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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income (Loss) Before Income Taxes

Income (loss) before income taxes consists of:

		For the years ended December 31,
		2017				2018				2019				2019
		RMB				RMB				RMB				US$
		(In millions)
PRC			22,088				23,524				13,076				1,878
Non-PRC			(805	)			3,801				(13,416	)			(1,927	)
			21,283				27,325				(340	)			(49	)

Components of Income Tax

Income taxes consist of:

		For the years ended December 31,
		2017				2018				2019				2019
		RMB				RMB				RMB				US$
		(In millions)
Current income tax			4,224				6,184				3,564				511
Income tax refund due to reduced tax rate			(473	)			(680	)			(920	)			(132	)
Adjustments of deferred tax assets due to change in tax rates			7				—				9				1
Deferred income tax benefit			(763	)			(761	)			(705	)			(101	)
			2,995				4,743				1,948				279

Reconciliation of Effective Income Tax Provision of Tax Computed By Applying Statutory Income Tax Rate to Pre-Tax Income

The reconciliation of the actual income taxes to the amount of tax computed by applying the aforementioned statutory income tax rate to pre-tax income is as follows:

		For the years ended December 31,
		2017				2018				2019				2019
		RMB				RMB				RMB				US$
		(In millions, except for per share data)
Expected taxation at PRC statutory tax rate			5,321				6,831				(85	)			(12	)
Effect of differing tax rates in different jurisdictions			854				493				3,299				474
Non-taxable income			(913	)			(1,555	)			(419	)			(60	)
Non-deductible expenses			653				935				2,124				305
Research and development super-deduction			(905	)			(1,047	)			(1,245	)			(179	)
Effect of PRC preferential tax rates and tax holiday			(2,095	)			(2,250	)			(1,327	)			(191	)
Effect of tax rate changes on deferred taxes			7				—				9				1
Reversal of prior year’s EIT			(579	)			(616	)			(1,134	)			(163	)
PRC withholding tax			101				553				(224	)			(32	)
Addition to valuation allowance			551				1,399				950				136
Taxation for the year			2,995				4,743				1,948				279
Effective tax rate			14%				17%				(573%	)			(573%	)
Effect of preferential tax rates inside the PRC on basic earnings per Class A and Class B ordinary share			60.33				64.47				38.09				5.47

Tax Effects of Temporary Differences that Gave Rise to Deferred Tax Balances

The tax effects of temporary differences that gave rise to the deferred tax balances at December 31, 2018 and 2019 are as follows:

		As of December 31,
		2018				2019				2019
		RMB				RMB				US$
		(In millions)
Deferred tax assets:
Provision for doubtful receivables			252				332				48
Accrued expenses, payroll and others			4,284				4,820				692
Fixed assets depreciation			60				151				22
Net operating loss carry-forward			1,609				1,733				249
Less: valuation allowance			(3,881	)			(4,843	)			(696	)
Deferred tax assets, net			2,324				2,193				315

		As of December 31,
		2018				2019				2019
		RMB				RMB				US$
		(In millions)
Deferred tax liabilities:
Long-lived assets arising from acquisitions			360				275				40
Withholding tax on PRC subsidiaries’ undistributed earnings			619				1,621				233
Tax on capital gains			2,778				1,159				166
Other			342				218				31
			4,099				3,273				470

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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-SubTopic 10
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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