Meta Platforms (META) 10-Q27 Jul 222022 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2022	Jul. 22, 2022
Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-35551
Entity Registrant Name	Meta Platforms, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1665019
Entity Address, Address Line One	1601 Willow Road
Entity Address, City or Town	Menlo Park
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94025
City Area Code	650
Local Phone Number	543-4800
Title of 12(b) Security	Class A Common Stock, $0.000006 par value
Trading Symbol	META
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001326801
Current Fiscal Year End Date	--12-31
Class A Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		2,280,672,002
Class B Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		406,876,470

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 12,681	$ 16,601
Marketable securities	27,808	31,397
Accounts receivable, net	11,525	14,039
Prepaid expenses and other current assets	3,973	4,629
Total current assets	55,987	66,666
Non-marketable equity securities	6,536	6,775
Property and equipment, net	67,588	57,809
Operating lease right-of-use assets	14,130	12,155
Intangible assets, net	965	634
Goodwill	20,229	19,197
Other assets	4,344	2,751
Total assets	169,779	165,987
Current liabilities:
Accounts payable	4,008	4,083
Partners payable	982	1,052
Operating lease liabilities, current	1,275	1,127
Accrued expenses and other current liabilities	15,420	14,312
Deferred revenue and deposits	532	561
Total current liabilities	22,217	21,135
Operating lease liabilities, non-current	14,792	12,746
Other liabilities	7,003	7,227
Total liabilities	44,012	41,108
Commitments and contingencies
Stockholders' equity:
Common stock, $0.000006 par value; 5,000 million Class A shares authorized, 2,290 million and 2,328 million shares issued and outstanding, as of June 30, 2022 and December 31, 2021, respectively; 4,141 million Class B shares authorized, 407 million and 413 million shares issued and outstanding, as of June 30, 2022 and December 31, 2021, respectively	0	0
Additional paid-in capital	59,929	55,811
Accumulated other comprehensive loss	(3,411)	(693)
Retained earnings	69,249	69,761
Total stockholders' equity	125,767	124,879
Total liabilities and stockholders' equity	$ 169,779	$ 165,987

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
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)	5,000,000,000	5,000,000,000
Common stock, shares issued (in shares)	2,290,000,000	2,328,000,000
Common stock, shares outstanding (in shares)	2,290,000,000	2,328,000,000
Class B Common Stock
Stockholders' equity:
Common stock, shares authorized (in shares)	4,141,000,000	4,141,000,000
Common stock, shares issued (in shares)	407,000,000	413,000,000
Common stock, shares outstanding (in shares)	407,000,000	413,000,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue	$ 28,822	$ 29,077	$ 56,729	$ 55,248
Costs and expenses:
Cost of revenue	5,192	5,399	11,197	10,530
Research and development	8,690	6,096	16,397	11,293
Marketing and sales	3,595	3,259	6,907	6,102
General and administrative	2,987	1,956	5,347	3,578
Total costs and expenses	20,464	16,710	39,848	31,503
Income from operations	8,358	12,367	16,881	23,745
Interest and other income (expense), net	(172)	146	213	271
Income before provision for income taxes	8,186	12,513	17,094	24,016
Provision for income taxes	1,499	2,119	2,942	4,124
Net income	$ 6,687	$ 10,394	$ 14,152	$ 19,892
Earnings per share attributable to Class A and Class B common stockholders:
Basic (in dollars per share)	$ 2.47	$ 3.67	$ 5.21	$ 7
Diluted (in dollars per share)	$ 2.46	$ 3.61	$ 5.19	$ 6.90
Weighted-average shares used to compute earnings per share attributable to Class A and Class B common stockholders:
Basic (in shares)	2,704	2,834	2,714	2,841
Diluted (in shares)	2,713	2,877	2,729	2,881
Share-based compensation expense included in costs and expenses:
Share-based compensation expense	$ 3,351	$ 2,548	$ 5,850	$ 4,379
Cost of revenue
Share-based compensation expense included in costs and expenses:
Share-based compensation expense	213	163	373	281
Research and development
Share-based compensation expense included in costs and expenses:
Share-based compensation expense	2,606	1,967	4,547	3,376
Marketing and sales
Share-based compensation expense included in costs and expenses:
Share-based compensation expense	289	239	506	413
General and administrative
Share-based compensation expense included in costs and expenses:
Share-based compensation expense	$ 243	$ 179	$ 424	$ 309

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 6,687	$ 10,394	$ 14,152	$ 19,892
Other comprehensive income (loss):
Change in foreign currency translation adjustment, net of tax	(1,076)	169	(1,435)	(432)
Change in unrealized gain (loss) on available-for-sale investments and other, net of tax	(339)	(38)	(1,283)	(210)
Comprehensive income	$ 5,272	$ 10,525	$ 11,434	$ 19,250

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Class A and Class B Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Balances at beginning of period (in shares) at Dec. 31, 2020		2,849
Balances at beginning of period at Dec. 31, 2020	$ 128,290	$ 0	$ 50,018	$ 927	$ 77,345
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		22
Shares withheld related to net share settlement (in shares)		(8)
Shares withheld related to net share settlement	(2,432)		(1,552)		(880)
Share-based compensation	4,379		4,379
Share repurchases (in shares)		(37)
Share repurchases	(11,260)				(11,260)
Other comprehensive income (loss)	(642)			(642)
Net income	19,892				19,892
Balances at end of period (in shares) at Jun. 30, 2021		2,826
Balances at end of period at Jun. 30, 2021	138,227	$ 0	52,845	285	85,097
Balances at beginning of period (in shares) at Mar. 31, 2021		2,841
Balances at beginning of period at Mar. 31, 2021	133,657	$ 0	51,160	154	82,343
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		11
Shares withheld related to net share settlement (in shares)		(4)
Shares withheld related to net share settlement	(1,354)		(863)		(491)
Share-based compensation	2,548		2,548
Share repurchases (in shares)		(22)
Share repurchases	(7,149)				(7,149)
Other comprehensive income (loss)	131			131
Net income	10,394				10,394
Balances at end of period (in shares) at Jun. 30, 2021		2,826
Balances at end of period at Jun. 30, 2021	138,227	$ 0	52,845	285	85,097
Balances at beginning of period (in shares) at Dec. 31, 2021		2,741
Balances at beginning of period at Dec. 31, 2021	124,879	$ 0	55,811	(693)	69,761
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		25
Shares withheld related to net share settlement (in shares)		(9)
Shares withheld related to net share settlement	(1,927)		(1,732)		(195)
Share-based compensation	$ 5,850		5,850
Share repurchases (in shares)	(60)	(60)
Share repurchases	$ (14,469)				(14,469)
Other comprehensive income (loss)	(2,718)			(2,718)
Net income	14,152
Balances at end of period (in shares) at Jun. 30, 2022		2,697
Balances at end of period at Jun. 30, 2022	125,767	$ 0	59,929	(3,411)	69,249
Balances at beginning of period (in shares) at Mar. 31, 2022		2,714
Balances at beginning of period at Mar. 31, 2022	123,228	$ 0	57,512	(1,996)	67,712
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		14
Shares withheld related to net share settlement (in shares)		(5)
Shares withheld related to net share settlement	(1,002)		(934)		(68)
Share-based compensation	3,351		3,351
Share repurchases (in shares)		(26)
Share repurchases	(5,082)				(5,082)
Other comprehensive income (loss)	(1,415)			(1,415)
Net income	6,687				6,687
Balances at end of period (in shares) at Jun. 30, 2022		2,697
Balances at end of period at Jun. 30, 2022	$ 125,767	$ 0	$ 59,929	$ (3,411)	$ 69,249

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net income	$ 14,152	$ 19,892
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,135	3,958
Share-based compensation	5,850	4,379
Deferred income taxes	(1,016)	647
Other	(33)	(88)
Changes in assets and liabilities:
Accounts receivable	2,035	(517)
Prepaid expenses and other current assets	138	(2,313)
Other assets	(132)	(195)
Accounts payable	(645)	(134)
Partners payable	(33)	(133)
Accrued expenses and other current liabilities	1,943	(200)
Deferred revenue and deposits	(28)	9
Other liabilities	(94)	184
Net cash provided by operating activities	26,272	25,489
Cash flows from investing activities
Purchases of property and equipment	(13,013)	(8,944)
Proceeds relating to property and equipment	170	60
Purchases of marketable debt securities	(6,288)	(16,528)
Sales of marketable debt securities	7,713	6,337
Maturities of marketable debt securities	913	6,327
Acquisitions of businesses and intangible assets	(1,216)	(259)
Other investing activities	(17)	(62)
Net cash used in investing activities	(11,738)	(13,069)
Cash flows from financing activities
Taxes paid related to net share settlement of equity awards	(1,927)	(2,432)
Repurchases of Class A common stock	(14,739)	(11,018)
Principal payments on finance leases	(452)	(274)
Net change in overdraft in cash pooling entities	(59)	3
Other financing activities	(46)	(13)
Net cash used in financing activities	(17,223)	(13,734)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(698)	(129)
Net decrease in cash, cash equivalents, and restricted cash	(3,387)	(1,443)
Cash, cash equivalents, and restricted cash at beginning of the period	16,865	17,954
Cash, cash equivalents, and restricted cash at end of the period	13,478	16,511
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Cash and cash equivalents	12,681	16,186
Restricted cash	797
Total cash, cash equivalents, and restricted cash	13,478	16,511
Supplemental cash flow data
Cash paid for income taxes, net	2,641	6,294
Non-cash investing and financing activities:
Property and equipment in accounts payable and accrued expenses and other current liabilities	4,543	2,249
Settlement of convertible notes with marketable equity securities	131	0
Other current assets through financing arrangement in accrued expenses and other current liabilities	214	381
Repurchases of Class A common stock in accrued expenses and other current liabilities	70	310
Restricted cash included in prepaid expenses and other current assets
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Restricted cash	228	201
Restricted cash included in other assets
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Restricted cash	$ 569	$ 124

