Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2018shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2018 |
Document Fiscal Year Focus | 2018 |
Document Fiscal Period Focus | FY |
Trading Symbol | BIDU |
Entity Registrant Name | Baidu, Inc. |
Entity Central Index Key | 0001329099 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Class A Ordinary Shares | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 27,733,692 |
Class B Ordinary Shares | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 7,201,254 |
Consolidated Balance Sheets
Consolidated Balance Sheets ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Current assets: | |||
Cash and cash equivalents | $ 4,020 | ¥ 27,638 | ¥ 11,084 |
Restricted cash | 318 | 2,189 | 252 |
Short-term investments | 16,235 | 111,626 | 89,381 |
Other invested securities | 0 | 0 | 18,350 |
Accounts receivable, net of allowance of RMB316 and RMB599 (US$87) for 2017 and 2018, respectively | 875 | 6,015 | 4,571 |
Loans and interest receivable, current portion net of allowances of RMB660 and RMB nil (US$ nil) for 2017 and 2018, respectively | 0 | 0 | 23,938 |
Amounts due from related parties | 114 | 785 | 168 |
Other current assets, net | 995 | 6,841 | 3,425 |
Total current assets | 22,557 | 155,094 | 151,169 |
Non-current assets: | |||
Fixed assets, net | 2,604 | 17,903 | 12,475 |
Intangible assets, net | 1,335 | 9,181 | 5,467 |
Goodwill | 2,696 | 18,536 | 15,806 |
Long-term investments, net | 11,702 | 80,454 | 56,283 |
Deferred tax assets, net | 338 | 2,324 | 1,532 |
Loans and interest receivable, non-current portion net of allowances of RMB104 and RMB nil (US$ nil) for 2017 and 2018, respectively | 0 | 0 | 3,467 |
Amounts due from related parties | 625 | 4,297 | 9 |
Other non-current assets | 1,422 | 9,777 | 5,520 |
Total non-current assets | 20,722 | 142,472 | 100,559 |
Total assets | 43,279 | 297,566 | 251,728 |
Current liabilities (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB18,775 and RMB19,851 (US$2,887) as of December 31, 2017 and 2018, respectively): | |||
Short-term loans | 443 | 3,046 | 1,244 |
Accounts payable and accrued liabilities | 5,147 | 35,381 | 27,523 |
Amounts due to the third-party investors | 0 | 0 | 38,486 |
Customer advances and deposits | 1,067 | 7,338 | 6,785 |
Deferred revenue | 274 | 1,883 | 788 |
Deferred income | 76 | 523 | 568 |
Long-term loans, current portion | 12 | 84 | 10 |
Notes payable, current portion | 999 | 6,871 | 6,500 |
Amounts due to related parties | 251 | 1,727 | 153 |
Total current liabilities | 8,269 | 56,853 | 82,057 |
Non-current liabilities (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB5,151 and RMB11,790 (US$1,715) as of December 31, 2017 and 2018, respectively): | |||
Deferred revenue | 190 | 1,309 | 0 |
Deferred income | 8 | 54 | 73 |
Long-term loans | 1,084 | 7,456 | 6,701 |
Notes payable | 6,216 | 42,735 | 29,111 |
Convertible senior notes | 685 | 4,712 | 0 |
Deferred tax liabilities | 596 | 4,099 | 3,375 |
Amounts due to related parties | 634 | 4,360 | 0 |
Other non-current liabilities | 34 | 236 | 39 |
Total non-current liabilities | 9,447 | 64,961 | 39,299 |
Total liabilities | 17,716 | 121,814 | 121,356 |
Commitments and contingencies | |||
Redeemable noncontrolling interests | 104 | 716 | 11,022 |
Equity | |||
Additional paid-in capital | 4,864 | 33,441 | 12,088 |
Retained earnings | 18,798 | 129,246 | 102,328 |
Accumulated other comprehensive income | 31 | 210 | 930 |
Total Baidu, Inc. shareholders' equity | 23,693 | 162,897 | 115,346 |
Noncontrolling interests | 1,766 | 12,139 | 4,004 |
Total equity | 25,459 | 175,036 | 119,350 |
Total liabilities, redeemable noncontrolling interests and equity | 43,279 | 297,566 | 251,728 |
Class A Ordinary Shares | |||
Equity | |||
Ordinary shares, value | 0 | 0 | 0 |
Class B Ordinary Shares | |||
Equity | |||
Ordinary shares, value | $ 0 | ¥ 0 | ¥ 0 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2018CNY (¥)shares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2017CNY (¥)shares |
Allowance for doubtful accounts receivable | $ 87 | ¥ 599 | $ 46 | ¥ 316 |
Allowance for loans and interest receivable, current | 0 | 0 | 660 | |
Allowance for loans and interest receivable, non current | 0 | 0 | 104 | |
Total current liabilities | 8,269 | 56,853 | 82,057 | |
Total non-current liabilities | $ 9,447 | ¥ 64,961 | ¥ 39,299 | |
Common stock, par value per share | $ / shares | $ 0.00005 | |||
Common stock, shares authorized | 870,400,000 | 870,400,000 | 870,400,000 | 870,400,000 |
Variable Interest Entity, Primary Beneficiary | ||||
Total current liabilities | $ 2,887 | ¥ 19,851 | ¥ 18,775 | |
Total non-current liabilities | $ 1,715 | ¥ 11,790 | ¥ 5,151 | |
Class A Ordinary Shares | ||||
Common stock, par value per share | $ / shares | $ 0.00005 | $ 0.00005 | ||
Common stock, shares authorized | 825,000,000 | 825,000,000 | 825,000,000 | 825,000,000 |
Common stock, shares issued | 27,733,692 | 27,733,692 | 27,614,978 | 27,614,978 |
Common stock, shares outstanding | 27,733,692 | 27,733,692 | 27,614,978 | 27,614,978 |
Class B Ordinary Shares | ||||
Common stock, par value per share | $ / shares | $ 0.00005 | $ 0.00005 | ||
Common stock, shares authorized | 35,400,000 | 35,400,000 | 35,400,000 | 35,400,000 |
Common stock, shares issued | 7,201,254 | 7,201,254 | 7,201,254 | 7,201,254 |
Common stock, shares outstanding | 7,201,254 | 7,201,254 | 7,201,254 | 7,201,254 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2018CNY (¥)¥ / sharesshares | Dec. 31, 2017CNY (¥)¥ / sharesshares | Dec. 31, 2016CNY (¥)¥ / sharesshares | |
Revenues: | ||||
Total revenues | $ 14,876 | ¥ 102,277 | ||
Total revenues | ¥ | ¥ 84,809 | ¥ 70,549 | ||
Operating costs and expenses: | ||||
Cost of revenues | 7,526 | 51,744 | 43,062 | 35,278 |
Selling, general and administrative | 2,797 | 19,231 | 13,128 | 15,071 |
Research and development | 2,294 | 15,772 | 12,928 | 10,151 |
Total operating costs and expenses | 12,617 | 86,747 | 69,118 | 60,500 |
Operating profit | 2,259 | 15,530 | 15,691 | 10,049 |
Other income: | ||||
Interest income | 647 | 4,451 | 3,154 | 2,342 |
Interest expense | (274) | (1,883) | (1,615) | (1,158) |
Foreign exchange income (loss), net | (18) | (122) | (482) | 508 |
Loss from equity method investments | (11) | (79) | (63) | (1,026) |
Others, net | 1,371 | 9,428 | 4,598 | 3,794 |
Total other income, net | 1,715 | 11,795 | 5,592 | 4,460 |
Income before income taxes | 3,974 | 27,325 | 21,283 | 14,509 |
Income taxes | 690 | 4,743 | 2,995 | 2,913 |
Net income | 3,284 | 22,582 | 18,288 | 11,596 |
Less: net income (loss) attributable to noncontrolling interests | (726) | (4,991) | (13) | (36) |
Net income attributable to Baidu, Inc. | 4,010 | 27,573 | 18,301 | 11,632 |
Other comprehensive (loss) income: | ||||
Foreign currency translation adjustments | 28 | 194 | 803 | (593) |
Unrealized (losses) gains on available-for-sale investments, net of reclassification | 14 | 92 | 1,575 | (57) |
Other comprehensive (loss) income, net of tax | 42 | 286 | 2,378 | (650) |
Comprehensive income | 3,326 | 22,868 | 20,666 | 10,946 |
Less: comprehensive income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests | (580) | (3,985) | (348) | 291 |
Comprehensive income attributable to Baidu, Inc. | $ 3,906 | ¥ 26,853 | ¥ 21,014 | ¥ 10,655 |
Common Class A and Class B | ||||
Earnings per shares: | ||||
Basic | (per share) | $ 114.37 | ¥ 786.36 | ¥ 527.51 | ¥ 319.47 |
Diluted | (per share) | $ 113.49 | ¥ 780.27 | ¥ 524.08 | ¥ 318.62 |
Weighted average number of Class A and Class B ordinary shares outstanding: | ||||
Basic | 34,898,589 | 34,898,589 | 34,725,123 | 34,665,238 |
Diluted | 35,171,043 | 35,171,043 | 34,952,391 | 34,757,086 |
Class A Ordinary Shares | ||||
Earnings per shares: | ||||
Basic | (per share) | $ 114.37 | ¥ 786.36 | ¥ 527.51 | ¥ 319.47 |
Diluted | (per share) | $ 113.49 | ¥ 780.27 | ¥ 524.08 | ¥ 318.62 |
Weighted average number of Class A and Class B ordinary shares outstanding: | ||||
Basic | 27,697,335 | 27,697,335 | 27,464,760 | 27,263,984 |
Diluted | 35,171,043 | 35,171,043 | 34,952,391 | 34,757,086 |
Class A Ordinary Shares | American Depositary Shares | ||||
Earnings per shares: | ||||
Basic | (per share) | $ 11.44 | ¥ 78.64 | ¥ 52.75 | ¥ 31.95 |
Diluted | (per share) | $ 11.35 | ¥ 78.03 | ¥ 52.41 | ¥ 31.86 |
Online Marketing Services | ||||
Revenues: | ||||
Total revenues | $ 11,914 | ¥ 81,912 | ||
Total revenues | ¥ | ¥ 73,146 | ¥ 64,525 | ||
Other Revenue | ||||
Revenues: | ||||
Total revenues | $ 2,962 | ¥ 20,365 | ||
Total revenues | ¥ | ¥ 11,663 | ¥ 6,024 |
Consolidated Statements Of Co_2
Consolidated Statements Of Comprehensive Income (Parenthetical) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Class A Ordinary Shares | |||
Number of American depositary shares (ADSs) representing one Class A ordinary share | 10 | 10 | 10 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Cash flows from operating activities: | ||||
Net income | $ 3,284 | ¥ 22,582 | ¥ 18,288 | ¥ 11,596 |
Adjustments to reconcile net income to net cash generated from operating activities: | ||||
Depreciation of fixed assets and computer parts | 543 | 3,730 | 3,805 | 3,451 |
Gain on disposal of fixed assets | (7) | (51) | (30) | (84) |
Amortization of intangible assets and licensed copyrights | 1,812 | 12,457 | 7,943 | 4,876 |
Deferred income tax, net | (111) | (761) | (756) | (14) |
Share-based compensation | 681 | 4,676 | 3,244 | 1,760 |
Provision for doubtful accounts | 66 | 451 | 585 | 269 |
Investment income | (1,112) | (7,648) | (3,244) | (4,971) |
Amortization and impairment of assets | 532 | 3,655 | 2,358 | 421 |
Loss from equity method investments | 11 | 79 | 63 | 1,026 |
Gain on disposal of subsidiaries | (804) | (5,525) | (5,550) | (1,247) |
Barter transaction revenue | (158) | (1,083) | (763) | (382) |
Other non-cash (income) expenses | 18 | 124 | 362 | (463) |
Changes in operating assets and liabilities, net of effects of acquisitions and disposals: | ||||
Accounts receivable | (234) | (1,611) | (721) | (238) |
Amounts due from related parties | 77 | 527 | 178 | 1,594 |
Other assets | (195) | (1,333) | 1,259 | 237 |
Customer advances and deposits | 74 | 510 | 763 | 646 |
Accounts payable and accrued liabilities | 595 | 4,094 | 5,100 | 4,092 |
Deferred revenue | 58 | 402 | 203 | 221 |
Deferred income | (9) | (64) | 47 | 17 |
Amounts due to related parties | 110 | 756 | (306) | (327) |
Net cash generated from operating activities | 5,231 | 35,967 | 32,828 | 22,480 |
Cash flows from investing activities: | ||||
Acquisition of fixed assets | (1,276) | (8,772) | (4,779) | (4,189) |
Acquisition of computer parts | (13) | (89) | (50) | (26) |
Disposal of fixed assets | 6 | 43 | 44 | 55 |
Acquisition of businesses, net of cash acquired | (288) | (1,978) | (553) | 0 |
Acquisition of intangible assets | (1,964) | (13,501) | (9,122) | (6,296) |
Purchases of held-to-maturity investments | (4,020) | (27,640) | (56,150) | (47,634) |
Maturities of held-to-maturity investments | 7,133 | 49,040 | 49,580 | 46,143 |
Purchases of available-for-sale investments | (41,328) | (284,149) | (209,628) | (182,342) |
Sales and maturities of available-for-sale investments | 34,886 | 239,861 | 198,517 | 173,821 |
Purchases of other long-term investments | (1,439) | (9,891) | (12,499) | (4,005) |
Sales of other long-term investments | 367 | 2,524 | 19 | 303 |
Cash distribution from long-term investments | 7 | 47 | 13 | 5 |
Disposal of subsidiaries' shares | 812 | 5,581 | 1,431 | 275 |
Loans provided to related parties | (1,255) | (8,632) | 0 | 0 |
Repayment of loans provided to related parties | 1,785 | 12,270 | 0 | 0 |
Micro loan origination and disbursement | (5,210) | (35,824) | (63,597) | (7,920) |
Principal payments received on micro loans | 5,536 | 38,063 | 40,075 | 3,556 |
Purchases of other invested securities | (2,380) | (16,362) | (38,167) | (8,968) |
Sales and maturities of other invested securities | 3,629 | 24,949 | 27,917 | 1,311 |
Net cash used in investing activities | (5,012) | (34,460) | (76,949) | (35,911) |
Cash flows from financing activities: | ||||
Proceeds from short-term loans | 551 | 3,787 | 751 | 3,252 |
Repayments of short-term loans | (153) | (1,055) | (826) | (1,940) |
Proceeds from long-term loans | 170 | 1,168 | 299 | 6,633 |
Repayments of long-term loans | (14) | (98) | (3,330) | (1,042) |
Loans borrowed from related parties | 543 | 3,732 | 0 | 0 |
Payments of capital lease obligation | 0 | 0 | (8) | (53) |
Proceeds from issuance of long-term notes, net of issuance costs | 2,626 | 18,050 | 9,909 | 0 |
Repayment of long-term notes | (996) | (6,846) | (4,957) | 0 |
Proceeds from issuance of convertible notes, net of issuance costs | 732 | 5,035 | 8,463 | 0 |
Purchase of capped call | (68) | (465) | 0 | 0 |
Proceeds from issuance of subsidiaries' shares | 2,282 | 15,689 | 4,046 | 661 |
Repurchase of ordinary shares | (482) | (3,312) | (1,723) | 0 |
Proceeds from exercise of share options | 98 | 676 | 453 | 176 |
Proceeds from third-party investors for sale of financial products | 2,202 | 15,143 | 101,189 | 10,426 |
Repayment to third-party investors for sale of financial products | (4,854) | (33,376) | (82,987) | (3,666) |
Proceeds from secured borrowings from third-party financial institutions | 1,510 | 10,380 | 16,008 | 0 |
Repayment of secured borrowings from third-party financial institutions | (1,953) | (13,426) | (2,730) | 0 |
Net cash generated from financing activities | 2,194 | 15,082 | 44,557 | 14,447 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | 276 | 1,902 | (316) | 144 |
Net increase in cash, cash equivalents and restricted cash | 2,689 | 18,491 | 120 | 1,160 |
Cash, cash equivalents and restricted cash at beginning of the year | 1,649 | 11,336 | 11,216 | 10,056 |
Cash, cash equivalents and restricted cash at end of the year | 4,338 | 29,827 | 11,336 | 11,216 |
Supplemental disclosures: | ||||
Interest paid | 230 | 1,579 | 1,205 | 1,111 |
Income taxes paid | 801 | 5,509 | 3,300 | 2,402 |
Non-cash investing and financing activities: | ||||
Acquisition of fixed assets included in accounts payable and accrued liabilities | 220 | 1,516 | 1,167 | 903 |
Acquisition of licensed copyrights included in accounts payable and accrued liabilities | 922 | 6,337 | 4,040 | 2,195 |
Acquisition of licensed copyrights from nonmonetary content exchanges | 93 | 642 | 782 | 385 |
Non-cash acquisitions of investments | $ 111 | ¥ 764 | ¥ 765 | ¥ 2,963 |
Consolidated Statements Of Shar
Consolidated Statements Of Shareholders' Equity ¥ in Millions, $ in Millions | USD ($) | CNY (¥) | Ordinary SharesUSD ($)shares | Ordinary SharesCNY (¥)shares | Additional Paid-in CapitalUSD ($) | Additional Paid-in CapitalCNY (¥) | Retained EarningsUSD ($) | Retained EarningsCNY (¥) | Accumulated Other Comprehensive Income (Loss)USD ($) | Accumulated Other Comprehensive Income (Loss)CNY (¥) | Noncontrolling interestsUSD ($) | Noncontrolling interestsCNY (¥) | |
Balances (in shares) at Dec. 31, 2015 | shares | 34,606,462 | 34,606,462 | |||||||||||
Balances at Dec. 31, 2015 | ¥ 80,266 | ¥ 0 | ¥ 6,402 | ¥ 74,659 | ¥ (806) | ¥ 11 | |||||||
Net income | 11,596 | 0 | 0 | 11,632 | 0 | (36) | |||||||
Other comprehensive (loss) income | (975) | ¥ 0 | 0 | 0 | (977) | 2 | |||||||
Exercise of share-based awards (in shares) | shares | 120,343 | 120,343 | |||||||||||
Exercise of share-based awards | 173 | ¥ 0 | 173 | 0 | 0 | 0 | |||||||
Share-based compensation | 1,748 | 0 | 1,748 | 0 | 0 | 0 | |||||||
Accretion of redeemable noncontrolling interests | (557) | ¥ 0 | 0 | (557) | 0 | 0 | |||||||
Balances (in shares) at Dec. 31, 2016 | shares | 34,726,805 | 34,726,805 | |||||||||||
Balances at Dec. 31, 2016 | 92,251 | ¥ 0 | 8,323 | 85,734 | (1,783) | (23) | |||||||
Net income | 18,288 | 0 | 0 | 18,301 | 0 | (13) | |||||||
Other comprehensive (loss) income | 2,713 | 0 | 0 | 0 | 2,713 | 0 | |||||||
Issuance of shares by the Company's subsidiaries | 4,046 | 0 | 42 | 0 | 0 | 4,004 | |||||||
Acquisition of noncontrolling interests in a subsidiary | 0 | ¥ 0 | 5 | 0 | 0 | (5) | |||||||
Exercise of share-based awards (in shares) | shares | 235,210 | 235,210 | |||||||||||
Exercise of share-based awards | 454 | ¥ 0 | 454 | 0 | 0 | 0 | |||||||
Share-based compensation | 3,264 | 0 | 3,264 | 0 | 0 | 0 | |||||||
Accretion of redeemable noncontrolling interests | 17 | 0 | 0 | 17 | 0 | 0 | |||||||
Repurchase and retirement of ordinary shares | (1,724) | ¥ 0 | 0 | (1,724) | 0 | 0 | |||||||
Repurchase and retirement of ordinary shares (in shares) | shares | (145,783) | (145,783) | |||||||||||
Disposal of subsidiaries' shares | 41 | ¥ 0 | 0 | 0 | 0 | 41 | |||||||
Balances (in shares) at Dec. 31, 2017 | shares | 34,816,232 | 34,816,232 | |||||||||||
Balances at Dec. 31, 2017 | 119,350 | ¥ 0 | 12,088 | 102,328 | 930 | 4,004 | |||||||
Net income | 22,582 | 0 | 0 | 27,573 | 0 | (4,991) | |||||||
Other comprehensive (loss) income | 2,140 | 0 | 0 | 0 | 1,134 | 1,006 | |||||||
Business combinations | 1,387 | 0 | 75 | 0 | 0 | 1,312 | |||||||
Issuance of shares by the Company's subsidiaries | (14,251) | ¥ 0 | 14,984 | 0 | 0 | (733) | |||||||
Exercise of share-based awards (in shares) | shares | 325,879 | 325,879 | |||||||||||
Exercise of share-based awards | 689 | ¥ 0 | 689 | 0 | 0 | 0 | |||||||
Share-based compensation | 4,557 | 0 | 4,340 | 0 | 0 | 217 | |||||||
Accretion of redeemable noncontrolling interests | $ (21) | (146) | ¥ 0 | 0 | (130) | 0 | (16) | ||||||
Repurchase and retirement of ordinary shares | (482) | (3,312) | 0 | (3,312) | 0 | 0 | |||||||
Repurchase and retirement of ordinary shares (in shares) | shares | (207,165) | (207,165) | |||||||||||
Disposal of subsidiaries' shares | 1,558 | ¥ 0 | 1,323 | 0 | 0 | 235 | |||||||
Conversion of iQIYI preferred shares recognized as redeemable noncontrolling interests to ordinary shares | 11,150 | 0 | 0 | 0 | 0 | 11,150 | |||||||
Equity component of convertible senior notes, net of issuance costs | 362 | 0 | 206 | 0 | 0 | 156 | |||||||
Purchase of capped call | (465) | ¥ 0 | (264) | 0 | 0 | (201) | |||||||
Balances (in shares) at Dec. 31, 2018 | shares | 34,934,946 | 34,934,946 | |||||||||||
Balances at Dec. 31, 2018 | $ 25,459 | 175,036 | $ 0 | ¥ 0 | $ 4,864 | 33,441 | $ 18,798 | 129,246 | $ 31 | 210 | $ 1,766 | ¥ 12,139 | |
Cumulative effect of accounting change | ¥ 933 | ¥ 0 | ¥ 0 | ¥ 2,787 | ¥ (1,854) | [1] | |||||||
[1] | Adjustment of net unrealized gains related to available-for-sale equity investments from accumulated other comprehensive income to opening retained earnings as a result of the adoption of ASC 321 on January 1, 2018. |
Organization, Consolidation and
Organization, Consolidation and Presentation Of Financial Statements | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation Of Financial Statements | 1. ORGANIZATION, CONSOLIDATION AND PRESENTATION OF FINANCIAL STATEMENTS Baidu, Inc. (“Baidu” or the “Company”) was incorporated under the laws of the Cayman Islands on January 18, 2000. The Company, its subsidiaries, VIEs and subsidiaries of the VIEs are hereinafter collectively referred to as the “Group.” As of December 31, 2018, the Company has subsidiaries incorporated in countries and jurisdictions including the People’s Republic of China (“PRC”), Hong Kong, Japan, Cayman Islands and British Virgin Islands (“BVI”). As of December 31, 2018, the Company also effectively controls a number of variable interest entities (“VIEs”) through the Primary Beneficiaries, as defined below. The VIEs include: • Beijing Baidu Netcom Science Technology Co., Ltd. (“Baidu Netcom”), controlled by the Company; • Beijing Perusal Technology Co., Ltd. (“Beijing Perusal”), controlled by the Company; and • Other VIEs controlled by the Company or the Company’s subsidiaries, including VIEs of iQIYI, Inc. (“iQIYI VIEs”) The Group offers online marketing services, operates AI-powered PRC laws and regulations prohibit or restrict foreign ownership of internet content, advertising, audio and video services, and mobile application distribution businesses. To comply with these foreign ownership restrictions, the Group operates its websites and primarily provides services subject to such restriction in the PRC through the VIEs, the PRC legal entities that were established or whose equity shares were held by the individuals authorized by the Group. The paid-in capital the paid-in capital Despite the lack of legal majority ownership, there exists a parent-subsidiary relationship between the Primary Beneficiaries and the VIEs through the aforementioned agreements with the shareholders of the VIEs. The shareholders of the VIEs effectively assigned all of their voting rights underlying their equity interest in the VIEs to the Primary Beneficiaries. In addition, through the other exclusive agreements, which consist of operating agreements, technology consulting and services agreements and license agreements, the Primary Beneficiaries, by themselves or their subsidiaries in the PRC, demonstrate their ability and intention to continue to exercise the ability to absorb losses or receive economic benefits that could potentially be significant to the VIEs. The VIEs are subject to operating risks, which determine the variability of the Company’s interest in those entities. Based on these contractual arrangements, the Company consolidates the VIEs as required by Accounting Standards Codification (“ASC”) Topic 810, Consolidation Unrecognized revenue-producing assets held by the VIEs include certain internet content provisions and other licenses, domain names and trademarks. The internet content provisions and other licenses, which are held by the VIEs that provide the relevant services, are required under relevant PRC laws, rules and regulations for the operation of Internet businesses in the PRC, and therefore are integral to the Company’s operations. The principal terms of the agreements entered into amongst the VIEs, their respective shareholders and the Primary Beneficiaries before the amendments made in March 2018 are further described below. Loan Agreements Pursuant to loan agreements amongst the shareholders of Baidu Netcom and Baidu Online Network Technology (Beijing) Co., Ltd. (“Baidu Online”), one of the Company’s subsidiaries, Baidu Online provided interest-free loans in an aggregate amount of RMB6.4 billion (US$934 million) to the shareholders of Baidu Netcom solely for the latter to fund the capitalization of Baidu Netcom. The loans can be repaid only with the proceeds from the sale of the shareholders’ equity interest in Baidu Netcom to Baidu Online or its designated person. The terms of the loan agreements will expire on May 6, 2028 at the earliest and can be extended with the written consent of both parties before its expiration. Each of the loan agreements amongst Baidu Online or other subsidiaries and the respective shareholders of Beijing Perusal or other VIEs contains substantially the same terms as those described above, except that the amount of the loans and the contract expiry date varies. The amount of loans extended to the respective shareholders of Beijing Perusal is RMB3.2 billion (US$465 million). The term of the loan agreements will expire on March 30, 2028 and June 27, 2028, and can be extended with the written consent of both parties before its expiration. Exclusive Equity Purchase and Transfer Option Agreement Pursuant to the exclusive equity purchase and transfer option agreement amongst the shareholders of Baidu Netcom, Baidu Netcom and Baidu Online, the shareholders of Baidu Netcom irrevocably granted Baidu Online or its designated person(s) an exclusive option to purchase, to the extent permitted under PRC law, all or part of the equity interests in Baidu Netcom for the cost of the initial contributions to the registered capital or the minimum amount of consideration permitted by applicable PRC law. The shareholders should remit to Baidu Online any amount that is paid by Baidu Online or its designated person(s) in connection with the purchased equity interest. Baidu Online or its designated person(s) have sole discretion to decide when to exercise the option, whether in part or in full. Any and all dividends and other capital distributions made by Baidu Netcom to its shareholders should be repaid to Baidu Online in full amount. Baidu Online would provide unlimited financial support to Baidu Netcom if, in the normal operation of business, Baidu Netcom would become in need of any form of reasonable financial support. If Baidu Netcom were to incur any loss and as a result cannot repay any loans from Baidu Online, Baidu Online should unconditionally forgive any such loans to Baidu Netcom given that Baidu Netcom provides sufficient proof for its loss and incapacity to repay. The agreement will terminate when the shareholders of Baidu Netcom have transferred all their equity interests in Baidu Netcom to Baidu Online or its designated person(s) or upon expiration of the term of business of Baidu Online or Baidu Netcom. Each of the exclusive equity purchase and transfer option agreements amongst Baidu Online or other subsidiaries, Beijing Perusal and their shareholders, or other VIEs and their shareholders contains substantially the same terms as those described above. Each of the agreements will terminate upon the transfer of all the equity interests held by the shareholders of Beijing Perusal or other VIEs, as the case may be, to Baidu Online or its designated person(s) or upon expiration of the term of business of Baidu Online, Beijing Perusal or other VIEs. Proxy Agreement/Power of Attorney Pursuant to the proxy agreement between Baidu Online and the shareholders of Baidu Netcom, the shareholders of Baidu Netcom agreed to entrust all the rights to exercise their voting power and any other rights as shareholders of Baidu Netcom to the person(s) designated by Baidu Online. The shareholders of Baidu Netcom have each executed an irrevocable power of attorney to appoint the person(s) designated by Baidu Online as their attorney-in-fact Each of the proxy agreements or shareholder voting rights trust agreements amongst Baidu Online or other subsidiaries and the shareholders of Beijing Perusal and other VIEs contains substantially the same terms as those described above. Each of the proxy agreements will be in effect for an unlimited term unless terminated in writing by Baidu Online. Each of the powers of attorney will be in effect for as long as the shareholder of Beijing Perusal or other VIEs holds any equity interests in Beijing Perusal or other VIEs, as the case may be. Operating Agreement Pursuant to the operating agreement amongst Baidu Online, Baidu Netcom and the shareholders of Baidu Netcom, Baidu Online provides guidance and instructions on Baidu Netcom’s daily operations and financial affairs. Baidu Online has the power to appoint senior executives of Baidu Netcom. The shareholders of Baidu Netcom must appoint the candidates recommended by Baidu Online as their representatives on Baidu Netcom’s board of directors. In addition, Baidu Online agrees to guarantee Baidu Netcom’s performance under any agreements or arrangements relating to Baidu Netcom’s business arrangements with any third party. In return, Baidu Netcom agrees that without the prior consent of Baidu Online, Baidu Netcom will not engage in any transactions that could materially affect the assets, liabilities, rights or operations of Baidu Netcom, including, without limitation, incurrence or assumption of any indebtedness, sale or purchase of any assets or rights, incurrence of any encumbrance on any of its assets or intellectual property rights in favor of a third party or transfer of any agreements relating to its business operation to any third party. The agreement will be in effect for an unlimited term, until the term of business of Baidu Online or Baidu Netcom expires and extension is denied by the relevant approval authorities. Each of the operating agreements amongst Baidu Online or other subsidiaries, Beijing Perusal and their shareholders or other VIEs and their shareholders contains substantially the same terms as those described above. Each of the agreements will be in effect for an unlimited term, until the term of business of Baidu Online, Beijing Perusal or other VIEs expires and extension is denied by the relevant approval authorities. Exclusive Technology Consulting and Services Agreement Pursuant to the exclusive technology consulting and services agreement between Baidu Online and Baidu Netcom, Baidu Online has the exclusive right to provide technology consulting and services related to, among other things, the maintenance of servers, software development, design of advertisements, and e-commerce Each of the exclusive technology consulting and services agreements between Baidu Online or other subsidiaries and Beijing Perusal or other VIEs contains substantially the same terms as those described above, except the basis of determining the service fees may differ. License Agreements Baidu Online and Baidu Netcom entered into a software license agreement and a web layout copyright license agreement (collectively, the “License Agreements”). Pursuant to the License Agreements between Baidu Online and Baidu Netcom, Baidu Online has granted to Baidu Netcom the right to use (including but not limited to) a software license and a web layout copyright license. Baidu Netcom may only use the licenses in its own business operations. Baidu Online has the right to adjust the service fees at its sole discretion. The software license agreement and web layout copyright license agreement were renewed since their original expiration and would be in effect for an unlimited term, until the term of business of one party expires and extension is denied by the relevant approval authorities. Baidu Online entered into web layout copyright license agreements with Beijing Perusal. Each of the license agreements between the Baidu Online and Beijing Perusal or other VIEs contains substantially the same terms as those described above. Each of the web layout copyright license agreements was renewed in 2013 and would be in effect for an unlimited term, until the term of business of one party expires and extension is denied by the relevant approval authorities. Equity Pledge Agreement Pursuant to the equity pledge agreement between Baidu Online and the shareholders of Baidu Netcom, the shareholders of Baidu Netcom pledged all of their equity interests in Baidu Netcom to Baidu Online to guarantee their obligations under the loan agreement and Baidu Netcom’s performance of its obligations under the exclusive technology consulting and services agreement. If Baidu Netcom or its shareholders breach their respective contractual obligations, Baidu Online, as the pledgee, will be entitled to certain rights, including the right to sell the pledged equity interests. The shareholders of Baidu Netcom agreed not to dispose of the pledged equity interests or take any actions that would prejudice Baidu Online’s interest. The equity pledge agreement will expire two years after expiration of the term or the fulfillment by Baidu Netcom and its shareholders of their respective obligations under the exclusive technology consulting and services agreement and the loan agreement. Each of the equity pledge agreements amongst Baidu Online or other subsidiaries and the shareholders of Beijing Perusal or other VIEs contains substantially the same terms, including its term to expiration, as those described above. Through the design of the aforementioned agreements, the shareholders of the VIEs effectively assigned their full voting rights to Baidu Online, which gives Baidu Online the power to direct the activities that most significantly impact the VIEs’ economic performance. Baidu Online obtains the ability to approve decisions made by the VIEs and the ability to acquire the equity interests in the VIEs when permitted by PRC law. Baidu Online is obligated to absorb losses or receive economic benefits of the VIEs that could potentially be significant to the VIEs through providing unlimited financial support to the VIEs or is entitled to receive economic benefits from the VIEs that could potentially be significant to the VIEs through the exclusive technology consulting and service fees. As a result of these contractual agreements, Baidu Online is determined to be the primary beneficiary of the VIEs. Despite the lack of technical majority ownership, there exists a parent-subsidiary relationship between the Company and the VIEs through these contractual agreements, and the Company consolidates the VIEs through Baidu Online. There are similar agreements entered into amongst iQIYI, Inc. (“iQIYI”), iQIYI subsidiaries, iQIYI VIEs, and the respective shareholders, which resulted in a parent-subsidiary relationship between iQIYI and iQIYI VIEs. In March 2018, the contractual agreements for certain VIEs, including Baidu Netcom and Beijing Perusal, were amended to include the following terms: a. Exclusive equity purchase and transfer option agreement The Company has (i) an exclusive option to purchase, when and to the extent permitted under PRC laws, all or part of the equity interests in the VIE or all or part of the assets held by the VIE, (ii) an exclusive right to cause the nominee shareholders to transfer their equity interest in the VIE to the Company or any designated person and (iii) an obligation to provide unlimited financial support to the VIEs when the VIEs become in need of any form of reasonable financial support in the normal operation of business. If the VIEs were to incur any loss and as a result cannot repay any loans from the Company, the Company will unconditionally forgive any such loans to the VIEs upon provision by the VIEs of sufficient proof for its loss and incapacity to repay. b. Proxy Agreements/Power of Attorney The appointment of any individuals to exercise the powers and rights assigned pursuant to the Proxy Agreement requires the approval of the Company. All the activities in relation to such powers and rights assigned are directed and approved by the Company. The shareholders of the VIEs agreed to entrust all the rights to exercise their voting power and any other rights as shareholders of the VIEs to the person(s) designated by the Company. The shareholders of the VIEs have each executed an irrevocable power of attorney to appoint the person(s) designated by the Company as their attorney-in-fact to As a result, the power and the rights pursuant to the Proxy Agreements have since been effectively reassigned from Baidu Online to the Company which has the power to direct the activities of the VIEs that most significantly impact the VIEs’ economic performance. The Company is also obligated to absorb the expected losses or receive economic benefits of the VIE through the financial support as described above. Therefore, the Company has replaced Baidu Online as the Primary Beneficiary of Baidu Netcom and Beijing Perusal since March 2018. As the VIEs were subject to indirect control by the Company through its subsidiaries immediately before and direct control immediately after the contractual agreements were amended, the change of the primary beneficiary of the VIEs was accounted for as a common control transaction based on the carrying amount of the net assets transferred. In the opinion of the Company’s legal counsel, (i) the ownership structure relating to the VIEs of the Company is in compliance with existing PRC laws and regulations; (ii) the contractual arrangements with the VIEs and their shareholders are valid, binding and enforceable, and will not result in any violation of PRC laws or regulations currently in effect; and (iii) the performance of the VIEs and their shareholders is in compliance with the articles of association and business licenses of the VIEs. However, uncertainties in the PRC legal system could cause the Company’s current ownership structure to be found in violation of any existing and/or future PRC laws or regulations and could limit the Company’s ability, through the Primary Beneficiaries, to enforce its rights under these contractual arrangements. Furthermore, shareholders of the VIEs may have interests that are different with those of the Company, which could potentially increase the risk that they would seek to act in contrary to the terms of the aforementioned agreements. In addition, if the current structure or any of the contractual arrangements were found to be in violation of any existing or future PRC laws, the Company may be subject to penalties, which may include but not be limited to, the cancellation or revocation of the Company’s business and operating licenses, being required to restructure the Company’s operations or discontinue the Company’s operating activities. The imposition of any of these or other penalties may result in a material and adverse effect on the Company’s ability to conduct its operations. In such case, the Company may not be able to operate or control the VIEs, which may result in deconsolidation of the VIEs. The following tables set forth the financial statement balances and amounts of the VIEs and their subsidiaries were included in the consolidated financial statements after the elimination of intercompany balances and transactions among VIEs and their subsidiaries within the Group: As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Assets Current Cash and cash equivalents 4,045 1,895 276 Short-term investments 2,052 2,912 424 Accounts receivable, net 3,021 4,091 595 Others 5,280 4,642 675 14,398 13,540 1,970 Non-current Fixed assets, net 2,845 4,183 608 Intangible assets, net 2,104 4,032 586 Long-term investments, net 10,614 18,923 2,752 Others 6,488 12,639 1,838 22,051 39,777 5,784 Total 36,449 53,317 7,754 Third-party liabilities Current Accounts payable and accrued liabilities 14,073 13,889 2,020 Customer advances and deposits 2,288 2,402 349 Others 2,414 3,560 518 18,775 19,851 2,887 Non-current Long-term loans 4,788 10,495 1,527 Others 363 1,295 188 5,151 11,790 1,715 Total 23,926 31,641 4,602 Inter-company liabilities * Inter-company payable to subsidiaries for technology consulting and service fees 2,828 1,926 280 Others 4,605 10,768 1,566 Total 7,433 12,694 1,846 * Inter-company liabilities represent payable balances of each VIE due to subsidiaries within the Group pursuant to the technology consulting and service agreements. Other payables to non-VIE subsidiaries For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Total revenues 24,603 29,208 33,992 4,944 Net loss (464 ) (626 ) (6,834 ) (994 ) Net cash provided by (used in) operating activities 2,737 3,698 2,396 348 Net cash provided by (used in) investing activities (9,471 ) (5,725 ) (16,674 ) (2,425 ) Net cash provided by (used in) financing activities 5,098 2,985 11,916 1,733 As of December 31, 2018, there was no pledge or collateralization of the VIEs’ assets that can only be used to settle obligations of the VIEs, other than aforementioned in the equity pledge agreements and collateralization of a VIE’s office building as described in Note 10. The amount of the net assets of the VIEs was RMB9.0 billion (US$1.3 billion) as of December 31, 2018. The creditors of the VIEs’ third-party liabilities did not have recourse to the general credit of the Company in normal course of business. The Company did not provide or intend to provide financial or other supports not previously contractually required to the VIEs during the years presented. Basis of Presentation The consolidated financial statements are prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”). Principles of Consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries, VIEs and subsidiaries of the VIEs. All inter-company transactions and balances between the Company, its subsidiaries, VIEs and subsidiaries of the VIEs are eliminated upon consolidation. The Company included the results of operations of acquired businesses from the respective dates of acquisition. Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Management evaluates estimates, including those related to the standalone selling prices of performance obligations of revenue contracts, accounts receivable and contract assets allowances, credit loss allowance for micro loan receivables, fair values of certain debt and equity investments, amortization and impairment of licensed copyrights and produced content, ultimate revenue of produced content, fair value of nonmonetary content exchanges, impairment of long-lived assets, long-term investments and goodwill, the purchase price allocation and fair value of noncontrolling interests with respect to business combinations, deferred tax valuation allowance, and redeemable noncontrolling interests, among others. Management bases the estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates. Currency Translation for Financial Statements Presentation Translations of amounts from RMB into US$ for the convenience of the reader have been calculated at the exchange rate of RMB6.8755 per US$1.00 on December 31, 2018, the last business day in fiscal year 2018, as published on the website of the United States Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into U.S. dollars at such rate. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Foreign Currency The Company’s functional currency is the US$. The Company’s subsidiaries, VIEs and subsidiaries of the VIEs determine their functional currencies based on the criteria of ASC Topic 830, Foreign Currency Matters Segment Reporting As of December 31, 2017 and 2018, the Company had two reportable segments, Baidu Core and iQIYI. Baidu Core mainly provides search-based, feed-based, and other online marketing services, as well as new artificial intelligence business. Search Services and Transaction Services were combined into Baidu Core beginning April 2017, to reflect the Company’s strategic and operational change to de-emphasize its transaction services business and shift more resources to support its online marketing and other services. iQIYI is an online entertainment service provider that, offers original, professionally produced and partner-generated content on its platform. In early April 2018, iQIYI completed its initial public offering (“IPO”) on the Nasdaq Global Market. The Company’s chief executive officer, who has been identified as the chief operating decision marker (“CODM”), reviews the operating results of Baidu Core and iQIYI, to allocate resources and assess the Company’s performance. Accordingly, the financial statements include segment information which reflects the current composition of the reportable segments in accordance with ASC Topic 280, Segment Reporting. Business Combinations The Company accounts for its business combinations using the purchase method of accounting in accordance with ASC Topic 805, Business Combinations In a business combination achieved in stages, the Company remeasures its previously held equity interest in the acquiree immediately before obtaining control at its acquisition-date fair value and the re-measurement The determination and allocation of fair values to the identifiable assets acquired, liabilities assumed and noncontrolling interests is based on various assumptions and valuation methodologies requiring considerable judgment from management. The most significant variables in these valuations are discount rates, terminal values, the number of years on which to base the cash flow projections, as well as the assumptions and estimates used to determine the cash inflows and outflows. The Company determines discount rates to be used based on the risk inherent in the related activity’s current business model and industry comparisons. Terminal values are based on the expected life of assets, and forecasted cash flows over that period. Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents Cash and cash equivalents primarily consist of cash, money market funds, investments in interest bearing demand deposit accounts, time deposits and highly liquid investments with original maturities of three months or less from the date of purchase and are stated at cost which approximates their fair value. Restricted cash Restricted cash mainly consists of the cash reserved in escrow accounts at certain banks as online payment service deposits and cash pledged for bank loan facility. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash end-of-period Accounts Receivable, net of allowance Accounts receivable are recognized and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. An estimate for doubtful debts is made when collection of the full amount is no longer probable. Receivable balances are written off when they are deemed uncollectible. The Company generally does not require collateral from its customers. The Company maintains allowances for doubtful accounts for estimated losses resulting from the failure of customers to make payments on time. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, the customer’s payment history, its current credit-worthiness and current economic trends. Receivables from Online Payment Agencies, net of allowance Receivables from online payment agencies are funds due from the third-party online payment service providers for clearing transactions. Funds were paid or deposited by customers or users through these online payment agencies for services provided by the Company. The Company carefully considers and monitors the credit worthiness of the third-party payment service providers used. An allowance for doubtful accounts is recorded in the period in which a loss is determined to be probable. Receivable balances are written off when they are deemed uncollectible. The balances are included in “Other current assets, net” on the consolidated balance sheets. As of December 31, 2017 and 2018, no allowance for doubtful accounts was provided for the receivables from online payment agencies. Loan and Interest Receivables, net of allowance Loan and interest receivables consist primarily of micro loans to individual borrowers. Such amounts are recorded at the principal net of allowance for credit losses relating to micro loans, and include accrued interest receivable as of the balance sheet date. The loan periods granted by the Company to the borrowers related to the micro loans generally range from one month to thirty-six Allowance for credit losses relating to micro loans represent the Company’s best estimate of the losses inherent in the outstanding portfolio of loans. Judgment is required to determine the allowance amounts and whether such amounts are adequate to cover potential credit losses, and periodic reviews are performed to ensure such amounts continue to reflect the best estimate of the losses inherent in the outstanding portfolio of debts. The Company bases the allowance for loan and interest receivables credit losses primarily on historical loss experience using a roll rate-based model applied to the loan and interest receivables portfolios. The Company considers many factors, including but not limited to, the age of the amounts due, the payment history, the month of origination, the purpose of the loans, creditworthiness, financial conditions of the borrower, terms of the loans, regulatory environment, and the general economic conditions. In August 2018, the Company completed the divestiture of its financial services business, and related loan and interest receivable balances were derecognized from the consolidated balance sheet upon disposal (Note 4). Investments Short-term All highly liquid investments with original maturities of greater than three months, but less than twelve months, are classified as short-term investments. Investments that are expected to be realized in cash during the next twelve months are also included in short-term investments. The Company accounts for short-term debt investments in accordance with ASC Topic 320, Investments—Debt Securities . “held-to-maturity,” “available-for-sale,” Securities that the Company has positive intent and ability to hold to maturity are classified as held-to-maturity held-to-maturity Securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities, in accordance with ASC 320. Unrealized holding gains and losses for trading securities are included in earnings. Debt investments not classified as trading or as held-to-maturity available-for-sale available-for-sale Other invested securities Other invested securities represent investments purchased by the Company for its financial services business and are resold to third-party investors. These transactions do not meet the requirements of asset derecognition in accordance with ASC Topic 860, Transfers and Servicing . Long-term investments The Company’s long-term investments consist of equity investments with and equity investments without readily determinable fair value, equity method investments, available-for-sale Prior to adopting ASC Topic 321, Investments—Equity Securities 325-20, Investments-Other: Cost Method Investments Management regularly evaluates the impairment of the cost method investments based on the performance and financial position of the investee as well as other evidence of market value. Such evaluation includes, but is not limited to, reviewing the investee’s cash position, recent financing, projected and historical financial performance, cash flow forecasts and financing needs. An impairment loss is recognized in earnings equal to the excess of the investment’s cost over its fair value at the balance sheet date of the reporting period for which the assessment is made. The fair value would then become the new cost basis of the investment. Subsequent to the Company’s adoption of ASC 321 on January 1, 2018, the cumulative effect of RMB1.9 billion (US$270 million) representing the unrealized gains and losses of available-for-sale Fair Value Measurements and Disclosures Pursuant to ASC 321, for equity investments measured at fair value with changes in fair value recorded in earnings, the Company does not assess whether those securities are impaired. For those equity investments that the Company elects to use the measurement alternative, the Company makes a qualitative assessment of whether the investment is impaired at each reporting date. If a qualitative assessment indicates that the investment is impaired, the entity has to estimate the investment’s fair value in accordance with the principles of ASC 820. If the fair value is less than the investment’s carrying value, the entity has to recognize an impairment loss in net income equal to the difference between the carrying value and fair value. Available-for-sale Investments in entities in which the Company can exercise significant influence but does not own a majority equity interest or control are accounted for using the equity method of accounting in accordance with ASC Topic 323, Investments-Equity Method and Joint Ventures The Company evaluates the equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. Factors considered by the Company when determining whether an investment has been other-than-temporarily-impaired, includes, but not limited to, the length of the time and the extent to which the market value has been less than cost, the financial performance and near-term prospect of the investee, and the Company’s intent and ability to retain the investment until the recovery of its cost. An impairment loss on the equity method investments is recognized in earnings when the decline in value is determined to be other-than-temporary. In accordance with ASC 946-320 Financial Services—Investment Companies, Investments—Debt and Equity Securities, re-measured Transfers of Financial Assets The Company accounts for the transfers of financial assets in accordance with ASC 860. Financial assets are derecognized from the Company’s consolidated balance sheets if the transfer qualifies as sales. If the conditions for sale required by ASC 860 are not met, the transfer is considered to be a secured borrowing included in “Amounts due to the third-party investors” on the consolidated balance sheets. The assets remain on the consolidated balance sheets as “Other invested securities” and the sale proceeds are recognized as the Company’s liability. All other invested securities and liability balances were derecognized from the consolidated balance sheet upon disposal of the financial services business (Note 4). Fair Value Measurements of Financial Instruments Financial instruments are in the form of cash and cash equivalents, restricted cash, short-term investments, other invested securities, accounts receivable, loan and interest receivables, amounts due from and due to related parties, other receivables, long-term investments, short-term loans, accounts payable and accrued liabilities, customer advances and deposits, derivative instruments, notes payable, convertible senior notes and long-term loans. The carrying values of the aforementioned financial instruments included in current assets and liabilities approximate their respective fair values because of their general short maturities. The carrying amounts of long-term loans approximate fair values as the related interest rates approximate rates currently offered by financial institutions for similar debt instruments of comparable maturities. Fixed Assets Fixed assets are stated at cost less accumulated depreciation. Depreciation is recorded on a straight-line basis over the shorter of the estimated useful lives of the assets or the term of the related lease, as follows: Office building – 43 to 45 years Office building related facility, machinery and equipment – 15 years Computer equipment – 3 to 5 years Office equipment – 3 to 5 years Vehicles – 5 years Leasehold improvements – over the shorter of lease terms or estimated useful lives of the assets Fixed assets have no estimated residual value except for the office building and its related facility, machinery and equipment, which have an estimated residual value of 4% of the cost. Repair and maintenance costs are charged to expense as incurred, whereas the cost of renewals and betterments that extend the useful life of fixed assets are capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the asset and accumulated depreciation accounts with any resulting gain or loss reflected in earnings. All direct and indirect costs that are related to the construction of fixed assets and incurred before the assets are ready for their intended use are capitalized as construction in progress. Construction in progress is transferred to specific fixed assets items and depreciation of these assets commences when they are ready for their intended use. Interest costs are capitalized if they are incurred during the acquisition, construction or production of a qualifying asset and such costs could have been avoided if expenditures for the assets have not been made. Capitalization of interest costs commences when the activities to prepare the asset are in progress and expenditures and borrowing costs are being incurred. Interest costs are capitalized until the assets are ready for their intended use. Interest costs capitalized for the years ended December 31, 2016, 2017 and 2018 were insignificant. Licensed Copyrights Licensed copyrights consist of professionally-produced content such as movies, television series, variety shows, sports and other video content acquired from external parties. The license fees are capitalized and, unless prepaid, a corresponding liability recorded when cost of the content is known, the content has been accepted by us in accordance with the conditions of the license agreement and the content is available for its first showing on our internet platform. Licensed copyrights are carried at the lower of unamortized cost or net realizable value. The current and non-current portions non-exclusive and non-exclusive Non-exclusive licensed Other non-exclusive licensed certain non-episodic features, Accounting Changes and Error Corrections The purchase cost of exclusive licensed copyrights includes the right to broadcast and the right to sublicense to third parties. The Company allocates content cost to these two rights when the exclusive licensed copyrights are initially recognized, based on the relative proportion of our estimate of the total revenues that will be generated by each right. Content costs related to the broadcasting right, which is the portion of an exclusive licensed copyright that generates direct and indirect advertising and membership revenues, are amortized in accordance with ASC Subtopic 920-350, Entertainment-Broadcasters: Intangibles—Goodwill and Other (“ASC 920-350”), as non-exclusive licensed Entertainment—Films On a periodic basis, the Company evaluates the program usefulness of the broadcasting rights of its licensed copyrights and record such rights at the lower of unamortized cost or estimated net realizable value pursuant to the guidance in ASC 920-350. When Net realizable value is determined by estimating the expected cash flows generated from the provision of online advertising and membership services, less any direct costs, over the remaining useful lives of non-exclusive licensed Entertainment—Films: Other Assets—Film Costs Goodwill and Intangible Assets Goodwill The Company assesses goodwill for impairment in accordance with ASC Subtopic 350-20, Intangibles—Goodwill and Other: Goodwill 350-20. The Company has the option to assess qualitative factors first to determine whether it is necessary to perform the two-step 350-20. more-likely-than-not two-step two-step The Company performed qualitative assessments for the reporting unit of Baidu Core in 2017 and 2018. Based on the requirements of ASC 350-20, more-likely-than-not The Company elected to assess goodwill for impairment using the two-step process Intangible assets Intangible assets with finite lives are carried at cost less accumulated amortization. Land use rights are amortized using a straight-line method over the shorter of their estimated useful lives or the terms of the related land use right contracts. All other intangible assets with finite lives are amortized using the straight-line method over the estimated useful lives, except for the sublicensing rights and certain licensed copyrights. Intangible assets have weighted average useful lives from the date of purchase as follows: Land use rights – 50 years Customer relationships – 3 years Software – 5 years Trademarks – 9 years User list – 3 years Licensed copyrights of video contents – 3 years Others – 6 years Intangible assets with an indefinite useful life are not amortized and are tested for impairment annually or more frequently if events or changes in circumstances indicate that they might be impaired in accordance with ASC Subtopic 350-30, Intangibles-Goodwill and Other: General Intangibles Other than Goodwill Produced Content, net The Company produces and contracts external parties to produce films and episodic series to exhibit on its websites. Produced content includes direct production costs, production overhead and acquisition costs and is stated at the lower of unamortized cost or estimated fair value. Produced content also includes cash expenditures made to acquire a proportionate share of certain rights to films including profit sharing, distribution and/or other rights. Produced content exceeding the total revenues to be earned (“ultimate revenue”) is expensed as cost of revenues. The Company uses the individual-film-forecast-computation method and amortizes the produced content based on the ratio of current period actual revenue (numerator) to estimated remaining unrecognized ultimate revenue as of the beginning of the fiscal year (denominator) in accordance with ASC 926-20. The Company reviews unamortized produced content costs for impairment whenever events or circumstances indicate that the fair value of the produced content may be less than its unamortized cost. Produced content was presented as “Other non-current Impairment of Long-Lived Assets Other Than Goodwill The Company evaluates long-lived assets, such as fixed assets and purchased or internally developed intangible assets with finite lives, for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable in accordance with ASC Topic 360, Property, Plant and Equipment Revenue Recognition The Company adopted ASC Topic 606 Revenue from Contracts with Customers Revenue Recognition Revenue is recognized when control of promised goods or services is transferred to the Company’s customers in an amount of consideration to which an entity expects to be entitled to in exchange for those goods or services. Starting from January 1, 2018, value added taxes (“VAT”) was reclassified from cost of revenue to net against revenues in accordance with ASC 606. The Company recognized VAT of RMB3.9 billion, RMB4.8 billion and RMB6.1 billion (US$884 million) for the years ended December 31, 2016, 2017 and 2018, respectively. Other than the presentation of VAT, the impact from adopting ASC 606 was not material to the Company’s consolidated financial statements as of and for the year ended December 31, 2018. The following table presents the Company’s revenues disaggregated by revenue source: For the years ended December 31, December 31, December 31, December 31, RMB RMB RMB US$ (In millions) Online marketing 64,525 73,146 81,912 11,914 iQIYI membership service 3,759 6,532 10,603 1,542 iQIYI content distribution 501 1,192 2,163 315 Interest income earned from provision of financial services 222 1,658 1,724 251 Others 1,542 2,281 5,875 854 Other revenue 6,024 11,663 20,365 2,962 Total revenue 70,549 84,809 102,277 14,876 The Company’s revenue recognition policies effective on the adoption date of ASC 606 are as follows: Performance-based online marketing services Cost-per-click The Company’s auction-based P4P platform enables customers to bid for priority placement of their paid sponsored links. The P4P platform enables customers to reach users who search for information related to their products or services. The P4P services include search-based online marketing services and feed-based online marketing services. The P4P online marketing customers may choose to set a daily limit on the amount spent and may also choose to target only users accessing our website from specified regions in China and/or during a specific time period of the day. Besides the Company’s traditional search-based P4P services, the Company also displays feed-based marketing to target the right feed users based on user data on the Company’s platform. Customers pay the Company when a targeted user clicks the feed-based marketing and are directed to its platforms. Revenue is recognized when all of the revenue recognition criteria are met, which is generally when a user clicks on one of the customer-sponsored links or feed-based marketing. Other performance-based online marketing services To the extent the Company provides online marketing services based on performance criteria other than cost-per-click, the pre-determined ratios Display advertisements The Company provides display-based online advertising services to its customers by integrating text description, image and video, and displaying the advertisement in a prominent position of the search result page, vertical search products or Baidu Feed. The Company recognizes revenue on a pro-rata Online marketing services involving Baidu Union Baidu Union is a program through which the Company expands distribution of its customers’ sponsored links or advertisements by leveraging the traffic of Baidu Union partners’ internet properties. The Company makes payments to Baidu Union partners for the acquisition of traffic. The Company is the principal in these transactions, as it is primarily responsible for fulfilling the service, has discretion in establishing pricing and controls the advertising inventory before the transfer to customers. Therefore, revenue is recognized on a gross basis on the amount of fees it billed to its customers. Payments made to Baidu Union partners are recorded as traffic acquisition costs, which are included in “Cost of revenues” in the consolidated statements of comprehensive income. Membership services The Company offers membership services that provide subscribing members access to stream a library of premium content or personal cloud service in exchange for upfront non-refundable Content distribution The Company generates revenues from sub-licensing sub-license non-exclusive sub-license sub-licensee sub-licensing sub-license sub-licensing sub-licensee sub-license The Company also enters into nonmonetary transactions to exchange online broadcasting rights of licensed copyrights with other online video broadcasting companies from time to time. The exchanged licensed copyrights provide rights for each party to broadcast the licensed copyrights received on its own website only. Each transferring party retains the right to continue broadcasting the exclusive content on its own website and/or sublicense the rights to the content it surrendered in the exchange. The Company accounts for these nonmonetary exchanges in accordance with ASC 606, and records the transaction based on the fair value of the asset received starting from January 1, 2018. Barter sublicensing revenue are recognized in accordance with the same ASC 606 criteria above. The Company estimates the fair value of the licensed copyrights received based on various factors, including broadcasting schedule, cast and crew, theme and popularity, box office and market share of counterparties to the exchange. The attributable cost of cash sublicensing transactions, whether for cash or through nonmonetary exchanges, is recognized as cost of revenues through the amortization of the sublicensing right component of the exclusive licensed copyright, computed using the individual-film-forecast-computation method in accordance with ASC 926. The Company recognized barter sublicensing revenues of RMB382 million, RMB763 million and RMB1.1 billion (US$158 million) and related costs of RMB363 million, RMB650 million and RMB1.0 billion (US$149 million) for the years ended December 31, 2016, 2017 and 2018, respectively. Barter transactions The Company engages in certain barter transactions other than licensed copyrights of video contents, such as advertising, from time to time. The transaction price of the nonmonetary consideration is measured at fair value at contract inception. If fair value cannot be reasonably estimated, the Company measures the consideration indirectly by reference to the standalone selling price of the services promised to the customer in exchange for the consideration. Revenues recognized on advertising barter transactions were immaterial for the years ended December 31, 2016, 2017 and 2018. Financial services The Company offers financial services which include provision of installment payment services to consumers and wealth management services to third-party investors. Interest income earned from provision of financial services is reported as “Other revenues” and reported on a net basis after deduction of related interest costs incurred. The Company recognized gross interest income of RMB3.5 billion and RMB3.3 billion (US$483 million) and interest costs of RMB1.9 billion and RMB1.6 billion (US$232 million) for the years ended December 31, 2017 and 2018, respectively. Gross interest income and interest costs recognized for the year ended December 31, 2016 were insignificant. The financial services business was disposed of in August 2018 (Note 4). Other revenue recognition related policies For arrangements that include multiple performance obligations, primarily for advertisements to be displayed in different spots, placed under different forms and displayed at different times, the Company would evaluate all the performance obligations in the arrangement to determine whether each performance obligation is distinct. Consideration is allocated to each performance obligation based on its standalone selling price. If a promised good or service does not meet the criteria to be considered distinct, it is combined with other promised goods or services until a distinct bundle of goods or services exists. Timing of revenue recognition may differ from the timing of invoicing to customers. For certain services customers are required to pay before the services are delivered to the customer. When either party to a revenue contract has performed, the Company recognizes a contract asset or a contract liability in the consolidated balance sheet, depending on the relationship between the entity’s performance and the customer’s payment. Contract liabilities were mainly related to fees for membership services to be provided over the membership period, which were presented as deferred revenue on the consolidated balance sheets. The increase in deferred revenue as compared to the year ended December 31, 2017 is a result of the increase in consideration received from the Company’s customers. The opening balance of contract assets were RMB832 million as of January 1, 2018. As of December 31, 2018, contract assets of RMB1.4 billion (US$206 million), net of allowance for doubtful accounts of RMB21 million (US$3 million) were recognized and included in “Other current assets, net” on the consolidated balance sheet. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed. The Company provides sales incentives to customers which entitle them to receive reductions in the price of the online marketing services by meeting certain cumulative consumption requirements. The Company accounts for these incentives granted to customers as variable consideration and net against revenue. The amount of variable consideration is measured based on the most likely amount of incentives to be provided to customers. Cost of Revenues Cost of revenues consists primarily of traffic acquisition costs, bandwidth costs, depreciation, content costs, payroll and related costs of operations. Starting from January 1, 2018, VAT was recorded net against revenue instead of as cost of revenue. Traffic acquisition costs represent the amounts paid or payable to Baidu Union partners who direct search queries to the Company’s websites or distribute the Company’s customers’ paid links through their properties. These payments are primarily based on revenue sharing arrangements under which the Company pays its Baidu Union partners and other business partners a percentage of the fees it earns from its online marketing customers. Advertising and Promotional Expenses Advertising and promotional expenses, including advertisements through various forms of media and kinds of marketing and promotional activities, are included in “Selling, general and administrative expense” in the consolidated statements of comprehensive income (loss) and are expensed when incurred. Advertising and promotional expenses for the years ended December 31, 2016, 2017 and 2018 were RMB7.7 billion, RMB4.6 billion and RMB10.1 billion (US$1.5 billion), respectively. Government Subsidies Government subsidies primarily consist of financial subsidies received from provincial and local governments for operating a business in their jurisdictions and compliance with specific policies promoted by the local governments. For certain government subsidies, there are no defined rules and regulations to govern the criteria necessary for companies to receive such benefits, and the amount of financial subsidy is determined at the discretion of the relevant government authorities. The government subsidies of non-operating non-operating Leases Leases are classified as either capital or operating leases. Leases that transfer substantially all the benefits and risks incidental to the ownership of assets are accounted for as capital leases as if there was an acquisition of an asset and incurrence of an obligation at the inception of the lease. All other leases are accounted for as operating leases wherein rental payments are expensed as incurred. Income Taxes The Company recognizes income taxes under the liability method. Deferred income taxes are recognized for differences between the financial reporting and tax bases of assets and liabilities at enacted tax rates in effect for the years in which the differences are expected to reverse. The Company records a valuation allowance against the amount of deferred tax assets that it determines is not more-likely-than-not The Company applies the provisions of ASC Topic 740, Income Taxes Share-based Compensation The Company accounts for share-based compensation in accordance with ASC Topic 718, Compensation-Stock Compensation Forfeitures are estimated based on historical experience and are periodically reviewed. Cancellation of an award accompanied by the concurrent grant of a replacement award is accounted for as a modification of the terms of the cancelled award (“modified aw |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2018 | |
Business Combinations [Abstract] | |
Business Combinations | 3. BUSINESS COMBINATIONS Business combinations in 2018: During the year ended December 31, 2018, the Company completed several business combinations, to complement its existing businesses and achieve synergies. The acquired entities individually and in aggregate were in significant. Results of the acquired entities’ operations have been included in the Company’s consolidated financial statements since the acquisition dates. RMB US$ (In millions) Purchase consideration 2,378 346 Net assets acquired, excluding intangible assets and the related deferred tax liabilities 1,545 225 Intangible assets, net 1,424 207 Deferred tax liabilities (292 ) (42 ) Pre-existing (1,651 ) (240 ) Noncontrolling interests (1,312 ) (191 ) Redeemable noncontrolling interests (Note 16) (698 ) (102 ) Goodwill 3,362 489 2,378 346 The aggregate purchase price allocation includes acquisition of certain acquirees, which were equity method investees of the Company prior to the acquisitions. In aggregate, a re-measurement pre-existing Goodwill, which is non-deductible for tax purpose, is primarily attributable to the synergies expected to be achieved from the acquisitions. Neither the results of operations since the acquisition dates nor the pro forma results of operations of the acquirees were presented because the effects of these business combinations, individually and in the aggregate, were not significant to the Company’s consolidated results of operations. The valuations used in the purchase price allocation described above were determined by the Company with the assistance of independent third party valuation firms. The valuation reports considered generally accepted valuation methodologies such as the income, market and cost approaches. As the acquirees are all private companies, the fair value estimates of pre-existing |
Investments
Investments | 12 Months Ended |
Dec. 31, 2018 | |
Investments Schedule [Abstract] | |
