0001193125-21-074038 | 20-F | XBRL Viewer

Total liabilities, redeemable noncontrolling interests and equity

6,045

927

8,107

Total equity

188,741

28,926

171,706

332,708

50,990

301,316

Class A Ordinary Shares

Equity

Ordinary shares, value

^[1]

Class B Ordinary Shares

Equity

Ordinary shares, value

^[1]

¥ 0

$ 0

¥ 0

[1]	Par value per share and the number of shares as of December 31, 2019 and 2020 have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that became effective on March 1, 2021 as detailed in Note 1 and Note 21.

Consolidated Balance Sheets (Parenthetical) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 USD ($) $ / shares shares
Allowance for short term investment	¥ 285	$ 44	¥ 0
Allowance for doubtful accounts receivable	1,320	202	928	$ 142
Total current liabilities	68,385	10,481	57,380
Total non-current liabilities	¥ 72,480	$ 11,108	71,121
Common stock, shares authorized	69,632,000,000	69,632,000,000
Variable Interest Entity, Primary Beneficiary
Total current liabilities	¥ 25,051	$ 3,839	24,692
Total non-current liabilities	¥ 5,519	$ 846	¥ 6,295
Class A Ordinary Shares
Common stock, par value per share \| $ / shares		$ 0.000000625		$ 0.000000625
Common stock, shares authorized	66,000,000,000	66,000,000,000	66,000,000,000	66,000,000,000
Common stock, shares issued	2,107,228,720	2,107,228,720	2,190,529,680	2,190,529,680
Common stock, shares outstanding	2,107,228,720	2,107,228,720	2,190,529,680	2,190,529,680
Class B Ordinary Shares
Common stock, par value per share \| $ / shares		$ 0.000000625		$ 0.000000625
Common stock, shares authorized	2,832,000,000	2,832,000,000	2,832,000,000	2,832,000,000
Common stock, shares issued	571,900,320	571,900,320	576,100,320	576,100,320
Common stock, shares outstanding	571,900,320	571,900,320	576,100,320	576,100,320

Consolidated Statements Of Comprehensive Income (Loss)
¥ in Millions, shares in Millions, $ in Millions

12 Months Ended

Dec. 31, 2020

CNY (¥)

¥ / shares

Dec. 31, 2020

USD ($)

$ / shares

Dec. 31, 2019

CNY (¥)

¥ / shares

Dec. 31, 2018

CNY (¥)

¥ / shares

Revenues:

Selling, general and administrative

¥ 107,074

$ 16,410

¥ 107,413

¥ 102,277

Operating costs and expenses:

Cost of revenues

55,158

8,454

62,850

51,744

18,063

2,769

19,910

19,231

Research and development

19,513

2,989

18,346

15,772

Total operating costs and expenses

92,734

14,212

101,106

86,747

Operating profit

14,340

2,198

6,307

15,530

Other income (loss):

Interest income

5,358

822

6,060

4,451

Interest expense

(3,103)

(476)

(2,960)

(1,883)

Foreign exchange loss, net

(660)

(101)

(33)

(122)

Share of losses from equity method investments

(2,248)

(345)

(1,254)

(79)

Others, net

9,403

1,441

(8,460)

9,428

Total other income(loss), net

8,750

1,341

(6,647)

11,795

Income (loss) before income taxes

23,090

3,539

(340)

27,325

Income taxes

4,064

623

1,948

4,743

Less: net loss attributable to noncontrolling interests

19,026

2,916

(2,288)

22,582

(3,446)

(528)

(4,345)

(4,991)

Net income attributable to Baidu, Inc.

22,472

3,444

2,057

27,573

Other comprehensive income (loss):

Foreign currency translation adjustments

1,936

296

(782)

194

Unrealized gains (losses) on available-for-sale investments, net of reclassification

(161)

(25)

(708)

Other comprehensive income (loss), net of tax

1,775

271

(1,490)

286

Comprehensive income (loss)

20,801

3,187

(3,778)

22,868

Less: comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interests

(3,253)

(499)

(4,242)

(3,985)

Comprehensive income attributable to Baidu, Inc.

¥ 24,054

$ 3,686

¥ 464

¥ 26,853

Common Class A and Class B

Earnings per shares:

Basic | (per share)

¥ 8.19

$ 1.26

¥ 0.71

¥ 9.83

Diluted | (per share)

^[1]

¥ 8.12

$ 1.24

¥ 0.70

¥ 9.75

Weighted average number of Class A and Class B ordinary shares outstanding

Basic

^[1]

2,732

2,787

2,792

Diluted

^[1]

2,756

2,791

2,814

Class A Ordinary Shares

Earnings per shares:

Basic | (per share)

^[2]

¥ 8.19

$ 1.26

¥ 0.71

¥ 9.83

Diluted | (per share)

^[2]

¥ 8.12

$ 1.24

¥ 0.70

¥ 9.75

Weighted average number of Class A and Class B ordinary shares outstanding

Basic

^[2]

2,158

2,211

2,216

Diluted

^[2]

2,756

2,791

2,814

Class A Ordinary Shares | American Depositary Shares

Earnings per shares:

Basic | (per share)

^[1]

¥ 65.54

$ 10.04

¥ 5.68

¥ 78.64

Diluted | (per share)

¥ 64.98

$ 9.96

¥ 5.60

¥ 78.03

Online Marketing Services

Revenues:

¥ 72,840

$ 11,163

¥ 78,093

¥ 81,912

Revenues:

Cash flows from operating activities:

¥ 34,234

$ 5,247

¥ 29,320

¥ 20,365

[1]	Basic and diluted earnings per share and the number of shares for the years ended December 31, 2018, 2019 and 2020 have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that were effective on March 1, 2021 as detailed in Note 1 and Note 21.
[2]	Basic and diluted net income per ordinary share, weighted average number of shares and the adjustments for dilutive restricted share and share options for the years ended December 31, 2018, 2019 and 2020 have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that became effective on March 1, 2021, as detailed in Note 1

Consolidated Statements Of Comprehensive Income (Parenthetical)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class A Ordinary Shares
Number of American depositary shares (ADSs) representing one Class A ordinary share	8	8	8

Consolidated Statements of Cash Flows
¥ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Dec. 31, 2018

CNY (¥)

Adjustments to reconcile net income (loss) to net cash generated from operating activities:

¥ 19,026

$ 2,916

¥ (2,288)

¥ 22,582

Depreciation of fixed assets and computer parts

5,772

885

5,615

3,730

Amortization of intangible assets

544

661

385

Deferred income tax, net

115

(696)

(761)

Allowance for credit losses

6,728

1,031

5,626

4,676

679

104

429

451

Investment and interest income

(11,966)

(1,833)

(2,305)

(7,648)

Amortization and impairment of licensed copyrights

11,864

1,818

12,885

12,253

Amortization and impairment of produced content

4,534

695

2,977

2,266

Impairment of other assets

2,928

449

10,714

1,208

Share of losses from equity method investments

2,248

345

1,254

(Gain)/loss on disposal of subsidiaries

578

(5,525)

Barter transaction revenue

(1,376)

(211)

(683)

(1,083)

Accretion on convertible senior notes and asset-backed debt securities

501

380

Other non-cash expenses

739

113

Changes in operating assets and liabilities, net of effects of

(78)

(51)

Accounts receivable

(1,660)

(254)

(1,779)

(1,611)

Amounts due from related parties

125

(135)

527

Licensed copyrights

(10,528)

(1,613)

Produced content

(6,728)

(1,031)

(3,596)

(4,545)

Other assets

(351)

(54)

(863)

3,212

Customer deposits and deferred revenue

1,177

180

1,515

912

Accounts payable and accrued liabilities

208

(1,653)

4,094

Deferred income

(293)

(45)

(37)

(64)

Amounts due to related parties

(157)

(24)

(139)

756

Net cash generated from operating activities

24,200

3,709

28,458

35,967

Cash flows from investing activities:

Acquisition of fixed assets

(5,084)

(779)

(6,428)

(8,772)

Acquisition of businesses, net of cash acquired

(2,396)

(367)

(969)

(1,978)

Acquisition of licensed copyrights

(12,152)

(13,116)

Acquisition of intangible assets

(247)

(38)

(541)

(385)

Purchases of held-to-maturity investments

(159,197)

(24,399)

(120,189)

(27,640)

Maturities of held-to-maturity investments

134,299

20,582

46,563

49,040

Purchases of available-for-sale investments

(133,008)

(20,384)

(218,171)

(284,149)

Sales and maturities of available-for-sale investments

135,606

20,783

291,163

239,861

Purchases of other long-term investments

(4,467)

(685)

(6,322)

(9,891)

Proceeds from disposal of long-term investments

6,523

1,000

7,517

2,524

Disposal of subsidiaries' shares

(486)

(74)

(476)

5,581

Loans provided to related parties

(8,632)

Repayment of loans provided to related parties

917

140

12,270

Micro loan origination and disbursement

^[1]

(35,824)

Principal payments received on micro loans

^[1]

38,063

Purchases of other invested securities

^[1]

(16,362)

Sales and maturities of other invested securities

^[1]

24,949

Other investing activities

(12)

(2)

Net cash used in investing activities

(27,552)

(4,223)

(19,974)

(34,460)

Cash flows from financing activities:

Proceeds from short-term loans

3,559

545

2,738

3,787

Repayments of short-term loans

(3,223)

(494)

(3,166)

(1,055)

Proceeds from long-term loans

946

1,168

Repayments of long-term loans

(709)

(109)

(168)

(98)

Loans borrowed from related parties

3,732

Repayment of loans borrowed from related parties

(356)

(55)

Proceeds from issuance of long-term notes, net of issuance costs

13,346

2,046

(10)

18,050

Repayment of long-term notes

(5,378)

(824)

(6,912)

(6,846)

Proceeds from issuance of convertible notes, net of issuance costs

5,151

789

7,910

5,035

Purchase of capped calls

(567)

(465)

Proceeds from issuance of subsidiaries' shares

4,662

715

401

15,689

Repurchase of ordinary shares

(13,054)

(2,001)

(4,958)

(3,312)

Proceeds from exercise of share options

228

676

Proceeds from issuance of redeemable noncontrolling interests

1,669

257

Proceeds from third-party investors for sale of financial products

15,143

^[1]

Repayment to third-party investors for sale of financial products

(33,376)

^[1]

Proceeds from secured borrowings from third-party financial institutions

10,380

^[1]

Repayment of secured borrowings from third-party financial institutions

(13,426)

^[1]

Other financing activities

(230)

(35)

(105)

Net cash provided by (used in) financing activities

5,665

869

(3,873)

15,082

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(212)

(32)

1,902

Net increase in cash, cash equivalents and restricted cash

2,101

323

4,612

18,491

Cash, cash equivalents and restricted cash at beginning of the year

34,439

5,278

29,827

11,336

Cash, cash equivalents and restricted cash at end of the year

36,540

5,601

34,439

29,827

Supplemental disclosures:

Interest paid

2,204

338

2,448

1,579

Income taxes paid

3,608

553

4,100

5,509

Non-cash investing and financing activities:

Acquisition of fixed assets included in accounts payable and accrued liabilities

984

151

1,020

1,516

Non-cash acquisitions of investments

¥ 54

$ 8

¥ 28

¥ 764

[1]	The financial services business (“Du Xiaoman”) was disposed in the year of 2018. Please see Note 4 for further information.

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

CNY (¥)

USD ($)

Cumulative effect of accounting change [Member]

CNY (¥)

Ordinary Shares

CNY (¥)

Ordinary Shares

USD ($)

Ordinary Shares

Cumulative effect of accounting change [Member]

CNY (¥)

Additional Paid-in Capital

CNY (¥)

Additional Paid-in Capital

USD ($)

Additional Paid-in Capital

Cumulative effect of accounting change [Member]

CNY (¥)

Retained Earnings

CNY (¥)

Retained Earnings

USD ($)

Retained Earnings

Cumulative effect of accounting change [Member]

CNY (¥)

Accumulated Other Comprehensive (Loss) Income

CNY (¥)

Accumulated Other Comprehensive (Loss) Income

USD ($)

Accumulated Other Comprehensive (Loss) Income

Cumulative effect of accounting change [Member]

CNY (¥)

Noncontrolling interests

CNY (¥)

Noncontrolling interests

USD ($)

Noncontrolling interests

Cumulative effect of accounting change [Member]

CNY (¥)

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

^[1]

2,785,298,560

Balances at Dec. 31, 2017

¥ 119,350

¥ 933

¥ 0

¥ 12,088

¥ 0

¥ 102,328

¥ 2,787

¥ 930

¥ (1,854)

¥ 4,004

¥ 0

Net income

22,582

¥ 0

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

^[1]

26,070,320

Exercise of share-based awards

689

¥ 0

689

Accretion of redeemable noncontrolling interests

4,557

4,340

217

(146)

(130)

(16)

Repurchase and retirement of ordinary shares

(3,312)

¥ 0

(3,312)

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

^[1]

(16,573,200)

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 issued by iQIYI, net of issuance costs

362

206

156

Purchase of capped calls

(465)

¥ 0

(264)

(201)

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

^[1]

2,794,795,680

Balances at Dec. 31, 2018

175,036

¥ 0

33,441

129,246

210

12,139

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

^[1]

24,997,040

Exercise of share-based awards

¥ 0

Dividends paid and payable by the Company's subsidiaries

5,549

5,045

504

(128)

Accretion of redeemable noncontrolling interests

(111)

(77)

(34)

Repurchase and retirement of ordinary shares

(4,958)

¥ 0

(4,958)

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

^[1]

(53,162,720)

Disposal of subsidiaries' shares

(850)

¥ 0

(863)

Equity component of convertible senior notes issued by iQIYI, net of issuance costs

988

559

429

Purchase of capped calls

(567)

¥ 0

(321)

(246)

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

^[1]

2,766,630,000

Balances at Dec. 31, 2019

171,706

¥ (357)

¥ 0

38,714

¥ 0

126,268

¥ (314)

(1,383)

¥ 0

8,107

¥ (43)

Net income

19,026

22,472

(3,446)

Other comprehensive income

1,775

1,582

193

Business combinations

798

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

4,657

¥ 0

2,260

2,397

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

^[1]

38,595,040

Exercise of share-based awards

302

¥ 0

302

Dividends paid and payable by the Company's subsidiaries

6,394

5,749

645

(70)

Return of equity to noncontrolling interest shareholders

(2,704)

Accretion of redeemable noncontrolling interests

(127)

(88)

(39)

Repurchase and retirement of ordinary shares

(13,054)

¥ 0

(13,054)

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

^[1]

(126,096,000)

Equity component of convertible senior notes issued by iQIYI, net of issuance costs

395

¥ 0

208

187

Others (in shares) | shares

^[1]

Balances (in shares) at Dec. 31, 2020 | shares

¥ 0

(20)

^[1]

2,679,129,040

Balances at Dec. 31, 2020

¥ 188,741

$ 28,926

¥ 0

$ 0

¥ 47,213

$ 7,236

¥ 135,284

$ 20,733

¥ 199

$ 30

¥ 6,045

$ 927

[1]	The number of shares has been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that became effective on March 1, 2021 as detailed in Note 1 and Note 21.

Organization and Basis of Presentation

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of Presentation

1.	ORGANIZATION AND BASIS OF PRESENTATION

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

As of December 31, 2020, 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, 2020, the Company also effectively controls a number of 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’s operations are consisting of Baidu Core and iQIYI. Baidu Core offers online marketing service, and other services including

loud services and other growth initiatives including Apollo intelligent driving, Xiaodu smart devices, etc. iQIYI is an innovative market-leading online entertainment service and offers membership services, online advertising services, content distribution and others service. 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, value-added telecommunication-based online 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$2.1 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$490 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. Beijing QIYI Century Science & Technology Co., Ltd (“Beijing QIYI Century”), a wholly-owned foreign enterprise of iQIYI, has extended the term of the amended and restated loan agreement.

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 the Company, Baidu Online, Beijing Perusal and its shareholders and iQIYI, Beijing QIYI Century, Beijing iQIYI and its shareholders contains substantially the same terms as those described above, except that the initial term of the amended and restated exclusive purchase option agreement amongst iQIYI, Beijing QIYI Century, Beijing iQIYI and its shareholder is ten years, which has been extended, and can be further renewed at iQIYI’s discretion

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, 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.

The operating agreement amongst Baidu Online, Beijing Perusal and its shareholders contains substantially the same terms as those described above. Pursuant to the amended and restated business operation agreement amongst Beijing QIYI Century, Beijing iQIYI and its shareholder, Beijing QIYI Century provides guidance and instructions on Beijing iQIYI’s daily operations and financial affairs. In addition, Beijing QIYI Century agrees to guarantee Beijing iQIYI’s performance under any agreements or arrangements relating to Beijing iQIYI’s business arrangements with any third party. The agreement can only be unilaterally revoked by Beijing QIYI Century. The initial term of the agreement is ten years, which has been extended, and can be further renewed at Beijing QIYI Century’s discretion.

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 and that the initial term of the exclusive technology consulting and services agreement between Beijing QIYI Century and Beijing iQIYI dated November 23, 2011 is ten years, and has been extended.

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, and was extended for another ten years in December 2020.

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 initial term of this agreement is ten years, which has been extended, and can be further 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 PRC laws and regulations; (ii) the contractual arrangements with the VIEs and their shareholders are legal, valid and binding obligation of such party, and enforceable against such party in accordance with their respective terms; and (iii) the execution, delivery and performance of the VIEs and their shareholders do not result in any violation of the provisions of the articles of association and business licenses of the VIEs, and any violation of any current PRC laws and regulations.

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,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Assets
Cash and cash equivalents		2,313		2,348		360
Short-term investments, net		1,892		6,930		1,062
Accounts receivable, net		5,023		6,614		1,014
Others		5,750		8,097		1,241

Total current assets		14,978		23,989		3,677

Fixed assets, net		3,839		4,978		763
Intangible assets, net		1,404		1,499		230
Licensed copyrights, net		1,641		993		152
Produced content, net		4,355		6,130		939
Long-term investments, net		21,825		20,707		3,173
Operating lease right-of-use assets		6,525		6,460		990
Others		7,970		7,717		1,183

Total non-current assets		47,559		48,484		7,430

Total		62,537		72,473		11,107

Liabilities
Accounts payable and accrued liabilities		15,774		15,420		2,363
Customer deposits and deferred revenue		4,841		6,047		927
Operating lease liabilities		2,110		2,068		317
Others		1,967		1,516		232

Total current third-party liabilities		24,692		25,051		3,839


Operating lease liabilities		4,227		4,376		671
Others		2,068		1,143		175

Total non-current third-party liabilities		6,295		5,519		846

Amounts due to the Company and its non-VIE subsidiaries, net		17,121		19,592		3,003

Total		48,108		50,162		7,688


	For the years ended December 31,
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions)
Total revenues		33,992			51,988			52,666			8,071
Net (loss) income		(6,834	)		(2,950	)		2,091			320
Net cash provided by operating activities		2,396			1,649			4,616			707
Net cash used in investing activities		(16,674	)		(4,829	)		(8,382	)		(1,285	)
Net cash provided by financing activities		11,916			3,604			3,859			591

As of December 31, 2020 there was no pledge or collateralization of the VIEs’ assets that can only be used to settle obligations of the VIEs, other than aforementioned in the equity pledge agreements and collateralization of a VIE’s office building,

restricted cash as described in Note 12. The amount of the net assets of the VIEs was RMB22.3 billion (US$3.4 billion) as of December 31, 2020. 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”).

Beginning on January 1, 2020, the Company reclassified licensed copyrights and produced content to separate line items while they were previously included in “Intangible assets, net” and “Other non-current asset

” on the consolidated balance sheets. Comparative figures were reclassified to conform to this presentation.

Effective on March 1, 2021, the Company has changed its authorized share capital by one-to-eighty subdivision of Shares (the “Share Subdivision”). Each share classified as Class A ordinary shares, Class B ordinary shares and preferred shares of a par value of US$0.00005 each in the share capital of the Company (including authorized issued and unissued Class A ordinary shares, Class B ordinary shares and preferred shares) be sub-divided into 80 shares of a par value of US$0.000000625 each. Following the Share Subdivision, the authorized share capital of the Company will be US$43,520 divided into 66,000,000,000 Class A ordinary shares of a par value of US$0.000000625 each, 2,832,000,000 Class B ordinary shares of a par value of US$0.000000625 each and 800,000,000 preferred shares of a par value of US$0.000000625 each. The number of issued and unissued Class A ordinary shares, Class B ordinary shares and preferred shares as disclosed elsewhere in the consolidated financial statements are presented on a basis after taking into account the effects of the Share Subdivision and have been retrospectively adjusted, where applicable. Simultaneously with the Share Subdivision, the change in ratio of the Company’s ADS to Class A ordinary share (the “ADS Ratio Change”) also became effective. Following the ADS Ratio Change, each ADS now represents eight Class A ordinary shares. Previously, ten ADSs represented one Class A ordinary share. Given that the ADS Ratio Change was exactly proportionate to the Share Subdivision, no new ADSs were issued to any ADS holder and the total number of the Company’s outstanding ADSs remains unchanged immediately after the Share Subdivision and the ADS Ratio Change became effective.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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.

Recently adopted accounting pronouncements

Adoption of ASU

2016-13

In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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 and is codified in ASC Topic 326,

Credit Losses

(“ASC 326”). 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. Further, ASU 2016-13 modified the impairment model of available-for-sale debt securities and required the company to determine whether all or a portion of the unrealized loss on an available-for-sale debt security is a credit loss. The Company adopted ASU 2016-13 on January 1, 2020, using a modified retrospective transition method and did not restate the comparable periods, which resulted in a cumulative-effect adjustment to decrease the opening balance of retained earnings on January 1, 2020 by RMB314 million, including the allowance for credit losses for account receivable, contract assets and debt securities.

Adoption of ASU 2017-04

In January 2017, the FASB issued ASU No.

2017-04,

Simplifying the Test for Goodwill Impairment

, 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 Company adopted this guidance on a prospective basis on January 1, 2020 with no material impact on its consolidated financial statements as a result of adopting the new standard.

Adoption of ASU

2019-02

In March 2019, the FASB issued ASU No.

2019-02,

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

(“ASU

2019-02”),

which includes the following major changes from previous legacy GAAP that are applicable to the Company:

•

The content distinction for capitalization of production costs of an episodic television series and production costs of films is removed;

•

Entities are required to test films and license agreements for program material for impairment at a film group level when the film or license agreements are predominantly monetized with other films and license agreements;

•

Entities shall assess estimates of the use of a film in a film group and account for such changes prospectively;

•

Cash outflows for the costs incurred to obtain rights for both produced and licensed content are required to be reported as operating cash outflows in the statement of cash flows.

The Company adopted ASU

2019-02

on January 1, 2020, using a prospective transition method. For the year ended December 31, 2020, cash outflows for the costs incurred to acquire licensed copyrights are reported as operating cash outflows in the Company’s consolidated statement of cash flows whereas they were reported as investing cash outflows prior to the adoption of ASU

2019-02.

There was no material impact to the consolidated balance sheet or consolidated statement of comprehensive income (loss). See the Company’s updated accounting policies for Produced Content and Licensed Copyrights for further details.

Cash paid for content, which includes both licensed copyrights and produced content, is RMB17.0 billion (US$2.6 billion) for the year ended December 31, 2020.

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, the allowances for credit losses of accounts receivable, contract assets and debt securities, fair values of certain debt and equity investments, future viewership consumption patterns and useful lives of licensed copyrights and produced content, future revenues generated by the broadcasting and sublicensing rights of content assets (licensed and produced), fair values of licensed copyrights and produced contents monetized as a film group or individually, fair value of nonmonetary content exchanges, impairment of long-lived assets, long-term investments and goodwill, the purchase price allocation and fair value of pre-existing equity interests, noncontrolling interests and redeemable noncontrolling interests with respect to business combinations, deferred tax valuation allowance, the fair value of share-based awards and estimated forfeitures for share-based awards 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 of RMB6.525 per US$1.00 on December 31, 2020, the last business day in fiscal year 2020, 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.

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, 2019 and 2020, 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 its new AI initiatives. 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 interests 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 “Others, net” in the consolidated statements of comprehensive income (loss).

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, 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.

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 represents escrow amount deposited for a business acquisition and cash pledged for short-term facilities.

Accounts Receivable and Contract Assets, net

Accounts receivable are recognized and carried at the original invoiced amount less an allowance for credit losses. The Company maintains an allowance for credit losses in accordance with ASC 326 and records the allowance for credit losses as an offset to accounts receivable and contract assets, and the estimated credit losses charged to the allowance is classified as “Selling, general and administrative” in the consolidated statements of

comprehensive income (loss).The Company assesses collectability by reviewing accounts receivable and contract

assets on a collective basis where similar characteristics exist, primarily based on similar business line, service or product offerings and on an individual basis when the Company identifies specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, the Company considers historical collectability based on past due status, the age of the accounts receivable balances and contract assets balances, credit quality of the Company’s customers based on ongoing credit evaluations, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect the Company’s ability to collect from customers.

Receivables from Online Payment Agencies, net

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 considers and monitors the credit worthiness of the third-party payment service providers and recognizes credit losses based on ongoing credit evaluations. 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, 2019 and 2020, no allowance for credit losses was provided for the receivables from online payment agencies.

Investments

Short-term

investments

All highly liquid investments with original maturities 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 the positive intent and ability to hold to maturity are classified as

held-to-maturity

securities and stated at amortized cost less allowance for credit losses.

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 (loss) income” on the consolidated balance sheets.

The allowance for credit losses of the held-to-maturity debt securities reflects the Company’s estimated expected losses over the contractual lives of the held-to-maturity debt securities and is charged to “Others, net” in the

consolidated statements of comprehensive income (loss). Estimated allowances for credit losses are determined by considering reasonable and supportable forecasts of future economic conditions in addition to information about past events and current conditions. As of December 31, 2019 and 2020, the allowance for credit losses provided for the held-to-maturity debt securities held by the Company was insignificant.

Long-term investments

The Company’s long-term investments consist of equity investments with readily determinable fair value, equity method investments, equity investments without readily determinable fair value, other investments accounted for at fair value, held-to-maturity debt investments and available-for-sale debt investments.

The Company adopted ASU No. 2016-01,

Recognition and Measurement of Financial Assets and Financial Liabilities

(“ASU 2016-01”), codified in ASC Topic 321,

Investments—Equity Securities

(“ASC 321”), from January 1, 2018 and the cumulative effect of RMB1.9 billion representing the unrealized gains of

available-for-sale

equity securities before the adoption was recorded as an adjustment to the opening retained earnings. 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 (i) whether observable price changes are orderly transactions and identical or similar to an investment held by the Company; and (ii) the selection of 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 “Others, net” in the consolidated statements of comprehensive income (loss).

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 considering impairment indicators to evaluate whether investments are impaired at each reporting date. Impairment indicators considered include, but are not limited to, a significant deterioration in the earnings performance or business prospects of the investee, including factors that raise significant concerns about the investee’s ability to continue as a going concern, a significant adverse change in the regulatory, economic, or technologic environment of the investee and a significant adverse change in the general market condition of either the geographical area or the industry in which the investee operates. 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 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 consolidated statements of comprehensive income (loss) 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 its equity method investments for impairment at each reporting date, or more frequently if 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, include, but are 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 Subtopic

946-320,

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

(“ASC 946-320”)

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

at each reporting date in accordance with ASC 820.

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. Interest income is recognized in earnings. All other changes in the carrying amount of these debt investments are recognized in other comprehensive income (loss).

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. Except for the current portion of long-term loans and notes payables, 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, notes payable and convertible senior notes that are not reported at fair value are disclosed in Note 25.

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, 2018, 2019 and 2020 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 presented on the consolidated balance sheets as current and

non-current

based on estimated time of usage.

The Company’s licensed copyrights include the right to broadcast and, in some instances, the right to sublicense. The broadcasting right, refers to the right to broadcast the content on its own websites and the sublicensing right, refers to the right to sublicense the underlying content to external parties. When licensed copyrights include both broadcasting and sublicensing rights, the content costs are allocated to these two rights upon initial recognition, based on the relative proportion of the estimated total revenues that will be generated by each right over its estimated useful lives.

For the right to broadcast the contents on its own websites that generates online advertising and membership services revenues, based on factors including historical and estimated future viewership patterns, the content

costs are amortized using an accelerated method by content categories over the shorter of each content’s contractual period or estimated useful lives within ten years, beginning with the month of first availability. Content categories accounting for most of the Company’s content include newly released drama series, newly released movies, animations, library drama series and library movies. Estimates of future viewership consumption patterns and estimated useful lives are reviewed periodically, at least on an annual basis and revised, if necessary. Revisions to the amortization patterns are accounted for as a change in accounting estimate prospectively in accordance with ASC Topic 250, Accounting Changes and Error Corrections (“ASC 250”). For the right to sublicense the content to external parties that generates direct content distribution revenues, the content costs are amortized based on its estimated usage pattern and recorded as cost of revenues.

Produced Content, net

The Company produces original content

in-house

and collaborates with external parties. Produced content primarily consists of films, episodic series, variety shows and animations. The costs incurred in the physical production of original content includes direct production costs, production overhead and acquisition costs. Production costs for original content that are predominantly monetized in a film group are capitalized and reported separately as

non-current

assets with caption of “Produced content, net” on the consolidated balance sheets. Production costs for original content predominantly monetized on its own are capitalized to the extent that they are recoverable from total revenues expected to be earned (“ultimate revenue”); otherwise, they are expensed as cost of revenues. Ultimate revenue estimates include revenue expected to be earned 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 estimated 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. 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. Exploitation costs are expensed as incurred.

Based on factors including historical and estimated future viewership consumption patterns, the Company amortizes film costs for produced content that is predominantly monetized in a film group. For produced content that is monetized on its own, the Company considers historical and estimated usage patterns to determine the pattern of amortization for film costs. Based on the estimated patterns, the Company amortizes produced content using an accelerated method over its estimated useful lives within ten years, beginning with the month of first availability and such costs are included in “Cost of revenues” in the consolidated statement of comprehensive income (loss).

