Meta Platforms (META) 10-Q 26 Apr 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 21, 2023
Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-35551
Entity Registrant Name	Meta Platforms, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1665019
Entity Address, Address Line One	1 Meta Way
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, $0.000006 par value
Trading Symbol	META
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	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001326801
Current Fiscal Year End Date	--12-31
Class A Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		2,212,153,203
Class B Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		350,578,831

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 11,551	$ 14,681
Marketable securities	25,888	26,057
Accounts receivable, net	11,044	13,466
Prepaid expenses and other current assets	4,000	5,345
Total current assets	52,483	59,549
Non-marketable equity securities	6,167	6,201
Property and equipment, net	84,156	79,518
Operating lease right-of-use assets	12,899	12,673
Intangible assets, net	949	897
Goodwill	20,649	20,306
Other assets	7,188	6,583
Total assets	184,491	185,727
Current liabilities:
Accounts payable	3,672	4,990
Partners payable	885	1,117
Operating lease liabilities, current	1,479	1,367
Accrued expenses and other current liabilities	19,345	19,552
Total current liabilities	25,381	27,026
Operating lease liabilities, non-current	16,171	15,301
Long-term debt	9,925	9,923
Other liabilities	8,219	7,764
Total liabilities	59,696	60,014
Commitments and contingencies
Stockholders' equity:
Common stock, $0.000006 par value; 5,000 million Class A shares authorized, 2,215 million and 2,247 million shares issued and outstanding, as of March 31, 2023 and December 31, 2022, respectively; 4,141 million Class B shares authorized, 351 million and 367 million shares issued and outstanding, as of March 31, 2023 and December 31, 2022, respectively	0	0
Additional paid-in capital	66,535	64,444
Accumulated other comprehensive loss	(2,981)	(3,530)
Retained earnings	61,241	64,799
Total stockholders' equity	124,795	125,713
Total liabilities and stockholders' equity	$ 184,491	$ 185,727

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2023	Dec. 31, 2022
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	5,000
Common stock, shares issued (in shares)	2,215	2,247
Common stock, shares outstanding (in shares)	2,215	2,247
Class B Common Stock
Stockholders' equity:
Common stock, shares authorized (in shares)	4,141	4,141
Common stock, shares issued (in shares)	351	367
Common stock, shares outstanding (in shares)	351	367

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue:	$ 28,645	$ 27,908
Costs and expenses:
Cost of revenue	6,108	6,005
Research and development	9,381	7,707
Marketing and sales	3,044	3,312
General and administrative	2,885	2,360
Total costs and expenses	21,418	19,384
Income from operations	7,227	8,524
Interest and other income, net	80	384
Income before provision for income taxes	7,307	8,908
Provision for income taxes	1,598	1,443
Net income	$ 5,709	$ 7,465
Earnings per share attributable to Class A and Class B common stockholders:
Basic (in dollars per share)	$ 2.21	$ 2.74
Diluted (in dollars per share)	$ 2.20	$ 2.72
Weighted-average shares used to compute earnings per share attributable to Class A and Class B common stockholders:
Basic (in shares)	2,587	2,725
Diluted (in shares)	2,596	2,742

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 5,709	$ 7,465
Other comprehensive income (loss):
Change in foreign currency translation adjustment, net of tax	248	(359)
Change in unrealized gain (loss) on available-for-sale investments and other, net of tax	301	(944)
Comprehensive income	$ 6,258	$ 6,162

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, 2021		2,741
Balances at beginning of period at Dec. 31, 2021	$ 124,879	$ 0	$ 55,811	$ (693)	$ 69,761
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	(925)		(797)		(128)
Share-based compensation	2,498		2,498
Share repurchases (in shares)		(34)
Share repurchases	(9,386)				(9,386)
Other comprehensive income (loss)	(1,303)			(1,303)
Net income	7,465				7,465
Balances at end of period (in shares) at Mar. 31, 2022		2,714
Balances at end of period at Mar. 31, 2022	123,228	$ 0	57,512	(1,996)	67,712
Balances at beginning of period (in shares) at Dec. 31, 2022		2,614
Balances at beginning of period at Dec. 31, 2022	125,713	$ 0	64,444	(3,530)	64,799
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		14
Shares withheld related to net share settlement (in shares)		(6)
Shares withheld related to net share settlement	(1,009)		(960)		(49)
Share-based compensation	3,051		3,051
Share repurchases (in shares)		(56)
Share repurchases	(9,218)				(9,218)
Other comprehensive income (loss)	549			549
Net income	5,709				5,709
Balances at end of period (in shares) at Mar. 31, 2023		2,566
Balances at end of period at Mar. 31, 2023	$ 124,795	$ 0	$ 66,535	$ (2,981)	$ 61,241

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	$ 5,709	$ 7,465
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,524	2,156
Share-based compensation	3,051	2,498
Deferred income taxes	(620)	(563)
Impairment charges for facilities consolidation	770	0
Other	(7)	(221)
Changes in assets and liabilities:
Accounts receivable	2,546	2,557
Prepaid expenses and other current assets	821	573
Other assets	30	(108)
Accounts payable	(1,104)	(882)
Partners payable	(240)	(105)
Accrued expenses and other current liabilities	334	763
Other liabilities	184	(57)
Net cash provided by operating activities	13,998	14,076
Cash flows from investing activities
Purchases of property and equipment	(6,842)	(5,441)
Proceeds relating to property and equipment	19	126
Purchases of marketable debt securities	(85)	(4,068)
Maturities and sales of marketable debt securities	534	5,467
Acquisitions of businesses and intangible assets	(444)	(853)
Other investing activities	75	(10)
Net cash used in investing activities	(6,743)	(4,779)
Cash flows from financing activities
Taxes paid related to net share settlement of equity awards	(1,009)	(925)
Repurchases of Class A common stock	(9,365)	(9,506)
Principal payments on finance leases	(264)	(233)
Other financing activities	122	4
Net cash used in financing activities	(10,516)	(10,660)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	85	(149)
Net decrease in cash, cash equivalents, and restricted cash	(3,176)	(1,512)
Cash, cash equivalents, and restricted cash at beginning of the period	15,596	16,865
Cash, cash equivalents, and restricted cash at end of the period	12,420	15,353
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Cash and cash equivalents	11,551	14,886
Total cash, cash equivalents, and restricted cash	12,420	15,353
Supplemental cash flow data
Cash paid for income taxes, net	405	502
Cash paid for interest, net of amounts capitalized	182	0
Non-cash investing and financing activities:
Property and equipment in accounts payable and accrued expenses and other current liabilities	4,466	3,709
Acquisition of businesses in accrued expenses and other current liabilities and other liabilities	263	73
Settlement of convertible notes in exchange of equity securities in other current assets	0	131
Other current assets through financing arrangement in accrued expenses and other current liabilities	11	659
Repurchases of Class A common stock in accrued expenses and other current liabilities	86	221
Restricted cash, included in prepaid expenses and other current assets
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Restricted cash and cash equivalents	224	294
Restricted cash, included in other assets
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Restricted cash and cash equivalents	$ 645	$ 173

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated fi nancial 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, 2022. The condensed consolidated balance sheet as of December 31, 2022 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 Meta Platforms, 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, 2023. 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 non-marketable equity securities, income taxes, loss contingencies, including the ultimate resolution of litigation, regulatory matters, and asserted and unasserted claims, valuation of long-lived assets including goodwill, intangible assets, and property and equipment, and their associated estimated useful lives, valuation of purchase commitments, credit losses of available-for-sale debt securities and accounts receivable, fair value of financial instruments, and fair value of leases. These estimates are based on management's knowledge about current events, interpretation of regulations, 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, 2022.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue disaggregated by revenue source and by segment consists of the following (in millions): Three Months Ended March 31, 2023 2022 Advertising $ 28,101 $ 26,998 Other revenue 205 215 Family of Apps 28,306 27,213 Reality Labs 339 695 Total revenue $ 28,645 $ 27,908 Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions): Three Months Ended March 31, 2023 2022 United States and Canada (1) $ 11,449 $ 11,780 Europe (2) 6,759 6,638 Asia-Pacific 7,292 6,722 Rest of World (2) 3,145 2,768 Total revenue $ 28,645 $ 27,908 ____________________________________ (1) United States revenue was $10.79 billion and $11.10 billion for the three months ended March 31, 2023 and 2022, respectively. (2) Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East. Our total deferred revenue was $492 million and $526 million as of March 31, 2023 and December 31, 2022, respectively. As of March 31, 2023, we expect $460 million of our deferred revenue to be realized in less than a year.

