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Earnings Per Share | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share |
22. | EARNINGS PER SHARE
Following the Share Subdivision as detailed in Notes 1, each ordinary share was subdivided into eighty ordinary shares and each ADS represents eight Class A ordinary shares. 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 earnings per share for the years ended December 31, 2021, 2022 and 2023 is as follows:
|  | For the years ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
|  | (In millions, including number of shares, except for per share data) |
Net income attributable to Baidu, Inc. |  |  | 10,226 |  |  |  | 7,559 |  |  |  | 20,315 |  |  |  | 2,861 |
Accretion of the redeemable noncontrolling interests |  |  | (350 | ) |  |  | (591 | ) |  |  | (717 | ) |  |  | (101 | )
Numerator for basic EPS computation |  |  | 9,876 |  |  |  | 6,968 |  |  |  | 19,598 |  |  |  | 2,760 |
Impact of diluted securities of subsidiaries and equity method investees |  |  | — |  |  |  | — |  |  |  | (44 | ) |  |  | (6 | )
Numerator for diluted EPS computation |  |  | 9,876 |  |  |  | 6,968 |  |  |  | 19,554 |  |  |  | 2,754 |
The following table sets forth the computation of basic and diluted earnings per Class A and Class B ordinary share and basic and diluted earnings per ADS:
|  | For the years ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |  |  | 2023 |
|  | 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 millions, including number of shares and ADS, except for per share and per ADS data) |
Earnings per share—basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allocation of net income attributable to Baidu, Inc. |  |  | 7,871 |  |  |  | 2,005 |  |  |  | 5,590 |  |  |  | 1,378 |  |  |  | 15,905 |  |  |  | 2,240 |  |  |  | 3,693 |  |  |  | 520 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average ordinary shares outstanding |  |  | 2,198 |  |  |  | 560 |  |  |  | 2,232 |  |  |  | 550 |  |  |  | 2,278 |  |  |  | 2,278 |  |  |  | 529 |  |  |  | 529 |
Denominator used for basic EPS |  |  | 2,198 |  |  |  | 560 |  |  |  | 2,232 |  |  |  | 550 |  |  |  | 2,278 |  |  |  | 2,278 |  |  |  | 529 |  |  |  | 529 |
Earnings per share—basic |  |  | 3.58 |  |  |  | 3.58 |  |  |  | 2.50 |  |  |  | 2.50 |  |  |  | 6.98 |  |  |  | 0.98 |  |  |  | 6.98 |  |  |  | 0.98 |
Earnings per share—diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allocation of net income attributable to Baidu, Inc. for diluted computation |  |  | 7,910 |  |  |  | 1,966 |  |  |  | 5,604 |  |  |  | 1,364 |  |  |  | 15,909 |  |  |  | 2,241 |  |  |  | 3,645 |  |  |  | 513 |
Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares |  |  | 1,966 |  |  |  | — |  |  |  | 1,364 |  |  |  | — |  |  |  | 3,645 |  |  |  | 513 |  |  |  | — |  |  |  | — |
Numerator for diluted EPS calculation |  |  | 9,876 |  |  |  | 1,966 |  |  |  | 6,968 |  |  |  | 1,364 |  |  |  | 19,554 |  |  |  | 2,754 |  |  |  | 3,645 |  |  |  | 513 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average ordinary shares outstanding |  |  | 2,198 |  |  |  | 560 |  |  |  | 2,232 |  |  |  | 550 |  |  |  | 2,278 |  |  |  | 2,278 |  |  |  | 529 |  |  |  | 529 |
Conversion of Class B to Class A ordinary shares |  |  | 560 |  |  |  | — |  |  |  | 550 |  |  |  | — |  |  |  | 529 |  |  |  | 529 |  |  |  | — |  |  |  | — |
Share-based awards |  |  | 56 |  |  |  | — |  |  |  | 27 |  |  |  | — |  |  |  | 30 |  |  |  | 30 |  |  |  | — |  |  |  | — |
Denominator used for diluted EPS |  |  | 2,814 |  |  |  | 560 |  |  |  | 2,809 |  |  |  | 550 |  |  |  | 2,837 |  |  |  | 2,837 |  |  |  | 529 |  |  |  | 529 |
Earnings per share—diluted |  |  | 3.51 |  |  |  | 3.51 |  |  |  | 2.48 |  |  |  | 2.48 |  |  |  | 6.89 |  |  |  | 0.97 |  |  |  | 6.89 |  |  |  | 0.97 |
Earnings per ADS (1 ADS equals 8 Class A ordinary shares): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Denominator used for earnings per ADS—basic |  |  | 275 |  |  |  |  |  |  |  | 279 |  |  |  |  |  |  |  | 285 |  |  |  | 285 |  |  |  |  |  |  |  |  |
Denominator used for earnings per ADS—diluted |  |  | 352 |  |  |  |  |  |  |  | 351 |  |  |  |  |  |  |  | 355 |  |  |  | 355 |  |  |  |  |  |  |  |  |
Earnings per ADS—basic |  |  | 28.64 |  |  |  |  |  |  |  | 20.02 |  |  |  |  |  |  |  | 55.83 |  |  |  | 7.86 |  |  |  |  |  |  |  |  |
Earnings per ADS—diluted |  |  | 28.07 |  |  |  |  |  |  |  | 19.85 |  |  |  |  |  |  |  | 55.08 |  |  |  | 7.76 |  |  |  |  |  |  |  |  |
The Company did not include the effect of convertible senior notes issued by iQIYI, other subsidiaries and investees in the computation of diluted earnings per share for the years ended December 31, 2021, 2022 and 2023, as its effect would be anti-dilutive. The Company did not include the effect of certain share options issued by iQIYI, other subsidiaries and investees in the computation of diluted earnings per share for the years ended December 31, 2021 and 2022, as its effect would be anti-dilutive.

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