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Other Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Carrying Values and Fair Values of Other Financial Instruments

The carrying values and fair values of Arconic’s financial instruments were as follows:

 

     2016      2015  
December 31,    Carrying
value
     Fair
value
     Carrying
value
     Fair
value
 

Cash and cash equivalents

   $ 1,863      $ 1,863      $ 1,362      $ 1,362  

Restricted cash

     15        15        37        37  

Derivatives – current asset

     14        14        67        67  

Noncurrent receivables

     21        21        17        17  

Derivatives – noncurrent asset

     10        10        31        31  

Available-for-sale securities

     102        102        193        193  

Investment in common stock of Alcoa Corporation

     1,020        1,020        -        -  

Short-term borrowings

     36        36        38        38  

Derivatives – current liability

     5        5        49        49  

Commercial paper

     -        -        -        -  

Long-term debt due within one year

     4        4        3        3  

Derivatives – noncurrent liability

     3        3        19        19  

Contingent payment related to an acquisition

     78        78        130        130  

Long-term debt, less amount due within one year

     8,044        8,519        8,786        8,714