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring 2023 Restructuri ng In March 2023, we announced three rounds of planned layoffs to further reduce our company size by approximately 10,000 employees across the Family of Apps (FoA) and Reality Labs ( RL) segments (the “2023 Restructuring”). I mpacted employees in our recruiting and technology teams were notified in March 2023 and April 2023 , respectively. We expect to notify employees in our business groups and remaining technology teams in May 2023 . In certain regions, it may take through the end of 2023 or longer to complete these layoffs. In connection with these layoffs, we expect to incur total pre-tax severance and related personnel costs of approximately $1 billion across the FoA and RL segments. W e began recording these restructuring charges in the first quarter of 2023 and expect that the remaining charges will be substantially recognized by the end of 2023 in accordance with the Accounting Standards Codification (ASC) Topic 420, Exit or Disposal Cost Obligations . A summary of our 2023 Restructuring pre-tax charges recorded for severance and related personnel costs in the three months ended March 31, 2023 is as follows (in millions) : Three Months Ended March 31, 2023 Research and development $ 324 Marketing and sales 5 General and administrative 194 Total (1) $ 523 ____________________________ (1) Total severance and related personnel costs i nclude $61 million of share-based compensation expense recognized for the 2023 layoffs. Total restructuring charges recorded under our FoA segment were $468 million and RL segment were $55 million for the three months ended March 31, 2023. The following is a summary of changes in the accrued severance and other personnel liabilities related to 2023 layoff activities, included within accrued expenses and other current liabilities on the condensed consolidated balance sheets (in millions): Severance Liabilities Balance as of January 1, 2023 $ — Severance and other personnel costs 462 Cash payments (9) Balance as of March 31, 2023 $ 453 We expect the liabilities as of March 31, 2023 to be substantially paid out in cash by the end of third quarter of 2023. 2022 Restructuring In 2022, we initiated several measures to pursue greater efficiency and to realign our business and strategic priorities. This includes a facilities consolidation strategy to sublease, early terminate, or abandon several office buildings under operating leases, a layoff of approximately 11,000 employees across the FoA and RL segments, and a pivot towards a next generation data center design, including cancellation of multiple data center projects (the “2022 Restructuring”). As of March 31, 2023, we have substantially completed the 2022 employee layoff while continuing to assess facilities consolidation and data center restructuring initiatives. The 2022 Restructuring charges recorded to date were $5.23 billion, with $4.56 billion in FoA and the remainder in RL. A summary of our 2022 Restructuring pre-tax charges, including subsequent adjustments, is as follows (in millions) : 2022 Three Months Ended March 31, 2023 Plan to Date Facilities Consolidation Severance and Other Personnel Costs Data Center Assets Total Facilities Consolidation Severance and Other Personnel Costs Data Center Assets (1) Total Total Cost of revenue $ 154 $ — $ 1,341 $ 1,495 $ 58 $ — $ (168) $ (110) $ 1,385 Research and development 1,311 408 — 1,719 484 (4) — 480 2,199 Marketing and sales 404 234 — 638 136 (2) — 134 772 General and administrative 426 333 — 759 129 (12) — 117 876 Total $ 2,295 $ 975 $ 1,341 $ 4,611 $ 807 $ (18) $ (168) $ 621 $ 5,232 ____________________________________ (1) Relates to a change in estimates in our data center restructuring charges recorded during the three months ended December 31, 2022. The following is a summary of changes in the severance and other personnel liabilities related to the 2022 layoff activities, included within accrued expenses and other current liabilities on the condensed consolidated balance sheets (in millions): Severance Liabilities Balance as of January 1, 2022 $ — Severance and other personnel costs 975 Cash payments (203) Balance as of December 31, 2022 772 Adjustments and foreign exchange (27) Cash payments (675) Balance as of March 31, 2023 $ 70

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2023
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. As the liquidation and dividend rights for both Class A and Class B common stock are identical, the undistributed earnings are allocated on a proportionate basis to the weighted-average number of common shares outstanding for the period. 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, including awards under our equity compensation plan. 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 is computed by dividing the resulting net income by the weighted-average number of fully diluted common shares outstanding. For the three months ended March 31, 2023 and 2022, approximately 86 million and 48 million shares of Class A common stock equivalents of restricted stock units (RSUs), respectively, were excluded from the diluted EPS calculation as including them would have an anti-dilutive effect. 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 March 31, 2023 2022 Class A Class B Class A Class B Basic EPS: Numerator Net income $ 4,905 $ 804 $ 6,334 $ 1,131 Denominator Shares used in computation of basic earnings per share 2,223 364 2,312 413 Basic EPS $ 2.21 $ 2.21 $ 2.74 $ 2.74 Diluted EPS: Numerator Net income $ 4,905 $ 804 $ 6,334 $ 1,131 Reallocation of net income as a result of conversion of Class B to Class A common stock 804 — 1,131 — Reallocation of net income to Class B common stock — (3) — (7) Net income for diluted EPS $ 5,709 $ 801 $ 7,465 $ 1,124 Denominator Shares used in computation of basic earnings per share 2,223 364 2,312 413 Conversion of Class B to Class A common stock 364 — 413 — Weighted-average effect of dilutive RSUs 9 — 17 — Shares used in computation of diluted earnings per share 2,596 364 2,742 413 Diluted EPS $ 2.20 $ 2.20 $ 2.72 $ 2.72

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2023
Financial Instruments [Abstract]
Financial Instruments	Financial Instruments We have cash deposits with financial institutions globally. As part of our cash management strategy, we concentrate cash deposits with large financial institutions subject to the strictest regulations and our marketable securities are held in diversified highly rated securities. Instruments Measured at Fair Value We classify our cash equivalents and marketable debt 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. Our marketable equity securities are publicly traded stocks measured at fair value and classified within Level 1 in the fair value hierarchy because we use quoted prices for identical assets in active markets to estimate their fair value. Certain other assets are classified within Level 3 because factors used to develop the estimated fair value are unobservable inputs that are not supported by market activity. The following tables summarize our assets measured at fair value on a recurring basis and the classification by level of input within the fair value hierarchy (in millions): Fair Value Measurement at Reporting Date Using Description March 31, 2023 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash $ 5,680 Cash equivalents: Money market funds 5,384 $ 5,384 $ — $ — U.S. government and agency securities 50 50 — — Time deposits 424 — 424 — Corporate debt securities 13 — 13 — Total cash and cash equivalents 11,551 5,434 437 — Marketable securities: U.S. government securities 8,706 8,706 — — U.S. government agency securities 4,997 4,997 — — Corporate debt securities 12,185 — 12,185 — Total marketable securities 25,888 13,703 12,185 — Restricted cash equivalents 579 579 — — Other assets 93 — — 93 Total $ 38,111 $ 19,716 $ 12,622 $ 93 Fair Value Measurement at Reporting Date Using Description December 31, 2022 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash $ 6,176 Cash equivalents: Money market funds 8,305 $ 8,305 $ — $ — U.S. government and agency securities 16 16 — — Time deposits 156 — 156 — Corporate debt securities 28 — 28 — Total cash and cash equivalents 14,681 8,321 184 — Marketable securities: U.S. government securities 8,708 8,708 — — U.S. government agency securities 4,989 4,989 — — Corporate debt securities 12,335 — 12,335 — Marketable equity securities 25 25 — — Total marketable securities 26,057 13,722 12,335 — Restricted cash equivalents 583 583 — — Other assets 157 — — 157 Total $ 41,478 $ 22,626 $ 12,519 $ 157 Unrealized Losses on Marketable Debt Securities The following tables summarize our available-for-sale marketable debt securities with unrealized losses as of March 31, 2023 and December 31, 2022, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions): March 31, 2023 Less than 12 months 12 months or greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. government securities $ 2,338 $ (59) $ 6,061 $ (311) $ 8,399 $ (370) U.S. government agency securities 130 (2) 4,769 (260) 4,899 (262) Corporate debt securities 1,685 (25) 10,194 (735) 11,879 (760) Total $ 4,153 $ (86) $ 21,024 $ (1,306) $ 25,177 $ (1,392) December 31, 2022 Less than 12 months 12 months or greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. government securities $ 5,008 $ (234) $ 3,499 $ (247) $ 8,507 $ (481) U.S. government agency securities 524 (17) 4,415 (308) 4,939 (325) Corporate debt securities 4,555 (249) 7,256 (634) 11,811 (883) Total $ 10,087 $ (500) $ 15,170 $ (1,189) $ 25,257 $ (1,689) The decrease in the gross unrealized losses for the three months ended March 31, 2023 is due to changes in interest rates. The allowance for credit losses and the gross unrealized gains on our marketable debt securities were not material as of March 31, 2023 and December 31, 2022. Contractual Maturities The following table classifies our marketable debt securities by contractual maturities (in millions): March 31, 2023 Due within one year $ 5,163 Due after one year to five years 20,725 Total $ 25,888 Instruments Measured at Fair Value on Non-recurring Basis Our non-marketable equity securities accounted for using the measurement alternative are measured at fair value on a non-recurring basis and are classified within Level 3 of the fair value hierarchy because we use significant unobservable inputs to estimate their fair value. Assets remeasured at fair value on a non-recurring basis within Level 3 during the three months ended March 31, 2023 and 2022 were $119 million and immaterial, respectively. For additional information, see Note 6 — Non-marketable Equity Securities.

Non-marketable Equity Securitie

Non-marketable Equity Securities	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Non-marketable Equity Securities	Non-marketable Equity Securities Our non-marketable equity securities are investments in privately-held companies without readily determinable fair values. The following table summarizes our non-marketable equity securities that were measured using measurement alternative and equity method (in millions): March 31, 2023 December 31, 2022 Non-marketable equity securities under measurement alternative: Initial cost $ 6,388 $ 6,388 Cumulative upward adjustments 293 293 Cumulative impairment/downward adjustments (532) (497) Carrying value 6,149 6,184 Non-marketable equity securities under equity method 18 17 Total $ 6,167 $ 6,201

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net consists of the following (in millions): March 31, 2023 December 31, 2022 Land $ 1,874 $ 1,874 Servers and network assets 37,282 34,330 Buildings 30,882 27,720 Leasehold improvements 6,654 6,522 Equipment and other 5,831 5,642 Finance lease right-of-use assets 3,573 3,353 Construction in progress 25,039 25,052 Property and equipment, gross 111,135 104,493 Less: Accumulated depreciation (26,979) (24,975) Property and equipment, net $ 84,156 $ 79,518 Construction in progress includes costs mostly related to construction of data centers, network infrastructure, servers, and office facilities. As of March 31, 2023, construction in progress also includes $1.64 billion of servers and network assets components stored by our suppliers until required by our design manufacturers to fulfill certain purchase orders. Depreciation expense on property and equipment was $2.48 billion and $2.12 billion for the three months ended March 31, 2023 and 2022, respectively. The majority of the property and equipment depreciation expense was from servers and network assets depreciation of $1.51 billion and $1.36 billion for the three months ended March 31, 2023 and 2022, respectively. During the three months ended March 31, 2023, we capitalized $53 million of interest expense related to certain eligible construction in progress assets.

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	Leases We have entered into various non-cancelable operating lease agreements mostly for certain of our offices, data centers, colocations, and land. We have also entered into various non-cancelable finance lease agreements for certain network infrastructure. Our leases have original lease periods expiring between the remainder of 2023 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 March 31, 2023 2022 Finance lease cost: Amortization of right-of-use assets $ 104 $ 98 Interest 5 4 Operating lease cost 557 411 Variable lease cost and other, net 124 90 Total lease cost $ 790 $ 603 During the three months ended March 31, 2023, we also recorded a $673 million impairment loss for operating lease right-of-use assets as a part of our facilities consolidation restructuring efforts. For additional information, see Note 3 — Restructuring. Supplemental balance sheet information related to lease liabilities is as follows: March 31, 2023 December 31, 2022 Weighted-average remaining lease term: Finance leases 14.3 years 14.4 years Operating leases 12.2 years 12.5 years Weighted-average discount rate: Finance leases 3.2 % 3.1 % Operating leases 3.3 % 3.2 % The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2023 (in millions): Operating Leases Finance Leases The remainder of 2023 $ 1,362 $ 115 2024 2,208 60 2025 2,049 60 2026 1,859 56 2027 1,834 54 Thereafter 12,729 491 Total undiscounted cash flows 22,041 836 Less: Imputed interest (4,391) (149) Present value of lease liabilities (1) $ 17,650 $ 687 Lease liabilities, current $ 1,479 $ 114 Lease liabilities, non-current 16,171 573 Present value of lease liabilities (1) $ 17,650 $ 687 ____________________________________ (1) Lease liabilities include those operating leases that we plan to sublease or abandon as a part of our facilities consolidation restructuring efforts. For additional information, see Note 3 — Restructuring. The table above does not include lease payments that were not fixed at commencement or lease modification. As of March 31, 2023, we have additional operating and finance leases, that have not yet commenced, with lease obligations of approximately $10.26 billion and $1.33 billion, respectively, for data centers, colocations, offices, and network infrastructure. These operating and finance leases will commence between the remainder of 2023 and 2028 with lease terms of greater than one year to 30 years. Supplemental cash flow information related to leases is as follows (in millions): Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 478 $ 389 Operating cash flows for finance leases $ 5 $ 4 Financing cash flows for finance leases $ 264 $ 233 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 1,282 $ 539 Finance leases $ 70 $ 52
Leases	Leases We have entered into various non-cancelable operating lease agreements mostly for certain of our offices, data centers, colocations, and land. We have also entered into various non-cancelable finance lease agreements for certain network infrastructure. Our leases have original lease periods expiring between the remainder of 2023 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 March 31, 2023 2022 Finance lease cost: Amortization of right-of-use assets $ 104 $ 98 Interest 5 4 Operating lease cost 557 411 Variable lease cost and other, net 124 90 Total lease cost $ 790 $ 603 During the three months ended March 31, 2023, we also recorded a $673 million impairment loss for operating lease right-of-use assets as a part of our facilities consolidation restructuring efforts. For additional information, see Note 3 — Restructuring. Supplemental balance sheet information related to lease liabilities is as follows: March 31, 2023 December 31, 2022 Weighted-average remaining lease term: Finance leases 14.3 years 14.4 years Operating leases 12.2 years 12.5 years Weighted-average discount rate: Finance leases 3.2 % 3.1 % Operating leases 3.3 % 3.2 % The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2023 (in millions): Operating Leases Finance Leases The remainder of 2023 $ 1,362 $ 115 2024 2,208 60 2025 2,049 60 2026 1,859 56 2027 1,834 54 Thereafter 12,729 491 Total undiscounted cash flows 22,041 836 Less: Imputed interest (4,391) (149) Present value of lease liabilities (1) $ 17,650 $ 687 Lease liabilities, current $ 1,479 $ 114 Lease liabilities, non-current 16,171 573 Present value of lease liabilities (1) $ 17,650 $ 687 ____________________________________ (1) Lease liabilities include those operating leases that we plan to sublease or abandon as a part of our facilities consolidation restructuring efforts. For additional information, see Note 3 — Restructuring. The table above does not include lease payments that were not fixed at commencement or lease modification. As of March 31, 2023, we have additional operating and finance leases, that have not yet commenced, with lease obligations of approximately $10.26 billion and $1.33 billion, respectively, for data centers, colocations, offices, and network infrastructure. These operating and finance leases will commence between the remainder of 2023 and 2028 with lease terms of greater than one year to 30 years. Supplemental cash flow information related to leases is as follows (in millions): Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 478 $ 389 Operating cash flows for finance leases $ 5 $ 4 Financing cash flows for finance leases $ 264 $ 233 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 1,282 $ 539 Finance leases $ 70 $ 52

Acquisitions, Goodwill, and Int

Acquisitions, Goodwill, and Intangible Assets	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisitions, Goodwill, and Intangible Assets	Acquisitions, Goodwill, and Intangible AssetsDuring the three months ended March 31, 2023, we completed a business acquisition with total purchase consideration of $430 million in cash. Substantially all of the total consideration was allocated to $88 million of intangible assets and $343 million of goodwill. Goodwill generated from the business acquisition completed was primarily attributable to expected synergies and potential monetization opportunities. The amount of goodwill generated that was deductible for tax purposes was not material. Acquisition-related costs were immaterial and were expensed as incurred. Pro forma historical results of operations related to this business acquisition have not been presented because they are not significant to our condensed consolidated financial statements. We have included the financial results of this acquired business in our condensed consolidated financial statements from the date of acquisition. Changes in the carrying amount of goodwill by reportable segment for the three months ended March 31, 2023 are as follows (in millions): Family of Apps Reality Labs Total Goodwill at December 31, 2022 $ 19,250 $ 1,056 $ 20,306 Acquisitions — 343 343 Goodwill at March 31, 2023 $ 19,250 $ 1,399 $ 20,649 The following table sets forth the major categories of the intangible assets and their weighted‑average remaining useful lives (in millions): March 31, 2023 December 31, 2022 Weighted-Average Remaining Useful Lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired technology 5.0 $ 513 $ (154) $ 359 $ 507 $ (144) $ 363 Acquired patents 2.8 365 (284) 81 380 (289) 91 Other 1.9 60 (25) 35 86 (25) 61 Total finite-lived assets 938 (463) 475 973 (458) 515 Total indefinite-lived assets N/A 474 — 474 382 — 382 Total intangible assets $ 1,412 $ (463) $ 949 $ 1,355 $ (458) $ 897 Amortization expense of intangible assets was $47 million and $40 million for the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in millions): The remainder of 2023 $ 132 2024 132 2025 86 2026 41 2027 24 Thereafter 60 Total $ 475

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt In August 2022, we issued $10.0 billion of fixed-rate senior unsecured notes (the "Notes"). The following table summarizes the Notes and the carrying amount of our debt (in millions, except percentages): Maturity Stated Interest Rate Effective Interest Rate March 31, 2023 December 31, 2022 2027 Notes 2027 3.50% 3.63% $ 2,750 $ 2,750 2032 Notes 2032 3.85% 3.92% 3,000 3,000 2052 Notes 2052 4.45% 4.51% 2,750 2,750 2062 Notes 2062 4.65% 4.71% 1,500 1,500 Total face amount of long-term debt 10,000 10,000 Unamortized discount and issuance costs, net (75) (77) Long-term debt $ 9,925 $ 9,923 Each series of the Notes in the table above rank equally with each other. Interest on the Notes is payable semi-annually in arrears. We may redeem the Notes at any time, in whole or in part, at specified redemption prices. We are not subject to any financial covenants under the Notes. For the three months ended March 31, 2023, interest expense, net of capitalized interest, recognized on the debt was $49 million. The total estimated fair value of our outstanding debt was $9.19 billion as of March 31, 2023. The fair value was determined based on the closing trading price per $100 of the Notes as of March 31, 2023 and is categorized accordingly as Level 2 in the fair value hierarchy. As of March 31, 2023, future principal payments for the Notes, by year, are as follows (in millions): Remainder of 2023 through 2026 $ — 2027 2,750 Thereafter 7,250 Total outstanding debt $ 10,000

Liabilities

Liabilities	3 Months Ended
	Mar. 31, 2023
Accounts Payable and Accrued Liabilities [Abstract]
Liabilities	Liabilities The components of accrued expenses and other current liabilities are as follows (in millions): March 31, 2023 December 31, 2022 Legal-related accruals (1) $ 5,474 $ 4,795 Accrued compensation and benefits 3,392 4,591 Accrued property and equipment 2,561 2,921 Accrued taxes 3,589 2,339 Other current liabilities 4,329 4,906 Accrued expenses and other current liabilities $ 19,345 $ 19,552 ____________________________________ (1) Includes accruals for estimated fines, settlements, or other losses in connection with legal and related matters, as well as other legal fees. For further information, see Legal and Related Matters in Note 12 — Commitments and Contingencies. The components of other liabilities are as follows (in millions): March 31, 2023 December 31, 2022 Income tax payable $ 6,946 $ 6,645 Other non-current liabilities 1,273 1,119 Other liabilities $ 8,219 $ 7,764

