Quarterly report [Sections 13 or 15(d)]

TRANSFORMATION STRATEGY COSTS (Tables)

v3.25.3
TRANSFORMATION STRATEGY COSTS (Tables)
9 Months Ended
Sep. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs
The table below presents transformation strategy costs for the three and nine months ended September 30, 2025 and 2024 (in millions):
Three Months Ended
 September 30,
Nine Months Ended
 September 30,
2025 2024 2025 2024
Transformation Strategy Costs:
Compensation and benefits $ 284  $ 110  $ 358  $ 161 
Total Other expenses
44  44  102  66 
Total Transformation Strategy Costs
$ 328  $ 154  $ 460  $ 227 
Income Tax Benefit from Transformation Strategy Costs (1)
(78) (38) (109) (55)
After-Tax Transformation Strategy Costs
$ 250  $ 116  $ 351  $ 172 
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 three and nine months ended September 30, 2025 and 2024 (in millions):
Three Months Ended
 September 30,
Nine Months Ended
 September 30,
2025 2024 2025 2024
Transformation Strategy Costs:
Transformation 2.0
Business portfolio review $ —  $ 34  $ (18) $ 29 
Financial systems 13  12  44  41 
Transformation 2.0 total 13  46  26  70 
Fit to Serve 19  108  47  157 
Network Reconfiguration and Efficiency Reimagined
296  —  387  — 
Total Transformation Strategy Costs $ 328  $ 154  $ 460  $ 227