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Cover Page	12 Months Ended
Cover Page	Dec. 31, 2019 shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	Baidu, Inc.
Entity Central Index Key	0001329099
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Transition Report	false
Document Annual Report	true
Document Shell Company Report	false
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity File Number	000-51469
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Baidu CampusNo. 10 Shangdi 10th Street
Entity Address, City or Town	Haidian District
Entity Address, Postal Zip Code	100085
Entity Address, Country	CN
Document Registration Statement	false
Document Accounting Standard	U.S. GAAP
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	Baidu Campus No. 10 Shangdi 10th Street
Entity Address, City or Town	Haidian District
Entity Address, Postal Zip Code	100085
Entity Address, Country	CN
Local Phone Number	5992-8888
City Area Code	86 10
Contact Personnel Name	Herman Yu, Chief Financial Officer
Contact Personnel Fax Number	(86 10) 5992-0000
Contact Personnel Email Address	ir@baidu.com
Class A Ordinary Shares
Document Information [Line Items]
No Trading Symbol Flag	true
Entity Common Stock, Shares Outstanding	27,381,621
Security Exchange Name	NASDAQ
Title of 12(g) Security	Class A ordinary shares, par value US$0.00005 per share
Class B Ordinary Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	7,201,254
American Depositary Shares [Member]
Document Information [Line Items]
Trading Symbol	BIDU
Security Exchange Name	NASDAQ
Title of 12(g) Security	American depositary shares

Consolidated Balance Sheets ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 33,443	$ 4,804	¥ 27,638
Restricted cash	996	143	2,189
Short-term investments	112,924	16,221	111,626
Accounts receivable, net of allowance of RMB599 and RMB928 (US$133) for 2018 and 2019, respectively	7,416	1,065	6,015
Amounts due from related parties	1,594	229	785
Other current assets, net	9,189	1,320	6,841
Total current assets	165,562	23,782	155,094
Non-current assets:
Fixed assets, net	18,311	2,630	17,903
Intangible assets, net	7,887	1,133	9,181
Goodwill	18,250	2,621	18,536
Long-term investments, net	69,410	9,970	80,454
Amounts due from related parties	3,564	512	4,297
Deferred tax assets, net	2,193	315	2,324
Operating lease right-of-use assets	7,332	1,053	0
Other non-current assets	8,807	1,264	9,777
Total non-current assets	135,754	19,498	142,472
Total assets	301,316	43,280	297,566
Current liabilities (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB18,812 and RMB24,692 (US$3,547) as of December 31, 2018 and 2019, respectively):
Short-term loans	2,618	376	3,046
Accounts payable and accrued liabilities	32,701	4,698	35,381
Customer deposits and deferred revenue	11,062	1,589	9,221
Deferred income	529	76	523
Long-term loans, current portion	737	106	84
Notes payable, current portion	5,219	750	6,871
Amounts due to related parties	2,231	320	1,727
Operating lease liabilities	2,283	328	0
Total current liabilities	57,380	8,243	56,853
Non-current liabilities (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB2,417 and RMB6,295 (US$904) as of December 31, 2018 and 2019, respectively):
Deferred income	17	2	54
Deferred revenue	1,009	145	1,309
Amounts due to related parties	3,846	552	4,360
Long-term loans	7,804	1,121	7,456
Notes payable	38,090	5,471	42,735
Convertible senior notes	12,297	1,766	4,712
Deferred tax liabilities	3,273	470	4,099
Operating lease liabilities	4,486	644	0
Other non-current liabilities	299	44	236
Total non-current liabilities	71,121	10,215	64,961
Total liabilities	128,501	18,458	121,814
Commitments and contingencies
Redeemable noncontrolling interests	1,109	159	716
Equity
Additional paid-in capital	38,714	5,561	33,441
Retained earnings	126,268	18,137	129,246
Accumulated other comprehensive income (loss)	(1,383)	(199)	210
Total Baidu, Inc. shareholders' equity	163,599	23,499	162,897
Noncontrolling interests	8,107	1,164	12,139
Total equity	171,706	24,663	175,036
Total liabilities, redeemable noncontrolling interests and equity	301,316	43,280	297,566
Class A Ordinary Shares
Equity
Ordinary shares, value	0	0	0
Class B Ordinary Shares
Equity
Ordinary shares, value	¥ 0	$ 0	¥ 0

Consolidated Balance Sheets (Parenthetical) ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 CNY (¥) shares	Dec. 31, 2018 USD ($) $ / shares shares
Allowance for doubtful accounts receivable	¥ 928	$ 133	¥ 599	$ 86
Total current liabilities	57,380	8,243	56,853
Total non-current liabilities	¥ 71,121	$ 10,215	64,961
Common stock, par value per share \| $ / shares		$ 0.00005
Common stock, shares authorized	870,400,000	870,400,000
Variable Interest Entity, Primary Beneficiary
Total current liabilities	¥ 24,692	$ 3,547	18,812
Total non-current liabilities	¥ 6,295	$ 904	¥ 2,417
Class A Ordinary Shares
Common stock, par value per share \| $ / shares		$ 0.00005		$ 0.00005
Common stock, shares authorized	825,000,000	825,000,000	825,000,000	825,000,000
Common stock, shares issued	27,381,621	27,381,621	27,733,692	27,733,692
Common stock, shares outstanding	27,381,621	27,381,621	27,733,692	27,733,692
Class B Ordinary Shares
Common stock, par value per share \| $ / shares		$ 0.00005		$ 0.00005
Common stock, shares authorized	35,400,000	35,400,000	35,400,000	35,400,000
Common stock, shares issued	7,201,254	7,201,254	7,201,254	7,201,254
Common stock, shares outstanding	7,201,254	7,201,254	7,201,254	7,201,254

Consolidated Statements Of Comprehensive Income (Loss) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥) ¥ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 CNY (¥) ¥ / shares shares	Dec. 31, 2017 CNY (¥) ¥ / shares shares
Revenues:
Total revenues	¥ 107,413	$ 15,429	¥ 102,277
Total revenues \| ¥				¥ 84,809
Operating costs and expenses:
Cost of revenues	62,850	9,028	51,744	43,062
Selling, general and administrative	19,910	2,860	19,231	13,128
Research and development	18,346	2,635	15,772	12,928
Total operating costs and expenses	101,106	14,523	86,747	69,118
Operating profit	6,307	906	15,530	15,691
Other income:
Interest income	6,060	870	4,451	3,154
Interest expense	(2,960)	(425)	(1,883)	(1,615)
Foreign exchange gain (loss), net	(33)	(5)	(122)	(482)
Loss from equity method investments	(1,254)	(180)	(79)	(63)
Others, net	(8,460)	(1,215)	9,428	4,598
Total other income(loss), net	(6,647)	(955)	11,795	5,592
Income (loss) before income taxes	(340)	(49)	27,325	21,283
Income taxes	1,948	279	4,743	2,995
Net income (loss)	(2,288)	(328)	22,582	18,288
Less: net income (loss) attributable to noncontrolling interests	(4,345)	(624)	(4,991)	(13)
Net income attributable to Baidu, Inc.	2,057	296	27,573	18,301
Other comprehensive income (loss):
Foreign currency translation adjustments	(782)	(113)	194	803
Unrealized gains (losses) on available-for-sale investments, net of reclassification	(708)	(102)	92	1,575
Other comprehensive income (loss), net of tax	(1,490)	(215)	286	2,378
Comprehensive income (loss)	(3,778)	(543)	22,868	20,666
Less: comprehensive income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests	(4,242)	(609)	(3,985)	(348)
Comprehensive income attributable to Baidu, Inc.	¥ 464	$ 66	¥ 26,853	¥ 21,014
Common Class A and Class B
Earnings per shares:
Basic \| (per share)	¥ 56.84	$ 8.16	¥ 786.36	¥ 527.51
Diluted \| (per share)	¥ 55.96	$ 8.04	¥ 780.27	¥ 524.08
Weighted average number of Class A and Class B ordinary shares outstanding:
Basic	34,834,497	34,834,497	34,898,589	34,725,123
Diluted	34,884,854	34,884,854	35,171,043	34,952,391
Class A Ordinary Shares
Earnings per shares:
Basic \| (per share)	¥ 56.84	$ 8.16	¥ 786.36	¥ 527.51
Diluted \| (per share)	¥ 55.96	$ 8.04	¥ 780.27	¥ 524.08
Weighted average number of Class A and Class B ordinary shares outstanding:
Basic	27,633,243	27,633,243	27,697,335	27,464,760
Diluted	34,884,854	34,884,854	35,171,043	34,952,391
Class A Ordinary Shares \| American Depositary Shares
Earnings per shares:
Basic \| (per share)	¥ 5.68	$ 0.82	¥ 78.64	¥ 52.75
Diluted \| (per share)	¥ 5.60	$ 0.80	¥ 78.03	¥ 52.41
Online Marketing Services
Revenues:
Total revenues	¥ 78,093	$ 11,217	¥ 81,912
Total revenues \| ¥				¥ 73,146
Others
Revenues:
Total revenues	¥ 29,320	$ 4,212	¥ 20,365
Total revenues \| ¥				¥ 11,663

Consolidated Statements Of Comprehensive Income (Parenthetical)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class A Ordinary Shares
Number of American depositary shares (ADSs) representing one Class A ordinary share	10	10	10

Consolidated Statements of Cash Flows ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Cash flows from operating activities:
Net income (loss)	¥ (2,288)	$ (328)	¥ 22,582	¥ 18,288
Adjustments to reconcile net income to net cash generated from operating activities:
Depreciation of fixed assets and computer parts	5,615	807	3,730	3,805
Amortization of intangible assets	13,546	1,946	12,457	7,943
Deferred income tax, net	(696)	(100)	(761)	(756)
Share-based compensation	5,626	808	4,676	3,244
Provision for doubtful accounts	429	61	451	585
Investment and interest income	(2,305)	(332)	(7,648)	(3,244)
Amortization and impairment of produced content	2,977	428	2,266	811
Impairment of other assets	10,714	1,539	1,389	2,358
Loss from equity method investments	1,254	180	79	63
(Gain) loss on disposal of subsidiaries	578	83	(5,525)	(5,550)
Barter transaction revenue	(683)	(98)	(1,083)	(763)
Other non-cash expenses	456	66	124	362
Other	(78)	(11)	(51)	(30)
Changes in operating assets and liabilities, net of effects of acquisitions and disposals:
Accounts receivable	(1,779)	(256)	(1,611)	(721)
Amounts due from related parties	(135)	(19)	527	178
Other assets	(4,459)	(640)	(1,333)	448
Customer deposits and deferred revenue	1,515	217	912	966
Accounts payable and accrued liabilities	(1,653)	(238)	4,094	5,100
Deferred income	(37)	(5)	(64)	47
Amounts due to related parties	(139)	(20)	756	(306)
Net cash provided by operating activities	28,458	4,088	35,967	32,828
Cash flows from investing activities:
Acquisition of fixed assets	(6,428)	(923)	(8,772)	(4,779)
Acquisition of businesses, net of cash acquired	(969)	(139)	(1,978)	(553)
Acquisition of licensed copyrights	(12,152)	(1,745)	(13,116)	(9,087)
Acquisition of intangible assets excluding licensed copyrights	(541)	(78)	(385)	(35)
Purchases of held-to-maturity investments	(120,189)	(17,264)	(27,640)	(56,150)
Maturities of held-to-maturity investments	46,563	6,688	49,040	49,580
Purchases of available-for-sale debt investments	(218,171)	(31,338)	(284,149)	(209,628)
Sales and maturities of available-for-sale debt investments	291,163	41,823	239,861	198,517
Purchases of other long-term investments	(6,322)	(908)	(9,891)	(12,499)
Proceeds from disposal of long-term investments	7,517	1,079	2,524	19
Disposal of subsidiaries' shares	(476)	(68)	5,581	1,431
Loans provided to related parties	0	0	(8,632)	0
Repayment of loans provided to related parties	24	3	12,270	0
Micro loan origination and disbursement	0	0	(35,824)	(63,597)
Principal payments received on micro loans	0	0	38,063	40,075
Purchases of other invested securities	0	0	(16,362)	(38,167)
Sales and maturities of other invested securities	0	0	24,949	27,917
Other investing activities	7	1	1	7
Net cash used in investing activities	(19,974)	(2,869)	(34,460)	(76,949)
Cash flows from financing activities:
Proceeds from short-term loans	2,738	393	3,787	751
Repayments of short-term loans	(3,166)	(455)	(1,055)	(826)
Proceeds from long-term loans	946	136	1,168	299
Repayments of long-term loans	(168)	(24)	(98)	(3,330)
Loans borrowed from related parties	0	0	3,732	0
Proceeds from issuance of long-term notes, net of issuance costs	(10)	(1)	18,050	9,909
Repayment of long-term notes	(6,912)	(993)	(6,846)	(4,957)
Proceeds from issuance of convertible notes, net of issuance costs	7,910	1,136	5,035	8,463
Purchase of capped calls	(567)	(81)	(465)	0
Proceeds from issuance of subsidiaries' shares	401	57	15,689	4,046
Repurchase of ordinary shares	(4,958)	(712)	(3,312)	(1,723)
Proceeds from exercise of share options	18	3	676	453
Proceeds from third-party investors for sale of financial products	0	0	15,143	101,189
Repayment to third-party investors for sale of financial products	0	0	(33,376)	(82,987)
Proceeds from secured borrowings from third-party financial institutions	0	0	10,380	16,008
Repayment of secured borrowings from third-party financial institutions	0	0	(13,426)	(2,730)
Other financing activities	(105)	(15)	0	(8)
Net cash provided by (used in) financing activities	(3,873)	(556)	15,082	44,557
Effect of exchange rate changes on cash, cash equivalents and restricted cash	1	0	1,902	(316)
Net increase in cash, cash equivalents and restricted cash	4,612	663	18,491	120
Cash, cash equivalents and restricted cash at beginning of the year	29,827	4,284	11,336	11,216
Cash, cash equivalents and restricted cash at end of the year	34,439	4,947	29,827	11,336
Supplemental disclosures:
Interest paid	2,448	352	1,579	1,205
Income taxes paid	4,100	589	5,509	3,300
Non-cash investing and financing activities:
Acquisition of fixed assets included in accounts payable and accrued liabilities	1,020	147	1,516	1,167
Acquisition of licensed copyrights included in accounts payable and accrued liabilities	5,486	788	6,337	4,040
Acquisition of licensed copyrights from nonmonetary content exchanges	968	139	642	782
Non-cash acquisitions of investments	¥ 28	$ 4	¥ 764	¥ 765

Consolidated Statements Of Shareholders' Equity
¥ in Millions, $ in Millions

CNY (¥)

USD ($)

Ordinary Shares

CNY (¥)

Ordinary Shares

USD ($)

Additional Paid-in Capital

CNY (¥)

Additional Paid-in Capital

USD ($)

Retained Earnings

CNY (¥)

Retained Earnings

USD ($)

Accumulated Other Comprehensive Income (Loss)

CNY (¥)

Accumulated Other Comprehensive Income (Loss)

USD ($)

Noncontrolling interests

CNY (¥)

Noncontrolling interests

USD ($)

Balances (in shares) at Dec. 31, 2016 | shares

34,726,805

Balances at Dec. 31, 2016

¥ 92,251

¥ 0

¥ 8,323

¥ 85,734

¥ (1,783)

¥ (23)

Net income

18,288

18,301

(13)

Other comprehensive income

2,713

Issuance of shares by the Company's subsidiaries to noncontrolling interest

4,046

4,004

Acquisition of non-controlling interests in a subsidiary

¥ 0

(5)

Exercise of share-based awards (in shares) | shares

235,210

Exercise of share-based awards

454

¥ 0

454

Share-based compensation

3,264

Accretion of redeemable noncontrolling interests

Repurchase and retirement of ordinary shares

(1,724)

¥ 0

(1,724)

Repurchase and retirement of ordinary shares (in shares) | shares

(145,783)

Disposal of subsidiaries' shares

¥ 0

Balances (in shares) at Dec. 31, 2017 | shares

34,816,232

Balances at Dec. 31, 2017

119,350

¥ 0

12,088

102,328

930

4,004

Net income

22,582

27,573

(4,991)

Other comprehensive income

2,140

1,134

1,006

Business combinations

1,387

1,312

Issuance of shares by the Company's subsidiaries to noncontrolling interest

14,251

¥ 0

14,984

(733)

Exercise of share-based awards (in shares) | shares

325,879

Exercise of share-based awards

689

¥ 0

689

Share-based compensation

4,557

4,340

217

Accretion of redeemable noncontrolling interests

(146)

(130)

(16)

Repurchase and retirement of ordinary shares

(3,312)

¥ 0

(3,312)

Repurchase and retirement of ordinary shares (in shares) | shares

(207,165)

Disposal of subsidiaries' shares

1,558

¥ 0

1,323

235

Conversion of iQIYI preferred shares recognized as redeemable noncontrolling interests to ordinary shares

11,150

Equity component of convertible senior notes, net of issuance costs

362

206

156

Purchase of capped call

(465)

¥ 0

(264)

(201)

Balances (in shares) at Dec. 31, 2018 | shares

34,934,946

Balances at Dec. 31, 2018

175,036

¥ 0

33,441

129,246

210

12,139

Cumulative effect of accounting change

933

2,787

(1,854)

^[1]

Net income

(2,288)

2,057

(4,345)

Other comprehensive income

(1,490)

(1,593)

103

Business combinations

266

Issuance of shares by the Company's subsidiaries to noncontrolling interest

306

(19)

325

Acquisition of non-controlling interests in a subsidiary

(65)

¥ 0

(22)

(43)

Exercise of share-based awards (in shares) | shares

312,463

Exercise of share-based awards

¥ 0

Share-based compensation

5,549

5,045

504

Dividends paid and payable by the Company's subsidiaries

(128)

Accretion of redeemable noncontrolling interests

(111)

$ (15)

(77)

(34)

Repurchase and retirement of ordinary shares

(4,958)

(712)

¥ 0

(4,958)

Repurchase and retirement of ordinary shares (in shares) | shares

(664,534)

Disposal of subsidiaries' shares

(850)

¥ 0

(863)

Equity component of convertible senior notes, net of issuance costs

988

559

429

Purchase of capped call

(567)

¥ 0

(321)

(246)

Balances (in shares) at Dec. 31, 2019 | shares

34,582,875

Balances at Dec. 31, 2019

¥ 171,706

$ 24,663

¥ 0

$ 0

¥ 38,714

$ 5,561

¥ 126,268

$ 18,137

¥ (1,383)

$ (199)

¥ 8,107

$ 1,164

[1]	Adjustment of net unrealized gains related to available-for-sale equity investments from accumulated other comprehensive income to opening retained earnings as a result of the adoption of ASC 321 on January 1, 2018.

Organization, Consolidation and Presentation Of Financial Statements

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation and Presentation Of Financial Statements

1.	ORGANIZATION, CONSOLIDATION AND PRESENTATION OF FINANCIAL STATEMENTS

Baidu, Inc. (“Baidu” or the “Company”) was incorporated under the laws of the Cayman Islands on January 18, 2000. The Company, its subsidiaries, VIEs and subsidiaries of the VIEs are hereinafter collectively referred to as the “Group.”

As of December 31, 2019, the Company has subsidiaries incorporated in countries and jurisdictions including the People’s Republic of China (“PRC”), Hong Kong, Japan, Cayman Islands and British Virgin Islands (“BVI”). As of December 31, 2019, the Company also effectively controls a number of variable interest entities (“VIEs”) through the Primary Beneficiaries, as defined below. The VIEs include:

•	Beijing Baidu Netcom Science Technology Co., Ltd. (“Baidu Netcom”), controlled by the Company;

•	Beijing Perusal Technology Co., Ltd. (“Beijing Perusal”), controlled by the Company;

•	Beijing iQIYI Science & Technology Co., Ltd. (“Beijing iQIYI”), and other VIEs controlled by iQIYI, Inc. (“iQIYI VIEs”); and

•	Other VIEs controlled by the Company or the Company’s subsidiaries .

The Group offers online marketing services, operates

AI-powered

new business initiatives, and operates an online video platform offering membership services of its content library and online marketing services. The Group’s principal geographic market is in the PRC. The Company does not conduct any substantive operations of its own, but conducts its primary business operations through its subsidiaries and VIEs in the PRC.

PRC laws and regulations prohibit or restrict foreign ownership of internet content, advertising, audio and video services, and mobile application distribution businesses, etc. To comply with these foreign ownership restrictions, the Group operates its websites and primarily provides services subject to such restriction in the PRC through the VIEs, the PRC legal entities that were established or whose equity shares were held by the individuals authorized by the Group. The

paid-in

capital of the VIEs was mainly funded by the Company or its subsidiaries through loans extended to the authorized individuals who were the shareholders of the VIEs. The Company or its subsidiaries has entered into proxy agreements or powers of attorney and exclusive equity purchase option agreement with the VIEs and nominee shareholders of the VIEs through the Company or its subsidiaries (“Primary Beneficiaries”), which give the Primary Beneficiaries the power to direct the activities that most significantly affect the economic performance of the VIEs and to acquire the equity interests in the VIEs when permitted by the PRC laws, respectively. Certain exclusive agreements have been entered into with the VIEs through the Primary Beneficiaries or their wholly-owned subsidiaries in the PRC, which obligate the Primary Beneficiaries to absorb losses or receive economic benefits of the VIEs’ that could potentially be significant to the VIEs or entitle the Primary Beneficiaries to receive economic benefits from the VIEs that could potentially be significant to the VIEs. In addition, the Group has entered into certain agreements with the shareholders of the VIEs through the Primary Beneficiaries or their wholly-owned subsidiaries, including loan agreements for the

paid-in

capital of the VIEs and equity pledge agreements for the equity interests in the VIEs held by the shareholders of the VIEs.

Despite the lack of legal majority ownership, there exists a parent-subsidiary relationship between the Primary Beneficiaries and the VIEs through the aforementioned agreements with the shareholders of the VIEs. The shareholders of the VIEs effectively assigned all of their voting rights underlying their equity interest in the VIEs to the Primary Beneficiaries. In addition, through the other exclusive agreements, which consist of operating agreements, technology consulting and services agreements and license agreements, the Primary Beneficiaries, by themselves or their wholly-owned subsidiaries in the PRC, demonstrate their ability and intention to continue to exercise the ability to absorb losses or receive economic benefits that could potentially be significant to the

VIEs. The VIEs are subject to operating risks, which determine the variability of the Company’s interest in those entities. Based on these contractual arrangements, the Company consolidates the VIEs as required by Accounting Standards Codification (“ASC”) Topic 810,

Consolidation

Unrecognized revenue-producing assets held by the VIEs include certain internet content provisions and other licenses, domain names and trademarks. The internet content provisions and other licenses, which are held by the VIEs that provide the relevant services, are required under relevant PRC laws, rules and regulations for the operation of Internet businesses in the PRC, and therefore are integral to the Company’s operations.

The principal terms of the agreements entered into amongst the VIEs, their respective shareholders and the Primary Beneficiaries before the amendments made in March 2018 are further described below.

Loan Agreements

Pursuant to loan agreements amongst the shareholders of Baidu Netcom and Baidu Online Network Technology (Beijing) Co., Ltd. (“Baidu Online”), one of the Company’s subsidiaries, Baidu Online provided interest-free loans in an aggregate amount of RMB13.4 billion (US$1.9

billion) to the shareholders of Baidu Netcom solely for the latter to fund the capitalization of Baidu Netcom. The loans can be repaid only with the proceeds from the sale of the shareholders’ equity interest in Baidu Netcom to Baidu Online or its designated person. The term of the loan agreements will expire on July 9, 2029 and August 19, 2029, and can be extended with the written consent of both parties before its expiration.

Pursuant to loan agreements amongst the shareholders of Baidu Perusal and Baidu Online, the amount of loans extended to the respective shareholders of Beijing Perusal is RMB3.2 billion (US$459 million). The term of the loan agreements will expire on March 30, 2028 and October 29, 2029, and can be extended with the written consent of both parties before its expiration. Each of the loan agreements amongst Baidu Online or other subsidiaries and the respective shareholders of Beijing Perusal or other VIEs, including iQIYI VIEs

contains substantially the same terms as those described above, except that the amount of the loans and the contract expiration date varies.

Exclusive Equity Purchase and Transfer Option Agreement

Pursuant to the exclusive equity purchase and transfer option agreement amongst the shareholders of Baidu Netcom, Baidu Netcom and Baidu Online, the shareholders of Baidu Netcom irrevocably granted Baidu Online or its designated person(s) an exclusive option to purchase, to the extent permitted under PRC law, all or part of the equity interests in Baidu Netcom for the cost of the initial contributions to the registered capital or the minimum amount of consideration permitted by applicable PRC law. The shareholders should remit to Baidu Online any amount that is paid by Baidu Online or its designated person(s) in connection with the purchased equity interest. Baidu Online or its designated person(s) have sole discretion to decide when to exercise the option, whether in part or in full. Any and all dividends and other capital distributions made by Baidu Netcom to its shareholders should be repaid to Baidu Online in full amount. Baidu Online would provide unlimited financial support to Baidu Netcom if, in the normal operation of business, Baidu Netcom would become in need of any form of reasonable financial support. If Baidu Netcom were to incur any loss and as a result cannot repay any loans from Baidu Online, Baidu Online should unconditionally forgive any such loans to Baidu Netcom given that Baidu Netcom provides sufficient proof for its loss and incapacity to repay. The agreement will terminate when the shareholders of Baidu Netcom have transferred all their equity interests in Baidu Netcom to Baidu Online or its designated person(s) or upon expiration of the term of business of Baidu Online or Baidu Netcom.

Each of the

exclusive

equity purchase and transfer option agreements amongst Baidu Online or other subsidiaries, Beijing Perusal and their shareholders, or other VIE and their shareholders contains substantially the

same terms as those described above. Each of the agreements will terminate upon the transfer of all the equity interests held by the shareholders of Beijing Perusal or other VIEs, including iQIYI VIEs, as the case may be, to Baidu Online or its

designated

person(s) or upon expiration of the term of business of Baidu Online, Beijing Perusal or other VIEs, including iQIYI VIEs.

Commitment Letters

Pursuant to the commitment letter dated January 30, 2013, under the condition that Beijing iQIYI remains as a consolidated affiliated entity of iQIYI under United States generally accepted accounting principles (“U.S. GAAP”) and the relevant contractual arrangements remain in effect, iQIYI commits to provide unlimited financial support to Beijing iQIYI, if Beijing iQIYI requires any form of reasonable financial support for its normal business operations. If Beijing iQIYI incurs any losses and as a result cannot repay its loans from iQIYI and Beijing QIYI Century Science & Technology Co., Ltd (“Beijing QIYI Century”), one of iQIYI’s subsidiaries, iQIYI and Beijing QIYI Century would unconditionally forgive their loans to Beijing iQIYI, if Beijing iQIYI provides sufficient proof for its loss and incapacity to repay.

The commitment letters executed by other iQIYI VIEs contain terms similar to the terms described above.

Proxy Agreement/Power of Attorney

Pursuant to the proxy agreement between Baidu Online and the shareholders of Baidu Netcom, the shareholders of Baidu Netcom agreed to entrust all the rights to exercise their voting power and any other rights as shareholders of Baidu Netcom to the person(s) designated by Baidu Online. The shareholders of Baidu Netcom have each executed an irrevocable power of attorney to appoint the person(s) designated by Baidu Online as their

attorney-in-fact

to vote on their behalf on all matters requiring shareholder approval. The proxy agreement would be in effect for an unlimited term unless terminated in writing by Baidu Online. The power of attorney would be in effect for as long as the shareholders of Baidu Netcom hold any equity interests in Baidu Netcom.

Each of the proxy agreements or shareholder voting rights trust agreements amongst Baidu Online or other subsidiaries and the shareholders of Beijing Perusal and other VIEs contains substantially the same terms as those described above. Each of the proxy agreements will be in effect for an unlimited term unless terminated in writing by Baidu Online or other subsidiaries

. Each of the powers of attorney will be in effect for as long as the shareholder of Beijing Perusal or other VIEs

including iQIYI VIEs

holds any equity interests in Beijing Perusal or other VIEs

including iQIYI VIEs

, as the case may be.

Operating Agreement

Pursuant to the operating agreement amongst Baidu Online, Baidu Netcom and the shareholders of Baidu Netcom, Baidu Online provides guidance and instructions on Baidu Netcom’s daily operations and financial affairs. Baidu Online has the power to appoint senior executives of Baidu Netcom. The shareholders of Baidu Netcom must appoint the candidates recommended by Baidu Online as their representatives on Baidu Netcom’s board of directors. In addition, Baidu Online agrees to guarantee Baidu Netcom’s performance under any agreements or arrangements relating to Baidu Netcom’s business arrangements with any third party. In return, Baidu Netcom agrees that without the prior consent of Baidu Online, Baidu Netcom will not engage in any transactions that could materially affect the assets, liabilities, rights or operations of Baidu Netcom, including, without limitation, incurrence or assumption of any indebtedness, sale or purchase of any assets or rights, incurrence of any encumbrance on any of its assets or intellectual property rights in favor of a third party or transfer of any agreements

relating

to its business operation to any third party. The agreement will be in effect for an unlimited term, until the term of business of Baidu Online or Baidu Netcom expires and extension is denied by the relevant approval authorities.

Each of the operating agreements amongst Baidu Online or other subsidiaries, Beijing Perusal and their shareholders or other VIEs including iQIYI VIEs and their shareholders contains substantially the same terms as those described above. Each of the agreements will be in effect for an unlimited term, until the term of business of Baidu Online, Beijing Perusal or other VIEs

including iQIYI VIEs

expires and extension is denied by the relevant approval authorities.

Exclusive Technology Consulting and Services Agreement

Pursuant to the exclusive technology consulting and services agreement between Baidu Online and Baidu Netcom, Baidu Online has the exclusive right to provide technology consulting and services related to, among other things, the maintenance of servers, software development, design of advertisements, and

e-commerce

technical services to Baidu Netcom. Baidu Online owns the intellectual property rights resulting from the performance of this agreement. Baidu Netcom agrees to pay service fees to Baidu Online and Baidu Online has

the right to adjust the service fees at its sole discretion without the consent of

Baidu

Netcom

. The agreement will be in effect for an unlimited term, until the term of business of one party expires and extension is denied by the relevant approval authorities.

Each of the exclusive technology consulting and services agreements between Baidu Online or other subsidiaries and Beijing Perusal or other VIEs, including iQIYI VIEs, contains substantially the same terms as those described above, except the basis of determining the service fees may differ.

License Agreements

Baidu Online and Baidu Netcom entered into a software license agreement and a web layout copyright license agreement (collectively, the “License Agreements”). Pursuant to the License Agreements between Baidu Online and Baidu Netcom, Baidu Online has granted to Baidu Netcom the right to use (including but not limited to) a software license and a web layout copyright license. Baidu Netcom may only use the licenses in its own business operations. Baidu Online has the right to adjust the service fees at its sole discretion. The software license agreement and web layout copyright license agreement were renewed since their original expiration and would be in effect for an unlimited term, until the term of business of one party expires and extension is denied by the relevant approval authorities.

Baidu Online entered into web layout copyright license agreements with Beijing Perusal. Each of the license agreements between the Baidu Online and Beijing Perusal or other VIEs contains substantially the same terms as those described above. Each of the web layout copyright license agreements was renewed in 2013 and would be in effect for an unlimited term, until the term of business of one party expires and extension is denied by the relevant approval authorities.

Pursuant to the trademark license agreement and the software usage license agreement amongst Beijing QIYI Century and Beijing iQIYI effective November 23, 2011, Beijing QIYI Century granted a non-exclusive and non-transferable license, without sublicensing rights, to Beijing iQIYI to use its trademarks and software. Beijing iQIYI may only use the licenses in its own business operations. Beijing QIYI Century has the right to adjust the service fees at its sole discretion. The initial term of the two agreements is five years and the software usage license agreement may be extended upon the written consent of Beijing QIYI Century. The trademark license agreement is automatically extended for successive one-year periods after its expiration unless Beijing QIYI Century early terminates the agreement in accordance with the provisions of the agreement. The software usage license agreement was extended for another five years after its initial term.

Business Cooperation Agreement

Pursuant to the business cooperation agreement amongst Beijing QIYI Century and Beijing iQIYI effective November 23, 2011, Beijing iQIYI agrees to provide Beijing QIYI Century with services, including internet information services, online advertising and other services reasonably necessary within the scope of Beijing QIYI Century’s business. Beijing iQIYI agrees to use, technology services provided by Beijing QIYI Century on its website, including but not limited to, P2P download and video on-demand systems. Beijing QIYI Century agrees to pay specified service fees to Beijing iQIYI as consideration for the internet information services and other services provided by Beijing iQIYI. Beijing iQIYI has the right to waive the service fees at its discretion. The term of this agreement is

ten

years and can be renewed at Beijing QIYI Century’s discretion.

Equity Pledge Agreement

Pursuant to the equity pledge agreement between Baidu Online and the shareholders of Baidu Netcom, the shareholders of Baidu Netcom pledged all of their equity interests in Baidu Netcom to Baidu Online to guarantee their obligations under the loan agreement and Baidu Netcom’s performance of its obligations under the exclusive technology consulting and services agreement. If Baidu Netcom or its shareholders breach their respective contractual obligations, Baidu Online, as the pledgee, will be entitled to certain rights, including the right to sell the pledged equity interests. The shareholders of Baidu Netcom agreed not to dispose of the pledged equity interests or take any actions that would prejudice Baidu Online’s interest. The equity pledge agreement will expire two years after expiration of the term or the fulfillment by Baidu Netcom and its shareholders of their respective obligations under the exclusive technology consulting and services agreement and the loan agreement.

Each of the equity pledge agreements amongst Baidu Online or other subsidiaries and the shareholders of Beijing Perusal or other VIEs

including iQIYI VIEs

contains substantially the same terms, including its term to expiration, as those described above.

Through the design of the aforementioned agreements, the shareholders of the VIEs effectively assigned their full voting rights to Baidu Online, which gives Baidu Online the power to direct the activities that most significantly impact the VIEs’ economic performance. Baidu Online obtains the ability to approve decisions made by the VIEs and the ability to acquire the equity interests in the VIEs when permitted by PRC law. Baidu Online is obligated to absorb losses or receive economic benefits of the VIEs that could potentially be significant to the VIEs through providing unlimited financial support to the VIEs or is entitled to receive economic benefits from the VIEs that could potentially be significant to the VIEs through the exclusive technology consulting and service fees. As a result of these contractual agreements, Baidu Online is determined to be the primary beneficiary of the VIEs. Despite the lack of technical majority ownership, there exists a parent-subsidiary relationship between the Company and the VIEs through these contractual agreements, and the Company consolidates the VIEs through Baidu Online.

Through the Contractual Arrangements, the shareholders of the VIEs effectively assigned all of their voting rights underlying their equity interest in iQIYI VIEs to iQIYI. In addition, through the other exclusive agreements, which consist of the operation agreements, business cooperating agreement, exclusive technology consulting and

services

agreements and trademark and software usage license agreements, iQIYI, through its wholly-owned subsidiaries in the PRC, have the right to receive economic benefits from iQIYI VIEs that potentially could be significant to iQIYI VIEs. Lastly, through the commitment letters, iQIYI has the obligation to absorb losses of iQIYI VIEs that could potentially be significant to iQIYI VIEs. Therefore, iQIYI is considered the primary beneficiary of iQIYI VIEs and consolidates iQIYI VIEs and their subsidiaries.

In March 2018, the contractual agreements for certain VIEs, including Baidu Netcom and Beijing Perusal, were amended to include the following terms:

a.	Exclusive equity purchase and transfer option agreement

The Company has (i) an exclusive option to purchase, when and to the extent permitted under PRC laws, all or part of the equity interests in the VIE or all or part of the assets held by the VIE, (ii) an exclusive right to cause the nominee shareholders to transfer their equity interest in the VIE to the Company or any designated person and (iii) an obligation to provide unlimited financial support to the VIEs when the VIEs become in need of any form of reasonable financial support in the normal operation of business. If the VIEs were to incur any loss and as a result cannot repay any loans from the Company, the Company will unconditionally forgive any such loans to the VIEs upon provision by the VIEs of sufficient proof for its loss and incapacity to repay.

b.	Proxy Agreements/Power of Attorney

The appointment of any individuals to exercise the powers and rights assigned pursuant to the Proxy Agreement requires the approval of the Company. All the activities in relation to such powers and rights assigned are directed and approved by the Company. The shareholders of the VIEs agreed to entrust all the rights to exercise their voting power and any other rights as shareholders of the VIEs to the person(s) designated by the Company. The shareholders of the VIEs have each executed an irrevocable power of attorney to appoint the person(s) designated by the Company as their

attorney-in-fact

to vote on their behalf on all matters requiring shareholder approval.

As a result, the power and the rights pursuant to the Proxy Agreements have since been effectively reassigned from Baidu Online to the Company which has the power to direct the activities of the VIEs that most significantly impact the VIEs’ economic performance. The Company or its subsidiaries is also obligated to absorb the

expected

losses or receive economic benefits of the VIE through the agreements mentioned above. Therefore, the Company has replaced Baidu Online as the Primary Beneficiary of Baidu Netcom and Beijing Perusal since March 2018. As the VIEs were subject to indirect control by the Company through its subsidiaries immediately before and direct control immediately after the contractual agreements were amended, the change of the primary beneficiary of the VIEs was accounted for as a common control transaction based on the carrying amount of the net assets transferred.

In the opinion of the Company’s legal counsel, (i) the ownership structure relating to the VIEs of the Company is in compliance with existing PRC laws and regulations; (ii) the contractual arrangements with the VIEs and their shareholders are valid, binding and enforceable, and will not result in any violation of PRC laws or regulations currently in effect; and (iii) the performance of the VIEs and their shareholders is in compliance with the articles of association and business licenses of the VIEs.

However, uncertainties in the PRC legal system could cause the Company’s current ownership structure to be found in violation of any existing and/or future PRC laws or regulations and could limit the Company’s ability, through the Primary Beneficiaries, to enforce its rights under these contractual arrangements. Furthermore, shareholders of the VIEs may have interests that are different with those of the Company, which could potentially increase the risk that they would seek to breach the existing terms of the aforementioned agreements.

In addition, if the current structure or any of the contractual arrangements were found to be in violation of any existing or future PRC laws, the Company may be subject to penalties, which may include but not be limited to, the cancellation or revocation of the Company’s business and operating licenses, being required to restructure the Company’s operations or discontinue the Company’s operating activities. The imposition of any of these or other penalties may result in a material and adverse effect on the Company’s ability to conduct its operations. In such case, the Company may not be able to operate or control the VIEs, which may result in deconsolidation of the VIEs.

The following tables set forth the financial statement balances and amounts of the VIEs and their subsidiaries were included in the consolidated financial statements after the elimination of intercompany balances and transactions among VIEs and their subsidiaries within the Group.


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Assets
Cash and cash equivalents		1,895		2,313		332
Short-term investments		2,912		1,892		272
Accounts receivable, net		3,750		5,023		722
Others		4,275		5,759		827

Total current assets		12,832		14,987		2,153

Fixed assets, net		4,183		3,839		551
Intangible assets, net		4,032		3,076		442
Long-term investments, net		18,923		21,825		3,135
Operating lease right-of-use assets		—		6,525		937
Others		12,639		12,325		1,770

Total non-current assets		39,777		47,590		6,835

Total		52,609		62,577		8,988

Liabilities
Accounts payable and accrued liabilities		13,889		15,774		2,266
Customer deposits and deferred revenue		3,704		4,841		695
Operating l ease liabilities		—		2,110		303
Others		1,219		1,967		283

Total current third-party liabilities		18,812		24,692		3,547
Operating l ease liabilities		—		4,227		607
Others		2,417		2,068		297
Total non-current third-party liabilities		2,417		6,295		904
Amounts due to the Company and its non-VIE subsidiaries, net		22,398		17,121		2,459

Total		43,627		48,108		6,910

Certain

figures

included in “Third-party liabilities” and “Inter-company liabilities” have been reclassified to “Amounts due to the Company and its non-VIE subsidiaries” in the table above to conform to the current year presentation.


	For the years ended December 31,
	2017			2018			2019			2019
	RMB			RMB			RMB			US$
	(In millions)
Total revenues		29,208			33,992			51,988			7,468
Net loss		(626	)		(6,834	)		(2,950	)		(424	)
Net cash provided by operating activities		3,698			2,396			1,649			237
Net cash used in by investing activities		(5,725	)		(16,674	)		(4,829	)		(694	)
Net cash provided by financing activities		2,985			11,916			3,604			518

As of December 31, 2019, there w

ere

no pledge or collateralization of the VIEs’ assets that can only be used to settle obligations of the VIEs, other than aforementioned in the equity pledge agreements and collateralization of a VIE’s office building or restricted cash as described in Note 10. The amount of the net assets of the VIEs was RMB

14.5

billion (US$

2.1

billion) as of December

2019

. The creditors of the VIEs’ third-party liabilities did

not

have recourse to the general credit of the Company in normal course of business. The Company did not provide or intend to provide financial or other supports not previously contractually required to the VIEs during the years presented.

Basis of Presentation

The consolidated financial statements are prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”).

Principles of Consolidation

The consolidated financial statements include the financial statements of the Company, its subsidiaries, VIEs and subsidiaries of the VIEs. All inter-company transactions and balances between the Company, its subsidiaries, VIEs and subsidiaries of the VIEs are eliminated upon consolidation. The Company included the results of operations of acquired businesses from the respective dates of acquisition.

Use of Estimates

The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Management evaluates estimates, including those related to the standalone selling prices of performance obligations and amounts of variable considerations of revenue contracts, accounts receivable and contract assets allowances, credit loss allowance for micro loan receivables, fair values of certain debt and equity investments, fair values of retained interests related to disposed entities, amortization and useful lives of licensed copyrights and produced content, ultimate revenue of produced content, fair value of nonmonetary content exchanges, impairment of long-lived assets, long-term investments and goodwill, the purchase price allocation and fair value of noncontrolling interests and redeemable noncontrolling interests with respect to business combinations, deferred tax valuation allowance and the valuation and recognition of share-based compensation arrangements, among others. Management bases the estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of

which

form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates.

Currency Translation for Financial Statements Presentation

Translations of amounts from RMB into US dollar $ (USD) for the convenience of the reader

have

been calculated at the exchange rate

RMB6.9618 per US$

1.00

on December 31, 2019

, the last business day in fiscal year 2019

, as published on the website of the United States Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into U.S. dollars at such rate.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Foreign Currency

The Company’s functional currency is the US$. The Company’s subsidiaries, VIEs and subsidiaries of the VIEs determine their functional currencies based on the criteria of ASC Topic 830,

Foreign Currency Matters

. The

Company uses the RMB as its reporting currency. The Company uses the exchange rate as of the balance sheet date to translate its assets and liabilities and the average daily exchange rate for each month to translate its income and expense items to reporting currency. Any translation gains (losses) are recorded in other comprehensive income (loss). Transactions denominated in foreign currencies are measured and recorded into the functional currency at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in foreign currencies other than functional currency are remeasured into the functional currency at the exchange rates prevailing at the balance sheet date. Exchange gains and losses are included in earnings as a component of “Other income (loss), net.”

Segment Reporting

As of December 31, 2018 and 2019, the Company had two reportable segments,

Baidu Core and iQIYI. Baidu Core mainly provides search-based, feed-based and other online marketing services, as well as products and services from our new AI initiatives. Search Services and Transaction Services were combined into Baidu Core beginning April 2017, to reflect the Company’s strategic and operational change to

de-emphasize

its transaction services business and shift more resources to support its online marketing and other services. iQIYI is an online entertainment service provider that offers original, professionally produced and partner-generated content on its platform. In early April 2018, iQIYI completed its initial public offering (“IPO”) on the Nasdaq Global Market.

The Company’s chief executive officer, who has been identified as the chief operating decision marker (“CODM”), reviews the operating results of Baidu Core and iQIYI, to allocate resources and assess the Company’s performance. Accordingly, the financial statements include segment information which reflects the current composition of the reportable segments in accordance with ASC Topic 280,

Segment Reporting.

Business Combinations

The Company accounts for its business combinations using the purchase method of accounting in accordance with ASC Topic 805,

Business Combinations

. The purchase method of accounting requires that the consideration transferred to be allocated to the assets, including separately identifiable assets and liabilities the Company acquired, based on their estimated fair values. The consideration transferred in an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred, and equity instruments issued as well as the contingent considerations as of the acquisition date. The costs directly attributable to the acquisition are expensed as incurred. Identifiable assets, liabilities and contingent liabilities acquired or assumed are measured separately at their fair value as of the acquisition date, irrespective of the extent of any noncontrolling interests. The excess of (i) the total of cost of acquisition, fair value of the noncontrolling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree, is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in earnings.

In a business combination achieved in stages, the Company remeasures its previously held equity interest in the acquiree immediately before obtaining control at its acquisition-date fair value and the

re-measurement

gain or loss, if any, is recognized in earnings.

The determination and allocation of fair values to the identifiable assets acquired, liabilities assumed and noncontrolling interests is based on various assumptions and valuation methodologies requiring considerable judgment from management. The most significant variables in these valuations are discount rates, terminal values, the number of years on which to base the cash flow projections, as well as the assumptions and estimates used to determine the cash inflows and outflows. The Company determines discount rates to be used based on the

risk inherent in the related activity’s current business model and industry comparisons. Terminal values are based on the expected life of assets, and forecasted cash flows over that period.

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents

Cash and cash equivalents primarily consist of cash, money market funds, investments in interest bearing demand deposit accounts, time deposits and highly liquid investments with original maturities of three months or less from the date of purchase and are stated at cost which approximates their fair value.

Restricted cash

Restricted cash mainly consists of the cash reserved in escrow accounts at certain banks as online payment service deposits and cash pledged for bank loan facility.

In November 2016, the FASB issued Accounting Standards Update No.

2016-18,

Statement of Cash Flows

(Topic 230): Restricted Cash, which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling

beginning-of-period

and

end-of-period

total amounts presented in the statement of cash flows.

The Company adopted the new standard effective January 1, 2018, using the retrospective transition method. All restricted cash was presented on the face of consolidated balance sheet as “Restricted cash”.

Accounts Receivable, net of allowance

Accounts receivable are recognized and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Receivable balances are written off when they are deemed uncollectible. The Company generally does not require collateral from its customers.

The Company maintains allowances for doubtful accounts for estimated losses resulting from the failure of customers to make payments on time. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, the customer’s payment history, the customer’s current credit-worthiness and current economic trends.

Receivables from Online Payment Agencies, net of allowance

Receivables from online payment agencies are funds due from the third-party online payment service providers for clearing transactions. Funds were paid or deposited by customers or users through these online payment agencies for services provided by the Company. The Company carefully considers and monitors the credit worthiness of the third-party payment service providers used. An allowance for doubtful accounts is recorded in the period in which a loss is determined to be probable. Receivable balances are written off when they are deemed uncollectible. The balances are included in “Other current assets, net” on the consolidated balance sheets. As of December 31, 2018 and 2019, no allowance for doubtful accounts was provided for the receivables from online payment agencies.

Investments

Short-term investments

All highly liquid investments with original maturities of greater than

three months

, but less than

twelve months

, are classified as short-term investments. Investments that are expected to be realized in cash during the next twelve months are also included in short-term investments.

The Company accounts for short-term debt investments in accordance with ASC Topic 320,

Investments—Debt Securitie

s (“ASC 320”)

The Company classifies the short-term investments in debt as

“held-to-maturity,”

“trading” or

“available-for-sale,”

whose classification determines the respective accounting methods stipulated by ASC 320. Dividend and interest income, including amortization of the premium and discount arising at acquisition, for all categories of investments in securities are included in earnings. Any realized gains or losses on the sale of the short-term investments are determined on a specific identification method, and such gains and losses are reflected in earnings during the period in which gains or losses are realized.

Securities that the Company has positive intent and ability to hold to maturity are classified as

held-to-maturity

securities and stated at amortized cost. For individual securities classified as

held-to-maturity

securities, the Company evaluates whether a decline in fair value below the amortized cost basis is other-than-temporary, in accordance with ASC 320. Other-than-temporary impairment loss is recognized in earnings equal to the entire excess of the debt security’s amortized cost basis over its fair value at the balance sheet date of the reporting period for which the assessment is made.

Securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities, in accordance with ASC 320. Unrealized holding gains and losses for trading securities are included in earnings.

Debt investments not classified as trading or as

held-to-

maturity

are classified as

available-for-sale

debt securities, which are reported at fair value, with unrealized gains and losses recorded in “Accumulated other comprehensive income (loss)” . An impairment loss on the

available-for-sale

debt securities is recognized in earnings when the decline in value is determined to be other-than-temporary.

Long-term investments

The Company’s long-term investments consist of equity investments with readily determinable fair value, equity method investments, held-to-maturity debt investments,

available-for-sale

debt investments, equity investments without readily determinable fair value, and other investments accounted for at fair value.

The Company adopted ASC Topic 321,

Investments–Equity Securities

(“ASC 321”) from January 1, 2018 and the cumulative effect of RMB

1.9

billion representing the unrealized gains of

available-for-sale

equity securities before the adoption was recorded as an adjustment to the opening retained

earning

s. Pursuant to ASC 321, equity investments, except for those accounted for under the equity method, those that result in consolidation of the investee and certain other investments, are measured at fair value, and any changes in fair value are recognized in earnings. For equity securities without readily determinable fair value and do not qualify for the existing practical expedient in ASC Topic 820,

Fair Value Measurements and Disclosures

(“ASC 820”) to estimate fair value using the net asset value per share (or its equivalent) of the investment, the Company elected to use the measurement alternative to measure those investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same

issuer, if any. Significant judgments are required to determine whether (i) observable price changes in orderly transactions are for instruments that are considered similar, and (ii) appropriate valuation methodologies and underlying assumptions, including expected volatility and the probability of exit events as it relates to liquidation and redemption features used to measure the price adjustments for the difference in rights and obligations between instruments. Equity securities with readily determinable fair values are measured at fair value, and any changes in fair value are recognized in earnings.

For equity investments measured at fair value with changes in fair value recorded in earnings, the Company does not assess whether those securities are impaired. For equity investments that the Company elects to use the measurement alternative, the Company makes a qualitative assessment of whether the investment is impaired at each reporting date. If a qualitative assessment indicates that the investment is impaired, the entity has to estimate the investment’s fair value in accordance with the principles of ASC 820. If the fair value is less than the investment’s carrying value, the Company recognizes an impairment loss in net income equal to the difference between the carrying value and fair value.

Investments that the Company has positive intent and ability to hold to maturity are classified as held-to-maturity investments and stated at amortized cost. For individual securities classified as held-to-maturity investments, the Company evaluates whether a decline in fair value below the amortized cost basis is other-than-temporary, in accordance with ASC 320. Other-than-temporary impairment loss is recognized in earnings equal to the entire excess of the debt investment’s amortized cost basis over its fair value at the balance sheet date of the reporting period for which the assessment is made.

Available-for-sale

debt investments are convertible debt instruments issued by private companies and investment in preferred shares that

redeemable at the Company’s option, which are measured at fair value. Interest income

recognized in earnings. All other changes in the carrying amount of these debt investments are recognized in other comprehensive income. An impairment loss on the available-for-sale debt investments, if any, is recognized

earnings

when the decline in value is determined to be other-than-temporary.

Investments in entities in which the Company can exercise significant influence but does not own a majority equity interest or control are accounted for using the equity method of accounting in accordance with ASC Topic 323,

Investments-Equity Method and Joint Ventures

(“ASC 323”). Under the equity method, the Company initially records its investment at cost and the difference between the cost of the equity investee and the amount of the underlying equity in the net assets of the equity investee is accounted for as if the investee were a consolidated subsidiary. The Company subsequently adjusts the carrying amount of its investment to recognize the Company’s proportionate share of each equity investee’s net income or loss into earnings. The Company will discontinue applying the equity method if an investment (plus additional financial support provided to the investee, if any) has been reduced to zero. When the Company has other investments in its equity-method investee and is not required to advance additional funds to that investee, the Company would continue to report its share of equity method losses in its statement of comprehensive income after its equity-method investment in ordinary shares has been reduced to zero, to the extent of and as an adjustment to the adjusted basis of the Company’s other investments in the investee. Such losses are first applied to those investments of a lower liquidation preference before being further applied to the investments of a higher liquidation preference. The Company adopted a

one-quarter

lag in reporting for its share of equity income/(loss) in all of its equity method investees.

The Company evaluates the equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. Factors considered by the Company when determining whether an investment has been other-than-temporarily-impaired, includes,

but not limited to, the length of the time and the extent to which the market value has been less than cost, the financial performance and near-term prospect of the investee, and the Company’s intent and ability to retain the investment until the recovery of its cost. An impairment loss on the equity method investments is recognized in earnings when the decline in value is determined to be other-than-temporary and is allocated to the individual net assets underlying equity method investments in the following order: 1) reduce any equity method goodwill to zero; 2) reduce the individual basis differences related to the investee’s long-lived assets pro rata based on their amounts relative to the overall basis difference at the impairment date and 3) reduce the individual basis difference of the investee’s remaining assets in a systematic and rational manner.

In accordance with ASC

946-320

Financial Services—Investment Companies, Investments—Debt and Equity Securities,

the Company accounts for long-term equity investments in unlisted companies held by consolidated investment companies at fair value. These investments were initially recorded at their transaction price net of transaction costs, if any. Fair value of these investments are

re-measured

periodically in accordance with ASC 820.

Fair Value Measurements of Financial Instruments

Financial instruments are in the form of cash and cash equivalents, restricted cash, short-term investments, accounts receivable, amounts due from and due to related parties, other receivables, long-term investments, short-term loans, accounts payable and accrued liabilities, customer advances and deposits, derivative instruments, notes payable, convertible senior notes and long-term loans. The carrying values of the aforementioned financial instruments included in current assets and liabilities approximate their respective fair values because of their general short maturities. The carrying amounts of long-term loans approximate fair values as the related interest rates currently offered by financial institutions for similar debt instruments of comparable maturities. The fair value of long-term investments

that

are not reported at fair value are disclosed in Note 23.

Fixed Assets

Fixed assets are stated at cost less accumulated depreciation. Depreciation is recorded on a straight-line basis over the shorter of the estimated useful lives of the assets or the term of the related lease, as follows:


Office building		– 43 to 45 years
Office building related facility, machinery and equipment		– 15 years
Computer equipment		– 3 to 5 years
Office equipment		– 3 to 5 years
Vehicles		– 5 years
Leasehold improvements		– over the shorter of lease terms or estimated useful lives of the assets

Fixed assets have no estimated residual value except for the office building and its related facility, machinery and equipment, which have an estimated residual value of 4% of the cost.

Repair and maintenance costs are charged to expense as incurred, whereas the cost of renewals and betterments that extend the useful life of fixed assets are capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the asset and accumulated depreciation accounts with any resulting gain or loss reflected in earnings. All direct and indirect costs that are related to the construction of fixed assets and incurred before the assets are ready for their intended

use are capitalized as construction in progress. Construction in progress is transferred to specific fixed assets items and depreciation of these assets commences when they are ready for their intended use.

Interest costs are capitalized if they are incurred during the acquisition, construction or production of a qualifying asset and such costs could have been avoided if expenditures for the assets have not been made. Capitalization of interest costs commences when the activities to prepare the asset are in progress and expenditures and borrowing costs are being incurred. Interest costs are capitalized until the assets are ready for their intended use. Interest costs capitalized for the years ended December 31, 2017, 2018 and 2019 were insignificant.

Licensed Copyrights

, net

Licensed copyrights consist of professionally-produced content such as films, television series, variety shows and other video content acquired from external parties. The license fees are capitalized and, unless prepaid, a

corresponding

liability is recorded when the cost of the content is known, the content is accepted by the Company in accordance with the conditions of the license agreement and the content is available for its first showing on the Company’s websites. Licensed copyrights are carried at the lower of unamortized cost or net realizable value. Licensed copyrights are presented on the balance sheet as current and non-

current

, based on estimated time of usage.

The Company has two types of licensed copyrights, i) non-exclusive licensed copyrights and ii)

exclusive

licensed copyrights. For non-exclusive licensed copyrights, the Company has the right to broadcast the contents on its own websites. For exclusive licensed copyrights, in addition to the broadcasting right, the Company also has the right to sublicense the underlying contents to external parties.

Non-exclusive licensed copyrights are amortized using an accelerated or a straight-line method based on historical and estimated viewership consumption patterns over its economic useful lives. Estimates of future viewership consumption patterns and economic useful lives for licensed copyrights are reviewed periodically, at least on an annual basis and revised, if necessary. Revisions to the amortization pattern are accounted for as a change in accounting estimate prospectively in accordance with ASC topic 250 (“ASC 250”),

Accounting Changes and Error Corrections

The purchase cost of exclusive licensed copyrights includes a broadcasting right and a right to sublicense the content to external parties, and the Company allocates the content cost to these two rights when the exclusive licensed

copyrights

are initially recognized based on the relative proportion of the Company’s estimate of the total revenues that will be generated by each right over its economic useful lives. For the broadcasting right, which is the portion of an exclusive licensed copyright that generates direct and indirect online advertising and membership services revenues, the content costs are amortized in accordance with ASC subtopic 920-350 (“ASC 920-350”),

Entertainment-Broadcasters: Intangibles—Goodwill and Other

, using the same method as non-exclusive licensed copyrights as described above. For the right to sublicense the content to external parties, which is the portion of an exclusive licensed copyright that generates direct content distribution revenues, the content costs are amortized based on its estimated usage pattern. The Company reviews the forecasted total direct content distribution revenues on a periodic basis and any changes in estimates will result in the Company applying a revised fraction to the net carrying amount of the right to sublicense as of the beginning of the fiscal year.

On a periodic basis, the Company evaluates the program usefulness of the broadcasting rights of its licensed copyrights and records these rights at the lower of unamortized cost or estimated net realizable value pursuant to the guidance in ASC 920-350. When there is a change in the expected usage of licensed copyrights, the Company estimates net realizable value of licensed copyrights to determine if any impairment exists.

Net realizable value is determined by estimating the expected cash flows generated from provision of online advertising and membership services, less any direct costs, over the remaining useful lives of the licensed copyrights. The Group estimates online advertising and membership services cash flows for each category of content separately. Estimates that impact advertising and membership services cash flows include anticipated levels of demand for the Group’s advertising and membership services and the expected selling prices of such services. For the right to sublicense to external parties, recoverability is assessed in accordance with ASC 926-20. The Company recognized impairment charges on licensed copyrights of RMB390 million, RMB181 million and nil for the years ended December 31, 2017, 2018 and 2019, respectively.

Goodwill and Intangible Assets

Goodwill

The Company assesses goodwill for impairment in accordance with ASC Subtopic

350-20,

Intangibles—Goodwill and Other: Goodwill

(“ASC

350-20”),

which requires that goodwill to be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events, as defined by ASC

350-20.

As of December 31, 2018 and 2019, the Company has two reporting units, consisting of Baidu Core and iQIYI.

The Company has the option to assess qualitative factors first to determine whether it is necessary to perform the

two-step

test in accordance with ASC

350-20.

If the Company believes, as a result of the qualitative assessment, that it is

more-likely-than-not

that the fair value of the reporting unit is less than its carrying amount, the

two-step

quantitative impairment test described above is required. Otherwise, no further testing is required. In the qualitative assessment, the Company considers primary factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations. In performing the

two-step

quantitative impairment test, the first step compares the carrying amount of the reporting unit to the fair value of the reporting unit based on either quoted market prices of the ordinary shares or estimated fair value using the market approach. If the fair value of the reporting unit exceeds the carrying value of the reporting unit, goodwill is not impaired and the Company is not required to perform further testing. If the carrying value of the reporting unit exceeds the fair value of the reporting unit, then the Company must perform the second step of the impairment test in order to determine the implied fair value of the reporting unit’s goodwill. The fair value of the reporting unit is allocated to its assets and liabilities in a manner similar to a purchase price allocation in order to determine the implied fair value of the reporting unit goodwill. If the carrying amount of the goodwill is greater than its implied fair value, the excess is recognized as an impairment loss.

The Company performed qualitative assessments for the reporting unit of Baidu Core in 2018 and 2019. Based on the requirements of ASC

350-20,

the Company evaluated all relevant factors including, but not limited to, macroeconomic conditions, industry and market conditions, financial performance, and the share price of the Company. The Company weighed all factors in their entirety and concluded that it was not

more-likely-than-not

the fair value was less than the carrying amount of Baidu Core, and further impairment testing on goodwill was unnecessary as of December 31, 2018 and 2019.

The Company elected to assess goodwill for impairment using the

two-step

process for the reporting unit of iQIYI. Subsequent to iQIYI’s IPO, the Company primarily considered the quoted market price of iQIYI’s share to determine the fair value of the reporting unit. As of December 31, 2018 and 2019, the fair value of iQIYI exceeded its carrying amount

therefore, goodwill related to the iQIYI reporting unit was not impaired and the Company was not required to perform further testing.

On disposal of a portion of reporting unit that constitutes a business, the attributable amount of goodwill is included in the determination of the amount of profit or loss on disposal. When the Group disposes of a business

within the reporting unit, the amount of goodwill disposed is measured on the basis of the relative fair value of the business disposed and the portion of the reporting unit retained. This relative fair value approach is not used when the business to be disposed was not integrated into the reporting unit after its acquisition, in which case the current carrying amount of the acquired goodwill should be included in the carrying amount of the business to be disposed.

Intangible assets

Intangible assets with finite lives are carried at cost less accumulated amortization. All intangible assets with finite lives are amortized using the straight-line method over the estimated useful lives, except for the sublicensing rights and certain licensed copyrights.

Intangible assets have weighted average useful lives from the date of purchase as follows:


Customer relationships		– 5 years
Software		– 5 years
Trademarks		– 10 years
User list		– 5 years
Licensed copyrights of video contents		– 3 years
Others		– 6 years

Intangible assets with indefinite useful life are not amortized and are tested for impairment annually or more frequently, if events or changes in circumstances indicate that they might be impaired in accordance with ASC Subtopic

350-30,

Intangibles-Goodwill and Other: General Intangibles Other than Goodwill

(“ASC

350-30”).

Upon the initial application of ASC 842 on January 1, 2019, land use rights were presented as operating lease right-of-use assets (“ROU assets”). Such amount was included in the opening balance of operating lease ROU assets as of January 1, 2019 with no adjustments made to the comparative periods.

Produced Content, net

The Company produces original content in-house and collaborates with external parties. The cost incurred in the physical production of original content includes direct production costs, production overhead and acquisition costs and is reported separately as “Produced content” on the consolidated balance sheet. Produced content also includes cash expenditures made to acquire a proportionate share of certain rights to films including profit sharing, distribution and/or other rights. Production costs exceeding the estimated total revenues to be earned (“ultimate revenue”) are expensed as cost of revenues. Ultimate revenue estimates include contracted revenue, if any, and revenue expected to be earned not exceeding ten years from the date of initial release from all sources, including exhibition, licensing, or exploitation of produced content if the Company has demonstrated a history of earning such revenue. The Company estimates ultimate revenue to be earned during the economic useful lives of produced content based on anticipated release patterns and historical results of similar produced content, which are identified based on various factors, including cast and crew, target audience and popularity. The Company amortizes produced content using an accelerated method based on historical and estimated usage patterns of its produced contents. Significant management judgement is required to estimate the growth rates for the Company’s membership services and online advertising revenue, which could significantly impact estimated ultimate revenue and usage patterns of produced content. These estimates are periodically reviewed and adjusted, if appropriate. The difference between

expenses

determined using the new estimates and any amounts previously expensed during the fiscal year is recognized in the period of revision.

The Company reviews unamortized produced content costs for impairment whenever events or circumstances indicate that the fair value of the produced content may be less than its unamortized cost.

Impairment of Long-Lived Assets Other Than Goodwill

The Company evaluates long-lived assets, such as fixed assets and purchased or internally developed intangible assets with finite lives other than licensed copyrights and produced contents, for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable in accordance with ASC Topic 360,

Property, Plant and Equipment

. When such events occur, the Company assesses the recoverability of the asset group based on the undiscounted future cash flows the asset group is expected to generate and recognizes an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset group plus net proceeds expected from disposition of the asset group, if any, is less than the carrying value of the asset group. If the Company identifies an impairment, the Company reduces the carrying amount of the asset group to its estimated fair value based on a discounted cash flow approach or, when available and appropriate, to comparable market values. The Company uses estimates and judgments in its impairment tests and if different estimates or judgments had been utilized, the timing or the amount of any impairment charges could be different. Asset groups to be disposed of would be reported at the lower of the carrying amount or fair value less costs to sell, and no longer depreciated. The assets and liabilities of a disposal group classified as held for sale would be presented separately in the appropriate asset and liability sections of the consolidated balance sheets.

Leases

The Company adopted ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”) from January 1, 2019 by using the modified retrospective method and did not restate the comparable periods. The Company has elected the package of practical expedients, which allows the Company not to reassess (1) whether any expired or existing contracts as of the adoption date are or contain a lease, (2) lease classification for any expired or existing leases as of the adoption date and (3) initial direct costs for any expired or existing leases as of the adoption date. The Company also elected the practical expedient not to separate lease and non-lease components of contracts, except for bandwidth service included in internet data center (“IDC”) facilities lease contracts. Lastly, the Company elected the short-term lease exemption for all contracts with lease terms of 12 months or less.

The Company determines if an arrangement is a lease or contains a lease at lease inception. For operating leases, the Company recognizes an ROU asset and a lease liability based on the present value of the lease payments over the lease term on the consolidated balance sheets at commencement date. For finance leases, assets are included in property and equipment on the consolidated balance sheets. As most of the Company’s leases do not provide an implicit rate, the Company estimates its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located. The Company’s leases often include options to extend and lease terms include such extended terms when the Company is reasonably certain to exercise those options. Lease terms also include periods covered by options to terminate the leases when the Company is reasonably certain not to exercise those options. Lease expense is recorded on a straight-line basis over the lease term.

Upon adoption, the Company recognized ROU assets of RMB5.4 billion (US$782 million) and total lease liabilities (including current and non-current) RMB5.0 billion (US$716 million) for operating leases as of January 1, 2019. Total ROU assets included RMB265 million of land use rights that were previously presented in intangible assets on the consolidated balance sheet as of December 31, 2018. The impact of adopting ASU 2016-02 on the Company’s opening retained earnings and current year net income was insignificant. As of December 31, 2019, the Company recognized operating lease ROU assets of RMB7.3 billion (US$1.1 billion) and total lease liabilities RMB 6.8 billion (US$972 million), including current portion of RMB2.3 billion (US$328 million) for operating leases.

Revenue Recognition

The Company adopted ASC Topic 606,

Revenue from Contracts with Customers

(“ASC 606”) from January 1, 2018, using the modified retrospective method. Revenues for the years ended December 31, 2018 and 2019 were presented under ASC 606, and revenues for the year ended December 31, 2017 was not adjusted and continue to be presented under ASC Topic 605,

Revenue Recognition

. The cumulative effect of adopting ASC 606 resulted in an increase of RMB

933

million to the opening balance of retained earnings at January 1, 2018, which is primarily related to the Company’s online marketing revenues.

Revenue is recognized when control of promised goods or services is transferred to the Company’s customers in an amount of consideration to which an entity expects to be entitled to in exchange for those goods or services. Starting from January 1, 2018, value added taxes (“VAT”) was reclassified from cost of revenue to net against revenues in accordance with ASC 606. Therefore, revenue for fiscal 2017 was reported gross of VAT and revenues for 2018 and 2019 were reported net of VAT.

The Company recognized VAT of RMB

4.8

billion, RMB

6.1

billion and RMB

6.4

billion (US

925

million) for the years ended December

2017

2018

and

2019

, respectively.


	For the years ended
	December 31, 2017		December 31, 2018		December 31, 2019		December 31, 2019
	RMB		RMB		RMB		US$
	(In millions)
Online marketing		73,146		81,912		78,093		11,217

iQIYI membership service		6,532		10,603		14,415		2,071
iQIYI content distribution		1,192		2,163		2,544		365
Interest income earned from provision of financial services		1,658		1,724		—		—
Others		2,281		5,875		12,361		1,776

Other revenue		11,663		20,365		29,320		4,212

Total revenue		84,809		102,277		107,413		15,429

The Company’s revenue recognition policies effective on the adoption date of ASC 606 are as follows:

Performance-based online marketing services

Cost-per-

click

(“CPC”)

The Company’s auction-based P4P platform enables customers to bid for priority placement of paid sponsored links and reach users who search for information related to their products or services. P4P online marketing customers can choose from search-based and feed-based online marketing services, and select criteria for their inventory purchase, such as daily spending limit and user profile targeted, including, but not limited to, users from specific regions in China and users

online

during specific time period. Revenue is recognized when all of the revenue recognition criteria are met, which is generally when a user clicks on one of the customer-sponsored links or feed-based marketing.

Other performance-based online marketing services

To the extent the Company provides online marketing services based on performance criteria other than cost-per-click, such as the number of downloads (and user registration) of mobile apps and the pre-determined ratios of

completed transaction volumes, revenue is recognized when the specified performance criteria are met along with the satisfaction of other applicable revenue recognition criteria.

Online display advertising services

The Company provides online display advertising services to its customers by integrating text description, image and/or video, and displaying the advertisement in the search result, in Baidu Feed or on other properties. The Company recognizes revenue on a pro-rata basis over the contractual term for cost per time advertising arrangements, commencing on the start date of the display advertisement, or based on the number of times that the advertisement has been displayed for cost per thousand impressions advertising arrangements.

Baidu Union online marketing services

Baidu Union is a program through which the Company expands distribution of its customers’ sponsored links or advertisements by leveraging the traffic of Baidu Union partners’ online properties. The Company acquires traffic from Baidu Union partners and is responsible for service fulfillment, pricing and bearing inventory risks. As principal, the Company recognizes revenue on a gross basis, based on customer billing. Payments made to Baidu Union partners are recorded as traffic acquisition costs, which are included in “cost of revenues” in the consolidated statements of comprehensive income.

Online marketing services customers are required to pay a deposit before using our services. Once their account balance falls below a designated amount, they will receive an automated notice from the Company to replenish their accounts. Customer deposit is deducted when a user clicks on the customer’s link in the search result or when other performance criteria other than CPC have been satisfied. The Company offers payment terms to certain customers based on their credit history with the Company and other credit factors. The Company may also offer payment terms to certain agencies, as is common in the industry.

Collection

Certain customers of online marketing services are required to pay a deposit before using our services and are sent automated reminders to replenish their accounts when the balance falls below a designated amount. The deposits received are recorded as customer deposits and deferred revenue on the consolidated balance sheets. The amounts due to the Company are deducted from the deposited amounts when users click on the paid sponsored links in the search results or other performance criteria have been satisfied. In addition, the Company offers payment terms to some of our customers based on their historical marketing placements and credibility. The Company also offers longer payment terms to certain online payment agencies, consistent with industry practice.

Payment terms and conditions vary by customer and are based on the billing schedule established in our contracts or purchase orders with customers, but we generally provide credit terms to customers within one year; therefore, we have determined that our contracts do not include a significant financing component.

Sales incentives

The Company provides sales incentives to agents that entitle them to receive price reduction on the online marketing services by meeting certain cumulative consumption requirements. The Company accounts for these incentives granted to customers as a variable consideration and net them against revenue. The amount of variable consideration is measured based on the most likely amount of incentives to be provided to customers.

Membership services

The Company offers membership services that allow subscribers access to a library of premium content or personal cloud service, in exchange for

non-refundable

upfront membership fees. When the receipt of membership fees is for services to be delivered over a period of time, the receipt is initially recorded as deferred revenue and revenue is recognized ratably over the membership period as services are rendered. Membership services revenue also includes fees earned from

on-demand

content purchases and the sale of right to other services, such as other memberships, which the Company acquires and controls before they are transferred to customers.

Content distribution

The Company generates revenues from

sub-licensing

content licensed from vendors for cash or through nonmonetary exchanges mainly with other online video broadcasting companies. The exclusive licensing agreements the Company enters into with the vendors have a specified license period and provide the Company rights to

sub-license

these contents to other parties. The Company enters into a

non-exclusive

sub-license

agreement with a

sub-licensee

for a period that falls within the original exclusive license period. For cash

sub-licensing

transactions, the Company is entitled to receive the

sub-license

fee under the

sub-licensing

arrangements and does not have any future obligation once it has provided the underlying content to the

sub-licensee

(which is provided at or before the beginning of the

sub-license

period). The

sub-

licensing of content represents a license of functional intellectual property that grants a right to use the Company’s licensed copyrights, and is recognized at the point in time when the licensed copyright is made available for the customer’s use and benefit.

The Company also enters into nonmonetary transactions to exchange online broadcasting rights of licensed copyrights with other online video broadcasting companies from time to time. The exchanged licensed copyrights provide rights for each party to broadcast the licensed copyrights received on its own website only. Each transferring party retains the right to continue broadcasting the exclusive content on its own website and/or sublicense the rights to the content it surrendered in the exchange. The Company accounts for these nonmonetary exchanges based on the fair value of the asset received starting from January 1, 2018, when ASC 606 was adopted. Barter sublicensing revenues are recognized in accordance with the same revenue recognition criteria above. The Company estimates the fair value of the licensed copyrights received based on various factors, including the purchase price of similar non-exclusive and/or exclusive contents, broadcasting schedule, cast and crew, themes popularity, and box office. The attributable cost of sublicensing transactions, whether for cash or through nonmonetary exchanges, is recognized as cost of revenues through the amortization of the sublicensing right component of the exclusive licensed copyright, calculated based on its estimated usage pattern.

The Company recognized barter sublicensing revenues of RMB763 million, RMB1.1 billion and 683

illion (US$98 million) and related costs of RMB650 million, RMB1.0 billion and RMB570

illion (US$82 million) for the years ended December 31, 2017, 2018 and 2019, respectively.

Financial services

The Company offers financial services which include provision of installment payment services to consumers and wealth management services to third-party investors. Interest income earned from provision of financial services is reported as “Other revenues” and reported on a net basis after deduction of related interest costs incurred. The Company recognized gross interest income of RMB3.5 billion and RMB3.3 billion and interest costs of RMB1.9 billion and RMB1.6 billion for the years ended December 31, 2017 and 2018, respectively. The financial services business was disposed of in August 2018 (Note 4).

Cloud services

The Company provides cloud services, which include computing, database, storage and other services and allow customers to use hosted software over the contract period without taking possession of the software, generally on either a subscription or consumption basis. Revenue related to cloud services provided on a subscription basis is recognized ratably over the contract period. Revenue related to cloud services provided on a consumption basis, such as the amount of storage used in a period, is recognized

based

on the customer utilization of such resources.

Sales of hardware

The Company sells hardware products via distributors or directly to end customers. Revenue from the sales of hardware is recognized when control of the goods is transferred to customers, which generally occurs when the products are delivered and accepted by

the

customers. Revenue is recorded net of sales incentives and return allowance.

Other revenue recognition related policies

For arrangements that include multiple performance obligations, primarily for advertisements to be displayed in different spots, placed under different forms and displayed at different times, the Company would evaluate all of the performance obligations in the arrangement to determine whether each performance obligation is distinct. Consideration is allocated to each performance obligation based on its standalone selling price. The Company generally determines standalone selling prices based on the prices charged to customers on a standalone basis or estimate it using an expected cost plus margin approach. If a promised good or service does not meet the criteria to be considered distinct, it is combined with other promised goods or services until a distinct bundle of goods or services exists.

Timing of revenue recognition may differ from the timing of invoicing to customers. For certain services customers are required to pay before the services are delivered to the customer. When either party to a revenue contract has performed, the Company recognizes a contract asset or a contract liability on the consolidated balance sheet, depending on the relationship between the entity’s performance and the customer’s payment. Contract liabilities were mainly related to fees for membership services to be provided

over

the membership period, which were presented as deferred revenue on the consolidated balance sheets. The year over year increase in deferred revenue as compared to the year ended December 31, 2018 is a result of the increase in consideration received from the Company’s customers.

Revenue recognized for the year ended December 31, 2019 that was included in contract liabilities as of January 1, 2019 was RMB

3.1

billion (US$

444

million).

Contract assets represent unbilled amounts related to the Group’s rights to consideration for advertising services delivered and are included in “Other current assets, net” on the consolidated balance sheets. As of December 31, 2018 and 2019, contract assets were RMB

1.4

billion and RMB

1.9

illion (US$

269

million), net of allowance for doubtful accounts of RMB21 million and RMB7 million (US$1 million), respectively. The increase in the

balance of contract assets was primarily due to more outstanding advertising contracts as of December 31, 2019

compared to the prior year for which the Group had commenced to provide advertisement placements but had not completed all specified advertising services in the contract, which corresponds to when the Group has the right to bill its customers.

The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed.

Cost of Revenues

Cost of revenues consists primarily of traffic acquisition costs, bandwidth costs, depreciation, content costs, payroll, cost of hardware sold and related costs of operations. Starting from January 1, 2018, VAT was recorded net against revenue instead of as cost of revenue.

Traffic acquisition costs represent the amounts paid or payable to Baidu Union partners who direct search queries to the Company’s websites or distribute the Company’s customers’ paid links through their properties. These payments are primarily based on revenue sharing arrangements under which the Company pays its Baidu Union partners and other business partners a percentage of the fees it earns from its online marketing customers.

Advertising and Promotional Expenses

Advertising and promotional expenses, including advertisements through various forms of media and kinds of marketing and promotional activities, are included in “Selling, general and administrative expense” in the consolidated statements of comprehensive income (loss) and are expensed when incurred. Advertising and promotional expenses for the years ended December 31, 2017, 2018 and 2019 were

RMB4.6 billion, RMB10.1 billion and RMB10.5 billion (US$1.5 billion), respectively.

Government Subsidies

Government subsidies primarily consist of financial subsidies received from provincial and local governments for operating a business in their jurisdictions and compliance with specific policies promoted by the local governments. For certain government subsidies, there are no defined rules and regulations to govern the criteria necessary for companies to receive such benefits, and the amount of financial subsidy is determined at the discretion of the relevant government authorities. The government subsidies of

non-operating

nature with no further conditions to be met are recorded as

non-operating

income in “Other income, net” when received. The government subsidies with certain operating conditions are recorded as “

eferred income” when received and will be recorded as operating income when the conditions are met.

Income Taxes

The Company recognizes income taxes under the

liability

method. Deferred income taxes are recognized for differences between the financial reporting and tax bases of assets and liabilities at enacted tax rates in effect for the years in which the differences are expected to reverse. The Company records a valuation allowance against the amount of deferred tax assets that it determines is not

more-likely-than-not

to be realized. The effect on deferred taxes of a change in tax rates is recognized in earnings in the period that includes the enactment date.

The Company applies the provisions of ASC Topic 740,

Income Taxes

(“ASC 740”), in accounting for uncertainty in income taxes. ASC 740 clarifies the accounting for uncertainty in income taxes by prescribing the recognition threshold a tax position is required to meet before being recognized in the financial statements. The Company has elected to classify interest and penalties related to an uncertain tax position (if and when required) as part of income tax expense in the consolidated statements of comprehensive income. As of and for the years ended December 31, 2017, 2018 and 2019, the amounts of unrecognized tax benefits as well as interest and penalties associated with uncertainty in income taxes were insignificant.

Share-based Compensation

The Company accounts for share-based compensation in accordance with ASC Topic 718,

Compensation-Stock Compensation

(“ASC 718”)

The Company has elected to recognize share-based compensation using the

straight-line method for all share-based awards issued with no performance conditions. For awards with performance conditions, compensation cost is recognized on an accelerated basis if it is probable that the performance condition will be achieved.

