Goodwill (Tables)

12 Months Ended

Dec. 31, 2025



Million US dollar	31 December 2025		31 December 2024

Acquisition cost
Balance at end of previous year		112 637		119 302
Effect of movements in foreign exchange		7 634		(7 082)
Transfers (to)/from other assets categories¹		(164)		(7)
Hyperinflation monetary adjustments		169		425
Balance at end of the period		120 276		112 637

Impairment losses
Balance at end of previous year		(2 158)		(2 259)
Effect of movements in foreign exchange		(209)		101
Balance at end of the period		(2 368)		(2 158)


Carrying amount

Balance at end of the period		117 908		110 479

The transfer (to)/from other asset categories relates mainly to the separate presentation in the statement of financial position of goodwill held for sale in accordance with IFRS 5 Non-current assets held for sale and discontinued operations.

• Amended to conform to the 2025 presentation.

Summary of Carrying Amount of Goodwill Allocated to Different Cash-generating Units

The carrying amount of goodwill was allocated to the different cash-generating units as follows:

• Amended to conform to the 2025 presentation.



Million US dollar	31 December 2025		31 December 2024 2

United States		33 330		33 387
Rest of North America		1 959		1 864
Mexico		13 819		12 250
Colombia		16 277		13 821
Rest of Middle Americas		24 465		23 205
Brazil		3 323		2 953
Rest of South America		1 323		1 345
Europe		2 859		2 557
South Africa		9 796		8 584
Rest of Africa		4 626		4 547
China		3 073		2 948
Rest of Asia Pacific		3 057		2 998
Global Export and Holding Companies		-		21
Total carrying amount of goodwill		117 908		110 479

Summary of Weighted Average Cost of Capital

The WACC applied in US dollar nominal terms were as follows:



Cash-generating unit	31 December 2025		31 December 2024

Colombia		9%		10%
South Africa		10%		11%
Rest of Asia Pacific		8%		8%
United States		7%		7%