0001193125-20-318102 | 6-K | XBRL Viewer

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Cover Page	9 Months Ended
Cover Page	Sep. 30, 2020
Document Information [Line Items]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Entity Registrant Name	iQIYI, Inc.
Entity Central Index Key	0001722608
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE SHEET ¥ in Thousands, $ in Thousands	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 3,163,128	$ 465,878	¥ 5,934,742
Restricted cash	655,653	96,567	974,932
Short-term investments	3,603,891	530,796	4,579,313
Accounts receivable, net of allowance of RMB144,574 and RMB370,027 (US$54,499) as of December 31, 2019 and September 30, 2020, respectively	3,260,191	480,174	3,627,749
Prepayments and other assets	3,463,425	510,108	3,719,228
Amounts due from related parties	169,799	25,009	211,993
Licensed copyrights, net	1,247,415	183,724	1,224,881
Total current assets	15,563,502	2,292,256	20,272,838
Non-current assets:
Fixed assets, net	1,463,733	215,585	1,754,367
Long-term investments	3,710,782	546,539	2,982,154
Deferred tax assets, net	66,673	9,820	34,916
Licensed copyrights, net	6,061,511	892,764	6,287,330
Intangible assets, net	661,683	97,455	813,960
Produced content, net	5,517,095	812,580	4,355,221
Prepayments and other assets	2,711,235	399,322	3,508,476
Operating lease assets	1,001,648	147,527	722,742
Goodwill	3,888,346	572,691	3,888,346
Amounts due from related parties	242,000	35,643	172,200
Total non-current assets	25,324,706	3,729,926	24,519,712
Total assets	40,888,208	6,022,182	44,792,550
Current liabilities (including current liabilities of the consolidated VIEs without recourse to the primary beneficiary of RMB12,093,465 and RMB11,646,729 (US$1,715,378) as of December 31, 2019 and September 30, 2020, respectively):
Accounts and notes payable	7,455,954	1,098,143	8,212,449
Amounts due to related parties	1,828,085	269,248	1,604,258
Customer advances and deferred revenue	3,064,785	451,394	3,081,407
Short-term loans	3,804,396	560,327	2,618,170
Long-term loans, current portion	733,365	108,013	736,814
Operating lease liabilities, current portion	197,673	29,114	125,412
Accrued expenses	2,162,980	318,572	2,611,217
Other liabilities	1,256,218	185,020	1,183,439
Total current liabilities	20,503,456	3,019,831	20,173,166
Non-current liabilities (including non-current liabilities of the consolidated VIEs without recourse to the primary beneficiary of RMB1,932,830 and RMB 1,812,912 (US$267,013) as of December 31, 2019 and September 30, 2020, respectively):
Long-term loans	628,286	92,537	880,278
Convertible senior notes	12,307,243	1,812,661	12,296,868
Deferred tax liabilities	13,749	2,025	30,136
Amounts due to related parties	993,608	146,343	1,061,883
Operating lease liabilities	757,882	111,624	402,732
Other non-current liabilities	207,071	30,498	232,555
Total non-current liabilities	14,907,839	2,195,688	14,904,452
Total liabilities	35,411,295	5,215,519	35,077,618
Commitments and contingencies
Mezzanine equity
Redeemable noncontrolling interests	106,802	15,730	101,542
Shareholders' equity:
Additional paid-in capital	42,464,474	6,254,341	41,298,328
Accumulated deficit	(39,424,412)	(5,806,588)	(33,834,357)
Accumulated other comprehensive income	2,274,276	334,965	2,106,718
Noncontrolling interests	55,444	8,166	42,376
Total shareholders' equity	5,370,111	790,933	9,613,390
Total liabilities, mezzanine equity and shareholders' equity	40,888,208	6,022,182	44,792,550
Class A Ordinary Shares
Shareholders' equity:
Ordinary shares, value	146	22	142
Class B Ordinary Shares
Shareholders' equity:
Ordinary shares, value	¥ 183	$ 27	¥ 183

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) ¥ in Thousands, $ in Thousands	Sep. 30, 2020 CNY (¥) shares	Sep. 30, 2020 USD ($) $ / shares shares	Dec. 31, 2019 CNY (¥) shares
Allowance for doubtful accounts receivable	¥ 370,027	$ 54,499	¥ 144,574
Total current liabilities	20,503,456	3,019,831	20,173,166
Total non-current liabilities	14,907,839	2,195,688	14,904,452
VIEs
Total current liabilities	11,646,729	1,715,378	12,093,465
Total non-current liabilities	¥ 1,812,912	$ 267,013	¥ 1,932,830
Class A Ordinary Shares
Common stock, par value per share \| $ / shares		$ 0.00001
Common stock, shares authorized	94,000,000,000	94,000,000,000	94,000,000,000
Common stock, shares issued	2,617,771,642	2,617,771,642	2,603,890,438
Common stock, shares outstanding	2,318,853,056	2,318,853,056	2,259,125,125
Class B Ordinary Shares
Common stock, par value per share \| $ / shares		$ 0.00001
Common stock, shares authorized	5,000,000,000	5,000,000,000	5,000,000,000
Common stock, shares issued	2,876,391,396	2,876,391,396	2,876,391,396
Common stock, shares outstanding	2,876,391,396	2,876,391,396	2,876,391,396

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥) ¥ / shares shares	Sep. 30, 2020 USD ($) $ / shares shares	Sep. 30, 2019 CNY (¥) ¥ / shares shares
Revenues:
Revenues	¥ 22,249,035	$ 3,276,928	¥ 21,497,034
Operating costs and expenses:
Cost of revenues (including related party amounts of RMB965,944 and RMB827,884 (US$121,935) for the nine months ended September 30, 2019 and 2020, respectively)	(21,099,888)	(3,107,678)	(22,433,904)
Selling, general and administrative (including related party amounts of RMB2,482 and RMB17,133 (US$2,524) for the nine months ended September 30, 2019 and 2020, respectively)	(3,870,170)	(570,014)	(3,836,478)
Research and development (including related party amounts of RMB12,085 and RMB7,381 (US$1,087) for the nine months ended September 30, 2019 and 2020, respectively)	(2,012,113)	(296,352)	(1,955,884)
Total operating costs and expenses	(26,982,171)	(3,974,044)	(28,226,266)
Operating loss	(4,733,136)	(697,116)	(6,729,232)
Other income/(expense):
Interest income (including related party amounts of RMB3,596 and RMB1,247 (US$184) for the nine months ended September 30, 2019 and 2020, respectively)	135,068	19,893	312,312
Interest expenses (including related party amounts of RMB nil and RMB nil (US$ nil) for the nine months ended September 30, 2019 and 2020, respectively)	(796,997)	(117,385)	(637,444)
Foreign exchange (loss)/gain, net	14,349	2,113	(634,187)
Loss from equity method investments	(183,792)	(27,070)	(105,860)
Other income, net	129,039	19,005	22,847
Total other expenses, net	(702,333)	(103,444)	(1,042,332)
Loss before income taxes	(5,435,469)	(800,560)	(7,771,564)
Income tax expense	(39,613)	(5,834)	(29,266)
Net loss	(5,475,082)	(806,394)	(7,800,830)
Less: Net income attributable to noncontrolling interests	15,665	2,307	28,714
Net loss attributable to iQIYI, Inc.	(5,490,747)	(808,701)	(7,829,544)
Accretion of redeemable noncontrolling interests	(5,260)	(775)	0
Net loss attributable to ordinary shareholders.	(5,496,007)	(809,476)	(7,829,544)
Other comprehensive income
Foreign currency translation adjustments	166,781	24,564	613,424
Unrealized losses on available-for-sale debt securities	(315)	(46)	(282)
Total other comprehensive income, net of tax	166,466	24,518	613,142
Comprehensive loss	(5,308,616)	(781,876)	(7,187,688)
Less: Comprehensive income attributable to noncontrolling interests	14,573	2,146	29,821
Comprehensive loss attributable to iQIYI, Inc.	¥ (5,323,189)	$ (784,022)	¥ (7,217,509)
Class A and Class B ordinary share
Net loss per ordinary share:
Basic \| (per share)	¥ (1.07)	$ (0.16)	¥ (1.54)
Diluted \| (per share)	¥ (1.07)	$ (0.16)	¥ (1.54)
Shares used in net loss per ordinary share computation:
Basic	5,157,297,932	5,157,297,932	5,098,456,394
Diluted	5,157,297,932	5,157,297,932	5,098,456,394
American Depositary Shares
Net loss per ordinary share:
Basic \| (per share)	¥ (7.49)	$ (1.12)	¥ (10.78)
Diluted \| (per share)	¥ (7.49)	$ (1.12)	¥ (10.78)
Membership services
Revenues:
Revenues	¥ 12,655,829	$ 1,864,002	¥ 10,574,553
Online advertising services
Revenues:
Revenues	4,963,084	730,983	6,387,500
Content distribution
Revenues:
Revenues	1,855,739	273,321	1,666,177
Others
Revenues:
Revenues	¥ 2,774,383	$ 408,622	¥ 2,868,804

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)
Cost of revenue to related party	¥ 827,884	$ 121,935	¥ 965,944
Selling, general and administrative expenses to related party	17,133	2,524	2,482
Research and development expenses to related party	7,381	1,087	12,085
Interest income from related party	1,247	184	3,596
Interest expense to related party	¥ 0	$ 0	¥ 0
American Depositary Shares
ADS per ordinary share	7	7	7
Membership services
Revenue from related parties	¥ 12,640	$ 1,862	¥ 22,098
Online advertising services
Revenue from related parties	153,725	22,642	51,635
Content distribution
Revenue from related parties	137,597	20,266	389,990
Others
Revenue from related parties	¥ 41,995	$ 6,185	¥ 38,968

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)
Cash flows from operating activities:
Net loss	¥ (5,475,082)	$ (806,394)	¥ (7,800,830)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation of fixed assets	362,459	53,384	349,752
Amortization and impairment of intangible assets	271,935	40,052	419,919
Amortization and impairment of licensed copyrights	8,989,909	1,324,070	9,531,104
Amortization and impairment of produced content	3,492,657	514,413	2,324,085
Impairment of long-lived assets	143,534	21,140	0
Provision for credit losses	212,254	31,262	72,447
Unrealized foreign exchange loss/(gain)	(21,647)	(3,188)	625,126
Loss/(gain) on disposal of fixed assets	(7,146)	(1,052)	3,193
Accretion on convertible notes payable or convertible senior notes	324,136	47,740	241,107
Barter transaction revenue	(957,675)	(141,050)	(493,570)
Share-based compensation	1,021,116	150,394	769,527
Share of losses on equity method investments	183,792	27,070	105,860
Fair value change and impairment of long-term investments	35,099	5,170	21,024
Fair value change of assets and liabilities remeasured at fair value on a recurring basis	0	0	5,711
Other investment and interest income	7,663	1,129	(61,065)
Deferred income tax benefit	(48,144)	(7,091)	(44,646)
Amortization of deferred income	(10,658)	(1,570)	(7,938)
Other non-cash expenses	60,637	8,931	29,869
Changes in operating assets and liabilities
Accounts receivable	92,912	13,684	(155,359)
Amounts due from related parties	(126,909)	(18,692)	(55,226)
Licensed copyrights	(7,913,397)	(1,165,517)	0
Produced content	(4,654,531)	(685,538)	(3,433,945)
Prepayments and other assets	1,200,455	176,808	(1,246,280)
Accounts payable	(617,958)	(91,015)	(335,234)
Amounts due to related parties	(86,373)	(12,721)	344,642
Customer advances and deferred revenue	(20,622)	(3,037)	154,321
Accrued expenses and other current liabilities	(330,627)	(48,696)	183,107
Other non-current liabilities	(19,413)	(2,860)	16,943
Net cash provided by/(used for) operating activities	(3,891,624)	(573,174)	1,563,644
Cash flows from investing activities:
Acquisition of fixed assets	(214,227)	(31,552)	(507,938)
Acquisition of intangible assets	(131,320)	(19,341)	(106,655)
Acquisition of licensed copyrights from related parties	0	0	(259,090)
Acquisition of licensed copyrights from third parties	0	0	(8,042,120)
Purchase of long-term investments	(770,805)	(113,527)	(409,941)
Proceeds from disposal of long-term investments	20,000	2,946	3,000
Acquisition of business, net of cash acquired	(5,798)	(854)	(5,798)
Film investment as passive investor	0	0	(3,250)
Proceeds from film investments as passive investor	1,612	237	14,368
Loans provided to third parties	(6,415)	(945)	(24,000)
Repayment of loans provided to related parties	100,000	14,728	26,500
Purchases of held-to-maturity debt securities	(2,181,603)	(321,315)	(6,226,900)
Maturities of held-to-maturity debt securities	2,972,378	437,784	5,632,495
Purchases of available-for-sale debt securities	(8,104,132)	(1,193,610)	(11,081,887)
Maturities of available-for-sale debt securities	8,190,405	1,206,316	11,330,555
Other investing activities	7,730	1,139	0
Net cash used for investing activities	(122,175)	(17,994)	(9,660,661)
Cash flows from financing activities:
Repayments of loans from related parties	0	0	(70,462)
Proceeds from short-term loans	2,955,474	435,294	1,889,367
Repayments of short-term loans	(1,773,315)	(261,181)	(1,425,903)
Proceeds from long-term loans and borrowings from third party investors, net of issuance costs	0	0	295,395
Repayments of long-term loans and borrowings from third party investors	(302,060)	(44,489)	(19,429)
Purchase of capped calls	0	0	(567,140)
Proceeds from issuance of subsidiaries' shares	114	17	103,500
Acquisition of noncontrolling interests in a subsidiary	0	0	(65,000)
Proceeds from exercise of share options	172,661	25,430	94,601
Finance lease payments	(9,020)	(1,329)	0
Other financing activities	(62,425)	(9,194)	(4,880)
Net cash provided by financing activities	981,429	144,548	8,139,555
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(58,523)	(8,620)	290,138
Net increase/(decrease) in cash, cash equivalents and restricted cash	(3,090,893)	(455,240)	332,676
Cash, cash equivalents and restricted cash at the beginning of the period	6,909,674	1,017,685	6,760,447
Cash, cash equivalents and restricted cash at the end of the period	3,818,781	562,445	7,093,123
Supplemental disclosures of cash flow information:
Acquisition of fixed assets included in accounts payable	9,943	1,464	289,504
Acquisition of long-term investments with non-cash consideration	4,000	589	7,500
Convertible Senior Notes
Cash flows from financing activities:
Proceeds from issuance of convertible senior notes, net of issuance costs	¥ 0	$ 0	¥ 7,909,506

Organization and Basis of Presentation

9 Months Ended

Sep. 30, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

ORGANIZATION AND BASIS OF PRESENTATION

1. ORGANIZATION AND BASIS OF PRESENTATION

iQIYI, Inc. (“iQIYI” or the “Company”) was incorporated under the laws of the Cayman Islands on November 27, 2009. It was formerly known as Ding Xin, Inc. and changed its name to Qiyi.com, Inc. on August 30, 2010 and iQIYI, Inc. on November 30, 2017. The Company completed its initial public offering (“IPO”) on April 3, 2018.

The unaudited interim condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, variable interest entities (“VIEs”), and VIEs’ subsidiaries, hereinafter collectively referred to as the “Group”. In the opinion of management, the unaudited interim condensed consolidated financial statements, which comprise the condensed consolidated balance sheet as of September 30, 2020, the condensed consolidated statements of comprehensive loss and the condensed consolidated statements of cash flows for the nine months ended September 30, 2019 and 2020, reflect all adjustments, consisting of normal and recurring adjustments, necessary to present fairly the Company’s consolidated financial position as of September 30, 2020, the Company’s consolidated results of operations and consolidated cash flows for the nine months ended September 30, 2019 and 2020. The consolidated balance sheet data as of December 31, 2019 was derived from the Company’s audited consolidated financial statements, but does not include all disclosures required by U.S. generally accepted accounting principles (“U.S. GAAP”) for annual financial statements. These unaudited interim condensed consolidated financial statements and the notes thereto should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2019. Results for the nine months ended September 30, 2020 are not necessarily indicative of the results expected for the full fiscal year or for any future period.

The Group is an innovative platform in China offering a diverse collection of high-quality internet video content, including professionally-produced content licensed from professional content providers and self-produced content, on its platform. The Group provides membership services, online advertising services, content distribution services, live broadcasting services and online gaming services. The Group’s principal geographic market is in the People’s Republic of China (“PRC”) and is penetrating into new geographic regions. The Company does not conduct any substantive operations of its own but conducts its primary business operations through its wholly-owned subsidiaries, VIEs and VIEs’ subsidiaries in the PRC.

As of September 30, 2020, the Company’s major subsidiaries, VIEs and VIEs’ subsidiaries are as follows:

Place of

Incorporation

Date of

Establishment/Acquisition

Effective

interest held

Subsidiaries:

Beijing QIYI Century Science & Technology Co.,
Ltd. (“Beijing QIYI Century”)

PRC

March 8, 2010

100

Chongqing QIYI Tianxia Science & Technology Co.,
Ltd. (“QIYI Tianxia”)

PRC

November 3, 2010

100

iQIYI HK Limited (“QIYI HK”)

Hong Kong

April 14, 2011

100

iQIYI Film Group Limited

Cayman

May 26, 2017

100

iQIYI Media Limited

Cayman

May 26, 2017

100

iQIYI Film Group HK Limited

Hong Kong

June 12, 2017

100

Beijing iQIYI New Media Science &Technology Co.,
Ltd. (“iQIYI New Media”)

PRC

July 27, 2017

100

Skymoons Inc.

Cayman

Acquired on July 17, 2018

100

Magic Prime Group Limited

BVI

Acquired on July 17, 2018

Special (Hong Kong) Co., Ltd

Hong Kong

Acquired on July 17, 2018

iQIYI International Singapore Pte, Ltd.

Singapore

February 11, 2020

100

VIEs and VIEs’ subsidiaries:

Beijing iQIYI Science & Technology Co., Ltd.
(“Beijing iQIYI”; formerly known as Beijing
Xinlian Xinde Advertisement Media Co., Ltd.)

PRC

Acquired on November 23, 2011

Nil

Shanghai iQIYI Culture Media Co., Ltd. (“Shanghai iQIYI”)

PRC

December 19, 2012

Nil


	Place of Incorporation	Date of Establishment/Acquisition	Effective interest held
Shanghai Zhong Yuan Network Co., Ltd. (“Shanghai Zhong Yuan”)	PRC	Acquired on May 11, 2013	Nil
iQIYI Pictures (Beijing) Co., Ltd. (“iQIYI Pictures”)	PRC	December 31, 2014	Nil
Beijing iQIYI Intelligent Entertainment Technology Co., Ltd. (“Intelligent Entertainment”, formerly known as Beijing iQIYI Cinema Management Co., Ltd.)	PRC	June 28, 2017	Nil
Tianjin Skymoons Technology Co., Ltd. (“Tianjin Skymoons”)	PRC	Acquired on July 17, 2018	Nil
Chengdu Skymoons Digital Entertainment Co., Ltd. (“Chengdu Skymoons”)	PRC	Acquired on July 17, 2018	Nil
Chengdu Skymoons Interactive Network Game Co.,Ltd. (“Skymoons Interactive”)	PRC	Acquired on July 17, 2018	Nil

PRC laws and regulations prohibit or restrict foreign ownership of companies that engage in value-added telecommunication services, internet audio-video program services and certain other businesses. To comply with these foreign ownership restrictions, the Group operates its websites and primarily conducts its business in the PRC through the VIEs. The

paid-in

capital of the VIEs was mainly funded by the Company through loans extended to the authorized individuals who were the shareholders of the VIEs. The Company has entered into certain agreements with the shareholders of the VIEs through the Company or its wholly-owned subsidiaries in the PRC, including loan agreements for the

paid-in

capital of the VIEs and share pledge agreements for the equity interests in the VIEs held by the shareholders of the VIEs. In addition, the Group has entered into shareholder voting rights trust agreements and exclusive purchase option agreements with the VIEs and nominee shareholders of the VIEs through the Company or its wholly-owned subsidiaries in the PRC, which give the Company or its wholly-owned subsidiaries the power to direct the activities that most significantly affect the economic performance of the VIEs and to acquire the equity interests in the VIEs when permitted by the applicable PRC laws, respectively. Commitment letters have been entered into which obligate the Company to absorb losses of the VIEs that could potentially be significant to the VIEs and certain exclusive agreements have been entered into that entitle the Company or its wholly-owned subsidiaries to receive economic benefits from the VIEs that potentially could be significant to the VIEs.

Despite the lack of legal majority ownership, the Company has effective control of the VIEs through a series of contractual arrangements and a parent-subsidiary relationship exists between the Company and the VIEs. Through the contractual arrangements, the shareholders of the VIEs effectively assigned all of their voting rights underlying their equity interest in the VIEs to the Company. In addition, through the other exclusive agreements, which consist of business operation agreements, business cooperating agreements, exclusive technology consulting and services agreements and trademark and software usage license agreements, the Company, through its wholly-owned subsidiaries in the PRC, have the right to receive economic benefits from the VIEs that potentially could be significant to the VIEs. Lastly, through the commitment letters, the Company has the obligation to absorb losses of the VIEs. Therefore, the Company is considered the primary beneficiary of the VIEs and consolidates the VIEs and their subsidiaries as required by SEC Accounting Standards Codification (“ASC”) topic 810 (“ASC 810”),

Consolidation

In the opinion of the Company’s legal counsel, (i) the ownership structure relating to the VIEs of the Company is in compliance with existing PRC laws and regulations; and (ii) each of the contractual arrangements with the VIEs and their shareholders, and the contractual arrangements taken as a whole, are valid and legally binding upon each party to such agreement under PRC laws; is enforceable against each party thereto in accordance with its terms; and does not contravene any applicable PRC laws or regulations currently in effect.

However, uncertainties in the PRC legal system could cause the Company’s current ownership structure to be found in violation of any existing and/or future PRC laws or regulations and could limit the Company’s ability to enforce its rights under these contractual arrangements. Furthermore, the VIEs’ shareholders may have interests that are different with those of the Company, which could potentially increase the risk that they would seek to act in contrary to the terms of the aforementioned agreements.

