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Fair value measurement (Tables) | 12 Months Ended
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Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Table of assets and liabilities that are measured at fair value on a recurring basis and categorized using the fair value hierarchy | The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis and are categorized under the fair value hierarchy:
|  | As of March 31, 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |
|  | (in millions) |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Time deposits and certificate of deposits (i) |  |  | — |  |  |  | 339,730 |  |  |  | — |  |  |  | 339,730 |
Wealth management products (i) |  |  | — |  |  |  | 20,784 |  |  |  | — |  |  |  | 20,784 |
Marketable debt securities (i) |  |  | — |  |  |  | 8,591 |  |  |  | — |  |  |  | 8,591 |
Restricted cash and escrow receivables |  |  | 38,299 |  |  |  | — |  |  |  | — |  |  |  | 38,299 |
Listed equity securities (ii) |  |  | 67,181 |  |  |  | — |  |  |  | — |  |  |  | 67,181 |
Convertible and exchangeable bonds (ii) |  |  | — |  |  |  | 147 |  |  |  | 3,197 |  |  |  | 3,344 |
Option agreements (iii) |  |  | — |  |  |  | 90 |  |  |  | 165 |  |  |  | 255 |
Others (vi) |  |  | — |  |  |  | 2,255 |  |  |  | 5,593 |  |  |  | 7,848 |
|  |  | 105,480 |  |  |  | 371,597 |  |  |  | 8,955 |  |  |  | 486,032 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration in relation to investments and acquisitions (iv) |  |  | — |  |  |  | — |  |  |  | 713 |  |  |  | 713 |
Others (iv) |  |  | — |  |  |  | 24 |  |  |  | 801 |  |  |  | 825 |
|  |  | — |  |  |  | 24 |  |  |  | 1,514 |  |  |  | 1,538 |
12. Fair value measurement (Continued)
|  | As of March 31, 2025 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |
|  | (in millions) |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Time deposits and certificate of deposits (i) |  |  | — |  |  |  | 357,569 |  |  |  | — |  |  |  | 357,569 |
Wealth management products (i) |  |  | — |  |  |  | 83,144 |  |  |  | — |  |  |  | 83,144 |
Marketable debt securities (i) |  |  | — |  |  |  | 16,129 |  |  |  | — |  |  |  | 16,129 |
Restricted cash and escrow receivables |  |  | 43,781 |  |  |  | — |  |  |  | — |  |  |  | 43,781 |
Listed equity securities (ii)(v) |  |  | 67,712 |  |  |  | 9,918 |  |  |  | — |  |  |  | 77,630 |
Convertible and exchangeable bonds (ii) |  |  | — |  |  |  | 145 |  |  |  | 818 |  |  |  | 963 |
Option agreements (iii) |  |  | — |  |  |  | 87 |  |  |  | 814 |  |  |  | 901 |
Deferred consideration (iii) |  |  | — |  |  |  | — |  |  |  | 3,039 |  |  |  | 3,039 |
Others (vi) |  |  | — |  |  |  | 1,329 |  |  |  | 6,047 |  |  |  | 7,376 |
|  |  | 111,493 |  |  |  | 468,321 |  |  |  | 10,718 |  |  |  | 590,532 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration in relation to investments and acquisitions (iv) |  |  | — |  |  |  | — |  |  |  | 484 |  |  |  | 484 |
Others (iv) |  |  | — |  |  |  | 389 |  |  |  | 924 |  |  |  | 1,313 |
|  |  | — |  |  |  | 389 |  |  |  | 1,408 |  |  |  | 1,797 |
(i) Included in short-term investments and equity securities and other investments on the consolidated balance sheets. (ii) Included in equity securities and other investments on the consolidated balance sheets. (iii) Included in prepayments, receivables and other assets on the consolidated balance sheets. (iv) Included in accrued expenses, accounts payable and other liabilities on the consolidated balance sheets. (v) As of March 31, 2025, listed equity securities with fair value of RMB 11,921 million were subject to contractual sale restrictions. (vi) Others primarily represent other investments with underlying assets measured at fair value.
Schedule of rolling forward of convertible bonds categorized within Level 3 under the fair value hierarchy |
|  | Amounts |
|  | RMB |
|  | (in millions) |
Balance as of March 31, 2023 |  |  | 6,392 |
Additions |  |  | 730 |
Net decrease in fair value |  |  | (1,243 | )
Disposal |  |  | (2,645 | )
Conversion |  |  | (107 | )
Foreign currency translation adjustments |  |  | 70 |
Balance as of March 31, 2024 |  |  | 3,197 |
Additions |  |  | 311 |
Net increase in fair value |  |  | 63 |
Disposal |  |  | (1,767 | )
Conversion |  |  | (985 | )
Foreign currency translation adjustments |  |  | (1 | )
Balance as of March 31, 2025 |  |  | 818 |
Schedule of rolling forward of deferred consideration categorized within Level 3 under the fair value hierarchy |
|  | Amounts |
|  | RMB |
|  | (in millions) |
Balance as of March 31, 2024 |  |  | — |
Additions |  |  | 3,022 |
Net increase in fair value |  |  | 14 |
Foreign currency translation adjustments |  |  | 3 |
Balance as of March 31, 2025 |  |  | 3,039 |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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