XML 50 R32.htm IDEA: XBRL DOCUMENT v3.24.0.1
Segment Reporting
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Reporting
25.
SEGMENT REPORTING
The Company’s operations are organized into two segments, consisting of Baidu Core and iQIYI. Baidu Core mainly provides search-based, feed-based and other online marketing services, cloud services, products and other services from its new AI initiatives. iQIYI is an online entertainment service provider that offers original, professionally produced and partner-generated content on its platform.
The Company derives the results of the segments directly from its internal management reporting system. The CODM reviews the performance of each segment based on its operating results and uses these results to evaluate the performance of, and to allocate resources to, each of the segments. Because substantially all of the Group’s long-lived assets and revenues are located in and derived from the PRC, geographical segments are not presented. The Company does not allocate assets to its segments as the CODM does not evaluate the performance of segments using asset information.
 
The table below provides a summary of the Group’s operating segment operating results for the year ended December 31, 2021.
 
    
For the year ended December 31, 2021
  
    
Baidu
Core
     
iQIYI
    
Intersegment
eliminations
    
Consolidated
  
    
RMB
     
RMB
    
RMB
    
RMB
  
    
(In millions)
  
Total revenues
   
 
95,163
 
   
 
30,554
 
  
 
(1,224
) 
  
 
124,493
 
  
 
 
     
 
 
    
 
 
    
 
 
  
Operating costs and expenses:
          
Cost of revenues
      37,838        27,513       (1,037 )      64,314  
Selling, general and administrative
      20,040        4,725       (42 )      24,723  
Research and development
      22,143        2,795       —        24,938  
  
 
 
     
 
 
    
 
 
    
 
 
  
Total operating costs and expenses
   
 
80,021
 
   
 
35,033
 
  
 
(1,079
) 
  
 
113,975
 
  
 
 
     
 
 
    
 
 
    
 
 
  
Operating profit (loss)
   
 
15,142
 
   
 
(4,479
) 
  
 
(145
) 
  
 
10,518
 
  
 
 
     
 
 
    
 
 
    
 
 
  
Total other income (loss), net
   
 
1,793
 
   
 
(1,533
) 
  
 
— 
 
  
 
260
 
  
 
 
     
 
 
    
 
 
    
 
 
  
Income (loss) before income taxes
   
 
16,935
 
   
 
(6,012
) 
  
 
(145
) 
  
 
10,778
 
Income taxes
      3,090        97       —        3,187  
  
 
 
     
 
 
    
 
 
    
 
 
  
Net income (loss)
   
 
13,845
 
   
 
(6,109
) 
  
 
(145
) 
  
 
7,591
 
  
 
 
     
 
 
    
 
 
    
 
 
  
Less: net income (loss) attributable to noncontrolling interests
      288        61       (2,984 )      (2,635 ) 
  
 
 
     
 
 
    
 
 
    
 
 
  
Net income (loss) attributable to Baidu, Inc.
   
 
13,557
 
   
 
(6,170
) 
  
 
2,839
 
  
 
10,226
 
  
 
 
     
 
 
    
 
 
    
 
 
  
 
The table below provides a summary of the Group’s operating segment operating results for the year ended December 31, 2022.
 
    
For the year ended December 31, 2022
  
    
Baidu
Core
    
iQIYI
    
Intersegment
eliminations
    
Consolidated
  
    
RMB
    
RMB
    
RMB
    
RMB
  
    
(In millions)
  
Total revenues
   
 
95,431
 
  
 
28,998
 
  
 
(754
) 
  
 
123,675
 
  
 
 
    
 
 
    
 
 
    
 
 
  
Operating costs and expenses:
         
Cost of revenues
      42,378       22,321       (764 )      63,935  
Selling, general and administrative
      17,103       3,466       (55 )      20,514  
Research and development
      21,416       1,899       —        23,315  
  
 
 
    
 
 
    
 
 
    
 
 
  
Total operating costs and expenses
   
 
80,897
 
  
 
27,686
 
  
 
(819
) 
  
 
107,764
 
  
 
 
    
 
 
    
 
 
    
 
 
  
Operating profit
   
 
14,534
 
  
 
1,312
 
  
 
65
 
  
 
15,911
 
  
 
 
    
 
 
    
 
 
    
 
 
  
Total other loss, net
   
 
(4,453
) 
  
 
(1,346
) 
  
 
— 
 
  
 
(5,799
) 
  
 
 
    
 
 
    
 
 
    
 
 
  
Income (loss) before income taxes
   
 
10,081
 
  
 
(34
) 
  
 
65
 
  
 
10,112
 
Income taxes
      2,494       84       —        2,578  
  
 
 
    
 
 
    
 
 
    
 
 
  
Net income (loss)
   
 
7,587
 
  
 
(118
) 
  
 
65
 
  
 
7,534
 
  
 
 
    
 
 
    
 
 
    
 
 
  
Less: net income (loss) attributable to noncontrolling interests
      36       18       (79 )      (25 ) 
  
 
 
    
 
 
    
 
 
    
 
 
  
Net income (loss) attributable to Baidu, Inc.
   