In addition, if the current structure or any of the contractual arrangements were found to be in violation of any existing or future PRC laws, the Company may be subject to penalties, including but not be limited to: the cancelation or revocation of the Company’s business and operating licenses, being required to restructure the Company’s operations or discontinue the Company’s operating activities. The imposition of any of these or other penalties may result in a material and adverse effect on the Company’s ability to conduct its operations. As a result, the Company may not be able to operate or control the VIEs, which may result in deconsolidation of the VIEs.

The carrying amounts of the assets, liabilities and the results of operations of the VIEs and VIEs’ subsidiaries included in the Company’s consolidated balance sheets and statements of comprehensive loss are as follows:


	As of
	December 31, 2019		September 30, 2020		September 30, 2020
	RMB		RMB		US$
ASSETS
Current assets:
Cash and cash equivalents		882,743		909,623		133,973
Short-term investments		169,565		228,179		33,607
Accounts receivable, net		2,839,945		2,750,509		405,106
Licensed copyrights, net		716,008		952,996		140,362
Prepayments and other assets		3,202,489		2,958,358		435,718

Total current assets		7,810,750		7,799,665		1,148,766

Non-current assets:
Fixed assets, net		856,116		726,666		107,026
Long-term investments		2,130,467		2,249,307		331,287
Licensed copyrights, net		1,640,582		1,157,843		170,532
Produced content, net		4,355,221		5,145,750		757,887
Operating lease assets		649,273		736,802		108,519
Goodwill		2,412,989		2,412,989		355,395
Others		1,552,160		986,015		145,225

Total non-current assets		13,596,808		13,415,372		1,975,871

Total assets		21,407,558		21,215,037		3,124,637

LIABILITIES
Current liabilities:
Accounts payable		4,193,022		3,920,413		577,414
Customer advances and deferred revenue		2,982,011		2,964,704		436,654
Long-term loans, current portion (i)		732,213		712,253		104,904
Operating lease liabilities, current portion		95,905		100,201		14,758
Accrued expenses and other liabilities		4,090,314		3,949,158		581,648

Total current liabilities		12,093,465		11,646,729		1,715,378
Non-current liabilities:
Long-term loans (i)		937,782		664,299		97,841
Operating lease liabilities		364,853		620,583		91,402
Others		630,195		528,030		77,770

Total non-current liabilities		1,932,830		1,812,912		267,013
Amounts due to the Company and its subsidiaries		13,583,317		15,618,372		2,300,338

Total liabilities		27,609,612		29,078,013		4,282,729


	Nine months ended September 30
	2019			2020			2020
	RMB			RMB			US$
Total revenues		20,116,714			20,351,564			2,997,461
Net loss		(1,943,153	)		(1,940,779	)		(285,846	)
Net cash provided by operating activities		1,644,590			259,018			38,149
Net cash used for investing activities		(2,173,941	)		(364,693	)		(53,714	)
Net cash provided by financing activities		586,135			152,753			22,498

(i)

In accordance with the arrangement as described in Note 7, the Group consolidates the securitization vehicle as it is a VIE for which the Group considers itself the primary beneficiary given the Group has the power to govern the activities that most significantly impact its economic performance and is obligated to absorb losses that could potentially be significant to the VIE. As of December 31, 2019 and September 30, 2020, RMB424,000 (US$62,448) of the loan is repayable within one year and is included in “Long-term loans, current portion” and the remaining balance of RMB527,000 (US$77,619) of the loan is included in “Long-term loans” in the carrying amounts of the liabilities of the VIEs and VIEs’ subsidiaries.

Unrecognized revenue-producing assets held by the VIEs include certain internet content provisions and other licenses, domain names and trademarks. The internet content provisions and other licenses, which are held by the VIEs that provide the relevant services, are required under relevant PRC laws, rules and regulations for the operation of Internet businesses in the PRC, and therefore are integral to the Company’s operations. The VIEs and VIEs’ subsidiaries contributed an aggregate of 94% and 91% of the Group’s consolidated revenues for the nine months ended September 30, 2019 and 2020, respectively, after elimination of inter-company transactions. As of September 30, 2020, there was no pledge or collateralization of the VIEs and VIEs’ subsidiaries’ assets that can only be used to settled obligations of the VIEs and VIEs’ subsidiaries, other than the collateralization of a VIE’s office building as described in Note 7 and the share pledge agreements and business operation agreements with respect to the VIEs contractual arrangements as disclosed in the Company’s audited consolidated financial statements for the year ended December 31, 2019.

The VIEs’ third-party creditors did not have recourse to the general credit of the Company in normal course of business. The Company did not provide or intend to provide financial or other supports not previously contractually required to the VIEs and VIEs’ subsidiaries during the years presented.

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Recently adopted accounting pronouncements

Adoption of ASU

2016-13

In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU

2016-13,

Measurement of Credit Losses on Financial Instruments

, which replaces the incurred loss impairment guidance in legacy GAAP and establishes a single allowance framework for financial assets carried at amortized cost with a methodology that requires consideration of a broader range of information to estimate credit losses. The Group adopted ASC 326,

Credit Losses

(“ASC 326”) on January 1, 2020, using a modified retrospective transition method, which resulted in a cumulative-effect adjustment to increase the opening balance of accumulated deficit on January 1, 2020 by RMB94,048.

The Group maintains an allowance for credit losses for accounts receivable and contract assets, which is recorded as an offset to accounts receivable and contract assets, and the estimated credit losses charged to the allowance is classified as “Selling, general and administrative” in the condensed consolidated statements of comprehensive loss. When similar risk characteristics exist, the Group assesses collectability and measures expected credit losses on a collective basis for a pool of assets, whereas if similar risk characteristics do not exist, the Group assesses collectability and measures expected credit losses on an individual asset basis. In determining the amount of the allowance for credit losses, the Group considers historic collection experience, the age of the accounts receivable and contract assets balances, credit quality of the Group’s customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect the customer’s ability to pay.

The allowance for credit losses on accounts receivable and contract assets

, including amounts due from related parties,

was RMB151,799 and RMB400,719 (US$59,020) as of December 31, 2019 and September 30, 2020, respectively. The provisions and write-offs charged against the allowance were RMB214,388 (US$31,576) and RMB49,194 (US$7,245), respectively, for the nine months ended September 30, 2020.

For debt securities, the allowance for credit losses reflects the Company’s estimated expected losses over the contractual lives of the debt securities and is recorded as a charge to “Other income, net” in the condensed consolidated statements of comprehensive loss. Estimated allowances of credit losses are determined by considering reasonable and supportable forecasts of future economic conditions in addition to information about past events and current conditions.

Adoption of ASU 2017-04

In January 2017, the FASB issued ASU

2017-04,

Simplifying the Test for Goodwill Impairment

, which simplifies the accounting for goodwill impairment by eliminating Step two from the goodwill impairment test. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, versus determining an implied fair value in Step two to measure the impairment loss. The Company adopted this guidance on a prospective basis on January 1, 2020 with no material impact on its consolidated financial statements and related disclosures as a result of adopting the new standard.

Adoption of ASU

2019-02

In March 2019, the FASB issued ASU

2019-02,

Improvements to Accounting for Costs of Films and License Agreements for Program Materials

(“ASU

2019-02”)

which includes the following major changes from previous legacy GAAP that are applicable to the Group:

•

The content distinction for capitalization of production costs of an episodic television series and production costs of films is removed;

•

Entities are required to test films and license agreements for program material for impairment at a film group level when the film or license agreements are predominantly monetized with other films and license agreements;

•

Entities shall assess estimates of the use of a film in a film group and account for such changes prospectively;

•

Cash outflows for the costs incurred to obtain rights for both produced and licensed content are required t

be reported as operating cash outflows in the statement of cash flows.

The Group adopted ASU

2019-02

on January 1, 2020, using a prospective transition method. For the nine months ended September 30, 2020, cash outflows for the costs incurred to acquired licensed copyrights are reported as operating cash outflows in the Group’s condensed consolidated statement of cash flows whereas they were reported as investing cash outflows prior to the adoption of ASU

2019-02.

There was no material impact to the condensed consolidated balance sheet or condensed consolidated statement of comprehensive loss. See the Group’s updated accounting policies for Produced Content and Licensed Copyrights below for further details.

To supplement cash flow disclosure of operating activities in 2020, cash paid for content, which includes both licensed copyrights and produced content, is RMB11,941,392 (US$1,758,777) for the nine months ended September 30, 2020.

Produced content, net

The Group produces original content

in-house

and collaborates with external parties. Produced content primarily consists of films, episodic series, variety shows and animations. The costs incurred in the physical production of original content includes direct production costs, production overhead and acquisition costs. Production costs for original content that are predominantly monetized in a film group are capitalized and reported separately as

non-current

assets with caption of “Produced content, net” on the condensed consolidated balance sheets. Production costs for original content predominantly monetized on its own are capitalized to the extent that they are recoverable from total revenues expected to be earned (“ultimate revenue”); otherwise, they are expensed as cost of revenues. Ultimate revenue estimates include revenue expected to be earned from all sources, including exhibition, licensing, or exploitation of produced content if the Group has demonstrated a history of earning such revenue. The Group estimates ultimate revenue to be earned during the economic useful lives of produced content based on anticipated release patterns and historical results of similar produced content, which are identified based on various factors, including cast and crew, target audience and popularity. Produced content also includes cash expenditures made to acquire a proportionate share of certain rights to films including profit sharing, distribution and/or other rights. Exploitation costs are expensed as incurred.

For produced content that is predominantly monetized in a film group, the Group amortizes film costs using an accelerated method based on historical and estimated future viewership consumption patterns. For produced content that is monetized on its own, the Group amortizes film costs using an accelerated method based on historical and estimated usage patterns of similar produced content, which represents the Group’s best estimate of usage. Based on the estimated patterns, the Group amortizes produced content within ten years, beginning with the month of first availability and such costs are included in “Cost of revenues” in the condensed consolidated statement of comprehensive loss.

Licensed copyrights, net

Licensed copyrights consist of professionally-produced content such as films, television series, variety shows and other video content acquired from external parties. The license fees are capitalized and, unless prepaid, a corresponding liability is recorded when the cost of the content is known, the content is accepted by the Group in accordance with the conditions of the license agreement and the content is available for its first showing on the Group’s websites. Licensed copyrights are presented on the condensed consolidated balance sheet as current and

non-current

based on estimated time of usage.

The Group’s licensed copyrights include the right to broadcast and, in some instances, the right to sublicense. The broadcasting right, refers to the right to broadcast the content on its own websites and the sublicensing right, refers to the right to sublicense the underlying content to external parties. When licensed copyrights include both broadcasting and sublicensing rights, the content costs are allocated to these two rights upon initial recognition, based on the relative proportion of the estimated total revenues that will be generated by each right over its economic useful lives.

For the right to broadcast the contents on its own websites that generates online advertising and membership services revenues, the content costs are amortized using an accelerated method based on historical and estimated future viewership consumption patterns by categories over the shorter of each content’s contractual period or economic useful lives within ten years, beginning with the month of first availability. Estimates of future viewership consumption patterns and economic useful lives are reviewed periodically, at least on an annual basis and revised, if necessary. Revisions to the amortization patterns are accounted for as a change in accounting estimate prospectively in accordance with ASC topic 250 (“ASC 250”),

Accounting Changes and Error Corrections.

For the right to sublicense the content to external parties that generates direct content distribution revenues, the content costs are amortized based on its estimated usage pattern and recorded as cost of revenues.

Change in accounting estimates of licensed copyrights and produced content

2020, the Group reviewed and revised its estimates of the estimated future viewership consumption patterns and extended the

estimated

useful lives of its licensed copyrights and produced content to better reflect the usage of these content assets. As a result of these revisions, amortization expense decreased by

RMB

398,469 (US$58,688)

, net loss decreased by

RMB398,469

(US$58,688), and basic and diluted net loss per Class A and Class B ordinary share decreased by RMB0.08 (US$0.01) for the

nine

months ended September 30, 2020.

Impairment of licensed copyrights and produced content

Our business model is mainly subscription and advertising based, as such the majority of the Group’s content assets (licensed copyrights and produced content) are predominantly

onetized with other content assets, whereas a smaller portion of the Group’s content assets are predominantly monetized at a specific title level such as variety shows and investments in a proportionate share of certain rights to films including profit sharing, distribution and/or other rights. Because the identifiable cash flows related to content launched on our Mainland China platform are largely independent of the cash flows of other content launched on our overseas platform, the Group has identified two separate film groups. The Group reviews its film groups and individual content for impairment when there are events or changes in circumstances that indicate the fair value of a film group or individual content may be less than its unamortized costs. Examples of such events or changes in circumstances include, a significant adverse change in technological, regulatory, legal, economic, or social factors that could affect the fair value of the film group or the public’s perception of a film or the availability of a film for future showings, a significant decrease in the number of subscribers or forecasted subscribers, or the loss of a major distributor, a change in the predominant monetization strategy of a film that is currently monetized on its own, actual costs substantially in excess of budgeted costs, substantial delays in completion or release schedules, or actual performance subsequent to release failing to meet expectations set before release such as a significant decrease in the amount of ultimate revenue expected to be recognized.

When such events or changes in circumstances are identified, the Group assesses whether the fair value of an individual content (or film group) is less than its unamortized film costs, determines the fair value of an individual cont

nt (or film group) and recognizes an impairment charge for the amount by which the unamortized capitalized costs exceed the individual content’s (or film group’s) fair value. The Group mainly uses an income approach to determine the fair value of an individual content or film group, for which the most significant inputs include forecasted future revenues, costs and operating expenses attributable to the film group and the discount rate. An impairment loss attributable to a film group is allocated to individual licensed copyrights and produced content within the film group on a pro rata basis using the relative carrying values of those assets as the Group cannot estimate the fair value of individual contents in the film group without undue cost and effort.

Comparative Information

Certain items in the assets of the VIEs and VIEs’ subsidiaries included in the Company’s condensed consolidated balance sheets have been adjusted to conform with the current year’s presentation to facilitate comparison.

Convenience translation

Translations of amounts from RMB into US$ for the convenience of the reader have been calculated at the exchange rate of RMB6.7896 per US$1.00 on September 30, 2020, as published on the website of the United States Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into U.S. dollars at such rate.

Use of estimates

The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Management evaluates estimates, including those related to the standalone selling prices of performance obligations of revenue contracts, accrued sales rebates for online advertising revenues, the allowance for credit losses of accounts receivable, contract assets and debt securities, future viewership consumption patterns and useful lives of licensed copyrights and produced content, future revenues generated by the broadcasting and sublicensing rights of content assets (licensed and produced) , useful lives of certain finite-lived intangible assets, fair values of certain debt and equity investments, recoverability and useful lives of long-lived assets, recoverability of indefinite-lived intangible assets and goodwill, ultimate revenue of produced content predominantly monetized on its own, fair values of licensed copyrights and produced content monetized as a film group or individually, the purchase price allocation and fair value of noncontrolling interests with respect to business combinations, fair value of nonmonetary content exchanges, fair value of financial instruments, fair value of share options to purchase the Company’s ordinary shares, forfeiture rates for share options granted, valuation allowances on deferred tax assets and income tax uncertainties, among others. Management bases these estimates on its historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates.

Revenue recognition

The Group’s revenues are derived principally from membership services, online advertising services and content distribution. Revenue is recognized when control of promised goods or services is transferred to the Group’s customers in an amount of consideration to which an entity expects to be entitled to in exchange for those goods or services. Value added taxes (“VAT”) are presented as a reduction of revenues.

The Group’s revenue recognition policies are as follows:

Membership services

The Group offers membership services to subscribing members with various privileges, which primarily including access to exclusive and

ad-free

streaming of premium content 1080P/4K high-definition video, Dolby Audio, and accelerated downloads and others. When the receipt of membership fees is for services to be delivered over a period of time, the receipt is initially recorded as deferred revenue and revenue is recognized ratably over the membership period as services are rendered. Membership services revenue also includes fees earned from subscribing members for

on-demand

content purchases and early access to premium content. The Group is the principal in its relationships where partners, including consumer electronics manufacturers (TVs and cell phones), mobile operators and internet service providers, provide access to the membership services as the Group retains control over its service delivery to its subscribing members. Typically, payments made to the partners, such as for payment processing services, are recorded as cost of revenues. For the sale of the right to services, such as cooperation with other parties’ memberships, the Group recognizes revenue on a net basis when the Group does not control the specified services before they are transferred to the customer.

Online advertising services

The Group sells advertising services primarily to third-party advertising agencies and a small portion are sold d

rectly to advertisers. Advertising contracts are signed to establish the price and advertising services to be provided. Pursuant to the advertising contracts, the Group provides advertisement placements on its websites in different formats, including but not limited to video, banners, links, logos, brand placement and buttons. The Group performs a credit assessment of the customer to assess the collectability of the contract price prior to entering into contracts. For contracts where the Group provides customers with multiple performance obligations, primarily for advertisements to be displayed in different spots, placed under different forms and occur at different times, the Group would evaluate all the performance obligations in the arrangement to determine whether each performance obligation is distinct. Consideration is allocated to each performance obligation based on its standalone selling price and revenue is recognized as each performance obligation is satisfied through the Group’s display of the advertisements in accordance with the revenue contracts.

The Group provides various sales incentives to its customers for meeting certain cumulative purchase volume requirements, including cash rebates to certain third-party advertising agencies and noncash credits which can be used to acquire future online advertising services in certain bundled arrangements, which are negotiated on a contract by contract basis with customers. The Group accounts for cash rebates granted to customers as variable consideration which is measured based on the most likely amount of incentive to be provided to customers. Noncash credits granted to customers are considered options to acquire additional services that provide customers with a material right. The contract consideration related to these customer options to acquire additional services are deferred and recognized as revenue when future services are transferred or when the options expire.

Content distribution

The Group generates revenues from

sub-licensing

content licensed from vendors for cash or through nonmonetary exchanges mainly with other online video broadcasting companies. The exclusive licensing agreements the Group enters into with the vendors has a specified license period and provides the Group rights to

sub-license

these contents to other parties. The Group enters into a

non-exclusive

sub-license

agreement with a

sub-licensee

for a period that falls within the original exclusive license period. For cash

sub-licensing

transactions, the Group is entitled to receive the

sub-license

fee under the

sub-licensing

arrangements and does not have any future obligation once it has provided the underlying content to the

sub-licensee

(which is provided at or before the beginning of the

sub-license

period). The

sub-licensing

of content represents a license of functional intellectual property which grants a right to use the Group’s licensed copyrights and is recognized at the point in time when the licensed copyright is made available for the customer’s use and benefit.

The Group also enters into nonmonetary transactions to exchange online broadcasting rights of licensed copyrights with other online video broadcasting companies from time to time. The exchanged licensed copyrights provide rights for each party to broadcast the licensed copyrights received on its own website only. Each transferring party retains the right to continue broadcasting the exclusive content on its own website and/or sublicense the rights to the content it surrendered in the exchange. The Group accounts for these nonmonetary exchanges based on the fair value of the asset received. Barter sublicensing revenues are recognized in accordance with the same revenue recognition criteria above. T

e Group estimates the fair value of the licensed copyrights received using a market approach based on various factors, including the purchase price of similar

non-exclusive

and/or exclusive contents, broadcasting schedule, cast and crew, theme and box office. The attributable cost of sublicensing transactions, whether for cash or through nonmonetary exchanges, is recognized as cost of revenues through the amortization of the sublicensing right component of the exclusive licensed copyright.

The Group recognized barter sublicensing revenues of RMB493,570 and RMB957,675 (US$141,050) and related costs of RMB411,921 and RMB710,199 (US$104,601) for the nine months ended September 30, 2019 and 2020, respectively.

Others

Other revenues mainly include revenues from live broadcasting and online games.

Live broadcasting

The Group operates a live broadcasting platform, iQIYI Show, whereby users can follow their favorite hosts and shows in real time through live broadcasting. Users can purchase virtual currency for usage in iQIYI Show to acquire consumable virtual gifts, which are simultaneously presented to hosts to show their support or time-based virtual items, which enables users to enjoy additional functions and privileges for a specified time period.

The Group operates the live broadcasting platform and determines the price of virtual items sold. Therefore, revenues derived from the sale of virtual items are recorded on a gross basis as the Group acts as the principal in the transaction. Costs incurred from services provided by the hosts are recognized as cost of revenues. To facilitate the sale of virtual items, the Group bundles special privileges and virtual items as a package at a discounted price and the Group allocates the arrangement consideration to each performance obligation based on their relative standalone selling prices. Revenue from the sale of consumable virtual gifts is recognized when consumed by the user, or, in the case of time-based virtual items, recognized ratably over the period each virtual item is made available to the user. Virtual currency sold but not yet consumed by the purchasers is recorded as “Customer advances and deferred revenue” on the condensed consolidated balance sheets.

Online games

The Group operates mobile games including both self-developed and licensed mobile games and generates mobile game revenues from the sale of

in-game

virtual items, including items, avatars, skills, privileges or other

in-game

consumables, features or functionality, within the games.

The Group records revenue generated from mobile games on a gross basis if the Group acts as the principal in the mobile game arrangements under which the Group controls the specified services before they are provided to the customer. In addition, the Group is primarily responsible for fulfilling the promise to provide maintenance services and has discretion in setting the price for the services to the customer. Otherwise, the Group records revenue on a net basis based on the ratios

pre-determined

with the online game developers when all the revenue recognition criteria set forth in ASC 606 are met, which is generally when the user purchases virtual currencies issued by the game developers.

For transactions where the Group is the principal, the Group determines that the

in-game

virtual items are identified as performance obligations. The Group provides

on-going

services to the

end-users

who purchase virtual items to gain an enhanced game-playing experience. Accordingly, the Group recognizes revenues ratably over the estimated average playing period of these paying players, starting from the point in time when virtual items are delivered to the players’ accounts.

Contract balances

When either party to a revenue contract has performed, the Group presents the contract in the condensed consolidated balance sheets as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment.

Contract assets represent unbilled amounts related to the Group’s rights to consideration for advertising services delivered and are included in “Prepayments and other assets” on the condensed consolidated balance sheets. As of December 31, 2019, and September 30, 2020, contract assets were RMB1,875,704 and RMB1,590,327 (US$234,230), respectively, net of an allowance for credit losses of RMB7,225 and RMB11,389 (US$1,677), respectively.