Investments | 4. INVESTMENTS Short-term Investments As of December 31, 2018, the Company’s short-term investments comprised of only debt securities. All of the short-term held-to-maturity available-for-sale During the years ended December 31, 2016, 2017 and 2018, the Company recorded interest income from its short-term investments of RMB2.3 billion, RMB3.0 billion and RMB3.9 billion (US$564 million) in the consolidated statements of comprehensive income, respectively. Long-term Investments Equity investments at fair value with readily determinable fair value Equity investments at fair value with readily determinable fair value represent investments in the equity securities of publicly listed companies for which the Company does not have significant influence. The equity investments were accounted for as available-for-sale Equity investments at fair value without readily determinable fair value Equity investments at fair value without readily determinable fair value were accounted as cost method investments prior to adopting ASC 321. As of December 31, 2017, the carrying amount of the Company’s cost method investments was RMB21.8 billion. In accordance with ASC 321, the Company elected to use the measurement alternative to measure such investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. As of December 31, 2018, the carrying amount of the Company’s equity investments measured at fair value using the measurement alternative was RMB29.3 billion (US$4.3 billion), net of RMB1.3 billion (US$191 million) in accumulated impairment. Impairment charges recognized on equity investments measured at fair value using the measurement alternative was RMB455 million (US$66 million) for the year end December 31, 2018. During the year ended December 31, 2018, certain equity investments were remeasured based on observable price changes in orderly transactions for an identical or similar investment of the same issuer, the aggregate carrying amount of these investments was RMB21.6 billion (US$3.1 billion) as of December 31, 2018. Total unrealized and realized gains and losses of equity securities without readily determinable fair values in 2018 were as follows: For the year ended RMB US$ (In millions) Gross unrealized gains (upward adjustments) 7,119 1,035 Gross unrealized losses (downward adjustments excluding impairment) (2,412 ) (351 ) Net unrealized gains and losses on equity securities held 4,707 684 Net realized gains on equity securities sold 124 18 Total net gains recognized in other income, net 4,831 702 In 2016, the Company exchanged its equity shares of Uber (Cayman), Ltd. (“Uber China”), with Xiaoju Kuaizhi, Inc. (“Didi”), a China based ridesharing company, upon the merger of the two companies. The Company recognized a total gain of RMB2.0 billion in “Other income, net” and the retained investment in Didi was accounted for as a cost method investment. After the adoption of ASC 321, this investment is measured at fair value using the measurement alternative. In May 2017, the Company completed the disposal of its mobile game business to third-party companies, a total gain of RMB923 million was recognized in “Other income, net.” In August 2017, the Company completed the disposal of Xiaodu Life Technology Ltd (“Xiaodu”), a former subsidiary of the Company primarily engaged in the business of takeout delivery services, to Rajax Holding, a China based delivery company. The Company recognized a total gain of RMB4.6 billion in “Other income, net” in 2017. In October 2017, the Company completed the share purchase transaction of China United Network Communication Limited (“China Unicom”), listed telecommunications company in China. The total purchase consideration was RMB7.0 billion in cash with RMB4.0 billion attributable to noncontrolling interest. The investment in China Unicom was held by a non-wholly-owned Equity method investments Equity Investment in Ctrip.com International, Ltd. (“Ctrip”) As of December 31, 2018, the Company held approximately 19% of Ctrip’s outstanding shares, which had a fair value of RMB19.6 billion (US$2.8 billion) as of December 31, 2018 , based on the market closing price. The Company is considered to have significant influence over Ctrip and accounts for such investment as an equity method investment in accordance with ASC 323. As of December 31, 2018, the market value of the Company’s investment in Ctrip, based on the market closing price, was below its carrying value. The Company evaluated the investment in Ctrip for impairment, taking into consideration, including, but not limited to, the duration, degree and causes of the decline in stock price, the Company’s intent and ability to hold the investment, recoveries in market price subsequent to the balance sheet date, and Ctrip’s financial performance and near-term prospects. Based on the evaluation, the Company concluded that the decline in market value of the investment in Ctrip did not meet the threshold of other-than-temporary. The following tables set forth the summarized financial information of Ctrip: As of September 30, (i) 2017 (ii) 2018 2018 RMB RMB US$ (In millions) Current assets 63,241 84,464 12,285 Non-current 99,986 104,906 15,258 Current liabilities 41,972 69,065 10,045 Non-current 37,590 30,318 4,410 Noncontrolling interests 1,935 2,231 324 For the twelve months ended September 30, (i) 2016 (ii) 2017 (ii) 2018 (ii) 2018 (ii) RMB RMB RMB US$ (In millions) Total revenues 17,642 25,731 29,944 4,355 Gross profit 12,669 20,725 24,019 3,493 (Loss) income from operations (1,681 ) 2,626 3,302 480 Net (loss) income (2,177 ) 2,282 2,807 408 Net (loss) income attributable to the investees (2,000 ) 2,284 2,806 408 (i) The Company adopted a one-quarter (ii) Ctrip adopted ASC 606 (on a fully retrospective basis) and ASC 321 (collectively “new standards”) from January 1, 2018. The impact of the new standards on the Company’s financial statement is immaterial, and the prior period financial information of Ctrip was not restated. Disposal of financial services business In April 2018, the Company entered into definitive agreements relating to the disposal of its wholly-owned financial services business, which provided consumer credit, wealth management and other financial services. To facilitate the divestiture, the Company conducted a series of legal restructuring and recapitalization of entities conducting the financial services business (“Du Xiaoman”), which were accounted for as transactions under common control. In August 2018, Du Xiaoman issued preferred shares to third-party investors, which resulted in the Company becoming a minority shareholder of Du Xiaoman. Accordingly, Du Xiaoman was deconsolidated from the Group and a disposal gain of RMB5.5 billion (US$803 million) was recognized in “Other income, net,” including RMB4.2 billion (US$604 million) relates to the re-measurement of the Company’s retained investment in Du Xiaoman. The disposal of Du Xiaoman did not meet the definition of a discontinued operation per ASC Subtopic 205-20, Presentation of Financial Statements—Discontinued Operations The Company retained an equity interest of 41% on a fully diluted basis, and accounted for Du Xiaoman as an equity method investment in accordance with ASC 323, as it retained significant influence over Du Xiaoman. The carrying amount of the Du Xiaoman investment in excess of the Company’s proportionate interest in Du Xiaoman was recognized as equity method goodwill of RMB3.5 billion (US$512 million), intangible assets of RMB851 million (US$124 million) and related deferred tax liabilities of RMB213 million (US$31 million). During the year ended December 31, 2016, the Company derecognized a group of assets sold to a third party and deconsolidated several subsidiaries due to the loss of a controlling equity interest in the subsidiary or substantive participating rights granted to other minority shareholders of the subsidiaries. An aggregate gain of RMB1.4 billion was recognized in “Other income, net” during the year ended December 31, 2016 accordingly. The Company’s retained interest in these subsidiaries were accounted for as equity method investments. As of December 31, 2017 and 2018, in addition to the aforementioned equity method investments, the Company held other equity method investments through its subsidiaries or VIEs and over which had significant influence. The carrying amount of the Company’s equity method investments, including Ctrip, was RMB31.4 billion and RMB44.1 billion (US$6.4 billion) as of December 31, 2017 and 2018, respectively (see also Note 20). For the year ended December 31, 2018, equity method investments excluding Ctrip held by the Company in aggregate have met the significance criteria as defined under Rule 4-08(g) of Regulation S-X. As of September 30, (i) 2017 (ii) 2018 (ii) 2018 (ii) RMB RMB US$ (In millions) Current assets 4,914 100,313 14,590 Non-current 653 11,050 1,607 Current liabilities 579 78,935 11,481 Non-current 21 2,718 395 Noncontrolling interests 2 1,706 248 For the twelve months (i) 2016 (ii) 2017 (ii) 2018 (ii) 2018 (ii) RMB RMB RMB US$ (In millions) Total revenues 963 1,681 4,633 674 Gross profit 290 671 916 133 Loss from operations (359 ) (303 ) (418 ) (61 ) Net loss (373 ) (310 ) (372 ) (54 ) Net loss attributable to the investees (396 ) (311 ) (352 ) (51 ) (i) The Company adopted a one-quarter (ii) Financial information of equity method investees were presented under legacy GAAP, the impact of the new standards on the Company’s financial statements is insignificant. Investment accounted for at fair value Long-term equity investments in unlisted companies held by consolidated investment companies are accounted for at fair value in accordance with ASC Subtopic 946-320, Financial Services—Investment Companies, Investments—Debt and Equity Securities The methodology used in the determination of fair values for held-to-maturity available-for-sale Investments classification as of December 31, 2017 and 2018 were shown as below: As of December 31, 2017 Cost or cost Gross gains Gross Gross Gross Fair value RMB RMB RMB RMB RMB RMB (In millions) Short-term investments Held-to-maturity 48,666 47 (18 ) — — 48,695 Available-for-sale 40,139 — — 581 (5 ) 40,715 Other invested securities 18,289 — — 169 (108 ) 18,350 Long-term investments Available-for-sale 2,077 — — 742 (46 ) 2,773 Investments accounted for at fair value 307 — — 14 — 321 As of December 31, 2018 Cost or Gross unrecognized gains Gross Gross Gross Fair value RMB RMB RMB RMB RMB RMB US$ (In millions) Short-term investments Held-to-maturity 27,388 119 — — — 27,507 4,001 Available-for-sale 83,100 — — 1,216 (78 ) 84,238 12,252 Long-term investments Equity investments at fair value with readily determinable fair value 5,605 — — 664 (1,841 ) 4,428 644 Available-for-sale 1,167 — — — — 1,167 170 Investments accounted for at fair value 1,139 — — 318 — 1,457 212 |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Accounts Receivable | 5. ACCOUNTS RECEIVABLE As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Accounts receivable 4,887 6,614 962 Allowance for doubtful accounts (316 ) (599 ) (87 ) 4,571 6,015 875 The movements in the allowance for doubtful accounts were as follows: 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Balance as of January 1 190 177 316 46 Amounts charged to expenses 39 190 299 43 Amounts written off (52 ) (51 ) (16 ) (2 ) Balance as of December 31 177 316 599 87 |
Other Current Assets
Other Current Assets | 12 Months Ended |
Dec. 31, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Current Assets | 6. OTHER CURRENT ASSETS As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Prepaid expenses 398 658 96 Advances to suppliers 764 1,686 245 Receivables from online payment agencies 312 892 130 Deposits 204 247 36 Licensed copyrights 819 1,176 171 Contract assets, net — 1,415 206 Others 928 767 111 3,425 6,841 995 |
Fixed Assets
Fixed Assets | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Fixed Assets | 7. FIXED ASSETS As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Computer equipment 18,354 26,186 3,809 Office building 4,003 4,168 606 Office building related facility, machinery and equipment 1,956 2,168 315 Vehicles 80 190 28 Office equipment 690 813 118 Leasehold improvements 341 352 51 Construction in progress 680 720 105 26,104 34,597 5,032 Accumulated depreciation and impairment (13,629 ) (16,694 ) (2,428 ) 12,475 17,903 2,604 The Company entered into capital leases for certain computer servers and equipment. The gross amount and the accumulated depreciation of these servers and equipment were RMB198 million and RMB198 million, respectively, as of December 31, 2017 and RMB201 million (US$29 million) and RMB201 million (US$29 million), respectively, as of December 31, 2018. Depreciation expense of the fixed assets, including assets under capital leases, was RMB3.4 billion, RMB3.8 billion and RMB3.7 billion (US$536 million) for the years ended December 31, 2016, 2017 and 2018, respectively. The Company recognized impairment charges on fixed assets of nil, RMB70 million and nil for the years ended December 31, 2016, 2017 and 2018, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | 8. GOODWILL AND INTANGIBLE ASSETS Goodwill The Company had three reporting units as of December 31 2016. Starting from April 2017, Search Services and Transaction Services were combined into one reporting unit, namely, Baidu Core, resulting in two reporting units, Baidu Core and iQIYI, as of December 31, 2017 and 2018. The changes in the carrying amount of goodwill for each reporting unit from December 31, 2016 to March 31, 2017 were as follows: Search Services Transaction iQIYI Total RMB RMB RMB RMB (In millions) Balance at December 31, 2016 10,785 1,281 3,276 15,342 Goodwill acquired 499 — — 499 Balance at March 31, 2017 11,284 1,281 3,276 15,841 The changes in the carrying amount of goodwill for each reporting unit after March 31, 2017 was as follows: Baidu Core iQIYI Total RMB RMB RMB (In millions) Balance at March 31, 2017 12,565 3,276 15,841 Goodwill acquired 81 — 81 Goodwill disposed (116 ) — (116 ) Balance at December 31, 2017 12,530 3,276 15,806 Goodwill acquired 2,750 612 3,362 Goodwill disposed (569 ) — (569 ) Foreign currency translation and other adjustments (63 ) — (63 ) Balance at December 31, 2018 14,648 3,888 18,536 Balance at December 31, 2018, in US$ 2,130 566 2,696 Intangible Assets As of December 31, 2017 Gross carrying Accumulated Net carrying value RMB RMB RMB (In millions) Land use right 464 (193 ) 271 Customer relationships 463 (463 ) — Software 537 (499 ) 38 Trademarks 579 (464 ) 115 User list 677 (667 ) 10 Licensed copyrights 9,384 (4,826 ) 4,558 Others 1,066 (591 ) 475 13,170 (7,703 ) 5,467 As of December 31, 2018 Gross carrying Accumulated Net carrying Net carrying RMB RMB RMB US$ (In millions) Land use right 464 (199 ) 265 39 Customer relationships 589 (476 ) 113 16 Software 693 (513 ) 180 26 Trademarks 942 (501 ) 441 64 User list 684 (681 ) 3 — Licensed copyrights 18,081 (11,324 ) 6,757 983 Others 2,291 (869 ) 1,422 207 23,744 (14,563 ) 9,181 1,335 The Company recognized impairment loss on intangible assets excluding licensed copyrights of RMB1 million, RMB139 million and RMB5 million (US$0.7 million) for the years ended December 31, 2016, 2017 and 2018, respectively. Amortization expense of intangible assets and licensed copyrights were RMB4.9 billion, RMB7.9 billion and RMB12.5 billion (US$1.8 billion), for the years ended December 31, 2016, 2017 and 2018 respectively. Estimated amortization expense relating to the existing intangible assets with finite lives for each of the next five years is as follows: RMB US$ (In millions) For the years ending December 31, 2019 4,096 596 2020 2,566 373 2021 1,196 174 2022 348 51 2023 308 45 The carrying amounts of intangible assets with an indefinite useful life were insignificant as of December 31, 2017 and 2018. |
Accounts Payable and Accrued Li
Accounts Payable and Accrued Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities | 9. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Accrued payroll and welfare 1,779 1,898 276 Tax payable 2,271 2,342 341 Interest payable 267 382 56 Users’ and distributors’ deposits 563 661 96 Purchase of fixed assets and computer parts 1,592 1,890 275 Traffic acquisition costs 2,482 2,911 423 Bandwidth costs 1,824 2,085 303 Content acquisition costs 5,866 8,873 1,291 Funds collected on behalf of service providers 529 353 51 Payable to merchants 330 340 50 Accrued other operating expenses 7,720 10,680 1,553 Others 2,300 2,966 432 27,523 35,381 5,147 |
Loans Payable
Loans Payable | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Loans Payable | 10. LOANS PAYABLE Short-term Loans Short-term loans as of December 31, 2017 and 2018 amounted to RMB1.2 billion and RMB3.0 billion (US$443 million), respectively, which consisted of RMB denominated borrowings from financial institutions in the PRC and were repayable within one year. As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Secured short-term loans borrowed by iQIYI (i) 299 3,046 443 Unsecured short-term (ii) 945 — — 1,244 3,046 443 (i) The repayment of all short-term loans are guaranteed by subsidiaries of iQIYI and either collateralized by an office building of one of iQIYI’s VIEs with a carrying amount of RMB575 million (US$84 million) as of December 31, 2018 or collateralized by restricted cash balances totaling RMB2.2 billion (US$316 million) as of December 31, 2018. (ii) The loan balance was derecognized from the consolidated balance sheet upon disposal of the financial services business (Note 4). As of December 31, 2017 and 2018, the weighted average interest rates for the outstanding borrowings were approximately 4.86% and 4.47%, respectively, and the aggregate amounts of unused lines of credit for short-term loans were RMB360 million and RMB781 million (US$114 million), respectively. Long-term Loans Baidu In June 2016, the Company entered into a five-year term and revolving facility agreement with a group of 21 syndicated bankers, pursuant to which the Company is entitled to borrow an unsecured US$ denominated floating rate loan of US$1.0 billion with a term of five years and to borrow an unsecured US$ denominated revolving loan of US$1.0 billion for five years. The facility was priced at 110 basis points over LIBOR and is intended for the general working capital of the Company. In June 2016, the Company drew down two tranches of US$250 million each under the facility commitment. In November 2016, the Company drew down another two tranches of US$250 million each under the facility commitment. In connection with the facility agreements, the Company entered into four interest rate swap agreements, pursuant to which the loans would be settled with a fixed annual interest rate of 2.11%, 2.10%, 2.78% and 2.78% respectively, during the respective term of the loans. The interest rate swap agreements met the definition of a derivative in accordance with ASC 815. The derivatives related to the interest rate swap agreements are accounted at fair value and included in “Other non-current iQIYI In April 2017, iQIYI entered into a three-year loan agreement with Bank of China (Shanghai Branch), pursuant to which the Company is entitled to borrow a secured RMB denominated loan of RMB299 million for the general working capital of iQIYI. In April 2017, iQIYI drew down RMB299 million with an interest rate of 4.47%, pursuant to the agreement, the principal shall be repaid by installments from September 2017 to April 2020. RMB15 million was repaid when it became due. The amount repayable within twelve months were classified as “Long-term loans, current portion.” In December 2018, certain supplier invoices selected by iQIYI of RMB525 million (US$76 million) were factored to a financial institution (“the factored receivables”) at a discount. These supplier invoices were recorded as accounts payables in the Company’s consolidated balance sheet. The factored receivables were further transferred to a securitization vehicle, whereby debt securities securitized by the factored receivables. The debt securities were issued to third party investors for the gross proceeds of RMB446 million (US$65 million), with maturities in December 2019 and December 2020. The proceeds raised from issuance of the asset-backed debt securities were used by the financial institution to factor the supplier invoices. At the same time, the credit terms of the iQIYI’s corresponding trade payables were extended to mirror the maturity of the asset-backed debt securities. The securitization vehicle was consolidated because iQIYI was determined to be the primary beneficiary. As of December 31, 2018, the outstanding borrowings from third-party investors was RMB444 million (US$65 million) and the effective interest rate was 7.00%. The balance of RMB74 million (US$11 million) of the loan is repayable within one year and is included in “Long-term loans, current portion” and the remaining balance of RMB370 million (US$54 million) of the loan is included in non-current “Long-term loans” on the consolidated balance sheet. |
Notes Payable
Notes Payable | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Notes Payable | 11. NOTES PAYABLE Baidu, Inc. The Company issued and publicly sold unsecured senior notes, the detail of each tranches are shown as flow: Issue date Principal (US$ million) Mature date Effective 2017 Notes November 28, 2012 750 November 28, 2017 2.36 %* 2022 Ten-year November 28, 2012 750 November 28, 2022 3.59 % 2018 Notes August 6, 2013 1,000 August 6, 2018 3.39 %* 2019 Notes June 9, 2014 1,000 June 9, 2019 3.00 % 2020 Notes June 30, 2015 750 June 30, 2020 3.13 % 2025 Notes June 30, 2015 500 June 30, 2025 4.22 % 2022 Five-year Notes July 6, 2017 900 July 6, 2022 3.08 % 2027 Notes July 6, 2017 600 July 6, 2027 3.73 % 2023 Notes March 29, 2018 1,000 September 29, 2023 3.99 % 2028 March Notes March 29, 2018 500 March 29, 2028 4.50 % 2024 November Notes November 14, 2018 600 May 14, 2024 4.51 % 2028 November Notes November 14, 2018 400 November 14, 2028 4.99 % 2024 December Notes December 10, 2018 250 May 14, 2024 4.54 % * The 2017 Notes and 2018 Notes were fully repaid when they became due. The 2017 Notes, 2018 Notes, 2019 Notes, 2020 Notes, 2022 Ten-year The 2017 Notes bear interest at the rate of 2.25% per annum and the 2022 Ten-year The 2018 Notes bear interest at the rate of 3.25% per annum. Interests are payable semi-annually in arrears on and of each year, beginning on February 6, 2014. The 2019 Notes bear interest at the rate of 2.75% per annum. Interests are payable semi-annually in arrears on and of each year, beginning on December 9, 2014. The 2020 Notes bear interest at the rate of 3.00% per annum and the 2025 Notes bear interest at the rate of 4.13% per annum. Interests are payable semi-annually in arrears on and of each year, beginning on December 30, 2015. The 2022 Five-year Notes bear interest at the rate of 2.88% per annum and the 2027 Notes bear interest at the rate of 3.63% per annum. Interest are payable semi-annually in arrears on and of each year, beginning on January 6, 2018. The 2023 Notes bear interest at the rate of 3.88% per annum and the 2028 March Notes bear interest at the rate of 4.38% per annum. Interest are payable semi-annually in arrears on and of each year, beginning on September 29, 2018. The 2024 November Notes bear interest at the rate of 4.38% per annum and the 2028 November Notes bear interest at the rate of 4.88% per annum. Interest are payable semi-annually in arrears on and of each year, beginning on May 14, 2019. The 2024 December Notes bear interest at the rate of 4.38% per annum. Interest are payable semi-annually in arrears on and of each year, beginning on May 14, 2019. At maturity, the Notes are payable at their principal amount plus accrued and unpaid interest thereon. The Notes do not contain any financial covenants or other significant restrictions. In addition, the Notes are unsecured and rank lower than any secured obligation of the Group and have the same liquidation priority as any other unsecured liabilities of the Group, but senior to those expressly subordinated obligations, if any. The Company may, at its discretion, redeem all or any portion of the Notes at any time, at the greater of the principal amount and the make whole amount plus accrued and unpaid interest. In addition, for the Notes issued during the year ended December 31, 2018, the Company may at its discretion, redeem all or any portion of the Notes at one or three months before the maturity date of respective notes, at a price equal to the greater of 100% of the principal amount of such Notes plus accrued and unpaid interest, if any, to (but not including) the redemption date. As of December 31, 2018, the Company does not intend to redeem any portion of the Notes prior to the stated maturity dates. For certain Notes, the Company has the obligation to redeem the Notes if a change in control occurs as defined in the indenture of the Notes. The unpaid Notes were issued at a discount amounting to RMB160 million (US$25 million). The total issuance costs of RMB225 million (US$35 million) were presented as a direct deduction from the principal amount of the Notes on the consolidated balance sheets. Both the discount and the issuance costs are amortized as interest expense using the effective interest rate method through the maturity dates of the Notes. The principal amount and unamortized discount and debt issuance costs as of December 31, 2017 and 2018 were as follows: As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Principal amount 35,782 49,867 7,253 Unamortized discount and debt issuance costs (171 ) (261 ) (38 ) 35,611 49,606 7,215 The following table summarizes the aggregate required repayments of the principal amounts of the Company’s long-term debts, including the notes payable and loans payable (Note10), in the succeeding five years and thereafter: RMB US$ (In millions) For the years ending December 31, 2019 6,960 1,012 2020 5,801 844 2021 6,876 1,000 2022 11,345 1,650 2023 6,876 1,000 Thereafter 19,595 2,850 |
Convertible Notes
Convertible Notes | 12 Months Ended |
Dec. 31, 2018 | |
Text Block [Abstract] | |
Convertible Notes | 12. CONVERTIBLE NOTES iQIYI 2018 Convertible Notes In January 2017, iQIYI issued US$1.5 billion of convertible notes (the “iQIYI 2018 Convertible Notes”) in a private placement, among which US$300 million was purchased by the Company and the remaining US$1.2 billion was purchased by external investors. The iQIYI 2018 Convertible Notes bear interest at a coupon rate of 1.50% per annum with a maturity date of January 25, 2018. The iQIYI Notes can be converted into preferred shares in a qualified financing or at iQIYI’s election. The conversion option does not meet the definition of a derivative under ASC 815. On October 26, 2017, the US$1.5 billion iQIYI 2018 Convertible Notes and the related accrued interest were converted into 1,014,436,019 iQIYI’s Series G preferred shares. Upon the completion of IPO, all preferred shares were converted into Class A ordinary shares of iQIYI (Note 16). iQIYI 2023 Convertible Notes In December 2018, iQIYI issued US$750 million convertible senior notes due 2023 (“iQIYI 2023 Convertible Notes”). The iQIYI 2023 Convertible Notes are senior, unsecured obligations of iQIYI, and interest is payable semi-annually in cash at a rate of 3.75% per annum with a maturity date of December 1, 2023, unless previously repurchased, redeemed or converted prior to such date. The initial conversion rate of the iQIYI 2023 Convertible Notes is 37.1830 of iQIYI’s ADSs per US$1,000 principal amount of the iQIYI 2023 Convertible Notes. Upon conversion, the Company will pay or deliver to such converting holders, as the case may be, cash, ADSs, or a combination of cash and ADSs, at its election. Concurrently with the issuance of the iQIYI 2023 Convertible Notes, iQIYI purchased a call option on the Company’s ADS with certain counterparties at a price of US$68 million. The capped call exercise price is equal to the initial conversion price of the iQIYI 2023 Convertible Notes and the cap price is US$38.42 per ADS, subject to certain adjustments under the terms of the capped call transactions. The cost of the capped call was recorded as a reduction of the Company’s additional paid-in As the conversion option may be settled entirely or partially in cash at iQIYI’s option, the Company separated the iQIYI 2023 Convertible Notes into liability and equity components in accordance with ASC 470-20, Debt with Conversion and Other Options paid-in As of December 31, 2018, the principal amount of the liability component was RMB5.2 billion (US$750 million), unamortized debt discount was RMB446 million (US$65 million). The carrying amount of the equity component was RMB362 million (US$53 million). |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 13. INCOME TAXES Cayman Islands and BVI Under the current laws of the Cayman Islands and BVI, the Company is not subject to tax on income or capital gains. Additionally, upon payments of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed. Hong Kong Subsidiaries in Hong Kong are subject to Hong Kong Profits Tax rate at 16.5%. They may be exempted from income tax on their foreign-derived income and there are no withholding taxes in Hong Kong on remittance of dividends. Japan As a result of the Japanese tax regulations amendments, the effective income tax rate are approximately 33%, 32% and 31% for the years ended December 31, 2016, 2017 and 2018, respectively. China Effective from January 1, 2008, the PRC’s statutory, Enterprise Income Tax (“EIT”) rate is 25%. Preferential EIT rates at 15% and 10% are available for qualified “High and New Technology Enterprises” (“HNTEs”) and “Key Software Enterprise” (“KSE”), respectively. The HNTE certificate is effective for a period of three years and the KSE is subject to relevant governmental authorities’ annual assessment based on self-assessment supporting documents filed with the tax authorities each year. Baidu Online, Baidu China and Baidu International enjoyed a reduced tax rate of 10% as qualified KSEs in 2016 and 2017. Certain other PRC subsidiaries and VIEs, including Baidu Netcom, are qualified HNTEs and enjoy a reduced tax rate of 15% for the years presented, which will expire in 2019, 2020 and 2021. An entity must file required supporting documents with the tax authorities before using the preferential rates. Whether the entity is entitled to enjoy a preferential rate as a KSE is subject to relevant governmental authorities’ assessment each year. An entity could re-apply re-applied A certificate for the current year might be obtained in the following year as a result of the stringent inspection and approval process by the governmental authorities. The Company would record an income tax reversal in the year when the certificate is obtained for the over-paid or over-accrued provisional tax in connection with the grant of a more favorable tax rate for the prior year. Under the current EIT Law, dividends for earnings derived from January 1, 2008 and onwards paid by PRC entities to any of their foreign non-resident Income (loss) before income taxes consists of: For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) PRC 18,194 22,088 23,524 3,421 Non-PRC (3,685 ) (805 ) 3,801 553 14,509 21,283 27,325 3,974 Except for the investment related gain recognized, the pre-tax non-PRC Income taxes consist of: For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Current income tax 3,462 4,224 6,184 900 Income tax refund due to reduced tax rate (535 ) (473 ) (680 ) (99 ) Adjustments of deferred tax assets due to change in tax rates (13 ) 7 — — Deferred income tax benefit (1 ) (763 ) (761 ) (111 ) 2,913 2,995 4,743 690 The reconciliation of the actual income taxes to the amount of tax computed by applying the aforementioned statutory income tax rate to pre-tax For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions, except for per share data) Expected taxation at PRC statutory tax rate 3,627 5,321 6,831 994 Effect of differing tax rates in different jurisdictions 736 854 493 72 Non-taxable (73 ) (913 ) (1,555 ) (226 ) Non-deductible 115 653 935 136 Research and development super-deduction (726 ) (905 ) (1,047 ) (152 ) Effect of PRC preferential tax rates and tax holiday (1,851 ) (2,095 ) (2,250 ) (327 ) Effect of tax rate changes on deferred taxes (13 ) 7 — — Over-accrued EIT for previous years (520 ) (579 ) (616 ) (90 ) PRC withholding tax 283 101 553 80 Addition to valuation allowance 1,335 551 1,399 203 Taxation for the year 2,913 2,995 4,743 690 Effective tax rate 20% 14% 17% 17% Effect of preferential tax rates inside the PRC on basic earnings per Class A and Class B ordinary share 53.41 60.33 64.47 9.38 The tax effects of temporary differences that gave rise to the deferred tax balances at December 31, 2017 and 2018 are as follows: As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Deferred tax assets: Provision for doubtful receivables 287 252 37 Accrued expenses, payroll and others 2,849 4,284 622 Fixed assets depreciation 53 60 9 Net operating loss carry-forward 1,061 1,609 234 Less: valuation allowance (2,718 ) (3,881 ) (564 ) Deferred tax assets, net 1,532 2,324 338 As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Deferred tax liabilities: Long-lived assets arising from acquisitions 133 360 52 Withholding tax on PRC subsidiaries’ undistributed earnings 586 619 90 Tax on capital gains 2,460 2,778 404 Other 196 342 50 3,375 4,099 596 As of December 31, 2018, the Company had tax losses of approximately RMB9.5 billion (US$1.4 billion) deriving from entities in the PRC, Hong Kong and Japan. The tax losses in Japan can be carried forward for nine years to offset future taxable profit. The tax losses in PRC can be carried forward for five years to offset future taxable profit, and the period was extended to 10 years for entities qualified as HNTE in 2018 and thereafter. The tax losses of entities in the PRC and Japan will begin to expire in 2019, if not utilized. The tax losses in Hong Kong can be carried forward without an expiration date. The Company evaluated its income tax uncertainty under ASC 740. ASC 740 clarifies the accounting for uncertainty in income taxes by prescribing the recognition threshold a tax position is required to meet before being recognized in the financial statements. The Company elects to classify interest and penalties related to an uncertain tax position, if and when required, as part of income tax expense in the consolidated statements of comprehensive income. As of and for the years ended December 31, 2017 and 2018, there was no significant impacts from tax uncertainty on the Company’s financial position and result of operations. The Company does not expect the amount of unrecognized tax benefits would increase significantly in the next 12 months. In general, the PRC tax authorities have up to five years to conduct examinations of the tax filings of the Company’s PRC subsidiaries. Accordingly, the PRC subsidiaries’ tax years of 2013 through 2018 remain open to examination by the respective tax authorities. The Company may also be subject to the examinations of the tax filings in other jurisdictions, which are not material to the consolidated financial statements. In 2013, the Company accrued RMB581 million of withholding tax for the potential remittance of earnings from the PRC subsidiaries to their offshore parent companies in the form of dividend distribution, because the Company believes that the underlying dividends will be distributed in the future considering future merger and acquisition activities. The Company did not provide for additional deferred income taxes and foreign withholding taxes on the undistributed earnings of foreign subsidiaries during the years presented on the basis of its intent to permanently reinvest its foreign subsidiaries’ earnings. As of December, 31 2018, the total amount of undistributed earnings from the PRC subsidiaries for which no withholding tax has been accrued was RMB144.4 billion (US$21.0 billion). Determination of the amount of unrecognized deferred tax liability related to these earnings is not practicable. In the case of its VIEs in the PRC, undistributed earnings were insignificant as of each of the balance sheet dates. |
Employee Defined Contribution P
Employee Defined Contribution Plan | 12 Months Ended |
Dec. 31, 2018 | |
Retirement Benefits [Abstract] | |
Employee Defined Contribution Plan | 14. EMPLOYEE DEFINED CONTRIBUTION PLAN Full time employees of the Group in the PRC participate in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the Group make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The Company has no legal obligation for the benefits beyond the contributions. The total amounts for such employee benefits, which were expensed as incurred, were RMB2.3 billion, RMB2.6 billion and RMB2.9 billion (US$426 million) for the years ended December 31, 2016, 2017 and 2018, respectively. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 15. COMMITMENTS AND CONTINGENCIES Capital Commitments The Company’s capital commitments primarily relate to commitments in connection with the expansion and improvement of its network infrastructure and its plan to build additional office buildings and cloud computing based data centers. Total capital commitments contracted but not yet reflected in the financial statements amounted to RMB220 million (US$32 million) as of December 31, 2018. All of the commitments relating to the network infrastructure are to be fulfilled in the next five years and the commitments relating to the office building and cloud computing based data centers will be settled in installments in the following years according to the construction progress. Operating Lease Commitments The Company leases facilities in the PRC under non-cancelable Future minimum payments under non-cancelable one-year RMB US$ (In millions) 2019 1,820 265 2020 453 66 2021 258 38 2022 119 17 2023 95 14 Thereafter 44 6 2,789 406 The Group’s lease arrangements have no restriction or contingent rents. Certain lease arrangements have escalation clauses and renewal options with advance notice period of several months. Licensed Copyrights and Produced Content Commitments Future minimum payments under non-cancelable RMB US$ (In millions) 2019 8,834 1,285 2020 6,977 1,015 2021 4,792 697 2022 980 142 2023 943 137 Thereafter 1,050 153 23,576 3,429 Investment Commitments The Company’s investment commitments primarily relate to capital contributions obligation under certain arrangements. The total investment commitments contracted but not yet reflected in the financial statements amounted to RMB1.4 billion (US$199 million). Guarantees The Company accounts for guarantees in accordance with ASC Topic 460, Guarantees . The corporate by-laws by-laws by-laws Historically, the Company was not required to make payments related to these obligations, and the fair value for these obligations was nil on the consolidated balance sheets as of December 31, 2017 and 2018. Litigation The Group was involved in certain cases pending in various PRC, Japan, U.S. and Brazil courts and arbitration as of December 31, 2018. These cases include copyright infringement cases, unfair competition cases, and defamation cases, among others. Adverse results in these lawsuits may include awards of damages and may also result in, or even compel, a change in the Company’s business practices, which could result in a loss of revenue or otherwise harm the business of the Company. For many proceedings, the Company is currently unable to estimate the reasonably possible loss or a range of reasonably possible losses as the proceedings are in the early stages, and/or there is a lack of clear or consistent interpretation of laws specific to the industry-specific complaints among different jurisdictions. As a result, there is considerable uncertainty regarding the timing or ultimate resolution of such matters, which includes eventual loss, fine, penalty or business impact, if any, and therefore, an estimate for the reasonably possible loss or a range of reasonably possible losses cannot be made. However, the Company believes that such matters, individually and in the aggregate, when finally resolved, are not reasonably likely to have a material adverse effect on the Company’s consolidated results of operations, financial position and cash flows. With respect to the limited number of proceedings for which the Company was able to estimate the reasonably possible losses or the range of reasonably possible losses, such loss estimates were insignificant. |
Redeemable Noncontrolling Inter
Redeemable Noncontrolling Interests | 12 Months Ended |
Dec. 31, 2018 | |
Temporary Equity Disclosure [Abstract] | |
Redeemable Noncontrolling Interests | 16. REDEEMABLE NONCONTROLLING INTERESTS 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Balance as of January 1 3,948 5,492 11,022 1,603 Business combination (Note 3) — — 698 102 Other comprehensive income (loss) 325 (335 ) — — Issuance of subsidiary shares 662 — — — Disposal of subsidiary shares — (2,376 ) — — Accretion of redeemable noncontrolling interests 557 (17 ) 146 21 Conversion of convertible notes of iQIYI — 8,258 — — Conversion of iQIYI preferred shares recognized as redeemable noncontrolling interests to ordinary shares — — (11,150 ) (1,622 ) Balance as of December 31 5,492 11,022 716 104 In November 2014, iQIYI completed a round of preferred shares financing with US$300 million from the external preferred shareholders. In October 2017, the US$1.2 billion iQIYI 2018 Convertible Notes (Note 12) plus related interest purchased by external investors was converted to iQIYI’s new round preferred shares. As the preferred shares could be redeemed by such shareholders upon the occurrence of certain events that are not solely within the control of iQIYI, these preferred shares are accounted for as redeemable noncontrolling interests. Upon completion of the IPO of iQIYI, all preferred shares of iQIYI held by external preferred shareholders were automatically re-designated and a one-for-one basis In October 2015, Xiaodu issued 250,000,000 preferred shares to certain shareholders for a total consideration of US$250 million. In May 2016, Xiaodu issued an additional 42,105,264 preferred shares to certain other shareholders for a total consideration of US$100 million. As the preferred shares could be redeemed by such shareholders upon the occurrence of certain events that are not solely within the control of Xiaodu, these preferred shares were accounted for as redeemable noncontrolling interests. In August 2017, the Company completed the disposal of Xiaodu to Rajax Holding in exchange for its equity shares. In October, 2018 the Company acquired additional shares of a former equity method investee, resulting in the investee becoming a subsidiary of the Company. The subsidiary had issued 159,820,917 outstanding preferred shares to certain shareholders, which could be redeemed by such shareholders upon the occurrence of certain events that are not solely within the control of the subsidiary. Therefore, these preferred share were accounted for as redeemable noncontrolling interests (Note 3). The Company accounts for the changes in accretion to the redemption value in accordance with ASC Topic 480, Distinguishing Liabilities from Equity. |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2018 | |
Equity Abstract | |
Shareholders' Equity | 17. SHAREHOLDERS’ EQUITY Ordinary Shares The authorized share capital consisted of 870,400,000 ordinary shares at a par value of US$0.00005 per share, of which 825,000,000 shares were designated as Class A ordinary shares, 35,400,000 as Class B ordinary shares, and 10,000,000 shares designated as preferred shares. The rights of the holders of Class A and Class B ordinary shares are identical, except with respect to voting and conversion rights. Each share of Class A ordinary shares is entitled to one vote per share and is not convertible into Class B ordinary shares under any circumstances. Each share of Class B ordinary shares is entitled to ten votes per share and is convertible into one Class A ordinary share at any time by the holder thereof. Upon any transfer of Class B ordinary shares by the holder thereof to any person or entity that is not an affiliate of such holder, such Class B ordinary shares would be automatically converted into an equal number of Class A ordinary shares. The number of Class B ordinary shares transferred to Class A ordinary shares was 91,667 shares, 200,000 shares and nil in the years ended December 31, 2016, 2017 and 2018, respectively. As of December 31, 2018, there were 27,733,692 and 7,201,254 Class A and Class B ordinary shares outstanding, respectively. As of December 31, 2017 and 2018, there were no preferred shares issued and outstanding. On July 30, 2015, the Company announced a share repurchase program in which the Company proposed to acquire up to an aggregate of US$1.0 billion of its shares over the next 12 months. On October 29, 2015, the Company announced a share repurchase program under which the Company proposed to acquire up to an aggregate of US$2.0 billion of its shares over the next 24 months. On June 27, 2018, the Company announced a share repurchase program under which the Company proposed to acquire up to an aggregate of US$1.0 billion of its ordinary shares over the next 12 months in the open market or through privately negotiated transactions, depending on market conditions and in accordance with applicable rules and regulations. The Company repurchased nil, 145,783 and 207,165 Class A ordinary shares from the open market with an aggregate purchase price of nil, RMB1.7 billion and RMB3.3 billion (US$482 million) during the years ended December 31, 2016, 2017 and 2018. The repurchased shares were cancelled under Cayman Islands law upon repurchase and the difference between the par value and the repurchase price was debited to retained earnings. Retained Earnings In accordance with the Regulations on Enterprises with Foreign Investment of China and their articles of association, the Company’s PRC subsidiaries, being foreign invested enterprises established in China, are required to make appropriations to certain statutory reserves, namely a general reserve fund, an enterprise expansion fund, a staff welfare fund and a bonus fund, all of which are appropriated from net profit as reported in their PRC statutory accounts. Each of the Company’s PRC subsidiaries is required to allocate at least 10% of its after-tax In accordance with the China Company Laws, the Company’s VIEs must make appropriations from their after-tax non-distributable after-tax General reserve and statutory surplus funds are restricted to set-off As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) PRC statutory reserve funds 488 515 75 Unreserved retained earnings 101,840 128,731 18,723 Total retained earnings 102,328 129,246 18,798 Under PRC laws and regulations, there are restrictions on the Company’s PRC subsidiaries and VIEs with respect to transferring certain of their net assets to the Company either in the form of dividends, loans, or advances. Amounts of net assets restricted include paid in capital and statutory reserve funds of the Company’s PRC subsidiaries and the net assets of the VIEs in which the Company has no legal ownership, totaling RMB18.6 billion and RMB25.7 billion (US$3.7 billion) as of December 31, 2017 and 2018, respectively. Furthermore, cash transfers from the Company’s PRC subsidiaries to their parent companies outside of China are subject to PRC government control of currency conversion. Shortages in the availability of foreign currency may restrict the ability of the PRC subsidiaries and consolidated affiliated entities to remit sufficient foreign currency to pay dividends or other payments to the Company, or otherwise satisfy their foreign currency denominated obligations. Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss) by component, net of tax, were as follows: Foreign Unrealized available-for- Total RMB RMB RMB (In millions) Balance at December 31, 2015 (1,106 ) 300 (806 ) Other comprehensive income (loss) before reclassification (593 ) 515 (78 ) Amounts reclassified from accumulated other comprehensive income — (572 ) (572 ) Net current-period other comprehensive loss (593 ) (57 ) (650 ) Other comprehensive income attribute to noncontrolling interests and redeemable noncontrolling interests (327 ) — (327 ) Balance at December 31, 2016 (2,026 ) 243 (1,783 ) Other comprehensive income before reclassification 732 2,574 3,306 Amounts reclassified from accumulated other comprehensive income 71 (999 ) (928 ) Net current-period other comprehensive income 803 1,575 2,378 Other comprehensive loss attribute to noncontrolling interests and redeemable noncontrolling interests 335 — 335 Balance at December 31, 2017 (888 ) 1,818 930 Cumulative effect of accounting change * — (1,854 ) (1,854 ) Other comprehensive income before reclassification 114 4,117 4,231 Amounts reclassified from accumulated other comprehensive income 80 (2,171 ) (2,091 ) Net current-period other comprehensive income 194 92 286 Other comprehensive income attribute to noncontrolling interests and redeemable noncontrolling interests (1,006 ) — (1,006 ) Balance at December 31, 2018 (1,700 ) 1,910 210 Balance at December 31, 2018, in US$ (247 ) 278 31 * Adjustment of net unrealized gains related to available-for-sale The amounts reclassified out of accumulated other comprehensive income represent realized foreign currency translation adjustments and gains on the available-for-sale The following table sets forth the tax effect allocated to each component of other comprehensive income (loss) for the years ended December 31, 2016, 2017 and 2018: For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Unrealized gains on available-for-sale Other comprehensive loss before reclassification (120 ) (215 ) (409 ) (60 ) Amounts reclassified from accumulated other comprehensive income 110 163 328 48 Net current-period other comprehensive loss (10 ) (52 ) (81 ) (12 ) |
Earnings Per Share ("EPS")
Earnings Per Share ("EPS") | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share ("EPS") | 18. EARNINGS PER SHARE (“EPS”) A reconciliation of net income attributable to Baidu, Inc. in the consolidated statements of comprehensive income to the numerator for the computation of basic and diluted per share for the years ended December 31, 2016, 2017 and 2018 is as follows: For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Net income attributable to Baidu, Inc. 11,632 18,301 27,573 4,010 Accretion of the redeemable noncontrolling interests (557 ) 17 (130 ) (19 ) Numerator for EPS computation 11,075 18,318 27,443 3,991 The following table sets forth the computation of basic and diluted earnings per Class A and Class B ordinary share. For the years ended December 31, 2016 2017 2018 2018 Class A Class B Class A Class B Class A Class A Class B Class B RMB RMB RMB RMB RMB US$ RMB US$ (In millions, except for number of shares, per share and per ADS data) Earnings per share – basic: Numerator Allocation of net income attributable to Baidu, Inc. 8,710 2,365 14,488 3,830 21,780 3,167 5,663 824 Denominator Weighted average ordinary shares outstanding 27,263,984 7,401,254 27,464,760 7,260,363 27,697,335 27,697,335 7,201,254 7,201,254 Denominator used for basic EPS 27,263,984 7,401,254 27,464,760 7,260,363 27,697,335 27,697,335 7,201,254 7,201,254 Earnings per share – basic 319.47 319.47 527.51 527.51 786.36 114.37 786.36 114.37 Earnings per share – diluted: Numerator Allocation of net income attributable to Baidu, Inc. for diluted computation 8,716 2,359 14,513 3,805 21,824 3,174 5,619 817 Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares 2,359 — 3,805 — 5,619 817 — — Numerator for diluted EPS calculation 11,075 2,359 18,318 3,805 27,443 3,991 5,619 817 Denominator Weighted average ordinary shares outstanding 27,263,984 7,401,254 27,464,760 7,260,363 27,697,335 27,697,335 7,201,254 7,201,254 Conversion of Class B to Class A ordinary shares 7,401,254 — 7,260,363 — 7,201,254 7,201,254 — — Share-based awards 91,848 — 227,268 — 272,454 272,454 — — Denominator used for diluted EPS 34,757,086 7,401,254 34,952,391 7,260,363 35,171,043 35,171,043 7,201,254 7,201,254 Earnings per share – diluted 318.62 318.62 524.08 524.08 780.27 113.49 780.27 113.49 Earnings per ADS: Denominator used for earnings per ADS – basic 272,639,840 274,647,600 276,973,350 276,973,350 Denominator used for earnings per ADS – diluted 347,570,860 349,523,907 351,710,430 351,710,430 Earnings per ADS – basic 31.95 52.75 78.64 11.44 Earnings per ADS – diluted 31.86 52.41 78.03 11.35 The Company did not include certain stock options, restricted shares and the effect of convertible senior notes in the computation of diluted earnings per share for the years ended December 31, 2016, 2017 and 2018 because those stock options and restricted shares were anti-dilutive for earnings per share for the respective years. |
Share-Based Awards Plan
Share-Based Awards Plan | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Awards Plan | 19. SHARE-BASED AWARDS PLAN Baidu, Inc. 2008 Share Incentive plan In December 2008, the Company adopted a share incentive plan (the “2008 Plan”), which provides for the granting of share incentives, including incentive share options (“ISOs”), restricted shares and any other form of award pursuant to the 2008 Plan, to members of the board, employees, consultants and non-employees Under the 2008 Plan, share options are subject to vesting schedules varying from two to four years, the exercise price of an option may be amended or adjusted at the discretion of the compensation committee, the determination of which would be final, binding and conclusive. To the extent not prohibited by applicable laws or exchange rules, a downward adjustment of the exercise prices would be effective without the approval of the Company’s shareholders or the approval of the affected grantees. If the Company grants an ISO to an employee who, at the time of that grant, owns shares representing more than 10% of the voting power of all classes of the Company’s share capital, the exercise price cannot be less than 110% of the fair market value of the Company’s ordinary shares on the date of that grant. 2018 Share Incentive Plan. In July 2018, the Company adopted a share incentive plan (the “2018 Plan”), which provides for the granting of share incentives, including ISOs, restricted shares and any other form of award pursuant to the 2018 Plan, to members of the board, employees, consultants, and non-employees ten-year Starting from February 15, 2006, the Company granted restricted Class A ordinary shares of the Company (“Restricted Shares”). Terms for the Restricted Shares are the same as share options except that Restricted Shares do not require exercise and have a two to four years vesting term. Share options The following table summarizes the option activity for the year ended December 31, 2018: Number of Weighted average exercise price Weighted Aggregate intrinsic Share options Outstanding, December 31, 2017 315,397 1,753 8 186 Granted 85,159 1,775 Exercised (66,727 ) 1,608 Forfeited/Cancelled (108,145 ) 1,864 Outstanding, December 31, 2018 225,684 1,751 7 40 Vested and expected to vest 191,811 1,713 7 38 Exercisable at December 31, 2018 108,639 1,542 6 31 The aggregate intrinsic value in the table above represents the difference between the Company’s closing stock price on the last trading day in 2018 and the exercise price. Total intrinsic value of options exercised for the years ended December 31, 2016, 2017 and 2018 was RMB143 million, RMB403 million and RMB 474 million (US$69 million), respectively. The total fair value of options vested during the years ended December 31, 2016, 2017 and 2018 was RMB225 million, RMB195 million and RMB 956 million (US$139 million), respectively. As of December 31, 2018, there was RMB337 million (US$49 million) unrecognized share-based compensation cost related to share options, which is expected to be recognized over a weighted-average vesting period of 2.4 years. To the extent the actual forfeiture rate is different from the original estimate, actual share-based compensation costs related to these awards may be different from expectation. The fair value of each option award was estimated on the date of grant using the Black-Scholes-Merton valuation model. The volatility assumption was estimated based on historical volatility of the Company’s share price applying the guidance provided by ASC 718. Assumptions of the expected term were based on the vesting and contractual terms and employee demographics. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The following table presents the assumptions used to estimate the fair values of the share options granted in the years presented: For the years ended December 31 2016 2017 2018 Risk-free interest rate 1.13%~1.47 % 1.81%~2.08 % 2.57 % Dividend yield — — — Expected volatility range 38.91%~40.09 % 35.99%~38.41 % 34.47%~35.36 % Weighted average expected volatility 39.37 % 38.39 % 34.81 % Expected life (in years) 5.75~5.92 4.99~6.01 4.89~6.25 In addition, the Company recognizes share-based compensation expense net of an estimated forfeiture rate and therefore only recognizes compensation cost for those shares expected to vest over the service period of the award. The estimation of the forfeiture rate is primarily based on historical experience of employee turnover. To the extent the Company revises this estimate in the future, the share-based payments could be materially impacted in the year of revision, as well as in the following years. The exercise price of options granted during the years ended December 31, 2016, 2017 and 2018 equaled the market price of the ordinary shares on the grant date. The weighted-average grant-date fair value of options granted during the years ended December 31, 2016, 2017, and 2018 was US$660, US$747, and US$1,029, respectively. Restricted Shares Restricted Shares activity for the year ended December 31, 2018 was as follows: Number of shares Weighted average grant (US$) Restricted Shares Unvested, December 31, 2017 819,670 1,899 Granted 427,642 2,232 Vested (259,152 ) 1,920 Forfeited/Cancelled (196,716 ) 1,952 Unvested, December 31, 2018 791,444 2,060 The total fair value of the Restricted Shares vested during the years ended December 31, 2016, 2017 and 2018 was RMB1.1 billion, RMB2.1 billion, RMB3.4 billion (US$498 million), respectively. The weighted-average grant-date fair value of the Restricted Shares granted during the years ended December 31, 2016, 2017, and 2018 was US$1,756, US$1,978, and US$2,232, respectively. As of December 31, 2018, there was RMB5.2 billion (US$762 million) unrecognized share-based compensation cost related to Restricted Shares. That deferred cost will be recognized over a weighted-average vesting period of 2.7 years. To the extent the actual forfeiture rate is different from the original estimate, actual share-based compensation costs related to these awards may be different from expectation. Subsidiaries-iQIYI 2010 Equity Incentive Plan In October 2010, iQIYI adopted its 2010 Equity Incentive Plan (the “iQIYI 2010 Plan”), which permits the grant of restricted shares, options and share appreciation rights to the employees, directors, officers and consultants to purchase iQIYI’s ordinary shares. The iQIYI 2010 Plan is valid and effective for a term of ten years commencing from its adoption. Except for service conditions, there were no other vesting conditions for all the awards under the 2010 Plan. As of December 31, 2018, the share option pool under the iQIYI 2010 Plan approved by the Board of Directors of iQIYI was 589,729,714 iQIYI’s ordinary shares. All options granted vest over a four-year period, with 25% of the awards vesting on the first anniversary, and the remaining 75% of the awards vesting on a quarterly basis thereafter. The following table sets forth the summary of employee option activity under the iQIYI’s 2010 Plan: Number of shares Weighted average exercise price ( ) Weighted Aggregate intrinsic Outstanding, December 31, 2017 306,266,366 0.45 Granted 112,846,527 0.51 Forfeited (13,474,664 ) 0.51 Exercised (25,059,198 ) 0.42 Outstanding, December 31, 2018 380,579,031 0.47 9 630 Vested and expected to vest 382,422,243 0.46 7 635 Exercisable at December 31, 2018 184,247,256 0.42 6 314 As of December 31, 2018, there was RMB1.4 billion (US$207 million) unrecognized share-based compensation cost related to share options granted by iQIYI. That deferred cost is expected to be recognized over a weighted-average vesting period of 3 years. 2017 Share Incentive Plan In November 2017, iQIYI adopted its 2017 Share Incentive Plan (the “iQIYI 2017 Plan”). Under the iQIYI 2017 Plan, iQIYI is authorized to grant options, restricted shares and restricted share units to members of the board, employees, consultants and other individuals for which the maximum aggregate number of ordinary shares which may be issued pursuant to all awards is 720,000 iQIYI’s ordinary shares. The iQIYI 2017 Plan is valid and effective for a term of ten years commencing from its adoption. Except for service conditions, there are no other vesting conditions for all the awards issued under the 2017 Plan. As of December 31, 2018, the unrecognized share-based compensation cost related to its Restricted Shares is insignificant. The following table summarizes the share-based compensation cost recognized by iQIYI: For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Expensed as cost of revenues 9 35 83 12 Expensed as selling, general and administrative 30 131 369 54 Expensed as research and development 23 67 104 16 The following table summarizes the total share-based compensation cost recognized by the Group: For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Expensed as cost of revenues 103 183 224 33 Expensed as selling, general and administrative 429 973 1,725 251 Expensed as research and development 1,228 2,088 2,727 397 1,760 3,244 4,676 681 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 20. RELATED PARTY TRANSACTIONS Related party transactions primarily related to online marketing services provided by the Company to Ctrip, which amounted to RMB631 million, RMB750 million and RMB774 million (US$113 million) for the years ended December 31, 2016, 2017 and 2018, respectively. The Company also provided online marketing services, cloud services and other services to Du Xiaoman, revenue for services provided amounted to RMB256 million (US$37 million) for the year ended December 31, 2018. Other related party transactions were insignificant for each of the years presented, which included the reimbursements to Mr. Robin Yanhong Li’s use of an aircraft beneficially owned by his family member for the Company’s business purposes and the rental expense for an office building owned by the family members of an executive officer for the Company’s business purposes. As of December 31, 2017 and 2018, amounts due from/due to related parties were as follows: As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Amounts due from related parties, current: Ctrip (i) 137 58 8 Du Xiaoman (ii) — 77 11 Other related parties (iii) 31 650 95 Total 168 785 114 Amounts due from related parties, non-current: Du Xiaoman (ii) — 3,884 565 Other related parties (iv) 9 413 60 Total 9 4,297 625 Amounts due to related parties, current: Du Xiaoman (v) — 934 136 Ctrip (vi) 122 12 2 Other related parties (vii) 31 781 113 Total 153 1,727 251 Amounts due to related parties, non-current: Du Xiaoman (viii) — 3,729 542 Other related parties (ix) — 631 92 Total — 4,360 634 (i) The balances mainly represent amounts arising from services the Company provided to Ctrip. (ii) The balance represents long-term loans due from Du Xiaoman with interest rates ranging from 4.28% to 5.00%, and amounts arising from services the Company provided to Du Xiaoman. In 2018, the Company provided short-term loans in the amount of RMB12.0 billion (US$1.7 billion) to Du Xiaoman, which were fully repaid as of December 31, 2018. (iii) The balances mainly represent short-term interest-bearing loans provided to investees of the Company. (iv) The balance consist of amount due from the Company’s investees in the ordinary course of business and rental deposits paid in advance to the related party of one of the executive officers. (v) The balance represents amount due to Du Xiaoman services provided by Du Xiaoman to the Company in the ordinary course of business and for other unsettled payments (vi) The balances mainly represent amounts arising from services provided by Ctrip. (vii) The balances mainly represent an interest-bearing loan provided by an investee and amounts arising from services provided by the Company’s investees. (viii) The balance represents mainly long-term loans provided by Du Xiaoman with interest rates ranging from 3.78% to 4.28%. (ix) The balance represents mainly deferred revenue relating to the future services to be provided by the Company’s subsidiary to an equity method investee. |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Segment Reporting | 21. SEGMENT REPORTING The operations of the Company are organized into two segments, consisting of Baidu Core and iQIYI. Baidu Core mainly provides search-based and feed-based online marketing service, other online marketing services, and new artificial intelligence businesses. iQIYI is an online entertainment service provider that, offers original, professionally produced and partner-generated content on its platform. The Company derives the results of the segments directly from its internal management reporting system. The CODM reviews the performance of each segment based on its operating results and uses these results to evaluate the performance of, and to allocate resources to, each of the segments. Because substantially all of the Group’s long-lived assets and revenues are located in and derived from the PRC, geographical segments are not presented. The table below provides a summary of the Group’s segment operating results for the years ended December 31, 2016. For the year ended December 31, 2016 Baidu Core iQIYI Intersegment eliminations & Consolidated RMB RMB RMB RMB (In millions) Total revenues 59,470 11,237 (158 ) 70,549 Operating costs and expenses: Cost of revenues 23,806 11,437 35 35,278 Selling, general and administrative 13,493 1,766 (188 ) 15,071 Research and development 9,298 824 29 10,151 Total operating costs and expenses 46,597 14,027 (124 ) 60,500 Operating profit (loss) 12,873 (2,790 ) (34 ) 10,049 Total other income (loss), net 4,730 (271 ) 1 4,460 Income (loss) before income taxes 17,603 (3,061 ) (33 ) 14,509 Income taxes 2,915 13 (15 ) 2,913 Net income (loss) 14,688 (3,074 ) (18 ) 11,596 Less: net income (loss) attributable to noncontrolling interests (30 ) — (6 ) (36 ) Net income attributable to Baidu, Inc. 14,718 (3,074 ) (12 ) 11,632 The table below provides a summary of the Group’s operating segment operating results for the years ended December 31, 2017. For the year ended December 31, 2017 Baidu Core iQIYI Intersegment eliminations & Consolidated RMB RMB RMB RMB (In millions) Total revenues 67,681 17,378 (250 ) 84,809 Operating costs and expenses: Cost of revenues 25,688 17,386 (12 ) 43,062 Selling, general and administrative 10,586 2,675 (133 ) 13,128 Research and development 11,692 1,270 (34 ) 12,928 Total operating costs and expenses 47,966 21,331 (179 ) 69,118 Operating profit (loss) 19,715 (3,953 ) (71 ) 15,691 Total other income (loss), net 5,385 208 (1 ) 5,592 Income (loss) before income taxes 25,100 (3,745 ) (72 ) 21,283 Income taxes 3,001 (8 ) 2 2,995 Net income (loss) 22,099 (3,737 ) (74 ) 18,288 Less: net income (loss) attributable to noncontrolling interests (9 ) — (4 ) (13 ) Net income (loss) attributable to Baidu, Inc. 22,108 (3,737 ) (70 ) 18,301 The table below provides a summary of the Group’s operating segment operating results for the years ended December 31, 2018. For the year ended December 31, 2018 Baidu Core iQIYI Intersegment Consolidated RMB US$ RMB US$ RMB US$ RMB US$ (In millions) Total revenues 78,271 11,384 24,989 3,634 (983 ) (142 ) 102,277 14,876 Operating costs and expenses: Cost of revenues 25,370 3,689 27,133 3,946 (759 ) (109 ) 51,744 7,526 Selling, general and administrative 15,310 2,227 4,168 606 (247 ) (36 ) 19,231 2,797 Research and development 13,783 2,005 1,994 290 (5 ) (1 ) 15,772 2,294 Total operating costs and expenses 54,463 7,921 33,295 4,842 (1,011 ) (146 ) 86,747 12,617 Operating profit (loss) 23,808 3,463 (8,306 ) (1,208 ) 28 4 15,530 2,259 Total other income (loss), net 13,169 1,915 (676 ) (98 ) (698 ) (102 ) 11,795 1,715 Income (loss) before income taxes 36,977 5,378 (8,982 ) (1,306 ) (670 ) (98 ) 27,325 3,974 Income taxes 4,664 678 79 12 — — 4,743 690 Net income (loss) 32,313 4,700 (9,061 ) (1,318 ) (670 ) (98 ) 22,582 3,284 Less: net income (loss) attributable to noncontrolling interests (1,292 ) (188 ) 49 7 (3,748 ) (545 ) (4,991 ) (726 ) Net income (loss) attributable to Baidu, Inc. 33,605 4,888 (9,110 ) (1,325 ) 3,078 447 27,573 4,010 |
Fair Value Measurement
Fair Value Measurement | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | 22. FAIR VALUE MEASUREMENT ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – Include observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 – Unobservable inputs which are supported by little or no market activity. ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Assets and Liabilities Measured or Disclosed at Fair Value In accordance with ASC 820, the Company measures available-for-sale held-to-maturity available-for-sale available-for-sale The Company measures long-term investments at fair value on a nonrecurring basis, in the cases of an impairment charge is recognized, fair value of an investment is remeasured in an acquisition/a disposal, and an orderly transaction for identical or similar investments of the same issuer was identified for equity investments the Company elected to use the measurement alternative. The Company’s non-financial The fair value of notes payable is extracted directly from the quoted market price. The Company classifies the fair value of the convertible senior notes as Level 3 within the fair value hierarchy due to the lack of observable market data and activity. The Company carries the convertible senior notes at face value less unamortized debt discount and issuance costs on its consolidated balance sheet, and presents the fair value for required disclosure purposes only. For further information on the convertible senior notes see Note 12. Assets and liabilities measured on a recurring basis or disclosed at fair value are summarized below: Fair value measurement or disclosure at December 31, 2017 using Total fair value at Quoted prices in Significant other inputs (Level 2) Significant RMB RMB RMB RMB (In millions) Fair value disclosure Cash equivalents Time deposits 130 130 Money market fund 2,384 2,384 Short-term investments Held-to-maturity 48,695 48,695 Long-term notes payable 35,943 35,943 Fair value measurements on a recurring basis Short-term investments Available-for-sale 40,715 40,715 Other invested securities 18,350 18,350 Long-term investments Available-for-sale 2,773 2,773 Investments accounted for at fair value 321 321 Other non-current Derivative instruments 168 168 Total assets measured at fair value 62,327 2,773 59,233 321 Fair value measurement or disclosure at December 31, 2018 using Total fair value at December 31, 2018 Quoted prices in Significant other inputs (Level 2) Significant RMB US$ RMB RMB RMB (In millions) Fair value disclosure Cash equivalents Time deposits 4,264 620 4,264 Money market fund 3,723 541 3,723 Short-term investments Held-to-maturity 27,507 4,001 27,507 Long-term notes payable 68,763 10,001 68,763 Convertible senior notes 4,923 716 4,923 Fair value measurements on a recurring basis Short-term investments Available-for-sale 79,558 11,571 79,558 Long-term investments Equity investments at fair value with readily determinable fair value 4,428 644 4,428 Investments accounted for at fair value 1,457 212 1,457 Available-for-sale 1,167 170 1,167 Other non-current Derivative instruments 193 28 187 6 Total assets measured at fair value 86,803 12,625 4,428 79,745 2,630 Accounts payable and accrued liabilities Derivative instruments 123 18 123 Amounts due to related parties, non-current Financial liability 341 50 341 Total liabilities measured at fair value 464 68 — 341 123 Assets measured at fair value on a non-recurring The Company measures non-financial |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries, VIEs and subsidiaries of the VIEs. All inter-company transactions and balances between the Company, its subsidiaries, VIEs and subsidiaries of the VIEs are eliminated upon consolidation. The Company included the results of operations of acquired businesses from the respective dates of acquisition. |
Use of Estimates | Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Management evaluates estimates, including those related to the standalone selling prices of performance obligations of revenue contracts, accounts receivable and contract assets allowances, credit loss allowance for micro loan receivables, fair values of certain debt and equity investments, amortization and impairment of licensed copyrights and produced content, ultimate revenue of produced content, fair value of nonmonetary content exchanges, impairment of long-lived assets, long-term investments and goodwill, the purchase price allocation and fair value of noncontrolling interests with respect to business combinations, deferred tax valuation allowance, and redeemable noncontrolling interests, among others. Management bases the estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates. |
Foreign Currency | Foreign Currency The Company’s functional currency is the US$. The Company’s subsidiaries, VIEs and subsidiaries of the VIEs determine their functional currencies based on the criteria of ASC Topic 830, Foreign Currency Matters |
Segment Reporting | Segment Reporting As of December 31, 2017 and 2018, the Company had two reportable segments, Baidu Core and iQIYI. Baidu Core mainly provides search-based, feed-based, and other online marketing services, as well as new artificial intelligence business. Search Services and Transaction Services were combined into Baidu Core beginning April 2017, to reflect the Company’s strategic and operational change to de-emphasize its transaction services business and shift more resources to support its online marketing and other services. iQIYI is an online entertainment service provider that, offers original, professionally produced and partner-generated content on its platform. In early April 2018, iQIYI completed its initial public offering (“IPO”) on the Nasdaq Global Market. The Company’s chief executive officer, who has been identified as the chief operating decision marker (“CODM”), reviews the operating results of Baidu Core and iQIYI, to allocate resources and assess the Company’s performance. Accordingly, the financial statements include segment information which reflects the current composition of the reportable segments in accordance with ASC Topic 280, Segment Reporting. |
Business Combinations | Business Combinations The Company accounts for its business combinations using the purchase method of accounting in accordance with ASC Topic 805, Business Combinations In a business combination achieved in stages, the Company remeasures its previously held equity interest in the acquiree immediately before obtaining control at its acquisition-date fair value and the re-measurement The determination and allocation of fair values to the identifiable assets acquired, liabilities assumed and noncontrolling interests is based on various assumptions and valuation methodologies requiring considerable judgment from management. The most significant variables in these valuations are discount rates, terminal values, the number of years on which to base the cash flow projections, as well as the assumptions and estimates used to determine the cash inflows and outflows. The Company determines discount rates to be used based on the risk inherent in the related activity’s current business model and industry comparisons. Terminal values are based on the expected life of assets, and forecasted cash flows over that period. |
Cash and Cash Equivalents and Restricted Cash | Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents Cash and cash equivalents primarily consist of cash, money market funds, investments in interest bearing demand deposit accounts, time deposits and highly liquid investments with original maturities of three months or less from the date of purchase and are stated at cost which approximates their fair value. Restricted cash Restricted cash mainly consists of the cash reserved in escrow accounts at certain banks as online payment service deposits and cash pledged for bank loan facility. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash end-of-period |
Accounts Receivable, net of allowance | Accounts Receivable, net of allowance Accounts receivable are recognized and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. An estimate for doubtful debts is made when collection of the full amount is no longer probable. Receivable balances are written off when they are deemed uncollectible. The Company generally does not require collateral from its customers. The Company maintains allowances for doubtful accounts for estimated losses resulting from the failure of customers to make payments on time. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, the customer’s payment history, its current credit-worthiness and current economic trends. |
Receivables from Online Payment Agencies, net of allowance | Receivables from Online Payment Agencies, net of allowance Receivables from online payment agencies are funds due from the third-party online payment service providers for clearing transactions. Funds were paid or deposited by customers or users through these online payment agencies for services provided by the Company. The Company carefully considers and monitors the credit worthiness of the third-party payment service providers used. An allowance for doubtful accounts is recorded in the period in which a loss is determined to be probable. Receivable balances are written off when they are deemed uncollectible. The balances are included in “Other current assets, net” on the consolidated balance sheets. As of December 31, 2017 and 2018, no allowance for doubtful accounts was provided for the receivables from online payment agencies. |
Loan and Interest Receivables, net of allowance | Loan and Interest Receivables, net of allowance Loan and interest receivables consist primarily of micro loans to individual borrowers. Such amounts are recorded at the principal net of allowance for credit losses relating to micro loans, and include accrued interest receivable as of the balance sheet date. The loan periods granted by the Company to the borrowers related to the micro loans generally range from one month to thirty-six Allowance for credit losses relating to micro loans represent the Company’s best estimate of the losses inherent in the outstanding portfolio of loans. Judgment is required to determine the allowance amounts and whether such amounts are adequate to cover potential credit losses, and periodic reviews are performed to ensure such amounts continue to reflect the best estimate of the losses inherent in the outstanding portfolio of debts. The Company bases the allowance for loan and interest receivables credit losses primarily on historical loss experience using a roll rate-based model applied to the loan and interest receivables portfolios. The Company considers many factors, including but not limited to, the age of the amounts due, the payment history, the month of origination, the purpose of the loans, creditworthiness, financial conditions of the borrower, terms of the loans, regulatory environment, and the general economic conditions. In August 2018, the Company completed the divestiture of its financial services business, and related loan and interest receivable balances were derecognized from the consolidated balance sheet upon disposal (Note 4). |
Investments | Investments Short-term All highly liquid investments with original maturities of greater than three months, but less than twelve months, are classified as short-term investments. Investments that are expected to be realized in cash during the next twelve months are also included in short-term investments. The Company accounts for short-term debt investments in accordance with ASC Topic 320, Investments—Debt Securities . “held-to-maturity,” “available-for-sale,” Securities that the Company has positive intent and ability to hold to maturity are classified as held-to-maturity held-to-maturity Securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities, in accordance with ASC 320. Unrealized holding gains and losses for trading securities are included in earnings. Debt investments not classified as trading or as held-to-maturity available-for-sale available-for-sale Other invested securities Other invested securities represent investments purchased by the Company for its financial services business and are resold to third-party investors. These transactions do not meet the requirements of asset derecognition in accordance with ASC Topic 860, Transfers and Servicing . Long-term investments The Company’s long-term investments consist of equity investments with and equity investments without readily determinable fair value, equity method investments, available-for-sale Prior to adopting ASC Topic 321, Investments—Equity Securities 325-20, Investments-Other: Cost Method Investments Management regularly evaluates the impairment of the cost method investments based on the performance and financial position of the investee as well as other evidence of market value. Such evaluation includes, but is not limited to, reviewing the investee’s cash position, recent financing, projected and historical financial performance, cash flow forecasts and financing needs. An impairment loss is recognized in earnings equal to the excess of the investment’s cost over its fair value at the balance sheet date of the reporting period for which the assessment is made. The fair value would then become the new cost basis of the investment. Subsequent to the Company’s adoption of ASC 321 on January 1, 2018, the cumulative effect of RMB1.9 billion (US$270 million) representing the unrealized gains and losses of available-for-sale Fair Value Measurements and Disclosures Pursuant to ASC 321, for equity investments measured at fair value with changes in fair value recorded in earnings, the Company does not assess whether those securities are impaired. For those equity investments that the Company elects to use the measurement alternative, the Company makes a qualitative assessment of whether the investment is impaired at each reporting date. If a qualitative assessment indicates that the investment is impaired, the entity has to estimate the investment’s fair value in accordance with the principles of ASC 820. If the fair value is less than the investment’s carrying value, the entity has to recognize an impairment loss in net income equal to the difference between the carrying value and fair value. Available-for-sale Investments in entities in which the Company can exercise significant influence but does not own a majority equity interest or control are accounted for using the equity method of accounting in accordance with ASC Topic 323, Investments-Equity Method and Joint Ventures The Company evaluates the equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. Factors considered by the Company when determining whether an investment has been other-than-temporarily-impaired, includes, but not limited to, the length of the time and the extent to which the market value has been less than cost, the financial performance and near-term prospect of the investee, and the Company’s intent and ability to retain the investment until the recovery of its cost. An impairment loss on the equity method investments is recognized in earnings when the decline in value is determined to be other-than-temporary. In accordance with ASC 946-320 Financial Services—Investment Companies, Investments—Debt and Equity Securities, re-measured |
Transfers of Financial Assets | Transfers of Financial Assets The Company accounts for the transfers of financial assets in accordance with ASC 860. Financial assets are derecognized from the Company’s consolidated balance sheets if the transfer qualifies as sales. If the conditions for sale required by ASC 860 are not met, the transfer is considered to be a secured borrowing included in “Amounts due to the third-party investors” on the consolidated balance sheets. The assets remain on the consolidated balance sheets as “Other invested securities” and the sale proceeds are recognized as the Company’s liability. All other invested securities and liability balances were derecognized from the consolidated balance sheet upon disposal of the financial services business (Note 4). |
Fair Value Measurements of Financial Instruments | Fair Value Measurements of Financial Instruments Financial instruments are in the form of cash and cash equivalents, restricted cash, short-term investments, other invested securities, accounts receivable, loan and interest receivables, amounts due from and due to related parties, other receivables, long-term investments, short-term loans, accounts payable and accrued liabilities, customer advances and deposits, derivative instruments, notes payable, convertible senior notes and long-term loans. The carrying values of the aforementioned financial instruments included in current assets and liabilities approximate their respective fair values because of their general short maturities. The carrying amounts of long-term loans approximate fair values as the related interest rates approximate rates currently offered by financial institutions for similar debt instruments of comparable maturities. |
Fixed Assets | Fixed Assets Fixed assets are stated at cost less accumulated depreciation. Depreciation is recorded on a straight-line basis over the shorter of the estimated useful lives of the assets or the term of the related lease, as follows: Office building – 43 to 45 years Office building related facility, machinery and equipment – 15 years Computer equipment – 3 to 5 years Office equipment – 3 to 5 years Vehicles – 5 years Leasehold improvements – over the shorter of lease terms or estimated useful lives of the assets Fixed assets have no estimated residual value except for the office building and its related facility, machinery and equipment, which have an estimated residual value of 4% of the cost. Repair and maintenance costs are charged to expense as incurred, whereas the cost of renewals and betterments that extend the useful life of fixed assets are capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the asset and accumulated depreciation accounts with any resulting gain or loss reflected in earnings. All direct and indirect costs that are related to the construction of fixed assets and incurred before the assets are ready for their intended use are capitalized as construction in progress. Construction in progress is transferred to specific fixed assets items and depreciation of these assets commences when they are ready for their intended use. Interest costs are capitalized if they are incurred during the acquisition, construction or production of a qualifying asset and such costs could have been avoided if expenditures for the assets have not been made. Capitalization of interest costs commences when the activities to prepare the asset are in progress and expenditures and borrowing costs are being incurred. Interest costs are capitalized until the assets are ready for their intended use. Interest costs capitalized for the years ended December 31, 2016, 2017 and 2018 were insignificant. |
Licensed Copyrights | Licensed Copyrights Licensed copyrights consist of professionally-produced content such as movies, television series, variety shows, sports and other video content acquired from external parties. The license fees are capitalized and, unless prepaid, a corresponding liability recorded when cost of the content is known, the content has been accepted by us in accordance with the conditions of the license agreement and the content is available for its first showing on our internet platform. Licensed copyrights are carried at the lower of unamortized cost or net realizable value. The current and non-current portions non-exclusive and non-exclusive Non-exclusive licensed Other non-exclusive licensed certain non-episodic features, Accounting Changes and Error Corrections The purchase cost of exclusive licensed copyrights includes the right to broadcast and the right to sublicense to third parties. The Company allocates content cost to these two rights when the exclusive licensed copyrights are initially recognized, based on the relative proportion of our estimate of the total revenues that will be generated by each right. Content costs related to the broadcasting right, which is the portion of an exclusive licensed copyright that generates direct and indirect advertising and membership revenues, are amortized in accordance with ASC Subtopic 920-350, Entertainment-Broadcasters: Intangibles—Goodwill and Other (“ASC 920-350”), as non-exclusive licensed Entertainment—Films On a periodic basis, the Company evaluates the program usefulness of the broadcasting rights of its licensed copyrights and record such rights at the lower of unamortized cost or estimated net realizable value pursuant to the guidance in ASC 920-350. When Net realizable value is determined by estimating the expected cash flows generated from the provision of online advertising and membership services, less any direct costs, over the remaining useful lives of non-exclusive licensed Entertainment—Films: Other Assets—Film Costs |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill The Company assesses goodwill for impairment in accordance with ASC Subtopic 350-20, Intangibles—Goodwill and Other: Goodwill 350-20. The Company has the option to assess qualitative factors first to determine whether it is necessary to perform the two-step 350-20. more-likely-than-not two-step two-step The Company performed qualitative assessments for the reporting unit of Baidu Core in 2017 and 2018. Based on the requirements of ASC 350-20, more-likely-than-not The Company elected to assess goodwill for impairment using the two-step process Intangible assets Intangible assets with finite lives are carried at cost less accumulated amortization. Land use rights are amortized using a straight-line method over the shorter of their estimated useful lives or the terms of the related land use right contracts. All other intangible assets with finite lives are amortized using the straight-line method over the estimated useful lives, except for the sublicensing rights and certain licensed copyrights. Intangible assets have weighted average useful lives from the date of purchase as follows: Land use rights – 50 years Customer relationships – 3 years Software – 5 years Trademarks – 9 years User list – 3 years Licensed copyrights of video contents – 3 years Others – 6 years Intangible assets with an indefinite useful life are not amortized and are tested for impairment annually or more frequently if events or changes in circumstances indicate that they might be impaired in accordance with ASC Subtopic 350-30, Intangibles-Goodwill and Other: General Intangibles Other than Goodwill |
Produced Content, net | Produced Content, net The Company produces and contracts external parties to produce films and episodic series to exhibit on its websites. Produced content includes direct production costs, production overhead and acquisition costs and is stated at the lower of unamortized cost or estimated fair value. Produced content also includes cash expenditures made to acquire a proportionate share of certain rights to films including profit sharing, distribution and/or other rights. Produced content exceeding the total revenues to be earned (“ultimate revenue”) is expensed as cost of revenues. The Company uses the individual-film-forecast-computation method and amortizes the produced content based on the ratio of current period actual revenue (numerator) to estimated remaining unrecognized ultimate revenue as of the beginning of the fiscal year (denominator) in accordance with ASC 926-20. The Company reviews unamortized produced content costs for impairment whenever events or circumstances indicate that the fair value of the produced content may be less than its unamortized cost. Produced content was presented as “Other non-current |
Impairment of Long-Lived Assets Other Than Goodwill | Impairment of Long-Lived Assets Other Than Goodwill The Company evaluates long-lived assets, such as fixed assets and purchased or internally developed intangible assets with finite lives, for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable in accordance with ASC Topic 360, Property, Plant and Equipment |
Revenue Recognition | Revenue Recognition The Company adopted ASC Topic 606 Revenue from Contracts with Customers Revenue Recognition Revenue is recognized when control of promised goods or services is transferred to the Company’s customers in an amount of consideration to which an entity expects to be entitled to in exchange for those goods or services. Starting from January 1, 2018, value added taxes (“VAT”) was reclassified from cost of revenue to net against revenues in accordance with ASC 606. The Company recognized VAT of RMB3.9 billion, RMB4.8 billion and RMB6.1 billion (US$884 million) for the years ended December 31, 2016, 2017 and 2018, respectively. Other than the presentation of VAT, the impact from adopting ASC 606 was not material to the Company’s consolidated financial statements as of and for the year ended December 31, 2018. The following table presents the Company’s revenues disaggregated by revenue source: For the years ended December 31, December 31, December 31, December 31, RMB RMB RMB US$ (In millions) Online marketing 64,525 73,146 81,912 11,914 iQIYI membership service 3,759 6,532 10,603 1,542 iQIYI content distribution 501 1,192 2,163 315 Interest income earned from provision of financial services 222 1,658 1,724 251 Others 1,542 2,281 5,875 854 Other revenue 6,024 11,663 20,365 2,962 Total revenue 70,549 84,809 102,277 14,876 The Company’s revenue recognition policies effective on the adoption date of ASC 606 are as follows: Performance-based online marketing services Cost-per-click The Company’s auction-based P4P platform enables customers to bid for priority placement of their paid sponsored links. The P4P platform enables customers to reach users who search for information related to their products or services. The P4P services include search-based online marketing services and feed-based online marketing services. The P4P online marketing customers may choose to set a daily limit on the amount spent and may also choose to target only users accessing our website from specified regions in China and/or during a specific time period of the day. Besides the Company’s traditional search-based P4P services, the Company also displays feed-based marketing to target the right feed users based on user data on the Company’s platform. Customers pay the Company when a targeted user clicks the feed-based marketing and are directed to its platforms. Revenue is recognized when all of the revenue recognition criteria are met, which is generally when a user clicks on one of the customer-sponsored links or feed-based marketing. Other performance-based online marketing services To the extent the Company provides online marketing services based on performance criteria other than cost-per-click, the pre-determined ratios Display advertisements The Company provides display-based online advertising services to its customers by integrating text description, image and video, and displaying the advertisement in a prominent position of the search result page, vertical search products or Baidu Feed. The Company recognizes revenue on a pro-rata Online marketing services involving Baidu Union Baidu Union is a program through which the Company expands distribution of its customers’ sponsored links or advertisements by leveraging the traffic of Baidu Union partners’ internet properties. The Company makes payments to Baidu Union partners for the acquisition of traffic. The Company is the principal in these transactions, as it is primarily responsible for fulfilling the service, has discretion in establishing pricing and controls the advertising inventory before the transfer to customers. Therefore, revenue is recognized on a gross basis on the amount of fees it billed to its customers. Payments made to Baidu Union partners are recorded as traffic acquisition costs, which are included in “Cost of revenues” in the consolidated statements of comprehensive income. Membership services The Company offers membership services that provide subscribing members access to stream a library of premium content or personal cloud service in exchange for upfront non-refundable Content distribution The Company generates revenues from sub-licensing sub-license non-exclusive sub-license sub-licensee sub-licensing sub-license sub-licensing sub-licensee sub-license The Company also enters into nonmonetary transactions to exchange online broadcasting rights of licensed copyrights with other online video broadcasting companies from time to time. The exchanged licensed copyrights provide rights for each party to broadcast the licensed copyrights received on its own website only. Each transferring party retains the right to continue broadcasting the exclusive content on its own website and/or sublicense the rights to the content it surrendered in the exchange. The Company accounts for these nonmonetary exchanges in accordance with ASC 606, and records the transaction based on the fair value of the asset received starting from January 1, 2018. Barter sublicensing revenue are recognized in accordance with the same ASC 606 criteria above. The Company estimates the fair value of the licensed copyrights received based on various factors, including broadcasting schedule, cast and crew, theme and popularity, box office and market share of counterparties to the exchange. The attributable cost of cash sublicensing transactions, whether for cash or through nonmonetary exchanges, is recognized as cost of revenues through the amortization of the sublicensing right component of the exclusive licensed copyright, computed using the individual-film-forecast-computation method in accordance with ASC 926. The Company recognized barter sublicensing revenues of RMB382 million, RMB763 million and RMB1.1 billion (US$158 million) and related costs of RMB363 million, RMB650 million and RMB1.0 billion (US$149 million) for the years ended December 31, 2016, 2017 and 2018, respectively. Barter transactions The Company engages in certain barter transactions other than licensed copyrights of video contents, such as advertising, from time to time. The transaction price of the nonmonetary consideration is measured at fair value at contract inception. If fair value cannot be reasonably estimated, the Company measures the consideration indirectly by reference to the standalone selling price of the services promised to the customer in exchange for the consideration. Revenues recognized on advertising barter transactions were immaterial for the years ended December 31, 2016, 2017 and 2018. Financial services The Company offers financial services which include provision of installment payment services to consumers and wealth management services to third-party investors. Interest income earned from provision of financial services is reported as “Other revenues” and reported on a net basis after deduction of related interest costs incurred. The Company recognized gross interest income of RMB3.5 billion and RMB3.3 billion (US$483 million) and interest costs of RMB1.9 billion and RMB1.6 billion (US$232 million) for the years ended December 31, 2017 and 2018, respectively. Gross interest income and interest costs recognized for the year ended December 31, 2016 were insignificant. The financial services business was disposed of in August 2018 (Note 4). Other revenue recognition related policies For arrangements that include multiple performance obligations, primarily for advertisements to be displayed in different spots, placed under different forms and displayed at different times, the Company would evaluate all the performance obligations in the arrangement to determine whether each performance obligation is distinct. Consideration is allocated to each performance obligation based on its standalone selling price. If a promised good or service does not meet the criteria to be considered distinct, it is combined with other promised goods or services until a distinct bundle of goods or services exists. Timing of revenue recognition may differ from the timing of invoicing to customers. For certain services customers are required to pay before the services are delivered to the customer. When either party to a revenue contract has performed, the Company recognizes a contract asset or a contract liability in the consolidated balance sheet, depending on the relationship between the entity’s performance and the customer’s payment. Contract liabilities were mainly related to fees for membership services to be provided over the membership period, which were presented as deferred revenue on the consolidated balance sheets. The increase in deferred revenue as compared to the year ended December 31, 2017 is a result of the increase in consideration received from the Company’s customers. The opening balance of contract assets were RMB832 million as of January 1, 2018. As of December 31, 2018, contract assets of RMB1.4 billion (US$206 million), net of allowance for doubtful accounts of RMB21 million (US$3 million) were recognized and included in “Other current assets, net” on the consolidated balance sheet. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed. The Company provides sales incentives to customers which entitle them to receive reductions in the price of the online marketing services by meeting certain cumulative consumption requirements. The Company accounts for these incentives granted to customers as variable consideration and net against revenue. The amount of variable consideration is measured based on the most likely amount of incentives to be provided to customers. |
Cost of Revenues | Cost of Revenues Cost of revenues consists primarily of traffic acquisition costs, bandwidth costs, depreciation, content costs, payroll and related costs of operations. Starting from January 1, 2018, VAT was recorded net against revenue instead of as cost of revenue. Traffic acquisition costs represent the amounts paid or payable to Baidu Union partners who direct search queries to the Company’s websites or distribute the Company’s customers’ paid links through their properties. These payments are primarily based on revenue sharing arrangements under which the Company pays its Baidu Union partners and other business partners a percentage of the fees it earns from its online marketing customers. |
Advertising and Promotional Expenses | Advertising and Promotional Expenses Advertising and promotional expenses, including advertisements through various forms of media and kinds of marketing and promotional activities, are included in “Selling, general and administrative expense” in the consolidated statements of comprehensive income (loss) and are expensed when incurred. Advertising and promotional expenses for the years ended December 31, 2016, 2017 and 2018 were RMB7.7 billion, RMB4.6 billion and RMB10.1 billion (US$1.5 billion), respectively. |
Government Subsidies | Government Subsidies Government subsidies primarily consist of financial subsidies received from provincial and local governments for operating a business in their jurisdictions and compliance with specific policies promoted by the local governments. For certain government subsidies, there are no defined rules and regulations to govern the criteria necessary for companies to receive such benefits, and the amount of financial subsidy is determined at the discretion of the relevant government authorities. The government subsidies of non-operating non-operating |
Leases | Leases Leases are classified as either capital or operating leases. Leases that transfer substantially all the benefits and risks incidental to the ownership of assets are accounted for as capital leases as if there was an acquisition of an asset and incurrence of an obligation at the inception of the lease. All other leases are accounted for as operating leases wherein rental payments are expensed as incurred. |
Income Taxes | Income Taxes The Company recognizes income taxes under the liability method. Deferred income taxes are recognized for differences between the financial reporting and tax bases of assets and liabilities at enacted tax rates in effect for the years in which the differences are expected to reverse. The Company records a valuation allowance against the amount of deferred tax assets that it determines is not more-likely-than-not The Company applies the provisions of ASC Topic 740, Income Taxes |
Share-based Compensation | Share-based Compensation The Company accounts for share-based compensation in accordance with ASC Topic 718, Compensation-Stock Compensation Forfeitures are estimated based on historical experience and are periodically reviewed. Cancellation of an award accompanied by the concurrent grant of a replacement award is accounted for as a modification of the terms of the cancelled award (“modified awards”). The compensation costs associated with the modified awards are recognized if either the original vesting condition or the new vesting condition is achieved. Total recognized compensation cost for the awards is at least equal to the fair value of the awards at the grant date unless at the date of the modification the performance or service conditions of the original awards are not expected to be satisfied. The incremental compensation cost is measured as the excess of the fair value of the replacement award over the fair value of the cancelled award at the cancellation date. Therefore, in relation to the modified awards, the Company recognizes share-based compensation over the vesting periods of the replacement award, which comprises, (i) the amortization of the incremental portion of share-based compensation over the remaining vesting term and (ii) any unrecognized compensation cost of the original award, using either the original term or the new term, whichever results in higher expenses for each reporting period. The Company accounts for share awards issued to non-employees 505-50, Equity: Equity-based Payments to Non-Employees non-employees |
Earnings Per Share ("EPS") | Earnings Per Share (“EPS”) The Company computes earnings per Class A and Class B ordinary shares in accordance with ASC Topic 260, Earnings Per Share Diluted earnings per share is computed using the weighted average number of ordinary shares and, if dilutive, potential ordinary shares outstanding during the period. Potentially dilutive securities such as convertible senior notes have been excluded from the computation of diluted net income per share if their inclusion is anti-dilutive. Potential ordinary shares consist of the incremental ordinary shares issuable upon the exercise of stock options, restricted shares subject to forfeiture, and contracts that may be settled in the Company’s stock or cash. The dilutive effect of outstanding stock options and restricted shares is reflected in diluted earnings per share by application of the treasury stock method. The computation of the diluted earnings per Class A ordinary share assumes the conversion of Class B ordinary shares to Class A ordinary shares, while diluted earnings per Class B ordinary share does not assume the conversion of such shares. The liquidation and dividend rights of the holders of the Company’s Class A and Class B ordinary shares are identical, except with respect to voting rights. As a result, and in accordance with ASC 260, the undistributed earnings for each year are allocated based on the contractual participation rights of the Class A and Class B ordinary shares as if the earnings for the year had been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. Further, as the conversion of Class B ordinary shares is assumed in the computation of the diluted earnings per Class A ordinary share, the undistributed earnings are equal to net income for that computation. For the purposes of calculating the Company’s basic and diluted earnings per Class A and Class B ordinary shares, the ordinary shares relating to the options that were exercised are assumed to have been outstanding from the date of exercise of such options. |
Contingencies | Contingencies The Company records accruals for certain of its outstanding legal proceedings or claims when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated. The Company evaluates, on a quarterly basis, developments in legal proceedings or claims that could affect the amount of any accrual, as well as any developments that would make a loss contingency both probable and reasonably estimable. The Company discloses the amount of the accrual if it is material. When a loss contingency is not both probable and estimable, the Company does not record an accrued liability but discloses the nature and the amount of the claim, if material. However, if the loss (or an additional loss in excess of the accrual) is at least reasonably possible, then the Company discloses an estimate of the loss or range of loss, unless it is immaterial or an estimate cannot be made. The assessment of whether a loss is probable or reasonably possible, and whether the loss or a range of loss is estimable, often involves complex judgments about future events. Management is often unable to estimate the loss or a range of loss, particularly where (i) the damages sought are indeterminate, (ii) the proceedings are in the early stages, or (iii) there is a lack of clear or consistent interpretation of laws specific to the industry-specific complaints among different jurisdictions. In such cases, there is considerable uncertainty regarding the timing or ultimate resolution of such matters, including eventual loss, fine, penalty or business impact, if any. |
Concentration of Risks | Concentration of Risks Concentration of credit risk Financial instruments that potentially subject the Company to significant concentration of credit risk primarily consist of cash and cash equivalents, restricted cash, short-term investments, accounts receivable, and amounts due from related parties. As of December 31, 2018, the Company has RMB141.5 billion (US$20.6 billion) in cash and cash equivalents, restricted cash, and short-term investments, 94% and 6% of which are held by financial institutions in the PRC and international financial institutions outside of the PRC, respectively. The Company’s total cash and cash equivalents, restricted cash, and short-term investments held at four financial institutions in the PRC exceeded 10%, representing 37%, 15%, 13%, and 11% of the Company’s total cash and cash equivalents, restricted cash, and short-term investments as of December 31, 2018, respectively. PRC state-owned banks, such as Bank of China, are subject to a series of risk control regulatory standards, and PRC bank regulatory authorities are empowered to take over the operation and management when any of those banks faces a material credit crisis. The Company does not foresee substantial credit risk with respect to cash and cash equivalents, restricted cash and short-term investments held at the PRC state-owned banks. Meanwhile, China does not have an official deposit insurance program, nor does it have an agency similar to what was the Federal Deposit Insurance Corporation (FDIC) in the U.S. In the event of bankruptcy of one of the financial institutions in which the Company has deposits or investments, it may be unlikely to claim its deposits or investments back in full. The Company selected reputable international financial institutions with high rating rates to place its foreign currencies. The Company regularly monitors the rating of the international financial institutions to avoid any potential defaults. There has been no recent history of default in relation to these financial institutions. Accounts receivable are typically unsecured and derived from revenue earned from customers and agents in China, which are exposed to credit risk. The risk is mitigated by credit evaluations the Company performs on its customers and its ongoing monitoring process of outstanding balances. The Company maintains reserves for estimated credit losses and these losses have generally been within its expectations. As of December 31, 2017 and 2018, the Company had no single customer with a receivable balance exceeding 10% of the total accounts receivable balance. No customer or any Baidu Union partner generated greater than 10% of total revenues in any of the three years presented. Amounts due from related parties are typically unsecured. In evaluating the collectability of the amounts due from related parties balance, the Company considers many factors, including the related parties’ repayment history and their credit-worthiness. An allowance for doubtful accounts is made when collection of the full amount is no longer probable. Business and economic risks The Company participates in a dynamic high technology industry and believes that changes in any of the following areas could have a material adverse effect on the Company’s future financial position, results of operations or cash flows: changes in the overall demand for services and products; changes in business offerings; competitive pressures due to new entrants; advances and new trends in new technologies and industry standards; changes in bandwidth suppliers; changes in certain strategic relationships or customer relationships; regulatory considerations; copyright regulations; brand maintenance and enhancement; and risks associated with the Company’s ability to attract and retain employees necessary to support its growth. The Company’s operations could be adversely affected by significant political, economic and social uncertainties in the PRC. Currency convertibility risk Substantially all of the Company’s businesses are transacted in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions requires submitting a payment application form together with suppliers’ invoices, shipping documents and signed contracts. Foreign currency exchange rate risk The functional currency and the reporting currency of the Company are the US$ and the RMB, respectively. The Company’s exposure to foreign currency exchange rate risk primarily relates to cash and cash equivalents, restricted cash, short-term investments, long-term investments, notes payable and convertible senior notes denominated in the US$. On June 19, 2010, the People’s Bank of China announced the end of the RMB’s de facto peg to the US$, a policy which was instituted in late 2008 in the face of the global financial crisis, to further reform the RMB exchange rate regime and to enhance the RMB’s exchange rate flexibility. On March 15, 2014, the People’s Bank of China announced the widening of the daily trading band for RMB against US$. The appreciation of the US$ against the RMB was approximately 5.67% in 2018. Most of the revenues and costs of the Company are denominated in RMB, while a portion of cash and cash equivalents, restricted cash, short-term investments, long-term investments, notes payable and convertible senior notes are denominated in U.S. dollars. It is difficult to predict how market forces or PRC or U.S. government policy may impact the exchange rate between the Renminbi and the U.S. dollar in the future. Any significant fluctuation of the valuation of RMB may materially affect the Company’s cash flows, revenues, earnings and financial position, and the value of, and any dividends payable on, the ADS in US$. |
Derivative Instruments | Derivative Instruments ASC Topic 815, Derivatives and Hedging |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases 2016-02”). 2016-02 2016-02 right-of-use 2016-02 2016-02 In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments 2016-13”) 2016-13 2016-13 2016-13 In June 2018, the FASB issued ASU No. 2018-07 , Compensation—Stock Compensation (Topic 718) : Improvements to Nonemployee Share-Based Payment Accounting to simplify the accounting for share-based payments to nonemployees 2018-07”) 2018-07 non-employees In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement 2018-13”) In March 2019, the FASB issued ASU 2019-02, Improvements to Accounting for Costs of Films and License Agreements for Program Materials |
Guarantees | Guarantees The Company accounts for guarantees in accordance with ASC Topic 460, Guarantees . |
Organization, Consolidation a_2
Organization, Consolidation and Presentation Of Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Financial Statement Balances and Amounts of VIEs and Subsidiaries Included in Consolidated Financial Statements After Elimination of Intercompany Balances and Transactions Among VIEs and Subsidiaries within Group | The following tables set forth the financial statement balances and amounts of the VIEs and their subsidiaries were included in the consolidated financial statements after the elimination of intercompany balances and transactions among VIEs and their subsidiaries within the Group: As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Assets Current Cash and cash equivalents 4,045 1,895 276 Short-term investments 2,052 2,912 424 Accounts receivable, net 3,021 4,091 595 Others 5,280 4,642 675 14,398 13,540 1,970 Non-current Fixed assets, net 2,845 4,183 608 Intangible assets, net 2,104 4,032 586 Long-term investments, net 10,614 18,923 2,752 Others 6,488 12,639 1,838 22,051 39,777 5,784 Total 36,449 53,317 7,754 Third-party liabilities Current Accounts payable and accrued liabilities 14,073 13,889 2,020 Customer advances and deposits 2,288 2,402 349 Others 2,414 3,560 518 18,775 19,851 2,887 Non-current Long-term loans 4,788 10,495 1,527 Others 363 1,295 188 5,151 11,790 1,715 Total 23,926 31,641 4,602 Inter-company liabilities * Inter-company payable to subsidiaries for technology consulting and service fees 2,828 1,926 280 Others 4,605 10,768 1,566 Total 7,433 12,694 1,846 * Inter-company liabilities represent payable balances of each VIE due to subsidiaries within the Group pursuant to the technology consulting and service agreements. Other payables to non-VIE subsidiaries For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Total revenues 24,603 29,208 33,992 4,944 Net loss (464 ) (626 ) (6,834 ) (994 ) Net cash provided by (used in) operating activities 2,737 3,698 2,396 348 Net cash provided by (used in) investing activities (9,471 ) (5,725 ) (16,674 ) (2,425 ) Net cash provided by (used in) financing activities 5,098 2,985 11,916 1,733 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Estimated Useful lives of Fixed Assets | Fixed assets are stated at cost less accumulated depreciation. Depreciation is recorded on a straight-line basis over the shorter of the estimated useful lives of the assets or the term of the related lease, as follows: Office building – 43 to 45 years Office building related facility, machinery and equipment – 15 years Computer equipment – 3 to 5 years Office equipment – 3 to 5 years Vehicles – 5 years Leasehold improvements – over the shorter of lease terms or estimated useful lives of the assets |
Intangible Assets, Weighted Average Economic Lives from Date of Purchase | Intangible assets have weighted average useful lives from the date of purchase as follows: Land use rights – 50 years Customer relationships – 3 years Software – 5 years Trademarks – 9 years User list – 3 years Licensed copyrights of video contents – 3 years Others – 6 years |
Summary of Revenues Disaggregated by Revenue Source | The following table presents the Company’s revenues disaggregated by revenue source: For the years ended December 31, December 31, December 31, December 31, RMB RMB RMB US$ (In millions) Online marketing 64,525 73,146 81,912 11,914 iQIYI membership service 3,759 6,532 10,603 1,542 iQIYI content distribution 501 1,192 2,163 315 Interest income earned from provision of financial services 222 1,658 1,724 251 Others 1,542 2,281 5,875 854 Other revenue 6,024 11,663 20,365 2,962 Total revenue 70,549 84,809 102,277 14,876 |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Business Combinations [Abstract] | |
Summary of Estimated Fair Values of Assets Acquired, Liabilities Assumed and Noncontrolling Interest | Results of the acquired entities’ operations have been included in the Company’s consolidated financial statements since the acquisition dates. RMB US$ (In millions) Purchase consideration 2,378 346 Net assets acquired, excluding intangible assets and the related deferred tax liabilities 1,545 225 Intangible assets, net 1,424 207 Deferred tax liabilities (292 ) (42 ) Pre-existing (1,651 ) (240 ) Noncontrolling interests (1,312 ) (191 ) Redeemable noncontrolling interests (Note 16) (698 ) (102 ) Goodwill 3,362 489 2,378 346 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Schedule of Unrealized and Realized Gains and Losses of Equity Securities Without Readily Determinable Fair Values | Total unrealized and realized gains and losses of equity securities without readily determinable fair values in 2018 were as follows: For the year ended RMB US$ (In millions) Gross unrealized gains (upward adjustments) 7,119 1,035 Gross unrealized losses (downward adjustments excluding impairment) (2,412 ) (351 ) Net unrealized gains and losses on equity securities held 4,707 684 Net realized gains on equity securities sold 124 18 Total net gains recognized in other income, net 4,831 702 |
Schedule of Investments at Amortized Cost and Fair Value | Investments classification as of December 31, 2017 and 2018 were shown as below: As of December 31, 2017 Cost or cost Gross gains Gross Gross Gross Fair value RMB RMB RMB RMB RMB RMB (In millions) Short-term investments Held-to-maturity 48,666 47 (18 ) — — 48,695 Available-for-sale 40,139 — — 581 (5 ) 40,715 Other invested securities 18,289 — — 169 (108 ) 18,350 Long-term investments Available-for-sale 2,077 — — 742 (46 ) 2,773 Investments accounted for at fair value 307 — — 14 — 321 As of December 31, 2018 Cost or Gross unrecognized gains Gross Gross Gross Fair value RMB RMB RMB RMB RMB RMB US$ (In millions) Short-term investments Held-to-maturity 27,388 119 — — — 27,507 4,001 Available-for-sale 83,100 — — 1,216 (78 ) 84,238 12,252 Long-term investments Equity investments at fair value with readily determinable fair value 5,605 — — 664 (1,841 ) 4,428 644 Available-for-sale 1,167 — — — — 1,167 170 Investments accounted for at fair value 1,139 — — 318 — 1,457 212 |
Ctrip.com International, Ltd | |
Equity Method Investments | The following tables set forth the summarized financial information of Ctrip: As of September 30, (i) 2017 (ii) 2018 2018 RMB RMB US$ (In millions) Current assets 63,241 84,464 12,285 Non-current 99,986 104,906 15,258 Current liabilities 41,972 69,065 10,045 Non-current 37,590 30,318 4,410 Noncontrolling interests 1,935 2,231 324 For the twelve months ended September 30, (i) 2016 (ii) 2017 (ii) 2018 (ii) 2018 (ii) RMB RMB RMB US$ (In millions) Total revenues 17,642 25,731 29,944 4,355 Gross profit 12,669 20,725 24,019 3,493 (Loss) income from operations (1,681 ) 2,626 3,302 480 Net (loss) income (2,177 ) 2,282 2,807 408 Net (loss) income attributable to the investees (2,000 ) 2,284 2,806 408 (i) The Company adopted a one-quarter (ii) Ctrip adopted ASC 606 (on a fully retrospective basis) and ASC 321 (collectively “new standards”) from January 1, 2018. The impact of the new standards on the Company’s financial statement is immaterial, and the prior period financial information of Ctrip was not restated. |
Other Equity Method Investees Excluding Ctrip Com Member [Member] | |
Equity Method Investments | Financial information for the Company’s equity method investments other than Ctrip are summarized as a group as follow: As of September 30, (i) 2017 (ii) 2018 (ii) 2018 (ii) RMB RMB US$ (In millions) Current assets 4,914 100,313 14,590 Non-current 653 11,050 1,607 Current liabilities 579 78,935 11,481 Non-current 21 2,718 395 Noncontrolling interests 2 1,706 248 For the twelve months (i) 2016 (ii) 2017 (ii) 2018 (ii) 2018 (ii) RMB RMB RMB US$ (In millions) Total revenues 963 1,681 4,633 674 Gross profit 290 671 916 133 Loss from operations (359 ) (303 ) (418 ) (61 ) Net loss (373 ) (310 ) (372 ) (54 ) Net loss attributable to the investees (396 ) (311 ) (352 ) (51 ) (i) The Company adopted a one-quarter (ii) Financial information of equity method investees were presented under legacy GAAP, the impact of the new standards on the Company’s financial statements is insignificant. |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Schedule of Accounts Receivable | As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Accounts receivable 4,887 6,614 962 Allowance for doubtful accounts (316 ) (599 ) (87 ) 4,571 6,015 875 |
Movements in Allowance for Doubtful Accounts Balance | The movements in the allowance for doubtful accounts were as follows: 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Balance as of January 1 190 177 316 46 Amounts charged to expenses 39 190 299 43 Amounts written off (52 ) (51 ) (16 ) (2 ) Balance as of December 31 177 316 599 87 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Current Assets | As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Prepaid expenses 398 658 96 Advances to suppliers 764 1,686 245 Receivables from online payment agencies 312 892 130 Deposits 204 247 36 Licensed copyrights 819 1,176 171 Contract assets, net — 1,415 206 Others 928 767 111 3,425 6,841 995 |
Fixed Assets (Tables)
Fixed Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Fixed Assets | As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Computer equipment 18,354 26,186 3,809 Office building 4,003 4,168 606 Office building related facility, machinery and equipment 1,956 2,168 315 Vehicles 80 190 28 Office equipment 690 813 118 Leasehold improvements 341 352 51 Construction in progress 680 720 105 26,104 34,597 5,032 Accumulated depreciation and impairment (13,629 ) (16,694 ) (2,428 ) 12,475 17,903 2,604 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Changes in the Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for each reporting unit from December 31, 2016 to March 31, 2017 were as follows: Search Services Transaction iQIYI Total RMB RMB RMB RMB (In millions) Balance at December 31, 2016 10,785 1,281 3,276 15,342 Goodwill acquired 499 — — 499 Balance at March 31, 2017 11,284 1,281 3,276 15,841 The changes in the carrying amount of goodwill for each reporting unit after March 31, 2017 was as follows: Baidu Core iQIYI Total RMB RMB RMB (In millions) Balance at March 31, 2017 12,565 3,276 15,841 Goodwill acquired 81 — 81 Goodwill disposed (116 ) — (116 ) Balance at December 31, 2017 12,530 3,276 15,806 Goodwill acquired 2,750 612 3,362 Goodwill disposed (569 ) — (569 ) Foreign currency translation and other adjustments (63 ) — (63 ) Balance at December 31, 2018 14,648 3,888 18,536 Balance at December 31, 2018, in US$ 2,130 566 2,696 |
Intangible Assets | Intangible Assets As of December 31, 2017 Gross carrying Accumulated Net carrying value RMB RMB RMB (In millions) Land use right 464 (193 ) 271 Customer relationships 463 (463 ) — Software 537 (499 ) 38 Trademarks 579 (464 ) 115 User list 677 (667 ) 10 Licensed copyrights 9,384 (4,826 ) 4,558 Others 1,066 (591 ) 475 13,170 (7,703 ) 5,467 As of December 31, 2018 Gross carrying Accumulated Net carrying Net carrying RMB RMB RMB US$ (In millions) Land use right 464 (199 ) 265 39 Customer relationships 589 (476 ) 113 16 Software 693 (513 ) 180 26 Trademarks 942 (501 ) 441 64 User list 684 (681 ) 3 — Licensed copyrights 18,081 (11,324 ) 6,757 983 Others 2,291 (869 ) 1,422 207 23,744 (14,563 ) 9,181 1,335 |
Estimated Amortization Expense Relating to Existing Intangible Assets with Finite Lives | Estimated amortization expense relating to the existing intangible assets with finite lives for each of the next five years is as follows: RMB US$ (In millions) For the years ending December 31, 2019 4,096 596 2020 2,566 373 2021 1,196 174 2022 348 51 2023 308 45 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities | As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Accrued payroll and welfare 1,779 1,898 276 Tax payable 2,271 2,342 341 Interest payable 267 382 56 Users’ and distributors’ deposits 563 661 96 Purchase of fixed assets and computer parts 1,592 1,890 275 Traffic acquisition costs 2,482 2,911 423 Bandwidth costs 1,824 2,085 303 Content acquisition costs 5,866 8,873 1,291 Funds collected on behalf of service providers 529 353 51 Payable to merchants 330 340 50 Accrued other operating expenses 7,720 10,680 1,553 Others 2,300 2,966 432 27,523 35,381 5,147 |
Loans Payable (Tables)
Loans Payable (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of Short Term Loans | Short-term loans as of December 31, 2017 and 2018 amounted to RMB1.2 billion and RMB3.0 billion (US$443 million), respectively, which consisted of RMB denominated borrowings from financial institutions in the PRC and were repayable within one year. As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Secured short-term loans borrowed by iQIYI (i) 299 3,046 443 Unsecured short-term (ii) 945 — — 1,244 3,046 443 (i) The repayment of all short-term loans are guaranteed by subsidiaries of iQIYI and either collateralized by an office building of one of iQIYI’s VIEs with a carrying amount of RMB575 million (US$84 million) as of December 31, 2018 or collateralized by restricted cash balances totaling RMB2.2 billion (US$316 million) as of December 31, 2018. (ii) The loan balance was derecognized from the consolidated balance sheet upon disposal of the financial services business (Note 4). |
Notes Payable (Tables)
Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Summary of Company Issued and Publicly Sold Unsecured Senior Notes | The Company issued and publicly sold unsecured senior notes, the detail of each tranches are shown as flow: Issue date Principal (US$ million) Mature date Effective 2017 Notes November 28, 2012 750 November 28, 2017 2.36 %* 2022 Ten-year November 28, 2012 750 November 28, 2022 3.59 % 2018 Notes August 6, 2013 1,000 August 6, 2018 3.39 %* 2019 Notes June 9, 2014 1,000 June 9, 2019 3.00 % 2020 Notes June 30, 2015 750 June 30, 2020 3.13 % 2025 Notes June 30, 2015 500 June 30, 2025 4.22 % 2022 Five-year Notes July 6, 2017 900 July 6, 2022 3.08 % 2027 Notes July 6, 2017 600 July 6, 2027 3.73 % 2023 Notes March 29, 2018 1,000 September 29, 2023 3.99 % 2028 March Notes March 29, 2018 500 March 29, 2028 4.50 % 2024 November Notes November 14, 2018 600 May 14, 2024 4.51 % 2028 November Notes November 14, 2018 400 November 14, 2028 4.99 % 2024 December Notes December 10, 2018 250 May 14, 2024 4.54 % * The 2017 Notes and 2018 Notes were fully repaid when they became due. |
Principal Amount and Unamortized Discount and Debt Issuance Costs | The principal amount and unamortized discount and debt issuance costs as of December 31, 2017 and 2018 were as follows: As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Principal amount 35,782 49,867 7,253 Unamortized discount and debt issuance costs (171 ) (261 ) (38 ) 35,611 49,606 7,215 |
Long Term Loans Principal Repayments | The following table summarizes the aggregate required repayments of the principal amounts of the Company’s long-term debts, including the notes payable and loans payable (Note10), in the succeeding five years and thereafter: RMB US$ (In millions) For the years ending December 31, 2019 6,960 1,012 2020 5,801 844 2021 6,876 1,000 2022 11,345 1,650 2023 6,876 1,000 Thereafter 19,595 2,850 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income (Loss) Before Income Taxes | Income (loss) before income taxes consists of: For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) PRC 18,194 22,088 23,524 3,421 Non-PRC (3,685 ) (805 ) 3,801 553 14,509 21,283 27,325 3,974 |
Components of Income Tax | Income taxes consist of: For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Current income tax 3,462 4,224 6,184 900 Income tax refund due to reduced tax rate (535 ) (473 ) (680 ) (99 ) Adjustments of deferred tax assets due to change in tax rates (13 ) 7 — — Deferred income tax benefit (1 ) (763 ) (761 ) (111 ) 2,913 2,995 4,743 690 |
Reconciliation of Effective Income Tax Provision of Tax Computed By Applying Statutory Income Tax Rate to Pre-Tax Income | The reconciliation of the actual income taxes to the amount of tax computed by applying the aforementioned statutory income tax rate to pre-tax For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions, except for per share data) Expected taxation at PRC statutory tax rate 3,627 5,321 6,831 994 Effect of differing tax rates in different jurisdictions 736 854 493 72 Non-taxable (73 ) (913 ) (1,555 ) (226 ) Non-deductible 115 653 935 136 Research and development super-deduction (726 ) (905 ) (1,047 ) (152 ) Effect of PRC preferential tax rates and tax holiday (1,851 ) (2,095 ) (2,250 ) (327 ) Effect of tax rate changes on deferred taxes (13 ) 7 — — Over-accrued EIT for previous years (520 ) (579 ) (616 ) (90 ) PRC withholding tax 283 101 553 80 Addition to valuation allowance 1,335 551 1,399 203 Taxation for the year 2,913 2,995 4,743 690 Effective tax rate 20% 14% 17% 17% Effect of preferential tax rates inside the PRC on basic earnings per Class A and Class B ordinary share 53.41 60.33 64.47 9.38 |
Tax Effects of Temporary Differences that Gave Rise to Deferred Tax Balances | The tax effects of temporary differences that gave rise to the deferred tax balances at December 31, 2017 and 2018 are as follows: As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Deferred tax assets: Provision for doubtful receivables 287 252 37 Accrued expenses, payroll and others 2,849 4,284 622 Fixed assets depreciation 53 60 9 Net operating loss carry-forward 1,061 1,609 234 Less: valuation allowance (2,718 ) (3,881 ) (564 ) Deferred tax assets, net 1,532 2,324 338 As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Deferred tax liabilities: Long-lived assets arising from acquisitions 133 360 52 Withholding tax on PRC subsidiaries’ undistributed earnings 586 619 90 Tax on capital gains 2,460 2,778 404 Other 196 342 50 3,375 4,099 596 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Future Minimum Payments Under Non-cancelable Operating Leases with Initial Terms of One-Year or More | Future minimum payments under non-cancelable one-year RMB US$ (In millions) 2019 1,820 265 2020 453 66 2021 258 38 2022 119 17 2023 95 14 Thereafter 44 6 2,789 406 |
Future Minimum Lease Payments For Non-cancelable Agreements For Licensed Copyrights and Produced Content | Future minimum payments under non-cancelable RMB US$ (In millions) 2019 8,834 1,285 2020 6,977 1,015 2021 4,792 697 2022 980 142 2023 943 137 Thereafter 1,050 153 23,576 3,429 |
Redeemable Noncontrolling Int_2
Redeemable Noncontrolling Interests (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Temporary Equity Disclosure [Abstract] | |
Summary of Redeemable Noncontrolling Interest | 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Balance as of January 1 3,948 5,492 11,022 1,603 Business combination (Note 3) — — 698 102 Other comprehensive income (loss) 325 (335 ) — — Issuance of subsidiary shares 662 — — — Disposal of subsidiary shares — (2,376 ) — — Accretion of redeemable noncontrolling interests 557 (17 ) 146 21 Conversion of convertible notes of iQIYI — 8,258 — — Conversion of iQIYI preferred shares recognized as redeemable noncontrolling interests to ordinary shares — — (11,150 ) (1,622 ) Balance as of December 31 5,492 11,022 716 104 |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Equity Abstract | |
Retained Earnings | The reserves are not allowed to be transferred to the Company in terms of cash dividends, loans or advances, nor are they allowed for distribution except under liquidation. As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) PRC statutory reserve funds 488 515 75 Unreserved retained earnings 101,840 128,731 18,723 Total retained earnings 102,328 129,246 18,798 |
Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax | The changes in accumulated other comprehensive income (loss) by component, net of tax, were as follows: Foreign Unrealized available-for- Total RMB RMB RMB (In millions) Balance at December 31, 2015 (1,106 ) 300 (806 ) Other comprehensive income (loss) before reclassification (593 ) 515 (78 ) Amounts reclassified from accumulated other comprehensive income — (572 ) (572 ) Net current-period other comprehensive loss (593 ) (57 ) (650 ) Other comprehensive income attribute to noncontrolling interests and redeemable noncontrolling interests (327 ) — (327 ) Balance at December 31, 2016 (2,026 ) 243 (1,783 ) Other comprehensive income before reclassification 732 2,574 3,306 Amounts reclassified from accumulated other comprehensive income 71 (999 ) (928 ) Net current-period other comprehensive income 803 1,575 2,378 Other comprehensive loss attribute to noncontrolling interests and redeemable noncontrolling interests 335 — 335 Balance at December 31, 2017 (888 ) 1,818 930 Cumulative effect of accounting change * — (1,854 ) (1,854 ) Other comprehensive income before reclassification 114 4,117 4,231 Amounts reclassified from accumulated other comprehensive income 80 (2,171 ) (2,091 ) Net current-period other comprehensive income 194 92 286 Other comprehensive income attribute to noncontrolling interests and redeemable noncontrolling interests (1,006 ) — (1,006 ) Balance at December 31, 2018 (1,700 ) 1,910 210 Balance at December 31, 2018, in US$ (247 ) 278 31 * Adjustment of net unrealized gains related to available-for-sale |
Tax Effect Allocated to Each Component of Other Comprehensive Income (loss) | The following table sets forth the tax effect allocated to each component of other comprehensive income (loss) for the years ended December 31, 2016, 2017 and 2018: For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Unrealized gains on available-for-sale Other comprehensive loss before reclassification (120 ) (215 ) (409 ) (60 ) Amounts reclassified from accumulated other comprehensive income 110 163 328 48 Net current-period other comprehensive loss (10 ) (52 ) (81 ) (12 ) |
Earnings Per Share ("EPS") (Tab
Earnings Per Share ("EPS") (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Reconciliation of Net Income to Numerator for Computation of Basic and Diluted Per Share | A reconciliation of net income attributable to Baidu, Inc. in the consolidated statements of comprehensive income to the numerator for the computation of basic and diluted per share for the years ended December 31, 2016, 2017 and 2018 is as follows: For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Net income attributable to Baidu, Inc. 11,632 18,301 27,573 4,010 Accretion of the redeemable noncontrolling interests (557 ) 17 (130 ) (19 ) Numerator for EPS computation 11,075 18,318 27,443 3,991 |
Computation of Basic and Diluted Earnings Per Class A and Class B Ordinary Share | The following table sets forth the computation of basic and diluted earnings per Class A and Class B ordinary share. For the years ended December 31, 2016 2017 2018 2018 Class A Class B Class A Class B Class A Class A Class B Class B RMB RMB RMB RMB RMB US$ RMB US$ (In millions, except for number of shares, per share and per ADS data) Earnings per share – basic: Numerator Allocation of net income attributable to Baidu, Inc. 8,710 2,365 14,488 3,830 21,780 3,167 5,663 824 Denominator Weighted average ordinary shares outstanding 27,263,984 7,401,254 27,464,760 7,260,363 27,697,335 27,697,335 7,201,254 7,201,254 Denominator used for basic EPS 27,263,984 7,401,254 27,464,760 7,260,363 27,697,335 27,697,335 7,201,254 7,201,254 Earnings per share – basic 319.47 319.47 527.51 527.51 786.36 114.37 786.36 114.37 Earnings per share – diluted: Numerator Allocation of net income attributable to Baidu, Inc. for diluted computation 8,716 2,359 14,513 3,805 21,824 3,174 5,619 817 Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares 2,359 — 3,805 — 5,619 817 — — Numerator for diluted EPS calculation 11,075 2,359 18,318 3,805 27,443 3,991 5,619 817 Denominator Weighted average ordinary shares outstanding 27,263,984 7,401,254 27,464,760 7,260,363 27,697,335 27,697,335 7,201,254 7,201,254 Conversion of Class B to Class A ordinary shares 7,401,254 — 7,260,363 — 7,201,254 7,201,254 — — Share-based awards 91,848 — 227,268 — 272,454 272,454 — — Denominator used for diluted EPS 34,757,086 7,401,254 34,952,391 7,260,363 35,171,043 35,171,043 7,201,254 7,201,254 Earnings per share – diluted 318.62 318.62 524.08 524.08 780.27 113.49 780.27 113.49 Earnings per ADS: Denominator used for earnings per ADS – basic 272,639,840 274,647,600 276,973,350 276,973,350 Denominator used for earnings per ADS – diluted 347,570,860 349,523,907 351,710,430 351,710,430 Earnings per ADS – basic 31.95 52.75 78.64 11.44 Earnings per ADS – diluted 31.86 52.41 78.03 11.35 |
Share-Based Awards Plan (Tables
Share-Based Awards Plan (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Total Share-Based Compensation Cost Recognized | The following table summarizes the total share-based compensation cost recognized by the Group: For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Expensed as cost of revenues 103 183 224 33 Expensed as selling, general and administrative 429 973 1,725 251 Expensed as research and development 1,228 2,088 2,727 397 1,760 3,244 4,676 681 |
Baidu | |
Option Activity | The following table summarizes the option activity for the year ended December 31, 2018: Number of Weighted average exercise price Weighted Aggregate intrinsic Share options Outstanding, December 31, 2017 315,397 1,753 8 186 Granted 85,159 1,775 Exercised (66,727 ) 1,608 Forfeited/Cancelled (108,145 ) 1,864 Outstanding, December 31, 2018 225,684 1,751 7 40 Vested and expected to vest 191,811 1,713 7 38 Exercisable at December 31, 2018 108,639 1,542 6 31 |
Assumptions Used to Estimate Fair Values of Share Options Granted | The following table presents the assumptions used to estimate the fair values of the share options granted in the years presented: For the years ended December 31 2016 2017 2018 Risk-free interest rate 1.13%~1.47 % 1.81%~2.08 % 2.57 % Dividend yield — — — Expected volatility range 38.91%~40.09 % 35.99%~38.41 % 34.47%~35.36 % Weighted average expected volatility 39.37 % 38.39 % 34.81 % Expected life (in years) 5.75~5.92 4.99~6.01 4.89~6.25 |
Restricted Shares Activity | Restricted Shares activity for the year ended December 31, 2018 was as follows: Number of shares Weighted average grant (US$) Restricted Shares Unvested, December 31, 2017 819,670 1,899 Granted 427,642 2,232 Vested (259,152 ) 1,920 Forfeited/Cancelled (196,716 ) 1,952 Unvested, December 31, 2018 791,444 2,060 |
iQIYI | |
Option Activity | The following table sets forth the summary of employee option activity under the iQIYI’s 2010 Plan: Number of shares Weighted average exercise price ( ) Weighted Aggregate intrinsic Outstanding, December 31, 2017 306,266,366 0.45 Granted 112,846,527 0.51 Forfeited (13,474,664 ) 0.51 Exercised (25,059,198 ) 0.42 Outstanding, December 31, 2018 380,579,031 0.47 9 630 Vested and expected to vest 382,422,243 0.46 7 635 Exercisable at December 31, 2018 184,247,256 0.42 6 314 |
Total Share-Based Compensation Cost Recognized | The following table summarizes the share-based compensation cost recognized by iQIYI: For the years ended December 31, 2016 2017 2018 2018 RMB RMB RMB US$ (In millions) Expensed as cost of revenues 9 35 83 12 Expensed as selling, general and administrative 30 131 369 54 Expensed as research and development 23 67 104 16 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Amounts due from/due to related parties | As of December 31, 2017 and 2018, amounts due from/due to related parties were as follows: As of December 31, 2017 2018 2018 RMB RMB US$ (In millions) Amounts due from related parties, current: Ctrip (i) 137 58 8 Du Xiaoman (ii) — 77 11 Other related parties (iii) 31 650 95 Total 168 785 114 Amounts due from related parties, non-current: Du Xiaoman (ii) — 3,884 565 Other related parties (iv) 9 413 60 Total 9 4,297 625 Amounts due to related parties, current: Du Xiaoman (v) — 934 136 Ctrip (vi) 122 12 2 Other related parties (vii) 31 781 113 Total 153 1,727 251 Amounts due to related parties, non-current: Du Xiaoman (viii) — 3,729 542 Other related parties (ix) — 631 92 Total — 4,360 634 (i) The balances mainly represent amounts arising from services the Company provided to Ctrip. (ii) The balance represents long-term loans due from Du Xiaoman with interest rates ranging from 4.28% to 5.00%, and amounts arising from services the Company provided to Du Xiaoman. In 2018, the Company provided short-term loans in the amount of RMB12.0 billion (US$1.7 billion) to Du Xiaoman, which were fully repaid as of December 31, 2018. (iii) The balances mainly represent short-term interest-bearing loans provided to investees of the Company. (iv) The balance consist of amount due from the Company’s investees in the ordinary course of business and rental deposits paid in advance to the related party of one of the executive officers. (v) The balance represents amount due to Du Xiaoman services provided by Du Xiaoman to the Company in the ordinary course of business and for other unsettled payments (vi) The balances mainly represent amounts arising from services provided by Ctrip. (vii) The balances mainly represent an interest-bearing loan provided by an investee and amounts arising from services provided by the Company’s investees. (viii) The balance represents mainly long-term loans provided by Du Xiaoman with interest rates ranging from 3.78% to 4.28%. (ix) The balance represents mainly deferred revenue relating to the future services to be provided by the Company’s subsidiary to an equity method investee. |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Summary of Group's Operating Segment Results | The table below provides a summary of the Group’s segment operating results for the years ended December 31, 2016. For the year ended December 31, 2016 Baidu Core iQIYI Intersegment eliminations & Consolidated RMB RMB RMB RMB (In millions) Total revenues 59,470 11,237 (158 ) 70,549 Operating costs and expenses: Cost of revenues 23,806 11,437 35 35,278 Selling, general and administrative 13,493 1,766 (188 ) 15,071 Research and development 9,298 824 29 10,151 Total operating costs and expenses 46,597 14,027 (124 ) 60,500 Operating profit (loss) 12,873 (2,790 ) (34 ) 10,049 Total other income (loss), net 4,730 (271 ) 1 4,460 Income (loss) before income taxes 17,603 (3,061 ) (33 ) 14,509 Income taxes 2,915 13 (15 ) 2,913 Net income (loss) 14,688 (3,074 ) (18 ) 11,596 Less: net income (loss) attributable to noncontrolling interests (30 ) — (6 ) (36 ) Net income attributable to Baidu, Inc. 14,718 (3,074 ) (12 ) 11,632 The table below provides a summary of the Group’s operating segment operating results for the years ended December 31, 2017. For the year ended December 31, 2017 Baidu Core iQIYI Intersegment eliminations & Consolidated RMB RMB RMB RMB (In millions) Total revenues 67,681 17,378 (250 ) 84,809 Operating costs and expenses: Cost of revenues 25,688 17,386 (12 ) 43,062 Selling, general and administrative 10,586 2,675 (133 ) 13,128 Research and development 11,692 1,270 (34 ) 12,928 Total operating costs and expenses 47,966 21,331 (179 ) 69,118 Operating profit (loss) 19,715 (3,953 ) (71 ) 15,691 Total other income (loss), net 5,385 208 (1 ) 5,592 Income (loss) before income taxes 25,100 (3,745 ) (72 ) 21,283 Income taxes 3,001 (8 ) 2 2,995 Net income (loss) 22,099 (3,737 ) (74 ) 18,288 Less: net income (loss) attributable to noncontrolling interests (9 ) — (4 ) (13 ) Net income (loss) attributable to Baidu, Inc. 22,108 (3,737 ) (70 ) 18,301 The table below provides a summary of the Group’s operating segment operating results for the years ended December 31, 2018. For the year ended December 31, 2018 Baidu Core iQIYI Intersegment Consolidated RMB US$ RMB US$ RMB US$ RMB US$ (In millions) Total revenues 78,271 11,384 24,989 3,634 (983 ) (142 ) 102,277 14,876 Operating costs and expenses: Cost of revenues 25,370 3,689 27,133 3,946 (759 ) (109 ) 51,744 7,526 Selling, general and administrative 15,310 2,227 4,168 606 (247 ) (36 ) 19,231 2,797 Research and development 13,783 2,005 1,994 290 (5 ) (1 ) 15,772 2,294 Total operating costs and expenses 54,463 7,921 33,295 4,842 (1,011 ) (146 ) 86,747 12,617 Operating profit (loss) 23,808 3,463 (8,306 ) (1,208 ) 28 4 15,530 2,259 Total other income (loss), net 13,169 1,915 (676 ) (98 ) (698 ) (102 ) 11,795 1,715 Income (loss) before income taxes 36,977 5,378 (8,982 ) (1,306 ) (670 ) (98 ) 27,325 3,974 Income taxes 4,664 678 79 12 — — 4,743 690 Net income (loss) 32,313 4,700 (9,061 ) (1,318 ) (670 ) (98 ) 22,582 3,284 Less: net income (loss) attributable to noncontrolling interests (1,292 ) (188 ) 49 7 (3,748 ) (545 ) (4,991 ) (726 ) Net income (loss) attributable to Baidu, Inc. 33,605 4,888 (9,110 ) (1,325 ) 3,078 447 27,573 4,010 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosure and Measurement on Recurring Basis | Assets and liabilities measured on a recurring basis or disclosed at fair value are summarized below: Fair value measurement or disclosure at December 31, 2017 using Total fair value at Quoted prices in Significant other inputs (Level 2) Significant RMB RMB RMB RMB (In millions) Fair value disclosure Cash equivalents Time deposits 130 130 Money market fund 2,384 2,384 Short-term investments Held-to-maturity 48,695 48,695 Long-term notes payable 35,943 35,943 Fair value measurements on a recurring basis Short-term investments Available-for-sale 40,715 40,715 Other invested securities 18,350 18,350 Long-term investments Available-for-sale 2,773 2,773 Investments accounted for at fair value 321 321 Other non-current Derivative instruments 168 168 Total assets measured at fair value 62,327 2,773 59,233 321 Fair value measurement or disclosure at December 31, 2018 using Total fair value at December 31, 2018 Quoted prices in Significant other inputs (Level 2) Significant RMB US$ RMB RMB RMB (In millions) Fair value disclosure Cash equivalents Time deposits 4,264 620 4,264 Money market fund 3,723 541 3,723 Short-term investments Held-to-maturity 27,507 4,001 27,507 Long-term notes payable 68,763 10,001 68,763 Convertible senior notes 4,923 716 4,923 Fair value measurements on a recurring basis Short-term investments Available-for-sale 79,558 11,571 79,558 Long-term investments Equity investments at fair value with readily determinable fair value 4,428 644 4,428 Investments accounted for at fair value 1,457 212 1,457 Available-for-sale 1,167 170 1,167 Other non-current Derivative instruments 193 28 187 6 Total assets measured at fair value 86,803 12,625 4,428 79,745 2,630 Accounts payable and accrued liabilities Derivative instruments 123 18 123 Amounts due to related parties, non-current Financial liability 341 50 341 Total liabilities measured at fair value 464 68 — 341 123 |
Organization, Consolidation a_3
Organization, Consolidation and Presentation Of Financial Statements - Additional Information (Detail) $ in Millions, ¥ in Billions | 12 Months Ended | |
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | |
Variable Interest Entity [Line Items] | ||
Net assets of VIEs | $ 1,300 | ¥ 9 |
Creditors of the VIEs'third-party liabilities with no recourse to the general credit of the primary beneficiaries | No | |
Exchange rate used for conversion of financial statements from RMB to US dollar | 6.8755 | 6.8755 |
Beijing Perusal | ||
Variable Interest Entity [Line Items] | ||
Interest-free loans provided by a subsidiary of the entity to the shareholders of its variable interest entities | $ 465 | ¥ 3.2 |
Equity pledge agreement expiration period | 2 years | |
Other Vie | ||
Variable Interest Entity [Line Items] | ||
Equity pledge agreement expiration period | 2 years | |
Baidu Netcom | ||
Variable Interest Entity [Line Items] | ||
Interest-free loans provided by a subsidiary of the entity to the shareholders of its variable interest entities | $ 934 | ¥ 6.4 |
Equity pledge agreement expiration period | 2 years |
Financial Statement Balances an
Financial Statement Balances and Amounts of VIEs and Subsidiaries Included in Consolidated Financial Statements After Elimination of Intercompany Balances and Transactions Among VIEs and Subsidiaries within Group (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | Dec. 31, 2018CNY (¥) | ||
Variable Interest Entity [Line Items] | ||||||
Cash and cash equivalents | $ 4,020 | ¥ 11,084 | ¥ 27,638 | |||
Short-term investments | 16,235 | 89,381 | 111,626 | |||
Accounts receivable, net | 875 | 4,571 | 6,015 | |||
Total current assets | 22,557 | 151,169 | 155,094 | |||
Fixed assets, net | 2,604 | 12,475 | 17,903 | |||
Intangible assets, net | 1,335 | 5,467 | 9,181 | |||
Long-term investments, net | 11,702 | 56,283 | 80,454 | |||
Total non-current assets | 20,722 | 100,559 | 142,472 | |||
Total | 43,279 | 251,728 | 297,566 | |||
Accounts payable and accrued liabilities | 5,147 | 27,523 | 35,381 | |||
Customer advances and deposits | 1,067 | 6,785 | 7,338 | |||
Total current liabilities | 8,269 | 82,057 | 56,853 | |||
Non-current | 9,447 | 39,299 | 64,961 | |||
Total liabilities | 17,716 | 121,356 | 121,814 | |||
Total revenues | 14,876 | ¥ 102,277 | ||||
Total revenues | 84,809 | ¥ 70,549 | ||||
Net income (loss) | 3,284 | 22,582 | 18,288 | 11,596 | ||
Variable Interest Entity, Primary Beneficiary | ||||||
Variable Interest Entity [Line Items] | ||||||
Cash and cash equivalents | 276 | 4,045 | 1,895 | |||
Short-term investments | 424 | 2,052 | 2,912 | |||
Accounts receivable, net | 595 | 3,021 | 4,091 | |||
Others | 675 | 5,280 | 4,642 | |||
Total current assets | 1,970 | 14,398 | 13,540 | |||
Fixed assets, net | 608 | 2,845 | 4,183 | |||
Intangible assets, net | 586 | 2,104 | 4,032 | |||
Long-term investments, net | 2,752 | 10,614 | 18,923 | |||
Others | 1,838 | 6,488 | 12,639 | |||
Total non-current assets | 5,784 | 22,051 | 39,777 | |||
Total | 7,754 | 36,449 | 53,317 | |||
Total current liabilities | 2,887 | 18,775 | 19,851 | |||
Non-current | 1,715 | 5,151 | 11,790 | |||
Total revenues | 4,944 | 33,992 | ||||
Total revenues | 29,208 | 24,603 | ||||
Net income (loss) | (994) | (6,834) | (626) | (464) | ||
Net cash provided by (used in) operating activities | 348 | 2,396 | 3,698 | 2,737 | ||
Net cash provided by (used in) investing activities | (2,425) | (16,674) | (5,725) | (9,471) | ||
Net cash provided by (used in) financing activities | 1,733 | ¥ 11,916 | 2,985 | ¥ 5,098 | ||
Variable Interest Entity, Primary Beneficiary | Third-party Liabilities | ||||||
Variable Interest Entity [Line Items] | ||||||
Accounts payable and accrued liabilities | 2,020 | 14,073 | 13,889 | |||
Customer advances and deposits | 349 | 2,288 | 2,402 | |||
Others | 518 | 2,414 | 3,560 | |||
Total current liabilities | 2,887 | 18,775 | 19,851 | |||
Long-term loans | 1,527 | 4,788 | 10,495 | |||
Others | 188 | 363 | 1,295 | |||
Non-current | 1,715 | 5,151 | 11,790 | |||
Total liabilities | 4,602 | 23,926 | 31,641 | |||
Variable Interest Entity, Primary Beneficiary | Inter-company Liabilities | ||||||
Variable Interest Entity [Line Items] | ||||||
Inter-company payable to subsidiaries for technology consulting and service fees | [1] | 280 | 2,828 | 1,926 | ||
Others | [1] | 1,566 | 4,605 | 10,768 | ||
Total liabilities | [1] | $ 1,846 | ¥ 7,433 | ¥ 12,694 | ||
[1] | Inter-company liabilities represent payable balances of each VIE due to subsidiaries within the Group pursuant to the technology consulting and service agreements. Other payables to non-VIE subsidiaries within the Group were included in third-party liabilities. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions | Dec. 31, 2018USD ($)CustomerUnit | Jan. 01, 2018USD ($) | Jan. 01, 2018CNY (¥) | Dec. 31, 2017CNY (¥)CustomerUnit | Dec. 31, 2018USD ($)CustomerSegment | Dec. 31, 2018CNY (¥)CustomerSegment | Dec. 31, 2017CNY (¥)CustomerSegment | Dec. 31, 2016CNY (¥)Customer | Dec. 31, 2018CNY (¥)Customer | Jan. 01, 2018CNY (¥) |
Summary Of Significant Accounting Policies [Line Items] | ||||||||||
Number of reportable segments | Segment | 2 | 2 | 2 | |||||||
Accounting Policies [Abstract] | ||||||||||
Property, plant and equipment, salvage value, percentage | 4.00% | 4.00% | 4.00% | |||||||
Impairment charges recognized | $ 26 | ¥ 181,000,000 | ¥ 390,000,000 | ¥ 212,000,000 | ||||||
Number of reporting units | Unit | 2 | 2 | ||||||||
Retained earnings | $ 18,798 | ¥ 102,328,000,000 | 18,798 | 102,328,000,000 | ¥ 129,246,000,000 | |||||
VAT recognized | 884 | 6,100,000,000 | 4,800,000,000 | 3,900,000,000 | ||||||
Acquisition of licensed copyrights from nonmonetary content exchanges | 158 | 1,083,000,000 | 763,000,000 | 382,000,000 | ||||||
Gross interest income | 483 | 3,300,000,000 | 3,500,000,000 | |||||||
Gross interest cost | 232 | 1,600,000,000 | 1,900,000,000 | |||||||
Advertising and promotional expenses | 1,500 | ¥ 10,100,000,000 | ¥ 4,600,000,000 | ¥ 7,700,000,000 | ||||||
Cash and cash equivalents, restricted cash and short-term investments | $ 20,600 | $ 20,600 | ¥ 141,500,000,000 | |||||||
Number of customers with receivable balance exceeding 10 % | 0 | 0 | 0 | 0 | 0 | |||||
Number of customer or any Baidu Union partner with revenue greater than 10% | 0 | 0 | 0 | 0 | ||||||
Appreciation of US$ against RMB, as a percentage | 5.67% | 5.67% | ||||||||
Accounting Standards Update 2014-09 | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Retained earnings | $ 136 | ¥ 933,000,000 | ||||||||
Micro loans | Minimum | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Periods of loan granted | 1 month | 1 month | ||||||||
Micro loans | Maximum | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Periods of loan granted | 36 months | 36 months | ||||||||
Online Payment Agencies | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Allowance for doubtful accounts of online payment agencies | ¥ | ¥ 0 | ¥ 0 | ¥ 0 | |||||||
iQIYI Licensed Copyright | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Acquisition of licensed copyrights from nonmonetary content exchanges | $ 158 | ¥ 1,100,000,000 | 763,000,000 | ¥ 382,000,000 | ||||||
Barter transaction, Cost Recognized | $ 149 | ¥ 1,000,000,000 | 650,000,000 | ¥ 363,000,000 | ||||||
Short-term Investments | Minimum | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Maturity period used to classify cash and cash equivalent and investments | 3 months | 3 months | ||||||||
Short-term Investments | Maximum | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Maturity period used to classify cash and cash equivalent and investments | 12 months | 12 months | ||||||||
Cash and cash equivalents | Maximum | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Maturity period used to classify cash and cash equivalent and investments | 3 months | 3 months | ||||||||
Other non-current assets | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Produced content cost | $ 543 | ¥ 1,600,000,000 | $ 543 | ¥ 1,600,000,000 | 3,700,000,000 | |||||
Other Current Assets, net | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Contract assets | 206 | 206 | 1,400,000,000 | ¥ 832,000,000 | ||||||
Allowance for doubtful accounts receivable | $ 3 | $ 3 | ¥ 21,000,000 | |||||||
Credit Concentration Risk | Sales Revenue, Net | Minimum | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Concentration risk by percentage | 10.00% | 10.00% | ||||||||
Credit Concentration Risk | Onshore China | Financial Instruments | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Concentration risk by percentage | 94.00% | |||||||||
Credit Concentration Risk | Onshore China | Financial Institution One [Member] | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Concentration risk by percentage | 37.00% | |||||||||
Credit Concentration Risk | Onshore China | Financial Institution Two [Member] | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Concentration risk by percentage | 15.00% | |||||||||
Credit Concentration Risk | Onshore China | Financial Institution Three [Member] | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Concentration risk by percentage | 13.00% | |||||||||
Credit Concentration Risk | Onshore China | Financial Institution Four [Member] | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Concentration risk by percentage | 11.00% | |||||||||
Credit Concentration Risk | Offshore China | Financial Instruments | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Concentration risk by percentage | 6.00% | |||||||||
Ordinary Shares | Accounting Standards Update 2016-01 | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Cumulative effect on retained earnings | $ 270 | ¥ 1,900,000,000 | ||||||||
Office building and its related facility | ||||||||||
Accounting Policies [Abstract] | ||||||||||
Property, plant and equipment, salvage value, percentage | 4.00% | 4.00% | 4.00% |
Estimated Useful Lives of Fixed
Estimated Useful Lives of Fixed Assets (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Office building | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 43 years |
Office building | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 45 years |
Office building related facility, machinery and equipment | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 15 years |
Computer equipment | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 3 years |
Computer equipment | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 5 years |
Office equipment | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 3 years |
Office equipment | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 5 years |
Vehicles | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 5 years |
Leasehold improvements | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life (description) | over the shorter of lease terms or estimated useful lives of the assets |
Weighted Average Useful Lives f
Weighted Average Useful Lives from Date of Purchase of Intangible Assets (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Land use right | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset weighted average economic life | 50 years |
Customer relationships | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset weighted average economic life | 3 years |
Software | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset weighted average economic life | 5 years |
Trademarks | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset weighted average economic life | 9 years |
User list | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset weighted average economic life | 3 years |
Licensed copyrights | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset weighted average economic life | 3 years |
Others | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset weighted average economic life | 6 years |
Summary of Revenues Disaggregat
Summary of Revenues Disaggregated by Revenue Source (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Disaggregation of Revenue [Line Items] | ||||
Total revenue | ¥ 84,809 | ¥ 70,549 | ||
Total revenue | $ 14,876 | ¥ 102,277 | ||
Online Marketing Services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 73,146 | 64,525 | ||
Total revenue | 11,914 | 81,912 | ||
Other Revenue iQIYI Membership Service | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 6,532 | 3,759 | ||
Total revenue | 1,542 | 10,603 | ||
Other Revenue iQIYI Content Distribution | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 1,192 | 501 | ||
Total revenue | 315 | 2,163 | ||
Other Interest Income Earned from Provision of Financial Services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 1,658 | 222 | ||
Total revenue | 251 | 1,724 | ||
Other Revenue Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 2,281 | 1,542 | ||
Total revenue | 854 | 5,875 | ||
Other Revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | ¥ 11,663 | ¥ 6,024 | ||
Total revenue | $ 2,962 | ¥ 20,365 |
Summary of Estimated Fair Value
Summary of Estimated Fair Values of Assets Acquired, Liabilities Assumed and Noncontrolling Interest (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Mar. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Business Acquisition [Line Items] | ||||||
Goodwill | $ 2,696 | ¥ 18,536 | ¥ 15,806 | ¥ 15,841 | ¥ 15,342 | |
Series of Individually Immaterial Business Acquisitions | ||||||
Business Acquisition [Line Items] | ||||||
Purchase consideration | 346 | ¥ 2,378 | ||||
Net assets acquired, excluding intangible assets and the related deferred tax liabilities | 225 | 1,545 | ||||
Intangible assets, net | 207 | 1,424 | ||||
Deferred tax liabilities | (42) | (292) | ||||
Pre-existing equity interests | (240) | ¥ (1,651) | ||||
Noncontrolling interests | (191) | (1,312) | ||||
Redeemable noncontrolling interests (Note 16) | (102) | (698) | ||||
Goodwill | 489 | 3,362 | ||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest | $ 346 | ¥ 2,378 |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) - 12 months ended Dec. 31, 2018 ¥ in Millions, $ in Millions | USD ($) | CNY (¥) |
Business Combinations [Abstract] | ||
Re-measurement gain relating to pre-existing equity interest | $ 92 | ¥ 630 |
Investments - Short-term Invest
Investments - Short-term Investments - Additional information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Schedule of Investments [Line Items] | ||||
Investment interest income | $ 647 | ¥ 4,451 | ¥ 3,154 | ¥ 2,342 |
Short-term Investments | ||||
Schedule of Investments [Line Items] | ||||
Investment interest income | $ 564 | ¥ 3,900 | ¥ 3,000 | ¥ 2,300 |
Investments - Long-term Investm
Investments - Long-term Investments - Additional information (Detail) ¥ in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | |||||||||
Aug. 31, 2018USD ($) | Aug. 31, 2018CNY (¥) | Aug. 31, 2017CNY (¥) | May 31, 2017CNY (¥) | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2016CNY (¥) | Dec. 31, 2018CNY (¥) | Aug. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Oct. 31, 2017CNY (¥) | |
Schedule of Investments [Line Items] | |||||||||||
Carrying amount of cost method investments | ¥ 21,800 | ||||||||||
Carrying amount of equity investments without readily determinable fair value | $ 4,300 | ¥ 29,300 | |||||||||
Accumulated impairment of equity investments without readily determinable fair value | 191 | 1,300 | |||||||||
Carrying amount of equity method investments | $ 6,400 | ¥ 44,100 | ¥ 31,400 | ||||||||
Uber | |||||||||||
Schedule of Investments [Line Items] | |||||||||||
Gains recognized on share exchange transaction | ¥ 2,000 | ||||||||||
Mobile Game Business | |||||||||||
Schedule of Investments [Line Items] | |||||||||||
Gains recognized on share exchange transaction | ¥ 923 | ||||||||||
China United Network Communication Limited [Member] | |||||||||||
Schedule of Investments [Line Items] | |||||||||||
Total purchase consideration | ¥ 7,000 | ||||||||||
Total purchase consideration attributable to the noncontrolling interest | ¥ 4,000 | ||||||||||
Certain Group of Assets and Subsidiaries | |||||||||||
Schedule of Investments [Line Items] | |||||||||||
Aggregate deconsolidated gain | ¥ 1,400 | ||||||||||
Ctrip.com International, Ltd | |||||||||||
Schedule of Investments [Line Items] | |||||||||||
Equity method investment, percentage of ownership | 19.00% | 19.00% | |||||||||
Fair value of equity investment | $ 2,800 | ¥ 19,600 | |||||||||
Xiaodu Life Technology Ltd | |||||||||||
Schedule of Investments [Line Items] | |||||||||||
Gains recognized on share exchange transaction | ¥ 4,600 | ||||||||||
Long-term investments | Equity Investments | |||||||||||
Schedule of Investments [Line Items] | |||||||||||
Impairment charges recognized on equity investments measured at fair value using the measurement alternative | 66 | ¥ 455 | |||||||||
Equity investments measured at fair value using the measurement alternative | $ 3,100 | ¥ 21,600 | |||||||||
Du Xiaoman Financial | |||||||||||
Schedule of Investments [Line Items] | |||||||||||
Aggregate deconsolidated gain | $ 803 | ¥ 5,500 | |||||||||
Re-measurement of retained investment | $ 604 | ¥ 4,200 | |||||||||
Equity interest percentage | 41.00% | 41.00% | |||||||||
Equity method goodwill | $ 512 | ¥ 3,500 | |||||||||
Intangible assets | 124 | 851 | |||||||||
Deferred tax liabilities | $ 31 | ¥ 213 |
Schedule of Unrealized and Real
Schedule of Unrealized and Realized Gains and Losses of Equity Securities Without Readily Determinable Fair Values (Detail) - 12 months ended Dec. 31, 2018 ¥ in Millions, $ in Millions | USD ($) | CNY (¥) |
Equity Securities, FV-NI and without Readily Determinable Fair Value [Abstract] | ||
Gross unrealized gains (upward adjustments) | $ 1,035 | ¥ 7,119 |
Gross unrealized losses (downward adjustments excluding impairment) | (351) | (2,412) |
Net unrealized gains and losses on equity securities held | 684 | 4,707 |
Net realized gains on equity securities sold | 18 | 124 |
Total net gains recognized in other income, net | $ 702 | ¥ 4,831 |
Summarized Financial Informatio
Summarized Financial Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||||||||||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Sep. 30, 2018USD ($) | Sep. 30, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Sep. 30, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | Sep. 30, 2016CNY (¥) | Dec. 31, 2018CNY (¥) | Sep. 30, 2018CNY (¥) | |||
Ctrip.com International, Ltd | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Current assets | [1] | $ 12,285 | ¥ 63,241 | [2] | ¥ 84,464 | |||||||
Non-current assets | [1] | 15,258 | 99,986 | [2] | 104,906 | |||||||
Current liabilities | [1] | 10,045 | 41,972 | [2] | 69,065 | |||||||
Non-current liabilities | [1] | 4,410 | 37,590 | [2] | 30,318 | |||||||
Noncontrolling interests | [1] | 324 | 1,935 | [2] | ¥ 2,231 | |||||||
Total revenues | [1],[2] | 4,355 | ¥ 29,944 | 25,731 | ¥ 17,642 | |||||||
Gross profit | [1],[2] | 3,493 | 24,019 | 20,725 | 12,669 | |||||||
(Loss) income from operations | [1],[2] | 480 | 3,302 | 2,626 | (1,681) | |||||||
Net (loss) income | [1],[2] | 408 | 2,807 | 2,282 | (2,177) | |||||||
Net (loss) income attributable to the investees | [1],[2] | $ 408 | ¥ 2,806 | ¥ 2,284 | ¥ (2,000) | |||||||
Other Equity Method Investees Excluding Ctrip,com | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Current assets | [3],[4] | $ 14,590 | ¥ 4,914 | ¥ 100,313 | ||||||||
Non-current assets | [3],[4] | 1,607 | 653 | 11,050 | ||||||||
Current liabilities | [3],[4] | 11,481 | 579 | 78,935 | ||||||||
Non-current liabilities | [3],[4] | 395 | 21 | 2,718 | ||||||||
Noncontrolling interests | [3],[4] | 248 | 2 | ¥ 1,706 | ||||||||
Total revenues | [3],[4] | 674 | ¥ 4,633 | 1,681 | ¥ 963 | |||||||
Gross profit | [3],[4] | 133 | 916 | 671 | 290 | |||||||
(Loss) income from operations | [3],[4] | (61) | (418) | (303) | (359) | |||||||
Net (loss) income | [3],[4] | (54) | (372) | (310) | (373) | |||||||
Net (loss) income attributable to the investees | [3],[4] | $ (51) | ¥ (352) | ¥ (311) | ¥ (396) | |||||||
[1] | The Company adopted a one-quarter lag in reporting its share of equity income in Ctrip | |||||||||||
[2] | Ctrip adopted ASC 606 (on a fully retrospective basis) and ASC 321 (collectively "new standards") from January 1, 2018. The impact of the new standards on the Company's financial statement is immaterial, and the prior period financial information of Ctrip was not restated. | |||||||||||
[3] | Financial information of equity method investees were presented under legacy GAAP, the impact of the new standards on the Company's financial statements is insignificant. | |||||||||||
[4] | The Company adopted a one-quarter lag in reporting its shares of equity income in all of its investees. |
Schedule of Investments at Amor
Schedule of Investments at Amortized Cost and Fair Value (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Other Invested Securities | |||
Amortized cost, Gain (loss) and Fair value on Investments [Line Items] | |||
Other invested securities, cost or amortized cost | ¥ 18,289 | ||
Other invested securities, gross unrealized gains | 169 | ||
Other invested securities, gross unrealized losses | (108) | ||
Other invested securities, fair value | 18,350 | ||
Short-term Investments | |||
Amortized cost, Gain (loss) and Fair value on Investments [Line Items] | |||
Held-to-maturity debt investments, fair value | $ 4,001 | ¥ 27,507 | 48,695 |
Available-for-sale debt investments, fair value | 11,571 | 79,558 | 40,715 |
Short-term Investments | Corporate Debt Securities | |||
Amortized cost, Gain (loss) and Fair value on Investments [Line Items] | |||
Held-to-maturity debt investments, cost or amortized cost | 27,388 | 48,666 | |
Held-to-maturity debt investments, gross unrecognized holding gains | 119 | 47 | |
Held-to-maturity debt investments, gross unrecognized holding losses | (18) | ||
Held-to-maturity debt investments, fair value | 4,001 | 27,507 | 48,695 |
Available-for-sale debt investments, cost or amortized cost | 83,100 | 40,139 | |
Available-for-sale debt investments, gross unrealized gains | 1,216 | 581 | |
Available-for-sale debt investments, gross unrealized losses | (78) | (5) | |
Available-for-sale debt investments, fair value | 12,252 | 84,238 | 40,715 |
Long-term investments | |||
Amortized cost, Gain (loss) and Fair value on Investments [Line Items] | |||
Available-for-sale debt investments, fair value | 170 | 1,167 | |
Equity investments at fair value with readily determinable fair value, fair value | 644 | 4,428 | |
Investments accounted for at fair value, fair value | 212 | 1,457 | 321 |
Long-term investments | Corporate Debt Securities | |||
Amortized cost, Gain (loss) and Fair value on Investments [Line Items] | |||
Available-for-sale debt investments, cost or amortized cost | 1,167 | ||
Available-for-sale debt investments, fair value | 170 | 1,167 | |
Long-term investments | Equity Investments | |||
Amortized cost, Gain (loss) and Fair value on Investments [Line Items] | |||
Available-for-sale equity investments, cost or amortized cost | 2,077 | ||
Available-for-sale equity investments, gross unrealized gains | 742 | ||
Available-for-sale equity investments, gross unrealized losses | (46) | ||
Available-for-sale equity investments, fair value | 2,773 | ||
Investments accounted for at fair value, cost or amortized cost | 1,139 | 307 | |
Investments accounted for at fair value, gross unrealized gains | 318 | 14 | |
Investments accounted for at fair value, fair value | 212 | 1,457 | ¥ 321 |
Long-term investments | Ordinary Shares | |||
Amortized cost, Gain (loss) and Fair value on Investments [Line Items] | |||
Equity investments at fair value with readily determinable fair value, cost or amortized cost | 5,605 | ||
Equity investments at fair value with readily determinable fair value, gross unrealized gains | 664 | ||
Equity investments at fair value with readily determinable fair value, gross unrealized loss | (1,841) | ||
Equity investments at fair value with readily determinable fair value, fair value | $ 644 | ¥ 4,428 |
Accounts Receivable (Detail)
Accounts Receivable (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017USD ($) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | Dec. 31, 2015CNY (¥) |
Receivables [Abstract] | ||||||
Accounts receivable | $ 962 | ¥ 6,614 | ¥ 4,887 | |||
Allowance for doubtful accounts | (87) | (599) | $ (46) | (316) | ¥ (177) | ¥ (190) |
Accounts receivable, net | $ 875 | ¥ 6,015 | ¥ 4,571 |
Movement in Allowance for Doubt
Movement in Allowance for Doubtful Accounts (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Allowance for Doubtful Accounts | ||||
Balance as of January 1 | $ 46 | ¥ 316 | ¥ 177 | ¥ 190 |
Amounts charged to expenses | 43 | 299 | 190 | 39 |
Amounts written off | (2) | (16) | (51) | (52) |
Balance as of December 31 | $ 87 | ¥ 599 | ¥ 316 | ¥ 177 |
Other Current Assets (Detail)
Other Current Assets (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Prepaid Expense and Other Assets [Abstract] | |||
Prepaid expenses | $ 96 | ¥ 658 | ¥ 398 |
Advances to suppliers | 245 | 1,686 | 764 |
Receivables from online payment agencies | 130 | 892 | 312 |
Deposits | 36 | 247 | 204 |
Licensed copyrights | 171 | 1,176 | 819 |
Contract assets, net | 206 | 1,415 | |
Others | 111 | 767 | 928 |
Other assets, current | $ 995 | ¥ 6,841 | ¥ 3,425 |
Fixed Assets (Detail)
Fixed Assets (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 5,032 | ¥ 34,597 | ¥ 26,104 |
Accumulated depreciation and impairment | (2,428) | (16,694) | (13,629) |
Fixed assets, net | 2,604 | 17,903 | 12,475 |
Computer equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 3,809 | 26,186 | 18,354 |
Office building | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 606 | 4,168 | 4,003 |
Office building related facility, machinery and equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 315 | 2,168 | 1,956 |
Vehicles | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 28 | 190 | 80 |
Office equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 118 | 813 | 690 |
Leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 51 | 352 | 341 |
Construction in Progress | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 105 | ¥ 720 | ¥ 680 |
Fixed Assets - Additional Infor
Fixed Assets - Additional Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | Dec. 31, 2018CNY (¥) | |
Property, Plant and Equipment [Abstract] | |||||
Capital leases, asset gross | $ 29 | ¥ 198 | ¥ 201 | ||
Capital leases, accumulated depreciation | 29 | 198 | ¥ 201 | ||
Fixed assets, depreciation expense | 536 | ¥ 3,700 | 3,800 | ¥ 3,400 | |
Impairment loss on fixed assets | $ 0 | ¥ 0 | ¥ 70 | ¥ 0 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Additional Information (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2018Unit | Dec. 31, 2017Unit | Dec. 31, 2016Unit | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) |
Amortization Of Intangible Assets Disclosure [Abstract] | |||||||
Number of reporting units the company | 2 | 2 | 3 | ||||
Impairment loss on intangible assets excluding licensed copyrights | $ 0.7 | ¥ 5 | ¥ 139 | ¥ 1 | |||
Amortization expense of intangible assets and licensed copyrights | $ 1,800 | ¥ 12,500 | ¥ 7,900 | ¥ 4,900 |
Changes in the Carrying Amount
Changes in the Carrying Amount of Goodwill (Detail) ¥ in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2017CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | |
Goodwill [Line Items] | ||||
Beginning Balance | ¥ 15,342 | ¥ 15,841 | ¥ 15,806 | |
Goodwill acquired | 499 | 81 | 3,362 | |
Goodwill disposed | (116) | (569) | ||
Foreign currency translation and other adjustments | (63) | |||
Ending Balance | 15,841 | 15,806 | $ 2,696 | 18,536 |
Search Services | ||||
Goodwill [Line Items] | ||||
Beginning Balance | 10,785 | 11,284 | ||
Goodwill acquired | 499 | |||
Ending Balance | 11,284 | |||
Transaction Services | ||||
Goodwill [Line Items] | ||||
Beginning Balance | 1,281 | 1,281 | ||
Goodwill acquired | 0 | |||
Ending Balance | 1,281 | |||
iQIYI | ||||
Goodwill [Line Items] | ||||
Beginning Balance | 3,276 | 3,276 | 3,276 | |
Goodwill acquired | 0 | 0 | 612 | |
Goodwill disposed | 0 | 0 | ||
Foreign currency translation and other adjustments | 0 | |||
Ending Balance | 3,276 | 3,276 | 566 | 3,888 |
Baidu Core | ||||
Goodwill [Line Items] | ||||
Beginning Balance | 12,565 | 12,530 | ||
Goodwill acquired | 81 | 2,750 | ||
Goodwill disposed | (116) | (569) | ||
Foreign currency translation and other adjustments | (63) | |||
Ending Balance | ¥ 12,565 | ¥ 12,530 | $ 2,130 | ¥ 14,648 |
Finite-Lived Intangible Assets
Finite-Lived Intangible Assets (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, gross carrying value | ¥ 23,744 | ¥ 13,170 | |
Finite-lived intangible assets, accumulated amortization and impairment | (14,563) | (7,703) | |
Finite-lived intangible assets, net carrying value | $ 1,335 | 9,181 | 5,467 |
Land use right | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, gross carrying value | 464 | 464 | |
Finite-lived intangible assets, accumulated amortization and impairment | (199) | (193) | |
Finite-lived intangible assets, net carrying value | 39 | 265 | 271 |
Customer relationships | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, gross carrying value | 589 | 463 | |
Finite-lived intangible assets, accumulated amortization and impairment | (476) | (463) | |
Finite-lived intangible assets, net carrying value | 16 | 113 | 0 |
Software | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, gross carrying value | 693 | 537 | |
Finite-lived intangible assets, accumulated amortization and impairment | (513) | (499) | |
Finite-lived intangible assets, net carrying value | 26 | 180 | 38 |
Trademarks | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, gross carrying value | 942 | 579 | |
Finite-lived intangible assets, accumulated amortization and impairment | (501) | (464) | |
Finite-lived intangible assets, net carrying value | 64 | 441 | 115 |
User list | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, gross carrying value | 684 | 677 | |
Finite-lived intangible assets, accumulated amortization and impairment | (681) | (667) | |
Finite-lived intangible assets, net carrying value | 0 | 3 | 10 |
Licensed copyrights | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, gross carrying value | 18,081 | 9,384 | |
Finite-lived intangible assets, accumulated amortization and impairment | (11,324) | (4,826) | |
Finite-lived intangible assets, net carrying value | 983 | 6,757 | 4,558 |
Others | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, gross carrying value | 2,291 | 1,066 | |
Finite-lived intangible assets, accumulated amortization and impairment | (869) | (591) | |
Finite-lived intangible assets, net carrying value | $ 207 | ¥ 1,422 | ¥ 475 |
Estimated Amortization Expense
Estimated Amortization Expense Relating to Existing Intangible Assets with Finite Lives (Detail) - Dec. 31, 2018 ¥ in Millions, $ in Millions | USD ($) | CNY (¥) |
Estimated amortization expense | ||
2019 | $ 596 | ¥ 4,096 |
2020 | 373 | 2,566 |
2021 | 174 | 1,196 |
2022 | 51 | 348 |
2023 | $ 45 | ¥ 308 |
Accounts Payable and Accrued _3
Accounts Payable and Accrued Liabilities (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Payables and Accruals [Abstract] | |||
Accrued payroll and welfare | $ 276 | ¥ 1,898 | ¥ 1,779 |
Tax payable | 341 | 2,342 | 2,271 |
Interest payable | 56 | 382 | 267 |
Users' and distributors' deposits | 96 | 661 | 563 |
Purchase of fixed assets and computer parts | 275 | 1,890 | 1,592 |
Traffic acquisition costs | 423 | 2,911 | 2,482 |
Bandwidth costs | 303 | 2,085 | 1,824 |
Content acquisition costs | 1,291 | 8,873 | 5,866 |
Funds collected on behalf of service providers | 51 | 353 | 529 |
Payable to merchants | 50 | 340 | 330 |
Accrued other operating expenses | 1,553 | 10,680 | 7,720 |
Others | 432 | 2,966 | 2,300 |
Accounts payable and accrued liabilities | $ 5,147 | ¥ 35,381 | ¥ 27,523 |
Loans Payable - Additional Info
Loans Payable - Additional Information (Detail) | 1 Months Ended | 12 Months Ended | ||||||
Apr. 30, 2017CNY (¥) | Jun. 30, 2016USD ($)Tranche | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Sep. 21, 2018CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Nov. 30, 2016USD ($)Tranche | |
Debt Instrument [Line Items] | ||||||||
Short-term loans | $ 443,000,000 | ¥ 3,046,000,000 | ¥ 1,244,000,000 | |||||
Weighted average interest rates for outstanding borrowings | 4.47% | 4.47% | 4.86% | |||||
Unused line of credit for short term loans | $ 114,000,000 | ¥ 781,000,000 | ¥ 360,000,000 | |||||
Other loans [Member] | iQIYI | ||||||||
Debt Instrument [Line Items] | ||||||||
Outstanding borrowings from third party investors | $ 65,000,000 | ¥ 444,000,000 | ||||||
Effective interest rate | 7.00% | 7.00% | ||||||
Long-term loans, current portion | $ 11,000,000 | ¥ 74,000,000 | ||||||
Long-term loans | 54,000,000 | 370,000,000 | ||||||
Accounts payable to certain suppliers selected for securitization | 76,000,000 | ¥ 525,000,000 | ||||||
Proceeds from issuance of debt securities | $ 65,000,000 | ¥ 446,000,000 | ||||||
Other loans [Member] | iQIYI | Minimum | ||||||||
Debt Instrument [Line Items] | ||||||||
Securities with maturities ranging | 2019 | 2019 | ||||||
Other loans [Member] | iQIYI | Maximum | ||||||||
Debt Instrument [Line Items] | ||||||||
Securities with maturities ranging | 2020 | 2020 | ||||||
Bank Of China Shanghai Branch | iQIYI | ||||||||
Debt Instrument [Line Items] | ||||||||
Specific amount up to which borrowings can be made under the commitment of a bank loan | ¥ | ¥ 299,000,000 | |||||||
Bank loan maturity period | 3 years | |||||||
Amount borrowed under the commitment of a bank loan | ¥ | ¥ 299,000,000 | |||||||
Interest rate | 4.47% | |||||||
Repayment of debt | ¥ | ¥ 15,000,000 | |||||||
A Group Of 21 Arrangers | Unsecured Loan 1 | ||||||||
Debt Instrument [Line Items] | ||||||||
Specific amount up to which borrowings can be made under the commitment of a bank loan | $ 1,000,000,000 | |||||||
Bank loan maturity period | 5 years | |||||||
Number of tranches issued and sold | Tranche | 2 | 2 | ||||||
The percentage points added to LIBOR to compute the floating interest rate per annum | 1.10% | 1.10% | ||||||
A Group Of 21 Arrangers | Unsecured Loan 2 | ||||||||
Debt Instrument [Line Items] | ||||||||
Specific amount up to which borrowings can be made under the commitment of a bank loan | $ 1,000,000,000 | |||||||
Bank loan maturity period | 5 years | |||||||
A Group Of 21 Arrangers | Debt Instrument Tranche One | Unsecured Loan 1 | ||||||||
Debt Instrument [Line Items] | ||||||||
Amount borrowed under the commitment of a bank loan | $ 250,000,000 | $ 250,000,000 | ||||||
Interest rate | 2.11% | 2.78% | ||||||
A Group Of 21 Arrangers | Debt Instrument Tranche Two | Unsecured Loan 1 | ||||||||
Debt Instrument [Line Items] | ||||||||
Amount borrowed under the commitment of a bank loan | $ 250,000,000 | $ 250,000,000 | ||||||
Interest rate | 2.10% | 2.78% |
Loans Payable - Schedule of Sho
Loans Payable - Schedule of Short Term Loans (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
Short-term Debt [Line Items] | ||||
Short term borrowings | $ 443 | ¥ 3,046 | ¥ 1,244 | |
iQIYI | ||||
Short-term Debt [Line Items] | ||||
Secured short-term loans borrowed by iQIYI(i) | [1] | 443 | 3,046 | 299 |
Du Xiaoman Financial | ||||
Short-term Debt [Line Items] | ||||
Unsecured short-term loans borrowed by financial service business (ii) | [2] | $ 0 | ¥ 0 | ¥ 945 |
[1] | The repayment of all short-term loans are guaranteed by subsidiaries of iQIYI and either collateralized by an office building of one of iQIYI's VIEs with a carrying amount of RMB575 million (US$84 million) as of December 31, 2018 or collateralized by restricted cash balances totaling RMB2.2 billion (US$316 million) as of December 31, 2018. | |||
[2] | The loan balance was derecognized from the consolidated balance sheet upon disposal of the financial services business (Note 4). |
Loans Payable - Schedule of S_2
Loans Payable - Schedule of Short Term Loans (Parenthetical) (Detail) - Dec. 31, 2018 - iQIYI ¥ in Millions, $ in Millions | USD ($) | CNY (¥) |
Short-term Debt [Line Items] | ||
Carrying amount of real estate used as collateral | $ 84 | ¥ 575 |
Restricted cash | $ 316 | ¥ 2,200 |
Notes Payable - Summary of Comp
Notes Payable - Summary of Company Issued and Publicly Sold Unsecured Senior Notes (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
2017 Notes | |
Debt and Financial Instruments [Line Items] | |
Issue date | Nov. 28, 2012 |
Principal amount | $ 750 |
Mature date | Nov. 28, 2017 |
Effective interest rate | 2.36% |
2022 Ten-year Notes | |
Debt and Financial Instruments [Line Items] | |
Issue date | Nov. 28, 2012 |
Principal amount | $ 750 |
Mature date | Nov. 28, 2022 |
Effective interest rate | 3.59% |
2018 Notes | |
Debt and Financial Instruments [Line Items] | |
Issue date | Aug. 6, 2013 |
Principal amount | $ 1,000 |
Mature date | Aug. 6, 2018 |
Effective interest rate | 3.39% |
2019 Notes | |
Debt and Financial Instruments [Line Items] | |
Issue date | Jun. 9, 2014 |
Principal amount | $ 1,000 |
Mature date | Jun. 9, 2019 |
Effective interest rate | 3.00% |
2020 Notes | |
Debt and Financial Instruments [Line Items] | |
Issue date | Jun. 30, 2015 |
Principal amount | $ 750 |
Mature date | Jun. 30, 2020 |
Effective interest rate | 3.13% |
2025 Notes | |
Debt and Financial Instruments [Line Items] | |
Issue date | Jun. 30, 2015 |
Principal amount | $ 500 |
Mature date | Jun. 30, 2025 |
Effective interest rate | 4.22% |
2022 Five-year Notes | |
Debt and Financial Instruments [Line Items] | |
Issue date | Jul. 6, 2017 |
Principal amount | $ 900 |
Mature date | Jul. 6, 2022 |
Effective interest rate | 3.08% |
2027 Notes | |
Debt and Financial Instruments [Line Items] | |
Issue date | Jul. 6, 2017 |
Principal amount | $ 600 |
Mature date | Jul. 6, 2027 |
Effective interest rate | 3.73% |
2023 Notes | |
Debt and Financial Instruments [Line Items] | |
Issue date | Mar. 29, 2018 |
Principal amount | $ 1,000 |
Mature date | Sep. 29, 2023 |
Effective interest rate | 3.99% |
2028 March Notes | |
Debt and Financial Instruments [Line Items] | |
Issue date | Mar. 29, 2018 |
Principal amount | $ 500 |
Mature date | Mar. 29, 2028 |
Effective interest rate | 4.50% |
2024 November Notes | |
Debt and Financial Instruments [Line Items] | |
Issue date | Nov. 14, 2018 |
Principal amount | $ 600 |
Mature date | May 14, 2024 |
Effective interest rate | 4.51% |
2028 November Notes | |
Debt and Financial Instruments [Line Items] | |
Issue date | Nov. 14, 2018 |
Principal amount | $ 400 |
Mature date | Nov. 14, 2028 |
Effective interest rate | 4.99% |
2024 December Notes | |
Debt and Financial Instruments [Line Items] | |
Issue date | Dec. 10, 2018 |
Principal amount | $ 250 |
Mature date | May 14, 2024 |
Effective interest rate | 4.54% |
Notes Payable - Additional Info
Notes Payable - Additional Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | |
Debt Instrument [Line Items] | ||
Debt instrument redemption price percentage | 100.00% | |
2017 Notes | ||
Debt Instrument [Line Items] | ||
Interest rate | 2.25% | 2.25% |
2022 Ten-year Notes | ||
Debt Instrument [Line Items] | ||
Interest rate | 3.50% | 3.50% |
2017 Notes and 2022 Ten-year Notes | ||
Debt Instrument [Line Items] | ||
Payment frequency of debt interest | semi-annually | |
2018 Notes | ||
Debt Instrument [Line Items] | ||
Interest rate | 3.25% | 3.25% |
Payment frequency of debt interest | semi-annually | |
2019 Notes | ||
Debt Instrument [Line Items] | ||
Interest rate | 2.75% | 2.75% |
Payment frequency of debt interest | semi-annually | |
2020 Notes | ||
Debt Instrument [Line Items] | ||
Interest rate | 3.00% | 3.00% |
2025 Notes | ||
Debt Instrument [Line Items] | ||
Interest rate | 4.13% | 4.13% |
2020 Notes and 2025 Notes | ||
Debt Instrument [Line Items] | ||
Payment frequency of debt interest | semi-annually | |
2022 Five-year Notes | ||
Debt Instrument [Line Items] | ||
Interest rate | 2.88% | 2.88% |
2027 Notes | ||
Debt Instrument [Line Items] | ||
Interest rate | 3.63% | 3.63% |
2022 Five-year Notes and 2027 Notes | ||
Debt Instrument [Line Items] | ||
Payment frequency of debt interest | semi-annually | |
2023 Notes | ||
Debt Instrument [Line Items] | ||
Interest rate | 3.88% | 3.88% |
2028 March Notes | ||
Debt Instrument [Line Items] | ||
Interest rate | 4.38% | 4.38% |
2023 Notes and 2028 March Notes | ||
Debt Instrument [Line Items] | ||
Payment frequency of debt interest | semi-annually | |
2024 November Notes | ||
Debt Instrument [Line Items] | ||
Interest rate | 4.38% | 4.38% |
2028 November Notes | ||
Debt Instrument [Line Items] | ||
Interest rate | 4.88% | 4.88% |
2024 and 2028 November Notes | ||
Debt Instrument [Line Items] | ||
Payment frequency of debt interest | semi-annually | |
2024 December Notes | ||
Debt Instrument [Line Items] | ||
Interest rate | 4.38% | 4.38% |
Payment frequency of debt interest | semi-annually | |
2024 December Notes | ||
Debt Instrument [Line Items] | ||
Discount on debt issued | $ 25 | ¥ 160 |
Debt issuance cost | $ 35 | ¥ 225 |
Principal Amount and Unamortize
Principal Amount and Unamortized Discount and Debt Issuance Costs (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Debt Disclosure [Abstract] | |||
Principal amount | $ 7,253 | ¥ 49,867 | ¥ 35,782 |
Unamortized discount and debt issuance costs | (38) | (261) | (171) |
Long-term Debt, Total | $ 7,215 | ¥ 49,606 | ¥ 35,611 |
Repayment of Principal Amount o
Repayment of Principal Amount of Long Term Debts (Detail) - Dec. 31, 2018 - Long Term Debt ¥ in Millions, $ in Millions | USD ($) | CNY (¥) |
Long Term Debt Maturities Repayments Of Principal [Line Items] | ||
2019 | $ 1,012 | ¥ 6,960 |
2020 | 844 | 5,801 |
2021 | 1,000 | 6,876 |
2022 | 1,650 | 11,345 |
2023 | 1,000 | 6,876 |
Thereafter | $ 2,850 | ¥ 19,595 |
Convertible Notes - Additional
Convertible Notes - Additional Information (Detail) ¥ in Millions, $ in Millions | Oct. 26, 2017USD ($)shares | Dec. 31, 2018USD ($)$ / A | Jan. 31, 2018USD ($) | Dec. 31, 2018CNY (¥)$ / A | Dec. 31, 2017CNY (¥) |
Debt Instrument [Line Items] | |||||
Principal amount of liability component | $ 7,253 | ¥ 49,867 | ¥ 35,782 | ||
iQIYI 2018 Convertible Notes | |||||
Debt Instrument [Line Items] | |||||
Debt face amount | $ 1,500 | ||||
Interest rate | 1.50% | ||||
Debt, maturity date | Jan. 25, 2018 | ||||
iQIYI 2018 Convertible Notes | Parent Company | |||||
Debt Instrument [Line Items] | |||||
Debt face amount | $ 300 | ||||
iQIYI 2018 Convertible Notes | External Investors | |||||
Debt Instrument [Line Items] | |||||
Debt face amount | $ 1,200 | ||||
iQIYI 2023 Convertible Notes | |||||
Debt Instrument [Line Items] | |||||
Debt face amount | $ 750 | ||||
Interest rate | 3.75% | 3.75% | |||
Debt, maturity date | Dec. 1, 2023 | ||||
Conversion rate of convertible notes, ADS per US$1,000 | 37.1830 | ||||
Effective interest rate | 7.04% | 7.04% | |||
Principal amount of liability component | $ 750 | ¥ 5,200 | |||
Unamortized debt discount | 65 | 446 | |||
Carrying amount of equity component | 53 | ¥ 362 | |||
iQIYI 2023 Convertible Notes | Call Option [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt face amount | $ 68 | ||||
Call option cap price | $ / A | 38.42 | 38.42 | |||
Preferred Stock | iQIYI 2018 Convertible Notes | |||||
Debt Instrument [Line Items] | |||||
Notes converted to preferred shares | $ 1,500 | ||||
Preferred shares converted by iQIYI 2018 Convertible Notes | shares | 1,014,436,019 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | 36 Months Ended | ||||
Dec. 31, 2018USD ($) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016 | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2013CNY (¥) | |
Income Taxes [Line Items] | ||||||
Unified statutory income tax rate under current EIT law | 25.00% | |||||
PRC statutory withholding tax rate to which dividends paid by a FIE to any of its foreign non-resident enterprise investors | 10.00% | |||||
PRC special withholding tax rate to which dividends paid by a FIE to its foreign non-resident enterprise investors in Hong Kong | 5.00% | |||||
Statutory withholding tax rate for capital gains | 10.00% | |||||
Net losses deriving from entities in the PRC, Hong Kong and Japan | $ 1,400 | $ 1,400 | ¥ 9,500 | |||
Accrued withholding tax | 90 | ¥ 586 | 90 | 619 | ¥ 581 | |
Undistributed earnings no withholding tax has accrued | $ 21,000 | $ 21,000 | ¥ 144,400 | |||
High And New Technology Enterprise | ||||||
Income Taxes [Line Items] | ||||||
A preferential enterprise income tax rate | 15.00% | |||||
Preferential enterprise income tax rate, effective period | 3 years | |||||
Net operating loss carryforward period | 10 years | |||||
Key Software Enterprise | ||||||
Income Taxes [Line Items] | ||||||
A preferential enterprise income tax rate | 10.00% | |||||
PRC | ||||||
Income Taxes [Line Items] | ||||||
Net operating loss carryforward period | 5 years | |||||
Net operating loss carryforwards begins to expire | 2019 | |||||
PRC | Maximum | ||||||
Income Taxes [Line Items] | ||||||
Time period that tax authorities could conduct examinations of entity's tax filings | 5 years | |||||
PRC | Earliest Tax Year | ||||||
Income Taxes [Line Items] | ||||||
Tax years remain open to examination by respective taxing jurisdictions | 2013 | |||||
PRC | Latest Tax Year | ||||||
Income Taxes [Line Items] | ||||||
Tax years remain open to examination by respective taxing jurisdictions | 2018 | |||||
Japan | ||||||
Income Taxes [Line Items] | ||||||
Net operating loss carryforward period | 9 years | |||||
Net operating loss carryforwards begins to expire | 2019 | |||||
Baidu HK | ||||||
Income Taxes [Line Items] | ||||||
Income tax rate | 16.50% | |||||
Baidu Japan | ||||||
Income Taxes [Line Items] | ||||||
Income tax rate | 31.00% | 32.00% | 33.00% | |||
Baidu Online | Key Software Enterprise | ||||||
Income Taxes [Line Items] | ||||||
A preferential enterprise income tax rate | 10.00% | 10.00% | ||||
Baidu China | Key Software Enterprise | ||||||
Income Taxes [Line Items] | ||||||
A preferential enterprise income tax rate | 10.00% | 10.00% | ||||
Baidu International | Key Software Enterprise | ||||||
Income Taxes [Line Items] | ||||||
A preferential enterprise income tax rate | 10.00% | 10.00% | ||||
Certain PRC Subsidiaries and VIEs | High And New Technology Enterprise | ||||||
Income Taxes [Line Items] | ||||||
A preferential enterprise income tax rate | 15.00% | |||||
Certain PRC Subsidiaries and VIEs | High And New Technology Enterprise | Expiration Period One | ||||||
Income Taxes [Line Items] | ||||||
Tax holiday, expiration year | 2019 | |||||
Certain PRC Subsidiaries and VIEs | High And New Technology Enterprise | Expiration Period Two | ||||||
Income Taxes [Line Items] | ||||||
Tax holiday, expiration year | 2020 | |||||
Certain PRC Subsidiaries and VIEs | High And New Technology Enterprise | Expiration Period Three | ||||||
Income Taxes [Line Items] | ||||||
Tax holiday, expiration year | 2021 |
Income Before Income Taxes (Det
Income Before Income Taxes (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Income Loss From Continuing Operations Before Income Taxes Minority Interest By Jurisdiction [Abstract] | ||||
PRC | $ 3,421 | ¥ 23,524 | ¥ 22,088 | ¥ 18,194 |
Non-PRC | 553 | 3,801 | (805) | (3,685) |
Income before income taxes | $ 3,974 | ¥ 27,325 | ¥ 21,283 | ¥ 14,509 |
Components of Income Tax (Detai
Components of Income Tax (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Income Tax Disclosure [Abstract] | ||||
Current income tax | $ 900 | ¥ 6,184 | ¥ 4,224 | ¥ 3,462 |
Income tax refund due to reduced tax rate | (99) | (680) | (473) | (535) |
Adjustments of deferred tax assets due to change in tax rates | 0 | 0 | 7 | (13) |
Deferred income tax benefit | (111) | (761) | (763) | (1) |
Taxation for the year | $ 690 | ¥ 4,743 | ¥ 2,995 | ¥ 2,913 |
Reconciliation of Effective Inc
Reconciliation of Effective Income Tax Provision of Tax Computed By Applying Statutory Income Tax Rate to Pre-Tax Income (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($)$ / shares | Dec. 31, 2018CNY (¥)¥ / shares | Dec. 31, 2017CNY (¥)¥ / shares | Dec. 31, 2016CNY (¥)¥ / shares | |
Income Tax Disclosure [Abstract] | ||||
Expected taxation at PRC statutory tax rate | $ 994 | ¥ 6,831 | ¥ 5,321 | ¥ 3,627 |
Effect of differing tax rates in different jurisdictions | 72 | 493 | 854 | 736 |
Non-taxable income | (226) | (1,555) | (913) | (73) |
Non-deductible expenses | 136 | 935 | 653 | 115 |
Research and development super-deduction | (152) | (1,047) | (905) | (726) |
Effect of PRC preferential tax rates and tax holiday | (327) | (2,250) | (2,095) | (1,851) |
Effect of tax rate changes on deferred taxes | 0 | 0 | 7 | (13) |
Over-accrued EIT for previous years | (90) | (616) | (579) | (520) |
PRC withholding tax | 80 | 553 | 101 | 283 |
Addition to valuation allowance | 203 | 1,399 | 551 | 1,335 |
Taxation for the year | $ 690 | ¥ 4,743 | ¥ 2,995 | ¥ 2,913 |
Effective tax rate | 17.00% | 17.00% | 14.00% | 20.00% |
Effect of preferential tax rates inside the PRC on basic earnings per Class A and Class B ordinary share | (per share) | $ 9.38 | ¥ 64.47 | ¥ 60.33 | ¥ 53.41 |
Tax Effects of Temporary Differ
Tax Effects of Temporary Differences that Gave Rise to Deferred Tax Balances (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2013CNY (¥) |
Deferred tax assets: | ||||
Provision for doubtful receivables | $ 37 | ¥ 252 | ¥ 287 | |
Accrued expenses, payroll and others | 622 | 4,284 | 2,849 | |
Fixed assets depreciation | 9 | 60 | 53 | |
Net operating loss carry-forward | 234 | 1,609 | 1,061 | |
Less: valuation allowance | (564) | (3,881) | (2,718) | |
Deferred tax assets, net | 338 | 2,324 | 1,532 | |
Deferred tax liabilities: | ||||
Long-lived assets arising from acquisitions | 52 | 360 | 133 | |
Withholding tax on PRC subsidiaries' undistributed earnings | 90 | 619 | 586 | ¥ 581 |
Tax on capital gains | 404 | 2,778 | 2,460 | |
Other | 50 | 342 | 196 | |
Deferred tax liabilities | $ 596 | ¥ 4,099 | ¥ 3,375 |
Employee Defined Combination Pl
Employee Defined Combination Plan - Additional Information (Detail) $ in Millions, ¥ in Billions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Defined Contribution Plan [Abstract] | ||||
Amounts incurred for employee defined contribution plan | $ 426 | ¥ 2.9 | ¥ 2.6 | ¥ 2.3 |
Commitment and Contingencies -
Commitment and Contingencies - Additional Information (Detail) | 12 Months Ended | ||||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | Dec. 31, 2018CNY (¥) | |
Commitments and Contingencies Disclosure [Line Items] | |||||
Investment commitments | $ 199,000,000 | ¥ 1,400,000,000 | |||
Network Infrastructure and Buildings | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Capital commitments contracted not yet reflected in financial statements | 32,000,000 | ¥ 220,000,000 | |||
Office | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Total rental expense for offices and IDC facilities | 71,000,000 | 485,000,000 | ¥ 507,000,000 | ¥ 494,000,000 | |
IDC Facilities | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Total rental expense for offices and IDC facilities | 944,000,000 | ¥ 6,500,000,000 | 5,600,000,000 | ¥ 4,700,000,000 | |
Obligations related to the entity's directors and officers | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Fair value of indemnification obligations related to the entity's directors and officers | $ 0 | ¥ 0 | ¥ 0 |
Future Minimum Payments Under N
Future Minimum Payments Under Non-Cancelable Operating Leases with Initial Terms of One-Year or More (Detail) - Dec. 31, 2018 ¥ in Millions, $ in Millions | USD ($) | CNY (¥) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ||
2019 | $ 265 | ¥ 1,820 |
2020 | 66 | 453 |
2021 | 38 | 258 |
2022 | 17 | 119 |
2023 | 14 | 95 |
Thereafter | 6 | 44 |
Operating Leases, Future Minimum Payments Due, Total | $ 406 | ¥ 2,789 |
Future Minimum Lease Payments F
Future Minimum Lease Payments For Non-Cancelable Agreements For Licensed Copyrights and Produced Content (Detail) - Dec. 31, 2018 - Licensed copyrights ¥ in Millions, $ in Millions | USD ($) | CNY (¥) |
Commitment And Contingencies [Line Items] | ||
2019 | $ 1,285 | ¥ 8,834 |
2020 | 1,015 | 6,977 |
2021 | 697 | 4,792 |
2022 | 142 | 980 |
2023 | 137 | 943 |
Thereafter | 153 | 1,050 |
Future Minimum Payments Under Non-Cancelable Licensing agreements | $ 3,429 | ¥ 23,576 |
Summary of Redeemable Noncontro
Summary of Redeemable Noncontrolling Interest (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Temporary Equity Disclosure [Abstract] | ||||
Balance as of January 1 | $ 1,603 | ¥ 11,022 | ¥ 5,492 | ¥ 3,948 |
Business combination (Note 3) | 102 | 698 | 0 | 0 |
Other comprehensive income (loss) | 0 | 0 | (335) | 325 |
Issuance of subsidiary shares | 0 | 0 | 0 | 662 |
Disposal of subsidiary shares | 0 | 0 | (2,376) | 0 |
Accretion of redeemable noncontrolling interests | 21 | 146 | (17) | 557 |
Conversion of convertible notes of iQIYI | 0 | 0 | 8,258 | 0 |
Conversion of iQIYI preferred shares recognized as redeemable noncontrolling interests to ordinary shares | (1,622) | (11,150) | 0 | 0 |
Balance as of December 31 | $ 104 | ¥ 716 | ¥ 11,022 | ¥ 5,492 |
Redeemable Noncontrolling Int_3
Redeemable Noncontrolling Interests - Additional Information (Detail) - USD ($) $ in Millions | Oct. 26, 2017 | May 31, 2016 | Oct. 31, 2015 | Nov. 30, 2014 | Dec. 31, 2018 | Oct. 31, 2018 | Dec. 31, 2017 |
Temporary Equity Disclosure [Abstract] | |||||||
Outstanding preference shares | 159,820,917 | ||||||
Preferred Stock | |||||||
Temporary Equity Disclosure [Abstract] | |||||||
Preferred stock, shares issued | 0 | 0 | |||||
Outstanding preference shares | 0 | 0 | |||||
iQIYI | |||||||
Temporary Equity Disclosure [Abstract] | |||||||
Preferred shares financing | $ 300 | ||||||
iQIYI | Convertible notes (the"iQIYI Notes") | Preferred Stock | |||||||
Temporary Equity Disclosure [Abstract] | |||||||
Notes converted to preferred shares | $ 1,200 | ||||||
Xiaodu Life Technology Ltd | |||||||
Temporary Equity Disclosure [Abstract] | |||||||
Preferred shares financing | $ 100 | $ 250 | |||||
Preferred stock, shares issued | 42,105,264 | 250,000,000 |
Shareholder's Equity - Addition
Shareholder's Equity - Additional Information (Detail) $ / shares in Units, ¥ in Millions | Jun. 27, 2018USD ($) | Oct. 29, 2015USD ($) | Jul. 30, 2015USD ($) | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2018CNY (¥)shares | Dec. 31, 2017CNY (¥)shares | Dec. 31, 2016shares | Dec. 31, 2018CNY (¥)shares | Oct. 31, 2018shares | Dec. 31, 2017$ / shares |
Stockholders Equity Note [Line Items] | ||||||||||
Common stock, shares authorized | 870,400,000 | 870,400,000 | 870,400,000 | |||||||
Par value per share (US$) | $ / shares | $ 0.00005 | |||||||||
Transfer of Class B ordinary shares to Class A Ordinary shares | 0 | 0 | 200,000 | 91,667 | ||||||
Preferred stock, shares outstanding | 159,820,917 | |||||||||
Stock repurchase program, proposed aggregate value | $ | $ 1,000,000,000 | $ 2,000,000,000 | $ 1,000,000,000 | |||||||
Stock repurchase program, period | 12 months | 24 months | 12 months | |||||||
Number of Class A ordinary shares repurchased | 207,165 | 207,165 | 145,783 | 0 | ||||||
Aggregate purchase price | $ 482,000,000 | ¥ 3,312 | ¥ 1,724 | |||||||
Allocation of after-tax profits to statutory surplus fund, percentage | 10.00% | 10.00% | ||||||||
Limit of statutory surplus fund as a percentage of registered capital, after which allocations to statutory surplus fund are no longer required | 50.00% | 50.00% | ||||||||
Amounts of restricted paid up capital and statutory reserve funds of PRC subsidiaries and net assets of VIEs | $ 3,700,000,000 | ¥ 18,600 | ¥ 25,700 | |||||||
Preferred Stock | ||||||||||
Stockholders Equity Note [Line Items] | ||||||||||
Par value per share (US$) | $ / shares | $ 0.00005 | |||||||||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | ||||||||
Preferred stock, shares issued | 0 | 0 | 0 | |||||||
Preferred stock, shares outstanding | 0 | 0 | 0 | |||||||
Class A Ordinary Shares | ||||||||||
Stockholders Equity Note [Line Items] | ||||||||||
Common stock, shares authorized | 825,000,000 | 825,000,000 | 825,000,000 | |||||||
Par value per share (US$) | $ / shares | $ 0.00005 | $ 0.00005 | ||||||||
Number of votes per share | 1 | 1 | ||||||||
Common stock, shares outstanding | 27,733,692 | 27,614,978 | 27,733,692 | |||||||
Class B Ordinary Shares | ||||||||||
Stockholders Equity Note [Line Items] | ||||||||||
Common stock, shares authorized | 35,400,000 | 35,400,000 | 35,400,000 | |||||||
Par value per share (US$) | $ / shares | $ 0.00005 | $ 0.00005 | ||||||||
Number of votes per share | 10 | 10 | ||||||||
Common stock, shares outstanding | 7,201,254 | 7,201,254 | 7,201,254 |
Shareholders' Equity (Detail)
Shareholders' Equity (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Cumulative Effect on Retained Earnings, Net of Tax [Abstract] | |||
PRC statutory reserve funds | $ 75 | ¥ 515 | ¥ 488 |
Unreserved retained earnings | 18,723 | 128,731 | 101,840 |
Total retained earnings | $ 18,798 | ¥ 129,246 | ¥ 102,328 |
Changes in Accumulated Other Co
Changes in Accumulated Other Comprehensive Income/(Loss) by Component, Net of Tax (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Balances | ¥ 119,350 | ¥ 92,251 | ¥ 80,266 | ||
Cumulative effect of accounting change* | 933 | ||||
Net current-period other comprehensive income (loss) | $ 42 | 286 | 2,378 | (650) | |
Balances | 25,459 | 175,036 | 119,350 | 92,251 | |
Foreign currency translation adjustment | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Balances | (888) | (2,026) | (1,106) | ||
Cumulative effect of accounting change* | [1] | 0 | |||
Other comprehensive income (loss) before reclassification | 114 | 732 | (593) | ||
Amounts reclassified from accumulated other comprehensive income | 80 | 71 | 0 | ||
Net current-period other comprehensive income (loss) | 194 | 803 | (593) | ||
Other comprehensive loss (income) attributable to noncontrolling interests and redeemable noncontrolling interests | (1,006) | 335 | (327) | ||
Balances | (247) | (1,700) | (888) | (2,026) | |
Unrealized gains on available- for-sale investments | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Balances | 1,818 | 243 | 300 | ||
Cumulative effect of accounting change* | [1] | (1,854) | |||
Other comprehensive income (loss) before reclassification | 4,117 | 2,574 | 515 | ||
Amounts reclassified from accumulated other comprehensive income | (2,171) | (999) | (572) | ||
Net current-period other comprehensive income (loss) | 92 | 1,575 | (57) | ||
Other comprehensive loss (income) attributable to noncontrolling interests and redeemable noncontrolling interests | 0 | 0 | 0 | ||
Balances | 278 | 1,910 | 1,818 | 243 | |
Accumulated Other Comprehensive Income | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Balances | 930 | (1,783) | (806) | ||
Cumulative effect of accounting change* | [1] | (1,854) | |||
Other comprehensive income (loss) before reclassification | 4,231 | 3,306 | (78) | ||
Amounts reclassified from accumulated other comprehensive income | (2,091) | (928) | (572) | ||
Net current-period other comprehensive income (loss) | 286 | 2,378 | (650) | ||
Other comprehensive loss (income) attributable to noncontrolling interests and redeemable noncontrolling interests | (1,006) | 335 | (327) | ||
Balances | $ 31 | ¥ 210 | ¥ 930 | ¥ (1,783) | |
[1] | Adjustment of net unrealized gains related to available-for-sale equity investments from accumulated other comprehensive income to opening retained earnings as a result of the adoption of ASC 321 on January 1, 2018. |
Tax Effect Allocated to Each Co
Tax Effect Allocated to Each Component of Other Comprehensive Income (loss) (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Other Comprehensive Income (Loss), Tax [Abstract] | ||||
Other comprehensive loss before reclassification | $ (60) | ¥ (409) | ¥ (215) | ¥ (120) |
Amounts reclassified from accumulated other comprehensive income | 48 | 328 | 163 | 110 |
Net current-period other comprehensive loss | $ (12) | ¥ (81) | ¥ (52) | ¥ (10) |
Reconciliation of Net Income to
Reconciliation of Net Income to Numerator for Computation of Basic and Diluted Per Share (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Net Income (Loss) Available to Common Stockholders, Basic [Abstract] | ||||
Net income attributable to Baidu, Inc. | $ 4,010 | ¥ 27,573 | ¥ 18,301 | ¥ 11,632 |
Accretion of the redeemable noncontrolling interests | (19) | (130) | 17 | (557) |
Numerator for EPS computation | $ 3,991 | ¥ 27,443 | ¥ 18,318 | ¥ 11,075 |
Computation of Basic and Dilute
Computation of Basic and Diluted Earnings Per Class A and Class B Ordinary Share (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2018CNY (¥)¥ / sharesshares | Dec. 31, 2017CNY (¥)¥ / sharesshares | Dec. 31, 2016CNY (¥)¥ / sharesshares | |
Numerator | ||||
Allocation of net income attributable to Baidu, Inc. | $ 3,991 | ¥ 27,443 | ¥ 18,318 | ¥ 11,075 |
Class A Ordinary Shares | ||||
Numerator | ||||
Allocation of net income attributable to Baidu, Inc. | $ 3,167 | ¥ 21,780 | ¥ 14,488 | ¥ 8,710 |
Denominator | ||||
Denominator used for basic EPS | 27,697,335 | 27,697,335 | 27,464,760 | 27,263,984 |
Earnings per share - basic | (per share) | $ 114.37 | ¥ 786.36 | ¥ 527.51 | ¥ 319.47 |
Numerator | ||||
Allocation of net income attributable to Baidu, Inc. for diluted computation | $ 3,174 | ¥ 21,824 | ¥ 14,513 | ¥ 8,716 |
Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares | 817 | 5,619 | 3,805 | 2,359 |
Numerator for diluted EPS calculation | $ 3,991 | ¥ 27,443 | ¥ 18,318 | ¥ 11,075 |
Denominator | ||||
Weighted average ordinary shares outstanding | 27,697,335 | 27,697,335 | 27,464,760 | 27,263,984 |
Conversion of Class B to Class A ordinary shares | 7,201,254 | 7,201,254 | 7,260,363 | 7,401,254 |
Share-based awards | 272,454 | 272,454 | 227,268 | 91,848 |
Denominator used for diluted EPS | 35,171,043 | 35,171,043 | 34,952,391 | 34,757,086 |
Earnings per share - diluted | (per share) | $ 113.49 | ¥ 780.27 | ¥ 524.08 | ¥ 318.62 |
Class A Ordinary Shares | American Depositary Shares | ||||
Denominator | ||||
Denominator used for basic EPS | 276,973,350 | 276,973,350 | 274,647,600 | 272,639,840 |
Earnings per share - basic | (per share) | $ 11.44 | ¥ 78.64 | ¥ 52.75 | ¥ 31.95 |
Denominator | ||||
Weighted average ordinary shares outstanding | 276,973,350 | 276,973,350 | 274,647,600 | 272,639,840 |
Denominator used for diluted EPS | 351,710,430 | 351,710,430 | 349,523,907 | 347,570,860 |
Earnings per share - diluted | (per share) | $ 11.35 | ¥ 78.03 | ¥ 52.41 | ¥ 31.86 |
Class B Ordinary Shares | ||||
Numerator | ||||
Allocation of net income attributable to Baidu, Inc. | $ 824 | ¥ 5,663 | ¥ 3,830 | ¥ 2,365 |
Denominator | ||||
Denominator used for basic EPS | 7,201,254 | 7,201,254 | 7,260,363 | 7,401,254 |
Earnings per share - basic | (per share) | $ 114.37 | ¥ 786.36 | ¥ 527.51 | ¥ 319.47 |
Numerator | ||||
Allocation of net income attributable to Baidu, Inc. for diluted computation | $ 817 | ¥ 5,619 | ¥ 3,805 | ¥ 2,359 |
Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares | 0 | 0 | 0 | 0 |
Numerator for diluted EPS calculation | $ 817 | ¥ 5,619 | ¥ 3,805 | ¥ 2,359 |
Denominator | ||||
Weighted average ordinary shares outstanding | 7,201,254 | 7,201,254 | 7,260,363 | 7,401,254 |
Conversion of Class B to Class A ordinary shares | 0 | 0 | 0 | 0 |
Share-based awards | 0 | 0 | 0 | 0 |
Denominator used for diluted EPS | 7,201,254 | 7,201,254 | 7,260,363 | 7,401,254 |
Earnings per share - diluted | (per share) | $ 113.49 | ¥ 780.27 | ¥ 524.08 | ¥ 318.62 |
Share-Based Awards Plan - Addit
Share-Based Awards Plan - Additional Information of Baidu, Inc. (Detail) $ / shares in Units, ¥ in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | |||||||
Jul. 31, 2018shares | Nov. 30, 2017shares | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2018CNY (¥)shares | Dec. 31, 2017CNY (¥) | Dec. 31, 2017$ / shares | Dec. 31, 2016CNY (¥) | Dec. 31, 2016$ / shares | Dec. 31, 2018CNY (¥)shares | |
Parent Company | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Percentage of voting power | 10.00% | 10.00% | |||||||
The weighted-average grant-date fair value of restricted shares granted during respective years | $ / shares | $ 2,232 | ||||||||
Parent Company | Stock Options | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Total intrinsic value of options exercised | $ 69 | ¥ 474 | ¥ 403 | ¥ 143 | |||||
Total fair value of options vested | 139 | ¥ 956 | 195 | 225 | |||||
Unrecognized share-based compensation cost | $ 49 | ¥ 337 | |||||||
A weighted-average vesting period over which the deferred cost is expected to be recognized | 2 years 4 months 24 days | 2 years 4 months 24 days | |||||||
The weighted-average grant-date fair value of options granted during respective years | $ / shares | $ 1,029 | $ 747 | $ 660 | ||||||
Parent Company | Restricted Stock | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Unrecognized share-based compensation cost | $ 762 | ¥ 5,200 | |||||||
A weighted-average vesting period over which the deferred cost is expected to be recognized | 2 years 8 months 12 days | 2 years 8 months 12 days | |||||||
Total fair value of shares vested during respective years, restricted shares | $ 498 | ¥ 3,400 | ¥ 2,100 | ¥ 1,100 | |||||
The weighted-average grant-date fair value of restricted shares granted during respective years | $ / shares | $ 2,232 | $ 1,978 | $ 1,756 | ||||||
Parent Company | Restricted Stock | Maximum | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Shares vesting term | 4 years | 4 years | |||||||
Parent Company | Restricted Stock | Minimum | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Shares vesting term | 2 years | 2 years | |||||||
Parent Company | Employee Holding No More Than Ten Percent Voting Power | Maximum | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Contractual term of share-based awards granted | 10 years | 10 years | |||||||
Parent Company | Employee Holding More Than Ten Percent Voting Power | Maximum | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Contractual term of share-based awards granted | 5 years | 5 years | |||||||
Parent Company | Employee Holding More Than Ten Percent Voting Power | Minimum | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Percentage of the fair market value of the entity's ordinary shares | 110.00% | 110.00% | |||||||
Parent Company | 2008 Plan | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Number of shares authorized for issuance | 3,428,777 | 3,428,777 | |||||||
Parent Company | 2008 Plan | Stock Options | Maximum | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Shares vesting term | 4 years | 4 years | |||||||
Parent Company | 2008 Plan | Stock Options | Minimum | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Shares vesting term | 2 years | 2 years | |||||||
Parent Company | Stock Incentive Plan 2018 [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Number of shares authorized for issuance | 3,443,950 | ||||||||
Shares vesting term | 10 years | ||||||||
Number of shares granted | 0 | 0 | |||||||
iQIYI | 2010 Equity Incentive Plan | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Unrecognized share-based compensation cost | $ 207 | ¥ 1,400 | |||||||
A weighted-average vesting period over which the deferred cost is expected to be recognized | 3 years | 3 years | |||||||
iQIYI | 2010 Equity Incentive Plan | Employees, directors, officers and consultants | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Number of shares authorized for issuance | 589,729,714 | 589,729,714 | |||||||
Contractual term of share-based awards granted | 10 years | 10 years | |||||||
Shares vesting term | 4 years | 4 years | |||||||
iQIYI | 2010 Equity Incentive Plan | Employees, directors, officers and consultants | First Anniversary [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Vesting rights percentage | 25.00% | 25.00% | |||||||
iQIYI | 2010 Equity Incentive Plan | Employees, directors, officers and consultants | Quarterly basis thereafter | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Vesting rights percentage | 75.00% | 75.00% | |||||||
iQIYI | 2017 Stock Incentive Plan. | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Number of shares authorized for issuance | 720,000 | ||||||||
Contractual term of share-based awards granted | 10 years |
Option Activity Baidu. Inc (Det
Option Activity Baidu. Inc (Detail) - Parent Company - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Share options | ||
Outstanding, December 31, 2017 | 315,397 | |
Granted | 85,159 | |
Exercised | (66,727) | |
Forfeited/Cancelled | (108,145) | |
Outstanding, December 31, 2018 | 225,684 | 315,397 |
Vested and expected to vest at December 31, 2018 | 191,811 | |
Exercisable at December 31, 2018 | 108,639 | |
Share options | ||
Outstanding, December 31, 2017 | $ 1,753 | |
Granted | 1,775 | |
Exercised | 1,608 | |
Forfeited/Cancelled | 1,864 | |
Outstanding, December 31, 2018 | 1,751 | $ 1,753 |
Vested and expected to vest at December 31, 2018 | 1,713 | |
Exercisable at December 31, 2018 | $ 1,542 | |
Share Option Roll Forward - Weighted-Average Remaining Contractual Life (in years) | ||
Share options Outstanding, December 31, 2017 | 7 years | 8 years |
Vested and expected to vest at December 31, 2018 | 7 years | |
Exercisable at December 31, 2018 | 6 years | |
Share options | ||
Outstanding, December 31, 2017 | $ 186 | |
Outstanding, December 31, 2018 | 40 | $ 186 |
Vested and expected to vest at December 31, 2018 | 38 | |
Exercisable at December 31, 2018 | $ 31 |
Assumptions Used to Estimate Fa
Assumptions Used to Estimate Fair Values of Share Options Granted - Baidu, Inc. (Detail) - Parent Company | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |||
Risk-free interest rate, minimum | 1.81% | 1.13% | |
Risk-free interest rate, maximum | 2.57% | 2.08% | 1.47% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Expected volatility range, minimum | 34.47% | 35.99% | 38.91% |
Expected volatility range, maximum | 35.36% | 38.41% | 40.09% |
Weighted average expected volatility | 34.81% | 38.39% | 39.37% |
Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |||
Expected life | 4 years 10 months 20 days | 4 years 11 months 26 days | 5 years 9 months |
Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |||
Expected life | 6 years 3 months | 6 years 4 days | 5 years 11 months 1 day |
Restricted Shares Activity (Det
Restricted Shares Activity (Detail) - Parent Company | 12 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Restricted Shares Roll Forward - Number of Shares | |
Unvested, December 31, 2017 | shares | 819,670 |
Granted | shares | 427,642 |
Vested | shares | (259,152) |
Forfeited/Cancelled | shares | (196,716) |
Unvested, December 31, 2018 | shares | 791,444 |
Restricted Shares Roll Forward - Weighted Average Grant Date Fair Value | |
Unvested, December 31, 2017 | $ / shares | $ 1,899 |
Granted | $ / shares | 2,232 |
Vested | $ / shares | 1,920 |
Forfeited/Cancelled | $ / shares | 1,952 |
Unvested, December 31, 2018 | $ / shares | $ 2,060 |
Share-Based Awards Plan - Optio
Share-Based Awards Plan - Option Activity (Detail) - iQIYI - 2010 Equity Incentive Plan $ / shares in Units, $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($)$ / sharesshares | |
Share options | |
Outstanding, December 31, 2017 | shares | 306,266,366 |
Granted | shares | 112,846,527 |
Forfeited | shares | (13,474,664) |
Exercised | shares | (25,059,198) |
Outstanding, December 31, 2018 | shares | 380,579,031 |
Vested and expected to vest at December 31, 2018 | shares | 382,422,243 |
Exercisable at December 31, 2018 | shares | 184,247,256 |
Share options | |
Outstanding, December 31, 2017 | $ / shares | $ 0.45 |
Granted | $ / shares | 0.51 |
Forfeited | $ / shares | 0.51 |
Exercised | $ / shares | 0.42 |
Outstanding, December 31, 2018 | $ / shares | 0.47 |
Vested and expected to vest at December 31, 2018 | $ / shares | 0.46 |
Exercisable at December 31, 2018 | $ / shares | $ 0.42 |
Share Option Roll Forward - Weighted-Average Remaining Contractual Life (in years) | |
Outstanding, December 31, 2018 | 9 years |
Vested and expected to vest at December 31, 2018 | 7 years |
Exercisable at December 31, 2018 | 6 years |
Share options | |
Outstanding, December 31, 2018 | $ | $ 630 |
Vested and expected to vest at December 31, 2018 | $ | 635 |
Exercisable at December 31, 2018 | $ | $ 314 |
Total Share-Based Compensation
Total Share-Based Compensation Cost Recognized (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | $ 681 | ¥ 4,676 | ¥ 3,244 | ¥ 1,760 |
Cost of revenues | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | 33 | 224 | 183 | 103 |
Cost of revenues | iQIYI | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | 12 | 83 | 35 | 9 |
Selling, general and administrative | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | 251 | 1,725 | 973 | 429 |
Selling, general and administrative | iQIYI | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | 54 | 369 | 131 | 30 |
Research and development | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | 397 | 2,727 | 2,088 | 1,228 |
Research and development | iQIYI | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | $ 16 | ¥ 104 | ¥ 67 | ¥ 23 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Ctrip.com International, Ltd | ||||
Related Party Transaction [Line Items] | ||||
Related party transactions | $ 113 | ¥ 774 | ¥ 750 | ¥ 631 |
Du Xiaoman | ||||
Related Party Transaction [Line Items] | ||||
Related party transactions | $ 37 | ¥ 256 |
Related Party Transactions (Det
Related Party Transactions (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
Amounts due from related parties, current: | ||||
Amounts due from related parties, current | $ 114 | ¥ 785 | ¥ 168 | |
Amounts due from related parties, non-current: | ||||
Amounts due from related parties, non-current | 625 | 4,297 | 9 | |
Amounts due to related parties, current: | ||||
Amounts due to related parties, current | 251 | 1,727 | 153 | |
Amounts due to related parties, non-current: | ||||
Amounts due to related parties, non-current | 634 | 4,360 | 0 | |
Ctrip | ||||
Amounts due from related parties, current: | ||||
Amounts due from related parties, current | [1] | 8 | 58 | 137 |
Amounts due to related parties, current: | ||||
Amounts due to related parties, current | [2] | 2 | 12 | 122 |
Du Xiaoman | ||||
Amounts due from related parties, current: | ||||
Amounts due from related parties, current | [3] | 11 | 77 | 0 |
Amounts due from related parties, non-current: | ||||
Amounts due from related parties, non-current | [3] | 565 | 3,884 | 0 |
Amounts due to related parties, current: | ||||
Amounts due to related parties, current | [4] | 136 | 934 | 0 |
Amounts due to related parties, non-current: | ||||
Amounts due to related parties, non-current | [5] | 542 | 3,729 | 0 |
Other Related Parties | ||||
Amounts due from related parties, current: | ||||
Amounts due from related parties, current | [6] | 95 | 650 | 31 |
Amounts due from related parties, non-current: | ||||
Amounts due from related parties, non-current | [7] | 60 | 413 | 9 |
Amounts due to related parties, current: | ||||
Amounts due to related parties, current | [8] | 113 | 781 | 31 |
Amounts due to related parties, non-current: | ||||
Amounts due to related parties, non-current | [9] | $ 92 | ¥ 631 | ¥ 0 |
[1] | The balances mainly represent amounts arising from services the Company provided to Ctrip. | |||
[2] | The balances mainly represent amounts arising from services provided by Ctrip. | |||
[3] | The balance represents long-term loans due from Du Xiaoman with interest rates ranging from 4.28% to 5.00%, and amounts arising from services the Company provided to Du Xiaoman. In 2018, the Company provided short-term loans in the amount of RMB12.0 billion (US$1.7 billion) to Du Xiaoman, which were fully repaid as of December 31, 2018. | |||
[4] | The balance represents amount due to Du Xiaoman services provided by Du Xiaoman to the Company in the ordinary course of business and for other unsettled payments | |||
[5] | The balance represents mainly long-term loans provided by Du Xiaoman with interest rates ranging from 3.78% to 4.28% | |||
[6] | The balances mainly represent short-term interest-bearing loans provided to investees of the Company. | |||
[7] | The balance consist of amount due from the Company's investees in the ordinary course of business and rental deposits paid in advance to the related party of one of the executive officers. | |||
[8] | The balances mainly represent an interest-bearing loan provided by an investee and amounts arising from services provided by the Company's investees. | |||
[9] | The balance represents mainly deferred revenue relating to the future services to be provided by the Company's subsidiary to an equity method investee. |
Related Party Transactions (Par
Related Party Transactions (Parenthetical) (Detail) - Du Xiaoman ¥ in Billions, $ in Billions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) |
Related Party Transaction [Line Items] | ||
Short-term interest-bearing loan receivable | $ 1.7 | ¥ 12 |
Minimum | ||
Related Party Transaction [Line Items] | ||
Long term loans, interest rate | 3.78% | 3.78% |
Minimum | Service Provided | ||
Related Party Transaction [Line Items] | ||
Long term loans, interest rate | 4.28% | 4.28% |
Maximum | ||
Related Party Transaction [Line Items] | ||
Long term loans, interest rate | 4.28% | 4.28% |
Maximum | Service Provided | ||
Related Party Transaction [Line Items] | ||
Long term loans, interest rate | 5.00% | 5.00% |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Number of operating segments | 2 |
Summary of Group's Operating Se
Summary of Group's Operating Segment Results (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Segment Reporting Information [Line Items] | ||||
Total revenues | ¥ 84,809 | ¥ 70,549 | ||
Total revenues | $ 14,876 | ¥ 102,277 | ||
Operating costs and expenses: | ||||
Cost of revenues | 7,526 | 51,744 | 43,062 | 35,278 |
Selling, general and administrative | 2,797 | 19,231 | 13,128 | 15,071 |
Research and development | 2,294 | 15,772 | 12,928 | 10,151 |
Total operating costs and expenses | 12,617 | 86,747 | 69,118 | 60,500 |
Operating profit (loss) | 2,259 | 15,530 | 15,691 | 10,049 |
Total other income (loss), net | 1,715 | 11,795 | 5,592 | 4,460 |
Income (loss) before income taxes | 3,974 | 27,325 | 21,283 | 14,509 |
Income taxes | 690 | 4,743 | 2,995 | 2,913 |
Net income (loss) | 3,284 | 22,582 | 18,288 | 11,596 |
Less: net income (loss) attributable to noncontrolling interests | (726) | (4,991) | (13) | (36) |
Net income (loss) attributable to Baidu, Inc. | 4,010 | 27,573 | 18,301 | 11,632 |
Operating Segments | Baidu Core | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 67,681 | 59,470 | ||
Total revenues | 11,384 | 78,271 | ||
Operating costs and expenses: | ||||
Cost of revenues | 3,689 | 25,370 | 25,688 | 23,806 |
Selling, general and administrative | 2,227 | 15,310 | 10,586 | 13,493 |
Research and development | 2,005 | 13,783 | 11,692 | 9,298 |
Total operating costs and expenses | 7,921 | 54,463 | 47,966 | 46,597 |
Operating profit (loss) | 3,463 | 23,808 | 19,715 | 12,873 |
Total other income (loss), net | 1,915 | 13,169 | 5,385 | 4,730 |
Income (loss) before income taxes | 5,378 | 36,977 | 25,100 | 17,603 |
Income taxes | 678 | 4,664 | 3,001 | 2,915 |
Net income (loss) | 4,700 | 32,313 | 22,099 | 14,688 |
Less: net income (loss) attributable to noncontrolling interests | (188) | (1,292) | (9) | (30) |
Net income (loss) attributable to Baidu, Inc. | 4,888 | 33,605 | 22,108 | 14,718 |
Operating Segments | iQIYI | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 17,378 | 11,237 | ||
Total revenues | 3,634 | 24,989 | ||
Operating costs and expenses: | ||||
Cost of revenues | 3,946 | 27,133 | 17,386 | 11,437 |
Selling, general and administrative | 606 | 4,168 | 2,675 | 1,766 |
Research and development | 290 | 1,994 | 1,270 | 824 |
Total operating costs and expenses | 4,842 | 33,295 | 21,331 | 14,027 |
Operating profit (loss) | (1,208) | (8,306) | (3,953) | (2,790) |
Total other income (loss), net | (98) | (676) | 208 | (271) |
Income (loss) before income taxes | (1,306) | (8,982) | (3,745) | (3,061) |
Income taxes | 12 | 79 | (8) | 13 |
Net income (loss) | (1,318) | (9,061) | (3,737) | (3,074) |
Less: net income (loss) attributable to noncontrolling interests | 7 | 49 | 0 | 0 |
Net income (loss) attributable to Baidu, Inc. | (1,325) | (9,110) | (3,737) | (3,074) |
Intersegment Eliminations & Adjustments | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | (250) | (158) | ||
Total revenues | (142) | (983) | ||
Operating costs and expenses: | ||||
Cost of revenues | (109) | (759) | (12) | 35 |
Selling, general and administrative | (36) | (247) | (133) | (188) |
Research and development | (1) | (5) | (34) | 29 |
Total operating costs and expenses | (146) | (1,011) | (179) | (124) |
Operating profit (loss) | 4 | 28 | (71) | (34) |
Total other income (loss), net | (102) | (698) | (1) | 1 |
Income (loss) before income taxes | (98) | (670) | (72) | (33) |
Income taxes | 0 | 0 | 2 | (15) |
Net income (loss) | (98) | (670) | (74) | (18) |
Less: net income (loss) attributable to noncontrolling interests | (545) | (3,748) | (4) | (6) |
Net income (loss) attributable to Baidu, Inc. | $ 447 | ¥ 3,078 | ¥ (70) | ¥ (12) |
Fair Value Disclosure and Measu
Fair Value Disclosure and Measurement on Recurring Basis (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Fair value disclosure | |||
Long-term notes payable | $ 10,001 | ¥ 68,763 | ¥ 35,943 |
Convertible senior notes | 716 | 4,923 | |
Fair value measurements on a recurring basis | |||
Other invested securities | 0 | 0 | 18,350 |
Total assets measured at fair value | 12,625 | 86,803 | 62,327 |
Total liabilities measured at fair value | 68 | 464 | |
Cash Equivalents | |||
Fair value disclosure | |||
Time deposits | 620 | 4,264 | 130 |
Money market fund | 541 | 3,723 | 2,384 |
Short-term Investments | |||
Fair value disclosure | |||
Held-to-maturity debt investments | 4,001 | 27,507 | 48,695 |
Fair value measurements on a recurring basis | |||
Available-for-sale debt investments | 11,571 | 79,558 | 40,715 |
Long-term investments | |||
Fair value measurements on a recurring basis | |||
Equity investments at fair value with readily determinable fair value | 644 | 4,428 | |
Available-for-sale equity investments | 2,773 | ||
Investments accounted for at fair value | 212 | 1,457 | 321 |
Available-for-sale debt investments | 170 | 1,167 | |
Other non-current assets | |||
Fair value measurements on a recurring basis | |||
Derivative instruments | 28 | 193 | 168 |
Accounts Payable and Accrued Liabilities | |||
Fair value measurements on a recurring basis | |||
Derivative instruments | 18 | 123 | |
Amounts Due to Related Parties, Noncurrent | |||
Fair value measurements on a recurring basis | |||
Financial liabilities | $ 50 | 341 | |
Fair Value, Inputs, Level 1 | |||
Fair value measurements on a recurring basis | |||
Total assets measured at fair value | 4,428 | 2,773 | |
Total liabilities measured at fair value | 0 | ||
Fair Value, Inputs, Level 1 | Cash Equivalents | |||
Fair value disclosure | |||
Money market fund | 3,723 | 2,384 | |
Fair Value, Inputs, Level 1 | Long-term investments | |||
Fair value measurements on a recurring basis | |||
Equity investments at fair value with readily determinable fair value | 4,428 | ||
Available-for-sale equity investments | 2,773 | ||
Fair Value, Inputs, Level 2 | |||
Fair value disclosure | |||
Long-term notes payable | 68,763 | 35,943 | |
Fair value measurements on a recurring basis | |||
Other invested securities | 18,350 | ||
Total assets measured at fair value | 79,745 | 59,233 | |
Total liabilities measured at fair value | 341 | ||
Fair Value, Inputs, Level 2 | Cash Equivalents | |||
Fair value disclosure | |||
Time deposits | 4,264 | 130 | |
Fair Value, Inputs, Level 2 | Short-term Investments | |||
Fair value disclosure | |||
Held-to-maturity debt investments | 27,507 | 48,695 | |
Fair value measurements on a recurring basis | |||
Available-for-sale debt investments | 79,558 | 40,715 | |
Fair Value, Inputs, Level 2 | Other non-current assets | |||
Fair value measurements on a recurring basis | |||
Derivative instruments | 187 | 168 | |
Fair Value, Inputs, Level 2 | Amounts Due to Related Parties, Noncurrent | |||
Fair value measurements on a recurring basis | |||
Financial liabilities | 341 | ||
Fair Value, Inputs, Level 3 | |||
Fair value disclosure | |||
Convertible senior notes | 4,923 | ||
Fair value measurements on a recurring basis | |||
Total assets measured at fair value | 2,630 | 321 | |
Total liabilities measured at fair value | 123 | ||
Fair Value, Inputs, Level 3 | Long-term investments | |||
Fair value measurements on a recurring basis | |||
Investments accounted for at fair value | 1,457 | ¥ 321 | |
Available-for-sale debt investments | 1,167 | ||
Fair Value, Inputs, Level 3 | Other non-current assets | |||
Fair value measurements on a recurring basis | |||
Derivative instruments | 6 | ||
Fair Value, Inputs, Level 3 | Accounts Payable and Accrued Liabilities | |||
Fair value measurements on a recurring basis | |||
Derivative instruments | ¥ 123 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) | |
Disclosure Reconciliation Of Changes In Fair Value [Abstract] | ||||
Long-term investments impairment charges | $ 90 | ¥ 622 | ¥ 597 | ¥ 245 |