Meta Platforms (META) 10-Q 29 Jul 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Jul. 23, 2021
Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-35551
Entity Registrant Name	Facebook, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1665019
Entity Address, Address Line One	1601 Willow Road
Entity Address, City or Town	Menlo Park
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94025
City Area Code	650
Local Phone Number	543-4800
Title of 12(b) Security	Class A Common Stock, par value $0.000006
Trading Symbol	FB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001326801
Current Fiscal Year End Date	--12-31
Class A Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		2,383,812,263
Class B Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		435,632,238

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 16,186	$ 17,576
Marketable securities	47,894	44,378
Accounts receivable, net of allowances of $108 million and $114 million as of June 30, 2021 and December 31, 2020, respectively	11,698	11,335
Prepaid expenses and other current assets	4,919	2,381
Total current assets	80,697	75,670
Equity investments	6,393	6,234
Property and equipment, net	50,909	45,633
Operating lease right-of-use assets, net	10,525	9,348
Intangible assets, net	514	623
Goodwill	19,219	19,050
Other assets	2,352	2,758
Total assets	170,609	159,316
Current liabilities:
Accounts payable	973	1,331
Partners payable	949	1,093
Operating lease liabilities, current	1,051	1,023
Accrued expenses and other current liabilities	11,510	11,152
Deferred revenue and deposits	391	382
Total current liabilities	14,874	14,981
Operating lease liabilities, non-current	10,956	9,631
Other liabilities	6,552	6,414
Total liabilities	32,382	31,026
Commitments and contingencies
Stockholders' equity:
Common stock, $0.000006 par value; 5,000 million Class A shares authorized, 2,389 million and 2,406 million shares issued and outstanding, as of June 30, 2021 and December 31, 2020, respectively; 4,141 million Class B shares authorized, 437 million and 443 million shares issued and outstanding, as of June 30, 2021 and December 31, 2020, respectively	0	0
Additional paid-in capital	52,845	50,018
Accumulated other comprehensive income	285	927
Retained earnings	85,097	77,345
Total stockholders' equity	138,227	128,290
Total liabilities and stockholders' equity	$ 170,609	$ 159,316

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Allowance for credit loss	$ 108	$ 114
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.000006	$ 0.000006
Class A Common Stock
Stockholders' equity:
Common stock, shares authorized (in shares)	5,000,000,000	5,000,000,000
Common stock, shares issued (in shares)	2,389,000,000	2,406,000,000
Common stock, shares outstanding (in shares)	2,389,000,000	2,406,000,000
Class B Common Stock
Stockholders' equity:
Common stock, shares authorized (in shares)	4,141,000,000	4,141,000,000
Common stock, shares issued (in shares)	437,000,000	443,000,000
Common stock, shares outstanding (in shares)	437,000,000	443,000,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue	$ 29,077	$ 18,687	$ 55,248	$ 36,423
Costs and expenses:
Cost of revenue	5,399	3,829	10,530	7,288
Research and development	6,096	4,462	11,293	8,477
Marketing and sales	3,259	2,840	6,102	5,627
General and administrative	1,956	1,593	3,578	3,175
Total costs and expenses	16,710	12,724	31,503	24,567
Income from operations	12,367	5,963	23,745	11,856
Interest and other income, net	146	168	271	136
Income before provision for income taxes	12,513	6,131	24,016	11,992
Provision for income taxes	2,119	953	4,124	1,911
Net income	$ 10,394	$ 5,178	$ 19,892	$ 10,081
Earnings per share attributable to Class A and Class B common stockholders:
Basic (in dollars per share)	$ 3.67	$ 1.82	$ 7	$ 3.54
Diluted (in dollars per share)	$ 3.61	$ 1.80	$ 6.90	$ 3.51
Weighted-average shares used to compute earnings per share attributable to Class A and Class B common stockholders:
Basic (in shares)	2,834	2,850	2,841	2,851
Diluted (in shares)	2,877	2,879	2,881	2,876
Share-based compensation expense included in costs and expenses:
Share-based compensation expense	$ 2,548	$ 1,695	$ 4,379	$ 3,030
Cost of revenue
Share-based compensation expense included in costs and expenses:
Share-based compensation expense	163	117	281	211
Research and development
Share-based compensation expense included in costs and expenses:
Share-based compensation expense	1,967	1,261	3,376	2,260
Marketing and sales
Share-based compensation expense included in costs and expenses:
Share-based compensation expense	239	187	413	336
General and administrative
Share-based compensation expense included in costs and expenses:
Share-based compensation expense	$ 179	$ 130	$ 309	$ 223

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 10,394	$ 5,178	$ 19,892	$ 10,081
Other comprehensive income (loss):
Change in foreign currency translation adjustment, net of tax	169	247	(432)	(129)
Change in unrealized gain (loss) on available-for-sale investments and other, net of tax	(38)	155	(210)	476
Comprehensive income	$ 10,525	$ 5,580	$ 19,250	$ 10,428

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Class A and Class B Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Balances at beginning of period (in shares) at Dec. 31, 2019		2,852
Balances at beginning of period at Dec. 31, 2019	$ 101,054	$ 0	$ 45,851	$ (489)	$ 55,692
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		18
Shares withheld related to net share settlement (in shares)		(7)
Shares withheld related to net share settlement	(1,444)		(1,076)		(368)
Share-based compensation	3,030		3,030
Share repurchases (in shares)		(13)
Share repurchases	(2,621)				(2,621)
Other comprehensive income (loss)	347			347
Net income	10,081				10,081
Balances at end of period (in shares) at Jun. 30, 2020		2,850
Balances at end of period at Jun. 30, 2020	110,447	$ 0	47,805	(142)	62,784
Balances at beginning of period (in shares) at Mar. 31, 2020		2,851
Balances at beginning of period at Mar. 31, 2020	105,304	$ 0	46,688	(544)	59,160
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		10
Shares withheld related to net share settlement (in shares)		(4)
Shares withheld related to net share settlement	(753)		(578)		(175)
Share-based compensation	1,695		1,695
Share repurchases (in shares)		(7)
Share repurchases	(1,379)				(1,379)
Other comprehensive income (loss)	402			402
Net income	5,178				5,178
Balances at end of period (in shares) at Jun. 30, 2020		2,850
Balances at end of period at Jun. 30, 2020	110,447	$ 0	47,805	(142)	62,784
Balances at beginning of period (in shares) at Dec. 31, 2020		2,849
Balances at beginning of period at Dec. 31, 2020	128,290	$ 0	50,018	927	77,345
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		22
Shares withheld related to net share settlement (in shares)		(8)
Shares withheld related to net share settlement	(2,432)		(1,552)		(880)
Share-based compensation	$ 4,379		4,379
Share repurchases (in shares)	(37)	(37)
Share repurchases	$ (11,260)				(11,260)
Other comprehensive income (loss)	(642)			(642)
Net income	19,892				19,892
Balances at end of period (in shares) at Jun. 30, 2021		2,826
Balances at end of period at Jun. 30, 2021	138,227	$ 0	52,845	285	85,097
Balances at beginning of period (in shares) at Mar. 31, 2021		2,841
Balances at beginning of period at Mar. 31, 2021	133,657	$ 0	51,160	154	82,343
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		11
Shares withheld related to net share settlement (in shares)		(4)
Shares withheld related to net share settlement	(1,354)		(863)		(491)
Share-based compensation	2,548		2,548
Share repurchases (in shares)		(22)
Share repurchases	(7,149)				(7,149)
Other comprehensive income (loss)	131			131
Net income	10,394				10,394
Balances at end of period (in shares) at Jun. 30, 2021		2,826
Balances at end of period at Jun. 30, 2021	$ 138,227	$ 0	$ 52,845	$ 285	$ 85,097

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net income	$ 19,892	$ 10,081
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,958	3,301
Share-based compensation	4,379	3,030
Deferred income taxes	647	690
Other	(88)	49
Changes in assets and liabilities:
Accounts receivable	(517)	1,924
Prepaid expenses and other current assets	(2,313)	(353)
Other assets	(195)	(15)
Accounts payable	(134)	(100)
Partners payable	(133)	(158)
Accrued expenses and other current liabilities	(200)	(3,016)
Deferred revenue and deposits	9	(1)
Other liabilities	184	(554)
Net cash provided by operating activities	25,489	14,878
Cash flows from investing activities
Purchases of property and equipment	(8,884)	(6,813)
Purchases of marketable securities	(16,528)	(14,063)
Sales of marketable securities	6,337	5,381
Maturities of marketable securities	6,327	7,868
Acquisitions of businesses, net of cash acquired, and purchases of intangible assets	(259)	(372)
Other investing activities	(62)	(288)
Net cash used in investing activities	(13,069)	(8,287)
Cash flows from financing activities
Taxes paid related to net share settlement of equity awards	(2,432)	(1,444)
Repurchases of Class A common stock	(11,018)	(2,618)
Principal payments on finance leases	(274)	(209)
Net change in overdraft in cash pooling entities	3	(17)
Other financing activities	(13)	114
Net cash used in financing activities	(13,734)	(4,174)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(129)	(127)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(1,443)	2,290
Cash, cash equivalents, and restricted cash at beginning of the period	17,954	19,279
Cash, cash equivalents, and restricted cash at end of the period	16,511	21,569
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Cash and cash equivalents	16,186	21,045
Total cash, cash equivalents, and restricted cash	16,511	21,569
Supplemental cash flow data
Cash paid for income taxes	6,294	1,250
Non-cash investing and financing activities:
Property and equipment in accounts payable and accrued expenses and other current liabilities	2,249	1,592
Acquisition of businesses and other investments in accrued expenses and other current liabilities and other liabilities	73	316
Other current assets through financing arrangements in accrued expenses and other current liabilities	381	0
Repurchases of Class A common stock in accrued expenses and other current liabilities	310	46
Prepaid Expenses and Other Current Assets
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Restricted cash	201	308
Other Assets
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Restricted cash	$ 124	$ 216

