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PRINCIPAL ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2013
PRINCIPAL ACCOUNTING POLICIES |
Company's major VIEs and VIE's subsidiaries |
Name of VIE and VIEs’ subsidiaries |  | Date of establishment/acquisition
Shanghai Ctrip Commerce Co., Ltd. (“Shanghai Ctrip Commerce”) |  | Established on July 18, 2000
Beijing Ctrip International Travel Agency Co., Ltd. (“Beijing Ctrip”) |  | Acquired on January 15, 2002
Guangzhou Ctrip International Travel Agency Co., Ltd. (“Guangzhou Ctrip”) |  | Established on April 28, 2003
Shanghai Ctrip International Travel Agency Co., Ltd. (“Shanghai Ctrip” formerly Shanghai Ctrip Charming International Travel Agency Co., Ltd.) |  | Acquired on September 23, 2003
Shenzhen Ctrip Travel Agency Co., Ltd. (“Shenzhen Ctrip”) |  | Established on April 13, 2004
Ctrip Insurance Agency Co., Ltd. (“Ctrip Insurance”) |  | Established on July 25, 2011
Shanghai Huacheng Southwest Travel Agency Co., Ltd. (“Shanghai Huacheng”) |  | Established on March 13, 2001
Chengdu Ctrip Travel Agency Co., Ltd. (“Chengdu Ctrip”) |  | Established on January 8, 2007
Chengdu Ctrip International Travel Agency Co., Ltd. (“Chengdu Ctrip International”) |  | Established on November 4, 2008
Consolidation balance sheet information of VIEs |
|  | As of December 31, |
|  | 2012 |  | 2013 |
|  | RMB |  | RMB |
Total assets |  | 3,724,911,506 |  | 5,982,258,881 |
Less: Inter-company receivables |  | (542,006,382 | ) | (373,041,663 | )
Total assets excluding inter-company |  | 3,182,905,124 |  | 5,609,217,218 |
Total liabilities |  | 2,835,938,149 |  | 5,287,287,035 |
Less: Inter-company payables |  | (564,890,117 | ) | (1,442,636,737 | )
Total liabilities excluding inter-company |  | 2,271,048,032 |  | 3,844,650,298 |
Consolidation results of operations information of VIEs |
|  | For the year ended December 31, |
|  | 2011 |  | 2012 |  | 2013 |
|  | RMB |  | RMB |  | RMB |
Net revenues |  | 1,923,643,591 |  | 2,465,286,325 |  | 3,137,211,893 |
Cost of revenues |  | 461,223,883 |  | 644,886,101 |  | 904,328,902 |
Net income/ (loss) |  | 206,213,884 |  | 198,929,052 |  | (74,463,933 | )
Property, equipment and software, estimated useful lives |
Building |  | 20-30 years
Leasehold improvements |  | Lesser of the term of the lease or the estimated useful lives of the assets
Website-related equipment |  | 5 years
Computer equipment |  | 3-5 years
Furniture and fixtures |  | 3-5 years
Software |  | 3-5 years
Allowance for doubtful accounts |
|  | 2011 |  | 2012 |  | 2013 |
|  | RMB |  | RMB |  | RMB |
Balance at beginning of year |  | 5,718,742 |  | 4,974,138 |  | 4,351,963 |
Provision for doubtful accounts |  | 185,443 |  | 376,164 |  | 2,842,681 |
Write-offs |  | (930,047 | ) | (998,339 | ) | (1,297,741 | )
Balance at end of period |  | 4,974,138 |  | 4,351,963 |  | 5,896,903 |
Company's share option activity under all the option plans | The following table summarized the Company’s share option activity under all the option plans (in US$, except shares):
|  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2010 |  | 4,414,481 |  | 67.71 |  | 5.98 |  | 415,360,566 |
Granted |  | 1,375,345 |  | 136.86 |  |  |  |  |
Exercised |  | (207,142 | ) | 38.12 |  |  |  |  |
Forfeited |  | (149,143 | ) | 115.98 |  |  |  |  |
Outstanding at December 31, 2011 |  | 5,433,541 |  | 85.02 |  | 5.59 |  | 144,827,231 |
Granted |  | 961,980 |  | 79.55 |  |  |  |  |
Exercised |  | (502,991 | ) | 29.39 |  |  |  |  |
Forfeited |  | (71,623 | ) | 136.67 |  |  |  |  |
Converted to RSU in January 2012 |  | (1,901,372 | ) | 91.8 |  |  |  |  |
