Meta Net Long-Term Debt Issuance (Trailing 12 Months, SEC filings)

## What this measures

Meta's net new long-term borrowing over the trailing four quarters, in billions of US dollars: the sum of the quarterly series debt.issuance.meta.quarterly_usd_bn.

## Why it matters

Bond issuance is lumpy, so a year of it is the steadier read on whether a company is turning to the debt market to fund its AI spending.

## How to read it

The twelve-month total was $29.9 billion at December 2025 and $54.8 billion at June 2026. Compare it with the company's capital spending (capex.meta.ttm) to see how much of the build-out is borrowed.

## What it does not say

A trailing total needs four consecutive filed quarters; it is not published after a gap. It is net new long-term borrowing as filed in the cash flow statement: bonds, term loans and notes, after repayments. It is not a count of bond deals, and a quarter can be negative when more debt matured than was issued. Quarters are derived from year-to-date figures, so a restated filing changes the quarters around it. Finance leases, commercial paper (except where noted) and debt assumed in acquisitions are not issuance here.

## Source

U.S. Securities and Exchange Commission, EDGAR XBRL companyconcept API (data.sec.gov/api/xbrl/companyconcept), Form 10-Q and 10-K cash-flow facts: ProceedsFromIssuanceOfLongTermDebt; Meta has filed no repayment line (its first bonds were issued in 2022 and the first matures in 2027), so repayments are zero. Palanor reads the filings every week and re-derives the whole history each run, so restatements carry through. Fiscal-year starts and quarter ends come from the company's own net-cash-flow spans. U.S. government work, public domain (17 U.S.C. §105); the figures are the company's own filed numbers.