<SEC-DOCUMENT>0001157523-19-000954.txt : 20190430
<SEC-HEADER>0001157523-19-000954.hdr.sgml : 20190430
<ACCEPTANCE-DATETIME>20190430080539
ACCESSION NUMBER:		0001157523-19-000954
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190430
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190430
DATE AS OF CHANGE:		20190430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Arconic Inc.
		CENTRAL INDEX KEY:			0000004281
		STANDARD INDUSTRIAL CLASSIFICATION:	ROLLING DRAWING & EXTRUDING OF NONFERROUS METALS [3350]
		IRS NUMBER:				250317820
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03610
		FILM NUMBER:		19778560

	BUSINESS ADDRESS:	
		STREET 1:		390 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-4608
		BUSINESS PHONE:		2128362732

	MAIL ADDRESS:	
		STREET 1:		390 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-4608

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALCOA INC.
		DATE OF NAME CHANGE:	20141003

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALCOA INC
		DATE OF NAME CHANGE:	19990105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALUMINUM CO OF AMERICA
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51976490.htm
<DESCRIPTION>ARCONIC INC. 8-K
<TEXT>
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    <p style="text-align: center">

    </p>
    <hr style="width: 100%; height: 1.0 pt; color: #000000; text-align: center">


    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 18pt"><br style="font-size: 18pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 18pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><font style="font-family: Times New Roman; font-size: 10pt"><b>Washington,
      D.C. 20549</b></font><br>
    </p>
    <hr style="width: 100%; height: 1.0 pt; color: #000000; text-align: center">


    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>FORM 8-K</b></font><br>
    </p>
    <p style="text-align: center">
      <br>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>PURSUANT
      TO SECTION 13 OR 15(d) OF THE</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>SECURITIES
      EXCHANGE ACT OF 1934</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>Date of
      Report (Date of earliest event reported)</b></font><font style="font-family: Times New Roman; font-size: 10pt">:
      </font><font style="font-family: Times New Roman; font-size: 10pt"><b>April
      30, 2019 </b></font><font style="font-family: Times New Roman; font-size: 10pt">(</font><font style="font-family: Times New Roman; font-size: 10pt"><b>April
      30, 2019)</b></font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>ARCONIC
      INC.</b></font><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      name of registrant as specified in its charter)</font><br>
    </p>
    <hr style="width: 100%; height: 1.0 pt; color: #000000; text-align: center">


    <p style="text-align: center">
      <br>

    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="text-align: center; padding-left: 0.0px; width: 33%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; width: 34%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>1-3610</b>
          </p>
        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; width: 33%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>25-0317820</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px; width: 33%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(State or other Jurisdiction</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>of Incorporation)</b>
          </p>
        </td>
        <td style="text-align: center; padding-left: 0.0px; width: 34%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(Commission File Number)</b>
          </p>
        </td>
        <td style="text-align: center; padding-left: 0.0px; width: 33%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(IRS Employer</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Identification No.)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="text-align: center; padding-left: 0.0px; width: 50%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>390 Park Avenue, New York, New York</b>
          </p>
        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; width: 50%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>10022-4608</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px; width: 50%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(Address of Principal Executive Offices)</b>
          </p>
        </td>
        <td style="text-align: center; padding-left: 0.0px; width: 50%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(Zip Code)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <b>Office of Investor Relations 212-836-2758</b><br><b>Office of the
      Secretary 212-836-2732</b><br><b>(Registrant&#8217;s telephone number,
      including area code)</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>(Former
      Name or Former Address, if Changed Since Last Report)</b></font><br><br>
    </p>
    <p style="text-align: center">
      Securities registered pursuant to Section 12(b) of the Act:
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Title of each class</b>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Ticker Symbol</b>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Name of each exchange on which registered</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          Common Stock, par value $1.00 per share
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          ARNC
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          New York Stock Exchange
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          $3.75 Cumulative Preferred Stock,<br>par value $100 per share
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          ARNC PR
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          NYSE American
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Indicate by
      check mark whether the registrant is an emerging growth company as
      defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this
      chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).</font>
    </p>
    <p style="text-align: right">
      <font style="font-size: 10pt">Emerging growth company </font><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">If an
      emerging growth company, indicate by check mark if the registrant has
      elected not to use the extended transition period for complying with any
      new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act.</font> <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>Item 2.02 Results of Operations and Financial Condition.</b>
    </p>
    <p>
      On April 30, 2019, Arconic Inc. issued a press release announcing its
      financial results for the first quarter of 2019.&#160;&#160;A copy of the press
      release is attached hereto as Exhibit 99.1 and is incorporated herein by
      reference.