Change in accounting estimates of licensed copyrights and produced content

In 2020, the Company revised its estimation of the estimated future viewership consumption patterns and extended the estimated useful lives of its licensed copyrights and produced content to better reflect the usage of these content assets. As a result of these revisions, amortization expense decreased by RMB680 million (US$104 million) and net loss decreased by RMB680 million (US$104 million) for the year ended December 31, 2020, respectively. The impact to basic and diluted EPS for the year ended December 31, 2020 was insignificant

Impairment of licensed copyrights and produced content

The Company’s business model is mainly subscription and advertising based, as such the majority of the Company’s content assets (licensed copyrights and produced content) are predominantly monetized with other

content assets, whereas a smaller portion of the Company’s content assets are predominantly monetized at a

specific title level such as variety shows and investments in a proportionate share of certain rights to films including profit sharing, distribution and/or other rights. Because the identifiable cash flows related to content launched on the Company’s Mainland China platform are largely independent of the cash flows of other content launched on the Company’s overseas platform, the Company has identified two separate film groups. The Company reviews its film groups and individual content for impairment when there are events or changes in circumstances that indicate the fair value of a film group or individual content may be less than its unamortized costs. Examples of such events or changes in circumstances include, a significant adverse change in technological, regulatory, legal, economic, or social factors that could affect the fair value of the film group or the public’s perception of a film or the availability of a film for future showings, a significant decrease in the number of subscribers or forecasted subscribers, or the loss of a major distributor, a change in the predominant monetization strategy of a film that is currently monetized on its own, actual costs substantially in excess of budgeted costs, substantial delays in completion or release schedules, or actual performance subsequent to release failing to meet expectations set before release such as a significant decrease in the amount of ultimate revenue expected to be recognized.

When such events or changes in circumstances are identified, the Company assesses whether the fair value of an individual content (or film group) is less than its unamortized film costs, determines the fair value of an individual content (or film group) and recognizes an impairment charge for the amount by which the unamortized capitalized costs exceed the individual content’s (or film group’s) fair value. The Company mainly uses a discounted cash flow approach to determine the fair value of an individual content or film group, for which the most significant inputs include the forecasted future revenues, costs and operating expenses attributable to an individual content or the film group and the discount rate. An impairment loss attributable to a film group is allocated to individual licensed copyrights and produced content within the film group on a pro rata basis using the relative carrying values of those assets as the Company cannot estimate the fair value of individual contents in the film group without undue cost and effort.

Impact of

COVID-19

During the year ended December 31, 2020, the Company’s operations has been affected by the

COVID-19

pandemic. The Company’s online marketing revenues declined compared to the prior period mainly due to weakness in online advertising demand as its customers in certain industries are negatively impacted by

COVID-19.

The Company has also provided additional credit losses for accounts receivable and contract assets, recognized impairment charges on its long-term investments, intangible asset and content assets, and recorded its share of losses from equity method investees in the year ended December 31, 2020, due to the impact of

COVID-19

and other factors. In addition, increased market volatility has contributed to larger fluctuations in the valuation of the Company’s equity investments.

There are still uncertainties of

COVID-19’s

future impact, and the extent of the impact will depend on a number of factors, including the duration and severity of

COVID-19,

possibility of a second wave in China, the development and progress of distribution of COVID-19 vaccine and other medical treatment, the potential change in user behavior, especially on internet usage due to the prolonged impact of COVID-19, the actions taken by government authorities, particularly to contain the outbreak, stimulate the economy to improve business condition especially for SMEs, almost all of which are beyond the Company’s control. As a result, certain of the Company’s estimates and assumptions, including the allowance for credit losses, the valuation of certain debt and equity investments, long-term investments, content assets and long-lived assets subject to impairment assessments, require significant judgments and carry a higher degree of variabilities and volatilities that could result in material changes to the Company’s current estimates in future periods.

Goodwill and Intangible Assets

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the identifiable net assets acquired in a business combination. 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, 2019 and 2020, 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 quantitative test in accordance with ASC 350-20. 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. 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 quantitative impairment test described above is required. Otherwise, no further testing is required. The quantitative impairment test compares the fair value of the reporting unit with its carrying amount, including goodwill. 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.

The Company performed qualitative assessments for the reporting unit of Baidu Core in 2019 and 2020. 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, 2019 and 2020.

The Company elected to choose to bypass the qualitative assessment and proceed directly to perform quantitative test 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, 2019 and 2020, 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 their estimated useful lives.

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


Trademarks		– 10 years
Technology		– 7 years
Intellectual property right		– 7 years
Online literature		– 8 years
Others		– 8 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 ASU No. 2016-02,

Leases (Topic 842)

(“ASU 2016-02”) on January 1, 2019, codified in ASC 842,

Leases (

“ASC 842”

)

, 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.

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 and the impairment loss, if any, is recognized in “Others, net” in the consolidated statements of comprehensive income (loss). 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 ASC 842 from January 1, 2019 by using the modified retrospective method and did not restate the figures presented for the 2018 comparative year. 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 “Other non-current assets” 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 en

ironments 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

Revenue Recognition

The Company adopted ASU No. 2014-09,

Revenue from Contracts with Customers (Topic 606)

(“ASU 2014-09”),

codified in ASC Topic 606,

Revenue from Contracts with Customers

(“ASC 606”), from January 1, 2018 using the modified retrospective method. The cumulative effect of adopting ASC 606 resulted in an increase of RMB933 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. Revenue is recorded net of valued added taxes (“VAT”).

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.

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 at contract inception. The Company generally determines standalone selling prices based on the prices charged to customers on a standalone basis or estimates 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.

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. The services which the Company provided to customers through Baidu Union partners’ online properties include CPC, other performance-based online marketing services and online display advertising services. These services are provided in the same way to our customers as those through Baidu’s own platforms or properties. As principal, the Company recognizes revenue from Baidu Union on a gross basis. 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 (loss).

Online marketing services customers are required to pay a deposit before using the Company’s 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 and the revenue is recognized when a user clicks on the customer’s link in the search result, when other performance criteria other than CPC have been satisfied, or when online display advertising services have been provided. 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 the Company’s 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 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 the Company’s contracts or purchase orders with customers, but the Company generally provides credit terms to customers within one year; therefore, the Company has determined that its contracts do not include a significant financing component.

Sales incentives

The Company provides sales incentives to third-party agents that entitle them to receive price reductions on the online marketing services by meeting certain cumulative consumption requirements. The Company accounts for these incentives granted to customers as 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 to subscribing members with various privileges, which primarily include access to exclusive and ad-free streaming of premium content 1080P/4K high-definition video, Dolby Audio, and accelerated downloads and others, or personal cloud services, 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 “customer deposits and deferred revenue” and revenue is recognized ratably over the membership period as services are rendered. Membership services revenue also includes fees earned from subscribing members for on-demand content purchases and early access to premium content. The Company is the principal in its relationships where partners, including consumer electronics manufacturers (TVs and cell phones), mobile operators, internet service providers and online payment agencies, provide access to the membership services or payment processing services as the Company retains control over its service delivery to its subscribing members. Typically, payments made to the partners, are recorded as cost of revenues. For the sale of the right to other membership services through strategic cooperation with other parties, the Company recognizes revenue on a net basis when the Company does not control the specified services before they are transferred to the customer.

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 provides 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 which 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. 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 using a market approach based on various factors, including the purchase price of

similar non-exclusive and/or exclusive contents, broadcasting schedule, cast and crew, theme, popularity, and box office. The transaction price of nonmonetary exchange is calculated on the individual content asset basis. For a significant nonmonetary exchange, the Company further reviews the fair value by analyzing against the cost of the licensed copyrights bartered out and/or engages a third-party valuation firm to assess the reasonableness of its

fair value. 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.

The Company recognized barter sublicensing revenues of RMB1.1 billion, RMB683 million and RMB1.4 billion (US$211 million) and related costs of RMB1.0 billion, RMB570 million and RMB1.1 billion (US$161 million) for the years ended December 31, 2018, 2019 and 2020, respectively.

Cloud services

The Company provides public cloud services, which include computing database, storage and other services to enterprise and personal customers 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. The Company also provides proprietary cloud services and solutions, which mainly include hardware, software licensing and software installation service. 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.

Cloud service revenue is recognized over time if one of the following three criteria is met: (i) the customer simultaneously receives and consumes the benefits as the Company performs; (ii) the Company’s performance creates or enhances an asset that the customer controls as the asset is created: (iii) the asset delivered has no alternative use and the Company has an enforceable right to payment for performance completed to date. Otherwise, revenue is recognized at a point in time upon customer acceptance of the cloud services.

Sales of hardware

The Company sells hardware products via third party agents 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.

Financial services

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

Other revenue recognition related policies

For arrangements that include multiple performance obligations, primarily for advertisements to be displayed in different spots, placed under different forms and displayed at different times and proprietary cloud services,

which mainly include hardware, software licensing and software installation service, 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 at contract inception. The Company generally determines standalone selling prices based on the prices charged to customers on a standalone basis or estimates 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 sheets, 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 “Customer deposits and deferred revenue” on the consolidated balance sheets. Balances of contract liabilities were RMB6.1 billion and RMB6.7 billion (US$1.0 billion) as of December 31, 2019 and December 31, 2020, respectively. Revenue recognized for the year ended December 31, 2020 that was included in contract liabilities as of January 1, 2020 was RMB4.0 billion (US$618 million).

Contract assets mainly represent unbilled amounts mainly related to the Company’s rights to consideration for advertising services and cloud services delivered and are included in “Other current assets, net” on the consolidated balance sheets. As of December 31, 2019 and 2020, contract assets were RMB1.9 billion and RMB1.8 billion (US$273 million), net of an allowance for credit losses of RMB7 million and RMB27 million (US$4 million), respectively.

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

The Company’s disaggregated revenue disclosures are presented in Note 24.

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.

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, 2018, 2019 and 2020 were RMB

10.1

billion, RMB

10.5

billion and RMB

8.4

billion (US$

1.3

billion), respectively.

Research and development expenses

Research and development expenses consist primarily of personnel-related costs. The Company expenses research and development costs as they are incurred, except for (i) costs to develop internal-use software or add significant upgrades and enhancements resulting in additional functionality to internal-use software that meet the capitalization criteria in accordance with ASC Subtopic 350-40,

Intangibles-Goodwill and Other, Internal-Use

Software

; and (ii) costs incurred to develop software to be sold/licensed or embedded in its products sold to

customers, which are capitalized once technology feasibility is established,

which

is when a completed detail program design of the product is available in accordance with ASC 950-20,

Costs of Software

to be

Sold, Leased

Marketed

. Capitalized software development costs have not been material for the periods presented.

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 “Others, net” in the consolidated statements of comprehensive income (loss) when received. The government subsidies with certain operating conditions are recorded as “Deferred income” when received and is recognized as income in “Other

, net” or as a reduction of specific operating costs and expenses when the conditions are met for which the grants are intended to compensate.

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.

Deferred income taxes are recognized on the undistributed earnings of subsidiaries, which are presumed to be transferred to the parent company and are subject to withholding taxes, unless there is sufficient evidence to show that the subsidiary has invested or will invest the undistributed earnings indefinitely or that the earnings will be remitted in a

tax-free

liquidation.

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 (loss).

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

ompensation 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 adopted ASU No. 2018-07,

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

(“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 ASU 2018-07 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’s outstanding Class A and Class B ordinary shares were retroactively adjusted for the Share Subdivision as disclosed in Note 21. 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, debt investments, accounts receivable, contract assets, receivables from online payment agencies and amounts due from related parties. As of December 31, 2020, the Company has RMB172.7 billion (US$26.5 billion) in cash and cash equivalents, restricted cash, and debt investments, 90% and 10% 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 debt investments held at four financial institutions in the PRC exceeded 10%, representing 30%, 21%, 16% and 11% of the Company’s total cash and cash equivalents, restricted cash, and debt investments as of December 31, 2020, 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, contract assets, receivables from online payment agencies and amounts due from related parties 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, 2019 and 2020, the Company had

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

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. The Company maintains reserves for estimated credit losses and these losses have generally been within its expectations

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; risks associated with the Company’s ability to attract and retain employees necessary to support its growth and risks related to outbreaks of epidemics, such as

COVID-19.

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 depreciation of the USD against the RMB was approximately 6.27% in 2020. 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 Renminbi and the U.S. dollar in the future. Any significant fluctuation of the valuation of RMB may materially affect the Company’s cash flows, revenues, earnings and financial position, and the value of, and any dividends payable on, the ADS in USD.

rivative 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 January 2020, the FASB issued ASU No. 2020-01,

Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the FASB Emerging Issues Task Force)

(“ASU 2020-01”), which clarifies the interactions of the accounting for certain equity securities under ASC 321, investments accounted for under the equity method of accounting in ASC 323, and the accounting for certain forward contracts and purchased options accounted for under ASC 815. ASU 2020-01 could change how an entity accounts for (i) an equity security under the measurement alternative and (ii) a forward contract or purchased option to purchase securities that, upon settlement of the forward contract or exercise of the purchased option, would be accounted for under the equity method of accounting or the fair value option in accordance with ASC 825. These amendments improve current U.S. GAAP by reducing diversity in practice and increasing comparability of the accounting for these interactions. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 31, 2020. Early adoption is permitted. The Company is currently in the process of evaluating the of adopting ASU 2020-01 on its consolidated financial statements and related disclosure.

August 2020, the FASB issued ASU

No. 2020-06,

Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

(“ASU

2020-06”),

which focuses on amending the legacy guidance on convertible instruments and the derivatives scope exception for contracts in an entity’s own equity. ASU

2020-06

simplifies an issuer’s accounting for convertible instruments by reducing the number of accounting models that require separate accounting for embedded conversion features. ASU

2020-06

also simplifies the settlement assessment that entities are required to perform to determine whether a contract qualifies for equity classification. Further, ASU

2020-06

enhances information transparency by making targeted improvements to the disclosures for

convertible instruments and

earnings-per-share

(EPS) guidance, i.e., aligning the diluted EPS calculation for convertible instruments by requiring that an entity use the

if-converted

method and that the effect of potential share settlement be included in the diluted EPS calculation when an instrument may be settled in cash or shares, adding information about events or conditions that occur during the reporting period that cause conversion contingencies to be met or conversion terms to be significantly changed. This update will be effective for the Company’s fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Entities can elect to adopt the new guidance through either a modified retrospective method of transition or a fully retrospective method of transition. The Company is currently in the process of evaluating the impact of adopting ASU

2020-06

on its consolidated financial statements

and related disclosure.

Business Combinations

12 Months Ended

Dec. 31, 2020

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 19)		(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 RMB630 million was recognized during the year ended December 31, 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 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.

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, among which RMB978 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
	(In millions)
Purchase consideration		1,168

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

		1,168

Goodwill, which is

non-deductible

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

Business combinations in 2020:

During the year ended December 31, 2020, the Company completed several business combinations, total purchase consideration in aggregate was RMB3.5 billion (US$536 million), among which RMB4.0 billion (US$613 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		3,499			536

Net assets acquired, excluding intangible assets and the related deferred tax liabilities		1,515			231
Intangible assets, net		1,116			171
Deferred tax liabilities		(229	)		(35	)
Pre-existing equity interests and debt investment		(2,103	)		(322	)
Noncontrolling interests		(798	)		(122	)
Goodwill		3,998			613

		3,499			536

The Company’s

pre-existing

equity interests in the acquired entities were remeasured to fair value at the acquisition date. For the year ended December 31, 2020, the Company recognized a net

re-measurement

gain of RMB123 million (US$19 million) in “Others, net” in the consolidated statement of comprehensive income.

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 opera

ions of the acquirees were presented because the effects of these business combinations, both individually and in 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 firm. 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 interests and debt investment 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 flows, (c) equity multiples or enterprise value multiples of companies in the same industries and (d) adjustment for lack of control or lack of marketability.

Investments

12 Months Ended

Dec. 31, 2020

Schedule of Investments [Abstract]

Investments

4.	INVESTMENTS

Short-term Investments

As of December 31

2019 and 2020, the Company’s short-term investments comprised of only debt securities. Short-term

held-to-maturity

securities were mainly deposits in commercial banks with maturities less than one year and wealth management products issued by commercial banks and other financial institutions for which the Company has the positive intent and ability to hold those securities to maturity. The short-term

available-for-sale

securities include wealth management products issued by commercial banks and other financial institutions which are not classified as trading securities or as

held-to-maturity

securities.

During the years ended December 31, 2018, 2019 and 2020, the Company recorded interest income from its short-term investments of RMB3.9 billion, RMB5.4 billion and RMB4.7 billion (US$728 million) in the consolidated statements of comprehensive income (loss), respectively.

Short-term investments classification as of December 31, 2019 and 2020 were shown as below:

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

(In millions)

Held-to-maturity

debt investments

107,287

367

—

107,654

Available-for-sale

debt investments

5,440

—

197

—

5,637


	As of December 31, 2020
	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		123,537		595		—		—		—		124,132		19,024
Available-for-sale debt investments		2,862		—		—		3		—		2,865		439

Long-term Investments

The following table sets forth a breakdown of the categories of long-term investments held by the Company as of the dates indicated:


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Equity investments at fair value with readily determinable fair value		11,334		12,978		1,989
Available-for-sale debt investment		3,970		2,607		400
Equity investments without readily determinable fair value		24,686		24,603		3,770
Equity method investments		27,105		24,067		3,688
Investments accounted for at fair value		1,819		2,238		343
Long-term held-to-maturity investments		496		9,740		1,493

Total long-term investments		69,410		76,233		11,683

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.

In 2017, the Company acquired equity interests in China United Network Communication Limited (“China Unicom”), a listed telecommunications company in China for cash consideration

RMB

7.0

billion.

The China Unicom investment was held by a non-wholly-owned subsidiary of the Company. As the China Unicom investment was subject to a three-year holding requirement, it was accounted for using the measurement alternative in 2018 and as an equity investment with readily determinable fair value in 2019 as the holding restrictions terminate within one year. In 2020, the Company partially disposed its investment in China Unicom for

RMB

2.7

billion,

which was subsequently

distributed to

the

noncontrolling shareholder in January 2021.

Equity investments 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. Impairment charges recognized on equity investments without readily determinable fair value was RMB455

million, RMB778 million and

RMB2.3 billion (US$354 million) for the years ended

December 31, 2018, 2019 and 2020, respectively.

The total carrying value of equity investments without readily determinable fair value held as of December 31, 2019 and 2020 were as follows:


	As of December 31, 2019			As of December 31, 2020			As of December 31, 2020
	RMB			RMB			US$
	(In millions)
Initial cost basis		21,211			19,725			3,023
Cumulative unrealized gains		5,636			8,113			1,243
Cumulative unrealized losses (including impairment)		(2,161	)		(3,235	)		(496	)

Total carrying value		24,686			24,603			3,770

Total unrealized and realized gains and losses of equity securities without readily determinable fair values in 2018, 2019 and 2020 were as follows:


	For the years ended December 31,
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions)
Gross unrealized gains		7,119			1,447			4,396			674
Gross unrealized losses (including impairment) (i)		(2,867	)		(1,641	)		(2,679	)		(411	)

Net unrealized gains (losses) on equity securities held		4,252			(194	)		1,717			263
Net realized gains on equity securities sold		124			211			266			41

Total net gains recognized		4,376			17			1,983			304

(i)	Gross unrealized losses (downward adjustments excluding impairment) were RMB 2.4 billion, RMB 863 million and RMB 378 million (US$ 58 million) for the years ended December 31, 2018, 2019 and 2020, respectively.

Equity method investments

The carrying amounts of the Company’s equity method investments were RMB27.1 billion and RMB24.1 billion (US$ 3.7 billion) as of December 31, 2019 and 2020, respectively. For the years ended December 31, 2018, 2019 and 2020, the impairment recognized for equity method investments were RMB167 million, RMB9.2 billion and RMB297 million (US$ 46 million), respectively.

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

As of December 31, 2018, the Company held approximately 19% of Trip’s outstanding shares. The Company

was

considered to have significant influence over Trip and accounts for such investment as an equity method investment in accordance with ASC 323.

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 was recorded in the third quarter of 2019. The Company made a corresponding RMB8.9 billion downward adjustment to the equity method goodwill arising from its acquisition of the Trip investment.

In October 2019, the Company disposed an aggregate of 36 million American Depositary Shares of Trip for cash consideration of US$988 million and recognized a disposal loss of RMB43 million in the year ended December 31, 2019.

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, 2020, the Company’s investments in Trip had a fair value of RMB15.2 billion (US$2.3 billion), based on the closing share price.

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


	As of September 30, (i)
	2019 (ii)		2020		2020
	RMB		RMB		US$
	(In millions)
Current assets		75,578		65,782		10,082
Non-current assets		127,505		132,417		20,294
Current liabilities		74,118		61,360		9,404
Non-current liabilities		25,134		36,558		5,603
Noncontrolling interests		2,047		1,566		240


	For the twelve months ended September 30, (i)
	2018 (ii)		2019 (ii)		2020			2020
	RMB		RMB		RMB			US$
	(In millions)
Total revenues		29,944		34,958		21,704			3,326
Gross profit		24,019		27,627		16,838			2,581
Income (loss) from operations		3,302		4,271		(827	)		(127	)
Net income (loss)		2,807		3,764		(2,236	)		(343	)
Net income (loss) attributable to the investees		2,806		3,813		(2,243	)		(344	)

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

(ii)	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 was immaterial, and prior period financial information of Trip 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 RMB

5.5

billion was recognized in “Others, net” including RMB

4.2

billion relates to the

re-measurement

of the Company’s retained equity interest 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 RMB

801

million was recognized in “Others, net” in the consolidated statement of comprehensive income (loss) for the year ended December 31, 2019. 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, 2019 and 2020, 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, 2020, 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,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Current assets		86,713		96,713		14,822
Non-current assets		18,980		15,094		2,313
Current liabilities		65,450		73,842		11,317
Non-current liabilities		8,677		5,545		850
Noncontrolling interests		1,498		1,577		242


	For the twelve months ended September 30, (i)
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions)
Total revenues		4,633			12,598			13,981			2,143
Gross profit		916			6,247			5,083			779
Loss from operations		(418	)		(680	)		(1,282	)		(196	)
Net loss		(372	)		(638	)		(832	)		(128	)
Net loss attributable to the investees		(352	)		(933	)		(891	)		(137	)


	As of December 31, 2020
	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		8,419		—		—		7,342		(2,783	)		12,978		1,989
Available-for-sale debt investments		2,804		—		—		166		(363	)		2,607		400
Investments accounted for at fair value		1,580		—		—		885		(227	)		2,238		343

The following table summarizes amortized cost of long-term held-to-maturity investments with stated contractual dates, classified by the contractual maturity date of the investments:


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Due in 1 year		—		—		—
Due in 1 year through 2 years		496		9,690		1,485
Due in 2 years through 3 years		—		50		8

Total		496		9,740		1,493

Available-for-sale

debt investments are convertible debt instruments issued by private companies and an investment in preferred shares that is redeemable at the Company’s option, which are measured at fair value. Investments 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,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Due in 1 year		505		—		—
Due in 1 year through 5 years		10		1,587		244
Due in 5 years through 10 years		1,486		—		—
Not due at a single maturity date		1,969		1,020		156

Total		3,970		2,607		400

Licensed Copyrights, Net

12 Months Ended

Dec. 31, 2020

Licensed Copyrights [Abstract]

Licensed Copyrights, Net

5.	LICENSED COPYRIGHTS, NET


	As of December 31, 2019
	Gross carrying value		Accumulated amortization			Impairment amount			Net carrying value
	RMB		RMB			RMB			RMB
	(In millions)
Licensed copyrights
—Broadcasting rights		32,038		(24,501	)		(25	)		7,512
—Sublicensing rights		4,633		(4,633	)		—			—

		36,671		(29,134	)		(25	)		7,512

Less: current portion:
—Broadcasting rights		11,751		(10,501	)		(25	)		1,225
—Sublicensing rights		4,633		(4,633	)		—			—

		16,384		(15,134	)		(25	)		1,225

Licensed copyrights—non-current
—Broadcasting rights		20,287		(14,000	)		—			6,287
—Sublicensing rights		—		—			—			—

		20,287		(14,000	)		—			6,287


	As of December 31, 2020
	Gross carrying value		Accumulated amortization			Impairment amount			Net carrying value
	RMB		RMB			RMB			RMB		US$
	(In millions)
Licensed copyrights
—Broadcasting rights		37,511		(29,688	)		(353	)		7,470		1,145
—Sublicensing rights		5,963		(5,963	)		—			—		—

		43,474		(35,651	)		(353	)		7,470		1,145

Less: current portion:
—Broadcasting rights		8,661		(7,592	)		(34	)		1,035		159
—Sublicensing rights		5,963		(5,963	)		—			—		—

		14,624		(13,555	)		(34	)		1,035		159

Licensed copyrights—non-current
—Broadcasting rights		28,850		(22,096	)		(319	)		6,435		986
—Sublicensing rights		—		—			—			—		—

		28,850		(22,096	)		(319	)		6,435		986

Amortization expense of RMB12.1 billi

n, RMB12.7 billion and RMB11.5 billion (US$1.8 billion) for the years ended December 31, 2018, 2019 and 2020, respectively, was recognized as cost of revenues. Estimated amortization expense relating to the existing licensed copyrights for each of the next three years is as follow:


	RMB		US$
	(In millions)
Within 1 year		3,681		564
Between 1 and 2 years		1,351		207
Between 2 and 3 years		804		123

To supplement cash flow disclosure of investing activities in 2018 and 2019, acquisition of licensed copyrights included in current liabilities for the years ended December 31, 2018 and 2019 amounted to RMB6.3 billion and RMB5.5 billion, respectively. Acquisition of licensed copyrights from nonmonetary content exchanges for the years ended December 31, 2018 and 2019 amounted to RMB642 million and RMB968 million, respectively.

Produced Content, Net

12 Months Ended

Dec. 31, 2020

Disclosure Of Produced Content Net [Abstract]

Produced Content, Net

6.	PRODUCED CONTENT, NET


	As of December 31,
	2019
	RMB
	(In millions)
Released, less amortization		892
In production		3,075
In development		388

		4,355


	As of December 31,
	2020		2020
	RMB		US$
	(In millions)
Released, less amortization and impairment
—Predominantly monetized with other content assets		1,857		285
—Predominantly monetized on its own		78		12

		1,935		297
In production, less impairment
—Predominantly monetized with other content assets		3,742		573
— Predominantly monetized on its own		82		13

		3,824		586
In development, less impairment
—Predominantly monetized with other content assets		666		102
—Predominantly monetize d on its own		131		20

		797		122
Total		6,556		1,005

Amortization expense of RMB3,024 million (US$463 million) and RMB1,095 million (US$168 million)

was recognized as cost of revenues in the consolidated statements of comprehensive income (loss) for the year ended December 31, 2020, for produced content predominantly monetized with other content assets and for produced

content predominantly monetized on its own, respectively. Amortization expense for produced content was RMB2,266 million

RMB

2,977

million for the year ended December 31, 2018 and 2019, respectively. Estimated amortization expense relating to the existing produced content for each of the next three years is as follows:


	RMB		US$
	(In millions)
Due in 1 year		827		127
Between 1 and 2 years		296		45
Between 2 and 3 years		197		30

Accounts Receivable

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Accounts Receivable

7.	ACCOUNTS RECEIVABLE


	As of December 31,
	2019			2020			2020
	RMB			RMB			US$
	(In millions)
Accounts receivable		8,344			9,988			1,530
Allowance for credit losses		(928	)		(1,320	)		(202	)

		7,416			8,668			1,328

The movements in the allowance for credit losses were as follows:


	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions)
Balance as of January 1		316			599			928			142
Adoption of ASU 2016-13		—			—			119			18
Amounts charged to expenses		299			331			455			70
Amounts written off		(16	)		(2	)		(182	)		(28	)

Balance as of December 31		599			928			1,320			202

Other Assets

12 Months Ended

Dec. 31, 2020

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

Other Assets

8.	OTHER ASSETS


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Prepaid expenses		955		1,109		170
Advances to suppliers		964		1,053		161
Receivables from online payment agencies		585		440		67
Deposits		787		437		67
Prepaid licensed copyrights		1,225		1,035		159
Contract assets, net (i)		1,876		1,755		269
VAT prepayments		1,605		1,768		271
Income tax prepayments		499		130		20
Others		693		3,279		503

Total other current assets		9,189		11,006		1,687
Long-term prepaid expenses		4,176		3,084		473
Others		276		364		54

Total other non-current assets		4,452		3,448		527

(i)

The allowance for credit losses on contract assets was RMB

million and RMB

million (US$

million) as of December 31, 2019 and December 31, 2020, respectively. The amounts charged to expenses for credit losses of contract assets and write-offs charged against the allowance were RMB

million (US$

million) and

nil

, respectively, for the year ended December 31, 2020. The effect of adopting ASU 2016-13 was RMB

million (US$

million ) to the opening balance of contract assets, net.

Fixed Assets

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Fixed Assets

9.	FIXED ASSETS


	As of December 31,
	2019			2020			2020
	RMB			RMB			US$
	(In millions)
Computer equipment		29,592			33,150			5,080
Office building		4,628			4,697			720
Office building related facility, machinery and equipment		2,317			2,442			374
Vehicles		203			204			31
Office equipment		944			971			149
Leasehold improvements		391			386			59
Construction in progress		313			454			70

		38,388			42,304			6,483
Accumulated depreciation and impairment		(20,077	)		(24,796	)		(3,800	)

		18,311			17,508			2,683

Depreciation expense, for the years ended December 31, 2018, 2019 and 2020, was RMB3.7 billion, RMB5.6 billion and RMB5.7 billion (US$869 million), respectively. Impairment charges on fixed assets for the years ended December 31, 2018, 2019 and 2020 were not material.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

10.	GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company had two reporting units, Baidu Core and iQIYI, as of December 31, 2019 and 2020.

The changes in the carrying amount of goodwill for each reporting unit from 2019 to 2020 was as follows:


	Baidu Core			iQIYI		Total
	RMB			RMB		RMB
	(In millions)
Balance at December 31, 2018		14,648			3,888		18,536

Goodwill acquired (Note 3)		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
Goodwill acquired (Note 3)		3,998			—		3,998

Balance at December 31, 2020		18,360			3,888		22,248

Balance at December 31, 2020, in US$		2,814			596		3,410

(i)

Disposition during the year ended December 31, 2019 was primarily related to the

deconsolidation

of a subsidiary (Note 4).

Intangible Assets


	As of December 31, 2019
	Gross carrying value		Accumulated impairment			Accumulated amortization			Net carrying value
	RMB		RMB			RMB			RMB
	(In millions)
Trademarks		658		(2	)		(182	)		474
Technology		456		(52	)		(188	)		216
Intellectual property right		1548		(355	)		(594	)		599
Online literature		163		—			(40	)		123
Others		805		(19	)		(598	)		188

		3,630		(428	)		(1,602	)		1,600


	As of December 31, 2020
	Gross carrying value		Accumulated impairment			Accumulated amortization			Net carrying value		Net carrying value
	RMB		RMB			RMB			RMB		US$
	(In millions)
Trademarks		1,054		(238	)		(205	)		611		94
Technology		1,087		(52	)		(307	)		728		112
Intellectual property right		1,599		(467	)		(757	)		375		57
Online literature		151		—			(54	)		97		15
Others		899		(19	)		(669	)		211		32

		4,790		(776	)		(1,992	)		2,022		310

The carrying amounts of intangible assets with indefinite useful lives were insignif

cant as of December 31, 2019 and 2020.

