CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
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| 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) | 2,192 | 2,211 |
| Common stock, shares outstanding (in shares) | 2,192 | 2,211 |
| Class B Common Stock | ||
| Stockholders' equity: | ||
| Common stock, shares authorized (in shares) | 4,141 | 4,141 |
| Common stock, shares issued (in shares) | 345 | 350 |
| Common stock, shares outstanding (in shares) | 345 | 350 |
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions |
3 Months Ended | |
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Mar. 31, 2024 |
Mar. 31, 2023 |
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| Income Statement [Abstract] | ||
| Revenue: | $ 36,455 | $ 28,645 |
| Costs and expenses: | ||
| Cost of revenue | 6,640 | 6,108 |
| Research and development | 9,978 | 9,381 |
| Marketing and sales | 2,564 | 3,044 |
| General and administrative | 3,455 | 2,885 |
| Total costs and expenses | 22,637 | 21,418 |
| Income from operations | 13,818 | 7,227 |
| Interest and other income, net | 365 | 80 |
| Income before provision for income taxes | 14,183 | 7,307 |
| Provision for income taxes | 1,814 | 1,598 |
| Net income | $ 12,369 | $ 5,709 |
| Earnings per share: | ||
| Basic (in dollars per share) | $ 4.86 | $ 2.21 |
| Diluted (in dollars per share) | $ 4.71 | $ 2.20 |
| Weighted-average shares used to compute earnings per share: | ||
| Basic (in shares) | 2,545 | 2,587 |
| Diluted (in shares) | 2,625 | 2,596 |
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
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| Statement of Comprehensive Income [Abstract] | ||
| Net income | $ 12,369 | $ 5,709 |
| Other comprehensive income (loss): | ||
| Change in foreign currency translation adjustment, net of tax | (545) | 248 |
| Change in unrealized gain (loss) on available-for-sale investments and other, net of tax | 45 | 301 |
| Comprehensive income | $ 11,869 | $ 6,258 |
Summary of Significant Accounting Policies |
3 Months Ended |
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Mar. 31, 2024 | |
| 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, 2023. The condensed consolidated balance sheet as of December 31, 2023 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, 2024. Balance Sheets Reclassifications Certain prior period amounts on the condensed consolidated balance sheets have been reclassified to conform to current period presentation. •Intangible assets, net was reclassified into other assets •Partners payable was reclassified into accrued expenses and other current liabilities •Long-term income taxes was reclassified out of other liabilities These reclassifications had no impact on our previously reported total assets, total liabilities, revenue, income from operations, net income or cash flows. Use of Estimates Preparation of 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 loss contingencies, income taxes, valuation of long-lived assets and their associated estimated useful lives, valuation of non-marketable equity securities, revenue recognition, valuation of goodwill, credit losses of available-for-sale debt securities and accounts receivable, and fair value of financial instruments and leases. These estimates are based on management's knowledge about current events, interpretation of regulations, and expectations about actions we may undertake in the future. Actual results could differ materially from those estimates. 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, 2023.
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Revenue |
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| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue | Revenue Revenue disaggregated by revenue source and by segment consists of the following (in millions):
Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions):
(1) Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East. Our total deferred revenue was $645 million and $675 million as of March 31, 2024 and December 31, 2023, respectively. As of March 31, 2024, we expect $599 million of our deferred revenue to be realized in less than a year.
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Restructuring |
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| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring | Restructuring 2022 Restructuring In 2022, we initiated several measures to pursue greater efficiency and to realign our business and strategic priorities. These measures included a facilities consolidation strategy to sublease, early terminate, or abandon several office buildings under operating leases, a layoff of approximately 11,000 employees across the Family of Apps (FoA) and Reality Labs (RL) segments, and a pivot towards a next generation data center design, including cancellation of multiple data center projects (the 2022 Restructuring). We completed the data center initiatives and employee layoff in 2023. As of March 31, 2024, we have substantially completed the facilities consolidation initiatives. A summary of our 2022 Restructuring pre-tax charges, including subsequent adjustments, is as follows (in millions):
(1)Relates to a change in estimate in our data center restructuring charges recorded during 2022.
The 2022 Restructuring charges recorded to date under our FoA segment were $6.03 billion, and RL segment were $1.08 billion.
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Earnings per Share |
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings per Share | Earnings per Share The holders of our Class A and Class B common stock (together, "common stock") have identical liquidation and dividend rights but different voting rights. Accordingly, we present the earnings per share (EPS) for Class A and Class B common stock together. Basic EPS is computed by dividing net income by the weighted-average number of shares of our Class A and Class B common stock outstanding. Diluted EPS is computed by dividing the net income by the weighted-average number of fully diluted common stock outstanding and assumes the conversion of our Class B common stock to Class A common stock. For the three months ended March 31, 2024 and 2023, 5 million and 86 million shares of Class A common stock equivalents of restricted stock units (RSUs) were excluded from the diluted EPS calculation, respectively, as including them would have an anti-dilutive effect. The numerators and denominators of the basic and diluted EPS computations for our common stock are calculated as follows (in millions, except per share amounts):
____________________________________ (1) Include 2,197 million and 2,223 million shares of Class A common stock and 348 million and 364 million shares of Class B common stock, for the three months ended March 31, 2024 and 2023, respectively. (2) The prior period EPS for Class A and Class B has been presented together to conform with current period presentation, which had no impact on our previously reported basic or diluted EPS. For the three months ended March 31, 2024, distributed earnings through dividends was $0.50 per share for each share of common stock, totaling to $1.10 billion and $174 million for Class A and Class B common stock, respectively. EPS for Class B common stock is not presented separately as under the two-class method Class A and Class B EPS is not meaningfully different.
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Financial Instruments |
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| Financial Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Instruments | Financial Instruments Fair Value Measurements We classify our cash equivalents and marketable debt securities within Level 1 or Level 2 because we use quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair value. Certain other assets are classified within Level 3 because factors used to develop the estimated fair value are unobservable inputs that are not supported by market activity. The following tables summarize our assets measured at fair value on a recurring basis and the classification by level of input within the fair value hierarchy (in millions):
Unrealized Losses The following tables summarize our available-for-sale marketable debt securities and cash equivalents with unrealized losses as of March 31, 2024 and December 31, 2023, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions):
The allowance for credit losses and the gross unrealized gains on our marketable debt securities were not material as of March 31, 2024 and December 31, 2023. Contractual Maturities The following table classifies our marketable debt securities by contractual maturities (in millions):
Instruments Measured at Fair Value on Non-recurring Basis Our non-marketable equity securities accounted for using the measurement alternative are measured at fair value on a non-recurring basis and are classified within Level 3 of the fair value hierarchy because we use significant unobservable inputs to estimate their fair value. Assets remeasured at fair value on a non-recurring basis within Level 3 during the three months ended March 31, 2024 and 2023 were $154 million and $119 million, respectively.