    </p>
    <p>
      In accordance with General Instruction B.2 of Form 8-K, the information
      in this Current Report on Form 8-K, including Exhibit 99.1, shall not be
      deemed to be &#8220;filed&#8221; for purposes of Section 18 of the Securities
      Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or otherwise
      subject to the liability of that section, and shall not be incorporated
      by reference into any registration statement or other document filed
      under the Securities Act of 1933, as amended, or the Exchange Act,
      except as shall be expressly set forth by specific reference in such
      filing.<br><br><br>
    </p>
    <p>
      <b>Item 9.01 Financial Statements and Exhibits.</b>
    </p>
    <p style="text-align: justify">
      (d) Exhibits
    </p>
    <p style="text-align: justify">
      The following is furnished as an exhibit to this report:
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 10%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Exhibit No</b></u><u>.</u>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 10%" valign="bottom">
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 80%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Description</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 10%">

        </td>
        <td style="width: 10%">

        </td>
        <td style="width: 80%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; width: 10%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <a href="a51976490ex99_1.htm">99.1</a>
          </p>
        </td>
        <td style="width: 10%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 80%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <a href="a51976490ex99_1.htm">Arconic Inc. press release dated
            April 30, 2019.</a>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURE</b></font>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px">

    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            ARCONIC&#160;INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 6%" valign="top">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px; width: 6%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated:
          </p>
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px; width: 44%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            April 30, 2019
          </p>
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px; width: 6%" valign="top">
          By:
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; width: 44%; border-bottom-color: black" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Katherine H. Ramundo
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 6%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Name:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 44%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Katherine H. Ramundo
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 6%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Title:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 44%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Executive Vice President, Chief Legal Officer<br>and Secretary
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
  </body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51976490ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 8pt"><b>Arconic
      Reports First Quarter 2019 Results</b></font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 8pt"><b>First
      Quarter 2019 Highlights</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 8pt">Revenue of
        $3.5 billion, up 3% year over year; organic revenue</font><sup><font style="font-family: Times New Roman; font-size: 8pt">1</font></sup><font style="font-family: Times New Roman; font-size: 8pt">
        up 9% year over year</font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 8pt">Net income
        of $187 million, or $0.39 per share, versus net income of $143
        million, or $0.29 per share, in the first quarter 2018</font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 8pt">Net income
        excluding special items of $208 million, or $0.43 per share, versus
        $169 million, or $0.34 per share, in the first quarter 2018</font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 8pt">Operating
        income of $374 million, up 12% year over year</font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 8pt">Operating
        income excluding special items of $397 million, up 15% year over year</font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 8pt">Operating
        income margin excluding special items up 120 basis points year over
        year</font>
      </li>
    </ul>
    <p>
      <font style="font-family: Times New Roman; font-size: 8pt"><b>2019
      Guidance</b></font><b><sup><font style="font-family: Times New Roman; font-size: 8pt">*
      </font></sup><font style="font-family: Times New Roman; font-size: 8pt">Updated</font></b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 8pt">Updated
        Full Year 2019 Guidance: Revenue $14.3-$14.6 billion, Earnings Per
        Share Excluding Special Items $1.75-$1.90, Adjusted Free Cash Flow
        $650-$750 million</font>
      </li>
    </ul>
    <p>
      <font style="font-family: Times New Roman; font-size: 8pt"><b>Key
      Announcements</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 8pt">Actions
        underway to reduce operating costs by approximately $230 million on a
        run-rate basis &#8211; a $30 million increase from initial $200 million
        target. Approximately $120 million of the savings are expected to be
        captured in 2019.</font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 8pt">Repurchased
        $700 million of common stock; $300 million remains authorized for
        share repurchases through the end of 2020.</font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 8pt">Portfolio
        of each post-separation company defined: Global Rolled Products will
        comprise rolled aluminum products and aluminum extrusions. The
        Engineered Products &amp; Forgings business will include engine
        components, fastening systems and engineered structures. The
        businesses of the current Transportation and Construction Solutions
        segment will be divided &#8211; the Building and Construction Systems
        business will be retained and included in Global Rolled Products, and
        forged aluminum wheels will become part of Engineered Products &amp;
        Forgings.</font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 8pt">Reduced
        quarterly common stock dividend from $0.06 to $0.02 per share.</font>
      </li>
    </ul>
    <p>
      <font style="font-family: Times New Roman; font-size: 8pt">___________________________________</font><font style="font-family: Times New Roman; font-size: 8pt"><br style="font-size: 8pt; font-family: Times New Roman"></font><sup><font style="font-family: Times New Roman; font-size: 8pt">*</font></sup><font style="font-family: Times New Roman; font-size: 8pt">
      </font><i><font style="font-family: Times New Roman; font-size: 8pt">Reconciliations
      of the forward-looking non-GAAP measures to the most directly comparable
      GAAP measures are not available without unreasonable efforts due to the
      variability and complexity of the charges and other components excluded
      from the non-GAAP measures &#8211; for further detail, see &#8220;Updated Full Year
      2019 Guidance&#8221; below.</font></i>
    </p>
    <p>

    </p>
    <p>
      NEW YORK--(BUSINESS WIRE)--April 30, 2019--Arconic Inc. (NYSE: ARNC)
      today reported first quarter 2019 results, for which the Company
      reported revenues of $3.5 billion, up 3% year over year.&#160;Organic revenue<sup>1</sup>&#160;was
      up 9% year over year on strong volumes across all segments and all key
      markets, primarily in the aerospace, defense, commercial transportation,
      automotive, packaging, and building and construction end markets, as
      well as favorable aerospace pricing.
    </p>
    <p>
      Net income in the first quarter 2019 was $187 million, or $0.39 per
      share, versus $143 million, or $0.29 per share, in the first quarter
      2018. Net income excluding special items was $208 million, or $0.43 per
      share, in the first quarter 2019, versus $169 million, or $0.34 per
      share, in the first quarter 2018. Special items in the first quarter
      2019 were $21 million, principally related to charges associated with
      cost reduction initiatives, partially offset by a credit associated with
      the elimination of certain postretirement benefits.
    </p>
    <p>
      First quarter 2019 operating income was $374 million, up 12% year over
      year. Operating income excluding special items was $397 million, up 15%
      year over year, as higher volumes and favorable product pricing more
      than offset the impact of transitioning Tennessee Packaging to
      industrial products.
    </p>
    <p>
      Arconic Chairman and Chief Executive Officer John Plant said, &#8220;In the
      first quarter 2019, the Arconic team improved revenue, expanded margins,
      improved adjusted free cash flow year over year, and delivered the
      highest quarterly adjusted operating income, adjusted earnings per share
      and RONA since 2016 separation. We expect this positive trend to
      continue in the second quarter. As plans for separation move forward, we
      are also acting swiftly to reduce costs to be in line with industry
      leading peers and are targeting the sale of certain businesses that are
      non-core to either of the future entities. These actions will help drive
      the margin performance of the company.&#8221;
    </p>
    <p>
      Arconic ended the first quarter 2019 with cash on hand of $1.3 billion.
      Cash used for operations was $258 million, driven by typical seasonal
      first-quarter build in working capital and semi-annual interest
      payments; cash used for financing activities totaled $741 million,
      reflecting the impact of the accelerated share repurchase program of
      $700 million; and cash provided from investing activities was $42
      million. Adjusted Free Cash Flow for the quarter was negative $266
      million, up $151 million year over year principally due to lower pension
      contributions. In the first quarter 2018, cash used for operations was
      $436 million; cash used for financing activities totaled $542 million;
      and cash provided from investing activities was $29 million.
    </p>
    <p>
      <b>First Quarter 2019 Segment Performance</b>
    </p>
    <p>
      In the first quarter 2019, the Company transferred its aluminum
      extrusions operations from the Engineered Products and Solutions (EP&amp;S)
      segment to the Global Rolled Products (GRP) segment, based on synergies
      with GRP including similar customer base, technologies and manufacturing
      capabilities. Prior period information has been recast to conform to
      current year presentation.
    </p>
    <p>
      <u>Engineered Products and Solutions (EP&amp;S)</u>
    </p>
    <p>
      EP&amp;S reported revenue of $1.5 billion, an increase of 5% year over year.
      Organic revenue<sup>1</sup> was up 7%, driven by aero engine and defense
      growth. Segment operating profit was $253 million, up $44 million or 21%
      year over year, driven by volume increases in high growth aerospace and
      defense markets, favorable aerospace pricing and cost reductions,
      partially offset by aero engines new product introductions. Segment
      operating margin was 16.8%, up 210 basis points year over year.
