Quarterly report pursuant to Section 13 or 15(d)

TRANSFORMATION STRATEGY (Notes)

v3.21.1
TRANSFORMATION STRATEGY (Notes)
 3 Months Ended
Mar. 31, 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 months ended March 31, 2021 and 2020 (in millions):
Three Months Ended
March 31,
2021 2020
Transformation Strategy Costs:
Compensation and benefits $ 76  $ 12 
Total other expenses 42  33 
Total Transformation Strategy Costs $ 118  $ 45 
Income Tax Benefit from Transformation Strategy Costs (28) (10)
After Tax Transformation Strategy Costs $ 90  $ 35 
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.