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated fi nancial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2021. The condensed consolidated balance sheet as of December 31, 2021 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, 2022. Use of Estimates Preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and judgments that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments we make about the carrying values of our assets and liabilities, which are not readily apparent from other sources. We base our estimates and judgments on historical information and on various other assumptions that we believe are reasonable under the circumstances. GAAP requires us to make estimates and judgments in several areas, including, but not limited to, those related to revenue recognition, valuation of non-marketable equity securities, income taxes, loss contingencies, including the ultimate resolution of litigation, regulatory matters, and asserted and unasserted claims, valuation of long-lived assets including goodwill, intangible assets, and property and equipment, and their associated estimated useful lives, valuation of purchase commitments, credit losses of available-for-sale debt securities and accounts receivable, fair value of financial instruments, and leases. These estimates are based on management's knowledge about current events, interpretations of regulations, and expectations about actions we may undertake in the future. Actual results could differ materially from those estimates. In connection with our periodic reviews of the estimated useful lives of property and equipment, we extended the estimated average useful lives of a majority of the servers and network assets from four years to 4.5 years, effective the second quarter of 2022, as a result of expected longer refresh cycles in our data centers. The financial impact of this change in estimate was a reduction in depreciation expense of $252 million and an increase in net income of $206 million, or $0.08 per diluted share for the three months ended June 30, 2022. The impact from the change in our estimates was calculated based on the servers and network assets existing as of the effective date of the change and applying the revised estimated useful lives prospectively. 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, 2021. Recently Adopted Accounting Pronouncements On January 1, 2022, we early adopted Accounting Standards Update (ASU) No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08), which clarifies that an acquirer of a business should recognize and measure contract assets and contract liabilities in a business combination in accordance with Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (Topic 606) . The adoption of this new standard did not have a material impact on our condensed consolidated financial statements. Accounting Pronouncements Not Yet Adopted In November 2021, the Financial Accounting Standards Board (FASB) issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosure by Business Entities about Government Assistance (ASU 2021-10), which requires the disclosure of government assistance received by most business entities relating to: (1) the types of government assistance received; (2) the accounting for such assistance; and (3) the effect of the assistance on a business entity's financial statements. This guidance will be effective for our annual financial statements for the year ended December 31, 2022. We are currently evaluating the impact of the new guidance on our consolidated financial statements. In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurements (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (ASU 2022-03), which clarifies and amends the guidance of measuring the fair value of equity securities subject to contractual restrictions that prohibit the sale of the equity securities. The adoption of this new standard will not have a material impact on our condensed consolidated financial statements.

Revenue

Revenue	6 Months Ended
Revenue	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue disaggregated by revenue source and by segment consists of the following (in millions). For comparative purposes, amounts in the prior periods have been recast: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Advertising $ 28,152 $ 28,580 $ 55,150 $ 54,018 Other revenue 218 192 433 391 Family of Apps 28,370 28,772 55,583 54,409 Reality Labs 452 305 1,146 839 Total revenue $ 28,822 $ 29,077 $ 56,729 $ 55,248 Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 United States and Canada (1) $ 12,186 $ 12,612 $ 23,965 $ 24,048 Europe (2) 6,650 7,220 13,288 13,604 Asia-Pacific 6,960 6,677 13,682 12,778 Rest of World (2) 3,026 2,568 5,794 4,818 Total revenue $ 28,822 $ 29,077 $ 56,729 $ 55,248 ____________________________________ (1) United States revenue was $11.43 billion and $11.82 billion for the three months ended June 30, 2022 and 2021, respectively, and $22.52 billion and $22.57 billion for the six months ended June 30, 2022 and 2021, respectively. (2) Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East. Our total deferred revenue was $549 million and $596 million as of June 30, 2022 and December 31, 2021, respectively. As of June 30, 2022, we expect $482 million of our deferred revenue to be realized in less than a year.

Earnings per Share

Earnings per Share	6 Months Ended
Earnings per Share	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share We compute earnings per share (EPS) of Class A and Class B common stock using the two-class method. As the liquidation and dividend rights for both Class A and Class B common stock are identical, the undistributed earnings are allocated on a proportionate basis to the weighted-average number of common shares outstanding for the period. Basic EPS is computed by dividing net income by the weighted-average number of shares of our Class A and Class B common stock outstanding. For the calculation of diluted EPS, net income for basic EPS is adjusted by the effect of dilutive securities, including awards under our equity compensation plan. In addition, the computation of the diluted EPS of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted EPS of Class B common stock does not assume the conversion of those shares to Class A common stock. Diluted EPS is computed by dividing the resulting net income by the weighted-average number of fully diluted common shares outstanding. For the three and six months ended June 30, 2022, 118 million and 87 million shares of Class A common stock equivalents of restricted stock units (RSUs), respectively, were excluded from the diluted EPS calculation as including them would have an anti-dilutive effect. RSUs with anti-dilutive effect were not material for the three and six months ended June 30, 2021. Basic and diluted EPS are the same for each class of common stock because they are entitled to the same liquidation and dividend rights. The numerators and denominators of the basic and diluted EPS computations for our common stock are calculated as follows (in millions, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Class A Class B Class A Class B Class A Class B Class A Class B Basic EPS: Numerator Net income $ 5,673 $ 1,014 $ 8,785 $ 1,609 $ 12,009 $ 2,143 $ 16,810 $ 3,082 Denominator Shares used in computation of basic earnings per share 2,294 410 2,395 439 2,303 411 2,401 440 Basic EPS $ 2.47 $ 2.47 $ 3.67 $ 3.67 $ 5.21 $ 5.21 $ 7.00 $ 7.00 Diluted EPS: Numerator Net income $ 5,673 $ 1,014 $ 8,785 $ 1,609 $ 12,009 $ 2,143 $ 16,810 $ 3,082 Reallocation of net income as a result of conversion of Class B to Class A common stock 1,014 — 1,609 — 2,143 — 3,082 — Reallocation of net income to Class B common stock — (4) — (24) — (11) — (44) Net income for diluted EPS $ 6,687 $ 1,010 $ 10,394 $ 1,585 $ 14,152 $ 2,132 $ 19,892 $ 3,038 Denominator Shares used in computation of basic earnings per share 2,294 410 2,395 439 2,303 411 2,401 440 Conversion of Class B to Class A common stock 410 — 439 — 411 — 440 — Weighted-average effect of dilutive RSUs 9 — 43 — 15 — 40 — Shares used in computation of diluted earnings per share 2,713 410 2,877 439 2,729 411 2,881 440 Diluted EPS $ 2.46 $ 2.46 $ 3.61 $ 3.61 $ 5.19 $ 5.19 $ 6.90 $ 6.90

Cash, Cash Equivalents, Marketa

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash	6 Months Ended
	Jun. 30, 2022
Cash and Cash Equivalents and Marketable Securities [Abstract]
Cash, Cash Equivalents, Marketable Securities, and Restricted Cash	Cash, Cash Equivalents, Marketable Securities, and Restricted Cash The following table sets forth the cash, cash equivalents, and marketable securities by major security type, and restricted cash (in millions): June 30, 2022 December 31, 2021 Cash and cash equivalents: Cash $ 6,322 $ 7,308 Money market funds 3,879 8,850 U.S. government securities 624 25 U.S. government agency securities 1,122 108 Certificates of deposit and time deposits 356 250 Corporate debt securities 378 60 Total cash and cash equivalents 12,681 16,601 Marketable securities: Marketable debt securities: U.S. government securities 9,252 10,901 U.S. government agency securities 5,095 5,927 Corporate debt securities 13,336 14,569 Total marketable debt securities 27,683 31,397 Marketable equity securities 125 — Total marketable securities 27,808 31,397 Restricted cash: Restricted cash included in prepaid expenses and other current assets 228 149 Restricted cash included in other assets 569 115 Total restricted cash 797 264 Total cash, cash equivalents, marketable securities, and restricted cash $ 41,286 $ 48,262 The following table summarizes our available-for-sale marketable debt securities and cash equivalents with unrealized losses as of June 30, 2022, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions): June 30, 2022 Less than 12 months 12 months or greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. government securities $ 8,599 $ (301) $ 212 $ (13) $ 8,811 $ (314) U.S. government agency securities 4,414 (132) 1,744 (131) 6,158 (263) Corporate debt securities 12,200 (700) 666 (53) 12,866 (753) Total $ 25,213 $ (1,133) $ 2,622 $ (197) $ 27,835 $ (1,330) The gross unrealized gains on our marketable debt securities and cash equivalents were not material as of June 30, 2022 and December 31, 2021. The gross unrealized losses were $1.33 billion as of June 30, 2022, and not material as of December 31, 2021, respectively. The allowance for credit losses on our marketable debt securities was not material as of June 30, 2022 and December 31, 2021. The following table classifies our marketable debt securities by contractual maturities (in millions): June 30, 2022 Due within one year $ 3,276 Due after one year to five years 24,407 Total $ 27,683

Non-marketable Equity Securitie

Non-marketable Equity Securities	6 Months Ended
Non-marketable Equity Securities	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Non-marketable Equity Securities	Non-marketable Equity Securities Our non-marketable equity securities are investments in privately-held companies without readily determinable fair values. The following table summarizes our non-marketable equity securities that were measured using measurement alternative and equity method (in millions): June 30, 2022 December 31, 2021 Non-marketable equity securities under measurement alternative: Initial cost $ 6,385 $ 6,480 Cumulative upward adjustments 293 311 Cumulative impairment/downward adjustments (176) (50) Carrying value 6,502 6,741 Non-marketable equity securities under equity method 34 34 Total $ 6,536 $ 6,775 As of June 30, 2022, we had $264 million of equity investment in Giphy. Due to regulatory restrictions, we do not control or exercise significant influence over Giphy. Based on the future outcome of developments with regulatory authorities, we may not be able to recover our carrying value in the event of a divestiture.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table summarizes our assets measured at fair value on a recurring basis and the classification by level of input within the fair value hierarchy (in millions): Fair Value Measurement at Reporting Date Using Description June 30, 2022 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash equivalents: Money market funds $ 3,879 $ 3,879 $ — $ — U.S. government securities 624 624 — — U.S. government agency securities 1,122 1,122 — — Certificates of deposit and time deposits 356 — 356 — Corporate debt securities 378 — 378 — Marketable debt securities: U.S. government securities 9,252 9,252 — — U.S. government agency securities 5,095 5,095 — — Corporate debt securities 13,336 — 13,336 — Marketable equity securities 125 5 — 120 Restricted cash equivalents 448 448 — — Other assets 194 — — 194 Total $ 34,809 $ 20,425 $ 14,070 $ 314 Fair Value Measurement at Reporting Date Using Description December 31, 2021 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash equivalents: Money market funds $ 8,850 $ 8,850 $ — $ — U.S. government securities 25 25 — — U.S. government agency securities 108 108 — — Certificates of deposit and time deposits 250 — 250 — Corporate debt securities 60 — 60 — Marketable debt securities: U.S. government securities 10,901 10,901 — — U.S. government agency securities 5,927 5,927 — — Corporate debt securities 14,569 — 14,569 — Restricted cash equivalents 71 71 — — Other assets 160 — — 160 Total $ 40,921 $ 25,882 $ 14,879 $ 160 We classify our cash equivalents and marketable debt securities within Level 1 or Level 2 because we use quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair value. Our marketable equity securities are publicly traded stocks measured at fair value and classified within Level 1 or Level 3 in the fair value hierarchy because we use quoted prices for identical assets in active markets or use significant unobservable inputs to estimate their fair value. Certain other assets are classified within Level 3 because factors used to develop the estimated fair value are unobservable inputs that are not supported by market activity. 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 within Level 3 during the six months ended June 30, 2022 were not material. As of December 31, 2021, included in the total $6.78 billion of non-marketable equity securities, $913 million was remeasured at fair value during the year ended December 31, 2021 and was classified within Level 3 of the fair value measurement hierarchy on a non-recurring basis. The gains and losses that resulted from the remeasurements were not material for the three and six months ended June 30, 2022 and 2021, respectively. For additional information, see Note 5 — Non-marketable Equity Securities.

