META PLATFORMS, INC., 10-Q filed on 7/27/2023
Quarterly Report
v3.23.2
Cover Page - shares
 6 Months Ended
Jun. 30, 2023
Jul. 21, 2023
Entity Information    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2023  
Document Transition Report false  
Entity File Number 001-35551  
Entity Registrant Name Meta Platforms, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 20-1665019  
Entity Address, Address Line One 1 Meta Way  
Entity Address, City or Town Menlo Park  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94025  
City Area Code 650  
Local Phone Number 543-4800  
Title of 12(b) Security Class A Common Stock, $0.000006 par value  
Trading Symbol META  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Amendment Flag false  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0001326801  
Current Fiscal Year End Date --12-31  
Class A Common Stock    
Entity Information    
Entity Common Stock, Shares Outstanding   2,222,582,542
Class B Common Stock    
Entity Information    
Entity Common Stock, Shares Outstanding   350,578,831
v3.23.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 28,785 $ 14,681
Marketable securities 24,661 26,057
Accounts receivable, net 12,511 13,466
Prepaid expenses and other current assets 3,603 5,345
Total current assets 69,560 59,549
Non-marketable equity securities 6,208 6,201
Property and equipment, net 87,949 79,518
Operating lease right-of-use assets 12,955 12,673
Intangible assets, net 856 897
Goodwill 20,659 20,306
Other assets 8,501 6,583
Total assets 206,688 185,727
Current liabilities:    
Accounts payable 3,093 4,990
Partners payable 772 1,117
Operating lease liabilities, current 1,396 1,367
Accrued expenses and other current liabilities 24,660 19,552
Total current liabilities 29,921 27,026
Operating lease liabilities, non-current 16,440 15,301
Long-term debt 18,382 9,923
Other liabilities 7,912 7,764
Total liabilities 72,655 60,014
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.000006 par value; 5,000 million Class A shares authorized, 2,222 million and 2,247 million shares issued and outstanding, as of June 30, 2023 and December 31, 2022, respectively; 4,141 million Class B shares authorized, 351 million and 367 million shares issued and outstanding, as of June 30, 2023 and December 31, 2022, respectively 0 0
Additional paid-in capital 69,159 64,444
Accumulated other comprehensive loss (3,106) (3,530)
Retained earnings 67,980 64,799
Total stockholders' equity 134,033 125,713
Total liabilities and stockholders' equity $ 206,688 $ 185,727
v3.23.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
shares in Millions
Jun. 30, 2023
Dec. 31, 2022
Stockholders' equity:    
Common stock, par value (in dollars per share) $ 0.000006 $ 0.000006
Class A Common Stock    
Stockholders' equity:    
Common stock, shares authorized (in shares) 5,000 5,000
Common stock, shares issued (in shares) 2,222 2,247
Common stock, shares outstanding (in shares) 2,222 2,247
Class B Common Stock    
Stockholders' equity:    
Common stock, shares authorized (in shares) 4,141 4,141
Common stock, shares issued (in shares) 351 367
Common stock, shares outstanding (in shares) 351 367
v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Revenue: $ 31,999 $ 28,822 $ 60,645 $ 56,729
Costs and expenses:        
Cost of revenue 5,945 5,192 12,054 11,197
Research and development 9,344 8,690 18,725 16,397
Marketing and sales 3,154 3,595 6,198 6,907
General and administrative 4,164 2,987 7,049 5,347
Total costs and expenses 22,607 20,464 44,026 39,848
Income from operations 9,392 8,358 16,619 16,881
Interest and other income (expense), net (99) (172) (19) 213
Income before provision for income taxes 9,293 8,186 16,600 17,094
Provision for income taxes 1,505 1,499 3,102 2,942
Net income $ 7,788 $ 6,687 $ 13,498 $ 14,152
Earnings per share attributable to Class A and Class B common stockholders:        
Basic (in dollars per share) $ 3.03 $ 2.47 $ 5.24 $ 5.21
Diluted (in dollars per share) $ 2.98 $ 2.46 $ 5.18 $ 5.19
Weighted-average shares used to compute earnings per share attributable to Class A and Class B common stockholders:        
Basic (in shares) 2,568 2,704 2,577 2,714
Diluted (in shares) 2,612 2,713 2,604 2,729
v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Statement of Comprehensive Income [Abstract]        
Net income $ 7,788 $ 6,687 $ 13,498 $ 14,152
Other comprehensive income (loss):        
Change in foreign currency translation adjustment, net of tax (37) (1,076) 211 (1,435)
Change in unrealized gain (loss) on available-for-sale investments and other, net of tax (88) (339) 213 (1,283)
Comprehensive income $ 7,663 $ 5,272 $ 13,922 $ 11,434
v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Class A and Class B Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Balances at beginning of period (in shares) at Dec. 31, 2021   2,741      
Balances at beginning of period at Dec. 31, 2021 $ 124,879 $ 0 $ 55,811 $ (693) $ 69,761
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock (in shares)   25      
Shares withheld related to net share settlement (in shares)   (9)      
Shares withheld related to net share settlement (1,927)   (1,732)   (195)
Share-based compensation 5,850   5,850    
Share repurchases (in shares)   (60)      
Share repurchases (14,469)       (14,469)
Other comprehensive income (loss) (2,718)     (2,718)  
Net income 14,152       14,152
Balances at end of period (in shares) at Jun. 30, 2022   2,697      
Balances at end of period at Jun. 30, 2022 125,767 $ 0 59,929 (3,411) 69,249
Balances at beginning of period (in shares) at Mar. 31, 2022   2,714      
Balances at beginning of period at Mar. 31, 2022 123,228 $ 0 57,512 (1,996) 67,712
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock (in shares)   14      
Shares withheld related to net share settlement (in shares)   (5)      
Shares withheld related to net share settlement (1,002)   (934)   (68)
Share-based compensation 3,351   3,351    
Share repurchases (in shares)   (26)      
Share repurchases (5,082)       (5,082)
Other comprehensive income (loss) (1,415)     (1,415)  
Net income 6,687       6,687
Balances at end of period (in shares) at Jun. 30, 2022   2,697      
Balances at end of period at Jun. 30, 2022 125,767 $ 0 59,929 (3,411) 69,249
Balances at beginning of period (in shares) at Dec. 31, 2022   2,614      
Balances at beginning of period at Dec. 31, 2022 125,713 $ 0 64,444 (3,530) 64,799
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock (in shares)   32      
Shares withheld related to net share settlement (in shares)   (13)      
Shares withheld related to net share settlement (2,701)   (2,396)   (305)
Share-based compensation 7,111   7,111    
Share repurchases (in shares)   (60)      
Share repurchases (10,012)       (10,012)
Other comprehensive income (loss) 424     424  
Net income 13,498       13,498
Balances at end of period (in shares) at Jun. 30, 2023   2,573      
Balances at end of period at Jun. 30, 2023 134,033 $ 0 69,159 (3,106) 67,980
Balances at beginning of period (in shares) at Mar. 31, 2023   2,566      
Balances at beginning of period at Mar. 31, 2023 124,795 $ 0 66,535 (2,981) 61,241
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock (in shares)   18      
Shares withheld related to net share settlement (in shares)   (7)      
Shares withheld related to net share settlement (1,692)   (1,436)   (256)
Share-based compensation 4,060   4,060    
Share repurchases (in shares)   (4)      
Share repurchases (793)       (793)
Other comprehensive income (loss) (125)     (125)  
Net income 7,788       7,788
Balances at end of period (in shares) at Jun. 30, 2023   2,573      
Balances at end of period at Jun. 30, 2023 $ 134,033 $ 0 $ 69,159 $ (3,106) $ 67,980
v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Net Cash Provided by (Used in) Operating Activities [Abstract]    
Net income $ 13,498 $ 14,152
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,147 4,135
Share-based compensation 7,111 5,850
Deferred income taxes (1,757) (1,016)
Impairment charges for facilities consolidation 1,002 0
Other 204 (33)
Changes in assets and liabilities:    
Accounts receivable 1,122 2,035
Prepaid expenses and other current assets 767 138
Other assets 67 (132)
Accounts payable (1,155) (645)
Partners payable (356) (33)
Accrued expenses and other current liabilities 5,624 1,943
Other liabilities 33 (122)
Net cash provided by operating activities 31,307 26,272
Cash flows from investing activities    
Purchases of property and equipment (13,058) (13,013)
Proceeds relating to property and equipment 101 170
Purchases of marketable debt securities (803) (6,288)
Maturities and sales of marketable debt securities 2,351 8,626
Acquisitions of businesses and intangible assets (527) (1,216)
Other investing activities (10) (17)
Net cash used in investing activities (11,946) (11,738)
Cash flows from financing activities    
Taxes paid related to net share settlement of equity awards (2,701) (1,927)
Repurchases of Class A common stock (10,263) (14,739)
Proceeds from issuance of long-term debt, net 8,455 0
Principal payments on finance leases (484) (452)
Other financing activities (231) (105)
Net cash used in financing activities (5,224) (17,223)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 71 (698)
Net increase (decrease) in cash, cash equivalents, and restricted cash 14,208 (3,387)
Cash, cash equivalents, and restricted cash at beginning of the period 15,596 16,865
Cash, cash equivalents, and restricted cash at end of the period 29,804 13,478
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets    
Cash and cash equivalents 28,785 12,681
Total cash, cash equivalents, and restricted cash 29,804 13,478
Supplemental cash flow data    
Cash paid for income taxes, net 1,507 2,641
Cash paid for interest, net of amounts capitalized 182 0
Non-cash investing and financing activities:    
Property and equipment in accounts payable and accrued expenses and other current liabilities 3,845 4,543
Acquisition of businesses in accrued expenses and other current liabilities and other liabilities 217 43
Settlement of convertible notes in exchange of equity securities in other current assets 0 131
Other current assets through financing arrangement in accrued expenses and other current liabilities 14 214
Repurchases of Class A common stock in accrued expenses and other current liabilities 0 70
Restricted cash, included in prepaid expenses and other current assets    
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets    
Restricted cash and cash equivalents 165 228
Restricted cash, included in other assets    
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets    
Restricted cash and cash equivalents $ 854 $ 569
v3.23.2
Summary of Significant Accounting Policies
 6 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2022.

The condensed consolidated balance sheet as of December 31, 2022 included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP.

The condensed consolidated financial statements include the accounts of Meta Platforms, Inc., its subsidiaries where we have controlling financial interests, and any variable interest entities for which we are deemed to be the primary beneficiary. All intercompany balances and transactions have been eliminated.

The accompanying condensed consolidated financial statements reflect all normal recurring adjustments that are necessary to present fairly the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year ending December 31, 2023.

Use of Estimates

Preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and judgments that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments we make about the carrying values of our assets and liabilities, which are not readily apparent from other sources. We base our estimates and judgments on historical information and on various other assumptions that we believe are reasonable under the circumstances. GAAP requires us to make estimates and judgments in several areas, including, but not limited to, those related to revenue recognition, valuation of non-marketable equity securities, income taxes, loss contingencies, including the ultimate resolution of litigation, regulatory matters, and asserted and unasserted claims, valuation of long-lived assets including goodwill, intangible assets, and property and equipment, and their associated estimated useful lives, valuation of purchase commitments, credit losses of available-for-sale debt securities and accounts receivable, fair value of financial instruments, and fair value of leases. These estimates are based on management's knowledge about current events, interpretation of regulations, and expectations about actions we may undertake in the future. Actual results could differ materially from those estimates.

Significant Accounting Policies

There have been no material changes to our significant accounting policies from our Annual Report on Form 10-K for the fiscal year ended December 31, 2022.

Recently Adopted Accounting Pronouncements

On April 1, 2023 we early adopted Accounting Standards Update (ASU) No. 2023-01, Leases (Topic 842): Common Control Arrangements (ASU 2023-01), which requires leasehold improvements associated with common control leases to be amortized over the useful life to the common control group. The adoption of this new standard did not have a material impact on our condensed consolidated financial statements.
v3.23.2
Revenue
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Revenue disaggregated by revenue source and by segment consists of the following (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
Advertising$31,498 $28,152 $59,599 $55,150 
Other revenue225 218 430 433 
Family of Apps31,723 28,370 60,029 55,583 
Reality Labs276 452 616 1,146 
Total revenue$31,999 $28,822 $60,645 $56,729 

Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
United States and Canada (1)
$12,404 $12,186 $23,854 $23,965 
Europe (2)
7,515 6,650 14,274 13,288 
Asia-Pacific8,551 6,960 15,843 13,682 
Rest of World (2)
3,529 3,026 6,674 5,794 
Total revenue$31,999 $28,822 $60,645 $56,729 
____________________________________
(1)    United States revenue was $11.66 billion and $11.43 billion for the three months ended June 30, 2023 and 2022, respectively, and $22.45 billion and $22.52 billion for the six months ended June 30, 2023 and 2022, respectively.
(2)    Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East.

Our total deferred revenue was $520 million and $526 million as of June 30, 2023 and December 31, 2022, respectively. As of June 30, 2023, we expect $494 million of our deferred revenue to be realized in less than a year.
v3.23.2
Restructuring
 6 Months Ended
Jun. 30, 2023
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
2023 Restructuring

In March 2023, we announced three rounds of planned layoffs to further reduce our company size by approximately 10,000 employees across the Family of Apps (FoA) and Reality Labs (RL) segments (the “2023 Restructuring”). Impacted employees in our recruiting, technology, and business groups were notified during March 2023 to May 2023. In certain regions, it may take through the end of 2023 or longer to complete these layoffs. We expect to incur total pre-tax severance and related personnel costs of approximately $1.2 billion across the FoA and RL segments, of which $1.12 billion was recognized during the six months ended June 30, 2023 in accordance with Accounting Standards Codification (ASC) Topic 420, Exit or Disposal Cost Obligations, where applicable.

