META PLATFORMS, INC., 10-K filed on 1/30/2025
Annual Report
v3.24.4
Cover page - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2024
Jan. 24, 2025
Jun. 30, 2024
Entity Information      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
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     $ 1,103
Documents Incorporated by Reference Portions of the registrant's Proxy Statement for the 2025 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, 2024.    
Amendment Flag false    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Entity Central Index Key 0001326801    
Class A Common Stock      
Entity Information      
Entity Common Stock, Shares Outstanding   2,189,898,148  
Class B Common Stock      
Entity Information      
Entity Common Stock, Shares Outstanding   343,761,117  
v3.24.4
Audit Information
 12 Months Ended
Dec. 31, 2024
Auditor [Abstract]  
Auditor Firm ID 42
Auditor Name Ernst & Young LLP
Auditor Location San Jose, California
v3.24.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 43,889 $ 41,862
Marketable securities 33,926 23,541
Accounts receivable, net 16,994 16,169
Prepaid expenses and other current assets 5,236 3,793
Total current assets 100,045 85,365
Non-marketable equity securities 6,070 6,141
Property and equipment, net 121,346 96,587
Operating lease right-of-use assets 14,922 13,294
Goodwill 20,654 20,654
Other assets 13,017 7,582
Total assets 276,054 229,623
Current liabilities:    
Accounts payable 7,687 4,849
Operating lease liabilities, current 1,942 1,623
Accrued expenses and other current liabilities 23,967 25,488
Total current liabilities 33,596 31,960
Operating lease liabilities, non-current 18,292 17,226
Long-term debt 28,826 18,385
Long-term income taxes 9,987 7,514
Other liabilities 2,716 1,370
Total liabilities 93,417 76,455
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.000006 par value; 5,000 million Class A shares authorized, 2,190 million and 2,211 million shares issued and outstanding, as of December 31, 2024 and 2023, respectively; 4,141 million Class B shares authorized, 344 million and 350 million shares issued and outstanding, as of December 31, 2024 and 2023, respectively 0 0
Additional paid-in capital 83,228 73,253
Accumulated other comprehensive loss (3,097) (2,155)
Retained earnings 102,506 82,070
Total stockholders' equity 182,637 153,168
Total liabilities and stockholders' equity $ 276,054 $ 229,623
v3.24.4
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Dec. 31, 2024
Dec. 31, 2023
Stockholders' equity:    
Common stock, par value (in dollars per share) $ 0.000006 $ 0.000006
Class A Common Stock    
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) 2,190,000,000 2,211,000,000
Common stock, shares, outstanding (in shares) 2,190,000,000 2,211,000,000
Class B Common Stock    
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) 344,000,000 350,000,000
Common stock, shares, outstanding (in shares) 344,000,000 350,000,000
v3.24.4
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Revenue $ 164,501 $ 134,902 $ 116,609
Costs and expenses:      
Cost of revenue 30,161 25,959 25,249
Research and development 43,873 38,483 35,338
Marketing and sales 11,347 12,301 15,262
General and administrative 9,740 11,408 11,816
Total costs and expenses 95,121 88,151 87,665
Income (loss) from operations 69,380 46,751 28,944
Interest and other income (expense), net 1,283 677 (125)
Income before provision for income taxes 70,663 47,428 28,819
Provision for income taxes 8,303 8,330 5,619
Net income $ 62,360 $ 39,098 $ 23,200
Earnings per share:      
Basic (in dollars per share) $ 24.61 $ 15.19 $ 8.63
Diluted (in dollars per share) $ 23.86 $ 14.87 $ 8.59
Weighted-average shares used to compute earnings per share:      
Basic (in shares) 2,534 2,574 2,687
Diluted (in shares) 2,614 2,629 2,702
v3.24.4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net income $ 62,360 $ 39,098 $ 23,200
Other comprehensive income (loss):      
Change in foreign currency translation adjustment, net of tax (1,413) 618 (1,184)
Change in unrealized gain (loss) on available-for-sale investments and other, net of tax 471 757 (1,653)
Comprehensive income $ 61,418 $ 40,473 $ 20,363
v3.24.4
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, 2021   2,741      
Balance at beginning of period at Dec. 31, 2021 $ 124,879 $ 0 $ 55,811 $ (693) $ 69,761
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock (in shares)   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
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock (in shares)   65      
Shares withheld related to net share settlement (in shares)   (27)      
Shares withheld related to net share settlement (13,770)   (6,721)   (7,049)
Share-based compensation 16,690   16,690    
Share repurchases (in shares)   (65)      
Share repurchases (29,754)       (29,754)
Dividends and dividend equivalents declared [1] (5,121)       (5,121)
Other 6   6    
Other comprehensive income (loss) (942)     (942)  
Net income 62,360       62,360
Balance at end of period (in shares) at Dec. 31, 2024   2,534      
Balance at end of period at Dec. 31, 2024 $ 182,637 $ 0 $ 83,228 $ (3,097) $ 102,506
[1] Our dividend program began in the first quarter of 2024.
v3.24.4
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parentheticals)
 12 Months Ended
Dec. 31, 2024
$ / shares
Statement of Stockholders' Equity [Abstract]  
Dividends and dividend equivalents declared (in dollars per share) $ 2.00
v3.24.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net income $ 62,360 $ 39,098 $ 23,200
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 15,498 11,178 8,686
Share-based compensation 16,690 14,027 11,992
Deferred income taxes (4,738) 131 (3,286)
Impairment charges for facilities consolidation 383 2,432 2,218
Other 87 635 641
Changes in assets and liabilities:      
Accounts receivable (1,485) (2,399) 231
Prepaid expenses and other current assets (698) 559 162
Other assets (270) (80) (106)
Accounts payable 373 51 210
Accrued expenses and other current liabilities 323 5,081 4,300
Other liabilities 2,805 624 886
Net cash provided by operating activities 91,328 71,113 50,475
Cash flows from investing activities      
Purchases of property and equipment (37,256) (27,045) (31,186)
Purchases of marketable securities (25,542) (2,982) (9,626)
Sales and maturities of marketable securities 15,789 6,184 13,158
Acquisitions of businesses and intangible assets (270) (629) (1,312)
Other investing activities 129 (23) (4)
Net cash used in investing activities (47,150) (24,495) (28,970)
Cash flows from financing activities      
Taxes paid related to net share settlement of equity awards (13,770) (7,012) (3,595)
Repurchases of Class A common stock (30,125) (19,774) (27,956)
Payments for dividends and dividend equivalents (5,072) 0 0
Proceeds from issuance of long-term debt, net 10,432 8,455 9,921
Principal payments on finance leases (1,969) (1,058) (850)
Other financing activities (277) (111) 344
Net cash used in financing activities (40,781) (19,500) (22,136)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (786) 113 (638)
Net increase (decrease) in cash, cash equivalents, and restricted cash 2,611 27,231 (1,269)
Cash, cash equivalents, and restricted cash at beginning of the period 42,827 15,596 16,865
Cash, cash equivalents, and restricted cash at end of the period 45,438 42,827 15,596
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets      
Cash and cash equivalents 43,889 41,862 14,681
Restricted cash, included in prepaid expenses and other current assets 353 99 294
Restricted cash, included in other assets 1,196 866 621
Total cash, cash equivalents, and restricted cash 45,438 42,827 15,596
Supplemental cash flow data      
Cash paid for income taxes, net 10,554 6,607 6,407
Cash paid for interest, net of amounts capitalized 486 448 0
Non-cash investing and financing activities:      
Property and equipment in accounts payable and accrued expenses and other current liabilities 7,127 4,105 3,319
Acquisition of businesses and intangible assets in accrued expenses and other current liabilities and other liabilities 172 119 291
Repurchases of Class A common stock in accrued expenses and other current liabilities 0 474 310
Data center assets abandonment      
Adjustments to reconcile net income to net cash provided by operating activities:      
Restructuring charges $ 0 $ (224) $ 1,341
v3.24.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
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 build the future of human connection and the technology that makes it possible.

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.

Balance Sheets Reclassifications

Certain prior period amounts on the consolidated balance sheets have been reclassified to conform to current period presentation.

•Intangible assets, net was reclassified into other assets
•Partners payable was reclassified into accrued expenses and other current liabilities
•Long-term income taxes was reclassified out of other liabilities

These reclassifications had no impact on our previously reported total assets, total liabilities, revenue, income from operations, net income or cash flows.

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.

In January 2025, we completed an assessment of the useful lives of certain servers and network assets, and determined we should extend the estimated useful lives to 5.5 years. This change in accounting estimate will be effective beginning fiscal year 2025.
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 for the reported periods.

Reality Labs Revenue

RL revenue is generated from the delivery of consumer hardware products, such as Meta Quest and Ray-Ban Meta AI glasses, 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

FoA other revenue consists of revenue from WhatsApp Business Platform, Meta Verified subscriptions, 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, employee compensation which includes payroll, share-based compensation and benefits for employees on our operations teams, and energy and bandwidth costs. Cost of revenue also consists of 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 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 $2.06 billion, $2.02 billion, and $2.65 billion for the years ended December 31, 2024, 2023, and 2022, respectively.
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 debt securities, consisting of U.S. government securities, U.S. government agency securities, and investment grade corporate debt securities. We classify our marketable debt 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. 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 also hold investments in marketable equity securities that are publicly traded stocks. We classify these equity securities as marketable securities within current assets on our consolidated balance sheets because they are available to be converted into cash to fund current operations without any restriction. These marketable equity securities are measured at fair value at each reporting date with the resulted unrealized gains and losses recognized in interest and other income (expense), net on our consolidated statements of income.

We classify certain restricted cash balances, consisting mostly of cash related to insurance policies, cash reserves designated for a specific purpose, as well as 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 its carrying amount, we write down the investment to fair value. The change in carrying value, resulted from the remeasurements, is 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 not material as of December 31, 2024 and 2023.

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, marketable securities, and restricted cash equivalents are classified within Level 1 or Level 2 of the fair value hierarchy because their fair values are 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, 2024 and 2023, the allowance for credit losses on accounts receivable were not material.

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 as of December 31, 2024 are described below:
Property and Equipment 
Useful Life/ Amortization period
Servers and network assets
Four to Five years (1)
Buildings
25 to 30 years
Equipment and other
One to 25 years
Finance lease right-of-use assets
Five to 20 years
Leasehold improvementsLesser of estimated useful life or remaining lease term
_______________________
(1)Effective January 2025, the useful lives of certain servers and network assets are extended to 5.5 years.

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.

The useful lives of our property and equipment are management's estimates when the assets are initially recognized and are routinely reviewed for the remaining estimated useful lives. Our 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 equipment mostly in our data centers, which is used to support production traffic. Land and assets held within construction in progress (CIP) are not depreciated. CIP assets are related to the construction or development of property and equipment that have not yet been placed in service for their intended use. We also 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 data centers, offices, and colocations. We also have finance leases for certain network infrastructure. We determine if an arrangement is a lease at inception and 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, 2024, 2023 and 2022, we recorded net impairment losses of $383 million, $2.43 billion, and $2.22 billion, respectively, 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. We record such losses as general and administrative expenses on our consolidated statements of income.

If we determine that a loss is probable or reasonably possible and the loss or range of loss can be reasonably estimated, we 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, Family of Apps (FoA) and Reality Labs (RL), subject to goodwill impairment testing. As of December 31, 2024, 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 a finite-lived intangible asset is not recoverable and the asset's fair value is less than the carrying amount, an impairment charge is recognized. The impairment charges of finite-lived intangible assets were not material during the reporting periods 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. Intangible assets are included within other assets on our consolidated balance sheet.

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, 2024 and 2023, we had cumulative translation losses, net of tax, of $2.66 billion and $1.24 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 $690 million, $366 million, and $81 million for the years ended December 31, 2024, 2023, and 2022, 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 debt securities, and accounts receivable. Cash equivalents consists mostly of money market funds, that primarily invest in U.S. government and agency securities. Marketable debt 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 debt 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, 2024 was not material.

Accounts receivable are typically unsecured and are derived from revenue earned from customers across different industries and countries. We generated 36%, 37%, and 40% of our revenue for the years ended December 31, 2024, 2023, and 2022, respectively, from marketers and developers based in the United States, with a majority of the revenue outside of the United States in 2024 coming from customers located in western Europe, China, Brazil, Australia, India and Canada.

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, 2024, 2023, and 2022. 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, 2024, 2023, and 2022.

Recently Adopted Accounting Pronouncements

Beginning in 2024 annual reporting, we adopted Accounting Standards Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07) that was issued by the Financial Accounting Standards Board (FASB). This new standard requires an enhanced disclosure of significant segment expenses on an annual and interim basis. Upon adoption, the guidance was applied retrospectively to all prior periods presented in the financial statements, which resulted in the disclosure of employee compensation costs for each reportable segment. For additional information, see Note 16 — Segment and Geographical Information.