    </p>
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        </div>
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        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u>Global Rolled Products (GRP)</u>
    </p>
    <p>
      GRP reported revenue of $1.5 billion, an increase of 1% year over year.
      Organic revenue<sup>1</sup> was up 10%. Segment operating profit was
      $107 million, down $17 million or 14% year over year, driven by the
      Tennessee plant transition from packaging to industrial products and
      operational headwinds in aluminum extrusions. These impacts were
      partially offset by higher volumes in packaging, commercial
      transportation, and aerospace, as well as favorable price increases in
      industrial and commercial transportation. Segment operating margin was
      7.1%, down 130 basis points year over year.
    </p>
    <p>
      <u>Transportation and Construction Solutions (TCS)</u>
    </p>
    <p>
      TCS reported revenue of $535 million, relatively flat year over year.
      Organic revenue<sup>1</sup> was up 7%. Segment operating profit was $87
      million, up $20 million or 30% year over year, driven by higher volume
      in commercial transportation and building and construction, as well as
      net cost savings. Segment operating margin was 16.3%, up 380 basis
      points year over year.
    </p>
    <p>
      <b>Updated Full Year 2019 Guidance*</b>
    </p>
    <p>
      Arconic is adjusting its full year 2019 guidance:
    </p>
<div style="text-align:left">
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          &#160;
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        <td>
          &#160;
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        <td>
          &#160;
        </td>
        <td>

        </td>
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          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
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      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>4Q 2018</b>
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Updated 1Q 2019</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Revenue</b>
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="top">
          $14.3-$14.6 billion
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="top">
          $14.3-$14.6 billion
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Earnings Per Share Excluding Special Items*</b>
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $1.55-$1.65
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $1.75-$1.90
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Adjusted Free Cash Flow*</b>
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="top">
          $400-$500 million
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="top">
          $650-$750 million
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      Arconic expects second quarter 2019 earnings per share excluding special
      items to be in a range of $0.46 to $0.51.
    </p>
    <p>
      <b>* </b><i>Arconic has not provided reconciliations of the
      forward-looking non-GAAP financial measures, such as earnings per share
      excluding special items and adjusted free cash flow, to the most
      directly comparable GAAP financial measures.</i> <i>Such reconciliations
      are not available without unreasonable efforts due to the variability
      and complexity with respect to the charges and other components excluded
      from the non-GAAP measures, such as the effects of foreign currency
      movements, equity income, gains or losses on sales of assets, taxes and
      any future restructuring or impairment charges. These reconciling items
      are in addition to the inherent variability already included in the GAAP
      measures, which includes, but is not limited to, price/mix and volume.</i>
      <i>Arconic believes such reconciliations would imply a degree of
      precision that would be confusing or misleading to investors.</i>
    </p>
    <p>
      <b>Actions Underway to Reduce Operating Costs</b>
    </p>
    <p>
      Arconic has increased the annualized cost reduction target to save
      approximately $230 million on a run-rate basis, versus its initial $200
      million target that was announced in February 2019. As a result of
      taking quick action in the first quarter, the Company expects to capture
      approximately $120 million of savings in 2019.
    </p>
    <p>
      <b>Share Buyback of $700 Million is Complete</b>
    </p>
    <p>
      The share buyback of $700 million of common stock announced on February
      19, 2019, is complete. Arconic received 31.9 million shares on February
      21, 2019, and an additional 4.5 million shares on April 29, 2019. The
      average share price was approximately $19.21. Three hundred million
      dollars remains authorized for share repurchases through the end of
      2020. Total shares outstanding as of April 29, 2019 are approximately
      449 million.
    </p>
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          2
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        </div>
      </div>
    </div>
    <p>
      <b>Portfolio of Each Post-Separation Company Defined</b>
    </p>
    <p>
      The Arconic Separation Project Team has fixed the business perimeters of
      the two public companies that will be headquartered in Pittsburgh, PA.
      Global Rolled Products will comprise rolled aluminum products and
      aluminum extrusions. The Engineered Products &amp; Forgings business will
      include engine components, fastening systems and engineered structures.
      The businesses of the current Transportation and Construction Solutions
      segment will be divided &#8211; the Building and Construction Systems business
      will be retained and included in Global Rolled Products, and forged
      aluminum wheels will become part of Engineered Products &amp; Forgings. The
      Company is targeting the initial filing of a Form 10 in the fourth
      quarter 2019 and the completion of the Separation in the second quarter
      2020.
    </p>
    <p>
      <b>Arconic Reduced Quarterly Common Stock Dividend</b>
    </p>
    <p>
      The Arconic Board of Directors approved the reduction of the quarterly
      common stock dividend from $0.06 cents to $0.02 cents per share.
    </p>
    <p>
      <b>Arconic will hold its quarterly conference call at 10:00 AM Eastern
      Time on April 30, 2019, to present first quarter 2019 financial results.
      The call will be webcast via <u>www.arconic.com</u>. Call information
      and related details are available at <u>www.arconic.com</u> under
      &#8220;Investors&#8221;; presentation materials will be available at approximately
      8:00 AM Eastern Time on April 30.</b>
    </p>
    <p>
      <b>About Arconic</b>
    </p>
    <p>
      Arconic (NYSE: ARNC) creates breakthrough products that shape
      industries. Working in close partnership with our customers, we solve
      complex engineering challenges to transform the way we fly, drive, build
      and power. Through the ingenuity of our people and cutting-edge advanced
      manufacturing techniques, we deliver these products at a quality and
      efficiency that ensure customer success and shareholder value. For more
      information: <u>www.arconic.com</u>. Follow @arconic: Twitter,
      Instagram, Facebook, LinkedIn and YouTube.
    </p>
    <p>
      <b>Dissemination of Company Information</b>
    </p>
    <p>
      Arconic intends to make future announcements regarding Company
      developments and financial performance through its website at <u>www.arconic.com</u>.
    </p>
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        </div>
      </div>
    </div>
    <p>
      <b>Forward-Looking Statements</b>
    </p>
    <p>
      This release contains statements that relate to future events and
      expectations and as such constitute forward-looking statements within
      the meaning of the Private Securities Litigation Reform Act of 1995.