The Company recognized impairment losses on intangible assets of RMB5 million, RMB406 million and RMB350 million (US$54 million) for the years ended December 31, 2018, 2019 and 2020, respectively. Impairment losses on intangible assets are recorded in cost of revenues.

Amortization expense of intangible assets were RMB385 million, RMB661 million and RMB544 million (US$83 million), for the years ended December 31, 2018, 2019 and 2020, respectively.

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


	RMB		US$
	(In millions)
For the years ending December 31,
2021		505		77
2022		448		69
2023		375		57
2024		337		52
2025		235		36

Accounts Payable and Accrued Liabilities

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

Accounts Payable and Accrued Liabilities

11.	ACCOUNTS PAYABLE AND ACCRUED LIABILITIES


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Accrued other operating expenses		8,925		8,301		1,272
Content acquisition costs		7,267		6,734		1,032
Tax payable		3,115		3,779		579
Accrued payroll and welfare		2,407		3,508		538
Payable to noncontrolling interest shareholders		240		3,466		531
Traffic acquisition costs		2,772		2,467		378
Bandwidth costs		2,492		1,985		304
Accruals for purchases of fixed assets		1,220		1,270		195
Funds collected on behalf of service providers		498		523		80
Interest payable		310		487		75
Payable to merchants		310		307		47
Users’ and third party agents’ deposits		641		268		41
Others		2,504		3,621		555

		32,701		36,716		5,627

Loans Payable

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Loans Payable

12.	LOANS PAYABLE

Short-term Loans

Short-term loans as of December 31, 2019 and 2020 amounted to RMB2.6 billion and RMB3.0 billion (US$462 million), respectively, which consisted of RMB denominated borrowings by the Company’s

subsidiaries

from financial institutions in the PRC and were repayable within one year.

As of December 31, 2019, and 2020, the repayments of primarily all of the short-term loans are guaranteed by subsidiaries of iQIYI and either collateralized by an office building of one of iQIYI’s VIEs with a carrying amount of RMB562 million and RMB548 million (US$84 million) respectively, or restricted cash balances totaling US$139 million and US$4 million (equivalent to RMB23 million), respectively, or other receivables totaling nil and US$5 million (equivalent to RMB35 million), respectively.

As of December 31, 2019 and 2020, the weighted average interest rates for the outstanding borrowings were approximately 4.05% and 4.30%, respectively, and the aggregate amounts of unused lines of credit for short-term loans were RMB1.6 billion and RMB840 million (US$129 million), respectively.

Structured payable arrangements

In 2020, iQIYI entered into structured payable arrangements with banks or other financial institutions (“factoring arrangements”), which extended the original payment terms. Under the factoring arrangements, the suppliers’ receivables collection process was accelerated through selling its receivables from iQIYI to the banks or other financial institutions at a discount. iQIYI was legally obligated to pay the banks or other financial institutions in the amount totaling RMB396 (US$61 million), maturing within one year.

As a result of the factoring arrangements, the payment terms of the iQIYI’s original accounts payables were substantially modified and considered extinguished as the nature of the original liability has changed from

accounts payables to loan borrowings from banks or other financial institutions. The proceeds from borrowings from banks or other financial institutions is a financing activity and is reported as “Proceeds from short-term loans” on the consolidated statements of cash flows. As of December 31, 2020, the outstanding borrowings from the factoring arrangements were RMB390 million (US$60 million), which is repayable within one year and are included in “Short-term loans” on the consolidated balance sheet.

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

five years

and to borrow an unsecured USD 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 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 total outstanding borrowings were RMB7.0 billion and RMB6.5 billion (US$ 1.0 billion), which was classified as Long-term loans as of December 31, 2019 and reclassified to Long-term loans, current portion” as of December 31, 2020.

The interest rate swap agreements met the definition of a derivative in accordance with ASC Topic 815,

Derivatives and Hedging

(“ASC 815”). The derivatives related to the interest rate swap agreements are accounted at fair value and included in “Other non-current assets” on the consolidated balance sheets.

iQIYI

In 2017, iQIYI borrowed a secured RMB denominated loan of RMB299 million with an interest rate of 4.47% for a

three-year

term from the Bank of China for its general working capital purposes. Pursuant to the agreement,

the principal shall be repaid by installments from 2017 to 2020. As of December 31, 2019 and 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 and RMB548 million (US$84 million), respectively. Principal repayments were made on the loan when they became due and amounted to RMB10 million and RMB274 million (US$42 million) for the years ended December 31, 2019 and 2020, respectively. The loan was fully repaid as of December 31, 2020.

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 for the general working capital of iQIYI. In 2019, iQIYI drew down RMB448 million with an interest rate of 3.55%. Pursuant to the agreement, the principal shall be repaid in installments from 2019 to 2021. As of December 31, 2019 and December 31, 2020, the repayment of the loan was collateralized by long-term

held-to-maturity

debt securities with a stated cost of US$71 million and US$71 million (equivalent to RMB463 million), respectively. Principal repayments were made on the loan when they became due and amounted to RMB3 million and RMB34 million (US$5 million) for the years ended December 31, 2019 and 2020, respectively. The amount repayable within the next twelve months are classified as “Long-term loans, current portion”.

In December 2018, iQIYI entered into a series of transactions (“reverse factoring arrangement”) in order to re-finance certain payables due to its suppliers. In the reverse factoring arrangement, iQIYI’s suppliers sold certain 2018 receivables due from iQIYI (the “2018 factored receivables”) to the financial institutions at a discount. The 2018 factored receivables were transferred to a securitization vehicle and used to securitize debt securities issued to third-party investors for gross proceeds of RMB446 million. Concurrently, iQIYI also entered into an agreement with the financial institutions to extend the repayment of the underlying payables to mirror the repayment terms for the asset-back debt securities with maturities in December 2019 and December 2020. Under such arrangement, the payable obligation between iQIYI and the suppliers was considered settled and iQIYI was legally obligated to pay the financial institutions thereafter. As the 2018 factored receivables were sold to the financial institutions and used to securitize the debt securities, the factored receivables are viewed as collateral for raising loans through the issuance of 2018 asset-backed debt securities. The borrowings have an effective interest rate of 7.00%.

In November 2019, the Company entered into a similar reverse factoring arrangement whereby iQIYI’s suppliers sold certain 2019 receivables due from iQIYI (the “2019 factored receivables”) amounting to RMB587 million to the financial institutions at a discount. The 2019 factored receivables were transferred to a securitization vehicle and used to securitize debt securities issued to third-party investors for gross proceeds of RMB500 million. Concurrently, iQIYI also entered into an agreement with the financial institutions to extend the repayment of the underlying payables to mirror the repayment terms for the 2019 asset-back debt securities which mature in November 2021. The borrowings have an effective interest rate of 5.97%.

The securitization vehicle was designed by iQIYI with the sole purpose to acquire receivable balances from iQIYI’s suppliers in order to securitize the senior asset-backed securities with guaranteed returns ranging from 5.0% to 5.5% sold to third-party investors. iQIYI has a variable interest in the securitization vehicle through its interest in the subordinated asset-backed securities issued by the securitization vehicle which bear the residual loss. As a result, iQIYI considers itself the primary beneficiary and consolidates the securitization vehicle given iQIYI has (i) the power to govern the activities that most significantly impact its economic performance, and (ii) is obligated to absorb losses that could potentially be significant to the securitization vehicle.

As a result of the series of transactions described above, the payment terms of iQIYI’s original trade payables were substantially modified and considered extinguished as the nature of the original liability has changed from that of a trade payable to loan borrowings from third-party investors

As of December 31, 2019 and 2020, the outstanding borrowings as a result of the reverse factoring arrangements were RMB898 million and RMB498 million (US$76 million), respectively. RMB75 million and RMB371 million (US$57 million) of 2018 asset-backed debt securities were repaid when they became due in December 2019 and December 2020, respectively. RMB30 million (US$5 million) of 2019 asset-backed debt securities was repaid when it became due in October 2020. RMB498 million (US$76 million) of asset-backed debt securities is repayable within one year and are included in “Long-term loans, current portion”.

Notes Payable

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Notes Payable

13.	NOTES PAYABLE

Baidu, Inc.

The Company issued and publicly sold unsecured senior notes, and the details of the tranches are shown below:


	Issue date	Principal amount (US$ million)		Mature date	Effective interest rate

2022 Ten-year Notes	November 28, 2012		750	November 28, 2022		3.59	%
2019 Notes	June 9, 2014		1,000	June 9, 2019		3.00	% *
2020 Notes	June 30, 2015		750	June 30, 2020		3.13	% *
2025 Ten-year 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		600	May 14, 2024		4.51	%
2024 Notes	December 10, 2018		250	May 14, 2024		4.54	%
2028 November Notes	November 14, 2018		400	November 14, 2028		4.99	%
2025 Five-year Notes	April 7, 2020		600	April 7, 2025		3.22	%
2030 April Notes	April 7, 2020		400	April 7, 2030		3.54	%
2026 Notes	October 9, 2020		650	April 9, 2026		1.81	%
2030 October Notes	October 9, 2020		300	October 9, 2030		2.43	%

*	The 2019 Notes and 2020 Notes were fully repaid when they became due

The notes listed above are collectively referred to as the “Notes.”

The 2022

Ten-year

Notes bear interest at the rate of 3.500% per annum. Interest is payable

semi-annually

in arrears on and of each year, beginning on May 28, 2013.

The 2019 Notes bear interest at the rate of 2.750% per annum. Interest is payable

semi-annually

in arrears on and of each year, beginning on December 9, 2014.

The 2020 Notes bear interest at the rate of 3.000% per annum and the 2025

Ten-year

Notes bear interest at the rate of 4.125% per annum. Interest is 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 2.875% per annum and the 2027 Notes bear interest at the rate of 3.625% per annum. Interest is payable

semi-annually

in arrears on and of each year, beginning on January 6, 2018.

The 2023 Notes bear interest at the rate of 3.875% per annum and the 2028 March Notes bear interest at the rate of 4.375% per annum. Interest is 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 4.375% per annum and the 2028 November Notes bear interest at the rate of 4.875% per annum. Interest is payable

semi-annually

in arrears on and of each year, beginning on May 14, 2019.

The 2025 Five-year Notes bear interest at the rate of 3.075% per annum and the 2030 April Notes bear interest at the rate of 3.425% per annum. Interest is payable

semi-annually

in arrears on and of each year, beginning on October 7, 2020.

The 2026 Notes bear interest at the rate of 1.720% per annum and the 2030 October Notes bear interest at the rate of 2.375% per annum. Interest is payable

semi-annually

in arrears on and of each year, beginning on April 9, 2021.

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, 2025 Five-year Notes, 2030 April Notes, 2026 Notes and 2030 October 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 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, 2020, the Company does not intend to redeem any portion of the Notes prior to the stated maturity dates. For certain Notes, the Company has the obligation to redeem the Notes if a change in control occurs as defined in the indenture of the Notes.

The outstanding Notes were issued at a discount amounting to US$20 million. The total issuance costs of US$36 million were presented as a direct deduction from the principal amount of the outstanding 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, 2019 and 2020 were as follows:


	As of December 31,
	2019			2020			2020
	RMB			RMB			US$
	(In millions)
Principal amount		43,519			48,638			7,454
Unamortized discount and debt issuance costs		(210	)		(230	)		(35	)

		43,309			48,408			7,419

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 12) but excluding convertible notes (Note 14)), in the succeeding five years and thereafter:


	RMB		US$
	(In millions)
For the years ending December 31,
2021		7,465		1,144
2022		10,766		1,650
2023		6,525		1,000
2024		5,546		850
2025		7,178		1,100
Thereafter		18,596		2,850

Convertible Notes

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Convertible Notes

14.	CONVERTIBLE NOTES

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 redeemed, repurchased 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 options on 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 remeasurements to fair value.

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 Subtopic

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 did 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 was considered debt discount and 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 redeemed, repurchased 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 options on 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 remeasurements to fair value.

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 was considered debt discount and 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 iQIYI 2025 Convertible 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.

iQIYI 2026 Convertible Notes

In December, 2020, iQIYI issued US$800 million convertible senior notes (“ iQIYI 2026 Convertible Notes”). The iQIYI 2026 Convertible Notes are senior, unsecured obligations of iQIYI, and

interest is payable semi-annually

in cash at a rate of 4.00% per annum with a maturity date of

December 15, 2026

, unless redeemed, repurchased or converted prior to such date. The initial conversion rate of iQIYI 2026 Convertible Notes is 44.8179 of iQIYI’s ADSs per US$1,000 principal amount of the iQIYI 2026 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.

The accounting of iQIYI 2026 Convertible Notes is similar to that of iQIYI 2023 Convertible Notes. The difference between the principal amount of the iQIYI 2026 Convertible Notes and the liability component was considered debt discount and amortized at an effective interest rate of 6.94% to accrete the discounted carrying value of the iQIYI 2026 Convertible Notes to its face value on

August 1, 2024

, the put date of the iQIYI 2026 Convertible Notes. The holders may require iQIYI to repurchase all or portion of the iQIYI 2026 Convertible Notes for cash on August 1, 2024, 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, the iQIYI 2025 Convertible Notes and the iQIYI 2026 Convertible Notes are collectively referred to the Convertible Notes.

The carrying amount of the Convertible Notes as of December 31, 2019 and 2020 were as follows:


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Liability component:
Principal		13,578		17,954		2,751
Less: unamortized debt discount		1,281		1,275		195
Net carrying amount		12,297		16,679		2,556
Equity component:
Carrying amount		1,349		1,744		267

For the years ended December 31, 2018, 2019 and 2020, 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, RMB670 million and RMB799 million (US$123 million), respectively. As of December 31, 2020, the liability component of the iQIYI 2023 Convertible Notes, the iQIYI 2025 Convertible Notes and the iQIYI 2026 Convertible Notes would be accreted up to the principal amount of US$750 million, US$1.2 billion and US$800 million over a remaining period of 0.92 years 2.25 years and 3.59 years, respectively. The amount repayable within the next twelve months are classified as “Convertible senior notes, current portion” on the consolidated balance sheets.

The aggregate scheduled maturities of RMB4.9 billion (US$750 million), RMB7.8 billion (US$1.2 billion) and RMB5.2 billion (US$800 million) of the Convertible Notes will be repaid when they become due in 2023, 2025 and 2026, respectively, assuming there is no conversion of the Convertible Notes, no redemption of the Convertible Notes prior to their maturities and the convertible senior notes bondholders hold the Convertible Notes until their maturities and iQIYI elects to fully settle the Convertible Notes in cash.

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

15.

LEASES

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 that are factored into the Company’s determination of lease payments when appropriate. As of December 31, 2020, finance leases were insignificant.

As of December 31, 2020, the weighted average remaining lease term was 16.2 years and weighted average discount rate was 4.53% for the Group’s operating leases.

Operating lease cost was RMB2.7 billion and RMB3.0 billion (US$456 million) for the years ended December 31, 2019 and 2020, respectively, which excluded cost of short-term contracts. Short-term lease cost was RMB434 million and RMB427 million

(US$65 million) for the years ended December 31, 2019 and 2020, respectively. Variable lease cost was immaterial for the years ended December 31, 2019 and 2020. For the year ended December 31, 2019 and 2020, no lease cost for operating or finance leases was capitalized. Supplemental cash flow information related to operating leases was as follows:


	For the years ended December 31,
	2019		2020
	RMB		RMB		US$
	(In millions)
Cash payments for operating leases		2,631		5,187		795
ROU assets obtained in exchange for operating lease liabilities		3,896		2,841		435

Future lease payments under operating leases as of December 31, 2020 were as follows:


	Operating leases
	RMB		US$
	(In millions)
Year ending December 31,
2021		2,430		372
2022		1,856		284
2023		1,433		220
2024		1,032		158
2025		464		71
Thereafter		624		96

Total future lease payments		7,839		1,201
Less: Imputed interest		780		118

Total lease liability balance		7,059		1,083

As of December 31, 2020, additional operating leases that have not yet commenced were immaterial.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

16.	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 of dividends.

Japan

As a result of the Japanese tax regulations amendments, the effective income tax rate are approximately 31%, 31% and 31% for the years ended December 31, 2018, 2019 and 2020, respectively.

China

Under the PRC Enterprise Income Tax (“EIT”) Law, which has been effective since January 1, 2008, domestic enterprises and Foreign Investment Enterprises (the “FIE”) are subject to a unified 25% enterprise income tax rate, except for certain entities that are entitled to preferential tax treatments. 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 2018 and 2019. 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

2022

and

2023

. 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,
	2018		2019			2020		2020
	RMB		RMB			RMB		US$
	(In millions)
PRC		23,524		13,076			19,711		3,021
Non-PRC		3,801		(13,416	)		3,379		518

		27,325		(340	)		23,090		3,539

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,
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions)
Current income tax		6,184			3,564			4,668			716
Income tax refund due to reduced tax rate		(680	)		(920	)		(719	)		(110	)
Adjustments of deferred tax assets due to change in tax rates		—			9			(5	)		(1	)
Deferred income tax (benefit) expense		(761	)		(705	)		120			18

		4,743			1,948			4,064			623

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,
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions, except for per share data)
Expected taxation at PRC statutory tax rate		6,831			(85	)		5,773			885
Effect of differing tax rates in different jurisdictions		493			3,299			208			32
Non-taxable income		(1,555	)		(419	)		(995	)		(152	)
Non-deductible expenses		935			2,124			3,416			523
Research and development super-deduction		(1,047	)		(1,245	)		(1,549	)		(237	)
Effect of PRC preferential tax rates and tax holiday		(2,250	)		(1,327	)		(2,891	)		(443	)
Effect of tax rate changes on deferred taxes		—			9			(5	)		(1	)
Reversal of prior year’s EIT		(616	)		(1,134	)		(951	)		(146	)
PRC withholding tax		553			(224	)		122			19
Addition to valuation allowance		1,399			950			936			143

Taxation for the year		4,743			1,948			4,064			623

Effective tax rate		17%			(573%	)		18	%		18	%

Effect of preferential tax rates inside the PRC on basic earnings per Class A and Class B ordinary share ( Note )		0.81			0.49			1.06			0.16

Note:

Effect of preferential tax rates inside the PRC on basic earnings per Class A and Class B ordinary share for the years ended December 31, 2018, 2019 and 2020 have been retrospectively adjusted for the Share Subdivision that became effective on March 1, 2021, as detailed in Note 1 and Note 21

The tax effects of temporary differences that gave rise to the deferred tax balances at December 31, 2019 and 2020 are as follows:


	As of December 31,
	2019			2020			2020
	RMB			RMB			US$
	(In millions)
Deferred tax assets:
Allowance for credit loss		332			452			69
Accrued expenses, payroll and others		4,820			5,456			836
Fixed assets depreciation		151			106			16
Net operating loss carry-forward		1,733			1,811			278
Less: valuation allowance		(4,843	)		(5,895	)		(903	)

Deferred tax assets, net		2,193			1,930			296


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Deferred tax liabilities:
Long-lived assets arising from acquisitions		275		406		62
Withholding tax on PRC subsidiaries’ undistributed earnings		1,621		1,381		212
Tax on capital gains		1,159		943		145
Others		218		593		90

		3,273		3,323		509

The Group offset deferred tax liabilities and assets pertaining to a particular tax-paying component of the Group within a particular jurisdiction. The total income tax expenses were RMB1.9 billion and RMB4.1 billion (US$623 million) for the years ended December 31, 2019 and 2020, respectively. The change in income tax expense is mainly due to changes of overall profits before tax. The effective tax rate for the year ended December 31, 2020 is lower than the PRC statutory EIT rate

% mainly due to international income tax rate and preferential income tax rate impact, research and development super-deduction, and change in withhold rate and Key Software Enterprise status obtained.

As of December 31, 2020, the Company had tax losses of approximately RMB9.7 billion (US$1.5 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 2021 to 20

, if not utilized. 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). The Company does not expect the amount of unrecognized tax benefits to increase significantly in the next 12 months. In general, the PRC tax authorities have up to five years to condu

examinations of the tax filings of the Company’s PRC subsidiaries. Accordingly, the PRC subsidiaries’ tax years

of 2015 - 2020 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.

As of December 31, 2020, dividend distribution withholding tax for the potential remittance of earnings from the PRC subsidiaries to offshore entities was RMB1.4 billion. The Company believes that the underlying dividends will be distributed in the future for offshore use, such as merger and acquisition activities. The Company did not provide for additional deferred income taxes and foreign withholding taxes on the undistributed earnings of foreign subsidiaries during the years presented on the basis of its intent to permanently reinvest its foreign subsidiaries’ earnings. As of December 31, 2020, the total amount of undistributed earnings from the PRC subsidiaries and the VIEs for which no withholding tax has been accrued was RMB154.1 billion (US$23.6 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 in respect of earnings derived from January 1, 2008 onwards are subject to PRC dividend withholding tax at 10%. Such rate could be reduced to 5% should treaty benefits be applicable.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Employee Defined Contribution Plan

Employee Defined Contribution Plan

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

17.	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. Total amounts for such employee benefits, which were expensed as incurred, were RMB2.9 billion, RMB3.2 billion and RMB2.7 billion (US$417 million) for the years ended December 31, 2018, 2019 and 2020, respectively.

The entire disclosure for retirement benefits.

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies

18.	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 RMB754 million (US$116 million) as of December 31, 2020. 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, 2020:


	RMB		US$
	(In millions)
2021		742		114
2022		323		50
2023		135		21
2024		81		12
2025		45		7
Thereafter		47		7

		1,373		211

Future minimum lease payments for operating lease commitments as of December 31, 2020 are disclosed in Note 15.

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, 2020:


	RMB		US$
	(In millions)
2021		10,480		1,606
2022		6,239		956
2023		3,421		524
2024		1,286		197
2025		345		53
Thereafter		—		—

		21,771		3,336

Investment Commitments

The Group’s investment commitments primarily relate to capital contribution obligations under certain arrangements which do not have contractual maturity date. The total investment commitments contracted but not yet reflected in the consolidated financial statements amounted to RMB1.5 billion (US$223 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, 2019 and 2020.

Litigation

The Group was involved in certain cases pending in various PRC, U.S. and Brazil courts and arbitration as of December 31, 2020. 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.

Starting in April 2020, the Group and certain of its officers were named as defendants in putative securities class actions filed in federal court. The case was purportedly brought on behalf of a class of persons who allegedly suffered damages as a result of alleged misstatements and omissions in the Group’s public disclosure documents related to Baidu Feed, which they believe did not comply with “PRC laws and regulations in all material respects”. In addition, the Group received a complaint alleging that between April 8, 2016 and August 13, 2020, the Group made material misrepresentations in disclosures filed with the SEC by misrepresenting the financial and business condition of iQIYI and failing to disclose that iQIYI had inadequate controls. Both of those cases remain in preliminary stage, the likelihood of any unfavorable outcome or the amount or range of any potential loss cannot be reasonably estimated at the issuance date of the consolidated financial statements. As a result, as of December 31, 2020, the Group did not record any liabilities for the loss contingencies pertaining to the cases described above.

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, 2020

Temporary Equity Disclosure [Abstract]

Redeemable Noncontrolling Interests

19.	REDEEMABLE NONCONTROLLING INTERESTS


	2018			2019		2020		2020
	RMB			RMB		RMB		US$
	(In millions)
Balance as of January 1		11,022			716		1,109		170
Business combinations (Note 3)		698			182		—		—
Issuance of subsidiary shares		—			100		1,866		286
Accretion of redeemable noncontrolling interests		146			111		127		19
Conversion of iQIYI preferred shares recognized as redeemable noncontrolling interests to ordinary shares		(11,150	)		—		—		—

Balance as of December 31		716			1,109		3,102		475

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

In September 2020, the Company entered into definitive agreements to issue Series A preferred shares of the Group’s smart living business, or Smart Living Group (“SLG”). SLG had issued 61,666,667 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 shares were accounted for as redeemable noncontrolling interests.

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, 2020

Equity Abstract

Shareholders' Equity

20.	SHAREHOLDERS’ EQUITY

Ordinary Shares

The authorized share capital consisted of 69,632,000,000 ordinary shares (previously 870,400,000 ordinary shares before the Share Subdivision as detailed in Note 1) at a par value of US$0.000000625 per share (previously US$0.00005 per share before the Share Subdivision as detailed in Note 1), of which 66,000,000,000 shares were designated as Class A ordinary shares, 2,832,000,000 as Class B ordinary shares, and 800,000,000 shares designated as preferred shares (previously 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 before the Share Subdivision as detailed in Note 1). 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 a 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 nil, nil and 4,200,000 in the years ended December 31, 2018, 2019 and 2020, respectively.

As of December 31, 2020, there were 2,107,228,720 and 571,900,320 Class A and Class B ordinary shares outstanding (previously 26,340,359 and 7,148,754 Class A and Class B ordinary shares before the Share Subdivision as detailed in Note 1), respectively. As of December 31, 2019 and 2020, there were no preferred shares issued and outstanding.

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.

On May 13, 2020, the Company announced a share repurchase program (“2020 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, 2021 in the open market or through privately negotiated transactions, depending on market conditions and in accordance with applicable rules and regulations. In August 2020, the board of directors approved a change to the 2020 share repurchase program, increasing the repurchase authorization from US$1.0 billion to US$3.0 billion, and in December 2020, the repurchase authorization was further increased from US$3.0 billion to US$4.5 billion, which is effective through December 31, 2022.

The Company repurchased 16,573,200, 53,162,720 and 126,096,000 Class A ordinary shares (previously 207,165, 664,534 and 1,576,200 Class A ordinary shares before the Share Subdivision as detailed in Note 1) from the open market with an aggregate purchase price of RMB3.3 billion, RMB5.0 billion and RMB13.1 billion (US$2.0 billion) during the years ended December 31, 2018, 2019 and 2020. 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 the form of cash dividends, loans or advances, nor are they allowed for distribution except under liquidation.


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
PRC statutory reserve funds		626		806		123
Unreserved retained earnings		125,642		134,478		20,610

Total retained earnings		126,268		135,284		20,733

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

legal ownership, totaling RMB40.8 billion and RMB45.0 billion (US$6.9 billion) as of December 31, 2019 and 2020, 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, 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 before reclassification		207			1,981			2,188
Amounts reclassified from accumulated other comprehensive income		(989	)		(2,689	)		(3,678	)

Net current-period other comprehensive loss		(782	)		(708	)		(1,490	)
Other comprehensive income attribute to noncontrolling interests and redeemable noncontrolling interests		(102	)		(1	)		(103	)

Balance at December 31, 2019		(2,584	)		1,201			(1,383	)

Other comprehensive income before reclassification		1,936			380			2,316
Amounts reclassified from accumulated other comprehensive income		—			(541	)		(541	)

Net current-period other comprehensive income (loss)		1,936			(161	)		1,775
Other comprehensive income attribute to noncontrolling interests and redeemable noncontrolling interests		(192	)		(1	)		(193	)

Balance at December 31, 2020		(840	)		1,039			199

Balance at December 31, 2020, in US$		(129	)		159			30

*	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 ASU 2016-13 on January 1, 2018.

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

available-for-sale

investments, which were recorded in “Others, net” in the consolidated statements of comprehensive income (loss). The amounts reclassified were determined on the basis of specific identification. Losses on intracompany foreign currency transactions that are of a long-term-investment nature in the amount of nil, nil and RMB1.2 billion (US$189 million) were included in the foreign currency translation adjustment for the years ended December 31, 2018, 2019 and 2020, respectively.

In October 2019, the Company completed a partial disposal of its investment in Trip and the corresponding accumulated other comprehensive income of RMB989 million was reclassified to income and recorded as “Others, net” in the consolidated statement of comprehensive loss for the year ended December 31, 2019.

The following table sets forth the tax benefit (expense) allocated to each component of other comprehensive income (loss) for the years ended December 31, 2018, 2019 and 2020:


	For the years ended December 31,
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions)
Unrealized gains on available-for-sale investments
Other comprehensive income before reclassification		(409	)		(280	)		(59	)		(9	)
Amounts reclassified from accumulated other comprehensive income		328			402			83			13

Net current-period other comprehensive income (loss)		(81	)		122			24			4

Earnings Per Share ("EPS")

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share ("EPS")

21.	EARNINGS PER SHARE (“EPS”)

Following the Share Subdivision as detailed in Note 1, each ordinary share was subdivided into eighty ordinary shares and each ADS represents eight Class A ordinary shares. The weighted average number of ordinary shares used for the calculation of basic and diluted earnings per share/ADS for the years ended December 31, 2018 and 2019 have been retrospectively adjusted.

