Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2024

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

Schedule II - Valuation and Qualifying Accounts

The table below details the activity of the valuation allowance against assets for the years ended December 31, 2024, 2023 and 2022 (in millions):

Description	Balance at Beginning of Period		Charged (Credited) to Income		Charged to Other Accounts			Deductions/Write-offs			Balance at End of Period
Allowance for deferred tax assets
Year ended December 31, 2022	$	227.4	$	7.0	$	(16.7)	(1)	$	(65.3)	(2)	$	152.4
Year ended December 31, 2023	152.4		0.4		0.2		(1)	(2.7)		(2)	150.3
Year ended December 31, 2024	150.3		5.1		68.6		(3)	(7.8)		(2)	216.2

(1)Primarily represents the effects of cumulative translation adjustments.

(2)Primarily relates to the expiration of Japan net operating losses. See Note 16: ''Income Taxes'' in the notes to our audited consolidated financial statements included elsewhere in this Form 10-K.

(3)Primarily relates to the valuation allowance recorded against Korea Investment Tax Credits, accounted for under the deferral method. The benefit of the ITC was recognized as a reduction in the carrying value of the related assets. In addition to the ITC, this amount was partially offset by cumulative translation adjustments. See Note 16: ''Income Taxes'' in the notes to our audited consolidated financial statements included elsewhere in this form 10-K.