Earnings Per Share ("EPS") (Tables)

9 Months Ended

Sep. 30, 2018

Reconciliation of Net Income to Numerator for Computation of Basic and Diluted Earnings Per Share

A reconciliation of net income attributable to Baidu, Inc. in the unaudited interim condensed consolidated statements of comprehensive income to the numerator for the computation of basic and diluted earnings per share for the three-month periods ended September 30, 2017 and 2018 is as follows:


	For the three months ended
	September 30, 2017		September 30, 2018		September 30, 2018
	RMB		RMB		US$
	(In millions)
	(unaudited)
Net income attributable to Baidu, Inc.		7,949		12,396		1,805
Accretion of the redeemable noncontrolling interests		466		—		—

Net income available to ordinary shareholders		8,415		12,396		1,805

A reconciliation of net income attributable to Baidu, Inc. in the unaudited interim condensed consolidated statements of comprehensive income to the numerator for the computation of basic and diluted earnings per share for the nine-month periods ended September 30, 2017 and 2018 is as follows:


	For the nine months ended
	September 30, 2017			September 30, 2018			September 30, 2018
	RMB			RMB			US$
	(In millions)
	(unaudited)
Net income attributable to Baidu, Inc.		14,141			25,492			3,711
Accretion of the redeemable noncontrolling interests		(173	)		(128	)		(19	)

Net income available to ordinary shareholders		13,968			25,364			3,692

Computation of Basic and Diluted Net Income Per Class A and Class B Ordinary Share

The following table sets forth the computation of basic and diluted net income attributable to Baidu, Inc. per Class A and Class B ordinary share for the three-month periods ended September 30, 2017 and 2018


	For the three months ended
	September 30, 2017				September 30, 2018
	Class A		Class B		Class A		Class A		Class B		Class B
	RMB		RMB		RMB		US$		RMB		US$
	(In millions, except for number of shares, per share and per ADS data)
	(unaudited)
Earnings per share — basic:
Numerator
Allocation of net income available to ordinary shareholders		6,666		1,749		9,838		1,432		2,558		373
Denominator
Weighted average ordinary shares outstanding		27,489,083		7,214,841		27,690,479		27,690,479		7,201,254		7,201,254

Denominator used for earnings per share		27,489,083		7,214,841		27,690,479		27,690,479		7,201,254		7,201,254
Earnings per share — basic		242.48		242.48		355.27		51.73		355.27		51.73

Earnings per share — diluted:
Numerator
Allocation of net income available to ordinary shareholders		6,680		1,735		9,857		1,435		2,539		370
Reallocation of net income available to ordinary shareholders as a result of conversion of Class B to Class A shares		1,735		—		2,539		370		—		—

Allocation of net income available to ordinary shareholders		8,415		1,735		12,396		1,805		2,539		370
Denominator
Weighted average ordinary shares outstanding		27,489,083		7,214,841		27,690,479		27,690,479		7,201,254		7,201,254
Conversion of Class B to Class A ordinary shares		7,214,841		—		7,201,254		7,201,254		—		—
Share-based awards		287,253		—		267,014		267,014		—		—

Denominator used for earnings per share		34,991,177		7,214,841		35,158,747		35,158,747		7,201,254		7,201,254
Earnings per share — diluted		240.49		240.49		352.57		51.34		352.57		51.34

Earnings per ADS:
Denominator used for earnings per ADS — basic		274,890,830				276,904,790		276,904,790
Denominator used for earnings per ADS — diluted		349,911,770				351,587,470		351,587,470
Earnings per ADS — basic		24.25				35.53		5.17

Earnings per ADS — diluted		24.05				35.26		5.13

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-month periods ended September 30, 2017 and 2018:


	For the nine months ended
	September 30, 2017				September 30, 2018
	Class A		Class B		Class A		Class A		Class B		Class B
	RMB		RMB		RMB		US$		RMB		US$
	(In millions, except for number of shares, per share and per ADS data)
	(unaudited)
Earnings per share - basic:
Numerator
Allocation of net income available to ordinary shareholders		11,038		2,930		20,130		2,930		5,234		762
Denominator
Weighted average ordinary shares outstanding		27,425,010		7,280,283		27,693,504		27,693,504		7,201,254		7,201,254

Denominator used for earnings per share		27,425,010		7,280,283		27,693,504		27,693,504		7,201,254		7,201,254
Earnings per share - basic		402.48		402.48		726.87		105.83		726.87		105.83

Earnings per share - diluted:
Numerator
Allocation of net income available to ordinary shareholders		11,054		2,914		20,177		2,937		5,187		755
Reallocation of net income available to ordinary shareholders as a result of conversion of Class B to Class A shares		2,914		—		5,187		755		—		—

Allocation of net income available to ordinary shareholders		13,968		2,914		25,364		3,692		5,187		755
Denominator
Weighted average ordinary shares outstanding		27,425,010		7,280,283		27,693,504		27,693,504		7,201,254		7,201,254
Conversion of Class B to Class A ordinary shares		7,280,283		—		7,201,254		7,201,254		—		—
Share-based awards		189,712		—		318,479		318,479		—		—

Denominator used for earnings per share		34,895,005		7,280,283		35,213,237		35,213,237		7,201,254		7,201,254
Earnings per share - diluted		400.29		400.29		720.30		104.88		720.30		104.88

Earnings per ADS:
Denominator used for earnings per ADS - basic		274,250,100				276,935,040		276,935,040
Denominator used for earnings per ADS - diluted		348,950,050				352,132,370		352,132,370
Earnings per ADS - basic		40.25				72.69		10.58

Earnings per ADS - diluted		40.03				72.03		10.49