Quarterly report pursuant to Section 13 or 15(d)

TRANSFORMATION STRATEGY (Notes)

v3.22.2
TRANSFORMATION STRATEGY (Notes)
 6 Months Ended
Jun. 30, 2022
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 transformation strategy costs for the three and six months ended June 30, 2022 and 2021 (in millions):
Three Months Ended
 June 30,		 Six Months Ended
 June 30,
2022 2021 2022 2021
Transformation Strategy Costs:
Compensation and benefits $ 23  $ 55  $ 56  $ 131 
Total other expenses 18  61  40  103 
Total Transformation Strategy Costs $ 41  $ 116  $ 96  $ 234 
Income Tax Benefit from Transformation Strategy Costs (10) (28) (22) (56)
After Tax Transformation Strategy Costs $ 31  $ 88  $ 74  $ 178 
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.