Forfeitures are estimated based on historical experience and are periodically reviewed. Cancellation of an award accompanied by the concurrent grant of a replacement award is accounted for as a modification of the terms of the cancelled award (“modified awards”). The compensation costs associated with the modified awards are recognized if either the original vesting condition or the new vesting condition is achieved. Total recognized compensation cost for the awards is at least equal to the fair value of the awards at the grant date unless at the date of the modification the performance or service conditions of the original awards are not expected to be satisfied. The incremental compensation cost is measured as the excess of the fair value of the replacement award over the fair value of the cancelled award at the cancellation date. Therefore, in relation to the modified awards, the Company recognizes share-based compensation over the vesting periods of the replacement award, which comprises, (i) the amortization of the incremental portion of share-based compensation over the remaining vesting term and (ii) any unrecognized compensation cost of the original award, using either the original term or the new term, whichever results in higher expenses for each reporting period.

The Company accounts for share awards issued to

non-employees

in accordance with the provisions of ASC Subtopic

505-50,

Equity: Equity-based Payments to Non-Employees

. Prior to adopting ASU

2018-07,

Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting to simplify the accounting for share-based payments to nonemployees

(“ASU

2018-07”)

on January 1, 2019, the Company uses the Black-Scholes-Merton option pricing model method to measure the value of options granted to

non-employees

at each vesting date to determine the appropriate charge to share-based compensation.

The Company’s adopted ASU

2018-07

on January 1, 2019

using

the modified retrospective method. Subsequent to the adoption, the Company measures equity-classified nonemployee awards using their fair value on grant date. The impact of adopting the new standard was insignificant.

Earnings Per Share (“EPS”)

The Company computes earnings per Class A and Class B ordinary shares in accordance with ASC Topic 260,

Earnings Per Share

(“ASC 260”), using the two-class method. Under the provisions of ASC 260, basic earnings per share is computed using the weighted average number of ordinary shares outstanding during the period except that it does not include unvested ordinary shares subject to repurchase or cancellation. The Company adjusts for the accretion of the redeemable noncontrolling interests in the calculation of income available to ordinary shareholders of the Company used in the earnings per share calculation.

Diluted earnings per share is computed using the weighted average number of ordinary shares and, if dilutive, potential ordinary shares outstanding during the period. Potentially dilutive securities such as stock options, restricted shares and convertible senior notes have been excluded from the computation of diluted net income per share if their inclusion is anti-dilutive. Potential ordinary shares consist of the incremental ordinary shares issuable upon the exercise of stock options, restricted shares subject to forfeiture, and contracts that may be settled in the Company’s stock or cash. The dilutive effect of outstanding stock options and restricted shares is reflected in diluted earnings per share by application of the treasury stock method. The computation of the diluted earnings per Class A ordinary share assumes the conversion of Class B ordinary shares to Class A ordinary shares, while diluted earnings per Class B ordinary share

does

not assume the conversion of such shares. The Company adjusts for the securities issued by subsidiaries and equity method investees in the calculation of income available to ordinary shareholders of the Company used in the diluted earnings per share calculation.

The liquidation and dividend rights of the holders of the Company’s Class A and Class B ordinary shares are identical, except with respect to voting rights. As a result, and in accordance with ASC 260, the undistributed earnings for each year are allocated based on the contractual participation rights of the Class A and Class B ordinary shares as if the earnings for the year had been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. Further, as the conversion of Class B ordinary shares is assumed in the computation of the diluted earnings per Class A ordinary share, the undistributed earnings are equal to net income for that computation.

For the purposes of calculating the Company’s basic and diluted earnings per Class A and Class B ordinary shares, the ordinary shares relating to the options that were exercised are assumed to have been outstanding from the date of exercise of such options.

Contingencies

The Company records accruals for certain of its outstanding legal proceedings or claims when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated. The Company evaluates, on a quarterly basis, developments in legal proceedings or claims that could affect the amount of any accrual, as well as

any

developments that would make a loss contingency both probable and reasonably estimable. The Company discloses the amount of the accrual if it is material.

When a loss contingency is not both probable and estimable, the Company does not record an accrued liability but discloses the nature and the amount of the claim, if material. However, if the loss (or an additional loss in excess of the accrual) is at least reasonably possible, then the Company discloses an estimate of the loss or range of loss, unless it is immaterial or an estimate cannot be made. The assessment of whether a loss is probable or reasonably possible, and whether the loss or a range of loss is estimable, often involves complex judgments about future events. Management is often unable to estimate the loss or a range of loss, particularly where (i) the damages sought are indeterminate, (ii) the proceedings are in the early stages, or (iii) there is a lack of clear or consistent interpretation of laws specific to the industry-specific complaints among different jurisdictions. In such cases, there is considerable uncertainty regarding the timing or ultimate resolution of such matters, including eventual loss, fine, penalty or business impact, if any.

Concentration of Risks

Concentration of credit risk

Financial instruments that potentially subject the Company to significant concentration of credit risk primarily consist of cash and cash equivalents, restricted cash, short-term investments, accounts receivable, contract assets

and amounts due from related parties. As of December 31, 2019, the Company has RMB

147.4

billion (US$

21.2

billion) in cash and cash equivalents, restricted cash, and short-term investments,

% and

% of which are held by financial institutions in the PRC and international financial institutions outside of the PRC, respectively. The Company’s total cash and cash equivalents, restricted cash, and short-term investments held at

three

financial institutions in the PRC exceeded 10%, representing

and

% of the Company’s total cash and cash equivalents, restricted cash, and short-term investments as of December 31, 2019, respectively.

PRC state-owned banks, such as Bank of China, are subject to a series of risk control regulatory standards, and PRC bank regulatory authorities are empowered to take over the operation and management when any of those

banks

faces a material credit crisis. The Company does not foresee substantial credit risk with respect to cash and cash equivalents, restricted cash and short-term investments held at the PRC state-owned banks. Meanwhile,

China does not have an official deposit insurance program, nor does it have an agency similar to what was the Federal Deposit Insurance Corporation (FDIC) in the U.S. In the event of bankruptcy of one of the financial institutions in which the Company has deposits or investments, it may be unlikely to claim its deposits or investments back in full. The Company selected reputable international financial institutions with high rating rates to place its foreign currencies. The Company regularly monitors the rating of the international financial institutions to avoid any potential defaults. There has been no recent history of default in relation to these financial institutions.

Accounts receivable and contract assets are typically unsecured and derived from revenue earned from customers and agents in China, which are exposed to credit risk. The risk is mitigated by credit evaluations the Company performs on its customers and its ongoing monitoring process of outstanding balances. The Company maintains reserves for estimated credit losses and these losses have generally been within its expectations. As of December 31, 2018 and 2019, the Company had

single customer with a receivable balance exceeding 10% of the total accounts receivable balance.

No customer or any Baidu Union partner generated greater than 10% of total revenues in any of the three years presented.

Amounts due from related parties are typically unsecured. In evaluating the collectability of the amounts due from related parties, the Company considers many factors, including the related parties’ repayment history and their credit-worthiness. An allowance

for

doubtful accounts is made when collection of the full amount is no longer probable.

Business and economic risks

The Company participates in the dynamic and competitive high technology industry and believes that changes in any of the following areas could have a material adverse effect on the Company’s future financial position, results of operations and cash flows: changes in the overall demand for services and products; changes in business offerings; competitive pressures due to existing and new entrants; advances and new trends in new technologies and industry standards; changes in bandwidth suppliers; changes in certain strategic relationships or customer relationships; regulatory considerations; copyright regulations; brand maintenance and enhancement; and risks associated with the Company’s ability to attract and retain employees necessary to support its growth.

The Company’s operations could be adversely affected by significant political, economic and social uncertainties, epidemic and trade war disruptions in the PRC.

Currency convertibility risk

Substantially all of the Company’s businesses are transacted in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Foreign exchange transactions, including foreign currency payments, require the approval of the People’s Bank of China and/or regulatory institutions.

Foreign currency exchange rate risk

The functional currency and the reporting currency of the Company are the USD and the RMB, respectively. The Company’s exposure to foreign currency exchange rate risk primarily relates to cash and cash equivalents,

restricted cash, short-term investments, long-term investments, accounts and notes payable and convertible senior notes denominated in the USD. On June 19, 2010, the People’s Bank of China announced the end of the RMB’s de facto peg to the USD, a policy which was instituted in late 2008 in the face of the global financial crisis, to further reform the RMB exchange rate regime and to enhance the RMB’s exchange rate flexibility. On March 15, 2014, the People’s Bank of China announced the widening of the daily trading band for RMB against USD. The appreciation of the USD against the RMB was approximately 1.26% in 2019. Most of the revenues and costs of the Company are denominated in RMB, while a portion of cash and cash equivalents, restricted cash, short-term investments, long-term investments, notes payable and convertible senior notes are denominated in the USD. It is difficult to predict how market forces or PRC or U.S. government policy may impact the exchange rate between the RMB and the USD in the future. Any significant fluctuation of the valuation of RMB may materially

affect

the Company’s cash flows, revenues, earnings and financial position, and the value of, and any dividends payable on, the ADS in USD.

Derivative Instruments

ASC Topic 815,

Derivatives and Hedging

(“ASC 815”), requires all contracts which meet the definition of a derivative to be recognized on the balance sheet as either assets or liabilities and recorded at fair value. Changes in the fair value of derivative financial instruments are either recognized periodically in earnings or in other comprehensive income (loss) depending on the use of the derivative and whether it qualifies for hedge accounting. Changes in fair values of derivatives not qualified as hedges are reported in earnings.

Recent Accounting Pronouncements

In June 2016, the FASB issued ASU No.

2016-13,

Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

(“ASU

2016-13”)

which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU

2016-13

replaces the existing incurred loss impairment

model

with an expected loss methodology, which will result in more timely recognition of credit losses. ASU

2016-13

is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2019. The

omp

any

does not expect any material impact on net assets and the consolidated statement of comprehensive income (loss) as a result of adopting the new standard.

In January 2017, the FASB issued ASU 2017-04,

Simplifying the Test for Goodwill Impairment

(“ASU 2017-04”), which simplifies the accounting for goodwill impairment by eliminating Step two from the goodwill impairment test. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, versus determining an implied fair value in Step two to measure the impairment loss. The guidance is effective for annual and interim impairment tests performed in periods beginning after December 15, 2019. Early adoption is permitted for all entities for annual and interim goodwill impairment testing dates on or after January 1, 2017. The guidance should be applied on a prospective basis. The Company does not expect any material impact on its consolidated financial statements and related disclosures as a result of adopting the new standard.

In March 2019, the FASB issued ASU 2019-02,

Improvements to Accounting for Costs of Films and License Agreements for Program Materials

(“ASU 2019-02”). ASU 2019-02 aligns the accounting for production costs of an episodic television series with the accounting for production costs of films by removing the content distinction for capitalization. ASU 2019-02 also requires testing capitalized produced and licensed content for impairment using a fair value model at a film group level when the produced and licensed contents are predominantly monetized with other produced and/or licensed contents. A film or film group represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other produced or licensed contents, which is the unit of account for testing impairment. The predominant monetization strategy

should be

reasse

ssed

if there is a significant change to the monetization strategy of a produced or licensed content. Further, ASU 2019-02 requires that an entity reassess estimates of the use of a film in a film group and account for changes, if any, prospectively. The presentation and disclosure requirements in ASU 2019-02 also increase the transparency of information provided to users of financial statements about produced and licensed content. This update will be effective for the Company’s fiscal years beginning after December 15, 2019, and interim periods within those fiscal years.

The Company will adopt ASU 2019-02 on January 1, 2020 and report cash outflows for the costs incurred to obtain rights for both produced and licensed content as operating cash outflows in the statement of cash flows. As the majority of the Company’s produced and licensed content are predominantly monetized as a group, upon

adoption

of the new standard, they will be reviewed for impairment when there are events or changes in circumstances that indicate such assessment should be made.

Business Combinations

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Business Combinations

3.	BUSINESS COMBINATIONS

Business combinations in 2018:

During the year ended December 31, 2018, the Company completed several business combinations, to complement its existing businesses and achieve synergies. The acquired entities individually and in aggregate were insignificant. Results of the acquired entities’ operations have been included in the Company’s consolidated financial statements since the acquisition dates.


	RMB
	(In millions)
Purchase consideration		2,378

Net assets acquired, excluding intangible assets and the related deferred tax liabilities		1,545
Intangible assets, net		1,424
Deferred tax liabilities		(292	)
Pre-existing equity interests		(1,651	)
Noncontrolling interests		(1,312	)
Redeemable non-controlling interests (Note 17)		(698	)
Goodwill		3,362

		2,378

The aggregate purchase price allocation includes acquisition of certain

acquirees

, which were equity method

investees

of the Company prior to the acquisitions. In aggregate, a

re-measurement

gain relating to the Company’s

pre-existing

equity interest of RMB

630

million was recognized during the year ended December

2018

. The Company applied the equity method of accounting by recognizing its share of the profit or loss in these equity method

investees

up to their respective dates of acquisition.

Goodwill, which is

non-deductible

for tax purpose

, is primarily attributable to the synergies expected to be achieved from the acquisitions.

Neither the results of operations since the acquisition dates nor the pro forma results of operations of the

acquirees

were presented because the effects of these business combinations, individually and in the aggregate, were not significant to the Company’s consolidated results of operations.

Business combinations in 2019:

During the year ended December 31, 2019, the Company completed several business combinations, total purchase consideration in aggregate was RMB1.2 billion (US$168 million), among which RMB978 million (US$140 million) was allocated to goodwill. The Company expects to achieve significant synergies from such acquisitions which it plans to complement its existing businesses. The acquired entities were considered insignificant, both individually and

in aggregate.

Results of the acquired entities’ operations have been included in the Company’s consolidated financial statements since the acquisition date.


	RMB			US$
	(In millions)
Purchase consideration		1,168			168

Net assets acquired, excluding intangible assets and the related deferred tax liabilities		229			33
Intangible assets, net		543			78
Deferred tax liabilities		(134	)		(19	)
Noncontrolling interests		(266	)		(38	)
Redeemable non-controlling interests (Note 1 7 )		(182	)		(26	)
Goodwill		978			140

		1,168			168

Goodwill, which is non-deductible for tax purposes, is primarily attributable to the synergies expected to be achieved from the acquisitions.

Neither the results of operations since the acquisition dates nor the pro forma results of operations of the acquirees were presented because the effects of these business combinations, individually and in the aggregate, were not significant to the Company’s consolidated results of operations.

The valuations used in the purchase price allocation described above were determined by the Company with the assistance of independent third-party valuation firms. The valuation reports considered generally accepted valuation methodologies such as the income, market and cost approaches. As the acquirees are all private companies, the fair value estimates of

pre-existing

equity method investments or noncontrolling interests are based on significant inputs considered by market participants which mainly include (a) discount rate, (b) projected terminal value based on future cash flow (c) financial multiple of companies in the same industry and (d) adjustment for lack of control or lack of marketability.

Investments

12 Months Ended

Dec. 31, 2019

Schedule of Investments [Abstract]

Investments

4.	INVESTMENTS

Short-term Investments

As of December 31, 2019, the Company’s short-term investments comprised of only debt securities. Short-term

held-to-maturity

investments were mainly deposits in commercial banks with maturities of less than one year and the Company ha

the positive intent and ability to hold those securities to maturity. The short-term

available-for-sale

investments include wealth management products issued by commercial banks and other financial institutions.

During the years ended December 31, 2017, 2018 and 2019, the Company recorded interest income from its short-term investments of RMB3.0 billion, RMB3.9 billion and RMB5.4 billion (US$771 million) in the consolidated statements of comprehensive income, respectively.

Short-term investments classification as of December 31, 2018 and 2019 were shown as below:


	As of December 31, 2018
	Cost or Amortized cost		Gross unrecognized holding gains		Gross unrecognized holding losses		Gross unrealized gains		Gross unrealized losses			Fair value
	RMB		RMB		RMB		RMB		RMB			RMB
	(In millions)
Held-to-maturity debt investments		27,388		119		—		—		—			27,507
Available-for-sale debt investments		83,100		—		—		1,216		(78	)		84,238


	As of December 31, 2019
	Cost or Amortized cost		Gross unrecognized holding gains		Gross unrecognized holding losses		Gross unrealized gains		Gross unrealized losses		Fair value
	RMB		RMB		RMB		RMB		RMB		RMB		US$
	(In millions)
Held-to-maturity debt investments		107,287		367		—		—		—		107,654		15,464
Available-for-sale debt investments		5,440		—		—		197		—		5,637		810

Long-term Investments

Equity investments at fair value with readily determinable fair value

Equity investments at fair value with readily determinable fair value represent investments in the equity securities of publicly listed companies, for which the Company does not have significant influence. Starting in January 1, 2018 after adopting ASC 321, these investments were classified as equity investments at fair value with readily determinable fair value and reported at fair value. Changes in fair value are recognized in earnings, instead of accumulated other comprehensive income (loss).

Equity investments at fair value without readily determinable fair value

In accordance with ASC 321, the Company elected to use the measurement alternative to measure such investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any.

The total carrying value of equity investments measured at fair value using the measurement alternative held as of December 31, 2018 and 2019 were as follows:


	As of December 31, 2018			As of December 31, 2019			As of December 31, 2019
	RMB			RMB			US$
	(In millions)
Initial cost basis		26,728			21,211			3,047
Cumulative unrealized gains		6,271			5,636			810
Cumulative unrealized losses (including impairment)		(3,730	)		(2,161	)		(311	)

Total carrying value		29,269			24,686			3,546

Total unrealized and realized gains and losses of equity securities without readily determinable fair values in 2018 and 2019 were as follows:


	For the years ended December 31,
	2018			2019			2019
	RMB			RMB			US$
	(In millions)
Gross unrealized gains		7,119			1,447			208
Gross unrealized losses (including impairment) (1)		(2,867	)		(1,641	)		(236	)

Net unrealized gains (losses) on equity securities held		4,252			(194	)		(28	)
Net realized gains on equity securities sold		124			211			30

Total net gains recognized in other income, net		4,376			17			2

(1)

Gross unrealized losses (downward adjustments excluding impairment) were RMB2,412

illion and RMB863

million (US$124

million) for the years ended December 31, 2018 and 2019, respectively.

In May 2017, the Company completed the disposal of its mobile game business, and recognized a gain of RMB923 million in “Other income, net.”

In August 2017, the Company completed the disposal of Xiaodu Life Technology Ltd (“Xiaodu”), a former subsidiary of the Company engaged in the business of takeout delivery services, to Rajax Holding, a China based delivery company. The Company recognized a total gain of RMB

4.6 billion in “Other income, net.” in 2017.

In October 2017, the Company completed the share purchase transaction of China United Network Communication Limited (“China Unicom”), a listed telecommunications company in China. The total purchase consideration was RMB7.0 billion in cash with RMB4.0 billion attributable to noncontrolling interest. The China Unicom investment was held by a

non-wholly-owned

subsidiary of the Company and was accounted for as a cost method investment, due to a three-year holding requirement before adopting ASC 321. Subsequent to the adoption of ASC 321 it was accounted for as an equity investment at fair value, using the measurement alternative in 2018 and as equity investment with readily determinable fair value at the end of 2019.

Equity method investments

The carrying amounts of the Company’s equity method investments were RMB44.1 billion and RMB27.1 billion (US$3.9 billion) as of December 31, 2018 and 2019, respectively. For the years ended December 31, 2018 and 2019, the impairment recognized for equity method investments were RMB167 million and RMB9.2 billion (US$1.3 billion), respectively.

Equity Investment in Trip.com International, Ltd. (“Trip”) (formally known as Ctrip)

In October 2015, the Company deconsolidated the financial results of Qunar and accounted for the investment in Trip under the equity method in accordance with ASC 323, following a share exchange transaction with Trip (“Trip transaction”), which exchanged certain Class A and Class B ordinary shares in Qunar Cayman Islands Limited (“Qunar”) for certain newly-issued ordinary shares of Trip. The Company recorded the investment in Trip at the fair value of the shares acquired on the closing date of the Trip transaction.

A gain of RMB24.4 billion arising from the Trip transaction was recognized in “Other income(loss), net” in the consolidated statements of comprehensive income for the year ended December 31, 2015, with a corresponding increase in the carrying value of the investment. During 2019, the market value of Trip had significantly declined and remained below the carrying value of the investment for a prolonged period of time. Therefore, the Company concluded that the decline in market value of the investment in Trip was other-than-temporary as of September 30, 2019 and an impairment charge of RMB8.9 billion (US$

1.3

billion) was

recorded in the third quarter of 2019.

The Company made an adjustment to the equity method goodwill on acquisition of

RMB

8.9

billion

(US$

1.3

billion) accordingly.

In October 2019, the Company disposed an aggregate of 36 million American Depositary Shares of Trip for cash consideration of US$988 million. The Company recognized a disposal loss of RMB43 million (US$6 million).

After the partial disposal of the investment in Trip, the Company held approximately 12% equity interest in Trip and the Company can actively participate in the operating and financing policies of Trip through its two seats on Trip’s board of directors with a total of nine members. Accordingly, the Company continues to have significant influence over Trip

and

accounts for its remaining investment as an equity method investment in accordance with ASC 323.

As of December 31, 2019, the Company’s investments in Trip had a fair value of RMB

16.2

billion (US$

2.3

billion), based on the closing

price.

The following tables set forth the summarized financial information of Trip:


	As of September 30, (i)
	2018 (ii)		2019		2019
	RMB		RMB		US$
	(In millions)
Current assets		84,464		75,578		10,856
Non-current assets		104,906		127,505		18,315
Current liabilities		69,065		74,118		10,646
Non-current liabilities		30,318		25,134		3,610
Noncontrolling interests		2,231		2,047		294


	For the twelve months ended September 30, (i)
	2017 (ii)		2018 (ii)		2019		2019
	RMB		RMB		RMB		US$
	(In millions)
Total revenues		25,731		29,944		34,958		5,021
Gross profit		20,725		24,019		27,627		3,968
Income from operations		2,626		3,302		4,271		613
Net income		2,282		2,807		3,764		541
Net income attributable to the investees		2,284		2,806		3,813		548

(i)	The Company adopted a one-quarter lag in reporting its share of equity income in T rip .

(ii)	T rip adopted ASC 606 , on a fully retrospective basis , and ASC 321 (collectively “new standards”) from January 1, 2018. The impact of the new standards on the Company’s financial statement s is immaterial, and prior period financial information of T rip was not restated.

Disposal of financial services business

In April 2018, the Company entered into definitive agreements relating to the disposal of its wholly-owned financial services business, which provided consumer credit, wealth management and other financial services. To facilitate the divesture, the Company conducted a series of legal restructuring and recapitalization of entities conducting the financial services business (“Du Xiaoman”), which were accounted for as transactions under common control.

In August 2018, Du Xiaoman issued preferred shares to third-party investors, which resulted in the Company becoming a minority shareholder of Du Xiaoman. Accordingly, Du Xiaoman was deconsolidated from the Group and a disposal gain of RMB5.5 billion was recognized in “Other income

(loss)

net” including RMB4.2 billion relates to the

re-measurement

of the Company’s retained investment in Du Xiaoman. The disposal of Du Xiaoman did not meet the definition of a discontinued operation per ASC Subtopic

205-20,

Presentation of Financial Statements

—

Discontinued Operations

, as the divesture did not represent a shift in strategy nor had a major impact to the Group’s operation and financial results.

The Company retained an equity interest of 41% on a fully diluted basis, and accounted for Du Xiaoman as an equity method investment in accordance with ASC 323, as it retained significant influence over Du Xiaoman. The carrying amount of the Du Xiaoman investment in excess of the Company’s proportionate interest in Du Xiaoman was recognized as equity method goodwill of RMB3.5 billion, intangible assets of RMB851 million and related deferred tax liabilities of RMB213 million.

Deconsolidation of one of the Company’s subsidiaries

In December 2019, the Company lost control and therefore deconsolidated one of its subsidiaries. A non-cash disposal loss of RMB801 million was recognized in “Others, net.” The Company continued to have significant influence over the entity and accounted for its remaining equity interest in the entity as an equity method investment in accordance with ASC 323.

As of December 31, 2018 and 2019, in addition to the aforementioned equity method investments, the Company held other equity method investments through its subsidiaries or VIEs and over which had significant influence.

For the year ended December 31, 2019, equity method investments excluding Trip held by the Company in aggregate have met the significance criteria as defined under Rule

4-08(g)

of Regulation

S-X.

Financial information for

the

Company’s equity method investments other than Trip are summarized as a group as follow:


	As of September 30,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Current assets		100,313		86,713		12,456
Non-current assets		11,050		18,980		2,726
Current liabilities		78,935		65,450		9,401
Non-current liabilities		2,718		8,677		1,246
Noncontrolling interests		1,706		1,498		215


	For the twelve months ended September 30, (i)
	2017			2018			2019			2019
	RMB			RMB			RMB			US$
	(In millions)
Total revenues		1,681			4,633			12,598			1,810
Gross profit		671			916			6,247			897
Loss from operations		(303	)		(418	)		(680	)		(98	)
Net loss		(310	)		(372	)		(638	)		(92	)
Net loss attributable to the investees		(311	)		(352	)		(933	)		(134	)

(i)	The Company adopted a one-quarter lag in reporting its shares of equity income in all of its investees.

Investments accounted for at fair value

Long-term equity investments in unlisted companies held by consolidated investment companies are accounted for at fair value in accordance with ASC Subtopic

946-320,

Financial Services—Investment Companies, Investments—Debt and Equity Securities

. These investments are carried at fair value with realized or unrealized gains and losses recorded in “Other income(loss), net” in the consolidated statements of comprehensive income.

The methodology used in the determination of fair value for

held-to-maturity

debt investments,

available-for-sale

debt investments, equity investments with readily determinable fair value and other investment securities accounted for at fair value are disclosed in Note 23.

Long-term investments classification, excluding equity method

investments

and equity investments at fair value without readily determinable fair value, as of December 31, 2018 and 2019 are shown as below:


	As of December 31, 2018
	Cost or Amortized cost		Gross unrecognized holding gains		Gross unrecognized holding losses		Gross unrealized gains		Gross unrealized losses			Fair value
	RMB		RMB		RMB		RMB		RMB			RMB
	(In millions)
Equity investments at fair value with readily determinable fair value		5,605		—		—		664		(1,841	)		4,428
Available-for-sale debt investment		1,167		—		—		—		—			1,167
Investments accounted for at fair value		1,139		—		—		318		—			1,457


	As of December 31, 2019
	Cost or Amortized cost		Gross unrecognized holding gains		Gross unrecognized holding losses			Gross unrealized gains		Gross unrealized losses			Fair value
	RMB		RMB		RMB			RMB		RMB			RMB		US$
	(In millions)
Equity investments at fair value with readily determinable fair value		11,769		—		—			2,195		(2,630	)		11,334		1,628
Available-for-sale debt investment s		3,913		—		—			138		(81	)		3,970		570
Investments accounted for at fair value		1,309		—		—			597		(87	)		1,819		261
Long-term held-to-maturity investments		496		—		(5	)		—		—			491		70

Available-for-sale debt investments are convertible debt instruments issued by private companies and investment in preferred shares that is redeemable at the Company’s option, which are measured at fair value. Investment in preferred shares that

are

redeemable at the Company’s option have no contractual maturity date.

The following table summarizes the estimated fair value of available-for-sale debt investments with stated contractual dates, classified by the contractual maturity date of the investments:


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Due in 1 year		—		505		73
Due in 1 year through 5 years		—		10		1
Due in 5 year through 10 years		—		1,486		213
Not due at a single maturity date		1,167		1,969		283

Total		1,167		3,970		570

Accounts Receivable

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Accounts Receivable

5.	ACCOUNTS RECEIVABLE


	As of December 31,
	2018			2019			2019
	RMB			RMB			US$
	(In millions)
Accounts receivable		6,614			8,344			1,198
Allowance for doubtful accounts		(599	)		(928	)		(133	)

		6,015			7,416			1,065

The movements in the allowance for doubtful accounts were as follows:


	2017			2018			2019			2019
	RMB			RMB			RMB			US$
	(In millions)
Balance as of January 1		177			316			599			86
Amounts charged to expenses		190			299			331			47
Amounts written off		(51	)		(16	)		(2	)		—

Balance as of December 31		316			599			928			133

Other Assets

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

6.	OTHER ASSETS


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Prepaid expenses		658		955		137
Advances to suppliers		1,686		964		138
Receivables from online payment agencies		892		585		84
Deposits		247		787		113
Licensed copyrights		1,176		1,225		176
Contract assets, net		1,415		1,876		269
VAT prepayments		436		1,605		231
Income tax prepayments		2		499		72
Others		329		693		100
Total other current assets		6,841		9,189		1,320
Long-term prepaid expenses		5,331		4,176		599
Produced content, net		3,736		4,355		626
Others		710		276		39

Total other non-current assets		9,777		8,807		1,264

Fixed Assets

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Fixed Assets

7.	FIXED ASSETS


	As of December 31,
	2018			2019			2019
	RMB			RMB			US$
	(In millions)
Computer equipment		26,186			29,592			4,251
Office building		4,168			4,628			665
Office building related facility, machinery and equipment		2,168			2,317			333
Vehicles		190			203			29
Office equipment		813			944			135
Leasehold improvements		352			391			56
Construction in progress		720			313			45

		34,597			38,388			5,514
Accumulated depreciation and impairment		(16,694	)		(20,077	)		(2,884	)

		17,903			18,311			2,630

The Company entered into

nan

leases for certain computer servers and equipment. The gross amount and the accumulated depreciation of these servers and equipment were RMB201 million and RMB201

million

, respectively,

as of December 31

2018, and the

amounts as of December 31, 2019 were not material.

Depreciation expense, including assets under finance leases, for the years ended December 31, 2017, 2018 and 2019, was RMB3.8 billion, RMB3.7 billion and RMB5.6 billion (US$799 million), respectively. Impairment charges on fixed assets for the years ended December 31, 2017, 2018 and 2019 were not material.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

8.	GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company had

two

reporting units, Baidu Core and iQIYI, as of December 31

2018 and 2019.

The changes in the carrying amount of goodwill for each reporting unit from 2018 to 2019 was as follows:


	Baidu Core			iQIYI		Total
	RMB			RMB		RMB
	(In millions)
Balance at December 31, 2017		12,530			3,276		15,806

Goodwill acquired		2,750			612		3,362
Goodwill disposed		(569	)		—		(569	)
Foreign currency translation and other adjustments		(63	)		—		(63	)

Balance at December 31, 2018		14,648			3,888		18,536
Goodwill acquired		978			—		978
Goodwill disposed (i)		(1,265	)		—		(1,265	)
Foreign currency translation and other adjustments		1			—		1
Balance at December 31, 2019		14,362			3,888		18,250

Balance at December 31, 2019, in US$		2,063			558		2,621

(i)

Disposition during the year ended December 31, 2019 was primarily related to the disposal of a subsidiary (Note 4).

Intangible Assets

	As of December 31, 2018
	Gross carrying value		Accumulated impairment			Accumulated amortization			Net carrying value
	RMB		RMB			RMB			RMB
	(In millions)
Land use right		464		(130	)		(69	)		265
Customer relationships		589		—			(476	)		113
Software		693		(7	)		(506	)		180
Trademarks		942		(2	)		(499	)		441
User list		684		(2	)		(679	)		3
Licensed copyrights		18,081		—			(11,324	)		6,757
Others		2,291		(7	)		(862	)		1,422

		23,744		(148	)		(14,415	)		9,181


	As of December 31, 2019
	Gross carrying value		Accumulated impairment			Accumulated amortization			Net carrying value		Net carrying value
	RMB		RMB			RMB			RMB		US$
	(In millions)
Customer relationships		31		—			(31	)		—		—
Software		509		(7	)		(335	)		167		24
Trademarks		658		(2	)		(182	)		474		68
User list		84		(2	)		(79	)		3		—
Licensed copyrights		20,287		—			(14,000	)		6,287		903
Others		2,339		(408	)		(975	)		956		138

		23,908		(419	)		(15,602	)		7,887		1,133

The Company recognized impairment loss on intangible assets excluding licensed copyrights of RMB139 million, RMB5 million and RMB406 million (US$58 million) for the years ended December 31, 2017, 2018 and 2019,

respectively. For impairment charges on licensed copyrights, please refer to Note 2.

Amortization expense of intangible assets were RMB7.9 billion, RMB12.5 billion and RMB13.5 billion (US$1.9 billion), for the years ended December 31, 2017, 2018 and 2019

respectively.

Estimated amortization expense relating to the existing intangible assets with finite lives for each of the next five years is as follows:


	RMB		US$
	(In millions)
For the years ending December 31, 2020		3,943		566
2021		2,036		292
2022		1,044		150
2023		364		52
2024		121		17

The carrying amounts of intangible assets with indefinite useful li

were insignificant as of December 31, 2018 and 2019.

Accounts Payable and Accrued Liabilities

12 Months Ended

Dec. 31, 2019

Payables and Accruals [Abstract]

Accounts Payable and Accrued Liabilities

9.	ACCOUNTS PAYABLE AND ACCRUED LIABILITIES


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Accrued payroll and welfare		1,898		2,407		346
Tax payable		2,342		3,115		447
Interest payable		382		310		45
Users’ and distributors’ deposits		661		641		92
Purchase of fixed assets and computer parts		1,890		1,220		175
Traffic acquisition costs		2,911		2,772		398
Bandwidth costs		2,085		2,492		358
Content acquisition costs		8,873		7,267		1,044
Funds collected on behalf of service providers		353		498		72
Payable to merchants		340		310		45
Accrued other operating expenses		10,680		8,925		1,282
Others		2,966		2,744		394

		35,381		32,701		4,698

Loans Payable

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Loans Payable

10.	LOANS PAYABLE

Short-term Loans

Short-term loans as of December 31, 2018 and 2019 were secured loans borrowed by iQIYI, amounted to RMB3.0 billion and RMB2.6 billion (US$376 million), respectively, which consisted of RMB denominated borrowings from financial institutions in the PRC and were repayable within one year.

Repayment of all short-term loans is guaranteed by the subsidiaries and VIEs of iQIYI and either collateralized by an office building of one of iQIYI’s VIEs with a carrying amount of RMB562 million (US$81 million) as of December 31, 2019 or collateralized by restricted cash balances totaling RMB965 million (US$139 million) as of December 31, 2019.

As of December 31, 2018 and 2019, the weighted average interest rates for the outstanding borrowings were approximately 4.47% and 4.05%, respectively, and the aggregate amounts of unused lines of credit for short-term loans were RMB781

illion and RMB1.6

illion (US$233 million), respectively.

Long-term Loans

Baidu

In June 2016, the Company entered into a five-year term revolving facility agreement with a group of 21 syndicated bankers, pursuant to which the Company is entitled to borrow an unsecured US

denominated floating rate loan of US$1.0 billion with a term of

five years

and to borrow an unsecured US

denominated revolving loan of US$1.0 billion for

five years

. The facility was priced at 110 basis points over LIBOR and is intended for the general working capital of the Company. In June 2016, the Company drew down

two

tranches of US$250 million each under the facility commitment. In November 2016, the Company drew down another

two

tranches of US$250 million each under the facility commitment. In connection with the facility agreements, the Company entered into four interest rate swap agreements, pursuant to which the loans would be settled with a

fixed annual interest rate of 2.11%, 2.10%, 2.78% and 2.78% respectively, during the respective term of the loans.

The interest rate swap agreements met the definition of a derivative in accordance with ASC 815, Derivatives and Hedging (“ASC 815”). The derivatives related to the interest rate swap agreements are accounted for at fair value and included in “Other

non-current

assets” on the consolidated balance sheets.

iQIYI

In April 2017, iQIYI entered into a

three-year

loan agreement with Bank of China, pursuant to which

iQI

is entitled to borrow a secured RMB denominated loan of RMB299 million for the general working capital of iQIYI. In April 2017, iQIYI drew down RMB299 million with an interest rate of 4.47%, pursuant to the agreement, the principal shall be repaid by installments from

2017 to 2020. The repayment of the loan is guaranteed by a subsidiary of iQIYI and collateralized by an office building of one of iQIYI’s VIEs with a carrying amount of RMB562 million (US$81 million) as of December 31, 2019.

RMB25 million was repaid when it became due. As of December 31, 2018 and 2019, the total outstanding borrowings were RMB284 million and RMB274 million (US$39 million), respectively, among which RMB10 million and RMB274 million (US$39

million), respectively, were repayable within one year and were included in “Long-term loans, current portion” balance.

In September 2019, iQIYI entered into a two-year loan agreement with JPMorgan Chase Bank, N.A., pursuant to which iQIYI is entitled to borrow a secured RMB denominated loan of RMB800 million (US$115 million) for the general working capital of iQIYI. In 2019, iQIYI drew down RMB448 million (US$64 million) with an interest rate of 3.55%, pursuant to the agreement, the principal shall be repaid by installments from 2019 to 2021. The repayment of the loan is collateralized by long-term held-to-maturity debt securities with a

stated cost

of RMB494 million (US$71 million). RMB3 million (US$424 thousand) was repaid when it became due in 2019. As of December 31, 2019, the total outstanding borrowings were RMB445 million (US$64 million), among which RMB34 million (US$5 million) was repayable within one year and were included in “Long-term loans, current portion” balance.

In December 2018, certain supplier invoices selected by iQIYI of RMB525 million were factored to a financial institution (“the

2018

factored receivables”) at a discount. These supplier invoices were recorded as accounts payables in the Company’s consolidated balance sheet. The factored receivables were further transferred to a securitization vehicle, whereby debt securities securitized by the factored receivables. The debt securities were issued to third party investors for the gross proceeds of RMB446 million, with maturities in December 2019 and December 2020. The proceeds raised from issuance of the asset-backed debt securities were used by the financial institution to factor the supplier invoices. At the same time, the credit terms of the iQIYI’s corresponding trade payables were extended to mirror the maturity of the asset-backed debt securities, and the effective interest rate was 7.00%.

In November 2019, certain supplier invoices selected by iQIYI of RMB587 million (US$84 million) were factored to a financial institution (the “2019 factored receivables”) at a discount. These supplier invoices were recorded as accounts payables in the Company’s consolidated balance sheets. The 2019 factored receivables were further transferred to a securitization vehicle, whereby debt securities securitized by the 2019 factored receivables. The debt securities were issued to third party investors for the gross proceeds of RMB500 million (US$72 million) and mature in November 2021. The proceeds raised from the issuance of the asset-backed debt securities were used by the financial institutions to factor the supplier invoices. At the same time, the credit terms of

iQIYI

’s corresponding trade payables were extended to mirror the maturity of the asset-backed debt securities, and the effective interest rate was 5.97%.

As of December 31, 2019, the outstanding borrowings from asset-backed debt securities were RMB898 million (US$129 million). RMB75 million (US$11 million) of 2018 asset-backed debt securities was repaid when it became due in December 2019. RMB429 million (US$62 million) of asset-backed debt securities is repayable within one year and are included in “Long-term loans, current portion” and the remaining balance of RMB469 million (US$67 million) of 2019 asset-backed debt securities is included in non-current “Long-term loans” on the

consolidated

balance sheets.

Notes Payable

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Notes Payable

11.	NOTES PAYABLE

Baidu, Inc.

The Company issued and publicly sold unsecured senior notes,

and

the detail of the tranches are shown as flow:


	Issue date		Principal amount (US$ million)		Mature date		Effective interest rate
2017 Notes		November 28, 2012		750		November 28, 2017		2.36	%*
2022 Ten-year Notes		November 28, 2012		750		November 28, 2022		3.59	%
2018 Notes		August 6, 2013		1,000		August 6, 2018		3.39	%*
2019 Notes		June 9, 2014		1,000		June 9, 2019		3.00	%*
2020 Notes		June 30, 2015		750		June 30, 2020		3.13	%
2025 Notes		June 30, 2015		500		June 30, 2025		4.22	%
2022 Five-year Notes		July 6, 2017		900		July 6, 2022		3.08	%
2027 Notes		July 6, 2017		600		July 6, 2027		3.73	%
2023 Notes		March 29, 2018		1,000		September 29, 2023		3.99	%
2028 March Notes		March 29, 2018		500		March 29, 2028		4.50	%
2024 Notes		November 14, 2018		850		May 14, 2024		4.51%/ 4.54	%
2028 November Notes		November 14, 2018		400		November 14, 2028		4.99	%

*	2017 Notes, 2018 Notes and 2019 Notes were fully repaid when they became due.