Accounting Pronouncements Not Yet Adopted

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 new standard will be effective for the annual periods beginning the year ended December 31, 2025. The new standard permits early adoption and 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.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (ASU 2024-03). The new guidance requires disaggregated information about certain income statement expense line items on an annual and interim basis. This guidance will be effective for annual periods beginning the year ended December 31, 2027 and for interim periods thereafter. The new standard permits early adoption and can be applied prospectively or retrospectively. We are evaluating the effect that this guidance will have on our consolidated financial statements and related disclosures.
v3.24.4
Revenue
 12 Months Ended
Dec. 31, 2024
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, 
202420232022
Advertising$160,633 $131,948 $113,642 
Other revenue1,722 1,058 808 
Family of Apps162,355 133,006 114,450 
Reality Labs2,146 1,896 2,159 
Total revenue$164,501 $134,902 $116,609 

Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions):
 Year Ended December 31, 
 202420232022
United States and Canada (1)
$63,207 $52,888 $50,150 
Europe (3)
38,361 31,210 26,681 
Asia-Pacific (2)
45,009 36,154 27,760 
Rest of World (3)
17,924 14,650 12,018 
Total revenue$164,501 $134,902 $116,609 
_________________________
(1)United States revenue was $59.73 billion, $49.78 billion, and $47.20 billion for the years ended December 31, 2024, 2023, and 2022, respectively.
(2)China revenue was $18.35 billion, $13.69 billion, and $7.40 billion for the years ended December 31, 2024, 2023, and 2022, respectively.
(3)Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East.
Total deferred revenue was $772 million and $675 million as of December 31, 2024 and 2023, respectively. As of December 31, 2024, we expect $721 million of our deferred revenue to be realized in less than a year.
v3.24.4
Restructuring
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
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 Family of Apps (FoA) and Reality Labs (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, 2024, we have completed the 2022 restructuring initiatives.
A summary of our 2022 Restructuring pre-tax charges for the years ended December 31, 2024, 2023, and 2022, including subsequent adjustments, is as follows (in millions):
Year Ended December 31,
2024 (1)
20232022
Cost of revenue$31 $(47)$1,495 
Research and development254 1,572 1,719 
Marketing and sales54 395 638 
General and administrative50 335 759 
Total$389 $2,255 $4,611 
________________________
(1)The 2024 charges are all related to facilities consolidation.
Plan to Date
Facilities ConsolidationSeverance and Other Personnel CostsData Center AssetsTotal
Cost of revenue$362 $— $1,116 $1,478 
Research and development3,146 399 — 3,545 
Marketing and sales854 233 — 1,087 
General and administrative828 316 — 1,144 
Total$5,190 $948 $1,116 $7,254 
Total restructuring charges recorded under our FoA segment were $305 million, $1.74 billion, and $4.10 billion, and RL segment were $84 million, $516 million and $515 million for the years ended December 31, 2024, 2023, and 2022, respectively.
2023 Restructuring
The 2023 Restructuring charges for severance and related personnel costs were $1.20 billion for the year ended December 31, 2023. We completed the 2023 restructuring as of December 31, 2023.
v3.24.4
Earnings per Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share
The holders of our Class A and Class B common stock (together, "common stock") have identical liquidation and dividend rights but different voting rights. Accordingly, we present the earnings per share (EPS) for Class A and Class B common stock together.

Basic EPS is computed by dividing net income by the weighted-average number of shares of our common stock outstanding. Diluted EPS is computed by dividing net income by the weighted-average number of fully diluted common stock outstanding and assumes the conversion of our Class B common stock to Class A common stock.

Class A common stock equivalent of restricted stock units (RSUs) with anti-dilutive effect were not material for the year ended December 31, 2024. For the years ended December 31, 2023, and 2022, approximately 16 million and 95 million shares of RSUs were excluded from the diluted EPS calculation, respectively, as including them would have an anti-dilutive effect.

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,
 2024
2023 (2)
2022 (2)
Basic EPS:   
Numerator   
Distributed earnings$5,072 $— $— 
Undistributed earnings57,288 39,098 23,200 
Net income$62,360 $39,098 $23,200 
Denominator   
Shares used in computation of basic EPS (1)
2,534 2,574 2,687 
Basic EPS$24.61 $15.19 $8.63 
Diluted EPS: 
Numerator   
Net income for diluted EPS$62,360 $39,098 $23,200 
Denominator   
Shares used in computation of basic EPS (1)
2,534 2,574 2,687 
Effect of dilutive RSUs80 55 15 
Shares used in computation of diluted EPS2,614 2,629 2,702 
Diluted EPS$23.86 $14.87 $8.59 
____________________________________
(1)Includes 2,189 million, 2,220 million, and 2,285 million shares of Class A common stock and 345 million, 354 million, and 402 million shares of Class B common stock, for the years ended December 31, 2024, 2023, and 2022, respectively.
(2)The prior period EPS for Class A and Class B common stock has been presented together to conform with current period presentation, which had no impact on our previously reported basic or diluted EPS.
We declared and paid four quarterly cash dividends, including dividend equivalents, totaling $2.00 for each share of common stock during the year ended December 31, 2024. Total dividends and dividend equivalents paid for Class A and Class B common stock were $4.38 billion and $691 million, respectively, during the year ended December 31, 2024. EPS for Class B common stock is not presented separately as under the two-class method Class A and Class B EPS is not meaningfully different.
v3.24.4
Financial Instruments
 12 Months Ended
Dec. 31, 2024
Financial Instruments [Abstract]  
Financial Instruments Financial Instruments
Fair Value Measurements

Our cash equivalents, marketable securities, and restricted cash equivalents are classified within Level 1 or Level 2 of the fair value hierarchy because their fair values are derived from quoted market prices or alternative pricing sources and models utilizing market observable 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.

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
DescriptionDecember 31, 2024Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash equivalents:
Money market funds$36,165 $36,165 $— $— 
U.S. government and agency securities23 23 — — 
Time deposits369 — 369 — 
Corporate debt securities114 — 114 — 
Total cash equivalents36,671 36,188 483 — 
Marketable securities:
U.S. government securities14,889 14,889 — — 
U.S. government agency securities3,053 3,053 — — 
Corporate debt securities14,758 — 14,758 — 
Marketable equity securities1,226 1,226 — — 
Total marketable securities33,926 19,168 14,758 — 
Restricted cash equivalents1,193 1,193 — — 
Other assets101 — — 101 
Total$71,891 $56,549 $15,241 $101 
  Fair Value Measurement at Reporting Date Using
DescriptionDecember 31, 2023Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash equivalents:
Money market funds$32,910 $32,910 $— $— 
U.S. government and agency securities2,206 2,206 — — 
Time deposits261 — 261 — 
Corporate debt securities220 — 220 — 
Total cash equivalents35,597 35,116 481 — 
Marketable securities:
U.S. government securities8,439 8,439 — — 
U.S. government agency securities3,498 3,498 — — 
Corporate debt securities11,604 — 11,604 — 
Total marketable securities23,541 11,937 11,604 — 
Restricted cash equivalents857 857 — — 
Other assets101 — — 101 
Total$60,096 $47,910 $12,085 $101 
Unrealized Losses

The following tables summarize our available-for-sale marketable debt securities and cash equivalents with unrealized losses as of December 31, 2024 and 2023, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions):
December 31, 2024
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$6,860 $(71)$4,330 $(146)$11,190 $(217)
U.S. government agency securities435 (2)2,083 (44)2,518 (46)
Corporate debt securities2,989 (26)6,373 (192)9,362 (218)
Total$10,284 $(99)$12,786 $(382)$23,070 $(481)
    
December 31, 2023
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$336 $(1)$7,041 $(275)$7,377 $(276)
U.S. government agency securities71 — 3,225 (164)3,296 (164)
Corporate debt securities647 (3)10,125 (491)10,772 (494)
Total$1,054 $(4)$20,391 $(930)$21,445 $(934)

The gross unrealized gains on our marketable debt securities were not material as of December 31, 2024 and 2023.
Contractual Maturities

The following table classifies our marketable debt securities by contractual maturities (in millions):
December 31, 2024
Due within one year$7,847 
Due after one year to five years24,853 
Total$32,700 

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. For the years ended December 31, 2024 and 2023, changes in the fair value recorded for these non-marketable equity securities were not material. For additional information, see Note 6 — Non-marketable Equity Securities.
v3.24.4
Non-marketable Equity Securities
 12 Months Ended
Dec. 31, 2024
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,
20242023
Non-marketable equity securities under measurement alternative:
Initial cost$6,342 $6,389 
Cumulative upward adjustments300 293 
Cumulative impairment/downward adjustments(624)(599)
Carrying value6,018 6,083 
Non-marketable equity securities under equity method52 58 
Total non-marketable equity securities$6,070 $6,141 

During the years ended December 31, 2024, 2023 and 2022, impairment and downward adjustments recorded for our non-marketable equity securities that were measured using measurement alternative was $42 million, $101 million, and $447 million, respectively.
v3.24.4
Property and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consists of the following (in millions):
 December 31,
 20242023
Land$2,561 $2,080 
Servers and network assets68,397 46,838 
Buildings47,076 37,961 
Leasehold improvements7,293 6,972 
Equipment and other7,150 7,416 
Finance lease right-of-use assets5,384 4,185 
Construction in progress26,802 24,269 
Property and equipment, gross164,663 129,721 
Less: Accumulated depreciation(43,317)(33,134)
Property and equipment, net$121,346 $96,587 

Construction in progress includes costs mostly related to construction of data centers, network infrastructure and servers. Depreciation expense on property and equipment was $15.29 billion, $11.02 billion, and $8.50 billion for the years ended December 31, 2024, 2023, and 2022, respectively. Within property and equipment, our servers and network assets depreciation expenses were $11.34 billion, $7.32 billion, and $5.29 billion for the years ended December 31, 2024, 2023, and 2022, respectively. During the year ended December 31, 2024 and 2023, we capitalized $384 million and $283 million of interest expense related to certain eligible construction in progress assets, respectively.
During the year ended December 31, 2024, 2023, and 2022, total impairment losses, including restructuring charges, for property and equipment were $288 million, $738 million and $2.01 billion, respectively. For additional information, see Note 3 — Restructuring.
v3.24.4
Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases Leases
We have entered into various non-cancelable operating lease agreements mostly for our data centers, offices 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 2025 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,
202420232022
Finance lease cost:
Amortization of right-of-use assets$387 $349 $380 
Interest23 20 16 
Operating lease cost2,359 2,091 1,857 
Variable lease cost and other844 580 363 
Total$3,613 $3,040 $2,616 

We also recorded $385 million, $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, 2024, 2023, and 2022, respectively. For additional information, see Note 3 — Restructuring.
Supplemental balance sheet information related to lease liabilities is as follows:
December 31,
20242023
Weighted-average remaining lease term:
Finance leases13.7 years14.0 years
Operating leases 11.5 years11.6 years
Weighted-average discount rate:
Finance leases3.6 %3.4 %
Operating leases3.9 %3.7 %

The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2024 (in millions):
Operating LeasesFinance Leases
2025$2,657 $96 
20262,625 68 
20272,575 68 
20282,459 68 
20292,391 64 
Thereafter13,022 528 
Total undiscounted cash flows25,729 892 
Less: Imputed interest(5,495)(183)
Present value of lease liabilities (1)
$20,234 $709 
Lease liabilities, current$1,942 $76 
Lease liabilities, non-current18,292 633 
Present value of lease liabilities (1)
$20,234 $709 
_________________
(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, 2024, we have additional operating and finance leases, that have not yet commenced, with total lease obligations of approximately $34.12 billion, mostly for data centers, network infrastructure, and colocations. These operating and finance leases will commence between 2025 and 2030 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,
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases (1)
$2,830 $2,233 $1,654 
Operating cash flows for finance leases$23 $20 $16 
Financing cash flows for finance leases$1,969 $1,058 $850 
Lease liabilities arising from obtaining right-of-use assets:
Operating leases$3,784 $4,370 $4,366 
Finance leases$181 $588 $223 
_________________
(1)    Cash flows for operating leases during the year ended December 31, 2024 and 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 data centers, offices 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 2025 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,
202420232022
Finance lease cost:
Amortization of right-of-use assets$387 $349 $380 
Interest23 20 16 
Operating lease cost2,359 2,091 1,857 
Variable lease cost and other844 580 363 
Total$3,613 $3,040 $2,616 

We also recorded $385 million, $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, 2024, 2023, and 2022, respectively. For additional information, see Note 3 — Restructuring.
Supplemental balance sheet information related to lease liabilities is as follows:
December 31,
20242023
Weighted-average remaining lease term:
Finance leases13.7 years14.0 years
Operating leases 11.5 years11.6 years
Weighted-average discount rate:
Finance leases3.6 %3.4 %
Operating leases3.9 %3.7 %

The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2024 (in millions):
Operating LeasesFinance Leases
2025$2,657 $96 
20262,625 68 
20272,575 68 
20282,459 68 
20292,391 64 
Thereafter13,022 528 
Total undiscounted cash flows25,729 892 
Less: Imputed interest(5,495)(183)
Present value of lease liabilities (1)
$20,234 $709 
Lease liabilities, current$1,942 $76 
Lease liabilities, non-current18,292 633 
Present value of lease liabilities (1)
$20,234 $709 
_________________
(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, 2024, we have additional operating and finance leases, that have not yet commenced, with total lease obligations of approximately $34.12 billion, mostly for data centers, network infrastructure, and colocations. These operating and finance leases will commence between 2025 and 2030 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,
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases (1)
$2,830 $2,233 $1,654 
Operating cash flows for finance leases$23 $20 $16 
Financing cash flows for finance leases$1,969 $1,058 $850 
Lease liabilities arising from obtaining right-of-use assets:
Operating leases$3,784 $4,370 $4,366 
Finance leases$181 $588 $223 
_________________
(1)    Cash flows for operating leases during the year ended December 31, 2024 and 2023 include cash paid for terminations of certain operating leases.
v3.24.4
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill generated from our business acquisitions was primarily attributable to expected synergies and potential monetization opportunities. Changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2024 and 2023 are as follows (in millions):
Family of AppsReality LabsTotal
December 31, 2022$19,250 $1,056 $20,306 
Acquisitions— 357 357 
Adjustments(4)(5)(9)
December 31, 202319,246 1,408 20,654 
Acquisitions— — — 
December 31, 2024$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, 2024December 31, 2023
Weighted-Average Remaining Useful Lives
 (in years)		Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Acquired technology4.6$442 $(247)$195 $478 $(182)$296 
Acquired patents3.7252 (165)87 287 (233)54 
Acquired software2.7250 (58)192 — — — 
Other2.024 (8)16 28 (15)13 
Total finite-lived assets968 (478)490 793 (430)363 
Total indefinite-lived assetsN/A425 — 425 425 — 425 
Total$1,393 $(478)$915 $1,218 $(430)$788 

Amortization expense of intangible assets for the years ended December 31, 2024, 2023, and 2022 was $211 million, $161 million, and $185 million, respectively.