A summary of our 2023 Restructuring pre-tax charges recorded for severance and related personnel costs in the three and six months ended June 30, 2023 is as follows (in millions):
Three Months Ended June 30, 2023Six Months Ended June 30, 2023
Research and development$142 $466 
Marketing and sales217 222 
General and administrative237 431 
Total (1)
$596 $1,119 
____________________________
(1)    Total severance and related personnel costs include $40 million and $102 million of share-based compensation expense recognized for the 2023 layoffs during the three and six months ended June 30, 2023, respectively.

During the three and six months ended June 30, 2023, total restructuring charges recorded under our FoA segment were $569 million and $1.04 billion, respectively, and $27 million and $82 million under our RL segment, respectively.

The following is a summary of changes in the accrued severance and other personnel liabilities related to 2023 layoff activities, included within accrued expenses and other current liabilities on the condensed consolidated balance sheets (in millions):
Severance Liabilities
Balance as of January 1, 2023$— 
Severance and other personnel costs1,017 
Cash payments (339)
Balance as of June 30, 2023$678 

We expect the remaining severance liabilities as of June 30, 2023 to be substantially paid out in cash by the end of 2023.

2022 Restructuring

In 2022, we initiated several measures to pursue greater efficiency and to realign our business and strategic priorities. This includes a facilities consolidation strategy to sublease, early terminate, or abandon several office buildings under operating leases, a layoff of approximately 11,000 employees across the FoA and RL segments, and a pivot towards a next generation data center design, including cancellation of multiple data center projects (the “2022 Restructuring”). As of June 30, 2023, we have completed the 2022 employee layoff while continuing to assess facilities consolidation and data center restructuring initiatives.
A summary of our 2022 Restructuring pre-tax charges, including subsequent adjustments, is as follows (in millions):
Three Months Ended June 30, 2023Six Months Ended June 30, 2023
Facilities ConsolidationSeverance and Other Personnel Costs
Data Center Assets (1)
TotalFacilities ConsolidationSeverance and Other Personnel Costs
Data Center Assets (1)
Total
Cost of revenue$9 $— $(51)$(42)$67 $— $(220)$(153)
Research and development159 (7)— 152 643 (11)— 632 
Marketing and sales43 1 — 44 179 (1)— 178 
General and administrative36 (6)— 30 165 (18)— 147 
Total $247 $(12)$(51)$184 $1,054 $(30)$(220)$804 
____________________________________
(1)Relates to changes in estimates in our data center restructuring charges recorded during 2022.

The 2022 Restructuring charges recorded to date were $5.41 billion, of which $3.35 billion were related to facilities consolidation, $945 million were related to severance and other personnel costs, and $1.12 billion were related to data center assets. These charges recorded under our FoA segment were $4.70 billion and RL segment were $718 million.

The following is a summary of changes in the severance and other personnel liabilities related to the 2022 layoff activities, included within accrued expenses and other current liabilities on the condensed consolidated balance sheets (in millions):
Severance Liabilities
Balance as of January 1, 2022$— 
Severance and other personnel costs975 
Cash payments(203)
Balance as of December 31, 2022772 
Adjustments and foreign exchange(38)
Cash payments(727)
Balance as of June 30, 2023$7 
v3.23.2
Earnings per Share
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share
We compute earnings per share (EPS) of Class A and Class B common stock using the two-class method. As the liquidation and dividend rights for both Class A and Class B common stock are identical, the undistributed earnings are allocated on a proportionate basis to the weighted-average number of common shares outstanding for the period.

Basic EPS is computed by dividing net income by the weighted-average number of shares of our Class A and Class B common stock outstanding. For the calculation of diluted EPS, net income for basic EPS is adjusted by the effect of dilutive securities, including awards under our equity compensation plan.

In addition, the computation of the diluted EPS of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted EPS of Class B common stock does not assume the conversion of those shares to Class A common stock. Diluted EPS is computed by dividing the resulting net income by the weighted-average number of fully diluted common shares outstanding.

For the three and six months ended June 30, 2023, 20 million and 25 million shares of Class A common stock equivalents of restricted stock units (RSUs), respectively, were excluded from the diluted EPS calculation as including them would have an anti-dilutive effect. RSUs with anti-dilutive effect were 118 million and 87 million shares for the three and six months ended June 30, 2022, respectively.

Basic and diluted EPS are the same for each class of common stock because they are entitled to the same liquidation and dividend rights.
The numerators and denominators of the basic and diluted EPS computations for our common stock are calculated as follows (in millions, except per share amounts): 
 Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
 Class AClass BClass AClass BClass AClass BClass AClass B
Basic EPS:
Numerator
Net income$6,725 $1,063 $5,673 $1,014 $11,627 $1,871 $12,009 $2,143 
Denominator
Shares used in computation of basic earnings per share2,217 351 2,294 410 2,220 357 2,303 411 
Basic EPS$3.03 $3.03 $2.47 $2.47 $5.24 $5.24 $5.21 $5.21 
Diluted EPS:
Numerator
Net income $6,725 $1,063 $5,673 $1,014 $11,627 $1,871 $12,009 $2,143 
Reallocation of net income as a result of conversion of Class B to Class A common stock1,063 — 1,014 — 1,871 — 2,143 — 
Reallocation of net income to Class B common stock— (18)— (4)— (20)— (11)
Net income for diluted EPS$7,788 $1,045 $6,687 $1,010 $13,498 $1,851 $14,152 $2,132 
Denominator
Shares used in computation of basic earnings per share2,217 351 2,294 410 2,220 357 2,303 411 
Conversion of Class B to Class A common stock351 — 410 — 357 — 411 — 
Weighted-average effect of dilutive RSUs44 — 9 — 27 — 15 — 
Shares used in computation of diluted earnings per share2,612 351 2,713 410 2,604 357 2,729 411 
Diluted EPS$2.98 $2.98 $2.46 $2.46 $5.18 $5.18 $5.19 $5.19 
v3.23.2
Financial Instruments
 6 Months Ended
Jun. 30, 2023
Financial Instruments [Abstract]  
Financial Instruments Financial Instruments
We have cash deposits with financial institutions globally. As part of our cash management strategy, we concentrate cash deposits with large financial institutions subject to the strictest regulations and our marketable securities are held in diversified highly rated securities.

Instruments Measured at Fair Value

We classify our cash equivalents and marketable debt securities within Level 1 or Level 2 because we use quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair value. Our marketable equity securities are publicly traded stocks measured at fair value and classified within Level 1 in the fair value hierarchy because we use quoted prices for identical assets in active markets to estimate their fair value. Certain other assets are classified within Level 3 because factors used to develop the estimated fair value are unobservable inputs that are not supported by market activity.

The following tables summarize our assets measured at fair value on a recurring basis and the classification by level of input within the fair value hierarchy (in millions):
  Fair Value Measurement at Reporting Date Using
DescriptionJune 30, 2023Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash$6,122 
Cash equivalents:
Money market funds21,055 $21,055 $— $— 
U.S. government and agency securities946 946 — — 
Time deposits514 — 514 — 
Corporate debt securities148 — 148 — 
Total cash and cash equivalents28,785 22,001 662 — 
Marketable securities:
U.S. government securities8,497 8,497 — — 
U.S. government agency securities4,504 4,504 — — 
Corporate debt securities11,660 — 11,660 — 
Total marketable securities24,661 13,001 11,660 — 
Restricted cash equivalents837 837 — — 
Other assets94 — — 94 
Total$54,377 $35,839 $12,322 $94 
  Fair Value Measurement at Reporting Date Using
DescriptionDecember 31, 2022Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash$6,176 
Cash equivalents:
Money market funds8,305 $8,305 $— $— 
U.S. government and agency securities16 16 — — 
Time deposits156 — 156 — 
Corporate debt securities28 — 28 — 
Total cash and cash equivalents14,681 8,321 184 — 
Marketable securities:
U.S. government securities8,708 8,708 — — 
U.S. government agency securities4,989 4,989 — — 
Corporate debt securities12,335 — 12,335 — 
Marketable equity securities25 25 — — 
Total marketable securities26,057 13,722 12,335 — 
Restricted cash equivalents583 583 — — 
Other assets157 — — 157 
Total$41,478 $22,626 $12,519 $157 
Unrealized Losses on Marketable Debt Securities

The following tables summarize our available-for-sale marketable debt securities with unrealized losses as of June 30, 2023 and December 31, 2022, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions):
June 30, 2023
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$2,183 $(88)$5,949 $(349)$8,132 $(437)
U.S. government agency securities141 (4)4,206 (263)4,347 (267)
Corporate debt securities1,259 (25)9,901 (743)11,160 (768)
Total$3,583 $(117)$20,056 $(1,355)$23,639 $(1,472)
December 31, 2022
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$5,008 $(234)$3,499 $(247)$8,507 $(481)
U.S. government agency securities524 (17)4,415 (308)4,939 (325)
Corporate debt securities4,555 (249)7,256 (634)11,811 (883)
Total$10,087 $(500)$15,170 $(1,189)$25,257 $(1,689)

The decrease in the gross unrealized losses for the six months ended June 30, 2023 is due to a shorter average portfolio duration. The allowance for credit losses and the gross unrealized gains on our marketable debt securities were not material as of June 30, 2023 and December 31, 2022.
Contractual Maturities

The following table classifies our marketable debt securities by contractual maturities (in millions):
June 30, 2023
Due within one year$5,703 
Due after one year to five years18,958 
Total$24,661 

Instruments Measured at Fair Value on Non-recurring Basis

Our non-marketable equity securities accounted for using the measurement alternative are measured at fair value on a non-recurring basis and are classified within Level 3 of the fair value hierarchy because we use significant unobservable inputs to estimate their fair value. Assets remeasured at fair value on a non-recurring basis within Level 3 during the six months ended June 30, 2023 and 2022 were $119 million and $184 million, respectively. For additional information, see Note 6 — Non-marketable Equity Securities.
v3.23.2
Non-marketable Equity Securities
 6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Non-marketable Equity Securities Non-marketable Equity Securities
Our non-marketable equity securities are investments in privately-held companies without readily determinable fair values. The following table summarizes our non-marketable equity securities that were measured using measurement alternative and equity method (in millions):
June 30, 2023December 31, 2022
Non-marketable equity securities under measurement alternative:
Initial cost$6,389 $6,388 
Cumulative upward adjustments293 293 
Cumulative impairment/downward adjustments(533)(497)
Carrying value6,149 6,184 
Non-marketable equity securities under equity method59 17 
Total$6,208 $6,201 
v3.23.2
Property and Equipment
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consists of the following (in millions): 
June 30, 2023December 31, 2022
Land$1,875 $1,874 
Servers and network assets40,824 34,330 
Buildings32,446 27,720 
Leasehold improvements6,661 6,522 
Equipment and other6,449 5,642 
Finance lease right-of-use assets3,804 3,353 
Construction in progress24,843 25,052 
Property and equipment, gross116,902 104,493 
Less: Accumulated depreciation(28,953)(24,975)
Property and equipment, net$87,949 $79,518 
Construction in progress includes costs mostly related to construction of data centers, network infrastructure, servers, and office facilities. As of June 30, 2023, construction in progress also includes $1.48 billion of servers and network assets components stored by our suppliers until required by our design manufacturers to fulfill certain purchase orders.

Depreciation expense on property and equipment was $2.58 billion and $1.93 billion for the three months ended June 30, 2023 and 2022, respectively, and $5.06 billion and $4.04 billion for the six months ended June 30, 2023 and 2022, respectively. The majority of the property and equipment depreciation expense was from servers and network assets depreciation of $1.71 billion and $1.20 billion for the three months ended June 30, 2023 and 2022, respectively, and $3.22 billion and $2.56 billion for the six months ended June 30, 2023 and 2022, respectively. During the three and six months ended June 30, 2023, we capitalized $63 million and $116 million of interest expense, respectively, related to certain eligible construction in progress assets.
During the three and six months ended June 30, 2023, we recorded $94 million and $191 million of impairment loss mostly for leasehold improvements assets as a part of our facilities consolidation restructuring efforts, respectively. For additional information, see Note 3 — Restructuring.
v3.23.2
Leases
 6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Leases Leases
We have entered into various non-cancelable operating lease agreements mostly for our offices, data centers, colocations, and land. We have also entered into various non-cancelable finance lease agreements for certain network infrastructure. Our leases have original lease periods expiring between the remainder of 2023 and 2093. Many leases include one or more options to renew. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured. Our lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.

The components of lease costs are as follows (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Finance lease cost:
Amortization of right-of-use assets$80 $95 $184 $193 
Interest5 4 10 8 
Operating lease cost516 435 1,073 846 
Variable lease cost and other, net112 86 236 176 
Total lease cost$713 $620 $1,503 $1,223 

During the three and six months ended June 30, 2023, we also recorded $138 million and $811 million, respectively, of impairment loss for operating lease right-of-use assets as a part of our facilities consolidation restructuring efforts. For additional information, see Note 3 — Restructuring.