A reconciliation of net income attributable to Baidu, Inc. in the consolidated statements of comprehensive income (loss) to the numerator for the computation of basic and diluted per share for the years ended December 31, 2018, 2019 and 2020 is as follows:


	For the years ended December 31,
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions, including number of shares and ADS, except for per share and per ADS data)
Net income attributable to Baidu, Inc.		27,573			2,057			22,472			3,444
Accretion of the redeemable noncontrolling interests		(130	)		(77	)		(88	)		(13	)

Numerator for basic EPS computation		27,443			1,980			22,384			3,431
Impact of subsidiaries’ and investees’ diluted earnings per share		—			(28	)		—			—

Numerator for diluted EPS computation		27,443			1,952			22,384			3,431

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


	For the years ended December 31,
	2018				2019				2020				2020
	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, including number of shares and ADS, except for per share and per ADS data)
Earnings per share—basic:
Numerator
Allocation of net income attributable to Baidu, Inc.		21,780		5,663		1,571		409		17,683		2,710		4,701		721

Denominator
Weighted average ordinary shares outstanding (Note)		2,216		576		2,211		576		2,158		2,158		574		574

Denominator used for basic EPS (Note)		2,216		576		2,211		576		2,158		2,158		574		574

Earnings per share—basic (Note)		9.83		9.83		0.71		0.71		8.19		1.26		8.19		1.26


Earnings per share—diluted:
Numerator
Allocation of net income attributable to Baidu, Inc. for diluted computation		21,824		5,619		1,549		403		17,723		2,716		4,661		715
Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares		5,619		—		403		—		4,661		715		—		—

Numerator for diluted EPS calculation		27,443		5,619		1,952		403		22,384		3,431		4,661		715

Denominator
Weighted average ordinary shares outstanding (Note)		2,216		576		2,211		576		2,158		2,158		574		574
Conversion of Class B to Class A ordinary shares (Note)		576		—		576		—		574		574		—		—
Share-based awards (Note)		22		—		4		—		24		24		—		—

Denominator used for diluted EPS (Note)		2,814		576		2,791		576		2,756		2,756		574		574

Earnings per share—diluted (Note)		9.75		9.75		0.70		0.70		8.12		1.24		8.12		1.24


Earnings per ADS (1 ADS equals 8 Class A ordinary shares):
Denominator used for earnings per ADS—basic (Note)		277				276				270		270

Denominator used for earnings per ADS—diluted (Note)		352				349				344		344

Earnings per ADS—basic (Note)		78.64				5.68				65.54		10.04

Earnings per ADS—diluted (Note)		78.03				5.60				64.98		9.96

Note:

Basic and diluted net income per ordinary share, weighted average number of shares and the adjustments for dilutive restricted share and share options for the years ended December 31, 2018, 2019 and 2020 have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that became effective on March 1, 2021, as detailed in Note 1

The Company did not include certain stock options, restricted shares and the effect of convertible senior notes issued by iQIYI in the computation of diluted earnings per share for the years ended December 31, 2018, 2019 and 2020 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, 2020

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

Share-Based Awards Plan

22.	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 274,302,160 Class A ordinary shares (previously 3,428,777 Class A ordinary shares before the Share Subdivision as detailed in Note 1) for issuance under the 2008 Plan, which expired in the year 2018. The vesting schedule, time and condition to exercise options is determined by the Company’s 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 275,516,000 Class A ordinary shares (previously 3,443,950 Class A ordinary shares before the Share Subdivision as detailed in Note 1) 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.

Following the Share Subdivision that became effective on March 1, 2021 as detailed in Note 1 and Note 21, each Class A ordinary share was subdivided into eighty Class A ordinary shares and each ADS represents eight Class A ordinary shares. Prior and subsequent to March 1, 2021, one ordinary share was and will be issuable upon the vesting of one outstanding restricted share or the exercise of one outstanding share option, respectively. Therefore, following the Share Subdivision, each share option and restricted share is subdivided into eighty share options and eighty restricted shares, the weighted average grant date fair value per restricted share and the weighted average exercise price per share option is diluted by eighty times. The number of restricted shares and share options, the weighted average grant date fair value per restricted share and the weighted average exercise price per share option has been retrospectively adjusted for the Share Subdivision in the following tables.

Incentive share options

The following table summarizes the option activity for the years ended December 31, 2020:


	Number of share options (Note)			Weighted average exercise price (US$) (Note)		Weighted average remaining contractual life (Years)		Aggregate intrinsic value (US$ in millions)
Incentive share options
Outstanding, December 31, 2019		29,854,480			17		8		72
Granted		1,028,240			11
Exercised		(3,516,400	)		13
Forfeited/Cancelled		(3,147,280	)		17

Outstanding, December 31, 2020		24,219,040			17		7		245

Vested and expected to vest at December 31, 2020		19,756,080			18		7		186

Exercisable at December 31, 2020		12,098,400			21		5		78

Note:

The number of share options and weighted average exercise price has been retrospectively adjusted for the Share Subdivision that became effective on March 1, 2021 as detailed in Note 1 and Note 21.

The aggregate intrinsic value in the table above represents the difference between the Company’s closing stock price on the last trading day in 2020 and the exercise price.

Total intrinsic value of options exercised for the years ended December 31, 2018, 2019 and 2020 was RMB474 million, RMB77 million and RMB157 million (US$24 million), respectively. The total fair value of options vested during the years ended December 31, 2018, 2019 and 2020 was RMB956 million, RMB216 million and RMB261 million (US$40 million), respectively.

Share options are usually subject to vesting schedules ranging from two to four years. As of December 31, 2020, RMB215 million (US$33 million) of unrecognized share-based compensation cost related to share options is expected to be recognized over a weighted-average vesting period of 1.8 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
	2018			2019			2020
Risk-free interest rate		2.57	%		1.58%~2.49	%		1.51~1.52	%
Dividend yield		—			—			—
Expected volatility range		34.47%~35.36	%		34.62%~35.14	%		34.83%~34.92	%
Expected life (in years)		4.89~6.25			5.83~6.03			5.90~6.01

In addition, the Company recognizes share-based compensation expense net of estimated forfeiture rates, to recognize compensation cost for shares expected to vest over the service period of the award. Estimated forfeiture rates are primarily based on historical experience of employee turnover. To the extent the Company 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

The exercise price of options granted during the years ended December 31, 2018, 2019 and 2020 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, 2018, 2019, and 2020 was US$13, US$5, and US$9, respectively.

Restricted Shares

Restricted Shares activity for the year ended December 31, 2020 was as follow:


	Number of shares (Note)			Weighted average grant date fair value (US$) (Note)
Restricted Shares
Unvested, December 31, 2019		113,604,320			19
Granted		73,900,080			14
Vested		(35,078,640	)		20
Forfeited/Cancelled		(21,924,240	)		17

Unvested, December 31, 2020		130,501,520			16

Note:

The number of restricted shares and weighted average grant date fair value has been retrospectively adjusted for the Share Subdivision that became effective on March 1, 2021 as detailed in Note 1 and Note 21.

The total fair value of the Restricted Shares vested during the years ended December 31, 2018, 2019 and 2020 was RMB3.4 billion, RMB4.1 billion, RMB4.6 billion (US$700 million), respectively. The weighted-average grant-date fair value of the Restricted Shares granted during the years ended December 31, 2018, 2019, and 2020 was US$28, US$16, and US$14, respectively.

As of December 31, 2020, there was RMB6.4 billion (US$1.0 billion) of unrecognized share-based compensation cost related to Restricted Shares, which is expected to be recognized over a weighted-average vesting period of

3.0 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 Company 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 2010 Plan is valid and effective for an original term of ten years, and further extended to twenty years on September 15, 2020 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,

020, 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

% of the awards vesting on the first anniversary, and the remaining

% 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 share options			Weighted average exercise price ( US$ )		Weighted average remaining contractual life (Years)		Aggregate intrinsic value ( US$ in millions)
Outstanding, December 31, 2019		406,912,618			0.48		7		1,031
Granted		88,611,584			0.51
Forfeited		(12,111,374	)		0.51
Exercised		(62,714,554	)		0.44

Outstanding, December 31, 2020		420,698,274			0.49		7		846

Vested and expected to vest at December 31, 2020		401,055,919			0.48		7		807

Exercisable at December 31, 2020		245,054,484			0.47		7		498

As of December 31, 2020, there was RMB2.2 billion (US$338 million) of 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 2.7 years.

2017 Share Incentive Plan

In November 2017, iQIYI adopted its 2017 Share Incentive Plan (the “iQIYI 2017 Plan”). Under the iQIYI 2017 Plan, iQIYI is authorized to grant options, restricted shares and restricted share units to members of the board, employees, consultants and other individuals for which the maximum aggregate number of ordinary shares which may be issued pursuant to all awards is 720,000 iQIYI’s ordinary shares. The iQIYI 2017 Plan is valid and effective for a term of ten years commencing from its adoption. Except for service conditions, there are no other vesting conditions for all the awards issued under the 2017 Plan. As of December 31, 2020, the unrecognized share-based compensation cost related to its Restricted Shares is insignificant.

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


	For the years ended December 31,
	2018		2019		2020		2020
	RMB		RMB		RMB		US$
	(In millions)
Expensed as cost of revenues		83		171		202		31
Expensed as selling, general and administrative		369		676		851		130
Expensed as research and development		104		238		317		49

		556		1,085		1,370		210

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


	For the years ended December 31,
	2018		2019		2020		2020
	RMB		RMB		RMB		US$
	(In millions)
Expensed as cost of revenues		224		327		360		55
Expensed as selling, general and administrative		1,725		1,768		1,897		290
Expensed as research and development		2,727		3,531		4,471		686

		4,676		5,626		6,728		1,031

Related Party Transactions

12 Months Ended

Dec. 31, 2020

Related Party Transactions

23.	RELATED PARTY TRANSACTIONS

Related party transactions primarily related to online marketing services, cloud services and other services provided by the Company to certain investees. The following table summarizes the revenue received from major related parties in fiscal year 2018, 2019 and 2020.


	For the years ended December 31,
	2018		2019		2020		2020
	RMB		RMB		RMB		US$
Revenues:
Trip		774		627		204		31
Du Xiaoman		256		731		678		104
Investee C (i)		143		280		949		145
Others		421		1,394		1,015		156

Total		1,594		3,032		2,846		436

(i)	Investee C is one of the Company’ investees, over which the Company has significant influence.

The Group purchased produced content and licensed copyrights, traffic acquisition and other services from equity investees in

amount

RMB

297

million, RMB

3.0

billion and RMB

1.9

billion (US$

290

million) for the years ended December 31, 2018, 2019 and 2020, respectively. 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, 2019 and 2020, amounts due from/due to related parties were as follows:

Expect for the non-trade balances as of December 31, 2019 and 2020 relate to transactions disclosed below, amounts due from/due to related parties arising from the ordinary and usual course of business of the Group and were trade in nature.


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Amounts due from related parties, current:
Trip (i)		96		22		3
Du Xiaoman (ii)		737		306		47
Investee A (iii)		345		—		—
Investee C (iv)		115		212		32
Other related parties (v)		301		186		29

Total		1,594		726		111

Amounts due from related parties, non-current:
Du Xiaoman (ii)		3,391		3,398		521
Other related parties (vi)		173		40		6

Total		3,564		3,438		527

Amounts due to related parties, current:
Trip (vii)		49		50		8
Du Xiaoman (viii)		973		489		75
Investee A (ix)		476		—		—
Investee B (x)		249		175		27
Other related parties (xi)		484		610		93

Total		2,231		1,324		203

Amounts due to related parties, non-current:
Du Xiaoman (xii)		3,430		3,216		493
Investee B (x)		410		325		50
Other related parties (xiii)		6		2		—

Total		3,846		3,543		543

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

(ii)	The balances represent non-trade long-term loans due from Du Xiaoman with interest rates ranging from 0.00% to 0.50% in 2020, and amounts arising from services the Company provided to Du Xiaoman.

(iii)

The balance mainly represents a non-trade interest-bearing loan provided to Investee A, which was an equity investee as of December 31, 2019. The Company acquired Investee A on July 16, 2020, and accordingly, all corresponding outstanding balance has been eliminated in the consolidated balance sheet.

(iv)	The balances mainly represent amounts arising from services including online marketing services and cloud services the Company provided to Investee C.

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

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

(vii)

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

(viii)

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 non-trade loans provided by Du Xiaoman with interest rates of nil in 2020.

(ix)

The balances mainly represent amounts arising from hardware products purchased from Investee A, and a

non-trade

interest-bearing loan provided by the Investee A, as of December 31, 2019. The Company acquired Investee A on July 16, 2020, and accordingly, all corresponding outstanding balances have been eliminated in the consolidated balance sheet.

(x)	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 investee.

(xi)	The balances mainly represent amounts arising from services including advertising services and licensing of content assets provided by the Company’s investees and non-trade amounts payable for acquiring the equity interest of the Company’s investees.

(xii)

The balances mainly represent non-trade interest-free long-term loans provided by Du Xiaoman.

(xiii)

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

Segment Reporting

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Reporting

24.	SEGMENT REPORTING

The Company’s operations are organized into two

segments, consisting of Baidu Core and iQIYI. Within Baidu Core, the Company’s product and services offerings are categorized as follows—Mobile Ecosystem, Baidu Cloud and Apollo Intelligent Driving & Other Growth Initiatives. iQIYI is an innovative market-leading online entertainment service. iQIYI’s platform features iQIYI original content, as well as a comprehensive library of other professionally produced content (PPC), professional user generated content (PUGC) and user-generated content.

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, 2018.


	For the year ended December 31, 2018
	Baidu Core			iQIYI			Intersegment eliminations & adjustments			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			RMB			RMB			RMB
	(In millions)
Total revenues		79,711			28,994			(1,292	)		107,413

Operating costs and expenses:
Cost of revenues		34,019			30,348			(1,517	)		62,850
Selling, general and administrative		14,733			5,237			(60	)		19,910
Research and development		15,698			2,667			(19	)		18,346

Total operating costs and expenses		64,450			38,252			(1,596	)		101,106

Operating profit (loss)		15,261			(9,258	)		304			6,307

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

Income (loss) before income taxes		9,581			(10,225	)		304			(340	)

Income taxes		1,896			52			—			1,948

Net income (loss)		7,685			(10,277	)		304			(2,288	)

Less: net income (loss) attributable to noncontrolling interests		105			46			(4,496	)		(4,345	)

Net income (loss) attributable to Baidu, Inc.		7,580			(10,323	)		4,800			2,057

The table below provides a summary of the Group’s operating segment operating results for the year ended December 31, 2020.


	For the year ended December 31, 2020
	Baidu Core						iQIYI						Intersegment eliminations						Consolidated
	RMB			US$			RMB			US$			RMB			US$			RMB			US$
	(In millions)
Total revenues		78,684			12,059			29,707			4,553			(1,317	)		(202	)		107,074			16,410

Operating costs and expenses:
Cost of revenues		28,368			4,348			27,884			4,273			(1,094	)		(167	)		55,158			8,454
Selling, general and administrative		12,931			1,982			5,188			795			(56	)		(8	)		18,063			2,769
Research and development		16,847			2,581			2,676			410			(10	)		(2	)		19,513			2,989
Total operating costs and expenses		58,146			8,911			35,748			5,478			(1,160	)		(177	)		92,734			14,212

Operating profit (loss)		20,538			3,148			(6,041	)		(925	)		(157	)		(25	)		14,340			2,198

Total other income (loss), net		9,693			1,486			(943	)		(145	)		—			—			8,750			1,341

Income (loss) before income taxes		30,231			4,634			(6,984	)		(1,070	)		(157	)		(25	)		23,090			3,539

Income taxes		4,041			619			23			4			—			—			4,064			623

Net income (loss)		26,190			4,015			(7,007	)		(1,074	)		(157	)		(25	)		19,026			2,916


Less: net income (loss) attributable to noncontrolling interests		(334	)		(50	)		31			5			(3,143	)		(483	)		(3,446	)		(528	)

Net income (loss) attributable to Baidu, Inc.		26,524			4,065			(7,038	)		(1,079	)		2,986			458			22,472			3,444

The following table presents the Company’s revenues disaggregated by segment and by types of products or services:


	For the years ended
	December 31, 2018			December 31, 2019			December 31, 2020			December 31, 2020
	RMB			RMB			RMB			US$
	(In millions)
Online marketing services		72,645			70,038			66,283			10,158
Cloud services ( N ote 1)		3,005			6,370			9,173			1,406
Interest income earned from provision of financial services		1,724			—			—			—
Others ( N ote 1)		897			3,303			3,228			495

Baidu Core Subtotal		78,271			79,711			78,684			12,059

Membership services ( N ote 1)		10,623			14,436			16,491			2,527
Online advertising services ( Note 2 )		9,329			8,271			6,822			1,046
Content distribution ( N ote 1)		2,163			2,544			2,660			408
Others ( N ote 1)		2,874			3,743			3,734			572

iQIYI Subtotal		24,989			28,994			29,707			4,553
Intersegment eliminations		(983	)		(1,292	)		(1,317	)		(202	)

Total revenue		102,277			107,413			107,074			16,410

Note 1: The revenues were presented as “Others” in the consolidated statements of comprehensive income (loss)

Note 2: The revenues were presented as “Online marketing revenue” in the consolidated statements of comprehensive income (loss)

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 34
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

25.	FAIR VALUE MEASUREMENTS

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


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 on 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 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 estimated based on the 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 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 of the investees, 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 sheets and presents the fair value for disclosure purposes only.


			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		RMB		RMB		RMB
	(In millions)
Fair value disclosure

Cash equivalents:
Time deposits		10,848				10,848
Money market funds		1,719		1,719

Short-term investments:
Held-to-maturity debt investments		107,654				107,654

Long-term investments:
Held-to-maturity debt investment		491				491

Long-term notes payable		45,282				45,282

Convertible senior notes		14,142				14,142

Fair value measurements on a recurring basis

Short-term investments:
Available-for-sale debt investments		5,637				5,637

Long-term investments:
Equity investments at fair value with readily determinable fair value		11,334		11,334
Investments accounted for at fair value		1,819						1,819
Available-for-sale debt investments		3,970						3,970

Other non-current assets:
Derivative instruments		24				24

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

Accounts payable and accrued liabilities:
Derivative instruments		125						125

Amounts due to related parties, non-current:
Financial liability		401				401

Total liabilities measured at fair value		526				401		125


			Fair value measurement or disclosure at December 31, 2020 using
	Total fair value at December 31, 2020				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		16,133		2,472				16,133
Money market funds		198		30		198

Short-term investments:
Held-to-maturity debt investments		124,132		19,024				124,132

Convertible senior notes, current portion		4,967		761				4,967

Long-term investments:
Held-to-maturity debt investment		9,754		1,495				9,754

Long-term notes payable		52,575		8,057				52,575

Convertible senior notes, non-current portion		12,078		1,851				12,078

Fair value measurements on a recurring basis

Short-term investments:
Available-for-sale debt investments		2,865		439				2,865

Long-term investments:
Equity investments at fair value with readily determinable fair value		12,978		1,989		12,978
Investments accounted for at fair value		2,238		343						2,238
Available-for-sale debt investments		2,607		400						2,607

Total assets measured at fair value		20,688		3,171		12,978		2,865		4,845

Accounts payable and accrued liabilities:
Derivative instruments		40		6				40

Amounts due to related parties, current:
Financial liability		327		50				327

Total liabilities measured at fair value		367		56		—		367

Reconciliations of assets categorized within Level 3 under the fair value hier

rchy are as follow:

Investments accounted for at fair value:


	Amounts
	RMB
	(In millions)
Balance at December 31, 2018		1,457
Additions		282
Disposals		(128	)
Net unrealized fair value increase recognized in earnings		197
Foreign currency translation adjustments		11

Balance at December 31, 2019		1,819
Additions		371
Disposals		(63	)
Net unrealized fair value increase recognized in earnings		151
Foreign currency translation adjustments		(40	)

Balance at December 31, 2020		2,238

Balance at December 31, 2020, in US$		343

Available-for-sale

debt investments:


	Amounts
	RMB
	(In millions)
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
Additions		5
Disposals		(500	)
Reclassification		412
Conversion to equity investment		(1,355	)
Share of losses in excess of equity method investment in ordinary shares		(82	)
Net unrealized fair value increase recognized in other comprehensive income		153
Accrued interest		68
Foreign currency translation adjustments		(64	)

Balance at December 31, 2020		2,607

Balance at December 31, 2020, in US$		400

Assets measured at fair value on a

non-recurring

basis

The Company measures certain

non-financial

assets on a nonrecurring basis

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 expected volatility and probability of exit events as it relates to liquidation and redemption preferences. When there is impairment of equity securities accounted for under the measurement alternative and equity method investments, the

non-recurring

fair value measurements are measured at the date of impairment. The fair values of the Company’s equity method investments in publicly listed companies are measured using quoted market prices. Estimating the fair value of investees without observable market prices is highly judgmental due to the subjectivity of the unobservable inputs (level 3) used in the valuation methodologies used to determine fair value, especially considering the increased market volatility in the global financial markets after the

COVID-19

outbreak. The Company uses valuation methodologies, primarily the market approach, which requires management to use unobservable inputs (level 3) such as selection of comparable companies and multiples, expected volatility, discount for lack of marketability and probability of exit events as it relates to liquidation and redemption preferences when applicable. These unobservable inputs and resulting fair value estimates may be affected by unexpected changes in future market or economic conditions. The fair value information presented is not as of the period’s end, and is sensitive to changes in the unobservable inputs used to determine fair value and such changes could result in the fair value at the reporting date to be different from the fair value presented.

Other

non-financial

assets, intangible assets, licensed copyrights and produced content, would be measured at fair value whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable. The fair values of

non-financial

long-lived assets were measured under income approach, based on the Company’s best estimation. Significant inputs used in the income approach primarily included future estimated cash flows and discount rate.

The following table summarizes the Company’s financial assets held as of December 31, 2019 and 2020 for which a

non-recurring

fair value measurement was recorded during the years

ended December 31, 2019 and 2020:


	Total Balance				Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant 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, 2019
Long-term investments		22,778				14,105		358		8,315		(230	)				(9,989	)
Intangible assets		76				—		—		76							(406	)

As of December 31, 2020
Long-term investments (i)		14,205		2,177		367		—		13,838		3,725			571		(1,862	)		(285	)
Intangible assets (i)		62		10		—		—		62							(350	)		(54	)
Mainland China film group—Licensed copyrights as of March 31, 2020 (ii)		7,186		1,101		—		—		7,186							(390	)		(60	)
Mainland China film group—Produced contents as of March 31, 2020 (ii)		4,124		632		—		—		4,124							(210	)		(32	)
Produced content monetized on its own (iii)		40		6		—		—		40							(205	)		(31	)

(i)

Due to factors such as the outbreak of coronavirus (COVID-19) resulting in declined financial performances and changes in business circumstances of certain investees, the Company recognized impairment charges of long-term investments as of March 31, 2020 June 30, 2020 and December 31, 2020. 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. The Company also recognized impairment loss on intangible assets as of March 31, 2020.

(ii)

The outbreak of

COVID-19

during the first quarter of 2020 also has resulted in a downward adjustment to forecasted advertising revenues for the Mainland China film group. As a result, the Company performed an assessment to determine whether the fair value of the Mainland China film group was less than its unamortized film costs as of March 31, 2020 with the assistance of a third-party valuation firm. The Company uses a discounted cash flow approach to estimate the fair value. The Company estimated the most likely future cash flows based on historical results, economic useful lives or license periods and perception of future performance. The Company has incorporated those cash outflows necessary to generate the cash inflows, including future production, operation, exploitation and administrative costs, which were estimated at 32%-37% of revenue in aggregate. The discount rate was determined to be the weighted average cost of capital of the Mainland China film group at 15%. As of March 31, 2020, the fair value of the Mainland China film group was less than its corresponding carrying value and resulted in the Company recognizing an impairment charge of RMB390 million (US$60 million) related to licensed copyrights and RMB210 million (US$32 million) related to produced content, respectively. The impairment charge was recognized as cost of revenues in the consolidated statement of comprehensive income for the year ended December 31, 2020.

(iii)

In addition, due to adverse changes in the expected performance of certain produced content and the reduced amount of ultimate revenue expected to be recognized, an impairment charge of RMB205 million (US$31 million) was recognized for produced content predominantly monetized on its own and was recognized as cost of revenues in the consolidated statement of comprehensive income for the year ended December 31, 2020.

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.

Recently adopted accounting pronouncements

Subsequent Events

12 Months Ended

Dec. 31, 2020

Subsequent Events [Abstract]

Subsequent Events

26.	SUBSEQUENT EVENTS

Acquisition of YY Live

In November 2020, the Company entered into definitive agreements with JOYY Inc. (“JOYY”), subsequently amended in February 2021, to acquire JOYY’s domestic video-based entertainment live streaming business in China (“YY Live”) for total cash consideration of US$3.3 billion (equivalent to approximately RMB21,532 million), subject to certain adjustments, as well as contingent cash consideration of up to US$300

illion (equivalent to approximately RMB2.0 billion) if certain performance conditions are met post-acquisition. The acquisition has been substantially completed, with certain customary matters remaining to be completed in the near future.

The transaction will be accounted for as a business combination. The initial accounting for the business combination is incomplete as the Company is still in the process of measuring the fair value of the consideration transferred, identifiable intangible assets and other assets and liabilities to be recognized upon acquisition, including deferred tax liabilities. Based on information available at this time, the Company determined a preliminary purchase price allocation based on the following provisional amounts: total consideration transferred of RMB22.1 billion which is mainly allocated to intangible assets of RMB6.8 billion, deferred tax liabilities of RMB1.0 billion, and resulting provisional goodwill of RMB16.2 billion, respectively.

iQIYI 2026 Notes and follow-on public offering of ADSs of iQIYI

In connection with the issuance of the iQIYI 2026 Convertible Notes on December 21, 2020, an additional US$100 million of principal amount was issued on January 8, 2021 pursuant to the underwriters’ exercise of their option to purchase additional notes. The net proceeds received by iQIYI for this additional issuance was US$98 million (equivalent to RMB641 million).

In connection with iQIYI’s follow-on offering on December 21, 2020, the underwriters had partially exercised their option to purchase additional ADSs of iQIYI. The net proceeds received by iQIYI for this issuance of additional Class A ordinary shares was US$78 million (equivalent to RMB510 million).

Unsecured US$ floating rate term loan and revolving loan of the Company

In February 2021, the Company entered into a non-binding term sheet for a term and revolving facility with a group of five mandated lead arrangers, bookrunners and underwriters, pursuant to which we plan to borrow an unsecured US$ denominated floating rate term loan of US$1.5 billion with a term of 5 years and to borrow an unsecured US$ denominated revolving loan of US$1.5 billion for 5 years. The facility is intended for our general working capital use.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Adoption of ASU

2016-13

In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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 and is codified in ASC Topic 326,

Credit Losses

(“ASC 326”). ASU

2016-13

Adoption of ASU 2017-04

In January 2017, the FASB issued ASU No.

2017-04,

Simplifying the Test for Goodwill Impairment

Adoption of ASU

2019-02

In March 2019, the FASB issued ASU No.

2019-02,

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

(“ASU

2019-02”),

which includes the following major changes from previous legacy GAAP that are applicable to the Company:

•

The content distinction for capitalization of production costs of an episodic television series and production costs of films is removed;

•

Entities shall assess estimates of the use of a film in a film group and account for such changes prospectively;

•

Cash outflows for the costs incurred to obtain rights for both produced and licensed content are required to be reported as operating cash outflows in the statement of cash flows.

The Company adopted ASU

2019-02

2019-02.

Cash paid for content, which includes both licensed copyrights and produced content, is RMB17.0 billion (US$2.6 billion) for the year ended December 31, 2020.

Principles of Consolidation

Foreign Currency

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

Foreign Currency Matters

Segment Reporting

As of December 31, 2019 and 2020, the Company had

two

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

re-measurement

gain or loss, if any, is recognized in “Others, net” in the consolidated statements of comprehensive income (loss).

Cash and Cash Equivalents and Restricted Cash

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents

three months

or less from the date of purchase and are stated at cost which approximates their fair value.

Restricted cash

Restricted cash mainly represents escrow amount deposited for a business acquisition and cash pledged for short-term facilities.

Accounts Receivable and contract asset, net of allowance

Accounts Receivable and Contract Assets, net

comprehensive income (loss).The Company assesses collectability by reviewing accounts receivable and contract

Receivables from Online Payment Agencies, net of allowance

Receivables from Online Payment Agencies, net

Investments

Short-term

investments

All highly liquid investments with original maturities 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 the positive intent and ability to hold to maturity are classified as

held-to-maturity

securities and stated at amortized cost less allowance for credit losses.

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 (loss) income” on the consolidated balance sheets.

Long-term investments

The Company adopted ASU No. 2016-01,

Recognition and Measurement of Financial Assets and Financial Liabilities

(“ASU 2016-01”), codified in ASC Topic 321,

Investments—Equity Securities

(“ASC 321”), from January 1, 2018 and the cumulative effect of RMB1.9 billion representing the unrealized gains of

available-for-sale

Fair Value Measurements and Disclosures

Investments-Equity Method and Joint Ventures

consolidated subsidiary. The Company subsequently adjusts the carrying amount of its investment to recognize

one-quarter

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

In accordance with ASC Subtopic

946-320,

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

(“ASC 946-320”)

re-measured

at each reporting date in accordance with ASC 820.

Fair Value Measurements of Financial Instruments

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

non-current

based on estimated time of usage.

Produced Content, net

The Company produces original content

in-house

non-current

Change in accounting estimates of licensed copyrights and produced content

Impairment of licensed copyrights and produced contents

Impairment of licensed copyrights and produced content

content assets, whereas a smaller portion of the Company’s content assets are predominantly monetized at a

Impact of COVID-19

Impact of

COVID-19

During the year ended December 31, 2020, the Company’s operations has been affected by the

COVID-19

COVID-19.

COVID-19

and other factors. In addition, increased market volatility has contributed to larger fluctuations in the valuation of the Company’s equity investments.

There are still uncertainties of

COVID-19’s

future impact, and the extent of the impact will depend on a number of factors, including the duration and severity of

COVID-19,

Goodwill and Intangible Assets

Goodwill

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, 2019 and 2020, the Company has

two

reporting units, consisting of Baidu Core and iQIYI.

more-likely-than-not

The Company performed qualitative assessments for the reporting unit of Baidu Core in 2019 and 2020. 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, 2019 and 2020.

Intangible assets

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


Trademarks		– 10 years
Technology		– 7 years
Intellectual property right		– 7 years
Online literature		– 8 years
Others		– 8 years

350-30,

Intangibles-Goodwill and Other: General Intangibles Other than Goodwill

(“ASC

350-30”).

Upon the initial application of ASU No. 2016-02,

Leases (Topic 842)

(“ASU 2016-02”) on January 1, 2019, codified in ASC 842,

Leases (

“ASC 842”

)

, 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.

Impairment of Long-Lived Assets Other Than Goodwill

Property, Plant and Equipment

Leases

non-lease

Revenue Recognition

The Company adopted ASU No. 2014-09,

Revenue from Contracts with Customers (Topic 606)

(“ASU 2014-09”),

codified in ASC Topic 606,

Revenue from Contracts with Customers

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”)

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

Company recognizes revenue on a

pro-rata

Baidu Union online marketing services

Collection

Sales incentives

Membership services

non-refundable

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-licensing

Cloud services

Sales of hardware

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.

Advertising and Promotional Expenses

consolidated statements of comprehensive income (loss) and are expensed when incurred. Advertising and promotional expenses for the years ended December 31, 2018, 2019 and 2020 were RMB

10.1

billion, RMB

10.5

billion and RMB

8.4

billion (US$

1.3

billion), respectively.

Research and development expenses

Intangibles-Goodwill and Other, Internal-Use

Software

; and (ii) costs incurred to develop software to be sold/licensed or embedded in its products sold to

customers, which are capitalized once technology feasibility is established,

which

is when a completed detail program design of the product is available in accordance with ASC 950-20,

Costs of Software

to be

Sold, Leased

Marketed

. Capitalized software development costs have not been material for the periods presented.

