| Reconciliation of Net Income to Numerator for Computation of Basic and Diluted earnings Per Share |
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, 2023, 2024 and 2025 is as follows:
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For the years ended December 31, |
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(In millions, including number of shares,
except for per share data) |
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Net income attributable to Baidu, Inc. |
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20,315 |
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23,760 |
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5,589 |
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799 |
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Accretion of the redeemable noncontrolling interests |
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(717 |
) |
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(588 |
) |
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(926 |
) |
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(132 |
) |
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Numerator for basic EPS computation |
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19,598 |
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23,172 |
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4,663 |
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667 |
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Impact of diluted securities of subsidiaries and equity method investees |
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(44 |
) |
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(105 |
) |
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(620 |
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(89 |
) |
Numerator for diluted EPS computation |
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19,554 |
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23,067 |
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4,043 |
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578 |
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| Computation of Basic and Diluted Earnings Per Class A and Class B Ordinary Share |
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:
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For the years ended December 31, |
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(In millions, including number of shares and ADS, except for per share and per ADS data) |
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Earnings per share—basic: |
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Allocation of net income attributable to Baidu, Inc. |
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15,905 |
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3,693 |
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18,812 |
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4,360 |
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3,767 |
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539 |
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896 |
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128 |
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Weighted average ordinary shares outstanding |
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2,278 |
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529 |
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2,265 |
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525 |
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2,202 |
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2,202 |
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524 |
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524 |
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Denominator used for basic EPS |
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2,278 |
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529 |
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2,265 |
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525 |
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2,202 |
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2,202 |
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524 |
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524 |
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6.98 |
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6.98 |
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8.31 |
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8.31 |
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1.71 |
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0.24 |
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1.71 |
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0.24 |
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Earnings per share—diluted: |
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Allocation of net income attributable to Baidu, Inc. for diluted computation |
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15,909 |
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3,645 |
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18,741 |
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4,326 |
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3,273 |
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468 |
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770 |
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110 |
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Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares |
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3,645 |
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— |
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4,326 |
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— |
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770 |
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110 |
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— |
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— |
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| Numerator for diluted EPS computation |
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19,554 |
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3,645 |
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23,067 |
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4,326 |
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4,043 |
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578 |
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770 |
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110 |
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Weighted average ordinary shares outstanding |
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2,278 |
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529 |
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2,265 |
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525 |
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2,202 |
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2,202 |
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524 |
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524 |
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Conversion of Class B to Class A ordinary shares |
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529 |
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— |
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525 |
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— |
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524 |
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524 |
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— |
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— |
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30 |
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8 |
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— |
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18 |
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18 |
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— |
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— |
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Denominator used for diluted EPS |
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2,837 |
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529 |
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2,798 |
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525 |
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2,744 |
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2,744 |
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524 |
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524 |
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Earnings per share—diluted |
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6.89 |
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6.89 |
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8.24 |
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8.24 |
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1.47 |
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0.21 |
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1.47 |
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0.21 |
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Earnings per ADS (1 ADS equals 8 Class A ordinary shares): |
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Denominator used for earnings per ADS—basic |
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285 |
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283 |
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275 |
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275 |
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Denominator used for earnings per ADS—diluted |
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355 |
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350 |
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343 |
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343 |
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55.83 |
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66.40 |
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13.67 |
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1.95 |
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55.08 |
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65.91 |
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11.78 |
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1.68 |
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