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Non-marketable Equity Securities |
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| 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):
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Property and Equipment |
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| Property and Equipment | Property and Equipment Property and equipment, net consists of the following (in millions):
Construction in progress includes costs mostly related to construction of data centers, network infrastructure and servers. Depreciation expense on property and equipment was $3.33 billion and $2.48 billion for the three months ended March 31, 2024 and 2023, respectively. Within property and equipment, our servers and network assets depreciation expenses were $2.35 billion and $1.51 billion for the three months ended March 31, 2024 and 2023, respectively.
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Leases |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | Leases The components of operating lease costs and supplemental lease information are as follows (in millions):
We also recorded impairment losses for operating lease right-of-use assets as a part of our facilities consolidation restructuring efforts of $242 million and $673 million for the three months ended March 31, 2024 and 2023, respectively. For additional information, see Note 3 — Restructuring. As of March 31, 2024, future undiscounted lease payments under operating leases was $24.19 billion, with a weighted average remaining lease term of 11.5 years. As of March 31, 2024, we have additional operating leases, that have not yet commenced, with lease obligations of approximately $6.17 billion mostly for data centers and colocations. These operating leases will commence between the remainder of 2024 and 2029 with lease terms of greater than one year to 25 years. Finance lease costs were not material for the periods presented.
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| Leases | Leases The components of operating lease costs and supplemental lease information are as follows (in millions):
We also recorded impairment losses for operating lease right-of-use assets as a part of our facilities consolidation restructuring efforts of $242 million and $673 million for the three months ended March 31, 2024 and 2023, respectively. For additional information, see Note 3 — Restructuring. As of March 31, 2024, future undiscounted lease payments under operating leases was $24.19 billion, with a weighted average remaining lease term of 11.5 years. As of March 31, 2024, we have additional operating leases, that have not yet commenced, with lease obligations of approximately $6.17 billion mostly for data centers and colocations. These operating leases will commence between the remainder of 2024 and 2029 with lease terms of greater than one year to 25 years. Finance lease costs were not material for the periods presented.
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Goodwill and Intangible Assets |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets | Goodwill and Intangible Assets As of March 31, 2024 and December 31, 2023, the total carrying amount of goodwill was $20.65 billion, of which $19.25 billion was allocated to our FoA segment and $1.41 billion was allocated to our RL segment. The following table sets forth the major categories of the intangible assets and their weighted‑average remaining useful lives (in millions):
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Long-term Debt |
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Mar. 31, 2024 | |
| Debt Disclosure [Abstract] | |
| Long-term Debt | Long-term Debt The carrying amount of our long-term debt in the form of senior unsecured notes (the Notes) was $18.39 billion as of March 31, 2024 and December 31, 2023. The total estimated fair value of the Notes was $18.06 billion and $18.48 billion as of March 31, 2024 and December 31, 2023, respectively. The fair value was determined based on the quoted prices for the Notes as of March 31, 2024 and December 31, 2023, respectively, and is categorized accordingly as Level 2 in the fair value hierarchy.
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Accrued Expenses and Other Current Liabilities |
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| Accounts Payable and Accrued Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accrued Expenses and Other Current Liabilities | Accrued Expenses and Other Current Liabilities The components of accrued expenses and other current liabilities are as follows (in millions):
(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.
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Commitments and Contingencies |
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies | Commitments and Contingencies Contractual Commitments We have $15.34 billion of non-cancelable contractual commitments as of March 31, 2024, 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 March 31, 2024 (in millions):
Additionally, as part of the normal course of business, we have entered into multi-year agreements to purchase renewable energy that do not specify a fixed or minimum volume commitment. We enter into these agreements in order to secure the price. Using the expected volume consumption, the total estimated spend related to our renewable energy agreements as of March 31, 2024 is approximately $15.92 billion, a majority of which is due beyond five years. The ultimate spend under these agreements may vary and will be based on actual volume purchased. Legal and Related Matters With respect to the cases, actions, and inquiries described below, we evaluate the associated developments on a regular basis and accrue a liability when we believe a loss is probable and the amount can be reasonably estimated. In addition, we believe there is a reasonable possibility that we may incur a loss in some of these matters. Unless otherwise noted, with respect to the matters described below that do not include an estimate of the amount of loss or range of possible loss, such losses or range of possible losses either cannot be estimated or are not individually material, but we believe there is a reasonable possibility that they may be material in the aggregate. We are also party to various other legal proceedings, claims, and regulatory, tax or government inquiries and investigations that arise in the ordinary course of business. Additionally, we are required to comply with various legal and regulatory obligations around the world. The requirements for complying with these obligations may be uncertain and subject to interpretation and enforcement by regulatory and other authorities, and any failure to comply with such obligations could eventually lead to asserted legal or regulatory action. With respect to these other legal proceedings, claims, regulatory, tax, or government inquiries and investigations, and other matters, asserted and unasserted, we evaluate the associated developments on a regular basis and accrue a liability when we believe a loss is probable and the amount can be reasonably estimated. In addition, we believe there is a reasonable possibility that we may incur a loss in some of these other matters. We believe that the amount of losses or any estimable range of possible losses with respect to these other matters will not, either individually or in the aggregate, have a material adverse effect on our business and 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 (In re Facebook, Inc., Consumer Privacy User Profile Litigation). On September 9, 2019, the court granted, in part, and denied, in part, our motion to dismiss the consolidated putative consumer class action. On December 22, 2022, the parties entered into a settlement agreement to resolve the lawsuit, which provides for a payment of $725 million by us. The settlement was approved by the court on October 10, 2023, and the payment was made in November 2023. In addition, our platform and user data practices, as well as the events surrounding the misuse of certain data by a developer, became the subject of U.S. Federal Trade Commission (FTC), state attorneys general, and other government inquiries in the United States, Europe, and other jurisdictions. We entered into a settlement and modified consent order to resolve the FTC inquiry, which took effect in April 2020. Among other matters, our