Government Subsidies

Government subsidies primarily consist of financial subsidies received from

provincial

non-operating

nature with no further conditions to be met are recorded as

non-operating

, net” or as a reduction of specific operating costs and expenses when the conditions are met for which the grants are intended to compensate.

Income Taxes

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.

tax-free

liquidation.

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 adopted ASU No. 2018-07,

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

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

Contingencies

Concentration of Risks

Concentration of credit risk

and these losses have generally been within its expectations. As of December 31, 2019 and 2020, the Company had

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

customer or any Baidu Union partner generated greater than 10% of total revenues in any of the three years presented.

Business and economic risks

COVID-19.

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

Derivative Instruments

rivative Instruments

ASC Topic 815,

Derivatives and Hedging

Recent Accounting Pronouncements

In January 2020, the FASB issued ASU No. 2020-01,

August 2020, the FASB issued ASU

No. 2020-06,

Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

(“ASU

2020-06”),

which focuses on amending the legacy guidance on convertible instruments and the derivatives scope exception for contracts in an entity’s own equity. ASU

2020-06

simplifies an issuer’s accounting for convertible instruments by reducing the number of accounting models that require separate accounting for embedded conversion features. ASU

2020-06

also simplifies the settlement assessment that entities are required to perform to determine whether a contract qualifies for equity classification. Further, ASU

2020-06

enhances information transparency by making targeted improvements to the disclosures for

convertible instruments and

earnings-per-share

(EPS) guidance, i.e., aligning the diluted EPS calculation for convertible instruments by requiring that an entity use the

if-converted

2020-06

on its consolidated financial statements

and related disclosure.

Organization and Basis of Presentation (Tables)

12 Months Ended

Dec. 31, 2020

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,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Assets
Cash and cash equivalents		2,313		2,348		360
Short-term investments, net		1,892		6,930		1,062
Accounts receivable, net		5,023		6,614		1,014
Others		5,750		8,097		1,241

Total current assets		14,978		23,989		3,677

Fixed assets, net		3,839		4,978		763
Intangible assets, net		1,404		1,499		230
Licensed copyrights, net		1,641		993		152
Produced content, net		4,355		6,130		939
Long-term investments, net		21,825		20,707		3,173
Operating lease right-of-use assets		6,525		6,460		990
Others		7,970		7,717		1,183

Total non-current assets		47,559		48,484		7,430

Total		62,537		72,473		11,107

Liabilities
Accounts payable and accrued liabilities		15,774		15,420		2,363
Customer deposits and deferred revenue		4,841		6,047		927
Operating lease liabilities		2,110		2,068		317
Others		1,967		1,516		232

Total current third-party liabilities		24,692		25,051		3,839


Operating lease liabilities		4,227		4,376		671
Others		2,068		1,143		175

Total non-current third-party liabilities		6,295		5,519		846

Amounts due to the Company and its non-VIE subsidiaries, net		17,121		19,592		3,003

Total		48,108		50,162		7,688


	For the years ended December 31,
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions)
Total revenues		33,992			51,988			52,666			8,071
Net (loss) income		(6,834	)		(2,950	)		2,091			320
Net cash provided by operating activities		2,396			1,649			4,616			707
Net cash used in investing activities		(16,674	)		(4,829	)		(8,382	)		(1,285	)
Net cash provided by financing activities		11,916			3,604			3,859			591

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.

Estimated Useful lives of Fixed Assets

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]


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:


Trademarks		– 10 years
Technology		– 7 years
Intellectual property right		– 7 years
Online literature		– 8 years
Others		– 8 years

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2020

Business Acquisition [Line Items]

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 19)		(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
	(In millions)
Purchase consideration		1,168

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

		1,168

Business combinations in 2020

Business Acquisition [Line Items]

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		3,499			536

Net assets acquired, excluding intangible assets and the related deferred tax liabilities		1,515			231
Intangible assets, net		1,116			171
Deferred tax liabilities		(229	)		(35	)
Pre-existing equity interests and debt investment		(2,103	)		(322	)
Noncontrolling interests		(798	)		(122	)
Goodwill		3,998			613

		3,499			536

Investments (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Investments at Amortized Cost and Fair Value

Short-term investments classification as of December 31, 2019 and 2020 were shown as below:

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

(In millions)

Held-to-maturity

debt investments

107,287

367

—

107,654

Available-for-sale

debt investments

5,440

—

197

—

5,637


	As of December 31, 2020
	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		123,537		595		—		—		—		124,132		19,024
Available-for-sale debt investments		2,862		—		—		3		—		2,865		439

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, 2019 and 2020 were as follows:


	For the years ended December 31,
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions)
Gross unrealized gains		7,119			1,447			4,396			674
Gross unrealized losses (including impairment) (i)		(2,867	)		(1,641	)		(2,679	)		(411	)

Net unrealized gains (losses) on equity securities held		4,252			(194	)		1,717			263
Net realized gains on equity securities sold		124			211			266			41

Total net gains recognized		4,376			17			1,983			304

(i)	Gross unrealized losses (downward adjustments excluding impairment) were RMB 2.4 billion, RMB 863 million and RMB 378 million (US$ 58 million) for the years ended December 31, 2018, 2019 and 2020, respectively.

Equity Method Investments

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


	As of September 30, (i)
	2019 (ii)		2020		2020
	RMB		RMB		US$
	(In millions)
Current assets		75,578		65,782		10,082
Non-current assets		127,505		132,417		20,294
Current liabilities		74,118		61,360		9,404
Non-current liabilities		25,134		36,558		5,603
Noncontrolling interests		2,047		1,566		240


	For the twelve months ended September 30, (i)
	2018 (ii)		2019 (ii)		2020			2020
	RMB		RMB		RMB			US$
	(In millions)
Total revenues		29,944		34,958		21,704			3,326
Gross profit		24,019		27,627		16,838			2,581
Income (loss) from operations		3,302		4,271		(827	)		(127	)
Net income (loss)		2,807		3,764		(2,236	)		(343	)
Net income (loss) attributable to the investees		2,806		3,813		(2,243	)		(344	)

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

(ii)	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 was immaterial, and prior period financial information of Trip 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,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Due in 1 year		505		—		—
Due in 1 year through 5 years		10		1,587		244
Due in 5 years through 10 years		1,486		—		—
Not due at a single maturity date		1,969		1,020		156

Total		3,970		2,607		400

Summary Of Estimated Fair Value of Long-Term Held-To-Maturity Investments

The following table summarizes amortized cost of long-term held-to-maturity investments with stated contractual dates, classified by the contractual maturity date of the investments:


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Due in 1 year		—		—		—
Due in 1 year through 2 years		496		9,690		1,485
Due in 2 years through 3 years		—		50		8

Total		496		9,740		1,493

Long Term Investments

Schedule of Investments at Amortized Cost and Fair Value

Long-term investments classification, excluding equity method investments and equity investments without readily determinable fair value, as of December 31, 2019 and 2020 are shown as below:


	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
	(In millions)
Equity investments at fair value with readily determinable fair value		11,769		—		—		2,195		(2,630	)		11,334
Available-for-sale debt investments		3,913		—		—		138		(81	)		3,970
Investments accounted for at fair value		1,309		—		—		597		(87	)		1,819


	As of December 31, 2020
	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		8,419		—		—		7,342		(2,783	)		12,978		1,989
Available-for-sale debt investments		2,804		—		—		166		(363	)		2,607		400
Investments accounted for at fair value		1,580		—		—		885		(227	)		2,238		343

Summary Of Estimated Fair Value of Long-Term Held-To-Maturity Investments

Long-term held-to-maturity investments classification as of December 31, 2019 and 2020 were shown as below:

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

(In millions)

Long-term held-to-maturity investments

496

—

)

—

491

As of December 31, 2020

Cost or
Amortized
cost

Gross

unrecognized
holding gains

Gross
unrecognized
holding
losses

Gross
unrealized
gains

Gross
unrealized
losses

Fair value

RMB

US$

(In millions)

Long-term held-to-maturity investments

9,740

—

9,754

1,495

Summary of Break Down of Long Term Investments

The following table sets forth a breakdown of the categories of long-term investments held by the Company as of the dates indicated:


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Equity investments at fair value with readily determinable fair value		11,334		12,978		1,989
Available-for-sale debt investment		3,970		2,607		400
Equity investments without readily determinable fair value		24,686		24,603		3,770
Equity method investments		27,105		24,067		3,688
Investments accounted for at fair value		1,819		2,238		343
Long-term held-to-maturity investments		496		9,740		1,493

Total long-term investments		69,410		76,233		11,683

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,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Current assets		86,713		96,713		14,822
Non-current assets		18,980		15,094		2,313
Current liabilities		65,450		73,842		11,317
Non-current liabilities		8,677		5,545		850
Noncontrolling interests		1,498		1,577		242


	For the twelve months ended September 30, (i)
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions)
Total revenues		4,633			12,598			13,981			2,143
Gross profit		916			6,247			5,083			779
Loss from operations		(418	)		(680	)		(1,282	)		(196	)
Net loss		(372	)		(638	)		(832	)		(128	)
Net loss attributable to the investees		(352	)		(933	)		(891	)		(137	)

(i)	The Company adopted a one-quarter lag in reporting its share of losses in all of its equity 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 without readily determinable fair value held as of December 31, 2019 and 2020 were as follows:


	As of December 31, 2019			As of December 31, 2020			As of December 31, 2020
	RMB			RMB			US$
	(In millions)
Initial cost basis		21,211			19,725			3,023
Cumulative unrealized gains		5,636			8,113			1,243
Cumulative unrealized losses (including impairment)		(2,161	)		(3,235	)		(496	)

Total carrying value		24,686			24,603			3,770

Licensed Copyrights, Net (Tables)

12 Months Ended

Dec. 31, 2020

Licensed Copyrights [Abstract]

Summary of Licensed Copyrights


	As of December 31, 2019
	Gross carrying value		Accumulated amortization			Impairment amount			Net carrying value
	RMB		RMB			RMB			RMB
	(In millions)
Licensed copyrights
—Broadcasting rights		32,038		(24,501	)		(25	)		7,512
—Sublicensing rights		4,633		(4,633	)		—			—

		36,671		(29,134	)		(25	)		7,512

Less: current portion:
—Broadcasting rights		11,751		(10,501	)		(25	)		1,225
—Sublicensing rights		4,633		(4,633	)		—			—

		16,384		(15,134	)		(25	)		1,225

Licensed copyrights—non-current
—Broadcasting rights		20,287		(14,000	)		—			6,287
—Sublicensing rights		—		—			—			—

		20,287		(14,000	)		—			6,287


	As of December 31, 2020
	Gross carrying value		Accumulated amortization			Impairment amount			Net carrying value
	RMB		RMB			RMB			RMB		US$
	(In millions)
Licensed copyrights
—Broadcasting rights		37,511		(29,688	)		(353	)		7,470		1,145
—Sublicensing rights		5,963		(5,963	)		—			—		—

		43,474		(35,651	)		(353	)		7,470		1,145

Less: current portion:
—Broadcasting rights		8,661		(7,592	)		(34	)		1,035		159
—Sublicensing rights		5,963		(5,963	)		—			—		—

		14,624		(13,555	)		(34	)		1,035		159

Licensed copyrights—non-current
—Broadcasting rights		28,850		(22,096	)		(319	)		6,435		986
—Sublicensing rights		—		—			—			—		—

		28,850		(22,096	)		(319	)		6,435		986

Summary of Estimated Future Amortisation Expenses For Licensed Copyrights

Estimated amortization expense relating to the existing licensed copyrights for each of the next three years is as follow:


	RMB		US$
	(In millions)
Within 1 year		3,681		564
Between 1 and 2 years		1,351		207
Between 2 and 3 years		804		123

Produced Content, Net (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Produced Content Net [Abstract]

Components of Produced Content, Net


	As of December 31,
	2019
	RMB
	(In millions)
Released, less amortization		892
In production		3,075
In development		388

		4,355


	As of December 31,
	2020		2020
	RMB		US$
	(In millions)
Released, less amortization and impairment
—Predominantly monetized with other content assets		1,857		285
—Predominantly monetized on its own		78		12

		1,935		297
In production, less impairment
—Predominantly monetized with other content assets		3,742		573
— Predominantly monetized on its own		82		13

		3,824		586
In development, less impairment
—Predominantly monetized with other content assets		666		102
—Predominantly monetize d on its own		131		20

		797		122
Total		6,556		1,005

Summary of estimated amortization expense relating to the existing produced content

Estimated amortization expense relating to the existing produced content for each of the next three years is as follows:


	RMB		US$
	(In millions)
Due in 1 year		827		127
Between 1 and 2 years		296		45
Between 2 and 3 years		197		30

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Schedule of Accounts Receivable


	As of December 31,
	2019			2020			2020
	RMB			RMB			US$
	(In millions)
Accounts receivable		8,344			9,988			1,530
Allowance for credit losses		(928	)		(1,320	)		(202	)

		7,416			8,668			1,328

Movements in Allowance for Credit Losses

The movements in the allowance for credit losses were as follows:


	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions)
Balance as of January 1		316			599			928			142
Adoption of ASU 2016-13		—			—			119			18
Amounts charged to expenses		299			331			455			70
Amounts written off		(16	)		(2	)		(182	)		(28	)

Balance as of December 31		599			928			1,320			202

Other Assets (Tables)

12 Months Ended

Dec. 31, 2020

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

Other Assets


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Prepaid expenses		955		1,109		170
Advances to suppliers		964		1,053		161
Receivables from online payment agencies		585		440		67
Deposits		787		437		67
Prepaid licensed copyrights		1,225		1,035		159
Contract assets, net (i)		1,876		1,755		269
VAT prepayments		1,605		1,768		271
Income tax prepayments		499		130		20
Others		693		3,279		503

Total other current assets		9,189		11,006		1,687
Long-term prepaid expenses		4,176		3,084		473
Others		276		364		54

Total other non-current assets		4,452		3,448		527

Fixed Assets (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Fixed Assets


	As of December 31,
	2019			2020			2020
	RMB			RMB			US$
	(In millions)
Computer equipment		29,592			33,150			5,080
Office building		4,628			4,697			720
Office building related facility, machinery and equipment		2,317			2,442			374
Vehicles		203			204			31
Office equipment		944			971			149
Leasehold improvements		391			386			59
Construction in progress		313			454			70

		38,388			42,304			6,483
Accumulated depreciation and impairment		(20,077	)		(24,796	)		(3,800	)

		18,311			17,508			2,683

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

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 2019 to 2020 was as follows:


	Baidu Core			iQIYI		Total
	RMB			RMB		RMB
	(In millions)
Balance at December 31, 2018		14,648			3,888		18,536

Goodwill acquired (Note 3)		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
Goodwill acquired (Note 3)		3,998			—		3,998

Balance at December 31, 2020		18,360			3,888		22,248

Balance at December 31, 2020, in US$		2,814			596		3,410

(i)

Disposition during the year ended December 31, 2019 was primarily related to the

deconsolidation

of a subsidiary (Note 4).

Intangible Assets


	As of December 31, 2019
	Gross carrying value		Accumulated impairment			Accumulated amortization			Net carrying value
	RMB		RMB			RMB			RMB
	(In millions)
Trademarks		658		(2	)		(182	)		474
Technology		456		(52	)		(188	)		216
Intellectual property right		1548		(355	)		(594	)		599
Online literature		163		—			(40	)		123
Others		805		(19	)		(598	)		188

		3,630		(428	)		(1,602	)		1,600


	As of December 31, 2020
	Gross carrying value		Accumulated impairment			Accumulated amortization			Net carrying value		Net carrying value
	RMB		RMB			RMB			RMB		US$
	(In millions)
Trademarks		1,054		(238	)		(205	)		611		94
Technology		1,087		(52	)		(307	)		728		112
Intellectual property right		1,599		(467	)		(757	)		375		57
Online literature		151		—			(54	)		97		15
Others		899		(19	)		(669	)		211		32

		4,790		(776	)		(1,992	)		2,022		310

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 follow:


	RMB		US$
	(In millions)
For the years ending December 31,
2021		505		77
2022		448		69
2023		375		57
2024		337		52
2025		235		36

Accounts Payable and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

Accounts Payable and Accrued Liabilities


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Accrued other operating expenses		8,925		8,301		1,272
Content acquisition costs		7,267		6,734		1,032
Tax payable		3,115		3,779		579
Accrued payroll and welfare		2,407		3,508		538
Payable to noncontrolling interest shareholders		240		3,466		531
Traffic acquisition costs		2,772		2,467		378
Bandwidth costs		2,492		1,985		304
Accruals for purchases of fixed assets		1,220		1,270		195
Funds collected on behalf of service providers		498		523		80
Interest payable		310		487		75
Payable to merchants		310		307		47
Users’ and third party agents’ deposits		641		268		41
Others		2,504		3,621		555

		32,701		36,716		5,627

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Summary of Company Issued and Publicly Sold Unsecured Senior Notes

The Company issued and publicly sold unsecured senior notes, and the details of the tranches are shown below:


	Issue date	Principal amount (US$ million)		Mature date	Effective interest rate

2022 Ten-year Notes	November 28, 2012		750	November 28, 2022		3.59	%
2019 Notes	June 9, 2014		1,000	June 9, 2019		3.00	% *
2020 Notes	June 30, 2015		750	June 30, 2020		3.13	% *
2025 Ten-year 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		600	May 14, 2024		4.51	%
2024 Notes	December 10, 2018		250	May 14, 2024		4.54	%
2028 November Notes	November 14, 2018		400	November 14, 2028		4.99	%
2025 Five-year Notes	April 7, 2020		600	April 7, 2025		3.22	%
2030 April Notes	April 7, 2020		400	April 7, 2030		3.54	%
2026 Notes	October 9, 2020		650	April 9, 2026		1.81	%
2030 October Notes	October 9, 2020		300	October 9, 2030		2.43	%

*	The 2019 Notes and 2020 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, 2019 and 2020 were as follows:


	As of December 31,
	2019			2020			2020
	RMB			RMB			US$
	(In millions)
Principal amount		43,519			48,638			7,454
Unamortized discount and debt issuance costs		(210	)		(230	)		(35	)

		43,309			48,408			7,419

Long Term Loans Principal Repayments


	RMB		US$
	(In millions)
For the years ending December 31,
2021		7,465		1,144
2022		10,766		1,650
2023		6,525		1,000
2024		5,546		850
2025		7,178		1,100
Thereafter		18,596		2,850

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.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Summary of Carying Amount of the Convertible Notes

Convertible Notes (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

The carrying amount of the Convertible Notes as of December 31, 2019 and 2020 were as follows:


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Liability component:
Principal		13,578		17,954		2,751
Less: unamortized debt discount		1,281		1,275		195
Net carrying amount		12,297		16,679		2,556
Equity component:
Carrying amount		1,349		1,744		267

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Operating lease expense and supplemental cash flow information related to operating leases

Supplemental cash flow information related to operating leases was as follows:


	For the years ended December 31,
	2019		2020
	RMB		RMB		US$
	(In millions)
Cash payments for operating leases		2,631		5,187		795
ROU assets obtained in exchange for operating lease liabilities		3,896		2,841		435

Schedule of future lease payments under operating leases

Future lease payments under operating leases as of December 31, 2020 were as follows:


	Operating leases
	RMB		US$
	(In millions)
Year ending December 31,
2021		2,430		372
2022		1,856		284
2023		1,433		220
2024		1,032		158
2025		464		71
Thereafter		624		96

Total future lease payments		7,839		1,201
Less: Imputed interest		780		118

Total lease liability balance		7,059		1,083

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income (Loss) Before Income Taxes

Income (loss) before income taxes consists of:


	For the years ended December 31,
	2018		2019			2020		2020
	RMB		RMB			RMB		US$
	(In millions)
PRC		23,524		13,076			19,711		3,021
Non-PRC		3,801		(13,416	)		3,379		518

		27,325		(340	)		23,090		3,539

Components of Income Tax

Income taxes consist of:


	For the years ended December 31,
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions)
Current income tax		6,184			3,564			4,668			716
Income tax refund due to reduced tax rate		(680	)		(920	)		(719	)		(110	)
Adjustments of deferred tax assets due to change in tax rates		—			9			(5	)		(1	)
Deferred income tax (benefit) expense		(761	)		(705	)		120			18

		4,743			1,948			4,064			623

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,
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions, except for per share data)
Expected taxation at PRC statutory tax rate		6,831			(85	)		5,773			885
Effect of differing tax rates in different jurisdictions		493			3,299			208			32
Non-taxable income		(1,555	)		(419	)		(995	)		(152	)
Non-deductible expenses		935			2,124			3,416			523
Research and development super-deduction		(1,047	)		(1,245	)		(1,549	)		(237	)
Effect of PRC preferential tax rates and tax holiday		(2,250	)		(1,327	)		(2,891	)		(443	)
Effect of tax rate changes on deferred taxes		—			9			(5	)		(1	)
Reversal of prior year’s EIT		(616	)		(1,134	)		(951	)		(146	)
PRC withholding tax		553			(224	)		122			19
Addition to valuation allowance		1,399			950			936			143

Taxation for the year		4,743			1,948			4,064			623

Effective tax rate		17%			(573%	)		18	%		18	%

Effect of preferential tax rates inside the PRC on basic earnings per Class A and Class B ordinary share ( Note )		0.81			0.49			1.06			0.16

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, 2019 and 2020 are as follows:


	As of December 31,
	2019			2020			2020
	RMB			RMB			US$
	(In millions)
Deferred tax assets:
Allowance for credit loss		332			452			69
Accrued expenses, payroll and others		4,820			5,456			836
Fixed assets depreciation		151			106			16
Net operating loss carry-forward		1,733			1,811			278
Less: valuation allowance		(4,843	)		(5,895	)		(903	)

Deferred tax assets, net		2,193			1,930			296


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Deferred tax liabilities:
Long-lived assets arising from acquisitions		275		406		62
Withholding tax on PRC subsidiaries’ undistributed earnings		1,621		1,381		212
Tax on capital gains		1,159		943		145
Others		218		593		90

		3,273		3,323		509

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020:


	RMB		US$
	(In millions)
2021		742		114
2022		323		50
2023		135		21
2024		81		12
2025		45		7
Thereafter		47		7

		1,373		211

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, 2020:


	RMB		US$
	(In millions)
2021		10,480		1,606
2022		6,239		956
2023		3,421		524
2024		1,286		197
2025		345		53
Thereafter		—		—

		21,771		3,336

Redeemable Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2020

Temporary Equity Disclosure [Abstract]

Summary of Redeemable Noncontrolling Interest


	2018			2019		2020		2020
	RMB			RMB		RMB		US$
	(In millions)
Balance as of January 1		11,022			716		1,109		170
Business combinations (Note 3)		698			182		—		—
Issuance of subsidiary shares		—			100		1,866		286
Accretion of redeemable noncontrolling interests		146			111		127		19
Conversion of iQIYI preferred shares recognized as redeemable noncontrolling interests to ordinary shares		(11,150	)		—		—		—

Balance as of December 31		716			1,109		3,102		475

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Equity Abstract

Retained Earning


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
PRC statutory reserve funds		626		806		123
Unreserved retained earnings		125,642		134,478		20,610

Total retained earnings		126,268		135,284		20,733

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, 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 before reclassification		207			1,981			2,188
Amounts reclassified from accumulated other comprehensive income		(989	)		(2,689	)		(3,678	)

Net current-period other comprehensive loss		(782	)		(708	)		(1,490	)
Other comprehensive income attribute to noncontrolling interests and redeemable noncontrolling interests		(102	)		(1	)		(103	)

Balance at December 31, 2019		(2,584	)		1,201			(1,383	)

Other comprehensive income before reclassification		1,936			380			2,316
Amounts reclassified from accumulated other comprehensive income		—			(541	)		(541	)

Net current-period other comprehensive income (loss)		1,936			(161	)		1,775
Other comprehensive income attribute to noncontrolling interests and redeemable noncontrolling interests		(192	)		(1	)		(193	)

Balance at December 31, 2020		(840	)		1,039			199

Balance at December 31, 2020, in US$		(129	)		159			30

*	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 ASU 2016-13 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, 2018, 2019 and 2020:


	For the years ended December 31,
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions)
Unrealized gains on available-for-sale investments
Other comprehensive income before reclassification		(409	)		(280	)		(59	)		(9	)
Amounts reclassified from accumulated other comprehensive income		328			402			83			13

Net current-period other comprehensive income (loss)		(81	)		122			24			4

Earnings Per Share ("EPS") (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Reconciliation of Net Income to Numerator for Computation of Basic and Diluted Per Share


	For the years ended December 31,
	2018			2019			2020			2020
	RMB			RMB			RMB			US$
	(In millions, including number of shares and ADS, except for per share and per ADS data)
Net income attributable to Baidu, Inc.		27,573			2,057			22,472			3,444
Accretion of the redeemable noncontrolling interests		(130	)		(77	)		(88	)		(13	)

Numerator for basic EPS computation		27,443			1,980			22,384			3,431
Impact of subsidiaries’ and investees’ diluted earnings per share		—			(28	)		—			—

Numerator for diluted EPS computation		27,443			1,952			22,384			3,431

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 and basic and diluted earnings per ADS:


	For the years ended December 31,
	2018				2019				2020				2020
	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, including number of shares and ADS, except for per share and per ADS data)
Earnings per share—basic:
Numerator
Allocation of net income attributable to Baidu, Inc.		21,780		5,663		1,571		409		17,683		2,710		4,701		721

Denominator
Weighted average ordinary shares outstanding (Note)		2,216		576		2,211		576		2,158		2,158		574		574

Denominator used for basic EPS (Note)		2,216		576		2,211		576		2,158		2,158		574		574

Earnings per share—basic (Note)		9.83		9.83		0.71		0.71		8.19		1.26		8.19		1.26


Earnings per share—diluted:
Numerator
Allocation of net income attributable to Baidu, Inc. for diluted computation		21,824		5,619		1,549		403		17,723		2,716		4,661		715
Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares		5,619		—		403		—		4,661		715		—		—

Numerator for diluted EPS calculation		27,443		5,619		1,952		403		22,384		3,431		4,661		715

Denominator
Weighted average ordinary shares outstanding (Note)		2,216		576		2,211		576		2,158		2,158		574		574
Conversion of Class B to Class A ordinary shares (Note)		576		—		576		—		574		574		—		—
Share-based awards (Note)		22		—		4		—		24		24		—		—

Denominator used for diluted EPS (Note)		2,814		576		2,791		576		2,756		2,756		574		574

Earnings per share—diluted (Note)		9.75		9.75		0.70		0.70		8.12		1.24		8.12		1.24


Earnings per ADS (1 ADS equals 8 Class A ordinary shares):
Denominator used for earnings per ADS—basic (Note)		277				276				270		270

Denominator used for earnings per ADS—diluted (Note)		352				349				344		344

Earnings per ADS—basic (Note)		78.64				5.68				65.54		10.04

Earnings per ADS—diluted (Note)		78.03				5.60				64.98		9.96

Note:

Share-Based Awards Plan (Tables)

12 Months Ended

Dec. 31, 2020

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,
	2018		2019		2020		2020
	RMB		RMB		RMB		US$
	(In millions)
Expensed as cost of revenues		224		327		360		55
Expensed as selling, general and administrative		1,725		1,768		1,897		290
Expensed as research and development		2,727		3,531		4,471		686

		4,676		5,626		6,728		1,031

Baidu

Option Activity

The following table summarizes the option activity for the years ended December 31, 2020:


	Number of share options (Note)			Weighted average exercise price (US$) (Note)		Weighted average remaining contractual life (Years)		Aggregate intrinsic value (US$ in millions)
Incentive share options
Outstanding, December 31, 2019		29,854,480			17		8		72
Granted		1,028,240			11
Exercised		(3,516,400	)		13
Forfeited/Cancelled		(3,147,280	)		17

Outstanding, December 31, 2020		24,219,040			17		7		245

Vested and expected to vest at December 31, 2020		19,756,080			18		7		186

Exercisable at December 31, 2020		12,098,400			21		5		78

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
	2018			2019			2020
Risk-free interest rate		2.57	%		1.58%~2.49	%		1.51~1.52	%
Dividend yield		—			—			—
Expected volatility range		34.47%~35.36	%		34.62%~35.14	%		34.83%~34.92	%
Expected life (in years)		4.89~6.25			5.83~6.03			5.90~6.01

Restricted Shares Activity

Restricted Shares activity for the year ended December 31, 2020 was as follow:


	Number of shares (Note)			Weighted average grant date fair value (US$) (Note)
Restricted Shares
Unvested, December 31, 2019		113,604,320			19
Granted		73,900,080			14
Vested		(35,078,640	)		20
Forfeited/Cancelled		(21,924,240	)		17

Unvested, December 31, 2020		130,501,520			16

iQIYI

Option Activity

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


	Number of share options			Weighted average exercise price ( US$ )		Weighted average remaining contractual life (Years)		Aggregate intrinsic value ( US$ in millions)
Outstanding, December 31, 2019		406,912,618			0.48		7		1,031
Granted		88,611,584			0.51
Forfeited		(12,111,374	)		0.51
Exercised		(62,714,554	)		0.44

Outstanding, December 31, 2020		420,698,274			0.49		7		846

Vested and expected to vest at December 31, 2020		401,055,919			0.48		7		807

Exercisable at December 31, 2020		245,054,484			0.47		7		498

Total Share-Based Compensation Cost Recognized

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


	For the years ended December 31,
	2018		2019		2020		2020
	RMB		RMB		RMB		US$
	(In millions)
Expensed as cost of revenues		83		171		202		31
Expensed as selling, general and administrative		369		676		851		130
Expensed as research and development		104		238		317		49

		556		1,085		1,370		210

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Revenue received from major related parties

The following table summarizes the revenue received from major related parties in fiscal year 2018, 2019 and 2020.


	For the years ended December 31,
	2018		2019		2020		2020
	RMB		RMB		RMB		US$
Revenues:
Trip		774		627		204		31
Du Xiaoman		256		731		678		104
Investee C (i)		143		280		949		145
Others		421		1,394		1,015		156

Total		1,594		3,032		2,846		436

(i)	Investee C is one of the Company’ investees, over which the Company has significant influence.

