| INTANGIBLES |
| |
|
Commercial |
|
|
|
| |
Brands |
intangibles |
Software |
Others |
Total |
| Amortization |
|
| At December 31, 2020 |
- |
(2,584.4) |
(1,458.3) |
(653.5) |
(4,696.2) |
| Effects of movements in foreign exchange in the balance sheet |
- |
13.1 |
15.1 |
20.7 |
48.9 |
| Effects of application of IAS 29 (hyperinflation) |
- |
(56.0) |
(83.8) |
(139.7) |
(279.5) |
| Amortization |
- |
(58.4) |
(299.7) |
(46.8) |
(404.9) |
| Disposal |
- |
- |
14.1 |
- |
14.1 |
| Transfers from/(to) other asset categories |
- |
8.5 |
(16.7) |
(0.1) |
(8.3) |
| At December 31, 2021 |
- |
(2,677.2) |
(1,829.3) |
(819.4) |
(5,325.9) |
| Effects of movements in foreign exchange in the balance sheet |
- |
69.6 |
220.7 |
212.4 |
502.7 |
| Effects of application of IAS 29 (hyperinflation) |
- |
(71.2) |
(211.8) |
(215.5) |
(498.5) |
| Amortization |
- |
(58.1) |
(401.1) |
(43.0) |
(502.2) |
| Disposal |
- |
- |
0.1 |
- |
0.1 |
| Transfers from/(to) other asset categories |
- |
- |
1.6 |
- |
1.6 |
| At December 31, 2022 |
- |
(2,736.9) |
(2,219.8) |
(865.5) |
(5,822.2) |
| |
| Carrying amount: |
|
| At December 31, 2021 |
6,329.0 |
671.2 |
1,129.7 |
559.1 |
8,689.0 |
| At December 31, 2022 |
6,163.1 |
571.7 |
2,134.1 |
353.3 |
9,222.2 |
The Company is the owner of some of the world’s
leading brands in the beer industry. As a result, brands are expected to generate positive cash flow for as long as the Company owns the
brands, and accordingly they have been assigned indefinite useful lives. The most representative brands that have been recorded as a result
of the fair value determination of past acquisitions are Quilmes in Argentina, Pilsen in Paraguay, Paceña
and Huari in Bolivia and Presidente and Presidente Light in the Dominican Republic.
The carrying value of intangible assets with indefinite
useful lives classified as brands were allocated to the following CGUs:
| Schedule of carrying value of intangible assets with indefinite
useful lives |
|
|
| |
2022 |
2021 |
| Argentina |
2,019.2 |
1,917.1 |
| Bolivia |
894.5 |
956.7 |
| Canada |
206.4 |
235.2 |
| Chile |
78.5 |
84.8 |
| Luxembourg |
339.6 |
339.6 |
| Paraguay |
542.7 |
616.3 |
| Dominican Republic |
1,593.0 |
1,670.4 |
| Panama |
358.8 |
383.8 |
| Uruguay |
130.4 |
125.1 |
| |
6,163.1 |
6,329.0 |
Intangible assets with indefinite useful lives have been tested
for impairment on a CGU level basis, which is consistent with the approach described in Note 14 - Goodwill.
|