Contract liabilities are the Group’s obligation to transfer goods or services to customers for which the Group has received consideration from customers, which

are

comprised of: i) payments received for membership fees and other services; ii) virtual currency sold for which the corresponding

services have not yet been provided to

customers

;

and

iii) noncash credits granted to customers. Contract liabilities are primarily presented as “Customer advances and deferred revenue” on the condensed consolidated balance sheets. Balances of contract liabilities were RMB3,954,763 and RMB3,957,230 (US$582,837) as of December 31, 2019 and September 30, 2020, respectively. Revenue recognized for the nine months ended September 30, 2020 that was included in contract liabilities as of January 1, 2020 was RMB2,694,143 (US$396,804).

Practical Expedients and Exemptions

The Group does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Group recognizes revenue at the amount to which it has the right to invoice for services performed.

Concentration of credit risks

Financial instruments that potentially subject the Group to significant concentration of credit risk primarily consist of cash and cash equivalents, restricted cash, short-term investments, accounts receivable and contract assets. The carrying amounts of these assets represent the Group’s maximum exposure to credit risk. As of September 30, 2020, the Group has RMB3,818,781 (US$562,445) in cash, cash equivalents and restricted cash, which is held in cash and demand deposits with several financial institutions primarily in the PRC and Hong Kong. In the event of bankruptcy of one of these financial institutions, the Group may not be able to claim its cash and demand deposits back in full. The Group continues to monitor the financial strength of the financial institutions.

Accounts receivable and contract assets are typically unsecured and denominated in RMB, derived from revenue earned from customers and agencies in the PRC, which are exposed to credit risk. The risk is mitigated by credit evaluations the Group performs on its customers and its ongoing monitoring process of outstanding balances. The Group maintains an allowance for credit losses and actual losses have generally been within management’s expectations. As of December 31, 2019, and September 30, 2020, the Group had no single customer with a balance exceeding 10% of the total accounts receivable and contract assets balance.

Going concern

The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The Company had a working capital deficit of RMB4,940.0 million (US$727.6 million) as of September 30, 2020. In accordance with the terms of the Company’s US$750 million 2023 Convertible Senior Notes

the holders of the notes may request the Company to repurchase a portion or all of the outstanding notes on December 1, 2021.

In order to address its working capital deficit as of September 30, 2020 and to meet its obligations as they become due within one year after the date that the interim condensed consolidated financial statements are issued, the Company may rely on debt financing on fully implemented but unused credit lines from commercial banks

, additional financing generated through the sale of the Company’s debt and/or equity securities and

financial support from shareholder. The Company believes its current cash and cash equivalents, restricted cash, short-term investments, proceeds expected from future financings and

available

financial support from shareholder will provide sufficient funds to meet the Company’s obligations as they become due, and there is no substantial doubt raised about the Company’s ability to continue as a going concern.

Impact of COVID-19

During the nine months ended September 30, 2020,

COVID-19

has had limited impact on the Group’s operations, including delays in the production and scheduling of certain new content, lower work efficiency and productivity and service quality. However,

COVID-19

has also resulted in a decline in the Group’s online advertising revenues, an increase in expected credit losses and impairment charges to the Group’s content assets. There are still uncertainties of

COVID-19’s

future impact, and the extent of the impact will depend on a number of factors, including the duration and severity of the pandemic; the uneven impact to certain industries; and the macroeconomic impact of government measures to contain the spread of

COVID-19

and related government stimulus measures. As a result, certain of the Group’s estimates and assumptions, including the allowance for credit losses, the valuation of

non-marketable

equity securities and fair value of financial assets or long-lived assets subject to impairment assessments and fair value of film group, require increased judgment and carry a higher degree of variability and volatility that could result in material changes to the Group’s estimates in future periods.

For further information of other significant accounting policies, see Note 2 to the consolidated financial statements included in the Company’s annual report on Form

20-F

for the year ended December 31, 2019, filed with the Commission on March 12, 2020.

Recently issued but not yet adopted accounting pronouncements

In August 2020, the FASB issued ASU

No. 2020-06,

Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

(“ASU

2020-06”),

which focuses on amending the legacy guidance on convertible instruments and the derivatives scope exception for contracts in an entity’s own equity. ASU

2020-06

simplifies an issuer’s accounting for convertible instruments by reducing the number of accounting models that require separate accounting for embedded conversion features. ASU

2020-06

also simplifies the settlement assessment that entities are required to perform to determine whether a contract qualifies for equity classification. Further, ASU

2020-06

enhances information transparency by making targeted improvements to the disclosures for convertible instruments and

earnings-per-share

(EPS) guidance, i.e., aligning the diluted EPS calculation for convertible instruments by requiring that an entity use the

if-converted

method and that the effect of potential share settlement be included in the diluted EPS calculation when an instrument may be settled in cash or shares, adding information about events or conditions that occur during the reporting period that cause conversion contingencies to be met or conversion terms to be significantly changed. This update will be effective for the Group’s fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Entities can elect to adopt the new guidance through either a modified retrospective method of transition or a fully retrospective method of transition. The Group is currently in the process of evaluating the impact of adopting ASU

2020-06

on its consolidated financial statements and related disclosure.

Shareholders' Equity

9 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

3. SHAREHOLDERS’ EQUITY

The changes in shareholders’ equity for the nine months ended September 30, 2019 and 2020 are as follows:


	Attributable to iQIYI, INC.
	Ordinary shares				Additional paid-in capital			Accumulated other comprehensive income
	Number of shares		Amount		Additional paid-in capital			Accumulated other comprehensive income		Accumulated deficit			Noncontrolling interests		Total Shareholders’ equity
			RMB		RMB			RMB		RMB			RMB		RMB
Balances as of December 31, 2018		5,075,817,301		321		39,666,150			1,879,946		(23,509,486	)		118,632		18,155,563
Net loss attributable to iQIYI, Inc.		—		—		—			—		(7,829,544	)		28,714		(7,800,830	)
Other comprehensive income		—		—		—			612,035		—			1,107		613,142
Exercise of share-based awards		41,428,030		3		93,057			—		—			—		93,060
Share-based compensation		—		—		769,527			—		—			—		769,527
Equity component of convertible senior notes, net of issuance costs		—		—		987,691			—		—			—		987,691
Purchase of capped call		—		—		(567,140	)		—		—			—		(567,140	)
Issuance of subsidiaries’ shares to noncontrolling interest holders		—		—		—			—		—			3,500		3,500
Acquisition of noncontrolling interests in a subsidiary		—		—		(71,620	)		—		—			6,620		(65,000	)

Balances as of September 30, 2019		5,117,245,331		324		40,877,665			2,491,981		(31,339,030	)		158,573		12,189,513


	Attributable to iQIYI, INC.
	Ordinary shares				Additional paid-in capital			Accumulated other comprehensive income
	Number of shares		Amount		Additional paid-in capital			Accumulated other comprehensive income		Accumulated deficit			Noncontrolling interests			Total Shareholders’ equity
			RMB		RMB			RMB		RMB			RMB			RMB
Balances as of December 31, 2019		5,135,516,521		325		41,298,328			2,106,718		(33,834,357	)		42,376			9,613,390
Cumulative effect of adopting ASC 326		—		—		—			—		(94,048	)		—			(94,048	)
Net loss attributable to iQIYI, Inc.		—		—		—			—		(5,490,747	)		15,665			(5,475,082	)
Exercise of share-based awards		59,727,931		4		165,974			—		—			—			165,978
Other comprehensive income		—		—		—			167,558		—			(1,092	)		166,466
Issuance of a subsidiary’s shares to noncontrolling interest holders		—		—		(918	)		—		—			1,032			114
Accretion of a redeemable noncontrolling interest		—		—		—			—		(5,260	)		—			(5,260	)
Dividends paid and payable by a subsidiary		—		—		—			—		—			(22,563	)		(22,563	)
Share-based compensation		—		—		1,021,116			—		—			—			1,021,116
Others		—		—		(20,026	)		—		—			20,026			—

Balances as of September 30, 2020		5,195,244,452		329		42,464,474			2,274,276		(39,424,412	)		55,444			5,370,111

Balances as of September 30, 2020, in US$				49		6,254,341			334,965		(5,806,588	)		8,166			790,933

Long-term Investments

9 Months Ended

Sep. 30, 2020

Schedule Of Investments [Abstract]

LONG-TERM INVESTMENTS

4. LONG-TERM INVESTMENTS

The Group’s long-term investments primarily consist of equity investments at fair value without readily determinable fair value, equity method investments and

held-to-maturity

debt securities accounted for at amortized cost.

Equity investments at fair value without readily determinable fair value

As of December 31, 2019, and September 30, 2020, the carrying amount of the Company’s equity investments without readily determinable fair value were as follows:


	As of
	December 31, 2019			September 30, 2020			September 30, 2020
	RMB			RMB			US$
Initial cost basis		1,797,421			2,677,423			394,342
Cumulative unrealized gains		196,663			235,258			34,650
Cumulative unrealized losses (including impairment)		(181,274	)		(247,468	)		(36,448	)

Total carrying amount		1,812,810			2,665,213			392,544

Impairment charges recognized on equity investments measured at fair value using the measurement alternative were RMB27,100 and RMB73,199 (US$10,781) for the nine months ended September 30, 2019 and 2020, respectively.

Total realized and unrealized gains and losses for equity securities without readily determinable fair values for the nine months ended September 30, 2019 and 2020 were as follows:


	For the nine months ended September 30,
	2019		2020			2020
	RMB		RMB			US$
Gross unrealized gains (upward adjustments)		6,076		38,595			5,685
Gross unrealized losses (downward adjustments excluding impairment)		—		(495	)		(73	)

Net unrealized gains and losses on equity securities held		6,076		38,100			5,612
Net realized gains on equity securities sold		—		—			—

Total net gains recognized in other income, net		6,076		38,100			5,612

Equity method investments

In July 2018, the Group acquired a 32% outstanding equity interest amounting to RMB796,000 in Beijing Xin’ai Sports Media Technology co., LTD (or “Xin’ai”) that is engaged in the operation of a sports content platform. The Group has significant influence over the investee and therefore accounts for its equity interest as an equity method investment. The excess of the carrying value of the investment over the proportionate share of Xin’ai’s net assets of RMB609,502 was recognized as basis differences and investment goodwill. As of September 30, 2020, the Group’s equity interest in

Xin’ai

was diluted to 24% due to subsequent rounds of equity financing.

As of December 31, 2019 and September 30, 2020,

the Group also held several other equity method investments through its subsidiaries or VIEs, all of which the Group can exercise significant influence but does not own a majority equity interest in or has control over.

The other equity method investments were not significant. The carrying amount of the Group’s equity method investments including Xin’ai was RMB663,376 and RMB552,437 (US$81,365) as of December 31, 2019 and September 30, 2020, respectively.

Held-to-maturity

debt securities

In 2019, the Group purchased US$71,000 of

held-to-maturity

debt securities with maturities of two years from a financial institution and pledged them as collaterals against certain long-term loans (Note 7). As of September 30, 2020, the carrying value of long-term

held-to-maturity

debt securities was RMB482,462 (US$71,059). As of December 31, 2019 and September 30, 2020, the gross unrecognized holding losses were RMB4,911 and nil, respectively, and the gross unrecognized holding gains were nil and RMB13,071 (US$1,925), respectively.

Licensed Copyrights, Net

9 Months Ended

Sep. 30, 2020

Finite Lived License Agreements Abstract

LICENSED COPYRIGHTS, NET

5. LICENSED COPYRIGHTS, NET


	As of December 31, 2019
	Gross carrying value		Accumulated amortization			Impairment amount			Net carrying value
	RMB		RMB			RMB			RMB
Licensed copyrights
—Broadcasting rights		32,038,423		(24,500,895	)		(25,317	)		7,512,211
—Sublicensing rights		4,632,586		(4,632,586	)		—			—

		36,671,009		(29,133,481	)		(25,317	)		7,512,211

Less: current portion:
—Broadcasting rights		11,752,412		(10,502,214	)		(25,317	)		1,224,881
—Sublicensing rights		4,632,586		(4,632,586	)		—			—

		16,384,998		(15,134,800	)		(25,317	)		1,224,881

Licensed copyrights—non-current
—Broadcasting rights		20,286,011		(13,998,681	)		—			6,287,330
—Sublicensing rights		—		—			—			—

		20,286,011		(13,998,681	)		—			6,287,330


	As of September 30, 2020
	Gross carrying value		Accumulated amortization			Impairment amount			Net carrying value
	RMB		RMB			RMB			RMB		US$
Licensed copyrights
—Broadcasting rights		36,240,889		(28,588,974	)		(365,799	)		7,286,116		1,073,128
—Sublicensing rights		5,613,400		(5,590,590	)		—			22,810		3,360

		41,854,289		(34,179,564	)		(365,799	)		7,308,926		1,076,488

Less: current portion:
—Broadcasting rights		8,889,238		(7,618,439	)		(46,194	)		1,224,605		180,364
—Sublicensing rights		5,613,400		(5,590,590	)		—			22,810		3,360

		14,502,638		(13,209,029	)		(46,194	)		1,247,415		183,724

Licensed copyrights—non-current
—Broadcasting rights		27,351,651		(20,970,535	)		(319,605	)		6,061,511		892,764
—Sublicensing rights		—		—			—			—		—

		27,351,651		(20,970,535	)		(319,605	)		6,061,511		892,764

Amortization expense of RMB9,531,104 and RMB8,599,610 (US$1,266,586) for the nine months ended September 30, 2019 and 2020, respectively, was recognized as cost of revenues. Estimated amortization expense relating to the existing licensed copyrights for each of the next three years is as follows:


	RMB		US$
Three months ending December 31, 2020		1,510,992		222,545
Year ending December 31, 2021		2,660,860		391,902
Year ending December 31, 2022		1,112,819		163,901
Year ending December 31, 2023		668,234		98,420

To supplement cash flow disclosure of investing activities in 2019, acquisition of licensed copyrights included in current liabilities and from nonmonetary content exchanges for the nine months ended September 30, 2019 are RMB6,540,834 and RMB746,255, respectively.

Produced Content, Net

9 Months Ended

Sep. 30, 2020

Film Costs [Abstract]

PRODUCED CONTENT, NET

6. PRODUCED CONTENT, NET


	As of December 31,
	2019
	RMB
Released, less amortization		891,574
In production		3,074,946
In development		388,701

		4,355,221


	As of September 30,
	2020		2020
	RMB		US$
Released, less amortization and impairment
— Predominantly monetized with other content assets		1,516,977		223,427
— Predominantly monetized on its own		54,122		7,971

		1,571,099		231,398
In production, less impairment
— Predominantly monetized with other content assets		2,897,231		426,716
— Predominantly monetized on its own		182,873		26,934

		3,080,104		453,650
In development, less impairment
— Predominantly monetized with other content assets		774,712		114,103
— Predominantly monetized on its own		91,180		13,429

		865,892		127,532
Total		5,517,095		812,580

Amortization expense of

RMB2,228,522 (US$328,225)

and

837,583 (US$123,363)

was recognized as cost of revenues in the condensed consolidated statement of comprehensive loss for the nine months ended September 30, 2020, for produced content predominantly monetized with other content assets and for produced content predominantly monetized on its own, respectively. Amortization expense for produced content was RMB2,324,085 for the nine months ended September 30, 2019. Estimated amortization expense relating to produced content that has been released for each of the next three years is as follows:


	RMB		US$
Three months ending December 31, 2020		326,064		48,024
Year ending December 31, 2021		421,467		62,075
Year ending December 31, 2022		214,681		31,619
Year ending December 31, 2023		147,147		21,672

Loans Payable	9 Months Ended
Loans Payable	Sep. 30, 2020
Debt Disclosure [Abstract]
LOANS PAYABLE	7. LOANS PAYABLE Short-term Loans Short-term loans as of December 31, 2019 and September 30, 2020 amounted to RMB2,618,170 and RMB3,804,396 (US$560,327), respectively, which consisted of secured RMB denominated borrowings from financial institutions in the PRC that are repayable within one year. As of December 31, 2019, and September 30, 2020, the repayments of primarily all of the short-term loans are guaranteed by subsidiaries within the Group and either collateralized by an office building of one of the Group’s VIEs with a carrying amount of RMB561,515 and RMB551,734 (US$81,262), respectively, or collateralized by restricted cash balances totaling US$138,572 and US$93,572 (equivalent to RMB635,316), respectively. The weighted average interest rate for the outstanding borrowings as of December 31, 2019 and September 30, 2020 was 4.05% and 4.21%, respectively. As of December 31, 2019, and September 30, 2020, the aggregate amounts of unused lines of credit for short-term loans were RMB1,620,520 and RMB1,682,054 (US$247,740), respectively. Structured payable arrangements In 2020, the Group entered into structured payable arrangements with banks or other financial institutions (“factoring arrangements”), which extended the original payment terms. Under the factoring arrangements, the suppliers’ receivables collection process was accelerated through selling its receivables from the Group to the banks or other financial institutions at a discount. The Group was legally obligated to pay the banks or other financial institutions in the amount totaling RMB395,943 (US$58,316 ), maturing within one year. As a result of the factoring arrangements, the payment terms of the Group’s original accounts payables were substantially modified and considered extinguished as the nature of the original liability has changed from accounts payables to loan borrowings from banks or other financial institutions. The proceeds from borrowings from banks or other financial institutions is a financing activity and is reported as “Proceeds from short-term loans” on the condensed consolidated statements of cash flows. As of September 30, 2020, the outstanding borrowings from the factoring arrangements wer e RMB384,428 (US$56,620), which is repayable within one year and are included in “Short-term loans” on the condensed consolidated balance sheets. Long-term Loans In 2017, the Group borrowed a secured RMB denominated loan of RMB299,000 with an interest rate of 4.47% for a three-year term from the Bank of China for its general working capital purposes. Pursuant to the agreement, the principal shall be repaid by installments from 2017 to 2020. T he repayment of the loan is guaranteed by a subsidiary of the Group and collateralized by an office building of one of the Group’s VIEs with a carrying amount of RMB561,515. Principal repayments were made on the loan when they became due and amounted to RMB5,000 and RMB274,000 (US$40,356) for the nine months ended September 30, 2019 and 2020, respectively. The loan was fully repaid as of September 30, 2020. In 2019, the Group entered into a two-year loan agreement with JPMorgan Chase Bank, N.A., pursuant to which the Group is entitled to borrow a secured RMB denominated loan of RMB800,000 for its general working capital purposes. In 2019, the Group drew down RMB447,949 with an interest rate of 3.55%. Pursuant to the agreement, the principal shall be repaid in installments from 2019 to 2021. As of December 31, 2019 and September 30, 2020, the repayment of the loan is collateralized by long-term held-to-maturity debt securities with a stated cost of US$71,000 and US$71,000 (equivalent to RMB482,062), respectively (Note 4). Principal repayments were made on the loan when they became due and amounted to RMB nil and RMB19,444 (US$2,864) for the nine months ended September 30, 2019 and 2020, respectively. The amount repayable within the next twelve months are classified as “Long-term loans, current portion”. Borrowings from third-party investors Asset-backed debt securities In December 2018, certain supplier invoices selected by the Group totaling RMB525,279 were factored to a financial institution (the “2018 factored receivables”) at a discount. These supplier invoices were recorded as accounts payables in the Group’s condensed consolidated balance sheets. The 2018 factored receivables were further transferred to a securitization vehicle, whereby debt securities securitized by the 2018 factored receivables, maturing in December 2019 and December 2020, were issued to third party investors with a stated interest of 5.0%-5.5% and raised total gross proceeds of RMB446,000. In November 2019, certain supplier invoices selected by the Group totaling RMB587,000 were factored to a financial institution (the “2019 factored receivables”) at a discount. These supplier invoices were recorded as accounts payables in the Group’s condensed consolidated balance sheets. The 2019 factored receivables were further transferred to a securitization vehicle, whereby debt securities securitized by the 2019 factored receivables, maturing in November 2021, were issued to third party investors with a stated interest of 5.1% and raised total gross proceeds of RMB500,000. The proceeds raised from issuance of the asset-backed debt securities were used by the financial institutions to factor the supplier invoices. At the same time, the credit terms of the Group’s corresponding trade payables were extended to mirror the maturity of the asset-backed debt securities. Accounting for asset-backed debt securities The Group consolidates the securitization vehicles as VIEs for which the Group considers itself the primary beneficiary given the Group has the power to govern the activities that most significantly impact its economic performance and is obligated to absorb losses that could potentially be significant to the VIEs. As a result of the series of transactions described above, the payment terms of the Group’s original trade payables were substantially modified and considered extinguished as the nature of the original liability has changed from that of a trade payable to loan borrowings from third-party investors. The proceeds from borrowings from third-party investors is a financing activity and reported as “Proceeds from long-term loans and borrowings from third party investors, net of issuance costs” on the condensed consolidated statements of cash flows. As of December 31, 2019 and September 30, 2020, the outstanding borrowings from asset-backed debt securities were RMB898,097 and RMB936,100 (US$137,873). RMB74,992 of 2018 asset-backed debt securities was repaid when it became due in December 2019. RMB445,113 (US$65,558) of asset-backed debt securities is repayable within one year and are included in “Long-term loans, current portion” and the remaining balance of RMB490,987 (US$72,315) of 2019 asset-backed debt securities is included in non-current “Long-term loans” on the condensed consolidated balance sheets. The effective interest rate of 2018 asset-backed debt securities and 2019 asset-backed debt securities was 7.00% and 5.97%, respectively.

Convertible Senior Notes	9 Months Ended
Convertible Senior Notes	Sep. 30, 2020
Debt Disclosure [Abstract]
CONVERTIBLE SENIOR NOTES	8. CONVERTIBLE SENIOR NOTES 2023 Convertible Senior Notes On December 4, 2018, the Company issued US$750 million convertible senior notes (the “2023 Notes”). The 2023 Notes are senior, unsecured obligations of the Company, and interest is payable semi-annually in cash at a rate of 3.75% per annum on June 1 and December 1 of each year, beginning on June 1, 2019. The 2023 Notes will mature on December 1, 2023 unless redeemed, repurchased or converted prior to such date. The initial conversion rate of the 2023 Notes is 37.1830 of the Company’s ADS per US$1,000 principal amount of the 2023 Notes (which is equivalent to an initial conversion price of approximately US$26.89 per ADS). Prior to June 1, 2023, the 2023 Notes will be convertible at the option of the holders only upon the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on March 31, 2019, if the last reported sale price of ADSs for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price; (2) during the five business day period after any ten consecutive trading day period in which the trading price per US$1,000 principal amount of notes was less than 98% of the product of the last reported sale price of the ADSs and the conversion rate on each such trading day; (3) if the Company calls the notes for a tax redemption; or (4) upon the occurrence of specified corporate events. Thereafter, the 2023 Notes will be convertible at the option of the holders at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The conversion rate is subject to adjustment in some events but is not adjusted for any accrued and unpaid interest. In addition, following a make-whole fundamental change that occurs prior to the maturity date or following the Company’s delivery of a notice of a tax redemption, the Company will increase the conversion rate for a holder who elects to convert its notes in connection with such a corporate event or such tax redemption. Upon conversion, the Company will pay or deliver to such converting holders, as the case may be, cash, ADSs, or a combination of cash and ADSs, at its election. The holders may require the Company to repurchase all or portion of the 2023 Notes for cash on December 1, 2021, or upon a fundamental change, at a repurchase price equal to 100% of the principal amount, plus accrued and unpaid interest. In connection with the issuance of the 2023 Notes, the Company purchased capped call options (the “2023 Capped Call”) on the Company’s ADS with certain counterparties at a price of US$67.5 million. The 2023 Capped Call exercise price is equal to the 2023 Notes’ initial conversion price and the cap price is US$38.42 per ADS, subject to certain adjustments under the terms of the capped call transactions. The capped call transactions are expected to reduce potential dilution to existing holders of the ordinary shares and ADSs of the Company upon conversion of the 2023 Notes and/or offset any potential cash payments that the Company is required to make in excess of the principal amount of any converted notes, as the case may be, with such reduction and/or offset subject to a cap. 2025 Convertible Senior Notes On March 29, 2019, the Company issued US$1,200 million convertible senior notes (the “2025 Notes”). The 2025 Notes are senior, unsecured obligations of the Company, and interest is payable semi-annually in cash at a rate of 2.00% per annum on October 1 and April 1 of each year, beginning on October 1, 2019. The 2025 Notes will mature on April 1, 2025 unless redeemed, repurchased or converted prior to such date. The initial conversion rate of the 2025 Notes is 33.0003 of the Company’s ADS per US$1,000 principal amount of the 2025 Notes (which is equivalent to an initial conversion price of approximately US$30.30 per ADS). Prior to October 1, 2024, the 2025 Notes will be convertible at the option of the holders only upon the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on June 30, 2019, if the last reported sale price of ADSs for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price; (2) during the five business day period after any ten consecutive trading day period in which the trading price per US$1,000 principal amount of notes was less than 98% of the product of the last reported sale price of the ADSs and the conversion rate on each such trading day; (3) if the Company calls the notes for a tax redemption; or (4) upon the occurrence of specified corporate events. Thereafter, the 2025 Notes will be convertible at the option of the holders at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The conversion rate is subject to adjustment in some events but is not adjusted for any accrued and unpaid interest. In addition, following a make-whole fundamental change that occurs prior to the maturity date or following the Company’s delivery of a notice of a tax redemption, the Company will increase the conversion rate for a holder who elects to convert its notes in connection with such a corporate event or such tax redemption. Upon conversion, the Company will pay or deliver to such converting holders, as the case may be, cash, ADSs, or a combination of cash and ADSs, at its election. The holders may require the Company to repurchase all or portion of the 2025 Notes for cash on April 1, 2023, or upon a fundamental change, at a repurchase price equal to 100% of the principal amount, plus accrued and unpaid interest. In connection with the issuance of the 2025 Notes, the Company purchased capped call options (the “2025 Capped Call”) on the Company’s ADS with certain counterparties at a price of US$84.5 million. The 2025 Capped Call exercise price is equal to the 2025 Notes’ initial conversion price and the cap price is US$40.02 per ADS, subject to certain adjustments under the terms of the capped call transactions. The capped call transactions are expected to reduce potential dilution to existing holders of the ordinary shares and ADSs of the Company upon conversion of the 2025 Notes and/or offset any potential cash payments that the Company is required to make in excess of the principal amount of any converted notes, as the case may be, with such reduction and/or offset subject to a cap. Accounting for Convertible Senior Notes As the conversion option may be settled in cash at the Company’s option, the Company separated the 2023 Notes and the 2025 Notes (collectively as the “Notes”) into liability and equity components in accordance with ASC 470-20, Debt with Conversion and Other Options . The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated conversion feature. The carrying amount of the equity component representing the conversion option was determined by deducting the fair value of the liability component from the initial proceeds and recorded as additional paid-in capital. The difference between the principal amount of the 2023 Notes and the liability component is considered debt discount and is amortized at an effective interest rate of 7.04% to accrete the discounted carrying value of the 2023 Notes to its face value on December 1, 2021, the put date of the 2023 Notes. The difference between the principal amount of the 2025 Notes and the liability component is considered debt discount and is amortized at an effective interest rate of 6.01% to accrete the discounted carrying value of the 2025 Notes to its face value on April 1, 2023, the put date of the 2025 Notes. The cost of the 2023 Capped Call and 2025 Capped Call of US$67.5 million and US$84.5 million were recorded as a reduction of the Company’s additional paid-in capital on the condensed consolidated balance sheets with no subsequent changes in fair value be recorded. The net proceeds from the issuance of the 2023 Notes and the 2025 Notes were US$736.7 million and US$1,179.0 million, after deducting underwriting discounts and offering expenses of US$13.3 million and US$21.0 million from the initial proceeds of US$750 million and US$1,200 million, respectively. Debt issuance costs were allocated to the liability and equity components based on the same proportion as the recognized amounts of liability and equity components determined above. As of December 31, 2019 and September 30, 2020, the principal amount of the liability component of the Notes were RMB13,577.9 million and RMB13,241.5 million (US$1,950.3 million), unamortized debt discount were RMB1,281.0 million and RMB934.2 million (US$137.6 million), and the net carrying amount of the liability component were RMB12,296.9 million and RMB12,307.3 million (US$1,812.7 million), respectively. The carrying amount of the equity component of the Notes were RMB1,349.3 million and RMB1,349.3 million (US$198.7 million), respectively. For the nine months ended September 30, 2019 and 2020, the amount of interest cost recognized relating to both the contractual interest coupon and amortization of the discount on the liability component were RMB471.2 million and RMB595.6 million (US$87.7 million), respectively. As of September 30, 2020, the liability component of the 2023 Notes and the 2025 Notes will be accreted up to the principal amount of US$750 million and US$1,200 million over a remaining period of 1.17 years and 2.50 years, respectively.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	9. INCOME TAXES The Company is incorporated in the Cayman Islands and conducts its primary business operations through the subsidiaries and VIEs in the PRC. It also has intermediate holding companies in Hong Kong and Singapore. Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gains. Additionally, upon payment of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed. Under the Hong Kong tax laws, subsidiaries in Hong Kong are subject to the Hong Kong profits tax rate at 16.5% and they may be exempted from income tax on their foreign-derived income and there are no withholding taxes in Hong Kong on remittance of dividends. Under the Singapore tax laws, subsidiaries in Singapore are subject to a unified 17% tax rate, except for certain entities that are entitled to preferential tax treatments, and there are no withholding taxes in Singapore on remittance of dividends. Under the PRC Enterprise Income Tax (“EIT”) Law, which has been effective since January 1, 2008, domestic enterprises and Foreign Investment Enterprises (the “FIEs”) are subject to a unified 25% enterprise income tax rate, except for certain entities that are entitled to preferential tax treatments. The effective tax rates were negative 0.38% and 0.73% for the nine months ended September 30, 2019 and 2020, respectively. The effective tax rates were lower than the PRC statutory EIT rate of 25% mainly because PRC entities file separate tax returns and most subsidiaries were in an accumulated loss position. The effective tax rates are subject to change in subsequent period as the estimates of pretax income or loss for the year increase or decrease and certain subsidiaries of the Company may or may not continue to qualify for certain preferential tax rates. Valuation allowances have been provided on the net deferred tax assets where, based on all available evidence, it was considered more likely than not that some portion or all of the recorded deferred tax assets will not be realized in future periods. Realization of the net deferred tax assets is dependent on factors including future reversals of existing taxable temporary differences and adequate future taxable income, exclusive of reversing deductible temporary differences and tax loss or credit carry forwards. The Group evaluates the potential realization of deferred tax assets on an entity-by-entity basis. As of December 31, 2019 and September 30, 2020, valuation allowances were provided against deferred tax assets in entities where it was determined it was more likely than not that the benefits of the deferred tax assets will not be realized. The Group evaluated its income tax uncertainty under ASC 740. ASC 740 clarifies the accounting for uncertainty in income taxes by prescribing the recognition threshold a tax position is required to meet before being recognized in the financial statements. The Group elects to classify interest and penalties related to an uncertain tax position, if and when required, as part of income tax expense in the con densed consolidated statements of comprehensive loss. As of December 31, 2019, and September 30, 2020, there was no significant impact from tax uncertainty on the Group’s financial position and result of operations. The Group does not expect the amount of unrecognized tax benefits would increase significantly in the next 12 months. In general, the PRC tax authorities have up to five years to conduct examinations of the tax filings of the Group’s PRC subsidiaries. Accordingly, the PRC subsidiaries’ tax filings from 2015 through 2019 remain open to examination by the respective tax authorities. The Group may also be subject to the examinations of the tax filings in other jurisdictions, which are not material to the consolidated financial statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Commitments and Contingencies

9 Months Ended

Sep. 30, 2020

Commitments And Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

10. COMMITMENTS AND CONTINGENCIES

Commitments for property management fees

Future minimum payments under

non-cancelable

agreements for property management fees consist of the following as of September 30, 2020:


	RMB		US$
2020		2,378		350
2021		23,138		3,408
2022		23,667		3,486
2023		17,479		2,574
2024 and thereafter		41,225		6,072

		107,887		15,890

Commitments for Licensed Copyrights and Produced Content

Future minimum payments under

non-cancelable

agreements for licensed copyrights and produced content consist of the following as of September 30, 2020:


	RMB		US$
2020		6,107,029		899,468
2021		7,743,333		1,140,470
2022		3,755,818		553,172
2023		1,734,388		255,448
2024 and thereafter		1,267,381		186,666

		20,607,949		3,035,224

Capital commitment

As of September 30, 2020, commitments for the purchase of fixed assets are immaterial.

Litigation

The Group is involved in a number of claims pending in various courts, in arbitration, or otherwise unresolved as of September 30, 2020. These claims are substantially related to alleged copyright infringement as well as routine and incidental matters to its business, among others. Adverse results in these claims may include awards of damages and may also result in, or even compel, a change in the Group’s business practices, which could impact the Group’s future financial results. The Group has accrued RMB34,494

(US$5,080) in “Accrued expenses and other liabilities” in the

condensed

consolidated balance sheet as of September 30, 2020 and recognized losses of RMB2,216 (US$326) for the nine months ended September 30, 2020.

Starting in April 2020, the Group and certain of its current and former officers and directors were named as defendants in putative securities class actions filed in federal court. All of these cases were purportedly brought on behalf of a class of persons who allegedly suffered damages as a result of alleged misstatements and omissions in the Group’s public disclosure documents. As the cases remain in their preliminary stages, the likelihood of any unfavorable outcome or the amount or range of any potential loss cannot be reasonably estimated at the issuance date of the unaudited interim condensed consolidated financial statements. As a result, as of September 30, 2020, the Group did not record any liabilities for the loss contingencies pertaining to the cases described above.

The Group is unable to estimate the reasonably possible loss or a range of reasonably possible losses for proceedings in the early stages or where there is a lack of clear or consistent interpretation of laws specific to the industry-specific complaints among different jurisdictions. Although the results of unsettled litigations and claims cannot be predicted with certainty, the Group does not believe that, as of September 30, 2020, there was at least a reasonable possibility that the Group may have incurred a material loss, or a material loss in excess of the accrued expenses, with respect to such loss contingencies. The losses accrued include judgments made by the court and

out-of-court

settlements after September 30, 2020, but related to cases arising on or before September 30, 2020. The Group is in the process of appealing certain judgments for which losses have been accrued.

Redeemable Noncontrolling Interests

9 Months Ended

Sep. 30, 2020

Temporary Equity Disclosure [Abstract]

Redeemable Noncontrolling Interests

11. REDEEMABLE NONCONTROLLING INTERESTS

In October 2019, one of the Group’s VIE’s subsidiary completed a round of preferred shares financing with RMB100,000 from third-party preferred shareholders. As the preferred shares can be redeemed by such shareholders upon the occurrence of certain events that are not solely within the control of the Group, these preferred shares are accounted for as redeemable noncontrolling interests.

The Group accounts for the changes in accretion to the redemption value in accordance with ASC Topic 480,

Distinguishing Liabilities from Equity

. The Group elects to use the effective interest method to account for the changes of redemption value over the period from the date of issuance to the earliest redemption date of the noncontrolling interest.

The movement in the carrying value of the redeemable noncontrolling interests is as follows:


	2020		2020
	RMB		US$
Balance as of January 1		101,542		14,955
Issuance of subsidiary shares		—		—
Accretion of redeemable noncontrolling interests		5,260		775

Balance as of September 30		106,802		15,730

Restricted Net Assets	9 Months Ended
Restricted Net Assets	Sep. 30, 2020
Restricted Assets Disclosure [Abstract]
RESTRICTED NET ASSETS	12. RESTRICTED NET ASSETS As of December 31, 2019, and September 30, 2020, the Company’s PRC subsidiaries, VIEs and VIEs’ subsidiaries had appropriated RMB23,073 and RMB20,071 (US$2,956), respectively, in its statutory reserves. Under the PRC laws and regulations, the subsidiaries, VIEs and the VIEs’ subsidiaries incorporated in the PRC are restricted in their ability to transfer a portion of their net assets to the Group either in the form of dividends, loans or advances of the combined and consolidated net assets as of September 30, 2020. Even though the Group currently does not require any such dividends, loans or advances from the PRC subsidiaries, VIEs and VIEs’ subsidiaries for working capital and other funding purposes, the Company may in the future require additional cash resources from its PRC subsidiaries, VIEs and VIEs’ subsidiaries due to changes in business conditions, to fund future acquisitions and development, or merely declare and pay dividends to or distribution to its shareholders. Amounts of net assets restricted include paid-in capital of the Company’s PRC subsidiaries and the net assets of the VIEs and VIEs’ subsidiaries in which the Company has no legal ownership, totaling RMB18,644,489 (US$2,746,036) as of September 30, 2020.

Loss Per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Loss Per Share

13. LOSS PER SHARE

Basic and diluted net loss per Class A and Class B ordinary share for the nine months ended September 30, 2019 and 2020 are as follows:


	For the nine months ended September 30,
	2019						2020						2020
	Class A			Class B			Class A						Class B
	RMB			RMB			RMB			US$			RMB			US$
Numerator:
Net loss attributable to iQIYI, Inc.		(3,412,357	)		(4,417,187	)		(2,428,380	)		(357,663	)		(3,062,367	)		(451,038	)
Accretion of redeemable noncontrolling interests		—			—			(2,326	)		(343	)		(2,934	)		(432	)

Net loss attributable to iQIYI, Inc.’s ordinary shareholders		(3,412,357	)		(4,417,187	)		(2,430,706	)		(358,006	)		(3,065,301	)		(451,470	)

Denominator:
Weighted average number of ordinary shares outstanding, basic		2,222,064,998			2,876,391,396			2,280,906,536			2,280,906,536			2,876,391,396			2,876,391,396

Weighted average number of ordinary shares outstanding, diluted		2,222,064,998			2,876,391,396			2,280,906,536			2,280,906,536			2,876,391,396			2,876,391,396

Net loss per share, basic		(1.54	)		(1.54	)		(1.07	)		(0.16	)		(1.07	)		(0.16	)

Net loss per share, diluted		(1.54	)		(1.54	)		(1.07	)		(0.16	)		(1.07	)		(0.16	)

The effects of the convertible senior notes, share options and restricted share units were excluded from the computation of diluted net loss per share for the nine months ended September 30, 2019 and 2020, as their effects would be anti-dilutive.

Related Party Transactions

9 Months Ended

Sep. 30, 2020

Related Party Transactions

14. RELATED PARTY TRANSACTIONS

a) The table below sets forth the major related parties and their relationships with the Group:


Name of related parties		Relationship with the Group
Baidu and its subsidiaries (“Baidu Group”) Others		Controlling shareholder of the Company Equity investees

b) The Group had the following related party transactions with the major related parties:


	Nine months ended September 30,
	2019		2020		2020
	RMB		RMB		US$
Membership services
Membership services revenue earned from memberships sold to Baidu Group		14,051		11,900		1,753
Membership services revenue earned from memberships sold by Others		8,047		740		109
Online advertising revenues
Advertising services provided to Baidu Group		37,484		94,651		13,941
Advertising services provided to Others		14,151		59,074		8,701
Content distribution revenues
Content licensed to Others		389,990		137,597		20,266
Other revenues
Other services provided to Baidu Group		7,946		11,976		1,764
Other services provided to Others		31,022		30,019		4,421
Interest income
Loans due from Others		3,596		1,247		184

		506,287		347,204		51,139

Cost of revenues
License fees to Baidu Group		18,902		11,839		1,744
Bandwidth fee to Baidu Group		747,194		763,801		112,496
Traffic acquisition and other services provided by Baidu Group (i)		119,652		—		—
Others (ii)		80,196		52,244		7,695
Selling, general and administrative
Advertising services provided by Baidu Group		1,440		771		114
Others		1,042		16,362		2,410
Research and development
Cloud services provided by Baidu Group		12,085		7,381		1,087

		980,511		852,398		125,546

(i)

On April 12, 2018, the Company issued to Baidu an aggregate of 36,860,691 Class B ordinary shares pursuant to a share purchase agreement with Baidu entered into in February 2018, in exchange for Baidu providing traffic acquisition and other services in relation with ticket booking service, which was recorded as intangible assets.

(ii)

The transactions mainly represent revenue sharing arrangements with various equity investees. The Group entered into a revenue sharing arrangement in 2018 to become the exclusive sales agent for an equity investee and provided a minimum guarantee of a RMB100,000 of annual sales for a one year period. RMB61,698 and RMB nil (US$ nil) was recognized as cost of revenues for the nine months ended September 30, 2019 and 2020, respectively.

For the nine months ended September 30, 2019 and 2020, the Group purchased contents from various equity investees for total amounts of RMB510,889 and

RMB993,652

(US$ 146,349), respectively.

c) The Group had the following related party balances with the major related parties:


	As of
	December 31, 2019		September 30, 2020		September 30, 2020
	RMB		RMB		US$
Amounts due from related parties, current:
Due from Baidu Group (i)		35,560		48,868		7,197
Loans receivable from Others (ii)		105,934		—		—
Due from Others (iii)		70,499		120,931		17,812

		211,993		169,799		25,009

Amounts due from related parties, non-current:
Due from Others (iv)		172,200		242,000		35,643

		172,200		242,000		35,643


	As of
	December 31, 2019		September 30, 2020		September 30, 2020
	RMB		RMB		US$
Amounts due to related parties, current:
Loans due to Baidu Group (v)		50,000		50,000		7,364
Due to Baidu Group (vi)		1,014,283		800,815		117,947
Deferred revenue in relation to services to be provided to an equity investee (vii)		169,677		166,144		24,470
Due to Others (viii)		370,298		811,126		119,467

		1,604,258		1,828,085		269,248

Amounts due to related parties, non-current:
Loans due to Baidu Group (v)		650,000		650,000		95,735
Due to Baidu Group (vi)		1,570		2,050		302
Deferred revenue in relation to services to be provided to an equity investee (vii)		410,187		341,512		50,299
Due to Others		126		46		7

		1,061,883		993,608		146,343

(i)	The balance mainly represents amounts due from Baidu Group for advertising services.

(ii)	The balance as of December 31, 2019 represents loans provided to a Group’s equity investee with an interest rate of 5%, which were fully repaid during the nine months ended September 30, 2020.

(iii)

The balance mainly represents amounts due from or advances made to equity investees for content distribution service and other services.

(iv)	The balance represents prepaid licensed copyrights for the Group’s equity investees.

(v)	The total outstanding balance represents an interest-free loan of RMB50,000, which is due on demand and an interest-free loan of RMB650,000 provided by Baidu in January 2018 that will mature in January 2023.

(vi)	The balance mainly represents amounts owed to Baidu for provision of bandwidth and cloud services.

(vii)

The balance represents deferred revenue in relation to content distribution, licenses of intellectual property and traffic support services to be provided to an equity investee.

(viii)

The balance mainly represents amounts owed to the Group’s equity investees for licensed copyrights and advances made for online advertising services.

Fair Value Measurements

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

15. FAIR VALUE MEASUREMENTS

The following table sets forth the financial instruments measured at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2019 and September 30, 2020 and on a

non-recurring

basis as of December 31, 2019 and September 30, 2020:


		Fair Value Measurements
	Quoted Prices in Active Market for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gain/(Losses)
	RMB	RMB		RMB		RMB			US$
Recurring
As of December 31, 2019:
Short-term investments
Available-for-sale debt securities			890,459

Held-to-maturity debt securities			3,688,854

Long-term investments
Available-for-sale debt security					10,259

Held-to-maturity debt securities			490,799

Prepayment and other assets
Option to purchase equity interests of a listed company					14

Convertible senior notes			14,142,006

As of September 30, 2020:
Short-term investments
Available-for-sale debt securities			791,593

Held-to-maturity debt securities			2,812,298

Long-term investments
Held-to-maturity debt securities			495,533

Convertible senior notes			13,280,458

Non-recurring
As of December 31, 2019:
Long-term investments					—		(169,374	)

Intangible assets, net					72,302		(99,096	)

Equity investments at fair value without readily determinable fair value					44,198		7,024

As of September 30, 2020:
Long-term investments					—		(73,199	)		(10,781	)

Equity investments at fair value without readily determinable fair value					101,594		38,100			5,612

Fixed assets					—		(95,111	)		(14,008	)
Prepayments and other assets					110,000		(48,423	)		(7,132	)


		Fair Value Measurements
	Quoted Prices in Active Market for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)		Total Gain/(Losses)
	RMB	RMB	RMB		RMB			US$
Mainland China film group – Licensed copyrights as of March 31, 2020				7,186,037		(390,299	)		(57,485	)

Mainland China film group – Produced content as of March 31, 2020				4,124,114		(209,701	)		(30,886	)

Produced content monetized on its own				29,907		(186,933	)		(27,532	)

Recurring

As of September 30, 2020, the Group estimated the fair value of the long-term

hel

-to-maturity

debt securities using the income approach, based on quoted market interest rates of similar instruments (Level 2). As the short-term investments usually have original maturities of less than

one year

, the carrying values approximate their fair values.

The Company carries the convertible senior notes at face value less unamortized debt discount and issuance costs on its condensed consolidated balance sheets and presents the fair value for disclosure purposes only. The fair value of the convertible senior notes (Note 8) is classified as Level 2 fair value measurements based on dealer quotes.

Non-recurring

The Group measures certain financial assets, including equity method investments at fair value on a non-recurring basis only if an impairment charge were to be recognized. For equity investments accounted for under the measurement alternative, the equity investment is measured at fair value on a nonrecurring basis when there is an orderly transaction for identical or similar investments of the same issuer. The fair values of these investments were categorized as Level 3 in the fair value hierarchy. The fair values of the Group’s privately held investments as disclosed are determined based on the observable transaction price of recent rounds of financing and a price adjustment for the different rights and obligations between a similar instrument of the same issuer with an observable price change in an orderly transaction and the investment held by the Group. The Group’s long-term investments were determined to be impaired as of March 31, 2020 and June 30, 2020, respectively, and the impairment charges were recognized in the condensed consolidated statement of comprehensive loss for the nine months ended September 30, 2020.

The Group uses an income approach to determine the fair value of mobile games in development with the assistance of an independent third-party valuation firm. Judgments involved in determining the fair value of mobile games in development includes forecasts of future cash flows, which are based on the Group’s best estimate of expected revenues and operating costs and expenses, working capital levels, as well as the risk-adjusted discount rate determined based on comparable companies operating in similar businesses and adjusted for an appropriate risk premium for the related asset (Level 3).

In the third quarter of 2020, the Group received a unilateral vacancy notice from a third-party lessor for one of its leased film production premises. The Group considered such notice as an impairment indicator for relevant long-lived assets associated with the leased property, including its related construction in process and leasehold improvements. Therefore, the Group performed an impairment assessment of the relevant long-lived assets based on estimates of the future cash flows that can be recovered from the lessor. An impairment charge of

RMB143,534 (US$21,140)

was recognized as “selling, general and administrative” in the condensed consolidated statement of comprehensive loss for the nine months ended September 30, 2020.

The outbreak of coronavirus

(COVID-19)

during the first quarter of 2020 has negatively impacted the Group’s operations and financial performance and resulted in a downward adjustment to forecasted

advertising

revenues for the Mainland China film group. As a result, the Group performed an assessment to determine whether the fair value of the Mainland China film group was less than its unamortized film costs as of March 31, 2020 with the assistance of a third-party valuation firm. The fair value of the Mainland China film group was less than its corresponding carrying value and resulted in the Group recognizing an impairment charge of RMB390,299 (US$57,485) related to licensed copyrights and RMB209,701 (US$30,886) related to produced content, respectively. The impairment charge was recognized as cost of revenues in the condensed consolidated statement of comprehensive loss for the nine months ended September 30, 2020. The valuation technique and significant unobservable inputs (Level 3) utilized to determine the fair value of the Mainland China film group are as follows:


Asset	Valuation technique	Unobservable inputs	Range
Mainland China film group	Discounted cash flow	Costs and operating expenses attributable to the film group as a percentage of revenue	32%-37%
		Discount rate	15%

In addition, due to adverse changes in the expected performance of certain produced content and the reduced amount of ultimate revenue expected to be recognized, the Group performed an assessment to determine whether the fair value was less than unamortized content costs. The Group uses a discounted cash flow approach to estimate the fair value of the produced content titles predominantly monetized on its own. The significant unobservable inputs (level 3) include forecasted future revenues, productions costs required to complete the content and exploitation and participation costs. The Group considers historical performance of similar contents, the forecasted performance and/or preliminary actual performance subsequent to release of the produced content in estimating the fair value. An impairment charge of RMB186,933 (US$27,532) was recognized for produced content predominantly monetized on its own and was recognized as cost of revenues in the condensed consolidated statement of comprehensive loss for the nine months ended September 30, 2020.

Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME

16. ACCUMULATED OTHER COMPREHENSIVE INCOME

The changes in accumulated other comprehensive income by component, net of tax, for the nine months ended September 30, 2019 and 2020 are as follows:


	Foreign currency translation adjustment			Unrealized gain on available-for-sale debt securities			Total
	RMB			RMB			RMB
Balance at December 31, 2018		1,879,171			775			1,879,946
Other comprehensive income before reclassification		613,424			6,855			620,279
Amounts reclassified from accumulated other comprehensive income		—			(7,137	)		(7,137	)

Net current-period other comprehensive income/(loss)		613,424			(282	)		613,142
Other comprehensive (income)/loss attributable to noncontrolling interests		(1,145	)		38			(1,107	)

Balance at September 30, 2019		2,491,450			531			2,491,981


	Foreign currency translation adjustment		Unrealized gain on available-for-sale debt securities			Total
	RMB		RMB			RMB
Balance at December 31, 2019		2,106,219		499			2,106,718
Other comprehensive income before reclassification		166,781		11,254			178,035
Amounts reclassified from accumulated other comprehensive income		—		(11,569	)		(11,569	)

Net current-period other comprehensive income/(loss)		166,781		(315	)		166,466
Other comprehensive loss attributable to noncontrolling interests		1,088		4			1,092

Balance at September 30, 2020		2,274,088		188			2,274,276

Balance at September 30, 2020, in US$		334,937		28			334,965

The amounts reclassified out of accumulated other comprehensive income represent realized gains on the

available-for-sale

debt securities upon their maturity. Losses on intracompany foreign currency transactions that are of a long-term-investment nature in the amount of nil and RMB471,751 (US$69,481) are included in the foreign currency translation adjustment for the nine months ended September 30, 2019 and September 30, 2020, respectively.

The following table sets forth the tax benefit/(expense) allocated to each component of other comprehensive income for the nine months ended September 30, 2019 and 2020:


	For the nine months ended September 30,
	2019			2020			2020
	RMB			RMB			US$
Unrealized gains on available-for-sale debt securities
Other comprehensive income before reclassification		(1,174	)		(2,105	)		(310	)
Amounts reclassified from accumulated other comprehensive income		1,246			2,145			316

Net current-period other comprehensive income		72			40			6

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2020

Recently adopted accounting pronouncements

Adoption of ASU

2016-13

In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU

2016-13,

Measurement of Credit Losses on Financial Instruments

Credit Losses

The allowance for credit losses on accounts receivable and contract assets

, including amounts due from related parties,

Adoption of ASU 2017-04

In January 2017, the FASB issued ASU

2017-04,

Simplifying the Test for Goodwill Impairment

Adoption of ASU

2019-02

In March 2019, the FASB issued ASU

2019-02,

Improvements to Accounting for Costs of Films and License Agreements for Program Materials

(“ASU

2019-02”)

which includes the following major changes from previous legacy GAAP that are applicable to the Group:

•

The content distinction for capitalization of production costs of an episodic television series and production costs of films is removed;

•

Entities shall assess estimates of the use of a film in a film group and account for such changes prospectively;

•

Cash outflows for the costs incurred to obtain rights for both produced and licensed content are required t

be reported as operating cash outflows in the statement of cash flows.

The Group adopted ASU

2019-02

2019-02.

Produced content, net

The Group produces original content

in-house

non-current

Licensed copyrights, net

non-current

based on estimated time of usage.

Accounting Changes and Error Corrections.

Change in accounting estimates of licensed copyrights and produced content

2020, the Group reviewed and revised its estimates of the estimated future viewership consumption patterns and extended the

estimated

useful lives of its licensed copyrights and produced content to better reflect the usage of these content assets. As a result of these revisions, amortization expense decreased by

RMB

398,469 (US$58,688)

, net loss decreased by

RMB398,469

(US$58,688), and basic and diluted net loss per Class A and Class B ordinary share decreased by RMB0.08 (US$0.01) for the

nine

months ended September 30, 2020.

Impairment of licensed copyrights and produced content

Our business model is mainly subscription and advertising based, as such the majority of the Group’s content assets (licensed copyrights and produced content) are predominantly

Comparative Information

Convenience translation

Use of estimates

Revenue recognition

The Group’s revenue recognition policies are as follows:

Membership services

The Group offers membership services to subscribing members with various privileges, which primarily including access to exclusive and

ad-free

on-demand

Online advertising services

The Group sells advertising services primarily to third-party advertising agencies and a small portion are sold d

Content distribution

The Group generates revenues from

sub-licensing

sub-license

these contents to other parties. The Group enters into a

non-exclusive

sub-license

agreement with a

sub-licensee

for a period that falls within the original exclusive license period. For cash

sub-licensing

transactions, the Group is entitled to receive the

sub-license

fee under the

sub-licensing

arrangements and does not have any future obligation once it has provided the underlying content to the

sub-licensee

(which is provided at or before the beginning of the

sub-license

period). The

sub-licensing

e Group estimates the fair value of the licensed copyrights received using a market approach based on various factors, including the purchase price of similar

non-exclusive

Others

Other revenues mainly include revenues from live broadcasting and online games.

Live broadcasting

Online games

The Group operates mobile games including both self-developed and licensed mobile games and generates mobile game revenues from the sale of

in-game

virtual items, including items, avatars, skills, privileges or other

in-game

consumables, features or functionality, within the games.

pre-determined

with the online game developers when all the revenue recognition criteria set forth in ASC 606 are met, which is generally when the user purchases virtual currencies issued by the game developers.

For transactions where the Group is the principal, the Group determines that the

in-game

virtual items are identified as performance obligations. The Group provides

on-going

services to the

end-users

Contract balances

Contract liabilities are the Group’s obligation to transfer goods or services to customers for which the Group has received consideration from customers, which

are

comprised of: i) payments received for membership fees and other services; ii) virtual currency sold for which the corresponding

services have not yet been provided to

customers

;

and

Practical Expedients and Exemptions

Concentration of credit risks

Going concern

the holders of the notes may request the Company to repurchase a portion or all of the outstanding notes on December 1, 2021.

, additional financing generated through the sale of the Company’s debt and/or equity securities and

financial support from shareholder. The Company believes its current cash and cash equivalents, restricted cash, short-term investments, proceeds expected from future financings and

available

Impact of COVID-19

During the nine months ended September 30, 2020,

COVID-19

has had limited impact on the Group’s operations, including delays in the production and scheduling of certain new content, lower work efficiency and productivity and service quality. However,

COVID-19

COVID-19’s

COVID-19

and related government stimulus measures. As a result, certain of the Group’s estimates and assumptions, including the allowance for credit losses, the valuation of

non-marketable

For further information of other significant accounting policies, see Note 2 to the consolidated financial statements included in the Company’s annual report on Form

20-F

for the year ended December 31, 2019, filed with the Commission on March 12, 2020.

Recently issued but not yet adopted accounting pronouncements

In August 2020, the FASB issued ASU

No. 2020-06,

Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

(“ASU

2020-06”),

which focuses on amending the legacy guidance on convertible instruments and the derivatives scope exception for contracts in an entity’s own equity. ASU

2020-06

simplifies an issuer’s accounting for convertible instruments by reducing the number of accounting models that require separate accounting for embedded conversion features. ASU

2020-06

also simplifies the settlement assessment that entities are required to perform to determine whether a contract qualifies for equity classification. Further, ASU

2020-06

enhances information transparency by making targeted improvements to the disclosures for convertible instruments and

earnings-per-share

(EPS) guidance, i.e., aligning the diluted EPS calculation for convertible instruments by requiring that an entity use the

if-converted

2020-06

on its consolidated financial statements and related disclosure.

Organization and Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Major Subsidiaries, VIEs and VIEs' Subsidiaries

As of September 30, 2020, the Company’s major subsidiaries, VIEs and VIEs’ subsidiaries are as follows:

Place of

Incorporation

Date of

Establishment/Acquisition

Effective

interest held

Subsidiaries:

Beijing QIYI Century Science & Technology Co.,
Ltd. (“Beijing QIYI Century”)

PRC

March 8, 2010

100

Chongqing QIYI Tianxia Science & Technology Co.,
Ltd. (“QIYI Tianxia”)

PRC

November 3, 2010

100

iQIYI HK Limited (“QIYI HK”)

Hong Kong

April 14, 2011

100

iQIYI Film Group Limited

Cayman

May 26, 2017

100

iQIYI Media Limited

Cayman

May 26, 2017

100

iQIYI Film Group HK Limited

Hong Kong

June 12, 2017

100

Beijing iQIYI New Media Science &Technology Co.,
Ltd. (“iQIYI New Media”)

PRC

July 27, 2017

100

Skymoons Inc.

Cayman

Acquired on July 17, 2018

100

Magic Prime Group Limited

BVI

Acquired on July 17, 2018

Special (Hong Kong) Co., Ltd

Hong Kong

Acquired on July 17, 2018

iQIYI International Singapore Pte, Ltd.

Singapore

February 11, 2020

100

VIEs and VIEs’ subsidiaries:

Beijing iQIYI Science & Technology Co., Ltd.
(“Beijing iQIYI”; formerly known as Beijing
Xinlian Xinde Advertisement Media Co., Ltd.)

PRC

Acquired on November 23, 2011

Nil

Shanghai iQIYI Culture Media Co., Ltd. (“Shanghai iQIYI”)

PRC

December 19, 2012

Nil


	Place of Incorporation	Date of Establishment/Acquisition	Effective interest held
Shanghai Zhong Yuan Network Co., Ltd. (“Shanghai Zhong Yuan”)	PRC	Acquired on May 11, 2013	Nil
iQIYI Pictures (Beijing) Co., Ltd. (“iQIYI Pictures”)	PRC	December 31, 2014	Nil
Beijing iQIYI Intelligent Entertainment Technology Co., Ltd. (“Intelligent Entertainment”, formerly known as Beijing iQIYI Cinema Management Co., Ltd.)	PRC	June 28, 2017	Nil
Tianjin Skymoons Technology Co., Ltd. (“Tianjin Skymoons”)	PRC	Acquired on July 17, 2018	Nil
Chengdu Skymoons Digital Entertainment Co., Ltd. (“Chengdu Skymoons”)	PRC	Acquired on July 17, 2018	Nil
Chengdu Skymoons Interactive Network Game Co.,Ltd. (“Skymoons Interactive”)	PRC	Acquired on July 17, 2018	Nil

Schedule of VIEs and VIEs' Subsidiaries Included in Consolidated Balance Sheets and Statements of Comprehensive Loss


	As of
	December 31, 2019		September 30, 2020		September 30, 2020
	RMB		RMB		US$
ASSETS
Current assets:
Cash and cash equivalents		882,743		909,623		133,973
Short-term investments		169,565		228,179		33,607
Accounts receivable, net		2,839,945		2,750,509		405,106
Licensed copyrights, net		716,008		952,996		140,362
Prepayments and other assets		3,202,489		2,958,358		435,718

Total current assets		7,810,750		7,799,665		1,148,766

Non-current assets:
Fixed assets, net		856,116		726,666		107,026
Long-term investments		2,130,467		2,249,307		331,287
Licensed copyrights, net		1,640,582		1,157,843		170,532
Produced content, net		4,355,221		5,145,750		757,887
Operating lease assets		649,273		736,802		108,519
Goodwill		2,412,989		2,412,989		355,395
Others		1,552,160		986,015		145,225

Total non-current assets		13,596,808		13,415,372		1,975,871

Total assets		21,407,558		21,215,037		3,124,637

LIABILITIES
Current liabilities:
Accounts payable		4,193,022		3,920,413		577,414
Customer advances and deferred revenue		2,982,011		2,964,704		436,654
Long-term loans, current portion (i)		732,213		712,253		104,904
Operating lease liabilities, current portion		95,905		100,201		14,758
Accrued expenses and other liabilities		4,090,314		3,949,158		581,648

Total current liabilities		12,093,465		11,646,729		1,715,378
Non-current liabilities:
Long-term loans (i)		937,782		664,299		97,841
Operating lease liabilities		364,853		620,583		91,402
Others		630,195		528,030		77,770

Total non-current liabilities		1,932,830		1,812,912		267,013
Amounts due to the Company and its subsidiaries		13,583,317		15,618,372		2,300,338

Total liabilities		27,609,612		29,078,013		4,282,729


	Nine months ended September 30
	2019			2020			2020
	RMB			RMB			US$
Total revenues		20,116,714			20,351,564			2,997,461
Net loss		(1,943,153	)		(1,940,779	)		(285,846	)
Net cash provided by operating activities		1,644,590			259,018			38,149
Net cash used for investing activities		(2,173,941	)		(364,693	)		(53,714	)
Net cash provided by financing activities		586,135			152,753			22,498

(i)

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]

Summary of Changes in Shareholders' Equity

The changes in shareholders’ equity for the nine months ended September 30, 2019 and 2020 are as follows:


	Attributable to iQIYI, INC.
	Ordinary shares				Additional paid-in capital			Accumulated other comprehensive income
	Number of shares		Amount		Additional paid-in capital			Accumulated other comprehensive income		Accumulated deficit			Noncontrolling interests		Total Shareholders’ equity
			RMB		RMB			RMB		RMB			RMB		RMB
Balances as of December 31, 2018		5,075,817,301		321		39,666,150			1,879,946		(23,509,486	)		118,632		18,155,563
Net loss attributable to iQIYI, Inc.		—		—		—			—		(7,829,544	)		28,714		(7,800,830	)
Other comprehensive income		—		—		—			612,035		—			1,107		613,142
Exercise of share-based awards		41,428,030		3		93,057			—		—			—		93,060
Share-based compensation		—		—		769,527			—		—			—		769,527
Equity component of convertible senior notes, net of issuance costs		—		—		987,691			—		—			—		987,691
Purchase of capped call		—		—		(567,140	)		—		—			—		(567,140	)
Issuance of subsidiaries’ shares to noncontrolling interest holders		—		—		—			—		—			3,500		3,500
Acquisition of noncontrolling interests in a subsidiary		—		—		(71,620	)		—		—			6,620		(65,000	)

Balances as of September 30, 2019		5,117,245,331		324		40,877,665			2,491,981		(31,339,030	)		158,573		12,189,513


	Attributable to iQIYI, INC.
	Ordinary shares				Additional paid-in capital			Accumulated other comprehensive income
	Number of shares		Amount		Additional paid-in capital			Accumulated other comprehensive income		Accumulated deficit			Noncontrolling interests			Total Shareholders’ equity
			RMB		RMB			RMB		RMB			RMB			RMB
Balances as of December 31, 2019		5,135,516,521		325		41,298,328			2,106,718		(33,834,357	)		42,376			9,613,390
Cumulative effect of adopting ASC 326		—		—		—			—		(94,048	)		—			(94,048	)
Net loss attributable to iQIYI, Inc.		—		—		—			—		(5,490,747	)		15,665			(5,475,082	)
Exercise of share-based awards		59,727,931		4		165,974			—		—			—			165,978
Other comprehensive income		—		—		—			167,558		—			(1,092	)		166,466
Issuance of a subsidiary’s shares to noncontrolling interest holders		—		—		(918	)		—		—			1,032			114
Accretion of a redeemable noncontrolling interest		—		—		—			—		(5,260	)		—			(5,260	)
Dividends paid and payable by a subsidiary		—		—		—			—		—			(22,563	)		(22,563	)
Share-based compensation		—		—		1,021,116			—		—			—			1,021,116
Others		—		—		(20,026	)		—		—			20,026			—

Balances as of September 30, 2020		5,195,244,452		329		42,464,474			2,274,276		(39,424,412	)		55,444			5,370,111

Balances as of September 30, 2020, in US$				49		6,254,341			334,965		(5,806,588	)		8,166			790,933

Long-term Investments (Tables)

9 Months Ended

Sep. 30, 2020

Schedule Of Investments [Abstract]

Summary of Carrying Amount of the Company's Equity Investments

Equity investments at fair value without readily determinable fair value

As of December 31, 2019, and September 30, 2020, the carrying amount of the Company’s equity investments without readily determinable fair value were as follows:


	As of
	December 31, 2019			September 30, 2020			September 30, 2020
	RMB			RMB			US$
Initial cost basis		1,797,421			2,677,423			394,342
Cumulative unrealized gains		196,663			235,258			34,650
Cumulative unrealized losses (including impairment)		(181,274	)		(247,468	)		(36,448	)

Total carrying amount		1,812,810			2,665,213			392,544

Total realized and unrealized gains and losses for equity securities without readily determinable fair values for the nine months ended September 30, 2019 and 2020 were as follows:


	For the nine months ended September 30,
	2019		2020			2020
	RMB		RMB			US$
Gross unrealized gains (upward adjustments)		6,076		38,595			5,685
Gross unrealized losses (downward adjustments excluding impairment)		—		(495	)		(73	)

Net unrealized gains and losses on equity securities held		6,076		38,100			5,612
Net realized gains on equity securities sold		—		—			—

Total net gains recognized in other income, net		6,076		38,100			5,612

Licensed Copyrights, Net (Tables)

9 Months Ended

Sep. 30, 2020

Finite Lived License Agreements [Line Items]

Summary of Estimated Amortization Expense Relating to Licensed Copyrights

Estimated amortization expense relating to the existing licensed copyrights for each of the next three years is as follows:


	RMB		US$
Three months ending December 31, 2020		1,510,992		222,545
Year ending December 31, 2021		2,660,860		391,902
Year ending December 31, 2022		1,112,819		163,901
Year ending December 31, 2023		668,234		98,420

Licensed Copyrights

Finite Lived License Agreements [Line Items]

Schedule of Licensed Copyrights, Net


	As of December 31, 2019
	Gross carrying value		Accumulated amortization			Impairment amount			Net carrying value
	RMB		RMB			RMB			RMB
Licensed copyrights
—Broadcasting rights		32,038,423		(24,500,895	)		(25,317	)		7,512,211
—Sublicensing rights		4,632,586		(4,632,586	)		—			—

