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Other Balance Sheets Components

12 Months Ended

Dec. 31, 2023

8. Other Balance Sheets Components


	As of December 31,
	2022		2023

	(In US$ thousands)
Accounts receivable, net:
Due from third parties	$	416,125	$	396,043
Due from Alibaba		75,347		61,094
Due from other related parties		49,151		38,188
Total gross amount		540,623		495,325
Allowance for credit losses:
Balance at the beginning of the year		(42,650)		(38,180)
Additional provision charged to expenses, net		(4,440)		(19,208)
Write-off		4,695		1,435
Currency translation adjustment		4,215		1,396
Balance at the end of the year		(38,180)		(54,557)
	$	502,443	$	440,768

Prepaid expenses and other current assets:
Rental and other deposits	$	1,583	$	1,606
Deductible value-added taxes		3,865		4,860
Investment prepayment		30,938		29,055
Proceeds receivable from disposal of investments		13,371		—
Loans to and interest receivable from other related parties⁽¹⁾ (Note 10)		110,000		100,000
Loans to and interest receivable from third parties⁽¹⁾		136,683		137,042
Advertising prepayment		9,126		8,563
Prepayment to outsourced service providers		3,479		3,380
Amounts deposited by users⁽²⁾		52,216		50,194
Content fees		15,859		15,796
Others		14,382		9,385
	$	391,502	$	359,881

Property and equipment, net:
Office building	$	196,223	$	190,295
Office building related facilities		3,298		3,199
Computers and equipment		228,599		213,637
Leasehold improvements		13,064		13,178
Furniture and fixtures		8,139		7,950
Others		17,733		18,644
Property and equipment, gross		467,056		446,903
Accumulated depreciation		(217,503)		(226,240)
	$	249,553	$	220,663
Other non-current assets
Investment-related deposits⁽³⁾	$	373,252	$	325,895
Loans to and interest receivable from other related parties⁽¹⁾ (Note 10)		454,912		349,716
Deferred tax assets		39,989		43,262
Others		30,269		36,889
	$	898,422	$	755,762
Accrued and other liabilities⁽⁴⁾:
Payroll and welfare	$	156,274	$	161,579
Marketing expenses		74,093		62,267
Sales rebates		266,455		244,868
Professional fees		8,836		8,083
VAT and other tax payable		51,037		56,548
Amounts due to users⁽²⁾		52,216		50,194
Payable to SINA for the acquisition of the equity of STC (Note 6)		218,402		—
Unpaid consideration for acquisitions		687		5,674
Unpaid consideration for investment		4,320		2,186
Proceeds received in advance from disposal of investment		14,496		—
Interest payable for convertible senior notes, unsecured senior notes and long-term loans		28,257		28,812
Others		38,911		36,234
	$	913,984	$	656,445

(1)	Loans to related parties and third parties incurred for the years ended December 31, 2022 and 2023 were non-trade in nature.

(2)

Weibo wallet enables users to conduct interest-generation activities on Weibo, such as handing out “red envelopes” and coupons to users and purchase different types of products and services on Weibo, including those offered by the Group, such as marketing services and membership, and those offered by Weibo’s platform partners, such as e-commerce merchandises, financial products and virtual gifts. Amounts deposited by users primarily represent the receivable temporarily held in Weibo’s account on a third-party online payment platform for Weibo wallet users. Amounts due to users represent the balances that are payable on demand to Weibo wallet users and therefore are reflected as current liability on the consolidated balance sheets.

(3)	Investment-related deposits primarily included a game company amounted to US$249.4 million and US$154.0 million as of December 31, 2022 and 2023, respectively.

(4)	Include amounts due to third parties, employees, related parties (Note 10) and Weibo wallet users.