As of December 31, 2024, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in millions):
2025$205 
2026125 
202764 
202838 
202923 
Thereafter35 
Total$490 
v3.24.4
Long-term Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Long-term Debt Long-term Debt
As of December 31, 2024 and 2023, we had $29.0 billion and $18.50 billion of fixed-rate senior unsecured notes (the Notes), respectively, including $10.50 billion of Notes issued in August 2024. The following table summarizes the Notes and the carrying amount of our long-term debt (in millions, except percentages):
MaturityStated Interest RateEffective Interest RateDecember 31, 2024December 31, 2023
August 2022 Notes:2027 - 2062
3.50% - 4.65%
3.63% - 4.71%
$10,000 $10,000 
May 2023 Notes:2028 - 2063
4.60% - 5.75%
4.68% - 5.79%
8,500 8,500 
August 2024 Notes:2029 - 2064
4.30% - 5.55%
4.42% - 5.60%
10,500 — 
Total face amount of long-term debt29,000 18,500 
Unamortized discount and issuance costs, net(174)(115)
Long-term debt$28,826 $18,385 

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 Notes was $683 million, $420 million, and $160 million for the years ended December 31, 2024, 2023, and 2022, respectively.

The total estimated fair value of our outstanding Notes was $27.83 billion and $18.48 billion as of December 31, 2024 and 2023, respectively. The fair value is determined based on the quoted prices at the end of the reporting periods and categorized as Level 2 in the fair value hierarchy.

As of December 31, 2024, future principal payments for the Notes, by year, are as follows (in millions):
2025 through 2026$— 
20272,750 
20281,500 
20291,000 
Thereafter23,750 
Total$29,000 
v3.24.4
Accrued Expenses and Other Current Liabilities
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
Accrued Expenses and Other Current Liabilities Accrued Expenses and Other Current Liabilities
The components of accrued expenses and other current liabilities are as follows (in millions):
December 31,
20242023
Legal-related accruals (1)
$5,523 $6,592 
Accrued compensation and benefits6,350 6,659 
Accrued property and equipment2,582 2,213 
Accrued taxes3,438 3,655 
Other current liabilities6,074 6,369 
Total$23,967 $25,488 
_________________________
(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.
v3.24.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Contractual Commitments

We have $32.82 billion of non-cancelable contractual commitments as of December 31, 2024, which are primarily related to our investments in servers and network infrastructure, and content costs. The following is a schedule, by years, of non-cancelable contractual commitments as of December 31, 2024 (in millions):

2025$26,335 
20262,548 
2027812 
2028227 
2029153 
Thereafter2,749 
Total$32,824 

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. We enter into these agreements in order to secure price. Using the expected volume consumption, the total estimated spend related to our renewable energy agreements as of December 31, 2024 was approximately $24.97 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. Unless otherwise noted, 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. Two objectors appealed final approval (one of which was voluntarily dismissed as of June 24, 2024). The objection is fully briefed and will be heard on February 7, 2025. 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 inquiries and litigation and certain government inquiries in other jurisdictions remain ongoing. On June 1, 2023, the court presiding over the lawsuit filed by the District of Columbia granted our motion for summary judgment, resolving the case in our favor. On June 29, 2023, the District of Columbia filed a notice of appeal. The appeal is fully briefed and will be heard on January 30, 2025. Trial in the New Mexico Attorney General's case is scheduled to begin on December 1, 2025. 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. Trial is scheduled to begin on April 2, 2025.

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 then 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. Our motion for a stay pending appeal was denied in March 2024. The underlying appeal was then briefed and oral argument was held on November 5, 2024. The U.S. Court of Appeals for the District of Columbia Circuit has yet to rule.

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. On March 14, 2024, the district court denied our motion to preliminarily enjoin the FTC proceeding during the pendency of the litigation, and also denied the FTC's motion to dismiss our complaint without prejudice, pending the U.S. Supreme Court's decision in SEC v. Jarkesy (Jarkesy). Our motion for a stay of the FTC proceeding pending appeal was denied in March 2024. Both the district court action and the appeal were stayed pending the Supreme Court's decision in Jarkesy. Following the Supreme Court's ruling in Jarkesy on June 27, 2024, the government filed a renewed motion to dismiss, which was fully briefed as of October 18, 2024. The district court has yet to rule. The parties are required to report back to the circuit court within 30 days of the district court's disposition of the FTC's motion to dismiss.
On April 1, 2024, we filed our response to the FTC's Order to Show Cause, arguing, among other things, that the Order to Show Cause proceeding was legally improper. Per FTC orders, we completed briefing on threshold legal issues on July 18, 2024, and the FTC held oral argument before the Commissioners on those issues on November 12, 2024. On January 10, 2025, the Commission issued a decision on certain threshold legal issues, including that the Commission has statutory authority to modify consent orders. The Commission stated that its decision is subject to Meta’s jurisdictional challenges currently pending before the U.S. Court of Appeals for the District of Columbia Circuit in U.S. v. Facebook, Inc., and that the nature and scope of any further administrative proceedings would be addressed at a later date. Through the administrative process, the FTC could amend the order to impose the 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, issue similar notifications to European regulators under other laws (such as UK GDPR and Member State implementations of the ePrivacy Directive), and are subject to inquiries and investigations by the IDPC and other European regulators regarding various aspects of our regulatory compliance. For example, the IDPC is continuing to assess the compliance of our "subscription for no ads" consent model with requirements under the GDPR. In addition, 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.

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 Santa Clara County Superior Court). These cases are in different stages, but several of our motions to dismiss have been denied in whole or in part, while certain others have been granted in whole or in part. We are currently in discovery and litigating class certification in the cases that are most advanced.

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. On April 5, 2024, we filed our motion for summary judgment and the FTC filed its opposition and its own motion for partial summary judgment on May 24, 2024. On November 13, 2024, the court granted in part and denied in part both our and the FTC's motions for summary judgment. Trial is set to begin on April 14, 2025. 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. On December 30, 2024, we filed our motion for summary judgment 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. On November 18, 2024, the European Commission issued a decision that Meta infringed Article 102 on the Treaty of the Functioning of the European Union in relation to certain alleged business practices relating to Facebook Marketplace and imposed a fine of approximately EUR €798 million. We appealed the European Commission's decision on January 28, 2025.

In March 2024, the European Commission opened an investigation into the compliance of our "subscription for no ads" consent model with requirements under Article 5(2) of the Digital Markets Act. The European Commission issued preliminary findings on July 1, 2024 reflecting its preliminary view that our model does not comply with such requirements, and indicated that it will conclude its investigation by March 2025.

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 filed a petition for writ of certiorari on March 4, 2024 with the U.S. Supreme Court, seeking review of the Ninth Circuit's order. The Supreme Court granted in part our petition for writ of certiorari on June 10, 2024, and following oral argument issued an order on November 22, 2024 dismissing the grant of certiorari as improvidently granted.

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 September 30, 2024, the court dismissed certain claims with leave to amend, but determined certain claims regarding content enforcement practices and user well-being could proceed against us and certain of our current and former directors and officers.
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 and on September 17, 2024, the court dismissed the claims with prejudice. On October 14, 2024, plaintiffs filed their notice of appeal.

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, Brazil, and Canada on behalf of users in those jurisdictions, and numerous school districts, municipalities, and tribal nations have filed public nuisance claims in the United States, Brazil, and/or Canada based on similar allegations. On October 6, 2022, the U.S. 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). Beginning in March 2023, U.S. states and territories began filing 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), child sexual abuse material and other child safety concerns, as well as violations of state consumer protection laws, unfair business practices, public nuisance, and products liability, with proceedings focused on our alleged business practices (including the use of end-to-end encryption) 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. Beginning in November 2024, counsel for thousands of individual claimants began sending mass arbitration demands relating to “social media addiction” and related harms allegedly caused by Instagram.

We are also subject to government investigations and requests from multiple regulators in various jurisdictions globally concerning the use of our products and services, and the alleged mental and physical health and safety impacts on users, particularly younger users. On May 16, 2024, the European Commission opened formal proceedings assessing our compliance with certain requirements under Articles 28, 34, and 35 of the Digital Services Act (DSA), including the way in which we identified, assessed, and mitigated against certain systemic risks to minors and other vulnerable users that may stem from the design and functioning of Instagram and Facebook.

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 March 21, 2024, the U.S. Court of Appeals for the Ninth Circuit affirmed in part and reversed in part the order granting class certification. On May 3, 2024, we filed a petition for panel rehearing and rehearing en banc, which was denied by the Ninth Circuit. We filed a petition for a writ of certiorari with the U.S. Supreme Court on October 2, 2024, which was denied.

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., Chabon, et al. v. Meta Platforms, Inc. and Farnsworth 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. These cases have all been consolidated into Kadrey, et al. v. Meta Platforms, Inc.
On April 30, 2024, the European Commission opened formal proceedings against us to assess Facebook and Instagram's compliance with certain requirements under Articles 14, 16, 17, 20, 24, 25, 34, 35, and 40 of the DSA, regarding a range of topics including elections, content reporting and appeals, third-party access to data, political content recommendations, potential deceptive advertising and disinformation, including the way in which we identified, assessed, and mitigated against certain systemic risks on Instagram and Facebook. We are also responding to regulatory inquiries and litigation related to allegedly deceptive advertising, including but not limited to financial scams, in other parts of the world.

On September 18, 2024, staff of the Consumer Financial Protection Bureau (CFPB or Bureau) initiated a Notice and Opportunity to Respond and Advise (NORA) process related to its investigation of advertising for financial products and services on our platform, informing us that staff may recommend to the Director of the CFPB that the Bureau take legal action alleging violations of the Consumer Financial Protection Act, including based on our alleged receipt and use for advertising of financial information from third parties through certain advertising tools as well as our related user disclosures and controls, and provided us with an opportunity to respond. We disagree with the claims staff is considering and believe an enforcement action is unwarranted, and have responded through the NORA process. The result of the NORA process is uncertain at this time, but if the Director authorizes an action against us, the CFPB could file a lawsuit in the near-term and seek financial penalties and equitable 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, 2024, there was not a reasonable possibility we had incurred a material loss with respect to indemnification of such parties. Liabilities recorded for costs related to indemnification through December 31, 2024 were not material.
v3.24.4
Stockholders' Equity
 12 Months Ended
Dec. 31, 2024
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, 2024, 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, 2024, there were 2,190 million shares of Class A common stock and 344 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, 2023, $30.93 billion remained available and authorized for repurchases under this program. In January 2024, an additional $50 billion of repurchases was authorized under this program. In 2024, we repurchased and subsequently retired 65 million shares of our Class A common stock for an aggregate amount of $29.75 billion, which includes the 1% excise tax accruals as a result of the Inflation Reduction Act of 2022. As of December 31, 2024, $51.28 billion remained available and authorized for repurchases.

The timing and actual number of shares repurchased under the repurchase program depend on a variety of factors, including price, general business and market conditions, and other investment opportunities. Shares may be repurchased through open market purchases or privately negotiated transactions, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.

Dividend

Beginning in February 2024, our board of directors declared quarterly cash dividend of $0.50 per share to the holders of our Class A and Class B common stock. RSUs granted on or after March 1, 2024 under our 2012 Equity Incentive Plan (Amended 2012 Plan), which was most recently amended in May 2024, are entitled to dividend equivalent rights. During the year ended December 31, 2024, total dividend and dividend equivalent payments were $4.38 billion and $691 million for Class A and Class B common stock, respectively.

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 most recently amended in May 2024. 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.

As of December 31, 2024, there were 483 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, 
202420232022
Cost of revenue$1,055 $740 $768 
Research and development13,683 11,429 9,361 
Marketing and sales1,026 952 1,004 
General and administrative926 906 859 
Total$16,690 $14,027 $11,992 

The following table summarizes the activities for our unvested RSUs for the year ended December 31, 2024:
Number of SharesWeighted-Average Grant Date Fair Value Per Share
(in thousands)
Unvested at December 31, 2023149,062 $209.85 
Granted48,661 $506.80 
Vested(64,769)$250.76 
Forfeited(10,322)$255.04 
Unvested at December 31, 2024122,632 $302.27 

The weighted-average grant date fair value per share of RSUs granted in the years ended December 31, 2023 and 2022 was $202.46 and $195.66, respectively. The fair value as of the respective vesting dates of RSUs that vested during the years ended December 31, 2024, 2023, and 2022 was $33.14 billion, $17.46 billion, and $9.44 billion, respectively. The income tax benefit recognized related to awards vested during the years ended December 31, 2024, 2023, and 2022 was $6.95 billion, $3.65 billion, and $2.00 billion, respectively.

