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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Millions
12 Months Ended
Mar. 31, 2024
CNY (¥)
Mar. 31, 2024
USD ($)
Mar. 31, 2023
CNY (¥)
Mar. 31, 2022
CNY (¥)
Cash flows from operating activities:        
Net income ¥ 71,332 $ 9,879,000,000 ¥ 65,573 ¥ 47,079
Adjustments to reconcile net income to net cash provided by operating activities:        
Revaluation loss on previously held equity interest 0 0 0 2
Loss on disposals of equity method investees 10 1,000,000 72 32
Loss related to equity securities and other investments 23,480 3,252,000,000 14,911 20,479
Change in fair value of other assets and liabilities (708) (98,000,000) (1,522) 1,478
Gain on disposals of subsidiaries (1,550) (215,000,000) (14) (1,163)
Depreciation and impairment of property and equipment, and operating lease cost relating to land use rights 26,640 3,690,000,000 27,799 27,808
Amortization of intangible assets and licensed copyrights 17,864 2,474,000,000 19,139 20,257
Share-based compensation expense 18,546 2,569,000,000 30,831 23,971
Equity-settled donation expense 0 0 511 0
Impairment of equity securities and other investments 12,244 1,696,000,000 13,327 8,922
Impairment of goodwill, intangible assets and licensed copyrights 22,610 3,131,000,000 6,658 25,886
Loss (Gain) on disposals of property and equipment (107) (15,000,000) (163) 132
Share of results of equity method investees 7,735 1,072,000,000 8,063 (14,344)
Deferred income taxes (5,263) (729,000,000) (1,717) (1,369)
Allowance for doubtful accounts 3,509 485,000,000 2,802 1,739
Changes in assets and liabilities, net of effects of acquisitions and disposals:        
Prepayments, receivables and other assets, and long-term licensed copyrights (37,621) (5,209,000,000) 8,605 (32,496)
Income tax payable (4,764) (660,000,000) (9,214) (3,526)
Accrued expenses, accounts payable and other liabilities 27,126 3,757,000,000 11,159 13,327
Merchant deposits (560) (78,000,000) (1,450) (270)
Deferred revenue and customer advances 2,070 287,000,000 4,382 4,815
Net cash provided by operating activities 182,593 25,289,000,000 199,752 142,759
Cash flows from investing activities:        
(Increase) Decrease in short-term investments, net 71,426 9,892,000,000 (61,086) (106,984)
Increase in other treasury investment, net (64,392) (8,918,000,000) (40,794)  
Settlement of forward exchange contracts, net 658 91,000,000 1,282 (448)
Acquisitions of equity securities and other investments and other assets (15,240) (2,111,000,000) (17,818) (39,378)
Disposals of equity securities and other investments, and other assets 21,966 3,042,000,000 21,738 14,543
Acquisitions of equity method investees (3,525) (488,000,000) (4,552) (9,383)
Disposals of and distributions from equity method investees 1,265 175,000,000 1,001 936
Acquisitions of:        
Land use rights, property and equipment (32,087) (4,444,000,000) (34,330) (53,309)
Intangible assets (842) (116,000,000) (22) (15)
Disposals of property and equipment 373 52,000,000 644  
Cash paid for business combinations, net of cash acquired (2,204) (305,000,000) (1,204) (4,087)
Deconsolidation and disposal of subsidiaries, net of cash proceeds 699 97,000,000 (5) (11)
Loans to employees, net of repayments 79 10,000,000 (360) (456)
Net cash used in investing activities (21,824) (3,023,000,000) (135,506) (198,592)
Cash flows from financing activities:        
Issuance of ordinary shares 843 117,000,000 11 109
Repurchase of ordinary shares (88,745) (12,291,000,000) (74,746) (61,225)
Dividend distribution (17,946) (2,485,000,000) 0 0
Acquisition of additional equity interests in non-wholly owned subsidiaries (5,821) (806,000,000) (2,511) (7,406)
Dividends paid by non-wholly owned subsidiaries to noncontrolling interests (546) (76,000,000) (489) (881)
Contingent consideration payments made after a business combination (71) (10,000,000) (144)  
Capital injection from noncontrolling interests 1,577 218,000,000 918 12,240
Proceeds from bank borrowings and other borrowings, net of upfront fee payment for a syndicated loan 20,570 2,848,000,000 22,790 9,427
Repayment of bank borrowings (13,092) (1,813,000,000) (11,448) (7,128)
Repayment of unsecured senior notes (5,013) (694,000,000)   (9,585)
Net cash used in financing activities (108,244) (14,992,000,000) (65,619) (64,449)
Effect of exchange rate changes on cash and cash equivalents, restricted cash and escrow receivables 4,389 608,000,000 3,530 (8,834)
(Decrease) Increase in cash and cash equivalents, restricted cash and escrow receivables 56,914 7,882,000,000 2,157 (129,116)
Cash and cash equivalents, restricted cash and escrow receivables at beginning of year 229,510 31,787,000,000 227,353 356,469
Cash and cash equivalents, restricted cash and escrow receivables at end of year 286,424 39,669,000,000 229,510 227,353
Supplemental disclosures of cash flow information:        
Payment of income tax 32,486   26,476 31,733
Payment of interest 7,832   5,637 4,886
Business combinations:        
Cash paid for business combinations (2,325)   (1,254) (5,282)
Cash acquired in business combinations 121   50 1,195
Cash paid for business combinations, net of cash acquired ¥ (2,204) $ (305,000,000) ¥ (1,204) ¥ (4,087)