Meta Platforms Inc., balance sheet: debt

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Finance lease liabilities, current	76)	90)	129)	75)	54)
Long-term debt	28,826)	18,385)	9,923)	—)	—)
Finance lease liabilities, non-current	633)	600)	558)	506)	469)
Total long-term debt and finance lease liabilities (carrying amount)	29,535)	19,075)	10,610)	581)	523)

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Debt item	Description	The company
Total long-term debt and finance lease liabilities (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	Meta Platforms Inc. total debt increased from 2022 to 2023 and from 2023 to 2024.

	Dec 31, 2024
Selected Financial Data (US$ in millions)
Long-term debt	27,830)
Finance lease liabilities	709)
Total long-term debt and finance lease liabilities (fair value)	28,539)
Financial Ratio
Debt, fair value to carrying amount ratio	0.97

Weighted-average effective interest rate on long-term debt and finance leases: 5.31%

Interest rate	Debt amount¹	Interest rate × Debt amount
4.71%	10,000)	471)
5.79%	8,500)	492)
5.60%	10,500)	588)
3.60%	709)	26)
Total	29,709)	1,577)
5.31%

¹ US$ in millions

² Weighted-average interest rate = 100 × 1,577 ÷ 29,709 = 5.31%

Meta Platforms Inc., interest costs incurred

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest expense	715)	446)	176)	15)	14)
Capitalized interest	384)	283)	—)	—)	—)
Interest costs incurred	1,099)	729)	176)	15)	14)

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Debt item	Description	The company
Interest expense	Amount of the cost of borrowed funds accounted for as interest expense for debt.	Meta Platforms Inc. interest expense increased from 2022 to 2023 and from 2023 to 2024.
Capitalized interest	Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred.	Meta Platforms Inc. capitalized interest increased from 2022 to 2023 and from 2023 to 2024.
Interest costs incurred	Total interest costs incurred during the period and either capitalized or charged against earnings.	Meta Platforms Inc. interest costs incurred increased from 2022 to 2023 and from 2023 to 2024.

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Net income	62,360)	39,098)	23,200)	39,370)	29,146)
Add: Income tax expense	8,303)	8,330)	5,619)	7,914)	4,034)
Add: Interest expense	715)	446)	176)	15)	14)
Earnings before interest and tax (EBIT)	71,378)	47,874)	28,995)	47,299)	33,194)

Interest costs incurred	1,099)	729)	176)	15)	14)
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)¹	99.83	107.34	164.74	3,153.27	2,371.00
Adjusted interest coverage ratio (with capitalized interest)²	64.95	65.67	164.74	3,153.27	2,371.00

2024 Calculations

¹ Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= 71,378 ÷ 715 = 99.83

² Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= 71,378 ÷ 1,099 = 64.95

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Solvency ratio	Description	The company
Adjusted interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest).	Meta Platforms Inc. adjusted interest coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Meta Platforms Inc. (NASDAQ:META)

Analysis of Debt