      Forward-looking statements include those containing such words as
      &quot;anticipates,&quot; &quot;believes,&quot; &quot;could,&quot; &quot;estimates,&quot; &quot;expects,&quot; &quot;forecasts,&quot;
      &quot;goal,&quot; &quot;guidance,&quot; &quot;intends,&quot; &quot;may,&quot; &quot;outlook,&quot; &quot;plans,&quot; &quot;projects,&quot;
      &quot;seeks,&quot; &quot;sees,&quot; &quot;should,&quot; &quot;targets,&quot; &quot;will,&quot; &quot;would,&quot; or other words of
      similar meaning. All statements that reflect Arconic&#8217;s expectations,
      assumptions or projections about the future, other than statements of
      historical fact, are forward-looking statements, including, without
      limitation, forecasts and expectations relating to the growth of the
      aerospace, defense, automotive, industrials, commercial transportation
      and other end markets; statements and guidance regarding future
      financial results or operating performance; statements regarding future
      strategic actions, including share repurchases, which may be subject to
      market conditions, legal requirements and other considerations; and
      statements about Arconic's strategies, outlook, business and financial
      prospects. These statements reflect beliefs and assumptions that are
      based on Arconic&#8217;s perception of historical trends, current conditions
      and expected future developments, as well as other factors Arconic
      believes are appropriate in the circumstances. Forward-looking
      statements are not guarantees of future performance and are subject to
      risks, uncertainties and changes in circumstances that are difficult to
      predict, which could cause actual results to differ materially from
      those indicated by these statements. Such risks and uncertainties
      include, but are not limited to: (a) uncertainties regarding the planned
      separation, including whether it will be completed pursuant to the
      targeted timing, asset perimeters, and other anticipated terms, if at
      all; (b) the impact of the separation on the businesses of Arconic; (c)
      the risk that the businesses will not be separated successfully or such
      separation may be more difficult, time-consuming or costly than
      expected, which could result in additional demands on Arconic&#8217;s
      resources, systems, procedures and controls, disruption of its ongoing
      business, and diversion of management&#8217;s attention from other business
      concerns; (d) deterioration in global economic and financial market
      conditions generally; (e) unfavorable changes in the markets served by
      Arconic; (f) the inability to achieve the level of revenue growth, cash
      generation, cost savings, improvement in profitability and margins,
      fiscal discipline, or strengthening of competitiveness and operations
      anticipated or targeted; (g) competition from new product offerings,
      disruptive technologies or other developments; (h) political, economic,
      and regulatory risks relating to Arconic&#8217;s global operations, including
      compliance with U.S. and foreign trade and tax laws, sanctions,
      embargoes and other regulations; (i) manufacturing difficulties or other
      issues that impact product performance, quality or safety; (j) Arconic&#8217;s
      inability to realize expected benefits, in each case as planned and by
      targeted completion dates, from acquisitions, divestitures, facility
      closures, curtailments, expansions, or joint ventures; (k) the impact of
      potential cyber attacks and information technology or data security
      breaches; (l) the loss of significant customers or adverse changes in
      customers&#8217; business or financial conditions; (m) adverse changes in
      discount rates or investment returns on pension assets; (n) the impact
      of changes in aluminum prices and foreign currency exchange rates on
      costs and results; (o) the outcome of contingencies, including legal
      proceedings, government or regulatory investigations, and environmental
      remediation, which can expose Arconic to substantial costs and
      liabilities; and (p) the other risk factors summarized in Arconic&#8217;s Form
      10-K for the year ended December 31, 2018 and other reports filed with
      the U.S. Securities and Exchange Commission (SEC). Market projections
      are subject to the risks discussed above and other risks in the market.
      The statements in this release are made as of the date of this release,
      even if subsequently made available by Arconic on its website or
      otherwise. Arconic disclaims any intention or obligation to update
      publicly any forward-looking statements, whether in response to new
      information, future events, or otherwise, except as required by
      applicable law.
    </p>
    <p>
      <b>Non-GAAP Financial Measures</b>
    </p>
    <p>
      Some of the information included in this release is derived from
      Arconic&#8217;s consolidated financial information but is not presented in
      Arconic&#8217;s financial statements prepared in accordance with accounting
      principles generally accepted in the United States of America (GAAP).
      Certain of these data are considered &#8220;non-GAAP financial measures&#8221; under
      SEC rules. These non-GAAP financial measures supplement our GAAP
      disclosures and should not be considered an alternative to the GAAP
      measure. Reconciliations to the most directly comparable GAAP financial
      measures and management&#8217;s rationale for the use of the non-GAAP
      financial measures can be found in the schedules to this release.
    </p>
    <p>
      ___________________________________<br><br><sup><i>1</i></sup><i>
      Organic revenue is U.S. GAAP revenue adjusted for Tennessee Packaging
      (due to its completed phase-down as of year-end 2018), divestitures, and
      changes in aluminum prices and foreign currency exchange rates relative
      to prior year period.</i>
    </p>
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          <b>Arconic and subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="12">
          <b>Statement of Consolidated Operations (unaudited)</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="12">
          <b>(in millions, except per-share and share amounts)</b>
        </td>
      </tr>
      <tr>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="bottom" colspan="10">
          <b>Quarter ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="bottom" colspan="3">
          <b>March 31, 2019</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="bottom" colspan="3">
          <b>December 31, 2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="bottom" colspan="2">
          <b>March 31, 2018</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Sales
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          3,541
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          3,472
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          3,445
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Cost of goods sold (exclusive of expenses below)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2,818
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2,845
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2,768
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Selling, general administrative, and other expenses
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          178
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          140
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          172
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Research and development expenses
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          22
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          26
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          23
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Provision for depreciation and amortization
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          137
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          149
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          142
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="middle">
          Restructuring and other charges<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          12
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (11
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          7
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Operating income
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          374
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          323
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          333
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Interest expense<sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          85
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          87
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          114
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="middle">
          Other expense, net
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          32
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          10
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          20
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Income before income taxes
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          257
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          226
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          199
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="middle">
          Provision for income taxes
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          70
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          8
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          56
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="middle">
          Net income
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          187
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          218
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          143
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          EARNINGS PER SHARE ATTRIBUTABLE TO ARCONIC COMMON SHAREHOLDERS:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Basic<sup>(3)(4)</sup>:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Earnings per share
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.40
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.45
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.30
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Average number of shares<sup>(4)(5)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          470,798,121
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          483,239,287
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          482,438,854
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Diluted<sup>(3)(4)</sup>:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Earnings per share
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.39
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.44
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.29
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Average number of shares<sup>(4)(5)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          489,059,798
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          503,018,904
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          502,924,068
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Common stock outstanding at the end of the period<sup>(5)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          453,093,877
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          483,270,717
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          482,819,135
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(1)</sup>
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Restructuring and other charges for the quarter ended March 31, 2019
          primarily included severance costs of $67, partially offset by a
          credit of $58 related to the elimination of life insurance benefits
          for U.S. salaried and non-bargained hourly retirees of the Company
          and its subsidiaries. Restructuring and other charges for the
          quarter ended December 31, 2018 primarily included a gain of $154 on
          the sale of the Texarkana rolling mill, offset by pension plan
          settlement charges of $92 associated with significant lump sum
          payments made to participants and a loss of $43 on the sale of the
          Eger, Hungary forgings business.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Interest expense for the quarter ended March 31, 2018 included $19
          related to the early redemption of the Company&#8217;s outstanding 5.720%
          Senior Notes due 2019.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          In order to calculate both basic and diluted earnings per share,
          preferred stock dividends declared of $1 for the quarters ended
          March 31, 2019, December 31, 2018, and March 31, 2018 need to be
          subtracted from Net income.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(4)</sup>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          For the quarters ended March 31, 2019, December 31, 2018, and March
          31, 2018, the difference between the respective diluted average
          number of shares and the respective basic average number of shares
          related to share equivalents (18 million, 20 million, and 20
          million, respectively) associated with outstanding employee stock
          options and awards and shares underlying outstanding convertible
          debt (acquired through the acquisition of RTI International Metals,
          Inc (&#8220;RTI&#8221;)).
