Annual report pursuant to Section 13 and 15(d)

TRANSFORMATION STRATEGY COSTS (Tables)

v3.20.4
TRANSFORMATION STRATEGY COSTS (Tables)
 12 Months Ended
Dec. 31, 2020
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs The table below presents the transformation strategy costs for the years ended December 31, 2020, 2019 and 2018 (in millions):
Transformation Strategy Costs 2020 2019 2018
Compensation and benefits $ 211  $ 166  $ 262 
Total other expenses 137  89  98 
Total Transformation Strategy Costs $ 348  $ 255  $ 360 
Income Tax Benefit from Transformation Strategy Costs (83) (59) (87)
After-Tax Transformation Strategy Costs $ 265  $ 196  $ 273 
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.