The

2017 Notes,

2018 Notes, 2019 Notes, 2020 Notes, 2022

Ten-year

Notes, 2025 Notes, 2022 Five-year Notes, 2027 Notes, 2023 Notes, 2028 March Notes, 2024 Notes and 2028 November Notes are collectively referred to as the “Notes

”

The 2017 Notes bear interest at the rate of 2.25% per annum and the 2022

Ten-year

Notes bear interest at the rate of 3.50% per annum. Interest

payable semi-annually in arrears on and of each year, beginning on May 28, 2013.

The 2018 Notes bear interest at the rate of 3.25% per annum. Interest

payable semi-annually in arrears on and of each year, beginning on February 6, 2014.

The 2019 Notes bear interest at the rate of 2.75% per annum. Interest

payable semi-annually in arrears on and of each year, beginning on December 9, 2014.

The 2020 Notes bear interest at the rate of 3.00% per annum and the 2025 Notes bear interest at the rate of 4.13% per annum. Interest

payable semi-annually in arrears on and of each year, beginning on December 30, 2015.

The 2022 Five-year Notes bear interest at the rate of 2.88% per annum and the 2027 Notes bear interest at the rate of 3.63% per annum. Interest

payable semi-annually in arrears on and of each year, beginning on January 6, 2018.

The 2023 Notes bear interest at the rate of 3.88% per annum and the 2028 March Notes bear interest at the rate of 4.38% per annum. Interest

payable semi-annually in arrears on and of each year, beginning on September 29, 2018.

The 2024 Notes including US$600 million issued in November and US$250 million in December 2018, respectively, bear interest at the rate of 4.38% per annum and the 2028 November Notes bear interest at the rate of 4.88% per annum. Interest

payable semi-annually in arrears on and of each year, beginning on May 14, 2019.

At maturity, the Notes are payable at their principal amount plus accrued and unpaid interest thereon.

The Notes do not contain any financial covenants or other significant restrictions. In addition, the Notes are unsecured and rank lower than any secured obligation of the Group and have the same liquidation priority as any other unsecured liabilities of the Group, but senior to those expressly subordinated obligations, if any. The Company may, at its discretion, redeem all or any portion of the Notes at any time, at the greater of the principal amount and the make whole amount plus accrued and unpaid interest. In addition, for

the

2023 Notes, 2028 March Notes, 2024 Notes

and

2028 November Notes, the Company may at its discretion, redeem all or any portion of the Notes at one or three months before the maturity date of

the

respective notes, at a price equal to the greater of 100% of the principal amount of such Notes plus accrued and unpaid interest, if any, to (but not including) the redemption date. As of December 31, 2019, the Company does not intend to redeem any portion of the Notes prior to the stated maturity dates. For certain

of the n

otes, the Company has the obligation to redeem the

otes if a change in control occurs as defined in the indenture of the Notes.

The unpaid Notes were issued at a discount amounting to US$18 million. The total issuance costs of US$30 million were presented as a direct deduction from the principal amount of the Notes on the consolidated balance sheets. Both the discount and the issuance costs are amortized as interest expense using the effective interest rate method through the maturity dates of the Notes.

The principal amount and unamortized discount and debt issuance costs as of December 31, 2018 and 2019 were as follows:


	As of December 31,
	2018			2019			2019
	RMB			RMB			US$
	(In millions)
Principal amount		49,867			43,519			6,251
Unamortized discount and debt issuance costs		(261	)		(210	)		(30	)

		49,606			43,309			6,221

The following table summarizes the aggregate required repayments of the principal amounts of the Company’s long-term debts

(

including the notes payable and loans payable (Note

) but excluding convertible notes (Note 12

)

, in the succeeding five years and thereafter:


	RMB		US$
	(In millions)
For the years ending December 31, 2020		5,987		860
2021		7,902		1,135
2022		11,487		1,650
2023		6,962		1,000
2024		5,918		850
Thereafter		13,924		2,000

Convertible Notes

12 Months Ended

Dec. 31, 2019

Text Block [Abstract]

Convertible Notes

12.	CONVERTIBLE NOTES

iQIYI 2018 Convertible Notes

In January 2017, iQIYI issued US$1.5 billion of convertible notes (the “iQIYI 2018 Convertible Notes”) in a private placement, among which US$300 million was purchased by the Company and the remaining US$1.2 billion was purchased by external investors. The iQIYI 2018 Convertible Notes bear interest at a coupon rate of 1.50% per annum with a maturity date of January 25, 2018. The iQIYI

2018 Convertible

Notes can be converted into preferred shares in a qualified financing or at iQIYI’s election. The conversion option does not meet the definition of a derivative under ASC 815. On October 26, 2017, the US$1.5 billion iQIYI 2018 Convertible Notes and the related accrued interest were converted into 1,014,436,019 iQIYI’s Series G preferred shares. Upon the completion of

iQIYI’s

IPO, all preferred shares were converted into Class A ordinary shares of iQIYI (Note 17).

iQIYI 2023 Convertible Notes

In December 2018, iQIYI issued US$750 million convertible senior notes due 2023 (“iQIYI 2023 Convertible Notes”). The iQIYI 2023 Convertible Notes are senior, unsecured obligations of iQIYI, and interest is payable semi-annually in cash at a rate of 3.75% per annum with a maturity date of December 1, 2023, unless previously repurchased, redeemed or converted prior to such date. The initial conversion rate of the iQIYI 2023 Convertible Notes is 37.1830 of iQIYI’s ADSs per US$1,000 principal amount of the iQIYI 2023 Convertible Notes. Upon conversion,

iQIYI

will pay or deliver to such converting holders, as the case may be, cash, ADSs, or a combination of cash and ADSs, at its election.

Concurrently with the issuance of the iQIYI 2023 Convertible Notes, iQIYI purchased

capped

call option

iQIYI’s

ADS with certain counterparties at a price of US$68 million. The capped call exercise price is equal to the initial conversion price of the iQIYI 2023 Convertible Notes and the cap price is US$38.42 per ADS, subject to certain adjustments under the terms of the capped call transaction. The cost of the capped call was recorded as a reduction of the Company’s additional

paid-in

capital

and non-controlling interests

on the consolidated balance sheets with no subsequent changes in fair value be recorded.

As the conversion option may be settled entirely or partially in cash at iQIYI’s option, the Company separated the iQIYI 2023 Convertible Notes into liability and equity components in accordance with ASC

470-20,

Debt

with Conversion and Other Options

. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated conversion feature. The carrying amount of the equity component representing the conversion option was determined by deducting the fair value

of the liability component from the initial proceeds and recorded as additional

paid-in

capital. Debt issuance costs were allocated to the liability and equity components based on the same proportion as the recognized amounts bifurcated based on gross proceeds from the iQIYI 2023 Convertible Notes. The difference between the principal amount of the iQIYI 2023 Convertible Notes and the liability component is considered debt discount and is amortized at an effective interest rate of 7.04%

to accrete the discounted carrying value of the iQIYI 2023 Convertible Notes to its face value on December 1, 2021, the put date of the iQIYI 2023 Convertible Notes. The holders may require iQIYI to repurchase all or portion of

the iQIYI 2023 Convertible

Notes for cash on December 1, 2021, or upon a fundamental change, at a repurchase price equal to 100% of the principal amount, plus accrued and unpaid interest.

iQIYI 2025 Convertible Notes

In March 2019, iQIYI issued US$1.2 billion convertible senior notes due 2025 (“iQIYI 2025 Convertible Notes”). The iQIYI 2025 Convertible Notes are senior, unsecured obligations of iQIYI, and interest is payable semi-annually in cash at a rate of 2.00% per annum with a maturity date of April 1, 2025, unless previously repurchased, redeemed or converted prior to such date.

The initial conversion rate of the iQIYI 2025 Convertible Notes is 33.0003 of iQIYI’s ADSs per US$1,000 principal amount of the iQIYI 2025 Convertible Notes. Upon conversion, iQIYI will pay or deliver to such converting holders, as the case may be, cash, ADSs, or a combination of cash and ADSs, at its election.

Concurrently with the issuance of the iQIYI 2025 Convertible Notes, iQIYI purchased

capped

call option

iQIYI’s

ADS with certain counterparties at a price of US$85 million. The capped call exercise price is equal to the initial conversion price of the iQIYI 2025 Convertible Notes and the cap price is US$40.02 per ADS, subject to certain adjustments under the terms of the capped call transaction. The cost of the capped call was recorded as a reduction of the Company’s additional

paid-in

capital

and non-controlling

interests

on the consolidated balance sheets with no subsequent changes in fair value be recorded.

The accounting of iQIYI 2025 Convertible Notes is similar to that of iQIYI 2023 Convertible Notes.

The difference between the principal amount of the

iQIYI 2025 Convertible

Notes and the liability component is considered debt discount and is amortized at an effective interest rate of 6.01% to accrete the discounted carrying value of the

iQIYI 2025 Convertible

Notes to its face value on

April 1, 2023

, the put date of the Notes.

The holders may require iQIYI to repurchase all or portion of

the iQIYI 2025 Convertible

Notes for cash on April 1, 2023, or upon a fundamental change, at a repurchase price equal to 100% of the principal amount, plus accrued and unpaid interest.

The

iQIYI

2023 Convertible Notes and the

iQIYI

2025 Convertible Notes are collectively referred to the Convertible Notes.

As of December 31,

2018 and

2019, the principal amount of the liability component

of the Convertible Notes were

RMB5.2 billion

and RMB13.6 billion

(US$2.0 billion), unamortized debt discount

were

RMB446

millio

and RMB1.3

illion

(US$184 million), and

the

net carrying amount of the liability component

RMB4.7 billion

and RMB

12.3 billion

(US$1.8 billion), respectively.

The carrying amount of the equity component

of the Notes were

RMB362 million

and RMB1.3 billion

(US$194 million)

respectively. For the

years ended December 31, 2018 and 2019, the amount of interest cost recognized relating to both the contractual interest coupon and amortization of the discount on the liability component were RMB24 million and RMB670 million (US$96 million), respectively. As of December 31, 2019, the

liability component

of the

iQIYI

2023

Convertible

Notes and the

iQIYI

2025

Convertible

Notes

will be accreted up to the principal amount of US$750

million and US$1.2

illion

over a remaining period of 1.92 years

and 3.25 years, respectively

The aggregate scheduled maturities of RMB5.2 billion (US$750 million) and RMB8.4 billion (US$1.2 billion)

of the Convertible Notes will be repaid when they become due in 2023 and 2025, respectively, assuming no

conversion or redemption of the Convertible Notes prior to maturity, all convertible note holders hold the Convertible Notes to maturity and iQIYI elects to pay the amounts owed in cash.

Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

13.

LEASES

Leases are classified as operating leases or finance leases in accordance with

ASC 842

The Company’s operating leases mainly related to land, office facilities, IDC facilities and vehicles. For leases with terms greater

than 12 months,

the Company records the related asset and lease liability at the present value of lease payments over the term. Certain leases include rental escalation clauses, renewal options and/or termination options, which are factored into the Company’s determination of lease payments when appropriate. As of

December 31, 2019, finance leases were insignificant.

As of December 31, 2019, the weighted

average remaining lease term was 6.3 years and weighted average discount rate was 4.45

% for the Group’s operating leases.

Operating lease

cost for the year ended December 31, 2019 w

RMB

2.7 billion (US$382 million), which excluded cost of short-term contracts. Short-term lease cost for the year ended December 31, 2019 w

RMB434 million (US$62 million). Variable lease cost w

immaterial for the year ended December 31, 2019.

For the year ended December 31, 2019, no lease cost for operating or finance leases was capitalized.

Supplemental cash flow information related to operating leases w

as follows:


	For the year ended December 31, 2019
	RMB		US$
	(In millions)
Cash payments for operating leases		2,631		378
ROU assets obtained in exchange for operating lease liabilities		3,896		560

Future lease payments under operating leases as of December 31, 2019 were as follows:


	Operating leases
	RMB		US$
	(In millions)
Year ending December 31,
2020		2,350		337
2021		1,705		245
2022		1,307		188
2023		1,080		155
2024		628		90
Thereafter		395		57

Total future lease payments		7,465		1,072
Less: Imputed interest		696		100

Total lease liability balance		6,769		972

As of December 31, 2019, additional operating leases that have not yet commenced were immaterial.

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

14.	INCOME TAXES

Cayman Islands and BVI

Under the current laws of the Cayman Islands and BVI, the Company is not subject to tax on income or capital gains. Additionally, upon payment of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed.

Hong Kong

Subsidiaries in Hong Kong are subject to Hong Kong Profits Tax rate at 16.5%

, and foreign-derived income is exempted from income tax. There are no withholding taxes in Hong Kong on remittance

dividends.

Japan

As a result of the Japanese tax regulations amendments, the effective income tax rate are approximately 32%, 31% and 31% for the years ended December 31, 2017, 2018 and 2019, respectively.

China

Effective from January 1, 2008, the PRC’s statutory, Enterprise Income Tax (“EIT”) rate is 25%. Preferential EIT rates at 15% and 10% are available for qualified “High and New Technology Enterprises” (“HNTEs”) and “Key Software Enterprise” (“KSE”), respectively. The HNTE certificate is effective for a period of

three years

and the KSE is subject to relevant governmental authorities’ annual assessment based on self-assessment supporting documents filed with the tax authorities each year.

Baidu Online, Baidu China and Baidu International enjoyed a reduced tax rate of 10% as qualified KSEs in 2017

and 2018

. Certain other PRC subsidiaries and VIEs, including Baidu Netcom, are qualified HNTEs and enjoy a

reduced tax rate of 15% for the years presented, which will expire in 2020, 2021 and 2022.

Certain entities must

file required supporting documents with the tax authorities before using the preferential rates. Whether the entity is entitled to enjoy a preferential rate as a KSE is subject to relevant governmental authorities’ assessment each year. An entity could

re-apply

for the HNTE certificate when the prior certificate expires. Historically, all of the Company’s subsidiaries and VIEs successfully

re-applied

for the certificates when the prior ones expired.

A certificate for the current year might be obtained in the following year as a result of the stringent inspection and approval process by the governmental authorities. The Company would record an income tax reversal in the year when the certificate is obtained for the over-paid or over-accrued provisional tax in connection with the grant of a more favorable tax rate for the prior year.

Under the current EIT Law, dividends for earnings derived from January 1, 2008 and onwards paid by PRC entities to any of their foreign

non-resident

enterprise investors are subject to a 10% withholding tax. A lower tax rate will be applied if tax treaty or arrangement benefits are available. Under the tax arrangement between the PRC and Hong Kong, the reduced withholding tax rate for dividends paid by PRC entities is 5% provided the Hong Kong investors meet the requirements as stipulated by relevant PRC tax regulations, such as the beneficiary owner test. Capital gains derived from PRC are also subject to a 10% PRC withholding tax.

Income (loss) before income taxes consists of:


	For the years ended December 31,
	2017			2018		2019			2019
	RMB			RMB		RMB			US$
	(In millions)
PRC		22,088			23,524		13,076			1,878
Non-PRC		(805	)		3,801		(13,416	)		(1,927	)

		21,283			27,325		(340	)		(49	)

Except for the investment related gain recognized, the

pre-tax

losses from

non-PRC

operations consist primarily of operating costs, administration expenses, interest expenses and share-based compensation expenses.

Income taxes consist of:


	For the years ended December 31,
	2017			2018			2019			2019
	RMB			RMB			RMB			US$
	(In millions)
Current income tax		4,224			6,184			3,564			511
Income tax refund due to reduced tax rate		(473	)		(680	)		(920	)		(132	)
Adjustments of deferred tax assets due to change in tax rates		7			—			9			1
Deferred income tax benefit		(763	)		(761	)		(705	)		(101	)

		2,995			4,743			1,948			279

The reconciliation of the actual income taxes to the amount of tax computed by applying the aforementioned statutory income tax rate to

pre-tax

income is as follows:


	For the years ended December 31,
	2017			2018			2019			2019
	RMB			RMB			RMB			US$
	(In millions, except for per share data)
Expected taxation at PRC statutory tax rate		5,321			6,831			(85	)		(12	)
Effect of differing tax rates in different jurisdictions		854			493			3,299			474
Non-taxable income		(913	)		(1,555	)		(419	)		(60	)
Non-deductible expenses		653			935			2,124			305
Research and development super-deduction		(905	)		(1,047	)		(1,245	)		(179	)
Effect of PRC preferential tax rates and tax holiday		(2,095	)		(2,250	)		(1,327	)		(191	)
Effect of tax rate changes on deferred taxes		7			—			9			1
Reversal of prior year’s EIT		(579	)		(616	)		(1,134	)		(163	)
PRC withholding tax		101			553			(224	)		(32	)
Addition to valuation allowance		551			1,399			950			136

Taxation for the year		2,995			4,743			1,948			279

Effective tax rate		14%			17%			(573%	)		(573%	)

Effect of preferential tax rates inside the PRC on basic earnings per Class A and Class B ordinary share		60.33			64.47			38.09			5.47

The tax effects of temporary differences that gave rise to the deferred tax balances at December 31, 2018 and 2019 are as follows:


	As of December 31,
	2018			2019			2019
	RMB			RMB			US$
	(In millions)
Deferred tax assets:
Provision for doubtful receivables		252			332			48
Accrued expenses, payroll and others		4,284			4,820			692
Fixed assets depreciation		60			151			22
Net operating loss carry-forward		1,609			1,733			249
Less: valuation allowance		(3,881	)		(4,843	)		(696	)

Deferred tax assets, net		2,324			2,193			315


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Deferred tax liabilities:
Long-lived assets arising from acquisitions		360		275		40
Withholding tax on PRC subsidiaries’ undistributed earnings		619		1,621		233
Tax on capital gains		2,778		1,159		166
Other		342		218		31

		4,099		3,273		470

As of December 31, 2019, the Company had tax losses of approximately RMB9.9 billion (US$1.4 billion) deriving from entities in the PRC, Hong Kong and Japan. The tax losses in Japan can be carried forward for

nine years

to offset future taxable profit. The tax losses in PRC can be carried forward for

five years

to offset future taxable profit, and the period was extended to 10 years for entities qualified as HNTE in 2019 and thereafter.

The tax losses of entities in the PRC and Japan will expire from

2020

to 2029. The tax losses in Hong Kong can be carried forward with no expiration date.

The Company evaluated its income tax uncertainty under ASC 740. ASC 740 clarifies the accounting for uncertainty in income taxes by prescribing the recognition threshold a tax position is required to meet before being recognized in the financial statements. The Company elects to classify interest and penalties related to an uncertain tax position, if and when required, as part of income tax expense in the consolidated statements of comprehensive income

(loss)

. As of and for the years ended December 31, 2018 and 2019, there

were

no significant impact from tax uncertaint

ies

on the Company’s financial position and result of operations. The Company does not expect the amount of unrecognized tax benefits

increase significantly in the next 12 months. In general, the PRC tax authorities have up to

five years

to conduct examinations of the tax filings of the Company’s PRC subsidiaries. Accordingly, the PRC subsidiaries’ tax years of 2014 through

2019

remain open to examination by the respective tax authorities. The Company may also be subject to the examination of the tax filings in other jurisdictions, which are not material to the consolidated financial statements.

In 2013, the Company accrued RMB581 million of

withholding

tax for the potential remittance of earnings from the PRC subsidiaries to their offshore parent companies in the form of dividend distribution, because the Company believes that the underlying dividends will be distributed in the future considering future merger and

acquisition activities. In 2019, the Company accrued RMB1.0 billion of withholding tax for the potential remittance of earnings from the PRC subsidiaries to their offshore parent companies in the form of dividend distribution. The Company did not provide for additional deferred income taxes and foreign withholding taxes on the undistributed earnings of foreign subsidiaries during the years presented on the basis of its intent to permanently reinvest its foreign subsidiaries’ earnings. As of December 31

2019, the total amount of undistributed earnings from the PRC subsidiaries and the VIEs for which no withholding tax has been accrued was RMB145.9 billion (US$21.0 billion). Determination of the amount of unrecognized deferred tax liability related to these earnings is not practicable. Under the PRC tax regulations, dividends from PRC companies to their overseas parents on earnings derived from January 1, 2008 onwards are subject to PRC dividend withholding tax at 10%. Such rate could be reduced to 5% with applicable treaty.

Employee Defined Contribution Plan

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Employee Defined Contribution Plan

15.	EMPLOYEE DEFINED CONTRIBUTION PLAN

Full time employees of the

Group

in the PRC participate in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the Group make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The

Group

has no legal obligation for the benefits beyond the contributions.

otal amounts for such employee benefits, which were expensed as incurred, were RMB2.6 billion, RMB2.9 billion and RMB3.2 billion (US$464 million) for the years ended December 31, 2017, 2018 and 2019, respectively.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

16.	COMMITMENTS AND CONTINGENCIES

Capital Commitments

The

Group’s

capital commitments primarily relate to commitments in connection with the expansion and improvement of its network infrastructure and its plan to build additional office buildings and cloud computing

based data centers. Total capital commitments contracted but not yet reflected in the financial statements amounted to RMB

560

million (US$

million) as of December

2019

Almost all

of the commitments relating to the network infrastructure

office building and cloud computing based data centers

are to be fulfilled within one year.

Commitments for bandwidth and property management fees

Future minimum payments under

non-cancelable

agreements for bandwidth and property management fees

consist of the following as of December 31, 2019:


	RMB		US$
	(In millions)
2020		652		94
2021		109		16
2022		77		11
2023		65		9
2024		63		9
Thereafter		63		9

		1,029		148

Upon the adoption of ASC 842 on January 1, 2019, future minimum lease payments for operating lease commitments as of December 31, 2019 are disclosed in Note 13.

Licensed Copyrights and Produced Content Commitments

Future minimum payments under

non-cancelable

agreements for licensed copyrights and produced content consist of the following as of December 31, 2019:


	RMB		US$
	(In millions)
2020		8,935		1,284
2021		6,496		933
2022		4,246		610
2023		1,534		220
2024		774		111
Thereafter		315		45

		22,300		3,203

Investment Commitments

The

Group’s

investment commitments primarily relate to capital contributions obligation under certain arrangements

which do not have contractual maturity date.

The total investment commitments contracted but not yet reflected in the financial statements amounted to RMB1.3 billion (US$183 million).

Guarantees

The

Group

accounts for guarantees in accordance with ASC Topic 460,

Guarantees

(“ASC 460”)

Accordingly, the Company evaluates its guarantees if any to determine whether (a) the guarantee is specifically excluded from the scope of ASC 460, (b) the guarantee is subject to ASC 460 disclosure requirements only, but not subject to the initial recognition and measurement provisions, or (c) the guarantee is required to be recorded in the financial statements at fair value.

The corporate

by-laws

require that the Company indemnify its officers and directors, as well as those who act as directors and officers of other entities at the Company’s request, against expenses, judgments, fines, settlements and other amounts actually and reasonably incurred in connection with any proceedings arising out of their services to the Company. In addition, the Company entered into separate indemnification agreements with each director and each executive officer of the Company that provide for indemnification of these directors and officers under similar circumstances and under additional circumstances. The indemnification obligations are more fully described in the

by-laws

and the indemnification agreements. The Company purchases standard directors and officers insurance to cover claims or a portion of the claims made against its directors and officers. Since a maximum obligation is not explicitly stated in the Company’s

by-laws

or in the indemnification agreements and will depend on the facts and circumstances that arise out of any future claims, the overall maximum amount of the obligations cannot be reasonably estimated.

Historically, the Company was not required to make payments related to these obligations, and the fair value for these obligations was

nil

on the consolidated balance sheets as of December 31, 2018 and 2019.

Litigation

The Group was involved in certain cases pending in various PRC, Japan, U.S. and Brazil courts and arbitration as of December 31, 2019. These cases include copyright infringement cases, unfair competition cases, and

defamation cases, among others. Adverse results in these lawsuits may include awards of damages and may also result in, or even compel, a change in the Company’s business practices, which could result in a loss of revenue or otherwise harm the business of the Company.

For many proceedings, the Company is currently unable to estimate the reasonably possible loss or a range of reasonably possible losses as the proceedings are in the early stages, and/or there is a lack of clear or consistent interpretation of laws specific to the industry-specific complaints among different jurisdictions. As a result, there is considerable uncertainty regarding the timing or ultimate resolution of such matters, which includes eventual loss, fine, penalty or business impact, if any, and therefore, an estimate for the reasonably possible loss or a range of reasonably possible losses cannot be made. However, the Company believes that such matters, individually and in the aggregate, when finally resolved, are not reasonably likely to have a material adverse effect on the Company’s consolidated results of operations, financial position and cash flows. With respect to the limited number of proceedings for which the Company was able to estimate the reasonably possible losses or the range of reasonably possible losses, such loss estimates were insignificant.

Redeemable Noncontrolling Interests

12 Months Ended

Dec. 31, 2019

Temporary Equity Disclosure [Abstract]

Redeemable Noncontrolling Interests

17.	REDEEMABLE NONCONTROLLING INTERESTS


	2017			2018			2019		2019
	RMB			RMB			RMB		US$
	(In millions)
Balance as of January 1		5,492			11,022			716		104
Business combination (Note 3)		—			698			182		26
Other comprehensive (loss)		(335	)		—			—		—
Issuance of subsidiary shares		—			—			100		14
Disposal of subsidiary shares		(2,376	)		—			—		—
Accretion of redeemable noncontrolling interests		(17	)		146			111		15
Conversion of convertible notes of iQIYI		8,258			—			—		—
Conversion of iQIYI preferred shares recognized as redeemable noncontrolling interests to ordinary shares		—			(11,150	)		—		—

Balance as of December 31		11,022			716			1,109		159

In November 2014, iQIYI completed a round of preferred shares financing with US$300 million from the external preferred shareholders. In October 2017, the US$1.2 billion iQIYI 2018 Convertible Notes (Note 12) plus related interest purchased by external investors was converted to iQIYI’s new round preferred shares. As the preferred shares could be redeemed by such shareholders upon the occurrence of certain events that are not solely within the control of iQIYI, these preferred shares

were

accounted for as redeemable noncontrolling interests. Upon completion of the IPO of iQIYI, all preferred shares of iQIYI held by external preferred shareholders were automatically

re-designated

and converted on a

one-for-one

basis into Class A ordinary shares of iQIYI.

In October 2015, Xiaodu issued 250,000,000 preferred shares to certain shareholders for a total consideration of US$250 million. In May 2016, Xiaodu issued an additional 42,105,264 preferred shares to certain other shareholders for a total consideration of US$100 million. As the preferred shares could be redeemed by such shareholders upon the occurrence of certain events that are not solely within the control of Xiaodu, these preferred shares were accounted for as redeemable noncontrolling interests. In August 2017, the Company completed the disposal of Xiaodu to Rajax Holding in exchange for its equity shares.

In October 2018, the Company acquired additional shares of a former equity method investee, resulting in the investee becoming a subsidiary of the Company. The subsidiary had issued 159,820,917 outstanding preferred

shares to certain shareholders, which could be redeemed by such shareholders upon the occurrence of certain events that are not solely within the control of the subsidiary. Therefore, these preferred

were accounted for as redeemable noncontrolling interests (Note 3).

The Company accounts for the changes in accretion to the redemption value in accordance with ASC Topic 480,

Distinguishing Liabilities from Equity.

The Company elects to use the effective interest method to account for the changes of redemption value over the period from the date of issuance to the earliest redemption date of the noncontrolling interest.

Shareholders' Equity

12 Months Ended

Dec. 31, 2019

Equity Abstract

Shareholders' Equity

18.	SHAREHOLDERS’ EQUITY

Ordinary Shares

The authorized share capital consisted of 870,400,000 ordinary shares at a par value of US$0.00005 per share, of which 825,000,000 shares were designated as Class A ordinary shares, 35,400,000 as Class B ordinary shares,

and 10,000,000 shares designated as preferred shares. The rights of the holders of Class A and Class B ordinary shares are identical, except with respect to voting and conversion rights. Each share of Class A ordinary shares is entitled to one vote per share and is not convertible into Class B ordinary shares under any circumstances. Each share of Class B ordinary shares is entitled to ten votes per share and is convertible into one Class A ordinary share at any time by the holder thereof. Upon any transfer of Class B ordinary shares by the holder thereof to any person or entity that is not an affiliate of such holder, such Class B ordinary shares would be automatically converted into an equal number of Class A ordinary shares. The number of Class B ordinary shares transferred to Class A ordinary shares was 200,000 shares,

nil

and

nil

in the years ended December 31, 2017, 2018 and 2019, respectively.

As of December 31, 2019, there were 27,381,621 and 7,201,254 Class A and Class B ordinary shares outstanding, respectively. As of December 31, 2018 and 2019, there were

preferred shares issued and outstanding.

On October 29, 2015, the Company announced a share repurchase program under which the Company proposed to acquire up to an aggregate of US$2.0 billion of its shares over the next 24 months. On June 27, 2018, the Company announced a share repurchase program under which the Company proposed to acquire up to an aggregate of US$1.0 billion of its ordinary shares over the next 12 months in the open market or through privately negotiated transactions, depending on market conditions and in accordance with applicable rules and regulations.

On May 16, 2019, the Company announced a share repurchase program under which the Company proposed to acquire up to an aggregate of US$1.0 billion of its ordinary shares, effective until July 1, 2020 in the open market or through privately negotiated transactions, depending on market conditions and in accordance with applicable rules and regulations.

The Company repurchased 145,783, 207,165 and 664,534 Class A ordinary shares from the open market with an aggregate purchase price of RMB1.7 billion, RMB3.3 billion and RMB5.0 billion (US$712 million) during the years ended December 31, 2017, 2018 and 2019. The repurchased shares were cancelled under Cayman Islands law upon repurchase and the difference between the par value and the repurchase price was debited to retained earnings.

Retained Earnings

In accordance with the Regulations on Enterprises with Foreign Investment of China and their articles of association, the Company’s PRC subsidiaries, being foreign invested enterprises established in China, are required to make appropriations to certain statutory reserves, namely a general reserve fund, an enterprise expansion fund, a staff welfare fund and a bonus fund, all of which are appropriated from net profit as reported in their PRC statutory accounts. Each of the Company’s PRC subsidiaries is required to allocate at least 10% of its

after-tax

profits to a general reserve fund until such fund has reached 50% of its respective registered capital. Appropriations to the enterprise expansion fund and staff welfare and bonus funds are at the discretion of the Company’s subsidiaries.

In accordance with the China Company Laws, the Company’s VIEs must make appropriations from their

after-tax

profits as reported in their PRC statutory accounts to

non-distributable

reserve funds, namely a statutory surplus fund, a statutory public welfare fund and a discretionary surplus fund. Each of the Company’s VIEs is required to allocate at least 10% of its

after-tax

profits to the statutory surplus fund until such fund has reached 50% of its respective registered capital. Appropriations to the statutory public welfare fund and the discretionary surplus fund are made at the discretion of the Company’s VIEs.

General reserve and statutory surplus funds are restricted to

set-off

against losses, expansion of production and operation and increasing registered capital of the respective company. Staff welfare and bonus fund and statutory public welfare funds are restricted to capital expenditures for the collective welfare of employees. The reserves are not allowed to be transferred to the Company in terms of cash dividends, loans or advances, nor are they allowed for distribution except under liquidation.


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
PRC statutory reserve funds		515		626		90
Unreserved retained earnings		128,731		125,642		18,047

Total retained earnings		129,246		126,268		18,137

Under PRC laws and regulations, there are restrictions on the Company’s PRC subsidiaries and VIEs with respect to transferring certain of their net assets to the Company either in the form of dividends, loans, or advances. Amounts of net assets restricted include paid in capital and statutory reserve funds of the Company’s PRC subsidiaries and the net assets of the VIEs in which the Company has no legal ownership, totaling RMB25.7 billion and RMB40.8 billion (US$5.9 billion) as of December 31, 2018 and 2019, respectively.

Furthermore, cash transfers from the Company’s PRC subsidiaries to their parent companies outside of China are subject to PRC government control of currency conversion. Shortages in the availability of foreign currency may restrict the ability of the PRC subsidiaries and consolidated affiliated entities to remit sufficient foreign currency to pay dividends or other payments to the Company, or otherwise satisfy their foreign currency denominated obligations.

Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component, net of tax, were as follows:


	Foreign currency translation adjustment			Unrealized gains on available-for- sale investments			Total
	RMB			RMB			RMB
	(In millions)
Balance at December 31, 2016		(2,026	)		243			(1,783	)

Other comprehensive income before reclassification		732			2,574			3,306
Amounts reclassified from accumulated other comprehensive income		71			(999	)		(928	)

Net current-period other comprehensive income		803			1,575			2,378
Other comprehensive loss attribute to noncontrolling interests and redeemable noncontrolling interests		335			—			335

Balance at December 31, 2017		(888	)		1,818			930

Cumulative effect of accounting change *		—			(1,854	)		(1,854	)
Other comprehensive income before reclassification		114			4,117			4,231
Amounts reclassified from accumulated other comprehensive income		80			(2,171	)		(2,091	)

Net current-period other comprehensive income		194			92			286
Other comprehensive income attribute to noncontrolling interests and redeemable noncontrolling interests		(1,006	)		—			(1,006	)

Balance at December 31, 2018		(1,700	)		1,910			210

Other comprehensive income (loss) before reclassification		207			1,981			2,188
Amounts reclassified from accumulated other comprehensive income (loss)		(989	)		(2,689	)		(3,678	)
Net current-period other comprehensive income (loss)		(782	)		(708	)		(1,490	)
Other comprehensive loss (income) attribute to noncontrolling interests and redeemable noncontrolling interests		(102	)		(1	)		(103	)
Balance at December 31, 2019		(2,584	)		1,201			(1,383	)

Balance at December 31, 2019, in US$		(372	)		173			(199	)

*	Adjustment of net unrealized gains related to available-for-sale equity investments from accumulated other comprehensive income to opening retained earnings as a result of the adoption of ASC 321 on January 1, 2018.

The amounts reclassified out of accumulated other comprehensive income represent realized foreign currency translation adjustments, which mainly arising from disposal of partial interests in Trip, and gains on the

available-for-sale

investments upon their sales, which were then recorded in “Other income, net” in the consolidated statements of comprehensive income. The amounts reclassified were determined on the basis of specific identification.

In October 2019, the Company completed the partial disposal of its investment in Trip and the corresponding accumulated other

comprehensive

income of RMB989 million (US$ 142 million) was reclassified to earnings.

The following table sets forth the tax

benefit (expense

)

allocated to each component of other comprehensive income (loss) for the years ended December 31, 2017, 2018 and 2019:


	For the years ended December 31,
	2017			2018			2019			2019
	RMB			RMB			RMB			US$
	(In millions)
Unrealized gains on available-for-sale investments
Other comprehensive income (loss) before reclassification		(215	)		(409	)		(280	)		(40	)
Amounts reclassified from accumulated other comprehensive income (loss)		163			328			402			58

Net current-period other comprehensive income (loss)		(52	)		(81	)		122			18

Earnings Per Share ("EPS")

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share ("EPS")

19.	EARNINGS PER SHARE (“EPS”)

A reconciliation of net income attributable to Baidu, Inc. in the consolidated statements of comprehensive income to the numerator for the computation of basic and diluted per share for the years ended December 31, 2017, 2018 and 2019 is as follows:


	For the years ended December 31,
	2017		2018			2019			2019
	RMB		RMB			RMB			US$
	(In millions)
Net income attributable to Baidu, Inc.		18,301		27,573			2,057			296
Accretion of the redeemable noncontrolling interests		17		(130	)		(77	)		(11	)
Numerator for basic EPS computation		18,318		27,443			1,980			285
Impact of subsidiaries’ and investees’ diluted earnings per share		—		—			(28	)		(4	)
Numerator for diluted EPS computation		18,318		27,443			1,952			281

The following table sets forth the computation of basic and diluted earnings per Class A and Class B ordinary share.


	For the years ended December 31,
	2017				2018				2019				2019
	Class A		Class B		Class A		Class B		Class A		Class A		Class B		Class B
	RMB		RMB		RMB		RMB		RMB		US$		RMB		US$
	(In millions, except for number of shares, per share and per ADS data)
Earnings per share – basic:
Numerator
Allocation of net income attributable to Baidu, Inc.		14,488		3,830		21,780		5,663		1,571		226		409		59
Denominator

Weighted average ordinary shares outstanding		27,464,760		7,260,363		27,697,335		7,201,254		27,633,243		27,633,243		7,201,254		7,201,254

Denominator used for basic EPS		27,464,760		7,260,363		27,697,335		7,201,254		27,633,243		27,633,243		7,201,254		7,201,254

Earnings per share – basic		527.51		527.51		786.36		786.36		56.84		8.16		56.84		8.16

Earnings per share – diluted:
Numerator
Allocation of net income attributable to Baidu, Inc. for diluted computation		14,513		3,805		21,824		5,619		1,549		223		403		58
Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares		3,805		—		5,619		—		403		58		—		—

Numerator for diluted EPS calculation		18,318		3,805		27,443		5,619		1,952		281		403		58
Denominator
Weighted average ordinary shares outstanding		27,464,760		7,260,363		27,697,335		7,201,254		27,633,243		27,633,243		7,201,254		7,201,254
Conversion of Class B to Class A ordinary shares		7,260,363		—		7,201,254		—		7,201,254		7,201,254		—		—
Share-based awards		227,268		—		272,454		—		50,357		50,357		—		—

Denominator used for diluted EPS		34,952,391		7,260,363		35,171,043		7,201,254		34,884,854		34,884,854		7,201,254		7,201,254

Earnings per share – diluted		524.08		524.08		780.27		780.27		55.96		8.04		55.96		8.04

Earnings per ADS:
Denominator used for earnings per ADS – basic		274,647,600				276,973,350				276,332,430		276,332,430
Denominator used for earnings per ADS – diluted		349,523,907				351,710,430				348,848,540		348,848,540
Earnings per ADS – basic		52.75				78.64				5.68		0.82

Earnings per ADS – diluted		52.41				78.03				5.60		0.80

The Company did not include certain stock options, restricted shares and the effect of convertible senior notes in the computation of diluted earnings per share for the years ended December 31, 2017, 2018 and 2019 because those stock options

restricted shares

and convertible senior notes

were anti-dilutive for earnings per share for the respective years.

Share-Based Awards Plan

12 Months Ended

Dec. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Awards Plan

20.	SHARE-BASED AWARDS PLAN

Baidu, Inc.

2008 Share Incentive plan

In December 2008, the Company adopted a share incentive plan (the “2008 Plan”), which provides for the granting of share incentives, including incentive share options (“ISOs”), restricted shares and any other form of

award pursuant to the 2008 Plan, to members of the board, employees, consultants and

non-employees

of the Company. The Company reserved 3,428,777 ordinary shares for issuance under the 2008 Plan, which expired in the year 2018. The vesting schedule, time and condition to exercise options was determined by the compensation committee. The term of the options may not exceed ten years from the date of the grant, except that five years is the maximum term of an ISO granted to an employee who holds more than 10% of the voting power of the Company’s share capital.

Under the 2008 Plan, the exercise price of an option may be amended or adjusted at the discretion of the compensation committee, the determination of which would be final, binding and conclusive. To the extent not prohibited by applicable laws or exchange rules, a downward adjustment of the exercise prices would be effective without the approval of the Company’s shareholders or the approval of the affected grantees. If the Company grants an ISO to an employee who, at the time of that grant, owns shares representing more than 10% of the voting power of all classes of the Company’s share capital, the exercise price cannot be less than 110% of the fair market value of the Company’s ordinary shares on the date of that grant.

2018 Share Incentive Plan

In July 2018, the Company adopted a share incentive plan (the “2018 Plan”), which provides for the granting of share incentives, including ISOs, restricted shares and any other form of award pursuant to the 2018 Plan, to members of the board, employees, consultants, and

non-employees

of the Company. The 2018 Plan has a

ten-year

term and a maximum number of 3,443,950 Class A ordinary shares available for issuance pursuant to all awards under the 2018 Plan.