settlement with the FTC required us to pay a penalty of $5.0 billion which was paid in April 2020 upon the effectiveness of the modified consent order. The state attorneys general inquiry and certain government inquiries in other jurisdictions remain ongoing. On July 16, 2021, a stockholder derivative action was filed in Delaware Court of Chancery against certain of our directors and officers asserting breach of fiduciary duty and related claims relating to our historical platform and user data practices, as well as our settlement with the FTC. On July 20, 2021, other stockholders filed an amended derivative complaint in a related Delaware Chancery Court action, asserting breach of fiduciary duty and related claims against certain of our current and former directors and officers in connection with our historical platform and user data practices. On November 4, 2021, the lead plaintiffs filed a second amended and consolidated complaint in the stockholder derivative action. The pending consolidated matter is In re Facebook Inc. Derivative Litigation. On January 19, 2022, we filed a motion to dismiss, which was denied in part on May 10, 2023. The insider trading claim was dismissed as to all defendants except Mark Zuckerberg, and the motion was denied as to the breach of fiduciary duty claims. On May 3, 2023, the FTC filed a public administrative proceeding (In the Matter of Facebook, Inc.) seeking substantial changes to the modified consent order, which took effect in April 2020 after its entry by the U.S. District Court for the District of Columbia. The changes sought by the FTC are set forth in a proposed order and include, among others, a prohibition on our use of minors' data for any commercial purposes, changes to the composition of our board of directors, and significant limitations on our ability to modify and launch new products. On May 31, 2023, we filed a motion before the U.S. District Court for the District of Columbia (USA v. Facebook, Inc.) seeking to enjoin the FTC from further pursuing its agency process to modify the modified consent order. On November 27, 2023, the district court denied our motion, and we then appealed to the U.S. Court of Appeals for the District of Columbia Circuit (U.S. v. Facebook, Inc.) and sought to stay the FTC proceeding pending resolution of the appeal. On January 12, 2024, the district court denied our motion for a stay pending appeal. We subsequently filed a motion for a stay pending appeal with the U.S. Court of Appeals for the District of Columbia, which the appellate court denied on March 12, 2024. We will be briefing the underlying appeal in spring and summer 2024. On November 29, 2023, we separately filed a complaint, also in the U.S. District Court for the District of Columbia (Meta Platforms, Inc. v. FTC), asserting constitutional challenges to the structure of the FTC, and seeking to preliminarily enjoin the FTC proceeding during the pendency of the litigation. On December 13, 2023, the U.S. Department of Justice (DOJ) filed an opposition to our motion for preliminary injunction and a motion to dismiss the complaint. On March 14, 2024, the district court denied our motion to preliminarily enjoin the FTC proceeding during the pendency of the litigation, and also denied the DOJ's motion to dismiss our complaint. We appealed the denial of our motion for a preliminary injunction to the U.S. Circuit Court of Appeals for the District of Columbia and sought to stay the FTC proceeding pending resolution of the appeal. The D.C. Circuit denied the stay motion on March 29, 2024. On April 1, 2024, we filed our response to the FTC's Order to Show Cause. Through the administrative process, the FTC could amend the order to impose the additional requirements set forth in the proposed order. We should have the opportunity to appeal an FTC decision modifying the order and could request the appellate court to stay the enforcement of the modifications to the order while the appeal is pending. It is unclear whether the appeal or the request for a stay would be successful. We also notify the Irish Data Protection Commission (IDPC), our lead European Union privacy regulator under the General Data Protection Regulation (GDPR), of certain other personal data breaches and privacy issues, 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 (Texas v. Meta Platforms, Inc.) alleging that "tag suggestions" and other uses of facial recognition technology violate the Texas Capture or Use of Biometric Identifiers Act (CUBI) and the Texas Deceptive Trade Practices-Consumer Protection Act (DTPA), and seeking statutory damages and injunctive relief. The State of Texas alleges that these purported violations relate to approximately 30 million Texans over a period of approximately eleven years and that there were multiple violations per person. While the existence and number of potential violations will be disputed, CUBI provides for penalties up to $25,000 per violation, and the DTPA provides for penalties up to $10,000 per violation. The State of Texas has not indicated the amount of penalties it intends to seek at trial, but the amount of penalties sought by the State will likely be material. On April 19, 2024, the State of Texas filed a motion for summary judgment. The case is currently scheduled for trial in June 2024. We intend to defend the company vigorously both with respect to whether the statutes were violated and also as to the number of, and appropriate penalties for, any potential violations. The CUBI statute was enacted over twenty years ago and has never been enforced before. Accordingly, there is little legal guidance regarding how it should be interpreted or how its penalty provisions should be applied. In addition to defending the company at trial, we intend to defend the company vigorously on appeal in the event of an adverse jury award, but the ultimate losses related to this matter could be material. Beginning on June 7, 2021, multiple putative class actions were filed against us alleging that we improperly received individuals' information from third-party websites or apps via our business tools in violation of our terms and various state and federal laws and seeking unspecified damages and injunctive relief (for example, In re Meta Pixel Healthcare Litigation; In re Meta Pixel Tax Filing Cases; Frasco v. Flo Health, Inc.; Doe v. Hey Favor, Inc. et al.; Doe v. GoodRx Holdings, Inc. et al. in the U.S. District Court for the Northern District of California; and Rickwalder, et al. v. Meta Platforms, Inc. in the Santa Clara County Superior Court). Competition We are subject to various litigation and government inquiries and investigations, formal or informal, by competition authorities in the United States, Europe, and other jurisdictions. Such investigations, inquiries, and lawsuits concern, among other things, our business practices in the areas of social networking or social media services, digital advertising, and/or mobile or online applications, as well as our acquisitions. For example, in 2019 we became the subject of antitrust investigations by the FTC and DOJ. On December 9, 2020, the FTC filed a complaint (FTC v. Meta Platforms, Inc.) against us in the U.S. District Court for the District of Columbia alleging that we engaged in anticompetitive conduct and unfair methods of competition in violation of Section 5 of the Federal Trade Commission Act and Section 2 of the Sherman Act, including by acquiring Instagram in 2012 and WhatsApp in 2014 and by maintaining conditions on access to our platform. The FTC sought a permanent injunction against our company's alleged violations of the antitrust laws, and other equitable relief, including divestiture or reconstruction of Instagram and WhatsApp. On June 28, 2021, the court granted our motion to dismiss the complaint filed by the FTC with leave to amend. On August 19, 2021, the FTC filed an amended complaint, and on October 4, 2021, we filed a motion to dismiss this amended complaint. On January 11, 2022, the court denied our motion to dismiss the FTC's amended complaint. On April 5, 2024, we filed our motion for summary judgment. Multiple putative class actions have also been filed in state and federal courts in the United States and in the United Kingdom against us alleging violations of antitrust laws and other causes of action in connection with these acquisitions and/or other alleged anticompetitive conduct, and seeking damages