Supplemental balance sheet information related to lease liabilities is as follows:
June 30, 2023December 31, 2022
Weighted-average remaining lease term:
Finance leases14.1 years14.4 years
Operating leases 12.3 years12.5 years
Weighted-average discount rate:
Finance leases3.2 %3.1 %
Operating leases3.4 %3.2 %
The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2023 (in millions):
Operating LeasesFinance Leases
The remainder of 2023$848 $168 
20242,232 60 
20252,002 61 
20261,948 59 
20271,933 57 
Thereafter13,362 504 
Total undiscounted cash flows22,325 909 
Less: Imputed interest(4,489)(149)
Present value of lease liabilities (1)
$17,836 $760 
Lease liabilities, current$1,396 $181 
Lease liabilities, non-current16,440 579 
Present value of lease liabilities (1)
$17,836 $760 
____________________________________
(1)    Lease liabilities include those operating leases that we plan to sublease or abandon as a part of our facilities consolidation restructuring efforts. For additional information, see Note 3 — Restructuring.

The table above does not include lease payments that were not fixed at commencement or lease modification. As of June 30, 2023, we have additional operating and finance leases, that have not yet commenced, with lease obligations of approximately $9.62 billion and $1.25 billion, respectively, for data centers, colocations, network infrastructure and offices. These operating and finance leases will commence between the remainder of 2023 and 2028 with lease terms of greater than one year to 30 years.

Supplemental cash flow information related to leases is as follows (in millions):
Six Months Ended June 30,
20232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$994 $779 
Operating cash flows for finance leases$10 $8 
Financing cash flows for finance leases$484 $452 
Lease liabilities arising from obtaining right-of-use assets:
Operating leases$1,868 $3,073 
Finance leases$338 $103 
Leases Leases
We have entered into various non-cancelable operating lease agreements mostly for our offices, data centers, colocations, and land. We have also entered into various non-cancelable finance lease agreements for certain network infrastructure. Our leases have original lease periods expiring between the remainder of 2023 and 2093. Many leases include one or more options to renew. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured. Our lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.

The components of lease costs are as follows (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Finance lease cost:
Amortization of right-of-use assets$80 $95 $184 $193 
Interest5 4 10 8 
Operating lease cost516 435 1,073 846 
Variable lease cost and other, net112 86 236 176 
Total lease cost$713 $620 $1,503 $1,223 

During the three and six months ended June 30, 2023, we also recorded $138 million and $811 million, respectively, of impairment loss for operating lease right-of-use assets as a part of our facilities consolidation restructuring efforts. For additional information, see Note 3 — Restructuring.

Supplemental balance sheet information related to lease liabilities is as follows:
June 30, 2023December 31, 2022
Weighted-average remaining lease term:
Finance leases14.1 years14.4 years
Operating leases 12.3 years12.5 years
Weighted-average discount rate:
Finance leases3.2 %3.1 %
Operating leases3.4 %3.2 %
The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2023 (in millions):
Operating LeasesFinance Leases
The remainder of 2023$848 $168 
20242,232 60 
20252,002 61 
20261,948 59 
20271,933 57 
Thereafter13,362 504 
Total undiscounted cash flows22,325 909 
Less: Imputed interest(4,489)(149)
Present value of lease liabilities (1)
$17,836 $760 
Lease liabilities, current$1,396 $181 
Lease liabilities, non-current16,440 579 
Present value of lease liabilities (1)
$17,836 $760 
____________________________________
(1)    Lease liabilities include those operating leases that we plan to sublease or abandon as a part of our facilities consolidation restructuring efforts. For additional information, see Note 3 — Restructuring.

The table above does not include lease payments that were not fixed at commencement or lease modification. As of June 30, 2023, we have additional operating and finance leases, that have not yet commenced, with lease obligations of approximately $9.62 billion and $1.25 billion, respectively, for data centers, colocations, network infrastructure and offices. These operating and finance leases will commence between the remainder of 2023 and 2028 with lease terms of greater than one year to 30 years.

Supplemental cash flow information related to leases is as follows (in millions):
Six Months Ended June 30,
20232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$994 $779 
Operating cash flows for finance leases$10 $8 
Financing cash flows for finance leases$484 $452 
Lease liabilities arising from obtaining right-of-use assets:
Operating leases$1,868 $3,073 
Finance leases$338 $103 
v3.23.2
Acquisitions, Goodwill, and Intangible Assets
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Acquisitions, Goodwill, and Intangible Assets Acquisitions, Goodwill, and Intangible AssetsDuring the six months ended June 30, 2023, we completed business acquisitions with total purchase consideration of $467 million in cash. Substantially all of the total consideration was allocated to $99 million of intangible assets and $357 million of goodwill. Goodwill generated from these business acquisitions completed was primarily attributable to expected synergies and potential monetization opportunities. The amount of goodwill generated that was deductible for tax purposes was not material. Acquisition-related costs were immaterial and were expensed as incurred. Pro forma historical results of operations related to these business acquisitions have not been presented because they are not significant to our condensed consolidated financial statements, either individually or in aggregate. We have included the financial results of these acquired businesses in our condensed consolidated financial statements from their respective dates of acquisition.
Changes in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2023 are as follows (in millions): 
Family of AppsReality LabsTotal
Goodwill at December 31, 2022$19,250 $1,056 $20,306 
Acquisitions— 357 357 
Adjustments(4)— (4)
Goodwill at June 30, 2023$19,246 $1,413 $20,659 

The following table sets forth the major categories of the intangible assets and their weighted‑average remaining useful lives (in millions):
June 30, 2023December 31, 2022
Weighted-Average Remaining Useful Lives
(in years)		Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Acquired technology5.0$464 $(131)$333 $507 $(144)$363 
Acquired patents2.7347 (276)71 380 (289)91 
Other1.844 (17)27 86 (25)61 
Total finite-lived assets855 (424)431 973 (458)515 
Total indefinite-lived assetsN/A425 — 425 382 — 382 
Total intangible assets$1,280 $(424)$856 $1,355 $(458)$897 

Amortization expense of intangible assets was $45 million and $53 million for the three months ended June 30, 2023 and 2022, respectively, and $92 million and $93 million for the six months ended June 30, 2023 and 2022, respectively.

As of June 30, 2023, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in millions):
The remainder of 2023$82 
2024131 
202591 
202643 
202724 
Thereafter60 
Total$431 
v3.23.2
Long-term Debt
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Long-term Debt Long-term Debt
As of June 30, 2023, we had $18.50 billion of fixed-rate senior unsecured notes (the "Notes"), including $10.0 billion issued in August 2022 and $8.50 billion issued in May 2023. The following table summarizes the Notes and the carrying amount of our debt (in millions, except percentages):
MaturityStated Interest RateEffective Interest RateJune 30, 2023December 31, 2022
August 2022 debt:
2027 Notes20273.50%3.63%$2,750 $2,750 
2032 Notes20323.85%3.92%3,000 3,000 
2052 Notes20524.45%4.51%2,750 2,750 
2062 Notes20624.65%4.71%1,500 1,500 
May 2023 debt:
2028 Notes20284.60%4.68%1,500 
2030 Notes20304.80%4.90%1,000 
2033 Notes20334.95%5.00%1,750 
2053 Notes20535.60%5.64%2,500 
2063 Notes20635.75%5.79%1,750 
Total face amount of long-term debt18,500 10,000 
Unamortized discount and issuance costs, net(118)(77)
Long-term debt$18,382 $9,923 

Each series of the Notes in the table above rank equally with each other. Interest on the Notes is payable semi-annually in arrears. We may redeem the Notes at any time, in whole or in part, at specified redemption prices. We are not subject to any financial covenants under the Notes. For the three and six months ended June 30, 2023, interest expense, net of capitalized interest, recognized on the debt was $110 million and $159 million, respectively.

The total estimated fair value of our outstanding debt was $17.71 billion as of June 30, 2023. The fair value was determined based on the closing trading price per $100 of the Notes as of June 30, 2023 and is categorized accordingly as Level 2 in the fair value hierarchy.

As of June 30, 2023, future principal payments for the Notes, by year, are as follows (in millions):
Remainder of 2023 through 2026$— 
20272,750 
Thereafter15,750 
Total outstanding debt$18,500 
v3.23.2
Liabilities
 6 Months Ended
Jun. 30, 2023
Accounts Payable and Accrued Liabilities [Abstract]  
Liabilities Liabilities
The components of accrued expenses and other current liabilities are as follows (in millions):
June 30, 2023December 31, 2022
Legal-related accruals (1)
$7,456 $4,795 
Accrued compensation and benefits4,338 4,591 
Accrued property and equipment2,306 2,921 
Accrued taxes5,837 2,339 
Other current liabilities4,723 4,906 
Accrued expenses and other current liabilities$24,660 $19,552 
____________________________________
(1)Includes accruals for estimated fines, settlements, or other losses in connection with legal and related matters, as well as other legal fees. For further information, see Legal and Related Matters in Note 12 — Commitments and Contingencies.

The components of other liabilities are as follows (in millions):
June 30, 2023December 31, 2022
Income tax payable$6,570 $6,645 
Other non-current liabilities1,342 1,119 
Other liabilities$7,912 $7,764 
v3.23.2
Commitments and Contingencies
 6 Months Ended
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Contractual Commitments

We have $19.68 billion of non-cancelable contractual commitments as of June 30, 2023, which are primarily related to our investments in servers, network infrastructure, and consumer hardware products in Reality Labs. The following is a schedule, by years, of non-cancelable contractual commitments as of June 30, 2023 (in millions):
The remainder of 2023$12,346 
20242,836 
20251,414 
2026301 
2027213 
Thereafter2,573 
Total$19,683 

Additionally, as part of the normal course of business, we have entered into multi-year agreements to purchase renewable energy that do not specify a fixed or minimum volume commitment or to purchase certain server components that do not specify a fixed or minimum price commitment. We enter into these agreements in order to secure either volume or price. Using the projected market prices or expected volume consumption, the total estimated spend as of June 30, 2023 is approximately $12.27 billion, a majority of which is due beyond five years. The ultimate spend under these agreements may vary and will be based on prevailing market prices or actual volume purchased.

Legal and Related Matters

With respect to the cases, actions, and inquiries described below, we evaluate the associated developments on a regular basis and accrue a liability when we believe a loss is probable and the amount can be reasonably estimated. In addition, we believe there is a reasonable possibility that we may incur a loss in some of these matters. With respect to the matters
described below that do not include an estimate of the amount of loss or range of possible loss, such losses or range of possible losses either cannot be estimated or are not individually material, but we believe there is a reasonable possibility that they may be material in the aggregate.

We are also party to various other legal proceedings, claims, and regulatory, tax or government inquiries and investigations that arise in the ordinary course of business. Additionally, we are required to comply with various legal and regulatory obligations around the world. The requirements for complying with these obligations may be uncertain and subject to interpretation and enforcement by regulatory and other authorities, and any failure to comply with such obligations could eventually lead to asserted legal or regulatory action. With respect to these other legal proceedings, claims, regulatory, tax, or government inquiries and investigations, and other matters, asserted and unasserted, we evaluate the associated developments on a regular basis and accrue a liability when we believe a loss is probable and the amount can be reasonably estimated. In addition, we believe there is a reasonable possibility that we may incur a loss in some of these other matters. We believe that the amount of losses or any estimable range of possible losses with respect to these other matters will not, either individually or in the aggregate, have a material adverse effect on our business and condensed consolidated financial statements.

The ultimate outcome of the legal and related matters described in this section, such as whether the likelihood of loss is remote, reasonably possible, or probable, or if and when the reasonably possible range of loss is estimable, is inherently uncertain. Therefore, if one or more of these matters were resolved against us for amounts in excess of management's estimates of loss, our results of operations and financial condition, including in a particular reporting period in which any such outcome becomes probable and estimable, could be materially adversely affected.

For information regarding income tax contingencies, see Note 14 — Income Taxes.

Privacy and Related Matters

Beginning on March 20, 2018, multiple putative class actions were filed in state and federal courts in the United States and elsewhere against us and certain of our directors and officers alleging various causes of action in connection with our platform and user data practices as well as the misuse of certain data by a developer that shared such data with third parties in violation of our terms and policies, and seeking unspecified damages and injunctive relief. With respect to the putative class actions alleging fraud and violations of consumer protection, privacy, and other laws in connection with the same matters, several of the cases brought on behalf of consumers in the United States were consolidated in the U.S. District Court for the Northern District of California. On September 9, 2019, the court granted, in part, and denied, in part, our motion to dismiss the consolidated putative consumer class action. On December 22, 2022, the parties entered into a settlement agreement to resolve the lawsuit, which provides for a payment of $725 million by us and is subject to court approval. In addition, our platform and user data practices, as well as the events surrounding the misuse of certain data by a developer, became the subject of U.S. Federal Trade Commission (FTC), state attorneys general, and other government inquiries in the United States, Europe, and other jurisdictions. We entered into a settlement and modified consent order to resolve the FTC inquiry, which took effect in April 2020. Among other matters, our settlement with the FTC required us to pay a penalty of $5.0 billion which was paid in April 2020 upon the effectiveness of the modified consent order. The state attorneys general inquiry and certain government inquiries in other jurisdictions remain ongoing. We believe the lawsuits described above are without merit, and we are vigorously defending them. On July 16, 2021, a stockholder derivative action was filed in Delaware Chancery Court against certain of our directors and officers asserting breach of fiduciary duty and related claims relating to our historical platform and user data practices, as well as our settlement with the FTC. On July 20, 2021, other stockholders filed an amended derivative complaint in a related Delaware Chancery Court action, asserting breach of fiduciary duty and related claims against certain of our current and former directors and officers in connection with our historical platform and user data practices. On November 4, 2021, the lead plaintiffs filed a second amended and consolidated complaint in the stockholder derivative action. On January 19, 2022, we filed a motion to dismiss, which was denied in part on May 10, 2023. The insider trading claim was dismissed as to all defendants except Mark Zuckerberg, and the motion was denied as to the breach of fiduciary duty claims.