Under the 2018 Plan, the exercise price of an option may be amended or adjusted at the discretion of the compensation committee, the determination of which would be final, binding and conclusive. To the extent not prohibited by applicable laws or exchange rules, a downward adjustment of the exercise prices would be effective without the approval of the Company’s shareholders or the approval of the affected grantees. If the Company grants an ISO to an employee who, at the time of that grant, owns shares representing more than 10% of the voting power of all classes of the Company’s share capital, the exercise price cannot be less than 110% of the fair

market

value of the Company’s ordinary shares on the date of that grant.

Share options

The following table summarizes the option activity for the year ended December 31, 2019:


	Number of shares			Weighted average exercise price (US$)		Weighted average remaining contractual life (Years)		Aggregate intrinsic value (US$ in millions)
Share options
Outstanding, December 31, 2018		225,684			1,751		7		40
Granted		231,152			980
Exercised		(11,849	)		221
Forfeited/Cancelled		(71,806	)		1,715

Outstanding, December 31, 2019		373,181			1,329		8		72

Vested and expected to vest at December 31, 2019		297,956			1,373		8		53

Exercisable at December 31, 2019		122,933			1,777		5		7

The aggregate intrinsic value in the table above represents the difference between the Company’s closing stock price on the last trading day in 2019 and the exercise price.

Total intrinsic value of options exercised for the years ended December 31, 2017, 2018 and 2019 was RMB403 million, RMB474 million and RMB77 million (US$11 million), respectively. The total fair value of options vested during the years ended December 31, 2017, 2018 and 2019 was RMB195 million, RMB956 million and RMB216 million (US$31 million), respectively.

Share options are usually subject to vesting schedules

rang

ing from two to four years. As of December 31, 2019, RMB439 million (US$63 million) of unrecognized share-based compensation cost related to share options is expected to be recognized over a weighted-average vesting period of 2.6 years. To the extent the actual forfeiture rate is different from the original estimate, actual share-based compensation costs related to these awards may be different from expectation.

The fair value of each option award was estimated on the date of grant using the Black-Scholes-Merton valuation model. The volatility assumption was estimated based on historical volatility of the Company’s share price applying the guidance provided by ASC 718. Assumptions of the expected term were based on the vesting and contractual terms and employee demographics. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant.

The following table presents the assumptions used to estimate the fair values of the share options granted in the years presented:


	For the years ended December 31
	2017			2018			2019
Risk-free interest rate		1.81%~2.08	%		2.57	%		1.58%~2.49	%
Dividend yield		—			—			—
Expected volatility range		35.99%~38.41	%		34.47%~35.36	%		34.62%~35.14	%
Expected life (in years)		4.99~6.01			4.89~6.25			5.83~6.03

In addition, the Company recognizes share-based compensation expense net of estimated forfeiture rate

, to recognize compensation cost for shares expected to vest over the service period of the award. Estimated forfeiture rate

are

primarily based on historical experience of employee turnover. To the extent the Company revises this estimate in the future, share-based

comp

ensation expense

could be materially impacted in the year of revision, as well as in the following years.

The exercise price of options granted during the years ended December 31, 2017, 2018 and 2019 equaled the market price of the ordinary shares on the grant date. The weighted-average grant-date fair value of options granted during the years ended December 31, 2017, 2018, and 2019 was US$747, US$1,029, and US$384, respectively.

Restricted Shares

Restricted Shares activity for the year ended December 31, 2019 was as follows:


	Number of shares			Weighted average grant date fair value (US$)
Restricted Shares
Unvested, December 31, 2018		791,444			2,060
Granted		1,122,857			1,276
Vested		(300,614	)		1,972
Forfeited/Cancelled		(193,633	)		1,860

Unvested, December 31, 2019		1,420,054			1,486

The total fair value of the Restricted Shares vested during the years ended December 31, 2017, 2018 and 2019 was RMB2.1 billion, RMB3.4 billion, RMB4.1 billion (US$593 million), respectively. The weighted-average grant-date fair value of the Restricted Shares granted during the years ended December 31, 2017, 2018, and 2019 was US$1,978, US$2,232, and US$1,276, respectively.

As of December 31, 2019, there was RMB7.2 billion (US$1.0

illion)

of unrecognized share-based compensation cost related to Restricted Shares, which is expected to be recognized over a weighted-average vesting period of 3.1 years. To the extent the actual forfeiture rate is different from the original estimate, the actual share-based compensation costs related to these awards may be different from expectation. To the extent the

ompany revises this estimate in

the

future, share-based

compensation expense

could be materially impacted in the year of revision, as well as in the following years

Subsidiaries-iQIYI

2010 Equity Incentive Plan

In October 2010, iQIYI adopted its 2010 Equity Incentive Plan (the “iQIYI 2010 Plan”), which permits the grant of restricted shares, options and share appreciation rights to the employees, directors, officers and consultants to purchase iQIYI’s ordinary shares. The iQIYI 2010 Plan is valid and effective for a term of ten years commencing from its adoption. Except for service conditions, there were no other vesting conditions for all the awards under the 2010 Plan. As of December 31, 2019, the share option pool under the iQIYI 2010 Plan approved by the Board of Directors of iQIYI was 589,729,714 iQIYI’s ordinary shares. All options granted vest over a four-year period, with 25% of the awards vesting on the first anniversary, and the remaining 75% of the awards vesting on a quarterly basis thereafter.

The following table sets forth the summary of employee option activity under the iQIYI’s 2010 Plan:


	Number of shares			Weighted average exercise price ( US$ )		Weighted average remaining contractual life (Years)		Aggregate intrinsic value ( US$ in millions)
Outstanding, December 31, 2018		380,579,031			0.47		9		630
Granted		94,625,573			0.51
Forfeited		(8,855,266	)		0.51
Exercised		(59,436,720	)		0.37

Outstanding, December 31, 2019		406,912,618			0.48		7		1,031

Vested and expected to vest at December 31, 2019		385,280,004			0.48		7		977

Exercisable at December 31, 2019		211,537,760			0.45		6		542

As of December 31, 2019, there was RMB2.2 billion (US$314 million)

unrecognized share-based compensation cost related to share options granted by iQIYI. That deferred cost is expected to be recognized over a weighted-average vesting period of 2.8 years.

2017 Share Incentive Plan

In November 2017, iQIYI adopted its 2017 Share Incentive Plan (the “iQIYI 2017 Plan”). Under the iQIYI 2017 Plan, iQIYI is authorized to grant options, restricted shares and restricted share units to members of the board,

employees, consultants and other individuals for which the maximum aggregate number of ordinary shares which may be issued pursuant to all awards is

720,000

iQIYI’s ordinary shares. The iQIYI

2017

Plan is valid and effective for a term of

ten years

commencing from its adoption. Except for service conditions, there are no other vesting conditions for all the awards issued under the

2017

Plan. As of December

2019

, the unrecognized share-based compensation cost related to its Restricted Shares is insignificant.

The following table summarizes the total share-based compensation cost recognized by the Group:


	For the years ended December 31,
	2017		2018		2019		2019
	RMB		RMB		RMB		US$
	(In millions)
Expensed as cost of revenues		183		224		327		47
Expensed as selling, general and administrative		973		1,725		1,768		254
Expensed as research and development		2,088		2,727		3,531		507

		3,244		4,676		5,626		808

Related Party Transactions

12 Months Ended

Dec. 31, 2019

Related Party Transactions

21.	RELATED PARTY TRANSACTIONS

Related party transactions primarily related to online marketing services provided by the Company to Trip, which amounted to RMB750 million, RMB774 million and RMB627 million (US$90 million) for the years ended December 31, 2017, 2018 and 2019, respectively. The Company also provided online marketing services, cloud services and other services to Du Xiaoman, revenue for services provided amounted to RMB256 million and RMB731 million (US$105 million) for the years ended December 31, 2018 and 2019. The Company’s related party transactions with Investee A, over which

the Company

has significant influence, mainly related to hardware products purchased from and sold to Investee A, which amounted to

nil and nil for the year ended December 31, 2017, RMB102 million and RMB77 million for the year ended December 31, 2018, RMB

1.9 billion (US$276 million) and RMB249 million (US$36 million) for the year ended December 31, 2019

Other related party transactions were insignificant for each of the years presented, which included reimbursements to Robin Li’s use of an aircraft beneficially owned by his family member used for the Company’s business purposes.

As of December 31, 2018 and 2019, amounts due from/due to related parties were as follows:


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Amounts due from related parties, current:
Trip (i)		58		96		14
Du Xiaoman (ii)		77		737		106
Investee A (iii)		325		345		50
Other related parties (iv)		325		416		59

Total		785		1,594		229

Amounts due from related parties, non-current:
Du Xiaoman (ii)		3,884		3,391		487
Other related parties (v)		413		173		25

Total		4,297		3,564		512

Amounts due to related parties, current:
Trip (vi)		12		49		7
Du Xiaoman (vii)		934		973		140
Investee A (viii)		488		476		68
Investee B (ix)		186		249		36
Other related parties (x)		107		484		69

Total		1,727		2,231		320

Amounts due to related parties, non-current:
Du Xiaoman (xi)		3,729		3,430		493
Investee B (ix)		631		410		58
Other related parties (xii)		—		6		1

Total		4,360		3,846		552

(i)	The balances mainly represent amounts arising from services the Company provided to Trip.

(ii)

The balance represents long-term loans due from Du Xiaoman with interest rate ranging from 4.28% to 5.00% in 2018, and 0.00% to 0.50% in 2019, based on the re-entered

agreements

, and amounts arising from services the Company provided to Du Xiaoman. In 2018, the Company provided

long-term loan in the amount of RMB500 million to Du Xiaoman, which were reclassified to current liability within one year as of December 31, 2019 with interest rate 5.00%.

(iii)

The balances mainly represent an interest-bearing loan provided to Investee A, which is an equity investee. The Company is in the process of acquiring the equity interest that it does not currently own for approximately US$300 million. If the transaction is completed, Investee A will become a subsidiary of the Company.

(iv)	The balances mainly represent amounts arising from services the Company provided to its investees in ordinary course of business.

(v)	The balance consists of amount due from the Company’s investees in the ordinary course of business.

(vi)	The balances mainly represent amounts arising from services provided by Trip.

(vii)

The balance represents amount due to Du Xiaoman arising from services provided by Du Xiaoman to the Company in the ordinary course of business and for other unsettled payments, and loans provided by Du Xiaoman.

(viii)

The balances mainly represent amounts arising from hardware products purchased from Investee A, and an interest-bearing loan provided by the Investee A.

(ix)	The balances mainly represent deferred revenue relating to the future services to be provided by the Company to Investee B which is an equity method investment investee.

(x)	The balances mainly represent amounts arising from services provided by the Company’s investees.

(xi)	The balance represents mainly long-term loans provided by Du Xiaoman with interest rates ranging from 3.78% and 4.28%, respectively, and maturing at November 13, 2021 and August 24, 2023, respectively. In 2019, interest rates were revised to 0.00%.

(xii)

The balance represents mainly deferred revenue relating to the future services to be provided over 7 years by the Company to investees.

Segment Reporting

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Reporting

22.	SEGMENT REPORTING

The Company’s operations are organized into two segments, consisting of Baidu Core and iQIYI. Baidu Core mainly provides online marketing services and new AI initiatives. iQIYI is an online entertainment service provider, offers original, professionally produced and partner-generated content on its platform.

The Company derives the results of the segments directly

from

its internal management reporting system. The CODM reviews the performance of each segment based on its operating results and uses these results to evaluate the performance of, and to allocate resources to, each of the segments. Because substantially all of the Group’s long-lived assets and revenues are located in and derived from the PRC, geographical segments are not

presented. The Company does not allocate assets to its segments as the CODM does not evaluate the performance of segments using asset information.

The table below provides a summary of the Group’s operating segment operating results for the year ended December 31, 2017.


	For the year ended December 31, 2017
	Baidu Core			iQIYI			Intersegment eliminations & adjustments			Consolidated
	RMB			RMB			RMB			RMB
	(In millions)
Total revenues		67,681			17,378			(250	)		84,809

Operating costs and expenses:
Cost of revenues		25,688			17,386			(12	)		43,062
Selling, general and administrative		10,586			2,675			(133	)		13,128
Research and development		11,692			1,270			(34	)		12,928

Total operating costs and expenses		47,966			21,331			(179	)		69,118

Operating profit (loss)		19,715			(3,953	)		(71	)		15,691

Total other income (loss), net		5,385			208			(1	)		5,592

Income (loss) before income taxes		25,100			(3,745	)		(72	)		21,283
Income taxes		3,001			(8	)		2			2,995

Net income (loss)		22,099			(3,737	)		(74	)		18,288

Less: net income (loss) attributable to noncontrolling interests		(9	)		—			(4	)		(13	)

Net income (loss) attributable to Baidu, Inc.		22,108			(3,737	)		(70	)		18,301

The table below provides a summary of the Group’s operating segment operating results for the year ended December 31, 2018.


	For the year ended December 31, 2018
	Baidu Core			iQIYI			Intersegment eliminations			Consolidated
	RMB			RMB			RMB			RMB
	(In millions)
Total revenues		78,271			24,989			(983	)		102,277

Operating costs and expenses:
Cost of revenues		25,370			27,133			(759	)		51,744
Selling, general and administrative		15,310			4,168			(247	)		19,231
Research and development		13,783			1,994			(5	)		15,772

Total operating costs and expenses		54,463			33,295			(1,011	)		86,747

Operating profit (loss)		23,808			(8,306	)		28			15,530

Total other income (loss), net		13,169			(676	)		(698	)		11,795

Income (loss) before income taxes		36,977			(8,982	)		(670	)		27,325

Income taxes		4,664			79			—			4,743

Net income (loss)		32,313			(9,061	)		(670	)		22,582
Less: net income (loss) attributable to noncontrolling interests		(1,292	)		49			(3,748	)		(4,991	)

Net income (loss) attributable to Baidu, Inc.		33,605			(9,110	)		3,078			27,573

The table below provides a summary of the Group’s operating segment operating results for the year ended December 31, 2019.


	For the year ended December 31, 2019
	Baidu Core						iQIYI						Intersegment eliminations						Consolidated
	RMB			US$			RMB			US$			RMB			US$			RMB			US$
	(In millions)
Total revenues		79,711			11,450			28,994			4,165			(1,292	)		(186	)		107,413			15,429

Operating costs and expenses:
Cost of revenues		34,019			4,887			30,348			4,359			(1,517	)		(218	)		62,850			9,028
Selling, general and administrative		14,733			2,116			5,237			753			(60	)		(9	)		19,910			2,860
Research and development		15,698			2,255			2,667			383			(19	)		(3	)		18,346			2,635

Total operating costs and expenses		64,450			9,258			38,252			5,495			(1,596	)		(230	)		101,106			14,523

Operating profit (loss)		15,261			2,192			(9,258	)		(1,330	)		304			44			6,307			906

Total other income (loss), net		(5,680	)		(816	)		(967	)		(139	)		—			—			(6,647	)		(955	)

Income (loss) before income taxes		9,581			1,376			(10,225	)		(1,469	)		304			44			(340	)		(49	)

Income taxes		1,896			272			52			7			—			—			1,948			279

Net income (loss)		7,685			1,104			(10,277	)		(1,476	)		304			44			(2,288	)		(328	)
Less: net income (loss) attributable to noncontrolling interests		105			15			46			7			(4,496	)		(646	)		(4,345	)		(624	)

Net income (loss) attributable to Baidu, Inc.		7,580			1,089			(10,323	)		(1,483	)		4,800			690			2,057			296

Fair Value Measurements

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

23.	FAIR VALUE MEASUREMENTS

ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:


Level 1	–	Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2	–	Include observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.
Level 3	–	Unobservable inputs which are supported by little or no market activity.

ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

Assets and Liabilities Measured or Disclosed at Fair

Value

a recurring basis

In accordance with ASC 820, the Company measures equity investments with readily determinable fair value, investments accounted for at fair value,

available-for-sale

debt investments and derivatives instruments at fair value on a recurring basis. The fair value of time deposits are determined based on the prevailing interest rates in the market. The fair values of the Company’s

held-to-maturity

debt investments as disclosed are determined based on the discounted cash flow model using the discount curve of market interest rates. The fair value of the Company’s short-term

available-for-sale

debt investments are measured using the income approach, based on quoted market interest rates of a similar instrument and other significant inputs derived from or corroborated by observable market data. The fair values of the Company’s equity investments in the equity securities of publicly listed companies are measured using quoted market prices. The fair value of derivative instruments of interest rate swaps are based on broker quotes. The fair value of financial liability is based on quoted market price of a similar asset to the underlying assets. Investments accounted for at fair value are equity investments in unlisted companies held by consolidated investment companies, these investments and our

long-term

available-for-sale debt investments do not have readily determinable market value, which were categorized as Level 3 in the fair value hierarchy. The Company uses a combination of valuation methodologies, including market and income approaches based on the Company’s best estimate, which is determined by using information including but not limited to the pricing of recent rounds of financing, future cash flow forecasts, liquidity factors and multiples of a

selection

of comparable companies.

The fair value of the Company’s notes payable are extracted directly from their quoted market prices. The fair value of the convertible senior notes are based on broker quotes. The Company carries the convertible senior notes at face value less unamortized debt discount and issuance costs on its consolidated balance sheet

, and presents the fair value for disclosure purposes only. For further information on the convertible senior notes see Note 12.

Assets and liabilities measured on a recurring basis or disclosed at fair value are summarized below:


			Fair value measurement or disclosure at December 31, 2018 using
	Total fair value at December 31, 2018		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	RMB		RMB		RMB		RMB
	(In millions)
Fair value disclosure
Cash equivalents
Time deposits		4,264				4,264
Money market fund		3,723		3,723
Short-term investments
Held-to-maturity debt investments		27,507				27,507
Long-term notes payable		68,763				68,763
Convertible senior notes		4,923				4,923

Fair value measurements on a recurring basis
Short-term investments
Available-for-sale debt investments		79,558				79,558
Long-term investments
Equity investments at fair value with readily determinable fair value		4,428		4,428
Investments accounted for at fair value		1,457						1,457
Available-for-sale debt investments		1,167						1,167
Other non-current assets
Derivative instruments		193				187		6

Total assets measured at fair value		86,803		4,428		79,745		2,630

Accounts payable and accrued liabilities
Derivative instruments		123						123
Amounts due to related parties, non-current
Financial liability		341				341

Total liabilities measured at fair value		464		—		341		123


					Fair value measurement or disclosure at December 31, 2019 using
	Total fair value at December 31, 2019				Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	RMB		US$		RMB		RMB		RMB
	(In millions)
Fair value disclosure
Cash equivalents
Time deposits		10,848		1,558				10,848
Money market fund		1,719		247		1,719
Short-term investments
Held-to-maturity debt investments		107,654		15,464				107,654
Long-term investments:
Held-to-maturity debt investment		491		70				491
Long -term notes payable		45,282		6,504				45,282
Convertible senior notes		14,142		2,031				14,142

Fair value measurements on a recurring basis
Short-term investments
Available-for-sale debt investments		5,637		810				5,637
Long-term investments
Equity investments at fair value with readily determinable fair value		11,334		1,628		11,334
Investments accounted for at fair value		1,819		261						1,819
Available-for-sale debt investments		3,970		570						3,970
Other non-current assets
Derivative instruments		24		4				24

Total assets measured at fair value		22,784		3,273		11,334		5,661		5,789

Accounts payable and accrued liabilities
Derivative instruments		125		18						125
Amounts due to related parties, current
Financial liability		401		58				401

Total liabilities measured at fair value		526		76		—		401		125

Reconciliations of assets categorized within Level 3 under the fair value hierarchy are as follow:

Investment

accounted for at fair value:


	Amounts
	RMB
	(In millions)
Balance at December 31, 201 7		321
Additions		822
Disposals		(5	)
Net unrealized fair value increase recognized in earning		293
Foreign currency translation adjustments		26
Balance at December 31, 2018		1,457
Additions		282
Disposals		(128	)
Net unrealized fair value increase recognized in earning		197
Foreign currency translation adjustments		11

Balance at December 31, 2019		1,819

Balance at December 31, 2019, in US$		261

Available-for-sale

debt investments:


	Amounts
	RMB
	(In millions)
Balance at December 31, 2017		—
Additions		1,167
Balance at December 31, 2018		1,167
Additions		2,785
Disposals		(20	)
Net unrealized fair value increase recognized in other comprehensive income		91
Accrued interest		48
Impairment		(81	)
Foreign currency translation adjustments		(20	)
Balance at December 31, 2019		3,970

Balance at December 31, 2019, in US$		570

Assets measured at fair value on a non-recurring basis

The Company measures non-financial assets such as certain equity investments on a nonrecurring basis when impairment charges are recognized due to declining financial performances and changes in business circumstances of these investees. The Company’s non-financial long-lived assets, such as intangible assets, goodwill and fixed assets, would be measured at fair value only if they were determined to be impaired on an other-than-temporary basis.

The Company uses a combination of valuation methodologies, including market and income approaches based on the Company’s best estimate to determine the fair value of these non-financial assets. Inputs used in these methodologies primarily included future cash flows, discount rate, expected volatility and the selection of comparable companies operating in similar businesses. The fair values of the Company’s equity method investments in publicly listed companies are measured using quoted market prices.

For equity securities accounted for under the measurement alternative, when there are observable price changes in orderly transactions for identical or similar investments of the same issuer, the investments are re-measured to fair value (Note 4).

The non-recurring fair value measurements to the carrying amount of an investment usually requires management to estimate a price adjustment for the different rights and obligations between a similar instrument of the same issuer with an observable price change in an orderly transaction and the investment held by the Company. These non-recurring fair value measurements were measured as of the observable transaction dates. The valuation methodologies involved require management to use the observable transaction price at the transaction date and other unobservable inputs (level 3) such as volatility of comparable companies and probability of exit events as it relates to liquidation and redemption preferences.

The following table summarizes our assets held as of December 31, 2018 and 2019 for which a non-recurring fair value measurement was recorded during the year ended December 31, 2018 and 2019:


	Total fair value				Quoted Prices in Active Markets for Identical Assets (Level 1)		Signific ant Other Observable inputs (Level 2 )		Significant unobservable inputs (Level 3)		Fair value adjustment						Impairment
	RMB		US$		RMB		RMB		RMB		RMB			US$			RMB			US$
	(In millions)
Fair value measurements on a non-recurring basis
As of December 31, 2018
Long-term investments		19,739		2,835		—		4,983		14,756		3,512			504			(622	)		(89	)
Intangible assets		—		—		—		—		—								(5	)		(1	)

As of December 31, 2019
Long-term investments		22,778		3,272		14,105		358		8,315		(230	)		(33	)		(9,989	)		(1,435	)
Intangible assets		76		11		—		—		76								(406	)		(58	)

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Subsequent Events

12 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

24.	SUBSEQUENT EVENTS

In December 2019, novel coronavirus (COVID-19) was first reported to have surfaced in Wuhan, China. Subsequent to December 31, 2019, COVID-19 has spread rapidly to many parts of China and other parts of the world. The epidemic has resulted in quarantines, travel restrictions, and the temporary closure of stores and facilities in China and elsewhere.

Substantially all of the Group’s revenue and workforce are concentrated in China. Consequently, the COVID-19 outbreak may materially adversely affect our business operations and the Group’s financial condition and operating results for 2020, including but not limited to material negative impact to the Group’s total revenues, slower collection of accounts receivables and additional allowance for doubtful accounts and significant downward adjustments or impairment to the Group’s long-term investments. Because of the significant uncertainties surrounding the COVID-19 outbreak, the extent of the business disruption and the related financial impact cannot be reasonably estimated at this time.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Principles of Consolidation

Use of Estimates

which

form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates.

Foreign Currency

The Company’s functional currency is the US$. The Company’s subsidiaries, VIEs and subsidiaries of the VIEs determine their functional currencies based on the criteria of ASC Topic 830,

Foreign Currency Matters

. The

Segment Reporting

As of December 31, 2018 and 2019, the Company had two reportable segments,

de-emphasize

Segment Reporting.

Business Combinations

The Company accounts for its business combinations using the purchase method of accounting in accordance with ASC Topic 805,

Business Combinations

re-measurement

gain or loss, if any, is recognized in earnings.

risk inherent in the related activity’s current business model and industry comparisons. Terminal values are based on the expected life of assets, and forecasted cash flows over that period.

Cash and Cash Equivalents and Restricted Cash

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents

Restricted cash

Restricted cash mainly consists of the cash reserved in escrow accounts at certain banks as online payment service deposits and cash pledged for bank loan facility.

In November 2016, the FASB issued Accounting Standards Update No.

2016-18,

Statement of Cash Flows

(Topic 230): Restricted Cash, which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling

beginning-of-period

and

end-of-period

total amounts presented in the statement of cash flows.

Accounts Receivable, net of allowance

Receivables from Online Payment Agencies, net of allowance

Investments

Short-term investments

All highly liquid investments with original maturities of greater than

three months

, but less than

twelve months

, are classified as short-term investments. Investments that are expected to be realized in cash during the next twelve months are also included in short-term investments.

The Company accounts for short-term debt investments in accordance with ASC Topic 320,

Investments—Debt Securitie

s (“ASC 320”)

The Company classifies the short-term investments in debt as

“held-to-maturity,”

“trading” or

“available-for-sale,”

Securities that the Company has positive intent and ability to hold to maturity are classified as

held-to-maturity

securities and stated at amortized cost. For individual securities classified as

held-to-maturity

Debt investments not classified as trading or as

held-to-

maturity

are classified as

available-for-sale

debt securities, which are reported at fair value, with unrealized gains and losses recorded in “Accumulated other comprehensive income (loss)” . An impairment loss on the

available-for-sale

debt securities is recognized in earnings when the decline in value is determined to be other-than-temporary.

Long-term investments

The Company’s long-term investments consist of equity investments with readily determinable fair value, equity method investments, held-to-maturity debt investments,

available-for-sale

debt investments, equity investments without readily determinable fair value, and other investments accounted for at fair value.

The Company adopted ASC Topic 321,

Investments–Equity Securities

(“ASC 321”) from January 1, 2018 and the cumulative effect of RMB

1.9

billion representing the unrealized gains of

available-for-sale

equity securities before the adoption was recorded as an adjustment to the opening retained

earning

Fair Value Measurements and Disclosures

Available-for-sale

debt investments are convertible debt instruments issued by private companies and investment in preferred shares that

redeemable at the Company’s option, which are measured at fair value. Interest income

earnings

when the decline in value is determined to be other-than-temporary.

Investments-Equity Method and Joint Ventures

one-quarter

lag in reporting for its share of equity income/(loss) in all of its equity method investees.

In accordance with ASC

946-320

Financial Services—Investment Companies, Investments—Debt and Equity Securities,

re-measured

periodically in accordance with ASC 820.

Fair Value Measurements of Financial Instruments

that

are not reported at fair value are disclosed in Note 23.

Fixed Assets


Office building		– 43 to 45 years
Office building related facility, machinery and equipment		– 15 years
Computer equipment		– 3 to 5 years
Office equipment		– 3 to 5 years
Vehicles		– 5 years
Leasehold improvements		– over the shorter of lease terms or estimated useful lives of the assets

Fixed assets have no estimated residual value except for the office building and its related facility, machinery and equipment, which have an estimated residual value of 4% of the cost.

Licensed Copyrights, net

Licensed Copyrights

, net

corresponding

current

, based on estimated time of usage.

The Company has two types of licensed copyrights, i) non-exclusive licensed copyrights and ii)

exclusive

Accounting Changes and Error Corrections

copyrights

Entertainment-Broadcasters: Intangibles—Goodwill and Other

Goodwill and Intangible Assets

Goodwill

The Company assesses goodwill for impairment in accordance with ASC Subtopic

350-20,

Intangibles—Goodwill and Other: Goodwill

(“ASC

350-20”),

which requires that goodwill to be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events, as defined by ASC

350-20.

As of December 31, 2018 and 2019, the Company has two reporting units, consisting of Baidu Core and iQIYI.

The Company has the option to assess qualitative factors first to determine whether it is necessary to perform the

two-step

test in accordance with ASC

350-20.

If the Company believes, as a result of the qualitative assessment, that it is

more-likely-than-not

that the fair value of the reporting unit is less than its carrying amount, the

two-step

The Company performed qualitative assessments for the reporting unit of Baidu Core in 2018 and 2019. Based on the requirements of ASC

350-20,

more-likely-than-not

the fair value was less than the carrying amount of Baidu Core, and further impairment testing on goodwill was unnecessary as of December 31, 2018 and 2019.

The Company elected to assess goodwill for impairment using the

two-step

therefore, goodwill related to the iQIYI reporting unit was not impaired and the Company was not required to perform further testing.

Intangible assets

Intangible assets have weighted average useful lives from the date of purchase as follows:


Customer relationships		– 5 years
Software		– 5 years
Trademarks		– 10 years
User list		– 5 years
Licensed copyrights of video contents		– 3 years
Others		– 6 years

350-30,

Intangibles-Goodwill and Other: General Intangibles Other than Goodwill

(“ASC

350-30”).

Produced Content, net

expenses

determined using the new estimates and any amounts previously expensed during the fiscal year is recognized in the period of revision.

The Company reviews unamortized produced content costs for impairment whenever events or circumstances indicate that the fair value of the produced content may be less than its unamortized cost.

Impairment of Long-Lived Assets Other Than Goodwill

Property, Plant and Equipment

Leases

Revenue Recognition

The Company adopted ASC Topic 606,

Revenue from Contracts with Customers

Revenue Recognition

. The cumulative effect of adopting ASC 606 resulted in an increase of RMB

933

million to the opening balance of retained earnings at January 1, 2018, which is primarily related to the Company’s online marketing revenues.

The Company recognized VAT of RMB

4.8

billion, RMB

6.1

billion and RMB

6.4

billion (US

925

million) for the years ended December

2017

2018

and

2019

, respectively.


	For the years ended
	December 31, 2017		December 31, 2018		December 31, 2019		December 31, 2019
	RMB		RMB		RMB		US$
	(In millions)
Online marketing		73,146		81,912		78,093		11,217

iQIYI membership service		6,532		10,603		14,415		2,071
iQIYI content distribution		1,192		2,163		2,544		365
Interest income earned from provision of financial services		1,658		1,724		—		—
Others		2,281		5,875		12,361		1,776

Other revenue		11,663		20,365		29,320		4,212

Total revenue		84,809		102,277		107,413		15,429

The Company’s revenue recognition policies effective on the adoption date of ASC 606 are as follows:

Performance-based online marketing services

Cost-per-

click

(“CPC”)

online

Other performance-based online marketing services

completed transaction volumes, revenue is recognized when the specified performance criteria are met along with the satisfaction of other applicable revenue recognition criteria.

Online display advertising services

Baidu Union online marketing services

Collection

Sales incentives

Membership services

The Company offers membership services that allow subscribers access to a library of premium content or personal cloud service, in exchange for

non-refundable

on-demand

content purchases and the sale of right to other services, such as other memberships, which the Company acquires and controls before they are transferred to customers.

Content distribution

The Company generates revenues from

sub-licensing

sub-license

these contents to other parties. The Company enters into a

non-exclusive

sub-license

agreement with a

sub-licensee

for a period that falls within the original exclusive license period. For cash

sub-licensing

transactions, the Company is entitled to receive the

sub-license

fee under the

sub-licensing

arrangements and does not have any future obligation once it has provided the underlying content to the

sub-licensee

(which is provided at or before the beginning of the

sub-license

period). The

sub-

The Company recognized barter sublicensing revenues of RMB763 million, RMB1.1 billion and 683

illion (US$98 million) and related costs of RMB650 million, RMB1.0 billion and RMB570

illion (US$82 million) for the years ended December 31, 2017, 2018 and 2019, respectively.

Financial services

Cloud services

based

on the customer utilization of such resources.

Sales of hardware

the

customers. Revenue is recorded net of sales incentives and return allowance.

Other revenue recognition related policies

over

Revenue recognized for the year ended December 31, 2019 that was included in contract liabilities as of January 1, 2019 was RMB

3.1

billion (US$

444

million).

1.4

billion and RMB

1.9

illion (US$

269

million), net of allowance for doubtful accounts of RMB21 million and RMB7 million (US$1 million), respectively. The increase in the

balance of contract assets was primarily due to more outstanding advertising contracts as of December 31, 2019

Cost of Revenues

Advertising and Promotional Expenses

RMB4.6 billion, RMB10.1 billion and RMB10.5 billion (US$1.5 billion), respectively.

Government Subsidies

non-operating

nature with no further conditions to be met are recorded as

non-operating

income in “Other income, net” when received. The government subsidies with certain operating conditions are recorded as “

eferred income” when received and will be recorded as operating income when the conditions are met.

Income Taxes

The Company recognizes income taxes under the

liability

more-likely-than-not

to be realized. The effect on deferred taxes of a change in tax rates is recognized in earnings in the period that includes the enactment date.

The Company applies the provisions of ASC Topic 740,

Income Taxes

Share-based Compensation

The Company accounts for share-based compensation in accordance with ASC Topic 718,

Compensation-Stock Compensation

(“ASC 718”)

The Company has elected to recognize share-based compensation using the

The Company accounts for share awards issued to

non-employees

in accordance with the provisions of ASC Subtopic

505-50,

Equity: Equity-based Payments to Non-Employees

. Prior to adopting ASU

2018-07,

Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting to simplify the accounting for share-based payments to nonemployees

(“ASU

2018-07”)

on January 1, 2019, the Company uses the Black-Scholes-Merton option pricing model method to measure the value of options granted to

non-employees

at each vesting date to determine the appropriate charge to share-based compensation.

The Company’s adopted ASU

2018-07

on January 1, 2019

using

Earnings Per Share ("EPS")

Earnings Per Share (“EPS”)

The Company computes earnings per Class A and Class B ordinary shares in accordance with ASC Topic 260,

Earnings Per Share

does

Contingencies

any

developments that would make a loss contingency both probable and reasonably estimable. The Company discloses the amount of the accrual if it is material.

Concentration of Risks

Concentration of credit risk

and amounts due from related parties. As of December 31, 2019, the Company has RMB

147.4

billion (US$

21.2

billion) in cash and cash equivalents, restricted cash, and short-term investments,

% and

three

financial institutions in the PRC exceeded 10%, representing

and

% of the Company’s total cash and cash equivalents, restricted cash, and short-term investments as of December 31, 2019, respectively.

banks

single customer with a receivable balance exceeding 10% of the total accounts receivable balance.

No customer or any Baidu Union partner generated greater than 10% of total revenues in any of the three years presented.

for

doubtful accounts is made when collection of the full amount is no longer probable.

Business and economic risks

The Company’s operations could be adversely affected by significant political, economic and social uncertainties, epidemic and trade war disruptions in the PRC.

Currency convertibility risk

Foreign currency exchange rate risk

affect

the Company’s cash flows, revenues, earnings and financial position, and the value of, and any dividends payable on, the ADS in USD.

Derivative Instruments

ASC Topic 815,

Derivatives and Hedging

Recent Accounting Pronouncements

In June 2016, the FASB issued ASU No.

2016-13,

Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

(“ASU

2016-13”)

which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU

2016-13

replaces the existing incurred loss impairment

model

with an expected loss methodology, which will result in more timely recognition of credit losses. ASU

2016-13

is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2019. The

omp

any

does not expect any material impact on net assets and the consolidated statement of comprehensive income (loss) as a result of adopting the new standard.

In January 2017, the FASB issued ASU 2017-04,

Simplifying the Test for Goodwill Impairment

In March 2019, the FASB issued ASU 2019-02,

Improvements to Accounting for Costs of Films and License Agreements for Program Materials

should be

reasse

ssed

adoption

of the new standard, they will be reviewed for impairment when there are events or changes in circumstances that indicate such assessment should be made.

Organization, Consolidation and Presentation Of Financial Statements (Tables)

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Financial Statement Balances and Amounts of VIEs and Subsidiaries Included in Consolidated Financial Statements After Elimination of Intercompany Balances and Transactions Among VIEs and Subsidiaries within Group


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Assets
Cash and cash equivalents		1,895		2,313		332
Short-term investments		2,912		1,892		272
Accounts receivable, net		3,750		5,023		722
Others		4,275		5,759		827

Total current assets		12,832		14,987		2,153

Fixed assets, net		4,183		3,839		551
Intangible assets, net		4,032		3,076		442
Long-term investments, net		18,923		21,825		3,135
Operating lease right-of-use assets		—		6,525		937
Others		12,639		12,325		1,770

Total non-current assets		39,777		47,590		6,835

Total		52,609		62,577		8,988

Liabilities
Accounts payable and accrued liabilities		13,889		15,774		2,266
Customer deposits and deferred revenue		3,704		4,841		695
Operating l ease liabilities		—		2,110		303
Others		1,219		1,967		283

Total current third-party liabilities		18,812		24,692		3,547
Operating l ease liabilities		—		4,227		607
Others		2,417		2,068		297
Total non-current third-party liabilities		2,417		6,295		904
Amounts due to the Company and its non-VIE subsidiaries, net		22,398		17,121		2,459

Total		43,627		48,108		6,910

Certain

figures


	For the years ended December 31,
	2017			2018			2019			2019
	RMB			RMB			RMB			US$
	(In millions)
Total revenues		29,208			33,992			51,988			7,468
Net loss		(626	)		(6,834	)		(2,950	)		(424	)
Net cash provided by operating activities		3,698			2,396			1,649			237
Net cash used in by investing activities		(5,725	)		(16,674	)		(4,829	)		(694	)
Net cash provided by financing activities		2,985			11,916			3,604			518

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Estimated Useful lives of Fixed Assets


Office building		– 43 to 45 years
Office building related facility, machinery and equipment		– 15 years
Computer equipment		– 3 to 5 years
Office equipment		– 3 to 5 years
Vehicles		– 5 years
Leasehold improvements		– over the shorter of lease terms or estimated useful lives of the assets

Intangible Assets, Weighted Average Economic Lives from Date of Purchase

Intangible assets have weighted average useful lives from the date of purchase as follows:


Customer relationships		– 5 years
Software		– 5 years
Trademarks		– 10 years
User list		– 5 years
Licensed copyrights of video contents		– 3 years
Others		– 6 years

Summary of Revenues Disaggregated by Revenue Source


	For the years ended
	December 31, 2017		December 31, 2018		December 31, 2019		December 31, 2019
	RMB		RMB		RMB		US$
	(In millions)
Online marketing		73,146		81,912		78,093		11,217

iQIYI membership service		6,532		10,603		14,415		2,071
iQIYI content distribution		1,192		2,163		2,544		365
Interest income earned from provision of financial services		1,658		1,724		—		—
Others		2,281		5,875		12,361		1,776

Other revenue		11,663		20,365		29,320		4,212

Total revenue		84,809		102,277		107,413		15,429

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Summary of Estimated Fair Values of Assets Acquired, Liabilities Assumed and Noncontrolling Interest

Results of the acquired entities’ operations have been included in the Company’s consolidated financial statements since the acquisition dates.


	RMB
	(In millions)
Purchase consideration		2,378

Net assets acquired, excluding intangible assets and the related deferred tax liabilities		1,545
Intangible assets, net		1,424
Deferred tax liabilities		(292	)
Pre-existing equity interests		(1,651	)
Noncontrolling interests		(1,312	)
Redeemable non-controlling interests (Note 17)		(698	)
Goodwill		3,362

		2,378

Schedule of Business Acquisitions, by Acquisition

Results of the acquired entities’ operations have been included in the Company’s consolidated financial statements since the acquisition date.