and injunctive relief. Several of the cases brought on behalf of certain advertisers and users in the United States were consolidated in the U.S. District Court for the Northern District of California (Klein et al., v. Meta Platforms, Inc.). On January 14, 2022, the court granted, in part, and denied, in part, our motion to dismiss the consolidated actions. On March 1, 2022, a first amended consolidated complaint was filed in the putative class action brought on behalf of certain advertisers. On December 6, 2022, the court denied our motion to dismiss the first amended consolidated complaint filed in the putative class action brought on behalf of certain advertisers. In December 2022, the European Commission issued a Statement of Objections alleging that we tie Facebook Marketplace to Facebook and use data in a manner that infringes European Union competition rules. Although we are vigorously defending this matter, we have accrued a significant amount related to this matter and we believe there is a reasonable possibility that the ultimate losses in this matter could be material. Securities and Other Actions Beginning on March 20, 2018, multiple putative class actions and derivative actions were filed in state and federal courts in the United States and elsewhere against us and certain of our directors and officers alleging violations of securities laws, breach of fiduciary duties, and other causes of action in connection with our platform and user data practices as well as the misuse of certain data by a developer that shared such data with third parties in violation of our terms and policies, and seeking unspecified damages and injunctive relief. Beginning on July 27, 2018, two putative class actions were filed in federal court in the United States against us and certain of our directors and officers alleging violations of securities laws in connection with the disclosure of our earnings results for the second quarter of 2018 and seeking unspecified damages. These two actions subsequently were transferred and consolidated in the U.S. District Court for the Northern District of California (In Re Facebook, Inc. Securities Litigation) with the putative securities class action described above relating to our platform and user data practices. In a series of orders in 2019 and 2020, the district court granted our motions to dismiss the plaintiffs' claims. On January 17, 2022, the plaintiffs filed a notice of appeal of the order dismissing their case, and on October 18, 2023, the U.S. Court of Appeals for the Ninth Circuit issued its decision affirming in part and reversing in part the district court's order dismissing the plaintiffs' case. We are also subject to other government inquiries and investigations relating to our business activities and disclosure practices. For example, beginning in September 2021, we became subject to government investigations and requests relating to a former employee's allegations and release of internal company documents concerning, among other things, our algorithms, advertising and user metrics, and content enforcement practices, as well as misinformation and other undesirable activity on our platform, and user well-being. We have since received additional requests relating to these and other topics. Beginning on October 27, 2021, multiple putative class actions and derivative actions were filed in the U.S. District Court for the Northern District of California against us and certain of our directors and officers alleging violations of securities laws, breach of fiduciary duties, and other causes of action in connection with the same matters, and seeking unspecified damages. Ohio Pub. Empl. Ret. Sys. v. Meta Platforms, Inc. On March 8, 2022, a putative class action was filed in the U.S. District Court for the Northern District of California against us and certain of our directors and officers alleging violations of securities laws in connection with the disclosure of our earnings results for the fourth quarter of 2021 and seeking unspecified damages (Plumbers & Steamfitters Local 60 Pension Trust v. Meta Platforms, Inc.). On July 18, 2023, the court dismissed the claims against Meta and its officers with leave to amend. On September 18, 2023, the plaintiffs filed an amended complaint. Youth-Related Actions Beginning in January 2022, we became subject to litigation and other proceedings that were filed in various federal and state courts alleging that Facebook and Instagram cause "social media addiction" in users, with most proceedings focused on those under 18 years old, resulting in various mental health and other harms. Putative class actions have been filed in the United States and Canada on behalf of users in those jurisdictions, and numerous school districts, municipalities, tribal nations, and one state in the United States have filed public nuisance claims based on similar allegations. On October 6, 2022, the federal cases were centralized in the U.S. District Court for the Northern District of California (In re Social Media Adolescent Addiction Product Liability Personal Injury Litigation). On October 13, 2023, in In re Social Media Cases, the Los Angeles County Superior Court presiding over the California state court proceedings sustained in part and overruled in part our demurrer as to the plaintiff's claims. Beginning in October 2023, additional U.S. states have filed lawsuits on these topics in various federal and state courts. These additional lawsuits include allegations regarding violations of the Children's Online Privacy Protection Act (COPPA) as well as violations of state laws concerning consumer protection, unfair business practices, and products liability, with proceedings focused on our alleged business practices and harms to users under 18 years old. These lawsuits seek damages and injunctive relief, and include cases filed by various state attorneys general in In re Social Media Adolescent Addiction Product Liability Personal Injury Litigation in the U.S. District Court for the Northern District of California, as well as various state courts around the country. We are also subject to government investigations and requests from multiple regulators concerning the use of our products and services, and the alleged mental and physical health and safety impacts on users, particularly younger users. Other Actions Beginning on August 15, 2018, multiple putative class actions were filed against us alleging that we inflated our estimates of the potential audience size for advertisements, resulting in artificially increased demand and higher prices. The cases were consolidated in the U.S. District Court for the Northern District of California (DZ Reserve v. Facebook, Inc.) and seek unspecified damages and injunctive relief. In a series of rulings in 2019, 2021, and 2022, the court dismissed certain of the plaintiffs' claims, but permitted their fraud and unfair competition claims to proceed. On March 29, 2022, the court granted the plaintiffs' motion for class certification. On March 21, 2024, the U.S. Court of Appeals for the Ninth Circuit affirmed in part and reversed in part the order granting class certification. Beginning on July 7, 2023, multiple putative class actions were filed against us in the U.S. District Court for the Northern District of California (Kadrey, et al. v. Meta Platforms, Inc. and Chabon, et al. v. Meta Platforms, Inc.) and U.S. District Court for the Southern District of New York (Huckabee, et al. v. Meta Platforms, Inc. et al., which was subsequently transferred to the U.S. District Court for the Northern District of California) alleging that we used various copyrighted books and materials to train our artificial intelligence models, and seeking unspecified damages and injunctive relief. In addition, we are subject to litigation and other proceedings involving law enforcement and other regulatory agencies, including in particular in Brazil, Russia, and other countries in Europe, in order to ascertain the precise scope of our legal obligations to comply with the requests of those agencies, including our obligation to disclose user information in particular circumstances. A number of such instances have resulted in the assessment of fines and penalties against us. We believe we have multiple legal grounds to satisfy these requests or prevail against associated fines and penalties, and we intend to vigorously defend such fines and penalties.
