
	As of March 31,
	2025		2026
	RMB		RMB
	(in millions)
Current:
Accounts receivable and contract assets, net of allowance		31,172		36,020
Inventories		18,887		18,909
VAT receivables, net of allowance		26,336		32,303
Prepaid cost of revenue, sales and marketing and other expenses		20,556		22,556
Advances to/receivables from customers, merchants and others		52,976		90,671
Amounts due from related companies		12,058		21,587
Interest receivables		6,533		4,198
Deferred direct selling costs and cost of revenue (i)		5,365		5,479
Others		28,292		20,114
		202,175		251,837
Non-current:
Operating lease right-of-use assets		39,202		45,524
Deferred tax assets (Note 7)		13,161		13,957
Film costs and prepayment for licensed copyrights and others		12,889		10,964
Prepayment for acquisition of property and equipment		6,799		3,787
Others		11,380		20,764
		83,431		94,996

(i)

The Company is obligated to pay certain costs upon the receipt of membership fees from merchants or other customers, which primarily consist of sales commissions, and certain costs associated with cloud services. The membership fees and cloud services revenue are initially deferred and recognized as revenue in the consolidated income statements in the period in which the services are rendered. As such, the related costs are also initially deferred and recognized in the consolidated income statements in the same period as the related service fees and revenue are recognized.