Property and Equipment

Property and Equipment	6 Months Ended
Property and Equipment	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net consists of the following (in millions): June 30, 2022 December 31, 2021 Land $ 1,703 $ 1,688 Servers and network assets 28,996 25,584 Buildings 23,946 22,531 Leasehold improvements 6,126 5,795 Equipment and other 5,147 4,764 Finance lease right-of-use assets 3,004 2,840 Construction in progress 21,100 14,687 Property and equipment, gross 90,022 77,889 Less: Accumulated depreciation (22,434) (20,080) Property and equipment, net $ 67,588 $ 57,809 Construction in progress includes costs mostly related to construction of data centers, network infrastructure, servers, and office facilities. Depreciation expense on property and equipment was $1.93 billion and $1.86 billion for the three months ended June 30, 2022 and 2021, respectively, and $4.04 billion and $3.72 billion for the six months ended June 30, 2022 and 2021, respectively. In the three months ended June 30, 2022, we extended the estimated useful lives of a majority of the servers and network assets. See Note 1 — Summary of Significant Accounting Policies - Use of Estimates.

Leases

Leases	6 Months Ended
Leases	Jun. 30, 2022
Leases [Abstract]
Leases	Leases We have entered into various non-cancelable operating lease agreements mostly for our offices, data centers, colocations, and land. We have also entered into various non-cancelable finance lease agreements mostly for certain network infrastructure. Our leases have original lease periods expiring between the remainder of 2022 and 2093. Many leases include one or more options to renew. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured. Our lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. The components of lease costs are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Finance lease cost Amortization of right-of-use assets $ 95 $ 83 $ 193 $ 164 Interest 4 4 8 7 Operating lease cost 435 371 846 733 Variable lease cost and other, net 86 59 176 126 Total lease cost $ 620 $ 517 $ 1,223 $ 1,030 Supplemental balance sheet information related to leases is as follows: June 30, 2022 December 31, 2021 Weighted-average remaining lease term Finance leases 13.9 years 13.9 years Operating leases 12.9 years 13.0 years Weighted-average discount rate Finance leases 2.7 % 2.7 % Operating leases 2.9 % 2.8 % The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2022 (in millions): Operating Leases Finance Leases The remainder of 2022 $ 732 $ 60 2023 1,752 70 2024 1,843 52 2025 1,606 48 2026 1,551 49 Thereafter 12,424 452 Total undiscounted cash flows 19,908 731 Less: Imputed interest (3,841) (119) Present value of lease liabilities $ 16,067 $ 612 Lease liabilities, current $ 1,275 $ 78 Lease liabilities, non-current 14,792 534 Present value of lease liabilities $ 16,067 $ 612 The table above does not include lease payments that were not fixed at commencement or lease modification. As of June 30, 2022, we have additional operating and finance leases, that have not yet commenced, with lease obligations of approximately $8.58 billion and $1.63 billion, respectively, mostly for data centers, offices, and network infrastructure. These operating and finance leases will commence between the remainder of 2022 and 2028 with lease terms of greater than one year to 30 years. Supplemental cash flow information related to leases is as follows (in millions): Six Months Ended June 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 779 $ 682 Operating cash flows for finance leases $ 8 $ 7 Financing cash flows for finance leases $ 452 $ 274 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 3,073 $ 1,941 Finance leases $ 103 $ 70
Leases	Leases We have entered into various non-cancelable operating lease agreements mostly for our offices, data centers, colocations, and land. We have also entered into various non-cancelable finance lease agreements mostly for certain network infrastructure. Our leases have original lease periods expiring between the remainder of 2022 and 2093. Many leases include one or more options to renew. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured. Our lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. The components of lease costs are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Finance lease cost Amortization of right-of-use assets $ 95 $ 83 $ 193 $ 164 Interest 4 4 8 7 Operating lease cost 435 371 846 733 Variable lease cost and other, net 86 59 176 126 Total lease cost $ 620 $ 517 $ 1,223 $ 1,030 Supplemental balance sheet information related to leases is as follows: June 30, 2022 December 31, 2021 Weighted-average remaining lease term Finance leases 13.9 years 13.9 years Operating leases 12.9 years 13.0 years Weighted-average discount rate Finance leases 2.7 % 2.7 % Operating leases 2.9 % 2.8 % The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2022 (in millions): Operating Leases Finance Leases The remainder of 2022 $ 732 $ 60 2023 1,752 70 2024 1,843 52 2025 1,606 48 2026 1,551 49 Thereafter 12,424 452 Total undiscounted cash flows 19,908 731 Less: Imputed interest (3,841) (119) Present value of lease liabilities $ 16,067 $ 612 Lease liabilities, current $ 1,275 $ 78 Lease liabilities, non-current 14,792 534 Present value of lease liabilities $ 16,067 $ 612 The table above does not include lease payments that were not fixed at commencement or lease modification. As of June 30, 2022, we have additional operating and finance leases, that have not yet commenced, with lease obligations of approximately $8.58 billion and $1.63 billion, respectively, mostly for data centers, offices, and network infrastructure. These operating and finance leases will commence between the remainder of 2022 and 2028 with lease terms of greater than one year to 30 years. Supplemental cash flow information related to leases is as follows (in millions): Six Months Ended June 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 779 $ 682 Operating cash flows for finance leases $ 8 $ 7 Financing cash flows for finance leases $ 452 $ 274 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 3,073 $ 1,941 Finance leases $ 103 $ 70

Acquisitions, Goodwill and Inta

Acquisitions, Goodwill and Intangible Assets	6 Months Ended
Acquisitions, Goodwill and Intangible Assets	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisitions, Goodwill and Intangible Assets	Acquisitions, Goodwill, and Intangible Assets During the six months ended June 30, 2022, we completed several business acquisitions with total cash consideration transferred of $1.15 billion, which in aggregate was allocated to $291 million of intangible assets, $1.07 billion of goodwill, and $211 million of net liabilities assumed. Goodwill generated from all business acquisitions completed was primarily attributable to expected synergies and potential monetization opportunities. The amount of goodwill generated that was deductible for tax purposes was not material. Acquisition-related costs were immaterial and were expensed as incurred. Pro forma historical results of operations related to these business acquisitions have not been presented because they are not material to our condensed consolidated financial statements, either individually or in aggregate. We have included the financial results of these acquired businesses in our condensed consolidated financial statements from their respective dates of acquisition. Changes in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2022 are as follows (in millions): Family of Apps Reality Labs Total Goodwill at December 31, 2021 $ 18,458 $ 739 $ 19,197 Acquisitions 773 301 1,074 Adjustments — (42) (42) Goodwill at June 30, 2022 $ 19,231 $ 998 $ 20,229 The following table sets forth the major categories of the intangible assets and the weighted‑average remaining useful lives for those assets that are not already fully amortized (in millions): June 30, 2022 December 31, 2021 Weighted-Average Remaining Useful Lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired technology 5.3 $ 630 $ (225) $ 405 $ 1,412 $ (1,169) $ 243 Acquired patents 3.0 390 (301) 89 827 (722) 105 Trade names 3.9 23 (3) 20 644 (633) 11 Other 9.8 98 (18) 80 176 (167) 9 Total finite-lived assets 1,141 (547) 594 3,059 (2,691) 368 Total indefinite-lived assets N/A 371 — 371 266 — 266 Total intangible assets $ 1,512 $ (547) $ 965 $ 3,325 $ (2,691) $ 634 Amortization expense of intangible assets was $53 million and $122 million for the three months ended June 30, 2022 and 2021, respectively, and $93 million and $240 million for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in millions): The remainder of 2022 $ 99 2023 146 2024 118 2025 76 2026 35 Thereafter 120 Total $ 594