As of December 31, 2024, there was $34.79 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.
v3.24.4
Interest and Other Income (Expense), Net
 12 Months Ended
Dec. 31, 2024
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,
202420232022
Interest income$2,517 $1,639 $461 
Interest expense(715)(446)(185)
Foreign currency exchange losses, net(690)(366)(81)
Other income (expense), net171 (150)(320)
Total interest and other income (expense), net$1,283 $677 $(125)
v3.24.4
Income Taxes
 12 Months Ended
Dec. 31, 2024
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, 
 202420232022
Domestic$66,342 $43,499 $25,025 
Foreign4,321 3,929 3,794 
Income before provision for income taxes$70,663 $47,428 $28,819 

The provision for income taxes consists of the following (in millions):
 Year Ended December 31, 
 202420232022
Current:   
Federal$9,569 $4,934 $6,094 
State775 577 874 
Foreign2,696 2,688 1,928 
Total current tax expense13,040 8,199 8,896 
Deferred:   
Federal(4,709)67 (2,776)
State(43)123 (405)
Foreign15 (59)(96)
Total deferred tax (benefits)/expense(4,737)131 (3,277)
Provision for income taxes$8,303 $8,330 $5,619 
 
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, 
 202420232022
U.S. federal statutory income tax rate21.0 %21.0 %21.0 %
State income taxes, net of federal benefit0.7 1.1 1.0 
Share-based compensation(3.7)(0.6)2.6 
Research and development tax credits(2.9)(1.5)(2.4)
Foreign-derived intangible income deduction(4.9)(4.3)(7.0)
Effect of non-U.S. operations0.2 0.9 3.0 
Other1.4 1.0 1.3 
Effective tax rate11.8 %17.6 %19.5 %
Our deferred tax assets (liabilities) are as follows (in millions):
 December 31, 
 20242023
Deferred tax assets:  
Loss carryforwards$289 $353 
Tax credit carryforwards2,771 2,028 
Share-based compensation520 459 
Accrued expenses and other liabilities2,223 2,168 
Lease liabilities3,940 3,752 
Capitalized research and development16,743 9,292 
Unrealized losses in securities and investments115 232 
Other442 487 
Total deferred tax assets27,043 18,771 
Less: valuation allowance(3,506)(2,879)
Deferred tax assets, net of valuation allowance23,537 15,892 
Deferred tax liabilities:  
Depreciation and amortization(10,959)(8,320)
Right-of-use assets(3,000)(2,708)
Total deferred tax liabilities(13,959)(11,028)
Net deferred tax assets$9,578 $4,864 

The valuation allowance was approximately $3.51 billion and $2.88 billion as of December 31, 2024 and 2023, respectively, mostly related to U.S. state tax credit carryforwards, U.S. foreign tax credits, and unrealized losses in marketable securities.

As of December 31, 2024, our state net operating loss carryforwards were $2.36 billion, which will begin to expire in 2031, if not utilized. We have federal tax credit carryforwards of $595 million, which will begin to expire in 2029, if not utilized, and state tax credit carryforwards of $5.47 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, 
 202420232022
Gross unrecognized tax benefits ‑ beginning of period$11,666 $10,757 $9,807 
Increases related to prior year tax positions685 168 210 
Decreases related to prior year tax positions(6)(263)(172)
Increases related to current year tax positions2,882 1,204 1,166 
Decreases related to settlements of prior year tax positions(9)(199)(254)
Decreases related to lapses of statute of limitations(87)(1)— 
Gross unrecognized tax benefits ‑ end of period$15,131 $11,666 $10,757 
These unrecognized tax benefits were primarily accrued for the uncertainties with our research tax credits and transfer pricing with our foreign subsidiaries, which include licensing of intellectual property, providing services and other transactions. 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, 2024, 2023, and 2022 were $2.21 billion, $1.48 billion, and $1.07 billion, respectively.

If our gross unrecognized tax benefits of $15.13 billion as of December 31, 2024 were realized in a future period, this would result in a tax benefit of $10.11 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. We are under examination by the Irish Revenue Commissioners for our 2020 tax year and our 2021 and subsequent tax years remain open to examination.

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 2025 which will likely provide a transfer pricing value for intellectual property transferred. This value will need to be extrapolated into income adjustments to determine the specific tax liability, which will likely remain in dispute and will not be resolved until the Tax Court enters a decision. 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. Once the Tax Court decision is entered, the IRS and Meta will each have the option to file an appeal to the Ninth Circuit Court of Appeals.

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, 2024, 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.
v3.24.4
Segment and Geographical Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [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 virtual, augmented, and mixed 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, and legal-related costs. Indirect costs are allocated to segments based on a reasonable allocation methodology, when such costs are significant to the performance measures of the operating segments. Indirect operating expenses, such as facilities, information technology, certain shared research and development activities, recruiting, and physical security expenses are mostly allocated based on headcount. Costs related to the operation of our data centers and technical infrastructure are generally allocated to our segments based on estimated usage, most of which is allocated to the FoA segment.

Beginning in 2024 annual reporting, we adopted ASU 2023-07 retrospectively. The following table sets forth our segment information of revenue, expenses, and income (loss) from operations (in millions):
 Year Ended December 31, 
 202420232022
Family of Apps:
Revenue$162,355 $133,006 $114,450 
Employee compensation (1)
(31,116)(28,878)(28,545)
Other costs and expenses (2)
(44,130)(41,257)(43,244)
Income from operations$87,109 $62,871 $42,661 
Reality Labs:
Revenue$2,146 $1,896 $2,159 
Employee compensation (1)
(10,211)(8,942)(7,766)
Other costs and expenses (3)
(9,664)(9,074)(8,110)
Loss from operations$(17,729)$(16,120)$(13,717)
Total:
Revenue$164,501 $134,902 $116,609 
Employee compensation (1)
(41,327)(37,820)(36,311)
Other costs and expenses(53,794)(50,331)(51,354)
Income from operations$69,380 $46,751 $28,944 
____________________________________
(1)Employee compensation includes employee payroll, share-based compensation, bonus, and employee benefits for medical care, retirement, insurances and other.
(2)Includes costs and expenses in FoA segment for infrastructure, professional services, partner arrangements, marketing, facilities, legal-related costs, and other expenses.
(3)Includes costs and expenses in RL segment for inventory, professional services, marketing, infrastructure, facilities, and other expenses.
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,
 20242023
United States$117,478 $91,940 
Rest of the world (1)
18,790 17,941 
Total long-lived assets$136,268 $109,881 
_________________________
(1)No individual country, other than disclosed above, exceeded 10% of our total long-lived assets for any period presented.

For information regarding revenue disaggregated by geography, see Note 2 — Revenue.
v3.24.4
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net income $ 62,360 $ 39,098 $ 23,200
v3.24.4
Insider Trading Arrangements
 3 Months Ended 12 Months Ended
Dec. 31, 2024
shares
Dec. 31, 2024
shares
Trading Arrangements, by Individual    
Non-Rule 10b5-1 Arrangement Adopted false  
Rule 10b5-1 Arrangement Terminated false  
Non-Rule 10b5-1 Arrangement Terminated false  
Peggy Alford [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On November 27, 2024, Peggy Alford, a member of our board of directors, entered into a trading plan that provides for the sale of an aggregate of up to $1.2 million worth of shares of our Class A common stock. The plan will terminate on November 15, 2025, subject to early termination for certain specified events set forth in the plan.
Name Peggy Alford  
Title member of our board of directors  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date November 27, 2024  
Expiration Date November 15, 2025  
Arrangement Duration 353 days  
Christopher K. Cox [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On November 27, 2024, Christopher K. Cox, our Chief Product Officer, entered into a trading plan that provides for the sale of an aggregate of up to 60,000 shares of our Class A common stock. The plan will terminate on February 20, 2026, subject to early termination for certain specified events set forth in the plan.
Name Christopher K. Cox  
Title Chief Product Officer  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date November 27, 2024  
Expiration Date February 20, 2026  
Arrangement Duration 450 days  
Aggregate Available 60,000 60,000
v3.24.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.24.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
At Meta, cybersecurity risk management is an important part of our overall risk management efforts. Our industry is prone to cybersecurity threats and attacks, and we regularly experience cybersecurity incidents of varying degrees. We believe we are a particularly attractive target as a result of our prominence and scale, the types and volume of personal data and content on our systems, and the evolving nature of our products and services. Our products and services reach billions of users and involve the collection, storage, processing, and transmission of a large amount of data. In addition, our business and operations span numerous geographies around the world, involve thousands of employees, contractors, vendors, developers, partners, and other third parties, and rely on software and hardware that is highly technical and complex. We maintain an information security program that is comprised of policies and controls designed to mitigate cybersecurity risk. However, at any given time, we face known and unknown cybersecurity risks and threats that are not fully mitigated, and we discover vulnerabilities in our program. We continuously work to enhance our information security program and risk management efforts.

We use a risk management framework based on applicable laws and regulations, and informed by industry standards and industry-recognized practices, for managing cybersecurity risks within our products and services, infrastructure, and corporate resources. To identify and assess risks from cybersecurity threats, we evaluate a variety of developments including threat intelligence, first- and third-party vulnerabilities, evolving regulatory requirements, and observed cybersecurity incidents, among others. We regularly conduct risk assessments to evaluate the maturity and effectiveness of our systems and processes in addressing cybersecurity threats and to identify areas for remediation and opportunities for enhancements. We also engage third-party security experts and consultants to assist with assessment and enhancement of our cybersecurity risk management processes, as well as benchmarking against industry practices. However, we may not be successful in fully addressing such areas for remediation or enhancement. In addition, we maintain a privacy risk management program to assess privacy risks related to how we are collecting, using, sharing, and storing user data, which is subject to assessment by an independent, third-party privacy assessor. Our internal audit function provides independent assessment and assurance on the overall operations of our cybersecurity and privacy programs and the supporting control frameworks. These processes
support informed risk-based decision-making and prioritization of cybersecurity countermeasures and risk mitigation strategies. Our risk mitigation strategies include a broad variety of technical and operational measures, as well as annual cybersecurity and privacy training for all of our employees.

In addition, we maintain specific policies and practices governing our third-party security risks, including our third-party assessment (TPA) process. Under our TPA process, we gather information from certain third parties who contract with Meta and share or receive data, or have access to or integrate with our systems, in order to help us assess potential risks associated with their security controls. We also generally require third parties to, among other things, maintain security controls to protect our confidential information and data, and notify us of material data breaches that may impact our data.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] We use a risk management framework based on applicable laws and regulations, and informed by industry standards and industry-recognized practices, for managing cybersecurity risks within our products and services, infrastructure, and corporate resources. To identify and assess risks from cybersecurity threats, we evaluate a variety of developments including threat intelligence, first- and third-party vulnerabilities, evolving regulatory requirements, and observed cybersecurity incidents, among others. We regularly conduct risk assessments to evaluate the maturity and effectiveness of our systems and processes in addressing cybersecurity threats and to identify areas for remediation and opportunities for enhancements. We also engage third-party security experts and consultants to assist with assessment and enhancement of our cybersecurity risk management processes, as well as benchmarking against industry practices. However, we may not be successful in fully addressing such areas for remediation or enhancement. In addition, we maintain a privacy risk management program to assess privacy risks related to how we are collecting, using, sharing, and storing user data, which is subject to assessment by an independent, third-party privacy assessor. Our internal audit function provides independent assessment and assurance on the overall operations of our cybersecurity and privacy programs and the supporting control frameworks.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Our board of directors has oversight of our strategic and business risk management and has delegated cybersecurity risk management oversight to the audit & risk oversight committee of our board of directors (Audit & Risk Oversight Committee). Our Audit & Risk Oversight Committee is responsible for ensuring that management has processes in place designed to identify and evaluate cybersecurity risks to which the company is exposed and to implement processes and programs to manage cybersecurity risks and mitigate cybersecurity incidents. The privacy & product compliance committee of our board of directors (Privacy & Product Compliance Committee) oversees risks related to privacy and data use, including overseeing compliance with our comprehensive privacy program. Management is responsible for identifying, assessing, and managing material cybersecurity risks on an ongoing basis, establishing processes to ensure that such potential cybersecurity risk exposures are monitored, putting in place appropriate mitigation measures, maintaining cybersecurity policies and procedures, and providing regular reports to our board of directors, including through the Audit & Risk Oversight Committee and Privacy & Product Compliance Committee.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Our Chief Information Security Officer (CISO), Guy Rosen, leads our cybersecurity program and oversees teams across the company supporting our security functions of identify, prevent, detect, respond, and recover.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Our CISO is part of the senior management team at the company and regularly updates the Audit & Risk Oversight Committee on the company’s cybersecurity program, including cybersecurity risks, incidents, and mitigation strategies.
Cybersecurity Risk Role of Management [Text Block] Management is responsible for identifying, assessing, and managing material cybersecurity risks on an ongoing basis, establishing processes to ensure that such potential cybersecurity risk exposures are monitored, putting in place appropriate mitigation measures, maintaining cybersecurity policies and procedures, and providing regular reports to our board of directors, including through the Audit & Risk Oversight Committee and Privacy & Product Compliance Committee.
Our Chief Information Security Officer (CISO), Guy Rosen, leads our cybersecurity program and oversees teams across the company supporting our security functions of identify, prevent, detect, respond, and recover. These teams are comprised of personnel with a broad range of experience across the private and public sectors, the technology industry, and different geographic regions. Mr. Rosen has two decades of experience in various cybersecurity, software development, product management, and other technology-related roles. Mr. Rosen has served in a number of significant leadership roles at our company since 2013, including oversight of security, safety, and integrity initiatives, and was appointed as our CISO in 2022. Prior to joining our company, Mr. Rosen served in senior leadership, engineering, and operational roles across technology organizations.

