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Income Tax (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Income (Loss) before Income Tax | Income (loss) before income tax is comprised of the following:
|  | Year ended December 31, 2024 |  | Year ended December 31, 2023 |  | Year ended December 31, 2022
Income (loss) recorded in the Netherlands |  | (33) |  |  | (32) |  |  | (22) |
Income (loss) from foreign operations |  | 1,911 |  |  | 4,795 |  |  | 4,508 |
Income (loss) before income tax benefit (expense) |  | 1,878 |  |  | 4,763 |  |  | 4,486 |
Income Tax Benefit (Expense) | Income tax benefit (expense) is comprised of the following:
|  | Year ended December 31, 2024 |  | Year ended December 31, 2023 |  | Year ended December 31, 2022
The Netherlands taxes - current |  | — |  |  | — |  |  | — |
Foreign taxes - current |  | (173) |  |  | (528) |  |  | (510) |
Total current taxes |  | (173) |  |  | (528) |  |  | (510) |
The Netherlands taxes - deferred |  | — |  |  | — |  |  | — |
Foreign taxes - deferred |  | (140) |  |  | (13) |  |  | (10) |
Total deferred taxes |  | (140) |  |  | (13) |  |  | (10) |
Income tax expense |  | (313) |  |  | (541) |  |  | (520) |
Effective tax rate |  | 17 | % |  | 11 | % |  | 12 | %
Differences in Income Taxes Computed at Netherlands Statutory Rate and Effective Income Tax Rate | The principal items comprising the differences in income taxes computed at the Netherlands statutory rate of 25.8% in 2024, 25.8% in 2023 and 25.8% in 2022, and the effective income tax rate are the following:
|  | Year ended December 31, 2024 |  | Year ended December 31, 2023 |  | Year ended December 31, 2022
Income tax benefit (expense) computed at statutory rate |  | (483) |  |  | (1,229) |  |  | (1,158) |
Non-deductible and non-taxable permanent differences, net |  | (12) |  |  | 6 |  |  | 22 |
Change in valuation allowances |  | (14) |  |  | — |  |  | 140 |
Effect of changes in tax laws and similar |  | — |  |  | 149 |  |  | 6 |
Current year tax credits |  | 37 |  |  | 29 |  |  | 30 |
Other tax and credits |  | (8) |  |  | 34 |  |  | (51) |
Benefits from tax holidays |  | 29 |  |  | 45 |  |  | 60 |
Net impact of changes to uncertain tax positions |  | (3) |  |  | (8) |  |  | (12) |
Earnings of subsidiaries taxed at different rates |  | 141 |  |  | 433 |  |  | 443 |
Income tax benefit (expense) |  | (313) |  |  | (541) |  |  | (520) |
Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities consisted of the following:
|  | December 31, 2024 |  | December 31, 2023
Tax loss carryforwards, tax credits and other tax attributes |  | 773 |  |  | 886 |
Less unrecognized tax benefits |  | (19) |  |  | (21) |
Tax loss carryforwards, tax credits and other tax attributes, net of unrecognized tax benefits |  | 754 |  |  | 865 |
Inventory valuation |  | 59 |  |  | 48 |
Fixed asset depreciation |  | 57 |  |  | 61 |
Depreciation tax incentives |  | 22 |  |  | 48 |
Capitalized development costs |  | — |  |  | 38 |
Receivables for government funding |  | 186 |  |  | 152 |
Tax credits granted on capital investments |  | 234 |  |  | 226 |
Pension |  | 66 |  |  | 67 |
Stock awards |  | 16 |  |  | 17 |
Operating lease liabilities |  | 59 |  |  | 69 |
Commercial accruals |  | 45 |  |  | 38 |
Other temporary differences |  | 36 |  |  | 33 |
Total deferred tax assets |  | 1,534 |  |  | 1,662 |
Valuation allowances |  | (699) |  |  | (782) |
Deferred tax assets, net |  | 835 |  |  | 880 |
Accelerated fixed asset depreciation |  | (53) |  |  | (40) |
Acquired intangible assets |  | (26) |  |  | (24) |
Advances of government funding |  | (237) |  |  | (185) |
Operating lease right-of-use assets |  | (59) |  |  | (62) |
Other temporary differences |  | (43) |  |  | (31) |
Total deferred tax liabilities |  | (418) |  |  | (342) |
Net deferred income tax asset |  | 417 |  |  | 538 |
Gross Deferred Tax Assets On Tax Loss Carryforwards And Investment Credits Expiration Table Text Block | As of December 31, 2024, the Company and its subsidiaries have gross deferred tax assets on tax loss carryforwards, tax credits and other tax attributes that expire starting from end of fiscal year 2025.
|  | December 31,
Year |  | 2024
2025 |  | 40
2026 |  | 40
2027 |  | 40
2028 |  | 40
2029 |  | 38
Thereafter |  | 575
Total |  | 773
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of 2024, 2023 and 2022 beginning and ending amounts of unrecognized tax benefits is as follows:
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022
Balance at beginning of year |  | 55 |  |  | 61 |  |  | 118 |
Additions based on tax positions related to the current year |  | 3 |  |  | — |  |  | 4 |
Additions for tax positions of prior years |  | 5 |  |  | 11 |  |  | 13 |
Reduction for tax positions of prior years |  | (1) |  |  | — |  |  | (69) |
Settlements |  | (3) |  |  | (14) |  |  | (2) |
Reductions due to lapse of statute of limitations |  | (8) |  |  | (4) |  |  | — |
Currency translation adjustment |  | (3) |  |  | 1 |  |  | (3) |
Balance at end of year |  | 48 |  |  | 55 |  |  | 61 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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