Amounts due from/due to related parties


	As of December 31,
	2019		2020		2020
	RMB		RMB		US$
	(In millions)
Amounts due from related parties, current:
Trip (i)		96		22		3
Du Xiaoman (ii)		737		306		47
Investee A (iii)		345		—		—
Investee C (iv)		115		212		32
Other related parties (v)		301		186		29

Total		1,594		726		111

Amounts due from related parties, non-current:
Du Xiaoman (ii)		3,391		3,398		521
Other related parties (vi)		173		40		6

Total		3,564		3,438		527

Amounts due to related parties, current:
Trip (vii)		49		50		8
Du Xiaoman (viii)		973		489		75
Investee A (ix)		476		—		—
Investee B (x)		249		175		27
Other related parties (xi)		484		610		93

Total		2,231		1,324		203

Amounts due to related parties, non-current:
Du Xiaoman (xii)		3,430		3,216		493
Investee B (x)		410		325		50
Other related parties (xiii)		6		2		—

Total		3,846		3,543		543

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

(ii)	The balances represent non-trade long-term loans due from Du Xiaoman with interest rates ranging from 0.00% to 0.50% in 2020, and amounts arising from services the Company provided to Du Xiaoman.

(iii)

(iv)	The balances mainly represent amounts arising from services including online marketing services and cloud services the Company provided to Investee C.

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

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

(vii)

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

(viii)

(ix)

The balances mainly represent amounts arising from hardware products purchased from Investee A, and a

non-trade

(x)	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 investee.

(xi)	The balances mainly represent amounts arising from services including advertising services and licensing of content assets provided by the Company’s investees and non-trade amounts payable for acquiring the equity interest of the Company’s investees.

(xii)

The balances mainly represent non-trade interest-free long-term loans provided by Du Xiaoman.

(xiii)

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

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Line Items]

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, 2018.


	For the year ended December 31, 2018
	Baidu Core			iQIYI			Intersegment eliminations & adjustments			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			RMB			RMB			RMB
	(In millions)
Total revenues		79,711			28,994			(1,292	)		107,413

Operating costs and expenses:
Cost of revenues		34,019			30,348			(1,517	)		62,850
Selling, general and administrative		14,733			5,237			(60	)		19,910
Research and development		15,698			2,667			(19	)		18,346

Total operating costs and expenses		64,450			38,252			(1,596	)		101,106

Operating profit (loss)		15,261			(9,258	)		304			6,307

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

Income (loss) before income taxes		9,581			(10,225	)		304			(340	)

Income taxes		1,896			52			—			1,948

Net income (loss)		7,685			(10,277	)		304			(2,288	)

Less: net income (loss) attributable to noncontrolling interests		105			46			(4,496	)		(4,345	)

Net income (loss) attributable to Baidu, Inc.		7,580			(10,323	)		4,800			2,057

The table below provides a summary of the Group’s operating segment operating results for the year ended December 31, 2020.


	For the year ended December 31, 2020
	Baidu Core						iQIYI						Intersegment eliminations						Consolidated
	RMB			US$			RMB			US$			RMB			US$			RMB			US$
	(In millions)
Total revenues		78,684			12,059			29,707			4,553			(1,317	)		(202	)		107,074			16,410

Operating costs and expenses:
Cost of revenues		28,368			4,348			27,884			4,273			(1,094	)		(167	)		55,158			8,454
Selling, general and administrative		12,931			1,982			5,188			795			(56	)		(8	)		18,063			2,769
Research and development		16,847			2,581			2,676			410			(10	)		(2	)		19,513			2,989
Total operating costs and expenses		58,146			8,911			35,748			5,478			(1,160	)		(177	)		92,734			14,212

Operating profit (loss)		20,538			3,148			(6,041	)		(925	)		(157	)		(25	)		14,340			2,198

Total other income (loss), net		9,693			1,486			(943	)		(145	)		—			—			8,750			1,341

Income (loss) before income taxes		30,231			4,634			(6,984	)		(1,070	)		(157	)		(25	)		23,090			3,539

Income taxes		4,041			619			23			4			—			—			4,064			623

Net income (loss)		26,190			4,015			(7,007	)		(1,074	)		(157	)		(25	)		19,026			2,916


Less: net income (loss) attributable to noncontrolling interests		(334	)		(50	)		31			5			(3,143	)		(483	)		(3,446	)		(528	)

Net income (loss) attributable to Baidu, Inc.		26,524			4,065			(7,038	)		(1,079	)		2,986			458			22,472			3,444

Operating Segments [Member]

Segment Reporting [Line Items]

Summary of Revenues Disaggregated by Segment And By Types of Products or Services

The following table presents the Company’s revenues disaggregated by segment and by types of products or services:


	For the years ended
	December 31, 2018			December 31, 2019			December 31, 2020			December 31, 2020
	RMB			RMB			RMB			US$
	(In millions)
Online marketing services		72,645			70,038			66,283			10,158
Cloud services ( N ote 1)		3,005			6,370			9,173			1,406
Interest income earned from provision of financial services		1,724			—			—			—
Others ( N ote 1)		897			3,303			3,228			495

Baidu Core Subtotal		78,271			79,711			78,684			12,059

Membership services ( N ote 1)		10,623			14,436			16,491			2,527
Online advertising services ( Note 2 )		9,329			8,271			6,822			1,046
Content distribution ( N ote 1)		2,163			2,544			2,660			408
Others ( N ote 1)		2,874			3,743			3,734			572

iQIYI Subtotal		24,989			28,994			29,707			4,553
Intersegment eliminations		(983	)		(1,292	)		(1,317	)		(202	)

Total revenue		102,277			107,413			107,074			16,410

Note 1: The revenues were presented as “Others” in the consolidated statements of comprehensive income (loss)

Note 2: The revenues were presented as “Online marketing revenue” in the consolidated statements of comprehensive income (loss)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Fair Value Disclosure and Measurement on Recurring Basis


			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		RMB		RMB		RMB
	(In millions)
Fair value disclosure

Cash equivalents:
Time deposits		10,848				10,848
Money market funds		1,719		1,719

Short-term investments:
Held-to-maturity debt investments		107,654				107,654

Long-term investments:
Held-to-maturity debt investment		491				491

Long-term notes payable		45,282				45,282

Convertible senior notes		14,142				14,142

Fair value measurements on a recurring basis

Short-term investments:
Available-for-sale debt investments		5,637				5,637

Long-term investments:
Equity investments at fair value with readily determinable fair value		11,334		11,334
Investments accounted for at fair value		1,819						1,819
Available-for-sale debt investments		3,970						3,970

Other non-current assets:
Derivative instruments		24				24

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

Accounts payable and accrued liabilities:
Derivative instruments		125						125

Amounts due to related parties, non-current:
Financial liability		401				401

Total liabilities measured at fair value		526				401		125


			Fair value measurement or disclosure at December 31, 2020 using
	Total fair value at December 31, 2020				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		16,133		2,472				16,133
Money market funds		198		30		198

Short-term investments:
Held-to-maturity debt investments		124,132		19,024				124,132

Convertible senior notes, current portion		4,967		761				4,967

Long-term investments:
Held-to-maturity debt investment		9,754		1,495				9,754

Long-term notes payable		52,575		8,057				52,575

Convertible senior notes, non-current portion		12,078		1,851				12,078

Fair value measurements on a recurring basis

Short-term investments:
Available-for-sale debt investments		2,865		439				2,865

Long-term investments:
Equity investments at fair value with readily determinable fair value		12,978		1,989		12,978
Investments accounted for at fair value		2,238		343						2,238
Available-for-sale debt investments		2,607		400						2,607

Total assets measured at fair value		20,688		3,171		12,978		2,865		4,845

Accounts payable and accrued liabilities:
Derivative instruments		40		6				40

Amounts due to related parties, current:
Financial liability		327		50				327

Total liabilities measured at fair value		367		56		—		367

Schedule of rolling forward of Investments accounted for at fair value categorized within Level 3 under the fair value hierarchy

Investments accounted for at fair value:


	Amounts
	RMB
	(In millions)
Balance at December 31, 2018		1,457
Additions		282
Disposals		(128	)
Net unrealized fair value increase recognized in earnings		197
Foreign currency translation adjustments		11

Balance at December 31, 2019		1,819
Additions		371
Disposals		(63	)
Net unrealized fair value increase recognized in earnings		151
Foreign currency translation adjustments		(40	)

Balance at December 31, 2020		2,238

Balance at December 31, 2020, in US$		343

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, 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
Additions		5
Disposals		(500	)
Reclassification		412
Conversion to equity investment		(1,355	)
Share of losses in excess of equity method investment in ordinary shares		(82	)
Net unrealized fair value increase recognized in other comprehensive income		153
Accrued interest		68
Foreign currency translation adjustments		(64	)

Balance at December 31, 2020		2,607

Balance at December 31, 2020, in US$		400

Summary of Assets Measured at Fair Value on a Non-Recurring Basis

The following table summarizes the Company’s financial assets held as of December 31, 2019 and 2020 for which a

non-recurring

fair value measurement was recorded during the years

ended December 31, 2019 and 2020:


	Total Balance				Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant 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, 2019
Long-term investments		22,778				14,105		358		8,315		(230	)				(9,989	)
Intangible assets		76				—		—		76							(406	)

As of December 31, 2020
Long-term investments (i)		14,205		2,177		367		—		13,838		3,725			571		(1,862	)		(285	)
Intangible assets (i)		62		10		—		—		62							(350	)		(54	)
Mainland China film group—Licensed copyrights as of March 31, 2020 (ii)		7,186		1,101		—		—		7,186							(390	)		(60	)
Mainland China film group—Produced contents as of March 31, 2020 (ii)		4,124		632		—		—		4,124							(210	)		(32	)
Produced content monetized on its own (iii)		40		6		—		—		40							(205	)		(31	)

(i)

(ii)

The outbreak of

COVID-19

(iii)

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.

Equity Securities, FV-NI and without Readily Determinable Fair Value [Abstract]

Organization and Basis of Presentation - Additional Information (Detail) $ / shares in Units, ¥ in Billions	12 Months Ended
	Dec. 31, 2020 CNY (¥) shares	Mar. 01, 2021 $ / shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 $ / shares shares
Organization [Line Items]
Preferred Stock , par value per share \| $ / shares		$ 0.000000625	$ 0.000000625	$ 0.000000625
Total authorized share capital \| $			$ 43,520
Common stock, shares authorized	69,632,000,000		69,632,000,000
Stock holders equity note stock split	each ADS now represents eight Class A ordinary shares
Previously Reported
Organization [Line Items]
Common stock, shares authorized	870,400,000		870,400,000
Class A Ordinary Shares
Organization [Line Items]
Common stock, par value per share \| $ / shares			$ 0.000000625	$ 0.000000625
Common stock, shares authorized	66,000,000,000		66,000,000,000	66,000,000,000
Class A Ordinary Shares \| Previously Reported
Organization [Line Items]
Common stock, par value per share \| $ / shares			$ 0.00005
Common stock, shares authorized	825,000,000		825,000,000
Class B Ordinary Shares
Organization [Line Items]
Common stock, par value per share \| $ / shares			$ 0.000000625	$ 0.000000625
Common stock, shares authorized	2,832,000,000		2,832,000,000	2,832,000,000
Class B Ordinary Shares \| Previously Reported
Organization [Line Items]
Common stock, par value per share \| $ / shares			$ 0.00005
Common stock, shares authorized	35,400,000		35,400,000
Preferred Stock
Organization [Line Items]
Preferred stock, shares authorized	800,000,000		800,000,000
Preferred Stock \| Previously Reported
Organization [Line Items]
Preferred Stock , par value per share \| $ / shares			$ 0.00005
Preferred stock, shares authorized	10,000,000		10,000,000
Variable Interest Entity, Primary Beneficiary [Member]
Organization [Line Items]
Net assets of VIEs	¥ 22.3		$ 3,400,000,000
Beijing Perusal
Organization [Line Items]
Interest-free loans provided by a subsidiary of the entity to the shareholders of its variable interest entities	¥ 3.2		490,000,000
Equity pledge agreement expiration period	2 years
Other Vie
Organization [Line Items]
Equity pledge agreement expiration period	2 years
Baidu Netcom
Organization [Line Items]
Interest-free loans provided by a subsidiary of the entity to the shareholders of its variable interest entities	¥ 13.4		$ 2,100,000,000
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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($)
Variable Interest Entity [Line Items]
Cash and cash equivalents	¥ 35,782		¥ 33,443		$ 5,484
Short-term investments, net	126,402		112,924		19,372
Accounts receivable, net	8,668		7,416		1,328
Total current assets	183,342		165,562		28,099
Fixed assets, net	17,508		18,311		2,683
Intangible assets, net	2,022		1,600		310
Licensed copyrights, net	6,435		6,287		986
Produced content, net	6,556		4,355		1,005
Long-term investments, net	76,233		69,410		11,683
Operating lease right-of-use assets	9,804		7,332		1,503
Total non-current assets	149,366		135,754		22,891
Total	332,708		301,316		50,990
Accounts payable and accrued liabilities	36,716		32,701		5,627
Customer deposits and deferred revenue	12,626		11,062		1,935
Operating lease liabilities	2,366		2,283		364
Total current third-party liabilities	68,385		57,380		10,481
Operating lease liabilities	4,693		4,486		719
Total non-current third-party liabilities	72,480		71,121		11,108
Total revenues	107,074	$ 16,410	107,413	¥ 102,277
Net (loss) income	19,026	2,916	(2,288)	22,582
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Cash and cash equivalents	2,348		2,313		360
Short-term investments, net	6,930		1,892		1,062
Accounts receivable, net	6,614		5,023		1,014
Others	8,097		5,750		1,241
Total current assets	23,989		14,978		3,677
Fixed assets, net	4,978		3,839		763
Intangible assets, net	1,499		1,404		230
Licensed copyrights, net	993		1,641		152
Produced content, net	6,130		4,355		939
Long-term investments, net	20,707		21,825		3,173
Operating lease right-of-use assets	6,460		6,525		990
Others	7,717		7,970		1,183
Total non-current assets	48,484		47,559		7,430
Total	72,473		62,537		11,107
Total current third-party liabilities	25,051		24,692		3,839
Total non-current third-party liabilities	5,519		6,295		846
Total liabilities	50,162		48,108		7,688
Total revenues	52,666	8,071	51,988	33,992
Net (loss) income	2,091	320	(2,950)	(6,834)
Net cash provided by operating activities	4,616	707	1,649	2,396
Net cash used in investing activities	(8,382)	(1,285)	(4,829)	(16,674)
Net cash provided by financing activities	3,859	$ 591	3,604	¥ 11,916
Variable Interest Entity, Primary Beneficiary \| Third-party Liabilities
Variable Interest Entity [Line Items]
Accounts payable and accrued liabilities	15,420		15,774		2,363
Customer deposits and deferred revenue	6,047		4,841		927
Operating lease liabilities	2,068		2,110		317
Others	1,516		1,967		232
Total current third-party liabilities	25,051		24,692		3,839
Operating lease liabilities	4,376		4,227		671
Others	1,143		2,068		175
Total non-current third-party liabilities	5,519		6,295		846
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	¥ 19,592		¥ 17,121		$ 3,003

Summary of Significant Accounting Policies - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥) Unit Segment Customer	Dec. 31, 2020 USD ($) Unit Segment Customer	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($) Customer	Jan. 01, 2020 CNY (¥)	Jan. 01, 2018 CNY (¥)
Accounting Policies [Abstract]
Exchange rate used for conversion of financial statements from RMB to US dollar	6.525				6.525
Number of reportable segments \| Segment	2	2
Number of reporting units \| Unit	2	2
Retained earnings	¥ 135,284		¥ 126,268		$ 20,733
Acquisition of licensed copyrights from nonmonetary content exchanges	1,376	$ 211	683	¥ 1,083
Gross interest income				3,300
Gross interest cost				1,600
Allowance for contract asset	27		7		4
Advertising and promotional expenses	8,400	$ 1,300	10,500	10,100
Cash and cash equivalents, restricted cash and short-term investments	¥ 172,700				$ 26,500
Number of customers with receivable balance exceeding 10% \| Customer	0				0
Number of customer or any Baidu Union partner with revenue greater than 10% \| Customer	0	0
Appreciation of US$ against RMB, as a percentage	6.27%	6.27%
Net income (loss)	¥ 19,026	$ 2,916	(2,288)	22,582
Cumulative effect of accounting change				933
Accounting Standards Update 2016-13
Accounting Policies [Abstract]
Retained earnings						¥ (314)
Accounting Standards Update 2019-02 \| Licensed Copyrights And Produced Content
Accounting Policies [Abstract]
Supplement cash flow disclosure of operating activities	17,000	2,600
Amortization expense	680	104
Online Payment Agencies
Accounting Policies [Abstract]
Allowance for doubtful accounts of online payment agencies	0		0
Change In Accounting Estimate [Member] \| Licensed Copyrights And Produced Content
Accounting Policies [Abstract]
Net income (loss)	680	104
iQIYI Licensed Copyright
Accounting Policies [Abstract]
Acquisition of licensed copyrights from nonmonetary content exchanges	1,400	211	683	1,100
Barter transaction, Cost Recognized	¥ 1,100	$ 161	570	¥ 1,000
Short-term Investments \| Maximum
Accounting Policies [Abstract]
Maturity period used to classify short-term investments	12 months	12 months
Cash and cash equivalents \| Maximum
Accounting Policies [Abstract]
Maturity period used to classify short-term investments	3 months	3 months
Other Current Assets, net
Accounting Policies [Abstract]
Contract assets	¥ 1,800		1,900		$ 273
Allowance for contract asset	27		7		4
Deferred revenue
Accounting Policies [Abstract]
Contract with Customer, Liability, Revenue Recognized	4,000	$ 618
Contract liabilities	¥ 6,700		¥ 6,100		$ 1,000
Credit Concentration Risk \| Sales Revenue, Net \| Maximum
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	90.00%	90.00%
Credit Concentration Risk \| Onshore China \| Financial Institution One [Member]
Accounting Policies [Abstract]
Concentration risk by percentage	30.00%	30.00%
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	16.00%	16.00%
Credit Concentration Risk \| Onshore China \| Financial Institution Four [Member]
Accounting Policies [Abstract]
Concentration risk by percentage	11.00%	11.00%
Credit Concentration Risk \| Offshore China \| Financial Instruments
Accounting Policies [Abstract]
Concentration risk by percentage	10.00%	10.00%
Ordinary Shares \| Accounting Standards Update 2016-01
Accounting Policies [Abstract]
Retained earnings							¥ 1,900
Office building and its related facility
Accounting Policies [Abstract]
Property, plant and equipment, salvage value, percentage	4.00%				4.00%

Estimated Useful Lives of Fixed Assets (Detail)	12 Months Ended
Estimated Useful Lives of Fixed Assets (Detail)	Dec. 31, 2020
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, 2020
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset weighted average economic life	10 years
Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset weighted average economic life	7 years
Intellectual property right
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset weighted average economic life	7 years
Online literature
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset weighted average economic life	8 years
Others
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset weighted average economic life	8 years

Summary of Estimated Fair Values of Assets Acquired, Liabilities Assumed and Noncontrolling Interest (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($)
Business Acquisition [Line Items]
Purchase consideration	¥ 3,500	$ 536	¥ 1,200
Redeemable non-controlling interests (Note 19)	0		(182)	¥ (698)	$ 0
Goodwill	22,248		18,250	18,536	3,410
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Purchase consideration	3,499	536	1,168	2,378
Net assets acquired, excluding intangible assets and the related deferred tax liabilities	1,515		229	1,545	231
Intangible assets, net	1,116		543	1,424	171
Deferred tax liabilities	(229)		(134)	(292)	(35)
Pre-existing equity interests and debt investment	(2,103)	$ (322)
Pre-existing equity interests				(1,651)
Noncontrolling interests	(798)		(266)	(1,312)	(122)
Redeemable non-controlling interests (Note 19)			(182)	(698)
Goodwill	3,998		978	3,362	613
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest	¥ 3,499		¥ 1,168	¥ 2,378	$ 536

Business Combinations - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($)
Business Acquisition [Line Items]
Re-measurement gain relating to pre-existing equity interest	¥ 123	$ 19		¥ 630
Purchase consideration	3,500	$ 536	¥ 1,200
Goodwill	22,248		18,250	¥ 18,536	$ 3,410
Business Combinations 2019
Business Acquisition [Line Items]
Goodwill	¥ 4,000		¥ 978		$ 613

Investments - Short-term Investments - Additional information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Schedule of Investments [Line Items]
Investment interest income	¥ 5,358	$ 822	¥ 6,060	¥ 4,451
Short-term Investments
Schedule of Investments [Line Items]
Investment interest income	¥ 4,700	$ 728	¥ 5,400	¥ 3,900

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 USD ($) shares	Aug. 31, 2018 CNY (¥)	Sep. 30, 2019 CNY (¥)	Dec. 31, 2020 CNY (¥) Directors	Dec. 31, 2020 USD ($) Directors	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2017 CNY (¥)
Schedule of Investments [Line Items]
Impairment charges recognized on equity investments measured at fair value using the measurement alternative				¥ 2,300	$ 354	¥ 455	¥ 778
Impairment recognized for equity method investments				297	46	9,200	167
Carrying amount of equity method investments				24,100		27,100		$ 3,700
Investment interest income				5,358	822	6,060	4,451
Long Term Investments
Schedule of Investments [Line Items]
Carrying amount of equity method investments				24,067		27,105		$ 3,688
Investment interest income				118	$ 18	2	¥ 0
China United Network Communication Limited
Schedule of Investments [Line Items]
Total purchase consideration									¥ 7,000
China United Network Communication Limited \| Other Assets [Member]
Schedule of Investments [Line Items]
Proceeds From sale of equity investments				¥ 2,700
Trip.com International, Ltd
Schedule of Investments [Line Items]
Equity method investment, percentage of ownership				12.00%			19.00%	12.00%
Fair value of equity investment				¥ 15,200				$ 2,300
Gains (losses) on equity method investments						43
Impairment recognized for equity method investments			¥ 8,900
Equity method investment, disposal of ADS \| shares	36
Proceeds From sale of equity investments \| $	$ 988
Adjustments to goodwill acquired			¥ 8,900
Number of directors \| Directors				9	9
Trip.com International, Ltd \| Active directors
Schedule of Investments [Line Items]
Number of directors \| Directors				2	2
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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Short-term Investments
Amortized cost, Gain (loss) and Fair value on Investments [Line Items]
Held-to-maturity debt investments, fair value	¥ 124,132	$ 19,024	¥ 107,654
Available-for-sale debt investments, fair value	2,865	439	5,637
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	123,537		107,287
Held-to-maturity debt investments, gross unrecognized holding gains	595		367
Held-to-maturity debt investments, fair value	124,132	19,024	107,654
Available-for-sale debt investments, cost or amortized cost	2,862		5,440
Available-for-sale debt investments, gross unrealized gains	3		197
Available-for-sale debt investments, fair value	2,865	439	5,637
Long-term investments
Amortized cost, Gain (loss) and Fair value on Investments [Line Items]
Held-to-maturity debt investments, fair value	9,754	1,495	491
Available-for-sale debt investments, fair value	2,607	400	3,970
Equity investments at fair value with readily determinable fair value, fair value	12,978	1,989	11,334
Investments accounted for at fair value, fair value	2,238	343	1,819
Long-term investments \| Corporate Debt Securities
Amortized cost, Gain (loss) and Fair value on Investments [Line Items]
Available-for-sale debt investments, cost or amortized cost	2,804		3,913
Available-for-sale debt investments, gross unrecognized holding gains	0
Available-for-sale debt investments, gross unrecognized holding losses	0
Available-for-sale debt investments, gross unrealized gains	166		138
Available-for-sale debt investments, gross unrealized losses	(363)		(81)
Available-for-sale debt investments, fair value	2,607	400	3,970
Investments accounted for at fair value, cost or amortized cost	1,580		1,309
Investments accounted for at fair value, gross unrecognized holding gains	0
Investments accounted for at fair value, gross unrecognized holding losses	0
Investments accounted for at fair value, gross unrealized Losses	(227)		(87)
Investments accounted for at fair value, gross unrealized gains	885		597
Investments accounted for at fair value, fair value	2,238	343	1,819
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	8,419		11,769
Equity investments at fair value with readily determinable fair value, gross unrecognized holding gains	0
Equity investments at fair value with readily determinable fair value, gross unrecognized holding losses	0
Equity investments at fair value with readily determinable fair value, gross unrealized gains	7,342		2,195
Equity investments at fair value with readily determinable fair value, gross unrealized loss	(2,783)		(2,630)
Equity investments at fair value with readily determinable fair value, fair value	¥ 12,978	$ 1,989	¥ 11,334

Investments - Summary of Break Down of Long Term Investments (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Schedule of Investments [Line Items]
Equity investments without readily determinable fair value	¥ 19,725	$ 3,023	¥ 21,211
Equity method investments	24,100	3,700	27,100
Total long-term investments	76,233	11,683	69,410
Long Term Investments
Schedule of Investments [Line Items]
Equity investments at fair value with readily determinable fair value	12,978	1,989	11,334
Available-for-sale debt investment	2,607	400	3,970
Equity investments without readily determinable fair value	24,603	3,770	24,686
Equity method investments	24,067	3,688	27,105
Investments accounted for at fair value	2,238	343	1,819
Long-term held-to-maturity investments	9,740	1,493	496
Total long-term investments	¥ 76,233	$ 11,683	¥ 69,410

Investments - Summary of Classification of Long Term Held to Maturity Investments (Detail) - Long Term Investments ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Schedule of Held-to-maturity Securities [Line Items]
Cost or Amortized cost	¥ 9,740	$ 1,493	¥ 496
Corporate Debt Securities
Schedule of Held-to-maturity Securities [Line Items]
Cost or Amortized cost	9,740		496
Gross unrecognized holding gains	14
Held-to-maturity debt investments, gross unrecognized holding losses			(5)
Fair value	¥ 9,754	$ 1,495	¥ 491

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, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2020

USD ($)

Initial cost basis

¥ 19,725

¥ 21,211

$ 3,023

Cumulative unrealized gains

8,113

5,636

1,243

Cumulative unrealized losses (including impairment)

(3,235)

(2,161)

(496)

Total carrying value

24,603

24,686

$ 3,770

Gross unrealized gains

4,396

$ 674

1,447

¥ 7,119

Gross unrealized losses (including impairment)

^[1]

(2,679)

(411)

(1,641)

(2,867)

Net unrealized gains (losses) on equity securities held

1,717

263

(194)

4,252

Net realized gains on equity securities sold

266

211

124

Total net gains recognized in other income, net

¥ 1,983

$ 304

¥ 17

¥ 4,376

[1]	Gross unrealized losses (downward adjustments excluding impairment) were RMB2.4 billion, RMB863 million and RMB378 million (US$58 million) for the years ended December 31, 2018, 2019 and 2020, 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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Equity Securities, FV-NI and without Readily Determinable Fair Value [Abstract]
Equity securities gross unrealised loss excluding impairment	¥ 378	$ 58	¥ 863	¥ 2,400

Summarized Financial Information (Detail)
¥ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2020

USD ($)

Schedule of Equity Method Investments [Line Items]

Current assets

¥ 183,342

¥ 165,562

$ 28,099

Non-current assets

149,366

135,754

22,891

Current liabilities

68,385

57,380

10,481

Non-current liabilities

72,480

71,121

11,108

Ctrip.com International, Ltd

6,045

8,107

927

Schedule of Equity Method Investments [Line Items]

Current assets

^[1]

65,782

75,578

^[2]

10,082

Non-current assets

^[1]

132,417

127,505

^[2]

20,294

Current liabilities

^[1]

61,360

74,118

^[2]

9,404

Non-current liabilities

^[1]

36,558

25,134

^[2]

5,603

^[1]

1,566

2,047

^[2]

240

Income (loss) from operations

^[1]

21,704

$ 3,326

34,958

^[2]

¥ 29,944

^[2]

Gross profit

^[1]

16,838

2,581

27,627

^[2]

24,019

^[2]

^[1]

(827)

(127)

4,271

^[2]

3,302

^[2]

Net income (loss) attributable to the investees

^[1]

(2,236)

(343)

3,764

^[2]

2,807

^[2]

^[1]

(2,243)

(344)

3,813

^[2]

2,806

^[2]

Other Equity Method Investees Excluding Ctrip,com

Schedule of Equity Method Investments [Line Items]

Current assets

96,713

86,713

14,822

Non-current assets

15,094

18,980

2,313

Current liabilities

73,842

65,450

11,317

Non-current liabilities

5,545

8,677

850

1,577

1,498

$ 242

Income (loss) from operations

^[3]

13,981

2,143

12,598

4,633

Gross profit

^[3]

5,083

779

6,247

916

^[3]

(1,282)

(196)

(680)

(418)

Net income (loss) attributable to the investees

^[3]

(832)

(128)

(638)

(372)

^[3]

¥ (891)

$ (137)

¥ (933)

¥ (352)

[1]	The Company adopted a one-quarter lag in reporting its share of equity income (loss) 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 was immaterial, and prior period financial information of Trip was not restated.
[3]	The Company adopted a one-quarter lag in reporting its share of losses in all of its equity investees.