Our cybersecurity teams monitor the prevention, detection, mitigation, and remediation of cybersecurity incidents through a variety of technical and operational measures, and regularly report to our CISO. Our CISO is part of the senior management team at the company and regularly updates the Audit & Risk Oversight Committee on the company’s cybersecurity program, including cybersecurity risks, incidents, and mitigation strategies.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our Chief Information Security Officer (CISO), Guy Rosen, leads our cybersecurity program and oversees teams across the company supporting our security functions of identify, prevent, detect, respond, and recover.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Mr. Rosen has two decades of experience in various cybersecurity, software development, product management, and other technology-related roles. Mr. Rosen has served in a number of significant leadership roles at our company since 2013, including oversight of security, safety, and integrity initiatives, and was appointed as our CISO in 2022. Prior to joining our company, Mr. Rosen served in senior leadership, engineering, and operational roles across technology organizations.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
Our Chief Information Security Officer (CISO), Guy Rosen, leads our cybersecurity program and oversees teams across the company supporting our security functions of identify, prevent, detect, respond, and recover. These teams are comprised of personnel with a broad range of experience across the private and public sectors, the technology industry, and different geographic regions. Mr. Rosen has two decades of experience in various cybersecurity, software development, product management, and other technology-related roles. Mr. Rosen has served in a number of significant leadership roles at our company since 2013, including oversight of security, safety, and integrity initiatives, and was appointed as our CISO in 2022. Prior to joining our company, Mr. Rosen served in senior leadership, engineering, and operational roles across technology organizations.

Our cybersecurity teams monitor the prevention, detection, mitigation, and remediation of cybersecurity incidents through a variety of technical and operational measures, and regularly report to our CISO. Our CISO is part of the senior management team at the company and regularly updates the Audit & Risk Oversight Committee on the company’s cybersecurity program, including cybersecurity risks, incidents, and mitigation strategies.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.24.4
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2024
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.
Balance Sheets Reclassifications
Balance Sheets Reclassifications

Certain prior period amounts on the consolidated balance sheets have been reclassified to conform to current period presentation.

•Intangible assets, net was reclassified into other assets
•Partners payable was reclassified into accrued expenses and other current liabilities
•Long-term income taxes was reclassified out of other liabilities

These reclassifications had no impact on our previously reported total assets, total liabilities, revenue, income from operations, net income or cash flows.
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 for the reported periods.

Reality Labs Revenue

RL revenue is generated from the delivery of consumer hardware products, such as Meta Quest and Ray-Ban Meta AI glasses, 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

FoA other revenue consists of revenue from WhatsApp Business Platform, Meta Verified subscriptions, 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, employee compensation which includes payroll, share-based compensation and benefits for employees on our operations teams, and energy and bandwidth costs. Cost of revenue also consists of 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 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
Advertising costs are expensed when incurred and are included in marketing and sales expenses on our consolidated statements of income.
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 debt securities, consisting of U.S. government securities, U.S. government agency securities, and investment grade corporate debt securities. We classify our marketable debt 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. 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 also hold investments in marketable equity securities that are publicly traded stocks. We classify these equity securities as marketable securities within current assets on our consolidated balance sheets because they are available to be converted into cash to fund current operations without any restriction. These marketable equity securities are measured at fair value at each reporting date with the resulted unrealized gains and losses recognized in interest and other income (expense), net on our consolidated statements of income.

We classify certain restricted cash balances, consisting mostly of cash related to insurance policies, cash reserves designated for a specific purpose, as well as 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
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 its carrying amount, we write down the investment to fair value. The change in carrying value, resulted from the remeasurements, is recognized in interest and other income (expense), net on our consolidated statements of income.
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, marketable securities, and restricted cash equivalents are classified within Level 1 or Level 2 of the fair value hierarchy because their fair values are 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 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.
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.
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.

The useful lives of our property and equipment are management's estimates when the assets are initially recognized and are routinely reviewed for the remaining estimated useful lives. Our 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 equipment mostly in our data centers, which is used to support production traffic. Land and assets held within construction in progress (CIP) are not depreciated. CIP assets are related to the construction or development of property and equipment that have not yet been placed in service for their intended use. We also 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 data centers, offices, and colocations. We also have finance leases for certain network infrastructure. We determine if an arrangement is a lease at inception and 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, 2024, 2023 and 2022, we recorded net impairment losses of $383 million, $2.43 billion, and $2.22 billion, respectively, 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, 2024, 2023 and 2022, we recorded net impairment losses of $383 million, $2.43 billion, and $2.22 billion, respectively, 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

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. We record such losses as general and administrative expenses on our consolidated statements of income.
If we determine that a loss is probable or reasonably possible and the loss or range of loss can be reasonably estimated, we disclose the possible loss in the accompanying notes to the consolidated financial statements to the extent material.
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, Family of Apps (FoA) and Reality Labs (RL), subject to goodwill impairment testing. As of December 31, 2024, 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 a finite-lived intangible asset is not recoverable and the asset's fair value is less than the carrying amount, an impairment charge is recognized. The impairment charges of finite-lived intangible assets were not material during the reporting periods 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. Intangible assets are included within other assets on our consolidated balance sheet.
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, 2024 and 2023, we had cumulative translation losses, net of tax, of $2.66 billion and $1.24 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 $690 million, $366 million, and $81 million for the years ended December 31, 2024, 2023, and 2022, 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 debt securities, and accounts receivable. Cash equivalents consists mostly of money market funds, that primarily invest in U.S. government and agency securities. Marketable debt 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 debt 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, 2024 was not material.

Accounts receivable are typically unsecured and are derived from revenue earned from customers across different industries and countries. We generated 36%, 37%, and 40% of our revenue for the years ended December 31, 2024, 2023, and 2022, respectively, from marketers and developers based in the United States, with a majority of the revenue outside of the United States in 2024 coming from customers located in western Europe, China, Brazil, Australia, India and Canada.

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, 2024, 2023, and 2022. 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, 2024, 2023, and 2022.
Recently Adopted Accounting Pronouncements & Accounting Pronouncements Not Yet Adopted
Recently Adopted Accounting Pronouncements

Beginning in 2024 annual reporting, we adopted Accounting Standards Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07) that was issued by the Financial Accounting Standards Board (FASB). This new standard requires an enhanced disclosure of significant segment expenses on an annual and interim basis. Upon adoption, the guidance was applied retrospectively to all prior periods presented in the financial statements, which resulted in the disclosure of employee compensation costs for each reportable segment. For additional information, see Note 16 — Segment and Geographical Information.

Accounting Pronouncements Not Yet Adopted

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 new standard will be effective for the annual periods beginning the year ended December 31, 2025. The new standard permits early adoption and 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.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (ASU 2024-03). The new guidance requires disaggregated information about certain income statement expense line items on an annual and interim basis. This guidance will be effective for annual periods beginning the year ended December 31, 2027 and for interim periods thereafter. The new standard permits early adoption and can be applied prospectively or retrospectively. We are evaluating the effect that this guidance will have on our consolidated financial statements and related disclosures.
Earnings Per Share
The holders of our Class A and Class B common stock (together, "common stock") have identical liquidation and dividend rights but different voting rights. Accordingly, we present the earnings per share (EPS) for Class A and Class B common stock together.
Basic EPS is computed by dividing net income by the weighted-average number of shares of our common stock outstanding. Diluted EPS is computed by dividing net income by the weighted-average number of fully diluted common stock outstanding and assumes the conversion of our Class B common stock to Class A common stock.
v3.24.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
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 as of December 31, 2024 are described below:
Property and Equipment 
Useful Life/ Amortization period
Servers and network assets
Four to Five years (1)
Buildings
25 to 30 years
Equipment and other
One to 25 years
Finance lease right-of-use assets
Five to 20 years
Leasehold improvementsLesser of estimated useful life or remaining lease term
_______________________
(1)Effective January 2025, the useful lives of certain servers and network assets are extended to 5.5 years.
v3.24.4
Revenue (Tables)
 12 Months Ended
Dec. 31, 2024
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, 
202420232022
Advertising$160,633 $131,948 $113,642 
Other revenue1,722 1,058 808 
Family of Apps162,355 133,006 114,450 
Reality Labs2,146 1,896 2,159 
Total revenue$164,501 $134,902 $116,609 

Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions):
 Year Ended December 31, 
 202420232022
United States and Canada (1)
$63,207 $52,888 $50,150 
Europe (3)
38,361 31,210 26,681 
Asia-Pacific (2)
45,009 36,154 27,760 
Rest of World (3)
17,924 14,650 12,018 
Total revenue$164,501 $134,902 $116,609 
_________________________
(1)United States revenue was $59.73 billion, $49.78 billion, and $47.20 billion for the years ended December 31, 2024, 2023, and 2022, respectively.
(2)China revenue was $18.35 billion, $13.69 billion, and $7.40 billion for the years ended December 31, 2024, 2023, and 2022, respectively.
(3)Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East.
v3.24.4
Restructuring (Tables)
 12 Months Ended
Dec. 31, 2024
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, 2024, 2023, and 2022, including subsequent adjustments, is as follows (in millions):
Year Ended December 31,
2024 (1)
20232022
Cost of revenue$31 $(47)$1,495 
Research and development254 1,572 1,719 
Marketing and sales54 395 638 
General and administrative50 335 759 
Total$389 $2,255 $4,611 
________________________
(1)The 2024 charges are all related to facilities consolidation.
Plan to Date
Facilities ConsolidationSeverance and Other Personnel CostsData Center AssetsTotal
Cost of revenue$362 $— $1,116 $1,478 
Research and development3,146 399 — 3,545 
Marketing and sales854 233 — 1,087 
General and administrative828 316 — 1,144 
Total$5,190 $948 $1,116 $7,254 
v3.24.4
Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2024
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,
 2024
2023 (2)
2022 (2)
Basic EPS:   
Numerator   
Distributed earnings$5,072 $— $— 
Undistributed earnings57,288 39,098 23,200 
Net income$62,360 $39,098 $23,200 
Denominator   
Shares used in computation of basic EPS (1)
2,534 2,574 2,687 
Basic EPS$24.61 $15.19 $8.63 
Diluted EPS: 
Numerator   
Net income for diluted EPS$62,360 $39,098 $23,200 
Denominator   
Shares used in computation of basic EPS (1)
2,534 2,574 2,687 
Effect of dilutive RSUs80 55 15 
Shares used in computation of diluted EPS2,614 2,629 2,702 
Diluted EPS$23.86 $14.87 $8.59 
____________________________________
(1)Includes 2,189 million, 2,220 million, and 2,285 million shares of Class A common stock and 345 million, 354 million, and 402 million shares of Class B common stock, for the years ended December 31, 2024, 2023, and 2022, respectively.
(2)The prior period EPS for Class A and Class B common stock has been presented together to conform with current period presentation, which had no impact on our previously reported basic or diluted EPS.
v3.24.4
Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
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
DescriptionDecember 31, 2024Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash equivalents:
Money market funds$36,165 $36,165 $— $— 
U.S. government and agency securities23 23 — — 
Time deposits369 — 369 — 
Corporate debt securities114 — 114 — 
Total cash equivalents36,671 36,188 483 — 
Marketable securities:
U.S. government securities14,889 14,889 — — 
U.S. government agency securities3,053 3,053 — — 
Corporate debt securities14,758 — 14,758 — 
Marketable equity securities1,226 1,226 — — 
Total marketable securities33,926 19,168 14,758 — 
Restricted cash equivalents1,193 1,193 — — 
Other assets101 — — 101 
Total$71,891 $56,549 $15,241 $101 
  Fair Value Measurement at Reporting Date Using
DescriptionDecember 31, 2023Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash equivalents:
Money market funds$32,910 $32,910 $— $— 
U.S. government and agency securities2,206 2,206 — — 
Time deposits261 — 261 — 
Corporate debt securities220 — 220 — 
Total cash equivalents35,597 35,116 481 — 
Marketable securities:
U.S. government securities8,439 8,439 — — 
U.S. government agency securities3,498 3,498 — — 
Corporate debt securities11,604 — 11,604 — 
Total marketable securities23,541 11,937 11,604 — 
Restricted cash equivalents857 857 — — 
Other assets101 — — 101 
Total$60,096 $47,910 $12,085 $101 
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, 2024 and 2023, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions):
December 31, 2024
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$6,860 $(71)$4,330 $(146)$11,190 $(217)
U.S. government agency securities435 (2)2,083 (44)2,518 (46)
Corporate debt securities2,989 (26)6,373 (192)9,362 (218)
Total$10,284 $(99)$12,786 $(382)$23,070 $(481)
    