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Stockholders' Equity |
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| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders' Equity | Stockholders' Equity Capital Return Program Share Repurchase Our board of directors has authorized a share repurchase program of our Class A common stock, which commenced in January 2017 and does not have an expiration date. As of December 31, 2023, $30.93 billion remained available and authorized for repurchases under this program. In January 2024, an additional $50 billion of repurchases was authorized under this program. During the three months ended March 31, 2024, we repurchased and subsequently retired 34 million shares of our Class A common stock for an aggregate amount of $14.64 billion, which includes the 1% excise tax accruals as a result of the Inflation Reduction Act of 2022. As of March 31, 2024, $66.40 billion remained available and authorized for repurchases. The timing and actual number of shares repurchased under the repurchase program depend on a variety of factors, including price, general business and market conditions, and other investment opportunities. Shares may be repurchased through open market purchases or privately negotiated transactions, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. Dividend On February 1, 2024, we announced the initiation of our first ever cash dividend program and Meta's board of directors declared a cash dividend of $0.50 per share of our Class A common stock and Class B common stock to all holders of record of common stock at the close of business on February 22, 2024. These dividends were paid in March 2024, totaling to $1.10 billion and $174 million for Class A and Class B shares, respectively. Subject to legally available funds and future declaration by our board of directors, we currently intend to continue to pay a quarterly cash dividend on our outstanding common stock. The declaration and payment of future dividends is at the sole discretion of our board of directors after taking into account various factors, including our financial condition, operating results, available cash, and current and anticipated cash needs. Share-based Compensation Plan As of March 31, 2024, there were 464 million shares of our Class A common stock reserved for future issuance under our 2012 Equity Incentive Plan (Amended 2012 Plan), which was most recently amended in December 2022. 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):
The following table summarizes the activities for our unvested RSUs for the three months ended March 31, 2024:
The fair value as of the respective vesting dates of RSUs that vested during the three months ended March 31, 2024 and 2023 was $7.58 billion and $2.44 billion, respectively. The income tax benefit recognized related to awards vested during the three months ended March 31, 2024 and 2023 was $1.61 billion and $519 million, respectively. As of March 31, 2024, there was $45.04 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.
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Income Taxes |
3 Months Ended |
|---|---|
Mar. 31, 2024 | |
| 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, including excess tax benefits recognized from share-based compensation and changes in unrecognized tax benefits. 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, and the effects of tax law changes. Our gross unrecognized tax benefits were $12.08 billion and $11.67 billion on March 31, 2024 and December 31, 2023, respectively. These unrecognized tax benefits were primarily accrued for the uncertainties related to transfer pricing with our foreign subsidiaries, which include licensing of intellectual property, providing services and other transactions, as well as for uncertainties with our research tax credits. If the gross unrecognized tax benefits as of March 31, 2024 were realized in a future period, this would result in a tax benefit of $7.65 billion within our provision for income taxes at such time. The amount of interest and penalties accrued was $1.62 billion and $1.48 billion as of March 31, 2024 and December 31, 2023, 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 which will likely provide a transfer pricing value for intellectual property transferred. This value will need to be extrapolated into income adjustments to determine the specific tax liability, which will likely remain in dispute and will not be resolved until the Tax Court enters a decision. If the IRS prevails in its updated position, this could result in an additional federal tax liability of an estimated, aggregate amount of up to approximately $9.0 billion in excess of the amounts in our originally filed U.S. return, plus interest and any penalties asserted. Once the Tax Court decision is entered, the IRS and Meta will each have the option to file an appeal to the Ninth Circuit Court of Appeals. In March 2018, we received a second Notice from the IRS in conjunction with the examination of our 2011 through 2013 tax years. The IRS applied its position from the 2010 tax year to each of these years and also proposed new adjustments related to other transfer pricing with our foreign subsidiaries and certain tax credits that we claimed. If the IRS prevails in its position for these new adjustments, this could result in an additional federal tax liability of up to approximately $680 million in excess of the amounts in our originally filed U.S. returns, plus interest and any penalties asserted. We do not agree with the positions of the IRS in the second Notice and have filed a petition in the Tax Court challenging the second Notice. We have previously accrued an estimated unrecognized tax benefit consistent with the guidance in ASC 740, Income Taxes (ASC 740), that is lower than the potential additional federal tax liability from the positions taken by the IRS in the two Notices and its Pretrial Memorandum. In addition, if the IRS prevails in its positions related to transfer pricing with our foreign subsidiaries, the additional tax that we would owe would be partially offset by a reduction in the tax that we owe under the mandatory transition tax on accumulated foreign earnings from the 2017 Tax Cuts and Jobs Act. As of March 31, 2024, we have not resolved these matters and proceedings continue in the Tax Court.
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Segment and Geographical Information |
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| Segments, Geographical Areas [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment and Geographical Information | Segment and Geographical Information We report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes our virtual, augmented, and mixed 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, legal-related costs, and severance costs. Indirect costs are allocated to segments based on a reasonable allocation methodology, when such costs are significant to the performance measures of the operating segments. Indirect operating expenses, such as facilities, information technology, certain shared research and development activities, recruiting, physical security expenses, and certain restructuring costs, are mostly allocated based on headcount. Costs related to the operation of our data centers and technical infrastructure are generally allocated to our segments based on usage, most of which is allocated to the FoA segment. The following table sets forth our segment information of revenue and income (loss) from operations (in millions):
For information regarding revenue disaggregated by geography, see Note 2 — Revenue.