	RMB			US$
	(In millions)
Purchase consideration		1,168			168

Net assets acquired, excluding intangible assets and the related deferred tax liabilities		229			33
Intangible assets, net		543			78
Deferred tax liabilities		(134	)		(19	)
Noncontrolling interests		(266	)		(38	)
Redeemable non-controlling interests (Note 1 7 )		(182	)		(26	)
Goodwill		978			140

		1,168			168

Investments (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Investments at Amortized Cost and Fair Value

Short-term investments classification as of December 31, 2018 and 2019 were shown as below:


	As of December 31, 2018
	Cost or Amortized cost		Gross unrecognized holding gains		Gross unrecognized holding losses		Gross unrealized gains		Gross unrealized losses			Fair value
	RMB		RMB		RMB		RMB		RMB			RMB
	(In millions)
Held-to-maturity debt investments		27,388		119		—		—		—			27,507
Available-for-sale debt investments		83,100		—		—		1,216		(78	)		84,238


	As of December 31, 2019
	Cost or Amortized cost		Gross unrecognized holding gains		Gross unrecognized holding losses		Gross unrealized gains		Gross unrealized losses		Fair value
	RMB		RMB		RMB		RMB		RMB		RMB		US$
	(In millions)
Held-to-maturity debt investments		107,287		367		—		—		—		107,654		15,464
Available-for-sale debt investments		5,440		—		—		197		—		5,637		810

Schedule of Unrealized and Realized Gains and Losses of Equity Securities Without Readily Determinable Fair Values

Total unrealized and realized gains and losses of equity securities without readily determinable fair values in 2018 and 2019 were as follows:


	For the years ended December 31,
	2018			2019			2019
	RMB			RMB			US$
	(In millions)
Gross unrealized gains		7,119			1,447			208
Gross unrealized losses (including impairment) (1)		(2,867	)		(1,641	)		(236	)

Net unrealized gains (losses) on equity securities held		4,252			(194	)		(28	)
Net realized gains on equity securities sold		124			211			30

Total net gains recognized in other income, net		4,376			17			2

(1)

Gross unrealized losses (downward adjustments excluding impairment) were RMB2,412

illion and RMB863

million (US$124

million) for the years ended December 31, 2018 and 2019, respectively.

Equity Method Investments

The following tables set forth the summarized financial information of Trip:


	As of September 30, (i)
	2018 (ii)		2019		2019
	RMB		RMB		US$
	(In millions)
Current assets		84,464		75,578		10,856
Non-current assets		104,906		127,505		18,315
Current liabilities		69,065		74,118		10,646
Non-current liabilities		30,318		25,134		3,610
Noncontrolling interests		2,231		2,047		294


	For the twelve months ended September 30, (i)
	2017 (ii)		2018 (ii)		2019		2019
	RMB		RMB		RMB		US$
	(In millions)
Total revenues		25,731		29,944		34,958		5,021
Gross profit		20,725		24,019		27,627		3,968
Income from operations		2,626		3,302		4,271		613
Net income		2,282		2,807		3,764		541
Net income attributable to the investees		2,284		2,806		3,813		548

(i)	The Company adopted a one-quarter lag in reporting its share of equity income in T rip .

(ii)	T rip adopted ASC 606 , on a fully retrospective basis , and ASC 321 (collectively “new standards”) from January 1, 2018. The impact of the new standards on the Company’s financial statement s is immaterial, and prior period financial information of T rip was not restated.

Summary Of Estimated Fair Value Of Available-For-Sale Debt Investments

The following table summarizes the estimated fair value of available-for-sale debt investments with stated contractual dates, classified by the contractual maturity date of the investments:


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Due in 1 year		—		505		73
Due in 1 year through 5 years		—		10		1
Due in 5 year through 10 years		—		1,486		213
Not due at a single maturity date		1,167		1,969		283

Total		1,167		3,970		570

Long Term Investments

Schedule of Investments at Amortized Cost and Fair Value

Long-term investments classification, excluding equity method

investments

and equity investments at fair value without readily determinable fair value, as of December 31, 2018 and 2019 are shown as below:


	As of December 31, 2018
	Cost or Amortized cost		Gross unrecognized holding gains		Gross unrecognized holding losses		Gross unrealized gains		Gross unrealized losses			Fair value
	RMB		RMB		RMB		RMB		RMB			RMB
	(In millions)
Equity investments at fair value with readily determinable fair value		5,605		—		—		664		(1,841	)		4,428
Available-for-sale debt investment		1,167		—		—		—		—			1,167
Investments accounted for at fair value		1,139		—		—		318		—			1,457


	As of December 31, 2019
	Cost or Amortized cost		Gross unrecognized holding gains		Gross unrecognized holding losses			Gross unrealized gains		Gross unrealized losses			Fair value
	RMB		RMB		RMB			RMB		RMB			RMB		US$
	(In millions)
Equity investments at fair value with readily determinable fair value		11,769		—		—			2,195		(2,630	)		11,334		1,628
Available-for-sale debt investment s		3,913		—		—			138		(81	)		3,970		570
Investments accounted for at fair value		1,309		—		—			597		(87	)		1,819		261
Long-term held-to-maturity investments		496		—		(5	)		—		—			491		70

Other Equity Method Investees Excluding Ctrip Com Member [Member]

Equity Method Investments

Financial information for

the

Company’s equity method investments other than Trip are summarized as a group as follow:


	As of September 30,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Current assets		100,313		86,713		12,456
Non-current assets		11,050		18,980		2,726
Current liabilities		78,935		65,450		9,401
Non-current liabilities		2,718		8,677		1,246
Noncontrolling interests		1,706		1,498		215


	For the twelve months ended September 30, (i)
	2017			2018			2019			2019
	RMB			RMB			RMB			US$
	(In millions)
Total revenues		1,681			4,633			12,598			1,810
Gross profit		671			916			6,247			897
Loss from operations		(303	)		(418	)		(680	)		(98	)
Net loss		(310	)		(372	)		(638	)		(92	)
Net loss attributable to the investees		(311	)		(352	)		(933	)		(134	)

(i)	The Company adopted a one-quarter lag in reporting its shares of equity income in all of its investees.

Equity Method Investments

Schedule of Unrealized and Realized Gains and Losses of Equity Securities Without Readily Determinable Fair Values

The total carrying value of equity investments measured at fair value using the measurement alternative held as of December 31, 2018 and 2019 were as follows:


	As of December 31, 2018			As of December 31, 2019			As of December 31, 2019
	RMB			RMB			US$
	(In millions)
Initial cost basis		26,728			21,211			3,047
Cumulative unrealized gains		6,271			5,636			810
Cumulative unrealized losses (including impairment)		(3,730	)		(2,161	)		(311	)

Total carrying value		29,269			24,686			3,546

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Schedule of Accounts Receivable


	As of December 31,
	2018			2019			2019
	RMB			RMB			US$
	(In millions)
Accounts receivable		6,614			8,344			1,198
Allowance for doubtful accounts		(599	)		(928	)		(133	)

		6,015			7,416			1,065

Movements in Allowance for Doubtful Accounts Balance

The movements in the allowance for doubtful accounts were as follows:


	2017			2018			2019			2019
	RMB			RMB			RMB			US$
	(In millions)
Balance as of January 1		177			316			599			86
Amounts charged to expenses		190			299			331			47
Amounts written off		(51	)		(16	)		(2	)		—

Balance as of December 31		316			599			928			133

Other Assets (Tables)

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Prepaid expenses		658		955		137
Advances to suppliers		1,686		964		138
Receivables from online payment agencies		892		585		84
Deposits		247		787		113
Licensed copyrights		1,176		1,225		176
Contract assets, net		1,415		1,876		269
VAT prepayments		436		1,605		231
Income tax prepayments		2		499		72
Others		329		693		100
Total other current assets		6,841		9,189		1,320
Long-term prepaid expenses		5,331		4,176		599
Produced content, net		3,736		4,355		626
Others		710		276		39

Total other non-current assets		9,777		8,807		1,264

Fixed Assets (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Fixed Assets


	As of December 31,
	2018			2019			2019
	RMB			RMB			US$
	(In millions)
Computer equipment		26,186			29,592			4,251
Office building		4,168			4,628			665
Office building related facility, machinery and equipment		2,168			2,317			333
Vehicles		190			203			29
Office equipment		813			944			135
Leasehold improvements		352			391			56
Construction in progress		720			313			45

		34,597			38,388			5,514
Accumulated depreciation and impairment		(16,694	)		(20,077	)		(2,884	)

		17,903			18,311			2,630

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for each reporting unit from 2018 to 2019 was as follows:


	Baidu Core			iQIYI		Total
	RMB			RMB		RMB
	(In millions)
Balance at December 31, 2017		12,530			3,276		15,806

Goodwill acquired		2,750			612		3,362
Goodwill disposed		(569	)		—		(569	)
Foreign currency translation and other adjustments		(63	)		—		(63	)

Balance at December 31, 2018		14,648			3,888		18,536
Goodwill acquired		978			—		978
Goodwill disposed (i)		(1,265	)		—		(1,265	)
Foreign currency translation and other adjustments		1			—		1
Balance at December 31, 2019		14,362			3,888		18,250

Balance at December 31, 2019, in US$		2,063			558		2,621

(i)

Disposition during the year ended December 31, 2019 was primarily related to the disposal of a subsidiary (Note 4).

Intangible Assets

	As of December 31, 2018
	Gross carrying value		Accumulated impairment			Accumulated amortization			Net carrying value
	RMB		RMB			RMB			RMB
	(In millions)
Land use right		464		(130	)		(69	)		265
Customer relationships		589		—			(476	)		113
Software		693		(7	)		(506	)		180
Trademarks		942		(2	)		(499	)		441
User list		684		(2	)		(679	)		3
Licensed copyrights		18,081		—			(11,324	)		6,757
Others		2,291		(7	)		(862	)		1,422

		23,744		(148	)		(14,415	)		9,181


	As of December 31, 2019
	Gross carrying value		Accumulated impairment			Accumulated amortization			Net carrying value		Net carrying value
	RMB		RMB			RMB			RMB		US$
	(In millions)
Customer relationships		31		—			(31	)		—		—
Software		509		(7	)		(335	)		167		24
Trademarks		658		(2	)		(182	)		474		68
User list		84		(2	)		(79	)		3		—
Licensed copyrights		20,287		—			(14,000	)		6,287		903
Others		2,339		(408	)		(975	)		956		138

		23,908		(419	)		(15,602	)		7,887		1,133

Estimated Amortization Expense Relating to Existing Intangible Assets with Finite Lives

Estimated amortization expense relating to the existing intangible assets with finite lives for each of the next five years is as follows:


	RMB		US$
	(In millions)
For the years ending December 31, 2020		3,943		566
2021		2,036		292
2022		1,044		150
2023		364		52
2024		121		17

Accounts Payable and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Payables and Accruals [Abstract]

Accounts Payable and Accrued Liabilities


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Accrued payroll and welfare		1,898		2,407		346
Tax payable		2,342		3,115		447
Interest payable		382		310		45
Users’ and distributors’ deposits		661		641		92
Purchase of fixed assets and computer parts		1,890		1,220		175
Traffic acquisition costs		2,911		2,772		398
Bandwidth costs		2,085		2,492		358
Content acquisition costs		8,873		7,267		1,044
Funds collected on behalf of service providers		353		498		72
Payable to merchants		340		310		45
Accrued other operating expenses		10,680		8,925		1,282
Others		2,966		2,744		394

		35,381		32,701		4,698

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Summary of Company Issued and Publicly Sold Unsecured Senior Notes

The Company issued and publicly sold unsecured senior notes,

and

the detail of the tranches are shown as flow:


	Issue date		Principal amount (US$ million)		Mature date		Effective interest rate
2017 Notes		November 28, 2012		750		November 28, 2017		2.36	%*
2022 Ten-year Notes		November 28, 2012		750		November 28, 2022		3.59	%
2018 Notes		August 6, 2013		1,000		August 6, 2018		3.39	%*
2019 Notes		June 9, 2014		1,000		June 9, 2019		3.00	%*
2020 Notes		June 30, 2015		750		June 30, 2020		3.13	%
2025 Notes		June 30, 2015		500		June 30, 2025		4.22	%
2022 Five-year Notes		July 6, 2017		900		July 6, 2022		3.08	%
2027 Notes		July 6, 2017		600		July 6, 2027		3.73	%
2023 Notes		March 29, 2018		1,000		September 29, 2023		3.99	%
2028 March Notes		March 29, 2018		500		March 29, 2028		4.50	%
2024 Notes		November 14, 2018		850		May 14, 2024		4.51%/ 4.54	%
2028 November Notes		November 14, 2018		400		November 14, 2028		4.99	%

*	2017 Notes, 2018 Notes and 2019 Notes were fully repaid when they became due.

Principal Amount and Unamortized Discount and Debt Issuance Costs

The principal amount and unamortized discount and debt issuance costs as of December 31, 2018 and 2019 were as follows:


	As of December 31,
	2018			2019			2019
	RMB			RMB			US$
	(In millions)
Principal amount		49,867			43,519			6,251
Unamortized discount and debt issuance costs		(261	)		(210	)		(30	)

		49,606			43,309			6,221

Long Term Loans Principal Repayments

The following table summarizes the aggregate required repayments of the principal amounts of the Company’s long-term debts

(

including the notes payable and loans payable (Note

) but excluding convertible notes (Note 12

)

, in the succeeding five years and thereafter:


	RMB		US$
	(In millions)
For the years ending December 31, 2020		5,987		860
2021		7,902		1,135
2022		11,487		1,650
2023		6,962		1,000
2024		5,918		850
Thereafter		13,924		2,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Operating lease expense and supplemental cash flow information related to operating leases


	For the year ended December 31, 2019
	RMB		US$
	(In millions)
Cash payments for operating leases		2,631		378
ROU assets obtained in exchange for operating lease liabilities		3,896		560

Schedule of future lease payments under operating leases

Future lease payments under operating leases as of December 31, 2019 were as follows:


	Operating leases
	RMB		US$
	(In millions)
Year ending December 31,
2020		2,350		337
2021		1,705		245
2022		1,307		188
2023		1,080		155
2024		628		90
Thereafter		395		57

Total future lease payments		7,465		1,072
Less: Imputed interest		696		100

Total lease liability balance		6,769		972

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income (Loss) Before Income Taxes

Income (loss) before income taxes consists of:


	For the years ended December 31,
	2017			2018		2019			2019
	RMB			RMB		RMB			US$
	(In millions)
PRC		22,088			23,524		13,076			1,878
Non-PRC		(805	)		3,801		(13,416	)		(1,927	)

		21,283			27,325		(340	)		(49	)

Components of Income Tax

Income taxes consist of:


	For the years ended December 31,
	2017			2018			2019			2019
	RMB			RMB			RMB			US$
	(In millions)
Current income tax		4,224			6,184			3,564			511
Income tax refund due to reduced tax rate		(473	)		(680	)		(920	)		(132	)
Adjustments of deferred tax assets due to change in tax rates		7			—			9			1
Deferred income tax benefit		(763	)		(761	)		(705	)		(101	)

		2,995			4,743			1,948			279

Reconciliation of Effective Income Tax Provision of Tax Computed By Applying Statutory Income Tax Rate to Pre-Tax Income

The reconciliation of the actual income taxes to the amount of tax computed by applying the aforementioned statutory income tax rate to

pre-tax

income is as follows:


	For the years ended December 31,
	2017			2018			2019			2019
	RMB			RMB			RMB			US$
	(In millions, except for per share data)
Expected taxation at PRC statutory tax rate		5,321			6,831			(85	)		(12	)
Effect of differing tax rates in different jurisdictions		854			493			3,299			474
Non-taxable income		(913	)		(1,555	)		(419	)		(60	)
Non-deductible expenses		653			935			2,124			305
Research and development super-deduction		(905	)		(1,047	)		(1,245	)		(179	)
Effect of PRC preferential tax rates and tax holiday		(2,095	)		(2,250	)		(1,327	)		(191	)
Effect of tax rate changes on deferred taxes		7			—			9			1
Reversal of prior year’s EIT		(579	)		(616	)		(1,134	)		(163	)
PRC withholding tax		101			553			(224	)		(32	)
Addition to valuation allowance		551			1,399			950			136

Taxation for the year		2,995			4,743			1,948			279

Effective tax rate		14%			17%			(573%	)		(573%	)

Effect of preferential tax rates inside the PRC on basic earnings per Class A and Class B ordinary share		60.33			64.47			38.09			5.47

Tax Effects of Temporary Differences that Gave Rise to Deferred Tax Balances

The tax effects of temporary differences that gave rise to the deferred tax balances at December 31, 2018 and 2019 are as follows:


	As of December 31,
	2018			2019			2019
	RMB			RMB			US$
	(In millions)
Deferred tax assets:
Provision for doubtful receivables		252			332			48
Accrued expenses, payroll and others		4,284			4,820			692
Fixed assets depreciation		60			151			22
Net operating loss carry-forward		1,609			1,733			249
Less: valuation allowance		(3,881	)		(4,843	)		(696	)

Deferred tax assets, net		2,324			2,193			315


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Deferred tax liabilities:
Long-lived assets arising from acquisitions		360		275		40
Withholding tax on PRC subsidiaries’ undistributed earnings		619		1,621		233
Tax on capital gains		2,778		1,159		166
Other		342		218		31

		4,099		3,273		470

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Payments Under Non-cancelable Operating Leases with Initial Terms of One-Year or More

Future minimum payments under

non-cancelable

agreements for bandwidth and property management fees

consist of the following as of December 31, 2019:


	RMB		US$
	(In millions)
2020		652		94
2021		109		16
2022		77		11
2023		65		9
2024		63		9
Thereafter		63		9

		1,029		148

Future Minimum Lease Payments For Non-cancelable Agreements For Licensed Copyrights and Produced Content

Future minimum payments under

non-cancelable

agreements for licensed copyrights and produced content consist of the following as of December 31, 2019:


	RMB		US$
	(In millions)
2020		8,935		1,284
2021		6,496		933
2022		4,246		610
2023		1,534		220
2024		774		111
Thereafter		315		45

		22,300		3,203

Redeemable Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2019

Temporary Equity Disclosure [Abstract]

Summary of Redeemable Noncontrolling Interest


	2017			2018			2019		2019
	RMB			RMB			RMB		US$
	(In millions)
Balance as of January 1		5,492			11,022			716		104
Business combination (Note 3)		—			698			182		26
Other comprehensive (loss)		(335	)		—			—		—
Issuance of subsidiary shares		—			—			100		14
Disposal of subsidiary shares		(2,376	)		—			—		—
Accretion of redeemable noncontrolling interests		(17	)		146			111		15
Conversion of convertible notes of iQIYI		8,258			—			—		—
Conversion of iQIYI preferred shares recognized as redeemable noncontrolling interests to ordinary shares		—			(11,150	)		—		—

Balance as of December 31		11,022			716			1,109		159

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Equity Abstract

Retained Earnings

The reserves are not allowed to be transferred to the Company in terms of cash dividends, loans or advances, nor are they allowed for distribution except under liquidation.


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
PRC statutory reserve funds		515		626		90
Unreserved retained earnings		128,731		125,642		18,047

Total retained earnings		129,246		126,268		18,137

Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax

The changes in accumulated other comprehensive income (loss) by component, net of tax, were as follows:


	Foreign currency translation adjustment			Unrealized gains on available-for- sale investments			Total
	RMB			RMB			RMB
	(In millions)
Balance at December 31, 2016		(2,026	)		243			(1,783	)

Other comprehensive income before reclassification		732			2,574			3,306
Amounts reclassified from accumulated other comprehensive income		71			(999	)		(928	)

Net current-period other comprehensive income		803			1,575			2,378
Other comprehensive loss attribute to noncontrolling interests and redeemable noncontrolling interests		335			—			335

Balance at December 31, 2017		(888	)		1,818			930

Cumulative effect of accounting change *		—			(1,854	)		(1,854	)
Other comprehensive income before reclassification		114			4,117			4,231
Amounts reclassified from accumulated other comprehensive income		80			(2,171	)		(2,091	)

Net current-period other comprehensive income		194			92			286
Other comprehensive income attribute to noncontrolling interests and redeemable noncontrolling interests		(1,006	)		—			(1,006	)

Balance at December 31, 2018		(1,700	)		1,910			210

Other comprehensive income (loss) before reclassification		207			1,981			2,188
Amounts reclassified from accumulated other comprehensive income (loss)		(989	)		(2,689	)		(3,678	)
Net current-period other comprehensive income (loss)		(782	)		(708	)		(1,490	)
Other comprehensive loss (income) attribute to noncontrolling interests and redeemable noncontrolling interests		(102	)		(1	)		(103	)
Balance at December 31, 2019		(2,584	)		1,201			(1,383	)

Balance at December 31, 2019, in US$		(372	)		173			(199	)

*	Adjustment of net unrealized gains related to available-for-sale equity investments from accumulated other comprehensive income to opening retained earnings as a result of the adoption of ASC 321 on January 1, 2018.

Tax Effect Allocated to Each Component of Other Comprehensive Income (loss)

The following table sets forth the tax

benefit (expense

)

allocated to each component of other comprehensive income (loss) for the years ended December 31, 2017, 2018 and 2019:


	For the years ended December 31,
	2017			2018			2019			2019
	RMB			RMB			RMB			US$
	(In millions)
Unrealized gains on available-for-sale investments
Other comprehensive income (loss) before reclassification		(215	)		(409	)		(280	)		(40	)
Amounts reclassified from accumulated other comprehensive income (loss)		163			328			402			58

Net current-period other comprehensive income (loss)		(52	)		(81	)		122			18

Earnings Per Share ("EPS") (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Reconciliation of Net Income to Numerator for Computation of Basic and Diluted Per Share


	For the years ended December 31,
	2017		2018			2019			2019
	RMB		RMB			RMB			US$
	(In millions)
Net income attributable to Baidu, Inc.		18,301		27,573			2,057			296
Accretion of the redeemable noncontrolling interests		17		(130	)		(77	)		(11	)
Numerator for basic EPS computation		18,318		27,443			1,980			285
Impact of subsidiaries’ and investees’ diluted earnings per share		—		—			(28	)		(4	)
Numerator for diluted EPS computation		18,318		27,443			1,952			281

Computation of Basic and Diluted Earnings Per Class A and Class B Ordinary Share

The following table sets forth the computation of basic and diluted earnings per Class A and Class B ordinary share.


	For the years ended December 31,
	2017				2018				2019				2019
	Class A		Class B		Class A		Class B		Class A		Class A		Class B		Class B
	RMB		RMB		RMB		RMB		RMB		US$		RMB		US$
	(In millions, except for number of shares, per share and per ADS data)
Earnings per share – basic:
Numerator
Allocation of net income attributable to Baidu, Inc.		14,488		3,830		21,780		5,663		1,571		226		409		59
Denominator

Weighted average ordinary shares outstanding		27,464,760		7,260,363		27,697,335		7,201,254		27,633,243		27,633,243		7,201,254		7,201,254

Denominator used for basic EPS		27,464,760		7,260,363		27,697,335		7,201,254		27,633,243		27,633,243		7,201,254		7,201,254

Earnings per share – basic		527.51		527.51		786.36		786.36		56.84		8.16		56.84		8.16

Earnings per share – diluted:
Numerator
Allocation of net income attributable to Baidu, Inc. for diluted computation		14,513		3,805		21,824		5,619		1,549		223		403		58
Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares		3,805		—		5,619		—		403		58		—		—

Numerator for diluted EPS calculation		18,318		3,805		27,443		5,619		1,952		281		403		58
Denominator
Weighted average ordinary shares outstanding		27,464,760		7,260,363		27,697,335		7,201,254		27,633,243		27,633,243		7,201,254		7,201,254
Conversion of Class B to Class A ordinary shares		7,260,363		—		7,201,254		—		7,201,254		7,201,254		—		—
Share-based awards		227,268		—		272,454		—		50,357		50,357		—		—

Denominator used for diluted EPS		34,952,391		7,260,363		35,171,043		7,201,254		34,884,854		34,884,854		7,201,254		7,201,254

Earnings per share – diluted		524.08		524.08		780.27		780.27		55.96		8.04		55.96		8.04

Earnings per ADS:
Denominator used for earnings per ADS – basic		274,647,600				276,973,350				276,332,430		276,332,430
Denominator used for earnings per ADS – diluted		349,523,907				351,710,430				348,848,540		348,848,540
Earnings per ADS – basic		52.75				78.64				5.68		0.82

Earnings per ADS – diluted		52.41				78.03				5.60		0.80

Share-Based Awards Plan (Tables)

12 Months Ended

Dec. 31, 2019

Total Share-Based Compensation Cost Recognized

The following table summarizes the total share-based compensation cost recognized by the Group:


	For the years ended December 31,
	2017		2018		2019		2019
	RMB		RMB		RMB		US$
	(In millions)
Expensed as cost of revenues		183		224		327		47
Expensed as selling, general and administrative		973		1,725		1,768		254
Expensed as research and development		2,088		2,727		3,531		507

		3,244		4,676		5,626		808

Baidu

Option Activity

The following table summarizes the option activity for the year ended December 31, 2019:


	Number of shares			Weighted average exercise price (US$)		Weighted average remaining contractual life (Years)		Aggregate intrinsic value (US$ in millions)
Share options
Outstanding, December 31, 2018		225,684			1,751		7		40
Granted		231,152			980
Exercised		(11,849	)		221
Forfeited/Cancelled		(71,806	)		1,715

Outstanding, December 31, 2019		373,181			1,329		8		72

Vested and expected to vest at December 31, 2019		297,956			1,373		8		53

Exercisable at December 31, 2019		122,933			1,777		5		7

Assumptions Used to Estimate Fair Values of Share Options Granted

The following table presents the assumptions used to estimate the fair values of the share options granted in the years presented:


	For the years ended December 31
	2017			2018			2019
Risk-free interest rate		1.81%~2.08	%		2.57	%		1.58%~2.49	%
Dividend yield		—			—			—
Expected volatility range		35.99%~38.41	%		34.47%~35.36	%		34.62%~35.14	%
Expected life (in years)		4.99~6.01			4.89~6.25			5.83~6.03

Restricted Shares Activity

Restricted Shares activity for the year ended December 31, 2019 was as follows:


	Number of shares			Weighted average grant date fair value (US$)
Restricted Shares
Unvested, December 31, 2018		791,444			2,060
Granted		1,122,857			1,276
Vested		(300,614	)		1,972
Forfeited/Cancelled		(193,633	)		1,860

Unvested, December 31, 2019		1,420,054			1,486

iQIYI

Option Activity

The following table sets forth the summary of employee option activity under the iQIYI’s 2010 Plan:


	Number of shares			Weighted average exercise price ( US$ )		Weighted average remaining contractual life (Years)		Aggregate intrinsic value ( US$ in millions)
Outstanding, December 31, 2018		380,579,031			0.47		9		630
Granted		94,625,573			0.51
Forfeited		(8,855,266	)		0.51
Exercised		(59,436,720	)		0.37

Outstanding, December 31, 2019		406,912,618			0.48		7		1,031

Vested and expected to vest at December 31, 2019		385,280,004			0.48		7		977

Exercisable at December 31, 2019		211,537,760			0.45		6		542

Total Share-Based Compensation Cost Recognized

The following table summarizes the share-based compensation cost recognized by iQIYI:


	For the years ended December 31,
	2017		2018		2019		2019
	RMB		RMB		RMB		US$
	(In millions)
Expensed as cost of revenues		35		83		171		25
Expensed as selling, general and administrative		131		369		676		97
Expensed as research and development		67		104		238		34
		233		556		1,085		156

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2019

Amounts due from/due to related parties

As of December 31, 2018 and 2019, amounts due from/due to related parties were as follows:


	As of December 31,
	2018		2019		2019
	RMB		RMB		US$
	(In millions)
Amounts due from related parties, current:
Trip (i)		58		96		14
Du Xiaoman (ii)		77		737		106
Investee A (iii)		325		345		50
Other related parties (iv)		325		416		59

Total		785		1,594		229

Amounts due from related parties, non-current:
Du Xiaoman (ii)		3,884		3,391		487
Other related parties (v)		413		173		25

Total		4,297		3,564		512

Amounts due to related parties, current:
Trip (vi)		12		49		7
Du Xiaoman (vii)		934		973		140
Investee A (viii)		488		476		68
Investee B (ix)		186		249		36
Other related parties (x)		107		484		69

Total		1,727		2,231		320

Amounts due to related parties, non-current:
Du Xiaoman (xi)		3,729		3,430		493
Investee B (ix)		631		410		58
Other related parties (xii)		—		6		1

Total		4,360		3,846		552

(i)	The balances mainly represent amounts arising from services the Company provided to Trip.

(ii)

The balance represents long-term loans due from Du Xiaoman with interest rate ranging from 4.28% to 5.00% in 2018, and 0.00% to 0.50% in 2019, based on the re-entered

agreements

, and amounts arising from services the Company provided to Du Xiaoman. In 2018, the Company provided

long-term loan in the amount of RMB500 million to Du Xiaoman, which were reclassified to current liability within one year as of December 31, 2019 with interest rate 5.00%.

(iii)

(iv)	The balances mainly represent amounts arising from services the Company provided to its investees in ordinary course of business.

(v)	The balance consists of amount due from the Company’s investees in the ordinary course of business.

(vi)	The balances mainly represent amounts arising from services provided by Trip.

(vii)

(viii)

The balances mainly represent amounts arising from hardware products purchased from Investee A, and an interest-bearing loan provided by the Investee A.

(ix)	The balances mainly represent deferred revenue relating to the future services to be provided by the Company to Investee B which is an equity method investment investee.

(x)	The balances mainly represent amounts arising from services provided by the Company’s investees.

(xi)	The balance represents mainly long-term loans provided by Du Xiaoman with interest rates ranging from 3.78% and 4.28%, respectively, and maturing at November 13, 2021 and August 24, 2023, respectively. In 2019, interest rates were revised to 0.00%.

(xii)

The balance represents mainly deferred revenue relating to the future services to be provided over 7 years by the Company to investees.

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Summary of Group's Operating Segment Results

The table below provides a summary of the Group’s operating segment operating results for the year ended December 31, 2017.


	For the year ended December 31, 2017
	Baidu Core			iQIYI			Intersegment eliminations & adjustments			Consolidated
	RMB			RMB			RMB			RMB
	(In millions)
Total revenues		67,681			17,378			(250	)		84,809

Operating costs and expenses:
Cost of revenues		25,688			17,386			(12	)		43,062
Selling, general and administrative		10,586			2,675			(133	)		13,128
Research and development		11,692			1,270			(34	)		12,928

Total operating costs and expenses		47,966			21,331			(179	)		69,118

Operating profit (loss)		19,715			(3,953	)		(71	)		15,691

Total other income (loss), net		5,385			208			(1	)		5,592

Income (loss) before income taxes		25,100			(3,745	)		(72	)		21,283
Income taxes		3,001			(8	)		2			2,995

Net income (loss)		22,099			(3,737	)		(74	)		18,288

Less: net income (loss) attributable to noncontrolling interests		(9	)		—			(4	)		(13	)

Net income (loss) attributable to Baidu, Inc.		22,108			(3,737	)		(70	)		18,301

The table below provides a summary of the Group’s operating segment operating results for the year ended December 31, 2018.


	For the year ended December 31, 2018
	Baidu Core			iQIYI			Intersegment eliminations			Consolidated
	RMB			RMB			RMB			RMB
	(In millions)
Total revenues		78,271			24,989			(983	)		102,277

Operating costs and expenses:
Cost of revenues		25,370			27,133			(759	)		51,744
Selling, general and administrative		15,310			4,168			(247	)		19,231
Research and development		13,783			1,994			(5	)		15,772

Total operating costs and expenses		54,463			33,295			(1,011	)		86,747

Operating profit (loss)		23,808			(8,306	)		28			15,530

Total other income (loss), net		13,169			(676	)		(698	)		11,795

Income (loss) before income taxes		36,977			(8,982	)		(670	)		27,325

Income taxes		4,664			79			—			4,743

Net income (loss)		32,313			(9,061	)		(670	)		22,582
Less: net income (loss) attributable to noncontrolling interests		(1,292	)		49			(3,748	)		(4,991	)

Net income (loss) attributable to Baidu, Inc.		33,605			(9,110	)		3,078			27,573

The table below provides a summary of the Group’s operating segment operating results for the year ended December 31, 2019.


	For the year ended December 31, 2019
	Baidu Core						iQIYI						Intersegment eliminations						Consolidated
	RMB			US$			RMB			US$			RMB			US$			RMB			US$
	(In millions)
Total revenues		79,711			11,450			28,994			4,165			(1,292	)		(186	)		107,413			15,429

Operating costs and expenses:
Cost of revenues		34,019			4,887			30,348			4,359			(1,517	)		(218	)		62,850			9,028
Selling, general and administrative		14,733			2,116			5,237			753			(60	)		(9	)		19,910			2,860
Research and development		15,698			2,255			2,667			383			(19	)		(3	)		18,346			2,635

Total operating costs and expenses		64,450			9,258			38,252			5,495			(1,596	)		(230	)		101,106			14,523

Operating profit (loss)		15,261			2,192			(9,258	)		(1,330	)		304			44			6,307			906

Total other income (loss), net		(5,680	)		(816	)		(967	)		(139	)		—			—			(6,647	)		(955	)

Income (loss) before income taxes		9,581			1,376			(10,225	)		(1,469	)		304			44			(340	)		(49	)

Income taxes		1,896			272			52			7			—			—			1,948			279

Net income (loss)		7,685			1,104			(10,277	)		(1,476	)		304			44			(2,288	)		(328	)
Less: net income (loss) attributable to noncontrolling interests		105			15			46			7			(4,496	)		(646	)		(4,345	)		(624	)

Net income (loss) attributable to Baidu, Inc.		7,580			1,089			(10,323	)		(1,483	)		4,800			690			2,057			296

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Fair Value Disclosure and Measurement on Recurring Basis

Assets and liabilities measured on a recurring basis or disclosed at fair value are summarized below:


			Fair value measurement or disclosure at December 31, 2018 using
	Total fair value at December 31, 2018		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	RMB		RMB		RMB		RMB
	(In millions)
Fair value disclosure
Cash equivalents
Time deposits		4,264				4,264
Money market fund		3,723		3,723
Short-term investments
Held-to-maturity debt investments		27,507				27,507
Long-term notes payable		68,763				68,763
Convertible senior notes		4,923				4,923

Fair value measurements on a recurring basis
Short-term investments
Available-for-sale debt investments		79,558				79,558
Long-term investments
Equity investments at fair value with readily determinable fair value		4,428		4,428
Investments accounted for at fair value		1,457						1,457
Available-for-sale debt investments		1,167						1,167
Other non-current assets
Derivative instruments		193				187		6

Total assets measured at fair value		86,803		4,428		79,745		2,630

Accounts payable and accrued liabilities
Derivative instruments		123						123
Amounts due to related parties, non-current
Financial liability		341				341

Total liabilities measured at fair value		464		—		341		123


					Fair value measurement or disclosure at December 31, 2019 using
	Total fair value at December 31, 2019				Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	RMB		US$		RMB		RMB		RMB
	(In millions)
Fair value disclosure
Cash equivalents
Time deposits		10,848		1,558				10,848
Money market fund		1,719		247		1,719
Short-term investments
Held-to-maturity debt investments		107,654		15,464				107,654
Long-term investments:
Held-to-maturity debt investment		491		70				491
Long -term notes payable		45,282		6,504				45,282
Convertible senior notes		14,142		2,031				14,142

Fair value measurements on a recurring basis
Short-term investments
Available-for-sale debt investments		5,637		810				5,637
Long-term investments
Equity investments at fair value with readily determinable fair value		11,334		1,628		11,334
Investments accounted for at fair value		1,819		261						1,819
Available-for-sale debt investments		3,970		570						3,970
Other non-current assets
Derivative instruments		24		4				24

Total assets measured at fair value		22,784		3,273		11,334		5,661		5,789

Accounts payable and accrued liabilities
Derivative instruments		125		18						125
Amounts due to related parties, current
Financial liability		401		58				401

Total liabilities measured at fair value		526		76		—		401		125

Schedule of rolling forward of Investments accounted for at fair value categorized within Level 3 under the fair value hierarchy

Investment

accounted for at fair value:


	Amounts
	RMB
	(In millions)
Balance at December 31, 201 7		321
Additions		822
Disposals		(5	)
Net unrealized fair value increase recognized in earning		293
Foreign currency translation adjustments		26
Balance at December 31, 2018		1,457
Additions		282
Disposals		(128	)
Net unrealized fair value increase recognized in earning		197
Foreign currency translation adjustments		11

Balance at December 31, 2019		1,819

Balance at December 31, 2019, in US$		261

Schedule of rolling forward of available-for-sale debt investments categorized within Level 3 under the fair value hierarchy

Available-for-sale

debt investments:


	Amounts
	RMB
	(In millions)
Balance at December 31, 2017		—
Additions		1,167
Balance at December 31, 2018		1,167
Additions		2,785
Disposals		(20	)
Net unrealized fair value increase recognized in other comprehensive income		91
Accrued interest		48
Impairment		(81	)
Foreign currency translation adjustments		(20	)
Balance at December 31, 2019		3,970

Balance at December 31, 2019, in US$		570

Assets measured at fair value on a non-recurring basis

Summary of Assets Measured at Fair Value on a Non-Recurring Basis

The following table summarizes our assets held as of December 31, 2018 and 2019 for which a non-recurring fair value measurement was recorded during the year ended December 31, 2018 and 2019:


	Total fair value				Quoted Prices in Active Markets for Identical Assets (Level 1)		Signific ant Other Observable inputs (Level 2 )		Significant unobservable inputs (Level 3)		Fair value adjustment						Impairment
	RMB		US$		RMB		RMB		RMB		RMB			US$			RMB			US$
	(In millions)
Fair value measurements on a non-recurring basis
As of December 31, 2018
Long-term investments		19,739		2,835		—		4,983		14,756		3,512			504			(622	)		(89	)
Intangible assets		—		—		—		—		—								(5	)		(1	)

As of December 31, 2019
Long-term investments		22,778		3,272		14,105		358		8,315		(230	)		(33	)		(9,989	)		(1,435	)
Intangible assets		76		11		—		—		76								(406	)		(58	)

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Organization, Consolidation and Presentation Of Financial Statements - Additional Information (Detail) $ in Millions, ¥ in Billions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)
Variable Interest Entity [Line Items]
Exchange rate used for conversion of financial statements from RMB to US dollar	6.9618	6.9618
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Net assets of VIEs	¥ 14.5	$ 2,100
Beijing Perusal
Variable Interest Entity [Line Items]
Interest-free loans provided by a subsidiary of the entity to the shareholders of its variable interest entities	¥ 3.2	459
Equity pledge agreement expiration period	2 years
Other Vie
Variable Interest Entity [Line Items]
Equity pledge agreement expiration period	2 years
Baidu Netcom
Variable Interest Entity [Line Items]
Interest-free loans provided by a subsidiary of the entity to the shareholders of its variable interest entities	¥ 13.4	$ 1,900
Equity pledge agreement expiration period	2 years