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Guarantee In 2018, we established a multi-currency notional cash pool for certain of our entities with a third-party bank provider. Actual cash balances are not physically converted and are not commingled between participating legal entities. As part of the notional cash pool agreement, the bank extends overdraft credit to our participating entities as needed, provided that the overall notionally pooled balance of all accounts in the pool at the end of each day is at least zero. In the unlikely event of a default by our collective entities participating in the pool, any overdraft balances incurred would be guaranteed by Meta Platforms, Inc. Contractual Commitments We have $24.16 billion of non-cancelable contractual commitments as of June 30, 2022, which are primarily related to our investments in servers, network infrastructure, and consumer hardware products in Reality Labs. The following is a schedule, by years, of non-cancelable contractual commitments as of June 30, 2022 (in millions): The remainder of 2022 $ 11,777 2023 7,633 2024 1,465 2025 425 2026 295 Thereafter 2,565 Total $ 24,160 Additionally, as part of the normal course of business, we have entered into multi-year agreements to purchase renewable energy that do not specify a fixed or minimum volume commitment or to purchase certain server components that do not specify a fixed or minimum price commitment. We enter into these agreements in order to secure either volume or price. Using the projected market prices or expected volume consumption, the total estimated spend as of June 30, 2022 is approximately $8.84 billion, the majority of which is due beyond five years. The ultimate spend under these agreements may vary and will be based on prevailing market prices or actual volume purchased. Subsequent to June 30, 2022, we entered into a purchase commitment for the next three years in the amount of approximately $1.5 billion to support our investments in technical infrastructure. Legal and Related Matters Beginning on March 20, 2018, multiple putative class actions and derivative actions were filed in state and federal courts in the United States and elsewhere against us and certain of our directors and officers alleging violations of securities laws, breach of fiduciary duties, and other causes of action in connection with our platform and user data practices as well as the misuse of certain data by a developer that shared such data with third parties in violation of our terms and policies, and seeking unspecified damages and injunctive relief. Beginning on July 27, 2018, two putative class actions were filed in federal court in the United States against us and certain of our directors and officers alleging violations of securities laws in connection with the disclosure of our earnings results for the second quarter of 2018 and seeking unspecified damages. These two actions subsequently were transferred and consolidated in the U.S. District Court for the Northern District of California with the putative securities class action described above relating to our platform and user data practices. On September 25, 2019, the district court granted our motion to dismiss the consolidated putative securities class action, with leave to amend. On November 15, 2019, a second amended complaint was filed in the consolidated putative securities class action. On August 7, 2020, the district court granted our motion to dismiss the second amended complaint, with leave to amend. On October 16, 2020, a third amended complaint was filed in the consolidated putative securities class action. On December 20, 2021, the district court granted our motion to dismiss the third amended complaint, with prejudice. On January 17, 2022, the plaintiffs filed a notice of appeal of the order dismissing their case, and the appeal is now pending before the U.S. Court of Appeals for the Ninth Circuit. With respect to the multiple putative class actions filed against us beginning on March 20, 2018 alleging fraud and violations of consumer protection, privacy, and other laws in connection with the same matters, several of the cases brought on behalf of consumers in the United States were consolidated in the U.S. District Court for the Northern District of California. On September 9, 2019, the court granted, in part, and denied, in part, our motion to dismiss the consolidated putative consumer class action. Fact discovery is scheduled to close on September 16, 2022, and the plaintiffs' motion for class certification is scheduled to be heard on May 23, 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 Chancery Court against certain of our directors and officers asserting breach of fiduciary duty and related claims relating to our historical platform and user data practices, as well as our settlement with the FTC. On July 20, 2021, other stockholders filed an amended derivative complaint in a related Delaware Chancery Court action, asserting breach of fiduciary duty and related claims against certain of our current and former directors and officers in connection with our historical platform and user data practices. On November 4, 2021, the lead plaintiffs filed a second amended and consolidated complaint in the stockholder derivative action. We believe the lawsuits described above are without merit, and we are vigorously defending them. We also notify the Irish Data Protection Commission (IDPC), our lead European Union privacy regulator under the General Data Protection Regulation (GDPR), of certain other personal data breaches and privacy issues, and are subject to inquiries and investigations by the IDPC and other European regulators regarding various aspects of our regulatory compliance. The GDPR is still a relatively new law and draft decisions in investigations by the IDPC are subject to review by other European privacy regulators as part of the GDPR's consistency mechanism, 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 in the aggregate. 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. Beginning on October 27, 2021, multiple putative class actions and derivative actions were filed in the U.S. District Court for the Northern District of California against us and certain of our directors and officers alleging violations of securities laws, breach of fiduciary duties, and other causes of action in connection with the same matters, and seeking unspecified damages. We believe these lawsuits are without merit, and we are vigorously defending them. On March 8, 2022, a putative class action was filed in the U.S. District Court for the Northern District of California against us and certain of our directors and officers alleging violations of securities laws in connection with the disclosure of our earnings results for the fourth quarter of 2021 and seeking unspecified damages. We believe this lawsuit is without merit, and we are vigorously defending it. Beginning on August 15, 2018, multiple putative class actions were filed against us alleging that we inflated our estimates of the potential audience size for advertisements, resulting in artificially increased demand and higher prices. The cases were consolidated in the U.S. District Court for the Northern District of California and seek unspecified damages and injunctive relief. In a series of rulings in 2019, 2021, and 2022, the court dismissed certain of the plaintiffs' claims, but permitted its fraud and unfair competition claims to proceed. On March 29, 2022, the court granted the plaintiffs' motion for class certification. On June 21, 2022, the U.S. Court of Appeals for the Ninth Circuit granted our petition for permission to appeal the district court's class certification order, and the district court subsequently stayed the case. We believe this lawsuit is without merit, and we are vigorously defending it. 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. With respect to the cases, actions, and inquiries described above, we evaluate the associated developments on a regular basis and accrue a liability when we believe a loss is probable and the amount can be reasonably estimated. In addition, we believe there is a reasonable possibility that we may incur a loss in some of these matters. With respect to the matters described above 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. For example, we are subject to various litigation and government inquiries and investigations, formal or informal, by competition authorities in the United States, Europe, and other jurisdictions. Such investigations, inquiries, and lawsuits concern, among other things, our business practices in the areas of social networking or social media services, digital advertising, and/or mobile or online applications, as well as our acquisitions. For example, in June 2019 we were informed by the FTC that it had opened an antitrust investigation of our company. On December 9, 2020, the FTC filed a complaint against us in the U.S. District Court for the District of Columbia alleging that we engaged in anticompetitive conduct and unfair methods of competition in violation of Section 5 of the Federal Trade Commission Act and Section 2 of the Sherman Act, including by acquiring Instagram in 2012 and WhatsApp in 2014 and by maintaining conditions on access to our platform. In addition, beginning in the third quarter of 2019, we became the subject of antitrust investigations by the U.S. Department of Justice and state attorneys general. On December 9, 2020, the attorneys general from 46 states, the territory of Guam, and the District of Columbia filed a complaint against us in the U.S. District Court for the District of Columbia alleging that we engaged in anticompetitive conduct in violation of Section 2 of the Sherman Act, including by acquiring Instagram in 2012 and WhatsApp in 2014 and by maintaining conditions on access to our platform. The complaint also alleged that we violated Section 7 of the Clayton Act by acquiring Instagram and WhatsApp. The complaints of the FTC and attorneys general both sought a permanent injunction against our company's alleged violations of the antitrust laws, and other equitable relief, including divestiture or reconstruction of Instagram and WhatsApp. On June 28, 2021, the court granted our motions to dismiss the complaints filed by the FTC and attorneys general, dismissing the FTC's complaint with leave to amend and dismissing the attorneys general's case without prejudice. On July 28, 2021, the attorneys general filed a notice of appeal of the order dismissing their case and that appeal is now pending before the U.S. Court of Appeals for the District of Columbia Circuit. On August 19, 2021, the FTC filed an amended complaint, and on October 4, 2021, we filed a motion to dismiss this amended complaint. On January 11, 2022, the court denied our motion to dismiss the FTC's amended complaint. Multiple putative class actions have also been filed in state and federal courts in the United States and in the United Kingdom against us alleging violations of antitrust laws and other causes of action in connection with these acquisitions and/or other alleged anticompetitive conduct, and seeking damages and injunctive relief. Several of the cases brought on behalf of certain advertisers and users in the United States were consolidated in the U.S. District Court for the Northern District of California. On January 14, 2022, the court granted, in part, and denied, in part, our motion to dismiss the consolidated actions. On March 1, 2022, a first amended consolidated complaint was filed in the putative class action brought on behalf of certain advertisers. We believe these lawsuits are without merit, and we are vigorously defending them. In addition, on July 27, 2022, the FTC filed a complaint against us in the U.S. District Court for the Northern District of California seeking to enjoin our proposed acquisition of Within Unlimited as an alleged violation of antitrust law. 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 12 — Income Taxes. Indemnifications In the normal course of business, to facilitate transactions of services and products, we have agreed to indemnify certain parties with respect to certain matters. We have agreed to hold certain parties harmless against losses arising from a breach of representations or covenants, or out of intellectual property infringement or other claims made by third parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, we have entered into indemnification agreements with our officers, directors, and certain employees, and our certificate of incorporation and bylaws contain similar indemnification obligations. It is not possible to determine the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by us under these agreements have not had a material impact on our condensed consolidated financial statements. In our opinion, as of June 30, 2022, there was not a reasonable possibility we had incurred a material loss with respect to indemnification of such parties. We have not recorded any liability for costs related to indemnification through June 30, 2022.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jun. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Share Repurchase Program Our board of directors has authorized a share repurchase program of our Class A common stock, which commenced in January 2017 and does not have an expiration date. As of December 31, 2021, $38.79 billion remained available and authorized for repurchases under this program. During the six months ended June 30, 2022, we repurchased and subsequently retired 60 million shares of our Class A common stock for an aggregate amount of $14.47 billion. As of June 30, 2022, $24.32 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, and shares may be repurchased through open market purchases or privately negotiated transactions, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. Share-based Compensation Plan We have one active share-based employee compensation plan, the 2012 Equity Incentive Plan, which was amended in each of June 2016 and February 2018 (Amended 2012 Plan). Our Amended 2012 Plan provides for the issuance of incentive and nonqualified stock options, restricted stock awards, stock appreciation rights, RSUs, performance shares, and stock bonuses to qualified employees, directors, and consultants. Shares that are withheld in connection with the net settlement of RSUs or forfeited are added to the reserves of the Amended 2012 Plan. Effective January 1, 2022, there were 136 million shares of our Class A common stock reserved for future issuance under our Amended 2012 Plan. Pursuant to the automatic increase provision under our Amended 2012 Plan, the number of shares reserved for issuance increases automatically on January 1 of each of the calendar years during the term of the Amended 2012 Plan, which will continue through April 2026, by a number of shares of Class A common stock equal to the lesser of (i) 2.5% of the total issued and outstanding shares of our Class A common stock as of the immediately preceding December 31st or (ii) a number of shares determined by our board of directors. The following table summarizes the activities for our unvested RSUs for the six months ended June 30, 2022: Number of Shares Weighted-Average Grant Date Fair Value Per Share (in thousands) Unvested at December 31, 2021 98,848 $ 244.32 Granted 83,867 $ 208.24 Vested (25,014) $ 220.46 Forfeited (8,515) $ 233.14 Unvested at June 30, 2022 149,186 $ 228.67 The fair value as of the respective vesting dates of RSUs that vested during the three months ended June 30, 2022 and 2021 was $2.75 billion and $3.65 billion, respectively, and $5.18 billion and $6.48 billion during the six months ended June 30, 2022 and 2021, respectively. The income tax benefit recognized related to awards vested during the three months ended June 30, 2022 and 2021 was $582 million and $781 million, respectively, and $1.10 billion and $1.39 billion during the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, there was $32.42 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.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our tax provision for interim periods is determined using an estimated annual effective tax rate, adjusted for discrete items arising in that quarter. In each quarter, we update the estimated annual effective tax rate and make a year-to-date adjustment to the provision. The estimated annual effective tax rate is subject to significant volatility due to several factors, including our ability to accurately predict the proportion of our income (loss) before provision for income taxes in multiple jurisdictions, the U.S. tax benefits from foreign derived intangible income, the effects of tax law changes, the effects of acquisitions, and the integration of those acquisitions. Our gross unrecognized tax benefits were $10.05 billion and $9.81 billion on June 30, 2022 and December 31, 2021, respectively. These unrecognized tax benefits were primarily accrued for the uncertainties related to transfer pricing with our foreign subsidiaries, which include licensing of intellectual property, providing services and other transactions, as well as for uncertainties with our research tax credits. If the gross unrecognized tax benefits as of June 30, 2022 were realized in a future period, this would result in a tax benefit of $6.02 billion within our provision of income taxes at such time. The amount of interest and penalties accrued was $948 million and $960 million as of June 30, 2022 and December 31, 2021, respectively. We expect to continue to accrue unrecognized tax benefits for certain recurring tax positions. We are subject to taxation in the United States and various other state and foreign jurisdictions. The material jurisdictions in which we are subject to potential examination include the United States and Ireland. We are under examination by the Internal Revenue Service (IRS) for our 2014 through 2019 tax years. Our 2020 and subsequent tax years remain open to examination by the IRS and the Irish Revenue Commissioners. In July 2016, we received a Statutory Notice of Deficiency (Notice) from the IRS related to transfer pricing with our foreign subsidiaries in conjunction with the examination of the 2010 tax year. While the Notice applies only to the 2010 tax year, the IRS stated that it will also apply its position for tax years subsequent to 2010 and has done so in years covered by the second Notice described below. We do not agree with the 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 a second session commenced in October 2021. Based on the information provided, we believe that, if the IRS prevails in its updated position, this could result in an additional federal tax liability of an estimated, aggregate amount of up to approximately $9.0 billion in excess of the amounts in our originally filed U.S. return, plus interest and any penalties asserted. In March 2018, we received a second Notice from the IRS in conjunction with the examination of our 2011 through 2013 tax years. The IRS applied its position from the 2010 tax year to each of these years and also proposed new adjustments related to other transfer pricing with our foreign subsidiaries and certain tax credits that we claimed. If the IRS prevails in its position for these new adjustments, this could result in an additional federal tax liability of up to approximately $680 million in excess of the amounts in our originally filed U.S. returns, plus interest and any penalties asserted. We do not agree with the positions of the IRS in the second Notice and have filed a petition in the Tax Court challenging the second Notice. We have previously accrued an estimated unrecognized tax benefit consistent with the guidance in ASC 740, Income Taxes (ASC 740), that is lower than the potential additional federal tax liability from the positions taken by the IRS in the two Notices and its Pretrial Memorandum . In addition, if the IRS prevails in its positions related to transfer pricing with our foreign subsidiaries, the additional tax that we would owe would be partially offset by a reduction in the tax that we owe under the mandatory transition tax on accumulated foreign earnings from the 2017 Tax Cuts and Jobs Act . As of June 30, 2022, we have not resolved these matters and proceedings continue in the Tax Court. We believe that adequate amounts have been reserved in accordance with ASC 740 for any adjustments to the provision for income taxes or other tax items that may ultimately result from these examinations. The timing of the resolution, settlement, and closure of any audits is highly uncertain, and it is reasonably possible that the balance of gross unrecognized tax benefits could significantly change in the next 12 months. Given the number of years remaining that are subject to examination, we are unable to estimate the full range of possible adjustments to the balance of gross unrecognized tax benefits. If the taxing authorities prevail in the assessment of additional tax due, the assessed tax, interest, and penalties, if any, could have a material adverse impact on our financial position, results of operations, and cash flows.

