| Table of assets and liabilities that are measured at fair value on a recurring basis and categorized using the fair value hierarchy |
The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis and are categorized under the fair value hierarchy:
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As of March 31, 2022 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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RMB |
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RMB |
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RMB |
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RMB |
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(in millions) |
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Assets |
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Time deposits (i) |
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— |
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233,724 |
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— |
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233,724 |
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Wealth management products (i) |
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— |
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21,261 |
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— |
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21,261 |
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Marketable debt securities (i) |
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— |
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1,529 |
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— |
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1,529 |
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Restricted cash and escrow receivables |
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37,455 |
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— |
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— |
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37,455 |
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Listed equity securities (ii) |
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103,260 |
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— |
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— |
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103,260 |
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Convertible and exchangeable bonds (ii) |
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— |
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1,067 |
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7,272 |
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8,339 |
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Option agreements (iii) |
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— |
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1 |
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825 |
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826 |
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Others (v) |
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2,196 |
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2,402 |
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8,292 |
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12,890 |
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142,911 |
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259,984 |
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16,389 |
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419,284 |
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Liabilities |
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Contingent consideration in relation to investments and
acquisitions (iv) |
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— |
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— |
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829 |
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829 |
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Interest rate swap contracts and others (iv) |
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— |
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354 |
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170 |
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524 |
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— |
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354 |
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999 |
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1,353 |
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As of March 31, 2023 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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RMB |
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RMB |
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RMB |
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RMB |
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(in millions) |
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Assets |
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Time deposits and certificate of deposits(i) |
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— |
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332,971 |
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— |
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332,971 |
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Wealth management products (i) |
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— |
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34,257 |
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— |
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34,257 |
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Restricted cash and escrow receivables |
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36,424 |
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— |
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— |
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36,424 |
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Listed equity securities (ii) |
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107,751 |
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— |
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— |
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107,751 |
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Convertible and exchangeable bonds (ii) |
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— |
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775 |
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6,392 |
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7,167 |
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Option agreements (iii) |
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— |
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646 |
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290 |
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936 |
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Others (v) |
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162 |
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1,762 |
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6,142 |
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8,066 |
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144,337 |
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370,411 |
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12,824 |
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527,572 |
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Liabilities |
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Contingent consideration in relation to investments and
acquisitions (iv) |
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— |
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— |
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537 |
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537 |
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Others (iv) |
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— |
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182 |
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132 |
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314 |
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— |
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182 |
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669 |
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851 |
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(i)Included in short-term investments and equity securities and other investments on the consolidated balance sheets. (ii)Included in equity securities and other investments on the consolidated balance sheets. (iii)Included in prepayments, receivables and other assets on the consolidated balance sheets. (iv)Included in accrued expenses, accounts payable and other liabilities on the consolidated balance sheets. (v)Others primarily represent other investments with underlying assets measured at fair value.
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| Schedule of rolling forward of convertible bonds categorized within Level 3 under the fair value hierarchy |
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Amounts |
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RMB |
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(in millions) |
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Balance as of March 31, 2021 |
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9,645 |
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Additions |
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1,915 |
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Net decrease in fair value |
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(2,734 |
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Disposal |
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(1,225 |
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Conversion |
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(162 |
) |
Foreign currency translation adjustments |
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(167 |
) |
Balance as of March 31, 2022 |
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7,272 |
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Additions |
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785 |
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Net decrease in fair value |
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(373 |
) |
Disposal |
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(35 |
) |
Conversion |
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(1,492 |
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Foreign currency translation adjustments |
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235 |
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Balance as of March 31, 2023 |
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6,392 |
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