AB InBev Financial Results
The changes in the present value of the defined benefit obligations are as follows:
Million US dollar
Defined benefit obligation at 1 January
Current service costs
Interest cost
Past service gain/(cost)
Settlements
Benefits paid
Contribution by plan participants
Actuarial gains/(losses) - demographic assumptions
Actuarial gains/(losses) – financial assumptions
Experience adjustments
Exchange differences
Transfers and other movements
Defined benefit obligation at 31 December
2022
2021
(7 478)
(8 496)
(69)
(80)
(229)
(212)
(5)
114
176
549
553
(2)
(3)
(2)
(41)
1 854
460
(116)
16
243
154
(55)
(5 191)
(7 478)
As at the last valuation date, the present value of the defined benefit obligation was comprised of approximately 1.1 billion
US dollar relating to active employees, 0.9 billion US dollar relating to deferred members and 3.2 billion US dollar relating
to members in retirement.
The changes in the fair value of plan assets are as follows:
Million US dollar
Fair value of plan assets at 1 January
Interest income
Administration costs
Return on plan assets exceeding interest income
Contributions by AB InBev
Contributions by plan participants
Benefits paid net of administration costs
Assets distributed on settlements
Exchange differences
Transfers and other movements
Fair value of plan assets at 31 December
2022
5 381
2021
5 649
157
137
(17)
(19)
(1 084)
197
220
241
2
3
(551)
(553)
(112)
(172)
(188)
(102)
(2)
3 807
5 381
Actual return on plans assets amounted to a loss of (927)m US dollar in 2022 compared to a gain of 334m US dollar in
2021.
The changes in the unrecognized asset are as follows:
Million US dollar
2022
2021
Irrecoverable surplus impact at 1 January
(32)
(31)
Interest expense
(3)
(2)
Changes excluding amounts included in interest expense
Irrecoverable surplus impact at 31 December
(8)
1
(43)
(32)
The expense recognized in the income statement with regards to defined benefit plans can be detailed as follows:
Million US dollar
2022
2021
Current service costs
(66)
(80)
Administration costs
(17)
(19)
Past service cost due to plan amendments, curtailments or settlements
2
(2)
(Losses)/gains due to experience and demographic assumption changes
1
Profit from operations
(81)
(100)
Net finance cost
(73)
(76)
Total employee benefit expense
(154)
(176)
The employee benefit expense is included in the following line items of the income statement:
Million US dollar
2022
2021
Cost of sales
(25)
(30)
Distribution expenses
(11)
(11)
Sales and marketing expenses
(17)
(24)
Administrative expenses
Other operating (expense)/income
Net finance cost
Total employee benefit expense
(28)
(34)
(1)
(73)
(76)
(154)
(176)
69View entire presentation