Quarterly report pursuant to Section 13 or 15(d)

TRANSFORMATION STRATEGY (Notes)

v3.21.2
TRANSFORMATION STRATEGY (Notes)
 6 Months Ended
Jun. 30, 2021
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 the transformation strategy costs for the three and six months ended June 30, 2021 and 2020 (in millions):
Three Months Ended
June 30,		 Six Months Ended
June 30,
2021 2020 2021 2020
Transformation Strategy Costs:
Compensation and benefits $ 55  $ 81  $ 131  $ 93 
Total other expenses 61  31  103  64 
Total Transformation Strategy Costs $ 116  $ 112  $ 234  $ 157 
Income Tax Benefit from Transformation Strategy Costs (28) (29) (56) (39)
After Tax Transformation Strategy Costs $ 88  $ 83  $ 178  $ 118 
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.