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Schedule II Nov Inc. Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2024
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, 2024, 2023 and 2022

(in millions)

 

 

Balance
beginning
of year

 

 

Additions
(Deductions)
charged to
costs and
expenses

 

 

Charge offs
and other

 

 

Balance
end of
year

 

Reserve for excess and obsolete inventories:

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

$

354

 

 

$

31

 

 

$

(99

)

 

$

286

 

2023

 

 

378

 

 

 

28

 

 

 

(52

)

 

 

354

 

2022

 

 

444

 

 

 

(18

)

 

 

(48

)

 

 

378

 

Valuation allowance for deferred tax assets:

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

$

346

 

 

$

(64

)

 

$

(16

)

 

$

266

 

2023

 

 

920

 

 

 

(564

)

 

 

(10

)

 

 

346

 

2022

 

 

1,127

 

 

 

24

 

 

 

(231

)

 

 

920