Expenses

12 Months Ended

Dec. 31, 2022

The following table presents the components of other expenses for the periods indicated:


	Years Ended December 31,
(In millions)		2022		2021		2020
Professional services		$	375	$	334	$	364
Sales advertising and public relations		99		73		77
Regulatory fees and assessments		83		69		61
Securities processing		63		34		41

Bank operations		41		12		18

Donations		27		2		20
Other		387		372		384
Total other expenses		$	1,075	$	896	$	965

Acquisition and Restructuring Costs

We recorded approximately $65 million and $13 million, in 2022 and 2021, respectively, of acquisition costs related to the BBH Investor Services acquisition transaction we are no longer pursuing. In addition, in 2021, we also recorded approximately $52 million of acquisition costs related to our 2018 acquisition of CRD for which starting in 2022, we no longer distinguished certain costs as acquisition costs.

Repositioning Charges

In 2022, we recorded repositioning charges of $78 million, consisting of $50 million of compensation and benefits expenses primarily related to streamlining the Investment Services organization, $20 million of occupancy charges related to real estate footprint optimization and $8 million of BBH-related repositioning charges. The BBH-related repositioning charges were recognized in acquisition and restructuring expenses.

In 2021, we recorded a net repositioning benefit of $3 million, including $32 million release of previously accrued severance charges, primarily due to higher attrition and redeployment rates during the COVID-19 pandemic, partially offset by $29 million of occupancy charges related to footprint optimization.

The following table presents aggregate activity for repositioning charges and activity related to previous Beacon restructuring charges for the periods indicated:


(In millions)	Employee Related Costs		Real Estate Actions		Asset and Other Write-offs		Total











Accrual Balance at December 31, 2019	$	190	$	7	$	1	$	198
Accruals for Beacon	(4)		—		—		(4)
Accruals for Repositioning Charges	82		51		—		133
Payments and Other Adjustments	(78)		(52)		(1)		(131)
Accrual Balance at December 31, 2020	190		6		—		196
Accruals for Beacon	(1)		—		—		(1)
Accruals for Repositioning Charges	(32)		29		—		(3)
Payments and Other Adjustments	(89)		(29)		—		(118)
Accrual Balance at December 31, 2021	68		6		—		74

Accruals for Repositioning Charges	58		20		—		78
Payments and Other Adjustments	(43)		(21)		—		(64)
Accrual Balance at December 31, 2022	$	83	$	5	$	—	$	88