Notes Payable (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Summary of Company Issued and Publicly Sold Unsecured Senior Notes

The Company issued and publicly sold unsecured senior notes, and the details of the tranches are shown below:

	Issue date	Principal amount (US$ million)		Mature date	Effective interest rate
2025 Ten-year Notes	June 30, 2015		500	June 30, 2025		4.22	%
2027 Ten-year Notes	July 6, 2017		600	July 6, 2027		3.73	%
2023 Notes	March 29, 2018		1,000	September 29, 2023		3.99	%*
2028 March Notes	March 29, 2018		500	March 29, 2028		4.50	%
2024 Notes	November 14, 2018		600	May 14, 2024		4.51	%*
2024 Notes	December 10, 2018		250	May 14, 2024		4.54	%*
2028 November Notes	November 14, 2018		400	November 14, 2028		4.99	%
2025 Five-year Notes	April 7, 2020		600	April 7, 2025		3.22	%
2030 April Notes	April 7, 2020		400	April 7, 2030		3.54	%
2026 Notes	October 9, 2020		650	April 9, 2026		1.81	%
2030 October Notes	October 9, 2020		300	October 9, 2030		2.43	%
2027 Five-year Notes	August 23, 2021		300	February 23, 2027		1.73	%
2031 Notes	August 23, 2021		700	August 23, 2031		2.49	%

* The 2023 Notes and 2024 Notes were fully repaid when they became due.

Principal Amount and Unamortized Discount and Debt Issuance Costs

The principal amount and unamortized discount and debt issuance costs of the Notes as of December 31, 2023 and 2024 were as follows:

	As of December 31,
	2023			2024			2024
	RMB			RMB			US$
	(In millions)
Principal amount		41,163			36,132			4,950
Unamortized discount and debt issuance costs		(144	)		(110	)		(15	)
		41,019			36,022			4,935

Long Term Loans Principal Repayments

The following table summarizes the aggregate required repayments of the principal amounts of the Group’s long-term debts (including the notes payable and long-term loans (Note 13) but excluding convertible senior notes (Note 15)), in the succeeding five years and thereafter:

	RMB		US$
	(In millions)
For the years ending December 31,
2025		8,197		1,123
2026		20,210		2,769
2027		6,729		922
2028		6,570		900
2029		—		—
Thereafter		10,229		1,401