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(5)</sup>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Basic and diluted average number of shares and Common stock
          outstanding at the end of the period for the quarter ended March 31,
          2019 included the impact of the accelerated share repurchase program
          of the Company&#8217;s common stock.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 8pt; text-align: center">
          5
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="9">
          <b>Arconic and subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="9">
          <b>Consolidated Balance Sheet (unaudited)</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="9">
          <b>(in millions)</b>
        </td>
      </tr>
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="bottom" colspan="3">
          <b>March 31, 2019</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="bottom" colspan="3">
          <b>December 31, 2018</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <b>Assets</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Current assets:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,319
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          2,277
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Receivables from customers, less allowances of $4 in 2019 and 2018
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          1,170
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          1,047
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Other receivables
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          646
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          451
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Inventories
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2,612
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2,492
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="middle">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          306
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          314
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="middle">
          Total current assets
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          6,053
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          6,581
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Properties, plants, and equipment, net<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          5,727
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          5,704
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Goodwill
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          4,509
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          4,500
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          480
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          573
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Intangibles, net
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          912
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          919
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="middle">
          Other noncurrent assets<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          680
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          416
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="middle">
          Total assets
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          18,361
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          18,693
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <b>Liabilities</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Current liabilities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Accounts payable, trade
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          2,193
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          2,129
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Accrued compensation and retirement costs
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          339
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          370
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Taxes, including income taxes
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          114
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          118
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Accrued interest payable
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          97
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          113
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Other current liabilities<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          481
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          356
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="middle">
          Short-term debt
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          435
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          434
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="middle">
          Total current liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          3,659
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          3,520
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Long-term debt, less amount due within one year
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          5,899
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          5,896
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Accrued pension benefits
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2,172
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2,230
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Accrued other postretirement benefits
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          636
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          723
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="middle">
          Other noncurrent liabilities and deferred credits<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          817
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          739
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="middle">
          Total liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          13,183
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          13,108
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <b>Equity</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Arconic shareholders&#8217; equity:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Preferred stock
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          55
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          55
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Common stock<sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          453
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          483
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Additional capital<sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          7,644
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          8,319
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Accumulated deficit<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (134
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (358
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="middle">
          Accumulated other comprehensive loss
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (2,852
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (2,926
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Total Arconic shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          5,166
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          5,573
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="middle">
          Noncontrolling interests
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          12
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          12
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="middle">
          Total equity
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          5,178
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          5,585
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="middle">
          Total liabilities and equity
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          18,361
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          18,693
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(1)</sup>
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Effective January 1, 2019, Arconic adopted the new accounting
          standard for leases that resulted in the Company recording operating
          lease right-of-use assets and lease liabilities of approximately
          $320. Also, the Company reclassified cash proceeds of $119 from
          Other noncurrent liabilities and deferred credits, assets of $24
          from Properties, plants, and equipment, net, and a deferred tax
          asset of $22 from Other noncurrent assets to Accumulated deficit
          reflecting the cumulative effect of an accounting change related to
          the deferred gain resulting from the sale-leaseback of the
          Texarkana, Texas cast house in October of 2018. The adoption of the
          standard had no impact on the Statement of Consolidated Operations
          or Statement of Consolidated Cash Flows.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Reflects the impact of the accelerated share repurchase program of
          the Company&#8217;s common stock.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 8pt; text-align: center">
          6
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="9">
          <b>Arconic and subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="9">
          <b>Statement of Consolidated Cash Flows (unaudited)</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="9">
          <b>(in millions)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="bottom" colspan="7">
          <b>Three months ended March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <b>2019</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <b>2018</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <b>Operating activities</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Net income
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          187
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          143
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Adjustments to reconcile net income to cash used for operations:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          137
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          142
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          18
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Restructuring and other charges
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          12
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Net loss from investing activities&#8212;asset sales
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Net periodic pension benefit cost
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          29
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          41
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Stock-based compensation
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          10
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          15
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Other
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          11
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          49
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Changes in assets and liabilities, excluding effects of
          acquisitions, divestitures, and foreign currency translation
          adjustments:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          (Increase) in receivables
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (489
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (403
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          (Increase) in inventories
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (118
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (141
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          (Increase) in prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (14
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (12
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Increase in accounts payable, trade
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          65
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          14
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          (Decrease) in accrued expenses
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (69
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (118
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Increase in taxes, including income taxes
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          47
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          8
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Pension contributions
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (55
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (177
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          (Increase) decrease in noncurrent assets
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (1
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="middle">
          (Decrease) in noncurrent liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (20
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (26
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="middle">
          <b>Cash used for operations</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (258
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (436
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <b>Financing Activities</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Net change in short-term borrowings (original maturities of three
          months or less)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Additions to debt (original maturities greater than three months)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          150
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          150
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Payments on debt (original maturities greater than three months)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (151
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (651
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Premiums paid on early redemption of debt
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (17
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Proceeds from exercise of employee stock options
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          12
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Dividends paid to shareholders
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (29
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (30
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Repurchases of common stock<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (700
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="middle">
          Other
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (13
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (11
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="middle">
          <b>Cash used for financing activities</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (741
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (542
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <b>Investing Activities</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Capital expenditures
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (168
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (117
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Proceeds from the sale of assets and businesses
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Sales of investments
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          47
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          9
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Cash receipts from sold receivables
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          160
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          136
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="middle">
          Other
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (1
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          1
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="middle">
          <b>Cash provided from investing activities</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          42
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          29
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          <b>Effect of exchange rate changes on cash, cash equivalents and
          restricted cash</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          4
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Net change in cash, cash equivalents and restricted cash
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (956
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (945
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="middle">
          Cash, cash equivalents and restricted cash at beginning of year
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          2,282
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          2,153
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="middle">
          <b>Cash, cash equivalents and restricted cash at end of period</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          1,326
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          1,208
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(1)</sup>
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          On February 19, 2019, Arconic entered into an accelerated share
          repurchase (ASR) agreement with JPMorgan Chase Bank to repurchase
          $700 of its common stock. Under the ASR agreement, Arconic received
          an initial delivery of approximately 32 million shares on February
          21, 2019, which were immediately retired. On April 25, 2019, the ASR
          concluded with the Company receiving approximately 4 million
          additional shares on April 29, 2019. A total of 36 million shares,
          at an average price of $19.21 per share, were repurchased under the
          agreement.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 8pt; text-align: center">
