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Quarterly Data | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Data | See Note U for updates on the planned Separation of Arconic. On February 25, 2020, the Company announced that its current Chief Executive Officer, John C. Plant, and Tolga Oal, who currently serves as President of the Company’s Engineered Structures business unit, will serve as Co-Chief Executive Officers of the Company following the Separation of Arconic. Until the Separation of Arconic, Mr. Plant will continue to serve as sole Chief Executive Officer of the Company and Mr. Oal will hold the title of Co-Chief Executive Officer Designate. Mr. Plant will serve as Executive Chairman of the Board of Directors of Howmet Aerospace following the Separation of Arconic. Supplemental Financial Information (unaudited) Quarterly Data (in millions, except per-share amounts)
| First | Second(2) | Third | Fourth(3) | Year
2019 |  |  |  |  |
Sales | $ | 3,541 |  | $ | 3,691 |  | $ | 3,559 |  | $ | 3,401 |  | $ | 14,192 |
Net income (loss) | $ | 187 |  | $ | (121 | ) | $ | 95 |  | $ | 309 |  | $ | 470 |
Earnings (loss) per share attributable to Arconic common shareholders(1): |  |  |  |  |
Basic |  |  |  |  |
Net income (loss) per share—basic | $ | 0.40 |  | $ | (0.27 | ) | $ | 0.22 |  | $ | 0.71 |  | $ | 1.05 |
Diluted |  |  |  |  |
Net income (loss) per share—diluted | $ | 0.39 |  | $ | (0.27 | ) | $ | 0.21 |  | $ | 0.70 |  | $ | 1.03 |
2018 |  |  |  |  |
Sales | $ | 3,445 |  | $ | 3,573 |  | $ | 3,524 |  | $ | 3,472 |  | $ | 14,014 |
Net income | $ | 143 |  | $ | 120 |  | $ | 161 |  | $ | 218 |  | $ | 642 |
Earnings per share attributable to Arconic common shareholders(1): |  |  |  |  |
Basic |  |  |  |  |
Net income per share—basic | $ | 0.30 |  | $ | 0.25 |  | $ | 0.33 |  | $ | 0.45 |  | $ | 1.33 |
Diluted |  |  |  |  |
Net income per share—basic | $ | 0.29 |  | $ | 0.24 |  | $ | 0.32 |  | $ | 0.44 |  | $ | 1.30 |
(1) | Per share amounts are calculated independently for each period presented; therefore, the sum of the quarterly per share amounts may not equal the per share amounts for the year.
(2) | In the second quarter of 2019, the Company recorded an impairment charge of $428 related to its disks business (see Note M).
(3) In the fourth quarter of 2019, the Company incurred costs associated with the planned Separation of Arconic of $28 ($34 pre-tax), recorded a gain for contingent consideration received related to the 2018 sale of the Texarkana rolling mill of $15 ($20 pre-tax), and recorded several discrete tax items principally related to a benefit for a U.S. tax election which caused the deemed liquidation of a foreign subsidiary’s assets into its U.S. tax parent. In the fourth quarter of 2018, Arconic recorded a gain of $119 ($154 pre-tax) on the sale of the Texarkana rolling mill, offset by pension plan settlement charges of $72 ($92 pre-tax) associated with significant lump sum payments made to participants and a loss of $39 ($43 pre-tax) on the sale of the forging business in Hungary. Additionally, Arconic recorded discrete tax items primarily comprised of a benefit related to certain prior year foreign investment losses no longer recapturable.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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