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424B4
IQIYI, INC. filed this Form 424B4 on 03/29/2018
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Table of Contents

iQIYI, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2015, 2016 AND 2017—continued

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”),

except for number of shares (or ADS) and per share (or ADS) data)

 

The Group’s lease agreements are entered into with third parties and usually have a renewal option with an advance notice period of one to twelve months, and no restrictions or contingent rents. For lease agreements with escalated rental payments, they are recognized on a straight-line basis over the lease term.

Total office rental expenses under all operating leases were RMB63,651, RMB85,527 and RMB106,740 (US$16,406) for the years ended December 31, 2015, 2016 and 2017, respectively. Future minimum payments under non-cancelable operating leases for office rental consist of the following as of December 31, 2017:

 

     RMB      US$  

2018

     135,814        20,874  

2019

     119,878        18,425  

2020

     16,380        2,518  

2021

     10,953        1,683  

2022 and thereafter

     1,682        259  
  

 

 

    

 

 

 
     284,707        43,759  
  

 

 

    

 

 

 

Future minimum payments under non-cancelable operating leases for bandwidth rental consist of the following as of December 31, 2017:

 

     RMB      US$  

2018

     1,376,804        211,611  

2019

     4,823        741  

2020

     384        59  
  

 

 

    

 

 

 
     1,382,011        212,411  
  

 

 

    

 

 

 

Commitments for Licensed Copyrights

Future minimum payments under non-cancelable agreements for licensed copyrights consist of the following as of December 31, 2017:

 

     RMB      US$  

2018

     6,146,266        944,664  

2019

     5,377,993        826,582  

2020

     2,800,675        430,456  

2021

     895,652        137,659  

2022 and thereafter

     1,342,108        206,278  
  

 

 

    

 

 

 
     16,562,694        2,545,639  
  

 

 

    

 

 

 

Capital commitment

The Group has commitments for non-cancelable capital leases and the purchase of fixed assets of RMB32,313 (US$4,966) at December 31, 2017, which are scheduled to be paid within one year.

 

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