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Segment reporting
 12 Months Ended
Dec. 31, 2022
Segment reporting  
Segment reporting
30.
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(mm), beginning with the first quarter of 2021, the Group implemented certain segment reporting changes to better reflect its optimized organizational structure and business developments. As a result, the Group reported three segments, JD Retail, JD Logistics and New Businesses in 2021. 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 Group consolidated Dada since February 28, 2022 and reported the results of Dada as a new standalone segment. The Group also consolidated CNLP through JD Property since March 1, 2022 and reported the results of CNLP in the New Businesses segment. In addition, the Group has consolidated Deppon Holdco except the Excluded Business as defined in Note 7 since July 26, 2022 and reported the results of Deppon Holdco except Excluded Business as defined in Note 7 in the JD Logistics segment. As a result, the Group reported four segments, JD Retail, JD Logistics, Dada and New Businesses since 2022.
The table below provides a summary of the Group’s operating segment results for the years ended December 31, 2020, 2021 and 2022, with prior periods’ segment information retrospectively recast to conform to current period presentatio
n:
 
 
  
For the year ended December 31,
 
 
  
2020
 
  
2021
 
  
2022
 
 
  
 
 
  
 
 
  
 
 
 
  
(RMB in millions)
 
Net revenues:
  
  
  
JD Retail
      693,965        866,303        929,929  
JD Logistics
      73,375        104,693        137,402  
Dada
      —          —          8,030  
New Businesses
      17,601        26,063        21,779  
Inter-segment(*)
      (39,945 )       (46,043 )       (50,904 )
    
 
 
     
 
 
     
 
 
  
Total segment net revenues
      744,996        951,016        1,046,236  
Unallocated items
      806        576        —  
    
 
 
     
 
 
     
 
 
  
Total consolidated net revenues
      745,802        951,592        1,046,236  
    
 
 
     
 
 
     
 
 
  
Operating income/(loss):
                           
JD Retail
      20,611        26,613        34,852  
JD Logistics
      1,098        (1,827 )       528  
Dada
      —          —          (1,122 )
New Businesses
      (4,723 )       (10,600 )       (5,295 )
 
Including: gain on sale of development properties (Note 19)
   
 
1,649
 
   
 
767
 
   
 
1,379
 
    
 
 
     
 
 
     
 
 
  
Total segment operating income
      16,986        14,186        28,963  
Unallocated items(**)
      (4,643 )       (10,045 )       (9,240 )
    
 
 
     
 
 
     
 
 
  
Total consolidated operating income
      12,343        4,141        19,723  
Total other income/(expense)
      38,476        (6,721 )       (5,856 )
    
 
 
     
 
 
     
 
 
  
Income/(loss) before tax
      50,819        (2,580 )       13,867  
    
 
 
     
 
 
     
 
 
  
 
(*)
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 follows:
 
 
  
For the year ended December 31,
 
 
  
2020
 
  
2021
 
  
2022
 
 
  
 
 
  
 
 
  
 
 
 
  
(RMB in millions)
 
Share-based compensation
      (4,156 )       (9,134 )       (7,548 )
Amortization of intangible assets resulting from assets and business acquisitions
      (723 )       (940 )       (1,217 )
Effects of business cooperation arrangements
      236        29        (475 )
    
 
 
     
 
 
     
 
 
  
Total
      (4,643 )       (10,045 )       (9,240 )