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2020. The condensed consolidated balance sheet as of December 31, 2020 included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP. The condensed consolidated financial statements include the accounts of Facebook, Inc., its subsidiaries where we have controlling financial interests, and any variable interest entities for which we are deemed to be the primary beneficiary. All intercompany balances and transactions have been eliminated. The accompanying condensed consolidated financial statements reflect all normal recurring adjustments that are necessary to present fairly the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year ending December 31, 2021. Use of Estimates Preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and judgments that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments we make about the carrying values of our assets and liabilities, which are not readily apparent from other sources. We base our estimates and judgments on historical information and on various other assumptions that we believe are reasonable under the circumstances. GAAP requires us to make estimates and judgments in several areas, including, but not limited to, those related to revenue recognition, valuation of equity investments, income taxes, loss contingencies, valuation of long-lived assets including goodwill and intangible assets and their associated estimated useful lives, collectibility of accounts receivable, credit losses of available-for-sale debt securities, fair value of financial instruments, and leases. These estimates are based on management's knowledge about current events and expectations about actions we may undertake in the future. Actual results could differ materially from those estimates. Significant Accounting Policies There have been no material changes to our significant accounting policies from our Annual Report on Form 10-K for the fiscal year ended December 31, 2020. Recently Adopted Accounting Pronouncements On January 1, 2021, we adopted Accounting Standards Update No. 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) (ASU 2020-01), which clarifies the interaction of the accounting for equity securities under Topic 321, the accounting for equity method investments in Topic 323, and the accounting for certain forward contracts and purchased options in Topic 815. The adoption of this new standard did not have a material impact on our condensed consolidated financial statements. Accounting Pronouncements Not Yet Adopted In August 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity (ASU 2020-06), which simplifies the accounting for convertible instruments by reducing the number of accounting models available for

Revenue

Revenue	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue disaggregated by revenue source consists of the following (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Advertising $ 28,580 $ 18,321 $ 54,018 $ 35,760 Other revenue 497 366 1,230 663 Total revenue $ 29,077 $ 18,687 $ 55,248 $ 36,423 Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 United States and Canada (1) $ 12,612 $ 8,292 $ 24,048 $ 16,304 Europe (2) 7,220 4,249 13,604 8,398 Asia-Pacific 6,677 4,611 12,778 8,582 Rest of World (2) 2,568 1,535 4,818 3,139 Total revenue $ 29,077 $ 18,687 $ 55,248 $ 36,423 ____________________________________ (1) United States revenue was $11.82 billion and $7.83 billion for the three months ended June 30, 2021 and 2020, respectively, and $22.57 billion and $15.38 billion for the six months ended June 30, 2021 and 2020, respectively. (2) Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East. Our total deferred revenue was $386 million and $371 million as of June 30, 2021 and December 31, 2020, respectively. As of June 30, 2021, we expect $348 million of our deferred revenue to be realized in less than a year.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share We compute earnings per share (EPS) of Class A and Class B common stock using the two-class method. Basic EPS is computed by dividing net income by the weighted-average number of shares of our Class A and Class B common stock outstanding. For the calculation of diluted EPS, net income for basic EPS is adjusted by the effect of dilutive securities under our equity compensation plans. In addition, the computation of the diluted EPS of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted EPS of Class B common stock does not assume the conversion of those shares to Class A common stock. Diluted EPS attributable to common stockholders is computed by dividing the resulting net income by the weighted-average number of fully diluted common shares outstanding. Restricted stock units (RSUs) with anti-dilutive effect were excluded from the EPS calculation and they were not material for the three and six months ended June 30, 2021 and 2020. Basic and diluted EPS are the same for each class of common stock because they are entitled to the same liquidation and dividend rights. The numerators and denominators of the basic and diluted EPS computations for our common stock are calculated as follows (in millions, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Class A Class B Class A Class B Class A Class B Class A Class B Basic EPS: Numerator Net income $ 8,785 $ 1,609 $ 4,371 $ 807 $ 16,810 $ 3,082 $ 8,509 $ 1,572 Denominator Weighted-average shares outstanding 2,395 439 2,406 444 2,401 440 2,407 444 Basic EPS $ 3.67 $ 3.67 $ 1.82 $ 1.82 $ 7.00 $ 7.00 $ 3.54 $ 3.54 Diluted EPS: Numerator Net income $ 8,785 $ 1,609 $ 4,371 $ 807 $ 16,810 $ 3,082 $ 8,509 $ 1,572 Reallocation of net income as a result of conversion of Class B to Class A common stock 1,609 — 807 — 3,082 — 1,572 — Reallocation of net income to Class B common stock — (24) — (8) — (44) — (13) Net income for diluted EPS $ 10,394 $ 1,585 $ 5,178 $ 799 $ 19,892 $ 3,038 $ 10,081 $ 1,559 Denominator Number of shares used for basic EPS computation 2,395 439 2,406 444 2,401 440 2,407 444 Conversion of Class B to Class A common stock 439 — 444 — 440 — 444 — Weighted-average effect of dilutive RSUs 43 — 29 — 40 — 25 — Number of shares used for diluted EPS computation 2,877 439 2,879 444 2,881 440 2,876 444 Diluted EPS $ 3.61 $ 3.61 $ 1.80 $ 1.80 $ 6.90 $ 6.90 $ 3.51 $ 3.51

Cash and Cash Equivalents, and

Cash and Cash Equivalents, and Marketable Securities	6 Months Ended
	Jun. 30, 2021
Cash and Cash Equivalents and Marketable Securities [Abstract]
Cash and Cash Equivalents, and Marketable Securities	Cash and Cash Equivalents, and Marketable Securities The following table sets forth the cash and cash equivalents and marketable securities (in millions): June 30, 2021 December 31, 2020 Cash and cash equivalents: Cash $ 6,132 $ 6,488 Money market funds 9,346 9,755 U.S. government securities 298 1,016 Certificate of deposits and time deposits 355 305 Corporate debt securities 55 12 Total cash and cash equivalents 16,186 17,576 Marketable securities: U.S. government securities 23,184 20,921 U.S. government agency securities 10,705 11,698 Corporate debt securities 14,005 11,759 Total marketable securities 47,894 44,378 Total cash and cash equivalents and marketable securities $ 64,080 $ 61,954 The gross unrealized gains on our marketable securities were $410 million and $641 million as of June 30, 2021 and December 31, 2020, respectively. The gross unrealized losses on our marketable securities were not material as of June 30, 2021 and December 31, 2020. The allowance for credit losses was not material as of June 30, 2021 and December 31, 2020. The following table classifies our marketable securities by contractual maturities (in millions): June 30, 2021 Due within one year $ 11,819 Due after one year to five years 36,075 Total $ 47,894

Equity Investments

Equity Investments	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Equity Investments	Equity Investments Our equity investments are investments in equity securities of privately-held companies without readily determinable market values. The changes in the carrying value of equity investments for the six months ended June 30, 2021 are as follows (in millions): Balance as of December 31, 2020 $ 6,234 Additions 20 Impairment (10) Adjustments 149 Balance as of June 30, 2021 $ 6,393

