Investments (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Investments at Amortized Cost and Fair Value

Short-term investments classification as of December 31, 2021 and 2022 were shown as below:

	As of December 31, 2021
	Cost or Amortized cost less allowance for credit losses		Gross unrecognized holding gains		Gross unrecognized holding losses		Gross unrealized gains		Gross unrealized losses		Fair value
	RMB		RMB		RMB		RMB		RMB		RMB
	(In millions)
Held-to-maturity debt investments		140,686		898		—		—		—		141,584
Available-for-sale debt investments		2,547		—		—		10		—		2,557

	As of December 31, 2022
	Cost or Amortized cost less allowance for credit losses		Gross unrecognized holding gains		Gross unrecognized holding losses			Gross unrealized gains		Gross unrealized losses		Fair value
	RMB		RMB		RMB			RMB		RMB		RMB		US$
	(In millions)
Held-to-maturity debt investments		119,984		631		(151	)		—		—		120,464		17,466
Available-for-sale debt investments		847		—		—			8		—		855		124

Schedule of Unrealized and Realized Gains and Losses of Equity Securities Without Readily Determinable Fair Values

Total unrealized and realized gains and losses of equity securities without readily determinable fair values that do not qualify for the NAV practical expedient for the years ended December 31, 2020, 2021 and 2022 were as follows:

	For the years ended December 31,
	2020			2021			2022			2022
	RMB			RMB			RMB			US$
	(In millions)
Gross unrealized gains		4,396			1,062			218			32
Gross unrealized losses (including impairment)(i)		(2,679	)		(4,424	)		(2,418	)		(351	)
Net unrealized gains (losses) on equity securities held		1,717			(3,362	)		(2,200	)		(319	)
Net realized gains on equity securities sold		266			—			90			13
Total net gains (losses) recognized		1,983			(3,362	)		(2,110	)		(306	)

(i) Gross unrealized losses (downward adjustments excluding impairment) were RMB378 million, RMB165 million and nil for the years ended December 31, 2020, 2021 and 2022, respectively.

Equity Method Investments

The following tables set forth the summarized financial information of Trip:

	As of September 30, (i)
	2021		2022		2022
	RMB		RMB		US$
	(In millions)
Current assets		76,596		67,045		9,422
Non-current assets		124,268		127,253		17,883
Current liabilities		73,517		61,708		8,672
Non-current liabilities		16,418		21,647		3,042
Noncontrolling interests		924		713		100

	For the twelve months ended September 30, (i)
	2020			2021			2022			2022
	RMB			RMB			RMB			US$
	(In millions)
Total revenues		21,704			20,313			19,706			2,769
Gross profit		16,838			15,916			15,261			2,145
Loss from operations		(827	)		(723	)		(376	)		(53	)
Net (loss) income		(2,236	)		1,198			(1,596	)		(224	)
Net (loss) income attributable to Trip		(2,243	)		1,288			(1,488	)		(209	)

(i) The Group adopted a one-quarter lag in reporting its share of equity income (loss) in Trip.

Summary Of Estimated Fair Value Of Available-For-Sale Debt Investments

The following table summarizes the estimated fair value of available-for-sale debt investments with stated contractual dates, classified by the contractual maturity date of the investments:

	As of December 31,
	2021		2022		2022
	RMB		RMB		US$
	(In millions)
Due in 1 year		—		—		—
Due in 1 year through 5 years		1,685		1,581		229
Not due at a single maturity date		577		866		126
Total		2,262		2,447		355

Long Term Investments

Schedule of Investments at Amortized Cost and Fair Value

Long-term investments classification, excluding equity method investments and equity investments without readily determinable fair value, as of December 31, 2021 and 2022 are shown as below:

	As of December 31, 2021
	Cost or Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
	RMB		RMB		RMB			RMB
	(In millions)
Equity investments at fair value with readily determinable fair value		15,046		6,046		(4,717	)		16,375
Available-for-sale debt investments		2,820		216		(774	)		2,262
Investments accounted for at fair value		1,974		2,653		(399	)		4,228

	As of December 31, 2022
	Cost or Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
	RMB		RMB		RMB			RMB		US$
	(In millions)
Equity investments at fair value with readily determinable fair value		15,835		2,731		(6,466	)		12,100		1,754
Available-for-sale debt investments		3,735		283		(1,571	)		2,447		355
Investments accounted for at fair value		2,331		2,855		(570	)		4,616		669

Summary of Break Down of Long Term Investments

The following table sets forth a breakdown of the categories of long-term investments held by the Group as of the dates indicated:

	As of December 31,
	2021		2022		2022
	RMB		RMB		US$
	(In millions)
Equity investments at fair value with readily determinable fair value		16,375		12,100		1,754
Equity investments without readily determinable fair value using the NAV practical expedient		957		945		137
Equity investments without readily determinable fair value using the measurement alternative		10,788		9,249		1,341
Available-for-sale debt investments		2,262		2,447		355
Equity method investments		24,808		25,940		3,761
Investments accounted for at fair value		4,228		4,616		669
Total long-term investments		59,418		55,297		8,017

Other Equity Method Investees Excluding Ctrip Com Member [Member]

Equity Method Investments

Financial information for the Group’s equity method investments other than Trip are summarized as a group as follow:

	As of September 30, (i)
	2021		2022		2022
	RMB		RMB		US$
	(In millions)
Current assets		125,266		163,889		23,031
Non-current assets		18,512		19,781		2,780
Current liabilities		90,744		117,811		16,556
Non-current liabilities		9,218		15,750		2,213
Noncontrolling interests		1,662		1,721		242

	For the twelve months ended September 30, (i)
	2020			2021		2022		2022
	RMB			RMB		RMB		US$
	(In millions)
Total revenues		13,981			21,380		22,417		3,150
Gross profit		5,083			7,624		8,664		1,218
(Loss) income from operations		(1,282	)		1,238		993		140
Net (loss) income		(832	)		2,065		304		43
Net (loss) income attributable to the investees		(891	)		2,040		249		35

(i) The Group adopted a one-quarter lag in reporting its share of (loss) income in majority of its equity investees.

Equity Method Investments

Schedule of Unrealized and Realized Gains and Losses of Equity Securities Without Readily Determinable Fair Values

The total carrying value of equity investments without readily determinable fair value that do not qualify for the NAV practical expedient held as of December 31, 2021 and 2022 were as follows:

	As of December 31, 2021			As of December 31, 2022			As of December 31, 2022
	RMB			RMB			US$
	(In millions)
Initial cost basis		13,016			13,741			1,992
Cumulative unrealized gains		3,910			4,026			584
Cumulative unrealized losses (including impairment)		(6,138	)		(8,518	)		(1,235	)
Total carrying value		10,788			9,249			1,341