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contractual Commitments We have $17.48 billion of non-cancelable contractual commitments as of March 31, 2023, which are primarily related to our investments in network infrastructure, servers, and consumer hardware products in Reality Labs. The following is a schedule, by years, of non-cancelable contractual commitments as of March 31, 2023 (in millions): The remainder of 2023 $ 10,745 2024 2,222 2025 1,500 2026 264 2027 210 Thereafter 2,536 Total $ 17,477 Additionally, as part of the normal course of business, we have entered into multi-year agreements to purchase renewable energy that do not specify a fixed or minimum volume commitment or to purchase certain server components that do not specify a fixed or minimum price commitment. We enter into these agreements in order to secure either volume or price. Using the projected market prices or expected volume consumption, the total estimated spend as of March 31, 2023 is approximately $12.22 billion, a majority of which is due beyond five years. The ultimate spend under these agreements may vary and will be based on prevailing market prices or actual volume purchased. Legal and Related Matters With respect to the cases, actions, and inquiries described below, 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 below 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. 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 14 — Income Taxes. Privacy and Related Matters Beginning on March 20, 2018, multiple putative class actions were filed in state and federal courts in the United States and elsewhere against us and certain of our directors and officers alleging various 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. With respect to the putative class actions alleging fraud and violations of consumer protection, privacy, and other laws in connection with the same matters, several of the cases brought on behalf of consumers in the United States were consolidated in the U.S. District Court for the Northern District of California. On September 9, 2019, the court granted, in part, and denied, in part, our motion to dismiss the consolidated putative consumer class action. On December 22, 2022, the parties entered into a settlement agreement to resolve the lawsuit, which provides for a payment of $725 million by us and is subject to court approval. 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, asserting 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 November 4, 2021, the lead plaintiffs filed a second amended and consolidated complaint in the stockholder derivative action. We believe the lawsuits described above are without merit, and we are vigorously defending them. We also notify the Irish Data Protection Commission (IDPC), our lead European Union privacy regulator under the General Data Protection Regulation (GDPR), of certain other personal data breaches and privacy issues, and are subject to inquiries and investigations by the IDPC and other European regulators regarding various aspects of our regulatory compliance. For example, we are currently subject to an IDPC inquiry regarding Meta Platforms Ireland's ability to transfer European Economic Area Facebook user data to the United States, which is described further in "Legal Proceedings" contained in Part II, Item 1 of this Quarterly Report on Form 10-Q. The interpretation of the GDPR is still evolving and draft decisions in investigations by the IDPC are subject to review by other European privacy regulators as part of the GDPR's cooperation and consistency mechanisms, which may lead to significant changes in the final outcome of such investigations. As a result, the interpretation and enforcement of the GDPR, as well as the imposition and amount of penalties for non-compliance, are subject to significant uncertainty. Although we are vigorously defending our regulatory compliance, we have accrued significant amounts for loss contingencies related to these inquiries and investigations in Europe, and we believe there is a reasonable possibility that additional accruals for losses related to these matters could be material individually or in the aggregate. On February 14, 2022, the State of Texas filed a lawsuit against us in Texas state court alleging that "tag suggestions" and other uses of facial recognition technology violated the Texas Capture or Use of Biometric Identifiers Act and the Texas Deceptive Trade Practices-Consumer Protection Act, and seeking statutory damages and injunctive relief. The case is currently scheduled for trial in January 2024. We believe this lawsuit is without merit, and we are vigorously defending it. Beginning on June 7, 2021, multiple putative class actions were filed against us alleging that we improperly received individuals' information from third-party websites or apps via our business tools in violation of our terms and various state and federal laws and seeking unspecified damages and injunctive relief. We believe these lawsuits are without merit, and we are vigorously defending them. Competition 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 our 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. On July 28, 2021, the attorneys general filed a notice of appeal of the order dismissing their case and that appeal is now pending before the U.S. Court of Appeals for the District of Columbia Circuit. On August 19, 2021, the FTC filed an amended complaint, and on October 4, 2021, we filed a motion to dismiss this amended complaint. On January 11, 2022, the court denied our motion to dismiss the FTC's amended complaint. Multiple putative class actions have also been filed in state and federal courts in the United States and in the United Kingdom against us alleging violations of antitrust laws and other causes of action in connection with these acquisitions and/or other alleged anticompetitive conduct, and seeking damages and injunctive relief. Several of the cases brought on behalf of certain advertisers and users in the United States were consolidated in the U.S. District Court for the Northern District of California. On January 14, 2022, the court granted, in part, and denied, in part, our motion to dismiss the consolidated actions. On March 1, 2022, a first amended consolidated complaint was filed in the putative class action brought on behalf of certain advertisers. On December 6, 2022, the court denied our motion to dismiss the first amended consolidated complaint filed in the putative class action brought on behalf of certain advertisers. We believe these lawsuits are without merit, and we are vigorously defending them. In December 2022, the European Commission issued a Statement of Objections alleging that we tie Facebook Marketplace to Facebook and use data in a manner that infringes European Union competition rules. Securities and Other Actions 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. In a series of orders in 2019 and 2020, the district court granted our motions to dismiss the plaintiffs' claims. On January 17, 2022, the plaintiffs filed a notice of appeal of the order dismissing their case, and the appeal is now pending before the U.S. Court of Appeals for the Ninth Circuit. We believe the lawsuits described above are without merit, and we are vigorously defending them. Beginning on August 15, 2018, multiple putative class actions were filed against us alleging that we inflated our estimates of the potential audience size for advertisements, resulting in artificially increased demand and higher prices. The cases were consolidated in the U.S. District Court for the Northern District of California and seek unspecified damages and injunctive relief. In a series of rulings in 2019, 2021, and 2022, the court dismissed certain of the plaintiffs' claims, but permitted their fraud and unfair competition claims to proceed. On March 29, 2022, the court granted the plaintiffs' motion for class certification. On June 21, 2022, the U.S. Court of Appeals for the Ninth Circuit granted our petition for permission to appeal the district court's class certification order, and the district court subsequently stayed the case. We believe this lawsuit is without merit, and we are vigorously defending it. We are also subject to other government inquiries and investigations relating to our business activities and disclosure practices. For example, beginning in September 2021, we became subject to government investigations and requests relating to a former employee's allegations and release of internal company documents concerning, among other things, our algorithms, advertising and user metrics, and content enforcement practices, as well as misinformation and other undesirable activity on our platform, and user well-being. We have since received additional requests relating to these and other topics. Beginning on October 27, 2021, multiple putative class actions and derivative actions were filed in the U.S. District Court for the Northern District of California 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 the same matters, and seeking unspecified damages. We believe these lawsuits are without merit, and we are vigorously defending them. Beginning in January 2022, we became subject to litigation and other proceedings that were filed in various federal and state courts alleging that Facebook and Instagram cause "social media addiction" in teenage users, resulting in various mental health and other harms. A putative class action was also filed in U.S. state court on behalf of users under the age of 13, several class actions have been filed in Canada on behalf of Canadian users, and multiple school districts and one state in the U.S. have filed public nuisance claims based on similar allegations. On October 6, 2022, the federal cases were consolidated in the U.S. District Court for the Northern District of California. The California state court proceedings are now pending before a trial judge from Los Angeles County Superior Court. We believe these lawsuits are without merit, and we are vigorously defending them. We are also subject to government investigations and requests from multiple regulators concerning the use of our products, and the related mental and physical health and safety impacts on teenage users. On March 8, 2022, a putative class action was filed in the U.S. District Court for the Northern District of California 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 fourth quarter of 2021 and seeking unspecified damages. We believe this lawsuit is without merit, and we are vigorously defending it.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2023
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, 2022, $10.87 billion remained available and authorized for repurchases under this program. In January 2023, an additional $40 billion of repurchases was authorized under this program. During the three months ended March 31, 2023, we repurchased and subsequently retired 56 million shares of our Class A common stock for an aggregate amount of $9.22 billion, including $77 million related to the 1% excise tax on net share repurchases as a result of the Inflation Reduction Act of 2022. As of March 31, 2023, $41.73 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. 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 Plan We have one active share-based employee compensation plan, the 2012 Equity Incentive Plan (Amended 2012 Plan), which was amended in each of June 2016, February 2018, and December 2022. Our Amended 2012 Plan provides for the issuance of incentive and nonqualified 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 are added to the reserves of the 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. Pursuant to this automatic increase provision, our board of directors approved an increase of 56 million shares of Class A common stock reserved for issuance, effective January 1, 2023. In December 2022, our board of directors approved an amendment to our Amended 2012 Plan to increase the number of shares reserved for issuance under the Amended 2012 Plan by 425 million shares, effective March 1, 2023 (Plan Amendment). The Plan Amendment was also approved by holders of a majority of the voting power of our outstanding capital stock in December 2022. As of March 31, 2023, there were 458 million shares of our Class A common stock reserved for future issuance under our Amended 2012 Plan. The following table summarizes our share-based compensation expense, which consists of the company's RSU expense, by line item in our condensed consolidated statements of income (in millions): Three Months Ended March 31, 2023 2022 Cost of revenue $ 160 $ 160 Research and development 2,449 1,941 Marketing and sales 219 216 General and administrative 223 181 Total share-based compensation expense $ 3,051 $ 2,498 The following table summarizes the activities for our unvested RSUs for the three months ended March 31, 2023: Number of Shares Weighted-Average Grant Date Fair Value Per Share (in thousands) Unvested at December 31, 2022 127,110 $ 216.93 Granted 105,156 $ 196.27 Vested (13,612) $ 211.80 Forfeited (3,262) $ 229.43 Unvested at March 31, 2023 215,392 $ 206.98 The fair value as of the respective vesting dates of RSUs that vested during the three months ended March 31, 2023 and 2022 was $2.44 billion and $2.43 billion, respectively. The income tax benefit recognized related to awards vested during the three months ended March 31, 2023 and 2022 was $519 million and $514 million, respectively. As of March 31, 2023, there was $42.84 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. As a result of the 2023 Restructuring related to employees notified in April 2023, approximately 8 million of unvested RSUs as of March 31, 2023, are expected to be forfeited, and $1.57 billion of unrecognized share-based compensation expense related to these RSUs awards is not expected to be recognized.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
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 $10.93 billion and $10.76 billion on March 31, 2023 and December 31, 2022, respectively. These unrecognized tax benefits were primarily accrued for the uncertainties related to transfer pricing with our foreign subsidiaries, which include licensing of intellectual property, providing services and other transactions, as well as for uncertainties with our research tax credits. If the gross unrecognized tax benefits as of March 31, 2023 were realized in a future period, this would result in a tax benefit of $6.62 billion within our provision for income taxes at such time. The amount of interest and penalties accrued was $1.18 billion and $1.07 billion as of March 31, 2023 and December 31, 2022, 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 2019 tax years. Our 2020 and subsequent tax years remain open to examination by the IRS and the Irish Revenue Commissioners. 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 p osition 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 the final trial session was completed in August 2022. We expect the Tax Court to issue an opinion in 2024. Based on t he 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 (ASC 740), 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 March 31, 2023, 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 tax 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.

