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Schedule II Nov Inc. Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II Nov Inc. Valuation and Qualifying Accounts

SCHEDULE II

NOV INC.

VALUATION AND QUALIFYING ACCOUNTS

Years Ended December 31, 2023, 2022 and 2021

(in millions)

 

 

 

Balance
beginning
of year

 

 

Additions
(Deductions)
charged to
costs and
expenses

 

 

Charge off's
and other

 

 

Balance
end of
year

 

Reserve for excess and obsolete inventories:

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

$

378

 

 

$

28

 

 

$

(52

)

 

$

354

 

2022

 

 

444

 

 

 

(18

)

 

 

(48

)

 

 

378

 

2021

 

 

577

 

 

 

73

 

 

 

(206

)

 

 

444

 

Valuation allowance for deferred tax assets:

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

$

920

 

 

$

(564

)

 

$

(10

)

 

$

346

 

2022

 

 

1,127

 

 

 

24

 

 

 

(231

)

 

 

920

 

2021

 

 

1,093

 

 

 

31

 

 

 

3

 

 

 

1,127