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Pension and similar obligations (Tables)
 12 Months Ended
Dec. 31, 2024
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 2024 and 2023:
 
Million US dollar
   
2024
     
     2023
  
Present value of funded obligations
   
 
(4 090)
 
   
 
(4 784)
 
Fair value of plan assets
   
 
3 547
 
   
 
3 882
 
Present value of net obligations for funded plans
   
 
(543)
 
   
 
(902)
 
Present value of unfunded obligations
   
 
(542)
 
   
 
(619)
 
Present value of net obligations
   
 
(1 085)
 
   
 
(1 521)
 
                   
Unrecognized asset
   
 
(63)
 
   
 
(38)
 
Net liability
   
 
(1 148)
 
   
 
(1 559)
 
                   
Other long term employee benefits
   
 
(106)
 
   
 
(102)
 
Total employee benefits
   
 
(1 254)
 
   
 
(1 661)
 
                   
Employee benefits amounts in the statement of financial position:
   
 
 
 
   
 
 
 
Liabilities
   
 
(1 296)
 
   
 
(1 673)
 
Assets
   
 
42 
   
 
12 
Net liability
   
 
(1 254)
 
   
 
(1 661)
 
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
   
2024
     
    2023
     
    2022
  
Defined benefit obligation at 1 January
   
(5 403)
  
(5 191)
  
(7 478)
Current service costs
   
(51)
  
(50)
  
(69)
Interest cost
   
(282)
  
(302)
  
(229)
Past service gain/(cost)
   
3 
   
4 
  
-
Settlements
   
133 
  
99 
  
114 
Benefits paid
   
432 
  
469 
  
549 
Contribution by plan participants
   
(2)
  
(2)
  
(2)
Actuarial gains/(losses) – demographic assumptions
   
(4)
  
17 
   
(2)
Actuarial gains/(losses) – financial assumptions
   
267 
   
(220)
  
1 854
Experience adjustments
   
(13)
  
(44)
  
(116)
Exchange differences
   
288 
   
(182)
  
243 
Transfers and other movements
   
 
- 
 
   
 
- 
 
   
 
(55)
 
Defined benefit obligation at 31 December
   
(4 632)
  
(5 403)
  
(5 191)
The changes in the fair value of plan assets are as follows:
 
Million US dollar
   
2024
     
    2023
     
    2022
  
Fair value of plan assets at 1 January
   
3 882 
  
3 807 
  
5 381 
Interest income
   
199 
  
217 
  
157 
Administration costs
   
(14)
  
(17)
  
(17)
Return on plan assets exceeding interest income
   
(26)
  
94 
  
(1 084)
Contributions by AB InBev
   
267 
  
218 
  
220 
Contributions by plan participants
   
2 
  
2 
  
2 
Benefits paid net of administration costs
   
(432)
  
(469)
  
(551)
Assets distributed on settlements
   
(130)
  
(97)
  
(112)
Exchange differences
   
(200)
  
127 
   
(188)
Transfers and other movements
   
 
- 
 
   
 
- 
 
   
 
(2)
 
Fair value of plan assets at 31 December
   
3 547 
  
3 882 
  
3 807 
Summary of Changes in Unrecognized Assets
The changes in the unrecognized asset are as follows:
 
Million US dollar
   
2024
     
    2023
     
    2022
  
Irrecoverable surplus impact at 1 January
   
(38)
  
(43)
  
(32)
Interest expense
   
(4)
  
(4)
  
(3)
Changes excluding amounts included in interest expense
   
(21)
  
9 
   
( 8)
Irrecoverable surplus impact at 31 December
   
(63)
  
(38)
  
(43)
Summary of Employee Benefit Expense Recognized in Income Statement
The expense recognized in the income statement with regards to defined benefit plans can be detailed as follows:
 
Million US dollar
   
2024
     
    2023
     
    2022
  
Current service costs
   
(51)
  
(50)
  