December 31, 2023
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$336 $(1)$7,041 $(275)$7,377 $(276)
U.S. government agency securities71 — 3,225 (164)3,296 (164)
Corporate debt securities647 (3)10,125 (491)10,772 (494)
Total$1,054 $(4)$20,391 $(930)$21,445 $(934)
Marketable Securities by Contractual Maturities
The following table classifies our marketable debt securities by contractual maturities (in millions):
December 31, 2024
Due within one year$7,847 
Due after one year to five years24,853 
Total$32,700 
v3.24.4
Non-marketable Equity Securities (Tables)
 12 Months Ended
Dec. 31, 2024
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,
20242023
Non-marketable equity securities under measurement alternative:
Initial cost$6,342 $6,389 
Cumulative upward adjustments300 293 
Cumulative impairment/downward adjustments(624)(599)
Carrying value6,018 6,083 
Non-marketable equity securities under equity method52 58 
Total non-marketable equity securities$6,070 $6,141 
v3.24.4
Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment
Property and equipment, net consists of the following (in millions):
 December 31,
 20242023
Land$2,561 $2,080 
Servers and network assets68,397 46,838 
Buildings47,076 37,961 
Leasehold improvements7,293 6,972 
Equipment and other7,150 7,416 
Finance lease right-of-use assets5,384 4,185 
Construction in progress26,802 24,269 
Property and equipment, gross164,663 129,721 
Less: Accumulated depreciation(43,317)(33,134)
Property and equipment, net$121,346 $96,587 
v3.24.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Components of Lease Costs
The components of lease costs are as follows (in millions):
Year Ended December 31,
202420232022
Finance lease cost:
Amortization of right-of-use assets$387 $349 $380 
Interest23 20 16 
Operating lease cost2,359 2,091 1,857 
Variable lease cost and other844 580 363 
Total$3,613 $3,040 $2,616 
Lease, Balance Sheet Information
Supplemental balance sheet information related to lease liabilities is as follows:
December 31,
20242023
Weighted-average remaining lease term:
Finance leases13.7 years14.0 years
Operating leases 11.5 years11.6 years
Weighted-average discount rate:
Finance leases3.6 %3.4 %
Operating leases3.9 %3.7 %
Schedule of Maturities of Finance Lease Liabilities
The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2024 (in millions):
Operating LeasesFinance Leases
2025$2,657 $96 
20262,625 68 
20272,575 68 
20282,459 68 
20292,391 64 
Thereafter13,022 528 
Total undiscounted cash flows25,729 892 
Less: Imputed interest(5,495)(183)
Present value of lease liabilities (1)
$20,234 $709 
Lease liabilities, current$1,942 $76 
Lease liabilities, non-current18,292 633 
Present value of lease liabilities (1)
$20,234 $709 
_________________
(1)    Lease liabilities include operating leases under restructuring as a part of our facilities consolidation efforts. For additional information, see Note 3 — Restructuring
Schedule of Maturities of Operating Lease Liabilities
The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2024 (in millions):
Operating LeasesFinance Leases
2025$2,657 $96 
20262,625 68 
20272,575 68 
20282,459 68 
20292,391 64 
Thereafter13,022 528 
Total undiscounted cash flows25,729 892 
Less: Imputed interest(5,495)(183)
Present value of lease liabilities (1)
$20,234 $709 
Lease liabilities, current$1,942 $76 
Lease liabilities, non-current18,292 633 
Present value of lease liabilities (1)
$20,234 $709 
_________________
(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,
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases (1)
$2,830 $2,233 $1,654 
Operating cash flows for finance leases$23 $20 $16 
Financing cash flows for finance leases$1,969 $1,058 $850 
Lease liabilities arising from obtaining right-of-use assets:
Operating leases$3,784 $4,370 $4,366 
Finance leases$181 $588 $223 
_________________
(1)    Cash flows for operating leases during the year ended December 31, 2024 and 2023 include cash paid for terminations of certain operating leases.
v3.24.4
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
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, 2024 and 2023 are as follows (in millions):
Family of AppsReality LabsTotal
December 31, 2022$19,250 $1,056 $20,306 
Acquisitions— 357 357 
Adjustments(4)(5)(9)
December 31, 202319,246 1,408 20,654 
Acquisitions— — — 
December 31, 2024$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, 2024December 31, 2023
Weighted-Average Remaining Useful Lives
 (in years)		Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Acquired technology4.6$442 $(247)$195 $478 $(182)$296 
Acquired patents3.7252 (165)87 287 (233)54 
Acquired software2.7250 (58)192 — — — 
Other2.024 (8)16 28 (15)13 
Total finite-lived assets968 (478)490 793 (430)363 
Total indefinite-lived assetsN/A425 — 425 425 — 425 
Total$1,393 $(478)$915 $1,218 $(430)$788 
Schedule of Estimated Amortization Expense for Unamortized Acquired Intangible Assets
As of December 31, 2024, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in millions):
2025$205 
2026125 
202764 
202838 
202923 
Thereafter35 
Total$490 
v3.24.4
Long-term Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments The following table summarizes the Notes and the carrying amount of our long-term debt (in millions, except percentages):
MaturityStated Interest RateEffective Interest RateDecember 31, 2024December 31, 2023
August 2022 Notes:2027 - 2062
3.50% - 4.65%
3.63% - 4.71%
$10,000 $10,000 
May 2023 Notes:2028 - 2063
4.60% - 5.75%
4.68% - 5.79%
8,500 8,500 
August 2024 Notes:2029 - 2064
4.30% - 5.55%
4.42% - 5.60%
10,500 — 
Total face amount of long-term debt29,000 18,500 
Unamortized discount and issuance costs, net(174)(115)
Long-term debt$28,826 $18,385 
Schedule of Maturities of Long-Term Debt
As of December 31, 2024, future principal payments for the Notes, by year, are as follows (in millions):
2025 through 2026$— 
20272,750 
20281,500 
20291,000 
Thereafter23,750 
Total$29,000 
v3.24.4
Accrued Expenses and Other Current Liabilities (Tables)
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [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,
20242023
Legal-related accruals (1)
$5,523 $6,592 
Accrued compensation and benefits6,350 6,659 
Accrued property and equipment2,582 2,213 
Accrued taxes3,438 3,655 
Other current liabilities6,074 6,369 
Total$23,967 $25,488 
_________________________
(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.
v3.24.4
Commitment and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2024
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, 2024 (in millions):
2025$26,335 
20262,548 
2027812 
2028227 
2029153 
Thereafter2,749 
Total$32,824 
v3.24.4
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2024
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, 
202420232022
Cost of revenue$1,055 $740 $768 
Research and development13,683 11,429 9,361 
Marketing and sales1,026 952 1,004 
General and administrative926 906 859 
Total$16,690 $14,027 $11,992 
Schedule of Restricted Stock Units Award Activity
The following table summarizes the activities for our unvested RSUs for the year ended December 31, 2024:
Number of SharesWeighted-Average Grant Date Fair Value Per Share
(in thousands)
Unvested at December 31, 2023149,062 $209.85 
Granted48,661 $506.80 
Vested(64,769)$250.76 
Forfeited(10,322)$255.04 
Unvested at December 31, 2024122,632 $302.27 
v3.24.4
Interest and Other Income (Expense), Net (Tables)
 12 Months Ended
Dec. 31, 2024
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,
202420232022
Interest income$2,517 $1,639 $461 
Interest expense(715)(446)(185)
Foreign currency exchange losses, net(690)(366)(81)
Other income (expense), net171 (150)(320)
Total interest and other income (expense), net$1,283 $677 $(125)
v3.24.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
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, 
 202420232022
Domestic$66,342 $43,499 $25,025 
Foreign4,321 3,929 3,794 
Income before provision for income taxes$70,663 $47,428 $28,819 
Schedule of Provision for Income Taxes
The provision for income taxes consists of the following (in millions):
 Year Ended December 31, 
 202420232022
Current:   
Federal$9,569 $4,934 $6,094 
State775 577 874 
Foreign2,696 2,688 1,928 
Total current tax expense13,040 8,199 8,896 
Deferred:   
Federal(4,709)67 (2,776)
State(43)123 (405)
Foreign15 (59)(96)
Total deferred tax (benefits)/expense(4,737)131 (3,277)
Provision for income taxes$8,303 $8,330 $5,619 
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, 
 202420232022
U.S. federal statutory income tax rate21.0 %21.0 %21.0 %
State income taxes, net of federal benefit0.7 1.1 1.0 
Share-based compensation(3.7)(0.6)2.6 
Research and development tax credits(2.9)(1.5)(2.4)
Foreign-derived intangible income deduction(4.9)(4.3)(7.0)
Effect of non-U.S. operations0.2 0.9 3.0 
Other1.4 1.0 1.3 
Effective tax rate11.8 %17.6 %19.5 %
Schedule of Deferred Tax Assets and Liabilities
Our deferred tax assets (liabilities) are as follows (in millions):
 December 31, 
 20242023
Deferred tax assets:  
Loss carryforwards$289 $353 
Tax credit carryforwards2,771 2,028 
Share-based compensation520 459 
Accrued expenses and other liabilities2,223 2,168 
Lease liabilities3,940 3,752 
Capitalized research and development16,743 9,292 
Unrealized losses in securities and investments115 232 
Other442 487 
Total deferred tax assets27,043 18,771 
Less: valuation allowance(3,506)(2,879)
Deferred tax assets, net of valuation allowance23,537 15,892 
Deferred tax liabilities:  
Depreciation and amortization(10,959)(8,320)
Right-of-use assets(3,000)(2,708)
Total deferred tax liabilities(13,959)(11,028)
Net deferred tax assets$9,578 $4,864 
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, 
 202420232022
Gross unrecognized tax benefits ‑ beginning of period$11,666 $10,757 $9,807 
Increases related to prior year tax positions685 168 210 
Decreases related to prior year tax positions(6)(263)(172)
Increases related to current year tax positions2,882 1,204 1,166 
Decreases related to settlements of prior year tax positions(9)(199)(254)
Decreases related to lapses of statute of limitations(87)(1)— 
Gross unrecognized tax benefits ‑ end of period$15,131 $11,666 $10,757 
v3.24.4
Segment and Geographical Information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Revenue and Income from Operations The following table sets forth our segment information of revenue, expenses, and income (loss) from operations (in millions):
 Year Ended December 31, 
 202420232022
Family of Apps:
Revenue$162,355 $133,006 $114,450 
Employee compensation (1)
(31,116)(28,878)(28,545)
Other costs and expenses (2)
(44,130)(41,257)(43,244)
Income from operations$87,109 $62,871 $42,661 
Reality Labs:
Revenue$2,146 $1,896 $2,159 
Employee compensation (1)
(10,211)(8,942)(7,766)
Other costs and expenses (3)
(9,664)(9,074)(8,110)
Loss from operations$(17,729)$(16,120)$(13,717)
Total:
Revenue$164,501 $134,902 $116,609 
Employee compensation (1)
(41,327)(37,820)(36,311)
Other costs and expenses(53,794)(50,331)(51,354)
Income from operations$69,380 $46,751 $28,944 
____________________________________
(1)Employee compensation includes employee payroll, share-based compensation, bonus, and employee benefits for medical care, retirement, insurances and other.
(2)Includes costs and expenses in FoA segment for infrastructure, professional services, partner arrangements, marketing, facilities, legal-related costs, and other expenses.
(3)Includes costs and expenses in RL segment for inventory, professional services, marketing, infrastructure, facilities, and other expenses.
Schedule of Long-lived Assets 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,
 20242023
United States$117,478 $91,940 
Rest of the world (1)
18,790 17,941 
Total long-lived assets$136,268 $109,881 
_________________________
(1)No individual country, other than disclosed above, exceeded 10% of our total long-lived assets for any period presented.
v3.24.4
Summary of Significant Accounting Policies - Narrative (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
segment
unit
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Jan. 29, 2025
Summary of Accounting Policies        
Number of reporting segments (in segments) | segment 2      
Advertising expense $ 2,060,000,000.00 $ 2,020,000,000.00 $ 2,650,000,000  
Number of reporting units (in reporting units) | unit 2      
Goodwill, accumulated impairment loss $ 0      
Cumulative translation gain (loss), net of tax (2,660,000,000) (1,240,000,000)    
Foreign currency exchange losses, net (690,000,000) (366,000,000) (81,000,000)  
Servers and network assets | Subsequent Event        
Summary of Accounting Policies        
Useful life of property and equipment       5 years 6 months
2022 Restructuring        
Summary of Accounting Policies        
Restructuring charges $ 389,000,000 $ 2,255,000,000 $ 4,611,000,000  
Restricted Stock Units (RSUs)        
Summary of Accounting Policies        
Share-based compensation arrangement by share-based payment award, award vesting period 4 years      
Minimum | Servers and network assets        
Summary of Accounting Policies        
Useful life of property and equipment 4 years      
Maximum | Servers and network assets        
Summary of Accounting Policies        
Useful life of property and equipment 5 years      
Revenue from contract with customer benchmark | Geographic concentration risk | United States        
Summary of Accounting Policies        
Concentration risk percentage (in percentage) 36.00% 37.00% 40.00%  
v3.24.4
Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)
Jan. 29, 2025
Dec. 31, 2024
Servers and network assets | Subsequent Event    
Summary of Accounting Policies    
Useful life of property and equipment 5 years 6 months  
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   5 years
Finance lease right-of-use assets | Maximum    
Summary of Accounting Policies    
Useful life of property and equipment   20 years
v3.24.4
Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]      
Revenue $ 164,501 $ 134,902 $ 116,609
Family of Apps      
Disaggregation of Revenue [Line Items]      
Revenue 162,355 133,006 114,450
Reality Labs      
Disaggregation of Revenue [Line Items]      
Revenue 2,146 1,896 2,159
United States & Canada      
Disaggregation of Revenue [Line Items]      
Revenue 63,207 52,888 50,150
Europe      
Disaggregation of Revenue [Line Items]      
Revenue 38,361 31,210 26,681
Asia-Pacific      
Disaggregation of Revenue [Line Items]      
Revenue 45,009 36,154 27,760
Rest of World      
Disaggregation of Revenue [Line Items]      
