Goodwill

12 Months Ended

Dec. 31, 2023

14.

Goodwill

The changes in the carrying amount of g

odwill are as follows:


	JD Retail			JD Logistics		Dada			New Businesses			Total

	(RMB in millions)
Transaction in 2021
Additions		1,529			—		—			—			1,529
Balance as of December 31, 2021
Goodwill		10,807			1,633		—			2,593			15,033
Accumulated impairment loss		(7	)		—		—			(2,593	)		(2,600	)

		10,800			1,633		—			—			12,433

Transaction in 2022
Additions		1,399			5,350		3,143			1,586			11,478
Disposal of a subsidiary		(788	)		—		—			—			(788	)
Balance as of December 31, 2022
Goodwill		11,418			6,983		3,143			4,179			25,723
Accumulated impairment loss		(7	)		—		—			(2,593	)		(2,600	)

		11,411			6,983		3,143			1,586			23,123

Transaction in 2023
Impairment		—			—		(3,143	)		—			(3,143	)
Balance as of December 31, 2023
Goodwill		11,418			6,983		3,143			4,179			25,723
Accumulated impairment loss		(7	)		—		(3,143	)		(2,593	)		(5,743	)

		11,411			6,983		—			1,586			19,980

impairment loss of goodwill was recorded for the years ended December 31, 2021 and 2022, respectively. For the year ended December 31, 2023, considered duration and severity of the decline of Dada’s stock price, the Company

assessed

that it is more likely than not that the fair value of Dada reporting unit is less than its carrying amount and performed quantitative impairment test on Dada reporting unit. The fair value of Dada was determined based on the discounted cash flow analysis using the following significant assumptions (a) internal cash flows forecasts including expected revenue growth, operating margins and estimated capital needs, (b) an estimated terminal value using a long-term future growth rate; and (c) a discount rate. As a result, the fair value of Dada reporting unit was estimated to be below the carrying value and the Group recorded a

RMB3,143

million goodwill impairment

for

the year ended December 31, 2023.