XML 39 R23.htm IDEA: XBRL DOCUMENT
v3.19.3

Debt | 9 Months Ended
--- | ---
Sep. 30, 2019
Debt Disclosure [Abstract] |
Debt | Debt
| September 30, 2019 |  | December 31, 2018
1.63% Convertible Notes, due 2019 | 403 |  |  | 403 |
6.150% Notes, due 2020 | 1,000 |  |  | 1,000 |
5.40% Notes due 2021 | 1,250 |  |  | 1,250 |
5.87% Notes, due 2022 | 627 |  |  | 627 |
5.125% Notes, due 2024 | 1,250 |  |  | 1,250 |
5.90% Notes, due 2027 | 625 |  |  | 625 |
6.75% Bonds, due 2028 | 300 |  |  | 300 |
5.95% Notes, due 2037 | 625 |  |  | 625 |
Iowa Finance Authority Loan, due 2042 | 250 |  |  | 250 |
Other(1) | (21 | ) |  | (29 | )
| 6,309 |  |  | 6,301 |
Less: amount due within one year | 1,404 |  |  | 405 |
Total long-term debt | $ | 4,905 |  |  | $ | 5,896 |
(1) | Includes various financing arrangements related to subsidiaries, unamortized debt discounts related to outstanding notes and bonds listed in the table above, an equity option related to the convertible notes due in 2019, and unamortized debt issuance costs.
Public Debt. On October 15, 2019, the 1.63% Convertible Notes ("the Notes") matured in accordance with their terms and the Company repaid in cash on the maturity date the aggregate outstanding principal amount of the Notes of approximately $403 together with accrued and unpaid interest, pursuant to the terms of the Notes. Credit Facilities. Arconic maintains a Five-Year Revolving Credit Agreement (the “Credit Agreement”) with a syndicate of lenders and issuers named therein that matures on June 29, 2023 and provides for a senior unsecured revolving credit facility of $3,000. There were no amounts outstanding at September 30, 2019 or December 31, 2018, and no amounts were borrowed during 2019 or 2018 under the Credit Agreement. In addition to the Credit Agreement, Arconic has a number of other credit agreements that provide a combined borrowing capacity of $715 as of September 30, 2019, of which $175 is due to expire in 2019 and $540 is due to expire in 2020. The purpose of any borrowings under these credit arrangements is to provide for working capital requirements and for other general corporate purposes. The covenants contained in all these arrangements are the same as the Credit Agreement. During the nine months ended September 30, 2019, Arconic borrowed and repaid $300 and $300, respectively, under these other credit facilities. The weighted-average interest rate and weighted-average days outstanding during the third quarter and nine months ended September 30, 2019 were 3.7% and 70 days and 3.8% and 46 days, respectively.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration