Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2021shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Entity Registrant Name | SOHU.COM LIMITED |
Entity Central Index Key | 0001734107 |
Document Period End Date | Dec. 31, 2021 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Common Stock, Shares Outstanding | 38,220,845 |
Entity Shell Company | false |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Document Annual Report | true |
Document Transition Report | false |
Entity Interactive Data Current | Yes |
Document Accounting Standard | U.S. GAAP |
Document Shell Company Report | false |
Entity File Number | 001-38511 |
Entity Incorporation, State or Country Code | E9 |
Document Registration Statement | false |
Entity Address, Address Line One | Level 18, Sohu.com Media Plaza |
Entity Address, Address Line Two | Block 3, No. 2 Kexueyuan South Road, Haidian District |
Entity Address, City or Town | Beijing |
Entity Address, Postal Zip Code | 100190 |
Entity Address, Country | CN |
ICFR Auditor Attestation Flag | true |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | Joanna Lv |
Entity Address, Address Line One | Level 18, Sohu.com Media Plaza |
Entity Address, Address Line Two | Block 3, No. 2 Kexueyuan South Road, Haidian District |
Entity Address, City or Town | Beijing |
Entity Address, Postal Zip Code | 100190 |
Entity Address, Country | CN |
Country Region | 86 |
City Area Code | 10 |
Local Phone Number | 6272 6666 |
Contact Personnel Email Address | IR@sohu-inc.com |
American Depositary Shares [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | American Depositary Shares, each representing one ordinary share, par value US$0.001 per share |
Trading Symbol | SOHU |
Security Exchange Name | NASDAQ |
Common Stock [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Ordinary shares |
No Trading Symbol Flag | true |
Auditor Information
Auditor Information | 12 Months Ended |
Dec. 31, 2021 | |
Auditor Information [Abstract] | |
Auditor Firm ID | 1424 |
Auditor Name | PricewaterhouseCoopers Zhong Tian LLP |
Auditor Location | Beijing, the People’s Republic of China |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 998,949 | $ 217,057 |
Restricted cash | 1,969 | 330,791 |
Short-term investments | 399,345 | 100,745 |
Accounts receivable, net (including $2,096 and $2,456, respectively, due from a related party as of December 31, 2020 and 2021) | 82,550 | 87,521 |
Prepaid and other current assets (including $34,123 and $34,123, respectively, due from a related party as of December 31, 2020 and 2021) | 107,311 | 106,590 |
Assets held for sale (current) | 0 | 1,412,168 |
Total current assets | 1,590,124 | 2,254,872 |
Fixed assets, net | 329,997 | 337,674 |
Goodwill | 48,811 | 48,434 |
Long-term investments, net | 53,121 | 31,634 |
Intangible assets, net | 9,136 | 4,842 |
Long-term time deposits | 189,007 | 0 |
Restricted time deposits | 0 | 101,519 |
Prepaid non-current assets | 0 | 1,006 |
Other assets | 25,589 | 42,140 |
Total assets | 2,245,785 | 2,822,121 |
Current liabilities: | ||
Accounts payable (including accounts payable of consolidated variable interest entities ("VIEs") without recourse to the Company of $11,145 and $12,325, respectively, as of December 31, 2020 and 2021) | 87,447 | 107,611 |
Accrued liabilities (including accrued liabilities of consolidated VIEs without recourse to the Company of $46,888 and $43,695, respectively, as of December 31, 2020 and 2021) | 138,196 | 157,513 |
Receipts in advance and deferred revenue (including receipts in advance and deferred revenue of consolidated VIEs without recourse to the Company of $43,076 and $45,844, respectively, as of December 31, 2020 and 2021) | 57,041 | 52,055 |
Accrued salary and benefits (including accrued salary and benefits of consolidated VIEs without recourse to the Company of $7,698 and $8,393, respectively, as of December 31, 2020 and 2021) | 91,485 | 100,826 |
Tax payables (including tax payables of consolidated VIEs without recourse to the Company of $4,422 and $1,539, respectively, as of December 31, 2020 and 2021) | 16,714 | 28,006 |
Short-term bank loans (including short-term bank loans of consolidated VIEs without recourse to the Company of nil as of both December 31, 2020 and 2021) | 0 | 315,550 |
Other short-term liabilities (including other short-term liabilities of consolidated VIEs without recourse to the Company of $25,028 and $14,095, respectively, as of December 31, 2020 and 2021, and due to a related party of $34,123 and $34,123, respectively, as of December 31, 2020 and 2021.) | 112,568 | 106,171 |
Liabilities held for sale (current) (including liabilities held for sale (current) of consolidated VIEs without recourse to the Company of $187,712 and nil, respectively, as of December 31, 2020 and 2021) | 0 | 416,998 |
Total current liabilities | 503,451 | 1,284,730 |
Long-term other payables (including long-term other payables of consolidated VIEs without recourse to the Company of nil as of both December 31, 2020 and 2021) | 3,922 | 3,202 |
Long-term bank loans (including long-term bank loans of consolidated VIEs without recourse to the Company of nil as of both December 31, 2020 and 2021) | 0 | 92,000 |
Long-term tax liabilities (including long-term tax liabilities of consolidated VIEs without recourse to the Company of $14,134 and $14,465, respectively, as of December 31, 2020 and 2021) | 193,918 | 188,760 |
Deferred tax liabilities (including deferred tax liabilities of consolidated VIEs without recourse to the Company of $2,014 and $3,323, respectively, as of December 31, 2020 and 2021) | 249,165 | 217,593 |
Other long-term liabilities (including other long-term liabilities of consolidated VIEs without recourse to the Company of $286 and $182, respectively, as of December 31, 2020 and 2021) | 3,142 | 3,855 |
Total long-term liabilities | 450,147 | 505,410 |
Total liabilities | 953,598 | 1,790,140 |
Commitments and contingencies | ||
Sohu.com Limited shareholders' equity: | ||
Ordinary Shares: $0.001 par value per share (75,400 shares authorized; 39,306 shares and 38,221 shares, respectively, issued and outstanding as of December 31, 2020 and 2021) | 39 | 39 |
Additional paid-in capital | 965,328 | 952,733 |
Treasury Stock: $0.001 par value per share (nil and 1,129 shares, respectively, as of December 31, 2020 and 2021) | (18,776) | 0 |
Accumulated other comprehensive income | 51,145 | 29,189 |
Accumulated earnings/(deficit) | 293,133 | (634,592) |
Total Sohu.com Limited shareholders' equity | 1,290,869 | 347,369 |
Noncontrolling interest | 1,318 | 684,612 |
Total shareholders' equity | 1,292,187 | 1,031,981 |
Total liabilities and shareholders' equity | $ 2,245,785 | $ 2,822,121 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Accounts receivable due from a related party | $ 2,456,000 | $ 2,096,000 |
Prepaid and other current assets due from a related party | 34,123,000 | 34,123,000 |
Accounts payable | 87,447,000 | 107,611,000 |
Accrued liabilities | 138,196,000 | 157,513,000 |
Receipts in advance and deferred revenue | 57,041,000 | 52,055,000 |
Accrued salary and benefits | 91,485,000 | 100,826,000 |
Tax payables | 16,714,000 | 28,006,000 |
Short-term bank loans | 0 | 315,550,000 |
Other short-term liabilities | 112,568,000 | 106,171,000 |
Due to a related party | 34,123,000 | 34,123,000 |
Liabilities held for sale (current) | 0 | 416,998,000 |
Long-term accounts payable | 3,922,000 | 3,202,000 |
Long-term bank loans | 0 | 92,000,000 |
Long-term tax liabilities | 193,918,000 | 188,760,000 |
Deferred tax liabilities | 249,165,000 | 217,593,000 |
Other long-term liabilities | $ 3,142,000 | $ 3,855,000 |
Ordinary Share, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Ordinary Share, shares authorized (in shares) | 75,400,000 | 75,400,000 |
Ordinary Share, shares issued (in shares) | 38,221,000 | 39,306,000 |
Ordinary Share, shares outstanding (in shares) | 38,221,000 | 39,306,000 |
Treasury Stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Treasury stock, shares (in shares) | 1,129,000 | 0 |
Variable Interest Entity Primary Beneficiary [Member] | ||
Accounts payable | $ 12,325,000 | $ 11,145,000 |
Accrued liabilities | 43,695,000 | 46,888,000 |
Receipts in advance and deferred revenue | 45,844,000 | 43,076,000 |
Accrued salary and benefits | 8,393,000 | 7,698,000 |
Tax payables | 1,539,000 | 4,422,000 |
Short-term bank loans | 0 | 0 |
Other short-term liabilities | 14,095,000 | 25,028,000 |
Liabilities held for sale (current) | 0 | 187,712,000 |
Long-term accounts payable | 0 | 0 |
Long-term bank loans | 0 | 0 |
Long-term tax liabilities | 14,465,000 | 14,134,000 |
Deferred tax liabilities | 3,323,000 | 2,014,000 |
Other long-term liabilities | $ 182,000 | $ 286,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income /(Loss) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues: | |||
Revenues | $ 835,576 | $ 749,890 | $ 673,803 |
Cost of revenues: | |||
Cost of revenues | 204,671 | 217,437 | 243,647 |
Gross profit | 630,905 | 532,453 | 430,156 |
Operating expenses: | |||
Product development | 268,863 | 241,941 | 234,852 |
Sales and marketing | 182,690 | 159,787 | 204,665 |
General and administrative (including expenses generated from a related party of nil, $55 and $35, respectively, for 2019, 2020 and 2021) | 81,880 | 57,354 | 54,591 |
Goodwill impairment and impairment of intangible assets acquired as part of business acquisitions | 0 | 0 | 7,245 |
Total operating expenses | 533,433 | 459,082 | 501,353 |
Operating profit/(loss) | 97,472 | 73,371 | (71,197) |
Other income, net | 29,416 | 25,993 | 7,963 |
Interest income (including interest income generated from a related party of $1,015, $810 and nil, respectively, for 2019, 2020 and 2021) | 15,641 | 7,369 | 6,103 |
Interest expense (including interest expense generated from a related party of $818, $588, and nil, respectively, for 2019, 2020 and 2021) | (7,500) | (6,234) | (14,370) |
Exchange difference | (3,462) | (3,800) | 1,430 |
Income/(loss) before income tax expense | 131,567 | 96,699 | (70,071) |
Income tax expense | 62,296 | 133,226 | 28,428 |
Net income/(loss) from continuing operations | 69,271 | (36,527) | (98,499) |
Net income/(loss) from discontinued operations, net of tax | 864,902 | (91,793) | 55,108 |
Net income/(loss) | 934,173 | (128,320) | (43,391) |
Less: Net income/(loss) from continuing operations attributable to the noncontrolling interest shareholders | (3) | 18,448 | 58,223 |
Less: Net income/(loss) from discontinued operations attributable to the noncontrolling interest shareholders | 6,451 | (60,656) | 47,722 |
Net income/(loss) from continuing operations attributable to Sohu.com Limited | 69,274 | (54,975) | (156,722) |
Net income/(loss) from discontinued operations attributable to Sohu.com Limited | 858,451 | (31,137) | 7,386 |
Net income/(loss) attributable to Sohu.com Limited | 927,725 | (86,112) | (149,336) |
Net income/(loss) | 934,173 | (128,320) | (43,391) |
Foreign currency translation adjustments | 23,474 | 11,972 | (13,069) |
Other comprehensive income/(loss) | 23,474 | 11,972 | (13,069) |
Comprehensive income/(loss) | 957,647 | (116,348) | (56,460) |
Less: Comprehensive income/(loss) attributable to noncontrolling interest shareholders | 7,966 | (35,074) | 93,244 |
Comprehensive income/(loss) attributable to Sohu.com Limited | $ 949,681 | $ (81,274) | $ (149,704) |
Basic net income/(loss) per share attributable to Sohu.com Limited | |||
Continuing operations | $ 1.75 | $ (1.39) | $ (3.99) |
Discontinued operations | 21.74 | (0.79) | 0.19 |
Net income/(loss) per share | $ 23.49 | $ (2.18) | $ (3.80) |
Shares used in computing basic net income per share attributable to Sohu.com Limited | 39,501 | 39,452 | 39,249 |
Diluted net income/(loss) per share attributable to Sohu.com Limited | |||
Continuing operations | $ 1.75 | $ (1.40) | $ (4.01) |
Discontinued operations | 21.74 | (0.79) | 0.18 |
Net loss per share | $ 23.49 | $ (2.19) | $ (3.83) |
Shares used in computing diluted net income per share attributable to Sohu.com Limited | 39,501 | 39,452 | 39,249 |
Brand advertising [Member] | |||
Revenues: | |||
Revenues | $ 134,967 | $ 146,526 | $ 175,056 |
Cost of revenues: | |||
Cost of revenues | 99,522 | 105,604 | 126,406 |
Online games [Member] | |||
Revenues: | |||
Revenues | 638,225 | 536,684 | 440,902 |
Cost of revenues: | |||
Cost of revenues | 87,616 | 91,526 | 88,992 |
Others [Member] | |||
Revenues: | |||
Revenues | 62,384 | 66,680 | 57,845 |
Cost of revenues: | |||
Cost of revenues | $ 17,533 | $ 20,307 | $ 28,249 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income /(Loss) (Parenthetical) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Interest income from a related party | $ 0 | $ 810,000 | $ 1,015,000 |
Interest expense from a related party | 0 | 588,000 | 818,000 |
General and administrative from a related party | 35,000 | 55,000 | 0 |
Brand advertising [Member] | |||
Revenues from a related party | 173,000 | 227,000 | 174,000 |
Others [Member] | |||
Revenues from a related party | 4,155,000 | 3,752,000 | 3,796,000 |
Cost of revenues from a related party | $ 0 | $ 0 | $ 57,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Cash flows from operating activities: | ||||
Net income/(loss) | $ 934,173 | $ (128,320) | $ (43,391) | |
Net income/(loss) from discontinued operations, net of tax | 864,902 | (91,793) | 55,108 | |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||
Amortization of intangible assets and purchased video content in prepaid expense | 12,461 | 14,386 | 38,842 | |
Depreciation | 23,495 | 25,466 | 28,225 | |
Goodwill impairment and impairment of intangible assets acquired as part of business acquisitions | 0 | 0 | 7,245 | |
Share-based compensation expense | 8,578 | 14,480 | 2,350 | |
Impairment of long-term investment | [1] | 215 | 384 | 23,154 |
Impairment of other intangible assets and other assets | 1,758 | 4,156 | 5,903 | |
Investment loss/(gain) from equity investments | (6,345) | 465 | (2,960) | |
Allowance for credit losses | 7,970 | 4,884 | 4,725 | |
Change in fair value of financial instruments | (2,470) | 1,784 | (1,185) | |
Others | (909) | (390) | (786) | |
Changes in assets and liabilities: | ||||
Accounts receivable | 444 | 39,979 | (13,152) | |
Prepaid and other assets | (2,770) | (10,276) | 5,574 | |
Accounts payable | (904) | (3,358) | (160) | |
Receipts in advance and deferred revenue | 3,776 | (96) | (3,689) | |
Tax liabilities | (4,968) | 8,683 | (2,253) | |
Deferred tax | 26,239 | 102,626 | 11,202 | |
Accrued liabilities and other short-term liabilities | (22,231) | (3,252) | (22,803) | |
Net cash provided by/(used in) continuing operating activities | 113,610 | 163,394 | (18,267) | |
Net cash provided by/(used in) discontinued operating activities | (175,888) | (68,187) | 228,857 | |
Net cash provided by/(used in) operating activities | (62,278) | 95,207 | 210,590 | |
Cash flows from investing activities: | ||||
Purchase of fixed assets | (6,718) | (6,339) | (15,081) | |
Purchase of intangible and other assets | (35,489) | (27,441) | (50,583) | |
Purchase of long-term investments | (15,891) | (114) | (12,290) | |
Purchase of time deposits | (188,215) | 0 | 0 | |
Proceeds from financial instruments | 740,730 | 1,423,600 | 883,991 | |
Purchase of financial instruments | (1,034,337) | (1,206,777) | (1,022,049) | |
Other cash proceeds related to investing activities | 2,501 | 1,464 | 1,198 | |
Net cash provided by/(used in) continuing investing activities | (537,419) | 184,393 | (214,814) | |
Net cash provided by/(used in) discontinued investing activities | 1,054,148 | 235,374 | (228,406) | |
Net cash provided by/(used in) investing activities | 516,729 | 419,767 | (443,220) | |
Cash flows from financing activities: | ||||
Proceeds from long-term bank loans | 0 | 92,000 | 0 | |
Proceeds from short-term bank loans | 153,000 | 315,550 | 58,035 | |
Exercise of share-based awards in subsidiaries | 0 | 0 | 7 | |
Repurchase of Sohu Ordinary Shares, represented by ADSs | (17,418) | 0 | 0 | |
Repayments of loans from banks | (560,550) | (113,952) | (371,973) | |
Acquisition of noncontrolling interests in Changyou Merger | 0 | (191,803) | 0 | |
Distribution of Changyou dividend to noncontrolling interest shareholders | 0 | 0 | (165,817) | |
Net cash provided by/(used in) continuing financing activities | (424,968) | 101,795 | (479,748) | |
Net cash used in discontinued financing activities | (9,132) | (8,209) | (33,415) | |
Net cash provided by/(used in) financing activities | (434,100) | 93,586 | (513,163) | |
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted time deposits | 20,997 | 36,984 | (10,047) | |
Net increase/(decrease) in cash, cash equivalents, restricted cash, and restricted time deposits | 41,348 | 645,544 | (755,840) | |
Cash, cash equivalents, restricted cash and restricted time deposits at beginning of year | 959,570 | 314,026 | 1,069,866 | |
Cash, cash equivalents, restricted cash and restricted time deposits at end of year | 1,000,918 | 959,570 | 314,026 | |
Less: Cash, cash equivalents, restricted cash and restricted time deposits of discontinued operations, end of year | 0 | 310,203 | 147,834 | |
Cash, cash equivalents, restricted cash and restricted time deposits of continuing operations, end of year | 1,000,918 | 649,367 | 166,192 | |
Supplemental cash flow disclosures from continuing operations: | ||||
Cash paid for income taxes | (46,145) | (35,705) | (27,781) | |
Cash paid for interest expense | (7,633) | (3,778) | (12,947) | |
Barter transactions | 5,086 | 4,039 | 4,357 | |
Supplemental schedule of non-cash investing activity from continuing operations: | ||||
Changes in payables and other liabilities related to fixed assets and intangible assets additions | $ (19,391) | $ (20,964) | $ (24,568) | |
[1] | In the fourth quarter of 2019, the Sohu Group recognized impairment losses of $23.2 million for equity investments. |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - USD ($) $ in Thousands | Total | Ordinary Shares [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income [Member] | Accumulated Earnings/(Deficit) [Member] | Noncontrolling Interest [Member] | |
Beginning balance at Dec. 31, 2018 | $ 1,552,951 | $ 39 | $ 958,883 | $ 0 | $ 24,719 | $ (394,801) | $ 964,111 | |
Share-based compensation expense | 18,251 | 0 | 1,045 | 0 | 0 | 0 | 17,206 | |
Settlement/adjustment of share-based awards in subsidiary | 698 | 0 | 2,555 | 0 | 0 | 0 | (1,857) | |
Distribution of Changyou dividend to noncontrolling interest shareholders | (166,507) | 0 | 0 | 0 | 0 | 0 | (166,507) | |
Net income/(loss) attributable to Sohu.com Limited and noncontrolling interest shareholders | (43,391) | 0 | 0 | 0 | 0 | (149,336) | 105,945 | |
Repurchase of Sogou Class A Ordinary Shares from noncontrolling shareholders | (42,016) | 0 | (14,282) | 0 | 0 | 0 | (27,734) | |
Accumulated other comprehensive income (loss) | (13,069) | 0 | 0 | 0 | (368) | 0 | (12,701) | |
Ending balance at Dec. 31, 2019 | 1,306,917 | 39 | 948,201 | 0 | 24,351 | (544,137) | 878,463 | |
Share-based compensation expense | 18,115 | 0 | 1,935 | 0 | 0 | 0 | 16,180 | |
Settlement/adjustment of share-based awards in subsidiary | 1,862 | 0 | 2,476 | 0 | 0 | 0 | (614) | |
Modification of share-based awards in Changyou | (10,506) | 0 | 0 | 0 | 0 | 0 | (10,506) | |
Net income/(loss) attributable to Sohu.com Limited and noncontrolling interest shareholders | (128,320) | 0 | 0 | 0 | 0 | (86,112) | (42,208) | |
Repurchase of Sogou Class A Ordinary Shares from noncontrolling shareholders | (8,301) | 0 | (2,847) | 0 | 0 | 0 | (5,454) | |
Acquisition of a partially-held subsidiary | 642 | 0 | 31 | 0 | 0 | 0 | 611 | |
Impact of adoption of new accounting standard | [1] | (6,656) | 0 | 0 | 0 | 0 | (4,343) | (2,313) |
Acquisition of noncontrolling interests in Changyou Merger | (191,803) | 0 | 2,937 | 0 | (38,059) | 0 | (156,681) | |
Accumulated other comprehensive income (loss) | 50,031 | 0 | 0 | 0 | 42,897 | 0 | 7,134 | |
Ending balance at Dec. 31, 2020 | 1,031,981 | 39 | 952,733 | 0 | 29,189 | (634,592) | 684,612 | |
Share-based compensation expense | 4,427 | 0 | 805 | 0 | 0 | 0 | 3,622 | |
Settlement/adjustment of share-based awards in subsidiary | 0 | 0 | 7,579 | 0 | 0 | 0 | (7,579) | |
Net income/(loss) attributable to Sohu.com Limited and noncontrolling interest shareholders | 934,173 | 0 | 0 | 0 | 0 | 927,725 | 6,448 | |
Repurchase of Sohu Ordinary Shares, represented by ADSs | (18,776) | 0 | 0 | (18,776) | 0 | 0 | 0 | |
Disposal of noncontrolling interests in Tencent/Sohu Sogou Share Purchase | (687,303) | 0 | 0 | 0 | 0 | 0 | (687,303) | |
Write-down of transaction costs related to business acquisitions | 4,211 | 0 | 4,211 | 0 | 0 | 0 | 0 | |
Accumulated other comprehensive income (loss) | 23,474 | 0 | 0 | 0 | 21,956 | 0 | 1,518 | |
Ending balance at Dec. 31, 2021 | $ 1,292,187 | $ 39 | $ 965,328 | $ (18,776) | $ 51,145 | $ 293,133 | $ 1,318 | |
[1] | For details see Note 2 - Summary of Significant Accounting Policies - Accounts Receivable, Net - Allowance of credit losses. |
The Company and Nature of Opera
The Company and Nature of Operations | 12 Months Ended |
Dec. 31, 2021 | |
THE COMPANY AND NATURE OF OPERATIONS [Abstract] | |
The Company and Nature of Operations | 1. THE COMPANY AND NATURE OF OPERATIONS Nature of Operations and Organization Sohu.com Limited was incorporated in the Cayman Islands on May 30, 2003 as a direct wholly-owned subsidiary of Sohu.com Inc., which was incorporated in Delaware in August 1996 and was the ultimate parent company of the Sohu Group (as defined below) until its dissolution on May 31, 2018. On July 17, 2000, Sohu.com Inc. completed an initial public offering (“IPO”) of shares of its common stock on NASDAQ trading under the symbol “SOHU.” On May 31, 2018, pursuant to a proposal for the dissolution of Sohu.com Inc. and adoption of a plan of complete liquidation and dissolution of Sohu.com Inc. that was approved by the stockholders of Sohu.com Inc. at a special meeting of stockholders held on May 29, 2018, Sohu.com Inc. was dissolved, all outstanding shares of the common stock of Sohu.com Inc. were delisted and cancelled, and American Depositary Shares (“ADSs”) representing all outstanding ordinary shares of Sohu.com Limited (the “Ordinary Shares”) were distributed on a share-for-share top-tier, The Sohu Group is a leading Chinese online media, video, and game business group providing comprehensive online products and services on PCs and mobile devices in China. The Sohu Group consists of Sohu, which when referred to in this report, unless the context requires otherwise, consists of the businesses of Sohu.com Limited and corresponding subsidiaries and VIEs excluding the businesses and the corresponding subsidiaries and VIEs of Changyou.com Limited (“Changyou”), and Changyou. Changyou is an indirect wholly-owned subsidiary of the Company. Sohu is a leading Chinese language online media content and services provider; and Changyou is a leading online game developer and operator in China that engages primarily in the development, operation and licensing of online games for PCs and mobile devices. Most of the Sohu Group’s operations are conducted through the Group’s China-based subsidiaries and VIEs. Changyou completed its IPO on NASDAQ in April 2009, trading under the symbol “CYOU.” On April 17, 2020, Sohu acquired all outstanding shares of Changyou that it did not already beneficially own pursuant to the merger (the “Changyou Merger”) of an indirect newly-formed wholly-owned subsidiary (“Changyou Merger Co.”) with and into Changyou, with Changyou being the company surviving the Changyou Merger, and resulting in Changyou being delisted from NASDAQ and continuing as a privately-held company that is an indirect wholly-owned subsidiary of Sohu.com Limited. Because prior to the completion of Changyou Merger, Sohu.com Limited, or its predecessor Sohu.com Inc., was the controlling shareholder of Changyou, Sohu.com Limited consolidated Changyou in its consolidated financial statements, and recognized noncontrolling interests reflecting economic interests in Changyou held by Changyou’s former shareholders or beneficial owners other than Sohu.com Limited. As a result of the completion of Sohu’s acquisition of the noncontrolling interests in Changyou on April 17, 2020, Sohu.com Limited beneficially and controls Prior to the completion of the Tencent/Sohu Sogou Share Purchase (as defined below) on September 23, 2021, Sogou Inc. (“Sogou”) was an indirect controlled subsidiary of the Company. Sogou completed its IPO on the New York Stock Exchange (the “NYSE”) in November 2017 trading under the symbol “SOGO.” On September 23, 2021, Sohu completed the transactions contemplated by a Share Purchase Agreement, dated September 29, 2020 and amended on December 1, 2020 and further amended on July 19, 2021, by and among the Company, the Company’s indirect wholly-owned subsidiary Sohu.com (Search) Limited (“Sohu Search”), and TitanSupernova Limited (“Tencent Merger Sub”), an indirect wholly-owned subsidiary of Tencent Holdings Limited (“Tencent”) (as so amended, the “Tencent/Sohu Sogou Share Purchase Agreement”), in which Sohu Search sold all of the Class A ordinary shares of Sogou and Class B ordinary shares of Sogou owned by Sohu Search to Tencent Merger Sub at a purchase price of per share (the “Tencent/Sohu Sogou Share Purchase”). The Sohu Group received gross consideration of approximately billion in cash from the Tencent/Sohu Sogou Share Purchase . As Sohu.com Limited, or its predecessor Sohu.com Inc., was the controlling shareholder of Sogou before the effectiveness of the Tencent/Sohu Sogou Share Purchase, Sohu.com Limited consolidated Sogou in its consolidated financial statements as discontinued operations, and recognized noncontrolling interests reflecting economic interests in Sogou held by shareholders or beneficial owners other than Sohu.com Limited (the “Sogou noncontrolling shareholders”). Through the operation of Sohu and Changyou, the Sohu Group generates brand advertising revenues, online game revenues, and other revenues. Brand advertising and online games are the Sohu Group’s core businesses. Prior to the completion of the Tencent/Sohu Sogou Share Purchase, the Sohu Group also generated search and search-related advertising revenues through the discontinued operations of Sogou. The principal subsidiaries and VIEs through which the Group conducted its business operations as of December 31, 2021 are described below: Name of Entity Date of Incorporation/Acquisition Place of Incorporation/ Acquisition Effective Interest held through Subsidiaries: For Sohu: Sohu.com (Hong Kong) Limited Incorporated on April 19, 2000 Hong Kong 100 % Beijing Sohu New Era Information Technology Co., Ltd. (“Sohu Era”) Incorporated on July 25, 2003 People’s Republic of China 100 % Sohu.com (Search) Limited (“Sohu Search”) Incorporated on October 28, 2005 Cayman Islands 100 % Beijing Sohu New Media Information Technology Co., Ltd. (“Sohu Media”) Incorporated on June 19, 2006 People’s Republic of China 100 % Sohu.com (Game) Limited (“Sohu Game”) Incorporated on February 11, 2008 Cayman Islands 100 % Beijing Sohu New Momentum Information Technology Co., Ltd. (“Sohu New Momentum”) Incorporated on May 31, 2010 People’s Republic of China 100 % Fox Video Limited (“Sohu Video”) Incorporated on July 26, 2011 Cayman Islands 100 % Fox Information Technology (Tianjin) Limited (“Video Tianjin”) Incorporated on November 17, 2011 People’s Republic of China 100 % Sohu Focus Limited Incorporated on July 11, 2013 Cayman Islands 100 % Sohu Focus (HK) Limited (“Focus HK”) Incorporated on July 26, 2013 Hong Kong 100 % For Changyou: Changyou.com Limited (“Changyou”) Incorporated on August 6, 2007 Cayman Islands 100 % Changyou.com (HK) Limited (“Changyou HK”) Incorporated on August 13, 2007 Hong Kong 100 % Beijing AmazGame Age Internet Technology Co., Ltd. (“AmazGame”) Incorporated on September 26, 2007 People’s Republic of China 100 % Beijing Changyou Gamespace Software Technology Co., Ltd. (“Gamespace”) Incorporated on October 29, 2009 People’s Republic of China 100 % Changyou.com Korea LLC Incorporated on January 7, 2010 Korea 100 % Beijing Changyou Chuangxiang Software Technology Co., Ltd. (“Changyou Chuangxiang”) Incorporated on November 8, 2016 People’s Republic of China 100 % VIEs: For Sohu: Beijing Century High-Tech Investment Co., Ltd. (“High Century”) Incorporated on December 28, 2001 People’s Republic of China 100 % Beijing Incorporated on February 7, 2002 People’s Republic of China 100 % Beijing Sohu Internet Information Service Co., Ltd. (“Sohu Internet”) Incorporated on July 31, 2003 People’s Republic of China 100 % Beijing Sohu Donglin Advertising Co., Ltd. (“Donglin”) Incorporated on May 17, 2010 People’s Republic of China 100 % Tianjin Jinhu Culture Development Co., Ltd (“Tianjin Jinhu”) Incorporated on November 24, 2011 People’s Republic of China 100 % Beijing Focus Interactive Information Service Co., Ltd. (“Focus Interactive”) Incorporated on July 15, 2014 People’s Republic of China 100 % Guangzhou Qianjun Network Technology Co., Ltd. (“Guangzhou Qianjun”) Acquired on November 25, 2014 People’s Republic of China 100 % For Changyou: Beijing Gamease Age Digital Technology Co., Ltd. (“Gamease”) Incorporated on August 23, 2007 People’s Republic of China 100 % Shanghai ICE Information Technology Co., Ltd. (“Shanghai ICE”) Acquired on May 28, 2010 People’s Republic of China 100 % Beijing Guanyou Gamespace Digital Technology Co., Ltd. (“Guanyou Gamespace”) Incorporated on August 5, 2010 People’s Republic of China 100 % Sohu’s Business Brand Advertising Business Sohu’s main business is the brand advertising business, which offers to users, over Sohu’s matrices of Chinese language online media, various content, products and services across multiple Internet-enabled devices such as mobile phones, tablets and PCs. The majority of Sohu’s products and services are provided in China through Sohu Media Portal, Sohu Video and Focus. • Sohu Media Portal. content • Sohu Video. • Focus. Revenues generated by the brand advertising business are classified as brand advertising revenues in the Sohu Group’s consolidated statements of comprehensive income. Other Sohu Business Sohu also engages in the other business, which consists primarily of paid subscription services, interactiv e Changyou’s Business Changyou’s business lines consist of the online game business and the platform channel business, which consists primarily of online advertising and mobile game distribution services. Before ceasing its operations in August 2019, Changyou also operated a cinema advertising business, which consisted primarily of the acquisition from operators of movie theaters, and the sale to advertisers, of pre-film Online Game Business Changyou’s online game business offers PC games and mobile games to game players. All of Changyou’s games are operated under the item-based revenue model, meaning that game players can play the games for free, but may choose to pay for virtual items, which are non-physical in-game PC Games PC games are interactive online games that are accessed and played simultaneously by hundreds of thousands of game players through personal computers and require that local client-end PC client-end TLBB PC , Mobile Games Mobile games are played on mobile devices and require an Internet connection. In the second quarter of 2017, Changyou launched a mobile game, Legacy TLBB (“Legacy TLBB Mobile”), which is operated by Tencent under license from Changyou. For the year ended December 31, 2021, revenues from Legacy TLBB Mobile were $79.5 million, accounting for approximately 12% of Changyou’s online game revenues, approximately 12% of Changyou’s total revenues, and approximately 10% of the Sohu Group’s total revenues. Platform Channel Business Changyou’s platform channel business consists primarily of the operation of the 17173.com Website. Prior to RaidCall’s ceasing operations in March 2019, Changyou’s platform channel business also included RaidCall. 17173.com Website The 17173.com Website provides news, electronic forums, online videos, and other online game information services to game players, as well as distribution services. Changyou generates online advertising revenues from providing advertising services to third-party advertisers on the 17173.com Website and online game revenues from mobile game distribution services. RaidCall Prior to ceasing operations in March 2019, RaidCall provided online music and entertainment services, primarily in Taiwan. IVAS revenues that were generated by RaidCall are classified as other revenues in the Sohu Group’s consolidated statements of comprehensive income. Cinema Advertising Business (Discontinued) Prior to ceasing its operations in August 2019, Changyou also operated a cinema advertising business, which consisted primarily of the acquisition from operators of movie theaters, and the sale to advertisers, of pre-film Changyou’s Share Structure As a result of the completion of the Changyou Merger on April 17, 2020, the Company beneficially held and controlled, and continues to beneficially hold and control, 100% of the combined total of Changyou’s outstanding ordinary shares and 100% of the total voting power in Changyou. Sohu consolidates Changyou in its consolidated financial statements and, prior to the completion of the Changyou Merger on April 17, 2020, also provided for noncontrolling interests reflecting ordinary shares in Changyou held by shareholders other than the Company (“Changyou noncontrolling shareholders”). Sogou’s Business (Discontinued) Between the Company’s entry into the Tencent/Sohu Sogou Share Purchase Agreement on September 29, 2020 and the completion of the Tencent/Sohu Sogou Share Purchase on September 23, 2021, Sogou met the criteria for discontinued operations. Accordingly, the results of Sogou’s operations were excluded from Sohu’s results from continuing operations and revenues that were generated by Sogou are reflected as discontinued operations in the Sohu Group’s consolidated statements of comprehensive income. The Company ceased consolidating Sogou in the Company’s consolidated financial statements after September 23, 2021. Retrospective adjustments to the historical statements have been made in order to provide a consistent basis of comparison. Search and Search-related Business Prior to the completion of the Tencent/Sohu Sogou Share Purchase on September 23, 2021, the Group’s search and search-related business consisted primarily of search and search-related advertising services offered by Sogou. Search and search-related advertising services enabled advertisers’ promotional links to be displayed on Sogou’s search results pages and other Internet properties and third parties’ Internet properties where the links were relevant to the subject and content of searches and such properties. Sogou’s advertising services expanded distribution of advertisers’ promotional links and advertisements by leveraging traffic on third parties’ Internet properties, including Web content, software, and mobile applications. Other Sogou Business Sogou also offered IVAS, primarily with respect to the operation of Web games and mobile games developed by third parties, and offered other products and services. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | |
Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Standards The consolidated financial statements have been prepared in accordance with United States of America generally accepted accounting principles (“U.S. GAAP”) to reflect the financial position and results of operations of the Sohu Group. Use of Estimates The preparation of these financial statements requires the Sohu Group to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, costs and expenses, and related disclosures. On an on-going basis, the Group evaluates its estimates based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Identified below are the accounting policies that reflect the Group’s most significant estimates and judgments, and those that the Group believes are the most critical to fully understanding and evaluating its consolidated financial statements. Basis of Consolidation and Recognition of Noncontrolling Interest The Sohu Group’s consolidated financial statements include the accounts of the Company and its subsidiaries and consolidated VIEs. All intra-Group transactions are eliminated except for revenues and expenses arising from intra-group transactions that are considered to continue after the disposal of the discontinued operations. In the consolidated statements of comprehensive income, results from discontinued operations are reported separately from income and expenses from continuing operations and prior periods are presented on a comparative basis. Discontinued operations A component of a reporting entity or a group of components of a reporting entity that are disposed of or meet the criteria to be classified as held for sale should be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. Discontinued operations are reported when a component of an entity comprising operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity is classified as held for disposal or has been disposed of, if the component either (1) represents a strategic shift or (2) has a major impact on an entity’s financial results and operations. In the statement of financial position, the assets and liabilities of the discontinued operation are presented separately in the asset and liability sections, respectively, of the statement of financial position and prior periods are presented on a comparative basis. In the consolidated statements of comprehensive income, results from discontinued operations are reported separately from the income and expenses from continuing operations and prior periods are presented on a comparative basis. Cash flows for discontinued operations are presented separately in the consolidated statements of cash flows. In order to present the financial effects of the continuing operations and discontinued operations, revenues and expenses arising from intra-group transactions are eliminated except for those revenues and expenses that are considered to continue after the disposal of the discontinued operations. VIE Consolidation The VIEs through which the Sohu Group conducts a substantial portion of its business operations are wholly or partially owned by certain employees of the Sohu Group as nominee shareholders. For the VIEs that the Sohu Group consolidates, management made evaluations of the relationships between the Sohu Group and the VIEs and the economic benefit flow of contractual arrangements with the VIEs. In connection with such evaluation, management also took into account the fact that, as a result of such contractual arrangements, the Sohu Group controls the shareholders’ voting interests in these VIEs. As a result of such evaluation, management concluded that for accounting purposes the Sohu Group is the primary beneficiary of the VIEs that it consolidates. Noncontrolling Interest Recognition Noncontrolling interests are recognized to reflect the portion of the equity of subsidiaries and VIEs which is not attributable, directly or indirectly, to the controlling shareholders. Prior to the completion of the Changyou Merger on April 17, 2020, the noncontrolling interests in the Sohu Group’s consolidated financial statements primarily consisted of noncontrolling interests for Changyou and Sogou and, following the completion of the Changyou Merger and prior to the completion of the Tencent/Sohu Sogou Share Purchase, consisted of noncontrolling interests for Sogou. Noncontrolling Interest for Changyou Prior to the completion of the Changyou Merger on April 17, 2020, the Company consolidated Changyou in its consolidated financial statements, and also recognized noncontrolling interest reflecting the economic interest in Changyou held by Changyou noncontrolling shareholders. Changyou’s net income/(loss) attributable to the Changyou noncontrolling shareholders is recorded as noncontrolling interest in the Sohu Group’s consolidated statements of comprehensive income, based on the noncontrolling shareholders’ share of the economic interest in Changyou. Changyou’s cumulative results of operations attributable to the Changyou noncontrolling shareholders, along with changes in shareholders’ equity, adjustment for share-based compensation expense in relation to those share-based awards which are unvested and vested but not yet settled and adjustment for changes in the Company’s ownership in Changyou, are recorded as noncontrolling interest in the Sohu Group’s consolidated balance sheets. As a result of the completion of Sohu’s acquisition of the noncontrolling interests in Changyou on April 17, 2020, the Company beneficially holds and control of the total voting power in Changyou. The Company consolidates Changyou in its consolidated financial statements, and no noncontrolling interests are recognized except for noncontrolling interests reflecting economic interests in Changyou’s subsidiaries held by shareholders other than Changyou. Noncontrolling Interest for Sogou Prior to the completion of the Tencent/Sohu Sogou Share Purchase on September 23, 2021, as Sogou’s controlling shareholder, the Company consolidated Sogou in its consolidated financial statements as discontinued operations, and recognized noncontrolling interest reflecting economic interests in Sogou held by Sogou noncontrolling shareholders. Sogou’s net income/(loss) attributable to the Sogou noncontrolling interest shareholders is recorded as net income/(loss) from discontinued operations attributable to the noncontrolling interest shareholders in the Company’s consolidated statements of comprehensive income. Sogou’s cumulative results of operations attributable to the Sogou noncontrolling shareholders, based on their share of the economic interest in Sogou, along with changes in shareholders’ equity and adjustment for share-based compensation expense in relation to share-based awards that were unvested and vested but not yet settled and adjustment for changes in the Company’s ownership in Sogou, were recorded as noncontrolling interest in the Sohu Group’s consolidated balance sheets. Segment Reporting The Sohu Group’s segments are business units that offer different services and are reviewed separately by the chief operating decision maker (the “CODM”) in deciding how to allocate resources and in assessing performance. The Group’s CODM is the Company’s Chief Executive Officer. Revenue Recognition Under ASC 606, revenues are recognized when control of the promised goods or services is transferred to the Group’s customers, in an amount that reflects the consideration the Group expects to be entitled to in exchange for those goods or services. The recognition of revenues involves certain management judgments, including estimated lives of virtual items purchased by game players, the estimation of the fair value of an advertising-for-advertising licensed-out The following table presents the Group’s revenues disaggregated by products and services: Year Ended December 31, 2019 (in thousands) Sohu Changyou Total Brand advertising: Sohu Media Portal $ 94,692 0 94,692 Sohu Video 34,529 0 34,529 Focus 32,120 0 32,120 17173.com Website 0 13,715 13,715 Online games: PC games 0 267,752 267,752 Mobile games 0 172,718 172,718 Other games 0 432 432 Others 57,082 763 57,845 Total $ 218,423 455,380 673,803 Year Ended December 31, 2020 (in thousands) Sohu Changyou Total Brand advertising: Sohu Media Portal $ 86,293 0 86,293 Sohu Video 25,312 0 25,312 Focus 23,281 0 23,281 17173.com Website 0 11,640 11,640 Online games: PC games 0 353,737 353,737 Mobile games 0 182,947 182,947 Others 66,658 22 66,680 Total $ 201,544 548,346 749,890 Year Ended Sohu Changyou Total Brand advertising: Sohu Media Portal $ 75,408 0 75,408 Sohu Video 26,803 0 26,803 Focus 22,013 0 22,013 17173.com Website 0 10,743 10,743 Online games: PC games 0 469,332 469,332 Mobile games 0 168,893 168,893 Others 62,382 2 62,384 Total $ 186,606 648,970 835,576 Brand Advertising Revenues Brand advertising revenues are generated from brand advertising services. Certain customers may receive sales rebates, which are accounted for as variable consideration. The Group estimates the annual expected revenue volume from each agent with reference to its historical results. Sales rebates will reduce revenues recognized. The Group recognizes revenue for the amount of fees it receives from its advertisers, after deducting sales rebates and net of value-added tax (“VAT”). Brand Advertising Revenues Revenue Recognition of Multiple Performance Obligations The Group’s contracts with customers may include multiple performance obligations. For such arrangements, the Group allocates revenues to each performance obligation based on its relative standalone selling price. The Group generally determines the standalone selling price of each distinct performance obligation based on the prices charged to customers when sold on a standalone basis. Where a standalone selling price is not directly observable, the Group generally estimates the selling price based on the prices at which performance obligations of a similar nature and geography are charged to customers. Most of such contracts have all performance obligations completed within the same quarter. Pricing Model Through mobile devices and PCs, the Group provides advertisement placements to its advertisers on different Internet platforms and in different formats. Currently the Group has three main types of pricing models, consisting of the Fixed Price model, the Cost Per Impression (“CPM”) model and the Cost Per Click (“CPC”) model. (i) Fixed Price model Under the Fixed Price model, a contract is signed to establish a fixed price for the advertising services to be provided. Given that the advertisers benefit from displayed advertisements evenly over the period the advertisements are displayed, the Group recognizes revenue on a straight-line basis over the period of display, provided all revenue recognition criteria have been met. (ii) CPM model Under the CPM model, the unit price for each qualifying display is fixed and stated in the contract with the advertiser. A qualifying display is defined as the appearance of an advertisement, where the advertisement meets criteria specified in the contract. Given that the fees are priced consistently throughout the contract and the unit prices are fixed in accordance with the Group’s pricing practices for similar advertisers, the Group recognizes revenue based on the fixed unit prices and the number of qualifying displays upon their occurrence, provided all revenue recognition criteria have been met. (iii) CPC model Under the CPC model, there is no fixed price for advertising services stated in the contract with the advertiser and the unit price for each click is auction-based. The Group charges advertisers on a per-click Online Game Revenues Changyou’s online game revenues are generated primarily from its self-operated and licensed-out in-game Changyou is the principal of its self-operated games. Changyou hosts the games on its own servers and is responsible for the sale and marketing of the games as well as customer service. Accordingly, revenues are recorded gross of revenue sharing-payments to third-party developers and/or mobile APP stores, but net of VAT and discounts to game card distributors where applicable. Changyou obtains revenues from the sale of in-game PC Games Proceeds from Changyou’s self-operated PC games are collected from players and third-party game card distributors through sales of Changyou’s game points on its online payment platform and prepaid game cards. Changyou’s self-operated PC games are either developed in house or licensed from third-party developers. For licensed PC games, Changyou remits a pre-agreed Mobile Games Self-operated Mobile Games For self-operated mobile games, Changyou sells game points to its game players via third-party mobile APP stores. The mobile APP stores in turn pay Changyou proceeds after deducting their share of pre-agreed Changyou’s self-operated mobile games are either developed in house or licensed from or jointly developed with third-party developers. For licensed and jointly-developed mobile games, Changyou remits a pre-agreed Licensed Out Mobile Games Changyou also authorizes third parties to operate its mobile games. Licensed out games include mobile games developed in house, such as Changyou’s mobile game Legacy TLBB Mobile, and mobile games jointly developed with third-party developers. Changyou receives monthly revenue-based royalty payments from the third-party licensee operators. Changyou receives additional up-front Other Revenues Sohu Other revenues attributable to Sohu consist primarily of revenues from paid subscription services, interactive broadcasting services, and revenue sharing from other platforms. Changyou Other revenues attributable to Changyou are primarily from IVAS. Revenues generated from Changyou’s IVAS were derived primarily from software applications for PCs and mobile devices offered by RaidCall, which ceased operations in March 2019. Revenues from IVAS are recognized during the period the services are rendered or items are consumed under the gross method, as Changyou is the principal obligor for provision of the services. As of August 12, 2019, the Sohu Group ceased consolidating Changyou’s cinema advertising business in its consolidated financial statements and, accordingly, the financial results of the cinema advertising business are excluded from the Sohu Group’s results from continuing operations and are presented in separate line items as discontinued operations in the consolidated financial statements, and retrospective adjustments to the Sohu Group’s historical audited consolidated financial statements have been made in order to provide a consistent basis of comparison. Contract Balances Timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable represent amounts invoiced and revenue recognized prior to invoicing, when the Group has satisfied its performance obligations and has the unconditional right to payment. The allowance for credit losses is estimated based upon the Group’s assessment of various factors, including past collection experience and consideration of current and future economic conditions and other factors that may affect the Group’s customers’ ability to pay. Contract assets as of December 31, 2021 were not material. The allowance for credit losses was Receipts in advance and deferred revenue relate to unsatisfied performance obligations at the end of the period and primarily consist of fees received from game players in the online game business and from advertisers in the brand advertising business. Due to the generally short-term duration of the contracts, the majority of the performance obligations are satisfied in the following reporting period. The amount of revenue recognized that was included in the receipts in advance and deferred revenue balance at the beginning of the period was $46.4 million for the year ended December 31, 2021. There was no significant change in the contract assets and contract liability balances during 2021. Revenue recognized in 2021 from performance obligations related to prior years was not material. Practical Expedients The Group has used the following practical expedients as allowed under ASC 606: (i) The transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied has not been disclosed, as substantially all of the Group’s contracts have a duration of one year or less. (ii) Payment terms and conditions vary by contract type, although terms generally include a requirement of prepayment or payment within one year or less. In instances where the timing of revenue recognition differs from the timing of invoicing, the Group has determined that its contracts generally do not include a significant financing component. (iii) The Group applied the portfolio approach in determining the commencement date of consumption and the estimated lives of virtual items for the recognition of games revenue, given that the effect of applying a portfolio approach to a group game players’ behaviors would not differ materially from considering each one of them individually. (iv) The Group generally expenses sales commissions when incurred because the amortization period would be one year or less. These costs are recorded within sales and marketing expenses. Cost of Revenues Cost of Brand Advertising Revenues Cost of brand advertising revenues mainly consists of salary and benefits expenses, content and license costs, and expenses incurred for related events. For self-developed video content, production costs incurred in excess of the amount of revenue contracted for are expensed as incurred. Cost of Online Game Revenues Cost of online game revenues mainly consists of revenue-sharing payments, bandwidth service costs, salary and benefits expenses, content and license costs, tax surcharges, depreciation and amortization expenses, and other direct costs. Cost of Other Revenues Cost of other revenues mainly consists of revenue-sharing payments related to interactive broadcasting services, revenue-sharing payments related to paid subscription services, and content and license costs related to paid subscription services. Product Development Expenses Product development expenses mainly consist of salary and benefits expenses, content and license costs, professional fees, depreciation and amortization expenses, facilities expenses, travel and entertainment expenses, and share-based compensation expense. These expenses are incurred for the enhancement and maintenance of the Sohu Group’s Internet platforms as well as for its products and services. The development costs of online games are expensed as incurred, including the development costs of online games prior to the establishment of technological feasibility and maintenance costs after the online games are available for marketing. Sales and Marketing Expenses Sales and marketing expenses mainly consist of advertising and promotional expenses, salary and benefits expenses, travel and entertainment expenses, and facilities expenses. Advertising and promotional expenses generally represent the expenses of promotions to create or stimulate a positive image of the Sohu Group or a desire to subscribe for the Group’s products and services. Advertising and promotional expenses are expensed as incurred. General and Administrative Expenses General and administrative expenses mainly consist of salary and benefits expenses, bad debts, professional fees, share-based compensation expense, travel and entertainment expenses, and facilities expenses. Share-based Compensation Expense Sohu (excluding Sohu Video), Changyou, and Sohu Video have incentive plans for the granting of share-based awards, including share options and restricted share units, to members of the boards of directors, management and other key employees. For share-based awards for which a grant date has occurred, share-based compensation expense is recognized as costs and expenses in the consolidated statements of comprehensive income based on the fair value of the related share-based awards on their grant dates. For share-based awards for which the service inception date precedes the grant date, share-based compensation expense is recognized as costs and expenses in the consolidated statements of comprehensive income beginning on the service inception date and is re-measured After the completion of the Changyou Merger, the board of directors of the C per-share No subsequent fair value re-measurement Sohu (excluding Sohu Video) and Changyou Share-based Awards Sohu (excluding Sohu Video) Share-based Awards In determining the fair value of share options granted by Sohu (excluding Sohu Video) as share-based awards, the public market price of the underlying shares at each reporting date was used, and a binomial valuation model was applied. In determining the fair value of restricted share units granted, the public market price of the underlying shares on the grant dates was applied. Upon the dissolution of Sohu.com Inc. on May 31, 2018, Sohu.com Limited assumed all then existing obligations of Sohu.com Inc. with respect to equity incentive awards that had been granted under Sohu.com Inc.’s Amended and Restated 2010 Stock Incentive Plan (the “Sohu 2010 Stock Incentive Plan”) and remained outstanding, and such awards were converted into the right to receive upon exercise or settlement Sohu.com Limited’s ordinary shares under the Sohu.com Limited 2018 Share Incentive Plan (the “Sohu 2018 Share Incentive Plan”) rather than shares of the common stock of Sohu.com Inc., subject to the other terms of such outstanding awards. Options for the purchase of Sohu.com Limited’s ordinary shares, including options converted from those contractually granted under the Sohu 2010 Stock Incentive Plan, are subject to vesting in four equal installments over a period of four years, with each installment vesting upon satisfaction of a service period requirement and certain subjective performance targets. Under ASC 718-10-25, 718-10-55, re-measured Changyou Share-based Awards Options for the purchase of Changyou Class A ordinary shares contractually granted under the Changyou 2014 Share Incentive Plan and the Changyou 2019 Share Incentive Plan are subject to vesting in four equal installments over a period of four years, with each installment vesting upon satisfaction of a service period requirement and certain subjective performance targets. Under ASC 718-10-25, 718-10-55, re-measured After the Changyou Plans’ Modification, a portion of the share options previously granted under the Changyou 2014 Share Incentive Plan that became vested after the completion of the Changyou Merger were settled by Changyou at a fixed price of $ 5.39 5.40 per-share 0.01 5.39 5.39 re-measurement 5.39 As of December 31, 2021, 5,443,000 of these Changyou share options had been granted and had become vested on their respective vesting dates, as a mutual understanding of the subjective performance targets had been reached between Changyou and the recipients, the targets had been satisfied, and the service period requirements had been fulfilled. Cumulative share-based compensation expense of $23.5 million was accrued based on the fixed price of $5.39 per Changyou Class A ordinary share. Compensation Expense Recognition For options and restricted share units granted with respect to Sohu (excluding Sohu Video) shares and Changyou shares, compensation expense is recognized on an accelerated basis upon the requisite service period and certain subjective performance targets being met. The number of share-based awards for which the service is not expected to be rendered over the requisite period is estimated, and no compensation expense is recorded for the number of awards so estimated. Sohu Video Share-based Awards On January 4, 2012, Sohu Video, the holding entity of Sohu’s video division, adopted a 2011 Share Incentive Plan (the “Sohu Video Share Incentive Plan”), which provided for the issuance of up to ordinary shares of Sohu Video (representing approximately of the outstanding Sohu Video shares on a fully-diluted basis) to management and key employees of the video division and to Sohu management. The maximum term of any - based As of December 31, 2021, grants of options for the purchase of 16,368,200 ordinary shares of Sohu Video had been contractually made and were subject to vesting in four equal installments, with each installment vesting upon a service period requirement being met, as well as Sohu Video’s achievement of performance targets for the corresponding period. As of December 31, 2021, options for the purchase o f Sohu Video ordinary shares were vested. For purposes of ASC 718-10-25, 718-10-55, recognized compensation expense for those vested Sohu Video share-based awards and re-measured Taxation PRC Corporate Income Tax Income taxes are accounted for using an asset and liability approach which requires the recognition of income taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in the Group’s financial statements or tax returns. Deferred income taxes are determined based on the differences between the accounting basis and the tax basis of assets and liabilities and are measured using the currently enacted tax rates and laws. Deferred tax assets are reduced by a valuation allowance, if based on available evidence, it is considered that it is more likely than not that some portion of or all of the deferred tax assets will not be realized. In making such determination, the Group considers factors including future reversals of existing taxable temporary differences, future profitability, and tax planning strategies. If events were to occur in the future that would allow the Group to realize more of its deferred tax assets than the presently recorded net amount, an adjustment would be made to the deferred tax assets that would increase income for the period when those events occurred. If events were to occur in the future that would require the Group to realize less of its deferred tax assets than the presently recorded net amount, an adjustment would be made to the valuation allowance against deferred tax assets that would decrease income for the period when those events occurred. Significant management judgment is required in determining income tax expense and deferred tax assets and liabilities. The Group’s deferred tax assets are related to net operating losses and temporary book versus tax basis differences for its China-based Subsidiaries and VIEs, which are subject to corporate income tax in the PRC under the PRC Corporate Income Tax Law (the “CIT Law”). PRC Withholding Tax on Dividends The CIT Law imposes a 10% withholding income tax on dividends distributed by foreign invested enterprises in the PRC to their immediate holding companies outside Mainland China. A lower withholding tax rate may be applied if there is a tax treaty between Mainland China and the jurisdiction of the foreign holding company. A holding company in Hong Kong, for example, will be subject to a 5% withholding tax rate under an arrangement between the PRC and the Hong Kong Special Administrative Region on the “Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income,” if such holding company is considered a non-PRC PRC Value Added Tax On May 1, 2016, the transition from the imposition of PRC business tax to the imposition of VAT was expanded to all industries in China, and all of the Sohu Group’s revenues have been subject to VAT since that date. To record VAT payable, the Group adopted the net presentation method, which presents the difference between the output VAT ( at Taxation on distributions from VIEs to the Subsidiaries Pursuant to the contractual agreements with the VIEs and their respective shareholders, the Sohu Group’s PRC subsidiaries charge the VIEs service fees. For income tax purposes, the Sohu Group’s PRC subsidiaries and the VIEs file income tax returns on a separate basis. The service fees paid by the VIEs are deductible by the VIEs for PRC income tax purposes and are recognized as income by the Sohu Group’s PRC subsidiaries. The effect on the Sohu Group is tax neutral when the VIEs and the PRC subsidiaries have the same income tax rate. U.S. Corporate Income Tax Sohu.com Inc., which was formerly the top-tier one-time Certain activities conducted in the PRC resulted in U.S. corporate income taxes being imposed on Sohu.com Inc. when its subsidiaries that were controlled foreign corporations (“CFCs”) generated income that was subject to Subpart F of the U.S. Internal Revenue Code (“Subpart F”). Generally, passive income, such as rents, royalties, interest, dividends, and gains from disposal of the company’s investments, was among the types of income that were subject to taxation under Subpart F. Any income taxable under Subpart F was taxable in the U.S. at the applicable federal corporate income tax rate. Subpart F income also included certain income from intra-Group transactions between Sohu.com Inc.’s non-U.S. non-U.S. non-U.S. non-U.S. To the extent that portions of Sohu.com Inc.’s U.S. taxable income, such as Subpart F income or global intangible low-taxed Treatment of Toll Charge Related to the U.S. TCJA Beginning in the fourth quarter of 2017, the Sohu Group had recognized a provisional amount of income tax expense for the Toll Charge of $219 million, which represented management’s estimate of the amount of the Toll Charge that would have been payable by Sohu.com Inc. based on the deemed repatriation to the United States of its share of previously deferred earnings of certain of its non-U.S. For the fourth quarter of 2018, the Sohu Group’s management re-evaluated The tax benefit recognized and the unrecognized tax benefit in relation to the Toll Charge may be subject to further adjustment in subsequent periods based on facts and circumstances that arose after December 31, 2021, such as any IRS assessments upon audit and management’s further judgment and estimates. Uncertain Tax Positions The Sohu Group is subject to various taxes in different jurisdictions, but primarily the PRC. Management reviews regularly the adequacy of the provisions for taxes as they relate to the Group’s income and transactions. In order to assess uncertain tax positions, the Group applies a more likely than not threshold and a two-step two-step Net Income/(Loss) per Share Basic net income/(loss) per share is computed using the weighted average number of ordinary shares outstanding during the period. Diluted net income/(loss) per share is computed using the weighted average number of ordinary shares and, if dilutive, potential ordinary shares outstanding during the period. Potential ordinary shares comprise shares issuable upon the exercise or settlement of share-based awards using the treasury stock method. The dilutive effect of share-based awards with performance requirements is not considered before the performance targets are actually met. The computation of diluted net income/(loss) per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect (i.e. an increase in earnings per share amounts or a decrease in loss per share amounts) on net income/(loss) per share. Additionally, for purposes of calculating the numerator of diluted net income/(loss) per share, the net income/(loss) attributable to the Sohu Group is calculated as discussed below. The adjustment will not be made if there is an anti-dilutive effect. Changyou’s net income/(loss) attributable to Sohu Prior to the completion of the Changyou Merger on April 17, 2020, Changyou’s net income/(loss) attributable to Sohu was determined using the percentage that the weighted average number of Changyou shares held by Sohu represented of the weighted average number of Changyou ordinary shares and shares issuable upon the exercise or settlement of share-based awards under the treasury stock method, and not by using the percentage held by S |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Dec. 31, 2021 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations Disclosure | 3 . DISCONTINUED OPERATIONS Discontinued Operation of Sogou Between Sohu’s entry into the Tencent/Sohu Sogou Share Purchase Agreement on September 29, 2020 and the completion of the Tencent/Sohu Sogou Share Purchase on September 23, 2021, Sogou met the criteria for discontinued operations. Accordingly, the results of operations for Sogou’s business prior to the completion of the Tencent/Sohu Sogou Share Purchase are excluded from Sohu’s results from continuing operations in the Sogou Group’s consolidated statements of comprehensive income and are presented in separate line items as discontinued operations. Retrospective adjustments to the historical statements have been made in order to provide a consistent basis of comparison. Additionally, as of December 31, 2020, the related assets and liabilities associated with the discontinued operations with respect to Sogou were classified as assets held for sale and liabilities held for sale associated with discontinued operations in the consolidated balance sheets to provide comparable financial information. Long-lived assets have not been depreciated or amortized after they were classified as held for sale. As a result, for the year ended December 31, 2020 and the period ended September 23, 2021, depreciation and amortization expenses of $17.0 million and $46.7 million were not recognized for long-lived assets accordingly. On September 23, 2021, the Tencent/Sohu Sogou Share Purchase and the Sogou Merger were completed, and Sohu recognized gain of approximately million, net of transaction and other costs, which is included in income from discontinued operations. After September 23, 2021, Sohu no longer had any ownership interest in Sogou. The following tables set forth the assets, liabilities, results of operations and cash flows of discontinued operations with respect to Sogou, that were included in the Sohu Group’s consolidated financial statements (in thousands): As of December 31, ASSETS Cash and cash equivalents $ 287,185 Restricted cash 23,018 Short-term investments 774,618 Account and financing receivables, net 73,656 Prepaid and other current assets 28,946 Long-term investments, net 74,004 Fixed assets, net 89,089 Goodwill 6,527 Intangible assets, net 1,446 Other assets 53,679 Total assets associated with discontinued operations $ 1,412,168 LIABILITIES Accounts payable $ 122,695 Accrued liabilities 68,582 Receipts in advance 64,414 Accrued salary and benefits 25,350 Taxes payable 64,082 Other short-term liabilities 61,154 Long-term liabilities 10,721 Total liabilities associated with discontinued operations $ 416,998 Year Ended December 31, 2019 2020 2021 (1) Revenues $ 1,172,252 $ 924,664 $ 407,607 Cost of revenues 738,454 722,614 274,408 Gross profit 433,798 202,050 133,199 Operating expenses: Research and development (2) 190,402 193,376 141,506 Sales and marketing (2) 138,291 102,523 53,481 General and administrative (2) 40,670 29,271 11,854 Total operating expenses 369,363 325,170 206,841 Operating profit/(loss) 64,435 (123,120 ) (73,642 ) Interest income 4,443 2,807 2,377 Interest expense 0 0 (761 ) Foreign currency exchange gain/(loss) 1,849 (7,767 ) (848 ) Other income, net 21,127 38,633 81,655 Income/(loss) from discontinued operations before income tax expense 91,854 (89,447 ) 8,781 Income tax expense/(benefit) 2,748 2,346 (1,112 ) Results of operations from discontinued operations, net of tax 89,106 (91,793 ) 9,893 Gain on disposal of discontinued operations 0 0 855,009 Net income/(loss) from discontinued operations, net of tax 89,106 (91,793 ) 864,902 Effective Tax Rate Year Ended December 31, 2019 2020 2021 (1)(3) Statutory Rate: 25 % 25 % 25 % Effect of tax holidays applicable to subsidiaries and consolidated VIEs (2 %) (18 %) 127 % Tax differential from statutory rate applicable to subsidiaries and consolidated VIEs 3 % (3 %) (90 %) Changes in valuation allowance for deferred tax assets 7 % (43 %) 349 % Research and development super-deduction and other permanent book-tax differences (25 %) 35 % (249 %) Capital gains from equity investments (5 %) 1 % (175 %) 3 % (3 %) (13 %) Year Ended December 31, 2019 2020 2021 (1) Net cash provided by/(used in) discontinued operating activities $ 219,516 $ (68,187 ) $ (175,888 ) Net cash provided by/(used in) discontinued investing activities (217,598 ) 235,374 1,054,148 Net cash used in discontinued financing activities (33,415 ) (8,209 ) (9,132 ) Note (1): Includes the financial results of the discontinued operations from January 1, 2021 to September 23, 2021. Note (2): Expenses generated from marketing services between the Sohu Group and Sogou Group, and leasing expenses generated from a building that Sohu leases to Sogou are not eliminated because those expenses are considered to continue after the disposal of the discontinued operations. Note (3): The changes in the effective tax rate for the period ended September 23, 2021 resulted from the lower income from discontinued operations before income tax expense. Discontinued Operation of Shanghai Jingmao In May 2010, Changyou acquired 50% of the equity interests in Shanghai Jingmao Culture Communication Co., Ltd. (“Shanghai Jingmao”) and an affiliate of Shanghai Jingmao, which were primarily engaged in the cinema advertising business. In January 2011, Changyou acquired the remaining 50% of the equity interests in Shanghai Jingmao and its affiliate for total consideration of approximately $3.0 million. In the fourth quarter of 2011, a full impairment loss of $5.2 million on goodwill was recognized for the cinema advertising business. In business. Changyou ceased operating the cinema advertising business and wound down the business in as a result of a Chinese court in Shanghai having granted a petition by Shanghai Jingmao for bankruptcy relief on August , . Accordingly, the results of operations for Changyou’s cinema advertising business have been excluded from Changyou’s results from continuing operations in the consolidated statements of comprehensive income and are presented in separate line items as discontinued operations. Retrospective adjustments to the historical statements have been made in order to provide a consistent basis of comparison. Changyou recognized disposal gain/loss for the years ended December , and . However, Changyou may recognize disposal gain/loss in the future, depending on developments in the bankruptcy proceedings in the Chinese court . The following tables set forth the results of operations and cash flows of discontinued operations with respect to Changyou’s cinema advertising business, that were included in the Group’s consolidated financial statements (in thousands): Year Ended 2019 (1) Revenues $ 37,323 Cost of revenues 43,857 Gross loss (6,534 ) Operating expenses: Sales and marketing 8,807 General and administrative 18,583 Total operating expenses 27,390 Operating loss (33,924 ) Interest income 7 Other income/(expense), net 61 Loss from discontinued operations before income tax expense (33,856 ) Income tax expense 142 Net loss from discontinued operations, net of tax (33,998 ) Year Ended 2019 (1) Net cash provided by discontinued operating activities $ 9,341 Net cash used in discontinued investing activities (10,808 ) Net cash provided by discontinued financing activities 0 Note (1): Includes the financial results of the discontinued operations from January 1, 2019 to August 12, 2019. |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2021 | |
SEGMENT INFORMATION [Abstract] | |
Segment Information | 4. SEGMENT INFORMATION The Sohu Group’s segments are business units that offer different services and are reviewed separately by the CODM in deciding how to allocate resources and in assessing performance. The Group’s CODM is the Company’s Chief Executive Officer. There are two segments in the Sohu Group, consisting of Sohu and Changyou. Before Sohu’s entry into the Tencent/Sohu Sogou Share Purchase Agreement on September 29, 2020, there were three segments in the Sohu Group, consisting of Sohu, Changyou, and Sogou. Between September 29, 2020 and the completion of the Tencent/Sohu Sogou Share Purchase on September 23, 2021, Sogou met the criteria to be classified as discontinued operations. Accordingly, Sogou’s historical financial results are reflected in Sohu’s consolidated financial statements as discontinued operations. The Sohu Group segments consisted of Sohu and Changyou thereafter. As most of the Sohu Group’s long-lived assets are located in, and substantially all of the revenues of the Sohu Group’s reportable segments are derived from China, where the Sohu Group’s services and products are provided to customers, no geographical information is presented. The following tables present summary information by segment (in thousands): Year Ended December 31, 2019 Sohu Changyou Eliminations Consolidated Revenues $ 218,442 $ 455,380 $ (19 ) $ 673,803 Segment cost of revenues (1) (148,258 ) (95,268 ) 21 (243,505 ) Segment gross profit 70,184 360,112 2 430,298 SBC in cost of revenues (2) (23 ) (120 ) 1 (142 ) Gross profit 70,161 359,992 3 430,156 Operating expenses: Product development (1) (113,761 ) (119,726 ) 0 (233,487 ) Sales and marketing (1) (155,226 ) (49,768 ) 2 (204,992 ) General and administrative (1) (31,330 ) (22,074 ) (17 ) (53,421 ) Goodwill impairment and impairment of intangible assets acquired as part of business acquisitions (7,245 ) 0 0 (7,245 ) SBC in operating expenses (2) (1,023 ) (1,185 ) 0 (2,208 ) Total operating expenses (308,585 ) (192,753 ) (15 ) (501,353 ) Operating profit/(loss) (238,424 ) 167,239 (12 ) (71,197 ) Other income 7,963 Interest income 6,103 Interest expense (14,370 ) Exchange difference 1,430 Loss before income tax expense (70,071 ) Income tax benefit (28,428 ) Net loss from continuing operations (98,499 ) Net income from discontinued operations 55,108 Net loss $ (43,391 ) Note (1): Total depreciation and amortization expenses of Sohu and Changyou were $50.7 million and $16.4 million, respectively, for the year ended December 31, 2019. Note (2): “SBC” stands for share-based compensation expense. Year Ended December 31, 2020 Sohu Changyou Eliminations Consolidated Revenues $ 201,544 $ 548,346 $ 0 $ 749,890 Segment cost of revenues (1) (122,362 ) (94,362 ) 7 (216,717 ) Segment gross profit 79,182 453,984 7 533,173 SBC in cost of revenues (2) (177 ) (543 ) 0 (720 ) Gross profit 79,005 453,441 7 532,453 Operating expenses: Product development (1) (97,681 ) (136,934 ) 0 (234,615 ) Sales and marketing (1) (106,057 ) (53,272 ) 0 (159,329 ) General and administrative (1) (25,861 ) (25,517 ) 0 (51,378 ) SBC in operating expenses (2) (1,759 ) (12,001 ) 0 (13,760 ) Total operating expenses (231,358 ) (227,724 ) 0 (459,082 ) Operating profit/(loss) (152,353 ) 225,717 7 73,371 Other income 25,993 Interest income 7,369 Interest expense (6,234 ) Exchange difference (3,800 ) Loss before income tax expense 96,699 Income tax expense (133,226 ) Net loss from continuing operations (36,527 ) Net income from discontinued operations (91,793 ) Net loss $ (128,320 ) Note (1): Total depreciation and amortization expenses of Sohu and Changyou were $26.4 million and $13.5 million, respectively, for the year ended December 31, 2020. Note (2): “SBC” stands for share-based compensation expense. Year Ended December 31, 2021 Sohu Changyou Eliminations Consolidated Revenues $ 186,606 $ 648,970 $ 0 $ 835,576 Segment cost of revenues (1) (113,881 ) (90,517 ) 4 (204,394 ) Segment gross profit 72,725 558,453 4 631,182 SBC in cost of revenues (2) (1 ) (276 ) 0 (277 ) Gross profit 72,724 558,177 4 630,905 Operating expenses: Product development (1) (113,186 ) (151,773 ) 0 (264,959 ) Sales and marketing (1) (126,126 ) (56,396 ) 0 (182,522 ) General and administrative (1) (36,949 ) (40,702 ) 0 (77,651 ) SBC in operating expenses (2) (804 ) (7,497 ) 0 (8,301 ) Total operating expenses (277,065 ) (256,368 ) 0 (533,433 ) Operating profit/(loss) (204,341 ) 301,809 4 97,472 Other income 29,416 Interest income 15,641 Interest expense (7,500 ) Exchange difference (3,462 ) Income before income tax expense 131,567 Income tax expense (62,296 ) Net loss from continuing operations 69,271 Net loss from discontinued operations 864,902 Net loss $ 934,173 Note (1): Total depreciation and amortization expenses of Sohu and Changyou were $23.4 million and $12.6 million, respectively, for the year ended December 31, 2021. Note (2): “SBC” stands for share-based compensation expense. As of December 31, 2020 Sohu Changyou Eliminations Consolidated Cash and cash equivalents $ 56,977 $ 160,080 $ 0 $ 217,057 Accounts receivable, net 60,886 26,635 0 87,521 Fixed assets, net 174,700 162,976 (2 ) 337,674 Total assets (1) $ 1,632,736 $ 2,478,705 $ (2,701,488 ) $ 1,409,953 Note (1): The elimination for segment assets mainly consists of elimination of intra-Group loans between Sohu and Changyou, and elimination of long-term investments in subsidiaries and consolidated VIEs. As of December 31, 202 1 Sohu Changyou Eliminations Consolidated Cash and cash equivalents $ 929,851 $ 69,098 $ 0 $ 998,949 Accounts receivable, net 48,108 34,442 0 82,550 Fixed assets, net 170,213 159,784 0 329,997 Total assets (1) $ 2,294,537 $ 2,610,964 $ (2,659,716 ) $ 2,245,785 Note (1): The elimination for segment assets mainly consists of elimination of intra-Group loans between Sohu and Changyou, and elimination of long-term investments in subsidiaries and consolidated VIEs. |
Share-based Compensation Expens
Share-based Compensation Expense | 12 Months Ended |
Dec. 31, 2021 | |
SHARE-BASED COMPENSATION EXPENSE [Abstract] | |
Share-based Compensation Expense | 5. SHARE-BASED COMPENSATION EXPENSE Sohu (excluding Sohu Video), Changyou, and Sohu Video have incentive plans for the granting of share-based awards, including share options and restricted share units, to members of the boards of directors, management and other key employees. Share-based compensation expense was recognized in costs and expenses for the years ended December 31, 2019, 2020 and 2021 as follows (in thousands): Year Ended December 31, Share-based compensation expense 2019 2020 2021 Cost of revenues $ 142 $ 720 $ 277 Product development expenses 1,364 7,325 3,904 Sales and marketing expenses (326 ) 460 166 General and administrative expenses 1,170 5,975 4,231 $ 2,350 $ 14,480 $ 8,578 Share-based compensation expense was recognized for share awards of Sohu (excluding Sohu Video), Changyou and Sohu Video as follows (in thousands): Year Ended December 31, Share-based compensation expense 2019 2020 2021 For Sohu (excluding Sohu Video) share-based awards $ 1,940 $ 2,633 $ 1,849 For Changyou share-based awards 1,305 12,545 7,773 For Sohu Video share-based awards (895 ) (698 ) (1,044 ) $ 2,350 $ 14,480 $ 8,578 The negative amounts in the tables above resulted from re-measured There was no capitalized share-based compensation expense for the years ended December 31, 2021, 2020 and 2019. |
Advertising and Promotional Exp
Advertising and Promotional Expenses, included in Sales and Marketing Expenses | 12 Months Ended |
Dec. 31, 2021 | |
ADVERTISING AND PROMOTIONAL EXPENSES, INCLUDED IN SALES AND MARKETING EXPENSES [Abstract] | |
Advertising and Promotional Expenses, included in Sales and Marketing Expenses | 6. ADVERTISING AND PROMOTIONAL EXPENSES, INCLUDED IN SALES AND MARKETING EXPENSES Advertising and promotional expenses are included in sales and marketing expenses, and generally represent the expenses of promotions to create or stimulate a positive image of the Sohu Group or a desire to subscribe for the Group’s products and services. Advertising expenses are expensed as incurred. For the years ended December 31, 2021, 2020 and 2019, advertising and promotional expenses recognized in the consolidated statements of comprehensive income were $98.5 million, $84.7 million and $124.6 million, respectively. |
Other Income, Net
Other Income, Net | 12 Months Ended |
Dec. 31, 2021 | |
OTHER INCOME, NET [Abstract] | |
Other Income, Net | 7. OTHER INCOME, NET The following table summarizes the Sohu Group’s other income/(expense) (in thousands): Year Ended December 31, 2019 2020 2021 Rental income from Sogou (1) 8,029 9,793 10,427 Investment income 3,004 3 6,352 Income from investments in financial instruments (2) 11,113 4,303 5,260 Individual tax refund and additional deduction of PRC value-added tax 907 6,169 4,827 Write-down of unpaid long-term accounts payable 0 47 1,276 Gover nment grant 5,763 5,928 418 Impairment loss on equity investments ( 3 (23,154 ) (384 ) (215 ) Donations (283 ) (1,460 ) (1,565 ) Others 2,584 1,594 2,636 $ 7,963 $ 25,993 $ 29,416 Note (1): Sogou leases from Sohu, on an arms-length basis, office space at Sohu.com Internet Plaza under a lease that expires on December 31, 2022 and may be renewed subject to terms to be agreed to by Sohu and Sogou. Note (2): The increase for 2021 compared to 2020 and the decrease for 2020 compared to 2019 were mainly due to income earned from investments in financial instruments. Note ( 3 |
Balance Sheet Components
Balance Sheet Components | 12 Months Ended |
Dec. 31, 2021 | |
BALANCE SHEET COMPONENTS [Abstract] | |
Balance Sheet Components | 8. BALANCE SHEET COMPONENTS (IN THOUSANDS) As of December 31, 2020 2021 Accounts receivable, net Accounts receivable $ 94,528 94,908 Allowance for credit losses (7,007 ) (12,358 ) $ 87,521 82,550 The following table presents the movement of allowances for credit losses for the years of 2019, 2020 and 2021: Balance at the Changes on initial 2016-13 Additional Write-offs Exchange Balance at the 2019 7,574 0 4,724 (8,237 ) (105 ) 3,956 2020 3,956 3,383 2,419 (3,231 ) 480 7,007 2021 7,007 0 6,292 (1,155 ) 214 12,358 As of December 31, 2020 2021 Prepaid and other current assets Matching loan due from a related party (See Note 9) $ 34,123 $ 34,123 Prepaid taxes 25,043 28,719 Prepaid revenue-sharing cost 10,120 12,428 Prepaid content and license costs 11,029 8,694 Prepaid advertising and promotion fee 244 4,685 Interest receivable from bank deposits with original maturities of three months or 3,875 3,059 Receivables from third party payment platforms 5,488 2,670 Prepaid professional fees 2,365 2,432 Prepaid rental deposit s 2,310 1,928 Emplo yee advances 587 569 Prepaid office rent and facilities expenses 696 338 Others 10,710 7,666 $106,590 $ 107,311 Prepaid non-current Prepaid PRC income tax for the sale of assets associated with 17173.com by Sohu to Changyou $ 1,006 $ 0 $ 1,006 $ 0 Other short-term liabilities Matching loans due to a related party (See Note 9) 34,123 34,123 Contingent liability related to Shanghai Jingmao liquidation (1) 23,900 23,900 Deposits related to Focus 21,936 10,387 Share-based awards in Changyou 13,292 20,693 Other payables related to Shanghai Jingmao liquidation (2) 0 9,380 Contract deposits from advertisers 3,036 2,679 Lease liabilities 1,107 1,999 Consideration payable for equity investment 751 769 Others 8,026 8,638 $ 106,171 $ 112,568 Note (1): The contingent liability represents the aggregate of estimated potential payments to third parties in connection with the liquidation of Shanghai Jingmao. The stated amount of the contingent liability reflects Changyou’s best estimate as of December 31, 2020 and 2021 pursuant to ASC 450-20. Note (2): Shanghai Jingmao. In 2021, Changyou received $9.4 million from the bankruptcy proceedings, as a creditor of Shanghai Jingmao, during the process of the liquidation of Shanghai Jingmao. No disposal gain was recognized due to the uncertainty with the proceedings that were still ongoing. Receipts in advance and deferred revenue Receipts in advance relating to: brand advertising business $ 5,214 $ 4,297 online game business 7,869 9,310 other business 6,029 5,286 Total receipts in advance 19,112 18,893 Deferred revenue 32,943 38,148 $52,055 $57,041 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
RELATED PARTY TRANSACTIONS [Abstract] | |
Related Party Transactions | 9. RELATED PARTY TRANSACTIONS Under an agreement between Sohu and Fox Financial Technology Group Limited (“Fox Financial,” formerly known as “SoEasy Internet Finance Group Limited”) entered into in August 2014, Sohu invested $ 4.8 16.1 in 10.5 Financial. Changyou’s Loan Arrangements with Fox Financial Commencing in April 2015, certain subsidiaries of Changyou and certain subsidiaries of Fox Financial entered into a series of loan agreements pursuant to which the subsidiaries of Changyou were entitled to draw down HK dollar-denominated or U.S. dollar-denominated loans from the Fox Financial subsidiaries and the Fox Financial subsidiaries were entitled to draw down equivalent RMB-denominated loans from the Changyou subsidiaries, to facilitate each other’s business operations. All of the loans carry a fixed rate of interest which approximated the market interest rate at the inception of the loans. In December 2018 and 2019, Changyou entered into supplemental agreements with Fox Financial pursuant to which all accrued and unpaid interest on the loans as of December 31, 2018 and December 31, 2019 was added to the principal of the corresponding loans. Due to the depreciation of the RMB against the U.S. dollar in 2018, the principal amounts of Changyou’s outstanding RMB-denominated loans to Fox Financial as of December 31, 2018 were adjusted upward to amounts equal to the principal amounts of Fox Financials’ outstanding U.S. dollar denominated loans to Changyou as of December 31, 2018, multiplied by the monthly average RMB to U.S. dollar exchange rate published by the Bank of China for the month of December 2018. As a result of such adjustment, Changyou advanced additional RMB-denominated loans in the principal amount of RMB8.2 million (approximately $1.2 million) to Fox Financial in January 2019. In December 2019, Changyou entered into a supplemental agreement with Fox Financial pursuant to which Fox Financial provided security for its repayment obligations to Changyou. Under this supplemental agreement, if Fox Financial fails to repay the RMB-denominated loan principal and corresponding interest owed to Changyou, Changyou will have the right to apply the amount of a security deposit, consisting of the outstanding U.S. dollar-denominated loan principal and corresponding interest owed by Changyou to Fox Financial, to repay the RMB-denominated loan principal and interest owed by Fox Financial to Changyou. The security deposit will be required to be replenished by Fox Financial if the amount of the security deposit is insufficient to repay the loan principal and interest of the RMB-denominated loan owed to Changyou, and any remaining security deposit will be returned to Fox Financial if there is a surplus after the repayment of the RMB-denominated loan principal and interest. The parties entered into an additional supplemental agreement pursuant to which Changyou provided security for its repayment obligations to Fox Financial. Under this supplemental agreement, if Changyou fails to repay the U.S. dollar-denominated loan principal and corresponding interest owed to Fox Financial, Fox Financial will have the right to apply the amount of a security deposit, consisting of the outstanding RMB-denominated loan principal and corresponding interest owed by Fox Financial to Changyou, to repay the U.S. dollar-denominated loan principal and interest owed by Changyou to Fox Financial. The security deposit will be required to be replenished by Changyou if the amount of the security deposit is insufficient to repay the U.S. dollar-denominated loan principal and interest owed by Changyou to Fox Financial, and any remaining security deposit will be returned to Changyou if there is a surplus after the repayment of the U.S. dollar-denominated loan principal and interest. The loan arrangements expired on December 31, 2020 and no new supplemental agreements were signed. In May 2021, Changyou notified Fox Financial of Changyou’s intention to exercise its rights under the supplemental agreement by applying the security deposit to repay the RMB-denominated loan principal and corresponding interest owed by Fox Financial to Changyou. As of the date of this report, Changyou has not received any response from Fox Financial and accordingly, with an abundance of caution, has not so applied any of the security deposit. Changyou performed an assessment of its expected credit losses for the RMB-denominated loans receivable from Fox Financial. As of December 31, 2021, the Sohu Group had accrued a cumulative allowance for credit losses of approximately $3.3 million based on Changyou’s estimate of the net of the outstanding amount of such loans receivable from Fox Financial over the amount of the security deposit and on the lack of solvency of Fox Financial. As of December 31, 2021, net loan receivables and loans payable under such loan arrangements, each in the amount of $34.1 million, were recorded as prepaid and other current assets and other short-term liabilities, respectively, in the Sohu Group’s consolidated balance sheets. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2021 | |
FAIR VALUE MEASUREMENTS [Abstract] | |
