17.

EARNINGS PER SHARE (“EPS”)

A reconciliation of net income attributable to Baidu, Inc. in the consolidated statements of comprehensive income to the numerator for the computation of basic and diluted per share for the years ended December 31, 2011, 2012 and 2013 is as follows:


	For the years ended December 31,
	2011		2012			2013			2013
	RMB		RMB			RMB			US$
	(In thousands)
Net income attributable to Baidu, Inc.		6,638,637		10,456,028			10,518,966			1,737,609
Adjustments to the carrying amount of redeemable noncontrolling interests		—		(22,143	)		(31,799	)		(5,253	)

Numerator for EPS computation		6,638,637		10,433,885			10,487,167			1,732,356

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 years ended December 31,
	2011				2012				2013
	Class A		Class B		Class A		Class B		Class A		Class A		Class B		Class B
	RMB		RMB		RMB		RMB		RMB		US$		RMB		US$
	(In thousands, except for number of shares, per share and per ADS data)
Earnings per share – basic:
Numerator
Allocation of net income attributable to Baidu, Inc.		5,153,755		1,484,882		8,106,219		2,327,666		8,175,647		1,350,520		2,311,520		381,836
Denominator
Weighted average ordinary shares outstanding		27,086,098		7,803,952		27,145,208		7,794,630		27,274,769		27,274,769		7,711,459		7,711,459

Denominator used for earnings per share		27,086,098		7,803,952		27,145,208		7,794,630		27,274,769		27,274,769		7,711,459		7,711,459
Earnings per share – basic		190.27		190.27		298.62		298.62		299.75		49.52		299.75		49.52


Earnings per share – diluted:
Numerator
Allocation of net income attributable to Baidu, Inc. for diluted computation		5,156,846		1,481,791		8,108,856		2,325,029		8,178,954		1,351,066		2,308,213		381,290
Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares		1,481,791		—		2,325,029		—		2,308,213		381,290		—		—

Allocation of net income attributable to Baidu, Inc.		6,638,637		1,481,791		10,433,885		2,325,029		10,487,167		1,732,356		2,308,213		381,290
Denominator
Weighted average ordinary shares outstanding		27,086,098		7,803,952		27,145,208		7,794,630		27,274,769		27,274,769		7,711,459		7,711,459
Conversion of Class B to Class A ordinary shares		7,803,952		—		7,794,630		—		7,711,459		7,711,459		—		—
Share-based awards		72,781		—		39,621		—		50,118		50,118		—		—

Denominator used for earnings per share		34,962,831		7,803,952		34,979,459		7,794,630		35,036,346		35,036,346		7,711,459		7,711,459
Earnings per share – diluted		189.88		189.88		298.29		298.29		299.32		49.44		299.32		49.44


Earnings per ADS:
Denominator used for earnings per ADS – basic		270,860,980				271,452,080				272,747,690		272,747,690
Denominator used for earnings per ADS –diluted		349,628,310				349,794,590				350,363,460		350,363,460
Earnings per ADS – basic		19.03				29.86				29.98		4.95

Earnings per ADS – diluted		18.99				29.83				29.93		4.94

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, 2011, 2012 and 2013 because those stock options and restricted shares were anti-dilutive for earnings per share for the respective years.