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  "notes": "This slide describes governance and strategic processes for legal entity management and divestiture planning.",
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      "text": "We employ a repeatable process for the identification and selection of divestiture options.\nWe closely analyze the separability attributes of each divestiture option to identify: potential buyers, strategies to effect transfer, potential impediments to those strategies and effective mitigating capabilities or actions.",
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      "text": "Continue to review our LER criteria to ensure that they remain fit for purpose.\nContinue to maintain and optimize our legal entity structure to ensure ongoing compliance with the LER criteria.",
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      "text": "The LEWG also performs periodic reviews, such as a benchmark review of operating entities to the LER criteria for a more rational, less complex organization, or a review of \"In-the-Box\" structures, with the goal of ensuring that consistency with the criteria is maintained.",
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      "text": "F. Legal Entity Rationalization\nUnder the oversight of the Legal Entity and Booking Model working group (\"LEWG\"), our corporate structure has been fundamentally transformed over the last several years as we brought it into line with our Legal Entity Rationalization (\"LER\") criteria for a more rational, less complex organization.",
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      "text": "Our legal entity rationalization criteria are now fully embedded in our business-as-usual processes and all new legal entities, significant entity restructurings, and booking model changes must be approved by the LEWG.",
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      "text": "On an annual basis we complete a full and detailed analysis of all of our businesses with the aim of identifying divestiture options capable of being executed as part of or as an alternative to our preferred wind-down strategy.",
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