          7
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td colspan="25">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="25">
          <b>Arconic and subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="25">
          <b>Segment Information (unaudited)</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="25">
          <b>(in millions)</b>
        </td>
      </tr>
      <tr>
        <td colspan="25">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; border-bottom-color: black" valign="middle" colspan="3">
          <b>1Q18</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; border-bottom-color: black" valign="middle" colspan="3">
          <b>2Q18</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; border-bottom-color: black" valign="middle" colspan="3">
          <b>3Q18</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; border-bottom-color: black" valign="middle" colspan="3">
          <b>4Q18</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; border-bottom-color: black" valign="middle" colspan="3">
          <b>1Q19</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Engineered Products and Solutions:</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Third-party sales
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,426
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,474
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,445
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,487
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          5,832
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,502
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Segment operating profit
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          209
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          224
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          235
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          216
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          884
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          253
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Segment operating profit margin
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          14.7
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          15.2
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          16.3
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          14.5
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          15.2
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          16.8
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Provision for depreciation and amortization
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          65
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          65
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          65
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          64
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          259
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          64
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; border-bottom-color: black" valign="middle">
          Restructuring and other charges
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          1
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          8
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          16
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          46
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          71
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          14
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Global Rolled Products:</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Third-party sales
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,481
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,573
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,547
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,487
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          6,088
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,503
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Intersegment sales
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          57
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          61
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          44
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          45
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          207
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          55
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Segment operating profit<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          124
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          111
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          77
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          81
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          393
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          107
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Segment operating profit margin
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          8.4
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          7.1
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          5.0
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          5.4
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          6.5
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          7.1
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Provision for depreciation and amortization
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          56
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          59
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          56
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          64
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          235
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          54
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Restructuring and other charges
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (1
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (159
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (156
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          6
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; border-bottom-color: black" valign="middle">
          Third-party aluminum shipments (kmt)
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          322
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          330
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          330
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          319
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          1,301
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          331
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Transportation and Construction Solutions:</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Third-party sales
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          537
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          562
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          530
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          497
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          2,126
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          535
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Segment operating profit
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          67
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          97
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          77
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          63
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          304
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          87
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Segment operating profit margin
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          12.5
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          17.3
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          14.5
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          12.7
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          14.3
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          16.3
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Provision for depreciation and amortization
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          13
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          12
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          12
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          13
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          50
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          13
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; border-bottom-color: black" valign="middle">
          Restructuring and other charges
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          1
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          1
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          9
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <b>Reconciliation of Total segment operating profit to Consolidated
          income before income taxes:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Total segment operating profit
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          400
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          432
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          389
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          360
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,581
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          447
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Unallocated amounts:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Restructuring and other charges
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (7
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (15
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          11
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (9
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (12
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 10.0px; border-bottom-color: black" valign="middle">
          Corporate expense<sup>(2)</sup>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (60
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (93
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (46
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (48
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (247
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (61
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Consolidated operating income
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          333
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          324
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          345
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          323
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          1,325
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          374
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Interest expense<sup>(3)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (114
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (89
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (88
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (87
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (378
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (85
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; border-bottom-color: black" valign="middle">
          Other expense, net
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (20
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (41
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (8
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (10
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (79
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (32
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; border-bottom-color: black" valign="middle">
          Consolidated income before income taxes
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          199
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          194
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          249
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          226
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          868
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          257
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      In the first quarter of 2019, the Company transferred its aluminum
      extrusions operations from the Arconic Engineered Structures business
      unit within the Engineered Products and Solutions segment to the Global
      Rolled Products segment. Prior period financial information has been
      recast to conform to current year presentation. Segment performance
      under Arconic&#8217;s management reporting system is evaluated based on a
      number of factors; however, the primary measure of performance is
      Segment operating profit. Arconic&#8217;s definition of Segment operating
      profit is Operating income excluding Special items. Special items
      include Restructuring and other charges. Segment operating profit
      includes the impact of LIFO inventory accounting, metal price lag,
      intersegment profit eliminations, and derivative activities. Differences
      between certain segment totals and consolidated Arconic are in Corporate.
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(1)</sup>
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          For the quarter ended June 30, 2018, Segment operating profit for
          the Global Rolled Products segment included the impact of a $23
          charge related to a physical inventory adjustment at one plant.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          For the quarter ended June 30, 2018, Corporate expense included $38
          of costs related to settlements of certain customer claims primarily
          related to product introductions.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          For quarter ended March 31, 2018, Interest expense included $19
          related to the early redemption of the Company&#8217;s outstanding 5.720%
          Senior Notes due 2019.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 8pt; text-align: center">
          8
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="13">
          <b>Arconic and subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="13">
          <b>Calculation of Financial Measures (unaudited)</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="13">
          <b>(in millions, except per-share amounts)</b>
        </td>
      </tr>
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top" rowspan="2">
          <b>Net income excluding Special items</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="top" colspan="11">
          <b>Quarter ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>March 31,</b><br><b>2019</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>December 31,</b><br><b>2018</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>March 31,</b><br><b>2018</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Net income
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          187
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          218
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          143
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Diluted earnings per share (EPS)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.39
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.44
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.29
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Special items:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Restructuring and other charges
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          12
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (11
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Discrete tax items<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (64
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Other special items<sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          12
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          16
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          25
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="middle">
          Tax impact<sup>(3)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (4
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          3
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (8
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="middle">
          Net income excluding Special items
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          208
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          162
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          169
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="middle">
          Diluted EPS excluding Special items
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          0.43
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          0.33
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          0.34
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Average number of shares - diluted EPS excluding Special items<sup>(4)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          489,059,798
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          503,018,904
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          502,924,068
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      Net income excluding Special items and Diluted EPS excluding Special
      items are non-GAAP financial measures. Management believes that these
      measures are meaningful to investors because management reviews the
      operating results of Arconic excluding the impacts of Restructuring and
      other charges, Discrete tax items, and Other special items
      (collectively, &#8220;Special items&#8221;). There can be no assurances that
      additional special items will not occur in future periods. To compensate
      for this limitation, management believes that it is appropriate to
      consider both Net income determined under GAAP as well as Net income
      excluding Special items.