Revenue 17,924 14,650 12,018
United States      
Disaggregation of Revenue [Line Items]      
Revenue 59,730 49,780 47,200
China      
Disaggregation of Revenue [Line Items]      
Revenue 18,350 13,690 7,400
Advertising | Family of Apps      
Disaggregation of Revenue [Line Items]      
Revenue 160,633 131,948 113,642
Other revenue | Family of Apps      
Disaggregation of Revenue [Line Items]      
Revenue $ 1,722 $ 1,058 $ 808
v3.24.4
Revenue - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]    
Deferred revenue $ 772 $ 675
Deferred revenue, current $ 721  
v3.24.4
Restructuring - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
employee
2022 Restructuring      
Restructuring Cost and Reserve [Line Items]      
Expected number of positions eliminated | employee     11,000
Restructuring charges recorded to date $ 7,254    
Restructuring charges 389 $ 2,255 $ 4,611
2022 Restructuring | Severance and Other Personnel Costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges recorded to date 948    
2023 Restructuring | Severance and Other Personnel Costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges   1,200  
Family of Apps | 2022 Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges recorded to date 305 1,740 4,100
Reality Labs | 2022 Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges recorded to date $ 84 $ 516 $ 515
v3.24.4
Restructuring - Restructuring and Related Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Data center assets abandonment      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges $ 0 $ (224) $ 1,341
2022 Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges 389 2,255 4,611
Plan to Date 7,254    
2022 Restructuring | Facilities Consolidation      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 5,190    
2022 Restructuring | Severance and Other Personnel Costs      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 948    
2022 Restructuring | Data center assets abandonment      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 1,116    
Cost of revenue | 2022 Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges 31 (47) 1,495
Plan to Date 1,478    
Cost of revenue | 2022 Restructuring | Facilities Consolidation      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 362    
Cost of revenue | 2022 Restructuring | Severance and Other Personnel Costs      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 0    
Cost of revenue | 2022 Restructuring | Data center assets abandonment      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 1,116    
Research and development | 2022 Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges 254 1,572 1,719
Plan to Date 3,545    
Research and development | 2022 Restructuring | Facilities Consolidation      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 3,146    
Research and development | 2022 Restructuring | Severance and Other Personnel Costs      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 399    
Research and development | 2022 Restructuring | Data center assets abandonment      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 0    
Marketing and sales | 2022 Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges 54 395 638
Plan to Date 1,087    
Marketing and sales | 2022 Restructuring | Facilities Consolidation      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 854    
Marketing and sales | 2022 Restructuring | Severance and Other Personnel Costs      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 233    
Marketing and sales | 2022 Restructuring | Data center assets abandonment      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 0    
General and administrative | 2022 Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges 50 $ 335 $ 759
Plan to Date 1,144    
General and administrative | 2022 Restructuring | Facilities Consolidation      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 828    
General and administrative | 2022 Restructuring | Severance and Other Personnel Costs      
Restructuring Cost and Reserve [Line Items]      
Plan to Date 316    
General and administrative | 2022 Restructuring | Data center assets abandonment      
Restructuring Cost and Reserve [Line Items]      
Plan to Date $ 0    
v3.24.4
Earnings per Share - Narrative (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]              
Dividends and dividend equivalents declared (in dollars per share)         $ 2.00    
Distributed earnings         $ 5,072 $ 0 $ 0
Class A Common Stock              
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]              
Dividends and dividend equivalents declared (in dollars per share) $ 0.50 $ 0.50 $ 0.50 $ 0.50 $ 2.00    
Distributed earnings         $ 4,380    
Class B Common Stock              
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]              
Dividends and dividend equivalents declared (in dollars per share) $ 0.50 $ 0.50 $ 0.50 $ 0.50 $ 2.00    
Distributed earnings         $ 691    
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
v3.24.4
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, 2024
Dec. 31, 2023
Dec. 31, 2022
Numerator      
Distributed earnings $ 5,072 $ 0 $ 0
Undistributed earnings 57,288 39,098 23,200
Net income $ 62,360 $ 39,098 $ 23,200
Denominator      
Shares used in computation of basic earnings per share (in shares) 2,534 2,574 2,687
Basic EPS (in dollars per share) $ 24.61 $ 15.19 $ 8.63
Numerator      
Net income for diluted EPS $ 62,360 $ 39,098 $ 23,200
Denominator      
Shares used in computation of basic earnings per share (in shares) 2,534 2,574 2,687
Weighted-average effect of dilutive RSUs (in shares) 80 55 15
Number of shares used for diluted EPS computation (in shares) 2,614 2,629 2,702
Diluted EPS (in dollars per share) $ 23.86 $ 14.87 $ 8.59
Class A Common Stock      
Numerator      
Distributed earnings $ 4,380    
Denominator      
Shares used in computation of basic earnings per share (in shares) 2,189 2,220 2,285
Denominator      
Shares used in computation of basic earnings per share (in shares) 2,189 2,220 2,285
Class B Common Stock      
Numerator      
Distributed earnings $ 691    
Denominator      
Shares used in computation of basic earnings per share (in shares) 345 354 402
Denominator      
Shares used in computation of basic earnings per share (in shares) 345 354 402
v3.24.4
Financial Instruments - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents $ 36,671 $ 35,597
Marketable securities: 32,700  
Marketable equity securities 1,226  
Total marketable securities 33,926 23,541
Restricted cash equivalents 1,193 857
Other assets 101 101
Total 71,891 60,096
U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 14,889 8,439
U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 3,053 3,498
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 14,758 11,604
Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 36,165 32,910
U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 23 2,206
Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 369 261
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 114 220
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 36,188 35,116
Marketable equity securities 1,226  
Total marketable securities 19,168 11,937
Restricted cash equivalents 1,193 857
Other assets 0 0
Total 56,549 47,910
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: 14,889 8,439
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: 3,053 3,498
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 36,165 32,910
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 23 2,206
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 483 481
Marketable equity securities 0  
Total marketable securities 14,758 11,604
Restricted cash equivalents 0 0
Other assets 0 0
Total 15,241 12,085
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: 14,758 11,604
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 369 261
Significant Other Observable Inputs (Level 2) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 114 220
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 101 101
Total 101 101
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
v3.24.4
Financial Instruments - Available-for-sale Marketable Securities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Marketable Securities [Line Items]    
Less than 12 months, fair value $ 10,284 $ 1,054
Less than 12 months, unrealized losses (99) (4)
12 months or greater, fair value 12,786 20,391
12 months or greater, unrealized losses (382) (930)
Fair value 23,070 21,445
Unrealized losses (481) (934)
U.S. government securities    
Marketable Securities [Line Items]    
Less than 12 months, fair value 6,860 336
Less than 12 months, unrealized losses (71) (1)
12 months or greater, fair value 4,330 7,041
12 months or greater, unrealized losses (146) (275)
Fair value 11,190 7,377
Unrealized losses (217) (276)
U.S. government agency securities    
Marketable Securities [Line Items]    
Less than 12 months, fair value 435 71
Less than 12 months, unrealized losses (2) 0
12 months or greater, fair value 2,083 3,225
12 months or greater, unrealized losses (44) (164)
Fair value 2,518 3,296
Unrealized losses (46) (164)
Corporate debt securities    
Marketable Securities [Line Items]    
Less than 12 months, fair value 2,989 647
Less than 12 months, unrealized losses (26) (3)
12 months or greater, fair value 6,373 10,125
12 months or greater, unrealized losses (192) (491)
Fair value 9,362 10,772
Unrealized losses $ (218) $ (494)
v3.24.4
Financial Instruments - Contractual Maturities of Marketable Debt Securities (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Contractual Maturities of Marketable Securities  
Due within one year $ 7,847
Due after one year to five years 24,853
Total $ 32,700
v3.24.4
Non-marketable Equity Securities - Schedule of Non-Marketable Equity Securities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]    
Initial cost $ 6,342 $ 6,389
Cumulative upward adjustments 300 293
Cumulative impairment/downward adjustments (624) (599)
Carrying value 6,018 6,083
Non-marketable equity securities under equity method 52 58
Total non-marketable equity securities $ 6,070 $ 6,141
v3.24.4
Non-marketable Equity Securities - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
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 $ 42 $ 101 $ 447
v3.24.4
Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment    
Finance lease right-of-use assets $ 5,384 $ 4,185
Property and equipment, gross 164,663 129,721
Less: Accumulated depreciation (43,317) (33,134)
Property and equipment, net 121,346 96,587
Land    
Property, Plant and Equipment    
Property and equipment, gross 2,561 2,080
Servers and network assets    
Property, Plant and Equipment    
Property and equipment, gross 68,397 46,838
Buildings    
Property, Plant and Equipment    
Property and equipment, gross 47,076 37,961
Leasehold improvements    
Property, Plant and Equipment    
Property and equipment, gross 7,293 6,972
Equipment and other    
Property, Plant and Equipment    
Property and equipment, gross 7,150 7,416
Construction in progress    
Property, Plant and Equipment    
Property and equipment, gross $ 26,802 $ 24,269
v3.24.4
Property and Equipment - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Summary of Accounting Policies      
Depreciation $ 15,290 $ 11,020 $ 8,500
Impairment charges for property and equipment 288 738 2,010
Servers and network assets      
Summary of Accounting Policies      
Depreciation 11,340 7,320 $ 5,290
Construction in progress      
Summary of Accounting Policies      
Interest costs capitalized $ 384 $ 283  
v3.24.4
Leases - Components of Lease Cost and Supplementary Info (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Finance lease cost:      
Amortization of right-of-use assets $ 387 $ 349 $ 380
Interest 23 20 16
Operating lease cost 2,359 2,091 1,857
Variable lease cost and other 844 580 363
Total $ 3,613 $ 3,040 $ 2,616
v3.24.4
Leases - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Lessee, Lease, Description [Line Items]      
Lease not yet commenced $ 34,120    
2022 Restructuring      
Lessee, Lease, Description [Line Items]      
Restructuring charges 389 $ 2,255 $ 4,611
Operating Lease, ROU Asset | 2022 Restructuring      
Lessee, Lease, Description [Line Items]      
Restructuring charges $ 385 $ 1,760 $ 1,710
Minimum      
Lessee, Lease, Description [Line Items]      
Operating lease not yet commenced, term 1 year    
Finance lease not yet commenced, term 1 year    
Maximum      
Lessee, Lease, Description [Line Items]      
Operating lease not yet commenced, term 30 years    
Finance lease not yet commenced, term 30 years    
v3.24.4
Leases - Lease, Balance Sheet Information (Details)
Dec. 31, 2024
Dec. 31, 2023
Weighted-average remaining lease term:    
Finance leases 13 years 8 months 12 days 14 years
Operating leases 11 years 6 months 11 years 7 months 6 days
Weighted-average discount rate:    
Finance leases 3.60% 3.40%
Operating leases 3.90% 3.70%
v3.24.4
Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Operating Leases    
2025 $ 2,657  
2026 2,625  
2027 2,575  
2028 2,459  
2029 2,391  
Thereafter 13,022  
Total undiscounted cash flows 25,729  
Less: Imputed interest (5,495)  
Present value of lease liabilities 20,234  
Lease liabilities, current 1,942 $ 1,623
Lease liabilities, non-current 18,292 $ 17,226
Finance Leases    
2025 96  
2026 68  
2027 68  
2028 68  
2029 64  
Thereafter 528  
Total undiscounted cash flows 892  
Less: Imputed interest (183)  
Present value of lease liabilities 709  
Lease liabilities, current 76  
Lease liabilities, non-current $ 633  
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  
v3.24.4
Leases - Schedule of Supplemental Cash Flow (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows for operating leases $ 2,830 $ 2,233 $ 1,654
Operating cash flows for finance leases 23 20 16
Financing cash flows for finance leases 1,969 1,058 850
Lease liabilities arising from obtaining right-of-use assets:      
Operating leases 3,784 4,370 4,366
Finance leases $ 181 $ 588 $ 223
v3.24.4
Goodwill and Intangible Assets - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization expense $ 211 $ 161 $ 185
v3.24.4
Goodwill and Intangible Assets - Schedule of Change in Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Goodwill beginning of period $ 20,654 $ 20,306
Acquisitions 0 357
Adjustments   (9)
Goodwill end of period 20,654 20,654
Family of Apps    
Goodwill [Roll Forward]    
Goodwill beginning of period 19,246 19,250
Acquisitions 0 0
Adjustments   (4)
Goodwill end of period 19,246 19,246
Reality Labs    
