Segment reporting

12 Months Ended

Dec. 31, 2019

. Segment reporting

The Group derives the results of the segments directly from its internal management reporting system. The CODM measures the performance of each segment based on metrics of revenue

and earnings from operations and uses these results to evaluate the performance of, and to allocate resources to, each of the segments. The Group currently does not allocate assets, share-based compensation expenses and certain operating expenses to its segments, as the CODM does not use such information to allocate resources to or evaluate the performance of the operating segments. As most of the Group’s long-lived assets are located in the PRC and most of the Group’s revenues are derived from the PRC, no geographical information is presented.

The table below provides a summary of the Group’s operating segment results for the years ended December 31, 2017, 2018 and 2019.


	For the year ended December 31,
	2017			2018			2019
	RMB			RMB			RMB
Net revenues:
JD Retail		356,020,374			447,502,173			552,245,141
New B usinesses		6,021,508			14,665,281			23,932,278
Inter-segment(*)		(546,667	)		(1,103,943	)		(435,364	)

Total segment net revenues		361,495,215			461,063,511			575,742,055
Unallocated items		836,539			956,248			1,146,429

Total consolidated net revenues		362,331,754			462,019,759			576,888,484

Operating income/(loss):
JD Retail		4,956,264			7,049,222			13,775,339
New B usinesses		(2,070,668	)		(5,136,657	)		(1,022,281	)
Including: gain on sale of development properties (note 19)		—			—			3,884,709
Total segment operating income		2,885,596			1,912,565			12,753,058
Unallocated items(**)		(3,721,072	)		(4,531,696	)		(3,758,178	)

Total consolidated operating income/( loss )		(835,476	)		(2,619,131	)		8,994,880
Total other income		956,436			245,453			4,697,652

Income/(loss) before tax		120,960			(2,373,678	)		13,692,532

(*)	The inter-segment eliminations mainly consist of services provided by JD Retail to overseas business, and certain services provided by JD Logistics to the vendors of JD Retail, which the Group records as a deduction of cost of revenues at the consolidated level.

(**)	A summary of unallocated items for the years presented is as follows:


	For the year ended December 31,
	2017			2018			2019
	RMB			RMB			RMB
Share-based compensation		(2,780,062	)		(3,659,989	)		(3,694,955	)
Amortization of intangible assets resulting from assets and business acquisitions		(1,777,549	)		(1,805,638	)		(885,385	)
Effects of business cooperation arrangements		836,539			956,248			822,162
Impairment of goodwill and intangible assets		—			(22,317	)		—
Total		(3,721,072	)		(4,531,696	)		(3,758,178	)