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement The following table summarizes our assets measured at fair value and the classification by level of input within the fair value hierarchy (in millions): Fair Value Measurement at Reporting Date Using Description June 30, 2021 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Cash equivalents: Money market funds $ 9,346 $ 9,346 $ — U.S. government securities 298 298 — Certificate of deposits and time deposits 355 — 355 Corporate debt securities 55 — 55 Marketable securities: U.S. government securities 23,184 23,184 — U.S. government agency securities 10,705 10,705 — Corporate debt securities 14,005 — 14,005 Total cash equivalents and marketable securities $ 57,948 $ 43,533 $ 14,415 Fair Value Measurement at Reporting Date Using Description December 31, 2020 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Cash equivalents: Money market funds $ 9,755 $ 9,755 $ — U.S. government securities 1,016 1,016 — Certificate of deposits and time deposits 305 — 305 Corporate debt securities 12 — 12 Marketable securities: U.S. government securities 20,921 20,921 — U.S. government agency securities 11,698 11,698 — Corporate debt securities 11,759 — 11,759 Total cash equivalents and marketable securities $ 55,466 $ 43,390 $ 12,076 We classify our cash equivalents and marketable securities within Level 1 or Level 2 because we use quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair value. We have other assets and liabilities classified within Level 3 because factors used to develop the estimated fair value are unobservable inputs that are not supported by market activity. The aggregate absolute value of these Level 3 assets and liabilities was not material as of June 30, 2021 and December 31, 2020.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net consists of the following (in millions): June 30, 2021 December 31, 2020 Land $ 1,428 $ 1,326 Buildings 19,873 17,360 Leasehold improvements 5,294 4,321 Network equipment 24,085 22,003 Computer software, office equipment and other 2,814 2,458 Finance lease right-of-use assets 2,557 2,295 Construction in progress 12,593 11,288 Total 68,644 61,051 Less: Accumulated depreciation (17,735) (15,418) Property and equipment, net $ 50,909 $ 45,633 Depreciation expense on property and equipment was $1.86 billion and $1.58 billion for the three months ended June 30, 2021 and 2020, respectively, and $3.72 billion and $3.07 billion for the six months ended June 30, 2021 and 2020, respectively. Construction in progress includes costs mostly related to construction of data centers, network equipment infrastructure to support our data centers around the world, and office buildings.

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	Leases We have entered into various non-cancelable operating lease agreements for certain of our offices, data centers, land, colocations, and equipment. We have also entered into various non-cancelable finance lease agreements for certain network equipment. Our leases have original lease periods expiring between the remainder of 2021 and 2093. Many leases include one or more options to renew. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured. Our lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. The components of lease costs are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Finance lease cost Amortization of right-of-use assets $ 83 $ 60 $ 164 $ 120 Interest 4 4 7 7 Operating lease cost 371 344 733 684 Variable lease cost and other, net 59 57 126 117 Total lease cost $ 517 $ 465 $ 1,030 $ 928 Supplemental balance sheet information related to leases is as follows: June 30, 2021 December 31, 2020 Weighted-average remaining lease term Operating leases 12.5 years 12.2 years Finance leases 14.7 years 14.9 years Weighted-average discount rate Operating leases 3.0 % 3.1 % Finance leases 2.8 % 2.9 % The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2021 (in millions): Operating Leases Finance Leases The remainder of 2021 $ 613 $ 51 2022 1,448 55 2023 1,436 49 2024 1,329 43 2025 1,164 43 Thereafter 8,912 434 Total undiscounted cash flows 14,902 675 Less: Imputed interest (2,895) (119) Present value of lease liabilities $ 12,007 $ 556 Lease liabilities, current $ 1,051 $ 63 Lease liabilities, non-current 10,956 493 Present value of lease liabilities $ 12,007 $ 556 The table above does not include lease payments that were not fixed at commencement or lease modification. As of June 30, 2021, we have additional operating and finance leases, that have not yet commenced, with lease obligations of approximately $5.93 billion and $887 million, respectively, for offices, network equipment and data centers. These operating and finance leases will commence between the remainder of 2021 and 2025 with lease terms of greater than one year to 30 years. Supplemental cash flow information related to leases is as follows (in millions): Six Months Ended June 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 682 $ 572 Operating cash flows for finance leases $ 7 $ 7 Financing cash flows for finance leases $ 274 $ 209 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 1,941 $ 689 Finance leases $ 70 $ 33
Leases	Leases We have entered into various non-cancelable operating lease agreements for certain of our offices, data centers, land, colocations, and equipment. We have also entered into various non-cancelable finance lease agreements for certain network equipment. Our leases have original lease periods expiring between the remainder of 2021 and 2093. Many leases include one or more options to renew. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured. Our lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. The components of lease costs are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Finance lease cost Amortization of right-of-use assets $ 83 $ 60 $ 164 $ 120 Interest 4 4 7 7 Operating lease cost 371 344 733 684 Variable lease cost and other, net 59 57 126 117 Total lease cost $ 517 $ 465 $ 1,030 $ 928 Supplemental balance sheet information related to leases is as follows: June 30, 2021 December 31, 2020 Weighted-average remaining lease term Operating leases 12.5 years 12.2 years Finance leases 14.7 years 14.9 years Weighted-average discount rate Operating leases 3.0 % 3.1 % Finance leases 2.8 % 2.9 % The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2021 (in millions): Operating Leases Finance Leases The remainder of 2021 $ 613 $ 51 2022 1,448 55 2023 1,436 49 2024 1,329 43 2025 1,164 43 Thereafter 8,912 434 Total undiscounted cash flows 14,902 675 Less: Imputed interest (2,895) (119) Present value of lease liabilities $ 12,007 $ 556 Lease liabilities, current $ 1,051 $ 63 Lease liabilities, non-current 10,956 493 Present value of lease liabilities $ 12,007 $ 556 The table above does not include lease payments that were not fixed at commencement or lease modification. As of June 30, 2021, we have additional operating and finance leases, that have not yet commenced, with lease obligations of approximately $5.93 billion and $887 million, respectively, for offices, network equipment and data centers. These operating and finance leases will commence between the remainder of 2021 and 2025 with lease terms of greater than one year to 30 years. Supplemental cash flow information related to leases is as follows (in millions): Six Months Ended June 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 682 $ 572 Operating cash flows for finance leases $ 7 $ 7 Financing cash flows for finance leases $ 274 $ 209 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 1,941 $ 689 Finance leases $ 70 $ 33

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets During the six months ended June 30, 2021, we purchased certain intangible assets and completed several business acquisitions that were not material to our condensed consolidated financial statements, either individually or in the aggregate. Accordingly, pro forma historical results of operations related to these business acquisitions during the six months ended June 30, 2021 have not been presented. We have included the financial results of these business acquisitions in our condensed consolidated financial statements from their respective dates of acquisition. The changes in the carrying amount of goodwill for the six months ended June 30, 2021 are as follows (in millions): Balance as of December 31, 2020 $ 19,050 Goodwill acquired 170 Effect of currency translation adjustment (1) Balance as of June 30, 2021 $ 19,219 The following table sets forth the major categories of the intangible assets and the weighted‑average remaining useful lives for those assets that are not already fully amortized (in millions): June 30, 2021 December 31, 2020 Weighted-Average Remaining Useful Lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired users 0.3 $ 2,057 $ (1,984) $ 73 $ 2,057 $ (1,840) $ 217 Acquired technology 2.6 1,401 (1,144) 257 1,297 (1,088) 209 Acquired patents 3.7 827 (699) 128 805 (677) 128 Trade names 2.2 641 (631) 10 636 (622) 14 Other 2.7 223 (177) 46 223 (168) 55 Total intangible assets $ 5,149 $ (4,635) $ 514 $ 5,018 $ (4,395) $ 623 Amortization expense of intangible assets was $122 million and $118 million for the three months ended June 30, 2021 and 2020, respectively, and $240 million and $229 million for the six months ended June 30, 2021 and 2020, respectively. As of June 30, 2021, expected amortization expense for the unamortized acquired intangible assets for the next five years and thereafter is as follows (in millions): The remainder of 2021 $ 173 2022 163 2023 95 2024 49 2025 18 Thereafter 16 Total $ 514

