Intangible assets

12 Months Ended

Dec. 31, 2024

15. Intangible assets



	31 December 2024										31 December 2023
Million US dollar	Brands		Commercial intangibles		Software		Other		Total		Total

Acquisition cost
Balance at end of previous year		38 332		2 219		5 379		150		46 080		44 170
Effect of movements in foreign exchange		(1 337)		(166)		(525)		(37)		(2 065)		957
Acquisitions through business combinations		-		-		-		-		-		15
Acquisitions and expenditures		2		337		714		16		1 069		838
Disposals through sale and derecognition		(1)		(134)		(333)		(5)		(473)		(67)
Transfer (to)/from other asset categories and other movements¹		44		25		203		(31)		240		166
Balance at end of period		37 040		2 281		5 438		93		44 852		46 080

Amortization and impairment losses
Balance at end of previous year		(94)		(1 388)		(3 219)		(93)		(4 794)		(3 961)
Effect of movements in foreign exchange		1		137		314		19		470		(191)
Amortization		-		(189)		(631)		(25)		(845)		(711)
Impairment		-		-		(16)		(1)		(17)		(31)
Disposals through sale and derecognition		1		134		331		5		471		60
Transfer to/(from) other asset categories and other movements¹		-		(55)		(62)		14		(103)		39
Balance at end of period		(91)		(1 362)		(3 283)		(81)		(4 818)		(4 794)

Carrying value
at 31 December 2023		38 239		830		2 160		57		41 286		41 286
at 31 December 2024		36 948		919		2 155		12		40 034

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 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 2024, the carrying amount of the intangible assets amounted to 40 034m US dollar (31 December 2023: 41 286m US dollar) of which 36 948m US dollar was assigned an indefinite useful life (31 December 2023: 38 239m US dollar) and 3 086m US dollar a finite life (31 December 2023: 3 047m US dollar).

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



Million US dollar Cash-generating unit	2024		2023

United States		21 872		21 939
Rest of North America		37		41
Mexico		3 027		3 629
Colombia		2 586		2 990
Rest of Middle Americas		3 535		3 590
Brazil		-		15
Rest of South America		806		655
Europe		370		432
South Africa		2 558		2 623
Rest of Africa		861		910
China		383		393
Rest of Asia Pacific		913		1 021
Total carrying amount of intangible assets with indefinite useful lives		36 948		38 239

In 2024, the company expensed 222m US dollar in research, compared to 256m US dollar

2023

, and 268m US dollar in 2022.

The spend focused on product innovations, market research, as well as process optimization and product development.