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Earnings Per Share ("EPS")
 12 Months Ended
Dec. 31, 2012
Earnings Per Share ("EPS")
17.

EARNINGS PER SHARE (“EPS”)

On April 28, 2010, the Company announced a change in the ratio of its American depositary shares (“ADSs”) representing Class A ordinary shares from one ADS for one share to ten ADSs for one share, effective on May 12, 2010. For Baidu’s ADS holders, this ratio change has the same effect as a ten-for-one ADS split.

The following table sets forth the computation of basic and diluted net income attributable to Baidu, Inc., after accretion of redeemable noncontrolling interests at the amount of RMB22.14 million (Note 15) in year 2012 (nil in year 2011 and year 2010 respectively), per share for Class A and Class B ordinary shares. (Amounts in thousands of RMB, and in thousands of US$, except for number of shares, per share and per ADS data)

 

    For the years ended December 31,  
    2010     2011     2012  
    Class A     Class B     Class A     Class B     Class A     Class A     Class B     Class B  
    RMB     RMB     RMB     RMB     RMB     US$     RMB     US$  

Earnings per share – basic:

                

Numerator

                

Allocation of net income attributable to Baidu, Inc.

     2,690,712        834,456        5,153,755        1,484,882        8,106,219        1,301,138        2,327,666        373,616   

Denominator

                

Weighted average ordinary shares outstanding

     26,566,454        8,238,907        27,086,098        7,803,952        27,145,208        27,145,208        7,794,630        7,794,630   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Denominator used for earnings per share

     26,566,454        8,238,907        27,086,098        7,803,952        27,145,208        27,145,208        7,794,630        7,794,630   

Earnings per share - basic

     101.28        101.28        190.27        190.27        298.62        47.93        298.62        47.93   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings per share – diluted:

                

Numerator

                

Allocation of net income attributable to Baidu, Inc. for diluted computation

     2,693,365        831,803        5,156,846        1,481,791        8,108,856        1,301,561        2,325,029        373,193   

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

     831,803        —        1,481,791        —          2,325,029        373,193        —          —     
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Allocation of net income attributable to Baidu, Inc.

     3,525,168        831,803        6,638,637        1,481,791        10,433,885        1,674,754        2,325,029        373,193   

Denominator

                

Weighted average ordinary shares outstanding

     26,566,454        8,238,907        27,086,098        7,803,952        27,145,208        27,145,208        7,794,630        7,794,630   

Conversion of Class B to Class A ordinary shares

     8,238,907        —          7,803,952        —          7,794,630        7,794,630        —          —     

Share-based awards

     112,474        350        72,781        —          39,621        39,621        —          —     
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Denominator used for earnings per share

     34,917,835        8,239,257        34,962,831        7,803,952        34,979,459        34,979,459        7,794,630        7,794,630   

Earnings per share - diluted

     100.96        100.96        189.88        189.88        298.29        47.88        298.29        47.88   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings per ADS:

                

Denominator used for earnings per ADS - basic

     265,664,540          270,860,980          271,452,080        271,452,080       

Denominator used for earnings per ADS - diluted

     349,178,350          349,628,310          349,794,590        349,794,590       

Earnings per ADS - basic

     10.13          19.03          29.86        4.79       
 

 

 

      

 

 

      

 

 

    

 

 

      

Earnings per ADS - diluted

     10.10          18.99          29.83        4.79       
 

 

 

      

 

 

      

 

 

    

 

 

      

 

The Company did not include certain stock options and restricted shares in the computation of diluted earnings per share for the years ended December 31, 2010, 2011 and 2012 because to do so would have been anti-dilutive for earnings per share for the respective years. 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.