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Guarantee In 2018, we established a multi-currency notional cash pool for certain of our entities with a third-party bank provider. Actual cash balances are not physically converted and are not commingled between participating legal entities. As part of the notional cash pool agreement, the bank extends overdraft credit to our participating entities as needed, provided that the overall notionally pooled balance of all accounts in the pool at the end of each day is at least zero. In the unlikely event of a default by our collective entities participating in the pool, any overdraft balances incurred would be guaranteed by Facebook, Inc. Other Contractual Commitments We also have $12.85 billion of non-cancelable contractual commitments as of June 30, 2021, which are primarily related to our investments in network infrastructure, consumer hardware and content costs. These commitments are primarily due within five years. Legal and Related Matters Beginning on March 20, 2018, multiple putative class actions and derivative actions were filed in state and federal courts in the United States and elsewhere against us and certain of our directors and officers alleging violations of securities laws, breach of fiduciary duties, and other causes of action in connection with our platform and user data practices as well as the misuse of certain data by a developer that shared such data with third parties in violation of our terms and policies, and seeking unspecified damages and injunctive relief. Beginning on July 27, 2018, two putative class actions were filed in federal court in the United States against us and certain of our directors and officers alleging violations of securities laws in connection with the disclosure of our earnings results for the second quarter of 2018 and seeking unspecified damages. These two actions subsequently were transferred and consolidated in the U.S. District Court for the Northern District of California with the putative securities class action described above relating to our platform and user data practices. On September 25, 2019, the district court granted our motion to dismiss the consolidated putative securities class action, with leave to amend. On November 15, 2019, a second amended complaint was filed in the consolidated putative securities class action. On August 7, 2020, the district court granted our motion to dismiss the second amended complaint, with leave to amend. On October 16, 2020, a third amended complaint was filed in the consolidated putative securities class action. We believe these lawsuits are without merit, and we are vigorously defending them. In addition, our platform and user data practices, as well as the events surrounding the misuse of certain data by a developer, became the subject of U.S. Federal Trade Commission (FTC), state attorneys general, and other government inquiries in the United States, Europe, and other jurisdictions. We entered into a settlement and modified consent order to resolve the FTC inquiry, which took effect in April 2020. Among other matters, our settlement with the FTC required us to pay a penalty of $5.0 billion, which was paid in April 2020 upon the effectiveness of the modified consent order. The state attorneys general inquiry and certain government inquiries in other jurisdictions remain ongoing. On July 16, 2021, a stockholder derivative action was filed in Delaware Chancery Court against certain of our directors and officers asserting breach of fiduciary duty and related claims relating to our historical platform and user data practices, as well as our settlement with the FTC. On July 20, 2021, other stockholders filed an amended derivative complaint in a related Delaware Chancery Court action, which asserts breach of fiduciary duty and related claims against certain of our current and former directors and officers in connection with our historical platform and user data practices. On April 1, 2015, a putative class action was filed against us in the U.S. District Court for the Northern District of California by Facebook users alleging that the "tag suggestions" facial recognition feature violates the Illinois Biometric Information Privacy Act, and seeking statutory damages and injunctive relief. On April 16, 2018, the district court certified a class of Illinois residents, and on May 14, 2018, the district court denied both parties' motions for summary judgment. On May 29, 2018, the U.S. Court of Appeals for the Ninth Circuit granted our petition for review of the class certification order and stayed the proceeding. On August 8, 2019, the Ninth Circuit affirmed the class certification order. On December 2, 2019, we filed a petition with the U.S. Supreme Court seeking review of the decision of the Ninth Circuit, which was denied. On January 15, 2020, the parties agreed to a settlement in principle to resolve the lawsuit, which provided for a payment of $550 million by us and was subject to court approval. On or about May 8, 2020, the parties executed a formal settlement agreement, and plaintiffs filed a motion for preliminary approval of the settlement by the district court. On June 4, 2020, the district court denied the plaintiffs' motion without prejudice. On July 22, 2020, the parties executed an amended settlement agreement, which, among other terms, provides for a payment of $650 million by us. On February 26, 2021, the court granted final approval of the settlement, and the payment was made in March 2021. On March 27 and March 29, 2021, objectors filed notices of appeal of the order granting final approval of the settlement. On June 15, 2021, one of the objectors filed a motion to dismiss the appeal voluntarily, and the court entered such dismissal on June 22, 2021. Beginning on September 28, 2018, multiple putative class actions were filed in state and federal courts in the United States and elsewhere against us alleging violations of consumer protection laws and other causes of action in connection with a third-party cyber-attack that exploited a vulnerability in Facebook's code to steal user access tokens and access certain profile information from user accounts on Facebook, and seeking unspecified damages and injunctive relief. The actions filed in the United States were consolidated in the U.S. District Court for the Northern District of California. On November 26, 2019, the district court certified a class for injunctive relief purposes, but denied certification of a class for purposes of pursuing damages. On January 16, 2020, the parties agreed to a settlement in principle to resolve the lawsuit. On November 15, 2020, the court granted preliminary approval of the settlement. On May 6, 2021, the court granted final approval of the settlement. We believe the remaining lawsuits are without merit, and we are vigorously defending them. In addition, the events surrounding this cyber-attack became the subject of Irish Data Protection Commission (IDPC) and other government inquiries. From time to time we also notify the IDPC, our designated European privacy regulator under the General Data Protection Regulation, of certain other personal data breaches and privacy issues, and are subject to inquiries and investigations regarding various aspects of our regulatory compliance. Although we are vigorously defending our regulatory compliance, we believe there is a reasonable possibility that the ultimate potential loss related to the inquiries and investigations by the IDPC could be material in the aggregate. In addition, from time to time, we are subject to litigation and other proceedings involving law enforcement and other regulatory agencies, including in particular in Brazil and Europe, in order to ascertain the precise scope of our legal obligations to comply with the requests of those agencies, including our obligation to disclose user information in particular circumstances. A number of such instances have resulted in the assessment of fines and penalties against us. We believe we have multiple legal grounds to satisfy these requests or prevail against associated fines and penalties, and we intend to vigorously defend such fines and penalties. With respect to the cases, actions, and inquiries described above, we evaluate the associated developments on a regular basis and accrue a liability when we believe a loss is probable and the amount can be reasonably estimated. In addition, we believe there is a reasonable possibility that we may incur a loss in some of these matters. With respect to the matters described above that do not include an estimate of the amount of loss or range of possible loss, such losses or range of possible losses either cannot be estimated or are not individually material, but we believe there is a reasonable possibility that they may be material in the aggregate. We are also party to various other legal proceedings, claims, and regulatory, tax or government inquiries and investigations that arise in the ordinary course of business. For example, from time to time we are subject to various litigation and government inquiries and investigations, formal or informal, by competition authorities in the United States, Europe, and other jurisdictions. Such investigations, inquiries, and lawsuits concern, among other things, our business practices in the areas of social networking or social media services, digital advertising, and/or mobile or online applications, as well as past acquisitions. For example, in June 2019 we were informed by the FTC that it had opened an antitrust investigation of our company. On December 9, 2020, the FTC filed a complaint against us in the U.S. District Court for the District of Columbia alleging that we engaged in anticompetitive conduct and unfair methods of competition in violation of Section 5 of the Federal Trade Commission Act and Section 2 of the Sherman Act, including by acquiring Instagram in 2012 and WhatsApp in 2014 and by maintaining conditions on access to our platform. In addition, beginning in the third quarter of 2019, we became the subject of antitrust investigations by the U.S. Department of Justice and state attorneys general. On December 9, 2020, the attorneys general from 46 states, the territory of Guam, and the District of Columbia filed a complaint against us in the U.S. District Court for the District of Columbia alleging that we engaged in anticompetitive conduct in violation of Section 2 of the Sherman Act, including by acquiring Instagram in 2012 and WhatsApp in 2014 and by maintaining conditions on access to our platform. The complaint also alleged that we violated Section 7 of the Clayton Act by acquiring Instagram and WhatsApp. The complaints of the FTC and attorneys general both sought a permanent injunction against our company's alleged violations of the antitrust laws, and other equitable relief, including divestiture or reconstruction of Instagram and WhatsApp. On June 28, 2021, the court granted our motions to dismiss the complaints filed by the FTC and attorneys general, dismissing the FTC's complaint with leave to amend and dismissing the attorneys general's case without prejudice. The court set a deadline of August 19, 2021 for the FTC to file any amended complaint. On July 28, 2021, the attorneys general filed a notice of appeal of the order dismissing their case. Multiple putative class actions have also been filed in state and federal courts in the United States against us alleging violations of antitrust laws and other causes of action in connection with these acquisitions and other alleged anticompetitive conduct, and seeking unspecified damages and injunctive relief. We believe these lawsuits