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Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2017
Investments, All Other Investments [Abstract]  
Schedule of Carrying Values and Fair Values of Financial Instruments

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

 

     June 30, 2017      December 31, 2016  
     Carrying      Fair      Carrying      Fair  
     value      value      value      value  

Cash and cash equivalents

    $ 1,785        1,785      $ 1,863      $ 1,863  

Restricted cash

      5        5        15        15  

Derivatives - current asset

      19        19        14        14  

Noncurrent receivables

      20        20        21        21  

Derivatives - noncurrent asset

      12        12        10        10  

Available-for-sale securities

      104        104        102        102  

Investment in common stock of Alcoa Corporation

      —          —          1,020        1,020  

Short-term borrowings

      48        48        36        36  

Derivatives - current liability

      14        14        5        5  

Long-term debt due within one year

      —          —          4        4  

Derivatives - noncurrent liability

      9        9        3        3  

Contingent payment related to an acquisition

      80        80        78        78  

Long-term debt, less amount due within one year

      6,796        7,249        8,044        8,519