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Consolidated Statements of Cash Flows
¥ in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
CNY (¥)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
CNY (¥)
Dec. 31, 2020
CNY (¥)
Cash flows from operating activities:        
Net income ¥ 7,534 $ 1,092 ¥ 7,591 ¥ 19,026
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation of fixed assets and computer parts 6,477 939 5,884 5,772
Amortization and impairment of intangible assets 467 68 471 544
Deferred income tax, net (99) (14) (449) 115
Share-based compensation 6,788 984 7,056 6,728
Allowance for credit losses 701 102 989 679
Investment and interest income 4,010 581 (3,930) (11,966)
Amortization and impairment of licensed copyrights 7,781 1,128 10,083 11,864
Amortization and impairment of produced content 5,359 777 6,121 4,534
Impairment of other assets 3,058 443 4,445 2,928
Share of losses from equity method investments 1,910 277 932 2,248
Gain on disposal of subsidiaries (868) (126) (45) 0
Loss (gain) on disposal of fixed assets (58) (8) (81) 71
Barter transaction revenue (876) (127) (1,244) (1,376)
Accretion on convertible senior notes and asset-backed debt securities 146 21 618 501
Other non-cash expenses 598 88 372 739
Changes in operating assets and liabilities, net of effects of acquisitions and disposals:        
Accounts receivable (2,369) (343) (2,144) (1,660)
Amounts due from related parties 264 38 (695) 125
Licensed copyrights (6,144) (891) (9,731) (10,528)
Produced content (7,391) (1,072) (10,492) (6,728)
Other assets 965 139 (3,644) (351)
Customer deposits and deferred revenue (460) (67) 622 1,177
Accounts payable and accrued liabilities and Other non-current liabilities (1,450) (209) 7,141 208
Deferred income 16 2 (29) (293)
Amounts due to related parties (189) (27) 281 (157)
Net cash provided by operating activities 26,170 3,794 20,122 24,200
Cash flows from investing activities:        
Acquisition of fixed assets (8,286) (1,201) (10,896) (5,084)
Acquisition of businesses, net of cash acquired (14) (2) (247) (2,396)
Acquisition of intangible assets (107) (16) (344) (247)
Purchases of time deposit and held-to-maturity investments (173,934) (25,218) (171,526) (159,197)
Maturities of time deposit and held-to-maturity investments 178,831 25,928 156,700 134,299
Purchases of available-for-sale investments (7,587) (1,100) (25,575) (133,008)
Sales and maturities of available-for-sale investments 9,288 1,347 25,895 135,606
Purchases of equity investments (3,628) (526) (3,395) (4,467)
Proceeds from disposal of equity investments 1,984 288 9,908 6,523
Disposal of subsidiaries' shares 270 39 0 (486)
Loans provided to third parties 0 0 (810) (5)
Loans provided to related parties (859) (125) 0 0
Repayment of loans provided to third parties 0 0 810 0
Repayment of loans provided to related parties 0 0 0 917
Prepayments made for the acquisition of businesses 0 0 (12,035) 0
Other investing activities 98 14 71 (7)
Net cash used in investing activities (3,944) (572) (31,444) (27,552)
Cash flows from financing activities:        
Proceeds from short-term loans 6,273 909 4,487 3,559
Repayments of short-term loans (5,084) (737) (3,365) (3,223)
Proceeds from long-term loans 0 0 12,673 0
Repayments of long-term loans (11,451) (1,660) (7,277) (709)
Repayment of loans borrowed from related parties 0 0 0 (356)
Proceeds from issuance of long-term notes, net of issuance costs 0 0 6,440 13,346
Repayment of long-term notes 0 0 0 (5,378)
Proceeds from issuance of convertible senior notes, net of issuance costs 3,449 500 633 5,151
Repayments of convertible senior notes 0 0 (4,751) 0
Proceeds from issuance of subsidiaries' shares 1,227 178 684 4,662
Repurchase of ordinary shares (1,925) (279) (7,581) (13,054)
Proceeds from exercise of share options 200 29 335 228
Proceeds from issuance of redeemable noncontrolling interests 1,212 176 4,935 1,669
Acquisition of redeemable noncontrolling interests and noncontrolling interests in a subsidiary (86) (12) (880) 0
Proceeds from Hong Kong listing, net of issuance costs 0 0 19,873 0
Return of equity to noncontrolling interest shareholders 0 0 (2,701) 0
Other financing activities (205) (30) (109) (230)
Net cash provided by/(used in) financing activities (6,390) (926) 23,396 5,665
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,729 251 (943) (212)
Net increase in cash, cash equivalents and restricted cash 17,565 2,547 11,131 2,101
Cash, cash equivalents and restricted cash at the beginning of the year 47,671 6,912 36,540 34,439
Cash, cash equivalents and restricted cash at the end of the year 65,236 9,459 47,671 36,540
Supplemental disclosures:        
Interest paid 2,690 390 2,542 2,204
Income taxes paid 3,525 511 3,253 3,608
Non-cash investing and financing activities:        
Acquisition of fixed assets included in accounts payable and accrued liabilities 1,000 145 1,843 984
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents 53,156 7,707 36,850 35,782
Restricted cash 11,330 1,643 10,821 758
Long-term restricted cash [2] 750 [1] 109 [1] 0 [1] 0
Cash, cash equivalents and restricted cash at the end of the year ¥ 65,236 $ 9,459 ¥ 47,671 ¥ 36,540
[1] Long-term restricted cash represents collateral to repayments of the iQIYI PAG Notes (Note 15).
[2] Long-term restricted cash was included in “Other non-current assets” in the consolidated balance sheet as of December 31, 2022.