On May 3, 2023, the FTC filed a public administrative proceeding, 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. Among the modifications sought by the FTC are 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 seeking to enjoin the FTC from
further pursuing its agency process to modify the modified consent order. Argument is scheduled before the court on October 17, 2023.

We also notify the Irish Data Protection Commission (IDPC), our lead European Union privacy regulator under the General Data Protection Regulation (GDPR), of certain other personal data breaches and privacy issues, and are subject to inquiries and investigations by the IDPC and other European regulators regarding various aspects of our regulatory compliance. For example, on May 12, 2023, the IDPC issued a Final Decision concluding that Meta Platforms Ireland's reliance on Standard Contractual Clauses in respect of certain transfers of European Economic Area (EEA) Facebook user data was not in compliance with the GDPR. The IDPC issued an administrative fine of EUR €1.2 billion as well as corrective orders, which is described further in "Legal Proceedings" contained in Part II, Item 1 of this Quarterly Report on Form 10-Q. The interpretation of the GDPR is still evolving, including through decisions of the Court of Justice of the European Union, and draft decisions in investigations by the IDPC are subject to review by other European privacy regulators as part of the GDPR's cooperation and consistency mechanisms, which may lead to significant changes in the final outcome of such investigations. As a result, the interpretation and enforcement of the GDPR, as well as the imposition and amount of penalties for non-compliance, are subject to significant uncertainty. Although we are vigorously defending our regulatory compliance, we have accrued significant amounts for loss contingencies related to these inquiries and investigations in Europe, and we believe there is a reasonable possibility that additional accruals for losses related to these matters could be material individually or in the aggregate.

On February 14, 2022, the State of Texas filed a lawsuit against us in Texas state court alleging that "tag suggestions" and other uses of facial recognition technology violated the Texas Capture or Use of Biometric Identifiers Act and the Texas Deceptive Trade Practices-Consumer Protection Act, and seeking statutory damages and injunctive relief. The case is currently scheduled for trial in January 2024. We believe this lawsuit is without merit, and we are vigorously defending it.

Beginning on June 7, 2021, multiple putative class actions were filed against us alleging that we improperly received individuals' information from third-party websites or apps via our business tools in violation of our terms and various state and federal laws and seeking unspecified damages and injunctive relief. We believe these lawsuits are without merit, and we are vigorously defending them.

Competition

We are subject to various litigation and government inquiries and investigations, formal or informal, by competition authorities in the United States, Europe, and other jurisdictions. Such investigations, inquiries, and lawsuits concern, among other things, our business practices in the areas of social networking or social media services, digital advertising, and/or mobile or online applications, as well as our acquisitions. For example, in June 2019 we were informed by the FTC that it had opened an antitrust investigation of our company. On December 9, 2020, the FTC filed a complaint against us in the U.S. District Court for the District of Columbia alleging that we engaged in anticompetitive conduct and unfair methods of competition in violation of Section 5 of the Federal Trade Commission Act and Section 2 of the Sherman Act, including by acquiring Instagram in 2012 and WhatsApp in 2014 and by maintaining conditions on access to our platform. In addition, beginning in the third quarter of 2019, we became the subject of antitrust investigations by the U.S. Department of Justice and state attorneys general. On December 9, 2020, the attorneys general from 46 states, the territory of Guam, and the District of Columbia filed a complaint against us in the U.S. District Court for the District of Columbia alleging that we engaged in anticompetitive conduct in violation of Section 2 of the Sherman Act, including by acquiring Instagram in 2012 and WhatsApp in 2014 and by maintaining conditions on access to our platform. The complaint also alleged that we violated Section 7 of the Clayton Act by acquiring Instagram and WhatsApp. The complaints of the FTC and attorneys general both sought a permanent injunction against our company's alleged violations of the antitrust laws, and other equitable relief, including divestiture or reconstruction of Instagram and WhatsApp. On June 28, 2021, the court granted our motions to dismiss the complaints filed by the FTC and attorneys general, dismissing the FTC's complaint with leave to amend and dismissing the attorneys general's case without prejudice. On July 28, 2021, the attorneys general filed a notice of appeal of the order dismissing their case and on April 27, 2023, the U.S. Court of Appeals for the District of Columbia Circuit affirmed the lower court's order dismissing the attorneys general's complaint. On August 19, 2021, the FTC filed an amended complaint, and on October 4, 2021, we filed a motion to dismiss this amended complaint. On January 11, 2022, the court denied our motion to dismiss the FTC's amended complaint. Multiple putative class actions have also been filed in state and federal courts in the United States and in the United Kingdom against us alleging violations of antitrust laws and other causes of action in connection with these acquisitions and/or other alleged anticompetitive conduct, and seeking damages and
injunctive relief. Several of the cases brought on behalf of certain advertisers and users in the United States were consolidated in the U.S. District Court for the Northern District of California. On January 14, 2022, the court granted, in part, and denied, in part, our motion to dismiss the consolidated actions. On March 1, 2022, a first amended consolidated complaint was filed in the putative class action brought on behalf of certain advertisers. On December 6, 2022, the court denied our motion to dismiss the first amended consolidated complaint filed in the putative class action brought on behalf of certain advertisers. We believe these lawsuits are without merit, and we are vigorously defending them. In December 2022, the European Commission issued a Statement of Objections alleging that we tie Facebook Marketplace to Facebook and use data in a manner that infringes European Union competition rules. We believe this case to be without merit, and we are vigorously defending it.

Securities and Other Actions

Beginning on March 20, 2018, multiple putative class actions and derivative actions were filed in state and federal courts in the United States and elsewhere against us and certain of our directors and officers alleging violations of securities laws, breach of fiduciary duties, and other causes of action in connection with our platform and user data practices as well as the misuse of certain data by a developer that shared such data with third parties in violation of our terms and policies, and seeking unspecified damages and injunctive relief. Beginning on July 27, 2018, two putative class actions were filed in federal court in the United States against us and certain of our directors and officers alleging violations of securities laws in connection with the disclosure of our earnings results for the second quarter of 2018 and seeking unspecified damages. These two actions subsequently were transferred and consolidated in the U.S. District Court for the Northern District of California with the putative securities class action described above relating to our platform and user data practices. In a series of orders in 2019 and 2020, the district court granted our motions to dismiss the plaintiffs' claims. On January 17, 2022, the plaintiffs filed a notice of appeal of the order dismissing their case, and the appeal is now pending before the U.S. Court of Appeals for the Ninth Circuit. We believe the lawsuits described above are without merit, and we are vigorously defending them.

Beginning on August 15, 2018, multiple putative class actions were filed against us alleging that we inflated our estimates of the potential audience size for advertisements, resulting in artificially increased demand and higher prices. The cases were consolidated in the U.S. District Court for the Northern District of California and seek unspecified damages and injunctive relief. In a series of rulings in 2019, 2021, and 2022, the court dismissed certain of the plaintiffs' claims, but permitted their fraud and unfair competition claims to proceed. On March 29, 2022, the court granted the plaintiffs' motion for class certification. On June 21, 2022, the U.S. Court of Appeals for the Ninth Circuit granted our petition for permission to appeal the district court's class certification order, and the district court subsequently stayed the case and is scheduled to hear argument on September 12, 2023. We believe this lawsuit is without merit, and we are vigorously defending it.

We are also subject to other government inquiries and investigations relating to our business activities and disclosure practices. For example, beginning in September 2021, we became subject to government investigations and requests relating to a former employee's allegations and release of internal company documents concerning, among other things, our algorithms, advertising and user metrics, and content enforcement practices, as well as misinformation and other undesirable activity on our platform, and user well-being. We have since received additional requests relating to these and other topics. Beginning on October 27, 2021, multiple putative class actions and derivative actions were filed in the U.S. District Court for the Northern District of California against us and certain of our directors and officers alleging violations of securities laws, breach of fiduciary duties, and other causes of action in connection with the same matters, and seeking unspecified damages. We believe these lawsuits are without merit, and we are vigorously defending them.

Beginning in January 2022, we became subject to litigation and other proceedings that were filed in various federal and state courts alleging that Facebook and Instagram cause "social media addiction" in users, with most proceedings focused on those under 18 years old, resulting in various mental health and other harms. Putative class actions have been filed in the United States and Canada on behalf of users in those jurisdictions, and numerous school districts, municipalities and one state in the United States have filed public nuisance claims based on similar allegations. On October 6, 2022, the federal cases were centralized in the U.S. District Court for the Northern District of California. The California state court proceedings are now pending before a trial judge from Los Angeles County Superior Court. We believe these lawsuits are without merit, and we are vigorously defending them. We are also subject to government investigations and requests from multiple regulators concerning the use of our products, and the related mental and physical health and safety impacts on teenage users.
On March 8, 2022, a putative class action was filed in the U.S. District Court for the Northern District of California against us and certain of our directors and officers alleging violations of securities laws in connection with the disclosure of our earnings results for the fourth quarter of 2021 and seeking unspecified damages. On July 18, 2023, the court dismissed the claims against Meta and its officers with leave to amend. We believe this lawsuit is without merit, and we are vigorously defending it.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.
v3.23.2
Stockholders' Equity
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
Share Repurchase Program

Our board of directors has authorized a share repurchase program of our Class A common stock, which commenced in January 2017 and does not have an expiration date. As of December 31, 2022, $10.87 billion remained available and authorized for repurchases under this program. In January 2023, an additional $40 billion of repurchases was authorized under this program. During the six months ended June 30, 2023, we repurchased and subsequently retired 60 million shares of our Class A common stock for an aggregate amount of $10.01 billion, including $59 million related to the 1% excise tax on net share repurchases as a result of the Inflation Reduction Act of 2022. As of June 30, 2023, $40.91 billion remained available and authorized for repurchases.

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

Share-based Compensation Plan

In December 2022, our board of directors approved an amendment to our 2012 Equity Incentive Plan (Amended 2012 Plan) to increase the number of shares reserved for issuance under the Amended 2012 Plan by 425 million shares, effective March 1, 2023 (Plan Amendment). The Plan Amendment was also approved by holders of a majority of the voting power of our outstanding capital stock in December 2022. As of June 30, 2023, there were 475 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 condensed consolidated statements of income (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Cost of revenue$193 $213 $352 $373 
Research and development3,305 2,606 5,754 4,547 
Marketing and sales289 289 509 506 
General and administrative273 243 496 424 
Total share-based compensation expense$4,060 $3,351 $7,111 $5,850 
The following table summarizes the activities for our unvested RSUs for the six months ended June 30, 2023:
Number of SharesWeighted-Average Grant Date Fair Value Per Share
(in thousands)
Unvested at December 31, 2022127,110 $216.93 
Granted107,550 $197.24 
Vested(31,987)$210.65 
Forfeited(19,704)$210.36 
Unvested at June 30, 2023182,969 $207.16 

The fair value as of the respective vesting dates of RSUs that vested during the three months ended June 30, 2023 and 2022 was $4.30 billion and $2.75 billion, respectively, and $6.74 billion and $5.18 billion during the six months ended June 30, 2023 and 2022, respectively. The income tax benefit recognized related to awards vested during the three months ended June 30, 2023 and 2022 was $915 million and $582 million, respectively, and $1.43 billion and $1.10 billion during the six months ended June 30, 2023 and 2022, respectively.

As of June 30, 2023, there was $35.96 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.
v3.23.2
Income Taxes
 6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our tax provision for interim periods is determined using an estimated annual effective tax rate, adjusted for discrete items arising in that quarter. In each quarter, we update the estimated annual effective tax rate and make a year-to-date adjustment to the provision. The estimated annual effective tax rate is subject to significant volatility due to several factors, including our ability to accurately predict the proportion of our income (loss) before provision for income taxes in multiple jurisdictions, the U.S. tax benefits from foreign derived intangible income, the effects of tax law changes, the effects of acquisitions, and the integration of those acquisitions.

Our gross unrecognized tax benefits were $10.99 billion and $10.76 billion on June 30, 2023 and December 31, 2022, respectively. These unrecognized tax benefits were primarily accrued for the uncertainties related to transfer pricing with our foreign subsidiaries, which include licensing of intellectual property, providing services and other transactions, as well as for uncertainties with our research tax credits. If the gross unrecognized tax benefits as of June 30, 2023 were realized in a future period, this would result in a tax benefit of $6.68 billion within our provision for income taxes at such time. The amount of interest and penalties accrued was $1.27 billion and $1.07 billion as of June 30, 2023 and December 31, 2022, respectively. We expect to continue to accrue unrecognized tax benefits for certain recurring tax positions.

In July 2016, we received a Statutory Notice of Deficiency (Notice) from the Internal Revenue Service (IRS) related to transfer pricing with our foreign subsidiaries in conjunction with the examination of the 2010 tax year. While the Notice applies only to the 2010 tax year, the IRS stated that it will also apply its position for tax years subsequent to 2010 and has done so in years covered by the second Notice described below. We do not agree with the position of the IRS and have filed a petition in the Tax Court challenging the Notice. On January 15, 2020, the IRS's amendment to answer was filed stating that it planned to assert at trial an adjustment that is higher than the adjustment stated in the Notice. The first session of the trial was completed in March 2020 and the final trial session was completed in August 2022. We expect the Tax Court to issue an opinion in 2024. Based on the information provided, we believe that, if the IRS prevails in its updated position, this could result in an additional federal tax liability of an estimated, aggregate amount of up to approximately $9.0 billion in excess of the amounts in our originally filed U.S. return, plus interest and any penalties asserted.

