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Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
CNY (¥)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
CNY (¥)
Dec. 31, 2020
CNY (¥)
Cash flows from operating activities:        
Net income ¥ 19,843,290 $ 2,877,007 ¥ 16,976,190 ¥ 12,330,235
Net income from discontinued operations (624,864) (90,597)    
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 2,858,209 414,401 3,275,727 3,457,782
Fair value change of equity security investments 3,104,336 450,086 (471,880) (720,565)
Impairment losses on investments and other intangible assets 300,249 43,532 100,424 58,395
Share-based compensation cost 3,174,160 460,211 3,041,492 2,663,489
Allowance for expected credit losses 61,393 8,901 265,930 40,600
Losses on disposal of property, equipment and software 3,620 525 54,052 6,482
Unrealized exchange losses/ (gains) (1,604,260) (232,596) 488,604 3,102,492
Gains on disposal of long-term investments, business and subsidiaries (1,791,355) (259,722) (186,920) (27,063)
Deferred income taxes 489,670 70,995 407,948 88,179
Share of results on equity method investees and revaluation results from previously held equity interest (1,259,941) (182,674) (1,573,068) (302,602)
Fair value changes of short-term investments (342,642) (49,678) (639,757) (580,732)
Changes in operating assets and liabilities:        
Accounts receivable 554,340 80,372 (1,186,586) (530,413)
Inventories (27,613) (4,004) (343,587) 29,699
Prepayments and other assets 731,100 106,000 640,349 (13,554)
Accounts payable 447,666 64,905 (155,262) (86,352)
Salary and welfare payables 424,513 61,549 505,334 528,927
Taxes payable (917,614) (133,042) 255,060 1,126,648
Contract liabilities 385,396 55,877 1,351,261 2,342,916
Accrued liabilities and other payables 1,899,580 275,413 2,121,416 1,373,608
Net cash provided by operating activities 27,709,233 4,017,461 24,926,727 24,888,171
Cash flows from investing activities:        
Purchase of property, equipment and software (2,100,264) (304,510) (1,601,830) (1,055,572)
Proceeds from sale of property, equipment and software 41,467 6,012 71,524 17,540
Purchase of intangible assets, content and licensed copyrights (543,220) (78,759) (1,508,179) (2,234,915)
Net change of short-term investments with terms of three months or less 776,357 112,561 3,694,890 (1,655,930)
Purchase of short-term investments with terms over three months (5,950,000) (862,669) (15,285,000) (19,905,000)
Proceeds from maturities of short-term investments with terms over three months 10,175,160 1,475,260 13,235,845 24,126,210
Investment in equity method investees (705,907) (102,347) (1,124,429) (345,662)
Investment in other equity investments and acquisition of subsidiaries (4,423,773) (641,387) (5,417,138) (2,062,030)
Proceeds from disposal of long-term investments, businesses and subsidiaries 2,411,070 349,572 1,115,457 722,076
Placement/rollover of matured time deposits (98,973,884) (14,349,864) (81,298,080) (91,518,767)
Proceeds from maturities of time deposits 92,247,046 13,374,564 81,307,297 64,880,317
Change in other long-term assets (323,779) (46,944) (268,651) (160,674)
Net cash used in investing activities (7,369,727) (1,068,511) (7,078,294) (29,192,407)
Cash flows from financing activities:        
Net changes from short-term loans with terms of three months or less (1,274,043) (184,719) (442,207) 3,723,109
Proceed of loans with terms over three months 6,392,695 926,854 4,447,586 1,136,495
Payment of loans with terms over three months (273,639) (39,674) (2,297,135) (818,539)
Dividends paid to shareholders (6,723,667) (974,840) (3,508,377) (4,280,462)
Net amounts received from/(paid for) NetEase's issuance of shares in Hong Kong     (13,800) 21,911,815
Repurchase of redeemable noncontrolling interests       (462,650)
Net amounts received/ (paid) related to capital contribution from or repurchase of noncontrolling interests and redeemable noncontrolling interests shareholders (30,921) (4,483) 2,870,147 194,307
Dividends paid to noncontrolling interest shareholders     (731,250)  
Cash paid for repurchase of NetEase's ADSs/purchase of subsidiaries' ADSs and shares (8,328,124) (1,207,464) (12,910,533) (11,490,988)
Net cash provided by/(used in) financing activities (10,237,699) (1,484,326) (12,585,569) 9,913,087
Effect of exchange rate changes on cash, cash equivalents and restricted cash held in foreign currencies 110,403 16,007 (55,354) 161,894
Net increase in cash, cash equivalents and restricted cash 10,212,210 1,480,631 5,207,510 5,770,745
Cash, cash equivalents and restricted cash, at the beginning of the year 17,376,115 2,519,300 12,168,605 6,397,860
Cash, cash equivalents and restricted cash, at end of the year 27,588,325 3,999,931 17,376,115 12,168,605
Supplemental disclosures of cash flow information:        
Cash paid for income taxes, net 5,092,391 738,327 3,547,299 2,046,119
Cash paid for interest expenses 588,381 85,307 187,628 246,051
Supplemental schedule of non-cash investing and financing activities:        
Fixed asset purchases financed by accounts payable and accrued liabilities ¥ 689,093 $ 99,909 ¥ 698,192 ¥ 337,333