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Pay vs Performance Disclosure - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
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| Pay vs Performance Disclosure | ||
| Net income | $ 12,369 | $ 5,709 |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
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Mar. 31, 2024
shares
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| Trading Arrangements, by Individual | |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
| Aaron Anderson [Member] | |
| Trading Arrangements, by Individual | |
| Material Terms of Trading Arrangement | On February 12, 2024, Aaron Anderson, our Chief Accounting Officer, entered into a trading plan that provides for the sale of up to 2,935 shares, which includes shares held by Mr. Anderson and the gross shares to be issued from the settlement of one-eighth of the total restricted stock units underlying Mr. Anderson's initial equity award granted on May 22, 2023, of which the net shares received may be sold. The plan will terminate on November 18, 2025, subject to early termination for certain specified events set forth in the plan.
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| Name | Aaron Anderson |
| Title | Chief Accounting Officer |
| Rule 10b5-1 Arrangement Adopted | true |
| Adoption Date | On February 12, 2024 |
| Arrangement Duration | 645 days |
| Aggregate Available | 2,935 |
| Mark Zuckerberg [Member] | |
| Trading Arrangements, by Individual | |
| Material Terms of Trading Arrangement | On February 21, 2024, Mark Zuckerberg, our founder, Chairman, and Chief Executive Officer entered into a trading plan that provides for the sale of an aggregate of up to 958,000 shares of our Class A common stock held by entities affiliated with Mr. Zuckerberg. The plan will terminate on November 21, 2024, subject to early termination for certain specified events set forth in the plan.
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| Name | Mark Zuckerberg |
| Title | founder, Chairman, and Chief Executive Officer |
| Rule 10b5-1 Arrangement Adopted | true |
| Adoption Date | February 21, 2024 |
| Arrangement Duration | 274 days |
| Aggregate Available | 958,000 |
| Sheryl Sandberg [Member] | |
| Trading Arrangements, by Individual | |
| Material Terms of Trading Arrangement | On February 28, 2024, Sheryl Sandberg, a member of our board of directors, entered into a trading plan that provides for the sale of an aggregate of 973,846 shares of our Class A common stock. The plan will terminate on November 22, 2024, subject to early termination for certain specified events set forth in the plan.
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| Name | Sheryl Sandberg |
| Title | member of our board of directors |
| Rule 10b5-1 Arrangement Adopted | true |
| Adoption Date | February 28, 2024 |
| Arrangement Duration | 268 days |
| Aggregate Available | 973,846 |
Summary of Significant Accounting Policies (Policies) |
3 Months Ended |
|---|---|
Mar. 31, 2024 | |
| 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, 2023. The condensed consolidated balance sheet as of December 31, 2023 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, 2024.
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| Balance Sheets Reclassifications | Balance Sheets Reclassifications Certain prior period amounts on the condensed consolidated balance sheets have been reclassified to conform to current period presentation. •Intangible assets, net was reclassified into other assets •Partners payable was reclassified into accrued expenses and other current liabilities •Long-term income taxes was reclassified out of other liabilities
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| 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 loss contingencies, income taxes, valuation of long-lived assets and their associated estimated useful lives, valuation of non-marketable equity securities, revenue recognition, valuation of goodwill, credit losses of available-for-sale debt securities and accounts receivable, and fair value of financial instruments and leases. These estimates are based on management's knowledge about current events, interpretation of regulations, and expectations about actions we may undertake in the future. Actual results could differ materially from those estimates.
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| 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, 2023.
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| Earnings Per Share | 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. Diluted EPS is computed by dividing the net income by the weighted-average number of fully diluted common stock outstanding and assumes the conversion of our Class B common stock to Class A common stock. |
| 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 our virtual, augmented, and mixed 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, legal-related costs, and severance costs. Indirect costs are allocated to segments based on a reasonable allocation methodology, when such costs are significant to the performance measures of the operating segments. Indirect operating expenses, such as facilities, information technology, certain shared research and development activities, recruiting, physical security expenses, and certain restructuring costs, are mostly allocated based on headcount. Costs related to the operation of our data centers and technical infrastructure are generally allocated to our segments based on usage, most of which is allocated to the FoA segment.
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Revenue (Tables) |
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| Disaggregation of Revenue | Revenue disaggregated by revenue source and by segment consists of the following (in millions):
Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions):
(1) Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East.
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Restructuring (Tables) |
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| 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):
(1)Relates to a change in estimate in our data center restructuring charges recorded during 2022.
The 2022 Restructuring charges recorded to date under our FoA segment were $6.03 billion, and RL segment were $1.08 billion.
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Earnings per Share (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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):
____________________________________ (1) Include 2,197 million and 2,223 million shares of Class A common stock and 348 million and 364 million shares of Class B common stock, for the three months ended March 31, 2024 and 2023, respectively. (2) The prior period EPS for Class A and Class B has been presented together to conform with current period presentation, which had no impact on our previously reported basic or diluted EPS.
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Financial Instruments (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value, Assets Measured on Recurring Basis | The following tables summarize our assets measured at fair value on a recurring basis and the classification by level of input within the fair value hierarchy (in millions):
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| Available-for-sale Marketable Securities | The following tables summarize our available-for-sale marketable debt securities and cash equivalents with unrealized losses as of March 31, 2024 and December 31, 2023, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions):
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| Marketable Securities by Contractual Maturities | The following table classifies our marketable debt securities by contractual maturities (in millions):
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Non-marketable Equity Securities (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | The following table summarizes our non-marketable equity securities that were measured using measurement alternative and equity method (in millions):
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Property and Equipment (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and Equipment | Property and equipment, net consists of the following (in millions):
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Leases (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Lease Costs | The components of operating lease costs and supplemental lease information are as follows (in millions):
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Goodwill and Intangible Assets (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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):
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Accrued Expenses and Other Current Liabilities (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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):
(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.