In March 2018, we received a second Notice from the IRS in conjunction with the examination of our 2011 through 2013 tax years. The IRS applied its position from the 2010 tax year to each of these years and also proposed new adjustments related to other transfer pricing with our foreign subsidiaries and certain tax credits that we claimed. If the IRS prevails in its
position for these new adjustments, this could result in an additional federal tax liability of up to approximately $680 million in excess of the amounts in our originally filed U.S. returns, plus interest and any penalties asserted. We do not agree with the positions of the IRS in the second Notice and have filed a petition in the Tax Court challenging the second Notice.

We have previously accrued an estimated unrecognized tax benefit consistent with the guidance in ASC 740, Income Taxes (ASC 740), that is lower than the potential additional federal tax liability from the positions taken by the IRS in the two Notices and its Pretrial Memorandum. In addition, if the IRS prevails in its positions related to transfer pricing with our foreign subsidiaries, the additional tax that we would owe would be partially offset by a reduction in the tax that we owe under the mandatory transition tax on accumulated foreign earnings from the 2017 Tax Cuts and Jobs Act. As of June 30, 2023, we have not resolved these matters and proceedings continue in the Tax Court.
v3.23.2
Segment and Geographical Information
 6 Months Ended
Jun. 30, 2023
Segments, Geographical Areas [Abstract]  
Segment and Geographical Information Segment and Geographical Information
We report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes augmented and virtual reality related consumer hardware, software, and content. Our operating segments are the same as our reportable segments.

Revenue and costs and expenses are generally directly attributed to our segments. These costs and expenses include certain product development related operating expenses, costs associated with partnership arrangements, consumer hardware product costs, content costs, and legal-related costs. Indirect costs are allocated to segments based on a reasonable allocation methodology, when such costs are significant to the performance measures of the operating segments. Indirect cost of revenue is allocated to our segments based on usage, such as costs related to the operation of our data centers and technical infrastructure. Indirect operating expenses, such as facilities, information technology, certain shared research and development activities, recruiting, and physical security expenses, are mostly allocated based on headcount.

The following table sets forth our segment information of revenue and income (loss) from operations (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
Revenue:
Family of Apps$31,723 $28,370 $60,029 $55,583 
Reality Labs276 452 616 1,146 
Total revenue$31,999 $28,822 $60,645 $56,729 
Income (loss) from operations:
Family of Apps$13,131 $11,164 $24,351 $22,647 
Reality Labs(3,739)(2,806)(7,732)(5,766)
Total income from operations$9,392 $8,358 $16,619 $16,881 

For information regarding revenue disaggregated by geography, see Note 2 — Revenue.

The following table sets forth our long-lived assets by geographic area, which consist of property and equipment, net and operating lease right-of-use assets (in millions):
June 30, 2023December 31, 2022
United States$83,711 $76,334 
Rest of the world (1)
17,193 15,857 
Total long-lived assets$100,904 $92,191 
____________________________________
(1)    No individual country, other than disclosed above, exceeded 10% of our total long-lived assets for any period presented.
v3.23.2
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Pay vs Performance Disclosure        
Net income $ 7,788 $ 6,687 $ 13,498 $ 14,152
v3.23.2
Insider Trading Arrangements
 3 Months Ended 6 Months Ended
Jun. 30, 2023
shares
Jun. 30, 2023
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  
Nick Clegg [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement   The plan provides for the sale of all shares received during the duration of the plan pursuant to equity awards granted to Mr. Clegg, excluding any shares withheld by the company to satisfy its income tax withholding and remittance obligations in connection with the net settlement of the equity awards. The plan will terminate on May 16, 2024, subject to early termination for certain specified events set forth in the plan.
Name Nick Clegg  
Title President, Global Affairs  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date May 1, 2023  
Susan Li [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement   The plan provides for the sale of an aggregate of 2,108 shares of our Class A common stock and all shares received during the duration of the plan pursuant to equity awards granted to Ms. Li and her spouse, excluding any shares withheld by the company to satisfy its income tax withholding and remittance obligations in connection with the net settlement of the equity awards. The plan will terminate on December 31, 2024, subject to early termination for certain specified events set forth in the plan.
Name Susan Li  
Title Chief Financial Officer  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date May 13, 2023  
Aggregate Available 2,108 2,108
v3.23.2
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2022.

The condensed consolidated balance sheet as of December 31, 2022 included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP.

The condensed consolidated financial statements include the accounts of Meta Platforms, Inc., its subsidiaries where we have controlling financial interests, and any variable interest entities for which we are deemed to be the primary beneficiary. All intercompany balances and transactions have been eliminated.

The accompanying condensed consolidated financial statements reflect all normal recurring adjustments that are necessary to present fairly the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year ending December 31, 2023.
Use of Estimates
Use of Estimates

Preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and judgments that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments we make about the carrying values of our assets and liabilities, which are not readily apparent from other sources. We base our estimates and judgments on historical information and on various other assumptions that we believe are reasonable under the circumstances. GAAP requires us to make estimates and judgments in several areas, including, but not limited to, those related to revenue recognition, valuation of non-marketable equity securities, income taxes, loss contingencies, including the ultimate resolution of litigation, regulatory matters, and asserted and unasserted claims, valuation of long-lived assets including goodwill, intangible assets, and property and equipment, and their associated estimated useful lives, valuation of purchase commitments, credit losses of available-for-sale debt securities and accounts receivable, fair value of financial instruments, and fair value of leases. These estimates are based on management's knowledge about current events, interpretation of regulations, and expectations about actions we may undertake in the future. Actual results could differ materially from those estimates.
Significant Accounting Policies
Significant Accounting Policies

There have been no material changes to our significant accounting policies from our Annual Report on Form 10-K for the fiscal year ended December 31, 2022.
Recently Adopted Accounting Pronouncements
Recently Adopted Accounting Pronouncements

On April 1, 2023 we early adopted Accounting Standards Update (ASU) No. 2023-01, Leases (Topic 842): Common Control Arrangements (ASU 2023-01), which requires leasehold improvements associated with common control leases to be amortized over the useful life to the common control group. The adoption of this new standard did not have a material impact on our condensed consolidated financial statements.
Earnings Per Share
We compute earnings per share (EPS) of Class A and Class B common stock using the two-class method. As the liquidation and dividend rights for both Class A and Class B common stock are identical, the undistributed earnings are allocated on a proportionate basis to the weighted-average number of common shares outstanding for the period.

Basic EPS is computed by dividing net income by the weighted-average number of shares of our Class A and Class B common stock outstanding. For the calculation of diluted EPS, net income for basic EPS is adjusted by the effect of dilutive securities, including awards under our equity compensation plan.

In addition, the computation of the diluted EPS of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted EPS of Class B common stock does not assume the conversion of those shares to Class A common stock. Diluted EPS is computed by dividing the resulting net income by the weighted-average number of fully diluted common shares outstanding.
Segment Reporting
We report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes augmented and virtual reality related consumer hardware, software, and content. Our operating segments are the same as our reportable segments.

Revenue and costs and expenses are generally directly attributed to our segments. These costs and expenses include certain product development related operating expenses, costs associated with partnership arrangements, consumer hardware product costs, content costs, and legal-related costs. Indirect costs are allocated to segments based on a reasonable allocation methodology, when such costs are significant to the performance measures of the operating segments. Indirect cost of revenue is allocated to our segments based on usage, such as costs related to the operation of our data centers and technical infrastructure. Indirect operating expenses, such as facilities, information technology, certain shared research and development activities, recruiting, and physical security expenses, are mostly allocated based on headcount.
v3.23.2
Revenue (Tables)
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Revenue disaggregated by revenue source and by segment consists of the following (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
Advertising$31,498 $28,152 $59,599 $55,150 
Other revenue225 218 430 433 
Family of Apps31,723 28,370 60,029 55,583 
Reality Labs276 452 616 1,146 
Total revenue$31,999 $28,822 $60,645 $56,729 

Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
United States and Canada (1)
$12,404 $12,186 $23,854 $23,965 
Europe (2)
7,515 6,650 14,274 13,288 
Asia-Pacific8,551 6,960 15,843 13,682 
Rest of World (2)
3,529 3,026 6,674 5,794 
Total revenue$31,999 $28,822 $60,645 $56,729 
____________________________________
(1)    United States revenue was $11.66 billion and $11.43 billion for the three months ended June 30, 2023 and 2022, respectively, and $22.45 billion and $22.52 billion for the six months ended June 30, 2023 and 2022, respectively.
(2)    Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East.
v3.23.2
Restructuring (Tables)
 6 Months Ended
Jun. 30, 2023
2023 Restructuring  
Restructuring Cost and Reserve [Line Items]  
Restructuring and Related Costs
A summary of our 2023 Restructuring pre-tax charges recorded for severance and related personnel costs in the three and six months ended June 30, 2023 is as follows (in millions):
Three Months Ended June 30, 2023Six Months Ended June 30, 2023
Research and development$142 $466 
Marketing and sales217 222 
General and administrative237 431 
Total (1)
$596 $1,119 
____________________________
(1)    Total severance and related personnel costs include $40 million and $102 million of share-based compensation expense recognized for the 2023 layoffs during the three and six months ended June 30, 2023, respectively.
2023 Restructuring | Severance and Other Personnel Costs  
Restructuring Cost and Reserve [Line Items]  
Schedule of Restructuring Reserve by Type of Cost
The following is a summary of changes in the accrued severance and other personnel liabilities related to 2023 layoff activities, included within accrued expenses and other current liabilities on the condensed consolidated balance sheets (in millions):
Severance Liabilities
Balance as of January 1, 2023$— 
Severance and other personnel costs1,017 
Cash payments (339)
Balance as of June 30, 2023$678 
2022 Restructuring  
Restructuring Cost and Reserve [Line Items]  
Restructuring and Related Costs
A summary of our 2022 Restructuring pre-tax charges, including subsequent adjustments, is as follows (in millions):
Three Months Ended June 30, 2023Six Months Ended June 30, 2023
Facilities ConsolidationSeverance and Other Personnel Costs
Data Center Assets (1)
TotalFacilities ConsolidationSeverance and Other Personnel Costs
Data Center Assets (1)
Total
Cost of revenue$9 $— $(51)$(42)$67 $— $(220)$(153)
Research and development159 (7)— 152 643 (11)— 632 
Marketing and sales43 1 — 44 179 (1)— 178 
General and administrative36 (6)— 30 165 (18)— 147 
Total $247 $(12)$(51)$184 $1,054 $(30)$(220)$804 
____________________________________
(1)Relates to changes in estimates in our data center restructuring charges recorded during 2022.
2022 Restructuring | Severance and Other Personnel Costs  
Restructuring Cost and Reserve [Line Items]  
Schedule of Restructuring Reserve by Type of Cost
The following is a summary of changes in the severance and other personnel liabilities related to the 2022 layoff activities, included within accrued expenses and other current liabilities on the condensed consolidated balance sheets (in millions):
Severance Liabilities
Balance as of January 1, 2022$— 
Severance and other personnel costs975 
Cash payments(203)
Balance as of December 31, 2022772 
Adjustments and foreign exchange(38)
Cash payments(727)
Balance as of June 30, 2023$7 
v3.23.2
Earnings per Share (Tables)
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Numerators and Denominators of Basic and Diluted EPS Computations for Common Stock
The numerators and denominators of the basic and diluted EPS computations for our common stock are calculated as follows (in millions, except per share amounts): 
 Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
 Class AClass BClass AClass BClass AClass BClass AClass B
Basic EPS:
Numerator
Net income$6,725 $1,063 $5,673 $1,014 $11,627 $1,871 $12,009 $2,143 
Denominator
Shares used in computation of basic earnings per share2,217 351 2,294 410 2,220 357 2,303 411 
Basic EPS$3.03 $3.03 $2.47 $2.47 $5.24 $5.24 $5.21 $5.21 
Diluted EPS:
Numerator
Net income $6,725 $1,063 $5,673 $1,014 $11,627 $1,871 $12,009 $2,143 
Reallocation of net income as a result of conversion of Class B to Class A common stock1,063 — 1,014 — 1,871 — 2,143 — 
Reallocation of net income to Class B common stock— (18)— (4)— (20)— (11)
Net income for diluted EPS$7,788 $1,045 $6,687 $1,010 $13,498 $1,851 $14,152 $2,132 
Denominator
Shares used in computation of basic earnings per share2,217 351 2,294 410 2,220 357 2,303 411 
Conversion of Class B to Class A common stock351 — 410 — 357 — 411 — 
Weighted-average effect of dilutive RSUs44 — 9 — 27 — 15 — 
Shares used in computation of diluted earnings per share2,612 351 2,713 410 2,604 357 2,729 411 
Diluted EPS$2.98 $2.98 $2.46 $2.46 $5.18 $5.18 $5.19 $5.19 
v3.23.2
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2023
Financial Instruments [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following tables summarize our assets measured at fair value on a recurring basis and the classification by level of input within the fair value hierarchy (in millions):
  Fair Value Measurement at Reporting Date Using
DescriptionJune 30, 2023Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash$6,122 
Cash equivalents:
Money market funds21,055 $21,055 $— $— 
U.S. government and agency securities946 946 — — 
Time deposits514 — 514 — 
Corporate debt securities148 — 148 — 
Total cash and cash equivalents28,785 22,001 662 — 
Marketable securities:
U.S. government securities8,497 8,497 — — 
U.S. government agency securities4,504 4,504 — — 
Corporate debt securities11,660 — 11,660 — 
Total marketable securities24,661 13,001 11,660 — 
Restricted cash equivalents837 837 — — 
Other assets94 — — 94 
Total$54,377 $35,839 $12,322 $94 
  Fair Value Measurement at Reporting Date Using
DescriptionDecember 31, 2022Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash$6,176 
Cash equivalents:
Money market funds8,305 $8,305 $— $— 
U.S. government and agency securities16 16 — — 
Time deposits156 — 156 — 
Corporate debt securities28 — 28 — 
Total cash and cash equivalents14,681 8,321 184 — 
Marketable securities:
U.S. government securities8,708 8,708 — — 
U.S. government agency securities4,989 4,989 — — 
Corporate debt securities12,335 — 12,335 — 
Marketable equity securities25 25 — — 
Total marketable securities26,057 13,722 12,335 — 
Restricted cash equivalents583 583 — — 
Other assets157 — — 157 
Total$41,478 $22,626 $12,519 $157 
Available-for-sale Marketable Securities
The following tables summarize our available-for-sale marketable debt securities with unrealized losses as of June 30, 2023 and December 31, 2022, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions):
June 30, 2023
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$2,183 $(88)$5,949 $(349)$8,132 $(437)
U.S. government agency securities141 (4)4,206 (263)4,347 (267)
Corporate debt securities1,259 (25)9,901 (743)11,160 (768)
Total$3,583 $(117)$20,056 $(1,355)$23,639 $(1,472)
December 31, 2022
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$5,008 $(234)$3,499 $(247)$8,507 $(481)
U.S. government agency securities524 (17)4,415 (308)4,939 (325)
Corporate debt securities4,555 (249)7,256 (634)11,811 (883)
Total$10,087 $(500)$15,170 $(1,189)$25,257 $(1,689)
Marketable Securities by Contractual Maturities
The following table classifies our marketable debt securities by contractual maturities (in millions):
June 30, 2023
Due within one year$5,703 
Due after one year to five years18,958 
Total$24,661 
v3.23.2
Non-marketable Equity Securities (Tables)
 6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Carrying Value of Nonmarketable Equity Securities The following table summarizes our non-marketable equity securities that were measured using measurement alternative and equity method (in millions):
June 30, 2023December 31, 2022
Non-marketable equity securities under measurement alternative:
Initial cost$6,389 $6,388 
Cumulative upward adjustments293 293 
Cumulative impairment/downward adjustments(533)(497)
Carrying value6,149 6,184 
Non-marketable equity securities under equity method59 17 
Total$6,208 $6,201 
v3.23.2
Property and Equipment (Tables)
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and equipment, net consists of the following (in millions): 
June 30, 2023December 31, 2022
Land$1,875 $1,874 
Servers and network assets40,824 34,330 
Buildings32,446 27,720 
Leasehold improvements6,661 6,522 
Equipment and other6,449 5,642 
Finance lease right-of-use assets3,804 3,353 
Construction in progress24,843 25,052 
Property and equipment, gross116,902 104,493 
Less: Accumulated depreciation(28,953)(24,975)
Property and equipment, net$87,949 $79,518 
v3.23.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Components of Lease Costs
The components of lease costs are as follows (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Finance lease cost:
Amortization of right-of-use assets$80 $95 $184 $193 
Interest5 4 10 8 
Operating lease cost516 435 1,073 846 
Variable lease cost and other, net112 86 236 176 
Total lease cost$713 $620 $1,503 $1,223 
Lease, Balance Sheet Information
Supplemental balance sheet information related to lease liabilities is as follows:
June 30, 2023December 31, 2022
Weighted-average remaining lease term:
Finance leases14.1 years14.4 years
Operating leases 12.3 years12.5 years
Weighted-average discount rate:
Finance leases3.2 %3.1 %
Operating leases3.4 %3.2 %
Finance Lease, Liability, Maturity
The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2023 (in millions):
Operating LeasesFinance Leases
The remainder of 2023$848 $168 
20242,232 60 
20252,002 61 
20261,948 59 
20271,933 57 
Thereafter13,362 504 
Total undiscounted cash flows22,325 909 
Less: Imputed interest(4,489)(149)
Present value of lease liabilities (1)
$17,836 $760 
Lease liabilities, current$1,396 $181 
Lease liabilities, non-current16,440 579 
Present value of lease liabilities (1)
$17,836 $760 
____________________________________
(1)    Lease liabilities include those operating leases that we plan to sublease or abandon as a part of our facilities consolidation restructuring efforts. For additional information, see Note 3 — Restructuring.
Operating Lease, Liability, Maturity
The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2023 (in millions):
Operating LeasesFinance Leases
The remainder of 2023$848 $168 
20242,232 60 
20252,002 61 
20261,948 59 
20271,933 57 
Thereafter13,362 504 
Total undiscounted cash flows22,325 909 
Less: Imputed interest(4,489)(149)
Present value of lease liabilities (1)
$17,836 $760 
Lease liabilities, current$1,396 $181 
Lease liabilities, non-current16,440 579 
Present value of lease liabilities (1)
$17,836 $760 
____________________________________
(1)    Lease liabilities include those operating leases that we plan to sublease or abandon as a part of our facilities consolidation restructuring efforts. For additional information, see Note 3 — Restructuring.
Lease, Cash Flow Information
Supplemental cash flow information related to leases is as follows (in millions):
Six Months Ended June 30,
20232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$994 $779 
Operating cash flows for finance leases$10 $8 
Financing cash flows for finance leases$484 $452 
Lease liabilities arising from obtaining right-of-use assets:
Operating leases$1,868 $3,073 
Finance leases$338 $103 
v3.23.2
Acquisitions, Goodwill, and Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount of Goodwill
Changes in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2023 are as follows (in millions): 
Family of AppsReality LabsTotal
Goodwill at December 31, 2022$19,250 $1,056 $20,306 
Acquisitions— 357 357 
Adjustments(4)— (4)
Goodwill at June 30, 2023$19,246 $1,413 $20,659 
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):
June 30, 2023December 31, 2022
Weighted-Average Remaining Useful Lives
(in years)		Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Acquired technology5.0$464 $(131)$333 $507 $(144)$363 
Acquired patents2.7347 (276)71 380 (289)91 
Other1.844 (17)27 86 (25)61 
Total finite-lived assets855 (424)431 973 (458)515 
Total indefinite-lived assetsN/A425 — 425 382 — 382 
Total intangible assets$1,280 $(424)$856 $1,355 $(458)$897 
Expected Amortization Expense for Unamortized Acquired Intangible Assets
As of June 30, 2023, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in millions):
The remainder of 2023$82 
2024131 
202591 
202643 
202724 
Thereafter60 
Total$431 
v3.23.2
Long-term Debt (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments The following table summarizes the Notes and the carrying amount of our debt (in millions, except percentages):
MaturityStated Interest RateEffective Interest RateJune 30, 2023December 31, 2022
August 2022 debt:
2027 Notes20273.50%3.63%$2,750 $2,750 
2032 Notes20323.85%3.92%3,000 3,000 
2052 Notes20524.45%4.51%2,750 2,750 
2062 Notes20624.65%4.71%1,500 1,500 
May 2023 debt:
2028 Notes20284.60%4.68%1,500 
2030 Notes20304.80%4.90%1,000 
2033 Notes20334.95%5.00%1,750 
2053 Notes20535.60%5.64%2,500 
2063 Notes20635.75%5.79%1,750 
Total face amount of long-term debt18,500 10,000 
Unamortized discount and issuance costs, net(118)(77)
Long-term debt$18,382 $9,923 
Schedule of Maturities of Long-Term Debt
As of June 30, 2023, future principal payments for the Notes, by year, are as follows (in millions):
Remainder of 2023 through 2026$— 
20272,750 
Thereafter15,750 
Total outstanding debt$18,500 
v3.23.2
Liabilities (Tables)
 6 Months Ended
Jun. 30, 2023
Accounts Payable and Accrued Liabilities [Abstract]  
Schedule of Accrued Expenses and Other Current Liabilities
The components of accrued expenses and other current liabilities are as follows (in millions):
June 30, 2023December 31, 2022
Legal-related accruals (1)
$7,456 $4,795 
Accrued compensation and benefits4,338 4,591 
Accrued property and equipment2,306 2,921 
Accrued taxes5,837 2,339 
Other current liabilities4,723 4,906 
Accrued expenses and other current liabilities$24,660 $19,552 
____________________________________
(1)Includes accruals for estimated fines, settlements, or other losses in connection with legal and related matters, as well as other legal fees. For further information, see Legal and Related Matters in Note 12 — Commitments and Contingencies.
Other Noncurrent Liabilities
The components of other liabilities are as follows (in millions):
June 30, 2023December 31, 2022
Income tax payable$6,570 $6,645 
Other non-current liabilities1,342 1,119 
Other liabilities$7,912 $7,764 
v3.23.2
Commitment and Contingencies (Tables)
 6 Months Ended
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Contractual Commitments The following is a schedule, by years, of non-cancelable contractual commitments as of June 30, 2023 (in millions):
The remainder of 2023$12,346 
20242,836 
20251,414 
2026301 
2027213 
Thereafter2,573 
Total$19,683 
v3.23.2
Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Share-Based Payment Arrangement, Expensed and Capitalized, Amount
The following table summarizes our share-based compensation expense, which consists of the RSU expense, by line item in our condensed consolidated statements of income (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Cost of revenue$193 $213 $352 $373 
Research and development3,305 2,606 5,754 4,547 
Marketing and sales289 289 509 506 
General and administrative273 243 496 424 
Total share-based compensation expense$4,060 $3,351 $7,111 $5,850 
Restricted Stock Units Award Activity
The following table summarizes the activities for our unvested RSUs for the six months ended June 30, 2023:
Number of SharesWeighted-Average Grant Date Fair Value Per Share
(in thousands)
Unvested at December 31, 2022127,110 $216.93 
Granted107,550 $197.24 
Vested(31,987)$210.65 
Forfeited(19,704)$210.36 
Unvested at June 30, 2023182,969 $207.16 
v3.23.2
Segment and Geographical Information (Tables)
 6 Months Ended
Jun. 30, 2023
Segments, Geographical Areas [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table sets forth our segment information of revenue and income (loss) from operations (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
Revenue:
Family of Apps$31,723 $28,370 $60,029 $55,583 
Reality Labs276 452 616 1,146 
Total revenue$31,999 $28,822 $60,645 $56,729 
Income (loss) from operations:
Family of Apps$13,131 $11,164 $24,351 $22,647 
Reality Labs(3,739)(2,806)(7,732)(5,766)
Total income from operations$9,392 $8,358 $16,619 $16,881 
Revenue and Property and Equipment by Geographic Area
