Meta Platforms (META) 10-K 1 Feb 24 2023 FY Annual report Financial data

Cover page

Cover page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Jan. 26, 2024	Jun. 30, 2023
Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
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
Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 637
Documents Incorporated by Reference	Portions of the registrant's Proxy Statement for the 2024 Annual Meeting of Stockholders are incorporated herein by reference in Part III of this Annual Report on Form 10-K to the extent stated herein. Such proxy statement will be filed with the Securities and Exchange Commission within 120 days of the registrant's fiscal year ended December 31, 2023.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001326801
Class A
Entity Information
Entity Common Stock, Shares Outstanding		2,200,048,907
Class B
Entity Information
Entity Common Stock, Shares Outstanding		349,356,199

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Auditor [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	San Mateo, California

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 41,862	$ 14,681
Marketable securities	23,541	26,057
Accounts receivable, net	16,169	13,466
Prepaid expenses and other current assets	3,793	5,345
Total current assets	85,365	59,549
Non-marketable equity securities	6,141	6,201
Property and equipment, net	96,587	79,518
Operating lease right-of-use assets	13,294	12,673
Intangible assets, net	788	897
Goodwill	20,654	20,306
Other assets	6,794	6,583
Total assets	229,623	185,727
Current liabilities:
Accounts payable	4,849	4,990
Partners payable	863	1,117
Operating lease liabilities, current	1,623	1,367
Accrued expenses and other current liabilities	24,625	19,552
Total current liabilities	31,960	27,026
Operating lease liabilities, non-current	17,226	15,301
Long-term debt	18,385	9,923
Other liabilities	8,884	7,764
Total liabilities	76,455	60,014
Commitments and contingencies
Stockholders' equity:
Common stock, $0.000006 par value; 5,000 million Class A shares authorized, 2,211 million and 2,247 million shares issued and outstanding, as of December 31, 2023 and 2022, respectively; 4,141 million Class B shares authorized, 350 million and 367 million shares issued and outstanding, as of December 31, 2023 and 2022, respectively	0	0
Additional paid-in capital	73,253	64,444
Accumulated other comprehensive loss	(2,155)	(3,530)
Retained earnings	82,070	64,799
Total stockholders' equity	153,168	125,713
Total liabilities and stockholders' equity	$ 229,623	$ 185,727

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.000006	$ 0.000006
Class A
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.000006
Common stock, shares authorized (in shares)	5,000,000,000	5,000,000,000
Common stock, shares, issued (in shares)	2,211,000,000	2,247,000,000
Common stock, shares, outstanding (in shares)	2,211,000,000	2,247,000,000
Class B
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.000006
Common stock, shares authorized (in shares)	4,141,000,000	4,141,000,000
Common stock, shares, issued (in shares)	350,000,000	367,000,000
Common stock, shares, outstanding (in shares)	350,000,000	367,000,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenue	$ 134,902	$ 116,609	$ 117,929
Costs and expenses:
Cost of revenue	25,959	25,249	22,649
Research and development	38,483	35,338	24,655
Marketing and sales	12,301	15,262	14,043
General and administrative	11,408	11,816	9,829
Total costs and expenses	88,151	87,665	71,176
Income from operations	46,751	28,944	46,753
Interest and other income (expense), net	677	(125)	531
Income before provision for income taxes	47,428	28,819	47,284
Provision for income taxes	8,330	5,619	7,914
Net income	$ 39,098	$ 23,200	$ 39,370
Earnings per share attributable to Class A and Class B common stockholders:
Basic (in dollars per share)	$ 15.19	$ 8.63	$ 13.99
Diluted (in dollars per share)	$ 14.87	$ 8.59	$ 13.77
Weighted-average shares used to compute earnings per share attributable to Class A and Class B common stockholders:
Basic (in shares)	2,574	2,687	2,815
Diluted (in shares)	2,629	2,702	2,859

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 39,098	$ 23,200	$ 39,370
Other comprehensive income (loss):
Change in foreign currency translation adjustment, net of tax	618	(1,184)	(1,116)
Change in unrealized gain (loss) on available-for-sale investments and other, net of tax	757	(1,653)	(504)
Comprehensive income	$ 40,473	$ 20,363	$ 37,750

CONSOLIDATED STATEMENTS OF STOC

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
Balance at beginning of period (in shares) at Dec. 31, 2020		2,849
Balance at beginning of period at Dec. 31, 2020	$ 128,290	$ 0	$ 50,018	$ 927	$ 77,345
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		45
Shares withheld related to net share settlement (in shares)		(17)
Shares withheld related to net share settlement	(5,515)		(3,371)		(2,144)
Share-based compensation	9,164		9,164
Share repurchases (in shares)		(136)
Share repurchases	(44,810)				(44,810)
Other comprehensive income (loss)	(1,620)			(1,620)
Net income	39,370				39,370
Balance at end of period (in shares) at Dec. 31, 2021		2,741
Balance at end 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)		54
Shares withheld related to net share settlement (in shares)		(20)
Shares withheld related to net share settlement	(3,595)		(3,359)		(236)
Share-based compensation	11,992		11,992
Share repurchases (in shares)		(161)
Share repurchases	(27,926)				(27,926)
Other comprehensive income (loss)	(2,837)			(2,837)
Net income	23,200				23,200
Balance at end of period (in shares) at Dec. 31, 2022		2,614
Balance at end 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)		65
Shares withheld related to net share settlement (in shares)		(26)
Shares withheld related to net share settlement	(7,012)		(5,218)		(1,794)
Share-based compensation	14,027		14,027
Share repurchases (in shares)		(92)
Share repurchases	(20,033)				(20,033)
Other comprehensive income (loss)	1,375			1,375
Net income	39,098				39,098
Balance at end of period (in shares) at Dec. 31, 2023		2,561
Balance at end of period at Dec. 31, 2023	$ 153,168	$ 0	$ 73,253	$ (2,155)	$ 82,070

