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Segment information (Tables)
 12 Months Ended
Mar. 31, 2019
Segment information  
Schedule of each segment's revenue, income from operations and adjusted EBITA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended March 31, 2017

 

 

 

 

 

 

Digital media

 

Innovation

 

 

 

 

 

 

 

 

Core

 

Cloud

 

and

 

initiatives and

 

Total

 

 

 

 

 

    

commerce

    

computing

    

entertainment

    

others

    

segments

    

Unallocated (i)

    

Consolidated

 

 

(in millions of RMB, except percentages)

Revenue

 

133,880

 

6,663

 

14,733

 

2,997

 

158,273

 

 —

 

158,273

Income (Loss) from operations

 

74,180

 

(1,681)

 

(9,882)

 

(6,798)

 

55,819

 

(7,764)

 

48,055

Add: share-based compensation expense

 

5,994

 

1,201

 

1,454

 

3,017

 

11,666

 

4,329

 

15,995

Add: amortization of intangible assets

 

2,258

 

 4

 

1,886

 

656

 

4,804

 

318

 

5,122

Adjusted EBITA (ii)

 

82,432

 

(476)

 

(6,542)

 

(3,125)

 

72,289

 

(3,117)

 

  

Adjusted EBITA margin (iii)

 

62

%  

(7)

%  

(44)

%  

(104)

%  

 

 

  

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended March 31, 2018

 

 

 

 

 

 

Digital media

 

Innovation

 

 

 

 

 

 

 

 

Core

 

Cloud

 

and

 

initiatives and

 

Total

 

 

 

 

 

    

commerce

    

computing

    

entertainment

    

others

    

segments

    

Unallocated (i)

    

Consolidated

 

 

(in millions of RMB, except percentages)

Revenue

 

214,020

 

13,390

 

19,564

 

3,292

 

250,266

 

 —

 

250,266

Income (Loss) from operations

 

102,743

 

(3,085)

 

(14,140)

 

(6,901)

 

78,617

 

(9,303)

 

69,314

Add: share-based compensation expense

 

8,466

 

2,274

 

2,142

 

3,707

 

16,589

 

3,486

 

20,075

Add: amortization of intangible assets

 

2,891

 

12

 

3,693

 

198

 

6,794

 

326

 

7,120

Add: impairment of goodwill

 

 —

 

 —

 

 —

 

 —

 

 —

 

494

 

494

Adjusted EBITA (ii)

 

114,100

 

(799)

 

(8,305)

 

(2,996)

 

102,000

 

(4,997)

 

 

Adjusted EBITA margin (iii)

 

53

%

(6)

%

(42)

%

(91)

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended March 31, 2019

 

 

 

 

 

 

Digital media

 

Innovation

 

 

 

 

 

 

 

 

Core

 

Cloud

 

and

 

initiatives and

 

Total

 

 

 

 

 

    

commerce

    

computing

    

entertainment

    

others

    

segments

    

Unallocated (i)

    

Consolidated

 

 

(in millions of RMB, except percentages)

Revenue

 

323,400

 

24,702

 

24,077

 

4,665

 

376,844

 

 —

 

376,844

Income (Loss) from operations

 

109,312

 

(5,508)

 

(20,046)

 

(11,795)

 

71,963

 

(14,879)

 

57,084

Add: share-based compensation expense

 

17,694

 

4,332

 

2,988

 

5,774

 

30,788

 

6,703

 

37,491

Add: amortization of intangible assets

 

9,161

 

18

 

1,262

 

50

 

10,491

 

236

 

10,727

Add: settlement of U.S. federal class action lawsuit

 

 —

 

 —

 

 —

 

 —

 

 —

 

1,679

 

1,679

Adjusted EBITA (ii)

 

136,167

 

(1,158)

 

(15,796)

 

(5,971)

 

113,242

 

(6,261)

 

 

Adjusted EBITA margin (iii)

 

42

%

(5)

%

(66)

%

(128)

%

 

 

 

 

 

 

Schedule of reconciliation from the adjusted EBITA to the consolidated net income

 

 

 

 

 

 

 

 

 

 

Year ended March 31,

 

    

2017

    

2018

    

2019

 

 

(in millions of RMB)

Total Segments Adjusted EBITA

    

72,289

    

102,000

    

113,242

Unallocated (i)

 

(3,117)

 

(4,997)

 

(6,261)

Share-based compensation expense

 

(15,995)

 

(20,075)

 

(37,491)

Amortization of intangible assets

 

(5,122)

 

(7,120)

 

(10,727)

Impairment of goodwill

 

—

 

(494)

 

 —

Settlement of U.S. federal class action lawsuit

 

 —

 

 —

 

(1,679)

Consolidated income from operations

 

48,055

 

69,314

 

57,084

Interest and investment income, net

 

8,559

 

30,495

 

44,106

Interest expenses

 

(2,671)

 

(3,566)

 

(5,190)

Other income, net

 

6,086

 

4,160

 

221

Income tax expenses

 

(13,776)

 

(18,199)

 

(16,553)

Share of results of equity investees

 

(5,027)

 

(20,792)

 

566

Consolidated net income

 

41,226

 

61,412

 

80,234

 

 

 

 

 

 

 

 

Schedule of depreciation and amortization expenses of property and equipment and land use rights by segment

 

 

 

 

 

 

 

 

 

Year ended March 31,

 

    

2017

    

2018

    

2019

 

 

(in millions of RMB)

Core commerce

 

2,124

 

3,784

 

6,672

Cloud computing

 

1,438

 

3,047

 

6,580

Digital media and entertainment

 

752

 

986

 

1,182

Innovation initiatives and others and unallocated (i)

 

970

 

972

 

528

Total depreciation and amortization expenses of property and equipment and land use rights

 

5,284

 

8,789

 

14,962

 

(i)

Unallocated expenses are primarily related to corporate administrative costs and other miscellaneous items that are not allocated to individual segments.

(ii)

Adjusted EBITA represents net income before (i) interest and investment income, net, other income, net, interest expense, income tax expenses and share of results of equity investees, (ii) certain non-cash expenses, consisting of share-based compensation expense, amortization of intangible assets and impairment of goodwill, and (iii) settlement of a U.S. federal class action lawsuit, which are not reflective of the Company’s core operating performance.

(iii)

Adjusted EBITA margin represents Adjusted EBITA divided by revenue.