 
7,551
 
  
 
(136
) 
  
 
144
 
  
 
7,559
 
  
 
 
    
 
 
    
 
 
    
 
 
  
 
The table below provides a summary of the Group’s operating segment operating results for the year ended December 31, 2023.
 
   
For the year ended December 31, 2023
  
   
Baidu Core
    
iQIYI
    
Intersegment
eliminations
    
Consolidated
  
   
RMB
    
US$
    
RMB
    
US$
    
RMB
    
US$
    
RMB
    
US$
  
   
(In millions)
  
Total revenues
  
 
103,465
 
  
 
14,573
 
  
 
31,873
 
  
 
4,489
 
  
 
(740
) 
  
 
(104
) 
  
 
134,598
 
  
 
18,958
 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Operating costs and expenses:
                
Cost of revenues
     42,592       5,999       23,103       3,254       (664 )      (94 )      65,031       9,159  
Selling, general and administrative
     19,623       2,765       4,014       565       (118 )      (16 )      23,519       3,314  
Research and development
     22,425       3,158       1,767       249       —       —       24,192       3,407  
Total operating costs and expenses
  
 
84,640
 
  
 
11,922
 
  
 
28,884
 
  
 
4,068
 
  
 
(782
) 
  
 
(110
) 
  
 
112,742
 
  
 
15,880
 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Operating profit
  
 
18,825
 
  
 
2,651
 
  
 
2,989
 
  
 
421
 
  
 
42
 
  
 
6
 
  
 
21,856
 
  
 
3,078
 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total other income (loss), net
  
 
4,298
 
  
 
607
 
  
 
(956
) 
  
 
(135
) 
  
 
—
 
  
 
—
 
  
 
3,342
 
  
 
472
 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Income before income taxes
  
 
23,123
 
  
 
3,258
 
  
 
2,033
 
  
 
286
 
  
 
42
 
  
 
6
 
  
 
25,198
 
  
 
3,550
 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Income taxes
     3,568       503       81       11       —       —       3,649       514  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net income
  
 
19,555
 
  
 
2,755
 
  
 
1,952
 
  
 
275
 
  
 
42
 
  
 
6
 
  
 
21,549
 
  
 
3,036
 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Less: net income attributable to noncontrolling interests
     154       22       27       4       1,053       149       1,234       175  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net income (loss) attributable to Baidu, Inc.
  
 
19,401
 
  
 
2,733
 
  
 
1,925
 
  
 
271
 
  
 
(1,011
) 
  
 
(143
) 
  
 
20,315
 
  
 
2,861
 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
The following table presents the Group’s revenues disaggregated by segment and by types of products or services:
 
    
For the years ended December 31,
  
    
2021
    
2022
    
2023
    
2023
  
    
RMB
    
RMB
    
RMB
    
US$
  
    
(In millions)
  
Online marketing services
      73,919       69,522       75,112       10,579  
Cloud services
(i)
      15,070       17,721       18,718       2,636  
Others
(i)
      6,174       8,188       9,635       1,358  
  
 
 
    
 
 
    
 
 
    
 
 
  
Baidu Core Subtotal
      95,163       95,431       103,465       14,573  
  
 
 
    
 
 
    
 
 
    
 
 
  
Membership services
(i)
      16,714       17,711       20,314       2,861  
Online advertising services
(ii)
      7,067       5,332       6,224       877  
Content distribution
(i)
      3,007       2,562       2,459       346  
Others
(i)
      3,766       3,393       2,876       405  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
iQIYI Subtotal
      30,554       28,998       31,873       4,489  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Intersegment eliminations
      (1,224 )      (754 )      (740 )      (104 ) 
  
 
 
    
 
 
    
 
 
    
 
 
  
Total revenues
   
 
124,493
 
  
 
123,675
 
  
 
134,598
 
  
 
18,958
 
  
 
 
    
 
 
    
 
 
    
 
 
  
(i)
The revenues were presented as “Others” in the consolidated statements of comprehensive income.
 
(ii)
The revenues were presented as “Online marketing services” in the consolidated statements of comprehensive income.