Meta Financial and User Metrics Update slide image

Meta Financial and User Metrics Update

Free Cash Flow Reconciliation In Millions Q4'19 Q1'20 Q2'20(1) Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Net cash provided by operating activities $ 9,083 $ 11,001 $ 3,878 $9,828 $ 14,040 $ 12,242 $ 13,246 $ 14,091 $ 18,104 Less: Purchases of property and equipment, net 4,100 3,558 3,255 3,689 4,613 4,272 4,612 4,313 5,370 Less: Principal payments on finance leases Free cash flow 141 100 109 189 205 151 123 231 172 $ 4,842 $ 7,343 $ 514 $ 5,950 $9,222 $ 7,819 $ 8,511 $ 9,547 $ 12,562 Meta 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. (1) Reflects the $5.0 billion FTC settlement that was paid in the second quarter of 2020. 17
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