		36,671,009		(29,133,481	)		(25,317	)		7,512,211

Less: current portion:
—Broadcasting rights		11,752,412		(10,502,214	)		(25,317	)		1,224,881
—Sublicensing rights		4,632,586		(4,632,586	)		—			—

		16,384,998		(15,134,800	)		(25,317	)		1,224,881

Licensed copyrights—non-current
—Broadcasting rights		20,286,011		(13,998,681	)		—			6,287,330
—Sublicensing rights		—		—			—			—

		20,286,011		(13,998,681	)		—			6,287,330


	As of September 30, 2020
	Gross carrying value		Accumulated amortization			Impairment amount			Net carrying value
	RMB		RMB			RMB			RMB		US$
Licensed copyrights
—Broadcasting rights		36,240,889		(28,588,974	)		(365,799	)		7,286,116		1,073,128
—Sublicensing rights		5,613,400		(5,590,590	)		—			22,810		3,360

		41,854,289		(34,179,564	)		(365,799	)		7,308,926		1,076,488

Less: current portion:
—Broadcasting rights		8,889,238		(7,618,439	)		(46,194	)		1,224,605		180,364
—Sublicensing rights		5,613,400		(5,590,590	)		—			22,810		3,360

		14,502,638		(13,209,029	)		(46,194	)		1,247,415		183,724

Licensed copyrights—non-current
—Broadcasting rights		27,351,651		(20,970,535	)		(319,605	)		6,061,511		892,764
—Sublicensing rights		—		—			—			—		—

		27,351,651		(20,970,535	)		(319,605	)		6,061,511		892,764

Produced Content, Net (Tables)

9 Months Ended

Sep. 30, 2020

Film Costs [Abstract]

Components of Produced Content, Net


	As of December 31,
	2019
	RMB
Released, less amortization		891,574
In production		3,074,946
In development		388,701

		4,355,221


	As of September 30,
	2020		2020
	RMB		US$
Released, less amortization and impairment
— Predominantly monetized with other content assets		1,516,977		223,427
— Predominantly monetized on its own		54,122		7,971

		1,571,099		231,398
In production, less impairment
— Predominantly monetized with other content assets		2,897,231		426,716
— Predominantly monetized on its own		182,873		26,934

		3,080,104		453,650
In development, less impairment
— Predominantly monetized with other content assets		774,712		114,103
— Predominantly monetized on its own		91,180		13,429

		865,892		127,532
Total		5,517,095		812,580

Summary of estimated amortization expense relating to produced content

Estimated amortization expense relating to produced content that has been released for each of the next three years is as follows:


	RMB		US$
Three months ending December 31, 2020		326,064		48,024
Year ending December 31, 2021		421,467		62,075
Year ending December 31, 2022		214,681		31,619
Year ending December 31, 2023		147,147		21,672

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2020

Commitments And Contingencies Disclosure [Abstract]

Schedule of Future Minimum Payments Under Non-Cancelable Agreements for Property Management Fees

Future minimum payments under

non-cancelable

agreements for property management fees consist of the following as of September 30, 2020:


	RMB		US$
2020		2,378		350
2021		23,138		3,408
2022		23,667		3,486
2023		17,479		2,574
2024 and thereafter		41,225		6,072

		107,887		15,890

Schedule of Future Minimum Payments Under Non-Cancelable Agreements for Licensed Copyrights and produced content

Future minimum payments under

non-cancelable

agreements for licensed copyrights and produced content consist of the following as of September 30, 2020:


	RMB		US$
2020		6,107,029		899,468
2021		7,743,333		1,140,470
2022		3,755,818		553,172
2023		1,734,388		255,448
2024 and thereafter		1,267,381		186,666

		20,607,949		3,035,224

Redeemable Noncontrolling Interests (Tables)

9 Months Ended

Sep. 30, 2020

Temporary Equity Disclosure [Abstract]

Schedule of Movement in Carrying Value of Redeemable Noncontrolling Interests

The movement in the carrying value of the redeemable noncontrolling interests is as follows:


	2020		2020
	RMB		US$
Balance as of January 1		101,542		14,955
Issuance of subsidiary shares		—		—
Accretion of redeemable noncontrolling interests		5,260		775

Balance as of September 30		106,802		15,730

Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Loss Per Share

Basic and diluted net loss per Class A and Class B ordinary share for the nine months ended September 30, 2019 and 2020 are as follows:


	For the nine months ended September 30,
	2019						2020						2020
	Class A			Class B			Class A						Class B
	RMB			RMB			RMB			US$			RMB			US$
Numerator:
Net loss attributable to iQIYI, Inc.		(3,412,357	)		(4,417,187	)		(2,428,380	)		(357,663	)		(3,062,367	)		(451,038	)
Accretion of redeemable noncontrolling interests		—			—			(2,326	)		(343	)		(2,934	)		(432	)

Net loss attributable to iQIYI, Inc.’s ordinary shareholders		(3,412,357	)		(4,417,187	)		(2,430,706	)		(358,006	)		(3,065,301	)		(451,470	)

Denominator:
Weighted average number of ordinary shares outstanding, basic		2,222,064,998			2,876,391,396			2,280,906,536			2,280,906,536			2,876,391,396			2,876,391,396

Weighted average number of ordinary shares outstanding, diluted		2,222,064,998			2,876,391,396			2,280,906,536			2,280,906,536			2,876,391,396			2,876,391,396

Net loss per share, basic		(1.54	)		(1.54	)		(1.07	)		(0.16	)		(1.07	)		(0.16	)

Net loss per share, diluted		(1.54	)		(1.54	)		(1.07	)		(0.16	)		(1.07	)		(0.16	)

Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2020

a) The table below sets forth the major related parties and their relationships with the Group:


Name of related parties		Relationship with the Group
Baidu and its subsidiaries (“Baidu Group”) Others		Controlling shareholder of the Company Equity investees

b) The Group had the following related party transactions with the major related parties:


	Nine months ended September 30,
	2019		2020		2020
	RMB		RMB		US$
Membership services
Membership services revenue earned from memberships sold to Baidu Group		14,051		11,900		1,753
Membership services revenue earned from memberships sold by Others		8,047		740		109
Online advertising revenues
Advertising services provided to Baidu Group		37,484		94,651		13,941
Advertising services provided to Others		14,151		59,074		8,701
Content distribution revenues
Content licensed to Others		389,990		137,597		20,266
Other revenues
Other services provided to Baidu Group		7,946		11,976		1,764
Other services provided to Others		31,022		30,019		4,421
Interest income
Loans due from Others		3,596		1,247		184

		506,287		347,204		51,139

Cost of revenues
License fees to Baidu Group		18,902		11,839		1,744
Bandwidth fee to Baidu Group		747,194		763,801		112,496
Traffic acquisition and other services provided by Baidu Group (i)		119,652		—		—
Others (ii)		80,196		52,244		7,695
Selling, general and administrative
Advertising services provided by Baidu Group		1,440		771		114
Others		1,042		16,362		2,410
Research and development
Cloud services provided by Baidu Group		12,085		7,381		1,087

		980,511		852,398		125,546

(i)

(ii)

For the nine months ended September 30, 2019 and 2020, the Group purchased contents from various equity investees for total amounts of RMB510,889 and

RMB993,652

(US$ 146,349), respectively.

c) The Group had the following related party balances with the major related parties:


	As of
	December 31, 2019		September 30, 2020		September 30, 2020
	RMB		RMB		US$
Amounts due from related parties, current:
Due from Baidu Group (i)		35,560		48,868		7,197
Loans receivable from Others (ii)		105,934		—		—
Due from Others (iii)		70,499		120,931		17,812

		211,993		169,799		25,009

Amounts due from related parties, non-current:
Due from Others (iv)		172,200		242,000		35,643

		172,200		242,000		35,643


	As of
	December 31, 2019		September 30, 2020		September 30, 2020
	RMB		RMB		US$
Amounts due to related parties, current:
Loans due to Baidu Group (v)		50,000		50,000		7,364
Due to Baidu Group (vi)		1,014,283		800,815		117,947
Deferred revenue in relation to services to be provided to an equity investee (vii)		169,677		166,144		24,470
Due to Others (viii)		370,298		811,126		119,467

		1,604,258		1,828,085		269,248

Amounts due to related parties, non-current:
Loans due to Baidu Group (v)		650,000		650,000		95,735
Due to Baidu Group (vi)		1,570		2,050		302
Deferred revenue in relation to services to be provided to an equity investee (vii)		410,187		341,512		50,299
Due to Others		126		46		7

		1,061,883		993,608		146,343

(i)	The balance mainly represents amounts due from Baidu Group for advertising services.

(ii)	The balance as of December 31, 2019 represents loans provided to a Group’s equity investee with an interest rate of 5%, which were fully repaid during the nine months ended September 30, 2020.

(iii)

The balance mainly represents amounts due from or advances made to equity investees for content distribution service and other services.

(iv)	The balance represents prepaid licensed copyrights for the Group’s equity investees.

(v)	The total outstanding balance represents an interest-free loan of RMB50,000, which is due on demand and an interest-free loan of RMB650,000 provided by Baidu in January 2018 that will mature in January 2023.

(vi)	The balance mainly represents amounts owed to Baidu for provision of bandwidth and cloud services.

(vii)

The balance represents deferred revenue in relation to content distribution, licenses of intellectual property and traffic support services to be provided to an equity investee.

(viii)

The balance mainly represents amounts owed to the Group’s equity investees for licensed copyrights and advances made for online advertising services.

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured or Disclosed at Fair Value on a Recurring Basis and Non-Recurring Fair Value Measurements

The following table sets forth the financial instruments measured at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2019 and September 30, 2020 and on a

non-recurring

basis as of December 31, 2019 and September 30, 2020:


		Fair Value Measurements
	Quoted Prices in Active Market for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gain/(Losses)
	RMB	RMB		RMB		RMB			US$
Recurring
As of December 31, 2019:
Short-term investments
Available-for-sale debt securities			890,459

Held-to-maturity debt securities			3,688,854

Long-term investments
Available-for-sale debt security					10,259

Held-to-maturity debt securities			490,799

Prepayment and other assets
Option to purchase equity interests of a listed company					14

Convertible senior notes			14,142,006

As of September 30, 2020:
Short-term investments
Available-for-sale debt securities			791,593

Held-to-maturity debt securities			2,812,298

Long-term investments
Held-to-maturity debt securities			495,533

Convertible senior notes			13,280,458

Non-recurring
As of December 31, 2019:
Long-term investments					—		(169,374	)

Intangible assets, net					72,302		(99,096	)

Equity investments at fair value without readily determinable fair value					44,198		7,024

As of September 30, 2020:
Long-term investments					—		(73,199	)		(10,781	)

Equity investments at fair value without readily determinable fair value					101,594		38,100			5,612

Fixed assets					—		(95,111	)		(14,008	)
Prepayments and other assets					110,000		(48,423	)		(7,132	)


		Fair Value Measurements
	Quoted Prices in Active Market for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)		Total Gain/(Losses)
	RMB	RMB	RMB		RMB			US$
Mainland China film group – Licensed copyrights as of March 31, 2020				7,186,037		(390,299	)		(57,485	)

Mainland China film group – Produced content as of March 31, 2020				4,124,114		(209,701	)		(30,886	)

Produced content monetized on its own				29,907		(186,933	)		(27,532	)

The valuation technique and significant unobservable inputs (Level 3) utilized to determine the fair value of the Mainland China film group

The valuation technique and significant unobservable inputs (Level 3) utilized to determine the fair value of the Mainland China film group are as follows:


Asset	Valuation technique	Unobservable inputs	Range
Mainland China film group	Discounted cash flow	Costs and operating expenses attributable to the film group as a percentage of revenue	32%-37%
		Discount rate	15%

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Changes in Accumulated Other Comprehensive Income by Component, Net of Tax

The changes in accumulated other comprehensive income by component, net of tax, for the nine months ended September 30, 2019 and 2020 are as follows:


	Foreign currency translation adjustment			Unrealized gain on available-for-sale debt securities			Total
	RMB			RMB			RMB
Balance at December 31, 2018		1,879,171			775			1,879,946
Other comprehensive income before reclassification		613,424			6,855			620,279
Amounts reclassified from accumulated other comprehensive income		—			(7,137	)		(7,137	)

Net current-period other comprehensive income/(loss)		613,424			(282	)		613,142
Other comprehensive (income)/loss attributable to noncontrolling interests		(1,145	)		38			(1,107	)

Balance at September 30, 2019		2,491,450			531			2,491,981


	Foreign currency translation adjustment		Unrealized gain on available-for-sale debt securities			Total
	RMB		RMB			RMB
Balance at December 31, 2019		2,106,219		499			2,106,718
Other comprehensive income before reclassification		166,781		11,254			178,035
Amounts reclassified from accumulated other comprehensive income		—		(11,569	)		(11,569	)

Net current-period other comprehensive income/(loss)		166,781		(315	)		166,466
Other comprehensive loss attributable to noncontrolling interests		1,088		4			1,092

Balance at September 30, 2020		2,274,088		188			2,274,276

Balance at September 30, 2020, in US$		334,937		28			334,965

Tax Benefit/(Expense) Allocated to Each Component of Other Comprehensive Income

The following table sets forth the tax benefit/(expense) allocated to each component of other comprehensive income for the nine months ended September 30, 2019 and 2020:


	For the nine months ended September 30,
	2019			2020			2020
	RMB			RMB			US$
Unrealized gains on available-for-sale debt securities
Other comprehensive income before reclassification		(1,174	)		(2,105	)		(310	)
Amounts reclassified from accumulated other comprehensive income		1,246			2,145			316

Net current-period other comprehensive income		72			40			6

Organization and Basis of Presentation - Schedule of Major Subsidiaries,VIEs and VIEs' Subsidiaries (Details)	9 Months Ended
	Sep. 30, 2020
Subsidiaries \| Beijing QIYI Century Science & Technology Co., Ltd. ("Beijing QIYI Century")
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	PRC
Date of Establishment/Acquisition	Mar. 08, 2010
Effective interest held	100.00%
Subsidiaries \| Chongqing QIYI Tianxia Science & Technology Co., Ltd. ("QIYI Tianxia")
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	PRC
Date of Establishment/Acquisition	Nov. 03, 2010
Effective interest held	100.00%
Subsidiaries \| iQIYI HK Limited ("QIYI HK")
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	Hong Kong
Date of Establishment/Acquisition	Apr. 14, 2011
Effective interest held	100.00%
Subsidiaries \| iQIYI Film Group Limited
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	Cayman
Date of Establishment/Acquisition	May 26, 2017
Effective interest held	100.00%
Subsidiaries \| iQIYI Media Limited
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	Cayman
Date of Establishment/Acquisition	May 26, 2017
Effective interest held	100.00%
Subsidiaries \| iQIYI Film Group HK Limited
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	Hong Kong
Date of Establishment/Acquisition	Jun. 12, 2017
Effective interest held	100.00%
Subsidiaries \| Beijing iQIYI New Media Science & Technology Co., Ltd. ("iQIYI New Media")
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	PRC
Date of Establishment/Acquisition	Jul. 27, 2017
Effective interest held	100.00%
Subsidiaries \| Skymoons Inc.
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	Cayman
Date of Establishment/Acquisition	Jul. 17, 2018
Effective interest held	100.00%
Subsidiaries \| Magic Prime Group Limited
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	BVI
Date of Establishment/Acquisition	Jul. 17, 2018
Effective interest held	80.00%
Subsidiaries \| Special (Hong Kong) Co., Ltd.
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	Hong Kong
Date of Establishment/Acquisition	Jul. 17, 2018
Effective interest held	80.00%
Subsidiaries \| iQIYI International Singapore Pte, Ltd.
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	Singapore
Date of Establishment/Acquisition	Feb. 11, 2020
Effective interest held	100.00%
Variable Interest Entities \| Shanghai iQIYI Culture Media Co., Ltd. ("Shanghai iQIYI")
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	PRC
Date of Establishment/Acquisition	Dec. 19, 2012
Variable Interest Entities \| Beijing iQIYI Science & Technology Co., Ltd. ("Beijing iQIYI "; formerly known as Beijing Xinlian Xinde Advertisement Media Co., Ltd.)
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	PRC
Date of Establishment/Acquisition	Nov. 23, 2011
Variable Interest Entities \| Shanghai Zhong Yuan Network Co., Ltd. ("Shanghai Zhong Yuan")
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	PRC
Date of Establishment/Acquisition	May 11, 2013
Variable Interest Entities \| iQIYI Pictures (Beijing) Co., Ltd. ("iQIYI Pictures")
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	PRC
Date of Establishment/Acquisition	Dec. 31, 2014
Variable Interest Entities \| Beijing iQIYI Intelligent Entertainment Technology Co., Ltd. ("Intelligent Entertainment", formerly known as Beijing iQIYI Cinema Management Co., Ltd.)
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	PRC
Date of Establishment/Acquisition	Jun. 28, 2017
Variable Interest Entities \| Tianjin Skymoons Technology Co., Ltd. ("Tianjin Skymoons")
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	PRC
Date of Establishment/Acquisition	Jul. 17, 2018
Variable Interest Entities \| Chengdu Skymoons Digital Entertainment Co., Ltd.( "Chengdu Skymoons")
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	PRC
Date of Establishment/Acquisition	Jul. 17, 2018
Variable Interest Entities \| Chengdu Skymoons Interactive Network Game Co., Ltd.("Skymoons Interactive")
Organization And Basis Of Presentation [Line Items]
Place of Incorporation	PRC
Date of Establishment/Acquisition	Jul. 17, 2018

Organization and Basis of Presentation - Additional Information (Details) - CNY (¥)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Organization And Basis Of Presentation [Line Items]
Pledge or collateralization of VIEs and VIEs' subsidiaries' assets	¥ 0
Revenue \| Product Concentration Risk
Organization And Basis Of Presentation [Line Items]
Concentration risk by percentage	91.00%	94.00%

Organization and Basis of Presentation - Schedule of VIEs and VIEs' Subsidiaries Included in Consolidated Balance Sheets and Statements of Comprehensive Loss (Details) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 3,163,128			$ 465,878	¥ 5,934,742
Short-term investments	3,603,891			530,796	4,579,313
Accounts receivable, net	3,260,191			480,174	3,627,749
Licensed copyrights, net	952,996			140,362	716,008
Total current assets	15,563,502			2,292,256	20,272,838
Non-current assets:
Fixed assets, net	1,463,733			215,585	1,754,367
Licensed copyrights, net	1,157,843			170,532	1,640,582
Long-term investments	3,710,782			546,539	2,982,154
Produced content, net	5,145,750			757,887	4,355,221
Operating lease assets	1,001,648			147,527	722,742
Goodwill	3,888,346			572,691	3,888,346
Total non-current assets	25,324,706			3,729,926	24,519,712
Total assets	40,888,208			6,022,182	44,792,550
Current liabilities:
Accounts payable	7,455,954			1,098,143	8,212,449
Customer advances and deferred revenue	3,064,785			451,394	3,081,407
Long-term loans, current portion	733,365			108,013	736,814
Operating lease liabilities, current portion	197,673			29,114	125,412
Total current liabilities	20,503,456			3,019,831	20,173,166
Non-current liabilities:
Long-term loans	628,286			92,537	880,278
Operating lease liabilities	757,882			111,624	402,732
Others	207,071			30,498	232,555
Total non-current liabilities	14,907,839			2,195,688	14,904,452
Revenues	22,249,035	$ 3,276,928	¥ 21,497,034
Net loss	(5,475,082)	(806,394)	(7,800,830)
Net cash provided by operating activities	(3,891,624)	(573,174)	1,563,644
Net cash used for investing activities	(122,175)	(17,994)	(9,660,661)
Net cash provided by financing activities	981,429	144,548	8,139,555
Variable Interest Entities
Current assets:
Cash and cash equivalents	909,623			133,973	882,743
Short-term investments	228,179			33,607	169,565
Accounts receivable, net	2,750,509			405,106	2,839,945
Prepayments and other assets	2,958,358			435,718	3,202,489
Total current assets	7,799,665			1,148,766	7,810,750
Non-current assets:
Fixed assets, net	726,666			107,026	856,116
Long-term investments	2,249,307			331,287	2,130,467
Operating lease assets	736,802			108,519	649,273
Goodwill	2,412,989			355,395	2,412,989
Others	986,015			145,225	1,552,160
Total non-current assets	13,415,372			1,975,871	13,596,808
Total assets	21,215,037			3,124,637	21,407,558
Current liabilities:
Accounts payable	3,920,413			577,414	4,193,022
Customer advances and deferred revenue	2,964,704			436,654	2,982,011
Long-term loans, current portion	712,253			104,904	732,213
Operating lease liabilities, current portion	100,201			14,758	95,905
Accrued expenses and other liabilities	3,949,158			581,648	4,090,314
Total current liabilities	11,646,729			1,715,378	12,093,465
Non-current liabilities:
Long-term loans	664,299			97,841	937,782
Operating lease liabilities	620,583			91,402	364,853
Others	528,030			77,770	630,195
Total non-current liabilities	1,812,912			267,013	1,932,830
Amounts due to the Company and its subsidiaries	15,618,372			2,300,338	13,583,317
Total liabilities	29,078,013			$ 4,282,729	¥ 27,609,612
Revenues	20,351,564	2,997,461	20,116,714
Net loss	(1,940,779)	(285,846)	(1,943,153)
Net cash provided by operating activities	259,018	38,149	1,644,590
Net cash used for investing activities	(364,693)	(53,714)	(2,173,941)
Net cash provided by financing activities	¥ 152,753	$ 22,498	¥ 586,135

Organization and Basis of Presentation - Schedule of VIEs and VIEs' Subsidiaries Included in Consolidated Balance Sheets and Statements of Comprehensive Loss (Parenthetical) (Details) ¥ in Thousands, $ in Thousands	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Variable Interest Entity [Line Items]
Long-term loans, current portion	¥ 733,365	$ 108,013	¥ 736,814
Non-current loan	628,286	92,537	880,278
Variable Interest Entities
Variable Interest Entity [Line Items]
Long-term loans, current portion	712,253	104,904	732,213
Non-current loan	664,299	97,841	937,782
Variable Interest Entities \| Long-term Loan, Current Portion
Variable Interest Entity [Line Items]
Long-term loans, current portion	424,000	62,448	424,000
Variable Interest Entities \| Long-term Loans
Variable Interest Entity [Line Items]
Non-current loan	¥ 527,000	$ 77,619	¥ 527,000