Fair Value Measurements | 10. FAIR VALUE MEASUREMENTS Fair Value of Financial Instruments U.S. GAAP establishes a three-tier hierarchy to prioritize the inputs used in the valuation methodologies in measuring the fair value of financial instruments. This hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three-tier fair value hierarchy is: Level 1 - observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - include other inputs that are directly or indirectly observable in the market place. Level 3 - unobservable inputs which are supported by little or no market activity. The Sohu Group’s financial instruments consist primarily of cash equivalents, restricted cash, short-term investments, accounts receivable, other current assets, long-term investments, long-term time deposits, restricted time deposits, accounts payable, accrued liabilities, short-term bank loans, other short-term liabilities, long-term bank loans, and long-term other payables. Financial Instruments Measured at Fair Value The following table sets forth the financial instruments, measured at fair value by level within the fair value hierarchy, as of December 31, 2020 (in thousands): Fair value measurements at reporting date using Items As of December 31, 2020 Quoted Prices in Active for Identical (Level 1) Significant Other Observable (Level 2) Significant Unobservable Inputs (Level 3) Cash equivalents $ 173,655 $ 0 $ 173,655 $ 0 Restricted cash 330,791 0 330,791 0 Restricted time deposits 101,519 0 101,519 0 Short-term investments 100,745 0 100,745 0 Equity investments with readily determinable fair values 9,457 9,457 0 0 The following table sets forth the financial instruments, measured at fair value by level within the fair value hierarchy, as of December 31, 2021 (in thousands): Fair value measurements at reporting date using Items As of December 31, 2021 Quoted Prices in Active for Identical (Level 1) Significant Other Observable (Level 2) Significant Unobservable Inputs (Level 3) Cash equivalents $ 949,884 $ 0 $ 949,884 $ 0 Restricted cash 1,969 0 1,969 0 Short-term investments 399,345 0 399,345 0 Equity investments with readily determinable fair values 14,642 14,642 0 0 Long-term time deposits 189,007 0 189,007 0 Cash Equivalents The Sohu Group’s cash equivalents mainly consist of time deposits with original maturities of three months or less, notice deposits, and highly liquid investments that are readily convertible to known amounts of cash. The fair values of cash equivalents are determined based on the pervasive interest rates in the market. The Group classifies the valuation techniques that use the pervasive interest rates input as Level 2 of fair value measurements. Generally, there are no quoted prices in active markets for identical cash equivalents at the reporting date. In order to determine the fair value, the Group must use the discounted cash flow method and observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Restricted Cash and Restricted Time Deposits Restricted cash and restricted time deposits are valued based on the prevailing interest rates in the market using the discounted cash flow method. The Sohu Group classifies the valuation techniques that use these inputs as Level 2 of fair value measurements. Changyou Loans from Offshore Banks, Secured by Time Deposits In 2018, Changyou drew down loans from the Hong Kong branches of PRC banks, which were secured by an equivalent or greater amount of RMB deposits by Changyou in the PRC branches of the banks. The loans from the Hong Kong branches of the lending banks were repaid in April 2019 by Changyou and the RMB deposits in the PRC branches of the banks were released. In the fourth quarter of 2020 and the first quarter of 2021, Changyou drew down from an offshore branch of a PRC bank loans of $215.6 million and $153 million, respectively, secured by an equivalent amount of RMB deposits by Changyou in the PRC branch of the bank and a mortgage on a building owned by Sohu. The loans carried floating rates of interest based on the London Inter-Bank Offered Rate (“LIBOR”). The loans were repaid in full in September 2021 by Changyou and the RMB deposits in the PRC branch of the bank were released. For the years ended December 31, 2021 and 2020, interest income from the restricted time deposits securing the loans were $5.0 million and $0.1 million, respectively, and expense for interest on the loans was $5.3 million and $0.1 million, respectively. In the second quarter of , Changyou pledged deposit certificates in connection with the Sohu Group’s financing of the Changyou Merger. As of December 31, 2020, Changyou had pledged deposit certificates in the amount of $212 million in the aggregate, of which $110 million was recorded as restricted cash and $102 million was recorded as restricted time deposits. In September 2021, the Company repaid all of the outstanding balance under the Facility Agreement with ICBC Tokyo, and as a result all of Changyou’s deposit certificate pledges were released and the Facility Agreement was terminated. Short-term Investments The Sohu Group’s short-term investments mainly consist of investments in financial instruments with a variable interest rate and time deposits with maturities of three months to one year. In accordance with ASC 825, for investments in financial instruments with a variable interest rate indexed to performance of underlying assets and time deposits, the Sohu Group elected the fair value method at the date of initial recognition and carried these investments at fair value. Changes in the fair value are reflected in the consolidated statements of comprehensive income as other income/(expense) and interest income. To estimate fair value, the Group refers to the quoted rate of return provided by banks at the end of each period using the discounted cash flow method. The Group classifies the valuation techniques that use these inputs as Level 2 of fair value measurements. As of December 31, 2021 and December 31, 2020, the Sohu Group’s investment in these financial instruments was $399.3 million and $100.7 million, respectively. The investment instruments with variable interest rates are Long-term Investments Long-term investments consist of equity investments in publicly traded companies, privately-held companies and limited partnerships. ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, The Group measures equity investments under the equity method and equity investments without readily determinable fair values at fair value on a non-recurring Equity Investments Accounted for Using the Equity Method For investments in common stock or in-substance non-recurring non-recurring Equity Investments with Readily Determinable Fair Values Effective as of January 1, 2018, all equity investments in unconsolidated entities (other than those accounted for using the equity method of accounting) will generally be measured at fair value through earnings. There will no longer be an available-for-sale Equity investments with readily determinable fair values are valued using the market approach based on the quoted prices in active markets at the reporting date. The Group classifies the valuation techniques that use these inputs as Level 1 of fair value measurements. Equity Investments without Readily Determinable Fair Values Based on ASU 2016-01, If this measurement alternative is elected, changes in the carrying value of the equity investment will be required to be made whenever there are observable price changes in transactions for identical or similar investments of the same issuer. The implementation guidance notes that an entity should make a “reasonable effort” to identify price changes that are known or that can reasonably be known. When observable price changes were identified, the Group used the back-solve method to re-measure non-recurring Long-term Time Deposits The Sohu Group elected the fair value method at the date of initial recognition of time deposits with maturities over one Assets Measured at Fair Value on a Nonrecurring Basis The following table sets forth assets measured at fair value on a nonrecurring basis by level within the fair value hierarchy as of December 31, 2020 and 2021 (in thousands) Fair value measurements at reporting date using Items As of Quoted Prices in Significant Other Significant Purchased video content recorded in prepaid and other assets $ 2,585 $ 0 $ 0 $ 2,585 Intangible assets, net 4,842 0 0 4,842 Goodwill 48,434 0 0 48,434 Fair value measurements at reporting date using Items As of Quoted Prices in Significant Other Significant Purchased video content recorded in prepaid and other assets $ 2,555 $ 0 $ 0 $ 2,555 Intangible assets, net 9,136 0 0 9,136 Goodwill 48,811 0 0 48,811 Purchased Video Content Recorded in Prepaid and Other Assets The impairment losses recognized in prepaid and other assets were mainly due to impairment losses for Sohu Video’s purchased video content. See Note 14 - Intangible Assets, Net. Intangible Assets Intangible assets mainly comprise purchased video content, operating rights for licensed games, domain names and trademarks, computer software, and developed technologies. The impairment losses recognized for intangible assets were mainly due to impairment losses for the domain name related to the 56.com Website and Sohu Video’s purchased video content. See Note 14 - Intangible Assets, Net. Goodwill Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired as a result of the Group’s acquisitions of interests in its subsidiaries and consolidated VIEs. See Note 13 - Goodwill. Short-term Receivables and Payables Accounts receivable and other current assets are financial assets with carrying values that approximate fair value due to their short-term nature. Short-term accounts payable, accrued liabilities, short-term bank loans and other short-term liabilities are financial liabilities with carrying values that approximate fair value due to their short-term nature. Short-term Bank Loans For short-term bank loans, the rates of interest under the agreements with the lending banks were determined based on the prevailing interest rates in the market. • Credit agreements with Industrial and Commercial Bank of China Limited (“ICBC”) In September 2017, Sohu entered into credit agreements with ICBC pursuant to which Sohu was entitled to borrow from ICBC from time to time until March 31, 2018 up to a combined aggregate of RMB800 million (or $116.6 million). The loan is secured by the pledge of Sohu’s building which serves as Sohu’s corporate headquarters in Beijing (“Sohu’s headquarters”). Interest accrues on the principal amounts of the loans outstanding at an annual rate equal to the Loan Prime Rate (“LPR”) published by the National Interbank Funding Center, plus 1.2%. The outstanding principal amount of the loan will be payable in four equal installments, with the first installment payable 18 months after the drawdown and the other three installments payable semi-annually at the end of each of the three successive six-month In July 2020, Sohu repaid all of the outstanding balance under the loan arrangements with ICBC and Sohu’s headquarters were released from the pledge. As of both December 31, 2021 and December 31, 2020, the total outstanding balance of the loan was nil. • Credit agreements with the China Merchants Bank Co., Ltd. (“CMB”) In April 2018, Sohu entered into credit agreements with CMB pursuant to which Sohu was entitled to borrow from CMB from time to time until March 22, 2021 up to an aggregate of RMB700 million (or approximately $102.0 million) (the “CMB Loan”). In April 2018, Sohu made an initial drawdown under the CMB Loan with a term of 12 months in the amount of RMB400 million (or $58.3 million) (the “First Drawdown”). The proceeds of the First Drawdown were used to repay in full the outstanding balance and all accrued and unpaid interest under credit agreements between Sohu and Ping An Bank. The CMB Loan was secured by a pledge of Sohu’s building, which was released from the pledge after Ping An Bank received such repayment. Interest accrued on the outstanding principal balance at a rate of 6% per year. In April 2019, the outstanding principal amount of the First Drawdown was repaid in full. In , Sohu made a drawdown under the CMB Loan with a term of months in the amount of RMB million (or approximately $ million) (the “Subsequent Drawdown”). Interest accrued on the outstanding principal balance at a rate of % per year. The outstanding principal amount of the Subsequent Drawdown was payable in installments. In April 2019 and May 2019, Sohu made drawdowns under the CMB Loan with a term of 12 months in the aggregate amount of RMB399 million ($59.3 million). Interest accrues on the outstanding principal balances at a rate of 5.1% per year. The outstanding principal amount of each drawdown will be due and payable 12 months after such drawdown. In May 2020, Sohu repaid all of the outstanding balance under the loan arrangements with CMB and the pledge of Sohu’s building was released. As of both December 31, 2021 and December 31, 2020, the total outstanding balance of the CMB loan was nil. • Credit agreement with Industrial and Commercial Bank of China Limited, Tokyo Branch (“ICBC Tokyo”) On April 3, 2020, the Company’s indirect wholly-owned subsidiary Sohu.com (Game) Limited (“Sohu Game”), as borrower, and Sohu.com Limited, as one-year “One-Year One-Year one-year One-Year was was One-Year bore w as The obligations of Sohu Game as borrower under the Term Facility were initially fully guaranteed by Sohu.com Limited, and were initially secured by first priority share pledges over 97.9% of the outstanding equity interests in Changyou. In the second quarter of 2020, Changyou pledged deposit certificates evidencing an RMB deposit in the amount of $192 million in the aggregate at an exchange rate of RMB7.20 to $1.00 In September 2021, the Company repaid all of the outstanding balance under the Facility Agreement with ICBC Tokyo, and as a result all of Changyou’s deposit certificates pledges were released and the Facility Agreement was terminated. Long-term Payables Long-term payables mainly consist of long-term other payables and long-term bank loans. Long-term After the Changyou Plans’ Modification, long term other . |
Lease
Lease | 12 Months Ended |
Dec. 31, 2021 | |
LEASE [Abstract] | |
Leases | 11. LEASE The Group has entered into operating lease agreements, primarily for offices in China with lease periods expiring between 2021 and 2026. The determination of whether an arrangement is or contains a lease is made at the inception of the lease by evaluating whether the arrangement conveys the right to use an identified asset and whether the Group obtains substantially all of the economic benefits from and has the ability to direct the use of the asset. Operating lease assets and liabilities are included on the Group’s consolidated balance sheets beginning January 1, 2019. The right-of-use Operating lease assets and liabilities are recognized at the present value of the future lease payments at the lease commencement date. The Group uses its incremental borrowing rate in determining the present value of the future lease payments, because the interest rate implicit in most of the leases is not readily determinable. The Group estimates its incremental borrowing rate for each leased asset based on the interest rate the Group would incur to borrow an amount equal to the lease payments on a collateralized basis over a similar term in a similar economic environment. Certain lease agreements contain an option for the Group to renew a lease for a term agreed to by the Group and the lessor or an option to terminate a lease earlier than the maturity date. The Group considers these options, which may be elected at the Group’s sole discretion, in determining the lease term on a lease-by-lease basis. The Group’s lease agreements generally do not contain any residual value guarantees or material restrictive covenants. Certain of the Group’s leases contain free or escalating rent payment terms. Operating lease expense is recognized on a straight-line basis over the lease term. The Group’s lease agreements generally contain lease and non-lease Non-lease non-lease non-lease Components of operating lease expense are as follows (in thousands): Year ended December 31, 2020 2021 Operating lease expense $ 3,985 $ 2,952 Short-term lease expense 297 563 Total operating lease expense $ 4,282 $ 3,515 Supplemental cash flow information related to leases are as follows (in thousands): Year ended December 31, 2020 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 3,206 $ 3,085 Year ended December 31, 2020 2021 Right-of-use Operating leases $ 5,351 $ 2,620 The following table presents supplemental balance sheet information related to the operating leases (in thousands): Year ended December 31, 2020 2021 Assets: Operating lease right-of-use ass $ 4,998 $ 5,207 Liabilities: Current lease liabilities 1,107 1,999 Non-current lease 3,855 3,142 Total operating lease liabilities $ 4,962 $ 5,141 Maturities of lease liabilities under operating leases as of December 31, 2021 are as follows (in thousands): 2022 $ 2,853 2023 2,240 2024 277 2025 98 202 6 0 Thereafter 0 Total future lease payments 5,468 Less: imputed interest 327 Total present value of lease liabilities $ 5,141 As of December 31, 2021, operating leases recognized |
Fixed Assets
Fixed Assets | 12 Months Ended |
Dec. 31, 2021 | |
FIXED ASSETS [Abstract] | |
Fixed Assets | 12. FIXED ASSETS The following table summarizes the Sohu Group’s fixed assets (in thousands): As of December 31, 2020 2021 Office buildings $ 392,045 $ 401,223 Computer equipment and hardware 132,021 123,079 Leasehold and building improvements 36,649 37,753 Office furniture 6,841 6,960 Vehicles 3,729 3,515 Fixed assets, gross 571,285 572,530 Accumulated depreciation (233,611 ) (242,533 ) Fixed assets, net $ 337,674 $ 329,997 For the years ended December 31, 2021, 2020 and 2019, depreciation expenses for fixed assets were $23.5 million, $25.5 million and $28.2 million, respectively. |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2021 | |
GOODWILL [Abstract] | |
Goodwill | 13. GOODWILL Changes in the carrying value of goodwill by segment are as follows (in thousands): Sohu Changyou Total Balance as of December 31, 2019 Goodwill 69,379 180,543 249,922 Accumulated impairment losses (32,246 ) (170,286 ) (202,532 ) $ 37,133 $ 10,257 $ 47,390 Transactions in 2020 Foreign currency translation adjustment 1,044 0 1,044 Balance as of December 31, 2020 $ 38,177 $ 10,257 $ 48,434 Balance as of December 31, 2020 Goodwill 70,423 180,543 250,966 Accumulated impairment losses (32,246 ) (170,286 ) (202,532 ) $ 38,177 $ 10,257 $ 48,434 Transactions in 2021 Foreign currency translation adjustment 377 0 377 Balance as of December 31, 2021 $ 38,554 $ 10,257 $ 48,811 Balance as of December 31, 2021 Goodwill 70,800 180,543 251,343 Accumulated impairment losses (32,246 ) (170,286 ) (202,532 ) $ 38,554 $ 10,257 $ 48,811 There was one reporting unit under the Sohu segment. After Changyou ceased operation of RaidCall and the cinema advertising business, the reporting units under the Changyou segment consisted of the Changyou online game business and the 17173.com Website. The Changyou online game business was the only reporting unit with goodwill under the Changyou segment. In the fourth quarter of 2021, the Sohu Group tested goodwill for impairment at the reporting unit level. The Group performed impairment tests using the qualitative and quantitative methods. For the Sohu segment, management determined that a quantitative assessment was most appropriate. Impairment tests were conducted by quantitatively comparing the fair values of the reporting units to their carrying amounts. The Sohu segment estimated the fair values using the income approach and market approach. The valuation approach considers a number of factors that include expected future cash flows, revenue growth rates, discount rates, and requires Sohu to make certain assumptions and estimates regarding future profitability of the business. The market approach considers earnings multipliers based on market data of comparable companies engaged in similar business. The fair value determined using the income approach is compared with comparable market data and reconciled, as necessary. For the Changyou segment, management performed a qualitative assessment to determine whether it was more likely than not that the fair value of the reporting unit was less than its carrying amount. As of December 31, 2021 and 2020, for the Sohu segment and Changyou segment, management concluded that the fair values of the reporting units exceeded their carrying values, indicating that the goodwill of the reporting units was not impaired. |
Intangible Assets, Net
Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2021 | |
INTANGIBLE ASSETS, NET [Abstract] | |
Intangible Assets, Net | 14. INTANGIBLE ASSETS, NET As of December 31, 2020 Items Gross Carrying Amount Accumulated Amortization Accumulated Impairment Net Carrying Amount Purchased video content $ 212,999 $ (161,160 ) $ (50,088 ) $ 1,751 Operating rights for licensed games 51,856 (35,017 ) (14,026 ) 2,813 Domain names and trademarks 27,536 (10,243 ) (17,219 ) 74 Computer software 11,749 (11,545 ) 0 204 Developed technologies 8,699 (918 ) (7,781 ) 0 Others 2,928 (966 ) (1,962 ) 0 Total $ 315,767 $ (219,849 ) $ (91,076 ) $ 4,842 As of December 31, 2021 Items Gross Carrying Amount Accumulated Amortization Accumulated Impairment Net Carrying Amount Purchased video content $ 138,902 $ (99,961 ) $ (37,343 ) $ 1,598 Operating rights for licensed games 60,454 (39,431 ) (13,895 ) 7,128 Domain names and trademarks 26,766 (10,240 ) (16,506 ) 20 Computer software 12,474 (12,084 ) 0 390 Developed technologies 8,879 (936 ) (7,943 ) 0 Others 2,996 (988 ) (2,008 ) 0 Total $ 250,471 $ (163,640 ) $ (77,695 ) $ 9,136 Impairment Losses In 2021, Sohu recognized a $14,000 impairment loss related to Sohu Video’s purchased video content pursuant to the Sohu Group’s policy on impairment of overseas content. Changyou recognized a $1.7 million impairment loss related to content and game licenses, of which $0.1 million was recognized as impairment of intangible assets and $1.6 million was recognized as impairment of prepaid and other current assets. In 2020 , Sohu recognized a $ million impairment loss related to Sohu Video’s purchased video content pursuant to the Sohu Group’s policy on impairment of overseas content. Changyou recognized a $ million impairment loss related to content and game licenses, of which $ million was recognized as impairment of intangible assets and $ million was recognized as impairment of prepaid and other current assets. In 2019, Sohu recognized a $7.2 million impairment loss for a domain name related to the 56.com Website, mainly due to enhanced restrictions that Chinese regulatory authorities imposed on the broadcasting industry, which had an adverse effect on the operation of the 56.com Website. Also in 2019, Sohu recognized a $4.0 million impairment loss related to Sohu Video’s purchased video content pursuant to the Sohu Group’s policy on impairment of overseas content. Amortization In 2021, 2020 and 2019, amortization of intangible assets was $12.5 million, $14.4 million and $38.8 million, respectively. As of December 31, 2021, amortization expenses for future periods are estimated to be as follows: For the year ended December 31, (in thousands) 2022 4,357 2023 3,761 2024 1,018 2025 0 2026 0 Thereafter 0 Total expected amortization expense $ 9,136 |
Taxation
Taxation | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Taxation | 15. TAXATION Income Tax PRC Corporate Income Tax The majority of the subsidiaries and VIEs of the Sohu Group are based in mainland China and are subject to income taxes in the PRC. These China-based subsidiaries and VIEs conduct substantially all of the Sohu Group’s operations, and generate most of the Sohu Group’s income or losses. The CIT Law applies an income tax rate of 25% to all enterprises but grants preferential tax treatment to HNTEs, Software Enterprises, and KNSEs. Principal Entities Qualifi e Under preferential tax treatment, HNTEs can enjoy an income tax rate of 15%, but need to re-apply As of December 31, 2021, the following principal entities of the Sohu Group were qualified as HNTEs and were entitled to an income tax rate of 15%. For Sohu • Video Tianjin and Sohu Internet. Video Tianjin and Sohu Internet re-applied re-apply • Sohu Media and Guangzhou Qianjun. Sohu Media and Guangzhou Qianjun qualified as HNTEs for the years 2020 through 2022, and will need to re-apply • Sohu New Momentum. Sohu New Momentum qualified as an HNTE for the years 2019 through 2021, and will need to re-apply For Changyou • Gamease and AmazGame. Gamease and AmazGame qualified as HNTEs for the years 2020 through 2022, and will need to re-apply • Gamespace and Changyou Chuangxiang. Gamespace and Changyou Chuangxiang qualified as HNTEs for the years 2019 through 2021, and will need to re-apply F-48 Principal Entities Qualified as Software Enterprises The CIT Law and its implementing regulations provide that a Software Enterprise is entitled to an income tax exemption for beginning with its first profitable year and a % reduction to a rate of % for the subsequent . Enterprises wishing to enjoy the status of a Software Enterprise must perform a self-assessment each year to ensure they meet the criteria for qualification and file required supporting documents with the Ministry of Industry and Information Technology of the PRC and the relevant tax authorities before using the preferential CIT rates. These enterprises will be subject to the relevant governmental authorities’ assessment each year as to whether they are entitled to use the relevant preferential CIT treatments. If at any time during the preferential tax treatment years an enterprise uses the preferential CIT rates but the relevant authorities determine that it fails to meet applicable criteria for qualification, the relevant authorities may revoke the enterprise’s Software Enterprise status. For Changyou • Changyou Chuangxiang. In 2021, Changyou Chuangxiang completed a self-assessment and filed required supporting documents for Software Enterprise status for 2020. Also in 2021, Changyou Chuangxiang qualified as a Software Enterprise after the relevant government authorities’ assessment and became entitled to a preferential income tax rate of 12.5% for 2020. Changyou Chuangxiang plans to follow the appropriate rules and procedures of the relevant government authorities in order to maintain its Software Enterprise status for 2021, the last year of a five-year period of qualification for Changyou Chuangxiang as a Software Enterprise. U.S. Corporate Income Tax Sohu.com Inc., which was formerly the top-tier publicly-traded parent company of the Sohu Group, was dissolved and liquidated on May 31, 2018. Sohu.com Inc. was a Delaware corporation that was subject to U.S. federal corporate income tax on its taxable income at a rate of 21% for taxable years beginning after December 31, 2017 and of up to 35% for prior tax years. U.S. federal tax legislation signed into law on December 22, 2017, commonly referred to as the Tax Cuts and Jobs Act (the “U.S. TCJA”), significantly modified the U.S. Internal Revenue Code by, among other things, reducing the maximum statutory U.S. federal corporate income tax rate from 35% to 21% for taxable years beginning after December 31, 2017; limiting and/or eliminating many business deductions; migrating the U.S. to a partial territorial tax system with a one-time Toll Charge on a mandatory deemed repatriation of previously deferred foreign earnings of certain foreign subsidiaries; subject to certain limitations, generally eliminating U.S. corporate income tax on dividends from foreign subsidiaries; and providing for new taxes on certain foreign earnings. Certain activities conducted in the PRC resulted in U.S. corporate income taxes being imposed on Sohu.com Inc. when its subsidiaries that were controlled foreign corporations (“CFCs”) generated income that was subject to Subpart F of the U.S. Internal Revenue Code (“Subpart F”). Generally, passive income, such as rents, royalties, interest, dividends, and gains from disposal of the company’s investments, was among the types of income that were subject to taxation under Subpart F. Any income taxable under Subpart F was taxable in the U.S. at the applicable federal corporate income tax rate. Subpart F income also included certain income from intra-Group transactions between Sohu.com Inc.’s non-U.S. subsidiaries and VIEs and Changyou’s non-U.S. subsidiaries and VIEs or Sogou’s non-U.S. subsidiaries and VIEs, or where Sohu.com Inc.’s non-U.S. subsidiaries or VIEs made an “investment in U.S. property,” such as holding the stock in, or making a loan to, a U.S. corporation. Under a provision of the U.S. tax code commonly referred to as the CFC look-through rule, Sohu.com Inc. did not have to treat dividends received by its CFC subsidiaries as Subpart F income includible in Sohu.com Inc.’s taxable income in the U.S. To the extent that portions of Sohu.com Inc.’s U.S. taxable income, such as Subpart F income or GILTI, as applicable, had been determined to be from sources outside of the U.S., subject to certain limitations, Sohu.com Inc. may have been entitled to claim foreign tax credits to offset its U.S. income tax liabilities. Following the enactment of the U.S. TCJA, if dividends that Sohu.com Inc. received from its subsidiaries after January 1, 2018 were determined to be from sources outside of the U.S., subject to certain limitations, Sohu.com Inc. would generally not have been required to pay U.S. corporate income tax on those dividends. Liabilities for U.S. corporate income tax were accrued in the Company’s consolidated statements of comprehensive income and estimated tax payments were made when required by U.S. law. Treatment of Toll Charge Related to the U.S. TCJA Beginning in the fourth quarter of 2017, the Sohu Group had recognized a provisional amount of income tax expense for the Toll Charge of $219 million, which represented management’s estimate of the amount of the Toll Charge that would have been payable by Sohu.com Inc. based on the deemed repatriation to the United States of its share of previously deferred earnings of certain of its non-U.S. For the fourth quarter of 2018, the Sohu Group’s management re-evaluated The tax benefit recognized and the unrecognized tax benefit in relation to the Toll Charge may be subject to further adjustment in subsequent periods based on facts and circumstances that arose after December 31, 2021, such as any IRS assessments upon audit and management’s further judgment and estimates. Cayman Island Tax Under the current tax laws of the Cayman Islands, the Group is not subject to tax on its income or capital gains. In addition, no Cayman Islands withholding tax will be imposed upon the payment of dividends by the Group to its shareholders. Hong Kong Tax The Group’s subsidiaries incorporated in Hong Kong are subject to profits tax in Hong Kong at the rate of 16.5% for each of the years ended December 31, 2019, 2020 and 2021 . Composition of Income Tax Expense Sohu.com Inc., which was the former top-tier top-tier The components of income before income taxes are as follows (in thousands): Year ended December 31, 2019 2020 2021 Income/(loss) before income tax expense Income/(loss) from China operations $ (89,150 ) $ 154,514 $ 153,708 Income/(loss) from non-China 19,079 (57,815 ) (22,141 ) Total income/(loss) before income tax expense from continuing operations $ (70,071 ) $ 96,699 $ 131,567 Income tax expense applicable to China operations Current tax $ 9,026 $ 24,255 $ 31,089 Deferred tax 11,191 102,652 26,207 Subtotal income tax expense applicable to China operations 20,217 126,907 57,296 Non-China 7,887 6,207 4,817 Non-China 324 112 183 Total income tax expense from continuing operations $ 28,428 $ 133,226 $ 62,296 In 2021, of the $62.3 million total income tax expense, $57.3 million was from PRC tax, resulting primarily from accrued regular income tax expense of $48.4 million, and $5 million was for U.S. corporate income tax, resulting primarily from accrued interest on an unrecognized tax benefit. In 2020, of the $133.2 million total income tax expense, $126.9 million was for PRC tax, resulting primarily from accrued regular income tax expense of $40.7 million and additional income withholding tax of $88 million recognized by Changyou due to a revised policy with respect to Changyou’s PRC subsidiaries regarding their distribution of cash dividends, offset by a reversal of PRC income tax expense of $6.9 million by Changyou due to preferential tax rates that Changyou’s subsidiaries were entitled to as KNSEs; and $6 million was for U.S. corporate income tax, resulting primarily from accrued interest on an unrecognized tax benefit. In , of the $ million total income tax expense, $ million was for PRC tax, resulting primarily from accrued regular income tax expense of $ million, offset by a reversal of PRC income tax expense of $ million by Changyou due to preferential tax rates that Changyou’s subsidiaries were entitled to as KNSE and Software enterprises, and $ million was for U.S. corporate income tax, resulting primarily from accrued interest on an unrecognized tax benefit. The combined effects of the income tax exemption and reduction available to the Group are as follows (in thousands, except per share data): Year Ended December 31, 2019 2020 2021 Tax holiday effect $ 7,981 $ 16,174 $ 1,635 Basic net income per share effect 0.20 0.41 0.04 Effective Tax Rate The CIT Law applies an income tax rate of 25% to all enterprises, but grants preferential tax treatment to HNTEs, Software Enterprises, and KNSEs. The U.S. TCJA significantly modified the U.S. Internal Revenue Code by, among other things, reducing the statutory U.S. federal corporate income tax rate from 35% to 21% for taxable years beginning after December 31, 2017; limiting and/or eliminating many business deductions; migrating the U.S. to a territorial tax system with a one-time The following is reconciliation between the statutory rate and the Group’s effective tax rate. For 2019, 2020 and 2021, the statutory rate represented the PRC statutory rate of 25%. The table does not reflect any accruals related to the Toll Charge. See “ U.S. Corporate Income Tax Treatment of Toll Charge Related to the U.S. TCJA. Year Ended December 31, 2019 2020 2021 Statutory Rate: 25 % 25 % 25 % Effect of tax holidays applicable to subsidiaries and consolidated VIEs (1) 11 % (17 %) (1 %) Tax differential from statutory rate applicable to subsidiaries and consolidated VIEs 7 % 9 % 3 % Effect of withholding taxes (2) (12 %) 109 % 19 % Changes in valuation allowance for deferred tax assets (71 %) 27 % 31 % Research and development super-deduction 12 % (9 %) (19 %) Others (1 %) (13 %) (14 %) (29 %) 131 % 44 % Note (1): The reversal of income tax for preferential income tax rates that Changyou’s subsidiaries and VIEs were entitled to as KNSEs or Software Enterprises for 2019, 2020 and 2021 was included in the “Effect of tax holidays applicable to subsidiaries and consolidated VIEs” in the above table. Note (2): The revised policy was adopted to facilitate the distribution of a special cash dividend in the aggregate amount of approximately $500.0 million that was declared by Changyou’s board of directors (the “Changyou Board”) on April 5, 2018. The change for 2020 was mainly due to additional income withholding tax of $88 million that was recognized in the second quarter of 2020 due to a revised policy with respect to Changyou’s PRC subsidiaries regarding their distribution of cash dividends. PRC Withholding Tax on Dividends The CIT Law imposes a 10% withholding income tax on dividends distributed by foreign invested enterprises in the PRC to their immediate holding companies outside Mainland China. A lower withholding tax rate may be applied if there is a tax treaty between Mainland China and the jurisdiction of the foreign holding company. A holding company in Hong Kong, for example, will be subject to a 5% withholding tax rate under an arrangement between the PRC and the Hong Kong Special Administrative Region on the “Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income,” if such holding company is considered a non-PRC Before 2018, in order to fund the distribution of a dividend to shareholders of the Sohu Group’s majority-owned subsidiary Changyou, Changyou’s management determined to cause one of its PRC subsidiaries to declare and distribute a cash dividend of all of its stand-alone 2012 earnings and half of its stand-alone subsequent years’ earnings to its direct overseas parent company, Changyou HK, and adopted as a policy for such subsequent years for its PRC subsidiaries a limit on payment of dividends to their direct overseas parent companies of one-half of such PRC subsidiaries’ earnings. In 2018, in order to facilitate the distribution of a special cash dividend of million declared by the Changyou Board on April 5, 2018, Changyou revised its policy for its PRC subsidiaries with respect to their distribution of cash dividends. Under the revised policy, all of Changyou’s PRC subsidiaries (not including Changyou’s VIEs and their subsidiaries) will be able to distribute their cumulative available and undistributed earnings to their direct overseas parent companies in future periods. The change resulted in Changyou’s accrual of additional withholding income taxes of approximately million for the period before December 31, 2017, which was recognized in the Sohu Group’s consolidated financial statements for the quarter ended March 31, 2018. As of December 31, 2019, the Sohu Group had accrued deferred tax liabilities related to Changyou in the amount of million for PRC withholding tax. In 2020, after the completion of Changyou Merger, Changyou’s net income/(loss) is wholly attributable to Sohu. Changyou changed its policy for its PRC subsidiaries with respect to their distribution of cash dividends. The change resulted in Changyou’s accrual of additional withholding income taxes of approximately million, which was recognized in the Sohu Group’s consolidated financial statements for the quarter ended June 30, 2020. As of December 31, 2021, the Sohu Group had accrued deferred tax liabilities related to Changyou in the amount of With the exception of that dividend, the Sohu Group does not intend to have any of its PRC subsidiaries or VIEs distribute any undistributed profits of such subsidiaries or VIEs to their direct overseas parent companies, but rather intends that such profits will be permanently reinvested by such subsidiaries and VIEs for their PRC operations. As of December 31, 2021, the total amount of undistributed profits from the PRC subsidiaries and VIEs for which no withholding tax had been accrued was $484.9 million, and the unrecognized tax liabilities were $48.5 million. PRC Value-Added Tax On May 1, 2016, the transition from the imposition of PRC business tax to the imposition of VAT was expanded to all industries in China, and as a result all of the Sohu Group’s revenues have been subject to VAT since that date. To record VAT payable, the Group adopted the net presentation method, which presents the difference between the output VAT (at a rate of 6%) and the available input VAT amount (at the rate applicable to the supplier). Deferred Tax Assets and Liabilities Significant components of the Group’s deferred tax assets and liabilities consist of the following (in thousands): As of December 31, 2020 2021 Deferred tax assets: Net operating loss from operations $ 325,797 $ 291,380 Accrued bonus and commissions 10,613 9,101 Intangible assets transfer 690 485 Others 8,692 7,489 Total deferred tax assets 345,792 308,455 Less: Valuation allowance (326,755 ) (289,097 ) Net deferred tax assets $ 19,037 $ 19,358 Deferred tax liabilities Withholding tax for dividend $ (206,594 ) $ (237,116 ) Others (10,999 ) (12,049 ) Total deferred tax liabilities $ (217,593 ) $ (249,165 ) Net deferred tax assets are recorded under other assets in the consolidated balance sheets. As of December 31, 2021, the Group had net operating losses from PRC entities of approximately $1.85 billion available to offset against future net profit for income tax purposes. The Group anticipates that it is more likely than not that these net operating losses may not be utilized based on its estimate of the operation performance of these PRC entities; therefore, $285.8 million in deferred tax assets generated from net operating losses were offset by a valuation allowance. The following table sets forth the movement of the valuation allowances for deferred tax assets for the years presented (in thousands): For the Year Ended December 31, 2019 2020 2021 Beginning balance $ 250,524 283,711 326,755 Provision for the year 44,634 36,363 45,787 Reversal for the year (7,311 ) (12,637 ) (91,019 ) Foreign currency translation adjustment (4,136 ) 19,318 7,574 Ending balance $ 283,711 326,755 289,097 In 2021, $48.5 being Uncertain Tax Positions The following table summarizes the Group’s unrecognized tax benefit from January 1, 2019 to December 31, 2021 (in thousands): As of December 31, 2019 2020 2021 Beginning balance $ 174,363 $ 181,640 $ 188,760 Increases/(decreases) related to prior year tax positions 7,277 7,120 5,158 Increases related to current year tax positions 0 0 0 Ending balance $ 181,640 $ 188,760 $ 193,918 The increases in 2021, 2020 and 2019 were mainly due to interest recognized in connection with an unrecognized tax benefit. The material jurisdictions in which the Group is subject to potential examination include China and the United States. In general, the PRC tax authorities have up to five years and in certain cases up to 10 years, and the U.S. IRS has up to three years and in certain cases up to six years, to conduct examinations of the tax filings of the Group. All of these related tax years are open for the Sohu Group. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
COMMITMENTS AND CONTINGENCIES [Abstract] | |
Commitments and Contingencies | 16. COMMITMENTS AND CONTINGENCIES Commitments The following table sets forth the Group’s commitments as of December 31, 2021 (in thousands): 2022 2023 2024 2025 2026 Thereafter Total Royalties and expenditures for licensed content of games $ 15,976 13,512 2,746 0 0 0 32,234 Purchase of bandwidth 14,418 1,029 455 0 0 0 15,902 Purchase of content and services - others 7,530 389 43 0 0 0 7,962 Purchase of content and services - video 6,387 0 0 0 0 0 6,387 Operating lease obligations 3,355 660 103 37 0 0 4,155 Others 3,796 0 0 0 0 0 3,796 Total Payments Required $ 51,462 15,590 3,347 37 0 0 70,436 Litigation The Sohu Group is a party to various litigation matters which it considers routine and incidental to its business. The Sohu Group records a liability when the likelihood of an unfavorable outcome is probable and the amount of loss can be reasonably estimated. The Sohu Group evaluates, on a regular basis, developments in litigation matters that could affect the amount of liability that has been previously accrued and makes adjustments as appropriate. Management believes that the total liabilities to the Sohu Group that may arise as a result of currently pending legal proceedings will not have a material adverse effect on the Group’s business, results of operations, financial condition and cash flows. As of December 31, 2021, Sohu and Changyou had no significant litigation contingencies. PRC Law and Regulations The Chinese market in which the Sohu Group operates poses certain macro-economic and regulatory risks and uncertainties. These uncertainties extend to the ability to operate an Internet business and to conduct brand advertising, search and search-related advertising, online game, and other services in the PRC. Though the PRC has, since 1978, implemented a wide range of market-oriented economic reforms, continued reforms and progress towards a full market-oriented economy are uncertain. In addition, the telecommunication, information, and media industries remain highly regulated. Restrictions are currently in place and are unclear with respect to which segments of these industries foreign-owned entities, like the Sohu Group, may operate. The Chinese government may issue from time to time new laws or new interpretations of existing laws to regulate areas such as telecommunication, information and media. The Sohu Group’s legal structure and scope of operations in China could be subject to restrictions, which could result in limits on its ability to conduct business in the PRC. Certain risks related to PRC law that could affect the Sohu Group’s VIE structure are discussed in Note 17 - VIEs. Regulatory risks also encompass interpretation by PRC tax authorities of current tax law, including the applicability of certain preferential tax treatments. The Sohu Group’s sales, purchase and expense transactions are generally denominated in RMB and a significant portion of its assets and liabilities are denominated in RMB. The RMB is not freely convertible into foreign currencies. In China, foreign exchange transactions are required by law to be transacted only by authorized financial institutions. Remittances in currencies other than RMB by its subsidiaries in China may require certain supporting documentation in order to effect the remittance. |
VIEs
VIEs | 12 Months Ended |
Dec. 31, 2021 | |
VIES [Abstract] | |
VIEs | 17. VIEs Background PRC laws and regulations prohibit or restrict foreign ownership of companies that operate value-added telecommunication services, Internet publishing, online news information services, online audiovisual transmission, online games, and certain other business activities in the PRC in which the Sohu Group is engaged or could be deemed to be engaged. Consequently, the Sohu Group conducts certain of its operations and businesses in the PRC through VIEs. The Sohu Group consolidates in its consolidated financial statements all of the VIEs of which the Group is the primary beneficiary for accounting purposes. VIEs Consolidated within the Sohu Group The Sohu Group adopted the guidance of accounting for VIEs, which requires VIEs to be consolidated by the primary beneficiary of the entity. Management made evaluations of the relationships between the Sohu Group and the VIEs through which it conducts a significant portion of its operations and the economic benefit flow of contractual arrangements with the VIEs. In connection with such evaluations, management also took into account the fact that, as a result of contractual arrangements with the VIEs that the Sohu Group consolidates, it controls the shareholders’ voting interests in those VIEs. As a result of such evaluations, the management concluded that the Sohu Group is the primary beneficiary of the VIEs that the Group consolidates. All of the consolidated VIEs are incorporated and operated in the PRC, and the principal VIEs are directly or indirectly owned by Dr. Charles Zhang, the Sohu Group’s Chairman and Chief Executive Officer, or other executive officers and employees of the Sohu Group identified below. Capital for the consolidated VIEs was funded by the Sohu Group through loans provided to Dr. Charles Zhang and other executive officers and employees, and was initially recorded as loans to related parties. These loans are eliminated for accounting purposes against the capital of the VIEs upon consolidation. Under contractual agreements with the Sohu Group, Dr. Charles Zhang and those other executive officers and employees of the Sohu Group who are shareholders of the consolidated VIEs are required to transfer their ownership in these entities to the Group, if permitted by PRC laws and regulations, or, if not so permitted, to designees of the Group at any time as requested by the Group to repay the loans outstanding. All voting rights of the consolidated VIEs are assigned to the Sohu Group, and the Group has the right to designate all directors and senior management personnel of the consolidated VIEs, and also has the obligation to absorb losses of the consolidated VIEs. Dr. Charles Zhang and those other executive officers and employees of the Sohu Group who are shareholders of the consolidated VIEs have pledged their shares in the consolidated VIEs as collateral for the loans. As of December 31, 2021, the aggregate amount of these loans was $7.6 million. Under its contractual arrangements with the consolidated VIEs, the Sohu Group has the power to direct activities of the VIEs, and can have assets transferred freely out of the VIEs without any restrictions. Therefore, the Group considers that there is no asset of a consolidated VIE that can be used only to settle obligations of the VIEs, except for registered capital and PRC statutory reserves of the VIEs. As of December 31, 2021, the registered capital and PRC statutory reserves of the consolidated VIEs totaled $45.1 million. As all of the consolidated VIEs are incorporated as limited liability companies under the PRC Company Law, creditors of the consolidated VIEs do not have recourse to the general credit of the Sohu Group for any of the liabilities of the consolidated VIEs. Currently there is no contractual arrangement that could require the Sohu Group to provide additional financial support to the consolidated VIEs. As the Sohu Group is conducting certain business in the PRC mainly through the consolidated VIEs, the Group may provide such support on a discretionary basis in the future, which could expose the Group to a loss. The Sohu Group classified the consolidated VIEs within the Sohu Group as principal VIEs or immaterial VIEs based on certain criteria, such as the VIEs’ total assets or revenues. The following is a summary of the principal VIEs within the Sohu Group: Basic Information for Principal VIEs and Subsidiaries of Principal VIEs For Sohu • High Century High Century was incorporated in 2001. As of December 31, 2021, Dr. Charles Zhang and Wei Li held 80% and 20% interests, respectively, in this entity. • Heng Da Yi Tong Heng Da Yi Tong was incorporated in 2002. As of December 31, 2021, Dr. Charles Zhang and Wei Li held 80% and 20% interests, respectively, in this entity. • Sohu Internet Sohu Internet was incorporated in 2003. As of December 31, 2021, High Century held a 100% interest in this entity. • Donglin Donglin was incorporated in 2010. As of December 31, 2021, Sohu Internet held a 100% interest in this entity. • Tianjin Jinhu Tianjin Jinhu was incorporated in 2011. As of December 31, 2021, Xiufeng Deng and Xuemei Zhang each held a 50% interest in this entity. • Focus Interactive Focus Interactive was incorporated in July 2014. As of December 31, 2021, Heng Da Yi Tong held 100% of the equity interests in this entity . • Guangzhou Qianjun Guangzhou Qianjun was acquired in November 2014. As of December 31, 2021, Tianjin Jinhu held a 100% interest in this entity. For Changyou • Gamease Gamease was incorporated in 2007. As of December 31, 2021, High Century held a 100% interest in this entity. • Shanghai ICE Shanghai ICE was acquired by Changyou in 2010. As of December 31, 2021, Gamease held a 100% interest in this entity. • Guanyou Gamespace Guanyou Gamespace was incorporated in 2010. As of December 31, 2021, Beijing Changyou Star Digital Technology Co., Ltd (“Changyou Star”) held a 100% interest in this entity. Financial Information The following financial information of the Sohu Group’s consolidated VIEs (including subsidiaries of these VIEs) is included in the accompanying consolidated financial statements (in thousands): As of December 31, 2020 2021 ASSETS: Cash and cash equivalents $ 47,028 $ 32,513 Restricted cash 1,211 0 Short-term investments 153 0 Accounts receivable, net 47,234 36,027 Prepaid and other current assets 15,385 18,836 Intra-Group receivables due from the Company’s subsidiaries 506,659 647,330 Assets held for sale (current) 113,011 0 Total current assets 730,681 734,706 Fixed assets, net 295 427 Other non-current 69,284 86,744 Total assets $ 800,260 $ 821,877 LIABILITIES: Accounts payable $ 11,145 $ 12,325 Accrued liabilities 46,888 43,695 Receipts in advance and deferred revenue 43,076 45,844 Other current liabilities 37,148 24,026 Intra-Group payables due to the Company’s subsidiaries 350,599 462,487 Liabilities held for sale (current) 187,712 0 Total current liabilities 676,568 588,377 Long-term tax liabilities 14,134 14,465 Deferred tax liabilities 2,014 3,323 Other non-current liabilities 1,819 1,750 Total liabilities $ 694,535 $ 607,915 Year Ended December 31, 2019 2020 2021 Revenues: Third-party revenues $ 482,283 $ 552,980 $ 664,823 Intra-Group revenues 29,674 30,207 21,488 Total revenues 511,957 583,187 686,311 Cost of revenues: Third-party cost of revenues 101,044 93,333 81,725 Intra-Group cost of revenues 139,765 141,717 136,221 Total cost of revenues 240,809 235,050 217,946 Operating expenses: Third-party operating expenses 69,131 50,983 72,126 Intra-Group operating expenses 184,799 254,796 366,762 Total operating expenses 253,930 305,779 438,888 Net income from continuing operations 19,607 41,756 35,805 Net loss from discontinued operations (1,491 ) (82,329 ) (47,924 ) Year ended December 31, 2019 2020 2021 Cash flows from operating activities: Net cash provided by transactions with external parties $ 334,903 $ 459,263 $ 541,172 Net cash used in transactions with intra-Group entities (310,243 ) (379,649 ) (505,553 ) Net cash provided by continuing operating activities 24,660 79,614 35,619 Net cash used in discontinued operating activities (5,046 ) (13,244 ) (1,789 ) Net cash provided by operating activities 19,614 66,370 33,830 Cash flows from investing activities: Net cash used in transactions with external parties (13,272 ) (773 ) (23,887 ) Net cash used in transactions with intra-Group entities (40,426 ) (106,321 ) (140,671 ) Net cash used in continuing investing activities (53,698 ) (107,094 ) (164,558 ) Net cash provided by/(used in) discontinued investing activities (18,040 ) 7,797 12,116 Net cash used in investing activities (71,738 ) (99,297 ) (152,442 ) Cash flows from financing activities: Net cash provided by transactions with intra-Group entities 26,559 32,751 111,888 Net cash provided by continuing financing activities 26,559 32,751 111,888 Net cash provided by/(used in) discontinued financing activities 8,601 152 (9,131 ) Net cash provided by financing activities 35,160 32,903 102,757 Amounts previously reported for 2020 and 2019 have been revised, which revisions, in the opinion of management, are immaterial. The impact of the revisions was eliminated in consolidation. There is no impact on the previously reported consolidated financial position, results of operations or cash flows. The intra-Group payables of the Sohu Group’s consolidated VIEs for the year ended December 31, 2020 have been revised to reflect an adjustment with an increase of $17.8 million in current payables and a decrease of $17.8 million in non-current payables. The amounts of cash flow activities of the Sohu Group’s consolidated VIEs for the year ended December 31, 2020 have been revised to reflect an adjustment with an increase of $74.4 million in the cash provided by operating activities, an increase of $107.1 million in the cash used in investing activities, and an increase of $32.8 million in the cash provided by financing activities. The amounts of cash flow activities of the Sohu Group’s consolidated VIEs for the year ended December 31, 2019 have been revised to reflect an adjustment with an increase of $26.7 million in the cash provided by operating activities, an increase of $53.3 million in the cash used in investing activities, and an increase of $26.6 million in the cash provided by financing activities. Summary of Significant Agreements Currently in Effect Agreements between Subsidiaries, Consolidated VIEs and Nominee Shareholders Loan and share pledge agreement Loan and share pledge agreement Loan agreements and equity pledge agreements Exclusive equity interest purchase right agreements Business operation agreement Powers of Attorney Loan agreements and equity pledge agreements VIE-related VIE-related VIE-related Equity interest purchase right agreements Powers of attorney Business operation agreements Business Arrangements between Subsidiaries and Consolidated VIEs A significant portion of the Sohu Group’s operations are conducted through the VIEs that the Sohu Group consolidates, which generate a significant amount of the Sohu Group’s revenues. In order for the Sohu Group to be able to receive such revenues, and, if applicable, other assets, from the VIEs, it relies on payments made by the VIEs to the Sohu Group’s PRC subsidiaries pursuant to a series of service contracts between them in order for the VIEs to transfer such revenues or other assets to the Sohu Group. The following is a summary of the material service contracts currently in effect between the Sohu Group’s PRC subsidiaries and certain of the VIEs that the Sohu Group consolidates: Exclusive technology consulting and service agreement Exclusive technology consulting and service agreement Technology service agreement and is renewable at the request of Sohu Media. Technology support and utilization agreements Services and maintenance agreements Certain of the contractual arrangements described above between the VIEs and the related wholly-owned subsidiaries of the Sohu Group are silent regarding renewals. However, because the VIEs are controlled by the Sohu Group through powers of attorney granted to the Sohu Group by the shareholders of the VIEs, the contractual arrangements can be, and are expected to be, renewed at the subsidiaries’ election. VIE-Related It is possible that the Sohu Group’s operation of certain of its operations and businesses through VIEs could be found by PRC authorities to be in violation of PRC law and regulations prohibiting or restricting foreign ownership of companies that engage in such operations and businesses. If a finding were made by PRC authorities that the Sohu Group’s operation of certain of its operations and businesses through VIEs is prohibited, regulatory authorities with jurisdiction over the licensing and operation of such operations and businesses would have broad discretion in dealing with such a violation, including levying fines, confiscating the Sohu Group’s income, revoking the business or operating licenses of the affected businesses, requiring the Sohu Group to restructure its ownership structure or operations, or requiring the Sohu Group to discontinue all or any portion of its operations. Any of these actions could cause significant disruption to the Sohu Group’s business operations, and have a severe adverse impact on the Sohu Group’s cash flows, financial position, and operating performance. In addition, it is possible that the contracts among the Sohu Group, the Sohu Group’s consolidated VIEs and the shareholders of such VIEs would not be enforceable in China if PRC government authorities or courts were to find that such contracts contravene PRC law and regulations or are otherwise not enforceable for public policy reasons. As of the date of this report, the validity and enforceability of the contracts among the Sogou Group, the Sohu Group’s consolidated VIEs and the shareholders of such VIEs, and, to the knowledge of the Company, of any similar contracts entered into by other PRC-based The Sohu Group’s operations and businesses rely on the operations and businesses of its VIEs, which hold certain recognized and unrecognized revenue-producing assets. The recognized revenue-producing assets include goodwill and intangible assets acquired through business acquisitions. Goodwill primarily represents the expected synergies from combining an acquired business with the Sohu Group. Intangible assets acquired through business acquisitions mainly consist of customer relationships, non-compete benefit from assets held by these VIEs. |