Summary Of Estimated Amortized Cost Of Long Term Held-To-Maturity Investments (Detail) - Long Term Investments - Corporate Debt Securities ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Due in 1 year	¥ 0	$ 0	¥ 0
Due in 1 year through 2 years	9,690	1,485	496
Due in 2 years through 3 years	50	8	0
Total	¥ 9,740	$ 1,493	¥ 496

Summary Of Estimated Fair Value Of Available-For-Sale Debt Investments (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Investments, Debt and Equity Securities [Abstract]
Due in 1 year	¥ 0	$ 0	¥ 505
Due in 1 year through 5 years	1,587	244	10
Due in 5 year through 10 years	0	0	1,486
Not due at a single maturity date	1,020	156	1,969
Total	¥ 2,607	$ 400	¥ 3,970

Licensed Copyrights, Net - Disclosure of Licensed Copyrights (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure of Licensed Copyrights [Line Items]
Licensed copyrights, gross carrying value	¥ 43,474		¥ 36,671
Licensed copyrights, accumulated amortisation	(35,651)		(29,134)
Licensed copyrights, accumulated impairment	(353)		(25)
Licensed copyrights, net carrying value	7,470	$ 1,145	7,512
Licensed copyrights, gross carrying value current	14,624		16,384
Licensed copyrights, accumulated amortisation current	(13,555)		(15,134)
Licensed copyrights, accumulated impairment current	(34)		(25)
Licensed copyrights, net carrying value current	1,035	159	1,225
Licensed copyrights, gross carrying value non current	28,850		20,287
Licensed copyrights, accumulated amortisation non current	(22,096)		(14,000)
Licensed copyrights, accumulated impairment non current	(319)
Licensed copyrights, net carrying value non current	6,435	986	6,287
Broadcasting Rights
Disclosure of Licensed Copyrights [Line Items]
Licensed copyrights, gross carrying value	37,511		32,038
Licensed copyrights, accumulated amortisation	(29,688)		(24,501)
Licensed copyrights, accumulated impairment	(353)		(25)
Licensed copyrights, net carrying value	7,470	1,145	7,512
Licensed copyrights, gross carrying value current	8,661		11,751
Licensed copyrights, accumulated amortisation current	(7,592)		(10,501)
Licensed copyrights, accumulated impairment current	(34)		(25)
Licensed copyrights, net carrying value current	1,035	159	1,225
Licensed copyrights, gross carrying value non current	28,850		20,287
Licensed copyrights, accumulated amortisation non current	(22,096)		(14,000)
Licensed copyrights, accumulated impairment non current	(319)
Licensed copyrights, net carrying value non current	6,435	$ 986	6,287
Sublicensing Rights
Disclosure of Licensed Copyrights [Line Items]
Licensed copyrights, gross carrying value	5,963		4,633
Licensed copyrights, accumulated amortisation	(5,963)		(4,633)
Licensed copyrights, gross carrying value current	5,963		4,633
Licensed copyrights, accumulated amortisation current	¥ (5,963)		(4,633)
Licensed copyrights, gross carrying value non current			0
Licensed copyrights, accumulated amortisation non current			¥ 0

Licensed Copyrights, Net - Schedule of Estimated Future Amortisation Expenses For Licensed Copyrights (Detail) - Dec. 31, 2020 ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Licensed Copyrights [Abstract]
Within 1 year	¥ 3,681	$ 564
Between 1 and 2 years	1,351	207
Between 2 and 3 years	¥ 804	$ 123

Licensed Copyrights, Net - Additional information (Detail) - Licensed Copyrights ¥ in Millions, $ in Billions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Disclosure of Licensed Copyrights [Line Items]
Amortisation expenses of licensed copyrights	¥ 11,500	$ 1.8	¥ 12,700	¥ 12,100
Acquisition of licensed copyrights from nonmonetary content exchanges			968	642
Acquisition of licensed copyrights included in current liabilities			¥ 5,500	¥ 6,300

Produced Content, Net - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Produced Content Net
Disclosure Of Produced Content Net [Line Items]
Amortization expenses for Produced Content			¥ 2,977	¥ 2,266
Cost of Revenue
Disclosure Of Produced Content Net [Line Items]
Amortization expense for produced content predominantly monetized with other content assets	¥ 3,024	$ 463
Amortization expense for produced content predominantly monetized on its own	¥ 1,095	$ 168

Produced Content, Net - Produced Content, Net (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure Of Produced Content Net [Abstract]
Released, less amortization	¥ 1,935	$ 297	¥ 892
In production	3,824	586	3,075
In development	797	122	388
Total	¥ 6,556	$ 1,005	¥ 4,355

Produced Content, Net - Summary of Released, less Amortization And Impairment (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure Of Produced Content Net [Line Items]
Released, less amortization and impairment	¥ 1,935	$ 297	¥ 892
In production, less impairment	3,824	586	3,075
In development, less impairment	797	122	388
Total	6,556	1,005	¥ 4,355
Released, less amortization and impairment [Member]
Disclosure Of Produced Content Net [Line Items]
—Predominantly monetized with other content assets	1,857	285
—Predominantly monetized on its own	78	12
In production, less impairment [Member]
Disclosure Of Produced Content Net [Line Items]
—Predominantly monetized with other content assets	3,742	573
—Predominantly monetized on its own	82	13
In development, less impairment [Member]
Disclosure Of Produced Content Net [Line Items]
—Predominantly monetized with other content assets	666	102
— Predominantly monetized on its own	¥ 131	$ 20

Produced Content, Net - Summary of Estimated Future Amortization Expenses For Product Content (Detail) - Dec. 31, 2020 ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Schedule Of Estimated Future Amortization Expenses For Licensed Copyrights [Abstract]
Due in 1 year	¥ 827	$ 127
Between 1 and 2 years	296	45
Between 2 and 3 years	¥ 197	$ 30

Accounts Receivable (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Receivables [Abstract]
Accounts receivable	¥ 9,988	$ 1,530	¥ 8,344
Allowance for credit losses	(1,320)	(202)	(928)	$ (142)	¥ (599)	¥ (316)
Accounts receivable, net	¥ 8,668	$ 1,328	¥ 7,416

Movement in Allowance for credit losses (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Allowance for credit losses
Balance as of January 1	¥ 928	$ 142	¥ 599	¥ 316
Adoption of ASU 2016-13	119	18
Amounts charged to expenses	455	70	331	299
Amounts written off	(182)	(28)	(2)	(16)
Balance as of December 31	¥ 1,320	$ 202	¥ 928	¥ 599

Other Assets (Detail)
¥ in Millions, $ in Millions

Dec. 31, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Prepaid Expense and Other Assets [Abstract]

Prepaid expenses

¥ 1,109

$ 170

¥ 955

Advances to suppliers

1,053

161

964

Receivables from online payment agencies

440

585

Deposits

437

787

Prepaid licensed copyrights

1,035

159

1,225

Contract assets, net

^[1]

1,755

269

1,876

Total other current assets

3,279

503

693

VAT Prepayments

1,768

271

1,605

Income tax prepayments

130

499

11,006

1,687

9,189

Long-term prepaid expenses

3,084

473

4,176

Total other non-current assets

364

276

¥ 3,448

$ 527

¥ 4,452

[1]

The allowance for credit losses on contract assets was RMB7 million and RMB27 million (US$4 million) as of December 31, 2019 and December 31, 2020, respectively. The amounts charged to expenses for credit losses of contract assets and write-offs charged against the allowance were RMB9 million (US$1 million) and nil, respectively, for the year ended December 31, 2020. The effect of adopting ASU 2016-13 was RMB11 million (US$2 million ) to the opening balance of contract assets, net.

Other Assets (Parenthetical) (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Prepaid Expense And Other Assets [Line Items]
Contract with customer, asset, allowance for credit loss	¥ 27		$ 4	¥ 7
Contract with customer, asset, credit loss expense (reversal)	9	$ 1
Contract with customer, asset, allowance for credit loss, writeoff	0
Accounting Standards Update 2016-13
Prepaid Expense And Other Assets [Line Items]
Contract with Customer, Asset, Allowance for Credit Loss, Period Increase (Decrease)	¥ 11	$ 2

Fixed Assets (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	¥ 42,304	$ 6,483	¥ 38,388
Accumulated depreciation and impairment	(24,796)	(3,800)	(20,077)
Fixed assets, net	17,508	2,683	18,311
Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	33,150	5,080	29,592
Office building
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,697	720	4,628
Office building related facility, machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,442	374	2,317
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	204	31	203
Office equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	971	149	944
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	386	59	391
Construction in Progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	¥ 454	$ 70	¥ 313

Fixed Assets - Additional Information (Detail) $ in Millions, ¥ in Billions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Property, Plant and Equipment [Abstract]
Fixed assets, depreciation expense	¥ 5.7	$ 869	¥ 5.6	¥ 3.7

Goodwill and Intangible Assets - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥) Unit	Dec. 31, 2020 USD ($) Unit	Dec. 31, 2019 CNY (¥) Unit	Dec. 31, 2018 CNY (¥)
Amortization Of Intangible Assets Disclosure [Abstract]
Number of reporting units the company	2	2	2
Impairment loss on intangible assets	¥ 350	$ 54	¥ 406	¥ 5
Amortization expense of intangible assets	¥ 544	$ 83	¥ 661	¥ 385

Changes in the Carrying Amount of Goodwill (Detail)
¥ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Goodwill [Line Items]

Beginning Balance

¥ 18,250

¥ 18,536

Goodwill acquired

3,998

978

Goodwill disposed

(1,265)

Foreign currency translation and other adjustments

Ending Balance

22,248

$ 3,410

18,250

iQIYI

Goodwill [Line Items]

Beginning Balance

3,888

Ending Balance

3,888

596

3,888

Baidu Core

Goodwill [Line Items]

Beginning Balance

14,362

14,648

Goodwill acquired

3,998

978

Goodwill disposed

^[1]

(1,265)

Foreign currency translation and other adjustments

Ending Balance

¥ 18,360

$ 2,814

¥ 14,362

[1]	(i) 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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	¥ 4,790		¥ 3,630
Finite lived intangible assets accumulated impairment	(776)		(428)
Finite-lived intangible assets, accumulated amortization	(1,992)		(1,602)
Finite-lived intangible assets, net carrying value	2,022	$ 310	1,600
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	1,054		658
Finite lived intangible assets accumulated impairment	(238)		(2)
Finite-lived intangible assets, accumulated amortization	(205)		(182)
Finite-lived intangible assets, net carrying value	611	94	474
Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	1,087		456
Finite lived intangible assets accumulated impairment	(52)		(52)
Finite-lived intangible assets, accumulated amortization	(307)		(188)
Finite-lived intangible assets, net carrying value	728	112	216
Intellectual property right
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	1,599		1,548
Finite lived intangible assets accumulated impairment	(467)		(355)
Finite-lived intangible assets, accumulated amortization	(757)		(594)
Finite-lived intangible assets, net carrying value	375	57	599
Online literature
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	151		163
Finite lived intangible assets accumulated impairment			0
Finite-lived intangible assets, accumulated amortization	(54)		(40)
Finite-lived intangible assets, net carrying value	97	15	123
Others
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	899		805
Finite lived intangible assets accumulated impairment	(19)		(19)
Finite-lived intangible assets, accumulated amortization	(669)		(598)
Finite-lived intangible assets, net carrying value	¥ 211	$ 32	¥ 188

Estimated Amortization Expense Relating to Existing Intangible Assets with Finite Lives (Detail) - Dec. 31, 2020 ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Estimated amortization expense
2021	¥ 505	$ 77
2022	448	69
2023	375	57
2024	337	52
2025	¥ 235	$ 36

Accounts Payable and Accrued Liabilities (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Payables and Accruals [Abstract]
Accrued other operating expenses	¥ 8,301	$ 1,272	¥ 8,925
Content acquisition costs	6,734	1,032	7,267
Tax payable	3,779	579	3,115
Accrued payroll and welfare	3,508	538	2,407
Payable to noncontrolling interest shareholders	3,466	531	240
Traffic acquisition costs	2,467	378	2,772
Bandwidth costs	1,985	304	2,492
Accruals for purchases of fixed assets	1,270	195	1,220
Funds collected on behalf of service providers	523	80	498
Interest payable	487	75	310
Payable to merchants	307	47	310
Users' and third party agents' deposits	268	41	641
Others	3,621	555	2,504
Accounts payable and accrued liabilities	¥ 36,716	$ 5,627	¥ 32,701

Loans Payable - Additional Information (Detail) ¥ in Millions, $ in Millions	1 Months Ended					12 Months Ended
	Oct. 31, 2020 CNY (¥)	Oct. 31, 2020 USD ($)	Sep. 30, 2019 CNY (¥)	Apr. 30, 2017 CNY (¥)	Jun. 30, 2016 USD ($) Tranche	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Nov. 30, 2019 CNY (¥)	Nov. 30, 2016 USD ($) Tranche
Debt Instrument [Line Items]
Short-term loans						¥ 3,000		¥ 2,618		$ 462
Weighted average interest rates for outstanding borrowings						4.30%		4.05%		4.30%	4.05%
Unused line of credit for short term loans						¥ 840		¥ 1,600		$ 129
iQIYI
Debt Instrument [Line Items]
Other receivables						35				5
Debt Collateral						548		562		84
Carrying amount of real estate used as collateral						548		562		84
Restricted cash						23				4	$ 139
Other loans [Member] \| Minimum
Debt Instrument [Line Items]
Securities with maturities ranging									2019
Other loans [Member] \| Maximum
Debt Instrument [Line Items]
Securities with maturities ranging									2020
Other loans [Member] \| iQIYI
Debt Instrument [Line Items]
Repayments Of LongTermDebt	¥ 30	$ 5				371	$ 57	75
Outstanding borrowings from third party investors						498		898		76
Long-term loans						¥ 498				$ 76
Other loans [Member] \| iQIYI \| 2018 factored receivables
Debt Instrument [Line Items]
Effective interest rate									7.00%
Proceeds from issuance of debt securities									¥ 446
Other loans [Member] \| iQIYI \| 2019 factored receivables
Debt Instrument [Line Items]
Effective interest rate												5.97%
Accounts payable to certain suppliers selected for securitization												¥ 587
Proceeds from issuance of debt securities								500
Asset-backed Securities [Member] \| Minimum
Debt Instrument [Line Items]
Expected guaranteed returns on securities						5.00%				5.00%
Asset-backed Securities [Member] \| Maximum
Debt Instrument [Line Items]
Expected guaranteed returns on securities						5.50%				5.50%
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
Interest rate				4.47%
Repayments Of LongTermDebt						¥ 274	42	10
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
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
Bank loan maturity period					5 years
Number of tranches issued and sold \| Tranche													2
A Group Of 21 Arrangers \| JPMorgan [Member]
Debt Instrument [Line Items]
Outstanding borrowings from third party investors						6,500		7,000		$ 1,000
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
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
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
Bank loan maturity period			2 years
Amount borrowed under the commitment of a bank loan			¥ 448
Interest rate			3.55%
Repayments Of LongTermDebt						34	$ 5	¥ 3
JP Morgan Chase Bank N A \| Held-to-maturity Securities
Debt Instrument [Line Items]
Debt Collateral						463				71	$ 71
Factoring Arrangements
Debt Instrument [Line Items]
Short-term loans						390				60
Factoring Arrangements \| iQIYI
Debt Instrument [Line Items]
Structured payable arrangement amount						¥ 396				$ 61

Notes Payable - Summary of Company Issued and Publicly Sold Unsecured Senior Notes (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
2024 Notes Issued On November 2018
Debt and Financial Instruments [Line Items]
Principal amount	$ 600
2024 Notes Issued On December 2018
Debt and Financial Instruments [Line Items]
Principal amount	$ 250
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%
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 Ten-year 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 \| 2024 Notes Issued On November 2018
Debt and Financial Instruments [Line Items]
Issue date	Nov. 14, 2018
Principal amount	$ 600
Mature date	May 14, 2024
Effective interest rate	4.51%
2028 November Notes
Debt and Financial Instruments [Line Items]
Issue date	Nov. 14, 2018
Principal amount	$ 400
Mature date	Nov. 14, 2028
Effective interest rate	4.99%
2025 Five-year Notes
Debt and Financial Instruments [Line Items]
Issue date	Apr. 07, 2020
Principal amount	$ 600
Mature date	Apr. 07, 2025
Effective interest rate	3.22%
2030 April Notes
Debt and Financial Instruments [Line Items]
Issue date	Apr. 07, 2020
Principal amount	$ 400
Mature date	Apr. 07, 2030
Effective interest rate	3.54%
2026 Notes
Debt and Financial Instruments [Line Items]
Issue date	Oct. 09, 2020
Principal amount	$ 650
Mature date	Apr. 09, 2026
Effective interest rate	1.81%
2030 October Notes
Debt and Financial Instruments [Line Items]
Issue date	Oct. 09, 2020
Principal amount	$ 300
Mature date	Oct. 09, 2030
Effective interest rate	2.43%
2024 Notes \| 2024 Notes Issued On December 2018
Debt and Financial Instruments [Line Items]
Issue date	Dec. 10, 2018
Principal amount	$ 250
Mature date	May 14, 2024
Effective interest rate	4.54%

Notes Payable - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Debt instrument redemption price percentage	100.00%
2024 Notes Issued On November 2018
Debt Instrument [Line Items]
Interest rate	4.375%
Payment frequency of debt interest	semi-annually
Principal amount	$ 600
2024 Notes Issued On December 2018
Debt Instrument [Line Items]
Interest rate	4.375%
Payment frequency of debt interest	semi-annually
Principal amount	$ 250
2022 Ten-year Notes
Debt Instrument [Line Items]
Interest rate	3.50%
Payment frequency of debt interest	semi-annually
Principal amount	$ 750
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%
Payment frequency of debt interest	semi-annually
Principal amount	$ 750
2022 Five-year Notes
Debt Instrument [Line Items]
Interest rate	2.875%
Payment frequency of debt interest	semi-annually
Principal amount	$ 900
2027 Notes
Debt Instrument [Line Items]
Interest rate	3.625%
Payment frequency of debt interest	semi-annually
Principal amount	$ 600
2023 Notes
Debt Instrument [Line Items]
Interest rate	3.875%
Payment frequency of debt interest	semi-annually
Principal amount	$ 1,000
2028 March Notes
Debt Instrument [Line Items]
Interest rate	4.375%
Payment frequency of debt interest	semi-annually
Principal amount	$ 500
2028 November Notes
Debt Instrument [Line Items]
Interest rate	4.875%
Payment frequency of debt interest	semi-annually
Principal amount	$ 400
2025 Ten-year Notes
Debt Instrument [Line Items]
Interest rate	4.125%
Payment frequency of debt interest	semi-annually
Principal amount	$ 500
2025 Five-year Notes
Debt Instrument [Line Items]
Interest rate	3.075%
Payment frequency of debt interest	semi-annually
Principal amount	$ 600
2030 April Notes
Debt Instrument [Line Items]
Interest rate	3.425%
Payment frequency of debt interest	semi-annually
Principal amount	$ 400
2026 Notes
Debt Instrument [Line Items]
Interest rate	1.72%
Payment frequency of debt interest	semi-annually
Principal amount	$ 650
2030 October Notes
Debt Instrument [Line Items]
Interest rate	2.375%
Payment frequency of debt interest	semi-annually
Principal amount	$ 300
Outstanding Notes [Member]
Debt Instrument [Line Items]
Discount on debt issued	20
Debt issuance cost	$ 36

Principal Amount and Unamortized Discount and Debt Issuance Costs (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Debt Disclosure [Abstract]
Principal amount	¥ 48,638	$ 7,454	¥ 43,519
Unamortized discount and debt issuance costs	(230)	(35)	(210)
Long-term Debt, Total	¥ 48,408	$ 7,419	¥ 43,309

Repayment of Principal Amount of Long Term Debts (Detail) - Dec. 31, 2020 - Long Term Debt ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Long Term Debt Maturities Repayments Of Principal [Line Items]
2021	¥ 7,465	$ 1,144
2022	10,766	1,650
2023	6,525	1,000
2024	5,546	850
2025	7,178	1,100
Thereafter	¥ 18,596	$ 2,850

Convertible Notes - Additional Information (Detail) ¥ in Millions, $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2018 USD ($) $ / A	Mar. 31, 2019 USD ($) $ / A	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Debt maturities repayments in 2023			¥ 4,900				$ 750
Debt maturities repayments in 2025			7,800				1,200
Debt maturities repayments in 2026			5,200				800
Senior Convertible Notes
Debt Instrument [Line Items]
The amount of interest cost recognized relating to both the contractual interest coupon and amortization of the discount on the liability component			¥ 799	$ 123	¥ 670	¥ 24
iQIYI 2023 Convertible Notes
Debt Instrument [Line Items]
Debt face amount	$ 750
Interest rate	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%
Principal amount of liability component							750
Remaining Accretion Period			11 months 1 day	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]
Price of call options on iQIYI's ADS	$ 68
Cap exercise price of capped call options \| $ / A	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
Debt, put date					Apr. 01, 2023
Conversion rate of convertible notes, ADS per US$1,000		33.0003
Effective interest rate		6.01%
Principal amount of liability component							1,200
Remaining Accretion Period			2 years 3 months	2 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]
Price of call options on iQIYI's ADS		$ 85
Cap exercise price of capped call options \| $ / A		40.02
IQIYI 2026 Convertible Notes
Debt Instrument [Line Items]
Debt face amount							$ 800
Interest rate			4.00%				4.00%
Debt, maturity date			Dec. 15, 2026	Dec. 15, 2026
Debt, put date			Aug. 01, 2024	Aug. 01, 2024
Conversion rate of convertible notes, ADS per US$1,000			44.8179	44.8179
Effective interest rate			6.94%				6.94%
Principal amount of liability component							$ 800
Remaining Accretion Period			3 years 7 months 2 days	3 years 7 months 2 days
Debt Instrument Frequency Of Periodic Interest Payment			interest is payable semi-annually	interest is payable semi-annually
Percentage of principal amount of debt redeemed			100.00%	100.00%

Convertible Notes - Summary of Carying Amount of the Convertible Notes (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Liability component:
Principal	¥ 48,638	$ 7,454	¥ 43,519
Net carrying amount	48,408	7,419	43,309
Lqiyi Two Thousand Twenty Three Convertible Notes And Two Thousand Twenty Five Convertible Notes And Two Thousand Twenty Six Convertible Notes Collectively [Member]
Liability component:
Principal	17,954	2,751	13,578
Less: unamortized debt discount	1,275	195	1,281
Net carrying amount	16,679	2,556	12,297
Equity component:
Carrying amount	¥ 1,744	$ 267	¥ 1,349

Leases -Summary of Supplemental cash flow information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Leases [Abstract]
Cash payments for operating leases	¥ 5,187	$ 795	¥ 2,631
ROU assets obtained in exchange for operating lease liabilities	¥ 2,841	$ 435	¥ 3,896

Leases -Summary of Future lease payments (Detail) - Dec. 31, 2020 ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Leases [Abstract]
2021	¥ 2,430	$ 372
2022	1,856	284
2023	1,433	220
2024	1,032	158
2025	464	71
Thereafter	624	96
Total future lease payments	7,839	1,201
Less: Imputed interest	780	118
Total lease liability balance	¥ 7,059	$ 1,083

Leases - Additional Information (Detail) $ in Millions	12 Months Ended
Leases - Additional Information (Detail) $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Leases [Abstract]
Operating lease, weighted average remaining lease term	16 years 2 months 12 days	16 years 2 months 12 days
Operating lease, weighted average discount rate	4.53%	4.53%
Short-term lease cost	¥ 427,000,000	$ 65	¥ 434,000,000
Lease Term Of Contract	12 months	12 months
Operating lease cost	¥ 3,000,000,000.0	$ 456	¥ 2,700,000,000
Lease costs capitalized	¥ 0

Income Taxes - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($)
Income Taxes [Line Items]
Unified statutory income tax rate under current EIT law	25.00%	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%	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%	5.00%
Statutory withholding tax rate for capital gains	10.00%	10.00%
Net losses deriving from entities in the PRC, Hong Kong and Japan	¥ 9,700				$ 1,500
Accrued withholding tax	1,400
Undistributed earnings no withholding tax has accrued	154,100				$ 23,600
Total income tax expense	¥ 4,064	$ 623	¥ 1,948	¥ 4,743
High And New Technology Enterprise
Income Taxes [Line Items]
A preferential enterprise income tax rate	15.00%	15.00%
Preferential enterprise income tax rate, effective period	3 years	3 years
Net operating loss carryforward period	10 years	10 years
Key Software Enterprise
Income Taxes [Line Items]
A preferential enterprise income tax rate	10.00%	10.00%
PRC
Income Taxes [Line Items]
Net operating loss carryforward period	5 years	5 years
Net operating loss carryforwards begins to expire	2021	2021
Time period that tax authorities could conduct examinations of entity's tax filings	5 years	5 years
PRC \| Earliest Tax Year
Income Taxes [Line Items]
Tax years remain open to examination by respective taxing jurisdictions	2015	2015
PRC \| Latest Tax Year
Income Taxes [Line Items]
Tax years remain open to examination by respective taxing jurisdictions	2020	2020
Japan
Income Taxes [Line Items]
Net operating loss carryforward period	9 years	9 years
Baidu HK
Income Taxes [Line Items]
Income tax rate	16.50%	16.50%
Baidu Japan
Income Taxes [Line Items]
Income tax rate	31.00%	31.00%	31.00%	31.00%
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%	15.00%	15.00%	15.00%
Certain PRC Subsidiaries and VIEs \| High And New Technology Enterprise \| Expiration Period Two
Income Taxes [Line Items]
Tax holiday, expiration year	2022	2022
Certain PRC Subsidiaries and VIEs \| High And New Technology Enterprise \| Expiration Period Three
Income Taxes [Line Items]
Tax holiday, expiration year	2023	2023

Income Before Income Taxes (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Income Loss From Continuing Operations Before Income Taxes Minority Interest By Jurisdiction [Abstract]
PRC	¥ 19,711	$ 3,021	¥ 13,076	¥ 23,524
Non-PRC	3,379	518	(13,416)	3,801
Income (loss) before income taxes	¥ 23,090	$ 3,539	¥ (340)	¥ 27,325

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Components of Income Tax (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Income Tax Disclosure [Abstract]
Current income tax	¥ 4,668	$ 716	¥ 3,564	¥ 6,184
Income tax refund due to reduced tax rate	(719)	(110)	(920)	(680)
Adjustments of deferred tax assets due to change in tax rates	(5)	(1)	9	0
Deferred income tax (benefit) expense	120	18	(705)	(761)
Taxation for the year	¥ 4,064	$ 623	¥ 1,948	¥ 4,743

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Expected taxation at PRC statutory tax rate

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, 2020

CNY (¥)

¥ / shares

Dec. 31, 2020

USD ($)

$ / shares

Dec. 31, 2019

CNY (¥)

¥ / shares

Dec. 31, 2018

CNY (¥)

¥ / shares

Income Tax Disclosure [Abstract]

¥ 5,773

$ 885

¥ (85)

¥ 6,831

Effect of differing tax rates in different jurisdictions

208

3,299

493

Non-taxable income

(995)

(152)

(419)

(1,555)

Non-deductible expenses

3,416

523

2,124

935

Research and development super-deduction

(1,549)

(237)

(1,245)

(1,047)

Effect of PRC preferential tax rates and tax holiday

(2,891)

(443)

(1,327)

(2,250)

Effect of tax rate changes on deferred taxes

(5)

(1)

Reversal of prior year's EIT

(951)

(146)

(1,134)

(616)

PRC withholding tax

122

(224)

553

Addition to valuation allowance

936

143

950

1,399

Taxation for the year

¥ 4,064

$ 623

¥ 1,948

¥ 4,743

Effective tax rate

18.00%

(573.00%)

17.00%

Effect of preferential tax rates inside the PRC on basic earnings per Class A and Class B ordinary share | (per share)

^[1]

¥ 1.06

$ 0.16

¥ 0.49

¥ 0.81

[1]

Effect of preferential tax rates inside the PRC on basic earnings per Class A and Class B ordinary share for the years ended December 31, 2018, 2019 and 2020 have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that became effective on March 1, 2021, as detailed in Note 1 and Note 21

Tax Effects of Temporary Differences that Gave Rise to Deferred Tax Balances (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Deferred tax assets:
Allowance for credit loss	¥ 452	$ 69	¥ 332
Accrued expenses, payroll and others	5,456	836	4,820
Fixed assets depreciation	106	16	151
Net operating loss carry-forward	1,811	278	1,733
Less: valuation allowance	(5,895)	(903)	(4,843)
Deferred tax assets, net	1,930	296	2,193
Deferred tax liabilities:
Long-lived assets arising from acquisitions	406	62	275
Withholding tax on PRC subsidiaries' undistributed earnings	1,381	212	1,621
Tax on capital gains	943	145	1,159
Others	593	90	218
Deferred tax liabilities	¥ 3,323	$ 509	¥ 3,273

Employee Defined Combination Plan - Additional Information (Detail) $ in Millions, ¥ in Billions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Retirement Benefits [Abstract]
Amounts incurred for employee defined contribution plan	¥ 2.7	$ 417	¥ 3.2	¥ 2.9

Commitment and Contingencies - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Commitments and Contingencies Disclosure [Line Items]
Investment commitments	¥ 1,500
Network Infrastructure and Buildings
Commitments and Contingencies Disclosure [Line Items]
Capital commitments contracted not yet reflected in financial statements	754		$ 116
Obligations related to the entity's directors and officers
Commitments and Contingencies Disclosure [Line Items]
Investment commitments \| $		$ 223
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, 2020 ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Future Minimum Payments Under Noncancelable Agreements For Bandwidth And Property Management Fees [Abstract]
2021	¥ 742	$ 114
2022	323	50
2023	135	21
2024	81	12
2025	45	7
Thereafter	47	7
Total Future minimum payments under non-cancelable agreements for bandwidth and property management fees	¥ 1,373	$ 211

Future Minimum Lease Payments For Non-Cancelable Agreements For Licensed Copyrights and Produced Content (Detail) - Dec. 31, 2020 - Licensed copyrights ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Commitment And Contingencies [Line Items]
2021	¥ 10,480	$ 1,606
2022	6,239	956
2023	3,421	524
2024	1,286	197
2025	345	53
Thereafter	0	0
Future Minimum Payments Under Non-Cancelable Licensing agreements	¥ 21,771	$ 3,336

Summary of Redeemable Noncontrolling Interest (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($)
Temporary Equity Disclosure [Abstract]
Balance as of January 1	¥ 1,109	$ 170	¥ 716	¥ 11,022
Business combinations (Note 3)	0		182	698	$ 0
Issuance of subsidiary shares	1,866	286	100
Accretion of redeemable noncontrolling interests	127	19	111	146
Conversion of iQIYI preferred shares recognized as redeemable noncontrolling interests to ordinary shares				(11,150)
Balance as of December 31	¥ 3,102	$ 475	¥ 1,109	¥ 716

Redeemable Noncontrolling Interests - Additional Information (Detail) - shares	Sep. 30, 2020	Oct. 31, 2018
Subsidary [Member]
Temporary Equity Disclosure [Abstract]
Outstanding preference shares		159,820,917
Preferred Stock
Temporary Equity Disclosure [Abstract]
Preferred stock, shares issued	0	0
Smart Living Group [Member] \| Preferred Stock
Temporary Equity Disclosure [Abstract]
Preferred stock, shares issued	61,666,667