Summary of Significant Accounting Policies - Additional Information (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands		9 Months Ended			12 Months Ended
	Dec. 04, 2018 USD ($)	Sep. 30, 2020 CNY (¥) LicensedCopyright Customer ¥ / shares	Sep. 30, 2020 USD ($) LicensedCopyright Customer $ / shares	Sep. 30, 2019 CNY (¥)	Dec. 31, 2019 CNY (¥) Customer	Sep. 30, 2020 USD ($)	Jan. 01, 2020 CNY (¥)
Summary Of Significant Accounting Policies [Line Items]
Accumulated deficit balance		¥ (39,424,412)			¥ (33,834,357)	$ (5,806,588)
Net income		(5,490,747)	$ (808,701)	¥ (7,829,544)
Contract liabilities		3,957,230			3,954,763	$ 582,837
Cash paid for content (licensed copyrights and produced content)		11,941,392	1,758,777
Working capital deficit		¥ 4,940,000	$ 727,600
Renminbi ("RMB") to per one U.S. dollar exchange rate		6.7896				6.7896
Content assets amortization period cap		10 years	10 years
Number of types of licensed copyrights \| LicensedCopyright		2	2
Barter transaction, gross operating revenue recognized		¥ 957,675	$ 141,050	493,570
Allowance for credit losses on accounts receivable and contract assets, including amounts due from related parties		11,389			¥ 7,225	$ 1,677
Revenue recognition of contract liability		¥ 2,694,143	$ 396,804
Longest expected length of revenue contracts		1 year	1 year
Cash and cash equivalents and restricted cash		¥ 3,818,781				562,445
Accounts Receivable and Contract Assets
Summary Of Significant Accounting Policies [Line Items]
Number of customer accounting for more than ten percent of the total accounts receivable and contract asset balance \| Customer		0	0		0
Accounts Receivable and Contract Assets \| Credit Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Concentration risk by percentage		10.00%	10.00%		10.00%
Prepayments and Other Assets
Summary Of Significant Accounting Policies [Line Items]
Contract assets		¥ 1,590,327			¥ 1,875,704	234,230
ASU 2016-13
Summary Of Significant Accounting Policies [Line Items]
Accumulated deficit balance \| ¥							¥ 94,048
Accounts receivable and contract assets, including amounts due from related parties, provisions		214,388	$ 31,576
Accounts receivable and contract assets, including amounts due from related parties, write-offs		49,194	7,245
Allowance for credit losses on accounts receivable and contract assets, including amounts due from related parties		400,719			¥ 151,799	59,020
ASC topic 926 \| iQIYI Licensed Copyright
Summary Of Significant Accounting Policies [Line Items]
Barter transaction, gross operating revenue recognized		957,675	141,050	493,570
Barter transaction, costs recognized		¥ 710,199	$ 104,601	¥ 411,921
Maximum
Summary Of Significant Accounting Policies [Line Items]
Content assets amortization period cap		10 years	10 years
2023 Convertible Senior Notes
Summary Of Significant Accounting Policies [Line Items]
Debt instrument, face amount \| $	$ 750,000					$ 750,000
Debt Instrument, repurchase date	Dec. 01, 2021	Dec. 01, 2021	Dec. 01, 2021
Licensed Copyrights and Produced Content [Member]
Summary Of Significant Accounting Policies [Line Items]
Decrease in Amortization expenses		¥ 398,469	$ 58,688
Net income		¥ 398,469	$ 58,688
Licensed Copyrights and Produced Content [Member] \| ClassA and ClassB Ordinary Share [Member]
Summary Of Significant Accounting Policies [Line Items]
Decrease in basic and diluted net loss \| (per share)		¥ 0.08	$ 0.01

Shareholders' Equity - Summary of Changes in Shareholders' Equity (Details) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥) shares	Sep. 30, 2020 USD ($) shares	Sep. 30, 2019 CNY (¥) shares
Schedule Of Stockholders Equity [Line Items]
Balances	¥ 9,613,390		¥ 18,155,563
Net loss attributable to iQIYI, Inc.	(5,475,082)		(7,800,830)
Other comprehensive income	166,466	$ 24,518	613,142
Exercise of share-based awards	165,978		93,060
Issuance of a subsidiary's shares to noncontrolling interest holders	114		3,500
Accretion of a redeemable noncontrolling interest	(5,260)
Dividends paid and payable by a subsidiary	(22,563)
Share-based compensation	1,021,116		769,527
Equity component of convertible senior notes, net of issuance costs			987,691
Purchase of capped call			(567,140)
Acquisition of noncontrolling interests in a subsidiary			(65,000)
Others	0
Balances	5,370,111	$ 790,933	¥ 12,189,513
Accounting Standards Update 2016-13 [Member]
Schedule Of Stockholders Equity [Line Items]
Retained Earnings	¥ (94,048)
Ordinary Shares
Schedule Of Stockholders Equity [Line Items]
Balances (in shares) \| shares	5,135,516,521	5,135,516,521	5,075,817,301
Balances	¥ 325		¥ 321
Net loss attributable to iQIYI, Inc.	0		0
Other comprehensive income	¥ 0		¥ 0
Exercise of share-based awards (in shares) \| shares	59,727,931	59,727,931	41,428,030
Exercise of share-based awards	¥ 4		¥ 3
Issuance of a subsidiary's shares to noncontrolling interest holders	0		0
Accretion of a redeemable noncontrolling interest	0
Dividends paid and payable by a subsidiary	0
Share-based compensation	0		0
Equity component of convertible senior notes, net of issuance costs			0
Purchase of capped call			0
Acquisition of noncontrolling interests in a subsidiary			¥ 0
Others	¥ 0
Balances (in shares) \| shares	5,195,244,452	5,195,244,452	5,117,245,331
Balances	¥ 329	$ 49	¥ 324
Ordinary Shares \| Accounting Standards Update 2016-13 [Member]
Schedule Of Stockholders Equity [Line Items]
Retained Earnings	0
Additional Paid-in Capital
Schedule Of Stockholders Equity [Line Items]
Balances	41,298,328		39,666,150
Net loss attributable to iQIYI, Inc.	0		0
Other comprehensive income	0		0
Exercise of share-based awards	165,974		93,057
Issuance of a subsidiary's shares to noncontrolling interest holders	(918)		0
Accretion of a redeemable noncontrolling interest	0
Dividends paid and payable by a subsidiary	0
Share-based compensation	1,021,116		769,527
Equity component of convertible senior notes, net of issuance costs			987,691
Purchase of capped call			(567,140)
Acquisition of noncontrolling interests in a subsidiary			(71,620)
Others	(20,026)
Balances	42,464,474	6,254,341	40,877,665
Additional Paid-in Capital \| Accounting Standards Update 2016-13 [Member]
Schedule Of Stockholders Equity [Line Items]
Retained Earnings	0
Accumulated Other Comprehensive Income
Schedule Of Stockholders Equity [Line Items]
Balances	2,106,718		1,879,946
Net loss attributable to iQIYI, Inc.	0		0
Other comprehensive income	167,558		612,035
Exercise of share-based awards	0		0
Issuance of a subsidiary's shares to noncontrolling interest holders	0		0
Accretion of a redeemable noncontrolling interest	0
Dividends paid and payable by a subsidiary	0
Share-based compensation	0		0
Equity component of convertible senior notes, net of issuance costs			0
Purchase of capped call			0
Others	0
Balances	2,274,276	334,965	2,491,981
Accumulated Other Comprehensive Income \| Accounting Standards Update 2016-13 [Member]
Schedule Of Stockholders Equity [Line Items]
Retained Earnings	0
Accumulated Deficit
Schedule Of Stockholders Equity [Line Items]
Balances	(33,834,357)		(23,509,486)
Net loss attributable to iQIYI, Inc.	(5,490,747)		(7,829,544)
Other comprehensive income	0		0
Exercise of share-based awards	0		0
Issuance of a subsidiary's shares to noncontrolling interest holders	0		0
Accretion of a redeemable noncontrolling interest	(5,260)
Dividends paid and payable by a subsidiary	0
Share-based compensation	0		0
Equity component of convertible senior notes, net of issuance costs			0
Purchase of capped call			0
Others	0
Balances	(39,424,412)	(5,806,588)	(31,339,030)
Accumulated Deficit \| Accounting Standards Update 2016-13 [Member]
Schedule Of Stockholders Equity [Line Items]
Retained Earnings	(94,048)
Noncontrolling interests
Schedule Of Stockholders Equity [Line Items]
Balances	42,376		118,632
Net loss attributable to iQIYI, Inc.	15,665		28,714
Other comprehensive income	(1,092)		1,107
Exercise of share-based awards	0		0
Issuance of a subsidiary's shares to noncontrolling interest holders	1,032		3,500
Accretion of a redeemable noncontrolling interest	0
Dividends paid and payable by a subsidiary	(22,563)
Share-based compensation	0		0
Equity component of convertible senior notes, net of issuance costs			0
Purchase of capped call			0
Acquisition of noncontrolling interests in a subsidiary			6,620
Others	20,026
Balances	55,444	$ 8,166	¥ 158,573
Noncontrolling interests \| Accounting Standards Update 2016-13 [Member]
Schedule Of Stockholders Equity [Line Items]
Retained Earnings	¥ 0

Long-term Investments - Additional Information (Details) ¥ in Thousands, $ in Thousands	9 Months Ended			12 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Jul. 31, 2018 CNY (¥)
Summary Of Investment Holdings [Line Items]
Impairment charges recognized on equity investments without readily determinable fair values	¥ 73,199	$ 10,781	¥ 27,100
Equity method investments	552,437				$ 81,365	¥ 663,376
Held-to-maturity debt securities maturity period				2 years
Long-term debt securities, held-to-maturity \| $				$ 71,000
Carrying value of long-term held-to-maturity debt securities	482,462				71,059
Unrecognized holding loss	0					4,911
Gross unrecognized holding gain	¥ 13,071				$ 1,925	¥ 0
Beijing Xin'ai Sports Media Technology co., LTD
Summary Of Investment Holdings [Line Items]
Equity method investment, ownership percentage	24.00%				24.00%		32.00%
Equity method investments							¥ 796,000
Basis differences and investment goodwill							¥ 609,502

Long-term Investments - Summary of Carrying Amount of the Company's Equity Investments (Details) ¥ in Thousands, $ in Thousands	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Equity Method Investments [Abstract]
Initial cost basis	¥ 2,677,423	$ 394,342	¥ 1,797,421
Cumulative unrealized gains	235,258	34,650	196,663
Cumulative unrealized losses (including impairment)	(247,468)	(36,448)	(181,274)
Total Carrying Amount	¥ 2,665,213	$ 392,544	¥ 1,812,810

Long-term Investments - Schedule of Realized and Unrealized Gains and Losses for Equity Securities Without Readily Determinable Fair Values (Details) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)
Schedule Of Investments [Abstract]
Gross unrealized gains (upward adjustments)	¥ 38,595	$ 5,685	¥ 6,076
Gross unrealized losses (downward adjustments excluding impairment)	(495)	(73)	0
Net unrealized gains and losses on equity securities held	38,100	5,612	6,076
Net realized gains on equity securities sold	0	0	0
Total net gains recognized in other income, net	¥ 38,100	$ 5,612	¥ 6,076

Licensed Copyrights, Net - Additional Information (Details) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)
Finite Lived License Agreements [Line Items]
Acquisition of licensed copyrights included in current liabilities			¥ 6,540,834
Acquisition of licensed copyrights from nonmonetary content exchanges			746,255
Licensed Copyrights
Finite Lived License Agreements [Line Items]
Amortization expense	¥ 8,599,610	$ 1,266,586	¥ 9,531,104

Licensed Copyrights, Net - Schedule of Licensed Copyrights, Net (Details) ¥ in Thousands, $ in Thousands	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Broadcasting Rights
Finite Lived License Agreements [Line Items]
Finite-Lived License Agreements, Gross	¥ 36,240,889		¥ 32,038,423
Finite-Lived License Agreements, Accumulated Amortization	(28,588,974)		(24,500,895)
Finite-Lived License Agreements, Impairment Amount	(365,799)		(25,317)
Finite-Lived License Agreements, Net	7,286,116	$ 1,073,128	7,512,211
Finite-Lived License Agreements, Gross, Current	8,889,238		11,752,412
Finite-Lived License Agreements, Accumulated Amortization, Current	(7,618,439)		(10,502,214)
Finite-Lived License Agreements, Impairment Amount, Current	(46,194)		(25,317)
Net carrying value, current portion	1,224,605	180,364	1,224,881
Gross carrying value, non-current portion	27,351,651		20,286,011
Finite-Lived License Agreements, Accumulated Amortization, Non-current	(20,970,535)		(13,998,681)
Finite-Lived License Agreements, Impairment Amount, Non-current	(319,605)		0
Net carrying value, non-current portion	6,061,511	892,764	6,287,330
Sublicensing Rights
Finite Lived License Agreements [Line Items]
Finite-Lived License Agreements, Gross	5,613,400		4,632,586
Finite-Lived License Agreements, Accumulated Amortization	(5,590,590)		(4,632,586)
Finite-Lived License Agreements, Impairment Amount	0		0
Finite-Lived License Agreements, Net	22,810	3,360	0
Finite-Lived License Agreements, Gross, Current	5,613,400		4,632,586
Finite-Lived License Agreements, Accumulated Amortization, Current	(5,590,590)		(4,632,586)
Finite-Lived License Agreements, Impairment Amount, Current	0		0
Net carrying value, current portion	22,810	3,360	0
Gross carrying value, non-current portion	0		0
Finite-Lived License Agreements, Accumulated Amortization, Non-current	0		0
Finite-Lived License Agreements, Impairment Amount, Non-current	0		0
Net carrying value, non-current portion	0	0	0
Licensed Copyrights
Finite Lived License Agreements [Line Items]
Finite-Lived License Agreements, Gross	41,854,289		36,671,009
Finite-Lived License Agreements, Accumulated Amortization	(34,179,564)		(29,133,481)
Finite-Lived License Agreements, Impairment Amount	(365,799)		(25,317)
Finite-Lived License Agreements, Net	7,308,926	1,076,488	7,512,211
Finite-Lived License Agreements, Gross, Current	14,502,638		16,384,998
Finite-Lived License Agreements, Accumulated Amortization, Current	(13,209,029)		(15,134,800)
Finite-Lived License Agreements, Impairment Amount, Current	(46,194)		(25,317)
Net carrying value, current portion	1,247,415	183,724	1,224,881
Gross carrying value, non-current portion	27,351,651		20,286,011
Finite-Lived License Agreements, Accumulated Amortization, Non-current	(20,970,535)		(13,998,681)
Finite-Lived License Agreements, Impairment Amount, Non-current	(319,605)		0
Net carrying value, non-current portion	¥ 6,061,511	$ 892,764	¥ 6,287,330

Licensed Copyrights, Net -Summary of Estimated Amortization Expense Relating to Licensed Copyrights (Details) - Sep. 30, 2020 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Estimated amortization expense
Three months ending December 31, 2020	¥ 1,510,992	$ 222,545
Year ending December 31, 2021	2,660,860	391,902
Year ending December 31, 2022	1,112,819	163,901
Year ending December 31, 2023	¥ 668,234	$ 98,420

Produced Content, Net - Additional Information (Details) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)
Cost of Revenues
Produced Content Net [Line Items]
Amortization expense for produced content predominantly monetized with other content assets during current period	¥ 2,228,522	$ 328,225
ProducedContent Predominantly Monetized With Other Content Assets
Produced Content Net [Line Items]
Amortization expense for produced content predominantly monetized with other content assets during current period	¥ 837,583	$ 123,363
Produced Content, Net
Produced Content Net [Line Items]
Amortization expense			¥ 2,324,085

Produced Content, Net - Components of Produced Content, Net (Details) ¥ in Thousands, $ in Thousands	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Theatrical Film Costs [Abstract]
Released, less amortization	¥ 1,571,099	$ 231,398	¥ 891,574
In production	3,080,104	453,650	3,074,946
In development	865,892	127,532	388,701
Released, less amortization and impairment
— Predominantly monetized with other content assets	1,516,977	223,427
— Predominantly monetized on its own	54,122	7,971
In production, less impairment
— Predominantly monetized with other content assets	2,897,231	426,716
— Predominantly monetized on its own	182,873	26,934
In development, less impairment
— Predominantly monetized with other content assets	774,712	114,103
— Predominantly monetized on its own	91,180	13,429
Total	¥ 5,517,095	$ 812,580	¥ 4,355,221

Produced Content, Net - Summary of Estimated Amortization Expense Relating to Produced Content: (Details) - Sep. 30, 2020 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Estimated Amortization Expense Relating To Produced Content [Line Items]
Three months ending December 31, 2020	¥ 326,064	$ 48,024
Year ending December 31, 2021	421,467	62,075
Year ending December 31, 2022	214,681	31,619
Year ending December 31, 2023	¥ 147,147	$ 21,672

Loans Payable - Additional Information (Details) ¥ in Thousands, $ in Thousands	1 Months Ended	9 Months Ended			12 Months Ended
	Nov. 30, 2019 CNY (¥)	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Legally obligation to pay the banks or other financial institutions		¥ 395,943	$ 58,316
Outstanding borrowings from the factoring arrangements		384,428	$ 56,620
Short-term loans		¥ 3,804,396			¥ 2,618,170			$ 560,327
Debt instrument, collateral description		As of December 31, 2019, and September 30, 2020, the repayments of primarily all of the short-term loans are guaranteed by subsidiaries within the Group and either collateralized by an office building of one of the Group’s VIEs with a carrying amount of RMB561,515 and RMB551,734 (US$81,262), respectively, or collateralized by restricted cash balances totaling US$138,572 and US$93,572 (equivalent to RMB635,316), respectively.	As of December 31, 2019, and September 30, 2020, the repayments of primarily all of the short-term loans are guaranteed by subsidiaries within the Group and either collateralized by an office building of one of the Group’s VIEs with a carrying amount of RMB561,515 and RMB551,734 (US$81,262), respectively, or collateralized by restricted cash balances totaling US$138,572 and US$93,572 (equivalent to RMB635,316), respectively.
Debt instrument, collateralized restricted cash		¥ 635,316						$ 93,572	$ 138,572
Weighted average interest rate		4.21%			4.05%			4.21%	4.05%
Unused line of credit for short-term loans		¥ 1,682,054			¥ 1,620,520			$ 247,740
Proceeds from long-term loan and borrowings from third party investors, net of issuance costs		0	$ 0	¥ 295,395
Loans repayable within one year		733,365			736,814			108,013
Non-current loan		¥ 628,286			880,278			$ 92,537
Borrowings from Third-Party Investors \| 2018 Asset-Backed Debt Securities
Debt Instrument [Line Items]
Repayment of debt					74,992
Accounts payable factored to financial institution						¥ 525,279
Debt securities maturity period description		debt securities securitized by the 2018 factored receivables, maturing in December 2019 and December 2020	debt securities securitized by the 2018 factored receivables, maturing in December 2019 and December 2020
Proceeds from long-term loan and borrowings from third party investors, net of issuance costs						¥ 446,000
Effective interest rate		7.00%						7.00%
Borrowings from Third-Party Investors \| 2018 Asset-Backed Debt Securities \| Minimum
Debt Instrument [Line Items]
Annual interest rate						5.00%
Borrowings from Third-Party Investors \| 2018 Asset-Backed Debt Securities \| Maximum
Debt Instrument [Line Items]
Annual interest rate						5.50%
Borrowings from Third-Party Investors \| 2019 Asset-Backed Debt Securities
Debt Instrument [Line Items]
Annual interest rate	5.10%
Accounts payable factored to financial institution	¥ 587,000
Debt securities maturity period description		debt securities securitized by the 2019 factored receivables, maturing in November 2021	debt securities securitized by the 2019 factored receivables, maturing in November 2021
Proceeds from long-term loan and borrowings from third party investors, net of issuance costs	¥ 500,000
Effective interest rate		5.97%						5.97%
Borrowings from Third-Party Investors \| Asset-Backed Debt Securities
Debt Instrument [Line Items]
Outstanding borrowings		¥ 936,100			¥ 898,097			$ 137,873
Bank of China
Debt Instrument [Line Items]
Bank loan maturity period							3 years
Maximum borrowing capacity under credit facility							¥ 299,000
Annual interest rate							4.47%
Repayment of debt		274,000	$ 40,356	5,000
JPMorgan Chase Bank, N.A.
Debt Instrument [Line Items]
Debt instrument, collateral description					the repayment of the loan is collateralized by long-term held-to-maturity debt securities with a stated cost of US$71,000 and US$71,000 (equivalent to RMB482,062)
Debt instrument, collateralized asset carrying amount		482,062						71,000	$ 71,000
Bank loan maturity period					2 years
Maximum borrowing capacity under credit facility					¥ 800,000
Annual interest rate					3.55%				3.55%
Amount borrowed under the commitment of a bank loan					¥ 447,949
Repayment of debt		19,444	$ 2,864	¥ 0
Long-term Loan, Current Portion \| Borrowings from Third-Party Investors \| Asset-Backed Debt Securities
Debt Instrument [Line Items]
Loans repayable within one year		445,113						65,558
Long-term Loan \| Borrowings from Third-Party Investors \| 2019 Asset-Backed Debt Securities
Debt Instrument [Line Items]
Non-current loan		490,987						72,315
Building \| Bank of China
Debt Instrument [Line Items]
Debt instrument, collateralized asset carrying amount					561,515
Building \| Short-term Loan
Debt Instrument [Line Items]
Debt instrument, collateralized asset carrying amount		¥ 551,734			¥ 561,515			$ 81,262