Segment and Geographical Inform

Segment and Geographical Information	3 Months Ended
	Mar. 31, 2023
Segments, Geographical Areas [Abstract]
Segment and Geographical Information	Segment and Geographical Information We report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes augmented and virtual reality related consumer hardware, software, and content. Our operating segments are the same as our reportable segments. Revenue and costs and expenses are generally directly attributed to our segments. These costs and expenses include certain product development related operating expenses, costs associated with partnership arrangements, consumer hardware product costs, content costs, and legal-related costs. Indirect costs are allocated to segments based on a reasonable allocation methodology, when such costs are significant to the performance measures of the operating segments. Indirect cost of revenue is allocated to our segments based on usage, such as costs related to the operation of our data centers and technical infrastructure. Indirect operating expenses, such as facilities, information technology, certain shared research and development activities, recruiting, and physical security expenses, are mostly allocated based on headcount. The following table sets forth our segment information of revenue and income (loss) from operations (in millions) : Three Months Ended March 31, 2023 2022 Revenue: Family of Apps $ 28,306 $ 27,213 Reality Labs 339 695 Total revenue $ 28,645 $ 27,908 Income (loss) from operations: Family of Apps $ 11,219 $ 11,484 Reality Labs (3,992) (2,960) Total income from operations $ 7,227 $ 8,524 For information regarding revenue disaggregated by geography, see Note 2 — Revenue . 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 (in millions): March 31, 2023 December 31, 2022 United States $ 80,214 $ 76,334 Rest of the world (1) 16,841 15,857 Total long-lived assets $ 97,055 $ 92,191 ____________________________________ (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)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated fi nancial 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, 2022. The condensed consolidated balance sheet as of December 31, 2022 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 Meta Platforms, 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, 2023.
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 non-marketable equity securities, income taxes, loss contingencies, including the ultimate resolution of litigation, regulatory matters, and asserted and unasserted claims, valuation of long-lived assets including goodwill, intangible assets, and property and equipment, and their associated estimated useful lives, valuation of purchase commitments, credit losses of available-for-sale debt securities and accounts receivable, fair value of financial instruments, and fair value of leases. These estimates are based on management's knowledge about current events, interpretation of regulations, and expectations about actions we may undertake in the future. Actual results could differ materially from those estimates.
Significant Accounting Policies	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, 2022.
Earnings Per Share	We compute earnings per share (EPS) of Class A and Class B common stock using the two-class method. As the liquidation and dividend rights for both Class A and Class B common stock are identical, the undistributed earnings are allocated on a proportionate basis to the weighted-average number of common shares outstanding for the period. 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, including awards under our equity compensation plan. 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 is computed by dividing the resulting net income by the weighted-average number of fully diluted common shares outstanding.
Segment Reporting	We report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes augmented and virtual reality related consumer hardware, software, and content. Our operating segments are the same as our reportable segments. Revenue and costs and expenses are generally directly attributed to our segments. These costs and expenses include certain product development related operating expenses, costs associated with partnership arrangements, consumer hardware product costs, content costs, and legal-related costs. Indirect costs are allocated to segments based on a reasonable allocation methodology, when such costs are significant to the performance measures of the operating segments. Indirect cost of revenue is allocated to our segments based on usage, such as costs related to the operation of our data centers and technical infrastructure. Indirect operating expenses, such as facilities, information technology, certain shared research and development activities, recruiting, and physical security expenses, are mostly allocated based on headcount.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenue disaggregated by revenue source and by segment consists of the following (in millions): Three Months Ended March 31, 2023 2022 Advertising $ 28,101 $ 26,998 Other revenue 205 215 Family of Apps 28,306 27,213 Reality Labs 339 695 Total revenue $ 28,645 $ 27,908 Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions): Three Months Ended March 31, 2023 2022 United States and Canada (1) $ 11,449 $ 11,780 Europe (2) 6,759 6,638 Asia-Pacific 7,292 6,722 Rest of World (2) 3,145 2,768 Total revenue $ 28,645 $ 27,908 ____________________________________ (1) United States revenue was $10.79 billion and $11.10 billion for the three months ended March 31, 2023 and 2022, respectively. (2) Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East.

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2023
2023 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs	A summary of our 2023 Restructuring pre-tax charges recorded for severance and related personnel costs in the three months ended March 31, 2023 is as follows (in millions) : Three Months Ended March 31, 2023 Research and development $ 324 Marketing and sales 5 General and administrative 194 Total (1) $ 523 ____________________________ (1) Total severance and related personnel costs i nclude $61 million of share-based compensation expense recognized for the 2023 layoffs.
2023 Restructuring | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	The following is a summary of changes in the accrued severance and other personnel liabilities related to 2023 layoff activities, included within accrued expenses and other current liabilities on the condensed consolidated balance sheets (in millions): Severance Liabilities Balance as of January 1, 2023 $ — Severance and other personnel costs 462 Cash payments (9) Balance as of March 31, 2023 $ 453
2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs	A summary of our 2022 Restructuring pre-tax charges, including subsequent adjustments, is as follows (in millions) : 2022 Three Months Ended March 31, 2023 Plan to Date Facilities Consolidation Severance and Other Personnel Costs Data Center Assets Total Facilities Consolidation Severance and Other Personnel Costs Data Center Assets (1) Total Total Cost of revenue $ 154 $ — $ 1,341 $ 1,495 $ 58 $ — $ (168) $ (110) $ 1,385 Research and development 1,311 408 — 1,719 484 (4) — 480 2,199 Marketing and sales 404 234 — 638 136 (2) — 134 772 General and administrative 426 333 — 759 129 (12) — 117 876 Total $ 2,295 $ 975 $ 1,341 $ 4,611 $ 807 $ (18) $ (168) $ 621 $ 5,232 ____________________________________ (1) Relates to a change in estimates in our data center restructuring charges recorded during the three months ended December 31, 2022.
2022 Restructuring | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	The following is a summary of changes in the severance and other personnel liabilities related to the 2022 layoff activities, included within accrued expenses and other current liabilities on the condensed consolidated balance sheets (in millions): Severance Liabilities Balance as of January 1, 2022 $ — Severance and other personnel costs 975 Cash payments (203) Balance as of December 31, 2022 772 Adjustments and foreign exchange (27) Cash payments (675) Balance as of March 31, 2023 $ 70

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 2022 Class A Class B Class A Class B Basic EPS: Numerator Net income $ 4,905 $ 804 $ 6,334 $ 1,131 Denominator Shares used in computation of basic earnings per share 2,223 364 2,312 413 Basic EPS $ 2.21 $ 2.21 $ 2.74 $ 2.74 Diluted EPS: Numerator Net income $ 4,905 $ 804 $ 6,334 $ 1,131 Reallocation of net income as a result of conversion of Class B to Class A common stock 804 — 1,131 — Reallocation of net income to Class B common stock — (3) — (7) Net income for diluted EPS $ 5,709 $ 801 $ 7,465 $ 1,124 Denominator Shares used in computation of basic earnings per share 2,223 364 2,312 413 Conversion of Class B to Class A common stock 364 — 413 — Weighted-average effect of dilutive RSUs 9 — 17 — Shares used in computation of diluted earnings per share 2,596 364 2,742 413 Diluted EPS $ 2.20 $ 2.20 $ 2.72 $ 2.72

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Financial Instruments [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following tables summarize our assets measured at fair value on a recurring basis and the classification by level of input within the fair value hierarchy (in millions): Fair Value Measurement at Reporting Date Using Description March 31, 2023 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash $ 5,680 Cash equivalents: Money market funds 5,384 $ 5,384 $ — $ — U.S. government and agency securities 50 50 — — Time deposits 424 — 424 — Corporate debt securities 13 — 13 — Total cash and cash equivalents 11,551 5,434 437 — Marketable securities: U.S. government securities 8,706 8,706 — — U.S. government agency securities 4,997 4,997 — — Corporate debt securities 12,185 — 12,185 — Total marketable securities 25,888 13,703 12,185 — Restricted cash equivalents 579 579 — — Other assets 93 — — 93 Total $ 38,111 $ 19,716 $ 12,622 $ 93 Fair Value Measurement at Reporting Date Using Description December 31, 2022 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash $ 6,176 Cash equivalents: Money market funds 8,305 $ 8,305 $ — $ — U.S. government and agency securities 16 16 — — Time deposits 156 — 156 — Corporate debt securities 28 — 28 — Total cash and cash equivalents 14,681 8,321 184 — Marketable securities: U.S. government securities 8,708 8,708 — — U.S. government agency securities 4,989 4,989 — — Corporate debt securities 12,335 — 12,335 — Marketable equity securities 25 25 — — Total marketable securities 26,057 13,722 12,335 — Restricted cash equivalents 583 583 — — Other assets 157 — — 157 Total $ 41,478 $ 22,626 $ 12,519 $ 157
Available-for-sale Marketable Securities	The following tables summarize our available-for-sale marketable debt securities with unrealized losses as of March 31, 2023 and December 31, 2022, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions): March 31, 2023 Less than 12 months 12 months or greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. government securities $ 2,338 $ (59) $ 6,061 $ (311) $ 8,399 $ (370) U.S. government agency securities 130 (2) 4,769 (260) 4,899 (262) Corporate debt securities 1,685 (25) 10,194 (735) 11,879 (760) Total $ 4,153 $ (86) $ 21,024 $ (1,306) $ 25,177 $ (1,392) December 31, 2022 Less than 12 months 12 months or greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. government securities $ 5,008 $ (234) $ 3,499 $ (247) $ 8,507 $ (481) U.S. government agency securities 524 (17) 4,415 (308) 4,939 (325) Corporate debt securities 4,555 (249) 7,256 (634) 11,811 (883) Total $ 10,087 $ (500) $ 15,170 $ (1,189) $ 25,257 $ (1,689)
Marketable Securities by Contractual Maturities	The following table classifies our marketable debt securities by contractual maturities (in millions): March 31, 2023 Due within one year $ 5,163 Due after one year to five years 20,725 Total $ 25,888

Non-marketable Equity Securit_2

Non-marketable Equity Securities (Tables)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Carrying Value of Nonmarketable Equity Securities	The following table summarizes our non-marketable equity securities that were measured using measurement alternative and equity method (in millions): March 31, 2023 December 31, 2022 Non-marketable equity securities under measurement alternative: Initial cost $ 6,388 $ 6,388 Cumulative upward adjustments 293 293 Cumulative impairment/downward adjustments (532) (497) Carrying value 6,149 6,184 Non-marketable equity securities under equity method 18 17 Total $ 6,167 $ 6,201

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment, net consists of the following (in millions): March 31, 2023 December 31, 2022 Land $ 1,874 $ 1,874 Servers and network assets 37,282 34,330 Buildings 30,882 27,720 Leasehold improvements 6,654 6,522 Equipment and other 5,831 5,642 Finance lease right-of-use assets 3,573 3,353 Construction in progress 25,039 25,052 Property and equipment, gross 111,135 104,493 Less: Accumulated depreciation (26,979) (24,975) Property and equipment, net $ 84,156 $ 79,518

