Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

GRAY MEDIA, INC.

SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS

(in millions)

Col. A	Col. B		Col. C					Col. D			Col. E
			Additions
			(1)		(2)
	Balance at		Charged to		Charged to						Balance at
	Beginning		Costs and		Other						End of
Description	of Period		Expenses		Accounts (a) (b)			Deductions (b)			Period
Year Ended December 31, 2025:
Allowance for credit losses	$	15	$	8	$	-		$	(7	)	$	16
Valuation allowance for deferred tax assets	$	7	$	-	$	-		$	-		$	7
Year Ended December 31, 2024:
Allowance for doubtful accounts	$	17	$	2	$	-		$	(4	)	$	15
Valuation allowance for deferred tax assets	$	9	$	-	$	(2	)	$	-		$	7
Year Ended December 31, 2023:
Allowance for doubtful accounts	$	16	$	21	$	-		$	(20	)	$	17
Valuation allowance for deferred tax assets	$	10	$	-	$	(1	)	$	-		$	9

(a) The adjustment to the valuation allowance for deferred tax assets represents changes in estimates of our future taxable income and our estimated future usage of certain net operating loss carryforwards, as well as expiration of certain net operating loss carryforwards.

(b) The adjustments to our allowance for credit losses include net adjustments related to write-offs of receivable balances not considered collectible less recoveries of amounts previously considered to be uncollectable.