Associated companies and JVs shows the decrease compared to Q4 2021 as this no longer includes results from the divested T-Mobile Netherlands.

Source: https://seekingalpha.com/article/4573970-tele2-ab-publ-tltzf-q4-2022-earnings-call-transcript?source=feed_all_articles

For 2022, AB InBev’s reported revenue was 57.8 billion USD (excluding JVs and associates).

Source: https://www.ibtimes.com.au/press-release/20230609/fifa-announces-ab-inbev-as-official-beer-sponsor-of-fifa-womens-world-cup-2023-and-fifa-world-cup-2026

Strong NII was fueled by a combination of really elevated yields from rising base rates to favorable dividends flowing from platform investments and JVs and three continue strong credit performance within the portfolio.

Source: https://seekingalpha.com/article/4626932-barings-bdc-inc-bbdc-q2-2023-earnings-call-transcript?source=feed_all_articles

The 51 percent Guyanese owned company offers a realistic model of what JVs should represent.

Source: https://www.kaieteurnewsonline.com/2023/11/19/back-to-front-exploitative-international-jvs-limited-access-to-financing-and-gaps-in-a-well-intentioned-local-content-law-hinder-guyanas-sme-growth-potential/