(66)
Administration costs
   
(18)
  
(17)
  
(17)
Past service cost due to plan amendments, curtailments or settlements
   
6 
   
6 
   
2 
(Losses)/gains due to experience and demographic assumption changes
   
(1)
  
(1)
  
-
Profit from operations
   
(63)
  
(61)
  
(81)
Net finance cost
   
(88)
  
(88)
  
(73)
Total employee benefit expense
   
(150)
  
(150)
  
(154)
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
   
2024
     
     2023
     
    2022
  
Cost of sales
   
(20)
  
(18)
  
(25)
Distribution expenses
   
(10)
  
(9)
  
(11)
Sales and marketing expenses
   
(14)
  
(14)
  
(17)
Administrative expenses
   
(18)
  
(21)
  
(28)
Net finance cost
   
(88)
  
(88)
  
(73)
Total employee benefit expense
   
(150)
  
(150)
  
(154)
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 reporting date are as follows:
 
    
2024
  
     
United
States
     
   Canada
     
    Mexico
     
    Brazil
     
United
   Kingdom
     
   AB InBev
  
Discount rate
   
5.7%
  
4.6%
  
10.8%
  
11.0%
  
5.6%
  
6.0%
Price inflation
   
2.0%
  
2.0%
  
3.5%
  
3.5%
  
3.2%
  
2.5%
Future salary increases
   
-
  
1.0%
  
4.3%
  
6.7%-3.9%
  
-
  
3.6%
Future pension increases
   
-
  
2.0%
  
3.5%
  
3.5%
  
3.1%
  
2.8%
Medical cost trend rate
   
6.5%-4.5%
  
4.5%
  
-
  
7.1%
  
-
  
6.3%-5.9%
Life expectation for a
65-year
old male
   
86
  
87
  
85
  
85
  
86
  
86
Life expectation for a
65-year
old female
   
88
  
89
  
88
  
88
  
89
  
88
 
    
2023
  
     
United
States
     
   Canada
     
    Mexico
     
    Brazil
     
United
   Kingdom
     
   AB InBev
  
Discount rate
   
5.3%
  
4.6%
  
9.3%
  
9.2%
  
4.7%
  
5.6%
Price inflation
   
2.0%
  
2.0%
  
3.5%
  
3.5%
  
3.2%
  
2.6%
Future salary increases
   
-
  
1.0%
  
4.3%
  
6.7%-3.9%
  
-
  
3.7%
Future pension increases
   
-
  
2.0%
  
3.5%
  
3.5%
  
3.1%
  
2.8%
Medical cost trend rate
   
6.8%-4.5%
  
4.5%
  
-
  
7.1%
  
-
  
6.7%-6.2%
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
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:
 
    
2024
  
Million US dollar
   
Change in
   assumption
     
Increase in
   assumption
    
Decrease in
   assumption
  
Discount rate
   
0.5%
  
(232
) 
  
237 
Price inflation
   
0.5%
  
88
  
(109)
Future salary increases
   
0.5%
  
17
  
(20)
Medical cost trend rate
   
1%
  
17
  
(15)
Mortality
   
One year
  
120
  
(138)
Summary of Fair Value of Plan Assets
The fair value of plan assets at 31 December consists of the following:
 
    
2024
     
2023
  
Million US dollar
   
Quoted
     
   Unquoted
     
   Total
     
   Quoted
     
   Unquoted
     
    Total
  
Government bonds
   
37%
  
-  
  
37%
  
38%
  
-  
  
38%
Corporate bonds
   
27%
  
1%
  
28%
  
27%
  
1%
  
28%
Equity instruments
   
22%
  
-  
  
22%
  
22%
  
-  
  
22%
Property
   
-  
  
7%
  
7%
  
-  
  
6%
  
6%
Insurance contracts and others
   
4%
  
2%
  
6%
  
3%
  
3%
  
6%
  
90%
  
10%
  
100%
  
90%
  
10%
  
100%