are without merit, and we are vigorously defending them. Additionally, we are required to comply with various legal and regulatory obligations around the world. The requirements for complying with these obligations may be uncertain and subject to interpretation and enforcement by regulatory and other authorities, and any failure to comply with such obligations could eventually lead to asserted legal or regulatory action. With respect to these other legal proceedings, claims, regulatory, tax, or government inquiries and investigations, and other matters, asserted and unasserted, we evaluate the associated developments on a regular basis and accrue a liability when we believe a loss is probable and the amount can be reasonably estimated. In addition, we believe there is a reasonable possibility that we may incur a loss in some of these other matters. We believe that the amount of losses or any estimable range of possible losses with respect to these other matters will not, either individually or in the aggregate, have a material adverse effect on our business and condensed consolidated financial statements. The ultimate outcome of the legal and related matters described in this section, such as whether the likelihood of loss is remote, reasonably possible, or probable, or if and when the reasonably possible range of loss is estimable, is inherently uncertain. Therefore, if one or more of these matters were resolved against us for amounts in excess of management's estimates of loss, our results of operations and financial condition, including in a particular reporting period in which any such outcome becomes probable and estimable, could be materially adversely affected. For information regarding income tax contingencies, see Note 12 — Income Taxes. Indemnifications In the normal course of business, to facilitate transactions of services and products, we have agreed to indemnify certain parties with respect to certain matters. We have agreed to hold certain parties harmless against losses arising from a breach of representations or covenants, or out of intellectual property infringement or other claims made by third parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, we have entered into indemnification agreements with our officers, directors, and certain employees, and our certificate of incorporation and bylaws contain similar indemnification obligations. It is not possible to determine the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by us under these agreements have not had a material impact on our consolidated financial statements. In our opinion, as of June 30, 2021, there was not at least a reasonable possibility we had incurred a material loss with respect to indemnification of such parties. We have not recorded any liability for costs related to indemnification through June 30, 2021.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Share Repurchase Program Our board of directors has authorized a share repurchase program of our Class A common stock, which commenced in January 2017 and does not have an expiration date. As of December 31, 2020, $8.60 billion remained available and authorized for repurchases under this program. In January 2021, an additional $25.0 billion of repurchases was authorized under this program. During the six months ended June 30, 2021, we repurchased and subsequently retired 37 million shares of our Class A common stock for an aggregate amount of $11.26 billion. As of June 30, 2021, $22.34 billion remained available and authorized for repurchases. The timing and actual number of shares repurchased under the repurchase program depend on a variety of factors, including price, general business and market conditions, and other investment opportunities, and shares may be repurchased through open market purchases or privately negotiated transactions, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. Share-based Compensation Plans We maintain one active share-based employee compensation plan, the 2012 Equity Incentive Plan, which was amended in each of June 2016 and February 2018 (Amended 2012 Plan). Our Amended 2012 Plan provides for the issuance of incentive and nonstatutory stock options, restricted stock awards, stock appreciation rights, RSUs, performance shares, and stock bonuses to qualified employees, directors and consultants. Shares that are withheld in connection with the net settlement of RSUs or forfeited under our stock plan are added to the reserves of the Amended 2012 Plan. We account for forfeitures as they occur. Share-based compensation expense consists of the Company's RSUs expense. RSUs granted to employees are measured based on the grant-date fair value. In general, our RSUs vest over a service period of four years. Share-based compensation expense is generally recognized based on the straight-line basis over the requisite service period. Effective January 1, 2021, there were 145 million shares of our Class A common stock reserved for future issuance under our Amended 2012 Plan. Pursuant to the automatic increase provision under our Amended 2012 Plan, the number of shares reserved for issuance increases automatically on January 1 of each of the calendar years during the term of the Amended 2012 Plan, which will continue through April 2026, by a number of shares of Class A common stock equal to the lesser of (i) 2.5% of the total issued and outstanding shares of our Class A common stock as of the immediately preceding December 31st or (ii) a number of shares determined by our board of directors. The following table summarizes the activities for our unvested RSUs for the six months ended June 30, 2021: Unvested RSUs Number of Shares Weighted-Average Grant Date Fair Value (in thousands) Unvested at December 31, 2020 96,733 $ 181.88 Granted 46,177 $ 294.54 Vested (22,009) $ 188.28 Forfeited (6,206) $ 200.23 Unvested at June 30, 2021 114,695 $ 225.01 The fair value as of the respective vesting dates of RSUs that vested during the three months ended June 30, 2021 and 2020 was $3.65 billion and $2.04 billion , respectively, and $6.48 billion and $3.84 billion during the six months ended June 30, 2021 and 2020, respectively. As of June 30, 2021, there was $24.48 billion of unrecognized share-based compensation expense related to RSU awards. This unrecognized compensation expense is expected to be recognized over a weighted-average period of approximately three years based on vesting under the award service conditions.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our tax provision for interim periods is determined using an estimated annual effective tax rate, adjusted for discrete items arising in that quarter. In each quarter, we update the estimated annual effective tax rate and make a year-to-date adjustment to the provision. The estimated annual effective tax rate is subject to significant volatility due to several factors, including our ability to accurately predict the proportion of our income (loss) before provision for income taxes in multiple jurisdictions, the U.S. tax benefits from foreign derived intangible income, the effects of tax law changes, the effects of acquisitions, and the integration of those acquisitions. Our gross unrecognized tax benefits were $9.07 billion and $8.69 billion on June 30, 2021 and December 31, 2020, respectively. If the gross unrecognized tax benefits as of June 30, 2021 were realized in a future period, this would result in a tax benefit of $5.09 billion within our provision of income taxes at such time. The amount of interest and penalties accrued was $853 million and $774 million as of June 30, 2021 and December 31, 2020, respectively. We expect to continue to accrue unrecognized tax benefits for certain recurring tax positions. We are subject to taxation in the United States and various other state and foreign jurisdictions. The material jurisdictions in which we are subject to potential examination include the United States and Ireland. We are under examination by the Internal Revenue Service (IRS) for our 2014 through 2016 and 2018 tax years and by the Irish tax authorities for our 2016 through 2018 tax years. Our 2017 and subsequent tax years remain open to examination by the IRS. Our 2019 and subsequent tax years remain open to examination in Ireland. In July 2016, we received a Statutory Notice of Deficiency (Notice) from the IRS related to transfer pricing with our foreign subsidiaries in conjunction with the examination of the 2010 tax year. While the Notice applies only to the 2010 tax year, the IRS stated that it will also apply its position for tax years subsequent to 2010 and has done so in years covered by the second Notice described below. We do not agree with the position of the IRS and have filed a petition in the Tax Court challenging the Notice. On January 15, 2020, the IRS’s amendment to answer was filed stating that it planned to assert at trial an adjustment that is higher than the adjustment stated in the Notice. The first session of the trial was completed in March 2020 and a second session is expected to continue beginning in October 2021. Based on the information provided, we believe that, if the IRS prevails in its updated position, this could result in an additional federal tax liability of an estimated, aggregate amount of up to approximately $9.0 billion in excess of the amounts in our originally filed U.S. return, plus interest and any penalties asserted. In March 2018, we received a second Notice from the IRS in conjunction with the examination of our 2011 through 2013 tax years. The IRS applied its position from the 2010 tax year to each of these years and also proposed new adjustments related to other transfer pricing with our foreign subsidiaries and certain tax credits that we claimed. If the IRS prevails in its position for these new adjustments, this could result in an additional federal tax liability of up to approximately $680 million in excess of the amounts in our originally filed U.S. returns, plus interest and any penalties asserted. We do not agree with the positions of the IRS in the second Notice and have filed a petition in the Tax Court challenging the second Notice. We have previously accrued an estimated unrecognized tax benefit consistent with the guidance in ASC 740, Income Taxes that is lower than the potential additional federal tax liability from the positions taken by the IRS in the two Notices and its Pretrial Memorandum . In addition, if the IRS prevails in its positions related to transfer pricing with our foreign subsidiaries, the additional tax that we would owe would be partially offset by a reduction in the tax that we owe under the mandatory transition tax on accumulated foreign earnings from the 2017 Tax Cuts and Jobs Act . As of June 30, 2021, we have not resolved these matters and proceedings continue in the Tax Court. We believe that adequate amounts have been reserved in accordance with ASC 740 for any adjustments to the provision for income taxes or other tax items that may ultimately result from these examinations. The timing of the resolution, settlement, and closure of any audits is highly uncertain, and it is reasonably possible that the balance of gross unrecognized tax benefits could significantly change in the next 12 months. Given the number of years remaining that are subject to examination, we are unable to estimate the full range of possible adjustments to the balance of gross unrecognized tax benefits. If the taxing authorities prevail in the assessment of additional tax due, the assessed tax, interest, and penalties, if any, could have a material adverse impact on our financial position, results of operations, and cash flows.