Segments and Geographical Infor

Segments and Geographical Information	6 Months Ended
Segments and Geographical Information	Jun. 30, 2022
Segments, Geographical Areas [Abstract]
Segments and Geographical Information	Segment and Geographical Information We report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes augmented and virtual reality related consumer hardware, software, and content. Our operating segments are the same as our reportable segments. Our Chief Executive Officer is our chief operating decision maker (CODM), who allocates resources to and assesses the performance of each operating segment using information about the operating segment's revenue and income (loss) from operations. Our CODM does not evaluate operating segments using asset or liability information. Revenue and costs and expenses are generally directly attributed to our segments. These costs and expenses include certain product development related operating expenses, costs associated with partnership arrangements, consumer hardware product costs, content costs, and legal-related costs. Indirect costs are allocated to segments based on a reasonable allocation methodology, when such costs are significant to the performance measures of the operating segments. Indirect cost of revenue is allocated to our segments based on usage, such as costs related to the operation of our data centers and technical infrastructure. Indirect operating expenses, such as facilities, information technology, certain shared research and development activities, recruiting, and physical security expenses, are mostly allocated based on headcount. The following table sets forth our segment information of revenue and income (loss) from operations (in millions). For comparative purposes, amounts in the prior periods have been recast: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue: Family of Apps $ 28,370 $ 28,772 $ 55,583 $ 54,409 Reality Labs 452 305 1,146 839 Total revenue $ 28,822 $ 29,077 $ 56,729 $ 55,248 Income (loss) from operations: Family of Apps $ 11,164 $ 14,799 $ 22,647 $ 28,004 Reality Labs (2,806) (2,432) (5,766) (4,259) Total income from operations $ 8,358 $ 12,367 $ 16,881 $ 23,745 For information regarding revenue disaggregated by geography, see Note 2 — Revenue. The following table sets forth our long-lived assets by geographic area, which consist of property and equipment, net and operating lease right-of-use assets (in millions): June 30, 2022 December 31, 2021 United States $ 67,040 $ 55,497 Rest of the world (1) 14,678 14,467 Total long-lived assets $ 81,718 $ 69,964 ____________________________________ (1) No individual country, other than disclosed above, exceeded 10% of our total long-lived assets for any period presented.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated fi nancial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2021. The condensed consolidated balance sheet as of December 31, 2021 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, 2022.
Use of Estimates	Use of Estimates Preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and judgments that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments we make about the carrying values of our assets and liabilities, which are not readily apparent from other sources. We base our estimates and judgments on historical information and on various other assumptions that we believe are reasonable under the circumstances. GAAP requires us to make estimates and judgments in several areas, including, but not limited to, those related to revenue recognition, valuation of non-marketable equity securities, income taxes, loss contingencies, including the ultimate resolution of litigation, regulatory matters, and asserted and unasserted claims, valuation of long-lived assets including goodwill, intangible assets, and property and equipment, and their associated estimated useful lives, valuation of purchase commitments, credit losses of available-for-sale debt securities and accounts receivable, fair value of financial instruments, and leases. These estimates are based on management's knowledge about current events, interpretations of regulations, and expectations about actions we may undertake in the future. Actual results could differ materially from those estimates. In connection with our periodic reviews of the estimated useful lives of property and equipment, we extended the estimated average useful lives of a majority of the servers and network assets from four years to 4.5 years, effective the second quarter of 2022, as a result of expected longer refresh cycles in our data centers. The financial impact of this change in estimate was a reduction in depreciation expense of $252 million and an increase in net income of $206 million, or $0.08 per diluted share for the three months ended June 30, 2022. The impact from the change in our estimates was calculated based on the servers and network assets existing as of the effective date of the change and applying the revised estimated useful lives prospectively.
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, 2021.
Recent Accounting Pronouncements Adopted and Not Yet Adopted	Recently Adopted Accounting Pronouncements On January 1, 2022, we early adopted Accounting Standards Update (ASU) No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08), which clarifies that an acquirer of a business should recognize and measure contract assets and contract liabilities in a business combination in accordance with Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (Topic 606) . The adoption of this new standard did not have a material impact on our condensed consolidated financial statements. Accounting Pronouncements Not Yet Adopted In November 2021, the Financial Accounting Standards Board (FASB) issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosure by Business Entities about Government Assistance (ASU 2021-10), which requires the disclosure of government assistance received by most business entities relating to: (1) the types of government assistance received; (2) the accounting for such assistance; and (3) the effect of the assistance on a business entity's financial statements. This guidance will be effective for our annual financial statements for the year ended December 31, 2022. We are currently evaluating the impact of the new guidance on our consolidated financial statements. In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurements (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (ASU 2022-03), which clarifies and amends the guidance of measuring the fair value of equity securities subject to contractual restrictions that prohibit the sale of the equity securities. The adoption of this new standard will not have a material impact on our condensed consolidated financial statements.
Earnings Per Share	We compute earnings per share (EPS) of Class A and Class B common stock using the two-class method. As the liquidation and dividend rights for both Class A and Class B common stock are identical, the undistributed earnings are allocated on a proportionate basis to the weighted-average number of common shares outstanding for the period. Basic EPS is computed by dividing net income by the weighted-average number of shares of our Class A and Class B common stock outstanding. For the calculation of diluted EPS, net income for basic EPS is adjusted by the effect of dilutive securities, including awards under our equity compensation plan. In addition, the computation of the diluted EPS of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted EPS of Class B common stock does not assume the conversion of those shares to Class A common stock. Diluted EPS is computed by dividing the resulting net income by the weighted-average number of fully diluted common shares outstanding.
Commitments and Contingencies	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.
Segment Reporting	We report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes augmented and virtual reality related consumer hardware, software, and content. Our operating segments are the same as our reportable segments. Our Chief Executive Officer is our chief operating decision maker (CODM), who allocates resources to and assesses the performance of each operating segment using information about the operating segment's revenue and income (loss) from operations. Our CODM does not evaluate operating segments using asset or liability information. Revenue and costs and expenses are generally directly attributed to our segments. These costs and expenses include certain product development related operating expenses, costs associated with partnership arrangements, consumer hardware product costs, content costs, and legal-related costs. Indirect costs are allocated to segments based on a reasonable allocation methodology, when such costs are significant to the performance measures of the operating segments. Indirect cost of revenue is allocated to our segments based on usage, such as costs related to the operation of our data centers and technical infrastructure. Indirect operating expenses, such as facilities, information technology, certain shared research and development activities, recruiting, and physical security expenses, are mostly allocated based on headcount.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
Revenue (Tables)	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenue disaggregated by revenue source and by segment consists of the following (in millions). For comparative purposes, amounts in the prior periods have been recast: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Advertising $ 28,152 $ 28,580 $ 55,150 $ 54,018 Other revenue 218 192 433 391 Family of Apps 28,370 28,772 55,583 54,409 Reality Labs 452 305 1,146 839 Total revenue $ 28,822 $ 29,077 $ 56,729 $ 55,248 Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 United States and Canada (1) $ 12,186 $ 12,612 $ 23,965 $ 24,048 Europe (2) 6,650 7,220 13,288 13,604 Asia-Pacific 6,960 6,677 13,682 12,778 Rest of World (2) 3,026 2,568 5,794 4,818 Total revenue $ 28,822 $ 29,077 $ 56,729 $ 55,248 ____________________________________ (1) United States revenue was $11.43 billion and $11.82 billion for the three months ended June 30, 2022 and 2021, respectively, and $22.52 billion and $22.57 billion for the six months ended June 30, 2022 and 2021, respectively. (2) Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
Earnings per Share (Tables)	Jun. 30, 2022
Earnings Per Share [Abstract]
Numerators and Denominators of Basic and Diluted EPS Computations for Common Stock	The numerators and denominators of the basic and diluted EPS computations for our common stock are calculated as follows (in millions, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Class A Class B Class A Class B Class A Class B Class A Class B Basic EPS: Numerator Net income $ 5,673 $ 1,014 $ 8,785 $ 1,609 $ 12,009 $ 2,143 $ 16,810 $ 3,082 Denominator Shares used in computation of basic earnings per share 2,294 410 2,395 439 2,303 411 2,401 440 Basic EPS $ 2.47 $ 2.47 $ 3.67 $ 3.67 $ 5.21 $ 5.21 $ 7.00 $ 7.00 Diluted EPS: Numerator Net income $ 5,673 $ 1,014 $ 8,785 $ 1,609 $ 12,009 $ 2,143 $ 16,810 $ 3,082 Reallocation of net income as a result of conversion of Class B to Class A common stock 1,014 — 1,609 — 2,143 — 3,082 — Reallocation of net income to Class B common stock — (4) — (24) — (11) — (44) Net income for diluted EPS $ 6,687 $ 1,010 $ 10,394 $ 1,585 $ 14,152 $ 2,132 $ 19,892 $ 3,038 Denominator Shares used in computation of basic earnings per share 2,294 410 2,395 439 2,303 411 2,401 440 Conversion of Class B to Class A common stock 410 — 439 — 411 — 440 — Weighted-average effect of dilutive RSUs 9 — 43 — 15 — 40 — Shares used in computation of diluted earnings per share 2,713 410 2,877 439 2,729 411 2,881 440 Diluted EPS $ 2.46 $ 2.46 $ 3.61 $ 3.61 $ 5.19 $ 5.19 $ 6.90 $ 6.90

