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Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Reconciliation of Net Income to Numerator for Computation of Basic and Diluted 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 per share for the years ended December 31, 2020, 2021 and 2022 is as follows:


	For the years ended December 31,
	2020			2021			2022			2022
	RMB			RMB			RMB			US$
	(In millions, including number of shares, except for per share data)
Net income attributable to Baidu, Inc.		22,472			10,226			7,559			1,096
Accretion of the redeemable noncontrolling interests		(88	)		(350	)		(591	)		(86	)

Numerator for basic EPS computation		22,384			9,876			6,968			1,010
Numerator for diluted EPS computation		22,384			9,876			6,968			1,010

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:


	For the years ended December 31,
	2020				2021				2022				2022
	Class A		Class B		Class A		Class B		Class A		Class A		Class B		Class B
	RMB		RMB		RMB		RMB		RMB		US$		RMB		US$
	(In millions, including number of shares and ADS, except for per share and per ADS data)
Earnings per share—basic:
Numerator
Allocation of net income attributable to Baidu, Inc.		17,683		4,701		7,871		2,005		5,590		810		1,378		200

Denominator
Weighted average ordinary shares outstanding (Note)		2,158		574		2,198		560		2,232		2,232		550		550

Denominator used for basic EPS (Note)		2,158		574		2,198		560		2,232		2,232		550		550

Earnings per share—basic ( Note )		8.19		8.19		3.58		3.58		2.50		0.36		2.50		0.36

Earnings per share—diluted:
Numerator
Allocation of net income attributable to Baidu, Inc. for diluted computation		17,723		4,661		7,910		1,966		5,604		812		1,364		198
Reallocation of net income attributable to Baidu, Inc. as a result of conversion of Class B to Class A shares		4,661		—		1,966		—		1,364		198		—		—

Numerator for diluted EPS calculation		22,384		4,661		9,876		1,966		6,968		1,010		1,364		198

Denominator
Weighted average ordinary shares outstanding (Note)		2,158		574		2,198		560		2,232		2,232		550		550
Conversion of Class B to Class A ordinary shares (Note)		574		—		560		—		550		550		—		—
Share-based awards (Note)		24		—		56		—		27		27		—		—

Denominator used for diluted EPS (Note)		2,756		574		2,814		560		2,809		2,809		550		550

Earnings per share—diluted ( Note )		8.12		8.12		3.51		3.51		2.48		0.36		2.48		0.36

Earnings per ADS (1 ADS equals 8 Class A ordinary shares) ：
Denominator used for earnings per ADS—basic (Note)		270				275				279		279

Denominator used for earnings per ADS—diluted (Note)		344				352				351		351

Earnings per ADS—basic ( Note )		65.54				28.64				20.02		2.90

Earnings per ADS—diluted ( Note )		64.98				28.07				19.85		2.88

Note:

Basic and diluted net earnings per share, the number of shares and the adjustments for dilutive restricted shares and share options for the year ended December 31, 2020 had been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that took effect on March 1, 2021, as detailed in Note 1.