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net income	$ 39,098	$ 23,200	$ 39,370
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	11,178	8,686	7,967
Share-based compensation	14,027	11,992	9,164
Deferred income taxes	131	(3,286)	609
Impairment charges for facilities consolidation, net	2,432	2,218	0
Other	635	641	(127)
Changes in assets and liabilities:
Accounts receivable	(2,399)	231	(3,110)
Prepaid expenses and other current assets	559	162	(1,750)
Other assets	(80)	(106)	(349)
Accounts payable	51	210	1,436
Partners payable	(271)	90	(12)
Accrued expenses and other current liabilities	5,352	4,210	3,544
Other liabilities	624	886	941
Net cash provided by operating activities	71,113	50,475	57,683
Cash flows from investing activities
Purchases of property and equipment	(27,266)	(31,431)	(18,690)
Proceeds relating to property and equipment	221	245	123
Purchases of marketable debt securities	(2,982)	(9,626)	(30,407)
Sales and maturities of marketable debt securities	6,184	13,158	42,586
Acquisitions of businesses and intangible assets	(629)	(1,312)	(851)
Other investing activities	(23)	(4)	(331)
Net cash used in investing activities	(24,495)	(28,970)	(7,570)
Cash flows from financing activities
Taxes paid related to net share settlement of equity awards	(7,012)	(3,595)	(5,515)
Repurchases of Class A common stock	(19,774)	(27,956)	(44,537)
Proceeds from issuance of long-term debt, net	8,455	9,921	0
Principal payments on finance leases	(1,058)	(850)	(677)
Other financing activities	(111)	344	1
Net cash used in financing activities	(19,500)	(22,136)	(50,728)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	113	(638)	(474)
Net increase (decrease) in cash, cash equivalents, and restricted cash	27,231	(1,269)	(1,089)
Cash, cash equivalents, and restricted cash at beginning of the period	15,596	16,865	17,954
Cash, cash equivalents, and restricted cash at end of the period	42,827	15,596	16,865
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets
Cash and cash equivalents	41,862	14,681	16,601
Restricted cash and cash equivalents	965	915	264
Total cash, cash equivalents, and restricted cash	42,827	15,596	16,865
Supplemental cash flow data
Cash paid for income taxes, net	6,607	6,407	8,525
Cash paid for interest, net of amounts capitalized	448	0	0
Non-cash investing and financing activities:
Property and equipment in accounts payable and accrued expenses and other current liabilities	4,105	3,319	3,404
Acquisition of businesses in accrued expenses and other current liabilities and other liabilities	119	291	73
Other current assets through financing arrangement in accrued expenses and other current liabilities	15	16	508
Repurchases of Class A common stock in accrued expenses and other current liabilities	474	310	340
Restricted cash, included in prepaid expenses and other current assets
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets
Restricted cash and cash equivalents	99	294	149
Restricted cash, included in other assets
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets
Restricted cash and cash equivalents	866	621	115
Data Center Assets
Adjustments to reconcile net income to net cash provided by operating activities:
Restructuring charges	$ (224)	$ 1,341	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Organization and Description of Business We were incorporated in Delaware in July 2004. Our mission is to give people the power to build community and bring the world closer together. All of our products, including our apps, share the vision of helping to bring the metaverse to life. We report our financial results based on two reportable segments: Family of Apps (FoA) and Reality Labs (RL). The segment information aligns with how the chief operating decision maker (CODM), who is our chief executive officer (CEO), reviews and manages the business. We generate substantially all of our revenue from advertising. Basis of Presentation We prepared the consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP). The 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. Use of Estimates Preparation of consolidated financial statements in conformity with GAAP requires the use of estimates and judgments that affect the reported amounts in the 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 loss contingencies, income taxes, valuation of long-lived assets and their associated estimated useful lives, valuation of non-marketable equity securities, revenue recognition, valuation of goodwill, credit losses of available-for-sale (AFS) debt securities and accounts receivable, and fair value of financial instruments and 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. Revenue Recognition We recognize revenue under Accounting Standards Codification (ASC) 606 Revenue From Contracts With Customers . Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Sales commissions we pay in connection with contracts are expensed when incurred because the amortization period is one year or less. These costs are recorded within marketing and sales on our consolidated statements of income. We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. Revenue includes sales and usage‑based taxes, except for cases where we are acting as a pass‑through agent. Advertising Revenue Advertising revenue is generated by displaying ad products on Facebook, Instagram, Messenger, and third-party mobile applications. Marketers pay for ad products either directly or through their relationships with advertising agencies or resellers, based on the number of impressions delivered or the number of actions, such as clicks, taken by our users. We recognize revenue from the display of impression-based ads in the contracted period in which the impressions are delivered. Impressions are considered delivered when an ad is displayed to users. We recognize revenue from the delivery of action-based ads in the period in which a user takes the action the marketer contracted for. In general, we report advertising revenue on a gross basis, since we control the advertising inventory before it is transferred to our customers. Our control is evidenced by our sole ability to monetize the advertising inventory before it is transferred to our customers. For revenue generated from arrangements that involve third-parties, we evaluate whether we are the principal, and report revenue on a gross basis, or the agent, and report revenue on a net basis. In this assessment, we consider if we obtain control of the specified goods or services before they are transferred to the customer, as well as other indicators such as the party primarily responsible for fulfillment, inventory risk, and discretion in establishing price. We may accept lower consideration than the amount promised per the contract for certain revenue transactions and certain customers may receive cash-based incentives, credits, or refunds, which are accounted for as variable consideration when estimating the amount of revenue to recognize. We estimate these amounts and reduce revenue based on the amounts expected to be provided to customers. We believe that there will not be significant changes to our estimates of variable consideration. Reality Labs Revenue RL revenue is generated from the delivery of consumer hardware products, such as Meta Quest, wearables, and related software and content. Revenue is recognized at the time control of the products is transferred to customers, which is generally at the time of delivery, in an amount that reflects the consideration RL expects to be entitled to in exchange for the products. Other Revenue Other revenue consists of revenue from WhatsApp Business Platform, net fees we receive from developers using our Payments infrastructure, and revenue from various other sources. Cost of Revenue Our cost of revenue consists of expenses associated with the delivery and distribution of our products. These mainly include expenses related to the operation of our data centers and technical infrastructure, such as depreciation expense from servers, network infrastructure and buildings, as well as payroll and related expenses which include share-based compensation for employees on our operations teams, and energy and bandwidth costs. Cost of revenue also includes costs associated with partner arrangements, including traffic acquisition costs and credit card and other fees related to processing customer transactions; RL inventory costs, which consist of cost of products sold and estimated losses on non-cancelable contractual commitments; and content costs. Content Costs Our content costs are mostly related to payments to content providers from whom we license video and music to increase engagement on the platform. We pay fees to these content providers based on revenue generated, a flat fee, or both. For licensed video, we expense the cost per title when the title is accepted and available for viewing if the capitalization criteria are not met. Video content costs that meet the criteria for capitalization were not material to date. For licensed music, we expense the license fees over the contractual license period. We pay fees to music partners based on revenue generated, minimum guaranteed fees, flat fees, or a combination thereof. Expensed content costs are included in cost of revenue on our consolidated statements of income. Software Development Costs Software development costs, including costs to develop software products or the software component of products to be marketed or sold to external users, are expensed before the software or technology reach technological feasibility, which is typically reached shortly before the release of such products. Software development costs also include costs to develop software to be used solely to meet internal needs and applications used to deliver our services. These software development costs meet the criteria for capitalization once the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the function intended. Software development costs that meet the criteria for capitalization were not material to date. Share-based Compensation Share-based compensation expense consists of the company's restricted stock units (RSUs) expense. RSUs granted to employees are measured based on the grant-date fair value. In general, our RSUs vest over a service period of four years. Share-based compensation expense is generally recognized based on the straight-line basis over the requisite service period and forfeitures are accounted for as they occur. Income Taxes We are subject to income taxes in the United States and numerous foreign jurisdictions. Significant judgment is required in determining our provision for income taxes and income tax assets and liabilities, including evaluating uncertainties in the application of accounting principles and complex tax laws. We record a provision for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Under this method, we recognize deferred income tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, as well as for loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. We recognize the deferred income tax effects of a change in tax rates in the period of the enactment. We record a valuation allowance to reduce our deferred tax assets to the net amount that we believe is more likely than not to be realized. We consider all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income and ongoing tax planning strategies in assessing the need for a valuation allowance. We recognize tax benefits from uncertain tax positions only if we believe that it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. We recognize interest and penalties related to uncertain tax positions as a component of the provision for income taxes. Advertising Expense Advertising costs are expensed when incurred and are included in marketing and sales expenses on our consolidated statements of income. We incurred advertising expenses of $2.02 billion, $2.65 billion, and $2.99 billion for the years ended December 31, 2023, 2022, and 2021, respectively. Employee Severance We recognize one-time employee termination costs when notification occurs, based on the regional requirements in which the employee works. Cash and Cash Equivalents, Marketable Securities, and Restricted Cash Cash and cash equivalents consist of cash on deposit with financial institutions globally and highly liquid investments with maturities of 90 days or less from the date of purchase. We classify amounts in transit from customer credit cards and payment service providers as cash on our consolidated balance sheets. We hold investments in marketable securities, consisting of U.S. government securities, U.S. government agency securities, and investment grade corporate debt securities. We classify our marketable securities as available-for-sale (AFS) investments in our current assets because they represent investments of cash available for current operations. Our AFS investments are carried at estimated fair value with any unrealized gains and losses, net of taxes, included in accumulated other comprehensive income (loss) in stockholders' equity. AFS debt securities with an amortized cost basis in excess of estimated fair value are assessed to determine what amount of that difference, if any, is caused by expected credit losses. Allowance for credit losses on AFS debt securities are recognized as a charge in interest and other income (expense), net on our consolidated statements of income, and any remaining unrealized losses, net of taxes, are included in accumulated other comprehensive income (loss) in stockholders' equity. The amounts of credit losses recorded for the years ended December 31, 2023, 2022, and 2021 were not material. We determine realized gains or losses on sale of marketable securities on a specific identification method and include such gains or losses in interest and other income (expense), net on our consolidated statements of income. We classify certain restricted cash balances, consisting primarily of cash related to insurance policies, and retention and indemnification holdback for our acquisitions, within prepaid expenses and other current assets and other assets on our consolidated balance sheets based upon the expected duration of the restrictions. Non-marketable Equity Securities Our non-marketable equity securities are investments in privately-held companies without readily determinable fair values. We elected to account for substantially all of our non-marketable equity securities using the measurement alternative, which is cost, less any impairment, adjusted for changes in fair value resulting from observable transactions for identical or similar investments of the same issuer as of the respective transaction dates. We periodically review our non-marketable equity securities for impairment. When indicators exist and the estimated fair value of an investment is below the carrying amount, we write down the investment to fair value. The change in carrying value, if any, gains and losses resulting from the remeasurements are recognized in interest and other income (expense), net on our consolidated statements of income. For additional information, see Note 6 — Non-marketable Equity Securities. In addition, we also held other non-marketable equity securities accounted for under the equity method which were immaterial as of December 31, 2023 and 2022. Fair Value Measurements We apply fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. We define fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Inputs that are generally unobservable and typically reflect management's estimate of assumptions that market participants would use in pricing the asset or liability. Our cash equivalents and marketable debt securities are classified within Level 1 or Level 2 of the fair value hierarchy because their fair value is derived from quoted market prices or alternative pricing sources and models utilizing observable market inputs. 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. Our non-marketable equity securities accounted for using the measurement alternative are recorded at fair value on a non-recurring basis. When indicators of impairment exist or observable price changes of qualified transactions occur, the respective non-marketable equity security would be classified within Level 3 of the fair value hierarchy because the valuation methods include a combination of the observable transaction price at the transaction date and other unobservable inputs including volatility, rights, and obligations of the securities we hold. Accounts Receivable and Allowances Accounts receivable are recorded and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. We make estimates of expected credit and collectibility trends for the allowance for credit losses and allowance for unbilled receivables based upon our assessment of various factors, including historical experience, the age of the accounts receivable balances, credit quality of our customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect our ability to collect from customers. Expected credit losses are recorded as general and administrative expenses on our consolidated statements of income. As of December 31, 2023 and 2022, the allowances for accounts receivable were immaterial. Property and Equipment Property and equipment, including finance leases, are depreciated and stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets or the remaining lease term, whichever is shorter. The estimated useful lives of property and equipment and amortization periods of finance lease right-of-use (ROU) assets are described below: Property and Equipment Useful Life/ Amortization period Servers and network assets Four Buildings 25 to 30 years Equipment and other One Finance lease right-of-use assets Three Leasehold improvements Lesser of estimated useful life or remaining lease term We evaluate at least annually the recoverability of property and equipment for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. If such review indicates that the carrying amount of property and equipment assets is not recoverable, and the asset's fair value is less than the carrying amount, an impairment charge is recognized. Additionally, we recorded abandonment charges and its related adjustments in 2023 and 2022 for data center construction in progress (CIP) assets under ASC Topic 360 related to our restructuring efforts. For additional information regarding our restructuring efforts, see Note 3 — Restructuring. The useful lives of our property and equipment are determined by management when those assets are initially recognized and are routinely reviewed for the remaining estimated useful lives. Our current estimate of useful lives represents the best estimate of the useful lives based on current facts and circumstances, but may differ from the actual useful lives due to changes to our business operations, changes in the planned use of assets, and technological advancements. When we change the estimated useful life assumption for any asset, the remaining carrying amount of the asset is accounted for prospectively and depreciated or amortized over the revised estimated useful life. Servers and network assets include property and equipment mostly in our data centers, which is used to support production traffic. Land and assets held within CIP are not depreciated. CIP is related to the construction or development of property and equipment that have not yet been placed in service for their intended use. We capitalize interest on our debt related to certain eligible CIP assets and depreciate over the useful life of the related assets. The cost of maintenance and repairs is expensed as incurred. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from their respective accounts, and gain or loss on such sale or disposal is reflected in income from operations. Lease Obligations Our operating leases mostly comprise of certain offices, data centers, and colocations. We also have finance leases for certain network infrastructure. We determine if an arrangement is a lease at inception. Most of our leases contain lease and non-lease components. Non-lease components include fixed payments for maintenance, utilities, real estate taxes, and management fees. We combine fixed lease and non-lease components and account for them as a single lease component. Our lease agreements may contain variable costs such as contingent rent escalations, common area maintenance, insurance, real estate taxes, or other costs. These amounts are affected by the Consumer Price Index, payments contingent on energy production for renewable energy purchase arrangements, and maintenance and utilities. Such variable lease costs are expensed as incurred on our consolidated statements of income. For certain colocation and equipment leases, we apply a portfolio approach to effectively account for the operating lease ROU assets and lease liabilities. For leases with a lease term greater than 12 months, ROU assets and lease liabilities are recognized on our consolidated balance sheets at the commencement date based on the present value of the remaining fixed lease payments and includes only payments that are fixed and determinable at the time of commencement. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise such options. When determining the probability of exercising such options, we consider contract-based, asset-based, entity-based, and market-based factors. 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. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Our incremental borrowing rate is based on our understanding of what our credit rating would be in a similar economic environment. Operating leases are included in operating lease ROU assets, operating lease liabilities, current, and operating lease liabilities, non-current on our consolidated balance sheets. Finance leases are included in property and equipment, net, accrued expenses and other current liabilities, and other liabilities on our consolidated balance sheets. Operating lease costs are recognized on a straight-line basis over the lease terms. Finance lease assets are amortized on a straight-line basis over the shorter of the estimated useful lives of the assets or the lease terms. During the year ended December 31, 2023 and 2022 , we recorded net impairment losses of $2.43 billion and $2.22 billion in aggregate for operating lease ROU assets and leasehold improvements under ASC Topic 360 as a part of our facilities consolidation restructuring efforts. The fair values of the impaired assets were estimated using discounted cash flow models (income approach) based on market participant assumptions with Level 3 inputs. The assumptions used in estimating fair value include the expected downtime prior to the commencement of future subleases, projected sublease income over the remaining lease periods, and discount rates that reflect the level of risk associated with receiving future cash flows. For additional information regarding our restructuring efforts, see Note 3 — Restructuring. Loss Contingencies We are involved in legal proceedings, claims, and regulatory, tax or government inquiries and investigations that arise in the ordinary course of business. Certain of these matters include speculative claims for substantial or indeterminate amounts of damages. Additionally, we are required to comply with various legal and regulatory obligations around the world, and we regularly become subject to new laws and regulations in the jurisdictions in which we operate. 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 matters, asserted and unasserted, we evaluate the associated developments on a regular basis and accrue a liability when we believe that it is both probable that a loss has been incurred and the amount can be reasonably estimated. If we determine there is a reasonable possibility that we may incur a loss and the loss or range of loss can be reasonably estimated, we record such losses as general and administrative expenses on our consolidated statements of income and disclose the possible loss in the accompanying notes to the consolidated financial statements to the extent material. Business Combinations We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values as of the acquisition date. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill to reporting units based on the expected benefit from the business combination. Allocation of purchase consideration to identifiable assets and liabilities affects the amortization expense, as acquired finite-lived intangible assets are amortized over the useful life, whereas any indefinite-lived intangible assets, including goodwill, are not amortized. During the measurement period, which is not to exceed one year from the acquisition date, we record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings. Acquisition-related expenses are recognized separately from business combinations and are expensed as incurred. Goodwill and Intangibles Assets We allocate goodwill to reporting units based on the expected benefit from business combinations. We evaluate our reporting units annually, as well as when changes in our operating segments occur. For changes in reporting units, we reassign goodwill using a relative fair value allocation approach. Goodwill is tested for impairment at the reporting unit level annually or more frequently if events or changes in circumstances would more likely than not reduce the fair value of a reporting unit below its carrying value. We have two reporting units subject to goodwill impairment testing. As of December 31, 2023, no impairment of goodwill has been identified. We evaluate the recoverability of finite-lived intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. The evaluation of these intangible assets are performed at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate from the use and eventual disposition. If such review indicates that the carrying amount of finite-lived intangible assets is not recoverable, and the assets fair value is less than the carrying amount, an impairment charge is recognized. We have not recorded any material impairment charges during the years presented. Our finite-lived intangible assets are amortized on a straight-line basis over the estimated useful lives of the assets. Indefinite-lived intangible assets are not amortized. If an indefinite-lived intangible asset is subsequently determined to have a finite useful life, the asset will be tested for impairment and accounted for as a finite-lived intangible asset prospectively over its estimated remaining useful life. We routinely review the remaining estimated useful lives of finite-lived intangible assets. If we change the estimated useful life assumption for any asset, the remaining unamortized balance is amortized over the revised estimated useful life. Foreign Currency Generally, the functional currency of our international subsidiaries is the local currency. We translate the financial statements of these subsidiaries to U.S. dollars using month-end rates of exchange for assets and liabilities, and average rates of exchange for revenue, costs, and expenses. Translation gains and losses are recorded in accumulated other comprehensive income (loss) as a component of stockholders' equity. As of December 31, 2023 and 2022, we had cumulative translation losses, net of tax of $1.24 billion and $1.86 billion, respectively. Foreign currency transaction gains and losses from transactions denominated in a currency other than the functional currency of the subsidiary involved are recorded within interest and other income (expense), net on our consolidated statements of income. Net losses resulting from foreign currency transactions were $366 million, $81 million, and $140 million for the years ended December 31, 2023, 2022, and 2021, respectively. Credit Risk and Concentration Our financial instruments that are potentially subject to concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash, marketable securities, and accounts receivable. Cash equivalents consists mostly of money market funds, that primarily invest in U.S. government and agency securities. Marketable securities consist of investments in U.S. government securities, U.S. government agency securities, and investment grade corporate debt securities. As part of our cash management strategy, we concentrate cash deposits with large financial institutions and our marketable securities are held in diversified highly rated securities. Our investment portfolio in corporate debt securities is highly liquid and diversified among individual issuers. The amount of credit losses recorded for the year ended December 31, 2023 was not material. Accounts receivable are typically unsecured and are derived from revenue earned from customers across different industries and countries. We generated 37%, 40%, and 41% of our revenue for the years ended December 31, 2023, 2022, and 2021, respectively, from marketers and developers based in the United States, with a majority of the revenue outside of the United States in 2023 coming from customers located in western Europe, China, Brazil, Australia, Canada and Japan. We perform ongoing credit evaluations of our customers and generally do not require collateral. We maintain an allowance for estimated credit losses, and bad debt expense on these losses was not material during the years ended December 31, 2023, 2022, or 2021. In the event that accounts receivable collection cycles deteriorate, our operating results and financial position could be adversely affected. No customer represented 10% or more of total revenue during the years ended December 31, 2023, 2022, and 2021. Recently Adopted Accounting Pronouncements On April 1, 2023 we early adopted Accounting Standards Update (ASU) No. 2023-01, Leases (Topic 842): Common Control Arrangements (ASU 2023-01), which requires leasehold improvements associated with common control leases to be amortized over the useful life to the common control group. The adoption of this new standard did not have a material impact on our consolidated financial statements. Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (FASB) issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which requires an enhanced disclosure of significant segment expenses on an annual and interim basis. This guidance will be effective for the annual periods beginning the year ended December 31, 2024, and for interim periods beginning January 1, 2025. Early adoption is permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In December 2023, the FASB issu

Revenue

Revenue	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue disaggregated by revenue source and by segment consists of the following (in millions): Year Ended December 31, 2023 2022 2021 Advertising $ 131,948 $ 113,642 $ 114,934 Other revenue 1,058 808 721 Family of Apps 133,006 114,450 115,655 Reality Labs 1,896 2,159 2,274 Total revenue $ 134,902 $ 116,609 $ 117,929 Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions): Year Ended December 31, 2023 2022 2021 United States and Canada (1) $ 52,888 $ 50,150 $ 51,541 Europe (3) 31,210 26,681 29,057 Asia-Pacific (2) 36,154 27,760 26,739 Rest of World (3) 14,650 12,018 10,592 Total revenue $ 134,902 $ 116,609 $ 117,929 _________________________ (1) United States revenue was $49.78 billion, $47.20 billion, and $48.38 billion for the years ended December 31, 2023, 2022, and 2021, respectively. (2) China revenue was $13.69 billion, $7.40 billion, and $7.59 billion for the years ended December 31, 2023, 2022, and 2021, respectively. (3) Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East.

Restructuring

Restructuring	12 Months Ended
	Dec. 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). Impacted employees in our recruiting, technology, and business groups were notified during March 2023 to May 2023. As of December 31, 2023, we have completed these employee layoffs. In certain regions, a small portion of the impacted employees continue to be included in our reported headcount through 2024. We recognized $1.20 billion pre-tax severance and related personnel costs across the FoA and RL segments during the year ended December 31, 2023 in accordance with ASC Topic 420, Exit or Disposal Cost Obligations , where applicable. A summary of our 2023 Restructuring pre-tax charges, including subsequent adjustments, recorded for severance and related personnel costs during the year ended December 31, 2023 is as follows (in millions): Year Ended December 31, 2023 Research and development $ 422 Marketing and sales 308 General and administrative 467 Total (1) $ 1,197 ____________________________ (1) Includes $101 million of share-based compensation expense recognized for the 2023 layoffs during the year ended December 31, 2023. The 2023 Restructuring charges recorded under our FoA segment were $1.10 billion and RL segment were $96 million during the year ended December 31, 2023. The following is a summary of changes in the accrued severance and other personnel liabilities related to the 2023 layoff activities, included within accrued expenses and other current liabilities on our consolidated balance sheets (in millions): Severance Liabilities Balance as of January 1, 2023 $ — Severance and other personnel costs 1,097 Cash payments (1,021) Balance as of December 31, 2023 $ 76 2022 Restructuring In 2022, we initiated several measures to pursue greater efficiency and to realign our business and strategic priorities. These measures included 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 December 31, 2023, we have completed the data center initiatives and the 2022 employee layoffs, and substantially completed the facilities consolidation initiatives. A summary of our 2022 Restructuring pre-tax charges for the years ended December 31, 2023 and 2022, including subsequent adjustments, is as follows (in millions): Year Ended December 31, 2023 Year Ended December 31, 2022 Facilities Consolidation Severance and Other Personnel Costs Data Center Assets (1) Total Facilities Consolidation Severance and Other Personnel Costs Data Center Assets Total Cost of revenue $ 177 $ — $ (224) $ (47) $ 154 $ — $ 1,341 $ 1,495 Research and development 1,581 (9) — 1,572 1,311 408 — 1,719 Marketing and sales 396 (1) — 395 404 234 — 638 General and administrative 352 (17) — 335 426 333 — 759 Total $ 2,506 $ (27) $ (224) $ 2,255 $ 2,295 $ 975 $ 1,341 $ 4,611 ____________________________________ (1) Relates to changes in estimates in our data center restructuring charges recorded during 2022. Total restructuring charges recorded under our FoA segment were $1.74 billion and $4.10 billion, and RL segment were $516 million and $515 million for the years ended December 31, 2023 and 2022, respectively. 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 our 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 (35) Cash payments (737) Balance as of December 31, 2023 $ —

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 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 restricted stock units (RSUs) awards under our Equity Incentive 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 years ended December 31, 2023 and 2022, approximately 16 million and 95 million shares of Class A common stock equivalents of RSUs were excluded from the diluted EPS calculation, respectively, as including them would have an anti-dilutive effect. RSUs with anti-dilutive effect were not material for the year ended December 31, 2021. 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): Year Ended December 31, 2023 2022 2021 Class Class Class Class Class Class B Basic EPS: Numerator Net income $ 33,722 $ 5,376 $ 19,729 $ 3,471 $ 33,328 $ 6,042 Denominator Shares used in computation of basic earnings per share 2,220 354 2,285 402 2,383 432 Basic EPS $ 15.19 $ 15.19 $ 8.63 $ 8.63 $ 13.99 $ 13.99 Diluted EPS: Numerator Net income $ 33,722 $ 5,376 $ 19,729 $ 3,471 $ 33,328 $ 6,042 Reallocation of net income as a result of conversion of Class B to Class A common stock 5,376 — 3,471 — 6,042 — Reallocation of net income to Class B common stock — (112) — (19) — (93) Net income for diluted EPS $ 39,098 $ 5,264 $ 23,200 $ 3,452 $ 39,370 $ 5,949 Denominator Shares used in computation of basic earnings per share 2,220 354 2,285 402 2,383 432 Conversion of Class B to Class A common stock 354 — 402 — 432 — Weighted-average effect of dilutive RSUs 55 — 15 — 44 — Shares used in computation of diluted earnings per share 2,629 354 2,702 402 2,859 432 Diluted EPS $ 14.87 $ 14.87 $ 8.59 $ 8.59 $ 13.77 $ 13.77

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2023
Financial Instruments [Abstract]
Financial Instruments	Financial Instruments 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. 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 December 31, 2023 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash $ 6,265 Cash equivalents: Money market funds 32,910 $ 32,910 $ — $ — U.S. government and agency securities 2,206 2,206 — — Time deposits 261 — 261 — Corporate debt securities 220 — 220 — Total cash and cash equivalents 41,862 35,116 481 — Marketable securities: U.S. government securities 8,439 8,439 — — U.S. government agency securities 3,498 3,498 — — Corporate debt securities 11,604 — 11,604 — Total marketable securities 23,541 11,937 11,604 — Restricted cash equivalents 857 857 — — Other assets 101 — — 101 Total $ 66,361 $ 47,910 $ 12,085 $ 101 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 The following tables summarize our available-for-sale marketable debt securities and cash equivalents with unrealized losses as of December 31, 2023 and 2022, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions): December 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 $ 336 $ (1) $ 7,041 $ (275) $ 7,377 $ (276) U.S. government agency securities 71 — 3,225 (164) 3,296 (164) Corporate debt securities 647 (3) 10,125 (491) 10,772 (494) Total $ 1,054 $ (4) $ 20,391 $ (930) $ 21,445 $ (934) 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 year ended December 31, 2023 is mostly due to a shorter average portfolio duration. The allowance for credit losses and the gross unrealized gains on our marketable debt securities were not material as of December 31, 2023 and 2022. Contractual Maturities The following table classifies our marketable debt securities by contractual maturities (in millions): December 31, 2023 Due within one year $ 7,120 Due after one year to five years 16,421 Total $ 23,541 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 years ended December 31, 2023 and 2022 were $53 million and $198 million, respectively. For additional information, see Note 6 — Non-marketable Equity Securities.