The following table sets forth our long-lived assets by geographic area, which consist of property and equipment, net and operating lease right-of-use assets (in millions):
June 30, 2023December 31, 2022
United States$83,711 $76,334 
Rest of the world (1)
17,193 15,857 
Total long-lived assets$100,904 $92,191 
____________________________________
(1)    No individual country, other than disclosed above, exceeded 10% of our total long-lived assets for any period presented.
v3.23.2
Revenue - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Disaggregation of Revenue [Line Items]        
Revenue: $ 31,999 $ 28,822 $ 60,645 $ 56,729
United States and Canada        
Disaggregation of Revenue [Line Items]        
Revenue: 12,404 12,186 23,854 23,965
Europe        
Disaggregation of Revenue [Line Items]        
Revenue: 7,515 6,650 14,274 13,288
Asia-Pacific        
Disaggregation of Revenue [Line Items]        
Revenue: 8,551 6,960 15,843 13,682
Rest of World        
Disaggregation of Revenue [Line Items]        
Revenue: 3,529 3,026 6,674 5,794
United States        
Disaggregation of Revenue [Line Items]        
Revenue: 11,660 11,430 22,450 22,520
Family of Apps        
Disaggregation of Revenue [Line Items]        
Revenue: 31,723 28,370 60,029 55,583
Reality Labs        
Disaggregation of Revenue [Line Items]        
Revenue: 276 452 616 1,146
Advertising | Family of Apps        
Disaggregation of Revenue [Line Items]        
Revenue: 31,498 28,152 59,599 55,150
Other revenue | Family of Apps        
Disaggregation of Revenue [Line Items]        
Revenue: $ 225 $ 218 $ 430 $ 433
v3.23.2
Revenue - Narrative (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]    
Total deferred revenue balance $ 520 $ 526
Deferred revenue, current $ 494  
v3.23.2
Restructuring - Narrative (Details)
$ in Millions
 1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Mar. 31, 2023
notice
Jun. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
employee
2022 Restructuring        
Restructuring Cost and Reserve [Line Items]        
Expected number of positions eliminated | employee       11,000
Restructuring charges   $ 184 $ 804  
Restructuring charges recorded to date   5,410 5,410  
2022 Restructuring | Severance and Other Personnel Costs        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges   (12) (30) $ 975
Restructuring charges recorded to date   945 945  
2022 Restructuring | Leases and Leasehold Improvements        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges   247 1,054  
Restructuring charges recorded to date   3,350 3,350  
2022 Restructuring | Data Center Assets        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges   (51) (220)  
Restructuring charges recorded to date   1,120 1,120  
2023 Restructuring        
Restructuring Cost and Reserve [Line Items]        
Expected number of positions eliminated | notice 10,000      
2023 Restructuring | Severance and Other Personnel Costs        
Restructuring Cost and Reserve [Line Items]        
Expected restructuring costs   1,200 1,200  
Restructuring charges   596 1,119  
Family of Apps | 2022 Restructuring        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges recorded to date   4,700 4,700  
Family of Apps | 2023 Restructuring | Severance and Other Personnel Costs        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges   569 1,040  
Reality Labs | 2022 Restructuring        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges recorded to date   718 718  
Reality Labs | 2023 Restructuring | Severance and Other Personnel Costs        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges   $ 27 $ 82  
v3.23.2
Restructuring - Restructuring and Related Costs (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]          
Share-based payment arrangement, expense $ 4,060 $ 3,351 $ 7,111 $ 5,850  
2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 184   804    
Facilities Consolidation | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 247   1,054    
Severance and Other Personnel Costs | 2023 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 596   1,119    
Share-based payment arrangement, expense 40   102    
Severance and Other Personnel Costs | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges (12)   (30)   $ 975
Data Center Assets | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges (51)   (220)    
Cost of revenue          
Restructuring Cost and Reserve [Line Items]          
Share-based payment arrangement, expense 193 213 352 373  
Cost of revenue | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges (42)   (153)    
Cost of revenue | Facilities Consolidation | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 9   67    
Cost of revenue | Severance and Other Personnel Costs | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0   0    
Cost of revenue | Data Center Assets | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges (51)   (220)    
Research and development          
Restructuring Cost and Reserve [Line Items]          
Share-based payment arrangement, expense 3,305 2,606 5,754 4,547  
Research and development | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 152   632    
Research and development | Facilities Consolidation | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 159   643    
Research and development | Severance and Other Personnel Costs | 2023 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 142   466    
Research and development | Severance and Other Personnel Costs | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges (7)   (11)    
Research and development | Data Center Assets | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0   0    
Marketing and sales          
Restructuring Cost and Reserve [Line Items]          
Share-based payment arrangement, expense 289 289 509 506  
Marketing and sales | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 44   178    
Marketing and sales | Facilities Consolidation | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 43   179    
Marketing and sales | Severance and Other Personnel Costs | 2023 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 217   222    
Marketing and sales | Severance and Other Personnel Costs | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 1   (1)    
Marketing and sales | Data Center Assets | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0   0    
General and administrative          
Restructuring Cost and Reserve [Line Items]          
Share-based payment arrangement, expense 273 $ 243 496 $ 424  
General and administrative | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 30   147    
General and administrative | Facilities Consolidation | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 36   165    
General and administrative | Severance and Other Personnel Costs | 2023 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 237   431    
General and administrative | Severance and Other Personnel Costs | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges (6)   (18)    
General and administrative | Data Center Assets | 2022 Restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges $ 0   $ 0    
v3.23.2
Restructuring - Changes in the Liabilities Related to Workforce Reduction (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2023
Dec. 31, 2022
2022 Restructuring      
Restructuring Reserve [Roll Forward]      
Severance and other personnel costs $ 184 $ 804  
Severance and Other Personnel Costs | 2023 Restructuring      
Restructuring Reserve [Roll Forward]      
Beginning balance   0  
Severance and other personnel costs 596 1,119  
Severance and other personnel costs, net   1,017  
Cash payments   (339)  
Ending balance 678 678 $ 0
Severance and Other Personnel Costs | 2022 Restructuring      
Restructuring Reserve [Roll Forward]      
Beginning balance   772 0
Severance and other personnel costs (12) (30) 975
Cash payments   (727) (203)
Adjustments and foreign exchange   (38)  
Ending balance $ 7 $ 7 $ 772
v3.23.2
Earnings per Share - Narrative (Details) - shares
shares in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Class A Common Stock | Restricted Stock Units (RSUs)        
Earnings Per Share, Basic, by Common Class, Including Two Class Method        
Shares excluded from EPS calc (in shares) 20 118 25 87
v3.23.2
Earnings per Share - Basic and Diluted EPS (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Numerator        
Net income $ 7,788 $ 6,687 $ 13,498 $ 14,152
Denominator        
Shares used in computation of basic earnings per share (in shares) 2,568 2,704 2,577 2,714
Basic EPS (in dollars per share) $ 3.03 $ 2.47 $ 5.24 $ 5.21
Numerator        
Net income $ 7,788 $ 6,687 $ 13,498 $ 14,152
Denominator        
Shares used in computation of basic earnings per share (in shares) 2,568 2,704 2,577 2,714
Number of shares used for diluted EPS computation (in shares) 2,612 2,713 2,604 2,729
Diluted EPS (in dollars per share) $ 2.98 $ 2.46 $ 5.18 $ 5.19
Class A Common Stock        
Numerator        
Net income $ 6,725 $ 5,673 $ 11,627 $ 12,009
Denominator        
Shares used in computation of basic earnings per share (in shares) 2,217 2,294 2,220 2,303
Basic EPS (in dollars per share) $ 3.03 $ 2.47 $ 5.24 $ 5.21
Numerator        
Net income $ 6,725 $ 5,673 $ 11,627 $ 12,009
Reallocation of net income as a result of conversion of Class B to Class A common stock 1,063 1,014 1,871 2,143
Reallocation of net income to Class B common stock 0 0 0 0
Net income for diluted EPS $ 7,788 $ 6,687 $ 13,498 $ 14,152
Denominator        
Shares used in computation of basic earnings per share (in shares) 2,217 2,294 2,220 2,303
Conversion of Class B to Class A common stock (in shares) 351 410 357 411
Weighted average effect of dilutive RSUs (in shares) 44 9 27 15
Number of shares used for diluted EPS computation (in shares) 2,612 2,713 2,604 2,729
Diluted EPS (in dollars per share) $ 2.98 $ 2.46 $ 5.18 $ 5.19
Class B Common Stock        
Numerator        
Net income $ 1,063 $ 1,014 $ 1,871 $ 2,143
Denominator        
Shares used in computation of basic earnings per share (in shares) 351 410 357 411
Basic EPS (in dollars per share) $ 3.03 $ 2.47 $ 5.24 $ 5.21
Numerator        
Net income $ 1,063 $ 1,014 $ 1,871 $ 2,143
Reallocation of net income as a result of conversion of Class B to Class A common stock 0 0 0 0
Reallocation of net income to Class B common stock (18) (4) (20) (11)
Net income for diluted EPS $ 1,045 $ 1,010 $ 1,851 $ 2,132
Denominator        
Shares used in computation of basic earnings per share (in shares) 351 410 357 411
Conversion of Class B to Class A common stock (in shares) 0 0 0 0
Weighted average effect of dilutive RSUs (in shares) 0 0 0 0
Number of shares used for diluted EPS computation (in shares) 351 410 357 411
Diluted EPS (in dollars per share) $ 2.98 $ 2.46 $ 5.18 $ 5.19
v3.23.2
Financial Instruments - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents $ 28,785 $ 14,681
Marketable securities: 24,661  
Marketable equity securities   25
Total marketable securities 24,661 26,057
Restricted cash equivalents 837 583
Other assets 94 157
Total 54,377 41,478
U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 8,497 8,708
U.S. government and agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 4,504 4,989
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 11,660 12,335
Cash    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 6,122 6,176
Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 21,055 8,305
U.S. government and agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 946 16
Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 514 156
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 148 28
Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 22,001 8,321
Marketable equity securities   25
Total marketable securities 13,001 13,722
Restricted cash equivalents 837 583
Other assets 0 0
Total 35,839 22,626
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 8,497 8,708
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government and agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 4,504 4,989
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 21,055 8,305
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government and agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 946 16
Quoted Prices in Active Markets for Identical Assets (Level 1) | Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 0 0
Significant Other Observable Inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 662 184
Marketable equity securities   0
Total marketable securities 11,660 12,335
Restricted cash equivalents 0 0
Other assets 0 0
Total 12,322 12,519
Significant Other Observable Inputs (Level 2) | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 0 0
Significant Other Observable Inputs (Level 2) | U.S. government and agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 0 0
Significant Other Observable Inputs (Level 2) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 11,660 12,335
Significant Other Observable Inputs (Level 2) | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 0 0
Significant Other Observable Inputs (Level 2) | U.S. government and agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 0 0
Significant Other Observable Inputs (Level 2) | Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 514 156
Significant Other Observable Inputs (Level 2) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 148 28
Significant Unobservable Inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 0 0
Marketable equity securities   0
Total marketable securities 0 0
Restricted cash equivalents 0 0
Other assets 94 157
Total 94 157
Significant Unobservable Inputs (Level 3) | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 0 0
Significant Unobservable Inputs (Level 3) | U.S. government and agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 0 0
Significant Unobservable Inputs (Level 3) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 0 0
Significant Unobservable Inputs (Level 3) | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 0 0
Significant Unobservable Inputs (Level 3) | U.S. government and agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 0 0
Significant Unobservable Inputs (Level 3) | Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents 0 0
Significant Unobservable Inputs (Level 3) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash and cash equivalents $ 0 $ 0
v3.23.2
Financial Instruments - Narrative (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Jun. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Non-marketable equity securities $ 6,208 $ 6,201  
Significant Unobservable Inputs (Level 3)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Non-marketable equity securities $ 119   $ 184
v3.23.2
Financial Instruments - Available-for-sale Marketable Securities (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Marketable Securities [Line Items]    
Less than 12 months, fair value $ 3,583 $ 10,087
Less than 12 months, unrealized losses (117) (500)
12 months or greater, fair value 20,056 15,170
12 months or greater, unrealized losses (1,355) (1,189)
Fair value 23,639 25,257
Unrealized losses (1,472) (1,689)
U.S. government securities    
Marketable Securities [Line Items]    
Less than 12 months, fair value 2,183 5,008
Less than 12 months, unrealized losses (88) (234)
12 months or greater, fair value 5,949 3,499
12 months or greater, unrealized losses (349) (247)
Fair value 8,132 8,507
Unrealized losses (437) (481)
U.S. government and agency securities    
Marketable Securities [Line Items]    
Less than 12 months, fair value 141 524
Less than 12 months, unrealized losses (4) (17)
12 months or greater, fair value 4,206 4,415
12 months or greater, unrealized losses (263) (308)
Fair value 4,347 4,939
Unrealized losses (267) (325)
Corporate debt securities    
Marketable Securities [Line Items]    
Less than 12 months, fair value 1,259 4,555
Less than 12 months, unrealized losses (25) (249)
12 months or greater, fair value 9,901 7,256
12 months or greater, unrealized losses (743) (634)
Fair value 11,160 11,811
Unrealized losses $ (768) $ (883)
v3.23.2
Financial Instruments - Contractual Maturities of Marketable Debt Securities (Details)
$ in Millions
Jun. 30, 2023
USD ($)
Contractual Maturities of Marketable Securities  
Due within one year $ 5,703
Due after one year to five years 18,958
Total $ 24,661
v3.23.2
Non-marketable Equity Securities (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]    
Initial cost $ 6,389 $ 6,388
Cumulative upward adjustments 293 293
Cumulative impairment/downward adjustments (533) (497)
Carrying value 6,149 6,184
Non-marketable equity securities under equity method 59 17
Total $ 6,208 $ 6,201
