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Strategic Initiatives (Tables)
6 Months Ended
Jun. 30, 2023
Restructuring and Related Activities [Abstract]  
Schedule of Changes in Restructuring Liability
The following table summarizes the changes in the liability associated with our Restructuring Plan during the three and six months ended June 30, 2022:
Severance and Other Employee Costs(1)
Lease Termination and Associated Costs(2)
Other(3)
Total
 (in millions)
Three Months Ended June 30, 2022
Restructuring liability at beginning of period$2 $38 $ $40 
Restructuring costs accrued during the period4  11 15 
Restructuring costs paid during the period(4)(4)(11)(19)
Restructuring liability at end of period$2 $34 $ $36 
Six Months Ended June 30, 2022
Restructuring liability at beginning of period$10 $46 $ $56 
Restructuring costs accrued during the period4  18 22 
Restructuring costs paid during the period(12)(12)(18)(42)
Restructuring liability at end of period(4)
$2 $34 $ $36 
(1)Severance and other employee costs are included in salaries and employee benefits in the consolidated statement of income. The majority of these costs were reported in the Wealth and Personal Banking business segment. Not included in these costs are allocated severance costs from HSBC Technology & Services (USA) Inc. ("HTSU") discussed further below.
(2)Primarily includes real estate taxes, service charges and decommissioning costs. Lease termination and associated costs are included in occupancy expense, net in the consolidated statement of income and were reported in the Wealth and Personal Banking and the Corporate Center business segments.
(3)Primarily includes professional fees and other staff costs, which are included in other expenses in the consolidated statement of income. The majority of these costs were reported in the Wealth and Personal Banking business segment.
(4)At June 30, 2023, our remaining liability associated with our Restructuring Plan totaled $23 million.