Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2025

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

The table below details the activity of the allowance for doubtful accounts, deferred tax asset valuation allowance, and insurance reserves (in millions):


	Balance at Beginning of Period		Additions (1), (2)		Deductions (2)		Other (4)		Balance at End of Period
Year Ended December 31, 2023
Allowance for doubtful accounts	$	80	$	245	$	(234)	$	—	$	91
Deferred tax asset valuation allowance	$	13,971	$	81	$	(107)	$	—	$	13,945
Insurance reserves (4)	$	4,754	$	3,544	$	(1,526)	$	214	$	6,986
Year Ended December 31, 2024
Allowance for doubtful accounts	$	91	$	252	$	(248)	$	—	$	95
Deferred tax assets valuation allowance	$	13,945	$	241	$	(7,919)	$	—	$	6,267
Insurance reserves (3), (4)	$	6,986	$	4,489	$	(1,696)	$	17	$	9,796
Year Ended December 31, 2025
Allowance for doubtful accounts	$	95	$	249	$	(253)	$	—	$	91
Deferred tax assets valuation allowance	$	6,267	$	66	$	(5,021)	$	—	$	1,312
Insurance reserves (3), (4)	$	9,796	$	4,879	$	(2,421)	$	209	$	12,463

(1) Additions to insurance reserves include $158 million, $(78) million and $(21) million for the years ended December 31, 2023, 2024, and 2025 respectively, for changes in estimates resulting from new developments in prior period claims.

(2) For the year ended December 31, 2024, the decrease in the valuation allowance was primarily attributable to the release of the valuation allowance of certain U.S. federal and state deferred tax assets.

For the year ended December 31, 2025, the decrease in the valuation allowance was primarily attributable to the release of the valuation allowance on the Netherlands' deferred tax assets.

(3) $264 million and $473 million of the insurance reserve is covered by third-party insurance and is included as a component of prepaid expenses and other current assets and other assets as of December 31, 2024 and 2025, respectively.

(4) Other represents the change in the insurance reserve for which there is a corresponding insurance recoverable.