Other Assets

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

9.	OTHER ASSETS


	As of December 31,
	2022		2023		2023
	RMB		RMB		US$
	(In millions)
Contract assets, net (i)		3,114		3,085		435
VAT prepayments		1,818		1,738		245
Inventories		1,227		1,396		197
Receivables from online payment agencies		856		1,263		178
Advances to suppliers		769		871		123
Licensed copyrights (Note 6)		746		582		82
Prepaid expenses		582		728		103
Deposits		379		386		54
Others (ii)		869		2,530		355

Total other current assets		10,360		12,579		1,772

Long-term prepaid expenses		16,257		16,536		2,329
Long-term restricted cash (iii)		750		840		118
Others		2,089		1,588		224

Total other non-current assets		19,096		18,964		2,671

(i)

The allowance for credit losses on contract assets was RMB285 million and RMB168 million (US$24 million) as of December 31, 2022 and 2023, respectively. Expenses of RMB58 million, RMB200 million and a net reversal of RMB117 million (US$16 million) were recognized for credit losses on contract assets for the years ended December 31, 2021, 2022 and 2023, respectively. No write-offs were charged against the allowance for the years ended December 31, 2021, 2022 and 2023, respectively.

(ii)

The balance as of December 31, 2023 includes a non-trade loan and interest receivables due from PAG with the principal of US$200 million (equivalent to RMB1.4 billion) and interest rate of 6%,

which will due on July 1, 2024 if iQIYI requires repayment, or otherwise will due on the date which PAG and its affiliates cease to hold any portion of the iQIYI PAG

Convertible

Notes. PAG released certain collateral secured by iQIYI under the iQIYI PAG

Convertible

Notes (Note 15) and pledged to iQIYI a portion of the iQIYI PAG

Convertible

Notes, each in an amount equivalent to the amount of this non-trade loan.

(iii)

Long-term restricted cash represents collateral to repayments of the iQIYI PAG Convertible Notes (Note 15).