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Commitment and Contingencies (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| Contractual Commitments | The following is a schedule, by years, of non-cancelable contractual commitments as of March 31, 2024 (in millions):
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Stockholders' Equity (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement, Expensed and Capitalized, Amount | The following table summarizes our share-based compensation expense, which consists of the RSU expense, by line item in our condensed consolidated statements of income (in millions):
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| Restricted Stock Units Award Activity | The following table summarizes the activities for our unvested RSUs for the three months ended March 31, 2024:
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Segment and Geographical Information (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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):
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Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Disaggregation of Revenue [Line Items] | ||
| Revenue: | $ 36,455 | $ 28,645 |
| United States and Canada | ||
| Disaggregation of Revenue [Line Items] | ||
| Revenue: | 13,646 | 11,449 |
| Europe | ||
| Disaggregation of Revenue [Line Items] | ||
| Revenue: | 8,404 | 6,759 |
| Asia-Pacific | ||
| Disaggregation of Revenue [Line Items] | ||
| Revenue: | 10,312 | 7,292 |
| Rest of World | ||
| Disaggregation of Revenue [Line Items] | ||
| Revenue: | 4,093 | 3,145 |
| Family of Apps | ||
| Disaggregation of Revenue [Line Items] | ||
| Revenue: | 36,015 | 28,306 |
| Reality Labs | ||
| Disaggregation of Revenue [Line Items] | ||
| Revenue: | 440 | 339 |
| Advertising | Family of Apps | ||
| Disaggregation of Revenue [Line Items] | ||
| Revenue: | 35,635 | 28,101 |
| Other revenue | Family of Apps | ||
| Disaggregation of Revenue [Line Items] | ||
| Revenue: | $ 380 | $ 205 |
Revenue - Narrative (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Revenue from Contract with Customer [Abstract] | ||
| Total deferred revenue balance | $ 645 | $ 675 |
| Deferred revenue, current | $ 599 |
Restructuring - Narrative (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2022
employee
| |
| 2022 Restructuring | |
| Restructuring Cost and Reserve [Line Items] | |
| Expected number of positions eliminated | 11,000 |
Earnings per Share - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
1 Months Ended | 3 Months Ended | ||
|---|---|---|---|---|
Feb. 01, 2024 |
Mar. 31, 2024 |
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Earnings Per Share, Basic, by Common Class, Including Two Class Method | ||||
| Shares used in computation of basic EPS (in shares) | 2,545 | 2,587 | ||
| Dividends paid | $ 1,273 | $ 0 | ||
| Class A | ||||
| Earnings Per Share, Basic, by Common Class, Including Two Class Method | ||||
| Shares used in computation of basic EPS (in shares) | 2,197 | 2,223 | ||
| Dividends payable (in dollars per share) | $ 0.50 | $ 0.50 | ||
| Dividends paid | $ 1,100 | $ 1,100 | ||
| Class A | Restricted Stock Units (RSUs) | ||||
| Earnings Per Share, Basic, by Common Class, Including Two Class Method | ||||
| Shares excluded from EPS calc (in shares) | 5 | 86 | ||
| Class B | ||||
| Earnings Per Share, Basic, by Common Class, Including Two Class Method | ||||
| Shares used in computation of basic EPS (in shares) | 348 | 364 | ||
| Dividends payable (in dollars per share) | $ 0.50 | $ 0.50 | ||
| Dividends paid | $ 174 | $ 174 | ||
Earnings per Share - Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Numerator | ||
| Distributed earnings | $ 1,273 | $ 0 |
| Undistributed earnings | 11,096 | 5,709 |
| Net income | $ 12,369 | $ 5,709 |
| Denominator | ||
| Shares used in computation of basic EPS (in shares) | 2,545 | 2,587 |
| Basic EPS (in dollars per share) | $ 4.86 | $ 2.21 |
| Numerator | ||
| Net income for diluted EPS | $ 12,369 | $ 5,709 |
| Denominator | ||
| Shares used in computation of basic EPS (in shares) | 2,545 | 2,587 |
| Weighted-average effect of dilutive RSUs (in shares) | 80 | 9 |
| Shares used inn computation of diluted EPS (in shares) | 2,625 | 2,596 |
| Diluted EPS (in dollars per share) | $ 4.71 | $ 2.20 |
Financial Instruments - Narrative (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
Mar. 31, 2023 |
|---|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
| Non-marketable equity securities | $ 6,218 | $ 6,141 | |
| Significant Unobservable Inputs (Level 3) | |||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
| Non-marketable equity securities | $ 154 | $ 119 |
Financial Instruments - Contractual Maturities of Marketable Debt Securities (Details) $ in Millions |
Mar. 31, 2024
USD ($)
|
|---|---|
| Contractual Maturities of Marketable Securities | |
| Due within one year | $ 7,965 |
| Due after one year to five years | 17,848 |
| Total | $ 25,813 |
Non-marketable Equity Securities (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Investments, Debt and Equity Securities [Abstract] | ||
| Initial cost | $ 6,390 | $ 6,389 |
| Cumulative upward adjustments | 394 | 293 |
| Cumulative impairment/downward adjustments | (623) | (599) |
| Carrying value | 6,161 | 6,083 |
| Non-marketable equity securities under equity method | 57 | 58 |
| Total | $ 6,218 | $ 6,141 |
Property and Equipment - Summary (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Property, Plant and Equipment | ||
| Finance lease right-of-use assets | $ 4,323 | $ 4,185 |
| Property and equipment, gross | 134,818 | 129,721 |
| Less: Accumulated depreciation | (35,910) | (33,134) |
| Property and equipment, net | 98,908 | 96,587 |
| Land | ||
| Property, Plant and Equipment | ||
| Property and equipment, gross | 2,075 | 2,080 |
| Servers and network assets | ||
| Property, Plant and Equipment | ||
| Property and equipment, gross | 51,882 | 46,838 |
| Buildings | ||
| Property, Plant and Equipment | ||
| Property and equipment, gross | 39,322 | 37,961 |
| Leasehold improvements | ||
| Property, Plant and Equipment | ||
| Property and equipment, gross | 7,079 | 6,972 |
| Equipment and other | ||
| Property, Plant and Equipment | ||
| Property and equipment, gross | 7,162 | 7,416 |
| Construction in progress | ||
| Property, Plant and Equipment | ||
| Property and equipment, gross | $ 22,975 | $ 24,269 |
Property and Equipment - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Property, Plant and Equipment | ||
