| Schedule of other balance sheet components |
| | | | | | | | | | | | As of December 31, | | | 2019 | | 2020 | | 2021 | | | | | (In US$ thousands) | Accounts receivable, net: | | | | | | | | | | Due from third parties | | | | | | 343,220 | | | 620,632 | Due from Alibaba | | | | | | 135,321 | | | 89,344 | Due from other related parties | | | | | | 48,625 | | | 55,763 | Total gross amount | | | | | | 527,166 | | | 765,739 | Allowance for credit losses: | | | | | | | | | | Balance at the beginning of the year | | | (12,429) | | | (36,594) | | | (35,156) | Additional provision charged to expenses, net | | | (38,561) | | | (53,124) | | | (19,702) | Write-off | | | 14,396 | | | 54,562 | | | 12,208 | Balance at the end of the year | | | (36,594) | | | (35,156) | | | (42,650) | | | | | | | 492,010 | | | 723,089 | | | | | | | | | | | Prepaid expenses and other current assets: | | | | | | | | | | Rental and other deposits | | | | | | 1,186 | | | 1,949 | Deductible value-added taxes | | | | | | 598 | | | 3,063 | Investment prepayment(1) | | | | | | 15,308 | | | — | Loans to and interest receivable from other related parties(2) (Note 10) | | | | | | 158,622 | | | 219,679 | Loans to and interest receivable from third parties(2) | | | | | | 41,784 | | | 137,024 | Advertising prepayment | | | | | | 18,888 | | | 12,011 | Prepayment to outsourced service providers | | | | | | 3,719 | | | 3,776 | Amounts deposited by users(3) | | | | | | 45,745 | | | 53,997 | Content fees | | | | | | 3,080 | | | 1,695 | Others | | | | | | 7,827 | | | 17,532 | | | | | | | 296,757 | | | 450,726 | | | | | | | | | | | Property and equipment, net: | | | | | | | | | | Computers and equipment | | | | | | 165,880 | | | 188,476 | Leasehold improvements | | | | | | 6,429 | | | 7,331 | Furniture and fixtures | | | | | | 2,159 | | | 2,554 | Others | | | | | | 5,077 | | | 7,233 | Property and equipment, gross | | | | | | 179,545 | | | 205,594 | Accumulated depreciation | | | | | | (118,913) | | | (137,198) | | | | | | | 60,632 | | | 68,396 | | | | | | | | | | | Other non-current assets | | | | | | | | | | Investment-related deposits(4) | | | | | | 15,450 | | | 366,067 | Loans to and interest receivable from a related party(2) (Note 10) | | | | | | — | | | 480,786 | Prepayment for purchase of SINA Plaza(5) | | | | | | — | | | 133,734 | Wealth management products, long-term(6) | | | | | | — | | | 50,159 | Deferred tax assets | | | | | | 27,020 | | | 40,537 | Others | | | | | | 2,126 | | | 11,558 | | | | | | | 44,596 | | | 1,082,841 | Accrued and other liabilities(7): | | | | | | | | | | Payroll and welfare | | | | | | 126,023 | | | 170,534 | Marketing expenses | | | | | | 59,410 | | | 82,471 | Sales rebates | | | | | | 222,064 | | | 359,813 | Professional fees | | | | | | 3,880 | | | 7,791 | VAT and other tax payable | | | | | | 49,971 | | | 53,589 | Amounts due to users(3) | | | | | | 45,745 | | | 53,997 | Unpaid consideration for acquisition | | | | | | 10,280 | | | 6,293 | Unpaid consideration for investment | | | | | | 19,257 | | | 441 | Interest payable for convertible debt and unsecured senior notes | | | | | | 923 | | | 27,579 | Listing expenses payable | | | | | | — | | | 9,347 | Others | | | | | | 19,200 | | | 49,178 | | | | | | | 556,753 | | | 821,033 |
8. Other Balance Sheet Components (Continued) | (1) | For the years ended December 31, 2019 and 2020, the Group recognized US$19.1 million and US$1.5 million of impairment charges on investment prepayment (all fully impaired), respectively, due to the deterioration of investees’ operations resulting in their inability to refund the prepayments. No impairment charges on investment prepayment was recorded for the year ended December 31, 2021. |
| (2) | Loans to related parties and third parties incurred for the years ended December 31, 2019, 2020 and 2021 were non-trade in nature. |
| (3) | Weibo wallet enables users to conduct interest-generation activities on Weibo, such as handing out “red envelopes” and coupons to users and purchase different types of products and services on Weibo, including those offered by the Group, such as marketing services and VIP membership, and those offered by Weibo’s platform partners, such as e-commerce merchandises, financial products and virtual gifts. Amounts deposited by users primarily represent the receivable temporarily held in Weibo’s account on a third party online payment platform for Weibo wallet users. Amounts due to users represent the balances that are payable on demand to Weibo wallet users and therefore are reflected as current liability on the consolidated balance sheets. |
| (4) | As of December 31, 2021, investment-related deposits primarily included US$77.9 million in a micro loan company and US$269.1 million in a game company. These non-current assets will be transferred to long-term investment when the legal procedures are completed. |
| (5) | Weibo entered into a letter of intent to purchase the office building (SINA Plaza) from SINA and made a prepayment. As of December 31, 2021, the balance of prepayment for SINA Plaza was US$133.7 million. |
| (6) | The Group measures wealth management products at fair value. It engaged an independent valuation firm to help the management to determine the fair value of certain wealth management products which were overdue in 2021. US$59.3 million loss for those products was recognized in fair value changes through earnings on investments, net, on the consolidated statements of comprehensive income in 2021. The remaining fair value of those products amounting to US$50.2 million was recorded in other non-current assets as of December 31, 2021. |
| (7) | Include amounts due to third parties, employees, related parties (Note 10) and Weibo wallet users. |
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