Sohu.com Limited Shareholders'
Sohu.com Limited Shareholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
SOHU.COM LIMITED SHAREHOLDERS' EQUITY [Abstract] | |
Sohu.com Limited Shareholders' Equity | 18. SOHU.COM LIMITED SHAREHOLDERS’ EQUITY Summary of the Company’s outstanding shares (in thousands): Number of Outstanding Shares 2019 2020 2021 Balance, beginning of year 39,229 39,269 39,306 Issuances: 40 37 44 Repurchases: 0 0 (1,129 ) Balance, end of year 39,269 39,306 38,221 Treasury Stock Treasury stock consists of the Company’s ordinary shares, including ordinary shares represented by ADSs, repurchased by the Company or that it is obligated to repurchase as of the reporting date. Ordinary shares included in treasury stock are no longer deemed to be outstanding. Treasury stock is accounted for under the cost method. On November 13, 2021, the Sohu Board authorized a share repurchase program of up to $100 million of outstanding Sohu ADSs over a twelve-month Share Incentive Plans Sohu (excluding Sohu Video), Changyou, and Sohu Video have incentive plans for the granting of share-based awards, including options and restricted share units, to their directors, management and other key employees. 1) Sohu.com Limited Share-based Awards Sohu’s 2018 Share Incentive Plan On July 2, 2010, Sohu.com Inc.’s adopted the 2010 Stock Incentive Plan, which provides for the issuance of up to shares of Sohu.com Inc.’s common stock, including stock issued pursuant to the vesting and settlement of restricted stock units and pursuant to the exercise of stock options. The maximum term of any share-based award granted under the Sohu 2010 Stock Incentive Plan is from the grant date. On April 2, 2018, Sohu.com Limited adopted the Sohu 2018 Share Incentive Plan, which provides for the issuance of up 1,148,565 ordinary shares of Sohu.com Limited. The Sohu 2018 Share Incentive Plan will expire in April 2028 Upon the dissolution of Sohu.com Inc. on May 31, 2018, Sohu.com Limited assumed all then existing obligations of Sohu.com Inc. with respect to equity incentive awards that had been granted under the Sohu 2010 Stock Incentive Plan and then remained outstanding, and such awards were converted into the right to receive upon exercise or settlement Sohu.com Limited’s ordinary shares under the Sohu 2018 Share Incentive Plan rather than shares of the common stock of Sohu.com Inc., subject to the other terms of such outstanding awards. As of December 31, 2021, 214,405 shares were available for grant under the Sohu 2018 Share Incentive Plan. i) Summary of Share Option Activity In February 2015, May 2016, September 2017 and November 2017, the Sohu Board approved contractual grants to members of the Company’s management and key employees of options for the purchase of an aggregate of 1,068,000, 13,000, 32,000 and 6,000 shares of common stock of Sohu.com Inc., respectively, under the Sohu 2010 Stock Incentive Plan, with nominal exercise prices of $0.001, all of which were converted, on May 31, 2018, into the right to receive upon exercise Sohu.com Limited’s ordinary shares under the Sohu 2018 Share Incentive Plan. In February 2019, July 2019, September 2020 and September 2021 , the Sohu Board approved contractual grants to members of the Company’s management and key employees of options for the purchase of an aggregate of , , and 5,000 $ . These share options vest and become exercisable in over a period of , with each installment vesting upon the satisfaction of a service period requirement and certain subjective performance targets. These share options are substantially similar to restricted share units except for the nominal exercise price, which would be zero for restricted share units. Under ASC 718-10-25 ASC 718-10-55 re-measured As of December 31, 2021, 927,788 of these options had been granted and had become vested on their respective vesting dates, as a mutual understanding of the subjective performance targets was reached between the Company and the recipients, the targets had been satisfied, and the service period requirements had been fulfilled. The cumulative share-based compensation expense for these granted options has been adjusted and fixed based on their aggregate fair values, at their respective grant dates, of $28.5 million. A summary of option activity under the Sohu 2018 Share Incentive Plan as of and for the year ended December 31, 2021 is presented below: Weighted Number Weighted Average Aggregate Of Average Remaining Intrinsic Shares Exercise Contractual Value (1) Options (in thousands) Price Life (Years) (in thousands) Outstanding as of January 1, 2021 197 $ 0.001 $ Granted 113 0.001 Exercised (39 ) 0.001 Forfeited or expired 0 Outstanding as of December 31, 2021 271 0.001 5.87 4,412 Vested as of December 31, 2021 271 0.001 5.87 4,412 Exercisable as of December 31, 2021 271 0.001 5.87 4,412 Note (1): The aggregated intrinsic value in the preceding table represents the difference between Sohu’s closing ADS price of $16.28 on December 31, 2021 and the nominal exercise price of the options. For the years ended December 31, 2021, 2020 and 2019, total share-based compensation expense recognized for these options was $1.8 million, $2.6 million and negative $1.9 million, respectively. The negative amounts resulted from re-measured 2) Changyou.com Limited Share-based Awards Changyou 2014 Share Incentive Plan On June 27, 2014, Changyou reserved 2,000,000 of its Class A ordinary shares under the Changyou.com Limited 2014 Share Incentive Plan (the “Changyou 2014 Share Incentive Plan”) for the purpose of making share incentive awards to certain members of its management and key employees. On November 2, 2014, the Changyou Board approved an increase in the number of Class A ordinary shares reserved under the Changyou 2014 Share Incentive Plan from 2,000,000 to 6,000,000. The maximum term of any share right granted under the Changyou 2014 Share Incentive Plan is 10 years from the grant date. The Changyou 2014 Share Incentive Plan will terminate in June 2024 1 i) Summary of Share Option Activity On November 2, 2014, the Changyou Board approved the contractual grant of an aggregate of Class A restricted share units to certain members of its management and certain other employees. On February 16, 2015, the Changyou Board approved the conversion of the Changyou Board the Changyou Board approved the Changyou Board approved per-share re-measurement Under ASC 718-10-25 ASC 718-10-55 re-measured Prior to the completion of Changyou Merger, to determine the fair value of these Changyou share options, the public market price of the underlying Changyou Class A ordinary shares at each reporting date was used and a binomial valuation model was applied. As of December 31, 2021, 4,488,500 of these Changyou share options had been granted and had become vested on their respective vesting dates, as a mutual understanding of the subjective performance targets had been reached between Changyou and the recipients, the targets had been satisfied, and the service period requirements had been fulfilled. The cumulative share-based compensation expense of $4.1 million for these granted share options was adjusted and fixed based on the aggregate amounts of the fair values of these granted share options at their respective grant dates for periods before the Changyou Plans’ Modification, and at a price of $ 5.39 For the years ended December 31, 2021, 2020 and 2019, total share-based compensation expense recognized for share options under the Changyou 2014 Share Incentive Plan was $3.9 million, $7.7 million and negative $1.9 million, respectively. For the years ended December 31, 2021, 2020 and 2019, the total fair values of these Changyou share options vested on their respective vesting dates were $4.1 million, $4.2 million and $1.0 million, respectively. For the years ended December 31, 2021, 2020 and 2019, the total intrinsic value of share options exercised was nil, $0.1 million and $6.6 million, respectively. Changyou 2019 Share Incentive Plan On August 3, 2019, Changyou adopted and reserved for issuance 3,000,000 Class A ordinary shares of Changyou the Changyou Board approved On February 2, 2021, the Changyou Board approved the grant, effective for vesting commencement purposes as of February 2 Changyou’s management and certain other employees of options for the purchase of an aggregate of 600,000 Class A ordinary shares at an exercise price of $0.01. a re-measurement awards are obligations Under ASC 718-10-25 ASC 718-10-55 re-measured Prior to the completion of the Changyou Merger, to determine the fair value of Changyou share options, the public market price of the underlying Changyou Class A ordinary shares at each reporting date was used and a binomial valuation model was applied. As of December 31, 2021, 954,500 of the share options granted under the Changyou 2019 Share Incentive Plan had vested. The cumulative share-based compensation expense of $2.6 million for the granted share options was adjusted and fixed based on a price of $5.39 per Changyou Class A ordinary share after the Changyou Plans’ Modification. For the years ended December 31, 2021 and 2020, total share-based compensation expense recognized for these share options under the Changyou 2019 Share Incentive Plan was $3.9 million and $4.8 million, respectively. For the years ended December 31, 2021 and 2020 , the total value of these Changyou share options vested on their respective vesting dates was $2.6 million and $2.6 million, respectively . 3) Sohu Video Share-based Awards On January 4, 2012, Sohu Video, the holding entity of Sohu’s video division, adopted the Sohu Video Share Incentive Plan , ordinary shares of Sohu Video to management and key employees of the video division and to Sohu management. The maximum term of any share - based the grant date. The Sohu Video Share Incentive Plan expired on January 4, 2022, and is no longer available for granting new share-based awards. As of December 31, 2021, grants of options for the purchase of 16,368,200 ordinary shares of Sohu Video had been contractually made and were subject to vesting in four equal installments, with each installment vesting upon a service period requirement being met, as well as Sohu Video’s achievement of performance targets for the corresponding period. As of December 31, 2021, options for the purchase of 4,972,800 Sohu Video ordinary shares were vested. For purposes of ASC 718-10-25, 718-10-55, those re-measured , which the Group will continue to do until the grant date is established. For the years ended December 31, 2021, 2020 and 2019, total share-based compensation expense recognized for vested Sohu Video options under the Sohu Video Share Incentive Plan was negative $ The fair value as of December 31, 2021 of the Sohu Video options contractually granted to management and key employees of Sohu Video and to Sohu management was estimated on the reporting date using the binomial valuation model, with the following assumptions used: Assumptions Adopted 2020 2021 Average risk-free interest rate 1.11 % 0.59 % Exercise multiple 2.8 2.8 Expected forfeiture rate (post-vesting) 5 % 2 % Weighted average expected option life 1.0 0 Volatility rate 57.3 % 97.3 % Dividend yield 0 0 Fair value 0.21 0 |
Noncontrolling Interest
Noncontrolling Interest | 12 Months Ended |
Dec. 31, 2021 | |
NONCONTROLLING INTEREST [Abstract] | |
Noncontrolling Interest | 19. NONCONTROLLING INTEREST Prior to the completion of the Changyou Merger on April 17, 2020, the noncontrolling interests in the Sohu Group’s consolidated financial statements primarily consisted of noncontrolling interests for Changyou and Sogou and, following the completion of the Changyou Merger and prior to the completion of the Tencent/Sohu Sogou Share Purchase, consisted of noncontrolling interests for Sogou. Noncontrolling Interest in the Consolidated Balance Sheets As of December 31, 2021 and 2020, noncontrolling interest in the consolidated balance sheets was $ million million As of December 31, 2020 2021 Changyou $ 1,321 $ 1,318 Sogou 683,291 0 Total $ 684,612 $ 1,318 Noncontrolling Interest of Changyou As a result of the completion of Sohu’s acquisition of the noncontrolling interests in Changyou on April 17, 2020, Sohu holds 100% of the combined total of Changyou’s outstanding ordinary shares, and the noncontrolling interests recognized in the Sohu Group’s consolidated balance sheets only reflected economic interests in Changyou’s subsidiaries held by shareholders other than Changyou. Noncontrolling interest of Changyou of $1.3 million was recognized in the Sohu Group’s consolidated balance sheets as of both December 31, 2021 and 2020. Noncontrolling Interest of Sogou As of December 31, 2021 and 2020, noncontrolling interest of Sogou of nil and $683.3 million, respectively, was recognized in the Sohu Group’s consolidated balance sheets, representing an economic interest of nil paid-in As a result of the completion of the Tencent/Sohu Sogou Share Purchase on September 23, 2021, the Company no longer has any ownership interest in Sogou and has ceased consolidating Sogou in the Company’s consolidated financial statements. Noncontrolling Interest in the Consolidated Statements of Comprehensive Income/(Loss) For the years ended December 31, 2021, 2020 and 2019, respectively, the Sohu Group had net income of $6.4 million, net income of $42.2 million and net income of $105.9 million, respectively, attributable to the noncontrolling interest in the consolidated statements of comprehensive income/(loss). Year Ended December 31, 2019 2020 2021 Changyou $ 46,990 $ 18,448 $ (3 ) Sogou 58,955 (60,656 ) 6,451 Total $ 105,945 $ (42,208 ) $ 6,448 Year Ended December 31, 2019 2020 2021 Net income /(loss) from continuing operations attributable to noncontrolling shareholders $ 58,223 $ 18,448 $ (3 ) Net income/(loss) from discontinued operations attributable to noncontrolling 47,722 (60,656 ) 6,451 Net income/(loss) attributable to noncontrolling interest shareholders $ 105,945 $ (42,208 ) $ 6,448 Noncontrolling Interest of Changyou For the years ended December 31, 2021, 2020 and 2019, respectively, a net loss of $3,000 , of net income of $47.0 million, respectively, attributable to the noncontrolling interest of Changyou was recognized in the Sohu Group’s consolidated statements of comprehensive income/(loss), representing nil, nil and 33%, respectively, of the economic interest in Changyou attributable to shareholders other than Sohu. Noncontrolling Interest of Sogou (Discontinued) For the years ended December 31, 2021, 2020 and 2019, respectively, net income o f million, a net loss of $ million and net income of $ million, respectively, attributable to the noncontrolling interest of Sogou was recognized in the Sohu Group’s consolidated statements of comprehensive income/(loss), representing Sogou’s net income/(loss) attributable to shareholders other than Sohu. |
Net Income_(Loss) per Share
Net Income/(Loss) per Share | 12 Months Ended |
Dec. 31, 2021 | |
NET INCOME/(LOSS) PER SHARE [Abstract] | |
Net Income/(Loss) per Share | 20. NET INCOME/(LOSS) PER SHARE Basic net income/(loss) per share is computed using the weighted average number of ordinary shares outstanding during the period. Diluted net income/(loss) per share is computed using the weighted average number of ordinary shares and, if dilutive, potential ordinary shares outstanding during the period. Potential ordinary shares comprise shares issuable upon the exercise or settlement of share-based awards using the treasury stock method. The dilutive effect of share-based awards with performance requirements is not considered before the performance targets are actually met. The computation of diluted net income/(loss) per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect (i.e. an increase in earnings per share amounts or a decrease in loss per share amounts) on net income/(loss) per share. Additionally, for purposes of calculating the numerator of diluted net income/(loss) per share, the net income/(loss) attributable to Sohu is calculated as discussed below. The adjustment will not be made if there is an anti-dilutive effect. Changyou’s Net Income/(Loss) Attributable to Sohu Prior to the completion of the Changyou Merger on April 17, 2020, Changyou’s net income/(loss) attributable to Sohu was determined using the percentage that the weighted average number of Changyou shares held by Sohu represented of the weighted average number of Changyou ordinary shares and shares issuable upon the exercise or settlement of share-based awards under the treasury stock method, and not by using the percentage held by Sohu of the total economic interest in Changyou, which was used for the calculation of basic net income per share. After the completion of the Changyou Merger, Sohu holds 100% of the combined total of Changyou’s outstanding ordinary shares, so Changyou’s net income/(loss) is wholly attributable to Sohu. After the completion of the Changyou Merger, the Sohu Board approved the Changyou Plans’ Modification, pursuant to which, among other things, a portion of the share options previously granted under the Changyou 2014 Share Incentive Plan that became vested after the completion of the Changyou Merger were settled by Changyou at a fixed price of $5.39 per Changyou Class A ordinary share, which equals the Changyou Merger consideration of $5.40 per Changyou Class A ordinary share minus the per-share re-measurement share. In the calculation of Sohu’s diluted net income/(loss) per share, before the Sohu Board’s approval of the Changyou Plans’ Modification, a dilutive effect should be assumed. All of Changyou’s existing unvested restricted share units and share options, and vested restricted share units and share options that have not yet been settled or exercised, are treated as vested and settled by Changyou under the treasury stock method, causing the percentage of the weighted average number of shares held by Sohu in Changyou to decrease. As a result, Changyou’s net income/(loss) attributable to Sohu on a diluted basis decreased accordingly. The effect of this calculation is presented as “incremental dilution from Changyou” in the table below. Assuming an anti-dilutive effect, all of these Changyou restricted share units and share options are excluded from the calculation of Sohu’s diluted net income/(loss) per share. As a result, Changyou’s net income/(loss) attributable to Sohu on a diluted basis equals the number used for the calculation of Sohu’s basic net income/(loss) per share. After the Changyou Plans’ Modification, all of Changyou’s previously granted share-based awards were reclassified as obligation-based awards. Accordingly, all of those Changyou awards are excluded from the calculation of Sohu’s diluted net income/(loss) per share. Changyou’s net income/(loss) attributable to Sohu on a diluted basis equals the number used for the calculation of Sohu’s basic net income/(loss) per share. There have been no dilutive effects resulting from Changyou’s existing unvested share options. Sogou’s Net Income/(Loss) Attributable to Sohu (Discontinued) Prior to the completion of the Tencent/Sohu Sogou Share Purchase on September 23, 2021, Sogou’s net income/(loss) attributable to Sohu was determined using the percentage that the weighted average number of Sogou shares held by Sohu represented of the weighted average number of Sogou ordinary shares and shares issuable upon the exercise or settlement of share-based awards under the treasury stock method, and not by using the percentage held by Sohu of the total economic interest in Sogou, which is used for the calculation of basic net income per share. Sogou’s net income/(loss) attributable to Sohu is reflected as discontinued operations in the Sohu Group’s consolidated statements of comprehensive income. In the calculation of Sohu’s diluted net income/(loss) per share, assuming a dilutive effect, the percentage of Sohu’s shareholding in Sogou was calculated by treating convertible preferred shares issued by Sogou as having been converted at the beginning of the period and unvested Sogou share options where the performance targets had been achieved, as well as vested but unexercised Sogou share options, as having been exercised during the period. The dilutive effect of share-based awards with a performance requirement was not considered before the performance targets were actually met. The effect of this calculation is presented as “incremental dilution from Sogou” in the table below. Assuming an anti-dilutive effect, all of these Sogou shares and share options are excluded from the calculation of Sohu’s diluted income/(loss) per share. As a result, Sogou’s net income/(loss) attributable to Sohu on a diluted basis equals the number used for the calculation of Sohu’s basic net income/(loss) per share. As a result of the completion of the Tencent/Sohu Sogou Share Purchase, the Sohu Group no longer has any ownership interest in Sogou, and Sogou is not included in the Sohu Group’s consolidated financial statements. The following table presents the calculation of the Sohu Group’s basic and diluted net loss per share (in thousands, except per share data). Year Ended December 31, 2019 2020 2021 Numerator: Net income/(loss) from continuing operations attributable to Sohu.com Limited, $ (156,722 ) $ (54,975 ) $ 69,274 Net income/(loss) from discontinued operations attributable to Sohu.com Limited, 7,386 (31,137 ) 858,451 Net income/(loss) attributable to Sohu.com Limited, basic (149,336 ) (86,112 ) 927,725 Effect of dilutive securities: Incremental dilution from Changyou (507 ) (392 ) 0 Incremental dilution from Sogou (606 ) 0 (20 ) Net income/(loss) from continuing operations attributable to Sohu.com Limited, (157,282 ) (55,365 ) 69,274 Net income/(loss) from discontinued operations attributable to Sohu.com Limited, 6,833 (31,139 ) 858,431 Net income/(loss) attributable to Sohu.com Limited, diluted $ (150,449 ) $ (86,504 ) $ 927,705 Denominator: Weighted average basic ordinary shares outstanding 39,249 39,452 39,501 Effect of dilutive securities: Share options and restricted share units 0 0 0 Weighted average diluted ordinary shares outstanding $ 39,249 $ 39,452 $ 39,501 Basic net income/(loss) per share attributable to Sohu.com Limited Continuing operations $ (3.99 ) $ (1.39 ) $ 1.75 Discontinued operations 0.19 (0.79 ) 21.74 Net income/(loss) per share (3.80 ) (2.18 ) 23.49 Diluted net income/(loss) per share attributable to Sohu.com Limited Continuing operations $ (4.01 ) $ (1.40 ) $ 1.75 Discontinued operations 0.18 (0.79 ) 21.74 Net income/(loss) per share (3.83 ) (2.19 ) 23.49 |
China Contribution Plan
China Contribution Plan | 12 Months Ended |
Dec. 31, 2021 | |
Retirement Benefits [Abstract] | |
China Contribution Plan | 21. CHINA CONTRIBUTION PLAN The Sohu Group’s subsidiaries and consolidated VIEs in China participate in a government-mandated multi-employer defined contribution plan pursuant to which certain retirement, medical and other welfare benefits are provided to employees. Chinese labor regulations require the Group’s subsidiaries and consolidated VIEs to pay to the local labor bureau a monthly contribution at a stated contribution rate based on the monthly compensation of qualified employees. The relevant local labor bureau is responsible for meeting all retirement benefit obligations; the Group’s China-based subsidiaries and consolidated VIEs have no further commitments beyond their monthly contributions. For the years ended December 31, 2021, 2020 and 2019, the Group’s China based subsidiaries and consolidated VIEs contributed a total of $83.1 million, $59.2 million and $79.2 million, respectively, to these funds. |
Profit Appropriation
Profit Appropriation | 12 Months Ended |
Dec. 31, 2021 | |
Profit Appropriation [Abstract] | |
Profit Appropriation | 22. PROFIT APPROPRIATION The Sohu Group’s China-based subsidiaries and VIEs are required to make appropriations to certain non-distributable On March 15, 2019, the Standing Committee of the National People’s Congress of the PRC issued the Law of the People’s Republic of China on Foreign Investment Law of the People’s Republic of China on Foreign Investment Enterprises Implementing Regulations of the Foreign Investment Law., Under after-tax “after-tax-profit non-distributable after-tax-profit after-tax-profit non-distributable Pursuant to the Company Law, those of the Group’s China-based subsidiaries that are considered under PRC law to be domestically funded enterprises, as well as the Group’s VIEs, are required to make appropriations from their after-tax-profit non-distributable after-tax-profit Upon certain regulatory approvals and subject to certain limitations, the general reserve fund and the statutory surplus fund can be used to offset prior year losses, if any, and can be converted into paid-in capital of the applicable entity. For the years ended December 31, 2021, 2020 and 2019, the total amount of profits contributed to these funds by the Group was $0.1 million, $0.4 million and $10.4 million, respectively. As of December 31, 2021 and 2020, the total amount of profits contributed to these funds by the Group was $57.2 million and $81.1 million, respectively. As a result of these and other restrictions under PRC laws and regulations, the Group’s China-based subsidiaries and VIEs are restricted in their ability to transfer a portion of their net assets in the form of non-distributable |
Concentration Risks
Concentration Risks | 12 Months Ended |
Dec. 31, 2021 | |
CONCENTRATION RISKS [Abstract] | |
Concentration Risks | 23. CONCENTRATION RISKS Because its operations are substantially conducted in the PRC, the Sohu Group is subject to PRC-related Operation Risk For the years ended December 31, 2021, 2020 and 2019, there were no revenues from customers that individually represent greater than 10% of the total online advertising revenues. For the year ended December 31, 2021, revenues from TLBB PC Financial instruments that potentially subject the Sohu Group to concentration risks consist primarily of cash and cash equivalents, short-term investments and long-term time deposits. Cash and cash equivalents in Sohu Group are mainly denominated in RMB and in U.S. dollars. Short-term investments and long-term time deposits are denominated in RMB. The Group may experience economic losses and negative impacts on earnings and equity as a result of fluctuations in the exchange rate between the U.S. dollar and the RMB. Moreover, the Chinese government imposes controls on the convertibility of RMB into foreign currencies and, in certain cases, the remittance of currency out of the PRC. The Group may experience difficulties in completing the administrative procedures necessary to obtain and remit foreign currency. Credit Risk As of December 31, 2021, approximately 61% of the Sohu Group’s cash and cash equivalents, short-term investments , and long-term time deposits were held in 16 financial institutions in Mainland China. The remaining cash and cash equivalents and short-term investments were held prima As of December 31, 2020, approximately 95% of the Sohu Group’s cash and cash equivalents and short-term investments were held in 22 financial institutions in Mainland China. The remaining cash and cash equivalents and short-term investments were held primarily in financial institutions in Hong Kong and Macao. The Sohu Group holds its cash and bank deposits at Chinese financial institutions that are among the largest and most respected in the PRC and at international financial institutions with high ratings from internationally-recognized rating agencies. The management chooses these institutions because of their reputations and track records for stability, and their known large cash reserves, and management periodically reviews these institutions’ reputations, track records, and reported reserves. Management expects that any additional institutions that the Sohu Group uses for its cash and bank deposits will be chosen with similar criteria for soundness. As a further means of managing its credit risk, the Sohu Group holds its cash and bank deposits in a number of different financial institutions. As of December 31, 2021 and 2020, the Sohu Group held its cash and bank deposits in different financial institutions and held no more than approximately 35% and 59%, respectively, of its total cash at any single institution. Under PRC law, it is generally required that a commercial bank in the PRC that holds third party cash deposits protect the depositors’ rights over and interests in their deposited money; PRC banks are subject to a series of risk control regulatory standards; and PRC bank regulatory authorities are empowered to take over the operation and management of any PRC bank that faces a material credit crisis. For the credit risk related to accounts receivable, the Sohu Group performs ongoing credit evaluations of its customers and, if necessary, maintains reserves for potential credit losses. Historically, such losses have been within management’s expectations. |
Restricted Net Assets
Restricted Net Assets | 12 Months Ended |
Dec. 31, 2021 | |
RESTRICTED NET ASSETS [Abstract] | |
Restricted Net Assets | 24. RESTRICTED NET ASSETS Relevant PRC law and regulations permit payment of dividends by PRC-based PRC-based after-tax PRC-based PRC-based billion. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | |
Accounting Standards | Accounting Standards The consolidated financial statements have been prepared in accordance with United States of America generally accepted accounting principles (“U.S. GAAP”) to reflect the financial position and results of operations of the Sohu Group. |
Use of Estimates | Use of Estimates The preparation of these financial statements requires the Sohu Group to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, costs and expenses, and related disclosures. On an on-going basis, the Group evaluates its estimates based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Identified below are the accounting policies that reflect the Group’s most significant estimates and judgments, and those that the Group believes are the most critical to fully understanding and evaluating its consolidated financial statements. |
Basis of Consolidation and Recognition of Noncontrolling Interest | Basis of Consolidation and Recognition of Noncontrolling Interest The Sohu Group’s consolidated financial statements include the accounts of the Company and its subsidiaries and consolidated VIEs. All intra-Group transactions are eliminated except for revenues and expenses arising from intra-group transactions that are considered to continue after the disposal of the discontinued operations. In the consolidated statements of comprehensive income, results from discontinued operations are reported separately from income and expenses from continuing operations and prior periods are presented on a comparative basis. Discontinued operations A component of a reporting entity or a group of components of a reporting entity that are disposed of or meet the criteria to be classified as held for sale should be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. Discontinued operations are reported when a component of an entity comprising operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity is classified as held for disposal or has been disposed of, if the component either (1) represents a strategic shift or (2) has a major impact on an entity’s financial results and operations. In the statement of financial position, the assets and liabilities of the discontinued operation are presented separately in the asset and liability sections, respectively, of the statement of financial position and prior periods are presented on a comparative basis. In the consolidated statements of comprehensive income, results from discontinued operations are reported separately from the income and expenses from continuing operations and prior periods are presented on a comparative basis. Cash flows for discontinued operations are presented separately in the consolidated statements of cash flows. In order to present the financial effects of the continuing operations and discontinued operations, revenues and expenses arising from intra-group transactions are eliminated except for those revenues and expenses that are considered to continue after the disposal of the discontinued operations. VIE Consolidation The VIEs through which the Sohu Group conducts a substantial portion of its business operations are wholly or partially owned by certain employees of the Sohu Group as nominee shareholders. For the VIEs that the Sohu Group consolidates, management made evaluations of the relationships between the Sohu Group and the VIEs and the economic benefit flow of contractual arrangements with the VIEs. In connection with such evaluation, management also took into account the fact that, as a result of such contractual arrangements, the Sohu Group controls the shareholders’ voting interests in these VIEs. As a result of such evaluation, management concluded that for accounting purposes the Sohu Group is the primary beneficiary of the VIEs that it consolidates. Noncontrolling Interest Recognition Noncontrolling interests are recognized to reflect the portion of the equity of subsidiaries and VIEs which is not attributable, directly or indirectly, to the controlling shareholders. Prior to the completion of the Changyou Merger on April 17, 2020, the noncontrolling interests in the Sohu Group’s consolidated financial statements primarily consisted of noncontrolling interests for Changyou and Sogou and, following the completion of the Changyou Merger and prior to the completion of the Tencent/Sohu Sogou Share Purchase, consisted of noncontrolling interests for Sogou. Noncontrolling Interest for Changyou Prior to the completion of the Changyou Merger on April 17, 2020, the Company consolidated Changyou in its consolidated financial statements, and also recognized noncontrolling interest reflecting the economic interest in Changyou held by Changyou noncontrolling shareholders. Changyou’s net income/(loss) attributable to the Changyou noncontrolling shareholders is recorded as noncontrolling interest in the Sohu Group’s consolidated statements of comprehensive income, based on the noncontrolling shareholders’ share of the economic interest in Changyou. Changyou’s cumulative results of operations attributable to the Changyou noncontrolling shareholders, along with changes in shareholders’ equity, adjustment for share-based compensation expense in relation to those share-based awards which are unvested and vested but not yet settled and adjustment for changes in the Company’s ownership in Changyou, are recorded as noncontrolling interest in the Sohu Group’s consolidated balance sheets. As a result of the completion of Sohu’s acquisition of the noncontrolling interests in Changyou on April 17, 2020, the Company beneficially holds and control of the total voting power in Changyou. The Company consolidates Changyou in its consolidated financial statements, and no noncontrolling interests are recognized except for noncontrolling interests reflecting economic interests in Changyou’s subsidiaries held by shareholders other than Changyou. Noncontrolling Interest for Sogou Prior to the completion of the Tencent/Sohu Sogou Share Purchase on September 23, 2021, as Sogou’s controlling shareholder, the Company consolidated Sogou in its consolidated financial statements as discontinued operations, and recognized noncontrolling interest reflecting economic interests in Sogou held by Sogou noncontrolling shareholders. Sogou’s net income/(loss) attributable to the Sogou noncontrolling interest shareholders is recorded as net income/(loss) from discontinued operations attributable to the noncontrolling interest shareholders in the Company’s consolidated statements of comprehensive income. Sogou’s cumulative results of operations attributable to the Sogou noncontrolling shareholders, based on their share of the economic interest in Sogou, along with changes in shareholders’ equity and adjustment for share-based compensation expense in relation to share-based awards that were unvested and vested but not yet settled and adjustment for changes in the Company’s ownership in Sogou, were recorded as noncontrolling interest in the Sohu Group’s consolidated balance sheets. Segment Reporting The Sohu Group’s segments are business units that offer different services and are reviewed separately by the chief operating decision maker (the “CODM”) in deciding how to allocate resources and in assessing performance. The Group’s CODM is the Company’s Chief Executive Officer. |
Revenue Recognition | Revenue Recognition Under ASC 606, revenues are recognized when control of the promised goods or services is transferred to the Group’s customers, in an amount that reflects the consideration the Group expects to be entitled to in exchange for those goods or services. The recognition of revenues involves certain management judgments, including estimated lives of virtual items purchased by game players, the estimation of the fair value of an advertising-for-advertising licensed-out The following table presents the Group’s revenues disaggregated by products and services: Year Ended December 31, 2019 (in thousands) Sohu Changyou Total Brand advertising: Sohu Media Portal $ 94,692 0 94,692 Sohu Video 34,529 0 34,529 Focus 32,120 0 32,120 17173.com Website 0 13,715 13,715 Online games: PC games 0 267,752 267,752 Mobile games 0 172,718 172,718 Other games 0 432 432 Others 57,082 763 57,845 Total $ 218,423 455,380 673,803 Year Ended December 31, 2020 (in thousands) Sohu Changyou Total Brand advertising: Sohu Media Portal $ 86,293 0 86,293 Sohu Video 25,312 0 25,312 Focus 23,281 0 23,281 17173.com Website 0 11,640 11,640 Online games: PC games 0 353,737 353,737 Mobile games 0 182,947 182,947 Others 66,658 22 66,680 Total $ 201,544 548,346 749,890 Year Ended Sohu Changyou Total Brand advertising: Sohu Media Portal $ 75,408 0 75,408 Sohu Video 26,803 0 26,803 Focus 22,013 0 22,013 17173.com Website 0 10,743 10,743 Online games: PC games 0 469,332 469,332 Mobile games 0 168,893 168,893 Others 62,382 2 62,384 Total $ 186,606 648,970 835,576 Brand Advertising Revenues Brand advertising revenues are generated from brand advertising services. Certain customers may receive sales rebates, which are accounted for as variable consideration. The Group estimates the annual expected revenue volume from each agent with reference to its historical results. Sales rebates will reduce revenues recognized. The Group recognizes revenue for the amount of fees it receives from its advertisers, after deducting sales rebates and net of value-added tax (“VAT”). Brand Advertising Revenues Revenue Recognition of Multiple Performance Obligations The Group’s contracts with customers may include multiple performance obligations. For such arrangements, the Group allocates revenues to each performance obligation based on its relative standalone selling price. The Group generally determines the standalone selling price of each distinct performance obligation based on the prices charged to customers when sold on a standalone basis. Where a standalone selling price is not directly observable, the Group generally estimates the selling price based on the prices at which performance obligations of a similar nature and geography are charged to customers. Most of such contracts have all performance obligations completed within the same quarter. Pricing Model Through mobile devices and PCs, the Group provides advertisement placements to its advertisers on different Internet platforms and in different formats. Currently the Group has three main types of pricing models, consisting of the Fixed Price model, the Cost Per Impression (“CPM”) model and the Cost Per Click (“CPC”) model. (i) Fixed Price model Under the Fixed Price model, a contract is signed to establish a fixed price for the advertising services to be provided. Given that the advertisers benefit from displayed advertisements evenly over the period the advertisements are displayed, the Group recognizes revenue on a straight-line basis over the period of display, provided all revenue recognition criteria have been met. (ii) CPM model Under the CPM model, the unit price for each qualifying display is fixed and stated in the contract with the advertiser. A qualifying display is defined as the appearance of an advertisement, where the advertisement meets criteria specified in the contract. Given that the fees are priced consistently throughout the contract and the unit prices are fixed in accordance with the Group’s pricing practices for similar advertisers, the Group recognizes revenue based on the fixed unit prices and the number of qualifying displays upon their occurrence, provided all revenue recognition criteria have been met. (iii) CPC model Under the CPC model, there is no fixed price for advertising services stated in the contract with the advertiser and the unit price for each click is auction-based. The Group charges advertisers on a per-click Online Game Revenues Changyou’s online game revenues are generated primarily from its self-operated and licensed-out in-game Changyou is the principal of its self-operated games. Changyou hosts the games on its own servers and is responsible for the sale and marketing of the games as well as customer service. Accordingly, revenues are recorded gross of revenue sharing-payments to third-party developers and/or mobile APP stores, but net of VAT and discounts to game card distributors where applicable. Changyou obtains revenues from the sale of in-game PC Games Proceeds from Changyou’s self-operated PC games are collected from players and third-party game card distributors through sales of Changyou’s game points on its online payment platform and prepaid game cards. Changyou’s self-operated PC games are either developed in house or licensed from third-party developers. For licensed PC games, Changyou remits a pre-agreed Mobile Games Self-operated Mobile Games For self-operated mobile games, Changyou sells game points to its game players via third-party mobile APP stores. The mobile APP stores in turn pay Changyou proceeds after deducting their share of pre-agreed Changyou’s self-operated mobile games are either developed in house or licensed from or jointly developed with third-party developers. For licensed and jointly-developed mobile games, Changyou remits a pre-agreed Licensed Out Mobile Games Changyou also authorizes third parties to operate its mobile games. Licensed out games include mobile games developed in house, such as Changyou’s mobile game Legacy TLBB Mobile, and mobile games jointly developed with third-party developers. Changyou receives monthly revenue-based royalty payments from the third-party licensee operators. Changyou receives additional up-front Other Revenues Sohu Other revenues attributable to Sohu consist primarily of revenues from paid subscription services, interactive broadcasting services, and revenue sharing from other platforms. Changyou Other revenues attributable to Changyou are primarily from IVAS. Revenues generated from Changyou’s IVAS were derived primarily from software applications for PCs and mobile devices offered by RaidCall, which ceased operations in March 2019. Revenues from IVAS are recognized during the period the services are rendered or items are consumed under the gross method, as Changyou is the principal obligor for provision of the services. As of August 12, 2019, the Sohu Group ceased consolidating Changyou’s cinema advertising business in its consolidated financial statements and, accordingly, the financial results of the cinema advertising business are excluded from the Sohu Group’s results from continuing operations and are presented in separate line items as discontinued operations in the consolidated financial statements, and retrospective adjustments to the Sohu Group’s historical audited consolidated financial statements have been made in order to provide a consistent basis of comparison. Contract Balances Timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable represent amounts invoiced and revenue recognized prior to invoicing, when the Group has satisfied its performance obligations and has the unconditional right to payment. The allowance for credit losses is estimated based upon the Group’s assessment of various factors, including past collection experience and consideration of current and future economic conditions and other factors that may affect the Group’s customers’ ability to pay. Contract assets as of December 31, 2021 were not material. The allowance for credit losses was Receipts in advance and deferred revenue relate to unsatisfied performance obligations at the end of the period and primarily consist of fees received from game players in the online game business and from advertisers in the brand advertising business. Due to the generally short-term duration of the contracts, the majority of the performance obligations are satisfied in the following reporting period. The amount of revenue recognized that was included in the receipts in advance and deferred revenue balance at the beginning of the period was $46.4 million for the year ended December 31, 2021. There was no significant change in the contract assets and contract liability balances during 2021. Revenue recognized in 2021 from performance obligations related to prior years was not material. Practical Expedients The Group has used the following practical expedients as allowed under ASC 606: (i) The transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied has not been disclosed, as substantially all of the Group’s contracts have a duration of one year or less. (ii) Payment terms and conditions vary by contract type, although terms generally include a requirement of prepayment or payment within one year or less. In instances where the timing of revenue recognition differs from the timing of invoicing, the Group has determined that its contracts generally do not include a significant financing component. (iii) The Group applied the portfolio approach in determining the commencement date of consumption and the estimated lives of virtual items for the recognition of games revenue, given that the effect of applying a portfolio approach to a group game players’ behaviors would not differ materially from considering each one of them individually. (iv) The Group generally expenses sales commissions when incurred because the amortization period would be one year or less. These costs are recorded within sales and marketing expenses. |
