets, as follows:
 
Million US dollar
   
31 December 2024
     
  31 December 2023
  
                   
Property, plant and equipment owned
   
21 295
   
24 092
Property, plant and equipment leased
(right-of-use
assets)
   
2 209
   
2 726
Total property, plant and equipment
   
23 503
     
26 818
  
 
    
31 December 2024 
             
31 December 2023 
  
Million US dollar
   
Land and
buildings
     
Plant and
equipment,
fixtures and
fittings
     
Under
construction
     
    Total
     
Total
  
                                              
Acquisition cost
   
  
  
  
  
Balance at end of previous year
   
13 071
     
39 783
     
1 669
     
54 522
     
52 269
  
Effect of movements in foreign exchange
   
(1 015)
  
(3 240)
  
(170)
  
(4 424)
  
1 039
Acquisitions
   
25
   
1 025
   
1 940
   
2 989
   
3 890
Acquisitions through business combinations
   
11
   
5
   
-
  
16
   
-
Disposals through sale and derecognition
   
(210)
  
(2 051)
  
(9)
  
(2 271)
  
(1 665)
Disposals through the sale of subsidiaries
   
(2)
  
(7)
  
-
  
(9)
  
-
Transfer (to)/from other asset categories and other movements¹
   
446
   
2 540
   
(2 263)
  
724
   
(1 011)
Balance at end of the period
   
12 325
     
38 056
     
1 166
     
51 547
     
54 522
  
                                              
Depreciation and impairment losses
   
  
  
  
  
Balance at end of previous year
   
(5 017)
  
(25 414)
  
-
  
(30 430)
  
(28 024)
Effect of movements in foreign exchange
   
335
   
2 032
   
-
  
2 367
   
(594)
Depreciation
   
(391)
  
(3 127)
  
-
  
(3 518)
  
(3 573)
Disposals through sale and derecognition
   
127
   
1 992
   
2
   
2 121
   
1 533
Disposals through the sale of subsidiaries
   
1
   
4
   
-
  
5
   
-
Impairment losses
   
(29)
  
(215)
  
(2)
  
(247)
  
(181)
Transfer to/(from) other asset categories and other movements¹
   
(44)
  
(506)
  
-
  
(550)
  
409
Balance at end of the period
   
(5 018)
  
(25 235)
  
-
  
(30 252)
  
(30 430)
                                              
Carrying amount
   
  
  
  
  
at 31 December 2023
   
8 054
     
14 370
     
1 669
     
24 092
     
24 092
  
at 31 December 2024
   
7 307
     
12 821
     
1 166
     
21 295
     
-
 
 
1
The transfer (to)/from other asset categories and other movements relates mainly to transfers from assets under construction to their respective asset categories, to contributions of assets to pension plans, to the separate presentation in the statement of financial position of property, plant and equipment 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
.
 
As at 31 December 2024 and 31 December 2023 there were no significant restrictions on title on property, plant and equipment.
Contractual commitments to purchase property, plant and equipment amounted to 257m US dollar as at 31 December 2024 compared to 641m US dollar as at 31 December 2023.
AB InBev’s net capital expenditures in the statement of cash flow amounted to 3 735m US dollar in 2024 compared to 4 482m US dollar in 2023. Out of the total 2024 capital expenditures approximately 44% was used to improve the company’s production facilities while 40% was used for logistics and commercial investments and 16% for the purchase of hardware and software and improving administrative capabilities.
Property, plant and equipment leased by the company
(right-of-use
assets) is detailed as follows:
 
    
31 December 2024
  
Million US dollar
   
Land and buildings
    
Machinery,
 equipment and
other
    
     Total
  
                          
Net carrying amount at 31 December
   
1 443
  
766
  
2 209
  
Depreciation for the year ended 31 December
   
(433
) 
  
(349
) 
  
(782
) 
 
    
31 December 2023
  
Million US dollar
   
Land and buildings
     
Machinery,
 equipment and
other
     
     Total
  
                            
Net carrying amount at 31 December
   
1 753 
   
973 
   
2 726 
  
Depreciation for the year ended 31 December
   
(446)
  
(360)
  
(806)
Additions to
right-of-use
assets in the year ended 31 December 2024 were 546m US dollar (31 December 2023: 825m US dollar).
Following the sale of Dutch and Belgian pub real estate to Cofinimmo in October 2007, AB InBev entered into lease agreements with a term of 27 years. Furthermore, the company leases a number of warehouses, trucks, factory facilities and other commercial buildings, which typically run for a period of
five
to ten years. Lease payments are increased annually to reflect market rentals, if applicable. None of the leases include contingent rentals.
The company leases out pub real estate for an average outstanding period of
6
to 8 years and part of its own property under operating leases. In 2024, 124m US dollar was recognized as income in the income statement in respect of subleasing of
right-of-use
assets (2023: 120m US dollar, 2022: 108m US dollar). As at 31 December 2024, the undiscounted lease payments of the
non-cancelable
lease payments are expected to be received as follows: 100m US dollar in the next 12 months, 289m US dollar in the years 2 through 5 and 61m US dollar after 5 years.
The expense related to short-term and
low-value
leases and variable lease payments that are not included in the measurement of the lease liabilities is not significant.