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Pension and Other Postretirement Benefits | 6 Months Ended
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Jun. 30, 2017
Retirement Benefits [Abstract] |
Pension and Other Postretirement Benefits | M. Pension and Other Postretirement Benefits The components of net periodic benefit cost were as follows:
|  | Second quarter ended June 30, |  |  | Six months ended June 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Pension benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 22 |  |  | $ | 41 |  |  | $ | 45 |  |  | $ | 81 |
Interest cost |  |  | 58 |  |  |  | 122 |  |  |  | 116 |  |  |  | 244 |
Expected return on plan assets |  |  | (83 | ) |  |  | (186 | ) |  |  | (166 | ) |  |  | (371 | )
Recognized net actuarial loss |  |  | 55 |  |  |  | 102 |  |  |  | 110 |  |  |  | 204 |
Amortization of prior service cost (benefits) |  |  | 2 |  |  |  | 4 |  |  |  | 3 |  |  |  | 8 |
Settlements |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | 2 |
Special termination benefits |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |
Net periodic benefit cost* |  | $ | 54 |  |  | $ | 85 |  |  | $ | 108 |  |  | $ | 169 |
Discontinued operations |  |  | — |  |  |  | 40 |  |  |  | — |  |  |  | 73 |
Net amount recognized in Statement of Consolidated Operations |  | $ | 54 |  |  | $ | 45 |  |  | $ | 108 |  |  | $ | 96 |
|  | Second quarter ended June 30, |  |  | Six months ended June 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Other postretirement benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 2 |  |  | $ | 4 |  |  | $ | 4 |  |  | $ | 7 |
Interest cost |  |  | 7 |  |  |  | 19 |  |  |  | 15 |  |  |  | 37 |
Recognized net actuarial loss |  |  | 1 |  |  |  | 5 |  |  |  | 2 |  |  |  | 11 |
Amortization of prior service cost (benefits) |  |  | (2 | ) |  |  | (7 | ) |  |  | (4 | ) |  |  | (13 | )
Special termination benefits |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Second quarter ended |  |  | Six months ended |
|  | June 30, |  |  | June 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Pension benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net periodic benefit cost* |  | $ | 8 |  |  | $ | 21 |  |  | $ | 17 |  |  | $ | 42 |
Discontinued operations |  |  | — |  |  |  | 13 |  |  |  | — |  |  |  | 25 |
Net amount recognized in Statement of Consolidated Operations |  | $ | 8 |  |  | $ | 8 |  |  | $ | 17 |  |  | $ | 17 |
* | Components of Net periodic benefit cost were included within Cost of goods sold, Selling, general administrative, and other expenses, Research and development expenses and Restructuring and other charges in the Statement of Consolidated Operations.
In conjunction with the Separation Transaction, the Pension Benefit Guaranty Corporation approved management’s plan to separate the Alcoa Inc. pension plans between Arconic Inc. and Alcoa Corporation. The plan stipulates that Arconic will make cash contributions over a period of 30 months to its two largest pension plans. Payments are expected to be made in three increments of no less than $50 each ($150 total) over this 30-month period. The first payment of $50 was made on April 18, 2017.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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