Quarterly report pursuant to Section 13 or 15(d)

TRANSFORMATION STRATEGY (Notes)

v3.20.1
TRANSFORMATION STRATEGY (Notes)
 3 Months Ended
Mar. 31, 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 months ended March 31, 2020 and 2019 (in millions):
Three Months Ended
March 31,
2020 2019
Transformation Strategy Costs:
Compensation and benefits $ 12    $ 106   
Total other expenses 33    17   
Total Transformation Strategy Costs $ 45    $ 123   
Income Tax Benefit from Transformation Strategy Costs (10)   (30)  
After Tax Transformation Strategy Costs $ 35    $ 93   
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.