Cash, Cash Equivalents, Marke_2

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash (Tables)	6 Months Ended
	Jun. 30, 2022
Cash and Cash Equivalents and Marketable Securities [Abstract]
Cash and Cash Equivalents, Marketable Securities, and Restricted Cash	The following table sets forth the cash, cash equivalents, and marketable securities by major security type, and restricted cash (in millions): June 30, 2022 December 31, 2021 Cash and cash equivalents: Cash $ 6,322 $ 7,308 Money market funds 3,879 8,850 U.S. government securities 624 25 U.S. government agency securities 1,122 108 Certificates of deposit and time deposits 356 250 Corporate debt securities 378 60 Total cash and cash equivalents 12,681 16,601 Marketable securities: Marketable debt securities: U.S. government securities 9,252 10,901 U.S. government agency securities 5,095 5,927 Corporate debt securities 13,336 14,569 Total marketable debt securities 27,683 31,397 Marketable equity securities 125 — Total marketable securities 27,808 31,397 Restricted cash: Restricted cash included in prepaid expenses and other current assets 228 149 Restricted cash included in other assets 569 115 Total restricted cash 797 264 Total cash, cash equivalents, marketable securities, and restricted cash $ 41,286 $ 48,262
Available-for-sale Marketable Securities	The following table summarizes our available-for-sale marketable debt securities and cash equivalents with unrealized losses as of June 30, 2022, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions): June 30, 2022 Less than 12 months 12 months or greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. government securities $ 8,599 $ (301) $ 212 $ (13) $ 8,811 $ (314) U.S. government agency securities 4,414 (132) 1,744 (131) 6,158 (263) Corporate debt securities 12,200 (700) 666 (53) 12,866 (753) Total $ 25,213 $ (1,133) $ 2,622 $ (197) $ 27,835 $ (1,330)
Marketable Securities by Contractual Maturities	The following table classifies our marketable debt securities by contractual maturities (in millions): June 30, 2022 Due within one year $ 3,276 Due after one year to five years 24,407 Total $ 27,683

Non-marketable Equity Securit_2

Non-marketable Equity Securities (Tables)	6 Months Ended
Non-marketable Equity Securities (Tables)	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Carrying Value of Nonmarketable Equity Securities	Our non-marketable equity securities are investments in privately-held companies without readily determinable fair values. The following table summarizes our non-marketable equity securities that were measured using measurement alternative and equity method (in millions): June 30, 2022 December 31, 2021 Non-marketable equity securities under measurement alternative: Initial cost $ 6,385 $ 6,480 Cumulative upward adjustments 293 311 Cumulative impairment/downward adjustments (176) (50) Carrying value 6,502 6,741 Non-marketable equity securities under equity method 34 34 Total $ 6,536 $ 6,775 As of June 30, 2022, we had $264 million of equity investment in Giphy. Due to regulatory restrictions, we do not control or exercise significant influence over Giphy. Based on the future outcome of developments with regulatory authorities, we may not be able to recover our carrying value in the event of a divestiture.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value	The following table summarizes our assets measured at fair value on a recurring basis and the classification by level of input within the fair value hierarchy (in millions): Fair Value Measurement at Reporting Date Using Description June 30, 2022 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash equivalents: Money market funds $ 3,879 $ 3,879 $ — $ — U.S. government securities 624 624 — — U.S. government agency securities 1,122 1,122 — — Certificates of deposit and time deposits 356 — 356 — Corporate debt securities 378 — 378 — Marketable debt securities: U.S. government securities 9,252 9,252 — — U.S. government agency securities 5,095 5,095 — — Corporate debt securities 13,336 — 13,336 — Marketable equity securities 125 5 — 120 Restricted cash equivalents 448 448 — — Other assets 194 — — 194 Total $ 34,809 $ 20,425 $ 14,070 $ 314 Fair Value Measurement at Reporting Date Using Description December 31, 2021 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash equivalents: Money market funds $ 8,850 $ 8,850 $ — $ — U.S. government securities 25 25 — — U.S. government agency securities 108 108 — — Certificates of deposit and time deposits 250 — 250 — Corporate debt securities 60 — 60 — Marketable debt securities: U.S. government securities 10,901 10,901 — — U.S. government agency securities 5,927 5,927 — — Corporate debt securities 14,569 — 14,569 — Restricted cash equivalents 71 71 — — Other assets 160 — — 160 Total $ 40,921 $ 25,882 $ 14,879 $ 160

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
Property and Equipment (Tables)	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment, net consists of the following (in millions): June 30, 2022 December 31, 2021 Land $ 1,703 $ 1,688 Servers and network assets 28,996 25,584 Buildings 23,946 22,531 Leasehold improvements 6,126 5,795 Equipment and other 5,147 4,764 Finance lease right-of-use assets 3,004 2,840 Construction in progress 21,100 14,687 Property and equipment, gross 90,022 77,889 Less: Accumulated depreciation (22,434) (20,080) Property and equipment, net $ 67,588 $ 57,809

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jun. 30, 2022
Leases [Abstract]
Components of Lease Costs	The components of lease costs are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Finance lease cost Amortization of right-of-use assets $ 95 $ 83 $ 193 $ 164 Interest 4 4 8 7 Operating lease cost 435 371 846 733 Variable lease cost and other, net 86 59 176 126 Total lease cost $ 620 $ 517 $ 1,223 $ 1,030
Lease, Balance Sheet Information	Supplemental balance sheet information related to leases is as follows: June 30, 2022 December 31, 2021 Weighted-average remaining lease term Finance leases 13.9 years 13.9 years Operating leases 12.9 years 13.0 years Weighted-average discount rate Finance leases 2.7 % 2.7 % Operating leases 2.9 % 2.8 %
Finance Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2022 (in millions): Operating Leases Finance Leases The remainder of 2022 $ 732 $ 60 2023 1,752 70 2024 1,843 52 2025 1,606 48 2026 1,551 49 Thereafter 12,424 452 Total undiscounted cash flows 19,908 731 Less: Imputed interest (3,841) (119) Present value of lease liabilities $ 16,067 $ 612 Lease liabilities, current $ 1,275 $ 78 Lease liabilities, non-current 14,792 534 Present value of lease liabilities $ 16,067 $ 612
Operating Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2022 (in millions): Operating Leases Finance Leases The remainder of 2022 $ 732 $ 60 2023 1,752 70 2024 1,843 52 2025 1,606 48 2026 1,551 49 Thereafter 12,424 452 Total undiscounted cash flows 19,908 731 Less: Imputed interest (3,841) (119) Present value of lease liabilities $ 16,067 $ 612 Lease liabilities, current $ 1,275 $ 78 Lease liabilities, non-current 14,792 534 Present value of lease liabilities $ 16,067 $ 612
Lease, Cash Flow Information	Supplemental cash flow information related to leases is as follows (in millions): Six Months Ended June 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 779 $ 682 Operating cash flows for finance leases $ 8 $ 7 Financing cash flows for finance leases $ 452 $ 274 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 3,073 $ 1,941 Finance leases $ 103 $ 70

Acquisitions, Goodwill and In_2

Acquisitions, Goodwill and Intangible Assets (Tables)	6 Months Ended
Acquisitions, Goodwill and Intangible Assets (Tables)	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2022 are as follows (in millions): Family of Apps Reality Labs Total Goodwill at December 31, 2021 $ 18,458 $ 739 $ 19,197 Acquisitions 773 301 1,074 Adjustments — (42) (42) Goodwill at June 30, 2022 $ 19,231 $ 998 $ 20,229
Schedule of Finite-lived and Indefinite Lived Intangible Assets	The following table sets forth the major categories of the intangible assets and the weighted‑average remaining useful lives for those assets that are not already fully amortized (in millions): June 30, 2022 December 31, 2021 Weighted-Average Remaining Useful Lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired technology 5.3 $ 630 $ (225) $ 405 $ 1,412 $ (1,169) $ 243 Acquired patents 3.0 390 (301) 89 827 (722) 105 Trade names 3.9 23 (3) 20 644 (633) 11 Other 9.8 98 (18) 80 176 (167) 9 Total finite-lived assets 1,141 (547) 594 3,059 (2,691) 368 Total indefinite-lived assets N/A 371 — 371 266 — 266 Total intangible assets $ 1,512 $ (547) $ 965 $ 3,325 $ (2,691) $ 634
Expected Amortization Expense for Unamortized Acquired Intangible Assets	As of June 30, 2022, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in millions): The remainder of 2022 $ 99 2023 146 2024 118 2025 76 2026 35 Thereafter 120 Total $ 594

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	6 Months Ended
Commitment and Contingencies (Tables)	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contractual Commitments	The following is a schedule, by years, of non-cancelable contractual commitments as of June 30, 2022 (in millions): The remainder of 2022 $ 11,777 2023 7,633 2024 1,465 2025 425 2026 295 Thereafter 2,565 Total $ 24,160

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
Stockholders' Equity (Tables)	Jun. 30, 2022
Equity [Abstract]
Restricted Stock Units Award Activity	The following table summarizes the activities for our unvested RSUs for the six months ended June 30, 2022: Number of Shares Weighted-Average Grant Date Fair Value Per Share (in thousands) Unvested at December 31, 2021 98,848 $ 244.32 Granted 83,867 $ 208.24 Vested (25,014) $ 220.46 Forfeited (8,515) $ 233.14 Unvested at June 30, 2022 149,186 $ 228.67