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Components of Lease Costs	The components of lease costs are as follows (in millions): Three Months Ended March 31, 2023 2022 Finance lease cost: Amortization of right-of-use assets $ 104 $ 98 Interest 5 4 Operating lease cost 557 411 Variable lease cost and other, net 124 90 Total lease cost $ 790 $ 603
Lease, Balance Sheet Information	Supplemental balance sheet information related to lease liabilities is as follows: March 31, 2023 December 31, 2022 Weighted-average remaining lease term: Finance leases 14.3 years 14.4 years Operating leases 12.2 years 12.5 years Weighted-average discount rate: Finance leases 3.2 % 3.1 % Operating leases 3.3 % 3.2 %
Finance Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2023 (in millions): Operating Leases Finance Leases The remainder of 2023 $ 1,362 $ 115 2024 2,208 60 2025 2,049 60 2026 1,859 56 2027 1,834 54 Thereafter 12,729 491 Total undiscounted cash flows 22,041 836 Less: Imputed interest (4,391) (149) Present value of lease liabilities (1) $ 17,650 $ 687 Lease liabilities, current $ 1,479 $ 114 Lease liabilities, non-current 16,171 573 Present value of lease liabilities (1) $ 17,650 $ 687 ____________________________________ (1) Lease liabilities include those operating leases that we plan to sublease or abandon as a part of our facilities consolidation restructuring efforts. For additional information, see Note 3 — Restructuring.
Operating Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2023 (in millions): Operating Leases Finance Leases The remainder of 2023 $ 1,362 $ 115 2024 2,208 60 2025 2,049 60 2026 1,859 56 2027 1,834 54 Thereafter 12,729 491 Total undiscounted cash flows 22,041 836 Less: Imputed interest (4,391) (149) Present value of lease liabilities (1) $ 17,650 $ 687 Lease liabilities, current $ 1,479 $ 114 Lease liabilities, non-current 16,171 573 Present value of lease liabilities (1) $ 17,650 $ 687 ____________________________________ (1) Lease liabilities include those operating leases that we plan to sublease or abandon as a part of our facilities consolidation restructuring efforts. For additional information, see Note 3 — Restructuring.
Lease, Cash Flow Information	Supplemental cash flow information related to leases is as follows (in millions): Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 478 $ 389 Operating cash flows for finance leases $ 5 $ 4 Financing cash flows for finance leases $ 264 $ 233 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 1,282 $ 539 Finance leases $ 70 $ 52

Acquisitions, Goodwill, and I_2

Acquisitions, Goodwill, and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill by reportable segment for the three months ended March 31, 2023 are as follows (in millions): Family of Apps Reality Labs Total Goodwill at December 31, 2022 $ 19,250 $ 1,056 $ 20,306 Acquisitions — 343 343 Goodwill at March 31, 2023 $ 19,250 $ 1,399 $ 20,649
Schedule of Finite-lived and Indefinite Lived Intangible Assets	The following table sets forth the major categories of the intangible assets and their weighted‑average remaining useful lives (in millions): March 31, 2023 December 31, 2022 Weighted-Average Remaining Useful Lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired technology 5.0 $ 513 $ (154) $ 359 $ 507 $ (144) $ 363 Acquired patents 2.8 365 (284) 81 380 (289) 91 Other 1.9 60 (25) 35 86 (25) 61 Total finite-lived assets 938 (463) 475 973 (458) 515 Total indefinite-lived assets N/A 474 — 474 382 — 382 Total intangible assets $ 1,412 $ (463) $ 949 $ 1,355 $ (458) $ 897
Expected Amortization Expense for Unamortized Acquired Intangible Assets	As of March 31, 2023, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in millions): The remainder of 2023 $ 132 2024 132 2025 86 2026 41 2027 24 Thereafter 60 Total $ 475

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	The following table summarizes the Notes and the carrying amount of our debt (in millions, except percentages): Maturity Stated Interest Rate Effective Interest Rate March 31, 2023 December 31, 2022 2027 Notes 2027 3.50% 3.63% $ 2,750 $ 2,750 2032 Notes 2032 3.85% 3.92% 3,000 3,000 2052 Notes 2052 4.45% 4.51% 2,750 2,750 2062 Notes 2062 4.65% 4.71% 1,500 1,500 Total face amount of long-term debt 10,000 10,000 Unamortized discount and issuance costs, net (75) (77) Long-term debt $ 9,925 $ 9,923
Schedule of Maturities of Long-Term Debt	As of March 31, 2023, future principal payments for the Notes, by year, are as follows (in millions): Remainder of 2023 through 2026 $ — 2027 2,750 Thereafter 7,250 Total outstanding debt $ 10,000

Liabilities (Tables)

Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	The components of accrued expenses and other current liabilities are as follows (in millions): March 31, 2023 December 31, 2022 Legal-related accruals (1) $ 5,474 $ 4,795 Accrued compensation and benefits 3,392 4,591 Accrued property and equipment 2,561 2,921 Accrued taxes 3,589 2,339 Other current liabilities 4,329 4,906 Accrued expenses and other current liabilities $ 19,345 $ 19,552 ____________________________________ (1) Includes accruals for estimated fines, settlements, or other losses in connection with legal and related matters, as well as other legal fees. For further information, see Legal and Related Matters in Note 12 — Commitments and Contingencies.
Other Noncurrent Liabilities	The components of other liabilities are as follows (in millions): March 31, 2023 December 31, 2022 Income tax payable $ 6,946 $ 6,645 Other non-current liabilities 1,273 1,119 Other liabilities $ 8,219 $ 7,764

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contractual Commitments	The following is a schedule, by years, of non-cancelable contractual commitments as of March 31, 2023 (in millions): The remainder of 2023 $ 10,745 2024 2,222 2025 1,500 2026 264 2027 210 Thereafter 2,536 Total $ 17,477

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount	The following table summarizes our share-based compensation expense, which consists of the company's RSU expense, by line item in our condensed consolidated statements of income (in millions): Three Months Ended March 31, 2023 2022 Cost of revenue $ 160 $ 160 Research and development 2,449 1,941 Marketing and sales 219 216 General and administrative 223 181 Total share-based compensation expense $ 3,051 $ 2,498
Restricted Stock Units Award Activity	The following table summarizes the activities for our unvested RSUs for the three months ended March 31, 2023: Number of Shares Weighted-Average Grant Date Fair Value Per Share (in thousands) Unvested at December 31, 2022 127,110 $ 216.93 Granted 105,156 $ 196.27 Vested (13,612) $ 211.80 Forfeited (3,262) $ 229.43 Unvested at March 31, 2023 215,392 $ 206.98

Segment and Geographical Info_2

Segment and Geographical Information (Tables)	3 Months Ended
	Mar. 31, 2023
Segments, Geographical Areas [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table sets forth our segment information of revenue and income (loss) from operations (in millions) : Three Months Ended March 31, 2023 2022 Revenue: Family of Apps $ 28,306 $ 27,213 Reality Labs 339 695 Total revenue $ 28,645 $ 27,908 Income (loss) from operations: Family of Apps $ 11,219 $ 11,484 Reality Labs (3,992) (2,960) Total income from operations $ 7,227 $ 8,524
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 (in millions): March 31, 2023 December 31, 2022 United States $ 80,214 $ 76,334 Rest of the world (1) 16,841 15,857 Total long-lived assets $ 97,055 $ 92,191 ____________________________________ (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
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue:	$ 28,645	$ 27,908
United States and Canada
Disaggregation of Revenue [Line Items]
Revenue:	11,449	11,780
Europe
Disaggregation of Revenue [Line Items]
Revenue:	6,759	6,638
Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue:	7,292	6,722
Rest of World
Disaggregation of Revenue [Line Items]
Revenue:	3,145	2,768
United States
Disaggregation of Revenue [Line Items]
Revenue:	10,790	11,100
Family of Apps
Disaggregation of Revenue [Line Items]
Revenue:	28,306	27,213
Reality Labs
Disaggregation of Revenue [Line Items]
Revenue:	339	695
Advertising | Family of Apps
Disaggregation of Revenue [Line Items]
Revenue:	28,101	26,998
Other revenue | Family of Apps
Disaggregation of Revenue [Line Items]
Revenue:	$ 205	$ 215

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Total deferred revenue balance	$ 492	$ 526
Deferred revenue, current	$ 460

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($) notice	Dec. 31, 2022 USD ($) employee
2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Expected number of positions eliminated | employee		11,000
Severance and other personnel costs	$ 621	$ 4,611
Plan to Date	5,232
2022 Restructuring | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	$ (18)	$ 975
2023 Restructuring
Restructuring Cost and Reserve [Line Items]
Expected number of positions eliminated | notice	10,000
2023 Restructuring | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	$ 523
Expected restructuring costs	1,000
Family of Apps | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Plan to Date	4,560
Family of Apps | 2023 Restructuring | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	468
Reality Labs | 2023 Restructuring | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	$ 55

Restructuring - Restructuring a

Restructuring - Restructuring and Related Costs (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Total share-based compensation expense	$ 3,051	$ 2,498
2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	621		$ 4,611
Plan to Date	5,232
Facilities Consolidation | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	807		2,295
Severance and Other Personnel Costs | 2023 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	523
Total share-based compensation expense	61
Severance and Other Personnel Costs | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	(18)		975
Data Center Assets | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	(168)		1,341
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Total share-based compensation expense	160	160
Cost of revenue | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	(110)		1,495
Plan to Date	1,385
Cost of revenue | Facilities Consolidation | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	58		154
Cost of revenue | Severance and Other Personnel Costs | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	0		0
Cost of revenue | Data Center Assets | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	(168)		1,341
Research and development
Restructuring Cost and Reserve [Line Items]
Total share-based compensation expense	2,449	1,941
Research and development | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	480		1,719
Plan to Date	2,199
Research and development | Facilities Consolidation | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	484		1,311
Research and development | Severance and Other Personnel Costs | 2023 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	324
Research and development | Severance and Other Personnel Costs | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	(4)		408
Research and development | Data Center Assets | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	0		0
Marketing and sales
Restructuring Cost and Reserve [Line Items]
Total share-based compensation expense	219	216
Marketing and sales | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	134		638
Plan to Date	772
Marketing and sales | Facilities Consolidation | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	136		404
Marketing and sales | Severance and Other Personnel Costs | 2023 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	5
Marketing and sales | Severance and Other Personnel Costs | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	(2)		234
Marketing and sales | Data Center Assets | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	0		0
General and administrative
Restructuring Cost and Reserve [Line Items]
Total share-based compensation expense	223	$ 181
General and administrative | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	117		759
Plan to Date	876
General and administrative | Facilities Consolidation | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	129		426
General and administrative | Severance and Other Personnel Costs | 2023 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	194
General and administrative | Severance and Other Personnel Costs | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	(12)		333
General and administrative | Data Center Assets | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Severance and other personnel costs	$ 0		$ 0

