XML 53 R35.htm IDEA: XBRL DOCUMENT
v3.20.4

Arconic Inc Separation Transaction and Discontinued Operations (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Restructuring and Related Activities [Abstract] |
Summary of Discontinued Operations | The results of operations of Arconic Corporation are presented as discontinued operations in the Statement of Consolidated Operations as summarized below:
| Year ended December 31,
|  | 2020 |  | 2019 |  | 2018
Sales |  | $ | 1,576 |  |  | $ | 7,094 |  |  | $ | 7,236 |
Cost of goods sold |  | 1,292 |  |  | 6,013 |  |  | 6,283 |
Selling, general administrative, research and development and other expenses |  | 106 |  |  | 346 |  |  | 295 |
Provision for depreciation and amortization |  | 59 |  |  | 241 |  |  | 262 |
Restructuring and other charges (credits) |  | (18) |  |  | 38 |  |  | (154) |
Interest expense |  | 7 |  |  | — |  |  | 1 |
Other expense, net |  | 42 |  |  | 91 |  |  | 109 |
Income from discontinued operations |  | 88 |  |  | 365 |  |  | 440 |
Provision for income taxes |  | 38 |  |  | 21 |  |  | 107 |
Income from discontinued operations after income taxes |  | $ | 50 |  |  | $ | 344 |  |  | $ | 333 |
The following table presents purchases of properties, plant and equipment (capital expenditures), proceeds from the sale of businesses and provision for depreciation and amortization of discontinued operations related to Arconic Corporation:
| Year ended December 31,
|  | 2020 |  | 2019 |  | 2018
Capital expenditures |  | $ | 72 |  |  | $ | 210 |  |  | $ | 308 |
Proceeds from the sales of businesses |  | $ | 112 |  |  | $ | 20 |  |  | $ | 309 |
Provision for depreciation and amortization |  | $ | 59 |  |  | $ | 241 |  |  | $ | 262 |
The carrying amount of the major classes of assets and liabilities related to Arconic Corporation classified as assets and liabilities of discontinued operations in the Consolidated Balance Sheet consisted of the following:
|  | December 31, 2019
Total Assets of Discontinued Operations |  |
Cash and cash equivalents |  | $ | 71 |
Receivables from customers |  | 385 |
Other receivables |  | 135 |
Inventories |  | 822 |
Prepaid expenses and other current assets |  | 29 |
Current assets of discontinued operations |  | 1,442 |
Properties, plants, and equipment, net |  | 2,834 |
Goodwill |  | 426 |
Intangibles, net |  | 60 |
Deferred income taxes |  | 383 |
Other noncurrent assets |  | 196 |
Noncurrent assets of discontinued operations |  | 3,899 |
Total assets of discontinued operations |  | $ | 5,341 |
Total Liabilities of Discontinued Operations: |  |
Accounts payable, trade |  | $ | 1,067 |
Accrued compensation and retirement costs |  | 147 |
Taxes, including income taxes |  | 22 |
Other current liabilities |  | 188 |
Current liabilities of discontinued operations |  | 1,424 |
Accrued pension benefits |  | 1,429 |
Accrued other postretirement benefits |  | 514 |
Other noncurrent liabilities and deferred credits |  | 315 |
Noncurrent liabilities of discontinued operations |  | 2,258 |
Total liabilities of discontinued operations |  | $ | 3,682 |

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

X
- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration