Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Meta Platforms Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Accounts payable	8,894)	7,798)	10,271)	8,512)	7,687)	7,656)	3,173)	3,785)	4,849)	4,372)	3,093)	3,672)	4,990)	3,871)	4,008)	3,246)	4,083)	2,195)	973)	878)
Operating lease liabilities, current	2,213)	2,113)	1,977)	1,976)	1,942)	2,016)	1,917)	1,676)	1,623)	1,460)	1,396)	1,479)	1,367)	1,291)	1,275)	1,159)	1,127)	1,086)	1,051)	1,040)
Accrued expenses and other current liabilities	30,729)	27,047)	25,057)	23,402)	23,967)	23,658)	21,914)	22,640)	25,488)	24,699)	25,432)	20,230)	20,669)	17,525)	16,934)	16,681)	15,925)	14,531)	12,850)	10,799)
Current liabilities	41,836)	36,958)	37,305)	33,890)	33,596)	33,330)	27,004)	28,101)	31,960)	30,531)	29,921)	25,381)	27,026)	22,687)	22,217)	21,086)	21,135)	17,812)	14,874)	12,717)
Operating lease liabilities, non-current	22,940)	20,113)	18,751)	18,714)	18,292)	18,208)	17,685)	17,570)	17,226)	16,374)	16,440)	16,171)	15,301)	14,687)	14,792)	12,894)	12,746)	11,554)	10,956)	10,574)
Long-term debt	58,744)	28,834)	28,832)	28,829)	28,826)	28,823)	18,389)	18,387)	18,385)	18,383)	18,382)	9,925)	9,923)	9,922)	—)	—)	—)	—)	—)	—)
Long-term income taxes	21,005)	11,738)	12,046)	10,991)	9,987)	9,171)	7,897)	7,795)	7,514)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other liabilities	4,253)	12,135)	2,740)	2,760)	2,716)	2,347)	2,500)	1,462)	1,370)	8,113)	7,912)	8,219)	7,764)	7,504)	7,003)	7,010)	7,227)	6,859)	6,552)	6,575)
Non-current liabilities	106,942)	72,820)	62,369)	61,294)	59,821)	58,549)	46,471)	45,214)	44,495)	42,870)	42,734)	34,315)	32,988)	32,113)	21,795)	19,904)	19,973)	18,413)	17,508)	17,149)
Total liabilities	148,778)	109,778)	99,674)	95,184)	93,417)	91,879)	73,475)	73,315)	76,455)	73,401)	72,655)	59,696)	60,014)	54,800)	44,012)	40,990)	41,108)	36,225)	32,382)	29,866)
Common stock, $0.000006 par value	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Additional paid-in capital	95,793)	92,330)	88,496)	85,568)	83,228)	80,749)	78,270)	75,391)	73,253)	71,224)	69,159)	66,535)	64,444)	62,092)	59,929)	57,512)	55,811)	54,334)	52,845)	51,160)
Accumulated other comprehensive income (loss)	271)	159)	229)	(1,865)	(3,097)	(1,192)	(2,695)	(2,655)	(2,155)	(3,556)	(3,106)	(2,981)	(3,530)	(5,054)	(3,411)	(1,996)	(693)	(207)	285)	154)
Retained earnings	121,179)	101,577)	106,345)	101,326)	102,506)	84,972)	81,188)	76,793)	82,070)	75,205)	67,980)	61,241)	64,799)	67,056)	69,249)	67,712)	69,761)	79,233)	85,097)	82,343)
Stockholders’ equity	217,243)	194,066)	195,070)	185,029)	182,637)	164,529)	156,763)	149,529)	153,168)	142,873)	134,033)	124,795)	125,713)	124,094)	125,767)	123,228)	124,879)	133,360)	138,227)	133,657)
Total liabilities and stockholders’ equity	366,021)	303,844)	294,744)	280,213)	276,054)	256,408)	230,238)	222,844)	229,623)	216,274)	206,688)	184,491)	185,727)	178,894)	169,779)	164,218)	165,987)	169,585)	170,609)	163,523)

The liabilities and stockholders’ equity of the company exhibit notable fluctuations over the analyzed period, spanning from March 2021 to December 2025. A general trend of increasing liabilities is observed, particularly accelerating in the later years of the period. Stockholders’ equity demonstrates more variability, with periods of decline followed by substantial growth.

Current Liabilities: Current liabilities generally increased from $12.717 billion in March 2021 to $41.836 billion in December 2025. Significant increases were observed between September 2022 and December 2023, and again between September 2025 and December 2025. Accounts payable and accrued expenses and other current liabilities are the primary drivers of this trend, with accrued expenses showing the most substantial growth overall. Operating lease liabilities, current, also contribute to the increase, though to a lesser extent.
Non-Current Liabilities: Non-current liabilities also increased over the period, but with more pronounced fluctuations. From $17.149 billion in March 2021, they rose to $106.942 billion in December 2025. A substantial increase is evident beginning in September 2022, coinciding with the appearance of long-term debt. The addition of long-term income taxes in March 2023 further contributes to this growth. Other liabilities also show an increase, though less dramatic than long-term debt and income taxes.
Total Liabilities: Total liabilities demonstrate a consistent upward trend, increasing from $29.866 billion in March 2021 to $148.778 billion in December 2025. The most significant increases occur between September 2022 and December 2025, driven by the substantial growth in both current and non-current liabilities. This suggests a potential shift in the company’s financing strategy, relying more heavily on debt.
Stockholders’ Equity: Stockholders’ equity experienced more volatility. It began at $133.657 billion in March 2021, decreased to $124.879 billion in December 2021, and then increased to $217.243 billion by December 2025. The primary component, retained earnings, shows a similar pattern of decline followed by growth. Additional paid-in capital remains relatively stable throughout the period, while accumulated other comprehensive income (loss) fluctuates, generally remaining a smaller component of total equity. The substantial increase in stockholders’ equity between 2023 and 2025 suggests improved profitability or share issuance.
Total Liabilities and Stockholders’ Equity: The combined total of liabilities and stockholders’ equity increased from $163.523 billion in March 2021 to $366.021 billion in December 2025. This growth is primarily attributable to the significant increase in total liabilities, particularly in the latter half of the analyzed period. The increasing reliance on liabilities to fund operations or investments is a key observation.

In summary, the company’s balance sheet demonstrates a growing reliance on liabilities, particularly long-term debt, to finance its operations. While stockholders’ equity also increased overall, the rate of growth in liabilities outpaced that of equity, indicating a potential shift in the company’s capital structure.

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Meta Platforms Inc. (NASDAQ:META)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data