Non-marketable Equity Securitie

Non-marketable Equity Securities	12 Months Ended
	Dec. 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): December 31, 2023 2022 Non-marketable equity securities under measurement alternative: Initial cost $ 6,389 $ 6,388 Cumulative upward adjustments 293 293 Cumulative impairment/downward adjustments (599) (497) Carrying value 6,083 6,184 Non-marketable equity securities under equity method 58 17 Total $ 6,141 $ 6,201

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net consists of the following (in millions): December 31, 2023 2022 Land $ 2,080 $ 1,874 Servers and network assets 46,838 34,330 Buildings 37,961 27,720 Leasehold improvements 6,972 6,522 Equipment and other 7,416 5,642 Finance lease right-of-use assets 4,185 3,353 Construction in progress 24,269 25,052 Property and equipment, gross 129,721 104,493 Less: Accumulated depreciation (33,134) (24,975) Property and equipment, net $ 96,587 $ 79,518 Construction in progress includes costs mostly related to construction of data centers, network infrastructure and servers. As of December 31, 2023, and 2022, construction in progress also included $1.40 billion and $2.18 billion of servers and network assets components stored by our suppliers until required by our design manufacturers to fulfill certain purchase orders, respectively. Depreciation expense on property and equipment was $11.02 billion, $8.50 billion, and $7.56 billion for the years ended December 31, 2023, 2022, and 2021, respectively. Within property and equipment, our servers and network assets depreciation expenses were $7.32 billion, $5.29 billion, and $4.94 billion for the years ended December 31, 2023, 2022, and 2021, respectively. During the year ended December 31, 2023, we capitalized $283 million of interest expense related to certain eligible construction in progress assets.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases We have entered into various non-cancelable operating lease agreements mostly for our offices, data centers, and colocations. We have also entered into various non-cancelable finance lease agreements for certain network infrastructure. Our leases have original lease periods expiring between 2024 and 2093. Many leases include one or more options to renew. The components of lease costs are as follows (in millions): Year Ended December 31, 2023 2022 2021 Finance lease cost: Amortization of right-of-use assets $ 349 $ 380 $ 344 Interest 20 16 15 Operating lease cost 2,091 1,857 1,540 Variable lease cost and other, net 580 363 272 Total lease cost $ 3,040 $ 2,616 $ 2,171 We also recorded $1.76 billion and $1.71 billion net impairment losses for operating lease right-of-use assets as a part of our facilities consolidation restructuring efforts for the years ended December 31, 2023, and 2022, respectively. For additional information, see Note 3 — Restructuring. Supplemental balance sheet information related to lease liabilities is as follows: December 31, 2023 2022 Weighted-average remaining lease term: Finance leases 14.0 years 14.4 years Operating leases 11.6 years 12.5 years Weighted-average discount rate: Finance leases 3.4 % 3.1 % Operating leases 3.7 % 3.2 % The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2023 (in millions): Operating Leases Finance Leases 2024 $ 2,219 $ 111 2025 2,330 64 2026 2,264 64 2027 2,233 60 2028 2,112 60 Thereafter 12,491 492 Total undiscounted cash flows 23,649 851 Less: Imputed interest (4,800) (161) Present value of lease liabilities (1) $ 18,849 $ 690 Lease liabilities, current $ 1,623 $ 90 Lease liabilities, non-current 17,226 600 Present value of lease liabilities (1) $ 18,849 $ 690 _________________ (1) Lease liabilities include operating leases under restructuring as a part of our facilities consolidation 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 December 31, 2023, we have additional operating and finance leases, that have not yet commenced, with lease obligations of approximately $7.07 billion and $1.37 billion, respectively, mostly for data centers, colocations, and network infrastructure. These operating and finance leases will commence between 2024 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): Year Ended December 31, 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases (1) $ 2,233 $ 1,654 $ 1,406 Operating cash flows for finance leases $ 20 $ 16 $ 15 Financing cash flows for finance leases $ 1,058 $ 850 $ 677 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 4,370 $ 4,366 $ 4,466 Finance leases $ 588 $ 223 $ 160 _________________ (1) Cash flows for operating leases during the year ended December 31, 2023 include cash paid for terminations of certain operating leases .
Leases	Leases We have entered into various non-cancelable operating lease agreements mostly for our offices, data centers, and colocations. We have also entered into various non-cancelable finance lease agreements for certain network infrastructure. Our leases have original lease periods expiring between 2024 and 2093. Many leases include one or more options to renew. The components of lease costs are as follows (in millions): Year Ended December 31, 2023 2022 2021 Finance lease cost: Amortization of right-of-use assets $ 349 $ 380 $ 344 Interest 20 16 15 Operating lease cost 2,091 1,857 1,540 Variable lease cost and other, net 580 363 272 Total lease cost $ 3,040 $ 2,616 $ 2,171 We also recorded $1.76 billion and $1.71 billion net impairment losses for operating lease right-of-use assets as a part of our facilities consolidation restructuring efforts for the years ended December 31, 2023, and 2022, respectively. For additional information, see Note 3 — Restructuring. Supplemental balance sheet information related to lease liabilities is as follows: December 31, 2023 2022 Weighted-average remaining lease term: Finance leases 14.0 years 14.4 years Operating leases 11.6 years 12.5 years Weighted-average discount rate: Finance leases 3.4 % 3.1 % Operating leases 3.7 % 3.2 % The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2023 (in millions): Operating Leases Finance Leases 2024 $ 2,219 $ 111 2025 2,330 64 2026 2,264 64 2027 2,233 60 2028 2,112 60 Thereafter 12,491 492 Total undiscounted cash flows 23,649 851 Less: Imputed interest (4,800) (161) Present value of lease liabilities (1) $ 18,849 $ 690 Lease liabilities, current $ 1,623 $ 90 Lease liabilities, non-current 17,226 600 Present value of lease liabilities (1) $ 18,849 $ 690 _________________ (1) Lease liabilities include operating leases under restructuring as a part of our facilities consolidation 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 December 31, 2023, we have additional operating and finance leases, that have not yet commenced, with lease obligations of approximately $7.07 billion and $1.37 billion, respectively, mostly for data centers, colocations, and network infrastructure. These operating and finance leases will commence between 2024 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): Year Ended December 31, 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases (1) $ 2,233 $ 1,654 $ 1,406 Operating cash flows for finance leases $ 20 $ 16 $ 15 Financing cash flows for finance leases $ 1,058 $ 850 $ 677 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 4,370 $ 4,366 $ 4,466 Finance leases $ 588 $ 223 $ 160 _________________ (1) Cash flows for operating leases during the year ended December 31, 2023 include cash paid for terminations of certain operating leases .

Acquisitions, Goodwill, and Int

Acquisitions, Goodwill, and Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisitions, Goodwill, and Intangible Assets	Acquisitions, Goodwill, and Intangible Assets During the year ended December 31, 2023, we completed business acquisitions with total purchase consideration of $467 million in cash, including $88 million and $352 million allocated to intangible assets and goodwill, respectively. Goodwill generated from these business acquisitions 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 these business acquisitions have not been presented because they are not significant to our consolidated financial statements, either individually or in aggregate. We have included the financial results of these acquired businesses in our consolidated financial statements from their respective dates of acquisition. Changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2023 and 2022 are as follows (in millions): Family of Apps Reality Labs Total Goodwill at December 31, 2021 $ 18,458 $ 739 $ 19,197 Acquisitions 773 364 1,137 Adjustments 19 (47) (28) Goodwill at December 31, 2022 19,250 1,056 20,306 Acquisitions — 357 357 Adjustments (4) (5) (9) Goodwill at December 31, 2023 $ 19,246 $ 1,408 $ 20,654 The following table sets forth the major categories of the intangible assets and their weighted-average remaining useful lives (in millions): December 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 4.7 $ 478 $ (182) $ 296 $ 507 $ (144) $ 363 Acquired patents 2.4 287 (233) 54 380 (289) 91 Other 2.3 28 (15) 13 86 (25) 61 Total finite-lived assets 793 (430) 363 973 (458) 515 Total indefinite-lived assets N/A 425 — 425 382 — 382 Total intangible assets $ 1,218 $ (430) $ 788 $ 1,355 $ (458) $ 897 Amortization expense of intangible assets for the years ended December 31, 2023, 2022, and 2021 was $161 million, $185 million, and $407 million, respectively. As of December 31, 2023, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in millions): 2024 $ 136 2025 97 2026 46 2027 24 2028 15 Thereafter 45 Total $ 363

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt As of December 31, 2023, we had $18.50 billion of fixed-rate senior unsecured notes (the Notes), including $10.0 billion issued in August 2022 and $8.50 billion issued in May 2023. The following table summarizes the Notes and the carrying amount of our debt (in millions, except percentages): Maturity Stated Interest Rate Effective Interest Rate December 31, 2023 December 31, 2022 August 2022 debt: 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 May 2023 debt: 2028 Notes 2028 4.60% 4.68% 1,500 2030 Notes 2030 4.80% 4.90% 1,000 2033 Notes 2033 4.95% 5.00% 1,750 2053 Notes 2053 5.60% 5.64% 2,500 2063 Notes 2063 5.75% 5.79% 1,750 Total face amount of long-term debt 18,500 10,000 Unamortized discount and issuance costs, net (115) (77) Long-term debt $ 18,385 $ 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. Interest expense, net of capitalized interest, recognized on the debt was $420 million and $160 million for the years ended December 31, 2023 and 2022, respectively. The total estimated fair value of our outstanding debt was $18.48 billion and $8.63 billion as of December 31, 2023 and 2022, respectively. The fair value was determined based on the closing trading price per $100 of the Notes and is categorized accordingly as Level 2 in the fair value hierarchy. As of December 31, 2023, future principal payments for the Notes, by year, are as follows (in millions): 2024 through 2026 $ — 2027 2,750 2028 1,500 Thereafter 14,250 Total outstanding debt $ 18,500

Liabilities

Liabilities	12 Months Ended
	Dec. 31, 2023
Accounts Payable and Accrued Liabilities [Abstract]
Liabilities	Liabilities The components of accrued expenses and other current liabilities are as follows (in millions): December 31, 2023 2022 Legal-related accruals (1) $ 6,592 $ 4,795 Accrued compensation and benefits 6,659 4,591 Accrued property and equipment 2,213 2,921 Accrued taxes 3,655 2,339 Other current liabilities 5,506 4,906 Accrued expenses and other current liabilities $ 24,625 $ 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): December 31, 2023 2022 Income tax payable, non-current $ 7,514 $ 6,645 Other non-current liabilities 1,370 1,119 Other liabilities $ 8,884 $ 7,764

