TRANSFORMATION STRATEGY (Notes)

6 Months Ended

Jun. 30, 2022

Restructuring and Related Activities [Abstract]

TRANSFORMATION STRATEGY

TRANSFORMATION STRATEGY COSTS

In 2018, we launched a multi-year, enterprise-wide transformation strategy impacting our organization. The program includes investments, as well as changes in processes and technology, that impact global direct and indirect operating costs.

The table below presents transformation strategy costs for the three and six months ended June 30, 2022 and 2021 (in millions):

	Three Months Ended  June 30,				Six Months Ended  June 30,
	2022		2021		2022		2021
Transformation Strategy Costs:
Compensation and benefits	$	23	$	55	$	56	$	131
Total other expenses	18		61		40		103
Total Transformation Strategy Costs	$	41	$	116	$	96	$	234
Income Tax Benefit from Transformation Strategy Costs	(10)		(28)		(22)		(56)
After Tax Transformation Strategy Costs	$	31	$	88	$	74	$	178

The income tax effects of transformation strategy costs are calculated by multiplying the amount of the adjustments by the statutory tax rates applicable in each tax jurisdiction.