Restructuring - Changes in the

Restructuring - Changes in the Liabilities Related to Workforce Reduction (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
2022 Restructuring
Restructuring Reserve [Roll Forward]
Severance and other personnel costs	$ 621	$ 4,611
Severance and Other Personnel Costs | 2023 Restructuring
Restructuring Reserve [Roll Forward]
Beginning balance	0
Severance and other personnel costs, net	462
Severance and other personnel costs	523
Cash payments	(9)
Ending balance	453	0
Severance and Other Personnel Costs | 2022 Restructuring
Restructuring Reserve [Roll Forward]
Beginning balance	772	0
Severance and other personnel costs	(18)	975
Cash payments	(675)	(203)
Adjustments and foreign exchange	(27)
Ending balance	$ 70	$ 772

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Class A Common Stock | Restricted Stock Units (RSUs)
Earnings Per Share, Basic, by Common Class, Including Two Class Method
Shares excluded from EPS calc (in shares)	86	48

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
	Mar. 31, 2023	Mar. 31, 2022
Numerator
Net income	$ 5,709	$ 7,465
Denominator
Shares used in computation of basic earnings per share (in shares)	2,587	2,725
Basic EPS (in dollars per share)	$ 2.21	$ 2.74
Numerator
Net income	$ 5,709	$ 7,465
Denominator
Shares used in computation of basic earnings per share (in shares)	2,587	2,725
Number of shares used for diluted EPS computation (in shares)	2,596	2,742
Diluted EPS (in dollars per share)	$ 2.20	$ 2.72
Class A Common Stock
Numerator
Net income	$ 4,905	$ 6,334
Denominator
Shares used in computation of basic earnings per share (in shares)	2,223	2,312
Basic EPS (in dollars per share)	$ 2.21	$ 2.74
Numerator
Net income	$ 4,905	$ 6,334
Reallocation of net income as a result of conversion of Class B to Class A common stock	804	1,131
Reallocation of net income to Class B common stock	0	0
Net income for diluted EPS	$ 5,709	$ 7,465
Denominator
Shares used in computation of basic earnings per share (in shares)	2,223	2,312
Conversion of Class B to Class A common stock (in shares)	364	413
Weighted average effect of dilutive RSUs (in shares)	9	17
Number of shares used for diluted EPS computation (in shares)	2,596	2,742
Diluted EPS (in dollars per share)	$ 2.20	$ 2.72
Class B Common Stock
Numerator
Net income	$ 804	$ 1,131
Denominator
Shares used in computation of basic earnings per share (in shares)	364	413
Basic EPS (in dollars per share)	$ 2.21	$ 2.74
Numerator
Net income	$ 804	$ 1,131
Reallocation of net income as a result of conversion of Class B to Class A common stock	0	0
Reallocation of net income to Class B common stock	(3)	(7)
Net income for diluted EPS	$ 801	$ 1,124
Denominator
Shares used in computation of basic earnings per share (in shares)	364	413
Conversion of Class B to Class A common stock (in shares)	0	0
Weighted average effect of dilutive RSUs (in shares)	0	0
Number of shares used for diluted EPS computation (in shares)	364	413
Diluted EPS (in dollars per share)	$ 2.20	$ 2.72

Financial Instruments - Schedul

Financial Instruments - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	$ 11,551	$ 14,681
Marketable securities:	25,888
Marketable equity securities		25
Total marketable securities	25,888	26,057
Restricted cash equivalents	579	583
Other Assets, Fair Value Disclosure	93	157
Total	38,111	41,478
U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	8,706	8,708
U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	4,997	4,989
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	12,185	12,335
Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	5,680	6,176
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	5,384	8,305
U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	50	16
Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	424	156
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	13	28
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	5,434	8,321
Marketable equity securities		25
Total marketable securities	13,703	13,722
Restricted cash equivalents	579	583
Other Assets, Fair Value Disclosure	0	0
Total	19,716	22,626
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	8,706	8,708
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	4,997	4,989
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	5,384	8,305
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	50	16
Quoted Prices in Active Markets for Identical Assets (Level 1) | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	437	184
Marketable equity securities		0
Total marketable securities	12,185	12,335
Restricted cash equivalents	0	0
Other Assets, Fair Value Disclosure	0	0
Total	12,622	12,519
Significant Other Observable Inputs (Level 2) | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	0	0
Significant Other Observable Inputs (Level 2) | U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	0	0
Significant Other Observable Inputs (Level 2) | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	12,185	12,335
Significant Other Observable Inputs (Level 2) | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	0	0
Significant Other Observable Inputs (Level 2) | U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	0	0
Significant Other Observable Inputs (Level 2) | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	424	156
Significant Other Observable Inputs (Level 2) | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	13	28
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	0	0
Marketable equity securities		0
Total marketable securities	0	0
Restricted cash equivalents	0	0
Other Assets, Fair Value Disclosure	93	157
Total	93	157
Significant Unobservable Inputs (Level 3) | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	0	0
Significant Unobservable Inputs (Level 3) | U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	0	0
Significant Unobservable Inputs (Level 3) | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	0	0
Significant Unobservable Inputs (Level 3) | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	0	0
Significant Unobservable Inputs (Level 3) | U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	0	0
Significant Unobservable Inputs (Level 3) | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	0	0
Significant Unobservable Inputs (Level 3) | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	$ 0	$ 0

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Non-marketable equity securities	$ 6,167	$ 6,201
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Non-marketable equity securities	$ 119

Financial Instruments - Availab

Financial Instruments - Available-for-sale Marketable Securities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Marketable Securities [Line Items]
Less than 12 months, fair value	$ 4,153	$ 10,087
Less than 12 months, unrealized losses	(86)	(500)
12 months or greater, fair value	21,024	15,170
12 months or greater, unrealized losses	(1,306)	(1,189)
Fair value	25,177	25,257
Unrealized losses	(1,392)	(1,689)
U.S. government securities
Marketable Securities [Line Items]
Less than 12 months, fair value	2,338	5,008
Less than 12 months, unrealized losses	(59)	(234)
12 months or greater, fair value	6,061	3,499
12 months or greater, unrealized losses	(311)	(247)
Fair value	8,399	8,507
Unrealized losses	(370)	(481)
U.S. government and agency securities
Marketable Securities [Line Items]
Less than 12 months, fair value	130	524
Less than 12 months, unrealized losses	(2)	(17)
12 months or greater, fair value	4,769	4,415
12 months or greater, unrealized losses	(260)	(308)
Fair value	4,899	4,939
Unrealized losses	(262)	(325)
Corporate debt securities
Marketable Securities [Line Items]
Less than 12 months, fair value	1,685	4,555
Less than 12 months, unrealized losses	(25)	(249)
12 months or greater, fair value	10,194	7,256
12 months or greater, unrealized losses	(735)	(634)
Fair value	11,879	11,811
Unrealized losses	$ (760)	$ (883)

Financial Instruments - Contrac

Financial Instruments - Contractual Maturities of Marketable Debt Securities (Details) $ in Millions	Mar. 31, 2023 USD ($)
Contractual Maturities of Marketable Securities
Due within one year	$ 5,163
Due after one year to five years	20,725
Total	$ 25,888

Non-marketable Equity Securit_3

Non-marketable Equity Securities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Initial cost	$ 6,388	$ 6,388
Cumulative upward adjustments	293	293
Cumulative impairment/downward adjustments	(532)	(497)
Carrying value	6,149	6,184
Non-marketable equity securities under equity method	18	17
Total	$ 6,167	$ 6,201

Property and Equipment - Summar

Property and Equipment - Summary (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment
Finance lease right-of-use assets	$ 3,573	$ 3,353
Property and equipment, gross	111,135	104,493
Less: Accumulated depreciation	(26,979)	(24,975)
Property and equipment, net	84,156	79,518
Land
Property, Plant and Equipment
Property and equipment, gross	1,874	1,874
Servers and network assets
Property, Plant and Equipment
Property and equipment, gross	37,282	34,330
Buildings
Property, Plant and Equipment
Property and equipment, gross	30,882	27,720
Leasehold improvements
Property, Plant and Equipment
Property and equipment, gross	6,654	6,522
Equipment and other
Property, Plant and Equipment
Property and equipment, gross	5,831	5,642
Construction in progress
Property, Plant and Equipment
Property and equipment, gross	$ 25,039	$ 25,052

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property, Plant and Equipment
Depreciation	$ 2,480	$ 2,120
2022 Restructuring
Property, Plant and Equipment
Severance and other personnel costs	621		$ 4,611
Data Center Assets | 2022 Restructuring
Property, Plant and Equipment
Severance and other personnel costs	(168)		$ 1,341
Leasehold improvements | 2022 Restructuring
Property, Plant and Equipment
Severance and other personnel costs	97
Servers and network assets
Property, Plant and Equipment
Construction in progress	1,640
Depreciation	1,510	$ 1,360
Construction in progress
Property, Plant and Equipment
Interest costs capitalized	$ 53

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Finance lease cost:
Amortization of right-of-use assets	$ 104	$ 98
Interest	5	4
Operating lease cost	557	411
Variable lease cost and other, net	124	90
Total lease cost	$ 790	$ 603

Leases - Lease, Balance Sheet I

Leases - Lease, Balance Sheet Information (Details)	Mar. 31, 2023	Dec. 31, 2022
Weighted-average remaining lease term:
Finance leases (in years)	14 years 3 months 18 days	14 years 4 months 24 days
Operating leases (in years)	12 years 2 months 12 days	12 years 6 months
Weighted-average discount rate:
Finance leases	3.20%	3.10%
Operating leases	3.30%	3.20%