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(1)</sup>
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="3">
          Discrete tax items for each period included the following:
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          &#8226;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          for the quarter ended March 31, 2019, a charge for a number of small
          items ($1);
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          &#8226;
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          for the quarter ended December 31, 2018, a benefit related to
          certain prior year foreign investment losses no longer recapturable
          ($74), a benefit to record prior year adjustments in various
          jurisdictions ($17), a benefit to release valuation allowances and
          revalue deferred taxes due to current year tax law and tax rate
          changes in various U.S. states ($12), a benefit to recognize the tax
          impact of prior year foreign losses in continuing operations that
          were supported by foreign income in other comprehensive income ($6),
          partially offset by a charge from the Company&#8217;s finalized analysis
          of the U.S. Tax Cuts and Jobs Act of 2017 ($45); and
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          &#8226;
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          for the quarter ended March 31, 2018, a charge for a number of small
          items ($2).
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="3">
          Other special items for each period included the following:
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          &#8226;
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          for the quarter ended March 31, 2019, strategy and portfolio review
          costs ($6), costs associated with the planned separation of Arconic
          ($3), legal and other advisory costs related to Grenfell Tower ($2),
          and a charge for a number of small tax items ($1);
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          &#8226;
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          for the quarter ended December 31, 2018, strategy and portfolio
          review costs ($7), legal and other advisory costs related to
          Grenfell Tower ($4), a charge for a number of small tax items ($4),
          and an other charge ($1); and
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          &#8226;
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          for the quarter ended March 31, 2018, costs related to the early
          redemption of the Company&#8217;s outstanding 5.720% Senior Notes due 2019
          ($19), legal and other advisory costs related to Grenfell Tower
          ($5), and a charge for a number of small tax items ($1);
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          The tax impact on Special items is based on the applicable statutory
          rates whereby the difference between such rates and Arconic&#8217;s
          consolidated estimated annual effective tax rate is itself a Special
          item.
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(4)</sup>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          The average number of shares applicable to diluted EPS excluding
          Special items, includes certain share equivalents as their effect
          was dilutive. For all periods presented, share equivalents
          associated with outstanding employee stock options and awards and
          shares underlying outstanding convertible debt (acquired through the
          acquisition of RTI) were dilutive based on Net income excluding
          Special items. The average number of shares applicable to diluted
          EPS excluding Special items for the quarter ended March 31, 2019
          included the impact of the accelerated share repurchase program of
          the Company&#8217;s common stock.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 8pt; text-align: center">
          9
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="11">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top" rowspan="2">
          <b>Operational Tax Rate</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="top" colspan="11">
          <b>Quarter ended March 31, 2019</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="bottom" colspan="3">
          <b>As reported</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Special</b><br><b>items<sup>(1)</sup></b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="bottom" colspan="3">
          <b>As adjusted</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Income before income taxes
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          257
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          23
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          280
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Provision for income taxes
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          70
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          72
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Operational tax rate
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          27.2
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          25.7
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
    </table>
    </div>
    <p>
      Operational tax rate is a non-GAAP financial measure. Management
      believes that this measure is meaningful to investors because management
      reviews the operating results of Arconic excluding the impacts of
      Special items. There can be no assurances that additional Special items
      will not occur in future periods. To compensate for this limitation,
      management believes that it is appropriate to consider both the
      Effective tax rate determined under GAAP as well as the Operational tax
      rate.
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <sup>(1)</sup>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          See Net income excluding Special items reconciliation above for a
          description of Special items.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 8pt; text-align: center">
          10
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td colspan="16">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="16">
          <b>Arconic and subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="16">
          <b>Calculation of Financial Measures (unaudited), continued</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="16">
          <b>(dollars in millions)</b>
        </td>
      </tr>
      <tr>
        <td colspan="16">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <b>Organic Revenue</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="7">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Quarter ended</b><br><b>March 31,</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="6">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Quarter ended</b><br><b>December 31,</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <b>2019</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Arconic</u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Sales &#8211; Arconic
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          3,541
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          3,445
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          3,472
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          3,271
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Less:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Sales &#8211; Tennessee packaging
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          43
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          18
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          40
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Sales &#8211; Eger forgings
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          10
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          12
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Sales &#8211; Latin America extrusions
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          25
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          29
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Aluminum price impact
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (59
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="3">
          n/a
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (28
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          n/a
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="middle">
          Foreign currency impact
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (55
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          n/a
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (26
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          n/a
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 10.0px" valign="middle">
          Arconic Organic revenue
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          3,655
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          3,367
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          3,502
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          3,190
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Engineered Products and Solutions (EP&amp;S)</u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Sales
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,502
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,426
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,487
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,378
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Less:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Sales &#8211; Eger forgings
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          10
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          12
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Aluminum price impact
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (2
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="3">
          n/a
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (4
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          n/a
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="middle">
          Foreign currency impact
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (13
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          n/a
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (6
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          n/a
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 10.0px" valign="middle">
          EP&amp;S Organic revenue
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          1,517
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          1,416
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          1,491
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          1,366
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Global Rolled Products (GRP)</u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Sales
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,503
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,481
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,487
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,363
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Less:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Sales &#8211; Tennessee packaging
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          43
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          18
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          40
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Aluminum price impact
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (58
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="3">
          n/a
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (10
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          n/a
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="middle">
          Foreign currency impact
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (26
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          n/a
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (13
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          n/a
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 10.0px" valign="middle">
          GRP Organic revenue
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          1,587
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          1,438
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          1,492
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          1,323
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Transportation and Construction Solutions (TCS)</u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Sales
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          535
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          537
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          497
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          528
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Less:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Sales &#8211; Latin America extrusions
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          25
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          29
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="middle">
          Aluminum price impact
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="3">
          n/a
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (14
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          n/a
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="middle">
          Foreign currency impact
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (16
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          n/a
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (7
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          n/a
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 10.0px" valign="middle">
          TCS Organic revenue
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          550
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          512
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          518
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          499
        </td>
      </tr>
    </table>
    </div>
    <p>
      Organic revenue is a non-GAAP financial measure. Management believes
      this measure is meaningful to investors as it presents revenue on a
      comparable basis for all periods presented due to the impact of the
      ramp-down of Arconic's North American packaging business at its
      Tennessee operations (completed in December 2018), the sale of the
      forgings business in Eger, Hungary (divested in December 2018), the sale
      of Latin America extrusions (divested in April 2018), and the impact of
      changes in aluminum prices and foreign currency fluctuations relative to
      the prior year periods.