Financial Statement Balances and Amounts of VIEs and Subsidiaries Included in Consolidated Financial Statements After Elimination of Intercompany Balances and Transactions Among VIEs and Subsidiaries within Group (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2019 USD ($)
Variable Interest Entity [Line Items]
Cash and cash equivalents	¥ 33,443		¥ 27,638		$ 4,804
Short-term investments	112,924		111,626		16,221
Accounts receivable, net	7,416		6,015		1,065
Total current assets	165,562		155,094		23,782
Fixed assets, net	18,311		17,903		2,630
Intangible assets, net	7,887		9,181		1,133
Long-term investments, net	69,410		80,454		9,970
Operating lease right-of-use assets	7,332		0		1,053
Total non-current assets	135,754		142,472		19,498
Total	301,316		297,566		43,280
Accounts payable and accrued liabilities	32,701		35,381		4,698
Customer deposits and deferred revenue	11,062		9,221		1,589
Operating lease liabilities	2,283		0		328
Total current liabilities	57,380		56,853		8,243
Operating lease liabilities	4,486		0		644
Total non-current third-party liabilities	71,121		64,961		10,215
Total revenues	107,413	$ 15,429	102,277
Net loss	(2,288)	(328)	22,582	¥ 18,288
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Cash and cash equivalents	2,313		1,895		332
Short-term investments	1,892		2,912		272
Accounts receivable, net	5,023		3,750		722
Others	5,759		4,275		827
Total current assets	14,987		12,832		2,153
Fixed assets, net	3,839		4,183		551
Intangible assets, net	3,076		4,032		442
Long-term investments, net	21,825		18,923		3,135
Operating lease right-of-use assets	6,525		0		937
Others	12,325		12,639		1,770
Total non-current assets	47,590		39,777		6,835
Total	62,577		52,609		8,988
Total current liabilities	24,692		18,812		3,547
Total non-current third-party liabilities	6,295		2,417		904
Total liabilities	48,108		43,627		6,910
Total revenues	51,988	7,468	33,992	29,208
Net loss	(2,950)	(424)	(6,834)	(626)
Net cash provided by operating activities	1,649	237	2,396	3,698
Net cash used in by investing activities	(4,829)	(694)	(16,674)	(5,725)
Net cash provided by financing activities	3,604	$ 518	11,916	¥ 2,985
Variable Interest Entity, Primary Beneficiary \| Third-party Liabilities
Variable Interest Entity [Line Items]
Accounts payable and accrued liabilities	15,774		13,889		2,266
Customer deposits and deferred revenue	4,841		3,704		695
Operating lease liabilities	2,110		0		303
Others	1,967		1,219		283
Total current liabilities	24,692		18,812		3,547
Operating lease liabilities	4,227		0		607
Others	2,068		2,417		297
Total non-current third-party liabilities	6,295		2,417		904
Variable Interest Entity, Primary Beneficiary \| Amounts due to the company and its non-VIE subsidiaries net
Variable Interest Entity [Line Items]
Amounts due to the Company and its non-VIE subsidiaries, net	¥ 17,121		¥ 22,398		$ 2,459

Summary of Significant Accounting Policies - Additional Information (Detail) ¥ in Millions, $ in Millions		12 Months Ended
	Jan. 01, 2018 CNY (¥)	Dec. 31, 2019 CNY (¥) Segment Unit Customer	Dec. 31, 2019 USD ($) Segment Unit Customer	Dec. 31, 2018 CNY (¥) Segment Unit Customer	Dec. 31, 2017 CNY (¥) Customer	Dec. 31, 2019 USD ($) Customer	Jan. 01, 2019 CNY (¥)	Jan. 01, 2019 USD ($)
Accounting Policies [Abstract]
Number of reportable segments \| Segment		2	2	2
Property, plant and equipment, salvage value, percentage		4.00%				4.00%
Number of reporting units \| Unit		2	2	2
Retained earnings		¥ 126,268		¥ 129,246		$ 18,137
VAT recognized		6,400	$ 925	6,100	¥ 4,800
Acquisition of licensed copyrights from nonmonetary content exchanges		683	98	1,083	763
Gross interest income				3,300	3,500
Gross interest cost				1,600	1,900
Advertising and promotional expenses		10,500	$ 1,500	10,100	¥ 4,600
Right of Use Assets		7,332		¥ 0		1,053
Total Lease Liabilities		6,769				972
Cash and cash equivalents, restricted cash and short-term investments		¥ 147,400				$ 21,200
Number of customers with receivable balance exceeding 10% \| Customer		0		0		0
Number of customer or any Baidu Union partner with revenue greater than 10% \| Customer		0	0	0	0
Appreciation of US$ against RMB, as a percentage		1.26%	1.26%
Operating lease liabilities, Current		¥ 2,283		¥ 0		$ 328
Licensed copyrights
Accounting Policies [Abstract]
Impairment charges recognized		0		181	¥ 390
Accounting Standards Update 2014-09
Accounting Policies [Abstract]
Retained earnings	¥ 933
Accounting Standards Update 2016-02
Accounting Policies [Abstract]
Right of Use Assets		7,300				1,100	¥ 5,400	$ 782
Total Lease Liabilities		6,800				972	5,000	$ 716
Operating lease liabilities, Current		2,300				328
Online Payment Agencies
Accounting Policies [Abstract]
Allowance for doubtful accounts of online payment agencies		0		0
iQIYI Licensed Copyright
Accounting Policies [Abstract]
Acquisition of licensed copyrights from nonmonetary content exchanges		683	$ 98	1,100	763
Barter transaction, Cost Recognized		¥ 570	$ 82	1,000	¥ 650
Short-term Investments \| Minimum
Accounting Policies [Abstract]
Maturity period used to classify cash and cash equivalent and investments		3 months	3 months
Short-term Investments \| Maximum
Accounting Policies [Abstract]
Maturity period used to classify cash and cash equivalent and investments		12 months	12 months
Cash and cash equivalents \| Maximum
Accounting Policies [Abstract]
Maturity period used to classify cash and cash equivalent and investments		3 months	3 months
Other Current Assets, net
Accounting Policies [Abstract]
Contract assets		¥ 1,900		1,400		269
Allowance for doubtful accounts receivable		7		¥ 21		$ 1
Contract with Customer, Liability, Revenue Recognized		¥ 3,100	$ 444
Credit Concentration Risk \| Sales Revenue, Net \| Minimum
Accounting Policies [Abstract]
Concentration risk by percentage		10.00%	10.00%
Credit Concentration Risk \| Onshore China \| Financial Instruments
Accounting Policies [Abstract]
Concentration risk by percentage		92.00%	92.00%
Credit Concentration Risk \| Onshore China \| Financial Institution One [Member]
Accounting Policies [Abstract]
Concentration risk by percentage		24.00%	24.00%
Credit Concentration Risk \| Onshore China \| Financial Institution Two [Member]
Accounting Policies [Abstract]
Concentration risk by percentage		21.00%	21.00%
Credit Concentration Risk \| Onshore China \| Financial Institution Three [Member]
Accounting Policies [Abstract]
Concentration risk by percentage		18.00%	18.00%
Credit Concentration Risk \| Offshore China \| Financial Instruments
Accounting Policies [Abstract]
Concentration risk by percentage		8.00%	8.00%
Ordinary Shares \| Accounting Standards Update 2016-01
Accounting Policies [Abstract]
Cumulative effect on retained earnings	¥ 1,900
Office building and its related facility
Accounting Policies [Abstract]
Property, plant and equipment, salvage value, percentage		4.00%				4.00%
Land use right \| Accounting Standards Update 2016-02
Accounting Policies [Abstract]
Right of Use Assets							¥ 265

Estimated Useful Lives of Fixed Assets (Detail)	12 Months Ended
Estimated Useful Lives of Fixed Assets (Detail)	Dec. 31, 2019
Office building \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	43 years
Office building \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	45 years
Office building related facility, machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	15 years
Computer equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Computer equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Office equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Office equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (description)	over the shorter of lease terms or estimated useful lives of the assets

Weighted Average Useful Lives from Date of Purchase of Intangible Assets (Detail)	12 Months Ended
	Dec. 31, 2019
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset weighted average economic life	5 years
Software
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset weighted average economic life	5 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset weighted average economic life	10 years
User list
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset weighted average economic life	5 years
Licensed copyrights of video contents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset weighted average economic life	3 years
Others
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset weighted average economic life	6 years

Summary of Revenues Disaggregated by Revenue Source (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Disaggregation of Revenue [Line Items]
Total revenue				¥ 84,809
Total revenue	¥ 107,413	$ 15,429	¥ 102,277
Online Marketing Services
Disaggregation of Revenue [Line Items]
Total revenue				73,146
Total revenue	78,093	11,217	81,912
Other Revenue iQIYI Membership Service
Disaggregation of Revenue [Line Items]
Total revenue				6,532
Total revenue	14,415	2,071	10,603
Other Revenue iQIYI Content Distribution
Disaggregation of Revenue [Line Items]
Total revenue				1,192
Total revenue	2,544	365	2,163
Other Revenue Interest Income Earned from Provision of Financial Services
Disaggregation of Revenue [Line Items]
Total revenue				1,658
Total revenue			1,724
Other Revenue Others
Disaggregation of Revenue [Line Items]
Total revenue				2,281
Total revenue	12,361	1,776	5,875
Other Revenue
Disaggregation of Revenue [Line Items]
Total revenue				¥ 11,663
Total revenue	¥ 29,320	$ 4,212	¥ 20,365

Summary of Estimated Fair Values of Assets Acquired, Liabilities Assumed and Noncontrolling Interest (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2017 CNY (¥)
Business Acquisition [Line Items]
Purchase consideration	¥ 1,200	$ 168
Goodwill	18,250		¥ 18,536	$ 2,621	¥ 15,806
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Purchase consideration	1,168	$ 168	2,378
Net assets acquired, excluding intangible assets and the related deferred tax liabilities	229		1,545	33
Intangible assets, net	543		1,424	78
Deferred tax liabilities	(134)		(292)	(19)
Pre-existing equity interests			(1,651)
Noncontrolling interests	(266)		(1,312)	(38)
Redeemable non-controlling interests (Note 17)	(182)		(698)	(26)
Goodwill	978		3,362	140
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest	¥ 1,168		¥ 2,378	$ 168

Business Combinations - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2017 CNY (¥)
Business Acquisition [Line Items]
Re-measurement gain relating to pre-existing equity interest			¥ 630
Purchase consideration	¥ 1,200	$ 168
Goodwill	18,250		¥ 18,536	$ 2,621	¥ 15,806
Business Combinations 2019
Business Acquisition [Line Items]
Goodwill	¥ 978			$ 140

Investments - Short-term Investments - Additional information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Schedule of Investments [Line Items]
Investment interest income	¥ 6,060	$ 870	¥ 4,451	¥ 3,154
Short-term Investments
Schedule of Investments [Line Items]
Investment interest income	¥ 5,400	$ 771	¥ 3,900	¥ 3,000

Investments - Long-term Investments - Additional information (Detail) ¥ in Millions, shares in Millions, $ in Millions	1 Months Ended					3 Months Ended		12 Months Ended
	Oct. 31, 2019 CNY (¥) shares	Oct. 31, 2019 USD ($) shares	Aug. 31, 2018 CNY (¥)	Aug. 31, 2017 CNY (¥)	May 31, 2017 CNY (¥)	Sep. 30, 2019 CNY (¥)	Sep. 30, 2019 USD ($)	Dec. 31, 2019 CNY (¥) Directors	Dec. 31, 2019 USD ($) Directors	Dec. 31, 2018 CNY (¥)	Dec. 31, 2015 CNY (¥)	Dec. 31, 2019 USD ($)	Oct. 31, 2017 CNY (¥)
Schedule of Investments [Line Items]
Impairment recognized for equity method investments								¥ 9,200	$ 1,300	¥ 167
Carrying amount of equity method investments								¥ 27,100		¥ 44,100		$ 3,900
Mobile Game Business
Schedule of Investments [Line Items]
Gains recognized on share exchange transaction					¥ 923
China United Network Communication Limited [Member]
Schedule of Investments [Line Items]
Total purchase consideration													¥ 7,000
Total purchase consideration attributable to the noncontrolling interest													¥ 4,000
Trip.com International, Ltd
Schedule of Investments [Line Items]
Equity method investment, percentage of ownership								12.00%				12.00%
Fair value of equity investment								¥ 16,200				$ 2,300
Losses (gains) on equity method investments	¥ 43	$ 6									¥ (24,400)
Impairment recognized for equity method investments						¥ 8,900	$ 1,300
Equity method investment, disposal of ADS \| shares	36	36
Proceeds From sale of equity investments \| $		$ 988
Adjustments to goodwill acquired						¥ 8,900	$ 1,300
Number of directors \| Directors								9	9
Trip.com International, Ltd \| Active directors [Member]
Schedule of Investments [Line Items]
Number of directors \| Directors								2	2
Xiaodu Life Technology Ltd
Schedule of Investments [Line Items]
Gains recognized on share exchange transaction				¥ 4,600
Du Xiaoman Financial
Schedule of Investments [Line Items]
Aggregate deconsolidated gain			¥ 5,500					¥ 801
Re-measurement of retained investment			¥ 4,200
Equity interest percentage			41.00%
Equity method goodwill			¥ 3,500
Intangible assets			851
Deferred tax liabilities			¥ 213

Investment - Schedule of Investments at Amortized Cost and Fair Value (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Short-term Investments
Amortized cost, Gain (loss) and Fair value on Investments [Line Items]
Held-to-maturity debt investments, fair value	¥ 107,654	$ 15,464	¥ 27,507
Available-for-sale debt investments, fair value	5,637	810	79,558
Debt Securities, Held-to-maturity, Fair Value	107,654	15,464	27,507
Short-term Investments \| Corporate Debt Securities
Amortized cost, Gain (loss) and Fair value on Investments [Line Items]
Held-to-maturity debt investments, cost or amortized cost	107,287		27,388
Held-to-maturity debt investments, gross unrecognized holding gains	367		119
Held-to-maturity debt investments, fair value	107,654	15,464	27,507
Available-for-sale debt investments, cost or amortized cost	5,440		83,100
Available-for-sale debt investments, gross unrealized gains	197		1,216
Available-for-sale debt investments, gross unrealized losses			(78)
Available-for-sale debt investments, fair value	5,637	810	84,238
Debt Securities, Held-to-maturity, Fair Value	107,654	15,464	27,507
Long-term investments
Amortized cost, Gain (loss) and Fair value on Investments [Line Items]
Held-to-maturity debt investments, fair value	491	70
Available-for-sale debt investments, fair value	3,970	570	1,167
Equity investments at fair value with readily determinable fair value, fair value	11,334	1,628	4,428
Investments accounted for at fair value, fair value	1,819	261	1,457
Debt Securities, Held-to-maturity, Fair Value	491	70
Long-term investments \| Corporate Debt Securities
Amortized cost, Gain (loss) and Fair value on Investments [Line Items]
Held-to-maturity debt investments, fair value	491	70
Available-for-sale debt investments, cost or amortized cost	3,913		1,167
Available-for-sale debt investments, gross unrealized gains	138
Available-for-sale debt investments, gross unrealized losses	(81)
Available-for-sale debt investments, fair value	3,970	570	1,167
Investments accounted for at fair value, cost or amortized cost	1,309		1,139
Investments accounted for at fair value, gross unrealized Losses	(87)
Investments accounted for at fair value, gross unrealized gains	597		318
Investments accounted for at fair value, fair value	1,819	261	1,457
Debt Securities, Held-to-maturity, Noncurrent	496
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	(5)
Debt Securities, Held-to-maturity, Fair Value	491	70
Long-term investments \| Ordinary Shares
Amortized cost, Gain (loss) and Fair value on Investments [Line Items]
Equity investments at fair value with readily determinable fair value, cost or amortized cost	11,769		5,605
Equity investments at fair value with readily determinable fair value, gross unrealized gains	2,195		664
Equity investments at fair value with readily determinable fair value, gross unrealized loss	(2,630)		(1,841)
Equity investments at fair value with readily determinable fair value, fair value	¥ 11,334	$ 1,628	¥ 4,428

Schedule of Unrealized and Realized Gains and Losses of Equity Securities Without Readily Determinable Fair Values (Detail)
¥ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2019

CNY (¥)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2019

USD ($)

Equity Securities, FV-NI and without Readily Determinable Fair Value [Abstract]

Initial cost basis

¥ 21,211

¥ 26,728

$ 3,047

Cumulative unrealized gains

5,636

6,271

810

Cumulative unrealized losses (including impairment)

(2,161)

(3,730)

(311)

Total carrying value

24,686

29,269

$ 3,546

Gross unrealized gains

1,447

$ 208

7,119

Gross unrealized losses (including impairment)

^[1]

(1,641)

(236)

(2,867)

Net unrealized gains (losses) on equity securities held

(194)

(28)

4,252

Net realized gains on equity securities sold

211

124

Total net gains recognized in other income, net

¥ 17

$ 2

¥ 4,376

[1]	Gross unrealized losses (downward adjustments excluding impairment) were RMB2.4 billion and RMB863 million (US$124 million) for the years ended December 31, 2018 and 2019, respectively.

Schedule of Unrealized and Realized Gains and Losses of Equity Securities Without Readily Determinable Fair Values (Parenthetical) (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Equity Securities, FV-NI and without Readily Determinable Fair Value [Abstract]
Equity securities gross unrealised loss excluding impairment	¥ 863	$ 124	¥ 2,412

Summarized Financial Information (Detail)
¥ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2019

CNY (¥)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2017

CNY (¥)

Dec. 31, 2019

USD ($)

Ctrip.com International, Ltd

Schedule of Equity Method Investments [Line Items]

Current assets

^[1]

¥ 75,578

¥ 84,464

^[2]

$ 10,856

Non-current assets

^[1]

127,505

104,906

^[2]

18,315

Current liabilities

^[1]

74,118

69,065

^[2]

10,646

Non-current liabilities

^[1]

25,134

30,318

^[2]

3,610

Noncontrolling interests

^[1]

2,047

2,231

^[2]

294

Total revenues

^[1]

34,958

$ 5,021

29,944

^[2]

¥ 25,731

^[2]

Gross profit

^[1]

27,627

3,968

24,019

^[2]

20,725

^[2]

(Loss) income from operations

^[1]

4,271

613

3,302

^[2]

2,626

^[2]

Net (loss) income

^[1]

3,764

541

2,807

^[2]

2,282

^[2]

Net (loss) income attributable to the investees

^[1]

3,813

548

2,806

^[2]

2,284

^[2]

Other Equity Method Investees Excluding Ctrip,com

Schedule of Equity Method Investments [Line Items]

Current assets

86,713

100,313

12,456

Non-current assets

18,980

11,050

2,726

Current liabilities

65,450

78,935

9,401

Non-current liabilities

8,677

2,718

1,246

Noncontrolling interests

1,498

1,706

$ 215

Total revenues

^[3]

12,598

1,810

4,633

1,681

Gross profit

^[3]

6,247

897

916

671

(Loss) income from operations

^[3]

(680)

(98)

(418)

(303)

Net (loss) income

^[3]

(638)

(92)

(372)

(310)

Net (loss) income attributable to the investees

^[3]

¥ (933)

$ (134)

¥ (352)

¥ (311)

[1]	The Company adopted a one-quarter lag in reporting its share of equity income in Trip.
[2]	Trip adopted ASC 606, on a fully retrospective basis, and ASC 321 (collectively “new standards”) from January 1, 2018. The impact of the new standards on the Company’s financial statements is immaterial, and prior period financial information of Trip was not restated.
[3]	The Company adopted a one-quarter lag in reporting its shares of equity income in all of its investees.

Summary Of Estimated Fair Value Of Available-For-Sale Debt Investments (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Investments, Debt and Equity Securities [Abstract]
Due in 1 year	¥ 505	$ 73
Due in 1 year through 5 years	10	1
Due in 5 year through 10 years	1,486	213
Not due at a single maturity date	1,969	283	¥ 1,167
Total	¥ 3,970	$ 570	¥ 1,167

Accounts Receivable (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2016 CNY (¥)
Receivables [Abstract]
Accounts receivable	¥ 8,344	$ 1,198	¥ 6,614
Allowance for doubtful accounts	(928)	(133)	(599)	$ (86)	¥ (316)	¥ (177)
Accounts receivable, net	¥ 7,416	$ 1,065	¥ 6,015

Movement in Allowance for Doubtful Accounts (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Allowance for Doubtful Accounts
Balance as of January 1	¥ 599	$ 86	¥ 316	¥ 177
Amounts charged to expenses	331	47	299	190
Amounts written off	(2)		(16)	(51)
Balance as of December 31	¥ 928	$ 133	¥ 599	¥ 316

Other Assets (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Prepaid Expense and Other Assets [Abstract]
Prepaid expenses	¥ 955	$ 137	¥ 658
Advances to suppliers	964	138	1,686
Receivables from online payment agencies	585	84	892
Deposits	787	113	247
Licensed copyrights	1,225	176	1,176
Contract assets, net	1,876	269	1,415
Others	693	100	329
VAT Prepayments	1,605	231	436
Income tax prepayments	499	72	2
Total other current assets	9,189	1,320	6,841
Long-term prepaid expenses	4,176	599	5,331
Produced content, net	4,355	626	3,736
Others	276	39	710
Total other non-current assets	¥ 8,807	$ 1,264	¥ 9,777

Fixed Assets (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	¥ 38,388	$ 5,514	¥ 34,597
Accumulated depreciation and impairment	(20,077)	(2,884)	(16,694)
Fixed assets, net	18,311	2,630	17,903
Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	29,592	4,251	26,186
Office building
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,628	665	4,168
Office building related facility, machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,317	333	2,168
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	203	29	190
Office equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	944	135	813
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	391	56	352
Construction in Progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	¥ 313	$ 45	¥ 720

Fixed Assets - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Property, Plant and Equipment [Abstract]
Capital leases, asset gross			¥ 201
Capital leases, accumulated depreciation			201
Fixed assets, depreciation expense	¥ 5,600	$ 799	¥ 3,700	¥ 3,800

Goodwill and Intangible Assets - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥) Unit	Dec. 31, 2019 USD ($) Unit	Dec. 31, 2018 CNY (¥) Unit	Dec. 31, 2017 CNY (¥)
Amortization Of Intangible Assets Disclosure [Abstract]
Number of reporting units the company	2	2	2
Impairment loss on intangible assets excluding licensed copyrights	¥ 406	$ 58	¥ 5	¥ 139
Amortization expense of intangible assets and licensed copyrights	¥ 13,500	$ 1,900	¥ 12,500	¥ 7,900

Changes in the Carrying Amount of Goodwill (Detail)
¥ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2019

CNY (¥)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

CNY (¥)

Goodwill [Line Items]

Beginning Balance

¥ 18,536

¥ 15,806

Goodwill acquired

978

3,362

Goodwill disposed

(1,265)

^[1]

(569)

Foreign currency translation and other adjustments

(63)

Ending Balance

18,250

$ 2,621

18,536

iQIYI

Goodwill [Line Items]

Beginning Balance

3,888

3,276

Goodwill acquired

612

Ending Balance

3,888

558

3,888

Baidu Core

Goodwill [Line Items]

Beginning Balance

14,648

12,530

Goodwill acquired

978

2,750

Goodwill disposed

(1,265)

^[1]

(569)

Foreign currency translation and other adjustments

(63)

Ending Balance

¥ 14,362

$ 2,063

¥ 14,648

[1]	Disposition during the year ended December 31, 2019 was primarily related to the disposal of a subsidiary (Note 4).

Finite-Lived Intangible Assets (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	¥ 23,908		¥ 23,744
Finite lived intangible assets accumulated impairment	(419)		(148)
Finite-lived intangible assets, accumulated amortization	(15,602)		(14,415)
Finite-lived intangible assets, net carrying value	7,887	$ 1,133	9,181
Land use right
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value			464
Finite lived intangible assets accumulated impairment			(130)
Finite-lived intangible assets, accumulated amortization			(69)
Finite-lived intangible assets, net carrying value			265
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	31		589
Finite-lived intangible assets, accumulated amortization	(31)		(476)
Finite-lived intangible assets, net carrying value			113
Software
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	509		693
Finite lived intangible assets accumulated impairment	(7)		(7)
Finite-lived intangible assets, accumulated amortization	(335)		(506)
Finite-lived intangible assets, net carrying value	167	24	180
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	658		942
Finite lived intangible assets accumulated impairment	(2)		(2)
Finite-lived intangible assets, accumulated amortization	(182)		(499)
Finite-lived intangible assets, net carrying value	474	68	441
User list
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	84		684
Finite lived intangible assets accumulated impairment	(2)		(2)
Finite-lived intangible assets, accumulated amortization	(79)		(679)
Finite-lived intangible assets, net carrying value	3		3
Licensed copyrights
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	20,287		18,081
Finite-lived intangible assets, accumulated amortization	(14,000)		(11,324)
Finite-lived intangible assets, net carrying value	6,287	903	6,757
Others
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	2,339		2,291
Finite lived intangible assets accumulated impairment	(408)		(7)
Finite-lived intangible assets, accumulated amortization	(975)		(862)
Finite-lived intangible assets, net carrying value	¥ 956	$ 138	¥ 1,422

Estimated Amortization Expense Relating to Existing Intangible Assets with Finite Lives (Detail) - Dec. 31, 2019 ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Estimated amortization expense
2020	¥ 3,943	$ 566
2021	2,036	292
2022	1,044	150
2023	364	52
2024	¥ 121	$ 17

Accounts Payable and Accrued Liabilities (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Payables and Accruals [Abstract]
Accrued payroll and welfare	¥ 2,407	$ 346	¥ 1,898
Tax payable	3,115	447	2,342
Interest payable	310	45	382
Users' and distributors' deposits	641	92	661
Purchase of fixed assets and computer parts	1,220	175	1,890
Traffic acquisition costs	2,772	398	2,911
Bandwidth costs	2,492	358	2,085
Content acquisition costs	7,267	1,044	8,873
Funds collected on behalf of service providers	498	72	353
Payable to merchants	310	45	340
Accrued other operating expenses	8,925	1,282	10,680
Others	2,744	394	2,966
Accounts payable and accrued liabilities	¥ 32,701	$ 4,698	¥ 35,381

Loans Payable - Additional Information (Detail) $ in Thousands, ¥ in Millions	1 Months Ended			12 Months Ended			24 Months Ended
	Sep. 30, 2019 CNY (¥)	Apr. 30, 2017 CNY (¥)	Jun. 30, 2016 USD ($) Tranche	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Sep. 21, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Nov. 30, 2019 CNY (¥)	Nov. 30, 2019 USD ($)	Sep. 30, 2019 USD ($)	Nov. 30, 2016 USD ($) Tranche
Debt Instrument [Line Items]
Short-term loans				¥ 2,618		¥ 3,046		$ 376,000
Weighted average interest rates for outstanding borrowings				4.05%		4.47%		4.05%
Unused line of credit for short term loans				¥ 1,600		¥ 781		$ 233,000
iQIYI
Debt Instrument [Line Items]
Debt Collateral				562				81,000
Carrying amount of real estate used as collateral				562				81,000
Restricted cash				965				139,000
Other loans [Member] \| iQIYI
Debt Instrument [Line Items]
Repayment of debt				75	$ 11,000
Outstanding borrowings from third party investors				898				129,000
Long-term loans, current portion				429				62,000
Long-term loans				¥ 469				67,000
Other loans [Member] \| iQIYI \| Minimum
Debt Instrument [Line Items]
Securities with maturities ranging				2019	2019
Other loans [Member] \| iQIYI \| Maximum
Debt Instrument [Line Items]
Securities with maturities ranging				2020	2020
Other loans [Member] \| iQIYI \| 2018 factored receivables
Debt Instrument [Line Items]
Effective interest rate						7.00%
Accounts payable to certain suppliers selected for securitization \| ¥						¥ 525
Proceeds from issuance of debt securities \| ¥						446
Other loans [Member] \| iQIYI \| 2019 factored receivables
Debt Instrument [Line Items]
Effective interest rate									5.97%	5.97%
Accounts payable to certain suppliers selected for securitization									¥ 587	$ 84,000
Proceeds from issuance of debt securities				¥ 500	$ 72,000
Bank Of China Shanghai Branch \| iQIYI
Debt Instrument [Line Items]
Specific amount up to which borrowings can be made under the commitment of a bank loan \| ¥		¥ 299
Bank loan maturity period		3 years
Amount borrowed under the commitment of a bank loan		¥ 299		274		284		39,000
Interest rate		4.47%
Repayment of debt \| ¥							¥ 25
Long-term loans, current portion				274		¥ 10		39,000
A Group Of 21 Arrangers
Debt Instrument [Line Items]
Bank loan maturity period			5 years
A Group Of 21 Arrangers \| Unsecured Loan 1
Debt Instrument [Line Items]
Specific amount up to which borrowings can be made under the commitment of a bank loan \| $			$ 1,000,000
Bank loan maturity period			5 years
Number of tranches issued and sold \| Tranche			2
A Group Of 21 Arrangers \| Unsecured Loan 2
Debt Instrument [Line Items]
Specific amount up to which borrowings can be made under the commitment of a bank loan \| $			$ 1,000,000
Bank loan maturity period			5 years
Number of tranches issued and sold \| Tranche												2
A Group Of 21 Arrangers \| Debt Instrument Tranche One \| Unsecured Loan 1
Debt Instrument [Line Items]
Amount borrowed under the commitment of a bank loan \| $			$ 250,000									$ 250,000
Interest rate			2.11%									2.78%
A Group Of 21 Arrangers \| Debt Instrument Tranche Two \| Unsecured Loan 1
Debt Instrument [Line Items]
Amount borrowed under the commitment of a bank loan \| $			$ 250,000									$ 250,000
Interest rate			2.10%									2.78%
JP Morgan Chase Bank N A
Debt Instrument [Line Items]
Specific amount up to which borrowings can be made under the commitment of a bank loan	¥ 800										$ 115,000
Bank loan maturity period	2 years
Amount borrowed under the commitment of a bank loan	¥ 448										$ 64,000
Interest rate	3.55%										3.55%
Repayment of debt				3	$ 424
Outstanding borrowings from third party investors				445				64,000
Long-term loans, current portion				34				5,000
JP Morgan Chase Bank N A \| Held-to-maturity Securities
Debt Instrument [Line Items]
Debt Collateral				¥ 494				$ 71,000

Notes Payable - Summary of Company Issued and Publicly Sold Unsecured Senior Notes (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
2017 Notes
Debt and Financial Instruments [Line Items]
Issue date	Nov. 28, 2012
Principal amount	$ 750
Mature date	Nov. 28, 2017
Effective interest rate	2.36%
2022 Ten-year Notes
Debt and Financial Instruments [Line Items]
Issue date	Nov. 28, 2012
Principal amount	$ 750
Mature date	Nov. 28, 2022
Effective interest rate	3.59%
2018 Notes
Debt and Financial Instruments [Line Items]
Issue date	Aug. 06, 2013
Principal amount	$ 1,000
Mature date	Aug. 06, 2018
Effective interest rate	3.39%
2019 Notes
Debt and Financial Instruments [Line Items]
Issue date	Jun. 09, 2014
Principal amount	$ 1,000
Mature date	Jun. 09, 2019
Effective interest rate	3.00%
2020 Notes
Debt and Financial Instruments [Line Items]
Issue date	Jun. 30, 2015
Principal amount	$ 750
Mature date	Jun. 30, 2020
Effective interest rate	3.13%
2025 Notes
Debt and Financial Instruments [Line Items]
Issue date	Jun. 30, 2015
Principal amount	$ 500
Mature date	Jun. 30, 2025
Effective interest rate	4.22%
2022 Five-year Notes
Debt and Financial Instruments [Line Items]
Issue date	Jul. 06, 2017
Principal amount	$ 900
Mature date	Jul. 06, 2022
Effective interest rate	3.08%
2027 Notes
Debt and Financial Instruments [Line Items]
Issue date	Jul. 06, 2017
Principal amount	$ 600
Mature date	Jul. 06, 2027
Effective interest rate	3.73%
2023 Notes
Debt and Financial Instruments [Line Items]
Issue date	Mar. 29, 2018
Principal amount	$ 1,000
Mature date	Sep. 29, 2023
Effective interest rate	3.99%
2028 March Notes
Debt and Financial Instruments [Line Items]
Issue date	Mar. 29, 2018
Principal amount	$ 500
Mature date	Mar. 29, 2028
Effective interest rate	4.50%
2024 Notes
Debt and Financial Instruments [Line Items]
Issue date	Nov. 14, 2018
Principal amount	$ 850
Mature date	May 14, 2024
2024 Notes \| Minimum [Member]
Debt and Financial Instruments [Line Items]
Effective interest rate	4.51%
2024 Notes \| Maximum [Member]
Debt and Financial Instruments [Line Items]
Effective interest rate	4.54%
2028 November Notes
Debt and Financial Instruments [Line Items]
Issue date	Nov. 14, 2018
Principal amount	$ 400
Mature date	Nov. 14, 2028
Effective interest rate	4.99%

Notes Payable - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Debt instrument redemption price percentage	100.00%
2024 Notes Issued On November 2018
Debt Instrument [Line Items]
Principal amount	$ 600
2024 Notes Issued On December 2018
Debt Instrument [Line Items]
Interest rate	4.38%
Principal amount	$ 250
2017 Notes
Debt Instrument [Line Items]
Interest rate	2.25%
Payment frequency of debt interest	semi-annually
2022 Ten-year Notes
Debt Instrument [Line Items]
Interest rate	3.50%
Payment frequency of debt interest	semi-annually
Principal amount	$ 750
2018 Notes
Debt Instrument [Line Items]
Interest rate	3.25%
Payment frequency of debt interest	semi-annually
Principal amount	$ 1,000
2019 Notes
Debt Instrument [Line Items]
Interest rate	2.75%
Payment frequency of debt interest	semi-annually
Principal amount	$ 1,000
2020 Notes
Debt Instrument [Line Items]
Interest rate	3.00%
Principal amount	$ 750
2025 Notes
Debt Instrument [Line Items]
Interest rate	4.13%
Principal amount	$ 500
2020 Notes and 2025 Notes
Debt Instrument [Line Items]
Payment frequency of debt interest	semi-annually
2022 Five-year Notes
Debt Instrument [Line Items]
Interest rate	2.88%
Principal amount	$ 900
2027 Notes
Debt Instrument [Line Items]
Interest rate	3.63%
Principal amount	$ 600
2022 Five-year Notes and 2027 Notes
Debt Instrument [Line Items]
Payment frequency of debt interest	semi-annually
2023 Notes
Debt Instrument [Line Items]
Interest rate	3.88%
Principal amount	$ 1,000
2028 March Notes
Debt Instrument [Line Items]
Interest rate	4.38%
Principal amount	$ 500
2023 Notes and 2028 March Notes
Debt Instrument [Line Items]
Payment frequency of debt interest	semi-annually
2028 November Notes
Debt Instrument [Line Items]
Interest rate	4.88%
Principal amount	$ 400
2024 and 2028 November Notes
Debt Instrument [Line Items]
Payment frequency of debt interest	semi-annually
2024 December Notes
Debt Instrument [Line Items]
Discount on debt issued	$ 18
Debt issuance cost	$ 30

Principal Amount and Unamortized Discount and Debt Issuance Costs (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Debt Disclosure [Abstract]
Principal amount	¥ 43,519	$ 6,251	¥ 49,867
Unamortized discount and debt issuance costs	(210)	(30)	(261)
Long-term Debt, Total	¥ 43,309	$ 6,221	¥ 49,606

Repayment of Principal Amount of Long Term Debts (Detail) - Dec. 31, 2019 - Long Term Debt ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Long Term Debt Maturities Repayments Of Principal [Line Items]
2020	¥ 5,987	$ 860
2021	7,902	1,135
2022	11,487	1,650
2023	6,962	1,000
2024	5,918	850
Thereafter	¥ 13,924	$ 2,000

Convertible Notes - Additional Information (Detail) ¥ in Millions, $ in Millions		1 Months Ended		3 Months Ended	12 Months Ended
	Oct. 26, 2017 USD ($) shares	Dec. 31, 2018 CNY (¥) $ / A	Jan. 31, 2017 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2019 CNY (¥) $ / A	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥) $ / A	Dec. 31, 2017 CNY (¥)	Dec. 31, 2019 USD ($) $ / A	Dec. 31, 2018 USD ($) $ / A
Debt Instrument [Line Items]
Principal amount of notes payable		¥ 49,867			¥ 43,519		¥ 49,867		$ 6,251
Debt Carrying Amount Net of unamortized debt discount		¥ 49,606			43,309		49,606		6,221
Interest coupon and amortization of the discount on the liability component					2,960	$ 425	¥ 1,883	¥ 1,615
Debt maturities repayments					5,200				750
Debt maturities repayments					¥ 8,400				1,200
iQIYI 2018 Convertible Notes
Debt Instrument [Line Items]
Debt face amount			$ 1,500
Interest rate			1.50%
Debt, maturity date			Jan. 25, 2018
iQIYI 2018 Convertible Notes \| Parent Company
Debt Instrument [Line Items]
Debt face amount			$ 300
iQIYI 2018 Convertible Notes \| External Investors
Debt Instrument [Line Items]
Debt face amount			$ 1,200
iQIYI 2023 Convertible Notes
Debt Instrument [Line Items]
Debt face amount										$ 750
Interest rate		3.75%					3.75%			3.75%
Debt, maturity date		Dec. 01, 2023
Debt, put date					Dec. 01, 2021	Dec. 01, 2021
Conversion rate of convertible notes, ADS per US$1,000		37.1830
Effective interest rate		7.04%					7.04%			7.04%
Principal amount of liability component									$ 750
Remaining Accretion Period					1 year 11 months 1 day	1 year 11 months 1 day
Debt Instrument Frequency Of Periodic Interest Payment		interest is payable semi-annually
Percentage of principal amount of debt redeemed					100.00%	100.00%
iQIYI 2023 Convertible Notes \| Call Option [Member]
Debt Instrument [Line Items]
Debt face amount										$ 68
Call option cap price \| $ / A		38.42					38.42			38.42
iQIYI 2025 Convertible Notes
Debt Instrument [Line Items]
Debt face amount				$ 1,200
Interest rate				2.00%
Debt, maturity date					Apr. 01, 2025	Apr. 01, 2025
Debt, put date					Apr. 01, 2023	Apr. 01, 2023
Conversion rate of convertible notes, ADS per US$1,000					33.0003	33.0003
Effective interest rate					6.01%				6.01%
Principal amount of liability component									$ 1,200
Remaining Accretion Period					3 years 3 months	3 years 3 months
Debt Instrument Frequency Of Periodic Interest Payment				interest is payable semi-annually
Percentage of principal amount of debt redeemed					100.00%	100.00%
iQIYI 2025 Convertible Notes \| Call Option [Member]
Debt Instrument [Line Items]
Debt face amount									$ 85
Call option cap price \| $ / A					40.02				40.02
iQIYI The 2023 Convertible Notes and The 2025 Convertible Notes collectively
Debt Instrument [Line Items]
Principal amount of notes payable		¥ 5,200			¥ 13,600		¥ 5,200		$ 2,000
Unamortized debt discount		446			1,300		446		184
Carrying amount of equity component		362			1,300		362		194
Debt Carrying Amount Net of unamortized debt discount		¥ 4,700			12,300		4,700		$ 1,800
iQIYI The 2023 Convertible Notes and The 2025 Convertible Notes collectively \| Senior Convertible Notes
Debt Instrument [Line Items]
Interest coupon and amortization of the discount on the liability component					¥ 670	$ 96	¥ 24
Preferred Stock \| iQIYI 2018 Convertible Notes
Debt Instrument [Line Items]
Notes converted to preferred shares	$ 1,500
Preferred shares converted by iQIYI 2018 Convertible Notes \| shares	1,014,436,019

Leases -Summary of Supplemental cash flow information (Detail) - 12 months ended Dec. 31, 2019 ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Leases [Abstract]
Cash payments for operating leases	¥ 2,631	$ 378
ROU assets obtained in exchange for operating lease liabilities	¥ 3,896	$ 560

Leases -Summary of Future lease payments (Detail) - Dec. 31, 2019 ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Leases [Abstract]
2020	¥ 2,350	$ 337
2021	1,705	245
2022	1,307	188
2023	1,080	155
2024	628	90
Thereafter	395	57
Total future lease payments	7,465	1,072
Less: Imputed interest	696	100
Total lease liability balance	¥ 6,769	$ 972

Leases - Additional Information (Detail) - 12 months ended Dec. 31, 2019 ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Leases [Abstract]
Operating lease, weighted average remaining lease term	6 years 3 months 18 days	6 years 3 months 18 days
Operating lease, weighted average discount rate	4.45%	4.45%
Lease Term Of Contract	12 months	12 months
Operating lease cost	¥ 2,700	$ 382
Short-term lease cost	434	$ 62
Lease costs capitalized	¥ 0

