Annual report pursuant to Section 13 and 15(d)

TRANSFORMATION STRATEGY COSTS (Tables)

v3.22.4
TRANSFORMATION STRATEGY COSTS (Tables)
 12 Months Ended
Dec. 31, 2022
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs The table below presents the transformation strategy costs for the years ended December 31, 2022, 2021 and 2020 (in millions):
2022 2021 2020
Compensation and benefits $ 46  $ 206  $ 211 
Total other expenses 132  174  137 
Total Transformation Strategy Costs $ 178  $ 380  $ 348 
Income Tax Benefit from Transformation Strategy Costs (36) (95) (83)
After-Tax Transformation Strategy Costs $ 142  $ 285  $ 265 
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.