Outstanding at December 31, 2012 |  | 3,919,535 |  | 64.81 |  | 5.14 |  | 57,772,345 |
Granted |  | 945,106 |  | 79.70 |  |  |  |  |
Exercised |  | (660,459 | ) | 48.05 |  |  |  |  |
Forfeited |  | (73,450 | ) | 91.75 |  |  |  |  |
Outstanding at December 31, 2013 |  | 4,130,732 |  | 70.42 |  | 4.99 |  | 528,988,489 |
Vested and expect to vest at December 31, 2013 |  | 3,982,976 |  | 69.95 |  | 4.92 |  | 511,937,931 |
Exercisable at December 31, 2013 |  | 2,283,785 |  | 60.18 |  | 3.58 |  | 315,856,509 |
Information related to outstanding and exercisable options | The following table summarizes information related to outstanding and exercisable options as of December 31, 2013 (in US$, except shares):
|  | Outstanding |  | Exercisable |
Range of Exercise Prices |  | Number of shares |  | Weighted-Average Exercise Price |  | Weighted-average Remaining Contractual Life (Years) |  | Number of shares |  | Weighted-Average Exercise Price |  | Weighted-average Remaining Contractual Life (Years) |
23.00-34.99 |  | 1,125 |  | 30.50 |  | 0.12 |  | 1,125 |  | 30.50 |  | 0.12 |
35.00-44.99 |  | 1,353,069 |  | 38.06 |  | 3.08 |  | 1,353,069 |  | 38.06 |  | 3.08 |
45.00-58.99 |  | 157,558 |  | 58.39 |  | 1.12 |  | 157,558 |  | 58.39 |  | 1.12 |
59.00-77.99 |  | 1,358,411 |  | 76.78 |  | 6.98 |  | 98,324 |  | 70.69 |  | 6.43 |
78.00-96.99 |  | 731,131 |  | 91.36 |  | 5.24 |  | 374,298 |  | 94.61 |  | 4.28 |
97.00-129.99 |  | 466,500 |  | 106.12 |  | 5.61 |  | 257,333 |  | 108.79 |  | 5.40 |
130.00-159.99 |  | 62,938 |  | 151.78 |  | 5.17 |  | 42,078 |  | 150.76 |  | 5.10 |
|  | 4,130,732 |  |  |  |  |  | 2,283,785 |  |  |  |
Assumptions of Black-Scholes pricing model |
|  | 2011 |  | 2012 |  | 2013 |
Risk-free interest rate |  | 0.81% - 2.11% |  | 0.71%-1.05% |  | 0.69%-0.87% |
Expected life (years) |  | 5.0 |  | 5.0 |  | 5.0 |
Expected dividend yield |  | 0% |  | 0% |  | 0% |
Volatility |  | 53%-55% |  | 56% |  | 56% |
Fair value of options at grant date per share |  | from US$48.69 to US$74.39 |  | from US$33.44 to US$42.18 |  | from US$37.96 to US$39.69 |
Schedule of restricted share activities under all option plans | The following table summarized the Company’s RSUs activities under all option plans (in US$, except shares):
|  | Number of Shares |  | Weighted average grant date fair value(US$) |
Restricted shares |  |  |  |  |
Outstanding at December 31, 2011 |  | 190,916 |  | 130.29 |
Granted |  | 164,976 |  | 82.34 |
Converted from option in January 2012 |  | 475,343 |  | — |
Exercised |  | (124,644 | ) | 129.84 |
Forfeited |  | (60,290 | ) | 128.27 |
Unvested at December 31, 2012 |  | 646,301 |  | 101.30 | *
Granted |  | 259,365 |  | 79.23 |
Exercised |  | (224,939 | ) | 118.54 |
Forfeited |  | (57,303 | ) | 85.40 |
Unvested at December 31, 2013 |  | 623,424 |  | 83.60 | *
* It does not include the impact of restricted shares converted from option.
Components of other income |
|  | 2011 |  | 2012 |  | 2013 |
|  | RMB |  | RMB |  | RMB |
Financial subsidies |  | 72,791,093 |  | 90,280,139 |  | 119,697,248 |
Foreign exchange gains/(losses) |  | 34,879,388 |  | (9,781,057 | ) | 32,523,857 |
Reimbursement from the depository |  | 8,080,557 |  | 7,914,706 |  | 17,507,842 |
Loss from disposal of property, equipment and software |  | (3,379,449 | ) | (653,191 | ) | (11,946,443 | )
Gain on disposal of cost method investment |  | — |  | — |  | 4,014,829 |
Gain on disposal of equity investment |  | — |  | — |  | 592,742 |
Gain on deconsolidation of subsidiaries |  | — |  | 44,432,052 |  | — |
Others |  | 5,252,136 |  | (1,904,706 | ) | 732,299 |
Total |  | 117,623,725 |  | 130,287,943 |  | 163,122,374

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