Valuation and Qualifying Accounts
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Schedule V | | For the years ended December 31, 2023, 2022, and 2021 | | | | | | | | | | | | | (in millions) | Balance,
Beginning
of year | | Charged to
Costs and
Expenses | | Write
Offs | | Reclassified
to Assets
Held for Sale | | Other Changes(a) | | Balance,
End of year | | 2023 | | | | | | | | | | | | | | | | | | | | | | | | Allowance for premiums and insurances balances receivable | $ | 169 | | | $ | (7) | | | $ | (29) | | | $ | — | | | $ | 6 | | | $ | 139 | | | | | | | | | | | | | | Federal and foreign valuation allowance for deferred tax assets | 4,246 | | | (357) | | | — | | | (82) | | | (691) | | | 3,116 | | | 2022 | | | | | | | | | | | | | | | | | | | | | | | | Allowance for premiums and insurances balances receivable | $ | 185 | | | $ | — | | | $ | (15) | | | $ | — | | | $ | (1) | | | $ | 169 | | | | | | | | | | | | | | Federal and foreign valuation allowance for deferred tax assets | 1,987 | | | (25) | | | — | | | — | | | 2,284 | | | 4,246 | | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | Allowance for premiums and insurances balances receivable | $ | 205 | | | $ | (15) | | | $ | (2) | | | $ | — | | | $ | (3) | | | $ | 185 | | | | | | | | | | | | | | Federal and foreign valuation allowance for deferred tax assets | 1,330 | | | 718 | | | — | | | — | | | (61) | | | 1,987 | |
(a)Includes recoveries of amounts previously charged off and reclassifications to/from other accounts.
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