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contractual Commitments We have $16.49 billion of non-cancelable contractual commitments as of December 31, 2023, which are primarily related to our investments in servers, network infrastructure, and consumer hardware products in Reality Labs. The following is a schedule, by years, of non-cancelable contractual commitments as of December 31, 2023 (in millions): 2024 $ 12,105 2025 1,152 2026 417 2027 218 2028 127 Thereafter 2,470 Total $ 16,489 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 expected volume consumption, the total estimated spend related to our renewable energy agreements as of December 31, 2023 is approximately $15.12 billion, a majority of which is due beyond five years. The ultimate spend under these agreements may vary and will be based on 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 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 15 — 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 ( In re Facebook, Inc., Consumer Privacy User Profile Litigation ). 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. The settlement was approved by the court on October 10, 2023, and the payment was made in November 2023. 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 Court of Chancery 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. The pending consolidated matter is In re Facebook Inc. Derivative Litigation . On January 19, 2022, we filed a motion to dismiss, which was denied in part on May 10, 2023. The insider trading claim was dismissed as to all defendants except Mark Zuckerberg, and the motion was denied as to the breach of fiduciary duty claims. On May 3, 2023, the FTC filed a public administrative proceeding ( In the Matter of Facebook, Inc. ) seeking substantial changes to the modified consent order, which took effect in April 2020 after its entry by the U.S. District Court for the District of Columbia. The changes sought by the FTC are set forth in a proposed order and include, among others, a prohibition on our use of minors' data for any commercial purposes, changes to the composition of our board of directors, and significant limitations on our ability to modify and launch new products. On May 31, 2023, we filed a motion before the U.S. District Court for the District of Columbia ( USA v. Facebook, Inc. ) seeking to enjoin the FTC from further pursuing its agency process to modify the modified consent order. On November 27, 2023, the district court denied our motion, and we have appealed to the U.S. Court of Appeals for the District of Columbia Circuit ( U.S. v. Facebook, Inc. ) and sought to stay the FTC proceeding pending resolution of the appeal. On January 12, 2024, the district court denied our motion for a stay pending appeal and, on January 25, 2024, we filed a motion for a stay pending appeal before the Court of Appeals. On November 29, 2023, we separately filed a complaint, also in the U.S. District Court for the District of Columbia ( Meta Platforms, Inc. v. FTC ), asserting constitutional challenges to the structure of the FTC, and seeking to preliminarily enjoin the FTC proceeding during the pendency of the litigation. On December 13, 2023, the FTC filed an opposition to our motion for preliminary injunction and a motion to dismiss the complaint. Oral argument on our motion to enjoin and the FTC’s motion to dismiss is scheduled for March 1, 2024. If the FTC proceeding is not enjoined or stayed, our response in the proceeding will be due on March 15, 2024, after which time the FTC could amend the order to impose these additional requirements set forth in the proposed order. We should have the opportunity to appeal an FTC decision modifying the order and could request the appellate court to stay the enforcement of the modifications to the order while the appeal is pending. It is unclear whether the appeal or the request for a stay would be successful. 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, on May 12, 2023, the IDPC issued a Final Decision concluding that Meta Platforms Ireland's reliance on Standard Contractual Clauses in respect of certain transfers of European Economic Area (EEA) Facebook user data was not in compliance with the GDPR. The IDPC issued an administrative fine of EUR €1.2 billion as well as corrective orders, which is described further in "Legal Proceedings" contained in Part I, Item 3 of this Annual Report on Form 10-K. The interpretation of the GDPR is still evolving, including through decisions of the Court of Justice of the European Union, 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 ( Texas v. Meta Platforms, Inc. ) 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 June 2024. 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 (for example, In re Meta Pixel Healthcare Litigation; In re Meta Pixel Tax Filing Cases; Frasco v. Flo Health, Inc.; Doe v. Hey Favor, Inc. et al.; Doe v. GoodRx Holdings, Inc. et al. in the U.S. District Court for the Northern District of California; and Rickwalder, et al. v. Meta Platforms, Inc. in the California Supreme Court). 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 2019 we became the subject of antitrust investigations by the FTC, and U.S. Department of Justice. On December 9, 2020, the FTC filed a complaint ( FTC v. Meta Platforms, Inc. ) 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. The FTC 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 motion to dismiss the complaint filed by the FTC with leave to amend. 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 ( Klein et al., v. Meta Platforms, Inc. ). 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. 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 ( In Re Facebook, Inc. Securities Litigation ) 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 on October 18, 2023, the U.S. Court of Appeals for the Ninth Circuit issued its decision affirming in part and reversing in part the district court's order dismissing the plaintiffs' case. 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. Ohio Pub. Empl. Ret. Sys. v. Meta Platforms, Inc. 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 ( Plumbers & Steamfitters Local 60 Pension Trust v. Meta Platforms, Inc. ). On July 18, 2023, the court dismissed the claims against Meta and its officers with leave to amend. On September 18, 2023, the plaintiffs filed an amended complaint. Youth-Related Actions 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 users, with most proceedings focused on those under 18 years old, resulting in various mental health and other harms. Putative class actions have been filed in the United States and Canada on behalf of users in those jurisdictions, and numerous school districts, municipalities, and one state in the United States have filed public nuisance claims based on similar allegations. On October 6, 2022, the federal cases were centralized in the U.S. District Court for the Northern District of California ( In re Social Media Adolescent Addiction Product Liability Personal Injury Litigation ). On October 13, 2023, in In re Social Media Cases , the Los Angeles County Superior Court presiding over the California state court proceedings sustained in part and overruled in part our demurrer as to the plaintiff's claims. Beginning in October 2023, additional U.S. states have filed lawsuits on these topics in various federal and state courts. These additional lawsuits include allegations regarding violations of the Children's Online Privacy Protection Act (COPPA) as well as violations of state laws concerning consumer protection, unfair business practices, and products liability, with proceedings focused on our alleged business practices and harms to users under 18 years old. These lawsuits seek damages and injunctive relief, and include cases filed by various state attorneys general in In re Social Media Adolescent Addiction Product Liability Personal Injury Litigation in the U.S. District Court for the Northern District of California, as well as various state courts around the country. We are also subject to government investigations and requests from multiple regulators concerning the use of our products, and the alleged mental and physical health and safety impacts on users, particularly younger users. Other Actions 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 ( DZ Reserve v. Facebook, Inc. ) 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 court heard argument on September 12, 2023. The case is stayed in the district court pending appeal. Beginning on July 7, 2023, multiple putative class actions were filed against us in the U.S. District Court for the Northern District of California ( Kadrey, et al. v. Meta Platforms, Inc. and Chabon, et al. v. Meta Platforms, Inc. ) and U.S. District Court for the Southern District of New York ( Huckabee, et al. v. Meta Platforms, Inc. et al.) , which was subsequently transferred to the U.S. District Court for the Northern District of California) alleging that we used various copyrighted books and materials to train our artificial intelligence models, and seeking unspecified damages and injunctive relief. In addition, we are subject to litigation and other proceedings involving law enforcement and other regulatory agencies, including in particular in Brazil, Russia, and other countries in Europe, in order to ascertain the precise scope of our legal obligations to comply with the requests of those agencies, including our obligation to disclose user information in particular circumstances. A number of such instances have resulted in the assessment of fines and penalties against us. We believe we have multiple legal grounds to satisfy these requests or prevail against associated fines and penalties, and we intend to vigorously defend such fines and penalties. Indemnifications In the normal course of business, to facilitate transactions of services and products, we have agreed to indemnify certain parties with respect to certain matters. We have agreed to hold certain parties harmless against losses arising from a breach of representations or covenants, or out of intellectual property infringement or other claims made by third parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, we have entered into indemnification agreements with our officers, directors, and certain employees, and our certificate of incorporation and bylaws contain similar indemnification obligations. It is not possible to determine the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by us under these agreements have not had a material impact on our consolidated financial statements. In our opinion, as of December 31, 2023, there was not a reasonable possibility we had incurred a material loss with respect to indemnification of such parties. We have not recorded any liability for costs related to indemnification through December 31, 2023.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Common Stock Our certificate of incorporation authorizes the issuance of Class A common stock and Class B common stock. As of December 31, 2023, we are authorized to issue 5,000 million shares of Class A common stock and 4,141 million shares of Class B common stock, each with a par value of $0.000006 per share. Holders of our Class A common stock and Class B common stock are entitled to dividends when, as, and if declared by our board of directors, subject to the rights of the holders of all classes of stock outstanding having priority rights to dividends. The holder of each share of Class A common stock is entitled to one vote, while the holder of each share of Class B common stock is entitled to ten votes. Shares of our Class B common stock are convertible into an equivalent number of shares of our Class A common stock and generally convert into shares of our Class A common stock upon transfer. Class A common stock and Class B common stock are collectively referred to as common stock throughout the notes to these financial statements, unless otherwise noted. As of December 31, 2023, there were 2,211 million shares of Class A common stock and 350 million shares of Class B common stock issued and outstanding. Capital Return Program Share Repurchase 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. In 2023, we repurchased and subsequently retired 92 million shares of our Class A common stock for an aggregate amount of $20.03 billion, which includes the 1% excise tax accruals as a result of the Inflation Reduction Act of 2022. As of December 31, 2023, $30.93 billion remained available and authorized for repurchases. In January 2024, an additional $50 billion of repurchases was authorized under this program. 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. Dividend On February 1, 2024, we announced the initiation of our first ever cash dividend program. This cash dividend of $0.50 per share of common stock is equivalent to $2.00 per share on an annual basis. The first cash dividend will be paid on March 26, 2024 to all holders of record of common stock at the close of business on February 22, 2024. Subject to legally available funds and future declaration by our board of directors, we currently intend to continue to pay a quarterly cash dividend on our outstanding common stock. The declaration and payment of future dividends is at the sole discretion of our board of directors after taking into account various factors, including our financial condition, operating results, available cash, and current and anticipated cash needs. 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. On March 1, 2023, the number of shares available for issuance under the Amended 2012 Plan increased by 425 million shares pursuant to the December 2022 amendment. As of December 31, 2023, there were 494 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 RSU expense, by line item in our consolidated statements of income (in millions): Year Ended December 31, 2023 2022 2021 Cost of revenue $ 740 $ 768 $ 577 Research and development 11,429 9,361 7,106 Marketing and sales 952 1,004 837 General and administrative 906 859 644 Total share-based compensation expense $ 14,027 $ 11,992 $ 9,164 The following table summarizes the activities for our unvested RSUs for the year ended December 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 112,066 $ 202.46 Vested (65,402) $ 210.74 Forfeited (24,712) $ 210.39 Unvested at December 31, 2023 149,062 $ 209.85 The weighted-average grant date fair value of RSUs granted in the years ended December 31, 2022 and 2021 was $195.66 and $305.40, respectively. The fair value as of the respective vesting dates of RSUs that vested during the years ended December 31, 2023, 2022, and 2021 was $17.46 billion, $9.44 billion, and $14.42 billion, respectively. The income tax benefit recognized related to awards vested during the years ended December 31, 2023, 2022, and 2021 was $3.65 billion, $2.00 billion, and $3.08 billion, respectively. As of December 31, 2023, there was $29.46 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.

Interest and Other Income (Expe

Interest and Other Income (Expense), Net	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Interest and Other Income (Expense), Net	Interest and Other Income (Expense), Net The following table presents the detail of interest and other income (expense), net (in millions): Year Ended December 31, 2023 2022 2021 Interest income $ 1,639 $ 461 $ 484 Interest expense (446) (185) (23) Foreign currency exchange losses, net (366) (81) (140) Other income (expense), net (150) (320) 210 Interest and other income (expense), net $ 677 $ (125) $ 531

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of income before provision for income taxes are as follows (in millions): Year Ended December 31, 2023 2022 2021 Domestic $ 43,499 $ 25,025 $ 43,669 Foreign 3,929 3,794 3,615 Income before provision for income taxes $ 47,428 $ 28,819 $ 47,284 The provision for income taxes consists of the following (in millions): Year Ended December 31, 2023 2022 2021 Current: Federal $ 4,934 $ 6,094 $ 4,971 State 577 874 548 Foreign 2,688 1,928 1,786 Total current tax expense 8,199 8,896 7,305 Deferred: Federal 67 (2,776) 585 State 123 (405) 43 Foreign (59) (96) (19) Total deferred tax (benefits)/expense 131 (3,277) 609 Provision for income taxes $ 8,330 $ 5,619 $ 7,914 A reconciliation of the U.S. federal statutory income tax rates to our effective tax rate is as follows (in percentages): Year Ended December 31, 2023 2022 2021 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 1.1 1.0 1.0 Share-based compensation (0.6) 2.6 (1.7) Research and development tax credits (1.5) (2.4) (1.3) Foreign-derived intangible income deduction (4.3) (7.0) (3.5) Effect of non-U.S. operations 0.9 3.0 0.9 Other 1.0 1.3 0.3 Effective tax rate 17.6 % 19.5 % 16.7 % Our deferred tax assets (liabilities) are as follows (in millions): December 31, 2023 2022 Deferred tax assets: Loss carryforwards $ 353 $ 234 Tax credit carryforwards 2,028 1,576 Share-based compensation 459 368 Accrued expenses and other liabilities 2,168 1,627 Lease liabilities 3,752 3,200 Capitalized research and development 9,292 8,175 Unrealized losses in securities and investments 232 489 Other 487 621 Total deferred tax assets 18,771 16,290 Less: valuation allowance (2,879) (2,493) Deferred tax assets, net of valuation allowance 15,892 13,797 Deferred tax liabilities: Depreciation and amortization (8,320) (6,296) Right-of-use assets (2,708) (2,555) Total deferred tax liabilities (11,028) (8,851) Net deferred tax assets $ 4,864 $ 4,946 The valuation allowance was approximately $2.88 billion and $2.49 billion as of December 31, 2023 and 2022, respectively, primarily related to U.S. state tax credit carryforwards, U.S. foreign tax credits, unrealized losses in marketable securities, and certain foreign tax attributes for which we do not believe a tax benefit is more likely than not to be realized. As of December 31, 2023, the U.S. federal and state net operating loss carryforwards were $200 million and $2.78 billion, which will begin to expire in 2035 and 2031, respectively, if not utilized. We have federal tax credit carryforwards of $490 million, which will begin to expire in 2029, if not utilized, and state tax credit carryforwards of $4.08 billion, most of which do not expire. Utilization of our net operating loss and tax credit carryforwards may be subject to substantial annual limitations due to the ownership change limitations provided by the Internal Revenue Code and similar state provisions. Such annual limitations could result in the expiration of the net operating loss and tax credit carryforwards before their utilization. The events that may cause ownership changes include, but are not limited to, a cumulative stock ownership change of greater than 50% over a three‑year period. The following table reflects changes in the gross unrecognized tax benefits (in millions): Year Ended December 31, 2023 2022 2021 Gross unrecognized tax benefits ‑ beginning of period $ 10,757 $ 9,807 $ 8,692 Increases related to prior year tax positions 168 210 328 Decreases related to prior year tax positions (264) (172) (86) Increases related to current year tax positions 1,204 1,166 963 Decreases related to settlements of prior year tax positions (199) (254) (90) Gross unrecognized tax benefits ‑ end of period $ 11,666 $ 10,757 $ 9,807 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 the uncertainties with our research tax credits. During all years presented, we recognized interest and penalties related to unrecognized tax benefits within the provision for income taxes on our consolidated statements of income. The amount of interest and penalties accrued as of December 31, 2023, 2022, and 2021 were $1.48 billion, $1.07 billion, and $960 million respectively. If our gross unrecognized tax benefits of $11.67 billion as of December 31, 2023 were realized in a future period, this would result in a tax benefit of $7.33 billion within our provision of income taxes at such time. 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 2017 through 2019 tax years. Our 2014 through 2016 tax years are with the IRS Independent Office of Appeals for certain unresolved issues. 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 position of the IRS and have filed a petition in the Tax Court challenging the Notice. On January 15, 2020, the IRS's amendment to answer was filed stating that it planned to assert at trial an adjustment that is higher than the adjustment stated in the Notice. The first session of the trial was completed in March 2020 and the final trial session was completed in August 2022. We expect the Tax Court to issue an opinion in 2024. Based on the information provided, we believe that, if the IRS prevails in its updated position, this could result in an additional federal tax liability of an estimated, aggregate amount of up to approximately $9.0 billion in excess of the amounts in our originally filed U.S. return, plus interest and any penalties asserted. In March 2018, we received a second Notice from the IRS in conjunction with the examination of our 2011 through 2013 tax years. The IRS applied its position from the 2010 tax year to each of these years and also proposed new adjustments related to other transfer pricing with our foreign subsidiaries and certain tax credits that we claimed. If the IRS prevails in its position for these new adjustments, this could result in an additional federal tax liability of up to approximately $680 million in excess of the amounts in our originally filed U.S. returns, plus interest and any penalties asserted. We do not agree with the positions of the IRS in the second Notice and have filed a petition in the Tax Court challenging the second Notice. We have previously accrued an estimated unrecognized tax benefit consistent with the guidance in ASC 740, Income Taxes (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 December 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	12 Months Ended
	Dec. 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 our augmented, mixed and virtual reality related consumer hardware, software, and content. Our operating segments are the same as our reportable segments. Our chief executive officer is our chief operating decision maker (CODM), who allocates resources to and assesses the performance of each operating segment using information about the operating segment's revenue and income (loss) from operations. Our CODM does not evaluate operating segments using asset or liability information. 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, legal-related costs, and severance 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, physical security expenses, and certain restructuring costs, are mostly allocated based on headcount. The following table sets forth our segment information of revenue and income (loss) from operations (in millions): Year Ended December 31, 2023 2022 2021 Revenue: Family of Apps $ 133,006 $ 114,450 $ 115,655 Reality Labs 1,896 2,159 2,274 Total revenue $ 134,902 $ 116,609 $ 117,929 Income (loss) from operations: Family of Apps $ 62,871 $ 42,661 $ 56,946 Reality Labs (16,120) (13,717) (10,193) Total income from operations $ 46,751 $ 28,944 $ 46,753 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): December 31, 2023 2022 United States $ 91,940 $ 76,334 Rest of the world (1) 17,941 15,857 Total long-lived assets $ 109,881 $ 92,191 _________________________ (1) No individual country, other than disclosed above, exceeded 10% of our total long-lived assets for any period presented.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income	$ 39,098	$ 23,200	$ 39,370

Insider Trading Arrangements

Insider Trading Arrangements - Jennifer Newstead [Member]	3 Months Ended	12 Months Ended
	Dec. 31, 2023 shares	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On November 30, 2023, Jen nifer Newstead, our Chief Legal Officer, entered into a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. The trading plan provides for the sale of an aggregate of 10,968 shares of our Class A common stock and all shares received during the duration of the plan pursuant to Ms. Newstead's outstanding equity awards and any future equity award grants, excluding any shares withheld by the company to satisfy its income tax withholding and remittance obligations in connection with the net settlement of the equity awards. The plan will terminate on May 13, 2025, subject to early termination for certain specified events set forth in the plan.
Name	Jennifer Newstead
Title	Chief Legal Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 30, 2023
Arrangement Duration	530 days
Aggregate Available	10,968	10,968

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation We prepared the consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP). The 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.
Use of Estimates	Use of Estimates Preparation of consolidated financial statements in conformity with GAAP requires the use of estimates and judgments that affect the reported amounts in the 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 loss contingencies, income taxes, valuation of long-lived assets and their associated estimated useful lives, valuation of non-marketable equity securities, revenue recognition, valuation of goodwill, credit losses of available-for-sale (AFS) debt securities and accounts receivable, and fair value of financial instruments and 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.
Revenue Recognition	Revenue Recognition We recognize revenue under Accounting Standards Codification (ASC) 606 Revenue From Contracts With Customers . Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Sales commissions we pay in connection with contracts are expensed when incurred because the amortization period is one year or less. These costs are recorded within marketing and sales on our consolidated statements of income. We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. Revenue includes sales and usage‑based taxes, except for cases where we are acting as a pass‑through agent. Advertising Revenue Advertising revenue is generated by displaying ad products on Facebook, Instagram, Messenger, and third-party mobile applications. Marketers pay for ad products either directly or through their relationships with advertising agencies or resellers, based on the number of impressions delivered or the number of actions, such as clicks, taken by our users. We recognize revenue from the display of impression-based ads in the contracted period in which the impressions are delivered. Impressions are considered delivered when an ad is displayed to users. We recognize revenue from the delivery of action-based ads in the period in which a user takes the action the marketer contracted for. In general, we report advertising revenue on a gross basis, since we control the advertising inventory before it is transferred to our customers. Our control is evidenced by our sole ability to monetize the advertising inventory before it is transferred to our customers. For revenue generated from arrangements that involve third-parties, we evaluate whether we are the principal, and report revenue on a gross basis, or the agent, and report revenue on a net basis. In this assessment, we consider if we obtain control of the specified goods or services before they are transferred to the customer, as well as other indicators such as the party primarily responsible for fulfillment, inventory risk, and discretion in establishing price. We may accept lower consideration than the amount promised per the contract for certain revenue transactions and certain customers may receive cash-based incentives, credits, or refunds, which are accounted for as variable consideration when estimating the amount of revenue to recognize. We estimate these amounts and reduce revenue based on the amounts expected to be provided to customers. We believe that there will not be significant changes to our estimates of variable consideration. Reality Labs Revenue RL revenue is generated from the delivery of consumer hardware products, such as Meta Quest, wearables, and related software and content. Revenue is recognized at the time control of the products is transferred to customers, which is generally at the time of delivery, in an amount that reflects the consideration RL expects to be entitled to in exchange for the products. Other Revenue Other revenue consists of revenue from WhatsApp Business Platform, net fees we receive from developers using our Payments infrastructure, and revenue from various other sources. Cost of Revenue Our cost of revenue consists of expenses associated with the delivery and distribution of our products. These mainly include expenses related to the operation of our data centers and technical infrastructure, such as depreciation expense from servers, network infrastructure and buildings, as well as payroll and related expenses which include share-based compensation for employees on our operations teams, and energy and bandwidth costs. Cost of revenue also includes costs associated with partner arrangements, including traffic acquisition costs and credit card and other fees related to processing customer transactions; RL inventory costs, which consist of cost of products sold and estimated losses on non-cancelable contractual commitments; and content costs. Content Costs Our content costs are mostly related to payments to content providers from whom we license video and music to increase engagement on the platform. We pay fees to these content providers based on revenue generated, a flat fee, or both. For licensed video, we expense the cost per title when the title is accepted and available for viewing if the capitalization criteria are not met. Video content costs that meet the criteria for capitalization were not material to date. For licensed music, we expense the license fees over the contractual license period. We pay fees to music partners based on revenue generated, minimum guaranteed fees, flat fees, or a combination thereof. Expensed content costs are included in cost of revenue on our consolidated statements of income.
Software Development Costs	Software Development Costs Software development costs, including costs to develop software products or the software component of products to be marketed or sold to external users, are expensed before the software or technology reach technological feasibility, which is typically reached shortly before the release of such products. Software development costs also include costs to develop software to be used solely to meet internal needs and applications used to deliver our services. These software development costs meet the criteria for capitalization once the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the function intended. Software development costs that meet the criteria for capitalization were not material to date.
Share-based Compensation	Share-based Compensation Share-based compensation expense consists of the company's restricted stock units (RSUs) expense. RSUs granted to employees are measured based on the grant-date fair value. In general, our RSUs vest over a service period of four years. Share-based compensation expense is generally recognized based on the straight-line basis over the requisite service period and forfeitures are accounted for as they occur.
Income Taxes	Income Taxes We are subject to income taxes in the United States and numerous foreign jurisdictions. Significant judgment is required in determining our provision for income taxes and income tax assets and liabilities, including evaluating uncertainties in the application of accounting principles and complex tax laws. We record a provision for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Under this method, we recognize deferred income tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, as well as for loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. We recognize the deferred income tax effects of a change in tax rates in the period of the enactment. We record a valuation allowance to reduce our deferred tax assets to the net amount that we believe is more likely than not to be realized. We consider all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income and ongoing tax planning strategies in assessing the need for a valuation allowance. We recognize tax benefits from uncertain tax positions only if we believe that it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. We recognize interest and penalties related to uncertain tax positions as a component of the provision for income taxes.
Advertising Expense	Advertising Expense
Employee Severance	Employee Severance We recognize one-time employee termination costs when notification occurs, based on the regional requirements in which the employee works.
Cash and Cash Equivalents, Marketable Securities, and Restricted Cash	Cash and Cash Equivalents, Marketable Securities, and Restricted Cash Cash and cash equivalents consist of cash on deposit with financial institutions globally and highly liquid investments with maturities of 90 days or less from the date of purchase. We classify amounts in transit from customer credit cards and payment service providers as cash on our consolidated balance sheets. We hold investments in marketable securities, consisting of U.S. government securities, U.S. government agency securities, and investment grade corporate debt securities. We classify our marketable securities as available-for-sale (AFS) investments in our current assets because they represent investments of cash available for current operations. Our AFS investments are carried at estimated fair value with any unrealized gains and losses, net of taxes, included in accumulated other comprehensive income (loss) in stockholders' equity. AFS debt securities with an amortized cost basis in excess of estimated fair value are assessed to determine what amount of that difference, if any, is caused by expected credit losses. Allowance for credit losses on AFS debt securities are recognized as a charge in interest and other income (expense), net on our consolidated statements of income, and any remaining unrealized losses, net of taxes, are included in accumulated other comprehensive income (loss) in stockholders' equity. The amounts of credit losses recorded for the years ended December 31, 2023, 2022, and 2021 were not material. We determine realized gains or losses on sale of marketable securities on a specific identification method and include such gains or losses in interest and other income (expense), net on our consolidated statements of income. We classify certain restricted cash balances, consisting primarily of cash related to insurance policies, and retention and indemnification holdback for our acquisitions, within prepaid expenses and other current assets and other assets on our consolidated balance sheets based upon the expected duration of the restrictions.
Non-marketable Equity Securities	Non-marketable Equity Securities
Fair Value Measurements	Fair Value Measurements We apply fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. We define fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Inputs that are generally unobservable and typically reflect management's estimate of assumptions that market participants would use in pricing the asset or liability. Our cash equivalents and marketable debt securities are classified within Level 1 or Level 2 of the fair value hierarchy because their fair value is derived from quoted market prices or alternative pricing sources and models utilizing observable market inputs. 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.
Accounts Receivable and Allowances	Accounts Receivable and Allowances Accounts receivable are recorded and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. We make estimates of expected credit and collectibility trends for the allowance for credit losses and
Property and Equipment	Property and Equipment Property and equipment, including finance leases, are depreciated and stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets or the remaining lease term, whichever is shorter. The estimated useful lives of property and equipment and amortization periods of finance lease right-of-use (ROU) assets are described below: Property and Equipment Useful Life/ Amortization period Servers and network assets Four Buildings 25 to 30 years Equipment and other One Finance lease right-of-use assets Three Leasehold improvements Lesser of estimated useful life or remaining lease term We evaluate at least annually the recoverability of property and equipment for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. If such review indicates that the carrying amount of property and equipment assets is not recoverable, and the asset's fair value is less than the carrying amount, an impairment charge is recognized. Additionally, we recorded abandonment charges and its related adjustments in 2023 and 2022 for data center construction in progress (CIP) assets under ASC Topic 360 related to our restructuring efforts. For additional information regarding our restructuring efforts, see Note 3 — Restructuring. The useful lives of our property and equipment are determined by management when those assets are initially recognized and are routinely reviewed for the remaining estimated useful lives. Our current estimate of useful lives represents the best estimate of the useful lives based on current facts and circumstances, but may differ from the actual useful lives due to changes to our business operations, changes in the planned use of assets, and technological advancements. When we change the estimated useful life assumption for any asset, the remaining carrying amount of the asset is accounted for prospectively and depreciated or amortized over the revised estimated useful life. Servers and network assets include property and equipment mostly in our data centers, which is used to support production traffic. Land and assets held within CIP are not depreciated. CIP is related to the construction or development of property and equipment that have not yet been placed in service for their intended use. We capitalize interest on our debt related to certain eligible CIP assets and depreciate over the useful life of the related assets. The cost of maintenance and repairs is expensed as incurred. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from their respective accounts, and gain or loss on such sale or disposal is reflected in income from operations.
Lease Obligations	Lease Obligations Our operating leases mostly comprise of certain offices, data centers, and colocations. We also have finance leases for certain network infrastructure. We determine if an arrangement is a lease at inception. Most of our leases contain lease and non-lease components. Non-lease components include fixed payments for maintenance, utilities, real estate taxes, and management fees. We combine fixed lease and non-lease components and account for them as a single lease component. Our lease agreements may contain variable costs such as contingent rent escalations, common area maintenance, insurance, real estate taxes, or other costs. These amounts are affected by the Consumer Price Index, payments contingent on energy production for renewable energy purchase arrangements, and maintenance and utilities. Such variable lease costs are expensed as incurred on our consolidated statements of income. For certain colocation and equipment leases, we apply a portfolio approach to effectively account for the operating lease ROU assets and lease liabilities. For leases with a lease term greater than 12 months, ROU assets and lease liabilities are recognized on our consolidated balance sheets at the commencement date based on the present value of the remaining fixed lease payments and includes only payments that are fixed and determinable at the time of commencement. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise such options. When determining the probability of exercising such options, we consider contract-based, asset-based, entity-based, and market-based factors. 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. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Our incremental borrowing rate is based on our understanding of what our credit rating would be in a similar economic environment. Operating leases are included in operating lease ROU assets, operating lease liabilities, current, and operating lease liabilities, non-current on our consolidated balance sheets. Finance leases are included in property and equipment, net, accrued expenses and other current liabilities, and other liabilities on our consolidated balance sheets. Operating lease costs are recognized on a straight-line basis over the lease terms. Finance lease assets are amortized on a straight-line basis over the shorter of the estimated useful lives of the assets or the lease terms. During the year ended December 31, 2023 and 2022 , we recorded net impairment losses of $2.43 billion and $2.22 billion in aggregate for operating lease ROU assets and leasehold improvements under ASC Topic 360 as a part of our facilities consolidation restructuring efforts. The fair values of the impaired assets were estimated using discounted cash flow models (income approach) based on market participant assumptions with Level 3 inputs. The assumptions used in estimating fair value include the expected downtime prior to the commencement of future subleases, projected sublease income over the remaining lease periods, and discount rates that reflect the level of risk associated with receiving future cash flows. For additional information regarding our restructuring efforts, see Note 3 — Restructuring.
Impairment Losses for Operating Lease ROU Assets and Leasehold Improvements	During the year ended December 31, 2023 and 2022 , we recorded net impairment losses of $2.43 billion and $2.22 billion in aggregate for operating lease ROU assets and leasehold improvements under ASC Topic 360 as a part of our facilities consolidation restructuring efforts. The fair values of the impaired assets were estimated using discounted cash flow models (income approach) based on market participant assumptions with Level 3 inputs. The assumptions used in estimating fair value include the expected downtime prior to the commencement of future subleases, projected sublease income over the remaining lease periods, and discount rates that reflect the level of risk associated with receiving future cash flows. For additional information regarding our restructuring efforts, see Note 3 — Restructuring.
Loss Contingencies	Loss Contingencies
Business Combinations	Business Combinations We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values as of the acquisition date. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill to reporting units based on the expected benefit from the business combination. Allocation of purchase consideration to identifiable assets and liabilities affects the amortization expense, as acquired finite-lived intangible assets are amortized over the useful life, whereas any indefinite-lived intangible assets, including goodwill, are not amortized. During the measurement period, which is not to exceed one year from the acquisition date, we record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings. Acquisition-related expenses are recognized separately from business combinations and are expensed as incurred.
Goodwill and Intangible Assets	Goodwill and Intangibles Assets We allocate goodwill to reporting units based on the expected benefit from business combinations. We evaluate our reporting units annually, as well as when changes in our operating segments occur. For changes in reporting units, we reassign goodwill using a relative fair value allocation approach. Goodwill is tested for impairment at the reporting unit level annually or more frequently if events or changes in circumstances would more likely than not reduce the fair value of a reporting unit below its carrying value. We have two reporting units subject to goodwill impairment testing. As of December 31, 2023, no impairment of goodwill has been identified. We evaluate the recoverability of finite-lived intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. The evaluation of these intangible assets are performed at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate from the use and eventual disposition. If such review indicates that the carrying amount of finite-lived intangible assets is not recoverable, and the assets fair value is less than the carrying amount, an impairment charge is recognized. We have not recorded any material impairment charges during the years presented. Our finite-lived intangible assets are amortized on a straight-line basis over the estimated useful lives of the assets. Indefinite-lived intangible assets are not amortized. If an indefinite-lived intangible asset is subsequently determined to have a finite useful life, the asset will be tested for impairment and accounted for as a finite-lived intangible asset prospectively over its estimated remaining useful life. We routinely review the remaining estimated useful lives of finite-lived intangible assets. If we change the estimated useful life assumption for any asset, the remaining unamortized balance is amortized over the revised estimated useful life.
Foreign Currency	Foreign Currency Generally, the functional currency of our international subsidiaries is the local currency. We translate the financial statements of these subsidiaries to U.S. dollars using month-end rates of exchange for assets and liabilities, and average rates of exchange for revenue, costs, and expenses. Translation gains and losses are recorded in accumulated other comprehensive income (loss) as a component of stockholders' equity. As of December 31, 2023 and 2022, we had cumulative translation losses, net of tax of $1.24 billion and $1.86 billion, respectively. Foreign currency transaction gains and losses from transactions denominated in a currency other than the functional currency of the subsidiary involved are recorded within interest and other income (expense), net on our consolidated statements of income. Net losses resulting from foreign currency transactions were $366 million, $81 million, and $140 million for the years ended December 31, 2023, 2022, and 2021, respectively.
Credit Risk and Concentration	Credit Risk and Concentration Our financial instruments that are potentially subject to concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash, marketable securities, and accounts receivable. Cash equivalents consists mostly of money market funds, that primarily invest in U.S. government and agency securities. Marketable securities consist of investments in U.S. government securities, U.S. government agency securities, and investment grade corporate debt securities. As part of our cash management strategy, we concentrate cash deposits with large financial institutions and our marketable securities are held in diversified highly rated securities. Our investment portfolio in corporate debt securities is highly liquid and diversified among individual issuers. The amount of credit losses recorded for the year ended December 31, 2023 was not material. Accounts receivable are typically unsecured and are derived from revenue earned from customers across different industries and countries. We generated 37%, 40%, and 41% of our revenue for the years ended December 31, 2023, 2022, and 2021, respectively, from marketers and developers based in the United States, with a majority of the revenue outside of the United States in 2023 coming from customers located in western Europe, China, Brazil, Australia, Canada and Japan. We perform ongoing credit evaluations of our customers and generally do not require collateral. We maintain an allowance for estimated credit losses, and bad debt expense on these losses was not material during the years ended December 31, 2023, 2022, or 2021. In the event that accounts receivable collection cycles deteriorate, our operating results and financial position could be adversely affected. No customer represented 10% or more of total revenue during the years ended December 31, 2023, 2022, and 2021.
Recently Adopted Accounting Pronouncements & Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements On April 1, 2023 we early adopted Accounting Standards Update (ASU) No. 2023-01, Leases (Topic 842): Common Control Arrangements (ASU 2023-01), which requires leasehold improvements associated with common control leases to be amortized over the useful life to the common control group. The adoption of this new standard did not have a material impact on our consolidated financial statements. Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (FASB) issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which requires an enhanced disclosure of significant segment expenses on an annual and interim basis. This guidance will be effective for the annual periods beginning the year ended December 31, 2024, and for interim periods beginning January 1, 2025. Early adoption is permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. This guidance will be effective for the annual periods beginning the year ended December 31, 2025. Early adoption is permitted. Upon adoption, the guidance can be applied prospectively or retrospectively. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.
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 restricted stock units (RSUs) awards under our Equity Incentive 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.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Estimated Useful Lives of Property and Equipment	The estimated useful lives of property and equipment and amortization periods of finance lease right-of-use (ROU) assets are described below: Property and Equipment Useful Life/ Amortization period Servers and network assets Four Buildings 25 to 30 years Equipment and other One Finance lease right-of-use assets Three Leasehold improvements Lesser of estimated useful life or remaining lease term

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Revenue disaggregated by revenue source and by segment consists of the following (in millions): Year Ended December 31, 2023 2022 2021 Advertising $ 131,948 $ 113,642 $ 114,934 Other revenue 1,058 808 721 Family of Apps 133,006 114,450 115,655 Reality Labs 1,896 2,159 2,274 Total revenue $ 134,902 $ 116,609 $ 117,929 Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions): Year Ended December 31, 2023 2022 2021 United States and Canada (1) $ 52,888 $ 50,150 $ 51,541 Europe (3) 31,210 26,681 29,057 Asia-Pacific (2) 36,154 27,760 26,739 Rest of World (3) 14,650 12,018 10,592 Total revenue $ 134,902 $ 116,609 $ 117,929 _________________________ (1) United States revenue was $49.78 billion, $47.20 billion, and $48.38 billion for the years ended December 31, 2023, 2022, and 2021, respectively. (2) China revenue was $13.69 billion, $7.40 billion, and $7.59 billion for the years ended December 31, 2023, 2022, and 2021, respectively. (3) Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East.

Restructuring (Tables)

Restructuring (Tables)	12 Months Ended
	Dec. 31, 2023
2023 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs	A summary of our 2023 Restructuring pre-tax charges, including subsequent adjustments, recorded for severance and related personnel costs during the year ended December 31, 2023 is as follows (in millions): Year Ended December 31, 2023 Research and development $ 422 Marketing and sales 308 General and administrative 467 Total (1) $ 1,197 ____________________________ (1) Includes $101 million of share-based compensation expense recognized for the 2023 layoffs during the year ended December 31, 2023.
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 the 2023 layoff activities, included within accrued expenses and other current liabilities on our consolidated balance sheets (in millions): Severance Liabilities Balance as of January 1, 2023 $ — Severance and other personnel costs 1,097 Cash payments (1,021) Balance as of December 31, 2023 $ 76
2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs	A summary of our 2022 Restructuring pre-tax charges for the years ended December 31, 2023 and 2022, including subsequent adjustments, is as follows (in millions): Year Ended December 31, 2023 Year Ended December 31, 2022 Facilities Consolidation Severance and Other Personnel Costs Data Center Assets (1) Total Facilities Consolidation Severance and Other Personnel Costs Data Center Assets Total Cost of revenue $ 177 $ — $ (224) $ (47) $ 154 $ — $ 1,341 $ 1,495 Research and development 1,581 (9) — 1,572 1,311 408 — 1,719 Marketing and sales 396 (1) — 395 404 234 — 638 General and administrative 352 (17) — 335 426 333 — 759 Total $ 2,506 $ (27) $ (224) $ 2,255 $ 2,295 $ 975 $ 1,341 $ 4,611 ____________________________________ (1) Relates to changes in estimates in our data center restructuring charges recorded during 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 our 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 (35) Cash payments (737) Balance as of December 31, 2023 $ —

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of 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): Year Ended December 31, 2023 2022 2021 Class Class Class Class Class Class B Basic EPS: Numerator Net income $ 33,722 $ 5,376 $ 19,729 $ 3,471 $ 33,328 $ 6,042 Denominator Shares used in computation of basic earnings per share 2,220 354 2,285 402 2,383 432 Basic EPS $ 15.19 $ 15.19 $ 8.63 $ 8.63 $ 13.99 $ 13.99 Diluted EPS: Numerator Net income $ 33,722 $ 5,376 $ 19,729 $ 3,471 $ 33,328 $ 6,042 Reallocation of net income as a result of conversion of Class B to Class A common stock 5,376 — 3,471 — 6,042 — Reallocation of net income to Class B common stock — (112) — (19) — (93) Net income for diluted EPS $ 39,098 $ 5,264 $ 23,200 $ 3,452 $ 39,370 $ 5,949 Denominator Shares used in computation of basic earnings per share 2,220 354 2,285 402 2,383 432 Conversion of Class B to Class A common stock 354 — 402 — 432 — Weighted-average effect of dilutive RSUs 55 — 15 — 44 — Shares used in computation of diluted earnings per share 2,629 354 2,702 402 2,859 432 Diluted EPS $ 14.87 $ 14.87 $ 8.59 $ 8.59 $ 13.77 $ 13.77

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 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 December 31, 2023 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash $ 6,265 Cash equivalents: Money market funds 32,910 $ 32,910 $ — $ — U.S. government and agency securities 2,206 2,206 — — Time deposits 261 — 261 — Corporate debt securities 220 — 220 — Total cash and cash equivalents 41,862 35,116 481 — Marketable securities: U.S. government securities 8,439 8,439 — — U.S. government agency securities 3,498 3,498 — — Corporate debt securities 11,604 — 11,604 — Total marketable securities 23,541 11,937 11,604 — Restricted cash equivalents 857 857 — — Other assets 101 — — 101 Total $ 66,361 $ 47,910 $ 12,085 $ 101 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 and cash equivalents with unrealized losses as of December 31, 2023 and 2022, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions): December 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 $ 336 $ (1) $ 7,041 $ (275) $ 7,377 $ (276) U.S. government agency securities 71 — 3,225 (164) 3,296 (164) Corporate debt securities 647 (3) 10,125 (491) 10,772 (494) Total $ 1,054 $ (4) $ 20,391 $ (930) $ 21,445 $ (934) 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): December 31, 2023 Due within one year $ 7,120 Due after one year to five years 16,421 Total $ 23,541

Non-marketable Equity Securit_2

Non-marketable Equity Securities (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Equity Securities without Readily Determinable Fair Value	The following table summarizes our non-marketable equity securities that were measured using measurement alternative and equity method (in millions): December 31, 2023 2022 Non-marketable equity securities under measurement alternative: Initial cost $ 6,389 $ 6,388 Cumulative upward adjustments 293 293 Cumulative impairment/downward adjustments (599) (497) Carrying value 6,083 6,184 Non-marketable equity securities under equity method 58 17 Total $ 6,141 $ 6,201

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment, net consists of the following (in millions): December 31, 2023 2022 Land $ 2,080 $ 1,874 Servers and network assets 46,838 34,330 Buildings 37,961 27,720 Leasehold improvements 6,972 6,522 Equipment and other 7,416 5,642 Finance lease right-of-use assets 4,185 3,353 Construction in progress 24,269 25,052 Property and equipment, gross 129,721 104,493 Less: Accumulated depreciation (33,134) (24,975) Property and equipment, net $ 96,587 $ 79,518

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Components of Lease Costs	The components of lease costs are as follows (in millions): Year Ended December 31, 2023 2022 2021 Finance lease cost: Amortization of right-of-use assets $ 349 $ 380 $ 344 Interest 20 16 15 Operating lease cost 2,091 1,857 1,540 Variable lease cost and other, net 580 363 272 Total lease cost $ 3,040 $ 2,616 $ 2,171
Lease, Balance Sheet Information	Supplemental balance sheet information related to lease liabilities is as follows: December 31, 2023 2022 Weighted-average remaining lease term: Finance leases 14.0 years 14.4 years Operating leases 11.6 years 12.5 years Weighted-average discount rate: Finance leases 3.4 % 3.1 % Operating leases 3.7 % 3.2 %
Schedule of Maturities of Finance Lease Liabilities	The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2023 (in millions): Operating Leases Finance Leases 2024 $ 2,219 $ 111 2025 2,330 64 2026 2,264 64 2027 2,233 60 2028 2,112 60 Thereafter 12,491 492 Total undiscounted cash flows 23,649 851 Less: Imputed interest (4,800) (161) Present value of lease liabilities (1) $ 18,849 $ 690 Lease liabilities, current $ 1,623 $ 90 Lease liabilities, non-current 17,226 600 Present value of lease liabilities (1) $ 18,849 $ 690 _________________
Schedule of Maturities of Operating Lease Liabilities	The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2023 (in millions): Operating Leases Finance Leases 2024 $ 2,219 $ 111 2025 2,330 64 2026 2,264 64 2027 2,233 60 2028 2,112 60 Thereafter 12,491 492 Total undiscounted cash flows 23,649 851 Less: Imputed interest (4,800) (161) Present value of lease liabilities (1) $ 18,849 $ 690 Lease liabilities, current $ 1,623 $ 90 Lease liabilities, non-current 17,226 600 Present value of lease liabilities (1) $ 18,849 $ 690 _________________ (1) Lease liabilities include operating leases under restructuring as a part of our facilities consolidation efforts. For additional information, see Note 3 — Restructuring.
Lease, Cash Flows Information	Supplemental cash flow information related to leases is as follows (in millions): Year Ended December 31, 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases (1) $ 2,233 $ 1,654 $ 1,406 Operating cash flows for finance leases $ 20 $ 16 $ 15 Financing cash flows for finance leases $ 1,058 $ 850 $ 677 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 4,370 $ 4,366 $ 4,466 Finance leases $ 588 $ 223 $ 160 _________________ (1) Cash flows for operating leases during the year ended December 31, 2023 include cash paid for terminations of certain operating leases .

Acquisitions, Goodwill, and I_2

Acquisitions, Goodwill, and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2023 and 2022 are as follows (in millions): Family of Apps Reality Labs Total Goodwill at December 31, 2021 $ 18,458 $ 739 $ 19,197 Acquisitions 773 364 1,137 Adjustments 19 (47) (28) Goodwill at December 31, 2022 19,250 1,056 20,306 Acquisitions — 357 357 Adjustments (4) (5) (9) Goodwill at December 31, 2023 $ 19,246 $ 1,408 $ 20,654
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): December 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 4.7 $ 478 $ (182) $ 296 $ 507 $ (144) $ 363 Acquired patents 2.4 287 (233) 54 380 (289) 91 Other 2.3 28 (15) 13 86 (25) 61 Total finite-lived assets 793 (430) 363 973 (458) 515 Total indefinite-lived assets N/A 425 — 425 382 — 382 Total intangible assets $ 1,218 $ (430) $ 788 $ 1,355 $ (458) $ 897
Schedule of Estimated Amortization Expense for Unamortized Acquired Intangible Assets	As of December 31, 2023, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in millions): 2024 $ 136 2025 97 2026 46 2027 24 2028 15 Thereafter 45 Total $ 363

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 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 December 31, 2023 December 31, 2022 August 2022 debt: 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 May 2023 debt: 2028 Notes 2028 4.60% 4.68% 1,500 2030 Notes 2030 4.80% 4.90% 1,000 2033 Notes 2033 4.95% 5.00% 1,750 2053 Notes 2053 5.60% 5.64% 2,500 2063 Notes 2063 5.75% 5.79% 1,750 Total face amount of long-term debt 18,500 10,000 Unamortized discount and issuance costs, net (115) (77) Long-term debt $ 18,385 $ 9,923
Schedule of Maturities of Long-Term Debt	As of December 31, 2023, future principal payments for the Notes, by year, are as follows (in millions): 2024 through 2026 $ — 2027 2,750 2028 1,500 Thereafter 14,250 Total outstanding debt $ 18,500

Liabilities (Tables)

Liabilities (Tables)	12 Months Ended
	Dec. 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): December 31, 2023 2022 Legal-related accruals (1) $ 6,592 $ 4,795 Accrued compensation and benefits 6,659 4,591 Accrued property and equipment 2,213 2,921 Accrued taxes 3,655 2,339 Other current liabilities 5,506 4,906 Accrued expenses and other current liabilities $ 24,625 $ 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): December 31, 2023 2022 Income tax payable, non-current $ 7,514 $ 6,645 Other non-current liabilities 1,370 1,119 Other liabilities $ 8,884 $ 7,764

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contractual Obligation, Fiscal Year Maturity	The following is a schedule, by years, of non-cancelable contractual commitments as of December 31, 2023 (in millions): 2024 $ 12,105 2025 1,152 2026 417 2027 218 2028 127 Thereafter 2,470 Total $ 16,489

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 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 RSU expense, by line item in our consolidated statements of income (in millions): Year Ended December 31, 2023 2022 2021 Cost of revenue $ 740 $ 768 $ 577 Research and development 11,429 9,361 7,106 Marketing and sales 952 1,004 837 General and administrative 906 859 644 Total share-based compensation expense $ 14,027 $ 11,992 $ 9,164
Schedule of Restricted Stock Units Award Activity	The following table summarizes the activities for our unvested RSUs for the year ended December 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 112,066 $ 202.46 Vested (65,402) $ 210.74 Forfeited (24,712) $ 210.39 Unvested at December 31, 2023 149,062 $ 209.85

Interest and Other Income (Ex_2

Interest and Other Income (Expense), Net (Tables)	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Schedule of Interest and Other Income, Net	The following table presents the detail of interest and other income (expense), net (in millions): Year Ended December 31, 2023 2022 2021 Interest income $ 1,639 $ 461 $ 484 Interest expense (446) (185) (23) Foreign currency exchange losses, net (366) (81) (140) Other income (expense), net (150) (320) 210 Interest and other income (expense), net $ 677 $ (125) $ 531

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Before Provision for Income Taxes	The components of income before provision for income taxes are as follows (in millions): Year Ended December 31, 2023 2022 2021 Domestic $ 43,499 $ 25,025 $ 43,669 Foreign 3,929 3,794 3,615 Income before provision for income taxes $ 47,428 $ 28,819 $ 47,284
Schedule of Provision for Income Taxes	The provision for income taxes consists of the following (in millions): Year Ended December 31, 2023 2022 2021 Current: Federal $ 4,934 $ 6,094 $ 4,971 State 577 874 548 Foreign 2,688 1,928 1,786 Total current tax expense 8,199 8,896 7,305 Deferred: Federal 67 (2,776) 585 State 123 (405) 43 Foreign (59) (96) (19) Total deferred tax (benefits)/expense 131 (3,277) 609 Provision for income taxes $ 8,330 $ 5,619 $ 7,914
Schedule of Reconciliation of U.S. Federal Statutory Income Tax Rate to Effective Tax Rate	A reconciliation of the U.S. federal statutory income tax rates to our effective tax rate is as follows (in percentages): Year Ended December 31, 2023 2022 2021 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 1.1 1.0 1.0 Share-based compensation (0.6) 2.6 (1.7) Research and development tax credits (1.5) (2.4) (1.3) Foreign-derived intangible income deduction (4.3) (7.0) (3.5) Effect of non-U.S. operations 0.9 3.0 0.9 Other 1.0 1.3 0.3 Effective tax rate 17.6 % 19.5 % 16.7 %
Schedule of Deferred Tax Assets and Liabilities	Our deferred tax assets (liabilities) are as follows (in millions): December 31, 2023 2022 Deferred tax assets: Loss carryforwards $ 353 $ 234 Tax credit carryforwards 2,028 1,576 Share-based compensation 459 368 Accrued expenses and other liabilities 2,168 1,627 Lease liabilities 3,752 3,200 Capitalized research and development 9,292 8,175 Unrealized losses in securities and investments 232 489 Other 487 621 Total deferred tax assets 18,771 16,290 Less: valuation allowance (2,879) (2,493) Deferred tax assets, net of valuation allowance 15,892 13,797 Deferred tax liabilities: Depreciation and amortization (8,320) (6,296) Right-of-use assets (2,708) (2,555) Total deferred tax liabilities (11,028) (8,851) Net deferred tax assets $ 4,864 $ 4,946
Schedule of Gross Unrecognized Tax Benefits Roll Forward	The following table reflects changes in the gross unrecognized tax benefits (in millions): Year Ended December 31, 2023 2022 2021 Gross unrecognized tax benefits ‑ beginning of period $ 10,757 $ 9,807 $ 8,692 Increases related to prior year tax positions 168 210 328 Decreases related to prior year tax positions (264) (172) (86) Increases related to current year tax positions 1,204 1,166 963 Decreases related to settlements of prior year tax positions (199) (254) (90) Gross unrecognized tax benefits ‑ end of period $ 11,666 $ 10,757 $ 9,807