Geographical Information

Geographical Information	6 Months Ended
	Jun. 30, 2021
Segments, Geographical Areas [Abstract]
Geographical Information	Geographical Information The following table sets forth our long-lived assets by geographic area, which consist of property and equipment, net and operating lease right-of-use assets, net (in millions): June 30, 2021 December 31, 2020 United States $ 48,412 $ 43,128 Rest of the world (1) 13,022 11,853 Total long-lived assets $ 61,434 $ 54,981 ____________________________________ (1) No individual country, other than disclosed above, exceeded 10% of our total long-lived assets for any period presented.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2020. The condensed consolidated balance sheet as of December 31, 2020 included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP. The condensed consolidated financial statements include the accounts of Facebook, Inc., its subsidiaries where we have controlling financial interests, and any variable interest entities for which we are deemed to be the primary beneficiary. All intercompany balances and transactions have been eliminated. The accompanying condensed consolidated financial statements reflect all normal recurring adjustments that are necessary to present fairly the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year ending December 31, 2021.
Use of Estimates	Use of Estimates Preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and judgments that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments we make about the carrying values of our assets and liabilities, which are not readily apparent from other sources. We base our estimates and judgments on historical information and on various other assumptions that we believe are reasonable under the circumstances. GAAP requires us to make estimates and judgments in several areas, including, but not limited to, those related to revenue recognition, valuation of equity investments, income taxes, loss contingencies, valuation of long-lived assets including goodwill and intangible assets and their associated estimated useful lives, collectibility of accounts receivable, credit losses of available-for-sale debt securities, fair value of financial instruments, and leases. These estimates are based on management's knowledge about current events and expectations about actions we may undertake in the future. Actual results could differ materially from those estimates.
Recently Adopted Accounting Pronouncements and Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements On January 1, 2021, we adopted Accounting Standards Update No. 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) (ASU 2020-01), which clarifies the interaction of the accounting for equity securities under Topic 321, the accounting for equity method investments in Topic 323, and the accounting for certain forward contracts and purchased options in Topic 815. The adoption of this new standard did not have a material impact on our condensed consolidated financial statements. Accounting Pronouncements Not Yet Adopted In August 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity (ASU 2020-06), which simplifies the accounting for convertible instruments by reducing the number of accounting models available for
Earnings Per Share	We compute earnings per share (EPS) of Class A and Class B common stock using the two-class method. Basic EPS is computed by dividing net income by the weighted-average number of shares of our Class A and Class B common stock outstanding. For the calculation of diluted EPS, net income for basic EPS is adjusted by the effect of dilutive securities under our equity compensation plans. In addition, the computation of the diluted EPS of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted EPS of Class B common stock does not assume the conversion of those shares to Class A common stock. Diluted EPS attributable to common stockholders is computed by dividing the resulting net income by the weighted-average number of fully diluted common shares outstanding.
Commitments and Contingencies	Additionally, we are required to comply with various legal and regulatory obligations around the world. The requirements for complying with these obligations may be uncertain and subject to interpretation and enforcement by regulatory and other authorities, and any failure to comply with such obligations could eventually lead to asserted legal or regulatory action. With respect to these other legal proceedings, claims, regulatory, tax, or government inquiries and investigations, and other matters, asserted and unasserted, we evaluate the associated developments on a regular basis and accrue a liability when we believe a loss is probable and the amount can be reasonably estimated. In addition, we believe there is a reasonable possibility that we may incur a loss in some of these other matters. We believe that the amount of losses or any estimable range of possible losses with respect to these other matters will not, either individually or in the aggregate, have a material adverse effect on our business and condensed consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenue disaggregated by revenue source consists of the following (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Advertising $ 28,580 $ 18,321 $ 54,018 $ 35,760 Other revenue 497 366 1,230 663 Total revenue $ 29,077 $ 18,687 $ 55,248 $ 36,423 Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 United States and Canada (1) $ 12,612 $ 8,292 $ 24,048 $ 16,304 Europe (2) 7,220 4,249 13,604 8,398 Asia-Pacific 6,677 4,611 12,778 8,582 Rest of World (2) 2,568 1,535 4,818 3,139 Total revenue $ 29,077 $ 18,687 $ 55,248 $ 36,423 ____________________________________ (1) United States revenue was $11.82 billion and $7.83 billion for the three months ended June 30, 2021 and 2020, respectively, and $22.57 billion and $15.38 billion for the six months ended June 30, 2021 and 2020, respectively. (2) Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Numerators and Denominators of Basic and Diluted EPS Computations for Common Stock	The numerators and denominators of the basic and diluted EPS computations for our common stock are calculated as follows (in millions, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Class A Class B Class A Class B Class A Class B Class A Class B Basic EPS: Numerator Net income $ 8,785 $ 1,609 $ 4,371 $ 807 $ 16,810 $ 3,082 $ 8,509 $ 1,572 Denominator Weighted-average shares outstanding 2,395 439 2,406 444 2,401 440 2,407 444 Basic EPS $ 3.67 $ 3.67 $ 1.82 $ 1.82 $ 7.00 $ 7.00 $ 3.54 $ 3.54 Diluted EPS: Numerator Net income $ 8,785 $ 1,609 $ 4,371 $ 807 $ 16,810 $ 3,082 $ 8,509 $ 1,572 Reallocation of net income as a result of conversion of Class B to Class A common stock 1,609 — 807 — 3,082 — 1,572 — Reallocation of net income to Class B common stock — (24) — (8) — (44) — (13) Net income for diluted EPS $ 10,394 $ 1,585 $ 5,178 $ 799 $ 19,892 $ 3,038 $ 10,081 $ 1,559 Denominator Number of shares used for basic EPS computation 2,395 439 2,406 444 2,401 440 2,407 444 Conversion of Class B to Class A common stock 439 — 444 — 440 — 444 — Weighted-average effect of dilutive RSUs 43 — 29 — 40 — 25 — Number of shares used for diluted EPS computation 2,877 439 2,879 444 2,881 440 2,876 444 Diluted EPS $ 3.61 $ 3.61 $ 1.80 $ 1.80 $ 6.90 $ 6.90 $ 3.51 $ 3.51

Cash and Cash Equivalents, an_2

Cash and Cash Equivalents, and Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2021
Cash and Cash Equivalents and Marketable Securities [Abstract]
Cash and Cash Equivalents, and Marketable Securities	The following table sets forth the cash and cash equivalents and marketable securities (in millions): June 30, 2021 December 31, 2020 Cash and cash equivalents: Cash $ 6,132 $ 6,488 Money market funds 9,346 9,755 U.S. government securities 298 1,016 Certificate of deposits and time deposits 355 305 Corporate debt securities 55 12 Total cash and cash equivalents 16,186 17,576 Marketable securities: U.S. government securities 23,184 20,921 U.S. government agency securities 10,705 11,698 Corporate debt securities 14,005 11,759 Total marketable securities 47,894 44,378 Total cash and cash equivalents and marketable securities $ 64,080 $ 61,954
Marketable Securities by Contractual Maturities	The following table classifies our marketable securities by contractual maturities (in millions): June 30, 2021 Due within one year $ 11,819 Due after one year to five years 36,075 Total $ 47,894

Equity Investments (Tables)

Equity Investments (Tables)	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Equity Securities without Readily Determinable Fair Value	The changes in the carrying value of equity investments for the six months ended June 30, 2021 are as follows (in millions): Balance as of December 31, 2020 $ 6,234 Additions 20 Impairment (10) Adjustments 149 Balance as of June 30, 2021 $ 6,393

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value	The following table summarizes our assets measured at fair value and the classification by level of input within the fair value hierarchy (in millions): Fair Value Measurement at Reporting Date Using Description June 30, 2021 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Cash equivalents: Money market funds $ 9,346 $ 9,346 $ — U.S. government securities 298 298 — Certificate of deposits and time deposits 355 — 355 Corporate debt securities 55 — 55 Marketable securities: U.S. government securities 23,184 23,184 — U.S. government agency securities 10,705 10,705 — Corporate debt securities 14,005 — 14,005 Total cash equivalents and marketable securities $ 57,948 $ 43,533 $ 14,415 Fair Value Measurement at Reporting Date Using Description December 31, 2020 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Cash equivalents: Money market funds $ 9,755 $ 9,755 $ — U.S. government securities 1,016 1,016 — Certificate of deposits and time deposits 305 — 305 Corporate debt securities 12 — 12 Marketable securities: U.S. government securities 20,921 20,921 — U.S. government agency securities 11,698 11,698 — Corporate debt securities 11,759 — 11,759 Total cash equivalents and marketable securities $ 55,466 $ 43,390 $ 12,076

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment, net consists of the following (in millions): June 30, 2021 December 31, 2020 Land $ 1,428 $ 1,326 Buildings 19,873 17,360 Leasehold improvements 5,294 4,321 Network equipment 24,085 22,003 Computer software, office equipment and other 2,814 2,458 Finance lease right-of-use assets 2,557 2,295 Construction in progress 12,593 11,288 Total 68,644 61,051 Less: Accumulated depreciation (17,735) (15,418) Property and equipment, net $ 50,909 $ 45,633

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Components of Lease Costs	The components of lease costs are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Finance lease cost Amortization of right-of-use assets $ 83 $ 60 $ 164 $ 120 Interest 4 4 7 7 Operating lease cost 371 344 733 684 Variable lease cost and other, net 59 57 126 117 Total lease cost $ 517 $ 465 $ 1,030 $ 928
Lease, Balance Sheet Information	Supplemental balance sheet information related to leases is as follows: June 30, 2021 December 31, 2020 Weighted-average remaining lease term Operating leases 12.5 years 12.2 years Finance leases 14.7 years 14.9 years Weighted-average discount rate Operating leases 3.0 % 3.1 % Finance leases 2.8 % 2.9 %
Finance Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2021 (in millions): Operating Leases Finance Leases The remainder of 2021 $ 613 $ 51 2022 1,448 55 2023 1,436 49 2024 1,329 43 2025 1,164 43 Thereafter 8,912 434 Total undiscounted cash flows 14,902 675 Less: Imputed interest (2,895) (119) Present value of lease liabilities $ 12,007 $ 556 Lease liabilities, current $ 1,051 $ 63 Lease liabilities, non-current 10,956 493 Present value of lease liabilities $ 12,007 $ 556
Operating Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2021 (in millions): Operating Leases Finance Leases The remainder of 2021 $ 613 $ 51 2022 1,448 55 2023 1,436 49 2024 1,329 43 2025 1,164 43 Thereafter 8,912 434 Total undiscounted cash flows 14,902 675 Less: Imputed interest (2,895) (119) Present value of lease liabilities $ 12,007 $ 556 Lease liabilities, current $ 1,051 $ 63 Lease liabilities, non-current 10,956 493 Present value of lease liabilities $ 12,007 $ 556
Lease, Cash Flows Information	Supplemental cash flow information related to leases is as follows (in millions): Six Months Ended June 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 682 $ 572 Operating cash flows for finance leases $ 7 $ 7 Financing cash flows for finance leases $ 274 $ 209 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 1,941 $ 689 Finance leases $ 70 $ 33

