TRANSFORMATION STRATEGY

12 Months Ended

Dec. 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 years ended December 31, 2021, 2020 and 2019 (in millions):

	2021		2020		2019
Compensation and benefits	$	206	$	211	$	166
Total other expenses	174		137		89
Total Transformation Strategy Costs	$	380	$	348	$	255
Income Tax Benefit from Transformation Strategy Costs	(95)		(83)		(59)
After-Tax Transformation Strategy Costs	$	285	$	265	$	196

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.