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RESTRUCTURING CHARGES
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
RESTRUCTURING CHARGES RESTRUCTURING CHARGES
In 2024, we launched a comprehensive initiative to enhance our effectiveness and efficiency across the Company.
In connection with these efforts, in 2024, we recorded $68 million of charges for employee termination benefits, of which we present $37 million in the “Restructuring and merger-related charges” caption and $31 million in the “Reimbursed expenses” caption of our Income Statements. We substantially completed this initiative as of year-end 2024.
The following table presents our restructuring reserve activity during the period:
(in millions)
Employee termination benefits
Balance at December 31, 2023
$— 
Charges68 
Cash payments(8)
Other(4)
Balance at December 31, 2024, classified in “Accrued expenses and other”
$56