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the six months ended June 30, 2021 are as follows (in millions): Balance as of December 31, 2020 $ 19,050 Goodwill acquired 170 Effect of currency translation adjustment (1) Balance as of June 30, 2021 $ 19,219
Schedule of Intangible Assets	The following table sets forth the major categories of the intangible assets and the weighted‑average remaining useful lives for those assets that are not already fully amortized (in millions): June 30, 2021 December 31, 2020 Weighted-Average Remaining Useful Lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired users 0.3 $ 2,057 $ (1,984) $ 73 $ 2,057 $ (1,840) $ 217 Acquired technology 2.6 1,401 (1,144) 257 1,297 (1,088) 209 Acquired patents 3.7 827 (699) 128 805 (677) 128 Trade names 2.2 641 (631) 10 636 (622) 14 Other 2.7 223 (177) 46 223 (168) 55 Total intangible assets $ 5,149 $ (4,635) $ 514 $ 5,018 $ (4,395) $ 623
Expected Amortization Expense for Unamortized Acquired Intangible Assets	As of June 30, 2021, expected amortization expense for the unamortized acquired intangible assets for the next five years and thereafter is as follows (in millions): The remainder of 2021 $ 173 2022 163 2023 95 2024 49 2025 18 Thereafter 16 Total $ 514

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Restricted Stock Units Award Activity	The following table summarizes the activities for our unvested RSUs for the six months ended June 30, 2021: Unvested RSUs Number of Shares Weighted-Average Grant Date Fair Value (in thousands) Unvested at December 31, 2020 96,733 $ 181.88 Granted 46,177 $ 294.54 Vested (22,009) $ 188.28 Forfeited (6,206) $ 200.23 Unvested at June 30, 2021 114,695 $ 225.01

Geographical Information (Table

Geographical Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segments, Geographical Areas [Abstract]
Revenue and Property and Equipment by Geographic Area	The following table sets forth our long-lived assets by geographic area, which consist of property and equipment, net and operating lease right-of-use assets, net (in millions): June 30, 2021 December 31, 2020 United States $ 48,412 $ 43,128 Rest of the world (1) 13,022 11,853 Total long-lived assets $ 61,434 $ 54,981 ____________________________________ (1) No individual country, other than disclosed above, exceeded 10% of our total long-lived assets for any period presented.

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 29,077	$ 18,687	$ 55,248	$ 36,423
United States and Canada
Disaggregation of Revenue [Line Items]
Revenue	12,612	8,292	24,048	16,304
Europe
Disaggregation of Revenue [Line Items]
Revenue	7,220	4,249	13,604	8,398
Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue	6,677	4,611	12,778	8,582
Rest of World
Disaggregation of Revenue [Line Items]
Revenue	2,568	1,535	4,818	3,139
United States
Disaggregation of Revenue [Line Items]
Revenue	11,820	7,830	22,570	15,380
Advertising
Disaggregation of Revenue [Line Items]
Revenue	28,580	18,321	54,018	35,760
Other revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 497	$ 366	$ 1,230	$ 663

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Total deferred revenue balance	$ 386	$ 371
Deferred revenue	$ 348

Earnings per Share - Basic and

Earnings per Share - Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator
Net income	$ 10,394	$ 5,178	$ 19,892	$ 10,081
Denominator
Number of shares used for basic EPS computation (in shares)	2,834	2,850	2,841	2,851
Basic EPS (in dollars per share)	$ 3.67	$ 1.82	$ 7	$ 3.54
Numerator
Net income	$ 10,394	$ 5,178	$ 19,892	$ 10,081
Denominator
Number of shares used for diluted EPS computation (in shares)	2,877	2,879	2,881	2,876
Diluted EPS (in dollars per share)	$ 3.61	$ 1.80	$ 6.90	$ 3.51
Class A Common Stock
Numerator
Net income	$ 8,785	$ 4,371	$ 16,810	$ 8,509
Denominator
Number of shares used for basic EPS computation (in shares)	2,395	2,406	2,401	2,407
Basic EPS (in dollars per share)	$ 3.67	$ 1.82	$ 7	$ 3.54
Numerator
Net income	$ 8,785	$ 4,371	$ 16,810	$ 8,509
Reallocation of net income as a result of conversion of Class B to Class A common stock	1,609	807	3,082	1,572
Reallocation of net income to Class B common stock	0	0	0	0
Net income for diluted EPS	$ 10,394	$ 5,178	$ 19,892	$ 10,081
Denominator
Conversion of Class B to Class A common stock (in shares)	439	444	440	444
Weighted average effect of dilutive RSUs (in shares)	43	29	40	25
Number of shares used for diluted EPS computation (in shares)	2,877	2,879	2,881	2,876
Diluted EPS (in dollars per share)	$ 3.61	$ 1.80	$ 6.90	$ 3.51
Class B Common Stock
Numerator
Net income	$ 1,609	$ 807	$ 3,082	$ 1,572
Denominator
Number of shares used for basic EPS computation (in shares)	439	444	440	444
Basic EPS (in dollars per share)	$ 3.67	$ 1.82	$ 7	$ 3.54
Numerator
Net income	$ 1,609	$ 807	$ 3,082	$ 1,572
Reallocation of net income as a result of conversion of Class B to Class A common stock	0	0	0	0
Reallocation of net income to Class B common stock	(24)	(8)	(44)	(13)
Net income for diluted EPS	$ 1,585	$ 799	$ 3,038	$ 1,559
Denominator
Conversion of Class B to Class A common stock (in shares)	0	0	0	0
Weighted average effect of dilutive RSUs (in shares)	0	0	0	0
Number of shares used for diluted EPS computation (in shares)	439	444	440	444
Diluted EPS (in dollars per share)	$ 3.61	$ 1.80	$ 6.90	$ 3.51

Cash and Cash Equivalents, an_3

Cash and Cash Equivalents, and Marketable Securities - Breakout of Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Cash and Cash Equivalents, and Marketable Securities
Cash and cash equivalents	$ 16,186	$ 17,576	$ 21,045
Marketable securities	47,894	44,378
Total cash and cash equivalents and marketable securities	64,080	61,954
U.S. government securities
Cash and Cash Equivalents, and Marketable Securities
Marketable securities	23,184	20,921
U.S. government agency securities
Cash and Cash Equivalents, and Marketable Securities
Marketable securities	10,705	11,698
Corporate debt securities
Cash and Cash Equivalents, and Marketable Securities
Marketable securities	14,005	11,759
Cash
Cash and Cash Equivalents, and Marketable Securities
Cash and cash equivalents	6,132	6,488
Money market funds
Cash and Cash Equivalents, and Marketable Securities
Cash and cash equivalents	9,346	9,755
U.S. government securities
Cash and Cash Equivalents, and Marketable Securities
Cash and cash equivalents	298	1,016
Certificate of deposits and time deposits
Cash and Cash Equivalents, and Marketable Securities
Cash and cash equivalents	355	305
Corporate debt securities
Cash and Cash Equivalents, and Marketable Securities
Cash and cash equivalents	$ 55	$ 12

Cash and Cash Equivalents, an_4

Cash and Cash Equivalents, and Marketable Securities - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Cash and Cash Equivalents and Marketable Securities [Abstract]
Gross unrealized gains on marketable securities	$ 410	$ 641

Cash and Cash Equivalents, an_5

Cash and Cash Equivalents, and Marketable Securities - Contractual Maturities of Marketable Debt Securities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Contractual Maturities of Marketable Securities
Due within one year	$ 11,819
Due after one year to five years	36,075
Total marketable securities	$ 47,894	$ 44,378

Equity Investments (Details)

Equity Investments (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Equity Investments Without Readily Determinable Fair Value [Roll Forward]
Balance as of December 31, 2020	$ 6,234
Additions	20
Impairment	(10)
Adjustments	149
Balance as of June 30, 2021	$ 6,393

