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Segment reporting
 12 Months Ended
Dec. 31, 2021
Segment reporting  
Segment reporting
33. 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 revenues 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.
As disclosed in Note 2(nn), beginning with the first quarter of 2021, the Group implemented certain segment reporting changes to better reflect its recently optimized organizational structure and business developments. As a result, the Group reports three segments, JD Retail, JD Logistics and New businesses. JD Cloud & AI businesses were deconsolidated from the Company from March 31, 2021, thus the operating results of JD Cloud & AI businesses were not included in New businesses segment from the second quarter of 2021.
The table below provides a summary of the Group’s operating segment results for the years ended December 31, 2019, 2020 and 2021, with prior periods’ segment information retrospectively recast to conform to current period presentation: 
 
    
For the year ended December 31,
  
    
2019
     
2020
     
2021
  
                      
    
(RMB in millions)
  
Net revenues:
                           
JD Retail
      545,281        693,965        866,303  
JD Logistics
      49,848        73,375        104,693  
New Businesses
      11,740        17,601        26,063  
Inter-segment(*)
      (31,127 )       (39,945 )       (46,043 ) 
    
 
 
     
 
 
     
 
 
  
Total segment net revenues
      575,742        744,996        951,016  
Unallocated items
      1,146        806        576  
    
 
 
     
 
 
     
 
 
  
Total consolidated net revenues
      576,888        745,802        951,592  
    
 
 
     
 
 
     
 
 
  
Operating income/(loss):
                           
JD Retail
      14,991        20,611        26,613  
JD Logistics
      (508 )       1,098        (1,827 ) 
New Businesses
      (1,730 )       (4,723 )       (10,600 ) 
Including: gain on sale of development properties (Note 19)
   
 
3,885
 
   
 
1,649
 
   
 
767
 
    
 
 
     
 
 
     
 
 
  
Total segment operating income
      12,753        16,986        14,186  
Unallocated items(**)
      (3,758 )       (4,643 )       (10,045 ) 
    
 
 
     
 
 
     
 
 
  
Total consolidated operating income
      8,995        12,343        4,141  
Total other income/(expense)
      4,698        38,476        (6,721 ) 
    
 
 
     
 
 
     
 
 
  
Income/(loss) before tax
      13,693        50,819        (2,580 ) 
    
 
 
     
 
 
     
 
 
  
 
(*)
The inter-segment eliminations mainly consist of revenues from supply chain solutions and logistics services provided by JD Logistics to JD Retail, and property leasing services provided by JD Property to JD Logistics.
(**)
A summary of unallocated items for the years presented is as foll
o
ws:
 
    
For the year ended December 31,
  
    
2019
     
2020
     
2021
  
                      
    
(RMB in millions)
  
Share-based compensation
      (3,695 )       (4,156 )       (9,134 ) 
Amortization of intangible assets resulting from assets and business acquisitions
      (885 )       (723 )       (940 ) 
Effects of business cooperation arrangements
      822        236        29  
    
 
 
     
 
 
     
 
 
  
Total
      (3,758 )       (4,643 )       (10,045 )