Quarterly report pursuant to Section 13 or 15(d)

TRANSFORMATION STRATEGY (Notes)

v3.20.2
TRANSFORMATION STRATEGY (Notes)
 6 Months Ended
Jun. 30, 2020
Restructuring and Related Activities [Abstract]  
TRANSFORMATION STRATEGY TRANSFORMATION STRATEGY COSTS
In the first quarter of 2018, we launched the first phase of a multi-year, enterprise-wide transformation strategy impacting our organization. Over the next several years additional phases will be implemented. The program includes investments, as well as changes in processes and technology, that impact global direct and indirect operating costs.
The table below presents the transformation strategy costs for the three and six months ended June 30, 2020 and 2019 (in millions):
Three Months Ended
June 30,		 Six Months Ended
June 30,
2020 2019 2020 2019
Transformation Strategy Costs:
Compensation and benefits $ 81    $ 2    $ 93    $ 108   
Total other expenses 31    19    64    36   
Total Transformation Strategy Costs $ 112    $ 21    $ 157    $ 144   
Income Tax Benefit from Transformation Strategy Costs (29)   (4)   (39)   (34)  
After Tax Transformation Strategy Costs $ 83    $ 17    $ 118    $ 110   
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.