Fair Value Measurement - Assets

Fair Value Measurement - Assets Measured at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities	$ 47,894	$ 44,378
Total cash equivalents and marketable securities	57,948	55,466
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Total cash equivalents and marketable securities	43,533	43,390
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Total cash equivalents and marketable securities	14,415	12,076
U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities	23,184	20,921
U.S. government securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities	23,184	20,921
U.S. government securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities	0	0
U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities	10,705	11,698
U.S. government agency securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities	10,705	11,698
U.S. government agency securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities	0	0
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities	14,005	11,759
Corporate debt securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities	0	0
Corporate debt securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities	14,005	11,759
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	9,346	9,755
Money market funds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	9,346	9,755
Money market funds | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	298	1,016
U.S. government securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	298	1,016
U.S. government securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
Certificate of deposits and time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	355	305
Certificate of deposits and time deposits | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
Certificate of deposits and time deposits | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	355	305
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	55	12
Corporate debt securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
Corporate debt securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	$ 55	$ 12

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Property, Plant and Equipment
Finance lease right-of-use assets	$ 2,557		$ 2,557		$ 2,295
Total	68,644		68,644		61,051
Less: Accumulated depreciation	(17,735)		(17,735)		(15,418)
Property and equipment, net	50,909		50,909		45,633
Depreciation	1,860	$ 1,580	3,720	$ 3,070
Land
Property, Plant and Equipment
Property and equipment, gross	1,428		1,428		1,326
Buildings
Property, Plant and Equipment
Property and equipment, gross	19,873		19,873		17,360
Leasehold improvements
Property, Plant and Equipment
Property and equipment, gross	5,294		5,294		4,321
Network Equipment
Property, Plant and Equipment
Property and equipment, gross	24,085		24,085		22,003
Computer software, office equipment and other
Property, Plant and Equipment
Property and equipment, gross	2,814		2,814		2,458
Construction in progress
Property, Plant and Equipment
Property and equipment, gross	$ 12,593		$ 12,593		$ 11,288

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Finance lease cost
Amortization of right-of-use assets	$ 83	$ 60	$ 164	$ 120
Interest	4	4	7	7
Operating lease cost	371	344	733	684
Variable lease cost and other, net	59	57	126	117
Total lease cost	$ 517	$ 465	$ 1,030	$ 928
Weighted-average remaining lease term
Operating leases	12 years 6 months		12 years 6 months		12 years 2 months 12 days
Finance leases	14 years 8 months 12 days		14 years 8 months 12 days		14 years 10 months 24 days
Weighted-average discount rate
Operating leases	3.00%		3.00%		3.10%
Finance leases	2.80%		2.80%		2.90%

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Operating Leases
The remainder of 2021	$ 613
2022	1,448
2023	1,436
2024	1,329
2025	1,164
Thereafter	8,912
Total undiscounted cash flows	14,902
Less: Imputed interest	(2,895)
Present value of lease liabilities	12,007
Operating lease liabilities, current	1,051	$ 1,023
Operating lease liabilities, non-current	10,956	$ 9,631
Finance Leases
The remainder of 2021	51
2022	55
2023	49
2024	43
2025	43
Thereafter	434
Total undiscounted cash flows	675
Less: Imputed interest	(119)
Present value of lease liabilities	556
Lease liabilities, current	63
Lease liabilities, non-current	$ 493

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Lessee, Lease, Description [Line Items]
Operating lease not yet commenced	$ 5,930
Finance lease not yet commenced	$ 887
Minimum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	30 years

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 682	$ 572
Operating cash flows for finance leases	7	7
Financing cash flows for finance leases	274	209
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	1,941	689
Finance leases	$ 70	$ 33

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Change in Carrying Amount of Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Goodwill
Balance as of December 31, 2020	$ 19,050
Goodwill acquired	170
Effect of currency translation adjustment	(1)
Balance as of June 30, 2021	$ 19,219

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 5,149		$ 5,149		$ 5,018
Accumulated Amortization	(4,635)		(4,635)		(4,395)
Net Carrying Amount	514		514		623
Amortization expense	122	$ 118	$ 240	$ 229
Acquired users
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)			3 months 18 days
Gross Carrying Amount	2,057		$ 2,057		2,057
Accumulated Amortization	(1,984)		(1,984)		(1,840)
Net Carrying Amount	73		$ 73		217
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)			2 years 7 months 6 days
Gross Carrying Amount	1,401		$ 1,401		1,297
Accumulated Amortization	(1,144)		(1,144)		(1,088)
Net Carrying Amount	257		$ 257		209
Acquired patents
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)			3 years 8 months 12 days
Gross Carrying Amount	827		$ 827		805
Accumulated Amortization	(699)		(699)		(677)
Net Carrying Amount	128		$ 128		128
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)			2 years 2 months 12 days
Gross Carrying Amount	641		$ 641		636
Accumulated Amortization	(631)		(631)		(622)
Net Carrying Amount	10		$ 10		14
Other
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)			2 years 8 months 12 days
Gross Carrying Amount	223		$ 223		223
Accumulated Amortization	(177)		(177)		(168)
Net Carrying Amount	$ 46		$ 46		$ 55

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Estimated Amortization Expense (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
The remainder of 2021	$ 173
2022	163
2023	95
2024	49
2025	18
Thereafter	16
Net Carrying Amount	$ 514	$ 623

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2021USD ($)	Jul. 27, 2018claim	Apr. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jan. 15, 2020USD ($)
Loss Contingencies [Line Items]
Non-cancelable contractual commitments				$ 12,850
Commitment period				5 years
Number of class actions filed | claim		2
FTC Inquiry
Loss Contingencies [Line Items]
Payment of penalty for settlement			$ 5,000
Illinois Biometric Information Privacy Act
Loss Contingencies [Line Items]
Loss contingency accrual					$ 550
Settled Litigation | Illinois Biometric Information Privacy Act
Loss Contingencies [Line Items]
Payment of penalty for settlement	$ 650

Stockholders' Equity - Share Re

Stockholders' Equity - Share Repurchase Program (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Jan. 31, 2020
Equity [Abstract]
Remaining authorized repurchase amount	$ 22,340		$ 22,340		$ 8,600
Additional amount of repurchases authorized						$ 25,000
Shares repurchased and retired (in shares)			37
Shares repurchased and retired	$ 7,149	$ 1,379	$ 11,260	$ 2,621

Stockholders' Equity - Share-ba

Stockholders' Equity - Share-based Compensation Plans (Detail) shares in Millions	6 Months Ended
	Jun. 30, 2021plan	Jan. 01, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award
Share-based employee compensation plans, number | plan	1
Equity Incentive Plan 2012
Share-based Compensation Arrangement by Share-based Payment Award
Equity incentive plan shares authorized (in shares) | shares		145
Shares reserved for issuance increase, percentage	2.50%
Restricted Stock Units (RSUs) | Equity Incentive Plan 2012
Share-based Compensation Arrangement by Share-based Payment Award
Vesting service period	4 years

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) shares in Thousands	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Number of Shares
Unvested at beginning of period (in shares) | shares	96,733
Granted (in shares) | shares	46,177
Vested (in shares) | shares	(22,009)
Forfeited (in shares) | shares	(6,206)
Unvested at end of period (in shares) | shares	114,695
Weighted-Average Grant Date Fair Value
Unvested at beginning of period (in dollars per share) | $ / shares	$ 181.88
Granted (in dollars per share) | $ / shares	294.54
Vested (in dollars per share) | $ / shares	188.28
Forfeited (in dollars per share) | $ / shares	200.23
Unvested at end of period (in dollars per share) | $ / shares	$ 225.01

Stockholders' Equity - Addition

Stockholders' Equity - Additional Award Disclosures (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized share-based compensation expense	$ 24,480		$ 24,480
Unrecognized share-based compensation expense recognition period (in years)			3 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Fair value of vested RSUs	$ 3,650	$ 2,040	$ 6,480	$ 3,840

Income Taxes (Details)

Income Taxes (Details) $ in Millions	Jan. 15, 2020USD ($)	Dec. 31, 2013USD ($)	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Mar. 31, 2018notice
Income Tax Contingency [Line Items]
Unrecognized tax benefits			$ 9,070	$ 8,690
Unrecognized tax benefits that would result in tax benefit if realized			5,090
Accrued interest and penalties			$ 853	$ 774
Internal Revenue Service (IRS) | Tax Year 2010
Income Tax Contingency [Line Items]
Income tax examination, estimate of possible loss	$ 9,000
Internal Revenue Service (IRS) | Tax Years 2011 Through 2013
Income Tax Contingency [Line Items]
Income tax examination, estimate of possible loss		$ 680
Number of notices | notice					2

Geographical Information - Prop

Geographical Information - Property and Equipment, Net (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Long-Lived Assets By Geographical Area
Total long-lived assets	$ 61,434	$ 54,981
United States
Long-Lived Assets By Geographical Area
Total long-lived assets	48,412	43,128
Rest of the world
Long-Lived Assets By Geographical Area
Total long-lived assets	$ 13,022	$ 11,853