v3.23.2
Property and Equipment - Summary (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Property, Plant and Equipment    
Finance lease right-of-use assets $ 3,804 $ 3,353
Property and equipment, gross 116,902 104,493
Less: Accumulated depreciation (28,953) (24,975)
Property and equipment, net 87,949 79,518
Land    
Property, Plant and Equipment    
Property and equipment, gross 1,875 1,874
Servers and network assets    
Property, Plant and Equipment    
Property and equipment, gross 40,824 34,330
Buildings    
Property, Plant and Equipment    
Property and equipment, gross 32,446 27,720
Leasehold improvements    
Property, Plant and Equipment    
Property and equipment, gross 6,661 6,522
Equipment and other    
Property, Plant and Equipment    
Property and equipment, gross 6,449 5,642
Construction in progress    
Property, Plant and Equipment    
Property and equipment, gross $ 24,843 $ 25,052
v3.23.2
Property and Equipment - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Property, Plant and Equipment        
Depreciation $ 2,580 $ 1,930 $ 5,060 $ 4,040
2022 Restructuring        
Property, Plant and Equipment        
Restructuring charges 184   804  
Leasehold improvements | 2022 Restructuring        
Property, Plant and Equipment        
Restructuring charges 94   191  
Servers and network assets        
Property, Plant and Equipment        
Construction in progress 1,480   1,480  
Depreciation 1,710 $ 1,200 3,220 $ 2,560
Construction in progress        
Property, Plant and Equipment        
Interest costs capitalized $ 63   $ 116  
v3.23.2
Leases - Components of Lease Cost (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Finance lease cost:        
Amortization of right-of-use assets $ 80 $ 95 $ 184 $ 193
Interest 5 4 10 8
Operating lease cost 516 435 1,073 846
Variable lease cost and other, net 112 86 236 176
Total lease cost $ 713 $ 620 $ 1,503 $ 1,223
v3.23.2
Leases - Lease, Balance Sheet Information (Details)
Jun. 30, 2023
Dec. 31, 2022
Weighted-average remaining lease term:    
Finance leases (in years) 14 years 1 month 6 days 14 years 4 months 24 days
Operating leases (in years) 12 years 3 months 18 days 12 years 6 months
Weighted-average discount rate:    
Finance leases 3.20% 3.10%
Operating leases 3.40% 3.20%
v3.23.2
Leases - Maturities of Lease Liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Lessee, Operating Lease, Liability, to be Paid [Abstract]    
The remainder of 2023 $ 848  
2024 2,232  
2025 2,002  
2026 1,948  
2027 1,933  
Thereafter 13,362  
Total undiscounted cash flows 22,325  
Less: Imputed interest (4,489)  
Present value of lease liabilities 17,836  
Operating lease liabilities, current 1,396 $ 1,367
Operating lease liabilities, non-current 16,440 $ 15,301
Finance Lease, Liability, to be Paid [Abstract]    
The remainder of 2023 168  
2024 60  
2025 61  
2026 59  
2027 57  
Thereafter 504  
Total undiscounted cash flows 909  
Less: Imputed interest (149)  
Present value of lease liabilities 760  
Lease liabilities, current 181  
Lease liabilities, non-current $ 579  
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other current liabilities  
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other liabilities  
v3.23.2
Leases - Narrative (Details)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Lessee, Lease, Description [Line Items]    
Operating lease not yet commenced $ 9,620 $ 9,620
Finance lease not yet commenced 1,250 1,250
2022 Restructuring    
Lessee, Lease, Description [Line Items]    
Restructuring charges 184 804
Operating Lease, ROU Asset | 2022 Restructuring    
Lessee, Lease, Description [Line Items]    
Restructuring charges $ 138 $ 811
Minimum    
Lessee, Lease, Description [Line Items]    
Lease not yet commenced, term   1 year
Maximum    
Lessee, Lease, Description [Line Items]    
Lease not yet commenced, term   30 years
v3.23.2
Leases - Supplemental Cash Flow (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows for operating leases $ 994 $ 779
Operating cash flows for finance leases 10 8
Financing cash flows for finance leases 484 452
Lease liabilities arising from obtaining right-of-use assets:    
Operating leases 1,868 3,073
Finance leases $ 338 $ 103
v3.23.2
Acquisitions, Goodwill, and Intangible Assets - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Business Acquisition [Line Items]          
Goodwill $ 20,659   $ 20,659   $ 20,306
Amortization expense 45 $ 53 92 $ 93  
2023 Business Acquisition          
Business Acquisition [Line Items]          
Consideration transferred     467    
Intangible assets acquired 99   99    
Goodwill $ 357   $ 357    
v3.23.2
Acquisitions, Goodwill, and Intangible Assets - Change in Carrying Amount of Goodwill (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2023
USD ($)
Goodwill  
Goodwill, beginning balance $ 20,306
Acquisitions 357
Adjustments (4)
Goodwill, ending balance 20,659
Family of Apps  
Goodwill  
Goodwill, beginning balance 19,250
Acquisitions 0
Adjustments (4)
Goodwill, ending balance 19,246
Reality Labs  
Goodwill  
Goodwill, beginning balance 1,056
Acquisitions 357
Adjustments 0
Goodwill, ending balance $ 1,413
v3.23.2
Acquisitions, Goodwill, and Intangible Assets - Intangible Assets (Detail) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Dec. 31, 2022
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 855 $ 973
Accumulated Amortization (424) (458)
Net Carrying Amount 431 515
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]    
Total indefinite-lived assets 425 382
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Gross Carrying Amount 1,280 1,355
Accumulated Amortization (424) (458)
Net Carrying Amount $ 856 897
Acquired technology    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining Useful Lives (in years) 5 years  
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 464 507
Accumulated Amortization (131) (144)
Net Carrying Amount 333 363
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Accumulated Amortization $ (131) (144)
Acquired patents    
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 $ 347 380
Accumulated Amortization (276) (289)
Net Carrying Amount 71 91
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Accumulated Amortization $ (276) (289)
Other    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining Useful Lives (in years) 1 year 9 months 18 days  
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 44 86
Accumulated Amortization (17) (25)
Net Carrying Amount 27 61
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Accumulated Amortization $ (17) $ (25)
v3.23.2
Acquisitions, Goodwill, and Intangible Assets - Estimated Amortization Expense (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]    
The remainder of 2023 $ 82  
2024 131  
2025 91  
2026 43  
2027 24  
Thereafter 60  
Net Carrying Amount $ 431 $ 515
v3.23.2
Long-term Debt - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2023
May 03, 2023
Aug. 09, 2022
Debt Instrument        
Interest expense, debt $ 110 $ 159    
Senior Notes        
Debt Instrument        
Debt instrument, face amount 18,500 18,500    
Senior Notes | August 2022 debt:        
Debt Instrument        
Debt instrument, face amount       $ 10,000
Senior Notes | May 2023 debt:        
Debt Instrument        
Debt instrument, face amount     $ 8,500  
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2) | Senior Notes        
Debt Instrument        
Long-term debt, fair value $ 17,710 $ 17,710    
v3.23.2
Long-term Debt - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Debt Instrument    
Total face amount of long-term debt $ 18,500 $ 10,000
Unamortized discount and issuance costs, net (118) (77)
Long-term debt $ 18,382 9,923
2027 Notes | August 2022 debt:    
Debt Instrument    
Stated Interest Rate 3.50%  
Effective Interest Rate 3.63%  
Total face amount of long-term debt $ 2,750 2,750
2032 Notes | August 2022 debt:    
Debt Instrument    
Stated Interest Rate 3.85%  
Effective Interest Rate 3.92%  
Total face amount of long-term debt $ 3,000 3,000
2052 Notes | August 2022 debt:    
Debt Instrument    
Stated Interest Rate 4.45%  
Effective Interest Rate 4.51%  
Total face amount of long-term debt $ 2,750 2,750
2062 Notes | August 2022 debt:    
Debt Instrument    
Stated Interest Rate 4.65%  
Effective Interest Rate 4.71%  
Total face amount of long-term debt $ 1,500 $ 1,500
2028 Notes | May 2023 debt:    
Debt Instrument    
Stated Interest Rate 4.60%  
Effective Interest Rate 4.68%  
Total face amount of long-term debt $ 1,500  
2030 Notes | May 2023 debt:    
Debt Instrument    
Stated Interest Rate 4.80%  
Effective Interest Rate 4.90%  
Total face amount of long-term debt $ 1,000  
2033 Notes | May 2023 debt:    
Debt Instrument    
Stated Interest Rate 4.95%  
Effective Interest Rate 5.00%  
Total face amount of long-term debt $ 1,750  
2053 Notes | May 2023 debt:    
Debt Instrument    
Stated Interest Rate 5.60%  
Effective Interest Rate 5.64%  
Total face amount of long-term debt $ 2,500  
2063 Notes | May 2023 debt:    
Debt Instrument    
Stated Interest Rate 5.75%  
Effective Interest Rate 5.79%  
Total face amount of long-term debt $ 1,750  
v3.23.2
Long-term Debt - Schedule of Maturities of Long-Term Debt (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Maturities of Long-Term Debt [Abstract]    
Remainder of 2023 through 2026 $ 0  
2027 2,750  
Thereafter 15,750  
Total outstanding debt $ 18,500 $ 10,000
v3.23.2
Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Payables and Accruals [Abstract]    
Legal-related accruals $ 7,456 $ 4,795
Accrued compensation and benefits 4,338 4,591
Accrued property and equipment 2,306 2,921
Accrued taxes 5,837 2,339
Other current liabilities 4,723 4,906
Accrued expenses and other current liabilities $ 24,660 $ 19,552
v3.23.2
Liabilities - Schedule of Other Liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Other Liabilities [Abstract]    
Income tax payable $ 6,570 $ 6,645
Other non-current liabilities 1,342 1,119
Other liabilities $ 7,912 $ 7,764
v3.23.2
Commitments and Contingencies - Narrative (Details)
$ in Millions, € in Billions
 1 Months Ended 6 Months Ended
Dec. 22, 2022
USD ($)
Jul. 27, 2018
classAction
Apr. 30, 2020
USD ($)
Jun. 30, 2023
USD ($)
May 12, 2023
EUR (€)
Jan. 31, 2022
notice
Dec. 09, 2020
State
Loss Contingencies [Line Items]              
Non-cancelable contractual obligations       $ 19,683      
Total estimated spend, purchase commitment       $ 12,270      
Commitment period       5 years      
Amount awarded to other party $ 725            
Number of states U.S attorney generals filed complaints from | State             46
Number of class actions filed | classAction   2          
Number of states that have filed public nuisance claims | notice           1  
FTC Inquiry              
Loss Contingencies [Line Items]              
Payment of penalty for settlement     $ 5,000        
IDPC Inquiry              
Loss Contingencies [Line Items]              
Loss contingency accrual | €         € 1.2    
v3.23.2
Commitments and Contingencies - Contractual Commitments (Details)
$ in Millions
Jun. 30, 2023
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
The remainder of 2023 $ 12,346
2024 2,836
2025 1,414
2026 301
2027 213
Thereafter 2,573
Total $ 19,683
v3.23.2
Stockholders' Equity - Share Repurchase Program (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Jan. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award            
Remaining authorized repurchase amount $ 40,910   $ 40,910      
Shares repurchased and retired $ 793 $ 5,082 10,012 $ 14,469    
Excise tax related to share repurchase     $ 59      
January 2017 Share Repurchase Program            
Share-based Compensation Arrangement by Share-based Payment Award            
Remaining authorized repurchase amount           $ 10,870
January 2023 Share Repurchase Program            
Share-based Compensation Arrangement by Share-based Payment Award            
Share repurchase program, authorized amount         $ 40,000  
Class A Common Stock            
Share-based Compensation Arrangement by Share-based Payment Award            
Shares repurchased and retired (in shares)     60      
Shares repurchased and retired     $ 10,010      
v3.23.2
Stockholders' Equity - Share-based Compensation Plans (Detail) - shares
shares in Millions
Mar. 01, 2023
Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award    
Shares reserved for issuance (in shares) 425  
Equity Incentive Plan 2012    
Share-based Compensation Arrangement by Share-based Payment Award    
Equity incentive plan shares authorized (in shares)   475
v3.23.2
Stockholders' Equity - Summary of Share-Based Compensation Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award        
Total share-based compensation expense $ 4,060 $ 3,351 $ 7,111 $ 5,850
Cost of revenue        
Share-based Compensation Arrangement by Share-based Payment Award        
Total share-based compensation expense 193 213 352 373
Research and development        
Share-based Compensation Arrangement by Share-based Payment Award        
Total share-based compensation expense 3,305 2,606 5,754 4,547
Marketing and sales        
Share-based Compensation Arrangement by Share-based Payment Award        
Total share-based compensation expense 289 289 509 506
General and administrative        
Share-based Compensation Arrangement by Share-based Payment Award        
Total share-based compensation expense $ 273 $ 243 $ 496 $ 424
v3.23.2
Stockholders' Equity - Restricted Stock Units (Details) - Restricted Stock Units (RSUs)
shares in Thousands
 6 Months Ended
Jun. 30, 2023
$ / shares
shares
Number of Shares  
Unvested at beginning of period (in shares) | shares 127,110
Granted (in shares) | shares 107,550
Vested (in shares) | shares (31,987)
Forfeited (in shares) | shares (19,704)
Unvested at end of period (in shares) | shares 182,969
Weighted-Average Grant Date Fair Value Per Share  
Unvested at beginning of period (in dollars per share) | $ / shares $ 216.93
Granted (in dollars per share) | $ / shares 197.24
Vested (in dollars per share) | $ / shares 210.65
Forfeited (in dollars per share) | $ / shares 210.36
Unvested at end of period (in dollars per share) | $ / shares $ 207.16
v3.23.2
Stockholders' Equity - Additional Award Disclosures (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award        
Unrecognized share-based compensation expense $ 35,960   $ 35,960  
Unrecognized share-based compensation expense recognition period (in years)     3 years  
Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award        
Fair value of vested RSUs 4,300 $ 2,750 $ 6,740 $ 5,180
Tax benefit $ 915 $ 582 $ 1,430 $ 1,100
v3.23.2
Income Taxes (Details)
$ in Millions
 1 Months Ended
Mar. 31, 2018
USD ($)
notice
Jul. 31, 2016
USD ($)
Jun. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Income Tax Contingency [Line Items]        
Unrecognized tax benefits     $ 10,990 $ 10,760
Unrecognized tax benefits that would result in tax benefit if realized     6,680  
Accrued interest and penalties     $ 1,270 $ 1,070
Internal Revenue Service (IRS) | Tax Year 2010        
Income Tax Contingency [Line Items]        
Income tax examination, estimate of possible loss   $ 9,000    
Internal Revenue Service (IRS) | Tax Years 2011 Through 2013        
Income Tax Contingency [Line Items]        
Income tax examination, estimate of possible loss $ 680      
Number of notices | notice 2      
v3.23.2
Segment and Geographical Information - Narrative (Details)
 6 Months Ended
Jun. 30, 2023
reportable_segment
Segments, Geographical Areas [Abstract]  
Number of reportable segments (in segments) 2
v3.23.2
Segment and Geographical Information - Segment Information of Revenue and Income (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Segment Reporting Information [Line Items]        
Revenue: $ 31,999 $ 28,822 $ 60,645 $ 56,729
Income (loss) from operations: 9,392 8,358 16,619 16,881
Family of Apps        
Segment Reporting Information [Line Items]        
Revenue: 31,723 28,370 60,029 55,583
Income (loss) from operations: 13,131 11,164 24,351 22,647
Reality Labs        
Segment Reporting Information [Line Items]        
Revenue: 276 452 616 1,146
Income (loss) from operations: $ (3,739) $ (2,806) $ (7,732) $ (5,766)
v3.23.2
Segment and Geographical Information - Property and Equipment, Net (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Long-Lived Assets By Geographical Area    
Total long-lived assets $ 100,904 $ 92,191
United States    
Long-Lived Assets By Geographical Area    
Total long-lived assets 83,711 76,334
Rest of the world    
Long-Lived Assets By Geographical Area    
Total long-lived assets $ 17,193 $ 15,857