| Depreciation | $ 3,330 | $ 2,480 |
| Servers and network assets | ||
| Property, Plant and Equipment | ||
| Depreciation | $ 2,350 | $ 1,510 |
Leases - Components of Lease Cost (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Lease cost: | ||
| Operating lease cost | $ 534 | $ 557 |
| Variable lease cost and other, net | 196 | 124 |
| Total lease cost | ||
| Operating cash flows for operating leases | 709 | 478 |
| Operating lease liabilities arising from obtaining right-of-use assets | $ 908 | $ 1,282 |
Leases - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Lessee, Lease, Description [Line Items] | ||
| Total future lease payments under operating leases | $ 24,190 | |
| Operating leases (in years) | 11 years 6 months | |
| Operating lease not yet commenced | $ 6,170 | |
| 2022 Restructuring | ||
| Lessee, Lease, Description [Line Items] | ||
| Restructuring charges | $ 621 | |
| Operating Lease, ROU Asset | 2022 Restructuring | ||
| Lessee, Lease, Description [Line Items] | ||
| Restructuring charges | $ 242 | $ 673 |
| Minimum | ||
| Lessee, Lease, Description [Line Items] | ||
| Lease not yet commenced, term | 1 year | |
| Maximum | ||
| Lessee, Lease, Description [Line Items] | ||
| Lease not yet commenced, term | 25 years | |
Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Business Acquisition [Line Items] | ||
| Goodwill | $ 20,654 | $ 20,654 |
| Reality Labs | ||
| Business Acquisition [Line Items] | ||
| Goodwill | 1,410 | 1,410 |
| Family of Apps | ||
| Business Acquisition [Line Items] | ||
| Goodwill | $ 19,250 | $ 19,250 |
Long-term Debt (Details) - Senior Notes - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Debt Instrument | ||
| Long-term debt, carrying amount | $ 18,390 | $ 18,390 |
| Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2) | ||
| Debt Instrument | ||
| Long-term debt, fair value | $ 18,060 | $ 18,480 |
Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Payables and Accruals [Abstract] | ||
| Legal-related accruals | $ 7,791 | $ 6,592 |
| Accrued compensation and benefits | 3,333 | 6,659 |
| Accrued taxes | 4,863 | 3,655 |
| Accrued property and equipment | 1,744 | 2,213 |
| Other current liabilities | 4,909 | 6,369 |
| Accrued expenses and other current liabilities | $ 22,640 | $ 25,488 |
Commitments and Contingencies - Contractual Commitments (Details) $ in Millions |
Mar. 31, 2024
USD ($)
|
|---|---|
| Commitments and Contingencies Disclosure [Abstract] | |
| The remainder of 2024 | $ 10,563 |
| 2025 | 1,022 |
| 2026 | 548 |
| 2027 | 353 |
| 2028 | 182 |
| Thereafter | 2,667 |
| Total | $ 15,335 |
Stockholders' Equity - Share-based Compensation Plans (Detail) shares in Millions |
Mar. 31, 2024
shares
|
|---|---|
| Equity Incentive Plan 2012 | |
| Share-based Compensation Arrangement by Share-based Payment Award | |
| Equity incentive plan shares authorized (in shares) | 464 |
Stockholders' Equity - Summary of Share-Based Compensation Expense (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Share-based Compensation Arrangement by Share-based Payment Award | ||
| Total share-based compensation expense | $ 3,562 | $ 3,051 |
| Cost of revenue | ||
| Share-based Compensation Arrangement by Share-based Payment Award | ||
| Total share-based compensation expense | 221 | 160 |
| Research and development | ||
| Share-based Compensation Arrangement by Share-based Payment Award | ||
| Total share-based compensation expense | 2,911 | 2,449 |
| Marketing and sales | ||
| Share-based Compensation Arrangement by Share-based Payment Award | ||
| Total share-based compensation expense | 226 | 219 |
| General and administrative | ||
| Share-based Compensation Arrangement by Share-based Payment Award | ||
| Total share-based compensation expense | $ 204 | $ 223 |
Stockholders' Equity - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) shares in Thousands |
3 Months Ended |
|---|---|
|
Mar. 31, 2024
$ / shares
shares
| |
| Number of Shares | |
| Unvested at beginning of period (in shares) | shares | 149,062 |
| Granted (in shares) | shares | 39,117 |
| Vested (in shares) | shares | (16,003) |
| Forfeited (in shares) | shares | (2,108) |
| Unvested at end of period (in shares) | shares | 170,068 |
| Weighted-Average Grant Date Fair Value Per Share | |
| Unvested at beginning of period (in dollars per share) | $ / shares | $ 209.85 |
| Granted (in dollars per share) | $ / shares | 501.14 |
| Vested (in dollars per share) | $ / shares | 212.85 |
| Forfeited (in dollars per share) | $ / shares | 218.80 |
| Unvested at end of period (in dollars per share) | $ / shares | $ 276.45 |
Stockholders' Equity - Additional Award Disclosures (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Share-based Compensation Arrangement by Share-based Payment Award | ||
| Unrecognized share-based compensation expense | $ 45,040 | |
| 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 | $ 7,580 | $ 2,440 |
| Tax benefit | $ 1,610 | $ 519 |
Income Taxes (Details) $ in Millions |
1 Months Ended | |||
|---|---|---|---|---|
|
Mar. 31, 2018
USD ($)
notice
|
Jul. 31, 2016
USD ($)
|
Mar. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
|
| Income Tax Contingency [Line Items] | ||||
| Unrecognized tax benefits | $ 12,080 | $ 11,670 | ||
| Unrecognized tax benefits that would result in tax benefit if realized | 7,650 | |||
| Accrued interest and penalties | $ 1,620 | $ 1,480 | ||
| Internal Revenue Service (IRS) | Tax Year 2010 | ||||
| Income Tax Contingency [Line Items] | ||||
| Income tax examination, estimate of possible loss | $ 9,000 | |||
| Internal Revenue Service (IRS) | Tax Years 2011 Through 2013 | ||||
| Income Tax Contingency [Line Items] | ||||
| Income tax examination, estimate of possible loss | $ 680 | |||
| Number of notices | notice | 2 | |||
Segment and Geographical Information - Narrative (Details) |
3 Months Ended |
|---|---|
|
Mar. 31, 2024
reportable_segment
| |
| Segments, Geographical Areas [Abstract] | |
| Number of reportable segments (in segments) | 2 |
Segment and Geographical Information - Segment Information of Revenue and Income (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Segment Reporting Information [Line Items] | ||
| Revenue: | $ 36,455 | $ 28,645 |
| Income (loss) from operations: | 13,818 | 7,227 |
| Family of Apps | ||
| Segment Reporting Information [Line Items] | ||
| Revenue: | 36,015 | 28,306 |
| Income (loss) from operations: | 17,664 | 11,219 |
| Reality Labs | ||
| Segment Reporting Information [Line Items] | ||
| Revenue: | 440 | 339 |
| Income (loss) from operations: | $ (3,846) | $ (3,992) |