Segments and Geographical Inf_2

Segments and Geographical Information (Tables)	6 Months Ended
Segments and Geographical Information (Tables)	Jun. 30, 2022
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). For comparative purposes, amounts in the prior periods have been recast: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue: Family of Apps $ 28,370 $ 28,772 $ 55,583 $ 54,409 Reality Labs 452 305 1,146 839 Total revenue $ 28,822 $ 29,077 $ 56,729 $ 55,248 Income (loss) from operations: Family of Apps $ 11,164 $ 14,799 $ 22,647 $ 28,004 Reality Labs (2,806) (2,432) (5,766) (4,259) Total income from operations $ 8,358 $ 12,367 $ 16,881 $ 23,745
Revenue and Property and Equipment by Geographic Area	The following table sets forth our long-lived assets by geographic area, which consist of property and equipment, net and operating lease right-of-use assets (in millions): June 30, 2022 December 31, 2021 United States $ 67,040 $ 55,497 Rest of the world (1) 14,678 14,467 Total long-lived assets $ 81,718 $ 69,964 ____________________________________ (1) No individual country, other than disclosed above, exceeded 10% of our total long-lived assets for any period presented.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment
Depreciation	$ (1,930)	$ (1,860)	$ (4,040)	$ (3,720)
Net income	$ 6,687	$ 10,394	$ 14,152	$ 19,892
Diluted (in dollars per share)	$ 2.46	$ 3.61	$ 5.19	$ 6.90
Change in Accounting Estimate
Property, Plant and Equipment
Depreciation	$ (252)
Net income	$ (206)
Diluted (in dollars per share)	$ 0.08
Servers and network assets \| Minimum
Property, Plant and Equipment
Estimated useful lives	4 years
Servers and network assets \| Maximum
Property, Plant and Equipment
Estimated useful lives	4 years 6 months

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 28,822	$ 29,077	$ 56,729	$ 55,248
United States and Canada
Disaggregation of Revenue [Line Items]
Revenue	12,186	12,612	23,965	24,048
Europe
Disaggregation of Revenue [Line Items]
Revenue	6,650	7,220	13,288	13,604
Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue	6,960	6,677	13,682	12,778
Rest of World
Disaggregation of Revenue [Line Items]
Revenue	3,026	2,568	5,794	4,818
United States
Disaggregation of Revenue [Line Items]
Revenue	11,430	11,820	22,520	22,570
Family of Apps
Disaggregation of Revenue [Line Items]
Revenue	28,370	28,772	55,583	54,409
Reality Labs
Disaggregation of Revenue [Line Items]
Revenue	452	305	1,146	839
Advertising \| Family of Apps
Disaggregation of Revenue [Line Items]
Revenue	28,152	28,580	55,150	54,018
Other revenue \| Family of Apps
Disaggregation of Revenue [Line Items]
Revenue	$ 218	$ 192	$ 433	$ 391

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Total deferred revenue balance	$ 549	$ 596
Deferred revenue, current	$ 482

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Restricted Stock Units (RSUs)
Earnings Per Share, Basic, by Common Class, Including Two Class Method
Shares excluded from EPS calc (in shares)	118	87

Earnings per Share - Basic and

Earnings per Share - Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator
Net income	$ 6,687	$ 10,394	$ 14,152	$ 19,892
Denominator
Shares used in computation of basic earnings per share (in shares)	2,704	2,834	2,714	2,841
Basic EPS (in dollars per share)	$ 2.47	$ 3.67	$ 5.21	$ 7
Numerator
Net income	$ 6,687	$ 10,394	$ 14,152	$ 19,892
Denominator
Shares used in computation of basic earnings per share (in shares)	2,704	2,834	2,714	2,841
Number of shares used for diluted EPS computation (in shares)	2,713	2,877	2,729	2,881
Diluted EPS (in dollars per share)	$ 2.46	$ 3.61	$ 5.19	$ 6.90
Class A Common Stock
Numerator
Net income	$ 5,673	$ 8,785	$ 12,009	$ 16,810
Denominator
Shares used in computation of basic earnings per share (in shares)	2,294	2,395	2,303	2,401
Basic EPS (in dollars per share)	$ 2.47	$ 3.67	$ 5.21	$ 7
Numerator
Net income	$ 5,673	$ 8,785	$ 12,009	$ 16,810
Reallocation of net income as a result of conversion of Class B to Class A common stock	1,014	1,609	2,143	3,082
Reallocation of net income to Class B common stock	0	0	0	0
Net income for diluted EPS	$ 6,687	$ 10,394	$ 14,152	$ 19,892
Denominator
Shares used in computation of basic earnings per share (in shares)	2,294	2,395	2,303	2,401
Conversion of Class B to Class A common stock (in shares)	410	439	411	440
Weighted average effect of dilutive RSUs (in shares)	9	43	15	40
Number of shares used for diluted EPS computation (in shares)	2,713	2,877	2,729	2,881
Diluted EPS (in dollars per share)	$ 2.46	$ 3.61	$ 5.19	$ 6.90
Class B Common Stock
Numerator
Net income	$ 1,014	$ 1,609	$ 2,143	$ 3,082
Denominator
Shares used in computation of basic earnings per share (in shares)	410	439	411	440
Basic EPS (in dollars per share)	$ 2.47	$ 3.67	$ 5.21	$ 7
Numerator
Net income	$ 1,014	$ 1,609	$ 2,143	$ 3,082
Reallocation of net income as a result of conversion of Class B to Class A common stock	0	0	0	0
Reallocation of net income to Class B common stock	(4)	(24)	(11)	(44)
Net income for diluted EPS	$ 1,010	$ 1,585	$ 2,132	$ 3,038
Denominator
Shares used in computation of basic earnings per share (in shares)	410	439	411	440
Conversion of Class B to Class A common stock (in shares)	0	0	0	0
Weighted average effect of dilutive RSUs (in shares)	0	0	0	0
Number of shares used for diluted EPS computation (in shares)	410	439	411	440
Diluted EPS (in dollars per share)	$ 2.46	$ 3.61	$ 5.19	$ 6.90

Cash, Cash Equivalents, Marke_3

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash - Breakout of Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Cash and Cash Equivalents, and Marketable Securities
Cash and cash equivalents	$ 12,681	$ 16,601	$ 16,186
Marketable debt securities	27,683	31,397
Marketable equity securities	125	0
Total marketable securities	27,808	31,397
Restricted cash	797	264
Total cash, cash equivalents, marketable securities, and restricted cash	41,286	48,262
Restricted cash included in prepaid expenses and other current assets
Cash and Cash Equivalents, and Marketable Securities
Restricted cash	228	149	201
Restricted cash included in other assets
Cash and Cash Equivalents, and Marketable Securities
Restricted cash	569	115	$ 124
U.S. government securities
Cash and Cash Equivalents, and Marketable Securities
Marketable debt securities	9,252	10,901
U.S. government agency securities
Cash and Cash Equivalents, and Marketable Securities
Marketable debt securities	5,095	5,927
Corporate debt securities
Cash and Cash Equivalents, and Marketable Securities
Marketable debt securities	13,336	14,569
Cash
Cash and Cash Equivalents, and Marketable Securities
Cash and cash equivalents	6,322	7,308
Money market funds
Cash and Cash Equivalents, and Marketable Securities
Cash and cash equivalents	3,879	8,850
U.S. government securities
Cash and Cash Equivalents, and Marketable Securities
Cash and cash equivalents	624	25
U.S. government agency securities
Cash and Cash Equivalents, and Marketable Securities
Cash and cash equivalents	1,122	108
Certificates of deposit and time deposits
Cash and Cash Equivalents, and Marketable Securities
Cash and cash equivalents	356	250
Corporate debt securities
Cash and Cash Equivalents, and Marketable Securities
Cash and cash equivalents	$ 378	$ 60

Cash, Cash Equivalents, Marke_4

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash - Available-for-sale Marketable Securities (Details) - Available-for-sale Securities $ in Millions	Jun. 30, 2022 USD ($)
Marketable Securities [Line Items]
Less than 12 months, Fair Value	$ 25,213
Less than 12 months, Unrealized Losses	(1,133)
12 months or greater, Fair Value	2,622
12 months or greater, Unrealized Losses	(197)
Fair Value	27,835
Unrealized losses	(1,330)
U.S. government securities
Marketable Securities [Line Items]
Less than 12 months, Fair Value	8,599
Less than 12 months, Unrealized Losses	(301)
12 months or greater, Fair Value	212
12 months or greater, Unrealized Losses	(13)
Fair Value	8,811
Unrealized losses	(314)
U.S. government agency securities
Marketable Securities [Line Items]
Less than 12 months, Fair Value	4,414
Less than 12 months, Unrealized Losses	(132)
12 months or greater, Fair Value	1,744
12 months or greater, Unrealized Losses	(131)
Fair Value	6,158
Unrealized losses	(263)
Corporate debt securities
Marketable Securities [Line Items]
Less than 12 months, Fair Value	12,200
Less than 12 months, Unrealized Losses	(700)
12 months or greater, Fair Value	666
12 months or greater, Unrealized Losses	(53)
Fair Value	12,866
Unrealized losses	$ (753)

Cash, Cash Equivalents, Marke_5

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash - Narrative (Details) $ in Millions	Jun. 30, 2022 USD ($)
Cash and Cash Equivalents and Marketable Securities [Abstract]
Gross unrealized loss on marketable securities	$ 1,330

Cash, Cash Equivalents, Marke_6

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash - Contractual Maturities of Marketable Debt Securities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Contractual Maturities of Marketable Securities
Due within one year	$ 3,276
Due after one year to five years	24,407
Total	$ 27,683	$ 31,397

Non-marketable Equity Securit_3

Non-marketable Equity Securities - Carrying Value of Equity Investments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Non-marketable Equity Securities [Line Items]
Initial cost	$ 6,385	$ 6,480
Cumulative upward adjustments	293	311
Cumulative impairment/downward adjustments	(176)	(50)
Carrying value	6,502	6,741
Non-marketable equity securities under equity method	34	34
Total	6,536	$ 6,775
Giphy
Non-marketable Equity Securities [Line Items]
Carrying value	$ 264

Fair Value Measurements - Asset

Fair Value Measurements - Assets Measured at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable debt securities:	$ 27,683	$ 31,397
Marketable equity securities	125	0
Restricted cash equivalents	448	71
Other assets	194	160
Total	34,809	40,921
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	5
Restricted cash equivalents	448	71
Other assets	0	0
Total	20,425	25,882
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	0
Restricted cash equivalents	0	0
Other assets	0	0
Total	14,070	14,879
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	120
Restricted cash equivalents	0	0
Other assets	194	160
Total	314	160
U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable debt securities:	9,252	10,901
U.S. government securities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable debt securities:	9,252	10,901
U.S. government securities \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable debt securities:	0	0
U.S. government securities \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable debt securities:	0	0
U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable debt securities:	5,095	5,927
U.S. government agency securities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable debt securities:	5,095	5,927
U.S. government agency securities \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable debt securities:	0	0
U.S. government agency securities \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable debt securities:	0	0
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable debt securities:	13,336	14,569
Corporate debt securities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable debt securities:	0	0
Corporate debt securities \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable debt securities:	13,336	14,569
Corporate debt securities \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable debt securities:	0	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	3,879	8,850
Money market funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	3,879	8,850
Money market funds \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	0	0
Money market funds \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	0	0
U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	624	25
U.S. government securities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	624	25
U.S. government securities \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	0	0
U.S. government securities \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	0	0
U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	1,122	108
U.S. government agency securities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	1,122	108
U.S. government agency securities \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	0	0
U.S. government agency securities \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	0	0
Certificates of deposit and time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	356	250
Certificates of deposit and time deposits \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	0	0
Certificates of deposit and time deposits \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	356	250
Certificates of deposit and time deposits \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	0	0
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	378	60
Corporate debt securities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	0	0
Corporate debt securities \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	378	60
Corporate debt securities \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents:	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Non-marketable equity securities	$ 6,536	$ 6,775
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Non-Marketable Equity Securities at Fair Value		$ 913

