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Share-Based Awards Plan (Tables)
12 Months Ended
Dec. 31, 2019
Total Share-Based Compensation Cost Recognized
The following table summarizes the total share-based compensation cost recognized by the Group:
 
For the years ended December 31,
 
 
2017
 
 
2018
 
 
2019
 
 
2019
 
 
RMB
 
 
RMB
 
 
RMB
 
 
US$
 
 
(In millions)
 
Expensed as cost of revenues
   
183
     
224
     
327
     
47
 
Expensed as selling, general and administrative
   
973
     
1,725
     
1,768
     
254
 
Expensed as research and development
   
2,088
     
2,727
     
3,531
     
507
 
                                 
   
3,244
     
4,676
     
5,626
     
808
 
                                 
Baidu  
Option Activity
The following table summarizes the option activity for the year ended December 31, 2019:
 
Number of 
shares
 
 
Weighted average
exercise price
(US$)
 
 
Weighted
average
remaining
contractual life
(Years)
 
 
Aggregate intrinsic
value (US$ in
millions)
 
Share options
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding, December 31, 2018
   
225,684
     
1,751
     
7
     
40
 
Granted
   
231,152
     
980
     
            
                    
Exercised
   
(11,849
   
221
                 
Forfeited/Cancelled
   
(71,806
   
1,715
                 
                                 
Outstanding, December 31, 2019
   
373,181
     
1,329
     
8
     
72
 
                                 
Vested and expected to vest
at December 31, 2019
   
297,956
     
1,373
     
8
     
53
 
                                 
Exercisable at December 31, 2019
   
122,933
     
1,777
     
5
     
7
 
                                 
Assumptions Used to Estimate Fair Values of Share Options Granted
The following table presents the assumptions used to estimate the fair values of the share options granted in the years presented:
 
For the years ended December 31
 
 
2017
 
 
2018
 
 
2019
 
Risk-free interest rate
   
1.81%~2.08
%    
2.57
%    
1.58%~2.49
%
Dividend yield
   
—  
     
—  
     
—  
 
Expected volatility range
   
35.99%~38.41
%    
34.47%~35.36
%    
34.62%~35.14
%
Expected life (in years)
   
4.99~6.01
     
4.89~6.25
     
5.83~6.03
 
Restricted Shares Activity
Restricted Shares activity for the year ended December 31, 2019 was as follows:
 
Number of shares
 
 
Weighted average grant
date fair value (US$)
 
Restricted Shares
 
 
 
 
 
 
Unvested, December 31, 2018
   
791,444
     
2,060
 
Granted
   
1,122,857
     
1,276
 
Vested
   
(300,614
   
1,972
 
Forfeited/Cancelled
   
(193,633
   
1,860
 
                 
Unvested, December 31, 2019
   
1,420,054
     
1,486
 
                 
iQIYI  
Option Activity
The following table sets forth the summary of employee option activity under the iQIYI’s 2010 Plan:
 
Number of
shares
 
 
Weighted average
exercise price
(
US$
)
 
 
Weighted
average
remaining
contractual life
(Years)
 
 
Aggregate intrinsic
value ( US$ in
millions)
 
Outstanding, December 31, 2018
   
380,579,031
     
0.47
     
9
     
630
 
Granted
   
94,625,573
     
0.51
     
            
                    
Forfeited
   
(8,855,266
   
0.51
                 
Exercised
   
(59,436,720
   
0.37
                 
                                 
Outstanding, December 31, 2019
   
406,912,618
     
0.48
     
7
     
1,031
 
                                 
Vested and expected to vest
at December 31, 2019
   
385,280,004
     
0.48
     
7
     
977
 
                                 
Exercisable at December 31, 2019
   
211,537,760
     
0.45
     
6
     
542
 
                                 
Total Share-Based Compensation Cost Recognized
The following table summarizes the share-based compensation cost recognized by iQIYI:
 
For the years ended December 31,
 
 
2017
 
 
2018
 
 
2019
 
 
2019
 
 
RMB
 
 
RMB
 
 
RMB
 
 
US$
 
 
(In millions)
 
Expensed as cost of revenues
   
35
     
83
     
171
     
25
 
Expensed as selling, general and administrative
   
131
     
369
     
676
     
97
 
Expensed as research and development
   
67
     
104
     
238
     
34
 
 
 
 
233
 
 
 
556
 
 
 
1,085
 
 
 
156