Cost of Revenues | Cost of Revenues Cost of Brand Advertising Revenues Cost of brand advertising revenues mainly consists of salary and benefits expenses, content and license costs, and expenses incurred for related events. For self-developed video content, production costs incurred in excess of the amount of revenue contracted for are expensed as incurred. Cost of Online Game Revenues Cost of online game revenues mainly consists of revenue-sharing payments, bandwidth service costs, salary and benefits expenses, content and license costs, tax surcharges, depreciation and amortization expenses, and other direct costs. Cost of Other Revenues Cost of other revenues mainly consists of revenue-sharing payments related to interactive broadcasting services, revenue-sharing payments related to paid subscription services, and content and license costs related to paid subscription services. |
Product Development Expenses | Product Development Expenses Product development expenses mainly consist of salary and benefits expenses, content and license costs, professional fees, depreciation and amortization expenses, facilities expenses, travel and entertainment expenses, and share-based compensation expense. These expenses are incurred for the enhancement and maintenance of the Sohu Group’s Internet platforms as well as for its products and services. The development costs of online games are expensed as incurred, including the development costs of online games prior to the establishment of technological feasibility and maintenance costs after the online games are available for marketing. |
Sales and Marketing Expenses | Sales and Marketing Expenses Sales and marketing expenses mainly consist of advertising and promotional expenses, salary and benefits expenses, travel and entertainment expenses, and facilities expenses. Advertising and promotional expenses generally represent the expenses of promotions to create or stimulate a positive image of the Sohu Group or a desire to subscribe for the Group’s products and services. Advertising and promotional expenses are expensed as incurred. |
General and Administrative Expenses | General and Administrative Expenses General and administrative expenses mainly consist of salary and benefits expenses, bad debts, professional fees, share-based compensation expense, travel and entertainment expenses, and facilities expenses. |
Share-based Compensation Expense | Share-based Compensation Expense Sohu (excluding Sohu Video), Changyou, and Sohu Video have incentive plans for the granting of share-based awards, including share options and restricted share units, to members of the boards of directors, management and other key employees. For share-based awards for which a grant date has occurred, share-based compensation expense is recognized as costs and expenses in the consolidated statements of comprehensive income based on the fair value of the related share-based awards on their grant dates. For share-based awards for which the service inception date precedes the grant date, share-based compensation expense is recognized as costs and expenses in the consolidated statements of comprehensive income beginning on the service inception date and is re-measured After the completion of the Changyou Merger, the board of directors of the C per-share No subsequent fair value re-measurement Sohu (excluding Sohu Video) and Changyou Share-based Awards Sohu (excluding Sohu Video) Share-based Awards In determining the fair value of share options granted by Sohu (excluding Sohu Video) as share-based awards, the public market price of the underlying shares at each reporting date was used, and a binomial valuation model was applied. In determining the fair value of restricted share units granted, the public market price of the underlying shares on the grant dates was applied. Upon the dissolution of Sohu.com Inc. on May 31, 2018, Sohu.com Limited assumed all then existing obligations of Sohu.com Inc. with respect to equity incentive awards that had been granted under Sohu.com Inc.’s Amended and Restated 2010 Stock Incentive Plan (the “Sohu 2010 Stock Incentive Plan”) and remained outstanding, and such awards were converted into the right to receive upon exercise or settlement Sohu.com Limited’s ordinary shares under the Sohu.com Limited 2018 Share Incentive Plan (the “Sohu 2018 Share Incentive Plan”) rather than shares of the common stock of Sohu.com Inc., subject to the other terms of such outstanding awards. Options for the purchase of Sohu.com Limited’s ordinary shares, including options converted from those contractually granted under the Sohu 2010 Stock Incentive Plan, are subject to vesting in four equal installments over a period of four years, with each installment vesting upon satisfaction of a service period requirement and certain subjective performance targets. Under ASC 718-10-25, 718-10-55, re-measured Changyou Share-based Awards Options for the purchase of Changyou Class A ordinary shares contractually granted under the Changyou 2014 Share Incentive Plan and the Changyou 2019 Share Incentive Plan are subject to vesting in four equal installments over a period of four years, with each installment vesting upon satisfaction of a service period requirement and certain subjective performance targets. Under ASC 718-10-25, 718-10-55, re-measured After the Changyou Plans’ Modification, a portion of the share options previously granted under the Changyou 2014 Share Incentive Plan that became vested after the completion of the Changyou Merger were settled by Changyou at a fixed price of $ 5.39 5.40 per-share 0.01 5.39 5.39 re-measurement 5.39 As of December 31, 2021, 5,443,000 of these Changyou share options had been granted and had become vested on their respective vesting dates, as a mutual understanding of the subjective performance targets had been reached between Changyou and the recipients, the targets had been satisfied, and the service period requirements had been fulfilled. Cumulative share-based compensation expense of $23.5 million was accrued based on the fixed price of $5.39 per Changyou Class A ordinary share. Compensation Expense Recognition For options and restricted share units granted with respect to Sohu (excluding Sohu Video) shares and Changyou shares, compensation expense is recognized on an accelerated basis upon the requisite service period and certain subjective performance targets being met. The number of share-based awards for which the service is not expected to be rendered over the requisite period is estimated, and no compensation expense is recorded for the number of awards so estimated. Sohu Video Share-based Awards On January 4, 2012, Sohu Video, the holding entity of Sohu’s video division, adopted a 2011 Share Incentive Plan (the “Sohu Video Share Incentive Plan”), which provided for the issuance of up to ordinary shares of Sohu Video (representing approximately of the outstanding Sohu Video shares on a fully-diluted basis) to management and key employees of the video division and to Sohu management. The maximum term of any - based As of December 31, 2021, grants of options for the purchase of 16,368,200 ordinary shares of Sohu Video had been contractually made and were subject to vesting in four equal installments, with each installment vesting upon a service period requirement being met, as well as Sohu Video’s achievement of performance targets for the corresponding period. As of December 31, 2021, options for the purchase o f Sohu Video ordinary shares were vested. For purposes of ASC 718-10-25, 718-10-55, recognized compensation expense for those vested Sohu Video share-based awards and re-measured |
Taxation | Taxation PRC Corporate Income Tax Income taxes are accounted for using an asset and liability approach which requires the recognition of income taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in the Group’s financial statements or tax returns. Deferred income taxes are determined based on the differences between the accounting basis and the tax basis of assets and liabilities and are measured using the currently enacted tax rates and laws. Deferred tax assets are reduced by a valuation allowance, if based on available evidence, it is considered that it is more likely than not that some portion of or all of the deferred tax assets will not be realized. In making such determination, the Group considers factors including future reversals of existing taxable temporary differences, future profitability, and tax planning strategies. If events were to occur in the future that would allow the Group to realize more of its deferred tax assets than the presently recorded net amount, an adjustment would be made to the deferred tax assets that would increase income for the period when those events occurred. If events were to occur in the future that would require the Group to realize less of its deferred tax assets than the presently recorded net amount, an adjustment would be made to the valuation allowance against deferred tax assets that would decrease income for the period when those events occurred. Significant management judgment is required in determining income tax expense and deferred tax assets and liabilities. The Group’s deferred tax assets are related to net operating losses and temporary book versus tax basis differences for its China-based Subsidiaries and VIEs, which are subject to corporate income tax in the PRC under the PRC Corporate Income Tax Law (the “CIT Law”). PRC Withholding Tax on Dividends The CIT Law imposes a 10% withholding income tax on dividends distributed by foreign invested enterprises in the PRC to their immediate holding companies outside Mainland China. A lower withholding tax rate may be applied if there is a tax treaty between Mainland China and the jurisdiction of the foreign holding company. A holding company in Hong Kong, for example, will be subject to a 5% withholding tax rate under an arrangement between the PRC and the Hong Kong Special Administrative Region on the “Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income,” if such holding company is considered a non-PRC PRC Value Added Tax On May 1, 2016, the transition from the imposition of PRC business tax to the imposition of VAT was expanded to all industries in China, and all of the Sohu Group’s revenues have been subject to VAT since that date. To record VAT payable, the Group adopted the net presentation method, which presents the difference between the output VAT ( at Taxation on distributions from VIEs to the Subsidiaries Pursuant to the contractual agreements with the VIEs and their respective shareholders, the Sohu Group’s PRC subsidiaries charge the VIEs service fees. For income tax purposes, the Sohu Group’s PRC subsidiaries and the VIEs file income tax returns on a separate basis. The service fees paid by the VIEs are deductible by the VIEs for PRC income tax purposes and are recognized as income by the Sohu Group’s PRC subsidiaries. The effect on the Sohu Group is tax neutral when the VIEs and the PRC subsidiaries have the same income tax rate. U.S. Corporate Income Tax Sohu.com Inc., which was formerly the top-tier one-time Certain activities conducted in the PRC resulted in U.S. corporate income taxes being imposed on Sohu.com Inc. when its subsidiaries that were controlled foreign corporations (“CFCs”) generated income that was subject to Subpart F of the U.S. Internal Revenue Code (“Subpart F”). Generally, passive income, such as rents, royalties, interest, dividends, and gains from disposal of the company’s investments, was among the types of income that were subject to taxation under Subpart F. Any income taxable under Subpart F was taxable in the U.S. at the applicable federal corporate income tax rate. Subpart F income also included certain income from intra-Group transactions between Sohu.com Inc.’s non-U.S. non-U.S. non-U.S. non-U.S. To the extent that portions of Sohu.com Inc.’s U.S. taxable income, such as Subpart F income or global intangible low-taxed Treatment of Toll Charge Related to the U.S. TCJA Beginning in the fourth quarter of 2017, the Sohu Group had recognized a provisional amount of income tax expense for the Toll Charge of $219 million, which represented management’s estimate of the amount of the Toll Charge that would have been payable by Sohu.com Inc. based on the deemed repatriation to the United States of its share of previously deferred earnings of certain of its non-U.S. For the fourth quarter of 2018, the Sohu Group’s management re-evaluated The tax benefit recognized and the unrecognized tax benefit in relation to the Toll Charge may be subject to further adjustment in subsequent periods based on facts and circumstances that arose after December 31, 2021, such as any IRS assessments upon audit and management’s further judgment and estimates. Uncertain Tax Positions The Sohu Group is subject to various taxes in different jurisdictions, but primarily the PRC. Management reviews regularly the adequacy of the provisions for taxes as they relate to the Group’s income and transactions. In order to assess uncertain tax positions, the Group applies a more likely than not threshold and a two-step two-step |
Net Income/(Loss) per Share | Net Income/(Loss) per Share Basic net income/(loss) per share is computed using the weighted average number of ordinary shares outstanding during the period. Diluted net income/(loss) per share is computed using the weighted average number of ordinary shares and, if dilutive, potential ordinary shares outstanding during the period. Potential ordinary shares comprise shares issuable upon the exercise or settlement of share-based awards using the treasury stock method. The dilutive effect of share-based awards with performance requirements is not considered before the performance targets are actually met. The computation of diluted net income/(loss) per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect (i.e. an increase in earnings per share amounts or a decrease in loss per share amounts) on net income/(loss) per share. Additionally, for purposes of calculating the numerator of diluted net income/(loss) per share, the net income/(loss) attributable to the Sohu Group is calculated as discussed below. The adjustment will not be made if there is an anti-dilutive effect. Changyou’s net income/(loss) attributable to Sohu Prior to the completion of the Changyou Merger on April 17, 2020, Changyou’s net income/(loss) attributable to Sohu was determined using the percentage that the weighted average number of Changyou shares held by Sohu represented of the weighted average number of Changyou ordinary shares and shares issuable upon the exercise or settlement of share-based awards under the treasury stock method, and not by using the percentage held by Sohu of the total economic interest in Changyou, which was used for the calculation of basic net income per share. After the completion of the Changyou Merger, Sohu holds 100% of the combined total of Changyou’s outstanding ordinary shares, so Changyou’s net income/(loss) is wholly attributable to Sohu. As a result of the Changyou Plans’ Modification, a portion of the share options previously granted under the Changyou 2014 Share Incentive Plan that became vested after the completion of the Changyou Merger were settled by Changyou at a fixed price of $5.39 per Changyou Class A ordinary share, which equals the Changyou Merger consideration of $5.40 per Changyou Class A ordinary share minus the per-share exercise price of $0.01 of such options. None of the remaining share options granted under the Changyou 2014 Share Incentive Plan that became vested after the completion of the Changyou Merger or that become vested in the future, and none of the share options granted under the Changyou 2019 Share Incentive Plan, will be exercisable, but can only be repurchased by Changyou at a fixed price of $5.39 per Changyou Class A ordinary share underlying such vested share options upon termination of the option holders’ employment or upon approval of the Chairman of the Sohu Board. As a result of the Changyou Plans’ Modification, share-based compensation expense will be accrued over the service period based on the fixed price of $5.39 per Changyou Class A ordinary share. No subsequent fair value re-measurement will be made, given that the award is an obligation based on a fixed amount of $5.39 per Changyou Class A ordinary share. In the calculation of Sohu’s diluted net income/(loss) per share, before the Sohu Board’s approval of the Changyou Plans’ Modification, a dilutive effect should be assumed. All of Changyou’s existing unvested restricted share units and share options, and vested restricted share units and share options that have not yet been settled or exercised, are treated as vested and settled by Changyou under the treasury stock method, causing the percentage of the weighted average number of shares held by Sohu in Changyou to decrease. As a result, Changyou’s net income/(loss) attributable to Sohu on a diluted basis decreased accordingly. Assuming an anti-dilutive effect, all of these Changyou restricted share units and share options are excluded from the calculation of Sohu’s diluted net income/(loss) per share. As a result, Changyou’s net income/(loss) attributable to Sohu on a diluted basis equals the number used for the calculation of Sohu’s basic net income/(loss) per share. After the Changyou Plans’ Modification, all of Changyou’s previously granted share-based awards were reclassified as obligation-based awards. Accordingly, all of those Changyou awards are excluded from the calculation of Sohu’s diluted net income/(loss) per share. Changyou’s net income/(loss) attributable to Sohu on a diluted basis equals the number used for the calculation of Sohu’s basis net income/(loss) per share. There have been no dilutive effects resulting from Changyou’s existing unvested share options. Sogou’s net income/(loss) attributable to Sohu (Discontinued) Prior to the completion of the Tencent/Sohu Sogou Share Purchase on September 23, 2021, Sogou’s net income/(loss) attributable to Sohu was determined using the percentage that the weighted average number of Sogou shares held by Sohu represented of the weighted average number of Sogou ordinary shares and shares issuable upon the exercise or settlement of share-based awards under the treasury stock method, and not by using the percentage held by Sohu of the total economic interest in Sogou, which is used for the calculation of basic net income per share. Sogou’s net income/(loss) attributable to Sohu is reflected as discontinued operations in the Sohu Group’s consolidated statements of comprehensive income. In the calculation of Sohu’s diluted net income/(loss) per share, assuming a dilutive effect, the percentage of Sohu’s shareholding in Sogou was calculated by treating unvested Sogou share options where the performance targets had been achieved, as well as vested but unexercised Sogou share options, as having been exercised during the period. The dilutive effect of share-based awards with a performance requirement was not considered before the performance targets were actually met. Assuming an anti-dilutive effect, all of these Sogou shares and share options are excluded from the calculation of Sohu’s diluted income/(loss) per share. As a result, Sogou’s net income/(loss) attributable to Sohu on a diluted basis equals the number used for the calculation of Sohu’s basic net income/(loss) per share. As a result of the completion of the Tencent/Sohu Sogou Share Purchase, Sohu no longer has any ownership interest in Sogou and Sogou is not included in Sohu’s consolidated financial statements. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments U.S. GAAP establishes a three-tier hierarchy to prioritize the inputs used in the valuation methodologies in measuring the fair value of financial instruments. This hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three-tier fair value hierarchy is: Level 1 - observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - include other inputs that are directly or indirectly observable in the market place. Level 3 - unobservable inputs which are supported by little or no market activity. The Sohu Group’s financial instruments consist primarily of cash equivalents, restricted cash, short-term investments, accounts receivable, other current assets, long-term investments, long-term time deposits, restricted time deposits, accounts payable, accrued liabilities, short-term bank loans, other short-term liabilities, long-term bank loans, and long-term other payables. |
Cash Equivalents | Cash Equivalents The Sohu Group’s cash equivalents mainly consist of time deposits with original maturities of three months or less, and highly liquid investments that are readily convertible to known amounts of cash. |
Restricted Cash and Restricted Time Deposits | Restricted Cash and Restricted Time Deposits Restricted cash and restricted time deposits are valued based on the prevailing interest rates in the market using the discounted cash flow method. See Note 10 - Fair Value Measurements. |
Short-term Investments | Short-term Investments The Sohu Group’s short-term investments mainly consist of investments in financial instruments with a variable interest rate and time deposits with maturities of three months to one year. For investments in financial instruments with a variable interest rate indexed to the performance of underlying assets and time deposits, the Sohu Group elected the fair value method at the date of initial recognition and carried these investments subsequently at fair value. Changes in fair values are reflected in the consolidated statements of comprehensive income. |
Accounts Receivable, Net | Accounts Receivable, Net The carrying value of accounts receivable is reduced by an allowance for credit losses that reflects the Sohu Group’s best estimate of the amounts that will not be collected. The Group makes estimations of the collectability of accounts receivable. Many factors are considered in estimating the general allowance, including reviewing delinquent accounts receivable, performing a customer credit analysis, and analyzing historical bad debt records and current and future economic trends. Accounts receivable represent historical balances recorded less related cash applications, less allowance for credit losses and any write-offs of any receivables not previously provided for. Allowance for credit losses Effective on January 1, 2020, the Sohu Group adopted Accounting Standards Update (ASU) 2016-13, 2016-13”) The Sohu Group adopted ASU 2016-13 The allowance for credit losses reflects the Sohu Group’s estimated expected losses. The Sohu Group estimates the allowance for credit losses, mainly based on past collection experience as well as consideration of current and future economic conditions and changes in the Sohu Group’s collection trends. The Sohu Group estimates the expected credit losses for accounts receivable with similar risk characteristics on a pool basis. For each pool, the Sohu Group first estimates its recovery period based on relevant historical accounts receivable collection information. Then the Sohu Group estimates the credit allowances based on the recovery period, the historical distribution of each aging bucket, and the impact of macroeconomic factors. Accounts receivable are written off when there is no reasonable expectation of recovery. Subsequent recoveries of amounts previously written off are credited against the same line item. Accounts receivable, net, as of December 31, 2020 and 2021 consisted of the following (in thousands): As of December 31, 2020 2021 Accounts receivable, net Accounts receivable $ 94,528 $ 94,908 Less: Allowance for credit losses (7,007 ) (12,358 ) $ 87,521 $ 82,550 The following table presents the aging analysis of accounts receivable as of December 31, 2020 and 2021 (in thousands): As of December 31, 2020 2021 Less than 179 days $ 78,805 $ 79,155 180-359 7,569 7,437 360 days and greater 8,154 8,316 Total 94,528 94,908 The movement of allowance for credit losses for the years ended December 31, 2019, 2020 and 2021 was as follows (in thousands): For the year ended December 31, 2019 2020 2021 Balance at the beginning of year $ 7,574 $ 3,956 $ 7,007 Changes on initial application of ASU 2016-13 0 3,383 0 Additional allowance for credit losses, net of recoveries 4,724 2,419 6,292 Write-offs (8,237 ) (3,231 ) (1,155 ) Exchange difference (105 ) 480 214 Balance at the end of year 3,956 7,007 12,358 Note (1): The Company adopted ASU 2016-13 |
Equity Investments | Equity Investments Investments in entities are recorded as equity investments under long-term investments. For investments in common stock or in-substance The Group assesses investments for impairment by considering factors including, but not limited to, current economic and market conditions, operating performance of the companies, including current earnings trends and undiscounted cash flows, and other company-specific information, such as recent financing rounds. The fair value determination, particularly for investments in privately-held companies whose revenue model is still unclear, requires significant judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investments. If the assessment indicates that an impairment exists, the Group estimates the fair value of the investment and writes down the asset to its fair value, taking the corresponding charge to the consolidated statements of comprehensive income/(loss). |
Long Term Time Deposits | Long-term Time Deposits The Sohu Group elected the fair value method at the date of initial recognition of time deposits with maturities over one year and carried these investments subsequently at fair value. Changes in fair values are reflected in the consolidated statements of comprehensive income. |
Long-Lived Assets | Long-Lived Assets Long-lived assets include fixed assets and intangible assets. Fixed Assets Fixed assets mainly comprise office buildings, leasehold improvements, building improvements, vehicles, office furniture and computer equipment, and hardware. Fixed assets are recorded at cost less accumulated depreciation with no residual value. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Fixed Assets Estimated Useful Lives (years) Office buildings 36-47 Leasehold improvements Lesser of term of the lease or the estimated useful lives of the assets Vehicles 4 Office furniture 5 Computer equipment and hardware 4-5 Expenditure for maintenance and repairs is expensed as incurred. The gain or loss on the disposal of fixed assets is the difference between the net sale proceeds and the carrying value of the relevant assets and is recognized in operating expenses in the consolidated statements of comprehensive income. Intangible Assets Intangible assets mainly comprise purchased video content, operating rights for licensed games, domain names and trademarks, computer software, and developed technologies. Intangible assets are recorded at cost less accumulated amortization with no residual value. Amortization of intangible assets other than purchased video content is computed using the straight-line method over their estimated useful lives. Amortization of purchased video content is computed based on the trend in viewership accumulation over the shorter of the applicable license period or two years. The estimated useful lives of the Group’s intangible assets are listed below: Intangible Assets Estimated Useful Lives (years) Purchased video content 1 month to 2 years Computer software 1-5 Developed technologies 3-10 Domain names and trademarks 4-30 Operating rights for licensed games over the contract terms Sohu Video enters into nonmonetary transactions to exchange online broadcasting rights for purchased video content with other online video broadcasting companies. Under ASC 845, the cost of a nonmonetary asset acquired in exchange for another nonmonetary asset is the fair value of the asset surrendered to obtain the acquired nonmonetary asset, and a gain or loss should be recognized on the exchange. The fair value of the asset received should be used to measure the cost if the fair value of the asset received is more reliable than the fair value of the asset surrendered. The Sohu Group records these nonmonetary exchanges at the fair values of the online broadcasting rights for purchased video content and recognize any net gain or loss from such exchange transactions. Impairment of Long-lived Assets Other Than Purchased Video Content In accordance with ASC 360-10-35, Impairment of Purchased Video Content Purchased video content is stated at the lower of cost less accumulated amortization, or fair value. In accordance with ASC 920-350-35, |
Lease | Lease The Sohu Group adopted ASU No. 2016-02, The Sohu Group elected the package of practical expedients permitted under the transition guidance, which allowed the Sohu Group to carry forward the historical lease classification, the assessment on whether an existing or expired contract contains a lease, and the treatment of initial direct costs. The Sohu Group also elected to keep leases with an initial term of 12 months or less off the balance sheet. Under the new lease guidance, the Sohu Group determines if an arrangement is or contains a lease at inception. Right-of-use right-of-use 6.7 m 17.9 right-of-use for 16.2 lease liabilities January |
Goodwill | Goodwill Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired as a result of the Sohu Group’s acquisitions of interests in its subsidiaries and consolidated VIEs. If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Group reports in its financial statements provisional amounts for the items for which the accounting is incomplete. If a measurement period adjustment is identified, the Group recognizes the adjustment as part of the acquisition accounting. The Sohu Group increases or decreases the provisional amounts of identifiable assets or liabilities by means of increases or decreases in goodwill for measurement period adjustments. In accordance with ASC 350, the Group does not amortize goodwill, but tests it for impairment. The Group tests goodwill for impairment at the reporting unit level on an annual basis as of October 1, and between annual tests when an event occurs or circumstances change that could indicate that the asset might be impaired. The Group adopted ASU No. 2017-04, Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, assigning assets and liabilities to reporting units, assigning goodwill to reporting units, and determining the fair value of each reporting unit. The Group estimates fair value using the income approach and the market approach. The fair value determined using the income approach is compared with comparable market data and reconciled, as necessary. The judgment in estimating the fair value of reporting units includes revenue growth rates and profitability in estimating future cash flows; determining appropriate discount rates and earnings multipliers based on market data of comparable companies engaged in a similar business under the market approach; and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of fair value for each reporting unit. |
Treasury Stock | Treasury Stock Treasury stock consists of the Company’s ordinary shares, including ordinary shares represented by ADSs, repurchased by the Company or that it is obligated to repurchase as of the reporting date. Ordinary shares included in treasury stock are no longer deemed to be outstanding. Treasury stock is accounted for under the cost method. |
Comprehensive Income | Comprehensive Income Comprehensive income is defined as the change in equity of a company during |
Functional Currency and Foreign Currency Translation | Functional Currency and Foreign Currency Translation An entity’s functional currency is the currency of the primary economic environment in which it operates, normally that is the currency of the environment in which the entity primarily generates and expends cash. Management’s judgment is essential to determine the functional currency by assessing various indicators, such as cash flows, sales price and market, expenses, financing and intra-Group transactions and arrangements. The functional currency of Sohu.com Limited, and its predecessor Sohu.com Inc., is the U.S. dollar. The functional currency of the Sohu Group’s subsidiaries in the U.S., the Cayman Islands, the British Virgin Islands and Hong Kong is the U.S. dollar. The functional currencies of the Sohu Group’s subsidiaries and VIEs in other countries are the national currencies of those counties, rather than the U.S. dollar. Foreign currency transactions denominated in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are re-measured re-measurement Financial statements of entities with a functional currency other than the U.S. dollar are translated into U.S. dollars, which is the reporting currency. Assets and liabilities are translated at the current exchange rate in effect at the balance sheet date, and revenues and expenses are translated at the average of the exchange rates in effect during the reporting period. Shareholders’ equity accounts are translated using the historical exchange rates at the date the entry to shareholders’ equity was recorded, except for the change in retained earnings during the year, which is translated using the historical exchange rates used to translate each period’s income statement. Differences resulting from translating a foreign currency to the reporting currency are recorded in accumulated other comprehensive income in the consolidated balance sheets. |
Impact of Recently Issued Accounting Pronouncements | Impact of Recently Issued Accounting Pronouncements Simplifying the accounting for income taxes (Topic 740). No. 2019-12, ncome Taxes (Topic 740)-Simplifying the Accounting for Income Taxes No. 2019-12 Investments-Equity securities (Topic 321), Investments-Equity method and joint ventures (Topic 323), and Derivatives and hedging (Topic 815)-Clarifying the interactions between Topic 321, Topic 323, and Topic 815. In January 2020, the FASB issued ASU No. 2020-01, Investments-Equity securities (Topic 321), Investments-Equity method and joint ventures (Topic 323), and Derivatives and hedging (Topic 815)-Clarifying the interactions between Topic 321, Topic 323, and Topic 815 . The amendments clarify the interaction of the accounting for equity investments under Topic 321 and investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The adoption of this standard did not have a material impact on the Sohu Group’s consolidated financial statements. Other accounting standards that the Sohu Group adopted beginning January 1, 2021 did not have a significant impact on the Sohu Group’s consolidated financial statements. |
The Company and Nature of Ope_2
The Company and Nature of Operations (Information of Subsidiaries and VIEs) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
THE COMPANY AND NATURE OF OPERATIONS [Abstract] | |
Information of all subsidiaries and VIEs | Name of Entity Date of Incorporation/Acquisition Place of Incorporation/ Acquisition Effective Interest held through Subsidiaries: For Sohu: Sohu.com (Hong Kong) Limited Incorporated on April 19, 2000 Hong Kong 100 % Beijing Sohu New Era Information Technology Co., Ltd. (“Sohu Era”) Incorporated on July 25, 2003 People’s Republic of China 100 % Sohu.com (Search) Limited (“Sohu Search”) Incorporated on October 28, 2005 Cayman Islands 100 % Beijing Sohu New Media Information Technology Co., Ltd. (“Sohu Media”) Incorporated on June 19, 2006 People’s Republic of China 100 % Sohu.com (Game) Limited (“Sohu Game”) Incorporated on February 11, 2008 Cayman Islands 100 % Beijing Sohu New Momentum Information Technology Co., Ltd. (“Sohu New Momentum”) Incorporated on May 31, 2010 People’s Republic of China 100 % Fox Video Limited (“Sohu Video”) Incorporated on July 26, 2011 Cayman Islands 100 % Fox Information Technology (Tianjin) Limited (“Video Tianjin”) Incorporated on November 17, 2011 People’s Republic of China 100 % Sohu Focus Limited Incorporated on July 11, 2013 Cayman Islands 100 % Sohu Focus (HK) Limited (“Focus HK”) Incorporated on July 26, 2013 Hong Kong 100 % For Changyou: Changyou.com Limited (“Changyou”) Incorporated on August 6, 2007 Cayman Islands 100 % Changyou.com (HK) Limited (“Changyou HK”) Incorporated on August 13, 2007 Hong Kong 100 % Beijing AmazGame Age Internet Technology Co., Ltd. (“AmazGame”) Incorporated on September 26, 2007 People’s Republic of China 100 % Beijing Changyou Gamespace Software Technology Co., Ltd. (“Gamespace”) Incorporated on October 29, 2009 People’s Republic of China 100 % Changyou.com Korea LLC Incorporated on January 7, 2010 Korea 100 % Beijing Changyou Chuangxiang Software Technology Co., Ltd. (“Changyou Chuangxiang”) Incorporated on November 8, 2016 People’s Republic of China 100 % VIEs: For Sohu: Beijing Century High-Tech Investment Co., Ltd. (“High Century”) Incorporated on December 28, 2001 People’s Republic of China 100 % Beijing Incorporated on February 7, 2002 People’s Republic of China 100 % Beijing Sohu Internet Information Service Co., Ltd. (“Sohu Internet”) Incorporated on July 31, 2003 People’s Republic of China 100 % Beijing Sohu Donglin Advertising Co., Ltd. (“Donglin”) Incorporated on May 17, 2010 People’s Republic of China 100 % Tianjin Jinhu Culture Development Co., Ltd (“Tianjin Jinhu”) Incorporated on November 24, 2011 People’s Republic of China 100 % Beijing Focus Interactive Information Service Co., Ltd. (“Focus Interactive”) Incorporated on July 15, 2014 People’s Republic of China 100 % Guangzhou Qianjun Network Technology Co., Ltd. (“Guangzhou Qianjun”) Acquired on November 25, 2014 People’s Republic of China 100 % For Changyou: Beijing Gamease Age Digital Technology Co., Ltd. (“Gamease”) Incorporated on August 23, 2007 People’s Republic of China 100 % Shanghai ICE Information Technology Co., Ltd. (“Shanghai ICE”) Acquired on May 28, 2010 People’s Republic of China 100 % Beijing Guanyou Gamespace Digital Technology Co., Ltd. (“Guanyou Gamespace”) Incorporated on August 5, 2010 People’s Republic of China 100 % |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Schedule of accounts notes loans and financing receivable | Accounts receivable, net, as of December 31, 2020 and 2021 consisted of the following (in thousands): As of December 31, 2020 2021 Accounts receivable, net Accounts receivable $ 94,528 $ 94,908 Less: Allowance for credit losses (7,007 ) (12,358 ) $ 87,521 $ 82,550 |
Accounts receivable current overdue details | The following table presents the aging analysis of accounts receivable as of December 31, 2020 and 2021 (in thousands): As of December 31, 2020 2021 Less than 179 days $ 78,805 $ 79,155 180-359 7,569 7,437 360 days and greater 8,154 8,316 Total 94,528 94,908 |
Accounts receivable allowance for credit loss | The movement of allowance for credit losses for the years ended December 31, 2019, 2020 and 2021 was as follows (in thousands): For the year ended December 31, 2019 2020 2021 Balance at the beginning of year $ 7,574 $ 3,956 $ 7,007 Changes on initial application of ASU 2016-13 0 3,383 0 Additional allowance for credit losses, net of recoveries 4,724 2,419 6,292 Write-offs (8,237 ) (3,231 ) (1,155 ) Exchange difference (105 ) 480 214 Balance at the end of year 3,956 7,007 12,358 |
Estimated useful lives of fixed assets | Fixed Assets Estimated Useful Lives (years) Office buildings 36-47 Leasehold improvements Lesser of term of the lease or the estimated useful lives of the assets Vehicles 4 Office furniture 5 Computer equipment and hardware 4-5 |
Estimated useful lives of intangible assets | Intangible Assets Estimated Useful Lives (years) Purchased video content 1 month to 2 years Computer software 1-5 Developed technologies 3-10 Domain names and trademarks 4-30 Operating rights for licensed games over the contract terms |
ASC 606 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Revenues disaggregated by products and services | Year Ended December 31, 2019 (in thousands) Sohu Changyou Total Brand advertising: Sohu Media Portal $ 94,692 0 94,692 Sohu Video 34,529 0 34,529 Focus 32,120 0 32,120 17173.com Website 0 13,715 13,715 Online games: PC games 0 267,752 267,752 Mobile games 0 172,718 172,718 Other games 0 432 432 Others 57,082 763 57,845 Total $ 218,423 455,380 673,803 Year Ended December 31, 2020 (in thousands) Sohu Changyou Total Brand advertising: Sohu Media Portal $ 86,293 0 86,293 Sohu Video 25,312 0 25,312 Focus 23,281 0 23,281 17173.com Website 0 11,640 11,640 Online games: PC games 0 353,737 353,737 Mobile games 0 182,947 182,947 Others 66,658 22 66,680 Total $ 201,544 548,346 749,890 Year Ended Sohu Changyou Total Brand advertising: Sohu Media Portal $ 75,408 0 75,408 Sohu Video 26,803 0 26,803 Focus 22,013 0 22,013 17173.com Website 0 10,743 10,743 Online games: PC games 0 469,332 469,332 Mobile games 0 168,893 168,893 Others 62,382 2 62,384 Total $ 186,606 648,970 835,576 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Sogou Inc. [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Balance Sheet Information of Discontinued Operations | The following tables set forth the assets, liabilities, results of operations and cash flows of discontinued operations with respect to Sogou, that were included in the Sohu Group’s consolidated financial statements (in thousands): As of December 31, ASSETS Cash and cash equivalents $ 287,185 Restricted cash 23,018 Short-term investments 774,618 Account and financing receivables, net 73,656 Prepaid and other current assets 28,946 Long-term investments, net 74,004 Fixed assets, net 89,089 Goodwill 6,527 Intangible assets, net 1,446 Other assets 53,679 Total assets associated with discontinued operations $ 1,412,168 LIABILITIES Accounts payable $ 122,695 Accrued liabilities 68,582 Receipts in advance 64,414 Accrued salary and benefits 25,350 Taxes payable 64,082 Other short-term liabilities 61,154 Long-term liabilities 10,721 Total liabilities associated with discontinued operations $ 416,998 |
Comprehensive Income Information of Discontinued Operations | Year Ended December 31, 2019 2020 2021 (1) Revenues $ 1,172,252 $ 924,664 $ 407,607 Cost of revenues 738,454 722,614 274,408 Gross profit 433,798 202,050 133,199 Operating expenses: Research and development (2) 190,402 193,376 141,506 Sales and marketing (2) 138,291 102,523 53,481 General and administrative (2) 40,670 29,271 11,854 Total operating expenses 369,363 325,170 206,841 Operating profit/(loss) 64,435 (123,120 ) (73,642 ) Interest income 4,443 2,807 2,377 Interest expense 0 0 (761 ) Foreign currency exchange gain/(loss) 1,849 (7,767 ) (848 ) Other income, net 21,127 38,633 81,655 Income/(loss) from discontinued operations before income tax expense 91,854 (89,447 ) 8,781 Income tax expense/(benefit) 2,748 2,346 (1,112 ) Results of operations from discontinued operations, net of tax 89,106 (91,793 ) 9,893 Gain on disposal of discontinued operations 0 0 855,009 Net income/(loss) from discontinued operations, net of tax 89,106 (91,793 ) 864,902 Note (1): Includes the financial results of the discontinued operations from January 1, 2021 to September 23, 2021. |
Schedule Of Effective Income tax Rate Of Discontinued Operations | Year Ended December 31, 2019 2020 2021 (1)(3) Statutory Rate: 25 % 25 % 25 % Effect of tax holidays applicable to subsidiaries and consolidated VIEs (2 %) (18 %) 127 % Tax differential from statutory rate applicable to subsidiaries and consolidated VIEs 3 % (3 %) (90 %) Changes in valuation allowance for deferred tax assets 7 % (43 %) 349 % Research and development super-deduction and other permanent book-tax differences (25 %) 35 % (249 %) Capital gains from equity investments (5 %) 1 % (175 %) 3 % (3 %) (13 %) Note (1): Includes the financial results of the discontinued operations from January 1, 2021 to September 23, 2021. |
Cash Flow Information of Discontinued Operations | Year Ended December 31, 2019 2020 2021 (1) Net cash provided by/(used in) discontinued operating activities $ 219,516 $ (68,187 ) $ (175,888 ) Net cash provided by/(used in) discontinued investing activities (217,598 ) 235,374 1,054,148 Net cash used in discontinued financing activities (33,415 ) (8,209 ) (9,132 ) Note (1): Includes the financial results of the discontinued operations from January 1, 2021 to September 23, 2021. |