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 8pt; text-align: center">
          11
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="13">
          <b>Arconic and subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="13">
          <b>Calculation of Financial Measures (unaudited), continued</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="13">
          <b>(dollars in millions)</b>
        </td>
      </tr>
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top" rowspan="2">
          <b>Adjusted free cash flow</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="top" colspan="11">
          <b>Quarter ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>March 31,</b><br><b>2019</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>December 31,</b><br><b>2018</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>March 31,</b><br><b>2018</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Cash (used for) provided from operations
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (258
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          426
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (436
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Cash receipts from sold receivables
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          160
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          323
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          136
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Capital expenditures
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (168
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (271
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          (117
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Adjusted free cash flow
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          (266
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          478
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          (417
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
    </table>
    </div>
    <p>
      There has been no change in the net cash funding in the sale of accounts
      receivable program in the first quarter of 2019.&#160;It remains at $350.
    </p>
    <p>
      Adjusted free cash flow is a non-GAAP financial measure. Management
      believes that this measure is meaningful to investors because management
      reviews cash flows generated from operations after taking into
      consideration capital expenditures (due to the fact that these
      expenditures are considered necessary to maintain and expand Arconic&#8217;s
      asset base and are expected to generate future cash flows from
      operations), as well as cash receipts from net sales of beneficial
      interest in sold receivables. It is important to note that Adjusted free
      cash flow does not represent the residual cash flow available for
      discretionary expenditures since other non-discretionary expenditures,
      such as mandatory debt service requirements, are not deducted from the
      measure.
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <b>Net Debt</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>March 31,</b><br><b>2019</b>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>December 31,</b><br><b>2018</b>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>September 30,</b><br><b>2018</b>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>June 30,</b><br><b>2018</b>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>March 31,</b><br><b>2018</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Short-term debt
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          435
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          434
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          42
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          45
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          45
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="middle">
          Long-term debt, less amount due within one year
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          5,899
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          5,896
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          6,315
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          6,312
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          6,309
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Total debt
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          6,334
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          6,330
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          6,357
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          6,357
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          6,354
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="middle">
          Less: Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          1,319
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          2,277
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          1,535
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          1,455
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          1,205
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="middle">
          Net debt
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          5,015
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          4,053
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          4,822
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          4,902
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          5,149
        </td>
      </tr>
    </table>
    </div>
    <p>
      Net debt is a non-GAAP financial measure. Management believes that this
      measure is meaningful to investors because management assesses Arconic&#8217;s
      leverage position after factoring in available cash that could be used
      to repay outstanding debt.
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 8pt; text-align: center">
          12
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="13">
          <b>Arconic and subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="13">
          <b>Calculation of Financial Measures (unaudited), continued</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="13">
          <b>(dollars in millions)</b>
        </td>
      </tr>
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top" rowspan="2">
          <b>Operating income excluding Special items</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="top" colspan="11">
          <b>Quarter ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>March 31,</b><br><b>2019</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>December 31,</b><br><b>2018</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>March 31,</b><br><b>2018</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Operating income
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          374
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          323
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          333
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Special items:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Restructuring and other charges
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          12
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          (11
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Costs associated with planned separation
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Legal and other advisory costs related to Grenfell Tower
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="middle">
          Strategy and portfolio review costs
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          6
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          7
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          &#8212;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="middle">
          Operating income excluding Special items
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          397
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          323
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          345
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Sales
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          3,541
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          3,472
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          3,445
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Operating income margin, excluding Special items
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          11.2
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          9.3
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          10.0
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
    </table>
    </div>
    <p>
      Operating income and Operating income margin, excluding Special items
      are non-GAAP financial measures. Management believes that these measures
      are meaningful to investors because management reviews the operating
      results of Arconic excluding the impacts of Special items. There can be
      no assurances that additional Special items will not occur in future
      periods. To compensate for this limitation, management believes that it
      is appropriate to consider both Operating income determined under GAAP
      as well as Operating income excluding Special items.
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" rowspan="2">
          <b>Return on Net Assets (RONA)</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="3">
          <b>Quarter ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="bottom" colspan="3">
          <b>March 31, 2019</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Net income
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          187
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="bottom">
          Special items<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          21
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">
          Net income excluding Special items
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          208
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Annualized net income excluding Special items
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          832
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">
          Net Assets:
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black" valign="bottom" colspan="3">
          <b>March 31, 2019</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Add: Receivables from customers, less allowances
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,170
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Add: Deferred purchase program<sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          430
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Add: Inventories
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2,612
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="bottom">
          Less: Accounts payable, trade
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          2,193
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Working capital
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom" colspan="2">
          2,019
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="bottom">
          Properties, plants, and equipment, net (PP&amp;E)
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          5,727
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Net assets - total
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          7,746
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">
          RONA
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom" colspan="2">
          10.7
        </td>
        <td style="border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-color: black" valign="bottom">
          %
        </td>
      </tr>
    </table>
    </div>
    <p>
      RONA is a non-GAAP financial measure.&#160;RONA is calculated as Net income
      excluding Special items divided by working capital and net PP&amp;E.
      Management believes that this measure is meaningful to investors as RONA
      helps management and investors determine the percentage of net income
      the company is generating from its assets. This ratio tells how
      effectively and efficiently the company is using its assets to generate
      earnings.
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(1)</sup>
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          See Reconciliation of Net income excluding Special items for a
          description of Special items.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          The Deferred purchase program relates to an arrangement to sell
          certain customer receivables to several financial institutions on a
          recurring basis. Arconic is adding back the receivable for the
          purposes of the Working capital calculation.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br><b>Investors</b><br>Paul T. Luther<br>(212) 836-2758<br><u>Paul.Luther@arconic.com</u>
    </p>
    <p>
      <b>Media</b><br>Esra Ozer<br>(412) 553-2666<br><u>Esra.Ozer@arconic.com</u>
    </p>
    <p style="text-align: center">
      <br>
      13
    </p>
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</DOCUMENT>
</SEC-DOCUMENT>