Segment and Geographical Info_2

Segment and Geographical Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segments, Geographical Areas [Abstract]
Segment Revenue and Income from Operations	The following table sets forth our segment information of revenue and income (loss) from operations (in millions): Year Ended December 31, 2023 2022 2021 Revenue: Family of Apps $ 133,006 $ 114,450 $ 115,655 Reality Labs 1,896 2,159 2,274 Total revenue $ 134,902 $ 116,609 $ 117,929 Income (loss) from operations: Family of Apps $ 62,871 $ 42,661 $ 56,946 Reality Labs (16,120) (13,717) (10,193) Total income from operations $ 46,751 $ 28,944 $ 46,753
Schedule of 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): December 31, 2023 2022 United States $ 91,940 $ 76,334 Rest of the world (1) 17,941 15,857 Total long-lived assets $ 109,881 $ 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_4

Summary of Significant Accounting Policies - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) unit segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Summary of Accounting Policies
Number of reporting segments (in segments) | segment	2
Advertising expense	$ 2,020	$ 2,650	$ 2,990
Number of reporting units (in reporting units) | unit	2
Cumulative translation gain (loss), net of tax	$ (1,240)	(1,860)
Foreign currency exchange losses, net	(366)	(81)	$ (140)
2022 Restructuring
Summary of Accounting Policies
Restructuring charges	2,255	4,611
Operating Lease ROU Assets & Leasehold Improvements | 2022 Restructuring
Summary of Accounting Policies
Restructuring charges	$ 2,430	$ 2,220
Restricted Stock Units (RSUs)
Summary of Accounting Policies
Share-based compensation arrangement by share-based payment award, award vesting period	4 years
Servers and network assets | Minimum
Summary of Accounting Policies
Useful life of property and equipment	4 years
Servers and network assets | Maximum
Summary of Accounting Policies
Useful life of property and equipment	5 years
Buildings | Minimum
Summary of Accounting Policies
Useful life of property and equipment	25 years
Buildings | Maximum
Summary of Accounting Policies
Useful life of property and equipment	30 years
Equipment and other | Minimum
Summary of Accounting Policies
Useful life of property and equipment	1 year
Equipment and other | Maximum
Summary of Accounting Policies
Useful life of property and equipment	25 years
Finance lease right-of-use assets | Minimum
Summary of Accounting Policies
Useful life of property and equipment	3 years
Finance lease right-of-use assets | Maximum
Summary of Accounting Policies
Useful life of property and equipment	20 years
Revenue from contract with customer benchmark | Geographic concentration risk | United States
Summary of Accounting Policies
Concentration risk percentage (in percentage)	37%	40%	41%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)	Dec. 31, 2023
Servers and network assets | Minimum
Summary of Accounting Policies
Useful life of property and equipment	4 years
Servers and network assets | Maximum
Summary of Accounting Policies
Useful life of property and equipment	5 years
Buildings | Minimum
Summary of Accounting Policies
Useful life of property and equipment	25 years
Buildings | Maximum
Summary of Accounting Policies
Useful life of property and equipment	30 years
Equipment and other | Minimum
Summary of Accounting Policies
Useful life of property and equipment	1 year
Equipment and other | Maximum
Summary of Accounting Policies
Useful life of property and equipment	25 years
Finance lease right-of-use assets | Minimum
Summary of Accounting Policies
Useful life of property and equipment	3 years
Finance lease right-of-use assets | Maximum
Summary of Accounting Policies
Useful life of property and equipment	20 years

Revenue - Schedule of Disaggreg

Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 134,902	$ 116,609	$ 117,929
Family of Apps
Disaggregation of Revenue [Line Items]
Revenue	133,006	114,450	115,655
Reality Labs
Disaggregation of Revenue [Line Items]
Revenue	1,896	2,159	2,274
United States & Canada
Disaggregation of Revenue [Line Items]
Revenue	52,888	50,150	51,541
Europe
Disaggregation of Revenue [Line Items]
Revenue	31,210	26,681	29,057
Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue	36,154	27,760	26,739
Rest of World
Disaggregation of Revenue [Line Items]
Revenue	14,650	12,018	10,592
United States
Disaggregation of Revenue [Line Items]
Revenue	49,780	47,200	48,380
China
Disaggregation of Revenue [Line Items]
Revenue	13,690	7,400	7,590
Advertising | Family of Apps
Disaggregation of Revenue [Line Items]
Revenue	131,948	113,642	114,934
Other revenue | Family of Apps
Disaggregation of Revenue [Line Items]
Revenue	$ 1,058	$ 808	$ 721

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 675	$ 526
Deferred revenue, current	$ 626

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) $ in Millions	1 Months Ended	12 Months Ended
	Mar. 31, 2023 notice	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) employee	Dec. 31, 2021 USD ($)
Data Center Assets
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ (224)	$ 1,341	$ 0
2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Expected number of positions eliminated | employee			11,000
Restructuring charges		2,255	$ 4,611
2022 Restructuring | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(27)	975
2022 Restructuring | Impairment charges for facilities consolidation, net
Restructuring Cost and Reserve [Line Items]
Restructuring charges		2,506	2,295
2022 Restructuring | Data Center Assets
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(224)	1,341
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]
Restructuring charges		1,197
Family of Apps | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges recorded to date		1,740	4,100
Family of Apps | 2023 Restructuring | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1,100
Reality Labs | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges recorded to date		516	$ 515
Reality Labs | 2023 Restructuring | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 96

Restructuring - Restructuring a

Restructuring - Restructuring and Related Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Share-based payment arrangement, expense	$ 14,027	$ 11,992	$ 9,164
2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,255	4,611
Facilities Consolidation | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,506	2,295
Severance and Other Personnel Costs | 2023 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,197
Share-based payment arrangement, expense	101
Severance and Other Personnel Costs | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(27)	975
Data Center Assets
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(224)	1,341	0
Data Center Assets | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(224)	1,341
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Share-based payment arrangement, expense	740	768	577
Cost of revenue | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(47)	1,495
Cost of revenue | Facilities Consolidation | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	177	154
Cost of revenue | Severance and Other Personnel Costs | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Cost of revenue | Data Center Assets | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(224)	1,341
Research and development
Restructuring Cost and Reserve [Line Items]
Share-based payment arrangement, expense	11,429	9,361	7,106
Research and development | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,572	1,719
Research and development | Facilities Consolidation | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,581	1,311
Research and development | Severance and Other Personnel Costs | 2023 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	422
Research and development | Severance and Other Personnel Costs | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(9)	408
Research and development | Data Center Assets | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Marketing and sales
Restructuring Cost and Reserve [Line Items]
Share-based payment arrangement, expense	952	1,004	837
Marketing and sales | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	395	638
Marketing and sales | Facilities Consolidation | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	396	404
Marketing and sales | Severance and Other Personnel Costs | 2023 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	308
Marketing and sales | Severance and Other Personnel Costs | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(1)	234
Marketing and sales | Data Center Assets | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
General and administrative
Restructuring Cost and Reserve [Line Items]
Share-based payment arrangement, expense	906	859	$ 644
General and administrative | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	335	759
General and administrative | Facilities Consolidation | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	352	426
General and administrative | Severance and Other Personnel Costs | 2023 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	467
General and administrative | Severance and Other Personnel Costs | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(17)	333
General and administrative | Data Center Assets | 2022 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 0

Restructuring - Changes in the

Restructuring - Changes in the Liabilities Related to Workforce Reduction (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
2022 Restructuring
Restructuring Reserve [Roll Forward]
Restructuring charges	$ 2,255	$ 4,611
Severance and Other Personnel Costs | 2023 Restructuring
Restructuring Reserve [Roll Forward]
Beginning balance	0
Restructuring charges	1,197
Severance and other personnel costs, net	1,097
Cash payments	(1,021)
Ending balance	76	0
Severance and Other Personnel Costs | 2022 Restructuring
Restructuring Reserve [Roll Forward]
Beginning balance	772	0
Restructuring charges	(27)	975
Cash payments	(737)	(203)
Adjustments and foreign exchange	(35)
Ending balance	$ 0	$ 772

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock Units (RSUs) | Class A Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	16	95

Earnings per Share - Schedule o

Earnings per Share - Schedule of Numerators and Denominators of Basic and Diluted EPS Computations for Common Stock (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator
Net income	$ 39,098	$ 23,200	$ 39,370
Denominator
Shares used in computation of basic earnings per share (in shares)	2,574	2,687	2,815
Basic EPS (in dollars per share)	$ 15.19	$ 8.63	$ 13.99
Numerator
Net income	$ 39,098	$ 23,200	$ 39,370
Denominator
Shares used in computation of basic earnings per share (in shares)	2,574	2,687	2,815
Number of shares used for diluted EPS computation (in shares)	2,629	2,702	2,859
Diluted EPS (in dollars per share)	$ 14.87	$ 8.59	$ 13.77
Class A
Numerator
Net income	$ 33,722	$ 19,729	$ 33,328
Denominator
Shares used in computation of basic earnings per share (in shares)	2,220	2,285	2,383
Basic EPS (in dollars per share)	$ 15.19	$ 8.63	$ 13.99
Numerator
Net income	$ 33,722	$ 19,729	$ 33,328
Reallocation of net income as a result of conversion of Class B to Class A common stock	5,376	3,471	6,042
Reallocation of net income to Class B common stock	0	0	0
Net income for diluted EPS	$ 39,098	$ 23,200	$ 39,370
Denominator
Shares used in computation of basic earnings per share (in shares)	2,220	2,285	2,383
Conversion of Class B to Class A common stock (in shares)	354	402	432
Weighted-average effect of dilutive RSUs (in shares)	55	15	44
Number of shares used for diluted EPS computation (in shares)	2,629	2,702	2,859
Diluted EPS (in dollars per share)	$ 14.87	$ 8.59	$ 13.77
Class B
Numerator
Net income	$ 5,376	$ 3,471	$ 6,042
Denominator
Shares used in computation of basic earnings per share (in shares)	354	402	432
Basic EPS (in dollars per share)	$ 15.19	$ 8.63	$ 13.99
Numerator
Net income	$ 5,376	$ 3,471	$ 6,042
Reallocation of net income as a result of conversion of Class B to Class A common stock	0	0	0
Reallocation of net income to Class B common stock	(112)	(19)	(93)
Net income for diluted EPS	$ 5,264	$ 3,452	$ 5,949
Denominator
Shares used in computation of basic earnings per share (in shares)	354	402	432
Conversion of Class B to Class A common stock (in shares)	0	0	0
Weighted-average effect of dilutive RSUs (in shares)	0	0	0
Number of shares used for diluted EPS computation (in shares)	354	402	432
Diluted EPS (in dollars per share)	$ 14.87	$ 8.59	$ 13.77

Financial Instruments - Schedul

Financial Instruments - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	$ 41,862	$ 14,681
Marketable securities:	23,541
Marketable equity securities		25
Total marketable securities	23,541	26,057
Restricted cash equivalents	857	583
Other assets	101	157
Total	66,361	41,478
U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	8,439	8,708
U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	3,498	4,989
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	11,604	12,335
Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	6,265	6,176
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	32,910	8,305
U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	2,206	16
Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	261	156
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	220	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	35,116	8,321
Marketable equity securities		25
Total marketable securities	11,937	13,722
Restricted cash equivalents	857	583
Other assets	0	0
Total	47,910	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:	8,439	8,708
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable securities:	3,498	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	32,910	8,305
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	2,206	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	481	184
Marketable equity securities		0
Total marketable securities	11,604	12,335
Restricted cash equivalents	0	0
Other assets	0	0
Total	12,085	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 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:	11,604	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 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	261	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	220	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	101	157
Total	101	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 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 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 - Availab

Financial Instruments - Available-for-sale Marketable Securities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Marketable Securities [Line Items]
Less than 12 months, fair value	$ 1,054	$ 10,087
Less than 12 months, unrealized losses	(4)	(500)
12 months or greater, fair value	20,391	15,170
12 months or greater, unrealized losses	(930)	(1,189)
Fair value	21,445	25,257
Unrealized losses	(934)	(1,689)
U.S. government securities
Marketable Securities [Line Items]
Less than 12 months, fair value	336	5,008
Less than 12 months, unrealized losses	(1)	(234)
12 months or greater, fair value	7,041	3,499
12 months or greater, unrealized losses	(275)	(247)
Fair value	7,377	8,507
Unrealized losses	(276)	(481)
U.S. government agency securities
Marketable Securities [Line Items]
Less than 12 months, fair value	71	524
Less than 12 months, unrealized losses	0	(17)
12 months or greater, fair value	3,225	4,415
12 months or greater, unrealized losses	(164)	(308)
Fair value	3,296	4,939
Unrealized losses	(164)	(325)
Corporate debt securities
Marketable Securities [Line Items]
Less than 12 months, fair value	647	4,555
Less than 12 months, unrealized losses	(3)	(249)
12 months or greater, fair value	10,125	7,256
12 months or greater, unrealized losses	(491)	(634)
Fair value	10,772	11,811
Unrealized losses	$ (494)	$ (883)

Financial Instruments - Contrac

Financial Instruments - Contractual Maturities of Marketable Debt Securities (Details) $ in Millions	Dec. 31, 2023 USD ($)
Contractual Maturities of Marketable Securities
Due within one year	$ 7,120
Due after one year to five years	16,421
Total	$ 23,541

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Non-marketable equity securities, carrying value	$ 6,141	$ 6,201
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Non-marketable equity securities, carrying value	$ 53	$ 198

Non-marketable Equity Securit_3

Non-marketable Equity Securities - Schedule of Non-Marketable Equity Securities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Initial cost	$ 6,389	$ 6,388
Cumulative upward adjustments	293	293
Cumulative impairment/downward adjustments	(599)	(497)
Carrying value	6,083	6,184
Non-marketable equity securities under equity method	58	17
Total	$ 6,141	$ 6,201

Non-marketable Equity Securit_4

Non-marketable Equity Securities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Equity securities without readily determinable fair value, impairment and downward price adjustment, current year amount	$ 101	$ 447

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment
Finance lease right-of-use assets	$ 4,185	$ 3,353
Property and equipment, gross	129,721	104,493
Less: Accumulated depreciation	(33,134)	(24,975)
Property and equipment, net	96,587	79,518
Land
Property, Plant and Equipment
Property and equipment, gross	2,080	1,874
Servers and network assets
Property, Plant and Equipment
Property and equipment, gross	46,838	34,330
Buildings
Property, Plant and Equipment
Property and equipment, gross	37,961	27,720
Leasehold improvements
Property, Plant and Equipment
Property and equipment, gross	6,972	6,522
Equipment and other
Property, Plant and Equipment
Property and equipment, gross	7,416	5,642
Construction in progress
Property, Plant and Equipment
Property and equipment, gross	$ 24,269	$ 25,052

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Summary of Accounting Policies
Depreciation	$ 11,020	$ 8,500	$ 7,560
2022 Restructuring
Summary of Accounting Policies
Restructuring charges	2,255	4,611
Data Center Assets
Summary of Accounting Policies
Restructuring charges	(224)	1,341	0
Data Center Assets | 2022 Restructuring
Summary of Accounting Policies
Restructuring charges	(224)	1,341
Leasehold improvements | 2022 Restructuring
Summary of Accounting Policies
Restructuring charges	671	508
Servers and network assets
Summary of Accounting Policies
Construction in progress	1,400	2,180
Depreciation	7,320	$ 5,290	$ 4,940
Construction in progress
Summary of Accounting Policies
Interest costs capitalized	$ 283

Leases - Components of Lease Co

Leases - Components of Lease Cost and Supplementary Info (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finance lease cost:
Amortization of right-of-use assets	$ 349	$ 380	$ 344
Interest	20	16	15
Operating lease cost	2,091	1,857	1,540
Variable lease cost and other, net	580	363	272
Total lease cost	$ 3,040	$ 2,616	$ 2,171