Shanghai Jingmao and Its Affiliate [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Comprehensive Income Information of Discontinued Operations | Year Ended 2019 (1) Revenues $ 37,323 Cost of revenues 43,857 Gross loss (6,534 ) Operating expenses: Sales and marketing 8,807 General and administrative 18,583 Total operating expenses 27,390 Operating loss (33,924 ) Interest income 7 Other income/(expense), net 61 Loss from discontinued operations before income tax expense (33,856 ) Income tax expense 142 Net loss from discontinued operations, net of tax (33,998 ) |
Cash Flow Information of Discontinued Operations | Year Ended 2019 (1) Net cash provided by discontinued operating activities $ 9,341 Net cash used in discontinued investing activities (10,808 ) Net cash provided by discontinued financing activities 0 Note (1): Includes the financial results of the discontinued operations from January 1, 2019 to August 12, 2019. |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
SEGMENT INFORMATION [Abstract] | |
Segment operating information by segment | The following tables present summary information by segment (in thousands): Year Ended December 31, 2019 Sohu Changyou Eliminations Consolidated Revenues $ 218,442 $ 455,380 $ (19 ) $ 673,803 Segment cost of revenues (1) (148,258 ) (95,268 ) 21 (243,505 ) Segment gross profit 70,184 360,112 2 430,298 SBC in cost of revenues (2) (23 ) (120 ) 1 (142 ) Gross profit 70,161 359,992 3 430,156 Operating expenses: Product development (1) (113,761 ) (119,726 ) 0 (233,487 ) Sales and marketing (1) (155,226 ) (49,768 ) 2 (204,992 ) General and administrative (1) (31,330 ) (22,074 ) (17 ) (53,421 ) Goodwill impairment and impairment of intangible assets acquired as part of business acquisitions (7,245 ) 0 0 (7,245 ) SBC in operating expenses (2) (1,023 ) (1,185 ) 0 (2,208 ) Total operating expenses (308,585 ) (192,753 ) (15 ) (501,353 ) Operating profit/(loss) (238,424 ) 167,239 (12 ) (71,197 ) Other income 7,963 Interest income 6,103 Interest expense (14,370 ) Exchange difference 1,430 Loss before income tax expense (70,071 ) Income tax benefit (28,428 ) Net loss from continuing operations (98,499 ) Net income from discontinued operations 55,108 Net loss $ (43,391 ) Note (1): Total depreciation and amortization expenses of Sohu and Changyou were $50.7 million and $16.4 million, respectively, for the year ended December 31, 2019. Note (2): “SBC” stands for share-based compensation expense. Year Ended December 31, 2020 Sohu Changyou Eliminations Consolidated Revenues $ 201,544 $ 548,346 $ 0 $ 749,890 Segment cost of revenues (1) (122,362 ) (94,362 ) 7 (216,717 ) Segment gross profit 79,182 453,984 7 533,173 SBC in cost of revenues (2) (177 ) (543 ) 0 (720 ) Gross profit 79,005 453,441 7 532,453 Operating expenses: Product development (1) (97,681 ) (136,934 ) 0 (234,615 ) Sales and marketing (1) (106,057 ) (53,272 ) 0 (159,329 ) General and administrative (1) (25,861 ) (25,517 ) 0 (51,378 ) SBC in operating expenses (2) (1,759 ) (12,001 ) 0 (13,760 ) Total operating expenses (231,358 ) (227,724 ) 0 (459,082 ) Operating profit/(loss) (152,353 ) 225,717 7 73,371 Other income 25,993 Interest income 7,369 Interest expense (6,234 ) Exchange difference (3,800 ) Loss before income tax expense 96,699 Income tax expense (133,226 ) Net loss from continuing operations (36,527 ) Net income from discontinued operations (91,793 ) Net loss $ (128,320 ) Note (1): Total depreciation and amortization expenses of Sohu and Changyou were $26.4 million and $13.5 million, respectively, for the year ended December 31, 2020. Note (2): “SBC” stands for share-based compensation expense. Year Ended December 31, 2021 Sohu Changyou Eliminations Consolidated Revenues $ 186,606 $ 648,970 $ 0 $ 835,576 Segment cost of revenues (1) (113,881 ) (90,517 ) 4 (204,394 ) Segment gross profit 72,725 558,453 4 631,182 SBC in cost of revenues (2) (1 ) (276 ) 0 (277 ) Gross profit 72,724 558,177 4 630,905 Operating expenses: Product development (1) (113,186 ) (151,773 ) 0 (264,959 ) Sales and marketing (1) (126,126 ) (56,396 ) 0 (182,522 ) General and administrative (1) (36,949 ) (40,702 ) 0 (77,651 ) SBC in operating expenses (2) (804 ) (7,497 ) 0 (8,301 ) Total operating expenses (277,065 ) (256,368 ) 0 (533,433 ) Operating profit/(loss) (204,341 ) 301,809 4 97,472 Other income 29,416 Interest income 15,641 Interest expense (7,500 ) Exchange difference (3,462 ) Income before income tax expense 131,567 Income tax expense (62,296 ) Net loss from continuing operations 69,271 Net loss from discontinued operations 864,902 Net loss $ 934,173 Note (1): Total depreciation and amortization expenses of Sohu and Changyou were $23.4 million and $12.6 million, respectively, for the year ended December 31, 2021. Note (2): “SBC” stands for share-based compensation expense. |
Segment assets information by segment | As of December 31, 2020 Sohu Changyou Eliminations Consolidated Cash and cash equivalents $ 56,977 $ 160,080 $ 0 $ 217,057 Accounts receivable, net 60,886 26,635 0 87,521 Fixed assets, net 174,700 162,976 (2 ) 337,674 Total assets (1) $ 1,632,736 $ 2,478,705 $ (2,701,488 ) $ 1,409,953 Note (1): The elimination for segment assets mainly consists of elimination of intra-Group loans between Sohu and Changyou, and elimination of long-term investments in subsidiaries and consolidated VIEs. As of December 31, 202 1 Sohu Changyou Eliminations Consolidated Cash and cash equivalents $ 929,851 $ 69,098 $ 0 $ 998,949 Accounts receivable, net 48,108 34,442 0 82,550 Fixed assets, net 170,213 159,784 0 329,997 Total assets (1) $ 2,294,537 $ 2,610,964 $ (2,659,716 ) $ 2,245,785 Note (1): The elimination for segment assets mainly consists of elimination of intra-Group loans between Sohu and Changyou, and elimination of long-term investments in subsidiaries and consolidated VIEs. |
Share-based Compensation Expe_2
Share-based Compensation Expense (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
SHARE-BASED COMPENSATION EXPENSE [Abstract] | |
Share-based compensation expense recognized in costs and expenses | Share-based compensation expense was recognized in costs and expenses for the years ended December 31, 2019, 2020 and 2021 as follows (in thousands): Year Ended December 31, Share-based compensation expense 2019 2020 2021 Cost of revenues $ 142 $ 720 $ 277 Product development expenses 1,364 7,325 3,904 Sales and marketing expenses (326 ) 460 166 General and administrative expenses 1,170 5,975 4,231 $ 2,350 $ 14,480 $ 8,578 |
Share-based compensation expense was recognized for share awards of Sohu (excluding Sohu Video), Changyou and Sohu Video | Share-based compensation expense was recognized for share awards of Sohu (excluding Sohu Video), Changyou and Sohu Video as follows (in thousands): Year Ended December 31, Share-based compensation expense 2019 2020 2021 For Sohu (excluding Sohu Video) share-based awards $ 1,940 $ 2,633 $ 1,849 For Changyou share-based awards 1,305 12,545 7,773 For Sohu Video share-based awards (895 ) (698 ) (1,044 ) $ 2,350 $ 14,480 $ 8,578 |
Other Income, Net (Tables)
Other Income, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
OTHER INCOME, NET [Abstract] | |
Other Income/(Expense) | The following table summarizes the Sohu Group’s other income/(expense) (in thousands): Year Ended December 31, 2019 2020 2021 Rental income from Sogou (1) 8,029 9,793 10,427 Investment income 3,004 3 6,352 Income from investments in financial instruments (2) 11,113 4,303 5,260 Individual tax refund and additional deduction of PRC value-added tax 907 6,169 4,827 Write-down of unpaid long-term accounts payable 0 47 1,276 Gover nment grant 5,763 5,928 418 Impairment loss on equity investments ( 3 (23,154 ) (384 ) (215 ) Donations (283 ) (1,460 ) (1,565 ) Others 2,584 1,594 2,636 $ 7,963 $ 25,993 $ 29,416 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
BALANCE SHEET COMPONENTS [Abstract] | |
Balance sheet components account and financing receivables, net | As of December 31, 2020 2021 Accounts receivable, net Accounts receivable $ 94,528 94,908 Allowance for credit losses (7,007 ) (12,358 ) $ 87,521 82,550 |
Balance sheet components movement of allowance for credit losses | Balance at the Changes on initial 2016-13 Additional Write-offs Exchange Balance at the 2019 7,574 0 4,724 (8,237 ) (105 ) 3,956 2020 3,956 3,383 2,419 (3,231 ) 480 7,007 2021 7,007 0 6,292 (1,155 ) 214 12,358 |
Balance sheet components other assets and liabilities | As of December 31, 2020 2021 Prepaid and other current assets Matching loan due from a related party (See Note 9) $ 34,123 $ 34,123 Prepaid taxes 25,043 28,719 Prepaid revenue-sharing cost 10,120 12,428 Prepaid content and license costs 11,029 8,694 Prepaid advertising and promotion fee 244 4,685 Interest receivable from bank deposits with original maturities of three months or 3,875 3,059 Receivables from third party payment platforms 5,488 2,670 Prepaid professional fees 2,365 2,432 Prepaid rental deposit s 2,310 1,928 Emplo yee advances 587 569 Prepaid office rent and facilities expenses 696 338 Others 10,710 7,666 $106,590 $ 107,311 Prepaid non-current Prepaid PRC income tax for the sale of assets associated with 17173.com by Sohu to Changyou $ 1,006 $ 0 $ 1,006 $ 0 Other short-term liabilities Matching loans due to a related party (See Note 9) 34,123 34,123 Contingent liability related to Shanghai Jingmao liquidation (1) 23,900 23,900 Deposits related to Focus 21,936 10,387 Share-based awards in Changyou 13,292 20,693 Other payables related to Shanghai Jingmao liquidation (2) 0 9,380 Contract deposits from advertisers 3,036 2,679 Lease liabilities 1,107 1,999 Consideration payable for equity investment 751 769 Others 8,026 8,638 $ 106,171 $ 112,568 Note (1): The contingent liability represents the aggregate of estimated potential payments to third parties in connection with the liquidation of Shanghai Jingmao. The stated amount of the contingent liability reflects Changyou’s best estimate as of December 31, 2020 and 2021 pursuant to ASC 450-20. Note (2): Shanghai Jingmao. In 2021, Changyou received $9.4 million from the bankruptcy proceedings, as a creditor of Shanghai Jingmao, during the process of the liquidation of Shanghai Jingmao. No disposal gain was recognized due to the uncertainty with the proceedings that were still ongoing. Receipts in advance and deferred revenue Receipts in advance relating to: brand advertising business $ 5,214 $ 4,297 online game business 7,869 9,310 other business 6,029 5,286 Total receipts in advance 19,112 18,893 Deferred revenue 32,943 38,148 $52,055 $57,041 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
FAIR VALUE MEASUREMENTS [Abstract] | |
Financial instruments, measured at fair value | Fair value measurements at reporting date using Items As of December 31, 2020 Quoted Prices in Active for Identical (Level 1) Significant Other Observable (Level 2) Significant Unobservable Inputs (Level 3) Cash equivalents $ 173,655 $ 0 $ 173,655 $ 0 Restricted cash 330,791 0 330,791 0 Restricted time deposits 101,519 0 101,519 0 Short-term investments 100,745 0 100,745 0 Equity investments with readily determinable fair values 9,457 9,457 0 0 The following table sets forth the financial instruments, measured at fair value by level within the fair value hierarchy, as of December 31, 2021 (in thousands): Fair value measurements at reporting date using Items As of December 31, 2021 Quoted Prices in Active for Identical (Level 1) Significant Other Observable (Level 2) Significant Unobservable Inputs (Level 3) Cash equivalents $ 949,884 $ 0 $ 949,884 $ 0 Restricted cash 1,969 0 1,969 0 Short-term investments 399,345 0 399,345 0 Equity investments with readily determinable fair values 14,642 14,642 0 0 Long-term time deposits 189,007 0 189,007 0 |
Assets measured at fair value on nonrecurring basis | Fair value measurements at reporting date using Items As of Quoted Prices in Significant Other Significant Purchased video content recorded in prepaid and other assets $ 2,585 $ 0 $ 0 $ 2,585 Intangible assets, net 4,842 0 0 4,842 Goodwill 48,434 0 0 48,434 Fair value measurements at reporting date using Items As of Quoted Prices in Significant Other Significant Purchased video content recorded in prepaid and other assets $ 2,555 $ 0 $ 0 $ 2,555 Intangible assets, net 9,136 0 0 9,136 Goodwill 48,811 0 0 48,811 |
Lease (Tables)
Lease (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
LEASE [Abstract] | |
Components of operating lease expense | Components of operating lease expense are as follows (in thousands): Year ended December 31, 2020 2021 Operating lease expense $ 3,985 $ 2,952 Short-term lease expense 297 563 Total operating lease expense $ 4,282 $ 3,515 |
Cash paid for amounts included in the measurement of lease liabilities | Supplemental cash flow information related to leases are as follows (in thousands): Year ended December 31, 2020 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 3,206 $ 3,085 |
Right-of-use assets obtained in exchange for lease liabilities | Year ended December 31, 2020 2021 Right-of-use Operating leases $ 5,351 $ 2,620 |
Supplemental balance sheet information related to operating leases | The following table presents supplemental balance sheet information related to the operating leases (in thousands): Year ended December 31, 2020 2021 Assets: Operating lease right-of-use ass $ 4,998 $ 5,207 Liabilities: Current lease liabilities 1,107 1,999 Non-current lease 3,855 3,142 Total operating lease liabilities $ 4,962 $ 5,141 |
Maturities of lease liabilities under operating leases | Maturities of lease liabilities under operating leases as of December 31, 2021 are as follows (in thousands): 2022 $ 2,853 2023 2,240 2024 277 2025 98 202 6 0 Thereafter 0 Total future lease payments 5,468 Less: imputed interest 327 Total present value of lease liabilities $ 5,141 |
Fixed Assets (Tables)
Fixed Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
FIXED ASSETS [Abstract] | |
Fixed assets | The following table summarizes the Sohu Group’s fixed assets (in thousands): As of December 31, 2020 2021 Office buildings $ 392,045 $ 401,223 Computer equipment and hardware 132,021 123,079 Leasehold and building improvements 36,649 37,753 Office furniture 6,841 6,960 Vehicles 3,729 3,515 Fixed assets, gross 571,285 572,530 Accumulated depreciation (233,611 ) (242,533 ) Fixed assets, net $ 337,674 $ 329,997 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
GOODWILL [Abstract] | |
Change in the carrying value of goodwill by segment | Changes in the carrying value of goodwill by segment are as follows (in thousands): Sohu Changyou Total Balance as of December 31, 2019 Goodwill 69,379 180,543 249,922 Accumulated impairment losses (32,246 ) (170,286 ) (202,532 ) $ 37,133 $ 10,257 $ 47,390 Transactions in 2020 Foreign currency translation adjustment 1,044 0 1,044 Balance as of December 31, 2020 $ 38,177 $ 10,257 $ 48,434 Balance as of December 31, 2020 Goodwill 70,423 180,543 250,966 Accumulated impairment losses (32,246 ) (170,286 ) (202,532 ) $ 38,177 $ 10,257 $ 48,434 Transactions in 2021 Foreign currency translation adjustment 377 0 377 Balance as of December 31, 2021 $ 38,554 $ 10,257 $ 48,811 Balance as of December 31, 2021 Goodwill 70,800 180,543 251,343 Accumulated impairment losses (32,246 ) (170,286 ) (202,532 ) $ 38,554 $ 10,257 $ 48,811 |
Intangible Assets, Net (Tables)
Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
INTANGIBLE ASSETS, NET [Abstract] | |
Finite-lived intangible assets by major class | As of December 31, 2020 Items Gross Carrying Amount Accumulated Amortization Accumulated Impairment Net Carrying Amount Purchased video content $ 212,999 $ (161,160 ) $ (50,088 ) $ 1,751 Operating rights for licensed games 51,856 (35,017 ) (14,026 ) 2,813 Domain names and trademarks 27,536 (10,243 ) (17,219 ) 74 Computer software 11,749 (11,545 ) 0 204 Developed technologies 8,699 (918 ) (7,781 ) 0 Others 2,928 (966 ) (1,962 ) 0 Total $ 315,767 $ (219,849 ) $ (91,076 ) $ 4,842 As of December 31, 2021 Items Gross Carrying Amount Accumulated Amortization Accumulated Impairment Net Carrying Amount Purchased video content $ 138,902 $ (99,961 ) $ (37,343 ) $ 1,598 Operating rights for licensed games 60,454 (39,431 ) (13,895 ) 7,128 Domain names and trademarks 26,766 (10,240 ) (16,506 ) 20 Computer software 12,474 (12,084 ) 0 390 Developed technologies 8,879 (936 ) (7,943 ) 0 Others 2,996 (988 ) (2,008 ) 0 Total $ 250,471 $ (163,640 ) $ (77,695 ) $ 9,136 |
Expected amortization expense | As of December 31, 2021, amortization expenses for future periods are estimated to be as follows: For the year ended December 31, (in thousands) 2022 4,357 2023 3,761 2024 1,018 2025 0 2026 0 Thereafter 0 Total expected amortization expense $ 9,136 |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Components of income before income taxes | Year ended December 31, 2019 2020 2021 Income/(loss) before income tax expense Income/(loss) from China operations $ (89,150 ) $ 154,514 $ 153,708 Income/(loss) from non-China 19,079 (57,815 ) (22,141 ) Total income/(loss) before income tax expense from continuing operations $ (70,071 ) $ 96,699 $ 131,567 Income tax expense applicable to China operations Current tax $ 9,026 $ 24,255 $ 31,089 Deferred tax 11,191 102,652 26,207 Subtotal income tax expense applicable to China operations 20,217 126,907 57,296 Non-China 7,887 6,207 4,817 Non-China 324 112 183 Total income tax expense from continuing operations $ 28,428 $ 133,226 $ 62,296 |
Combined effects of the income tax exemption and reduction available | Year Ended December 31, 2019 2020 2021 Tax holiday effect $ 7,981 $ 16,174 $ 1,635 Basic net income per share effect 0.20 0.41 0.04 |
Reconciliation between the U.S. federal statutory rate and the Group's effective tax rate | Year Ended December 31, 2019 2020 2021 Statutory Rate: 25 % 25 % 25 % Effect of tax holidays applicable to subsidiaries and consolidated VIEs (1) 11 % (17 %) (1 %) Tax differential from statutory rate applicable to subsidiaries and consolidated VIEs 7 % 9 % 3 % Effect of withholding taxes (2) (12 %) 109 % 19 % Changes in valuation allowance for deferred tax assets (71 %) 27 % 31 % Research and development super-deduction 12 % (9 %) (19 %) Others (1 %) (13 %) (14 %) (29 %) 131 % 44 % Note (1): The reversal of income tax for preferential income tax rates that Changyou’s subsidiaries and VIEs were entitled to as KNSEs or Software Enterprises for 2019, 2020 and 2021 was included in the “Effect of tax holidays applicable to subsidiaries and consolidated VIEs” in the above table. Note (2): The revised policy was adopted to facilitate the distribution of a special cash dividend in the aggregate amount of approximately $500.0 million that was declared by Changyou’s board of directors (the “Changyou Board”) on April 5, 2018. The change for 2020 was mainly due to additional income withholding tax of $88 million that was recognized in the second quarter of 2020 due to a revised policy with respect to Changyou’s PRC subsidiaries regarding their distribution of cash dividends. |
Deferred tax assets and liabilities | Significant components of the Group’s deferred tax assets and liabilities consist of the following (in thousands): As of December 31, 2020 2021 Deferred tax assets: Net operating loss from operations $ 325,797 $ 291,380 Accrued bonus and commissions 10,613 9,101 Intangible assets transfer 690 485 Others 8,692 7,489 Total deferred tax assets 345,792 308,455 Less: Valuation allowance (326,755 ) (289,097 ) Net deferred tax assets $ 19,037 $ 19,358 Deferred tax liabilities Withholding tax for dividend $ (206,594 ) $ (237,116 ) Others (10,999 ) (12,049 ) Total deferred tax liabilities $ (217,593 ) $ (249,165 ) |
Movement of the valuation allowances | The following table sets forth the movement of the valuation allowances for deferred tax assets for the years presented (in thousands): For the Year Ended December 31, 2019 2020 2021 Beginning balance $ 250,524 283,711 326,755 Provision for the year 44,634 36,363 45,787 Reversal for the year (7,311 ) (12,637 ) (91,019 ) Foreign currency translation adjustment (4,136 ) 19,318 7,574 Ending balance $ 283,711 326,755 289,097 |
Uncertain tax positions | As of December 31, 2019 2020 2021 Beginning balance $ 174,363 $ 181,640 $ 188,760 Increases/(decreases) related to prior year tax positions 7,277 7,120 5,158 Increases related to current year tax positions 0 0 0 Ending balance $ 181,640 $ 188,760 $ 193,918 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
COMMITMENTS AND CONTINGENCIES [Abstract] | |
Commitments | The following table sets forth the Group’s commitments as of December 31, 2021 (in thousands): 2022 2023 2024 2025 2026 Thereafter Total Royalties and expenditures for licensed content of games $ 15,976 13,512 2,746 0 0 0 32,234 Purchase of bandwidth 14,418 1,029 455 0 0 0 15,902 Purchase of content and services - others 7,530 389 43 0 0 0 7,962 Purchase of content and services - video 6,387 0 0 0 0 0 6,387 Operating lease obligations 3,355 660 103 37 0 0 4,155 Others 3,796 0 0 0 0 0 3,796 Total Payments Required $ 51,462 15,590 3,347 37 0 0 70,436 |
VIEs (Tables)
VIEs (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
VIES [Abstract] | |
Financial information of consolidated VIEs | As of December 31, 2020 2021 ASSETS: Cash and cash equivalents $ 47,028 $ 32,513 Restricted cash 1,211 0 Short-term investments 153 0 Accounts receivable, net 47,234 36,027 Prepaid and other current assets 15,385 18,836 Intra-Group receivables due from the Company’s subsidiaries 506,659 647,330 Assets held for sale (current) 113,011 0 Total current assets 730,681 734,706 Fixed assets, net 295 427 Other non-current 69,284 86,744 Total assets $ 800,260 $ 821,877 LIABILITIES: Accounts payable $ 11,145 $ 12,325 Accrued liabilities 46,888 43,695 Receipts in advance and deferred revenue 43,076 45,844 Other current liabilities 37,148 24,026 Intra-Group payables due to the Company’s subsidiaries 350,599 462,487 Liabilities held for sale (current) 187,712 0 Total current liabilities 676,568 588,377 Long-term tax liabilities 14,134 14,465 Deferred tax liabilities 2,014 3,323 Other non-current liabilities 1,819 1,750 Total liabilities $ 694,535 $ 607,915 Year Ended December 31, 2019 2020 2021 Revenues: Third-party revenues $ 482,283 $ 552,980 $ 664,823 Intra-Group revenues 29,674 30,207 21,488 Total revenues 511,957 583,187 686,311 Cost of revenues: Third-party cost of revenues 101,044 93,333 81,725 Intra-Group cost of revenues 139,765 141,717 136,221 Total cost of revenues 240,809 235,050 217,946 Operating expenses: Third-party operating expenses 69,131 50,983 72,126 Intra-Group operating expenses 184,799 254,796 366,762 Total operating expenses 253,930 305,779 438,888 Net income from continuing operations 19,607 41,756 35,805 Net loss from discontinued operations (1,491 ) (82,329 ) (47,924 ) Year ended December 31, 2019 2020 2021 Cash flows from operating activities: Net cash provided by transactions with external parties $ 334,903 $ 459,263 $ 541,172 Net cash used in transactions with intra-Group entities (310,243 ) (379,649 ) (505,553 ) Net cash provided by continuing operating activities 24,660 79,614 35,619 Net cash used in discontinued operating activities (5,046 ) (13,244 ) (1,789 ) Net cash provided by operating activities 19,614 66,370 33,830 Cash flows from investing activities: Net cash used in transactions with external parties (13,272 ) (773 ) (23,887 ) Net cash used in transactions with intra-Group entities (40,426 ) (106,321 ) (140,671 ) Net cash used in continuing investing activities (53,698 ) (107,094 ) (164,558 ) Net cash provided by/(used in) discontinued investing activities (18,040 ) 7,797 12,116 Net cash used in investing activities (71,738 ) (99,297 ) (152,442 ) Cash flows from financing activities: Net cash provided by transactions with intra-Group entities 26,559 32,751 111,888 Net cash provided by continuing financing activities 26,559 32,751 111,888 Net cash provided by/(used in) discontinued financing activities 8,601 152 (9,131 ) Net cash provided by financing activities 35,160 32,903 102,757 |
Sohu.com Limited Shareholders_2
Sohu.com Limited Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Sohu.com Limited's outstanding shares | Number of Outstanding Shares 2019 2020 2021 Balance, beginning of year 39,229 39,269 39,306 Issuances: 40 37 44 Repurchases: 0 0 (1,129 ) Balance, end of year 39,269 39,306 38,221 |
Sohu 2018 Share Incentive Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share option activity | Weighted Number Weighted Average Aggregate Of Average Remaining Intrinsic Shares Exercise Contractual Value (1) Options (in thousands) Price Life (Years) (in thousands) Outstanding as of January 1, 2021 197 $ 0.001 $ Granted 113 0.001 Exercised (39 ) 0.001 Forfeited or expired 0 Outstanding as of December 31, 2021 271 0.001 5.87 4,412 Vested as of December 31, 2021 271 0.001 5.87 4,412 Exercisable as of December 31, 2021 271 0.001 5.87 4,412 Note (1): The aggregated intrinsic value in the preceding table represents the difference between Sohu’s closing ADS price of $16.28 on December 31, 2021 and the nominal exercise price of the options. |
Sohu Video Share Incentive Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Stock option assumptions | Assumptions Adopted 2020 2021 Average risk-free interest rate 1.11 % 0.59 % Exercise multiple 2.8 2.8 Expected forfeiture rate (post-vesting) 5 % 2 % Weighted average expected option life 1.0 0 Volatility rate 57.3 % 97.3 % Dividend yield 0 0 Fair value 0.21 0 |
Noncontrolling Interest (Tables
Noncontrolling Interest (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
NONCONTROLLING INTEREST [Abstract] | |
Noncontrolling interest in the consolidated balance sheets | As of December 31, 2020 2021 Changyou $ 1,321 $ 1,318 Sogou 683,291 0 Total $ 684,612 $ 1,318 |
Noncontrolling interest in the consolidated statements of comprehensive income /(loss) | Year Ended December 31, 2019 2020 2021 Changyou $ 46,990 $ 18,448 $ (3 ) Sogou 58,955 (60,656 ) 6,451 Total $ 105,945 $ (42,208 ) $ 6,448 Year Ended December 31, 2019 2020 2021 Net income /(loss) from continuing operations attributable to noncontrolling shareholders $ 58,223 $ 18,448 $ (3 ) Net income/(loss) from discontinued operations attributable to noncontrolling 47,722 (60,656 ) 6,451 Net income/(loss) attributable to noncontrolling interest shareholders $ 105,945 $ (42,208 ) $ 6,448 |
Net Income_(Loss) per Share (Ta
Net Income/(Loss) per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
NET INCOME/(LOSS) PER SHARE [Abstract] | |
Calculation of basic and diluted net loss per share | The following table presents the calculation of the Sohu Group’s basic and diluted net loss per share (in thousands, except per share data). Year Ended December 31, 2019 2020 2021 Numerator: Net income/(loss) from continuing operations attributable to Sohu.com Limited, $ (156,722 ) $ (54,975 ) $ 69,274 Net income/(loss) from discontinued operations attributable to Sohu.com Limited, 7,386 (31,137 ) 858,451 Net income/(loss) attributable to Sohu.com Limited, basic (149,336 ) (86,112 ) 927,725 Effect of dilutive securities: Incremental dilution from Changyou (507 ) (392 ) 0 Incremental dilution from Sogou (606 ) 0 (20 ) Net income/(loss) from continuing operations attributable to Sohu.com Limited, (157,282 ) (55,365 ) 69,274 Net income/(loss) from discontinued operations attributable to Sohu.com Limited, 6,833 (31,139 ) 858,431 Net income/(loss) attributable to Sohu.com Limited, diluted $ (150,449 ) $ (86,504 ) $ 927,705 Denominator: Weighted average basic ordinary shares outstanding 39,249 39,452 39,501 Effect of dilutive securities: Share options and restricted share units 0 0 0 Weighted average diluted ordinary shares outstanding $ 39,249 $ 39,452 $ 39,501 Basic net income/(loss) per share attributable to Sohu.com Limited Continuing operations $ (3.99 ) $ (1.39 ) $ 1.75 Discontinued operations 0.19 (0.79 ) 21.74 Net income/(loss) per share (3.80 ) (2.18 ) 23.49 Diluted net income/(loss) per share attributable to Sohu.com Limited Continuing operations $ (4.01 ) $ (1.40 ) $ 1.75 Discontinued operations 0.18 (0.79 ) 21.74 Net income/(loss) per share (3.83 ) (2.19 ) 23.49 |
The Company and Nature of Ope_3
The Company and Nature of Operations (Details) - USD ($) $ / shares in Units, $ in Millions | Sep. 23, 2021 | Apr. 17, 2020 |
Tencent/Sohu Sogou Share Purchase [Member] | ||
Organization and Nature of Operations [Line Items] | ||
Sale of stock, Consideration received on transaction | $ 1,180 | |
Changyou [Member] | ||
Organization and Nature of Operations [Line Items] | ||
Voting power held by the Company | 100.00% | |
Changyou Merger [Member] | Changyou [Member] | Sohu.com Limited [Member] | ||
Organization and Nature of Operations [Line Items] | ||
Voting power held by the Company | 100.00% | |
Ordinary Shares [Member] | Changyou Merger [Member] | Changyou [Member] | Sohu.com Limited [Member] | ||
Organization and Nature of Operations [Line Items] | ||
Percentage of outstanding equity capital held by the Company | 100.00% | |
Class A Ordinary Shares and Class B Ordinary Shares [Member] | Sohu Search [Member] | Tencent/Sohu Sogou Share Purchase [Member] | ||
Organization and Nature of Operations [Line Items] | ||
Sale of stock, price per share | $ 9 |
The Company and Nature of Ope_4
The Company and Nature of Operations (Information of Subsidiaries and VIEs) (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Sohu.com (Hong Kong) Limited [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Apr. 19, 2000 |
Place of Incorporation/Acquisition | Hong Kong |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Beijing Sohu New Era Information Technology Co., Ltd. ("Sohu Era") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Jul. 25, 2003 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Sohu.com (Search) Limited ("Sohu Search") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Oct. 28, 2005 |
Place of Incorporation/Acquisition | Cayman Islands |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Beijing Sohu New Media Information Technology Co., Ltd. ("Sohu Media") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Jun. 19, 2006 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Sohu.com (Game) Limited ("Sohu Game") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Feb. 11, 2008 |
Place of Incorporation/Acquisition | Cayman Islands |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Beijing Sohu New Momentum Information Technology Co., Ltd. ("Sohu New Momentum") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | May 31, 2010 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Fox Video Limited ("Sohu Video") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Jul. 26, 2011 |
Place of Incorporation/Acquisition | Cayman Islands |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Fox Information Technology (Tianjin) Limited ("Video Tianjin") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Nov. 17, 2011 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Sohu Focus Limited [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Jul. 11, 2013 |
Place of Incorporation/Acquisition | Cayman Islands |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Sohu Focus (HK) Limited ("Focus HK") | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Jul. 26, 2013 |
Place of Incorporation/Acquisition | Hong Kong |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Changyou.com Limited ("Changyou") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Aug. 6, 2007 |
Place of Incorporation/Acquisition | Cayman Islands |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Changyou.com (HK) Limited ("Changyou HK") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Aug. 13, 2007 |
Place of Incorporation/Acquisition | Hong Kong |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Beijing AmazGame Age Internet Technology Co., Ltd. ("AmazGame") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Sep. 26, 2007 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Beijing Changyou Gamespace Software Technology Co., Ltd. ("Gamespace") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Oct. 29, 2009 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Changyou.com Korea LLC [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Jan. 7, 2010 |
Place of Incorporation/Acquisition | Korea |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Beijing Changyou Chuangxiang Software Technology Co., Ltd. ("Changyou Chuangxiang") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Nov. 8, 2016 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Beijing Century High-Tech Investment Co., Ltd. ("High Century") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Dec. 28, 2001 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Beijing Heng Da Yi Tong Information Technology Co., Ltd. ("Heng Da Yi Tong") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Feb. 7, 2002 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Beijing Sohu Internet Information Service Co., Ltd. ("Sohu Internet") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Jul. 31, 2003 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Beijing Sohu Donglin Advertising Co., Ltd. ("Donglin") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | May 17, 2010 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Tianjin Jinhu Culture Development Co., Ltd ("Tianjin Jinhu") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Nov. 24, 2011 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Beijing Focus Interactive Information Service Co., Ltd. ("Focus Interactive") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Jul. 15, 2014 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Guangzhou Qianjun Network Technology Co., Ltd. ("Guangzhou Qianjun") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Nov. 25, 2014 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Beijing Gamease Age Digital Technology Co., Ltd. ("Gamease") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Aug. 23, 2007 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Shanghai ICE Information Technology Co., Ltd. ("Shanghai ICE") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | May 28, 2010 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
Beijing Guanyou Gamespace Digital Technology Co., Ltd. ("Guanyou Gamespace") [Member] | |
Organization and Nature of Operations [Line Items] | |
Date of Incorporation/Acquisition | Aug. 5, 2010 |
Place of Incorporation/Acquisition | People’s Republic of China |
Effective Interest held through equity ownership/contractual arrangements | 100.00% |
The Company and Nature of Ope_5
The Company and Nature of Operations (Changyou's Business) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 17, 2020 | |
Organization and Nature of Operations [Line Items] | ||||
Revenues | $ 835,576 | $ 749,890 | $ 673,803 | |
TLBB PC [Member] | ||||
Organization and Nature of Operations [Line Items] | ||||
Revenues | 421,700 | |||
Legacy TLBB Mobile [Member] | ||||
Organization and Nature of Operations [Line Items] | ||||
Revenues | $ 79,500 | |||
Product Risk [Member] | Total revenues [Member] | TLBB PC [Member] | ||||
Organization and Nature of Operations [Line Items] | ||||
Percentage of concentration risk | 50.00% | |||
Product Risk [Member] | Total revenues [Member] | Legacy TLBB Mobile [Member] | ||||
Organization and Nature of Operations [Line Items] | ||||
Percentage of concentration risk | 10.00% | |||
Changyou [Member] | ||||
Organization and Nature of Operations [Line Items] | ||||
Voting power held by the Company | 100.00% | |||
Changyou [Member] | Sohu.com Limited [Member] | Changyou Merger [Member] | ||||
Organization and Nature of Operations [Line Items] | ||||
Voting power held by the Company | 100.00% | |||
Changyou [Member] | Ordinary Shares [Member] | Sohu.com Limited [Member] | Changyou Merger [Member] | ||||
Organization and Nature of Operations [Line Items] | ||||
Percentage of outstanding equity capital held by the Company | 100.00% | |||
Changyou [Member] | Product Risk [Member] | Online game revenues [Member] | TLBB PC [Member] | ||||
Organization and Nature of Operations [Line Items] | ||||
Percentage of concentration risk | 66.00% | |||
Changyou [Member] | Product Risk [Member] | Online game revenues [Member] | Legacy TLBB Mobile [Member] | ||||
Organization and Nature of Operations [Line Items] | ||||
Percentage of concentration risk | 12.00% | |||
Changyou [Member] | Product Risk [Member] | Total revenues [Member] | TLBB PC [Member] | ||||
Organization and Nature of Operations [Line Items] | ||||
Percentage of concentration risk | 65.00% | |||
Changyou [Member] | Product Risk [Member] | Total revenues [Member] | Legacy TLBB Mobile [Member] | ||||
Organization and Nature of Operations [Line Items] | ||||
Percentage of concentration risk | 12.00% |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Noncontrolling Interest Recognition) (Details) - Changyou [Member] | Apr. 17, 2020 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Percentage of ordinary shares held | 100.00% |
Voting power held by the Company | 100.00% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Revenue Recognition, Adoption of ASC 606, Revenues Disaggregated by Products and Services) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | $ 835,576 | $ 749,890 | $ 673,803 |
ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 835,576 | 749,890 | 673,803 |
Sohu [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 186,606 | 201,544 | 218,423 |
Changyou [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 648,970 | 548,346 | 455,380 |
Brand advertising [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 134,967 | 146,526 | 175,056 |
Sohu Media Portal [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 75,408 | 86,293 | 94,692 |
Sohu Media Portal [Member] | Sohu [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 75,408 | 86,293 | 94,692 |
Sohu Media Portal [Member] | Changyou [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 0 | 0 | 0 |
Sohu Video [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 26,803 | 25,312 | 34,529 |
Sohu Video [Member] | Sohu [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 26,803 | 25,312 | 34,529 |
Sohu Video [Member] | Changyou [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 0 | 0 | 0 |
Focus [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 22,013 | 23,281 | 32,120 |
Focus [Member] | Sohu [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 22,013 | 23,281 | 32,120 |
Focus [Member] | Changyou [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 0 | 0 | 0 |
17173.com Website [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 10,743 | 11,640 | 13,715 |
17173.com Website [Member] | Sohu [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 0 | 0 | 0 |
17173.com Website [Member] | Changyou [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 10,743 | 11,640 | 13,715 |
Online games [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 638,225 | 536,684 | 440,902 |
PC games [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 469,332 | 353,737 | 267,752 |
PC games [Member] | Sohu [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 0 | 0 | 0 |
PC games [Member] | Changyou [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 469,332 | 353,737 | 267,752 |
Mobile games [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 168,893 | 182,947 | 172,718 |
Mobile games [Member] | Sohu [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 0 | 0 | 0 |
Mobile games [Member] | Changyou [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 168,893 | 182,947 | 172,718 |
Other games [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 432 | ||
Other games [Member] | Sohu [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 0 | ||
Other games [Member] | Changyou [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 432 | ||
Others [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 62,384 | 66,680 | 57,845 |
Others [Member] | Sohu [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | 62,382 | 66,658 | 57,082 |
Others [Member] | Changyou [Member] | ASC 606 [Member] | |||
Revenues Disaggregated by Products and Services [Line Items] | |||
Revenues | $ 2 | $ 22 | $ 763 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Revenue Recognition, Contract Balances) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ||
Allowance for doubtful accounts and authorized credits | $ 12.4 | $ 7 |
Amount of revenue recognized that included in receipts in advance and deferred revenue | $ 46.4 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies (Share-based Compensation Expense) (Details) - USD ($) $ / shares in Units, $ in Millions | Apr. 17, 2020 | Jan. 04, 2012 | Jan. 04, 2012 | Dec. 31, 2021 |
Sohu Video Sharebased Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Jan. 4, 2022 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
Changyou 2014 Share Incentive Plan [Member] | Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share options granted | 4,488,500 | |||
Cumulative share based compensation expense | $ 4.1 | |||
Changyou 2019 Share Incentive Plan [Member] | Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share options granted | 954,500 | |||
Sohu Video Share Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Installments of share options granted | four equal installments | |||
Sohu (excluding Sohu Video) [Member] | Sohu 2018 Share Incentive Plan [Member] | Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Installments of share options granted | four equal installments | |||
Award vesting period | 4 years | |||
Changyou [Member] | Class A Ordinary Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options exercises in Period, Fixed Price | $ 5.39 | |||
Changyou [Member] | Class A Ordinary Shares [Member] | Changyou Merger [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Consideration Per Share | $ 5.40 | |||
Changyou [Member] | Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share options granted | 5,443,000 | |||
Changyou [Member] | Stock Options [Member] | Class A Ordinary Shares [Member] | Changyou Merger [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Exercise prices of option granted | 0.01 | |||
Long term Debt include Accrued over the Service Period Liability | 5.39 | $ 5.39 | ||
Changyou [Member] | Changyou 2014 Share Incentive Plan [Member] | Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Installments of share options granted | four equal installments | |||
Award vesting period | 4 years | |||
Changyou [Member] | Changyou 2014 Share Incentive Plan [Member] | Stock Options [Member] | Class A Ordinary Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Installments of share options granted | four equal installments | |||
Changyou [Member] | Changyou 2014 Share Incentive Plan [Member] | Stock Options [Member] | Class A Ordinary Shares [Member] | Changyou Merger [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Accrued fixed price, initial | 5.39 | |||
Accrued fixed price, final | 5.39 | |||
Consideration Per Share | 5.40 | |||
Exercise prices of option granted | 0.01 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Fixed Price | 5.39 | |||
Changyou [Member] | Changyou 2019 Share Incentive Plan [Member] | Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Installments of share options granted | four equal installments | |||
Award vesting period | 4 years | |||
Changyou [Member] | Changyou 2019 Share Incentive Plan [Member] | Stock Options [Member] | Class A Ordinary Shares [Member] | Changyou Merger [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Accrued fixed price, initial | 5.39 | |||
Accrued fixed price, final | 5.39 | |||
Changyou [Member] | Changyou 2014 and 2019 Share Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Cumulative share based compensation expense | $ 23.5 | |||
Changyou [Member] | Changyou 2014 and 2019 Share Incentive Plan [Member] | Stock Options [Member] | Class A Ordinary Shares [Member] | Changyou Merger [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Accrued fixed price, initial | 5.39 | |||
Accrued fixed price, final | 5.39 | |||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Not Exercisable in Period, Conditionally Repurchased, Exercise Price | 5.39 | |||
Sohu Video [Member] | Video 2011 Share Incentive Plan [Member] | Stock Options [Member] | Ordinary Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Installments of share options granted | four equal installments | |||
Number of shares authorized for issuance | 25,000,000 | 25,000,000 | ||
Percentage of outstanding ordinary shares on a fully-diluted basis | 10.00% | |||
Number of shares under contractually granted share options | 16,368,200 | |||
Number of shares purchased on vested options | 4,972,800 | |||
Sohu Video [Member] | Sohu Video Share Incentive Plan [Member] | Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Jan. 4, 2022 | |||
Sohu Video [Member] | Sohu Video Share Incentive Plan [Member] | Stock Options [Member] | Ordinary Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Installments of share options granted | four equal installments | |||
Number of shares under contractually granted share options | 16,368,200 | |||
Number of shares purchased on vested options | 4,972,800 | |||
Changyou Com Limited [Member] | Stock Options [Member] | Class A Ordinary Shares [Member] | Changyou Merger [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Accrued fixed price, final | $ 5.39 |
Summary Of Significant Accoun_8
Summary Of Significant Accounting Policies (Taxation&Net Income/(Loss) per Share&Short-term Investments) (Details) - USD ($) $ / shares in Units, $ in Millions | Apr. 17, 2020 | Dec. 31, 2017 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Withholding tax rate on dividends, foreign invested enterprises to foreign holding companies | 10.00% | ||||||
Statutory income tax rate | 25.00% | 25.00% | 25.00% | ||||
Class A ordinary shares [Member] | Changyou [Member] | Changyou Merger [Member] | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Consideration Per Share | $ 5.40 | ||||||
Class A ordinary shares [Member] | Share Options [Member] | Changyou [Member] | Changyou Merger [Member] | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Exercise Price of Shares | 0.01 | ||||||
Changyou 2014 and 2019 Share Incentive Plan [Member] | Class A ordinary shares [Member] | Share Options [Member] | Changyou [Member] | Changyou Merger [Member] | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Share-based compensation by share based payment arrangement per share weighted average price per share | 5.39 | ||||||
Accrued fixed price, initial | 5.39 | ||||||
Accrued fixed price, final | 5.39 | ||||||
Changyou 2014 Share Incentive Plan [Member] | Class A ordinary shares [Member] | Share Options [Member] | Changyou [Member] | Changyou Merger [Member] | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Weighted Average Exercise Price, Exercised | 5.39 | ||||||
Consideration Per Share | 5.40 | ||||||
Exercise Price of Shares | 0.01 | ||||||
Share-based compensation by share based payment arrangement per share weighted average price per share | 5.39 | ||||||
Accrued fixed price, initial | 5.39 | ||||||
Accrued fixed price, final | $ 5.39 | ||||||
Sohu [Member] | Ordinary Shares [Member] | Changyou [Member] | Changyou Merger [Member] | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Effective Interest held | 100.00% | ||||||
Minimum [Member] | Time Deposit [Member] | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Restricted Investment Maturity Period | 3 months | ||||||
Minimum [Member] | Long Term Time Deposit [Member] | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Restricted Investment Maturity Period | 1 year | ||||||
Maximum [Member] | Time Deposit [Member] | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Restricted Investment Maturity Period | 1 year | ||||||
Thereafter tax years after December 31,2017 [Member] | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Statutory income tax rate | 21.00% | ||||||
Prior tax years before December 31,2017 [Member] | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Statutory income tax rate | 35.00% | ||||||
HONG KONG | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Preferential withholding tax rate on dividends, foreign invested enterprises | 5.00% | ||||||
UNITED STATES | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Provisional amount of income tax expense recognized for the Toll Charge | $ 219 | ||||||
Reduction in liability for deferred income tax | $ 4 | ||||||
Unrecognized tax benefit recorded | $ 142 | ||||||
Interest in connection with unrecognized tax benefit | $ 5 | $ 6 | |||||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | $ 77 | ||||||
