Item 15. Exhibits and Financial Statement Schedules
(a)
The following documents are filed as part of this Annual Report on Form 10-K:
1.
Financial Statements.
See Index to Consolidated Financial Statements under Item 8 of this Annual Report on Form 10-K.
2.
Financial Statement Schedule.
The following additional financial statement schedule should be considered in conjunction with our consolidated financial statements. All other schedules have been omitted because the required information is either not applicable or not sufficiently material to require submission of the schedule.
SCHEDULE II
VALUATION AND QUALIFYING ACCOUNTS
Description
Balance at Beginning of Period
Additions Charged to Expenses or Other Accounts*
Deductions Credited to Expenses or Other Accounts**
Balance at End of Period
(in millions)
2020
Tax valuation allowance
$
240
$
12
$
(5
)
$
247
2019
Tax valuation allowance
$
79
$
169
$
(8
)
$
240
2018
Tax valuation allowance
$
63
$
18
$
(2
)
$
79
Additions include current-year additions charged to expense and current-year build due to increases in net deferred tax assets, return to provision true-ups, other adjustments and Other Comprehensive Income ("OCI") impact to deferred taxes. As disclosed in the deferred tax assets and liabilities table in Note 6, "Income taxes," we have increased the 2019 net operating loss deferred tax asset balance by $167 million. There is an offsetting increase in the 2019 valuation allowance, which is reflected in the table above. This change is the result of the correction of an error that has no impact on the balance sheet or statement of operations. Accordingly, we have concluded that this 2019 error is not material.
** Deductions include current-year releases credited to expense and current-year reductions due to decreases in net deferred tax assets, return to provision true-ups, other adjustments and OCI impact to deferred taxes.
3.
Exhibits.
Exhibits are incorporated herein by reference or are filed with this Annual Report on Form 10-K as indicated below (numbered in accordance with Item 601 of Regulation S-K):
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101.SCH
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101.CAL
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101.LAB
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101.PRE
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101.DEF
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104
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*
Indicates management contract or compensatory plan, contract or arrangement.
**
Certain schedules and exhibits have been omitted pursuant to Item 601(b)(2) of Regulation S-K. Keysight will furnish supplemental copies of any such schedules or exhibits to the U.S. Securities and Exchange Commission upon request.
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