Meta Platforms, Inc. Fair Value Disclosure
| Fair Value Measurement at Reporting Date Using | ||||||||||||||||||||||||||
| Description | December 31, 2022 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||
| Cash equivalents: | ||||||||||||||||||||||||||
| Money market funds | $ | 8,305 | $ | 8,305 | $ | — | $ | — | ||||||||||||||||||
| U.S. government agency securities | 16 | 16 | — | — | ||||||||||||||||||||||
| Certificates of deposit and time deposits | 156 | — | 156 | — | ||||||||||||||||||||||
| Corporate debt securities | 28 | — | 28 | — | ||||||||||||||||||||||
| Marketable securities: | ||||||||||||||||||||||||||
| U.S. government securities | 8,708 | 8,708 | — | — | ||||||||||||||||||||||
| U.S. government agency securities | 4,989 | 4,989 | — | — | ||||||||||||||||||||||
| Corporate debt securities | 12,335 | — | 12,335 | — | ||||||||||||||||||||||
| Marketable equity securities | 25 | 25 | — | — | ||||||||||||||||||||||
| Restricted cash equivalents | 583 | 583 | — | — | ||||||||||||||||||||||
| Other assets | 157 | — | — | 157 | ||||||||||||||||||||||
| Total | $ | 35,302 | $ | 22,626 | $ | 12,519 | $ | 157 | ||||||||||||||||||
| Fair Value Measurement at Reporting Date Using | ||||||||||||||||||||||||||
| Description | December 31, 2021 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||
| Cash equivalents: | ||||||||||||||||||||||||||
| Money market funds | $ | 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 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 | ||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2022 | Feb 2, 2023 | Showing above |
| 2021 | Feb 3, 2022 | |
| 2020 | Jan 28, 2021 | |
| 2019 | Jan 30, 2020 | |
| 2018 | Jan 31, 2019 | |
| 2017 | Feb 1, 2018 | |
| 2016 | Feb 3, 2017 | |
| 2015 | Jan 28, 2016 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.