Meta Earnings Presentation Q3 2023
Free Cash Flow Reconciliation
In Millions
Meta
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Net cash provided by
$
operating activities
14,091 $ 18,104 $ 14,076 $ 12,197 $
9,691 $ 14,511 $ 13,998 $ 17,309 $ 20,402
Less: Purchases of
property and
4,313
5,370
5,315
7,528
9,355
8,988
6,823
6,134
6,496
equipment, net
Less: Principal
payments on finance
231
172
233
219
163
235
264
220
267
leases
Free Cash Flow
A
9,547 $
12,562 $
8,528 $
4,450 $
173 $
5,288 $
6,911 $
10,955 $ 13,639
Free cash flow (FCF) is a non-GAAP financial measure that has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of other GAAP financial measures, such as net cash provided by operating activities.
FCF is not intended to represent our residual cash flow available for discretionary expenses. Some of the limitations of FCF are: (i) FCF does not reflect our future contractual commitments, and (ii) other companies in our industry present similarly titled
measures differently than we do, limiting their usefulness as comparative measures.
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