Shareholder's Equity - Additional Information (Detail) $ / shares in Units, ¥ in Millions, $ in Millions		1 Months Ended	12 Months Ended
	Jun. 27, 2018 USD ($)	Oct. 31, 2019 CNY (¥)	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2018 CNY (¥) shares	Dec. 31, 2020 USD ($) $ / shares shares	Aug. 31, 2020 USD ($)	May 13, 2020 USD ($)	Dec. 31, 2019 $ / shares	May 16, 2019 USD ($)
Stockholders Equity Note [Line Items]
Common stock, shares authorized			69,632,000,000				69,632,000,000
Transfer of Class B ordinary shares to Class A Ordinary shares			4,200,000	4,200,000
Stock repurchase program, proposed aggregate value \| $	$ 1,000										$ 1,000
Stock repurchase program, period	12 months
Number of Class A ordinary shares repurchased			126,096,000	126,096,000	53,162,720	16,573,200
Aggregate purchase price \| ¥			¥ 13,054		¥ 4,958	¥ 3,312
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			¥ 45,000		¥ 40,800		$ 6,900
Foreign currency translation adjustment			¥ 1,200	$ 189
Previously Reported [Member]
Stockholders Equity Note [Line Items]
Common stock, shares authorized			870,400,000				870,400,000
Number of Class A ordinary shares repurchased			1,576,200	1,576,200	664,534	207,165
2020 Shares Repurchase Program
Stockholders Equity Note [Line Items]
Stock repurchase program, proposed aggregate value \| $							$ 4,500	$ 3,000	$ 1,000
Trip.com International, Ltd
Stockholders Equity Note [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss) \| ¥		¥ 989
Preferred Stock
Stockholders Equity Note [Line Items]
Preferred stock, shares authorized			800,000,000				800,000,000
Preferred Stock \| Previously Reported [Member]
Stockholders Equity Note [Line Items]
Preferred stock, shares authorized			10,000,000				10,000,000
Class A Ordinary Shares
Stockholders Equity Note [Line Items]
Common stock, shares authorized			66,000,000,000		66,000,000,000		66,000,000,000
Par value per share (US$) \| $ / shares							$ 0.000000625			$ 0.000000625
Common stock, shares outstanding			2,107,228,720		2,190,529,680		2,107,228,720
Aggregate purchase price			¥ 13,100	$ 2,000	¥ 5,000	¥ 3,300
Class A Ordinary Shares \| Previously Reported [Member]
Stockholders Equity Note [Line Items]
Common stock, shares authorized			825,000,000				825,000,000
Par value per share (US$) \| $ / shares							$ 0.00005
Common stock, shares outstanding			26,340,359				26,340,359
Class B Ordinary Shares
Stockholders Equity Note [Line Items]
Common stock, shares authorized			2,832,000,000		2,832,000,000		2,832,000,000
Par value per share (US$) \| $ / shares							$ 0.000000625			$ 0.000000625
Number of votes per share			ten	ten
Common stock, shares outstanding			571,900,320		576,100,320		571,900,320
Class B Ordinary Shares \| Previously Reported [Member]
Stockholders Equity Note [Line Items]
Common stock, shares authorized			35,400,000				35,400,000
Par value per share (US$) \| $ / shares							$ 0.00005
Common stock, shares outstanding			7,148,754				7,148,754

Shareholders' Equity (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Retained Earnings (Accumulated Deficit) [Abstract]
PRC statutory reserve funds	¥ 806	$ 123	¥ 626
Unreserved retained earnings	134,478	20,610	125,642
Total retained earnings	¥ 135,284	$ 20,733	¥ 126,268

Changes in Accumulated Other Comprehensive Income/(Loss) by Component, Net of Tax (Detail)
¥ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Dec. 31, 2018

CNY (¥)

Accumulated Other Comprehensive Income (Loss) [Line Items]

Cumulative effect of accounting change

¥ 171,706

¥ 175,036

¥ 119,350

933

Net current-period other comprehensive income (loss)

1,775

$ 271

(1,490)

286

Foreign currency translation adjustment

188,741

28,926

171,706

175,036

Accumulated Other Comprehensive Income (Loss) [Line Items]

Other comprehensive income before reclassification

(2,584)

(1,700)

(888)

1,936

207

114

Amounts reclassified from accumulated other comprehensive income

(989)

Net current-period other comprehensive income (loss)

1,936

(782)

194

Other comprehensive income attribute to noncontrolling interests and redeemable noncontrolling interests

(192)

(102)

(1,006)

Unrealized gains on available- for-sale investments

(840)

(129)

(2,584)

(1,700)

Accumulated Other Comprehensive Income (Loss) [Line Items]

Cumulative effect of accounting change

1,201

1,910

1,818

^[1]

(1,854)

Other comprehensive income before reclassification

380

1,981

4,117

Amounts reclassified from accumulated other comprehensive income

(541)

(2,689)

(2,171)

Net current-period other comprehensive income (loss)

(161)

(708)

Other comprehensive income attribute to noncontrolling interests and redeemable noncontrolling interests

(1)

Accumulated Other Comprehensive Income

1,039

159

1,201

1,910

Accumulated Other Comprehensive Income (Loss) [Line Items]

Cumulative effect of accounting change

(1,383)

210

930

^[1]

(1,854)

Other comprehensive income before reclassification

2,316

2,188

4,231

Amounts reclassified from accumulated other comprehensive income

(541)

(3,678)

(2,091)

Net current-period other comprehensive income (loss)

1,775

(1,490)

286

Other comprehensive income attribute to noncontrolling interests and redeemable noncontrolling interests

(193)

(103)

(1,006)

¥ 199

$ 30

¥ (1,383)

¥ 210

[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 ASU 2016-13 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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Other Comprehensive Income (Loss), Tax [Abstract]
Other comprehensive income (loss) before reclassification	¥ (59)	$ (9)	¥ (280)	¥ (409)
Amounts reclassified from accumulated other comprehensive income	83	13	402	328
Net current-period other comprehensive income (loss)	¥ 24	$ 4	¥ 122	¥ (81)

Reconciliation of Net Income to Numerator for Computation of Basic and Diluted Per Share (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Net Income (Loss) Available to Common Stockholders, Basic [Abstract]
Net income attributable to Baidu, Inc.	¥ 22,472	$ 3,444	¥ 2,057	¥ 27,573
Accretion of the redeemable noncontrolling interests	(88)	(13)	(77)	(130)
Numerator for basic EPS computation	22,384	3,431	1,980	27,443
Impact of subsidiaries' and investees' diluted earnings per share	0	0	(28)	0
Numerator for diluted EPS calculation	¥ 22,384	$ 3,431	¥ 1,952	¥ 27,443

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Allocation of net income attributable to Baidu, Inc.

Computation of Basic and Diluted Earnings Per Class A and Class B Ordinary Share (Detail)
¥ / shares in Units, $ / shares in Units, ¥ in Millions, shares in Millions, $ in Millions

12 Months Ended

Dec. 31, 2020

CNY (¥)

¥ / shares

Dec. 31, 2020

USD ($)

$ / shares

Dec. 31, 2019

CNY (¥)

¥ / shares

Dec. 31, 2018

CNY (¥)

¥ / shares

Numerator

¥ 22,384

$ 3,431

¥ 1,980

¥ 27,443

Numerator

Numerator for diluted EPS calculation

22,384

3,431

1,952

27,443

Class A Ordinary Shares

Numerator

Allocation of net income attributable to Baidu, Inc.

¥ 17,683

$ 2,710

¥ 1,571

¥ 21,780

Denominator used for basic EPS

^[1]

2,158

2,211

2,216

Earnings per share - basic | (per share)

^[1]

¥ 8.19

$ 1.26

¥ 0.71

¥ 9.83

Numerator

Allocation of net income attributable to Baidu, Inc. for diluted computation

¥ 17,723

$ 2,716

¥ 1,549

¥ 21,824

Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares

4,661

715

403

5,619

Numerator for diluted EPS calculation

¥ 22,384

$ 3,431

¥ 1,952

¥ 27,443

Weighted average ordinary shares outstanding

^[1]

2,158

2,211

2,216

Conversion of Class B to Class A ordinary shares

^[1]

574

576

Share-based awards

^[1]

Denominator used for diluted EPS

^[1]

2,756

2,791

2,814

Earnings per share - diluted | (per share)

^[1]

¥ 8.12

$ 1.24

¥ 0.70

¥ 9.75

Class A Ordinary Shares | American Depositary Shares

Denominator used for basic EPS

^[1]

270

276

277

Earnings per share - basic | (per share)

^[1]

¥ 65.54

$ 10.04

¥ 5.68

¥ 78.64

Weighted average ordinary shares outstanding

^[1]

270

276

277

Denominator used for diluted EPS

^[1]

344

349

352

Earnings per share - diluted | (per share)

^[1]

¥ 64.98

$ 9.96

¥ 5.60

¥ 78.03

Class B Ordinary Shares

Numerator

Allocation of net income attributable to Baidu, Inc.

¥ 4,701

$ 721

¥ 409

¥ 5,663

Denominator used for basic EPS

^[1]

574

576

Earnings per share - basic | (per share)

^[1]

¥ 8.19

$ 1.26

¥ 0.71

¥ 9.83

Numerator

Allocation of net income attributable to Baidu, Inc. for diluted computation

¥ 4,661

$ 715

¥ 403

¥ 5,619

Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares

Numerator for diluted EPS calculation

¥ 4,661

$ 715

¥ 403

¥ 5,619

Weighted average ordinary shares outstanding

^[1]

574

576

Conversion of Class B to Class A ordinary shares

^[1]

Share-based awards

^[1]

Denominator used for diluted EPS

^[1]

574

576

Earnings per share - diluted | (per share)

^[1]

¥ 8.12

$ 1.24

¥ 0.70

¥ 9.75

[1]

Share-Based Awards Plan - Additional Information of Baidu, Inc. (Detail)
$ / shares in Units, ¥ in Millions, $ in Millions

12 Months Ended

Sep. 15, 2020

Jul. 31, 2018

Nov. 30, 2017

Oct. 31, 2010

Dec. 31, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

$ / shares

Dec. 31, 2019

CNY (¥)

Dec. 31, 2019

$ / shares

Dec. 31, 2018

CNY (¥)

Dec. 31, 2018

$ / shares

Dec. 31, 2020

USD ($)

Dec. 31, 2008

Parent Company

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of voting power

10 years

10.00%

The weighted-average grant-date fair value of restricted shares granted during respective years | $ / shares

^[1]

$ 14

Parent Company | Stock Options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total intrinsic value of options exercised

¥ 157

$ 24

¥ 77

¥ 474

Total fair value of options vested

261

$ 40

216

956

Unrecognized share-based compensation cost

¥ 215

$ 33

A weighted-average vesting period over which the deferred cost is expected to be recognized

1 year 9 months 18 days

The weighted-average grant-date fair value of options granted during respective years | $ / shares

$ 9

$ 5

$ 13

Parent Company | Stock Options | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares vesting term

4 years

Parent Company | Stock Options | Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares vesting term

2 years

Parent Company | Restricted Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized share-based compensation cost

¥ 6,400

$ 1,000

A weighted-average vesting period over which the deferred cost is expected to be recognized

3 years

Total fair value of shares vested during respective years, restricted shares

¥ 4,600

$ 700

¥ 4,100

¥ 3,400

The weighted-average grant-date fair value of restricted shares granted during respective years | $ / shares

$ 14

$ 16

$ 28

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%

Parent Company | 2008 Plan | Class A Ordinary Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Parent Company | 2008 Plan | Revision of Prior Period, Reclassification, Adjustment [Member] | Class A Ordinary Shares

3,428,777

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Parent Company | 2008 Plan | Employee Holding No More Than Ten Percent Voting Power | Maximum

274,302,160

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Parent Company | 2008 Plan | Employee Holding More Than Ten Percent Voting Power | Maximum

10 years

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Parent Company | Stock Incentive Plan 2018 [Member]

5 years

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Parent Company | Stock Incentive Plan 2018 [Member] | Revision of Prior Period, Reclassification, Adjustment [Member]

3,443,950

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

iQIYI | 2010 Equity Incentive Plan

275,516,000

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

589,729,714

Unrecognized share-based compensation cost

20 years

10 years

Shares vesting term

4 years

¥ 2,200

$ 338

A weighted-average vesting period over which the deferred cost is expected to be recognized

2 years 8 months 12 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%

iQIYI | 2010 Equity Incentive Plan | Quarterly basis thereafter

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting rights percentage

75.00%

iQIYI | 2017 Stock Incentive Plan.

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

720,000

Outstanding, December 31, 2019

10 years

[1]	The number of restricted shares and weighted average grant date fair value has been retrospectively adjusted for the Share Subdivision that became effective on March 1, 2021 as detailed in Note 1 and Note 21.

Option Activity Baidu. Inc (Detail) - Parent Company - USD ($)
$ / shares in Units, $ in Millions

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Number of shares options

^[1]

29,854,480

Granted

^[1]

1,028,240

Exercised

^[1]

(3,516,400)

Forfeited/Cancelled

^[1]

(3,147,280)

Outstanding, December 31, 2020

^[1]

24,219,040

29,854,480

^[1]

19,756,080

Weighted average exercise price (US$)

^[1]

12,098,400

Outstanding, December 31, 2019

^[1]

$ 17

Granted

^[1]

Exercised

^[1]

Forfeited/Cancelled

^[1]

Outstanding, December 31, 2020

^[1]

$ 17

^[1]

Weighted average remaining contractual life (Years)

^[1]

$ 21

Outstanding

7 years

8 years

7 years

Aggregate intrinsic value (US$ in millions)

5 years

Outstanding

$ 245

$ 72

186

Restricted Shares Roll Forward - Number of Shares

$ 78

[1]	The number of share options and weighted average exercise price has been retrospectively adjusted for the Share Subdivision that became effective on March 1, 2021 as detailed in Note 1 and Note 21.

Assumptions Used to Estimate Fair Values of Share Options Granted - Baidu, Inc. (Detail) - Parent Company	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
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	1.51%	1.58%
Risk-free interest rate, maximum	1.52%	2.49%
Dividend yield	0.00%	0.00%	0.00%
Expected volatility range, minimum	34.83%	34.62%	34.47%
Expected volatility range, maximum	34.92%	35.14%	35.36%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life	5 years 10 months 24 days	5 years 9 months 29 days	4 years 10 months 20 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life	6 years 3 days	6 years 10 days	6 years 3 months

Restricted Shares Activity (Detail) - Parent Company

12 Months Ended

Dec. 31, 2020

$ / shares

^[1]

Unvested, December 31, 2019 | shares

113,604,320

Granted | shares

73,900,080

Vested | shares

(35,078,640)

Forfeited/Cancelled | shares

(21,924,240)

Unvested, December 31, 2020 | shares

130,501,520

Restricted Shares Roll Forward - Weighted Average Grant Date Fair Value

Unvested, December 31, 2019 | $ / shares

$ 19

Granted | $ / shares

Vested | $ / shares

Forfeited/Cancelled | $ / shares

Unvested, December 31, 2020 | $ / shares

$ 16

[1]	The number of restricted shares and weighted average grant date fair value has been retrospectively adjusted for the Share Subdivision that became effective on March 1, 2021 as detailed in Note 1 and Note 21.

Share-Based Awards Plan - Option Activity (Detail) - iQIYI - 2010 Equity Incentive Plan - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Number of shares options
Outstanding, December 31, 2019	406,912,618
Granted	88,611,584
Forfeited	(12,111,374)
Exercised	(62,714,554)
Outstanding, December 31, 2020	420,698,274	406,912,618
Vested and expected to vest at December 31, 2020	401,055,919
Exercisable at December 31, 2020	245,054,484
Weighted average exercise price (US$)
Outstanding, December 31, 2019	$ 0.48
Granted	0.51
Forfeited	0.51
Exercised	0.44
Outstanding, December 31, 2020	0.49	$ 0.48
Vested and expected to vest at December 31, 2020	0.48
Exercisable at December 31, 2020	$ 0.47
Weighted average remaining contractual life (Years)
Outstanding	7 years	7 years
Vested and expected to vest at December 31, 2020	7 years
Exercisable at December 31, 2020	7 years
Aggregate intrinsic value (US$ in millions)
Outstanding	$ 846	$ 1,031
Vested and expected to vest at December 31, 2020	807
Exercisable at December 31, 2020	$ 498

Total Share-Based Compensation Cost Recognized (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	¥ 6,728	$ 1,031	¥ 5,626	¥ 4,676
iQIYI
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	1,370	210	1,085	556
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	360	55	327	224
Cost of revenues \| iQIYI
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	202	31	171	83
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	1,897	290	1,768	1,725
Selling, general and administrative \| iQIYI
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	851	130	676	369
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	4,471	686	3,531	2,727
Research and development \| iQIYI
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	¥ 317	$ 49	¥ 238	¥ 104

Related Party Transactions - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Related Party Transaction [Line Items]
Cost from related parties	¥ 1,900	$ 290	¥ 3,000	¥ 297

Related Party Transactions - Schedule Of Revenue Received From Major Related Parties (Detail)
¥ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Dec. 31, 2018

CNY (¥)

Revenues:

¥ 2,846

$ 436

¥ 3,032

¥ 1,594

Trip

Revenues:

204

627

774

Du Xiaoman

Revenues:

678

104

731

256

Investee C

Revenues:

^[1]

949

145

280

143

Revenues:

¥ 1,015

$ 156

¥ 1,394

¥ 421

[1]	Investee C is one of the Company’ investees, over which the Company has significant influence.

Related Party Transactions (Detail)
¥ in Millions, $ in Millions

Dec. 31, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Amounts due from related parties, non-current:

¥ 726

$ 111

¥ 1,594

Amounts due from related parties, non-current

3,438

527

3,564

1,324

203

2,231

3,543

543

3,846

Trip

^[1]

^[2]

Du Xiaoman

Amounts due from related parties, non-current:

^[3]

306

737

Amounts due from related parties, non-current

^[3]

3,398

521

3,391

^[4]

489

973

^[5]

3,216

493

3,430

Other Related Parties

Amounts due from related parties, non-current:

^[6]

186

301

Amounts due from related parties, non-current

^[7]

173

^[8]

610

484

^[9]

Investee A [Member]

^[10]

345

^[11]

476

Investee B [Member]

^[12]

175

249

^[12]

325

410

Investee C [Member]

^[13]

¥ 212

$ 32

¥ 115

[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 balances represent non-trade long-term loans due from Du Xiaoman with interest rates ranging from 0.00% to 0.50% in 2020, and amounts arising from services the Company provided to Du Xiaoman.
[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 non-trade loans provided by Du Xiaoman with interest rates of nil in 2020.
[5]	The balances mainly represent non-trade interest-free long-term loans provided by Du Xiaoman.
[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 including advertising services and licensing of content assets provided by the Company’s investees and non-trade amounts payable for acquiring the equity interest of the Company’s investees.
[9]	The balance represents mainly deferred revenue relating to the future services to be provided by the Company to investees.
[10]	The balance mainly represents a non-trade interest-bearing loan provided to Investee A, which was an equity investee as of December 31, 2019. The Company acquired Investee A on July 16, 2020, and accordingly, all corresponding outstanding balance has been eliminated in the consolidated balance sheet.
[11]	The balances mainly represent amounts arising from hardware products purchased from Investee A, and a non-trade interest-bearing loan provided by the Investee A, as of December 31, 2019. The Company acquired Investee A on July 16, 2020, and accordingly, all corresponding outstanding balances have been eliminated in the consolidated balance sheet.
[12]	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 investee.
[13]	The balances mainly represent amounts arising from services including online marketing services and cloud services the Company provided to Investee C.

Related Party Transactions (Parenthetical) (Detail) - Service Provided - Du Xiaoman	Dec. 31, 2020
Minimum
Related Party Transaction [Line Items]
Long term loans, interest rate	0.00%
Maximum
Related Party Transaction [Line Items]
Long term loans, interest rate	0.50%

Segment Reporting - Additional Information (Detail)	12 Months Ended
Segment Reporting - Additional Information (Detail)	Dec. 31, 2020 Segment
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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Segment Reporting Information [Line Items]
Total revenues	¥ 107,074	$ 16,410	¥ 107,413	¥ 102,277
Operating costs and expenses:
Cost of revenues	55,158	8,454	62,850	51,744
Selling, general and administrative	18,063	2,769	19,910	19,231
Research and development	19,513	2,989	18,346	15,772
Total operating costs and expenses	92,734	14,212	101,106	86,747
Operating profit (loss)	14,340	2,198	6,307	15,530
Total other income (loss), net	8,750	1,341	(6,647)	11,795
Income (loss) before income taxes	23,090	3,539	(340)	27,325
Income taxes	4,064	623	1,948	4,743
Net income (loss)	19,026	2,916	(2,288)	22,582
Less: net (loss) income attributable to noncontrolling interests	(3,446)	(528)	(4,345)	(4,991)
Net income (loss) attributable to Baidu, Inc.	22,472	3,444	2,057	27,573
Operating Segments \| Baidu Core
Segment Reporting Information [Line Items]
Total revenues	78,684	12,059	79,711	78,271
Operating costs and expenses:
Cost of revenues	28,368	4,348	34,019	25,370
Selling, general and administrative	12,931	1,982	14,733	15,310
Research and development	16,847	2,581	15,698	13,783
Total operating costs and expenses	58,146	8,911	64,450	54,463
Operating profit (loss)	20,538	3,148	15,261	23,808
Total other income (loss), net	9,693	1,486	(5,680)	13,169
Income (loss) before income taxes	30,231	4,634	9,581	36,977
Income taxes	4,041	619	1,896	4,664
Net income (loss)	26,190	4,015	7,685	32,313
Less: net (loss) income attributable to noncontrolling interests	(334)	(50)	105	(1,292)
Net income (loss) attributable to Baidu, Inc.	26,524	4,065	7,580	33,605
Operating Segments \| iQIYI
Segment Reporting Information [Line Items]
Total revenues	29,707	4,553	28,994	24,989
Operating costs and expenses:
Cost of revenues	27,884	4,273	30,348	27,133
Selling, general and administrative	5,188	795	5,237	4,168
Research and development	2,676	410	2,667	1,994
Total operating costs and expenses	35,748	5,478	38,252	33,295
Operating profit (loss)	(6,041)	(925)	(9,258)	(8,306)
Total other income (loss), net	(943)	(145)	(967)	(676)
Income (loss) before income taxes	(6,984)	(1,070)	(10,225)	(8,982)
Income taxes	23	4	52	79
Net income (loss)	(7,007)	(1,074)	(10,277)	(9,061)
Less: net (loss) income attributable to noncontrolling interests	31	5	46	49
Net income (loss) attributable to Baidu, Inc.	(7,038)	(1,079)	(10,323)	(9,110)
Intersegment Eliminations & Adjustments
Segment Reporting Information [Line Items]
Total revenues	(1,317)	(202)	(1,292)	(983)
Operating costs and expenses:
Cost of revenues	(1,094)	(167)	(1,517)	(759)
Selling, general and administrative	(56)	(8)	(60)	(247)
Research and development	(10)	(2)	(19)	(5)
Total operating costs and expenses	(1,160)	(177)	(1,596)	(1,011)
Operating profit (loss)	(157)	(25)	304	28
Total other income (loss), net				(698)
Income (loss) before income taxes	(157)	(25)	304	(670)
Net income (loss)	(157)	(25)	304	(670)
Less: net (loss) income attributable to noncontrolling interests	(3,143)	(483)	(4,496)	(3,748)
Net income (loss) attributable to Baidu, Inc.	¥ 2,986	$ 458	¥ 4,800	¥ 3,078

Segment Reporting - Summary of Revenue Disaggregated by Revenue (Detail)
¥ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Dec. 31, 2018

CNY (¥)

Operating Segments | Baidu Core

¥ 107,074

$ 16,410

¥ 107,413

¥ 102,277

Operating Segments | iQIYI

78,684

12,059

79,711

78,271

Operating Segments | Online marketing services | Baidu Core

29,707

4,553

28,994

24,989

Operating Segments | Cloud services | Baidu Core

66,283

10,158

70,038

72,645

Operating Segments | Interest income earned from provision of financial services | Baidu Core

^[1]

9,173

1,406

6,370

3,005

Operating Segments | Others | Baidu Core

1,724

Operating Segments | Membership services | iQIYI

^[1]

3,228

495

3,303

897

Operating Segments | Online advertising services | iQIYI

^[1]

16,491

2,527

14,436

10,623

Operating Segments | Content distribution | iQIYI

^[2]

6,822

1,046

8,271

9,329

Operating Segments | Others | iQIYI

^[1]

2,660

408

2,544

2,163

Intersegment Eliminations

^[1]

3,734

572

3,743

2,874

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

¥ (1,317)

$ (202)

¥ (1,292)

¥ (983)

[1]	The revenues were presented as “Others” in the consolidated statements of comprehensive income (loss)
[2]	The revenues were presented as “Online Marketing Revenue” in the consolidated statements of comprehensive income (loss)

Fair Value Disclosure and Measurement on Recurring Basis (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Fair value disclosure
Long-term notes payable	¥ 52,575	$ 8,057	¥ 45,282
Convertible senior notes	12,078	1,851	14,142
Convertible senior notes, current portion	4,967	761
Convertible senior notes, non-current portion	12,078	1,851	14,142
Convertible senior notes, non-current portion	11,927	1,828	12,297
Fair value measurements on a recurring basis
Total assets measured at fair value	20,688	3,171	22,784
Total liabilities measured at fair value	367	56	526
Cash Equivalents
Fair value disclosure
Time deposits	16,133	2,472	10,848
Money market funds	198	30	1,719
Short-term Investments
Fair value disclosure
Held-to-maturity debt investments	124,132	19,024	107,654
Fair value measurements on a recurring basis
Available-for-sale debt investments	2,865	439	5,637
Long-term investments
Fair value disclosure
Held-to-maturity debt investments	9,754	1,495	491
Fair value measurements on a recurring basis
Equity investments at fair value with readily determinable fair value	12,978	1,989	11,334
Investments accounted for at fair value	2,238	343	1,819
Available-for-sale debt investments	2,607	400	3,970
Other non-current assets
Fair value measurements on a recurring basis
Derivative instruments			24
Accounts Payable and Accrued Liabilities
Fair value measurements on a recurring basis
Derivative instruments	40	6	125
Amounts Due to Related Parties, Noncurrent
Fair value measurements on a recurring basis
Financial liabilities			401
Amounts Due To Related Parties current
Fair value measurements on a recurring basis
Financial liabilities	327	$ 50
Fair Value, Inputs, Level 1
Fair value measurements on a recurring basis
Total assets measured at fair value	12,978		11,334
Fair Value, Inputs, Level 1 \| Cash Equivalents
Fair value disclosure
Money market funds	198		1,719
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	12,978		11,334
Fair Value, Inputs, Level 2
Fair value disclosure
Long-term notes payable	52,575		45,282
Convertible senior notes			14,142
Convertible senior notes, current portion	4,967
Convertible senior notes, non-current portion			14,142
Convertible senior notes, non-current portion	12,078
Fair value measurements on a recurring basis
Total assets measured at fair value	2,865		5,661
Total liabilities measured at fair value	367		401
Fair Value, Inputs, Level 2 \| Cash Equivalents
Fair value disclosure
Time deposits	16,133		10,848
Fair Value, Inputs, Level 2 \| Short-term Investments
Fair value disclosure
Held-to-maturity debt investments	124,132		107,654
Fair value measurements on a recurring basis
Available-for-sale debt investments	2,865		5,637
Fair Value, Inputs, Level 2 \| Long-term investments
Fair value disclosure
Held-to-maturity debt investments	9,754		491
Fair Value, Inputs, Level 2 \| Other non-current assets
Fair value measurements on a recurring basis
Derivative instruments			24
Fair Value, Inputs, Level 2 \| Accounts Payable and Accrued Liabilities
Fair value measurements on a recurring basis
Derivative instruments	40
Fair Value, Inputs, Level 2 \| Amounts Due to Related Parties, Noncurrent
Fair value measurements on a recurring basis
Financial liabilities			401
Fair Value, Inputs, Level 2 \| Amounts Due To Related Parties current
Fair value measurements on a recurring basis
Financial liabilities	327
Fair Value, Inputs, Level 3
Fair value measurements on a recurring basis
Total assets measured at fair value	4,845		5,789
Total liabilities measured at fair value			125
Fair Value, Inputs, Level 3 \| Long-term investments
Fair value measurements on a recurring basis
Investments accounted for at fair value	2,238		1,819
Available-for-sale debt investments	¥ 2,607		3,970
Fair Value, Inputs, Level 3 \| Accounts Payable and Accrued Liabilities
Fair value measurements on a recurring basis
Derivative instruments			¥ 125

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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Begining Balance	¥ 1,819		¥ 1,457
Additions	371		282
Disposals	(63)		(128)
Net unrealized fair value increase recognized in earnings	151		197
Foreign currency translation adjustments	(40)		11
Ending balance	¥ 2,238	$ 343	¥ 1,819

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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Begining Balance	¥ 3,970		¥ 1,167
Additions	5		2,785
Disposals	(500)		(20)
Reclassification	412
Conversion to equity investment	(1,355)
Share of losses in excess of equity method investment in ordinary shares	(82)
Net unrealized fair value increase recognized in other comprehensive income	153		91
Accrued interest	68		48
Impairment			(81)
Foreign currency translation adjustments	(64)		(20)
Ending balance	¥ 2,607	$ 400	¥ 3,970

Fair Value Measurements - Summary of Assets Measured at Fair Value on a Non-Recurring Basis (Detail)
¥ in Millions, $ in Millions

3 Months Ended

12 Months Ended

Mar. 31, 2020

CNY (¥)

Mar. 31, 2020

USD ($)

Dec. 31, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Dec. 31, 2020

USD ($)

Mar. 31, 2020

USD ($)

Mainland China film group–Licensed copyrights as of March 31, 2020

¥ (390)

$ (60)

Produced Content [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Mainland China film group – Produced contents as of March 31, 2020

¥ (210)

$ (32)

Produced contents monetized on its own

^[1]

$ 6

Produced contents monetized on its own

(205)

(31)

Mainland China Film Group [Member] | Licensed Copyrights [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Mainland China film group–Licensed copyrights as of March 31, 2020

^[2]

7,186

$ 1,101

Mainland China film group–Licensed copyrights as of March 31, 2020

^[2]

(390)

(60)

Mainland China Film Group [Member] | Produced Content [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Mainland China film group – Produced contents as of March 31, 2020

^[2]

4,124

$ 632

Mainland China film group – Produced contents as of March 31, 2020

^[2]

(210)

$ (32)

Fair Value, Nonrecurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

^[3]

(1,862)

(285)

Long Term Investments

14,205

^[3]

¥ 22,778

2,177

^[3]

3,725

^[3]

571

^[3]

(230)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

(9,989)

Intangible Assets

Intangible assets

^[3]

$ 10

^[3]

Intangible assets

(350)

^[3]

$ (54)

^[3]

(406)

Fair Value, Inputs, Level 1 | Long Term Investments

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Inputs, Level 2 | Long Term Investments

367

14,105

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Inputs, Level 3 | Produced Content [Member]

358

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Produced contents monetized on its own

^[1]

Fair Value, Inputs, Level 3 | Mainland China Film Group [Member] | Licensed Copyrights [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Mainland China film group–Licensed copyrights as of March 31, 2020

^[2]

7,186

Fair Value, Inputs, Level 3 | Mainland China Film Group [Member] | Produced Content [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Mainland China film group – Produced contents as of March 31, 2020

^[2]

¥ 4,124

Fair Value, Inputs, Level 3 | Long Term Investments

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]