UNITED STATES | Thereafter tax years after December 31,2017 [Member] | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Statutory income tax rate | 21.00% | ||||||
UNITED STATES | Prior tax years before December 31,2017 [Member] | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Statutory income tax rate | 35.00% | ||||||
CHINA | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Withholding tax rate on dividends, foreign invested enterprises to foreign holding companies | 10.00% | ||||||
State Administration of Taxation, China [Member] | |||||||
Taxation&Net Income/(Loss) per Share&Short-term Investments[Line Items] | |||||||
Value-added tax rate | 6.00% | ||||||
Statutory income tax rate | 25.00% |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies (Schedule Of Account Receivables) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ||||
Accounts receivable | $ 94,908 | $ 94,528 | ||
Allowance for credit losses | (12,358) | (7,007) | $ (3,956) | $ (7,574) |
Total | $ 82,550 | $ 87,521 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies (Schedule Of Accounts Receivable Current Overdue Details) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Accounts Receivable Current Overdue Details [Line Items] | ||
Accounts receivable, net | $ 94,908 | $ 94,528 |
Less than 179 days | ||
Accounts Receivable Current Overdue Details [Line Items] | ||
Accounts receivable, net | 79,155 | 78,805 |
180-359 days | ||
Accounts Receivable Current Overdue Details [Line Items] | ||
Accounts receivable, net | 7,437 | 7,569 |
360 days and greater | ||
Accounts Receivable Current Overdue Details [Line Items] | ||
Accounts receivable, net | $ 8,316 | $ 8,154 |
Summary of Significant Accou_11
Summary of Significant Accounting Policies (Allowance For Credit Losses On Financing Receivables) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ||||
Beginning balance | $ 7,007 | $ 3,956 | $ 7,574 | |
Changes on initial application of ASU 2016-13 | [1] | 0 | 3,383 | 0 |
Additional allowance for credit losses, net of recoveries | 6,292 | 2,419 | 4,724 | |
Write-offs | (1,155) | (3,231) | (8,237) | |
Exchange difference | 214 | 480 | (105) | |
Ending balance | $ 12,358 | $ 7,007 | $ 3,956 | |
[1] | The Company adopted ASU 2016-13 using the modified retrospective transition approach. The adjustments arising from the new CECL model are recognized in the opening Consolidated Balance Sheet on January 1, 2020. |
Summary of Significant Accou_12
Summary of Significant Accounting Policies (Estimated Useful Lives of Fixed Assets) (Details) | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Office buildings [Member] | |
Property, Plant and Equipment [Line Items] | |
Fixed assets, residual value | $ 0 |
Estimated Useful Lives (years) | 36-47 |
Leasehold improvements [Member] | |
Property, Plant and Equipment [Line Items] | |
Fixed assets, residual value | $ 0 |
Estimated Useful Lives (years) | Lesser of term of the lease or the estimated useful lives of the assets |
Vehicles [Member] | |
Property, Plant and Equipment [Line Items] | |
Fixed assets, residual value | $ 0 |
Estimated Useful Lives (years) | 4 |
Office furniture [Member] | |
Property, Plant and Equipment [Line Items] | |
Fixed assets, residual value | $ 0 |
Estimated Useful Lives (years) | 5 |
Computer equipment and hardware [Member] | |
Property, Plant and Equipment [Line Items] | |
Fixed assets, residual value | $ 0 |
Estimated Useful Lives (years) | 4-5 |
Summary of Significant Accou_13
Summary of Significant Accounting Policies (Estimated Useful Lives of Intangible Assets) (Details) | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Purchased video content [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, residual value | $ 0 |
Estimated Useful Lives (years) | 1 month to 2 years |
Computer software [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, residual value | $ 0 |
Estimated Useful Lives (years) | 1-5 |
Developed technologies [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, residual value | $ 0 |
Estimated Useful Lives (years) | 3-10 |
Domain names and trademarks [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, residual value | $ 0 |
Estimated Useful Lives (years) | 4-30 |
Operating rights for licensed games [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, residual value | $ 0 |
Estimated Useful Lives (years) | over the contract terms |
Summary of Significant Accou_14
Summary of Significant Accounting Policies (Lease) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2019 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Amount of right-of-use asset expected to be recorded after adoption of ASU 2016-02 | $ 5,207 | $ 4,998 | |
Amount of lease liability expected to be recorded after adoption of ASU 2016-02 | $ 5,141 | $ 4,962 | |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Liabilities | Liabilities | Liabilities |
Accounting Standards Update 2016-02 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Amount of right-of-use asset expected to be recorded after adoption of ASU 2016-02 | $ 7,400 | ||
Amount of lease liability expected to be recorded after adoption of ASU 2016-02 | 6,700 | ||
Amount of right-of-use asset on assets held for sale expected to be recorded after adoption of ASU 2016-02 | 17,900 | ||
Amount of lease liability on liabilities held for sale expected to be recorded of ASU 2016-02 | $ 16,200 |
Discontinued Operations (Detail
Discontinued Operations (Details) - USD ($) | Dec. 31, 2021 | Sep. 23, 2021 | Jan. 31, 2011 | May 31, 2010 | Jun. 30, 2019 | Dec. 31, 2011 | Dec. 31, 2021 | [1] | Dec. 31, 2020 | Dec. 31, 2019 |
Discontinued Operations [Line Items] | ||||||||||
Depreciation and amortization expense | $ 17,000,000 | $ 46,700,000 | ||||||||
Sogou [Member] | ||||||||||
Discontinued Operations [Line Items] | ||||||||||
Disposal gain/loss | $ 855,000,000 | $ 855,009,000 | $ 0 | $ 0 | ||||||
Changyou [Member] | ||||||||||
Discontinued Operations [Line Items] | ||||||||||
Disposal gain/loss | $ 0 | $ 0 | ||||||||
Changyou [Member] | Shanghai Jingmao Culture Communication Co., Ltd. ("Shanghai Jingmao") and its affiliate [Member] | Cinema Advertising [Member] | ||||||||||
Discontinued Operations [Line Items] | ||||||||||
Percentage of acquired equity interests | 50.00% | 50.00% | ||||||||
Changyou [Member] | Shanghai Jingmao Culture Communication Co., Ltd. ("Shanghai Jingmao") and its affiliate [Member] | Cinema Advertising [Member] | ||||||||||
Discontinued Operations [Line Items] | ||||||||||
Total cash consideration | $ 3,000,000 | |||||||||
Goodwill impairment loss | $ 5,200,000 | |||||||||
Asset impairment charge | $ 17,000,000 | |||||||||
[1] | Includes the financial results of the discontinued operations from January 1, 2021 to September 23, 2021. |
Discontinued Operations (Balanc
Discontinued Operations (Balance Sheet Information of Discontinued Operations) (Details) - Sogou [Member] $ in Thousands | Dec. 31, 2020USD ($) |
ASSETS | |
Cash and cash equivalents | $ 287,185 |
Restricted cash | 23,018 |
Short-term investments | 774,618 |
Account and financing receivables, net | 73,656 |
Prepaid and other current assets | 28,946 |
Long-term investments, net | 74,004 |
Fixed assets, net | 89,089 |
Goodwill | 6,527 |
Intangible assets, net | 1,446 |
Other assets | 53,679 |
Total assets associated with discontinued operations | 1,412,168 |
LIABILITIES | |
Accounts payable | 122,695 |
Accrued liabilities | 68,582 |
Receipts in advance | 64,414 |
Accrued salary and benefits | 25,350 |
Taxes payable | 64,082 |
Other short-term liabilities | 61,154 |
Long-term liabilities | 10,721 |
Total liabilities associated with discontinued operations | $ 416,998 |
Discontinued Operations (Compre
Discontinued Operations (Comprehensive Income Information of Discontinued Operations) (Details) - USD ($) | Sep. 23, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Discontinued Operations [Line Items] | ||||||
Net income/(loss) from discontinued operations, net of tax | $ 864,902,000 | $ (91,793,000) | $ 55,108,000 | |||
Sogou [Member] | ||||||
Discontinued Operations [Line Items] | ||||||
Revenues | 407,607,000 | [1] | 924,664,000 | 1,172,252,000 | ||
Cost of revenues | 274,408,000 | [1] | 722,614,000 | 738,454,000 | ||
Gross profit/(loss) | 133,199,000 | [1] | 202,050,000 | 433,798,000 | ||
Operating expenses: | 206,841,000 | [1] | 325,170,000 | 369,363,000 | ||
Operating profit/(loss) | (73,642,000) | [1] | (123,120,000) | 64,435,000 | ||
Interest income | 2,377,000 | [1] | 2,807,000 | 4,443,000 | ||
Interest expense | (761,000) | [1] | 0 | 0 | ||
Foreign currency exchange gain/(loss) | (848,000) | [1] | (7,767,000) | 1,849,000 | ||
Other income/(expense), net | 81,655,000 | [1] | 38,633,000 | 21,127,000 | ||
Income/(loss) from discontinued operations before income tax expense | 8,781,000 | [1] | (89,447,000) | 91,854,000 | ||
Income tax expense/(benefit) | (1,112,000) | [1] | 2,346,000 | 2,748,000 | ||
Results of operations from discontinued operations, net of tax | 9,893,000 | [1] | (91,793,000) | 89,106,000 | ||
Gain on disposal of discontinued operations | $ 855,000,000 | 855,009,000 | [1] | 0 | 0 | |
Net income/(loss) from discontinued operations, net of tax | 864,902,000 | [1] | (91,793,000) | 89,106,000 | ||
Sogou [Member] | Research and Development Expense [Member] | ||||||
Discontinued Operations [Line Items] | ||||||
Operating expenses: | [2] | 141,506,000 | [1] | 193,376,000 | 190,402,000 | |
Sogou [Member] | Sales and marketing [Member] | ||||||
Discontinued Operations [Line Items] | ||||||
Operating expenses: | [2] | 53,481,000 | [1] | 102,523,000 | 138,291,000 | |
Sogou [Member] | General and administrative [Member] | ||||||
Discontinued Operations [Line Items] | ||||||
Operating expenses: | [2] | $ 11,854,000 | [1] | 29,271,000 | 40,670,000 | |
Changyou [Member] | ||||||
Discontinued Operations [Line Items] | ||||||
Gain on disposal of discontinued operations | $ 0 | 0 | ||||
Changyou [Member] | Shanghai Jingmao Culture Communication Co., Ltd. ("Shanghai Jingmao") and its affiliate [Member] | ||||||
Discontinued Operations [Line Items] | ||||||
Revenues | [3] | 37,323,000 | ||||
Cost of revenues | [3] | 43,857,000 | ||||
Gross profit/(loss) | [3] | (6,534,000) | ||||
Operating expenses: | [3] | 27,390,000 | ||||
Operating profit/(loss) | [3] | (33,924,000) | ||||
Interest income | [3] | 7,000 | ||||
Other income/(expense), net | [3] | 61,000 | ||||
Income/(loss) from discontinued operations before income tax expense | [3] | (33,856,000) | ||||
Income tax expense/(benefit) | [3] | 142,000 | ||||
Net income/(loss) from discontinued operations, net of tax | [3] | (33,998,000) | ||||
Changyou [Member] | Shanghai Jingmao Culture Communication Co., Ltd. ("Shanghai Jingmao") and its affiliate [Member] | Sales and marketing [Member] | ||||||
Discontinued Operations [Line Items] | ||||||
Operating expenses: | [3] | 8,807,000 | ||||
Changyou [Member] | Shanghai Jingmao Culture Communication Co., Ltd. ("Shanghai Jingmao") and its affiliate [Member] | General and administrative [Member] | ||||||
Discontinued Operations [Line Items] | ||||||
Operating expenses: | [3] | $ 18,583,000 | ||||
[1] | Includes the financial results of the discontinued operations from January 1, 2021 to September 23, 2021. | |||||
[2] | Expenses generated from marketing services among the Sohu and Sogou, and leasing expenses generated from a building that Sohu leases to Sogou are not eliminated because those expenses are considered to continue after the disposal of the discontinued operations. | |||||
[3] | Includes the financial results of the discontinued operations from January 1, 2019 to August 12, 2019. |
Discontinued Operations - Sched
Discontinued Operations - Schedule Of Effective Income tax Rate Of Discontinued Operations (Detail) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Effective Income Tax Rate Discontinued Operations Tax Rate Reconciliation | ||||
Statutory Rate: | 25.00% | 25.00% | 25.00% | |
Sogou [Member] | ||||
Effective Income Tax Rate Discontinued Operations Tax Rate Reconciliation | ||||
Statutory Rate: | 25.00% | [1],[2] | 25.00% | 25.00% |
Effect of tax holidays applicable to subsidiaries and consolidated VIEs | 127.00% | [1],[2] | (18.00%) | (2.00%) |
Tax differential from statutory rate applicable to subsidiaries and consolidated VIEs | (90.00%) | [1],[2] | (3.00%) | 3.00% |
Changes in valuation allowance for deferred tax assets | 349.00% | [1],[2] | (43.00%) | 7.00% |
Research and development super-deduction and other permanent book-tax differences | (249.00%) | [1],[2] | 35.00% | (25.00%) |
Capital gains from equity investments | (175.00%) | [1],[2] | 1.00% | (5.00%) |
Effective Income Tax Rate Discontinued Operations | (13.00%) | [1],[2] | (3.00%) | 3.00% |
[1] | Includes the financial results of the discontinued operations from January 1, 2021 to September 23, 2021. | |||
[2] | The changes in the effective tax rate for the period ended September 23, 2021 resulted from the lower income from discontinued operations before income tax expense. |
Discontinued Operations (Cash F
Discontinued Operations (Cash Flow Information of Discontinued Operations) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Discontinued Operations [Line Items] | |||||
Net cash provided by/(used in) discontinued operating activities | $ (175,888) | $ (68,187) | $ 228,857 | ||
Net cash provided by/(used in) discontinued investing activities | 1,054,148 | 235,374 | (228,406) | ||
Net cash used in discontinued financing activities | (9,132) | (8,209) | (33,415) | ||
Sogou [Member] | |||||
Discontinued Operations [Line Items] | |||||
Net cash provided by/(used in) discontinued operating activities | (175,888) | [1] | (68,187) | 219,516 | |
Net cash provided by/(used in) discontinued investing activities | 1,054,148 | [1] | 235,374 | (217,598) | |
Net cash used in discontinued financing activities | $ (9,132) | [1] | $ (8,209) | (33,415) | |
Changyou [Member] | Shanghai Jingmao Culture Communication Co., Ltd. ("Shanghai Jingmao") and its affiliate [Member] | |||||
Discontinued Operations [Line Items] | |||||
Net cash provided by/(used in) discontinued operating activities | [2] | 9,341 | |||
Net cash provided by/(used in) discontinued investing activities | [2] | (10,808) | |||
Net cash used in discontinued financing activities | [2] | $ 0 | |||
[1] | Includes the financial results of the discontinued operations from January 1, 2021 to September 23, 2021. | ||||
[2] | Includes the financial results of the discontinued operations from January 1, 2019 to August 12, 2019. |
Segment Information (Segment Op
Segment Information (Segment Operating Information by Segment) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||||
Segment Reporting Information [Line Items] | |||||||
Revenues | $ 835,576 | $ 749,890 | $ 673,803 | ||||
Segment cost of revenues | (204,394) | [1] | (216,717) | [2] | (243,505) | [3] | |
Segment gross profit | 631,182 | 533,173 | 430,298 | ||||
SBC in cost of revenues | [4] | (277) | (720) | (142) | |||
Gross profit | 630,905 | 532,453 | 430,156 | ||||
Operating expenses: | |||||||
Product development | (264,959) | [1] | (234,615) | [2] | (233,487) | [3] | |
Sales and marketing | (182,522) | [1] | (159,329) | [2] | (204,992) | [3] | |
General and administrative | (77,651) | [1] | (51,378) | [2] | (53,421) | [3] | |
Goodwill impairment and impairment of intangible assets acquired as part of business acquisitions | 0 | 0 | (7,245) | ||||
SBC in operating expenses | [4] | (8,301) | (13,760) | (2,208) | |||
Total operating expenses | (533,433) | (459,082) | (501,353) | ||||
Operating profit/(loss) | 97,472 | 73,371 | (71,197) | ||||
Other income | 29,416 | 25,993 | 7,963 | ||||
Interest income | 15,641 | 7,369 | 6,103 | ||||
Interest expense | (7,500) | (6,234) | (14,370) | ||||
Exchange difference | (3,462) | (3,800) | 1,430 | ||||
Income/(loss) before income tax expense | 131,567 | 96,699 | (70,071) | ||||
Income tax expense / benefit | (62,296) | (133,226) | (28,428) | ||||
Net income/(loss) from continuing operations | 69,271 | (36,527) | (98,499) | ||||
Net income/(loss) from discontinued operations | 864,902 | (91,793) | 55,108 | ||||
Net income/(loss) | 934,173 | (128,320) | (43,391) | ||||
Operating Segments [Member] | Sohu [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Revenues | 186,606 | 201,544 | 218,442 | ||||
Segment cost of revenues | (113,881) | [1] | (122,362) | [2] | (148,258) | [3] | |
Segment gross profit | 72,725 | 79,182 | 70,184 | ||||
SBC in cost of revenues | [4] | (1) | (177) | (23) | |||
Gross profit | 72,724 | 79,005 | 70,161 | ||||
Operating expenses: | |||||||
Product development | (113,186) | [1] | (97,681) | [2] | (113,761) | [3] | |
Sales and marketing | (126,126) | [1] | (106,057) | [2] | (155,226) | [3] | |
General and administrative | (36,949) | [1] | (25,861) | [2] | (31,330) | [3] | |
Goodwill impairment and impairment of intangible assets acquired as part of business acquisitions | (7,245) | ||||||
SBC in operating expenses | [4] | (804) | (1,759) | (1,023) | |||
Total operating expenses | (277,065) | (231,358) | (308,585) | ||||
Operating profit/(loss) | (204,341) | (152,353) | (238,424) | ||||
Operating Segments [Member] | Changyou [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Revenues | 648,970 | 548,346 | 455,380 | ||||
Segment cost of revenues | (90,517) | [1] | (94,362) | [2] | (95,268) | [3] | |
Segment gross profit | 558,453 | 453,984 | 360,112 | ||||
SBC in cost of revenues | [4] | (276) | (543) | (120) | |||
Gross profit | 558,177 | 453,441 | 359,992 | ||||
Operating expenses: | |||||||
Product development | (151,773) | [1] | (136,934) | [2] | (119,726) | [3] | |
Sales and marketing | (56,396) | [1] | (53,272) | [2] | (49,768) | [3] | |
General and administrative | (40,702) | [1] | (25,517) | [2] | (22,074) | [3] | |
Goodwill impairment and impairment of intangible assets acquired as part of business acquisitions | 0 | ||||||
SBC in operating expenses | [4] | (7,497) | (12,001) | (1,185) | |||
Total operating expenses | (256,368) | (227,724) | (192,753) | ||||
Operating profit/(loss) | 301,809 | 225,717 | 167,239 | ||||
Eliminations [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Revenues | 0 | 0 | (19) | ||||
Segment cost of revenues | 4 | [1] | 7 | [2] | 21 | [3] | |
Segment gross profit | 4 | 7 | 2 | ||||
SBC in cost of revenues | [4] | 0 | 0 | 1 | |||
Gross profit | 4 | 7 | 3 | ||||
Operating expenses: | |||||||
Product development | 0 | [1] | 0 | [2] | 0 | [3] | |
Sales and marketing | 0 | [1] | 0 | [2] | 2 | [3] | |
General and administrative | 0 | [1] | 0 | [2] | (17) | [3] | |
Goodwill impairment and impairment of intangible assets acquired as part of business acquisitions | 0 | ||||||
SBC in operating expenses | [4] | 0 | 0 | 0 | |||
Total operating expenses | 0 | 0 | (15) | ||||
Operating profit/(loss) | $ 4 | $ 7 | $ (12) | ||||
[1] | Total depreciation and amortization expenses of Sohu and Changyou were $23.4 million and $12.6 million, respectively, for the year ended December 31, 2021. | ||||||
[2] | Total depreciation and amortization expenses of Sohu and Changyou were $26.4 million and $13.5 million, respectively, for the year ended December 31, 2020. | ||||||
[3] | Total depreciation and amortization expenses of Sohu and Changyou were $50.7 million and $16.4 million, respectively, for the year ended December 31, 2019. | ||||||
[4] | “SBC” stands for share-based compensation expense. |
Segment Information (Segment _2
Segment Information (Segment Operating Information by Segment) (Parenthetical) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Sohu [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization expenses | $ 23.4 | $ 26.4 | $ 50.7 |
Changyou [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization expenses | $ 12.6 | $ 13.5 | $ 16.4 |
Segment Information (Segment As
Segment Information (Segment Assets Information by Segment) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |||
Cash and cash equivalents | $ 998,949 | $ 217,057 | |
Accounts receivable, net | 82,550 | 87,521 | |
Fixed assets, net | 329,997 | 337,674 | |
Total assets | [1] | 2,245,785 | 1,409,953 |
Operating Segments [Member] | Sohu [Member] | |||
Segment Reporting Information [Line Items] | |||
Cash and cash equivalents | 929,851 | 56,977 | |
Accounts receivable, net | 48,108 | 60,886 | |
Fixed assets, net | 170,213 | 174,700 | |
Total assets | [1] | 2,294,537 | 1,632,736 |
Operating Segments [Member] | Changyou [Member] | |||
Segment Reporting Information [Line Items] | |||
Cash and cash equivalents | 69,098 | 160,080 | |
Accounts receivable, net | 34,442 | 26,635 | |
Fixed assets, net | 159,784 | 162,976 | |
Total assets | [1] | 2,610,964 | 2,478,705 |
Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Cash and cash equivalents | 0 | 0 | |
Accounts receivable, net | 0 | 0 | |
Fixed assets, net | 0 | (2) | |
Total assets | [1] | $ (2,659,716) | $ (2,701,488) |
[1] | The elimination for segment assets mainly consists of elimination of intra-Group loans between Sohu and Changyou, and elimination of long-term investments in subsidiaries and consolidated VIEs. |
Share-based Compensation Expe_3
Share-based Compensation Expense (Share-based Compensation Expense Recognized in Costs and Expenses) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Share-based compensation expense | $ 8,578 | $ 14,480 | $ 2,350 |
Cost of revenues [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Share-based compensation expense | 277 | 720 | 142 |
Product development expenses [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Share-based compensation expense | 3,904 | 7,325 | 1,364 |
Sales and marketing expenses [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Share-based compensation expense | 166 | 460 | (326) |
General and administrative expenses [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Share-based compensation expense | $ 4,231 | $ 5,975 | $ 1,170 |
Share-based Compensation Expe_4
Share-based Compensation Expense (Share-based Compensation Expense Recognized for Share Awards of Sohu (excluding Sohu Video), Changyou and Sohu Video) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | $ 8,578,000 | $ 14,480,000 | $ 2,350,000 |
Capitalized share-based compensation expense | 0 | 0 | 0 |
Sohu (excluding Sohu Video) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | 1,849,000 | 2,633,000 | 1,940,000 |
Changyou [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | 7,773,000 | 12,545,000 | 1,305,000 |
Sohu Video [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | $ (1,044,000) | $ (698,000) | $ (895,000) |
Advertising and Promotional E_2
Advertising and Promotional Expenses, included in Sales and Marketing Expenses (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
ADVERTISING AND PROMOTIONAL EXPENSES, INCLUDED IN SALES AND MARKETING EXPENSES [Abstract] | |||
Advertising and promotional expenses | $ 98.5 | $ 84.7 | $ 124.6 |
Other Income, Net (Details)
Other Income, Net (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||||
OTHER INCOME, NET [Abstract] | ||||||||
Rental income from Sogou | [1] | $ 10,427 | $ 9,793 | $ 8,029 | ||||
Investment income | 6,352 | 3 | 3,004 | |||||
Income from investments in financial instruments | [2] | 5,260 | 4,303 | 11,113 | ||||
Individual tax refund and additional deduction of PRC value-added tax | 4,827 | 6,169 | 907 | |||||
Write-down of unpaid long-term accounts payable | 1,276 | 47 | 0 | |||||
Government grant | 418 | 5,928 | 5,763 | |||||
Impairment loss on equity investments | $ (23,200) | (215) | [3] | (384) | [3] | (23,154) | [3] | |
Donations | (1,565) | (1,460) | (283) | |||||
Others | 2,636 | 1,594 | 2,584 | |||||
Total | $ 29,416 | $ 25,993 | $ 7,963 | |||||
[1] | Sogou leases from Sohu, on an arms-length basis, office space at Sohu.com Internet Plaza under a lease that expires on December 31, 2022 and may be renewed subject to terms to be agreed to by Sohu and Sogou. The cash receipts from this lease within operating activities for 2021, 2020 and 2019 were $12.3 million, $12.1 million and $8.4 million, respectively. | |||||||
[2] | The increase for 2021 compared to 2020 and the decrease for 2020 compared to 2019 were mainly due to income earned from investments in financial instruments. | |||||||
[3] | In the fourth quarter of 2019, the Sohu Group recognized impairment losses of $23.2 million for equity investments. |
Other Income, Net (Narrative) (
Other Income, Net (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||||
Other Income and Expense [Line Items] | |||||||
Impairment loss | $ 23,200 | $ 215 | [1] | $ 384 | [1] | $ 23,154 | [1] |
Sogou [Member] | |||||||
Other Income and Expense [Line Items] | |||||||
Cash proceeds from operating lease | $ 12,300 | $ 12,100 | $ 8,400 | ||||
[1] | In the fourth quarter of 2019, the Sohu Group recognized impairment losses of $23.2 million for equity investments. |
Balance Sheet Components Accoun
Balance Sheet Components Account and Financing Receivables, net (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Accounts receivable, net | ||||
Accounts receivable | $ 94,908 | $ 94,528 | ||
Allowance for credit losses | (12,358) | (7,007) | $ (3,956) | $ (7,574) |
Accounts receivable, net | $ 82,550 | $ 87,521 |
Balance Sheet Components Moveme
Balance Sheet Components Movement of Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
BALANCE SHEET COMPONENTS [Abstract] | ||||
Beginning balance | $ 7,007 | $ 3,956 | $ 7,574 | |
Changes on initial application of ASU 2016-13 | [1] | 0 | 3,383 | 0 |
Additional allowance for credit losses, net of recoveries | 6,292 | 2,419 | 4,724 | |
Write-offs | (1,155) | (3,231) | (8,237) | |
Exchange difference | 214 | 480 | (105) | |
Ending balance | $ 12,358 | $ 7,007 | $ 3,956 | |
[1] | The Company adopted ASU 2016-13 using the modified retrospective transition approach. The adjustments arising from the new CECL model are recognized in the opening Consolidated Balance Sheet on January 1, 2020. |
Balance Sheet Components Other
Balance Sheet Components Other Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | |
Prepaid and other current assets | |||
Matching loan due from a related party | $ 34,123 | $ 34,123 | |
Prepaid taxes | 28,719 | 25,043 | |
Prepaid revenue-sharing cost | 12,428 | 10,120 | |
Prepaid content and license costs | 8,694 | 11,029 | |
Prepaid advertising and promotion fee | 4,685 | 244 | |
Interest receivable from bank deposits with original maturities of three months or less | 3,059 | 3,875 | |
Receivables from third party payment platforms | 2,670 | 5,488 | |
Prepaid professional fees | 2,432 | 2,365 | |
Prepaid rental deposits | 1,928 | 2,310 | |
Employee advances | 569 | 587 | |
Prepaid office rent and facilities expenses | 338 | 696 | |
Others | 7,666 | 10,710 | |
Prepaid and other current assets | 107,311 | 106,590 | |
Prepaid non-current assets | |||
Prepaid PRC income tax for the sale of assets associated with 17173.com by Sohu to Changyou | 0 | 1,006 | |
Prepaid non-current assets | 0 | 1,006 | |
Other short-term liabilities | |||
Matching loans due to a related party | 34,123 | 34,123 | |
Contingent liability related to Shanghai Jingmao liquidation | [1] | 23,900 | 23,900 |
Deposits related to Focus | 10,387 | 21,936 | |
Share-based awards in Changyou | 20,693 | 13,292 | |
Other payables related to Shanghai Jingmao liquidation | [2] | 9,380 | 0 |
Contract deposits from advertisers | 2,679 | 3,036 | |
Lease liabilities | $ 1,999 | $ 1,107 | |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] | Other short-term liabilities | Other short-term liabilities | |
Consideration payable for equity investment | $ 769 | $ 751 | |
Others | 8,638 | 8,026 | |
Other short-term liabilities | 112,568 | 106,171 | |
Receipts in advance and deferred revenue | |||
Receipts in advance relating to brand advertising business | 4,297 | 5,214 | |
Receipts in advance relating to online game business | 9,310 | 7,869 | |
Receipts in advance relating to other business | 5,286 | 6,029 | |
Total receipts in advance | 18,893 | 19,112 | |
Deferred revenue | 38,148 | 32,943 | |
Receipts in advance and deferred revenue | $ 57,041 | $ 52,055 | |
[1] | The contingent liability represents the aggregate of estimated potential payments to third parties in connection with the liquidation of Shanghai Jingmao. The stated amount of the contingent liability reflects Changyou’s best estimate as of December 31, 2020 and 2021 pursuant to ASC 450-20. Changyou may revise this estimate in the future based on developments in PRC bankruptcy court proceedings regarding. | ||
[2] | Shanghai Jingmao. In 2021, Changyou received $9.4 million from the bankruptcy proceedings, as a creditor of Shanghai Jingmao, during the process of the liquidation of Shanghai Jingmao. No disposal gain was recognized due to the uncertainty with the proceedings that were still ongoing. |
Balance Sheet Components Othe_2
Balance Sheet Components Other Assets and Liabilities (Parenthetical) (Details) $ in Millions | Dec. 31, 2021USD ($) |
Changyou.com Limited [Member] | Shanghai Jingmao and Its Affiliate [Member] | |
Balance Sheet Components [Line Items] | |
Proceeds from loans receivable | $ 9.4 |
Related Party Transactions (Det
Related Party Transactions (Details) ¥ in Millions, $ in Millions | 1 Months Ended | |||||
Feb. 28, 2016USD ($) | Apr. 30, 2015USD ($) | Aug. 31, 2014USD ($) | Dec. 31, 2021USD ($) | Jan. 31, 2019USD ($) | Jan. 31, 2019CNY (¥) | |
Related Party Transaction [Line Items] | ||||||
Net loan receivables amount | $ 7.6 | |||||
Changyou [Member] | Fox Financial Technology Group Limited [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Principal Amount of Advanced Additional Loan | $ 1.2 | ¥ 8.2 | ||||
Expected credit loss | 3.3 | |||||
Changyou [Member] | Prepaid Expenses And Other Current Asset | Fox Financial Technology Group Limited [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Net loan receivables amount | 34.1 | |||||
Changyou [Member] | Other | Fox Financial Technology Group Limited [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Loans payable to related parities | $ 34.1 | |||||
Sohu [Member] | Fox Financial Technology Group Limited [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Investment amount in period | $ 10.5 | $ 16.1 | $ 4.8 |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Instruments, Measured at Fair Value) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | $ 949,884 | $ 173,655 |
Restricted cash | 1,969 | 330,791 |
Restricted time deposits | 0 | 101,519 |
Short-term investments | 399,345 | 100,745 |
Equity investments with readily determinable fair values | 14,642 | 9,457 |
Long-term time deposits | 189,007 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Restricted time deposits | 0 | |
Short-term investments | 0 | 0 |
Equity investments with readily determinable fair values | 14,642 | 9,457 |
Long-term time deposits | 0 | |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 949,884 | 173,655 |
Restricted cash | 1,969 | 330,791 |
Restricted time deposits | 101,519 | |
Short-term investments | 399,345 | 100,745 |
Equity investments with readily determinable fair values | 0 | 0 |
Long-term time deposits | 189,007 | |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Restricted time deposits | 0 | |
Short-term investments | 0 | 0 |
Equity investments with readily determinable fair values | 0 | $ 0 |
Long-term time deposits | $ 0 |
Fair Value Measurements (Restri
Fair Value Measurements (Restricted cash and Restricted Time Deposits, Narrative) (Details) - Fair Value, Measurements, Recurring [Member] - Changyou [Member] - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loan received from bank | $ 153 | $ 215.6 | ||
Interest income from restricted time deposits | $ 5 | $ 0.1 | ||
Interest expense on bank loans | $ 5.3 | 0.1 | ||
Deposit certificates pledged | 212 | 212 | ||
Restricted Cash [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Deposit certificates pledged | 110 | 110 | ||
Restricted Time Deposit [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Deposit certificates pledged | $ 102 | $ 102 |
Fair Value Measurements (Short-
Fair Value Measurements (Short-term Investments, Long-term Investments and Long-term Time Deposits) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | [1] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Investments in financial instruments | $ 399,345 | $ 100,745 | |||||
Impairment loss | $ 23,200 | $ 215 | [1] | 384 | [1] | $ 23,154 | |
Time deposit [Member] | Minimum [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Restricted investment maturity period | 3 months | ||||||
Time deposit [Member] | Maximum [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Restricted investment maturity period | 1 year | ||||||
Long Term Time Deposit [Member] | Minimum [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Restricted investment maturity period | 1 year | ||||||
Fair Value, Measurements, Recurring [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Investments in financial instruments | $ 399,300 | 100,700 | |||||
Change in fair value of short-term investments | 5,300 | 4,300 | |||||
Impairment loss | $ 200 | $ 400 | |||||
[1] | In the fourth quarter of 2019, the Sohu Group recognized impairment losses of $23.2 million for equity investments. |
Fair Value Measurements (Assets
Fair Value Measurements (Assets Measured at Fair Value on a Nonrecurring Basis) (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Purchased video content recorded in prepaid and other assets | $ 2,555 | $ 2,585 |
Intangible assets, net | 9,136 | 4,842 |
Goodwill | 48,811 | 48,434 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Purchased video content recorded in prepaid and other assets | 0 | 0 |
Intangible assets, net | 0 | 0 |
Goodwill | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Purchased video content recorded in prepaid and other assets | 0 | 0 |
Intangible assets, net | 0 | 0 |
Goodwill | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Purchased video content recorded in prepaid and other assets | 2,555 | 2,585 |
Intangible assets, net | 9,136 | 4,842 |
Goodwill | $ 48,811 | $ 48,434 |
Fair Value Measurements (Shor_2
Fair Value Measurements (Short-term Receivables and Payables, Narrative) (Details) - Sohu [Member] - Fair Value, Measurements, Recurring [Member] ¥ in Millions | Apr. 03, 2020USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2018CNY (¥) | Apr. 30, 2018USD ($) | Apr. 30, 2018CNY (¥) | Sep. 30, 2017USD ($) | Sep. 30, 2017CNY (¥) | May 31, 2019USD ($) | May 31, 2019CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Credit agreement with ICBC [Member] | ICBC [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Loans may borrow from bank | $ 116,600,000 | ¥ 800 | |||||||||
Additional interest rate over LPR | 1.20% | 1.20% | |||||||||
Installments of bank loan payable | four equal installments, with the first installment payable 18 months after the drawdown and the other three installments payable semi-annually at the end of each of the three successive six-month periods after the first installment payment. | four equal installments, with the first installment payable 18 months after the drawdown and the other three installments payable semi-annually at the end of each of the three successive six-month periods after the first installment payment. | |||||||||
Total outstanding balance of bank loan | $ 0 | $ 0 | |||||||||
Credit agreement with CMB [Member] | CMB [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Loans may borrow from bank | $ 102,000,000 | ¥ 700 | |||||||||
Installments of bank loan payable | The first installment of RMB45 million (or $6.7 million) was paid in December 2018; the second and third installments of RMB90 million (or $13.1 million) in the aggregate were paid early in June 2019; and the fourth installment of RMB165 million (or $23.3million) was paid early in July 2019. | The first installment of RMB45 million (or $6.7 million) was paid in December 2018; the second and third installments of RMB90 million (or $13.1 million) in the aggregate were paid early in June 2019; and the fourth installment of RMB165 million (or $23.3million) was paid early in July 2019. | |||||||||
Total outstanding balance of bank loan | $ 0 | $ 0 | |||||||||
Loan received from bank | $ 43,700,000 | ¥ 300 | $ 58,300,000 | ¥ 400 | $ 59,300,000 | ¥ 399 | |||||
Short-term loan, interest rate | 6.00% | 6.00% | 6.00% | 6.00% | 5.10% | 5.10% | |||||
Credit agreement with Industrial and Commercial Bank of China Limited, Tokyo Branch ("ICBC Tokyo") | Changyou Merger [Member] | ICBC Tokyo [Member] | Sohu Game [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Bearing interest of term facility | Three Month LIBOR plus a margin of 1.75% | ||||||||||
Proportion of mortgaged outstanding of Changyou | 97.90% | ||||||||||
Deposit certificates pledged | $ 192,000,000 | ||||||||||
Exchange rate of deposit equivalent | 0.1389 | ||||||||||
Credit agreement with Industrial and Commercial Bank of China Limited, Tokyo Branch ("ICBC Tokyo") | Maximum [Member] | Changyou Merger [Member] | ICBC Tokyo [Member] | Sohu Game [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Term Loan | $ 250,000,000 | ||||||||||
Credit agreement with Industrial and Commercial Bank of China Limited, Tokyo Branch ("ICBC Tokyo") | Maximum [Member] | Changyou Merger [Member] | ICBC Tokyo [Member] | One-Year Facility [Member] | Sohu Game [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Term Loan | 100,000,000 | ||||||||||
Credit agreement with Industrial and Commercial Bank of China Limited, Tokyo Branch ("ICBC Tokyo") | Maximum [Member] | Changyou Merger [Member] | ICBC Tokyo [Member] | Four-Year Facility [Member] | Sohu Game [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Term Loan | $ 150,000,000 |
Fair Value Measurements (Long-t
Fair Value Measurements (Long-term Payables, Narrative) (Details) - $ / shares | Dec. 31, 2021 | Apr. 17, 2020 |
Changyou [Member] | Share Options [Member] | Common Class A [Member] | Changyou Merger [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fixed price of share | $ 5.39 | $ 5.39 |
Lease (Component of Operating L
Lease (Component of Operating Lease Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
LEASE [Abstract] | ||
Operating lease expense | $ 2,952 | $ 3,985 |
Short-term lease expense | 563 | 297 |
Total operating lease expense | $ 3,515 | $ 4,282 |
Lease (Supplemental Cash Flow I
Lease (Supplemental Cash Flow Information Related to Leases, Cash Paid for Amounts Included in Measurement of Lease Liabilities) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
LEASE [Abstract] | ||
Operating cash flows from operating leases | $ 3,085 | $ 3,206 |
Lease (Supplemental Cash Flow_2
Lease (Supplemental Cash Flow Information Related to Leases Right-of-use Assets Obtained In Exchange For Lease Liabilities) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
LEASE [Abstract] | ||
Operating leases | $ 2,620 | $ 5,351 |
Lease (Supplemental Balance She
Lease (Supplemental Balance Sheet Information Related to Operating Leases) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2019 |
LEASE [Abstract] | |||
Operating lease right-of-use assets | $ 5,207 | $ 4,998 | |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets, Noncurrent | Other Assets, Noncurrent | |
Liabilities: | |||
Current lease liabilities | $ 1,999 | $ 1,107 | |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] | Other Liabilities, Current | Other Liabilities, Current | |
Non-current lease liabilities | $ 3,142 | $ 3,855 | |
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | Non-current lease liabilities | Non-current lease liabilities | |
Total operating lease liabilities | $ 5,141 | $ 4,962 | |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Liabilities | Liabilities | Liabilities |
Lease (Maturities of Lease Liab
Lease (Maturities of Lease Liabilities under Operating Leases) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2019 |
LEASE [Abstract] | |||
2022 | $ 2,853 | ||
2023 | 2,240 | ||
2024 | 277 | ||
2025 | 98 | ||
2026 | 0 | ||
Thereafter | 0 | ||
Total future lease payments | 5,468 | ||
Less: imputed interest | 327 | ||
Total present value of lease liabilities | $ 5,141 | $ 4,962 | |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Liabilities | Liabilities | Liabilities |
Weighted average remaining lease term | 2 years 1 month 6 days | ||
Weighted average discount rate | 5.70% | ||
Liabilities for leases | $ 200 |
Fixed Assets (Details)
Fixed Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | |||
Fixed assets, gross | $ 572,530 | $ 571,285 | |
Accumulated depreciation | (242,533) | (233,611) | |
Fixed assets, net | 329,997 | 337,674 | |
Depreciation expenses for fixed assets | 23,495 | 25,466 | $ 28,225 |
Office buildings [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Fixed assets, gross | 401,223 | 392,045 | |
Computer equipment and hardware [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Fixed assets, gross | 123,079 | 132,021 | |
Leasehold and building improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Fixed assets, gross | 37,753 | 36,649 | |
Office furniture [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Fixed assets, gross | 6,960 | 6,841 | |
Vehicles [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Fixed assets, gross | $ 3,515 | $ 3,729 |
Goodwill (Carrying Value of Goo
Goodwill (Carrying Value of Goodwill by Segment) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | $ 250,966 | $ 249,922 |
Accumulated impairment losses, Beginning Balance | (202,532) | (202,532) |
Goodwill, Net, Beginning Balance | 48,434 | 47,390 |
Foreign currency translation adjustment | 377 | 1,044 |
Goodwill, Ending balance | 251,343 | 250,966 |
Accumulated impairment losses, Ending balance | (202,532) | (202,532) |
Goodwill, Net, Ending balance | 48,811 | 48,434 |
Operating Segments [Member] | Sohu [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 70,423 | 69,379 |
Accumulated impairment losses, Beginning Balance | (32,246) | (32,246) |
Goodwill, Net, Beginning Balance | 38,177 | 37,133 |
Foreign currency translation adjustment | 377 | 1,044 |
Goodwill, Ending balance | 70,800 | 70,423 |
Accumulated impairment losses, Ending balance | (32,246) | (32,246) |
Goodwill, Net, Ending balance | 38,554 | 38,177 |
Operating Segments [Member] | Changyou [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 180,543 | 180,543 |
Accumulated impairment losses, Beginning Balance | (170,286) | (170,286) |
Goodwill, Net, Beginning Balance | 10,257 | 10,257 |
Foreign currency translation adjustment | 0 | 0 |
Goodwill, Ending balance | 180,543 | 180,543 |
Accumulated impairment losses, Ending balance | (170,286) | (170,286) |
Goodwill, Net, Ending balance | $ 10,257 | $ 10,257 |
Intangible Assets, Net (Finite-
Intangible Assets, Net (Finite-lived Intangible Assets by Major Class) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 250,471 | $ 315,767 |
Accumulated Amortization | (163,640) | (219,849) |
Accumulated Impairment | (77,695) | (91,076) |
Net Carrying Amount | 9,136 | 4,842 |
Purchased video content [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 138,902 | 212,999 |
Accumulated Amortization | (99,961) | (161,160) |
Accumulated Impairment | (37,343) | (50,088) |
Net Carrying Amount | 1,598 | 1,751 |
Operating rights for licensed games [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 60,454 | 51,856 |
Accumulated Amortization | (39,431) | (35,017) |
Accumulated Impairment | (13,895) | (14,026) |
Net Carrying Amount | 7,128 | 2,813 |
Domain names and trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 26,766 | 27,536 |
Accumulated Amortization | (10,240) | (10,243) |
Accumulated Impairment | (16,506) | (17,219) |
Net Carrying Amount | 20 | 74 |
Computer software [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 12,474 | 11,749 |
Accumulated Amortization | (12,084) | (11,545) |
Accumulated Impairment | 0 | 0 |
Net Carrying Amount | 390 | 204 |
Developed technologies [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 8,879 | 8,699 |
Accumulated Amortization | (936) | (918) |
Accumulated Impairment | (7,943) | (7,781) |
Net Carrying Amount | 0 | 0 |
Others [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,996 | 2,928 |
Accumulated Amortization | (988) | (966) |
Accumulated Impairment | (2,008) | (1,962) |
Net Carrying Amount | $ 0 | $ 0 |
Intangible Assets, Net (Narrati
Intangible Assets, Net (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of intangible assets | $ 12,500,000 | $ 14,400,000 | $ 38,800,000 |
Sohu [Member] | Sohu Video's intangible assets [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Total losses for impairment | 14,000 | 1,500,000 | 4,000,000 |
Sohu [Member] | 56.com Website's intangible assets [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Total losses for impairment | $ 7,200,000 | ||
Changyou [Member] | Content and game licenses intangible assets [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Total losses for impairment | 1,700,000 | 2,700,000 | |
Intangible assets impairment losses | 100,000 | 800,000 | |
Prepaid and other current assets impairment losses | $ 1,600,000 | $ 1,900,000 |
Intangible Assets, Net (Estimat
Intangible Assets, Net (Estimated Amortization Expenses for Future Periods) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
INTANGIBLE ASSETS, NET [Abstract] | ||
2022 | $ 4,357 | |
2023 | 3,761 | |
2024 | 1,018 | |
2025 | 0 | |
2026 | 0 | |
Thereafter | 0 | |
Total expected amortization expense | $ 9,136 | $ 4,842 |
Taxation (PRC Corporate Income
Taxation (PRC Corporate Income Tax) (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax and Tax Rate [Line Items] | |||
Statutory income tax rate | 25.00% | 25.00% | 25.00% |
Guangzhou Qianjun Network Technology Co., Ltd. [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Preferential income tax rate | 15.00% | ||
State Administration of Taxation, China [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Statutory income tax rate | 25.00% | ||
State Administration of Taxation, China [Member] | High and New Technology Enterprises [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Preferential income tax rate | 15.00% | ||
Preferential income tax rate period (years) | 3 years | ||
State Administration of Taxation, China [Member] | High and New Technology Enterprises [Member] | Video Tianjin [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Preferential income tax rate | 15.00% | ||
State Administration of Taxation, China [Member] | High and New Technology Enterprises [Member] | Sohu Internet [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Preferential income tax rate | 15.00% | ||
State Administration of Taxation, China [Member] | High and New Technology Enterprises [Member] | Sohu New Momentum [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Preferential income tax rate | 15.00% | ||
State Administration of Taxation, China [Member] | High and New Technology Enterprises [Member] | Sohu Media [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Preferential income tax rate | 15.00% | ||
State Administration of Taxation, China [Member] | High and New Technology Enterprises [Member] | Gamease [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Preferential income tax rate | 15.00% | ||
State Administration of Taxation, China [Member] | High and New Technology Enterprises [Member] | AmazGame [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Preferential income tax rate | 15.00% | ||
State Administration of Taxation, China [Member] | High and New Technology Enterprises [Member] | Gamespace [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Preferential income tax rate | 15.00% | ||
State Administration of Taxation, China [Member] | High and New Technology Enterprises [Member] | Changyou Chuangxiang [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Preferential income tax rate | 15.00% | ||
State Administration of Taxation, China [Member] | Software Enterprise [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Preferential income tax rate | 12.50% | ||
Preferential income tax rate period (years) | 3 years | ||
Income tax exemption period beginning with first profitable year | 2 years | ||
Tax rate reduction rate | 50.00% | ||
State Administration of Taxation, China [Member] | Software Enterprise [Member] | Changyou Chuangxiang [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Preferential income tax rate | 12.50% |
Taxation (U.S. Corporate Income
Taxation (U.S. Corporate Income Tax) (Details) | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax and Tax Rate [Line Items] | |||||
Statutory income tax rate | 25.00% | 25.00% | 25.00% | ||
Thereafter tax years [Member] | |||||
Income Tax and Tax Rate [Line Items] | |||||
