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TRANSFORMATION STRATEGY (Notes)

6 Months Ended

Jun. 30, 2020

Restructuring and Related Activities [Abstract]

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 and six months ended June 30, 2020 and 2019 (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Transformation Strategy Costs:
Compensation and benefits	$	81	$	2	$	93	$	108
Total other expenses	31		19		64		36
Total Transformation Strategy Costs	$	112	$	21	$	157	$	144

Income Tax Benefit from Transformation Strategy Costs	(29)		(4)		(39)		(34)
After Tax Transformation Strategy Costs	$	83	$	17	$	118	$	110

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.