Convertible Senior Notes - Additional Information (Details) ¥ in Thousands			9 Months Ended
	Mar. 29, 2019 USD ($) Day $ / shares	Dec. 04, 2018 USD ($) Day $ / shares	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Debt Instrument [Line Items]
Net carrying amount of the liability component			¥ 12,307,243			$ 1,812,661,000	¥ 12,296,868
2023 Convertible Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		$ 750,000,000				$ 750,000,000
Debt instrument, payment terms			The 2023 Notes are senior, unsecured obligations of the Company, and interest is payable semi-annually in cash at a rate of 3.75% per annum on June 1 and December 1 of each year, beginning on June 1, 2019.	The 2023 Notes are senior, unsecured obligations of the Company, and interest is payable semi-annually in cash at a rate of 3.75% per annum on June 1 and December 1 of each year, beginning on June 1, 2019.
Debt instrument, frequency of periodic payment		semi-annually
Annual interest rate		3.75%
Loan agreement expiration date		Dec. 01, 2023
Debt Instrument, repurchase date		Dec. 01, 2021	Dec. 01, 2021	Dec. 01, 2021
Percentage of repurchase price is equal to principal amount of convertible notes		100.00%
Effective interest rate			7.04%			7.04%
Proceeds from issuance of notes		$ 736,700,000
Underwriting discounts and offering expenses		$ 13,300,000
Liability accreted remaining period			1 year 2 months 1 day	1 year 2 months 1 day
2023 Convertible Senior Notes \| American Depositary Shares
Debt Instrument [Line Items]
Debt instrument, initial conversion rate		37.1830
Debt instrument, conversion basis principle amount		$ 1,000
Debt instrument, initial conversion price \| $ / shares		$ 26.89
Debt instrument, convertible threshold trading days \| Day		20
Debt instrument, convertible threshold consecutive trading days \| Day		30
Debt instrument, convertible threshold percentage		130.00%
Number of business days \| Day		5
Product percentage of closing sale price		98.00%
Purchase price of capped call options		$ 67,500,000
Capped call options cap price \| $ / shares		38.42
Cost of capped call recorded as reduction in additional paid-in capital		$ 67,500,000
2023 Convertible Senior Notes \| American Depositary Shares \| Redemption Period
Debt Instrument [Line Items]
Debt instrument, convertible threshold consecutive trading days \| Day		10
2025 Convertible Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 1,200,000,000					$ 1,200,000,000
Debt instrument, payment terms			The 2025 Notes are senior, unsecured obligations of the Company, and interest is payable semi-annually in cash at a rate of 2.00% per annum on October 1 and April 1 of each year, beginning on October 1, 2019.	The 2025 Notes are senior, unsecured obligations of the Company, and interest is payable semi-annually in cash at a rate of 2.00% per annum on October 1 and April 1 of each year, beginning on October 1, 2019.
Debt instrument, frequency of periodic payment	semi-annually
Annual interest rate	2.00%
Loan agreement expiration date	Apr. 01, 2025
Debt Instrument, repurchase date	Apr. 01, 2023
Percentage of repurchase price is equal to principal amount of convertible notes	100.00%
Effective interest rate			6.01%			6.01%
Proceeds from issuance of notes	$ 1,179,000,000.0
Underwriting discounts and offering expenses	$ 21,000,000.0
Liability accreted remaining period			2 years 6 months	2 years 6 months
2025 Convertible Senior Notes \| American Depositary Shares
Debt Instrument [Line Items]
Debt instrument, initial conversion rate	33.0003
Debt instrument, conversion basis principle amount	$ 1,000
Debt instrument, initial conversion price \| $ / shares	$ 30.30
Debt instrument, convertible threshold trading days \| Day	20
Debt instrument, convertible threshold consecutive trading days \| Day	30
Debt instrument, convertible threshold percentage	130.00%
Number of business days \| Day	5
Product percentage of closing sale price	98.00%
Purchase price of capped call options	$ 84,500,000
Capped call options cap price \| $ / shares	40.02
Cost of capped call recorded as reduction in additional paid-in capital	$ 84,500,000
2025 Convertible Senior Notes \| American Depositary Shares \| Redemption Period
Debt Instrument [Line Items]
Debt instrument, convertible threshold consecutive trading days \| Day	10
2023 Notes and 2025 Notes
Debt Instrument [Line Items]
Debt instrument, face amount			¥ 13,241,500			$ 1,950,300,000	13,577,900
Unamortized debt discount			934,200			137,600,000	1,281,000
Net carrying amount of the liability component			12,307,300			1,812,700,000	12,296,900
Carrying amount of the equity component			1,349,300			$ 198,700,000	¥ 1,349,300
Interest cost recognized			¥ 595,600	$ 87,700,000	¥ 471,200

Income Taxes - Additional Information (Details) - CNY (¥)	9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Income Taxes [Line Items]
Statutory income tax rate	25.00%
Preferential income tax rate	17.00%
Effective tax rate	0.73%	0.38%
PRC Subsidiaries
Income Taxes [Line Items]
Percentage of withholding tax	25.00%
Hong Kong
Income Taxes [Line Items]
Withholding taxes	¥ 0
Statutory income tax rate	16.50%
China \| PRC Subsidiaries
Income Taxes [Line Items]
Uncertain tax positions, interest and penalties	¥ 0		¥ 0
China \| PRC Subsidiaries \| Earliest Tax Year
Income Taxes [Line Items]
Tax years remain open to examination by respective taxing jurisdictions	2015
China \| PRC Subsidiaries \| Latest Tax Year
Income Taxes [Line Items]
Tax years remain open to examination by respective taxing jurisdictions	2019
China \| PRC Subsidiaries \| Maximum
Income Taxes [Line Items]
Time period that tax authorities could conduct examinations of entity's tax filings	5 years

Commitments and Contingencies - Additional Information (Details) - Sep. 30, 2020 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Commitments And Contingencies Disclosure [Abstract]
Accrued expenses	¥ 34,494	$ 5,080
Recognized losses	¥ 2,216	$ 326

Commitments and Contingencies - Schedule of Future Minimum Payments Under Non-Cancelable Agreements for Property Management Fees (Details) - Sep. 30, 2020 - Property Management Fees ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Commitments And Contingencies Disclosure [Line Items]
2020	¥ 2,378	$ 350
2021	23,138	3,408
2022	23,667	3,486
2023	17,479	2,574
2024 and thereafter	41,225	6,072
Future minimum payments under non-cancelable agreements	¥ 107,887	$ 15,890

Commitments and Contingencies - Schedule of Future Minimum Payments Under Non-Cancelable Agreements for Licensed Copyrights (Details) - Sep. 30, 2020 - Licensed Copyrights and Produced Content ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Long Term Purchase Commitment [Line Items]
2020	¥ 6,107,029	$ 899,468
2021	7,743,333	1,140,470
2022	3,755,818	553,172
2023	1,734,388	255,448
2024 and thereafter	1,267,381	186,666
Future minimum payments under non-cancelable agreements	¥ 20,607,949	$ 3,035,224

Redeemable Noncontrolling Interests - Additional Information (Details) ¥ in Thousands, $ in Thousands		9 Months Ended
	Oct. 31, 2019 CNY (¥)	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)
Redeemable Noncontrolling Interest [Line Items]
Preferred shares financing from third-party preferred shareholders		¥ 0	$ 0
Variable Interest Entities
Redeemable Noncontrolling Interest [Line Items]
Preferred shares financing from third-party preferred shareholders	¥ 100,000

Redeemable Noncontrolling Interests - Schedule of Movement in Carrying Value of Redeemable Noncontrolling Interests (Details) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)
Temporary Equity Disclosure [Abstract]
Balance	¥ 101,542	$ 14,955
Issuance of subsidiary shares	0	0
Accretion of redeemable noncontrolling interests	5,260	775	¥ 0
Balance	¥ 106,802	$ 15,730

Restricted Net Assets - Additional Information (Details) - Variable Interest Entities ¥ in Thousands, $ in Thousands	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Restricted Net Assets [Line Items]
Statutory reserves	¥ 20,071	$ 2,956	¥ 23,073
Amounts of restricted paid-in capital and reserve funds of PRC subsidiaries and net assets of VIEs	¥ 18,644,489	$ 2,746,036

Loss Per Share - Schedule of Basic And Diluted Loss Per Share (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥) ¥ / shares shares	Sep. 30, 2020 USD ($) $ / shares shares	Sep. 30, 2019 CNY (¥) ¥ / shares shares
Numerator:
Net loss attributable to iQIYI, Inc.	¥ (5,490,747)	$ (808,701)	¥ (7,829,544)
Accretion of redeemable noncontrolling interests	(5,260)	(775)	0
Net loss attributable to iQIYI, Inc.'s ordinary shareholders	(5,496,007)	(809,476)	(7,829,544)
Class A Ordinary Shares
Numerator:
Net loss attributable to iQIYI, Inc.	(2,428,380)	(357,663)	(3,412,357)
Accretion of redeemable noncontrolling interests	(2,326)	(343)
Net loss attributable to iQIYI, Inc.'s ordinary shareholders	¥ (2,430,706)	$ (358,006)	¥ (3,412,357)
Denominator:
Weighted average number of ordinary shares outstanding, basic	2,280,906,536	2,280,906,536	2,222,064,998
Weighted average number of ordinary shares outstanding, diluted	2,280,906,536	2,280,906,536	2,222,064,998
Net loss per share, basic \| (per share)	¥ (1.07)	$ (0.16)	¥ (1.54)
Net loss per share, diluted \| (per share)	¥ (1.07)	$ (0.16)	¥ (1.54)
Class B Ordinary Shares
Numerator:
Net loss attributable to iQIYI, Inc.	¥ (3,062,367)	$ (451,038)	¥ (4,417,187)
Accretion of redeemable noncontrolling interests	(2,934)	(432)
Net loss attributable to iQIYI, Inc.'s ordinary shareholders	¥ (3,065,301)	$ (451,470)	¥ (4,417,187)
Denominator:
Weighted average number of ordinary shares outstanding, basic	2,876,391,396	2,876,391,396	2,876,391,396
Weighted average number of ordinary shares outstanding, diluted	2,876,391,396	2,876,391,396	2,876,391,396
Net loss per share, basic \| (per share)	¥ (1.07)	$ (0.16)	¥ (1.54)
Net loss per share, diluted \| (per share)	¥ (1.07)	$ (0.16)	¥ (1.54)

Related Party Transactions - Additional Information (Details) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)
Equity Investee \| Content purchases
Related Party Transaction [Line Items]
Related party transaction, purchases	¥ 993,652	$ 146,349	¥ 510,889

Related Party Transactions - Schedule of Related Party Transactions with Major Related Parties (Details) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)
Interest income
Interest income from related party	¥ 1,247	$ 184	¥ 3,596
Revenue from related parties including interest income	347,204	51,139	506,287
Cost of revenues
Cost of revenue to related party	827,884	121,935	965,944
Selling, general and administrative
Selling, general and administrative expenses to related party	17,133	2,524	2,482
Research and development
Research and development expenses to related party	7,381	1,087	12,085
Operating costs and expenses as well as interest expenses from related parties	852,398	125,546	980,511
Baidu
Research and development
Research and development expenses to related party	7,381	1,087	12,085
Others
Cost of revenues
Cost of revenue to related party	52,244	7,695	80,196
Selling, general and administrative
Selling, general and administrative expenses to related party	16,362	2,410	1,042
Membership services
Related Party Transaction [Line Items]
Revenue from related parties	12,640	1,862	22,098
Membership services \| Baidu
Related Party Transaction [Line Items]
Revenue from related parties	11,900	1,753	14,051
Membership services \| Others
Related Party Transaction [Line Items]
Revenue from related parties	740	109	8,047
Online Advertising Revenues
Related Party Transaction [Line Items]
Revenue from related parties	153,725	22,642	51,635
Online Advertising Revenues \| Baidu
Related Party Transaction [Line Items]
Revenue from related parties	94,651	13,941	37,484
Online Advertising Revenues \| Others
Related Party Transaction [Line Items]
Revenue from related parties	59,074	8,701	14,151
Other Revenues
Related Party Transaction [Line Items]
Revenue from related parties	41,995	6,185	38,968
Other Revenues \| Baidu
Related Party Transaction [Line Items]
Revenue from related parties	11,976	1,764	7,946
Other Revenues \| Others
Related Party Transaction [Line Items]
Revenue from related parties	30,019	4,421	31,022
Content distribution
Related Party Transaction [Line Items]
Revenue from related parties	137,597	20,266	389,990
Content distribution \| Others
Related Party Transaction [Line Items]
Revenue from related parties	137,597	20,266	389,990
License Fees \| Baidu
Cost of revenues
Cost of revenue to related party	11,839	1,744	18,902
Bandwidth Fee \| Baidu
Cost of revenues
Cost of revenue to related party	763,801	112,496	747,194
Advertising Services Expense \| Baidu
Selling, general and administrative
Selling, general and administrative expenses to related party	771	114	1,440
Traffic Acquisition and Other Services \| Baidu
Cost of revenues
Cost of revenue to related party	¥ 0	$ 0	¥ 119,652

Related Party Transactions - Schedule of Related Party Transactions with Major Related Parties (Parenthetical) (Details) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥) shares	Sep. 30, 2020 USD ($) shares	Sep. 30, 2019 CNY (¥)	Dec. 31, 2019 shares	Apr. 12, 2018 shares
Related Party Transaction [Line Items]
Cost of revenue to related party	¥ 827,884	$ 121,935	¥ 965,944
Equity Investee \| Revenue Sharing Arrangement
Related Party Transaction [Line Items]
Cost of revenue to related party	0	0	61,698
Related party transaction, amount of arrangement \| ¥	100,000
Traffic Acquisition and Other Services \| Baidu
Related Party Transaction [Line Items]
Cost of revenue to related party	¥ 0	$ 0	¥ 119,652
Class B Ordinary Shares
Related Party Transaction [Line Items]
Common stock, shares issued	2,876,391,396	2,876,391,396		2,876,391,396	36,860,691
Class B Ordinary Shares \| Traffic Acquisition and Other Services \| Baidu
Related Party Transaction [Line Items]
Common stock, shares issued					36,860,691

Related Party Transactions - Schedule of Related Party Balances with Major Related Parties (Details) ¥ in Thousands, $ in Thousands	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Amounts due from related parties, current:
Amounts due from related parties	¥ 169,799	$ 25,009	¥ 211,993
Amounts due from related parties, non-current:
Amounts due from related parties	242,000	35,643	172,200
Amounts due to related parties, current:
Amounts due to related parties	1,828,085	269,248	1,604,258
Amounts due to related parties, non-current:
Amounts due to related parties	993,608	146,343	1,061,883
Baidu
Amounts due from related parties, current:
Amounts due from related parties	48,868	7,197	35,560
Amounts due to related parties, current:
Amounts due to related parties	800,815	117,947	1,014,283
Amounts due to related parties, non-current:
Amounts due to related parties	2,050	302	1,570
Baidu \| Loans
Amounts due to related parties, current:
Amounts due to related parties	50,000	7,364	50,000
Amounts due to related parties, non-current:
Amounts due to related parties	650,000	95,735	650,000
Others
Amounts due from related parties, current:
Amounts due from related parties	120,931	17,812	70,499
Amounts due from related parties, non-current:
Amounts due from related parties	242,000	35,643	172,200
Amounts due to related parties, current:
Amounts due to related parties	811,126	119,467	370,298
Amounts due to related parties, non-current:
Amounts due to related parties	46	7	126
Others \| Loans
Amounts due from related parties, current:
Amounts due from related parties	0	0	105,934
Equity Investee \| Deferred Revenue
Amounts due to related parties, current:
Amounts due to related parties	166,144	24,470	169,677
Amounts due to related parties, non-current:
Amounts due to related parties	¥ 341,512	$ 50,299	¥ 410,187

Related Party Transactions - Schedule of Related Party Balances with Major Related Parties (Parenthetical) (Details) ¥ in Thousands, $ in Thousands	1 Months Ended	9 Months Ended
	Jan. 31, 2018 CNY (¥)	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Related Party Transaction [Line Items]
Amounts due to related parties		¥ 1,828,085	$ 269,248	¥ 1,604,258
Equity Investee
Related Party Transaction [Line Items]
Annual interest rate		5.00%	5.00%	5.00%
Baidu
Related Party Transaction [Line Items]
Amounts due to related parties		¥ 800,815	$ 117,947	¥ 1,014,283
Proceeds from loans from related parties	¥ 650,000
Debt instrument maturity, year and month		2023-01
Baidu \| Loans
Related Party Transaction [Line Items]
Amounts due to related parties		¥ 50,000	$ 7,364	¥ 50,000

Fair Value Measurements - Additional Information (Details) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charge	¥ 143,534	$ 21,140
Maximum \| Short-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term available-for-sale debt investments maturity	1 year	1 year
Produced content predominantly monetized on its own [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charge	¥ 186,933	$ 27,532
Licensed Copyrights [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charge	390,299	57,485
Produced Content [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charge	¥ 209,701	$ 30,886

Fair Value Measurements - Schedule of Financial Instruments Measured or Disclosed at Fair Value on a Recurring Basis and Non-Recurring Fair Value Measurements (Details) ¥ in Thousands, $ in Thousands	9 Months Ended			12 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)	Dec. 31, 2019 CNY (¥)	Sep. 30, 2020 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-term investments, Total losses	¥ (73,199)	$ (10,781)	¥ (27,100)
Equity investments at fair value without readily determinable fair value	2,665,213			¥ 1,812,810	$ 392,544
Equity investments at fair value without readily determinable fair value, Total Gain/ (Losses)	38,100	5,612	¥ 6,076
Fair Value Measurements, Non-recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-term investments, Total losses	(73,199)	(10,781)		(169,374)
Intangible assets, net, Total losses				(99,096)
Equity investments at fair value without readily determinable fair value, Total Gain/ (Losses)	38,100	5,612		7,024
Fixed assets	(95,111)				(14,008)
Prepayments and other assets, Total losses	(48,423)				(7,132)
Produced content monetized on its own	(186,933)				$ (27,532)
Significant Other Observable Inputs (Level 2) \| Short-term Investments \| Fair Value Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	791,593			890,459
Held-to-maturity debt securities	2,812,298			3,688,854
Significant Other Observable Inputs (Level 2) \| Long-term Investments \| Fair Value Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Held-to-maturity debt securities	495,533			490,799
Significant Other Observable Inputs (Level 2) \| Convertible Senior Notes \| Fair Value Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Convertible senior notes	13,280,458			14,142,006
Significant Unobservable Inputs (Level 3) \| Fair Value Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt security				10,259
Significant Unobservable Inputs (Level 3) \| Fair Value Measurements, Non-recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Intangible assets, net				72,302
Equity investments at fair value without readily determinable fair value	101,594			44,198
Prepayments and other assets	110,000
Produced content monetized on its own	29,907
Significant Unobservable Inputs (Level 3) \| Prepayment and Other Assets \| Fair Value Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Option to purchase equity interests of a listed company				¥ 14
Licensed Copyrights [Member] \| Mainland China Film Group [Member] \| Fair Value Measurements, Non-recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mainland China film group Total Gain/(losses)	(390,299)	(57,485)
Licensed Copyrights [Member] \| Mainland China Film Group [Member] \| Significant Unobservable Inputs (Level 3) \| Fair Value Measurements, Non-recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mainland China film group	7,186,037
Produced Content [Member] \| Mainland China Film Group [Member] \| Fair Value Measurements, Non-recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mainland China film group Total Gain/(losses)	(209,701)	$ (30,886)
Produced Content [Member] \| Mainland China Film Group [Member] \| Significant Unobservable Inputs (Level 3) \| Fair Value Measurements, Non-recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mainland China film group	¥ 4,124,114

Fair Value Measurements - Schedule of Valuation Technique And Significant Unobservable Inputs (Level 3) Utilized to Determine the Fair Value of the Mainland China Film Group (Details) - Mainland China Film Group	9 Months Ended
	Sep. 30, 2020
Fair Value Assets Measured On Nonrecurring Basis Valuation Techniques [Line Items]
Percentage Of FairValue Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset	15.00%
Discounted Cash Flow \| Maximum
Fair Value Assets Measured On Nonrecurring Basis Valuation Techniques [Line Items]
Percentage Of FairValue Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset	37.00%
Discounted Cash Flow \| Minimum
Fair Value Assets Measured On Nonrecurring Basis Valuation Techniques [Line Items]
Percentage Of FairValue Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset	32.00%

Accumulated Other Comprehensive Income - Changes in Accumulated Other Comprehensive Income by Component, Net of Tax (Details) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)
Accumulated Other Comprehensive Income Loss [Line Items]
Balances	¥ 9,613,390		¥ 18,155,563
Other comprehensive (loss)/income before reclassification	178,035		620,279
Amounts reclassified from accumulated other comprehensive income	(11,569)		(7,137)
Total other comprehensive income, net of tax	166,466	$ 24,518	613,142
Other comprehensive (income)/loss attributable to noncontrolling interests	1,092		(1,107)
Balances	5,370,111	790,933	12,189,513
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Balances	2,106,219		1,879,171
Other comprehensive (loss)/income before reclassification	166,781		613,424
Total other comprehensive income, net of tax	166,781		613,424
Other comprehensive (income)/loss attributable to noncontrolling interests	1,088		(1,145)
Balances	2,274,088	334,937	2,491,450
Unrealized Gain on Available-for-Sale Debt Securities
Accumulated Other Comprehensive Income Loss [Line Items]
Balances	499		775
Other comprehensive (loss)/income before reclassification	11,254		6,855
Amounts reclassified from accumulated other comprehensive income	(11,569)		(7,137)
Total other comprehensive income, net of tax	(315)		(282)
Other comprehensive (income)/loss attributable to noncontrolling interests	4		38
Balances	188	28	531
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income Loss [Line Items]
Balances	2,106,718		1,879,946
Total other comprehensive income, net of tax	167,558		612,035
Balances	¥ 2,274,276	$ 334,965	¥ 2,491,981

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Accumulated Other Comprehensive Income - Additional Information (Details) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax [Abstract]
Losses on intracompany foreign currency transactions that are of a long-term-investment nature	¥ 471,751	$ 69,481	¥ 0

Accumulated Other Comprehensive Income - Tax Benefit/(Expense) Allocated to Each Component of Other Comprehensive Income (Details) ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020 CNY (¥)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 CNY (¥)
Unrealized gains on available-for-sale debt securities
Other comprehensive income before reclassification	¥ (2,105)	$ (310)	¥ (1,174)
Amounts reclassified from accumulated other comprehensive income	2,145	316	1,246
Net current-period other comprehensive income	¥ 40	$ 6	¥ 72