Statutory income tax rate | 21.00% | ||||
Prior tax years [Member] | |||||
Income Tax and Tax Rate [Line Items] | |||||
Statutory income tax rate | 35.00% |
Taxation (Treatment of Toll Cha
Taxation (Treatment of Toll Charge Related to the U.S. TCJA) (Details) - United States - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax and Tax Rate [Line Items] | ||||
Provisional amount of income tax expense recognized for the Toll Charge | $ 219 | |||
Reduction in liability for deferred income tax | $ 4 | |||
Recognition of previously unrecognized tax benefit | $ 77 | |||
Unrecognized tax benefit recorded | $ 142 | |||
Interest in connection with unrecognized tax benefit | $ 5 | $ 6 |
Taxation (Hong Kong Tax) (Detai
Taxation (Hong Kong Tax) (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax and Tax Rate [Line Items] | |||
Statutory income tax rate | 25.00% | 25.00% | 25.00% |
Inland Revenue, Hong Kong [Member] | |||
Income Tax and Tax Rate [Line Items] | |||
Statutory income tax rate | 16.50% | 16.50% | 16.50% |
Taxation (Components of Income
Taxation (Components of Income before Income Taxes) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2018 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income/(loss) before income tax expense | |||||
Income/(loss) from China operations | $ 153,708 | $ 154,514 | $ (89,150) | ||
Income/(loss) from non-China operations | (22,141) | (57,815) | 19,079 | ||
Income/(loss) before income tax expense | 131,567 | 96,699 | (70,071) | ||
Income tax expense applicable to China operations | |||||
Current tax | 31,089 | 24,255 | 9,026 | ||
Deferred tax | 26,207 | 102,652 | 11,191 | ||
Subtotal income tax expense applicable to China operations | 57,296 | 126,907 | 20,217 | ||
Non-China income tax expense | 4,817 | 6,207 | 7,887 | ||
Non-China withholding tax expense | 183 | 112 | 324 | ||
Total income tax expense from continuing operations | 62,296 | 133,226 | 28,428 | ||
Additional income tax withholded in disribution of cash dividends | $ 88,000 | $ 47,000 | |||
CHINA | |||||
Income tax expense applicable to China operations | |||||
Total income tax expense from continuing operations | 57,300 | 126,900 | 20,200 | ||
Accrued Income Taxes | 48,400 | 40,700 | 32,600 | ||
Additional income tax withholded in disribution of cash dividends | 88,000 | ||||
Reversal of Accrued Income Taxes | 6,900 | 19,500 | |||
United States | |||||
Income tax expense applicable to China operations | |||||
Non-China income tax expense | $ 5,000 | $ 6,000 | $ 8,000 |
Taxation (Tax Holiday Effect) (
Taxation (Tax Holiday Effect) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Tax holiday effect | $ 1,635 | $ 16,174 | $ 7,981 |
Basic net income per share effect | $ 0.04 | $ 0.41 | $ 0.20 |
Taxation (Effective Tax Rate) (
Taxation (Effective Tax Rate) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||
Jun. 30, 2020 | Mar. 31, 2018 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Apr. 05, 2018 | ||
Taxation [Line Items] | |||||||||
Statutory Rate: | 25.00% | 25.00% | 25.00% | ||||||
Effect of tax holidays applicable to subsidiaries and consolidated VIEs | [1] | (1.00%) | (17.00%) | 11.00% | |||||
Tax differential from statutory rate applicable to subsidiaries and consolidated VIEs | 3.00% | 9.00% | 7.00% | ||||||
Effect of withholding taxes | [2] | 19.00% | 109.00% | (12.00%) | |||||
Changes in valuation allowance for deferred tax assets | 31.00% | 27.00% | (71.00%) | ||||||
Research and development super-deduction | (19.00%) | (9.00%) | 12.00% | ||||||
Others | (14.00%) | (13.00%) | (1.00%) | ||||||
Effective Tax Rate | 44.00% | 131.00% | (29.00%) | ||||||
Special cash dividend | $ 500 | ||||||||
Additional withholding income taxes | $ 88 | $ 47 | |||||||
Prior tax years [Member] | |||||||||
Taxation [Line Items] | |||||||||
Statutory Rate: | 35.00% | ||||||||
Thereafter tax years [Member] | |||||||||
Taxation [Line Items] | |||||||||
Statutory Rate: | 21.00% | ||||||||
[1] | The reversal of income tax for preferential income tax rates that Changyou’s subsidiaries and VIEs were entitled to as KNSEs or Software Enterprises for 2019, 2020 and 2021 was included in the “Effect of tax holidays applicable to subsidiaries and consolidated VIEs” in the above table. | ||||||||
[2] | The revised policy was adopted to facilitate the distribution of a special cash dividend in the aggregate amount of approximately $500.0 million that was declared by Changyou’s Board of Directors on April 5, 2018. The change for 2020 was mainly due to additional income withholding tax of $88 million that was recognized in the second quarter of 2020 due to a revised policy with respect to Changyou’s PRC subsidiaries regarding their distribution of cash dividends. |
Taxation (PRC Withholding Tax o
Taxation (PRC Withholding Tax on Dividends) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Jun. 30, 2020 | Mar. 31, 2018 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 05, 2018 | |
Withholding tax on dividends [Line Items] | ||||||
Withholding income tax rate on dividends, foreign invested enterprises to foreign holding companies | 10.00% | |||||
Special cash dividend | $ 500,000 | |||||
Additional withholding income taxes | $ 88,000 | $ 47,000 | ||||
Deferred tax liabilities related to withholding tax | $ 237,116 | $ 206,594 | ||||
Total amount of undistributed profits | 484,900 | |||||
Unrecognized tax liabilities | 48,500 | |||||
Changyou [Member] | ||||||
Withholding tax on dividends [Line Items] | ||||||
Deferred tax liabilities related to withholding tax | $ 237,100 | $ 86,800 | ||||
HONG KONG | ||||||
Withholding tax on dividends [Line Items] | ||||||
Preferential withholding tax rate on dividends, foreign invested enterprises | 5.00% | |||||
CHINA | ||||||
Withholding tax on dividends [Line Items] | ||||||
Withholding income tax rate on dividends, foreign invested enterprises to foreign holding companies | 10.00% | |||||
Additional withholding income taxes | $ 88,000 |
Taxation (PRC Value-Added Tax)
Taxation (PRC Value-Added Tax) (Details) | 12 Months Ended |
Dec. 31, 2021 | |
State Administration of Taxation, China [Member] | |
Value added tax [Line Items] | |
Value-added tax rate | 6.00% |
Taxation (Deferred Tax Assets a
Taxation (Deferred Tax Assets and Liabilities, Significant Components of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets: | ||||
Net operating loss from operations | $ 291,380 | $ 325,797 | ||
Accrued bonus and commissions | 9,101 | 10,613 | ||
Intangible assets transfer | 485 | 690 | ||
Others | 7,489 | 8,692 | ||
Total deferred tax assets | 308,455 | 345,792 | ||
Less: Valuation allowance | (289,097) | (326,755) | $ (283,711) | $ (250,524) |
Net deferred tax assets | 19,358 | 19,037 | ||
Deferred tax liabilities | ||||
Withholding tax for dividend | (237,116) | (206,594) | ||
Others | (12,049) | (10,999) | ||
Total deferred tax liabilities | $ (249,165) | $ (217,593) |
Taxation (Deferred Tax Assets_2
Taxation (Deferred Tax Assets and Liabilities, Narrative) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Income Tax Disclosure [Abstract] | |
Net operating losses from PRC entities available to offset against future net profit for income tax purposes | $ 1,850 |
Deferred tax assets generated from net operating losses offset by valuation allowance | 285.8 |
PRC net operating losses generated from previous years, expired | $ 48.5 |
Taxation (Movement of Valuation
Taxation (Movement of Valuation Allowance for Net Deferred Tax Assets) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Beginning balance | $ 326,755 | $ 283,711 | $ 250,524 |
Provision for the year | 45,787 | 36,363 | 44,634 |
Reversal for the year | (91,019) | (12,637) | (7,311) |
Foreign currency translation adjustment | 7,574 | 19,318 | (4,136) |
Ending balance | $ 289,097 | $ 326,755 | $ 283,711 |
Taxation (Uncertain Tax Positio
Taxation (Uncertain Tax Positions) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Beginning balance | $ 188,760 | $ 181,640 | $ 174,363 |
Increases /(decreases) related to prior year tax positions | 5,158 | 7,120 | 7,277 |
Increases related to current year tax positions | 0 | 0 | 0 |
Ending balance | $ 193,918 | $ 188,760 | $ 181,640 |
Commitments and Contingencies_2
Commitments and Contingencies (Contractual Obligation) (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Contractual Obligation [Line Items] | |
2022 | $ 51,462 |
2023 | 15,590 |
2024 | 3,347 |
2025 | 37 |
2026 | 0 |
Thereafter | 0 |
Total Payments Required | 70,436 |
Royalties and expenditures for licensed content of games [Member] | |
Contractual Obligation [Line Items] | |
2022 | 15,976 |
2023 | 13,512 |
2024 | 2,746 |
2025 | 0 |
2026 | 0 |
Thereafter | 0 |
Total Payments Required | 32,234 |
Purchase of bandwidth [Member] | |
Contractual Obligation [Line Items] | |
2022 | 14,418 |
2023 | 1,029 |
2024 | 455 |
2025 | 0 |
2026 | 0 |
Thereafter | 0 |
Total Payments Required | 15,902 |
Purchase of content and services - others | |
Contractual Obligation [Line Items] | |
2022 | 7,530 |
2023 | 389 |
2024 | 43 |
2025 | 0 |
2026 | 0 |
Thereafter | 0 |
Total Payments Required | 7,962 |
Purchase of content and services - video | |
Contractual Obligation [Line Items] | |
2022 | 6,387 |
2023 | 0 |
2024 | 0 |
2025 | 0 |
2026 | 0 |
Thereafter | 0 |
Total Payments Required | 6,387 |
Operating lease obligations [Member] | |
Contractual Obligation [Line Items] | |
2022 | 3,355 |
2023 | 660 |
2024 | 103 |
2025 | 37 |
2026 | 0 |
Thereafter | 0 |
Total Payments Required | 4,155 |
Others [Member] | |
Contractual Obligation [Line Items] | |
2022 | 3,796 |
2023 | 0 |
2024 | 0 |
2025 | 0 |
2026 | 0 |
Thereafter | 0 |
Total Payments Required | $ 3,796 |
VIEs (VIEs Consolidated within
VIEs (VIEs Consolidated within Sohu Group, Basic Information for Principal VIEs) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Variable Interest Entity [Line Items] | |
Aggregate amount of loans due from related parties | $ 7.6 |
VIEs [Member] | |
Variable Interest Entity [Line Items] | |
Registered capital and PRC statutory reserves | $ 45.1 |
High Century [Member] | Dr. Charles Zhang [Member] | |
Variable Interest Entity [Line Items] | |
Ownership percentage | 80.00% |
High Century [Member] | Wei Li [Member] | |
Variable Interest Entity [Line Items] | |
Ownership percentage | 20.00% |
Heng Da Yi Tong [Member] | Dr. Charles Zhang [Member] | |
Variable Interest Entity [Line Items] | |
Ownership percentage | 80.00% |
Heng Da Yi Tong [Member] | Wei Li [Member] | |
Variable Interest Entity [Line Items] | |
Ownership percentage | 20.00% |
Sohu Internet [Member] | High Century [Member] | |
Variable Interest Entity [Line Items] | |
Ownership percentage | 100.00% |
Donglin [Member] | Sohu Internet [Member] | |
Variable Interest Entity [Line Items] | |
Ownership percentage | 100.00% |
Tianjin Jinhu [Member] | Xiufeng Deng [Member] | |
Variable Interest Entity [Line Items] | |
Ownership percentage | 50.00% |
Tianjin Jinhu [Member] | Xuemei Zhang [Member] | |
Variable Interest Entity [Line Items] | |
Ownership percentage | 50.00% |
Focus Interactive [Member] | Heng Da Yi Tong [Member] | |
Variable Interest Entity [Line Items] | |
Ownership percentage | 100.00% |
Guangzhou Qianjun [Member] | Tianjin Jinhu [Member] | |
Variable Interest Entity [Line Items] | |
Ownership percentage | 100.00% |
Gamease [Member] | High Century [Member] | |
Variable Interest Entity [Line Items] | |
Ownership percentage | 100.00% |
Shanghai ICE [Member] | Gamease [Member] | |
Variable Interest Entity [Line Items] | |
Ownership percentage | 100.00% |
Guanyou Gamespace [Member] | Changyou Star [Member] | |
Variable Interest Entity [Line Items] | |
Ownership percentage | 100.00% |
VIEs (VIEs Consolidated withi_2
VIEs (VIEs Consolidated within Sohu Group, Financial Information) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
ASSETS: | |||
Cash and cash equivalents | $ 998,949,000 | $ 217,057,000 | |
Restricted cash | 1,969,000 | 330,791,000 | |
Short-term investments | 399,345,000 | 100,745,000 | |
Accounts receivable, net | 82,550,000 | 87,521,000 | |
Prepaid and other current assets | 107,311,000 | 106,590,000 | |
Assets held for sale (current) | 0 | 1,412,168,000 | |
Total current assets | 1,590,124,000 | 2,254,872,000 | |
Fixed assets, net | 329,997,000 | 337,674,000 | |
Other non-current assets | 25,589,000 | 42,140,000 | |
Total assets | 2,245,785,000 | 2,822,121,000 | |
LIABILITIES: | |||
Accounts payable | 87,447,000 | 107,611,000 | |
Accrued liabilities | 138,196,000 | 157,513,000 | |
Receipts in advance and deferred revenue | 57,041,000 | 52,055,000 | |
Liabilities held for sale (current) | 0 | 416,998,000 | |
Total current liabilities | 503,451,000 | 1,284,730,000 | |
Long-term tax liabilities | 193,918,000 | 188,760,000 | |
Deferred tax liabilities | 249,165,000 | 217,593,000 | |
Total liabilities | 953,598,000 | 1,790,140,000 | |
Cost of revenues: | |||
Total cost of revenues | 204,671,000 | 217,437,000 | $ 243,647,000 |
Operating expenses: | |||
Total operating expenses | 533,433,000 | 459,082,000 | 501,353,000 |
Net income from continuing operations | 69,271,000 | (36,527,000) | (98,499,000) |
Net loss from discontinued operations | 864,902,000 | (91,793,000) | 55,108,000 |
Cash flows from operating activities: | |||
Net cash provided by continuing operating activities | 113,610,000 | 163,394,000 | (18,267,000) |
Net cash used in discontinued operating activities | (175,888,000) | (68,187,000) | 228,857,000 |
Net cash provided by operating activities | (62,278,000) | 95,207,000 | 210,590,000 |
Cash flows from investing activities: | |||
Net cash used in continuing investing activities | (537,419,000) | 184,393,000 | (214,814,000) |
Net cash provided by/(used in) discontinued investing activities | 1,054,148,000 | 235,374,000 | (228,406,000) |
Net cash used in investing activities | 516,729,000 | 419,767,000 | (443,220,000) |
Cash flows from financing activities: | |||
Net cash provided by continuing financing activities | (424,968,000) | 101,795,000 | (479,748,000) |
Net cash provided by/(used in) discontinued financing activities | (9,132,000) | (8,209,000) | (33,415,000) |
Net cash provided by financing activities | (434,100,000) | 93,586,000 | (513,163,000) |
Variable Interest Entity Primary Beneficiary [Member] | |||
ASSETS: | |||
Cash and cash equivalents | 32,513,000 | 47,028,000 | |
Restricted cash | 0 | 1,211,000 | |
Short-term investments | 0 | 153,000 | |
Accounts receivable, net | 36,027,000 | 47,234,000 | |
Prepaid and other current assets | 18,836,000 | 15,385,000 | |
Intra-Group receivables due from the Company's subsidiaries | 647,330,000 | 506,659,000 | |
Assets held for sale (current) | 0 | 113,011,000 | |
Total current assets | 734,706,000 | 730,681,000 | |
Fixed assets, net | 427,000 | 295,000 | |
Other non-current assets | 86,744,000 | 69,284,000 | |
Total assets | 821,877,000 | 800,260,000 | |
LIABILITIES: | |||
Accounts payable | 12,325,000 | 11,145,000 | |
Accrued liabilities | 43,695,000 | 46,888,000 | |
Receipts in advance and deferred revenue | 45,844,000 | 43,076,000 | |
Other current liabilities | 24,026,000 | 37,148,000 | |
Intra-Group payables due to the Company's subsidiaries | 462,487,000 | 350,599,000 | |
Liabilities held for sale (current) | 0 | 187,712,000 | |
Total current liabilities | 588,377,000 | 676,568,000 | |
Long-term tax liabilities | 14,465,000 | 14,134,000 | |
Deferred tax liabilities | 3,323,000 | 2,014,000 | |
Other non-current liabilities | 1,750,000 | 1,819,000 | |
Total liabilities | 607,915,000 | 694,535,000 | |
Revenues: | |||
Total revenues | 686,311,000 | 583,187,000 | 511,957,000 |
Cost of revenues: | |||
Total cost of revenues | 217,946,000 | 235,050,000 | 240,809,000 |
Operating expenses: | |||
Total operating expenses | 438,888,000 | 305,779,000 | 253,930,000 |
Net income from continuing operations | 35,805,000 | 41,756,000 | 19,607,000 |
Net loss from discontinued operations | (47,924,000) | (82,329,000) | (1,491,000) |
Cash flows from operating activities: | |||
Net cash provided by continuing operating activities | 35,619,000 | 79,614,000 | 24,660,000 |
Net cash used in discontinued operating activities | (1,789,000) | (13,244,000) | (5,046,000) |
Net cash provided by operating activities | 33,830,000 | 66,370,000 | 19,614,000 |
Cash flows from investing activities: | |||
Net cash used in continuing investing activities | (164,558,000) | (107,094,000) | (53,698,000) |
Net cash provided by/(used in) discontinued investing activities | 12,116,000 | 7,797,000 | (18,040,000) |
Net cash used in investing activities | (152,442,000) | (99,297,000) | (71,738,000) |
Cash flows from financing activities: | |||
Net cash provided by continuing financing activities | 111,888,000 | 32,751,000 | 26,559,000 |
Net cash provided by/(used in) discontinued financing activities | (9,131,000) | 152,000 | 8,601,000 |
Net cash provided by financing activities | 102,757,000 | 32,903,000 | 35,160,000 |
Variable Interest Entity Primary Beneficiary [Member] | Third-party [Member] | |||
Revenues: | |||
Total revenues | 664,823,000 | 552,980,000 | 482,283,000 |
Cost of revenues: | |||
Total cost of revenues | 81,725,000 | 93,333,000 | 101,044,000 |
Operating expenses: | |||
Total operating expenses | 72,126,000 | 50,983,000 | 69,131,000 |
Variable Interest Entity Primary Beneficiary [Member] | Intra-Group [Member] | |||
Revenues: | |||
Total revenues | 21,488,000 | 30,207,000 | 29,674,000 |
Cost of revenues: | |||
Total cost of revenues | 136,221,000 | 141,717,000 | 139,765,000 |
Operating expenses: | |||
Total operating expenses | 366,762,000 | 254,796,000 | 184,799,000 |
Cash flows from operating activities: | |||
Net cash provided by operating activities | (505,553,000) | (379,649,000) | (310,243,000) |
Cash flows from investing activities: | |||
Net cash used in investing activities | (140,671,000) | (106,321,000) | (40,426,000) |
Cash flows from financing activities: | |||
Net cash provided by financing activities | 111,888,000 | 32,751,000 | 26,559,000 |
Variable Interest Entity Primary Beneficiary [Member] | External parties [Member] | |||
Cash flows from operating activities: | |||
Net cash provided by operating activities | 541,172,000 | 459,263,000 | 334,903,000 |
Cash flows from investing activities: | |||
Net cash used in investing activities | $ (23,887,000) | $ (773,000) | $ (13,272,000) |
VIEs (Narrative) (Details)
VIEs (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Variable Interest Entity [Line Items] | |||
Net cash provided by operating activities | $ (62,278) | $ 95,207 | $ 210,590 |
Net cash used in investing activities | 516,729 | 419,767 | (443,220) |
Net cash provided by financing activities | (434,100) | 93,586 | (513,163) |
VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Net cash provided by operating activities | 33,830 | 66,370 | 19,614 |
Net cash used in investing activities | (152,442) | (99,297) | (71,738) |
Net cash provided by financing activities | $ 102,757 | 32,903 | 35,160 |
As Revised [Member] | VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Increase in current payables | 17,800 | ||
Decrease in non-current payables | 17,800 | ||
Net cash provided by operating activities | 74,400 | 26,700 | |
Net cash used in investing activities | 107,100 | 53,300 | |
Net cash provided by financing activities | $ 32,800 | $ 26,600 |
VIEs (VIEs Consolidated withi_3
VIEs (VIEs Consolidated within Sohu Group, Summary of Significant Agreements Currently in Effect) (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Shareholders of Gamease [Member] | AmazGame [Member] | |
Variable Interest Entity [Line Items] | |
Power of attorney term | 10 years |
Percentage of exchange equity interests due to contributions to registered capital of equity | 100.00% |
Shareholders of Guanyou Gamespace [Member] | Gamespace [Member] | |
Variable Interest Entity [Line Items] | |
Power of attorney term | 10 years |
Percentage of exchange equity interests due to contributions to registered capital of equity | 100.00% |
VIEs [Member] | Shareholders of Tianjin Jinhu [Member] | Video Tianjin [Member] | |
Variable Interest Entity [Line Items] | |
Power of attorney term | 10 years |
Tianjin Jinhu Culture Development Co., Ltd ("Tianjin Jinhu") [Member] | Video Tianjin [Member] | |
Variable Interest Entity [Line Items] | |
Exclusive technology consulting and service agreement term | 10 years |
Tianjin Jinhu Culture Development Co., Ltd ("Tianjin Jinhu") [Member] | Shareholders of Tianjin Jinhu [Member] | Video Tianjin [Member] | |
Variable Interest Entity [Line Items] | |
Business operation agreement term | 10 years |
Beijing Gamease Age Digital Technology Co., Ltd. ("Gamease") [Member] | Shareholders of Gamease [Member] | AmazGame [Member] | |
Variable Interest Entity [Line Items] | |
Business operation agreement term | 10 years |
Beijing Guanyou Gamespace Digital Technology Co., Ltd. ("Guanyou Gamespace") [Member] | Shareholders of Guanyou Gamespace [Member] | Gamespace [Member] | |
Variable Interest Entity [Line Items] | |
Business operation agreement term | 10 years |
Beijing Sohu Internet Information Service Co., Ltd. ("Sohu Internet") [Member] | Sohu Era [Member] | |
Variable Interest Entity [Line Items] | |
Exclusive technology consulting and service agreement term | 2 years |
Donglin [Member] | Sohu Media [Member] | |
Variable Interest Entity [Line Items] | |
Exclusive technology consulting and service agreement term | 3 years |
Sohu.com Limited Shareholders_3
Sohu.com Limited Shareholders' Equity (Summary of Sohu.com Limited's Outstanding Shares) (Details) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Balance, beginning of year | 39,306 | ||
Balance, end of year | 38,221 | 39,306 | |
Sohu.com Limited [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Balance, beginning of year | 39,306 | 39,269 | 39,229 |
Issuances: | 44 | 37 | 40 |
Repurchases: | (1,129) | 0 | 0 |
Balance, end of year | 38,221 | 39,306 | 39,269 |
Sohu.com Limited Shareholders_4
Sohu.com Limited Shareholders' Equity (Treasury Stock, Narrative) (Details) - Sohu American Depository Shares [Member] - Sohu Share Repurchase Program [Member] - USD ($) $ in Millions | Nov. 13, 2021 | Dec. 31, 2021 |
Equity, Class of Treasury Stock [Line Items] | ||
Stock repurchase program authorized amount | $ 100 | |
Share repurchase program period | 12 months | |
Stock repurchase program expiration date | Nov. 12, 2022 | |
Number of shares repurchased | 1,129,228 | |
Aggregate cost of shares repurchased | $ 18.7 |
Sohu.com Limited Shareholders_5
Sohu.com Limited Shareholders' Equity (Sohu's 2018 Share Incentive Plan, Narrative) (Details) - Sohu.com Limited [Member] - shares | Jul. 02, 2010 | Dec. 31, 2021 | Apr. 02, 2018 |
Sohu 2010 Stock Incentive Plan [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum term of share rights granted under share incentive plan | 10 years | ||
Sohu 2010 Stock Incentive Plan [Member] | Common Stock [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares authorized for issuance | 1,500,000 | ||
Sohu 2018 Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Plan expiration date | Apr. 30, 2028 | ||
Sohu 2018 Share Incentive Plan [Member] | Common Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares available for grant | 214,405 | ||
Sohu 2018 Share Incentive Plan [Member] | Common Stock [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares authorized for issuance | 1,148,565 |
Sohu.com Limited Shareholders_6
Sohu.com Limited Shareholders' Equity (Sohu's 2018 Share Incentive Plan, Share Option Activity, Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||||||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2021 | Sep. 30, 2020 | Jul. 31, 2019 | Feb. 28, 2019 | Nov. 30, 2017 | Sep. 30, 2017 | May 31, 2016 | Feb. 28, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Share-based compensation expense | $ 8,578 | $ 14,480 | $ 2,350 | ||||||||
Sohu.com Limited [Member] | Sohu 2010 Stock Incentive Plan [Member] | Stock Options [Member] | Common Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Number of shares under contractually granted share options | 6,000 | 32,000 | 13,000 | 1,068,000 | |||||||
Exercise prices of option granted | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||||||
Sohu.com Limited [Member] | Sohu 2018 Share Incentive Plan [Member] | Stock Options [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Installments of share options granted | four equal installments | ||||||||||
Award vesting period | 4 years | ||||||||||
Number of options granted in period | 113,000 | ||||||||||
Total fair value of stock options granted | $ 28,500 | ||||||||||
Share-based compensation expense | 1,800 | 2,600 | (1,900) | ||||||||
Total fair values of share options vested | 2,100 | 1,000 | 2,500 | ||||||||
Total intrinsic value of share options exercised | $ 800 | $ 700 | $ 600 | ||||||||
Sohu.com Limited [Member] | Sohu 2018 Share Incentive Plan [Member] | Stock Options [Member] | Common Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Number of shares under contractually granted share options | 5,000 | 34,000 | 477,500 | 20,000 | |||||||
Exercise prices of option granted | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||||||
Number of options granted in period | 927,788 |
Sohu.com Limited Shareholders_7
Sohu.com Limited Shareholders' Equity (Sohu's 2018 Share Incentive Plan, Share Option Activity) (Details) - Sohu.com Limited [Member] - Sohu 2018 Share Incentive Plan [Member] - Share Options [Member] $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2021USD ($)$ / sharesshares | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of Shares, Outstanding, Beginning balance | shares | 197 | |
Number of Shares, Granted | shares | 113 | |
Number of Shares, Exercised | shares | (39) | |
Number of Shares, Forfeited or expired | shares | 0 | |
Number of Shares, Outstanding, Ending balance | shares | 271 | |
Number of Shares, Vested, Ending balance | shares | 271 | |
Number of Shares, Exercisable, Ending balance | shares | 271 | |
Weighted Average Exercise Price, Outstanding, Beginning balance | $ / shares | $ 0.001 | |
Weighted Average Exercise Price, Granted | $ / shares | 0.001 | |
Weighted Average Exercise Price, Exercised | $ / shares | 0.001 | |
Weighted Average Exercise Price, Outstanding, Ending balance | $ / shares | 0.001 | |
Weighted Average Exercise Price, Vested, Ending balance | $ / shares | 0.001 | |
Weighted Average Exercise Price, Exercisable, Ending balance | $ / shares | $ 0.001 | |
Weighted Average Remaining Contractual Life (Years), Outstanding, Ending balance | 5 years 10 months 13 days | |
Weighted Average Remaining Contractual Life (Years), Vested, Ending balance | 5 years 10 months 13 days | |
Weighted Average Remaining Contractual Life (Years), Exercisable, Ending balance | 5 years 10 months 13 days | |
Aggregate Intrinsic Value, Outstanding, Ending balance | $ | $ 4,412 | [1] |
Aggregate Intrinsic Value, Vested, Ending balance | $ | 4,412 | [1] |
Aggregate Intrinsic Value, Exercisable, Ending balance | $ | $ 4,412 | [1] |
ADS [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Closing price | $ / shares | $ 16.28 | |
[1] | The aggregated intrinsic value in the preceding table represents the difference between Sohu’s closing ADS price of $16.28 on December 31, 2021 and the nominal exercise price of the options. |
Sohu.com Limited Shareholders_8
Sohu.com Limited Shareholders' Equity (Changyou 2014 Share Incentive Plan, Narrative) (Details) - USD ($) | Apr. 17, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Aug. 26, 2019 | Jul. 28, 2016 | Jun. 01, 2015 | Feb. 16, 2015 | Nov. 02, 2014 | Jun. 27, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Share-based compensation expense | $ 8,578,000 | $ 14,480,000 | $ 2,350,000 | |||||||
Changyou 2014 Share Incentive Plan [Member] | Share Options [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of Shares, Granted | 4,488,500 | |||||||||
Total fair value of stock options granted | $ 4,100,000 | |||||||||
Total fair values of share options vested | 4,100,000 | 4,200,000 | 1,000,000 | |||||||
Total intrinsic value of share options exercised | $ 0 | 100,000 | 6,600,000 | |||||||
Changyou [Member] | Share Options [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of Shares, Granted | 5,443,000 | |||||||||
Changyou [Member] | Class A Ordinary Shares [Member] | Changyou Merger [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Consideration Per Share | $ 5.40 | |||||||||
Changyou [Member] | Class A Ordinary Shares [Member] | Share Options [Member] | Changyou Merger [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Exercise prices of option granted | 0.01 | |||||||||
Changyou [Member] | Changyou 2014 Share Incentive Plan [Member] | Share Options [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Installments of share options granted | four equal installments | |||||||||
Award vesting period | 4 years | |||||||||
Changyou [Member] | Changyou 2014 Share Incentive Plan [Member] | Class A Ordinary Shares [Member] | Share Options [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Installments of share options granted | four equal installments | |||||||||
Changyou [Member] | Changyou 2014 Share Incentive Plan [Member] | Class A Ordinary Shares [Member] | Share Options [Member] | Changyou Merger [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Exercise prices of option granted | 0.01 | |||||||||
Accrued fixed price, final | 5.39 | |||||||||
Share Based Compensation Arrangement By Share Based Payment Award Per Share Fixed Price | 5.39 | |||||||||
Share Based Compensation Arrangement By Share Based Payment Award Options Accrued Fixed Price Initial | 5.39 | |||||||||
Consideration Per Share | 5.40 | |||||||||
Changyou [Member] | Changyou 2014 Share Incentive Plan [Member] | Certain members of management and certain other employees [Member] | Share Options [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Share-based compensation expense | $ 3,900,000 | $ 7,700,000 | $ (1,900,000) | |||||||
Changyou [Member] | Changyou 2014 Share Incentive Plan [Member] | Certain members of management and certain other employees [Member] | Class A Ordinary Shares [Member] | Share Options [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Shares reserved for future issuance | 6,000,000 | 2,000,000 | ||||||||
Plan expiration date | Jun. 30, 2024 | |||||||||
Number of shares under contractually granted share options | 3,023,000 | 100,000 | 1,998,000 | |||||||
Exercise prices of option granted | 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||||
Installments of share options granted | four equal installments | |||||||||
Award vesting period | 4 years | |||||||||
Changyou [Member] | Changyou 2014 Share Incentive Plan [Member] | Certain members of management and certain other employees [Member] | Class A Ordinary Shares [Member] | Maximum [Member] | Share Options [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Maximum term of share rights granted under share incentive plan | 10 years | |||||||||
Changyou [Member] | Changyou 2014 Share Incentive Plan [Member] | Certain members of management and certain other employees [Member] | Class A restricted share units [Member] | Share Options [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of shares under contractually granted share options | 2,416,000 | |||||||||
Changyou [Member] | Changyou 2014 Share Incentive Plan [Member] | Certain members of management and certain other employees [Member] | Class A restricted share units [Member] | Maximum [Member] | Share Options [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of Class A restricted share units converted to options | 2,400,000 | |||||||||
Changyou [Member] | Changyou 2014 and 2019 Share Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Total fair value of stock options granted | $ 23,500,000 | |||||||||
Changyou [Member] | Changyou 2014 and 2019 Share Incentive Plan [Member] | Class A Ordinary Shares [Member] | Share Options [Member] | Changyou Merger [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Accrued fixed price, final | 5.39 | |||||||||
Share Based Compensation Arrangement By Share Based Payment Award Options Accrued Fixed Price Initial | 5.39 | |||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Not Exercisable in Period, Conditionally Repurchased, Exercise Price | $ 5.39 |
Sohu.com Limited Shareholders_9
Sohu.com Limited Shareholders' Equity (Changyou 2019 Share Incentive Plan) (Details) - USD ($) $ / shares in Units, $ in Thousands | Apr. 17, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Feb. 02, 2021 | Aug. 26, 2019 | Aug. 03, 2019 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based compensation expense | $ 8,578 | $ 14,480 | $ 2,350 | ||||
Changyou 2019 Share Incentive Plan [Member] | Share Options [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of options granted in period | 954,500 | ||||||
Changyou [Member] | Share Options [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of options granted in period | 5,443,000 | ||||||
Changyou [Member] | Share Options [Member] | Class A ordinary shares [Member] | Changyou Merger [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Exercise prices of option granted | $ 0.01 | ||||||
Changyou [Member] | Changyou 2019 Share Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Toal share based compensation expense | $ 3,900 | 4,800 | |||||
Total value of share options vested | $ 2,600 | $ 2,600 | |||||
Changyou [Member] | Changyou 2019 Share Incentive Plan [Member] | Class A ordinary shares [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share based compensation by share based payment arrangement options excercised exercise price per share | 5.39 | ||||||
Changyou [Member] | Changyou 2019 Share Incentive Plan [Member] | Share Options [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Installments of share options granted | four equal installments | ||||||
Award vesting period | 4 years | ||||||
Share-based compensation expense | $ 2,600 | ||||||
Changyou [Member] | Changyou 2019 Share Incentive Plan [Member] | Share Options [Member] | Class A ordinary shares [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Shares reserved for issuance | 3,000,000 | ||||||
Changyou [Member] | Changyou 2019 Share Incentive Plan [Member] | Share Options [Member] | Class A ordinary shares [Member] | Changyou Merger [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based Compensation Arrangements by Share-based Payment Award Options Not Exercisable in Period Conditionally Repurchased Price | 5.39 | ||||||
Accrued fixed price, initial | 5.39 | ||||||
Accrued fixed price, final | $ 5.39 | ||||||
Changyou [Member] | Changyou 2019 Share Incentive Plan [Member] | Share Options [Member] | Class A ordinary shares [Member] | Certain members of management and certain other employees [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of shares under contractually granted share options | 600,000 | 1,909,000 | |||||
Exercise prices of option granted | $ 0.01 | $ 0.01 |
Sohu.com Limited Shareholder_10
Sohu.com Limited Shareholders' Equity (Sohu Video Share-based Awards, Narrative) (Details) - USD ($) $ in Thousands | Jan. 04, 2012 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation expense | $ 8,578 | $ 14,480 | $ 2,350 | |
Sohu Video Share Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Installments of share options granted | four equal installments | |||
Sohu Video [Member] | Sohu Video Share Incentive Plan [Member] | Share Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Plan expiration date | Jan. 4, 2022 | |||
Sohu Video [Member] | Sohu Video Share Incentive Plan [Member] | Ordinary Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares reserved for future issuance | 25,000,000 | |||
Sohu Video [Member] | Sohu Video Share Incentive Plan [Member] | Ordinary Shares [Member] | Share Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares under contractually granted share options | 16,368,200 | |||
Installments of share options granted | four equal installments | |||
Number of shares purchased on vested options | 4,972,800 | |||
Share-based compensation expense | $ (1,000) | $ (700) | $ (900) | |
Sohu Video [Member] | Sohu Video Share Incentive Plan [Member] | Ordinary Shares [Member] | Share Options [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Maximum term of share rights granted under share incentive plan | 10 years | |||
Sohu Video [Member] | Video 2011 Share Incentive Plan [Member] | Ordinary Shares [Member] | Share Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares under contractually granted share options | 16,368,200 | |||
Installments of share options granted | four equal installments | |||
Number of shares purchased on vested options | 4,972,800 |
Sohu.com Limited Shareholder_11
Sohu.com Limited Shareholders' Equity (Sohu Video Share-based Awards, Share Option Assumptions) (Details) - Sohu Video [Member] - Sohu Video Share Incentive Plan [Member] - Share Options [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Average risk-free interest rate | 0.59% | 1.11% |
Exercise multiple | 2.8 | 2.8 |
Expected forfeiture rate (post-vesting) | 2.00% | 5.00% |
Weighted average expected option life | 0 years | 1 year |
Volatility rate | 97.30% | 57.30% |
Dividend yield | 0.00% | 0.00% |
Fair value | $ 0 | $ 0.21 |
Noncontrolling Interest (Narrat
Noncontrolling Interest (Narrative) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 17, 2020 | |
Noncontrolling Interest [Line Items] | ||||
Noncontrolling interest in consolidated balance sheets | $ 1,318,000 | $ 684,612,000 | ||
Net income /(loss) attributable to noncontrolling interest in consolidated statements of comprehensive income | 6,448,000 | (42,208,000) | $ 105,945,000 | |
Changyou [Member] | ||||
Noncontrolling Interest [Line Items] | ||||
Noncontrolling interest in consolidated balance sheets | 1,318,000 | 1,321,000 | ||
Percentage of ordinary shares held | 100.00% | |||
Net income /(loss) attributable to noncontrolling interest in consolidated statements of comprehensive income | $ (3,000) | $ 18,448,000 | $ 46,990,000 | |
Percentage of net income/(loss) attributable to noncontrolling interest recognized in consolidated statements of comprehensive income | 0.00% | 0.00% | 33.00% | |
Sogou [Member] | ||||
Noncontrolling Interest [Line Items] | ||||
Noncontrolling interest in consolidated balance sheets | $ 0 | $ 683,291,000 | ||
Percentage of noncontrolling interest recognized in consolidated balance sheets | 0.00% | 66.00% | ||
Net income /(loss) attributable to noncontrolling interest in consolidated statements of comprehensive income | $ 6,451,000 | $ (60,656,000) | $ 58,955,000 |
Noncontrolling Interest (Noncon
Noncontrolling Interest (Noncontrolling Interest in Consolidated Balance Sheets) (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Noncontrolling Interest [Line Items] | ||
Noncontrolling interest in consolidated balance sheets | $ 1,318,000 | $ 684,612,000 |
Changyou [Member] | ||
Noncontrolling Interest [Line Items] | ||
Noncontrolling interest in consolidated balance sheets | 1,318,000 | 1,321,000 |
Sogou [Member] | ||
Noncontrolling Interest [Line Items] | ||
Noncontrolling interest in consolidated balance sheets | $ 0 | $ 683,291,000 |
Noncontrolling Interest (Nonc_2
Noncontrolling Interest (Noncontrolling Interest in Consolidated Statements of Comprehensive Income /(Loss)) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Noncontrolling Interest [Line Items] | |||
Net income/(loss) attributable to noncontrolling interest shareholders | $ 6,448,000 | $ (42,208,000) | $ 105,945,000 |
Net income/(loss) from continuing operations attributable to noncontrolling shareholders | (3,000) | 18,448,000 | 58,223,000 |
Net income/(loss) from discontinued operations attributable to noncontrolling shareholders | 6,451,000 | (60,656,000) | 47,722,000 |
Changyou [Member] | |||
Noncontrolling Interest [Line Items] | |||
Net income/(loss) attributable to noncontrolling interest shareholders | (3,000) | 18,448,000 | 46,990,000 |
Sogou [Member] | |||
Noncontrolling Interest [Line Items] | |||
Net income/(loss) attributable to noncontrolling interest shareholders | $ 6,451,000 | $ (60,656,000) | $ 58,955,000 |
Net Income_(Loss) per Share (Na
Net Income/(Loss) per Share (Narrative) (Details) - Changyou [Member] - Changyou Merger [Member] | Apr. 17, 2020$ / shares |
Class A ordinary shares [Member] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Line Items] | |
Consideration Per Share | $ 5.40 |
Class A ordinary shares [Member] | Share Options [Member] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Line Items] | |
Exercise Price of Shares | 0.01 |
Changyou 2014 Share Incentive Plan [Member] | Class A ordinary shares [Member] | Share Options [Member] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Line Items] | |
Weighted Average Exercise Price, Exercised | 5.39 |
Consideration Per Share | 5.40 |
Exercise Price of Shares | 0.01 |
Share-based compensation by share based payment arrangement per share weighted average price per share | 5.39 |
Accrued fixed price, initial | 5.39 |
Accrued fixed price, final | 5.39 |
Changyou 2014 and 2019 Share Incentive Plan [Member] | Class A ordinary shares [Member] | Share Options [Member] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Line Items] | |
Share-based compensation by share based payment arrangement per share weighted average price per share | 5.39 |
Accrued fixed price, initial | 5.39 |
Accrued fixed price, final | $ 5.39 |
Sohu [Member] | Ordinary Shares [Member] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Line Items] | |
Percentage of ordinary shares held | 100.00% |
Net Income_(Loss) per Share (Ca
Net Income/(Loss) per Share (Calculation of Sohu Group's Basic and Diluted Net Loss per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Numerator: | |||
Net income/(loss) from continuing operations attributable to Sohu.com Limited, basic | $ 69,274 | $ (54,975) | $ (156,722) |
Net income/(loss) from discontinued operations attributable to Sohu.com Limited, basic | 858,451 | (31,137) | 7,386 |
Net income/(loss) attributable to Sohu.com Limited, basic | 927,725 | (86,112) | (149,336) |
Effect of dilutive securities: | |||
Net income/(loss) from continuing operations attributable to Sohu.com Limited, diluted | 69,274 | (55,365) | (157,282) |
Net income/(loss) from discontinued operations attributable to Sohu.com Limited, diluted | 858,431 | (31,139) | 6,833 |
Net income/(loss) attributable to Sohu.com Limited, diluted | $ 927,705 | $ (86,504) | $ (150,449) |
Denominator: | |||
Weighted average basic ordinary shares outstanding | 39,501 | 39,452 | 39,249 |
Effect of dilutive securities: | |||
Share options and restricted share units | 0 | 0 | 0 |
Weighted average diluted ordinary shares outstanding | 39,501 | 39,452 | 39,249 |
Basic net income/(loss) per share attributable to Sohu.com Limited | |||
Continuing operations | $ 1.75 | $ (1.39) | $ (3.99) |
Discontinued operations | 21.74 | (0.79) | 0.19 |
Net income/(loss) per share | 23.49 | (2.18) | (3.80) |
Diluted net income/(loss) per share attributable to Sohu.com Limited | |||
Continuing operations | 1.75 | (1.40) | (4.01) |
Discontinued operations | 21.74 | (0.79) | 0.18 |
Net loss per share | $ 23.49 | $ (2.19) | $ (3.83) |
Changyou [Member] | |||
Effect of dilutive securities: | |||
Incremental dilution | $ 0 | $ (392) | $ (507) |
Sogou [Member] | |||
Effect of dilutive securities: | |||
Incremental dilution | $ (20) | $ 0 | $ (606) |
China Contribution Plan (Detail
China Contribution Plan (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
China | |||
Multiemployer Plans [Line Items] | |||
Annual Contributions | $ 83.1 | $ 59.2 | $ 79.2 |
Profit Appropriation (Details)
Profit Appropriation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Profit Appropriation [Line Items] | |||
Required percentage of after-tax-profit under PRC GAAP to be set aside as statutory surplus fund | 10.00% | ||
Required registered capital ratio to de-force compulsory net profit allocation to statutory surplus fund | 50.00% | ||
Total amount of profits contributed to funds | $ 0.1 | $ 0.4 | $ 10.4 |
Total balance of profits contributed to funds | $ 57.2 | $ 81.1 | |
China Foreign Investment Enterprises Law [Member] | Minimum [Member] | |||
Profit Appropriation [Line Items] | |||
Required percentage of after-tax-profit under PRC GAAP to be set aside as a general reserve fund | 10.00% | ||
Required registered capital ratio to de-force compulsory net profit allocation to general reserve fund | 50.00% | ||
China Company Law [Member] | Minimum [Member] | |||
Profit Appropriation [Line Items] | |||
Required percentage of after-tax-profit under PRC GAAP to be set aside as statutory surplus fund | 10.00% | ||
Required registered capital ratio to de-force compulsory net profit allocation to statutory surplus fund | 50.00% |
Concentration Risks (Details)
Concentration Risks (Details) | 12 Months Ended | ||
Dec. 31, 2021USD ($)Institutions | Dec. 31, 2020USD ($)Institutions | Dec. 31, 2019USD ($) | |
Concentration Risk [Line Items] | |||
Revenues | $ 835,576,000 | $ 749,890,000 | $ 673,803,000 |
TLBB PC [Member] | |||
Concentration Risk [Line Items] | |||
Revenues | 421,700,000 | ||
Legacy TLBB Mobile [Member] | |||
Concentration Risk [Line Items] | |||
Revenues | $ 79,500,000 | ||
Customer Risk [Member] | Total revenues [Member] | |||
Concentration Risk [Line Items] | |||
Description of concentration risk for operation risk | For the years ended December 31, 2021, 2020 and 2019, there were no revenues from customers that individually represent greater than 10% of the total online advertising revenues. | For the years ended December 31, 2021, 2020 and 2019, there were no revenues from customers that individually represent greater than 10% of the total online advertising revenues. | For the years ended December 31, 2021, 2020 and 2019, there were no revenues from customers that individually represent greater than 10% of the total online advertising revenues. |
Revenues from customers that individually represent greater than 10% of total advertising revenues | $ 0 | $ 0 | $ 0 |
Product Risk [Member] | Total revenues [Member] | TLBB PC [Member] | |||
Concentration Risk [Line Items] | |||
Percentage of concentration risk | 50.00% | ||
Product Risk [Member] | Total revenues [Member] | Legacy TLBB Mobile [Member] | |||
Concentration Risk [Line Items] | |||
Percentage of concentration risk | 10.00% | ||
Product Risk [Member] | Total revenues [Member] | Changyou [Member] | TLBB PC [Member] | |||
Concentration Risk [Line Items] | |||
Percentage of concentration risk | 65.00% | ||
Product Risk [Member] | Total revenues [Member] | Changyou [Member] | Legacy TLBB Mobile [Member] | |||
Concentration Risk [Line Items] | |||
Percentage of concentration risk | 12.00% | ||
Product Risk [Member] | Online game revenues [Member] | Changyou [Member] | TLBB PC [Member] | |||
Concentration Risk [Line Items] | |||
Percentage of concentration risk | 66.00% | ||
Product Risk [Member] | Online game revenues [Member] | Changyou [Member] | Legacy TLBB Mobile [Member] | |||
Concentration Risk [Line Items] | |||
Percentage of concentration risk | 12.00% | ||
Credit Risk [Member] | Cash and Cash Equivalents, Short Term Investments, and Long Term Time Deposits [Member] | |||
Concentration Risk [Line Items] | |||
Maximum percentage of Sohu's cash and bank deposits in any single financial institution | 35.00% | ||
Credit Risk [Member] | Cash and Cash Equivalents, Short Term Investments, and Long Term Time Deposits [Member] | CHINA | |||
Concentration Risk [Line Items] | |||
Percentage of concentration risk | 61.00% | ||
Number of financial institutions cash and cash equivalents and short-term investment concentrated held in | Institutions | 16 | ||
Credit Risk [Member] | Cash and cash equivalents and short-term investments [Member] | |||
Concentration Risk [Line Items] | |||
Maximum percentage of Sohu's cash and bank deposits in any single financial institution | 59.00% | ||
Credit Risk [Member] | Cash and cash equivalents and short-term investments [Member] | CHINA | |||
Concentration Risk [Line Items] | |||
Percentage of concentration risk | 95.00% | ||
Number of financial institutions cash and cash equivalents and short-term investment concentrated held in | Institutions | 22 |
Restricted Net Assets (Details)
Restricted Net Assets (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
RESTRICTED NET ASSETS [Abstract] | |
Portion of net after-tax income to be allocated to statutory surplus reserve fund | 10.00% |
Percentage rate of registered capital, reserve funds reached, appropriation not required | 50.00% |
Restricted net assets, amount | $ 1,290 |