Annual report pursuant to Section 13 and 15(d)

TRANSFORMATION STRATEGY COSTS (Tables)

v3.25.0.1
TRANSFORMATION STRATEGY COSTS (Tables)
12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs
The table below presents transformation strategy costs for the years ended December 31, 2024, 2023 and 2022 (in millions):
2024 2023 2022
Compensation and benefits $ 213  $ 337  $ 46 
Total other expenses 109  98  132 
Total Transformation Strategy Costs $ 322  $ 435  $ 178 
Income Tax Benefit from Transformation Strategy Costs (77) (102) (36)
After-Tax Transformation Strategy Costs $ 245  $ 333  $ 142 
Transformation strategy costs during the periods presented related to our Transformation 2.0, Fit to Serve and Network reconfiguration and Efficiency Reimagined programs. Total costs by program are shown in the table below for the years ended December 31, 2024, 2023 and 2022 (in millions):

2024 2023 2022
Transformation Strategy Costs:
Transformation 1.0 $ —  $ 13  $ 50 
Transformation 2.0
Spans and layers —  86 
Business portfolio review 29  84  80 
Financial systems 54  36  33 
Other initiatives —  11 
Transformation 2.0 total 83  210  128 
Fit to Serve 204  212  — 
Network Reconfiguration and Efficiency Reimagined
35  —  — 
Total Transformation Strategy Costs $ 322  $ 435  $ 178