Goodwill [Roll Forward]    
Goodwill beginning of period 1,408 1,056
Acquisitions 0 357
Adjustments   (5)
Goodwill end of period $ 1,408 $ 1,408
v3.24.4
Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 968 $ 793
Accumulated Amortization (478) (430)
Net Carrying Amount 490 363
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]    
Total indefinite-lived assets 425 425
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Gross Carrying Amount 1,393 1,218
Accumulated Amortization (478) (430)
Net Carrying Amount $ 915 788
Acquired technology    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining Useful Lives (in years) 4 years 7 months 6 days  
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 442 478
Accumulated Amortization (247) (182)
Net Carrying Amount 195 296
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Accumulated Amortization $ (247) (182)
Acquired patents    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining Useful Lives (in years) 3 years 8 months 12 days  
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 252 287
Accumulated Amortization (165) (233)
Net Carrying Amount 87 54
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Accumulated Amortization $ (165) (233)
Acquired software    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining Useful Lives (in years) 2 years 8 months 12 days  
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 250 0
Accumulated Amortization (58) 0
Net Carrying Amount 192 0
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Accumulated Amortization $ (58) 0
Other    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining Useful Lives (in years) 2 years  
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 24 28
Accumulated Amortization (8) (15)
Net Carrying Amount 16 13
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Accumulated Amortization $ (8) $ (15)
v3.24.4
Goodwill and Intangible Assets - Schedule of Amortization Expense (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]    
2025 $ 205  
2026 125  
2027 64  
2028 38  
2029 23  
Thereafter 35  
Net Carrying Amount $ 490 $ 363
v3.24.4
Long-term Debt - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Aug. 31, 2024
Debt Instrument        
Interest expense recognized on debt $ 683 $ 420 $ 160  
Senior Notes        
Debt Instrument        
Debt instrument, face amount 29,000 18,500    
Senior Notes | Significant Other Observable Inputs (Level 2) | Estimate of Fair Value Measurement        
Debt Instrument        
Long-term debt, fair value $ 27,830 $ 18,480    
August 2024 Notes:        
Debt Instrument        
Debt instrument, face amount       $ 10,500
v3.24.4
Long-term Debt - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument    
Total face amount of long-term debt $ 29,000 $ 18,500
Unamortized discount and issuance costs, net (174) (115)
Long-term debt 28,826 18,385
August 2022 Notes:    
Debt Instrument    
Total face amount of long-term debt $ 10,000 10,000
August 2022 Notes: | Minimum    
Debt Instrument    
Stated Interest Rate 3.50%  
Effective Interest Rate 3.63%  
August 2022 Notes: | Maximum    
Debt Instrument    
Stated Interest Rate 4.65%  
Effective Interest Rate 4.71%  
May 2023 Notes:    
Debt Instrument    
Total face amount of long-term debt $ 8,500 8,500
May 2023 Notes: | Minimum    
Debt Instrument    
Stated Interest Rate 4.60%  
Effective Interest Rate 4.68%  
May 2023 Notes: | Maximum    
Debt Instrument    
Stated Interest Rate 5.75%  
Effective Interest Rate 5.79%  
August 2024 Notes:    
Debt Instrument    
Total face amount of long-term debt $ 10,500 $ 0
August 2024 Notes: | Minimum    
Debt Instrument    
Stated Interest Rate 4.30%  
Effective Interest Rate 4.42%  
August 2024 Notes: | Maximum    
Debt Instrument    
Stated Interest Rate 5.55%  
Effective Interest Rate 5.60%  
v3.24.4
Long-term Debt - Schedule of Maturities of Long-Term Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Debt Disclosure [Abstract]    
2025 through 2026 $ 0  
2027 2,750  
2028 1,500  
2029 1,000  
Thereafter 23,750  
Total $ 29,000 $ 18,500
v3.24.4
Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Payables and Accruals [Abstract]    
Legal-related accruals $ 5,523 $ 6,592
Accrued compensation and benefits 6,350 6,659
Accrued property and equipment 2,582 2,213
Accrued taxes 3,438 3,655
Other current liabilities 6,074 6,369
Accrued expenses and other current liabilities $ 23,967 $ 25,488
v3.24.4
Commitments and Contingencies - Narrative (Details)
€ in Millions, $ in Millions
 1 Months Ended 12 Months Ended
Nov. 18, 2024
EUR (€)
Jul. 24, 2024
Jun. 24, 2024
appeal
Dec. 22, 2022
USD ($)
Jul. 27, 2018
classAction
Apr. 30, 2020
USD ($)
Dec. 31, 2024
USD ($)
objector
May 12, 2023
EUR (€)
Commitments and Contingencies Disclosure                
Non-cancelable contractual commitment             $ 32,824  
Total estimated spend, purchase commitment             $ 24,970  
Commitment period             5 years  
Litigation settlement, payment to other party       $ 725        
Number of objectors that appealed final approval | objector             2  
Number of appeals voluntarily dismissed | appeal     1          
Required period to report to circuit court   30 days            
Number of class actions filed | classAction         2      
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 | €               € 1,200
European Commission, Statement of Objections                
Commitments and Contingencies Disclosure                
Imposed fine | € € 798              
v3.24.4
Commitments and Contingencies - Contractual Commitments (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
2025 $ 26,335
2026 2,548
2027 812
2028 227
2029 153
Thereafter 2,749
Total $ 32,824
v3.24.4
Stockholders' Equity - Common Stock Narrative (Details)
Dec. 31, 2024
vote
$ / shares
shares
Dec. 31, 2023
$ / 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) 2,190,000,000 2,211,000,000
Common stock, shares, outstanding (in shares) 2,190,000,000 2,211,000,000
Class B Common Stock    
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) 344,000,000 350,000,000
Common stock, shares, outstanding (in shares) 344,000,000 350,000,000
v3.24.4
Stockholders' Equity - Summary of Share-Based Compensation Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total $ 16,690 $ 14,027 $ 11,992
Cost of revenue      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total 1,055 740 768
Research and development      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total 13,683 11,429 9,361
Marketing and sales      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total 1,026 952 1,004
General and administrative      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total $ 926 $ 906 $ 859
v3.24.4
Stockholders' Equity - Capital Return Program Narrative (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Jan. 31, 2024
Class of Stock                
Remaining authorized repurchase amount $ 51,280       $ 51,280 $ 30,930    
Stock repurchase program, authorized amount               $ 50,000
Value of shares repurchased         $ 29,754 20,033 $ 27,926  
Dividends and dividend equivalents declared (in dollars per share)         $ 2.00      
Dividend and dividend equivalent payments         $ 5,072 $ 0 $ 0  
Class A Common Stock                
Class of Stock                
Shares repurchased (in shares)         65      
Dividends and dividend equivalents declared (in dollars per share) $ 0.50 $ 0.50 $ 0.50 $ 0.50 $ 2.00      
Dividend and dividend equivalent payments         $ 4,380      
Class B Common Stock                
Class of Stock                
Dividends and dividend equivalents declared (in dollars per share) $ 0.50 $ 0.50 $ 0.50 $ 0.50 $ 2.00      
Dividend and dividend equivalent payments         $ 691      
v3.24.4
Stockholders' Equity - Share-based Compensation Plans Narrative (Details)
shares in Millions
Dec. 31, 2024
shareBasedCompensationPlan
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based employee compensation plans, number | shareBasedCompensationPlan 1
Equity Incentive Plan 2012  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
2012 equity incentive plan shares reserved for future issuance (in shares) | shares 483
v3.24.4
Stockholders' Equity - RSU Award Activity (Details) - Restricted Stock Units (RSUs) - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Number of Shares      
Unvested at beginning of period (in shares) 149,062    
Granted (in shares) 48,661    
Vested (in shares) (64,769)    
Forfeited (in shares) (10,322)    
Unvested at end of period (in shares) 122,632 149,062  
Weighted-Average Grant Date Fair Value Per Share      
Unvested at beginning of period (in dollars per share) $ 209.85    
Granted (in dollars per share) 506.80 $ 202.46 $ 195.66
Vested (in dollars per share) 250.76    
Forfeited (in dollars per share) 255.04    
Unvested at end of period (in dollars per share) $ 302.27 $ 209.85  
v3.24.4
Stockholders' Equity - Additional Award Disclosures Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award      
Future period share-based compensation expense $ 34,790    
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) $ 506.80 $ 202.46 $ 195.66
Fair value of vested RSUs $ 33,140 $ 17,460 $ 9,440
Income tax benefit from RSUs vested $ 6,950 $ 3,650 $ 2,000
v3.24.4
Interest and Other Income (Expense), Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Income and Expenses [Abstract]      
Interest income $ 2,517 $ 1,639 $ 461
Interest expense (715) (446) (185)
Foreign currency exchange losses, net (690) (366) (81)
Other income (expense), net 171 (150) (320)
Total interest and other income (expense), net $ 1,283 $ 677 $ (125)
v3.24.4
Income Taxes - Schedule for Income Before Income Tax (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Domestic $ 66,342 $ 43,499 $ 25,025
Foreign 4,321 3,929 3,794
Income before provision for income taxes $ 70,663 $ 47,428 $ 28,819
v3.24.4
Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current:      
Federal $ 9,569 $ 4,934 $ 6,094
State 775 577 874
Foreign 2,696 2,688 1,928
Total current tax expense 13,040 8,199 8,896
Deferred:      
Federal (4,709) 67 (2,776)
State (43) 123 (405)
Foreign 15 (59) (96)
Deferred income taxes (4,737) 131 (3,277)
Provision for income taxes $ 8,303 $ 8,330 $ 5,619
v3.24.4
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]      
U.S. federal statutory income tax rate 21.00% 21.00% 21.00%
State income taxes, net of federal benefit 0.70% 1.10% 1.00%
Share-based compensation (3.70%) (0.60%) 2.60%
Research and development tax credits (2.90%) (1.50%) (2.40%)
Foreign-derived intangible income deduction (4.90%) (4.30%) (7.00%)
Effect of non-U.S. operations 0.20% 0.90% 3.00%
Other 1.40% 1.00% 1.30%
Effective tax rate 11.80% 17.60% 19.50%
v3.24.4
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Loss carryforwards $ 289 $ 353
Tax credit carryforwards 2,771 2,028
Share-based compensation 520 459
Accrued expenses and other liabilities 2,223 2,168
Lease liabilities 3,940 3,752
Capitalized research and development 16,743 9,292
Unrealized losses in securities and investments 115 232
Other 442 487
Total deferred tax assets 27,043 18,771
Less: valuation allowance (3,506) (2,879)
Deferred tax assets, net of valuation allowance 23,537 15,892
Deferred tax liabilities:    
Depreciation and amortization (10,959) (8,320)
Right-of-use assets (3,000) (2,708)
Total deferred tax liabilities (13,959) (11,028)
Net deferred tax assets $ 9,578 $ 4,864
v3.24.4
Income Taxes - Narrative (Details)
$ in Millions
 1 Months Ended 12 Months Ended
Mar. 31, 2018
USD ($)
notice
Jul. 31, 2016
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Income Tax Disclosure            
Valuation allowance, deferred tax assets     $ 3,506 $ 2,879    
Cumulative stock ownership change threshold (in percentage)     50.00%      
Change in ownership percentage over period     3 years      
Unrecognized tax benefits, interest and penalties accrued     $ 2,210 1,480 $ 1,070  
Unrecognized tax benefits     15,131 $ 11,666 $ 10,757 $ 9,807
Unrecognized tax benefits that would impact effective tax rate     10,110      
Domestic Tax Jurisdiction            
Income Tax Disclosure            
Tax credit carryforward     595      
State and Local Jurisdiction            
Income Tax Disclosure            
Operating loss carryforwards     2,360      
Tax credit carryforward     $ 5,470      
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, estimate of possible additional tax liability $ 680          
Income tax examination, number of notices (in notices) | notice 2          
v3.24.4
Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits      
Gross unrecognized tax benefits ‑ beginning of period $ 11,666 $ 10,757 $ 9,807
Increases related to prior year tax positions 685 168 210
Decreases related to prior year tax positions (6) (263) (172)
Increases related to current year tax positions 2,882 1,204 1,166
Decreases related to settlements of prior year tax positions (9) (199) (254)
Decreases related to lapses of statute of limitations (87) (1) 0
Gross unrecognized tax benefits ‑ end of period $ 15,131 $ 11,666 $ 10,757
v3.24.4
Segment and Geographical Information - Narrative (Details)
 12 Months Ended
Dec. 31, 2024
segment
Segment Reporting [Abstract]  
Number of reporting segments (in segments) 2
v3.24.4
Segment and Geographical Information - Segment Revenue and Income for Operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue from External Customer [Line Items]      
Revenue $ 164,501 $ 134,902 $ 116,609
Employee compensation (41,327) (37,820) (36,311)
Other costs and expenses (53,794) (50,331) (51,354)
Income (loss) from operations 69,380 46,751 28,944
Family of Apps      
Revenue from External Customer [Line Items]      
Revenue 162,355 133,006 114,450
Employee compensation (31,116) (28,878) (28,545)
Other costs and expenses (44,130) (41,257) (43,244)
Income (loss) from operations 87,109 62,871 42,661
Reality Labs      
Revenue from External Customer [Line Items]      
Revenue 2,146 1,896 2,159
Employee compensation (10,211) (8,942) (7,766)
Other costs and expenses (9,664) (9,074) (8,110)
Income (loss) from operations $ (17,729) $ (16,120) $ (13,717)
v3.24.4
Segment and Geographical Information - Schedule of Property and Equipment (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Long-Lived Assets, by Geographical Area [Line Items]    
Long-lived assets $ 136,268 $ 109,881
United States    
Long-Lived Assets, by Geographical Area [Line Items]    
Long-lived assets 117,478 91,940
Rest of the world    
Long-Lived Assets, by Geographical Area [Line Items]    
Long-lived assets $ 18,790 $ 17,941