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Lessee, Operating Lease, Liability, to be Paid [Abstract]
The remainder of 2023	$ 1,362
2024	2,208
2025	2,049
2026	1,859
2027	1,834
Thereafter	12,729
Total undiscounted cash flows	22,041
Less: Imputed interest	(4,391)
Present value of lease liabilities	17,650
Operating lease liabilities, current	1,479	$ 1,367
Operating lease liabilities, non-current	16,171	$ 15,301
Finance Lease, Liability, to be Paid [Abstract]
The remainder of 2023	115
2024	60
2025	60
2026	56
2027	54
Thereafter	491
Total undiscounted cash flows	836
Less: Imputed interest	(149)
Present value of lease liabilities	687
Lease liabilities, current	114
Lease liabilities, non-current	$ 573
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease not yet commenced	$ 10,260
Finance lease not yet commenced	1,330
2022 Restructuring
Lessee, Lease, Description [Line Items]
Severance and other personnel costs	621	$ 4,611
Operating Lease, ROU Asset | 2022 Restructuring
Lessee, Lease, Description [Line Items]
Severance and other personnel costs	$ 673
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	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 478	$ 389
Operating cash flows for finance leases	5	4
Financing cash flows for finance leases	264	233
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	1,282	539
Finance leases	$ 70	$ 52

Acquisitions, Goodwill, and I_3

Acquisitions, Goodwill, and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 20,649		$ 20,306
Amortization expense	47	$ 40
2023 Business Acquisition
Business Acquisition [Line Items]
Consideration transferred	430
Intangible assets acquired	88
Goodwill	$ 343

Acquisitions, Goodwill, and I_4

Acquisitions, Goodwill, and Intangible Assets - Change in Carrying Amount of Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Goodwill, beginning balance	$ 20,306
Acquisitions	343
Goodwill, ending balance	20,649
Family of Apps
Segment Reporting Information [Line Items]
Goodwill, beginning balance	19,250
Acquisitions	0
Goodwill, ending balance	19,250
Reality Labs
Segment Reporting Information [Line Items]
Goodwill, beginning balance	1,056
Acquisitions	343
Goodwill, ending balance	$ 1,399

Acquisitions, Goodwill, and I_5

Acquisitions, Goodwill, and Intangible Assets - Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 938	$ 973
Accumulated Amortization	(463)	(458)
Net Carrying Amount	475	515
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Total indefinite-lived assets	474	382
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	1,412	1,355
Accumulated Amortization	(463)	(458)
Net Carrying Amount	$ 949	897
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)	5 years
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 513	507
Accumulated Amortization	(154)	(144)
Net Carrying Amount	359	363
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (154)	(144)
Acquired patents
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)	2 years 9 months 18 days
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 365	380
Accumulated Amortization	(284)	(289)
Net Carrying Amount	81	91
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (284)	(289)
Other
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)	1 year 10 months 24 days
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 60	86
Accumulated Amortization	(25)	(25)
Net Carrying Amount	35	61
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (25)	$ (25)

Acquisitions, Goodwill, and I_6

Acquisitions, Goodwill, and Intangible Assets - Estimated Amortization Expense (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
The remainder of 2023	$ 132
2024	132
2025	86
2026	41
2027	24
Thereafter	60
Net Carrying Amount	$ 475	$ 515

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Aug. 31, 2022
Debt Instrument
Interest expense, debt	$ 49
Senior Notes
Debt Instrument
Debt instrument, face amount		$ 10,000
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2) | Senior Notes
Debt Instrument
Long-term debt, fair value	$ 9,190

Long-term Debt - Schedule of Ca

Long-term Debt - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument
Total face amount of long-term debt	$ 10,000	$ 10,000
Unamortized discount and issuance costs, net	(75)	(77)
Long-term debt	$ 9,925	9,923
2027 Notes
Debt Instrument
Stated Interest Rate	3.50%
Effective Interest Rate	3.63%
Total face amount of long-term debt	$ 2,750	2,750
2032 Notes
Debt Instrument
Stated Interest Rate	3.85%
Effective Interest Rate	3.92%
Total face amount of long-term debt	$ 3,000	3,000
2052 Notes
Debt Instrument
Stated Interest Rate	4.45%
Effective Interest Rate	4.51%
Total face amount of long-term debt	$ 2,750	2,750
2062 Notes
Debt Instrument
Stated Interest Rate	4.65%
Effective Interest Rate	4.71%
Total face amount of long-term debt	$ 1,500	$ 1,500

Long-term Debt - Schedule of Ma

Long-term Debt - Schedule of Maturities of Long-Term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Maturities of Long-Term Debt [Abstract]
Remainder of 2023 through 2026	$ 0
2027	2,750
Thereafter	7,250
Total outstanding debt	$ 10,000	$ 10,000

Liabilities - Schedule of Accru

Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Legal-related accruals	$ 5,474	$ 4,795
Accrued compensation and benefits	3,392	4,591
Accrued property and equipment	2,561	2,921
Accrued taxes	3,589	2,339
Other current liabilities	4,329	4,906
Accrued expenses and other current liabilities	$ 19,345	$ 19,552

Liabilities - Schedule of Other

Liabilities - Schedule of Other Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Other Liabilities [Abstract]
Income tax payable	$ 6,946	$ 6,645
Other non-current liabilities	1,273	1,119
Other liabilities	$ 8,219	$ 7,764

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions			1 Months Ended	3 Months Ended
	Dec. 22, 2022 USD ($)	Jul. 27, 2018 classAction	Apr. 30, 2020 USD ($)	Mar. 31, 2023 USD ($)	Jan. 31, 2022 notice	Dec. 09, 2020 State
Loss Contingencies [Line Items]
Non-cancelable contractual obligations				$ 17,477
Total estimated spend, purchase commitment				$ 12,220
Commitment period				5 years
Number of class actions filed | classAction		2
Amount awarded to other party	$ 725
Number of states U.S attorney generals filed complaints from | State						46
Number of states that have filed public nuisance claims | notice					1
FTC Inquiry
Loss Contingencies [Line Items]
Payment of penalty for settlement			$ 5,000

Commitments and Contingencies_2

Commitments and Contingencies - Contractual Commitments (Details) $ in Millions	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
The remainder of 2023	$ 10,745
2024	2,222
2025	1,500
2026	264
2027	210
Thereafter	2,536
Total	$ 17,477

Stockholders' Equity - Share Re

Stockholders' Equity - Share Repurchase Program (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jan. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Remaining authorized repurchase amount	$ 41,730
Shares repurchased and retired	9,218	$ 9,386
Excise tax related to share repurchase	$ 77
January 2017 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award
Remaining authorized repurchase amount				$ 10,870
January 2023 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award
Share repurchase program, authorized amount			$ 40,000
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award
Shares repurchased and retired (in shares)	56
Shares repurchased and retired	$ 9,220

Stockholders' Equity - Share-ba

Stockholders' Equity - Share-based Compensation Plans (Detail) shares in Millions			3 Months Ended
	Mar. 01, 2023 shares	Jan. 01, 2023 shares	Mar. 31, 2023 plan shares
Share-based Compensation Arrangement by Share-based Payment Award
Share-based employee compensation plans, number | plan			1
Shares reserved for issuance (in shares)	425	56
Equity Incentive Plan 2012
Share-based Compensation Arrangement by Share-based Payment Award
Shares reserved for issuance increase, percentage			2.50%
Equity incentive plan shares authorized (in shares)			458

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Total share-based compensation expense	$ 3,051	$ 2,498
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award
Total share-based compensation expense	160	160
Research and development
Share-based Compensation Arrangement by Share-based Payment Award
Total share-based compensation expense	2,449	1,941
Marketing and sales
Share-based Compensation Arrangement by Share-based Payment Award
Total share-based compensation expense	219	216
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award
Total share-based compensation expense	$ 223	$ 181

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) shares in Thousands	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Shares
Unvested at beginning of period (in shares) | shares	127,110
Granted (in shares) | shares	105,156
Vested (in shares) | shares	(13,612)
Forfeited (in shares) | shares	(3,262)
Unvested at end of period (in shares) | shares	215,392
Weighted-Average Grant Date Fair Value Per Share
Unvested at beginning of period (in dollars per share) | $ / shares	$ 216.93
Granted (in dollars per share) | $ / shares	196.27
Vested (in dollars per share) | $ / shares	211.80
Forfeited (in dollars per share) | $ / shares	229.43
Unvested at end of period (in dollars per share) | $ / shares	$ 206.98

Stockholders' Equity - Addition

Stockholders' Equity - Additional Award Disclosures (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Apr. 19, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized share-based compensation expense	$ 42,840
Unrecognized share-based compensation expense recognition period (in years)	3 years
2023 Restructuring | Subsequent event
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized share-based compensation expense, not expected to be recognized			$ 1,570
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Fair value of vested RSUs	$ 2,440	$ 2,430
Tax benefit	$ 519	$ 514
Restricted Stock Units (RSUs) | 2023 Restructuring | Subsequent event
Share-based Compensation Arrangement by Share-based Payment Award
Awards expected to be forfeited (in shares)			8

Income Taxes (Details)

Income Taxes (Details) $ in Millions	1 Months Ended
	Mar. 31, 2018 USD ($) notice	Jul. 31, 2016 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Income Tax Contingency [Line Items]
Unrecognized tax benefits			$ 10,930	$ 10,760
Unrecognized tax benefits that would result in tax benefit if realized			6,620
Accrued interest and penalties			$ 1,180	$ 1,070
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

Segment and Geographical Info_3

Segment and Geographical Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2023 reportable_segment
Segments, Geographical Areas [Abstract]
Number of reportable segments (in segments)	2

Segment and Geographical Info_4

Segment and Geographical Information - Segment Information of Revenue and Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Revenue:	$ 28,645	$ 27,908
Income (loss) from operations:	7,227	8,524
Family of Apps
Segment Reporting Information [Line Items]
Revenue:	28,306	27,213
Income (loss) from operations:	11,219	11,484
Reality Labs
Segment Reporting Information [Line Items]
Revenue:	339	695
Income (loss) from operations:	$ (3,992)	$ (2,960)

Segment and Geographical Info_5

Segment and Geographical Information - Property and Equipment, Net (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Long-Lived Assets By Geographical Area
Total long-lived assets	$ 97,055	$ 92,191
United States
Long-Lived Assets By Geographical Area
Total long-lived assets	80,214	76,334
Rest of the world
Long-Lived Assets By Geographical Area
Total long-lived assets	$ 16,841	$ 15,857