Quarterly report pursuant to Section 13 or 15(d)

TRANSFORMATION STRATEGY COSTS

v3.23.1
TRANSFORMATION STRATEGY COSTS
 3 Months Ended
Mar. 31, 2023
Restructuring and Related Activities [Abstract]  
TRANSFORMATION STRATEGY COSTS TRANSFORMATION STRATEGY COSTS
We are undertaking an enterprise-wide transformation of our organization. The program includes initiatives, 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 months ended March 31, 2023 and 2022 (in millions):
Three Months Ended
 March 31,
2023 2022
Transformation Strategy Costs:
Compensation and benefits $ (12) $ 33 
Total other expenses 15  22 
Total Transformation Strategy Costs $ 3  $ 55 
Income Tax Benefit from Transformation Strategy Costs —  (12)
After-Tax Transformation Strategy Costs $ 3  $ 43 
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.