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease not yet commenced	$ 7,070
Finance lease not yet commenced	1,370
2022 Restructuring
Lessee, Lease, Description [Line Items]
Restructuring charges	2,255	$ 4,611
Operating Lease, ROU Asset | 2022 Restructuring
Lessee, Lease, Description [Line Items]
Restructuring charges	$ 1,760	$ 1,710
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 - Lease, Balance Sheet I

Leases - Lease, Balance Sheet Information (Details)	Dec. 31, 2023	Dec. 31, 2022
Weighted-average remaining lease term:
Finance leases	14 years	14 years 4 months 24 days
Operating leases	11 years 7 months 6 days	12 years 6 months
Weighted-average discount rate:
Finance leases	3.40%	3.10%
Operating leases	3.70%	3.20%

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
2024	$ 2,219
2025	2,330
2026	2,264
2027	2,233
2028	2,112
Thereafter	12,491
Total undiscounted cash flows	23,649
Less: Imputed interest	(4,800)
Present value of lease liabilities	18,849
Lease liabilities, current	1,623	$ 1,367
Lease liabilities, non-current	17,226	$ 15,301
Finance Leases
2024	111
2025	64
2026	64
2027	60
2028	60
Thereafter	492
Total undiscounted cash flows	851
Less: Imputed interest	(161)
Present value of lease liabilities	690
Lease liabilities, current	90
Lease liabilities, non-current	$ 600
Finance Lease, Liability, Current, 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 - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 2,233	$ 1,654	$ 1,406
Operating cash flows for finance leases	20	16	15
Financing cash flows for finance leases	1,058	850	677
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	4,370	4,366	4,466
Finance leases	$ 588	$ 223	$ 160

Acquisitions, Goodwill, and I_3

Acquisitions, Goodwill, and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 20,654	$ 20,306	$ 19,197
Amortization expense	161	$ 185	$ 407
Several Business Acquisitions
Business Acquisition [Line Items]
Consideration transferred	467
Intangible assets acquired	88
Goodwill	$ 352

Acquisitions, Goodwill, and I_4

Acquisitions, Goodwill, and Intangible Assets - Schedule of Change in Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Goodwill beginning of period	$ 20,306	$ 19,197
Acquisitions	357	1,137
Adjustments	(9)	(28)
Goodwill end of period	20,654	20,306
Family of Apps
Goodwill [Roll Forward]
Goodwill beginning of period	19,250	18,458
Acquisitions	0	773
Adjustments	(4)	19
Goodwill end of period	19,246	19,250
Reality Labs
Goodwill [Roll Forward]
Goodwill beginning of period	1,056	739
Acquisitions	357	364
Adjustments	(5)	(47)
Goodwill end of period	$ 1,408	$ 1,056

Acquisitions, Goodwill, and I_5

Acquisitions, Goodwill, and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 793	$ 973
Accumulated Amortization	(430)	(458)
Net Carrying Amount	363	515
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Total indefinite-lived assets	425	382
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	1,218	1,355
Accumulated Amortization	(430)	(458)
Net Carrying Amount	$ 788	897
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)	4 years 8 months 12 days
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 478	507
Accumulated Amortization	(182)	(144)
Net Carrying Amount	296	363
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (182)	(144)
Acquired patents
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)	2 years 4 months 24 days
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 287	380
Accumulated Amortization	(233)	(289)
Net Carrying Amount	54	91
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (233)	(289)
Other
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)	2 years 3 months 18 days
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 28	86
Accumulated Amortization	(15)	(25)
Net Carrying Amount	13	61
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (15)	$ (25)

Acquisitions, Goodwill, and I_6

Acquisitions, Goodwill, and Intangible Assets - Schedule of Amortization Expense (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2024	$ 136
2025	97
2026	46
2027	24
2028	15
Thereafter	45
Net Carrying Amount	$ 363	$ 515

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	May 03, 2023	Aug. 09, 2022
Debt Instrument
Interest expense recognized on debt	$ 420	$ 160
Senior Notes
Debt Instrument
Debt instrument, face amount	18,500
Senior Notes | August 2022 debt:
Debt Instrument
Debt instrument, face amount				$ 10,000
Senior Notes | May 2023 debt:
Debt Instrument
Debt instrument, face amount			$ 8,500
Senior Notes | Significant Other Observable Inputs (Level 2) | Estimate of Fair Value Measurement
Debt Instrument
Long-term debt, fair value	$ 18,480	$ 8,630

Long-term Debt - Schedule of Ca

Long-term Debt - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument
Total face amount of long-term debt	$ 18,500	$ 10,000
Unamortized discount and issuance costs, net	(115)	(77)
Long-term debt	$ 18,385	9,923
2027 Notes | August 2022 debt:
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 | August 2022 debt:
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 | August 2022 debt:
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 | August 2022 debt:
Debt Instrument
Stated Interest Rate	4.65%
Effective Interest Rate	4.71%
Total face amount of long-term debt	$ 1,500	$ 1,500
2028 Notes | May 2023 debt:
Debt Instrument
Stated Interest Rate	4.60%
Effective Interest Rate	4.68%
Total face amount of long-term debt	$ 1,500
2030 Notes | May 2023 debt:
Debt Instrument
Stated Interest Rate	4.80%
Effective Interest Rate	4.90%
Total face amount of long-term debt	$ 1,000
2033 Notes | May 2023 debt:
Debt Instrument
Stated Interest Rate	4.95%
Effective Interest Rate	5%
Total face amount of long-term debt	$ 1,750
2053 Notes | May 2023 debt:
Debt Instrument
Stated Interest Rate	5.60%
Effective Interest Rate	5.64%
Total face amount of long-term debt	$ 2,500
2063 Notes | May 2023 debt:
Debt Instrument
Stated Interest Rate	5.75%
Effective Interest Rate	5.79%
Total face amount of long-term debt	$ 1,750

Long-term Debt - Schedule of Ma

Long-term Debt - Schedule of Maturities of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2024 through 2026	$ 0
2027	2,750
2028	1,500
Thereafter	14,250
Total face amount of long-term debt	$ 18,500	$ 10,000

Liabilities - Schedule of Accru

Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Legal-related accruals	$ 6,592	$ 4,795
Accrued compensation and benefits	6,659	4,591
Accrued property and equipment	2,213	2,921
Accrued taxes	3,655	2,339
Other current liabilities	5,506	4,906
Accrued expenses and other current liabilities	$ 24,625	$ 19,552

Liabilities - Schedule of Other

Liabilities - Schedule of Other Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities [Abstract]
Income tax payable, non-current	$ 7,514	$ 6,645
Other non-current liabilities	1,370	1,119
Other liabilities	$ 8,884	$ 7,764

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions, € in Billions			1 Months Ended	12 Months Ended
	Dec. 22, 2022 USD ($)	Jul. 27, 2018 claim	Apr. 30, 2020 USD ($)	Dec. 31, 2023 USD ($)	May 12, 2023 EUR (€)	Jan. 31, 2022 notice
Commitments and Contingencies Disclosure
Non-cancelable contractual commitment				$ 16,489
Total estimated spend, purchase commitment				$ 15,120
Commitment period				5 years
Litigation settlement, payment to other party	$ 725
Number of class actions filed | claim		2
Number of states that have filed public nuisance claims | notice						1
United States Federal Trade Commission Inquiry
Commitments and Contingencies Disclosure
Loss contingency accrual, payments			$ 5,000
IDPC Inquiry
Commitments and Contingencies Disclosure
Accrued FTC and other settlements | €					€ 1.2

Commitments and Contingencies_2

Commitments and Contingencies - Contractual Commitments (Details) $ in Millions	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 12,105
2025	1,152
2026	417
2027	218
2028	127
Thereafter	2,470
Total	$ 16,489

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock Narrative (Details)	Dec. 31, 2023 vote $ / shares shares	Dec. 31, 2022 $ / shares shares
Class of Stock
Common stock, par value (in dollars per share) | $ / shares	$ 0.000006	$ 0.000006
Class A Common Stock
Class of Stock
Common stock, shares authorized (in shares)	5,000,000,000	5,000,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.000006
Common stock, number of votes by class | vote	1
Common stock, shares, issued (in shares)	2,211,000,000	2,247,000,000
Common stock, shares, outstanding (in shares)	2,211,000,000	2,247,000,000
Class B
Class of Stock
Common stock, shares authorized (in shares)	4,141,000,000	4,141,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.000006
Common stock, number of votes by class | vote	10
Common stock, shares, issued (in shares)	350,000,000	367,000,000
Common stock, shares, outstanding (in shares)	350,000,000	367,000,000

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Share-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 14,027	$ 11,992	$ 9,164
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	740	768	577
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	11,429	9,361	7,106
Marketing and sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	952	1,004	837
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 906	$ 859	$ 644

Stockholders' Equity - Capital

Stockholders' Equity - Capital Return Program Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		12 Months Ended
	Feb. 01, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 31, 2024	Jan. 31, 2023
Class of Stock
Remaining authorized repurchase amount		$ 30,930	$ 10,870
Stock repurchase program, authorized amount						$ 40,000
Value of shares repurchased		$ 20,033	$ 27,926	$ 44,810
Subsequent Event
Class of Stock
Stock repurchase program, authorized amount					$ 50,000
Dividends payable (in dollars per share)	$ 0.50
Dividends payable, annual basis (in dollars per share)	$ 2
Class A Common Stock
Class of Stock
Shares repurchased (in shares)		92

Stockholders' Equity - Share-ba

Stockholders' Equity - Share-based Compensation Plans Narrative (Details) shares in Millions	Mar. 01, 2023 shares	Dec. 31, 2023 shareBasedCompensationPlan shares
Share-based Compensation Arrangement by Share-based Payment Award
Share-based employee compensation plans, number | shareBasedCompensationPlan		1
Shares reserved for issuance (in shares)	425
2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award
2012 equity incentive plan shares reserved for future issuance (in shares)		494

Stockholders' Equity - RSU Awar

Stockholders' Equity - RSU Award Activity (Details) - Restricted Stock Units (RSUs) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of Shares
Unvested at beginning of period (in shares)	127,110
Granted (in shares)	112,066
Vested (in shares)	(65,402)
Forfeited (in shares)	(24,712)
Unvested at end of period (in shares)	149,062	127,110
Weighted-Average Grant Date Fair Value Per Share
Unvested at beginning of period (in dollars per share)	$ 216.93
Granted (in dollars per share)	202.46	$ 195.66	$ 305.40
Vested (in dollars per share)	210.74
Forfeited (in dollars per share)	210.39
Unvested at end of period (in dollars per share)	$ 209.85	$ 216.93

Stockholders' Equity - Addition

Stockholders' Equity - Additional Award Disclosures Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Future period share-based compensation expense	$ 29,460
Future period share-based compensation expense period of recognition (in years)	3 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in dollars per share)	$ 202.46	$ 195.66	$ 305.40
Fair value of vested RSUs	$ 17,460	$ 9,440	$ 14,420
Income tax benefit from RSUs vested	$ 3,650	$ 2,000	$ 3,080

Interest and Other Income (Ex_3

Interest and Other Income (Expense), Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Income and Expenses [Abstract]
Interest income	$ 1,639	$ 461	$ 484
Interest expense	(446)	(185)	(23)
Foreign currency exchange losses, net	(366)	(81)	(140)
Other income (expense), net	(150)	(320)	210
Interest and other income (expense), net	$ 677	$ (125)	$ 531

Income Taxes - Schedule for Inc

Income Taxes - Schedule for Income Before Income Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ 43,499	$ 25,025	$ 43,669
Foreign	3,929	3,794	3,615
Income before provision for income taxes	$ 47,428	$ 28,819	$ 47,284

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 4,934	$ 6,094	$ 4,971
State	577	874	548
Foreign	2,688	1,928	1,786
Total current tax expense	8,199	8,896	7,305
Deferred:
Federal	67	(2,776)	585
State	123	(405)	43
Foreign	(59)	(96)	(19)
Total deferred tax (benefits)/expense	131	(3,277)	609
Provision for income taxes	$ 8,330	$ 5,619	$ 7,914

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
U.S. federal statutory income tax rate	21%	21%	21%
State income taxes, net of federal benefit	1.10%	1%	1%
Share-based compensation	(0.60%)	2.60%	(1.70%)
Research and development tax credits	(1.50%)	(2.40%)	(1.30%)
Foreign-derived intangible income deduction	(4.30%)	(7.00%)	(3.50%)
Effect of non-U.S. operations	0.90%	3%	0.90%
Other	1%	1.30%	0.30%
Effective tax rate	17.60%	19.50%	16.70%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Loss carryforwards	$ 353	$ 234
Tax credit carryforwards	2,028	1,576
Share-based compensation	459	368
Accrued expenses and other liabilities	2,168	1,627
Lease liabilities	3,752	3,200
Capitalized research and development	9,292	8,175
Unrealized losses in securities and investments	232	489
Other	487	621
Total deferred tax assets	18,771	16,290
Less: valuation allowance	(2,879)	(2,493)
Deferred tax assets, net of valuation allowance	15,892	13,797
Deferred tax liabilities:
Depreciation and amortization	(8,320)	(6,296)
Right-of-use assets	(2,708)	(2,555)
Total deferred tax liabilities	(11,028)	(8,851)
Net deferred tax assets	$ 4,864	$ 4,946

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) $ in Millions	1 Months Ended		12 Months Ended
	Mar. 31, 2018 USD ($) notice	Jul. 31, 2016 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Income Tax Disclosure
Valuation allowance, deferred tax assets			$ 2,879	$ 2,493
Cumulative stock ownership change threshold (in percentage)			50%
Change in ownership percentage over period			3 years
Unrecognized tax benefits, interest and penalties accrued			$ 1,480	1,070	$ 960
Unrecognized tax benefits			11,666	$ 10,757	$ 9,807	$ 8,692
Unrecognized tax benefits that would impact effective tax rate			7,330
Domestic Tax Authority
Income Tax Disclosure
Operating loss carryforwards			200
Tax credit carryforward			490
State and Local Jurisdiction
Income Tax Disclosure
Operating loss carryforwards			2,780
Tax credit carryforward			$ 4,080
Tax Year 2010 | Internal Revenue Service (IRS)
Income Tax Disclosure
Income tax examination, estimate of possible additional tax liability		$ 9,000
Tax Years 2011 Through 2013 | Internal Revenue Service (IRS)
Income Tax Disclosure
Income tax examination, number of notices (in notices) | notice	2
Tax Years 2011 Through 2013 | Internal Revenue Service (IRS)
Income Tax Disclosure
Income tax examination, estimate of possible additional tax liability	$ 680

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits
Gross unrecognized tax benefits ‑ beginning of period	$ 10,757	$ 9,807	$ 8,692
Increases related to prior year tax positions	168	210	328
Decreases related to prior year tax positions	(264)	(172)	(86)
Increases related to current year tax positions	1,204	1,166	963
Decreases related to settlements of prior year tax positions	(199)	(254)	(90)
Gross unrecognized tax benefits ‑ end of period	$ 11,666	$ 10,757	$ 9,807

Segment and Geographical Info_3

Segment and Geographical Information - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of reporting segments (in segments)	2

Segment and Geographical Info_4

Segment and Geographical Information - Segment Revenue and Income for Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue from External Customer [Line Items]
Revenue	$ 134,902	$ 116,609	$ 117,929
Income (loss) from operations:	46,751	28,944	46,753
Family of Apps
Revenue from External Customer [Line Items]
Revenue	133,006	114,450	115,655
Income (loss) from operations:	62,871	42,661	56,946
Reality Labs
Revenue from External Customer [Line Items]
Revenue	1,896	2,159	2,274
Income (loss) from operations:	$ (16,120)	$ (13,717)	$ (10,193)

Segment and Geographical Info_5

Segment and Geographical Information - Schedule of Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Long-Lived Assets, by Geographical Area [Line Items]
Long-lived assets	$ 109,881	$ 92,191
United States
Long-Lived Assets, by Geographical Area [Line Items]
Long-lived assets	91,940	76,334
Rest of the world
Long-Lived Assets, by Geographical Area [Line Items]
Long-lived assets	$ 17,941	$ 15,857