Income Taxes - Additional Information (Detail) ¥ in Millions, $ in Billions	12 Months Ended				36 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2013 CNY (¥)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)
Income Taxes [Line Items]
Unified statutory income tax rate under current EIT law	25.00%
PRC statutory withholding tax rate to which dividends paid by a FIE to any of its foreign non-resident enterprise investors	10.00%
PRC special withholding tax rate to which dividends paid by a FIE to its foreign non-resident enterprise investors in Hong Kong	5.00%
Statutory withholding tax rate for capital gains	10.00%
Net losses deriving from entities in the PRC, Hong Kong and Japan	¥ 9,900				¥ 9,900	$ 1.4
Accrued withholding tax	1,000			¥ 581
Undistributed earnings no withholding tax has accrued	¥ 145,900				¥ 145,900	$ 21.0
High And New Technology Enterprise
Income Taxes [Line Items]
A preferential enterprise income tax rate	15.00%
Preferential enterprise income tax rate, effective period	3 years
Net operating loss carryforward period	10 years
Key Software Enterprise
Income Taxes [Line Items]
A preferential enterprise income tax rate	10.00%
PRC
Income Taxes [Line Items]
Net operating loss carryforward period	5 years
Net operating loss carryforwards begins to expire	2020
PRC \| Maximum
Income Taxes [Line Items]
Time period that tax authorities could conduct examinations of entity's tax filings	5 years
PRC \| Earliest Tax Year
Income Taxes [Line Items]
Tax years remain open to examination by respective taxing jurisdictions	2014
PRC \| Latest Tax Year
Income Taxes [Line Items]
Tax years remain open to examination by respective taxing jurisdictions	2019
Japan
Income Taxes [Line Items]
Net operating loss carryforward period	9 years
Net operating loss carryforwards begins to expire	2020
Baidu HK
Income Taxes [Line Items]
Income tax rate	16.50%
Baidu Japan
Income Taxes [Line Items]
Income tax rate	31.00%	31.00%	32.00%
Baidu Online \| Key Software Enterprise
Income Taxes [Line Items]
A preferential enterprise income tax rate		10.00%	10.00%
Baidu China \| Key Software Enterprise
Income Taxes [Line Items]
A preferential enterprise income tax rate		10.00%	10.00%
Baidu International \| Key Software Enterprise
Income Taxes [Line Items]
A preferential enterprise income tax rate		10.00%	10.00%
Certain PRC Subsidiaries and VIEs \| High And New Technology Enterprise
Income Taxes [Line Items]
A preferential enterprise income tax rate					15.00%
Certain PRC Subsidiaries and VIEs \| High And New Technology Enterprise \| Expiration Period One
Income Taxes [Line Items]
Tax holiday, expiration year	2020
Certain PRC Subsidiaries and VIEs \| High And New Technology Enterprise \| Expiration Period Two
Income Taxes [Line Items]
Tax holiday, expiration year	2021
Certain PRC Subsidiaries and VIEs \| High And New Technology Enterprise \| Expiration Period Three
Income Taxes [Line Items]
Tax holiday, expiration year	2022

Income Before Income Taxes (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Income Loss From Continuing Operations Before Income Taxes Minority Interest By Jurisdiction [Abstract]
PRC	¥ 13,076	$ 1,878	¥ 23,524	¥ 22,088
Non-PRC	(13,416)	(1,927)	3,801	(805)
Income (loss) before income taxes	¥ (340)	$ (49)	¥ 27,325	¥ 21,283

Components of Income Tax (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Income Tax Disclosure [Abstract]
Current income tax	¥ 3,564	$ 511	¥ 6,184	¥ 4,224
Income tax refund due to reduced tax rate	(920)	(132)	(680)	(473)
Adjustments of deferred tax assets due to change in tax rates	9	1		7
Deferred income tax benefit	(705)	(101)	(761)	(763)
Taxation for the year	¥ 1,948	$ 279	¥ 4,743	¥ 2,995

Reconciliation of Effective Income Tax Provision of Tax Computed By Applying Statutory Income Tax Rate to Pre-Tax Income (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥) ¥ / shares	Dec. 31, 2019 USD ($) $ / shares	Dec. 31, 2018 CNY (¥) ¥ / shares	Dec. 31, 2017 CNY (¥) ¥ / shares
Income Tax Disclosure [Abstract]
Expected taxation at PRC statutory tax rate	¥ (85)	$ (12)	¥ 6,831	¥ 5,321
Effect of differing tax rates in different jurisdictions	3,299	474	493	854
Non-taxable income	(419)	(60)	(1,555)	(913)
Non-deductible expenses	2,124	305	935	653
Research and development super-deduction	(1,245)	(179)	(1,047)	(905)
Effect of PRC preferential tax rates and tax holiday	(1,327)	(191)	(2,250)	(2,095)
Effect of tax rate changes on deferred taxes	9	1	0	7
Reversal of prior year's EIT	(1,134)	(163)	(616)	(579)
PRC withholding tax	(224)	(32)	553	101
Addition to valuation allowance	950	136	1,399	551
Taxation for the year	¥ 1,948	$ 279	¥ 4,743	¥ 2,995
Effective tax rate	(573.00%)	(573.00%)	17.00%	14.00%
Effect of preferential tax rates inside the PRC on basic earnings per Class A and Class B ordinary share \| (per share)	¥ 38.09	$ 5.47	¥ 64.47	¥ 60.33

Tax Effects of Temporary Differences that Gave Rise to Deferred Tax Balances (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Deferred tax assets:
Provision for doubtful receivables	¥ 332	$ 48	¥ 252
Accrued expenses, payroll and others	4,820	692	4,284
Fixed assets depreciation	151	22	60
Net operating loss carry-forward	1,733	249	1,609
Less: valuation allowance	(4,843)	(696)	(3,881)
Deferred tax assets, net	2,193	315	2,324
Deferred tax liabilities:
Long-lived assets arising from acquisitions	275	40	360
Withholding tax on PRC subsidiaries' undistributed earnings	1,621	233	619
Tax on capital gains	1,159	166	2,778
Other	218	31	342
Deferred tax liabilities	¥ 3,273	$ 470	¥ 4,099

Employee Defined Combination Plan - Additional Information (Detail) $ in Millions, ¥ in Billions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Defined Contribution Plan [Abstract]
Amounts incurred for employee defined contribution plan	¥ 3.2	$ 464	¥ 2.9	¥ 2.6

Commitment and Contingencies - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Network Infrastructure and Buildings
Commitments and Contingencies Disclosure [Line Items]
Capital commitments contracted not yet reflected in financial statements	¥ 560		$ 81
Obligations related to the entity's directors and officers
Commitments and Contingencies Disclosure [Line Items]
Investment commitments	1,300	$ 183
Fair value of indemnification obligations related to the entity's directors and officers	¥ 0			¥ 0

Future Minimum Payments Under Non-Cancelable Operating Leases with Initial Terms of One-Year or More (Detail) - Dec. 31, 2019 ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Future Minimum Payments Under Noncancelable Agreements For Bandwidth And Property Management Fees [Abstract]
2020	¥ 652	$ 94
2021	109	16
2022	77	11
2023	65	9
2024	63	9
Thereafter	63	9
Total Future minimum payments under non-cancelable agreements for bandwidth and property management fees	¥ 1,029	$ 148

Future Minimum Lease Payments For Non-Cancelable Agreements For Licensed Copyrights and Produced Content (Detail) - Dec. 31, 2019 - Licensed copyrights ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Commitment And Contingencies [Line Items]
2020	¥ 8,935	$ 1,284
2021	6,496	933
2022	4,246	610
2023	1,534	220
2024	774	111
Thereafter	315	45
Future Minimum Payments Under Non-Cancelable Licensing agreements	¥ 22,300	$ 3,203

Summary of Redeemable Noncontrolling Interest (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Temporary Equity Disclosure [Abstract]
Balance as of January 1	¥ 716	$ 104	¥ 11,022	¥ 5,492
Business combination (Note 3)	182	26	698
Other comprehensive (loss)				(335)
Issuance of subsidiary shares	100	14
Disposal of subsidiary shares				(2,376)
Accretion of redeemable noncontrolling interests	111	15	146	(17)
Conversion of convertible notes of iQIYI				8,258
Conversion of iQIYI preferred shares recognized as redeemable noncontrolling interests to ordinary shares			(11,150)
Balance as of December 31	¥ 1,109	$ 159	¥ 716	¥ 11,022

Redeemable Noncontrolling Interests - Additional Information (Detail) - USD ($) $ in Millions		1 Months Ended
	Oct. 26, 2017	May 31, 2016	Oct. 31, 2015	Nov. 30, 2014	Dec. 31, 2019	Dec. 31, 2018	Oct. 31, 2018
Subsidary Two [Member]
Temporary Equity Disclosure [Abstract]
Outstanding preference shares							159,820,917
Preferred Stock
Temporary Equity Disclosure [Abstract]
Preferred stock, shares issued					0	0
Outstanding preference shares					0	0
iQIYI
Temporary Equity Disclosure [Abstract]
Preferred shares financing				$ 300
iQIYI \| Convertible notes (the"iQIYI Notes") \| Preferred Stock
Temporary Equity Disclosure [Abstract]
Notes converted to preferred shares	$ 1,200
Xiaodu Life Technology Ltd
Temporary Equity Disclosure [Abstract]
Preferred shares financing		$ 100	$ 250
Preferred stock, shares issued		42,105,264	250,000,000

Shareholder's Equity - Additional Information (Detail) $ / shares in Units, ¥ in Millions, $ in Millions			1 Months Ended		12 Months Ended
	Jun. 27, 2018 USD ($)	Oct. 29, 2015 USD ($)	Oct. 31, 2019 CNY (¥)	Oct. 31, 2019 USD ($)	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 CNY (¥) shares	Dec. 31, 2017 CNY (¥) shares	Dec. 31, 2019 USD ($) $ / shares shares	May 16, 2019 USD ($)	Dec. 31, 2018 $ / shares
Stockholders Equity Note [Line Items]
Common stock, shares authorized					870,400,000				870,400,000
Par value per share (US$) \| $ / shares									$ 0.00005
Transfer of Class B ordinary shares to Class A Ordinary shares					0	0	0	200,000
Stock repurchase program, proposed aggregate value \| $	$ 1,000	$ 2,000								$ 1,000
Stock repurchase program, period	12 months	24 months
Number of Class A ordinary shares repurchased					664,534	664,534	207,165	145,783
Aggregate purchase price					¥ 4,958	$ 712	¥ 3,312	¥ 1,724
Allocation of after-tax profits to statutory surplus fund, percentage					10.00%	10.00%
Limit of statutory surplus fund as a percentage of registered capital, after which allocations to statutory surplus fund are no longer required					50.00%	50.00%
Amounts of restricted paid up capital and statutory reserve funds of PRC subsidiaries and net assets of VIEs					¥ 40,800		¥ 25,700		$ 5,900
Trip.com International, Ltd
Stockholders Equity Note [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss)			¥ 989	$ 142
Preferred Stock
Stockholders Equity Note [Line Items]
Par value per share (US$) \| $ / shares									$ 0.00005
Preferred stock, shares authorized					10,000,000				10,000,000
Preferred stock, shares issued					0		0		0
Preferred stock, shares outstanding					0		0		0
Class A Ordinary Shares
Stockholders Equity Note [Line Items]
Common stock, shares authorized					825,000,000		825,000,000		825,000,000
Par value per share (US$) \| $ / shares									$ 0.00005		$ 0.00005
Number of votes per share					one	one
Common stock, shares outstanding					27,381,621		27,733,692		27,381,621
Class B Ordinary Shares
Stockholders Equity Note [Line Items]
Common stock, shares authorized					35,400,000		35,400,000		35,400,000
Par value per share (US$) \| $ / shares									$ 0.00005		$ 0.00005
Number of votes per share					ten	ten
Common stock, shares outstanding					7,201,254		7,201,254		7,201,254

Shareholders' Equity (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Cumulative Effect on Retained Earnings, Net of Tax [Abstract]
PRC statutory reserve funds	¥ 626	$ 90	¥ 515
Unreserved retained earnings	125,642	18,047	128,731
Total retained earnings	¥ 126,268	$ 18,137	¥ 129,246

Changes in Accumulated Other Comprehensive Income/(Loss) by Component, Net of Tax (Detail)
¥ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2019

CNY (¥)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2017

CNY (¥)

Accumulated Other Comprehensive Income (Loss) [Line Items]

Balances

¥ 175,036

¥ 119,350

¥ 92,251

Cumulative effect of accounting change*

933

Net current-period other comprehensive income (loss)

(1,490)

$ (215)

286

2,378

Balances

171,706

24,663

175,036

119,350

Foreign currency translation adjustment

Accumulated Other Comprehensive Income (Loss) [Line Items]

Balances

(1,700)

(888)

(2,026)

Other comprehensive income (loss) before reclassification

207

114

732

Amounts reclassified from accumulated other comprehensive income (loss)

(989)

Net current-period other comprehensive income (loss)

(782)

194

803

Other comprehensive loss (income) attribute to noncontrolling interests and redeemable noncontrolling interests

(102)

(1,006)

335

Balances

(2,584)

(372)

(1,700)

(888)

Unrealized gains on available- for-sale investments

Accumulated Other Comprehensive Income (Loss) [Line Items]

Balances

1,910

1,818

243

Cumulative effect of accounting change*

^[1]

(1,854)

Other comprehensive income (loss) before reclassification

1,981

4,117

2,574

Amounts reclassified from accumulated other comprehensive income (loss)

(2,689)

(2,171)

(999)

Net current-period other comprehensive income (loss)

(708)

1,575

Other comprehensive loss (income) attribute to noncontrolling interests and redeemable noncontrolling interests

(1)

Balances

1,201

173

1,910

1,818

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income (Loss) [Line Items]

Balances

210

930

(1,783)

Cumulative effect of accounting change*

^[1]

(1,854)

Other comprehensive income (loss) before reclassification

2,188

4,231

3,306

Amounts reclassified from accumulated other comprehensive income (loss)

(3,678)

(2,091)

(928)

Net current-period other comprehensive income (loss)

(1,490)

286

2,378

Other comprehensive loss (income) attribute to noncontrolling interests and redeemable noncontrolling interests

(103)

(1,006)

335

Balances

¥ (1,383)

$ (199)

¥ 210

¥ 930

[1]	Adjustment of net unrealized gains related to available-for-sale equity investments from accumulated other comprehensive income to opening retained earnings as a result of the adoption of ASC 321 on January 1, 2018.

Tax Benefit (expense) Allocated to each Component of Other Comprehensive Income (loss) (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Other Comprehensive Income (Loss), Tax [Abstract]
Other comprehensive income (loss) before reclassification	¥ (280)	$ (40)	¥ (409)	¥ (215)
Amounts reclassified from accumulated other comprehensive income (loss)	402	58	328	163
Net current-period other comprehensive income (loss)	¥ 122	$ 18	¥ (81)	¥ (52)

Reconciliation of Net Income to Numerator for Computation of Basic and Diluted Per Share (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Net Income (Loss) Available to Common Stockholders, Basic [Abstract]
Net income attributable to Baidu, Inc.	¥ 2,057	$ 296	¥ 27,573	¥ 18,301
Accretion of the redeemable noncontrolling interests	(77)	(11)	(130)	17
Numerator for basic EPS computation	1,980	285	27,443	18,318
Impact of subsidiaries' and investees' diluted earnings per share	(28)	(4)
Numerator for diluted EPS calculation	¥ 1,952	$ 281	¥ 27,443	¥ 18,318

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Computation of Basic and Diluted Earnings Per Class A and Class B Ordinary Share (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥) ¥ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 CNY (¥) ¥ / shares shares	Dec. 31, 2017 CNY (¥) ¥ / shares shares
Numerator
Allocation of net income attributable to Baidu, Inc.	¥ 1,980	$ 285	¥ 27,443	¥ 18,318
Numerator
Numerator for diluted EPS calculation	1,952	281	27,443	18,318
Class A Ordinary Shares
Numerator
Allocation of net income attributable to Baidu, Inc.	¥ 1,571	$ 226	¥ 21,780	¥ 14,488
Denominator
Denominator used for basic EPS	27,633,243	27,633,243	27,697,335	27,464,760
Earnings per share - basic \| (per share)	¥ 56.84	$ 8.16	¥ 786.36	¥ 527.51
Numerator
Allocation of net income attributable to Baidu, Inc. for diluted computation	¥ 1,549	$ 223	¥ 21,824	¥ 14,513
Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares	403	58	5,619	3,805
Numerator for diluted EPS calculation	¥ 1,952	$ 281	¥ 27,443	¥ 18,318
Denominator
Weighted average ordinary shares outstanding	27,633,243	27,633,243	27,697,335	27,464,760
Conversion of Class B to Class A ordinary shares	7,201,254	7,201,254	7,201,254	7,260,363
Share-based awards	50,357	50,357	272,454	227,268
Denominator used for diluted EPS	34,884,854	34,884,854	35,171,043	34,952,391
Earnings per share - diluted \| (per share)	¥ 55.96	$ 8.04	¥ 780.27	¥ 524.08
Class A Ordinary Shares \| American Depositary Shares
Denominator
Denominator used for basic EPS	276,332,430	276,332,430	276,973,350	274,647,600
Earnings per share - basic \| (per share)	¥ 5.68	$ 0.82	¥ 78.64	¥ 52.75
Denominator
Weighted average ordinary shares outstanding	276,332,430	276,332,430	276,973,350	274,647,600
Denominator used for diluted EPS	348,848,540	348,848,540	351,710,430	349,523,907
Earnings per share - diluted \| (per share)	¥ 5.60	$ 0.80	¥ 78.03	¥ 52.41
Class B Ordinary Shares
Numerator
Allocation of net income attributable to Baidu, Inc.	¥ 409	$ 59	¥ 5,663	¥ 3,830
Denominator
Denominator used for basic EPS	7,201,254	7,201,254	7,201,254	7,260,363
Earnings per share - basic \| (per share)	¥ 56.84	$ 8.16	¥ 786.36	¥ 527.51
Numerator
Allocation of net income attributable to Baidu, Inc. for diluted computation	¥ 403	$ 58	¥ 5,619	¥ 3,805
Numerator for diluted EPS calculation	¥ 403	$ 58	¥ 5,619	¥ 3,805
Denominator
Weighted average ordinary shares outstanding	7,201,254	7,201,254	7,201,254	7,260,363
Denominator used for diluted EPS	7,201,254	7,201,254	7,201,254	7,260,363
Earnings per share - diluted \| (per share)	¥ 55.96	$ 8.04	¥ 780.27	¥ 524.08

Share-Based Awards Plan - Additional Information of Baidu, Inc. (Detail) $ / shares in Units, ¥ in Millions, $ in Millions	1 Months Ended			12 Months Ended
	Jul. 31, 2018 shares	Nov. 30, 2017 shares	Oct. 31, 2010	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 USD ($) $ / shares	Dec. 31, 2018 CNY (¥)	Dec. 31, 2018 $ / shares	Dec. 31, 2017 CNY (¥)	Dec. 31, 2017 $ / shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2008 shares
Parent Company
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of voting power				10.00%	10.00%
The weighted-average grant-date fair value of restricted shares granted during respective years \| $ / shares					$ 1,276
Parent Company \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised				¥ 77	$ 11	¥ 474		¥ 403
Total fair value of options vested				216	$ 31	956		195
Unrecognized share-based compensation cost				¥ 439						$ 63
A weighted-average vesting period over which the deferred cost is expected to be recognized				2 years 7 months 6 days	2 years 7 months 6 days
The weighted-average grant-date fair value of options granted during respective years \| $ / shares					$ 384		$ 1,029		$ 747
Parent Company \| Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vesting term				4 years	4 years
Parent Company \| Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vesting term				2 years	2 years
Parent Company \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation cost				¥ 7,200						$ 1,000
A weighted-average vesting period over which the deferred cost is expected to be recognized				3 years 1 month 6 days	3 years 1 month 6 days
Total fair value of shares vested during respective years, restricted shares				¥ 4,100	$ 593	¥ 3,400		¥ 2,100
The weighted-average grant-date fair value of restricted shares granted during respective years \| $ / shares					$ 1,276		$ 2,232		$ 1,978
Parent Company \| Employee Holding More Than Ten Percent Voting Power \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of the fair market value of the entity's ordinary shares				110.00%						110.00%
Parent Company \| 2008 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance											3,428,777
Parent Company \| 2008 Plan \| Employee Holding No More Than Ten Percent Voting Power \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term of share-based awards granted				10 years	10 years
Parent Company \| 2008 Plan \| Employee Holding More Than Ten Percent Voting Power \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term of share-based awards granted				5 years	5 years
Parent Company \| Stock Incentive Plan 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance	3,443,950
Contractual term of share-based awards granted	10 years
iQIYI \| 2010 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance				589,729,714						589,729,714
Contractual term of share-based awards granted			10 years
Shares vesting term				4 years	4 years
Unrecognized share-based compensation cost				¥ 2,200						$ 314
A weighted-average vesting period over which the deferred cost is expected to be recognized				2 years 9 months 18 days	2 years 9 months 18 days
iQIYI \| 2010 Equity Incentive Plan \| First Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights percentage				25.00%	25.00%
iQIYI \| 2010 Equity Incentive Plan \| Quarterly basis thereafter
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights percentage				75.00%	75.00%
iQIYI \| 2017 Stock Incentive Plan.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance		720,000
Contractual term of share-based awards granted		10 years

Option Activity Baidu. Inc (Detail) - Parent Company - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Number of shares
Outstanding, December 31, 2018	225,684
Granted	231,152
Exercised	(11,849)
Forfeited/Cancelled	(71,806)
Outstanding, December 31, 2019	373,181	225,684
Vested and expected to vest at December 31, 2019	297,956
Exercisable at December 31, 2019	122,933
Weighted average exercise price (US$)
Outstanding, December 31, 2018	$ 1,751
Granted	980
Exercised	221
Forfeited/Cancelled	1,715
Outstanding, December 31, 2019	1,329	$ 1,751
Vested and expected to vest at December 31, 2019	1,373
Exercisable at December 31, 2019	$ 1,777
Weighted average remaining contractual life (Years)
Outstanding, December 31, 2019	8 years	7 years
Vested and expected to vest at December 31, 2019	8 years
Exercisable at December 31, 2019	5 years
Aggregate intrinsic value (US$ in millions)
Outstanding, December 31, 2018	$ 40
Outstanding, December 31, 2019	72	$ 40
Vested and expected to vest at December 31, 2019	53
Exercisable at December 31, 2019	$ 7

Assumptions Used to Estimate Fair Values of Share Options Granted - Baidu, Inc. (Detail) - Parent Company	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Risk-free interest rate		2.57%
Risk-free interest rate, minimum	1.58%		1.81%
Risk-free interest rate, maximum	2.49%		2.08%
Dividend yield	0.00%	0.00%	0.00%
Expected volatility range, minimum	34.62%	34.47%	35.99%
Expected volatility range, maximum	35.14%	35.36%	38.41%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life	5 years 9 months 29 days	4 years 10 months 20 days	4 years 11 months 26 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life	6 years 10 days	6 years 3 months	6 years 3 days

Restricted Shares Activity (Detail) - Parent Company	12 Months Ended
Restricted Shares Activity (Detail) - Parent Company	Dec. 31, 2019 $ / shares shares
Restricted Shares Roll Forward - Number of Shares
Unvested, December 31, 2018 \| shares	791,444
Granted \| shares	1,122,857
Vested \| shares	(300,614)
Forfeited/Cancelled \| shares	(193,633)
Unvested, December 31, 2019 \| shares	1,420,054
Restricted Shares Roll Forward - Weighted Average Grant Date Fair Value
Unvested, December 31, 2018 \| $ / shares	$ 2,060
Granted \| $ / shares	1,276
Vested \| $ / shares	1,972
Forfeited/Cancelled \| $ / shares	1,860
Unvested, December 31, 2019 \| $ / shares	$ 1,486

Share-Based Awards Plan - Option Activity (Detail) - iQIYI - 2010 Equity Incentive Plan - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Number of shares
Outstanding, December 31, 2018	380,579,031
Granted	94,625,573
Forfeited	(8,855,266)
Exercised	(59,436,720)
Outstanding, December 31, 2019	406,912,618	380,579,031
Vested and expected to vest at December 31, 2019	385,280,004
Exercisable at December 31, 2019	211,537,760
Weighted average exercise price (US$)
Outstanding, December 31, 2018	$ 0.47
Granted	0.51
Forfeited	0.51
Exercised	0.37
Outstanding, December 31, 2019	0.48	$ 0.47
Vested and expected to vest at December 31, 2019	0.48
Exercisable at December 31, 2019	$ 0.45
Weighted average remaining contractual life (Years)
Outstanding, December 31, 2019	7 years	9 years
Vested and expected to vest at December 31, 2019	7 years
Exercisable at December 31, 2019	6 years
Aggregate intrinsic value (US$ in millions)
Outstanding, December 31, 2019	$ 1,031	$ 630
Vested and expected to vest at December 31, 2019	977
Exercisable at December 31, 2019	$ 542

Total Share-Based Compensation Cost Recognized (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	¥ 5,626	$ 808	¥ 4,676	¥ 3,244
iQIYI
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	1,085	156	556	233
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	327	47	224	183
Cost of revenues \| iQIYI
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	171	25	83	35
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	1,768	254	1,725	973
Selling, general and administrative \| iQIYI
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	676	97	369	131
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	3,531	507	2,727	2,088
Research and development \| iQIYI
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	¥ 238	$ 34	¥ 104	¥ 67

Related Party Transactions - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2017 USD ($)
Trip.com International, Ltd
Related Party Transaction [Line Items]
Related party transactions	¥ 627	$ 90	¥ 774	¥ 750
Du Xiaoman
Related Party Transaction [Line Items]
Related party transactions	731	105	256
Hardware Goods [Member]
Related Party Transaction [Line Items]
Purchases from related party	1,900	276	102		$ 0
Sales from related party	¥ 249	$ 36	¥ 77		$ 0

Related Party Transactions (Detail)
¥ in Millions, $ in Millions

Dec. 31, 2019

CNY (¥)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

CNY (¥)

Amounts due from related parties, current:

Amounts due from related parties, current

¥ 1,594

$ 229

¥ 785

Amounts due from related parties, non-current:

Amounts due from related parties, non-current

3,564

512

4,297

Amounts due to related parties, current:

Amounts due to related parties, current

2,231

320

1,727

Amounts due to related parties, non-current:

Amounts due to related parties, non-current

3,846

552

4,360

Trip

Amounts due from related parties, current:

Amounts due from related parties, current

^[1]

Amounts due to related parties, current:

Amounts due to related parties, current

^[2]

Du Xiaoman

Amounts due from related parties, current:

Amounts due from related parties, current

^[3]

737

106

Amounts due from related parties, non-current:

Amounts due from related parties, non-current

^[3]

3,391

487

3,884

Amounts due to related parties, current:

Amounts due to related parties, current

^[4]

973

140

934

Amounts due to related parties, non-current:

Amounts due to related parties, non-current

^[5]

3,430

493

3,729

Other Related Parties

Amounts due from related parties, current:

Amounts due from related parties, current

^[6]

416

325

Amounts due from related parties, non-current:

Amounts due from related parties, non-current

^[7]

173

413

Amounts due to related parties, current:

Amounts due to related parties, current

^[8]

484

107

Amounts due to related parties, non-current:

Amounts due to related parties, non-current

^[9]

Investee A [Member]

Amounts due from related parties, current:

Amounts due from related parties, current

^[10],[11]

345

325

Amounts due to related parties, current:

Amounts due to related parties, current

^[12]

476

488

Investee B [Member]

Amounts due to related parties, current:

Amounts due to related parties, current

^[13]

249

186

Amounts due to related parties, non-current:

Amounts due to related parties, non-current

^[14]

¥ 410

$ 58

¥ 631

[1]	The balances mainly represent amounts arising from services the Company provided to Trip.
[2]	The balances mainly represent amounts arising from services provided by Trip.
[3]	The balance represents long-term loans due from Du Xiaoman with interest rate ranging from 4.28% to 5.00% in 2018, and 0.00% to 0.50% in 2019, based on the agreement re-entered into in 2019, and amounts arising from services the Company provided to Du Xiaoman. In 2018, the Company provided long-term loan in the amount of RMB 500 million to Du Xiaoman, which were reclassified to current liability within one year as of December 31, 2019 with interest rate 5.00%.
[4]	The balance represents amount due to Du Xiaoman arising from services provided by Du Xiaoman to the Company in the ordinary course of business and for other unsettled payments, and loans provided by Du Xiaoman.
[5]	The balance represents mainly long-term loans provided by Du Xiaoman with interest rates ranging from 3.78% and 4.28%, respectively, and maturing at November 13, 2021 and August 24, 2023, respectively. In 2019, interest rates were revised to 0.00%.
[6]	The balances mainly represent amounts arising from services the Company provided to its investees in ordinary course of business.
[7]	The balance consists of amount due from the Company’s investees in the ordinary course of business.
[8]	The balances mainly represent amounts arising from services provided by the Company’s investees.
[9]	The balance represents mainly deferred revenue relating to the future services to be provided over 7 years by the Company to investees.
[10]	The balances mainly represent an interest-bearing loan provided to Investee A, which is an equity investee. The Company is in the process of acquiring the equity interest that it does not currently own for approximately US$300 million. If the transaction is completed, Investee A will become a subsidiary of the Company.
[11]	The balances mainly represent an interest-bearing loan provided to Investee A.
[12]	The balances mainly represent amounts arising from hardware products purchased from Investee A, and an interest-bearing loan provided by the Investee A.
[13]	The balances mainly represent deferred revenue relating to the future services to be provided by the Company to Investee B which is an equity method investment investee.
[14]	The balances mainly represent deferred revenue relating to the future services to be provided by the Company to Investee B.

Related Party Transactions (Parenthetical) (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Related Party Transaction [Line Items]
Deferred revenue, remaining performance obligation, expected timing of satisfaction	7 years	7 years
Business Combination, Consideration Transferred	¥ 1,200	$ 168
Du Xiaoman
Related Party Transaction [Line Items]
Long-term interest-bearing loan receivable \| ¥			¥ 500
Long term due date, Start	Nov. 13, 2021	Nov. 13, 2021
Long term due date, End	Aug. 24, 2023	Aug. 24, 2023
Du Xiaoman \| November Thirteen Two Thousand Twenty One Long Term Loans [Member] \| Previously Reported [Member]
Related Party Transaction [Line Items]
Long term loans, interest rate			3.78%
Du Xiaoman \| November Thirteen Two Thousand Twenty One Long Term Loans [Member] \| Currently Stated [Member]
Related Party Transaction [Line Items]
Long term loans, interest rate	0.00%	0.00%
Du Xiaoman \| August Twenty Four Two Thousand Twenty Three Long Term Loan [Member] \| Previously Reported [Member]
Related Party Transaction [Line Items]
Long term loans, interest rate			4.28%
Du Xiaoman \| August Twenty Four Two Thousand Twenty Three Long Term Loan [Member] \| Currently Stated [Member]
Related Party Transaction [Line Items]
Long term loans, interest rate	0.00%	0.00%
Service Provided
Related Party Transaction [Line Items]
Long term loans, interest rate	5.00%	5.00%
Investee A
Related Party Transaction [Line Items]
Business Combination, Consideration Transferred \| $		$ 300
Minimum \| Service Provided \| Du Xiaoman
Related Party Transaction [Line Items]
Long term loans, interest rate	0.00%	0.00%	4.28%
Maximum \| Service Provided \| Du Xiaoman
Related Party Transaction [Line Items]
Long term loans, interest rate	0.50%	0.50%	5.00%

Segment Reporting - Additional Information (Detail)	12 Months Ended
Segment Reporting - Additional Information (Detail)	Dec. 31, 2019
Segment Reporting [Abstract]
Number of operating segments	2

Summary of Group's Operating Segment Results (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Segment Reporting Information [Line Items]
Total revenues				¥ 84,809
Total revenues	¥ 107,413	$ 15,429	¥ 102,277
Operating costs and expenses:
Cost of revenues	62,850	9,028	51,744	43,062
Selling, general and administrative	19,910	2,860	19,231	13,128
Research and development	18,346	2,635	15,772	12,928
Total operating costs and expenses	101,106	14,523	86,747	69,118
Operating profit (loss)	6,307	906	15,530	15,691
Total other income (loss), net	(6,647)	(955)	11,795	5,592
Income (loss) before income taxes	(340)	(49)	27,325	21,283
Income taxes	1,948	279	4,743	2,995
Net income (loss)	(2,288)	(328)	22,582	18,288
Less: net (loss) income attributable to noncontrolling interests	(4,345)	(624)	(4,991)	(13)
Net income (loss) attributable to Baidu, Inc.	2,057	296	27,573	18,301
Operating Segments \| Baidu Core
Segment Reporting Information [Line Items]
Total revenues				67,681
Total revenues	79,711	11,450	78,271
Operating costs and expenses:
Cost of revenues	34,019	4,887	25,370	25,688
Selling, general and administrative	14,733	2,116	15,310	10,586
Research and development	15,698	2,255	13,783	11,692
Total operating costs and expenses	64,450	9,258	54,463	47,966
Operating profit (loss)	15,261	2,192	23,808	19,715
Total other income (loss), net	(5,680)	(816)	13,169	5,385
Income (loss) before income taxes	9,581	1,376	36,977	25,100
Income taxes	1,896	272	4,664	3,001
Net income (loss)	7,685	1,104	32,313	22,099
Less: net (loss) income attributable to noncontrolling interests	105	15	(1,292)	(9)
Net income (loss) attributable to Baidu, Inc.	7,580	1,089	33,605	22,108
Operating Segments \| iQIYI
Segment Reporting Information [Line Items]
Total revenues				17,378
Total revenues	28,994	4,165	24,989
Operating costs and expenses:
Cost of revenues	30,348	4,359	27,133	17,386
Selling, general and administrative	5,237	753	4,168	2,675
Research and development	2,667	383	1,994	1,270
Total operating costs and expenses	38,252	5,495	33,295	21,331
Operating profit (loss)	(9,258)	(1,330)	(8,306)	(3,953)
Total other income (loss), net	(967)	(139)	(676)	208
Income (loss) before income taxes	(10,225)	(1,469)	(8,982)	(3,745)
Income taxes	52	7	79	(8)
Net income (loss)	(10,277)	(1,476)	(9,061)	(3,737)
Less: net (loss) income attributable to noncontrolling interests	46	7	49
Net income (loss) attributable to Baidu, Inc.	(10,323)	(1,483)	(9,110)	(3,737)
Intersegment Eliminations & Adjustments
Segment Reporting Information [Line Items]
Total revenues				(250)
Total revenues	(1,292)	(186)	(983)
Operating costs and expenses:
Cost of revenues	(1,517)	(218)	(759)	(12)
Selling, general and administrative	(60)	(9)	(247)	(133)
Research and development	(19)	(3)	(5)	(34)
Total operating costs and expenses	(1,596)	(230)	(1,011)	(179)
Operating profit (loss)	304	44	28	(71)
Total other income (loss), net			(698)	(1)
Income (loss) before income taxes	304	44	(670)	(72)
Income taxes				2
Net income (loss)	304	44	(670)	(74)
Less: net (loss) income attributable to noncontrolling interests	(4,496)	(646)	(3,748)	(4)
Net income (loss) attributable to Baidu, Inc.	¥ 4,800	$ 690	¥ 3,078	¥ (70)

Fair Value Disclosure and Measurement on Recurring Basis (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Fair value disclosure
Long-term notes payable	¥ 45,282	$ 6,504	¥ 68,763
Convertible senior notes	14,142	2,031	4,923
Fair value measurements on a recurring basis
Total assets measured at fair value	22,784	3,273	86,803
Total liabilities measured at fair value	526	76	464
Cash Equivalents
Fair value disclosure
Time deposits	10,848	1,558	4,264
Money market fund	1,719	247	3,723
Short-term Investments
Fair value disclosure
Held-to-maturity debt investments	107,654	15,464	27,507
Fair value measurements on a recurring basis
Available-for-sale debt investments	5,637	810	79,558
Long-term investments
Fair value disclosure
Held-to-maturity debt investments	491	70
Fair value measurements on a recurring basis
Equity investments at fair value with readily determinable fair value	11,334	1,628	4,428
Investments accounted for at fair value	1,819	261	1,457
Available-for-sale debt investments	3,970	570	1,167
Other non-current assets
Fair value measurements on a recurring basis
Derivative instruments	24	4	193
Accounts Payable and Accrued Liabilities
Fair value measurements on a recurring basis
Derivative instruments	125	18	123
Amounts Due To Related Parties current
Fair value measurements on a recurring basis
Financial liabilities	401	$ 58	341
Fair Value, Inputs, Level 1
Fair value measurements on a recurring basis
Total assets measured at fair value	11,334		4,428
Fair Value, Inputs, Level 1 \| Cash Equivalents
Fair value disclosure
Money market fund	1,719		3,723
Fair Value, Inputs, Level 1 \| Long-term investments
Fair value measurements on a recurring basis
Equity investments at fair value with readily determinable fair value	11,334		4,428
Fair Value, Inputs, Level 2
Fair value disclosure
Long-term notes payable	45,282		68,763
Convertible senior notes	14,142		4,923
Fair value measurements on a recurring basis
Total assets measured at fair value	5,661		79,745
Total liabilities measured at fair value	401		341
Fair Value, Inputs, Level 2 \| Cash Equivalents
Fair value disclosure
Time deposits	10,848		4,264
Fair Value, Inputs, Level 2 \| Short-term Investments
Fair value disclosure
Held-to-maturity debt investments	107,654		27,507
Fair value measurements on a recurring basis
Available-for-sale debt investments	5,637		79,558
Fair Value, Inputs, Level 2 \| Long-term investments
Fair value disclosure
Held-to-maturity debt investments	491
Fair Value, Inputs, Level 2 \| Other non-current assets
Fair value measurements on a recurring basis
Derivative instruments	24		187
Fair Value, Inputs, Level 2 \| Amounts Due To Related Parties current
Fair value measurements on a recurring basis
Financial liabilities	401		341
Fair Value, Inputs, Level 3
Fair value measurements on a recurring basis
Total assets measured at fair value	5,789		2,630
Total liabilities measured at fair value	125		123
Fair Value, Inputs, Level 3 \| Long-term investments
Fair value measurements on a recurring basis
Investments accounted for at fair value	1,819		1,457
Available-for-sale debt investments	3,970		1,167
Fair Value, Inputs, Level 3 \| Other non-current assets
Fair value measurements on a recurring basis
Derivative instruments			6
Fair Value, Inputs, Level 3 \| Accounts Payable and Accrued Liabilities
Fair value measurements on a recurring basis
Derivative instruments	¥ 125		¥ 123

Fair Value Measurements - Schedule of Investments accounted at Fair Value (Detail) - Investment Accounted Fair Value [Member] ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Begining Balance	¥ 1,457		¥ 321
Additions	282		822
Disposals	(128)		(5)
Net unrealized fair value increase recognized in earning	197		293
Foreign currency translation adjustments	11		26
Ending balance	¥ 1,819	$ 261	¥ 1,457

Fair Value Measurements - Schedule of Available-for-sale debt investments (Detail) - Available-for-sale Securities [Member] ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Begining Balance	¥ 1,167		¥ 0
Additions	2,785		1,167
Disposals	(20)
Net unrealized fair value increase recognized in other comprehensive income	91
Accrued interest	48
Impairment	(81)
Foreign currency translation adjustments	(20)
Ending balance	¥ 3,970	$ 570	¥ 1,167

Fair Value Measurements - Summary of Assets Measured at Fair Value on a Non-Recurring Basis (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2018 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term investments	¥ (9,989)	$ (1,435)	¥ (622)	$ (89)
Long Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term investments	22,778		19,739		$ 3,272	$ 2,835
Long-term investments	(230)	(33)	3,512	504
Intangible Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets	76		0		$ 11	$ 0
Intangible assets	(406)	$ (58)	(5)	$ (1)
Fair Value, Inputs, Level 1 \| Long Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term investments	14,105		0
Fair Value, Inputs, Level 1 \| Intangible Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets	0		0
Fair Value, Inputs, Level 2 \| Long Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term investments	358		4,983
Fair Value, Inputs, Level 2 \| Intangible Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets	0		0
Fair Value, Inputs, Level 3 \| Long Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term investments	8,315		14,756
Fair Value, Inputs, Level 3 \| Intangible Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets	¥ 76		¥ 0