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Earnings Per Share ("EPS")
 9 Months Ended
Sep. 30, 2012
Earnings Per Share ("EPS")

12. EARNINGS PER SHARE (“EPS”)

The following table sets forth the computation of basic and diluted net income attributable to Baidu, Inc. per share for Class A and Class B ordinary shares:

 

     For the nine months ended  
     September 30, 2011      September 30, 2012  
     Class A      Class B      Class A      Class A      Class B      Class B  
     RMB      RMB      RMB      US$      RMB      US$  

Earnings per share — basic:

                  

Numerator

                  

Allocation of net income attributable to
Baidu, Inc.

      3,559,218         1,025,749         5,932,166         943,891         1,706,237         271,486   

Denominator

                  

Weighted average ordinary shares outstanding

      27,079,835         7,804,274         27,129,111         27,129,111         7,803,000         7,803,000   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Denominator used for earnings per share

      27,079,835         7,804,274         27,129,111         27,129,111         7,803,000         7,803,000   

Earnings per share — basic

      131.43         131.43         218.66         34.79         218.66         34.79   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per share — diluted:

                  

Numerator

                  

Allocation of net income attributable to Baidu, Inc.

      3,561,491         1,023,476         5,934,416         944,249         1,703,987         271,128   

Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares

      1,023,476         —           1,703,987         271,128         —           —     

Allocation of net income attributable to Baidu, Inc.

      4,584,967         1,023,476         7,638,403         1,215,377         1,703,987         271,128   

Denominator

                  

Weighted average ordinary shares outstanding

      27,079,835         7,804,274         27,129,111         27,129,111         7,803,000         7,803,000   

Conversion of Class B to Class A ordinary shares

      7,804,274         —           7,803,000         7,803,000         —           —     

Share-based awards

      77,471         —           46,130         46,130         —           —     
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Denominator used for earnings per share

      34,961,580         7,804,274         34,978,241         34,978,241         7,803,000         7,803,000   

Earnings per share — diluted

      131.14         131.14         218.38         34.75         218.38         34.75   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per ADS

                  

Denominator used for earnings per ADS — basic

      270,798,350            271,291,110         271,291,110         

Denominator used for earnings per ADS — diluted

      349,615,800            349,782,410         349,782,410         

Earnings per ADS — basic

      13.14            21.87         3.48         
  

 

 

        

 

 

     

 

 

        

Earnings per ADS — diluted

      13.11            21.84         3.48         
  

 

 

        

 

 

     

 

 

        

The Company did not include certain stock options and restricted shares in the computation of diluted earnings per share for the nine-month periods ended September 30, 2011 and 2012 because to do so would have been anti-dilutive for earnings per share for the respective periods. These stock options excluded in the computation of diluted earnings per share for the respective periods, however, could potentially dilute basic earnings per share in the future.

The Company considered the impact of accretion of the redeemable noncontrolling interests in the calculation of income available to the Company used in the earnings per share calculation, without adjusting net income attributable to the Company presented in the unaudited condensed interim consolidated statements of comprehensive income.