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Property and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment
Finance lease right-of-use assets	$ 3,004		$ 3,004		$ 2,840
Property and equipment, gross	90,022		90,022		77,889
Less: Accumulated depreciation	(22,434)		(22,434)		(20,080)
Property and equipment, net	67,588		67,588		57,809
Depreciation	1,930	$ 1,860	4,040	$ 3,720
Land
Property, Plant and Equipment
Property and equipment, gross	1,703		1,703		1,688
Servers and network assets
Property, Plant and Equipment
Property and equipment, gross	28,996		28,996		25,584
Buildings
Property, Plant and Equipment
Property and equipment, gross	23,946		23,946		22,531
Leasehold improvements
Property, Plant and Equipment
Property and equipment, gross	6,126		6,126		5,795
Equipment and other
Property, Plant and Equipment
Property and equipment, gross	5,147		5,147		4,764
Construction in progress
Property, Plant and Equipment
Property and equipment, gross	$ 21,100		$ 21,100		$ 14,687

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Finance lease cost
Amortization of right-of-use assets	$ 95	$ 83	$ 193	$ 164
Interest	4	4	8	7
Operating lease cost	435	371	846	733
Variable lease cost and other, net	86	59	176	126
Total lease cost	$ 620	$ 517	$ 1,223	$ 1,030

Leases - Lease, Balance Sheet I

Leases - Lease, Balance Sheet Information (Details)	Jun. 30, 2022	Dec. 31, 2021
Weighted-average remaining lease term
Finance leases	13 years 10 months 24 days	13 years 10 months 24 days
Operating leases	12 years 10 months 24 days	13 years
Weighted-average discount rate
Finance leases	2.70%	2.70%
Operating leases	2.90%	2.80%

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Operating Leases
The remainder of 2022	$ 732
2023	1,752
2024	1,843
2025	1,606
2026	1,551
Thereafter	12,424
Total undiscounted cash flows	19,908
Less: Imputed interest	(3,841)
Present value of lease liabilities	16,067
Operating lease liabilities, current	1,275	$ 1,127
Operating lease liabilities, non-current	14,792	$ 12,746
Finance Leases
The remainder of 2022	60
2022	70
2023	52
2024	48
2025	49
Thereafter	452
Total undiscounted cash flows	731
Less: Imputed interest	(119)
Present value of lease liabilities	612
Lease liabilities, current	78
Lease liabilities, non-current	$ 534
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Operating lease liabilities, non-current
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	6 Months Ended
Leases - Narrative (Details) $ in Millions	Jun. 30, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease not yet commenced	$ 8,580
Finance lease not yet commenced	$ 1,630
Minimum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	30 years

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 779	$ 682
Operating cash flows for finance leases	8	7
Financing cash flows for finance leases	452	274
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	3,073	1,941
Finance leases	$ 103	$ 70

Acquisitions, Goodwill and In_3

Acquisitions, Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 20,229	$ 19,197
Several Business Acquisitions
Business Acquisition [Line Items]
Consideration transferred	1,150
Assets acquired	291
Goodwill	1,070
Liabilities assumed	$ 211

Acquisitions, Goodwill and In_4

Acquisitions, Goodwill and Intangible Assets - Change in Carrying Amount of Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Segment Reporting Information [Line Items]
Goodwill, Beginning Balance	$ 19,197
Acquisitions	1,074
Adjustments	(42)
Goodwill, Ending Balance	20,229
Several Business Acquisitions
Segment Reporting Information [Line Items]
Goodwill, Ending Balance	1,070
Family of Apps
Segment Reporting Information [Line Items]
Goodwill, Beginning Balance	18,458
Acquisitions	773
Adjustments	0
Goodwill, Ending Balance	19,231
Reality Labs
Segment Reporting Information [Line Items]
Goodwill, Beginning Balance	739
Acquisitions	301
Adjustments	(42)
Goodwill, Ending Balance	$ 998

Acquisitions, Goodwill and In_5

Acquisitions, Goodwill and Intangible Assets - Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 1,141		$ 1,141		$ 3,059
Accumulated Amortization	(547)		(547)		(2,691)
Net Carrying Amount	594		594		368
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Total indefinite-lived assets	371		371		266
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	1,512		1,512		3,325
Accumulated Amortization	(547)		(547)		(2,691)
Net Carrying Amount	965		965		634
Amortization expense	53	$ 122	$ 93	$ 240
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)			5 years 3 months 18 days
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	630		$ 630		1,412
Accumulated Amortization	(225)		(225)		(1,169)
Net Carrying Amount	405		405		243
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(225)		$ (225)		(1,169)
Acquired patents
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)			3 years
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	390		$ 390		827
Accumulated Amortization	(301)		(301)		(722)
Net Carrying Amount	89		89		105
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(301)		$ (301)		(722)
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)			3 years 10 months 24 days
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	23		$ 23		644
Accumulated Amortization	(3)		(3)		(633)
Net Carrying Amount	20		20		11
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(3)		$ (3)		(633)
Other
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (in years)			9 years 9 months 18 days
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	98		$ 98		176
Accumulated Amortization	(18)		(18)		(167)
Net Carrying Amount	80		80		9
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (18)		$ (18)		$ (167)

Acquisitions, Goodwill and In_6

Acquisitions, Goodwill and Intangible Assets - Estimated Amortization Expense (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
The remainder of 2022	$ 99
2023	146
2024	118
2025	76
2026	35
Thereafter	120
Net Carrying Amount	$ 594	$ 368

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions		1 Months Ended		6 Months Ended
	Jul. 27, 2018 claim	Jul. 27, 2022	Apr. 30, 2020 USD ($)	Jun. 30, 2022 USD ($)	Jul. 01, 2022 USD ($)	Dec. 09, 2020 State
Loss Contingencies [Line Items]
Total estimated spend, purchase commitment				$ 8,840
Commitment period				5 years
Non-cancelable contractual obligations				$ 24,160
Number of class actions filed \| claim	2
Number of states U.S attorney generals filed complaints from \| State						46
Subsequent event
Loss Contingencies [Line Items]
Commitment period		3 years
Non-cancelable contractual obligations					$ 1,500
FTC Inquiry
Loss Contingencies [Line Items]
Payment of penalty for settlement			$ 5,000

Commitments and Contingencies_2

Commitments and Contingencies - Contractual Commitments (Details) $ in Millions	Jun. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
The remainder of 2022	$ 11,777
2023	7,633
2024	1,465
2025	425
2026	295
Thereafter	2,565
Total	$ 24,160

Stockholders' Equity - Share Re

Stockholders' Equity - Share Repurchase Program (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Equity [Abstract]
Remaining authorized repurchase amount	$ 24,320		$ 24,320		$ 38,790
Shares repurchased and retired (in shares)			60
Shares repurchased and retired	$ 5,082	$ 7,149	$ 14,469	$ 11,260

Stockholders' Equity - Share-ba

Stockholders' Equity - Share-based Compensation Plans (Detail) shares in Millions	6 Months Ended
	Jun. 30, 2022 plan	Jan. 01, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award
Share-based employee compensation plans, number \| plan	1
Equity Incentive Plan 2012
Share-based Compensation Arrangement by Share-based Payment Award
Equity incentive plan shares authorized (in shares) \| shares		136
Shares reserved for issuance increase, percentage	2.50%

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) shares in Thousands	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Shares
Unvested at beginning of period (in shares) \| shares	98,848
Granted (in shares) \| shares	83,867
Vested (in shares) \| shares	(25,014)
Forfeited (in shares) \| shares	(8,515)
Unvested at end of period (in shares) \| shares	149,186
Weighted-Average Grant Date Fair Value Per Share
Unvested at beginning of period (in dollars per share) \| $ / shares	$ 244.32
Granted (in dollars per share) \| $ / shares	208.24
Vested (in dollars per share) \| $ / shares	220.46
Forfeited (in dollars per share) \| $ / shares	233.14
Unvested at end of period (in dollars per share) \| $ / shares	$ 228.67

Stockholders' Equity - Addition

Stockholders' Equity - Additional Award Disclosures (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized share-based compensation expense	$ 32,420		$ 32,420
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	2,750	$ 3,650	$ 5,180	$ 6,480
Tax benefit	$ 582	$ 781	$ 1,100	$ 1,390

Income Taxes (Details)

Income Taxes (Details) $ in Millions	1 Months Ended
Income Taxes (Details) $ in Millions	Mar. 31, 2018 USD ($) notice	Jul. 31, 2016 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Income Tax Contingency [Line Items]
Unrecognized tax benefits			$ 10,050	$ 9,810
Unrecognized tax benefits that would result in tax benefit if realized			6,020
Accrued interest and penalties			$ 948	$ 960
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

Segments and Geographical Inf_3

Segments and Geographical Information - Narrative (Details)	6 Months Ended
Segments and Geographical Information - Narrative (Details)	Jun. 30, 2022 reportable_segment
Segments, Geographical Areas [Abstract]
Number of reportable segments (in segments)	2

Segments and Geographical Inf_4

Segments and Geographical Information - Segment Information of Revenue and Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenue	$ 28,822	$ 29,077	$ 56,729	$ 55,248
Income (loss) from operations:	8,358	12,367	16,881	23,745
Family of Apps
Segment Reporting Information [Line Items]
Revenue	28,370	28,772	55,583	54,409
Income (loss) from operations:	11,164	14,799	22,647	28,004
Reality Labs
Segment Reporting Information [Line Items]
Revenue	452	305	1,146	839
Income (loss) from operations:	$ (2,806)	$ (2,432)	$ (5,766)	$ (4,259)

Segments and Geographical Inf_5

Segments and Geographical Information - Property and Equipment, Net (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Long-Lived Assets By Geographical Area
Total long-lived assets	$ 81,718	$ 69,964
United States
Long-Lived Assets By Geographical Area
Total long-lived assets	67,040	55,497
Rest of the world
Long-Lived Assets By Geographical Area
Total long-lived assets	$ 14,678	$ 14,467