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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Schedule of Operating Results of Arconic's Reportable Segments | The operating results of the Company’s reportable segments were as follows:
| Engine Products |  | Fastening Systems |  | Engineered Structures |  | Forged Wheels |  | Total Segment
First quarter ended March 31, 2023 |  |  |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |  |  |
Third-party sales | $ | 795 |  |  | $ | 312 |  |  | $ | 207 |  |  | $ | 289 |  |  | $ | 1,603 |
Inter-segment sales | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |
Total sales | $ | 797 |  |  | $ | 312 |  |  | $ | 207 |  |  | $ | 289 |  |  | $ | 1,605 |
Profit and loss: |  |  |  |  |  |  |  |  |
Provision for depreciation and amortization | $ | 32 |  |  | $ | 11 |  |  | $ | 12 |  |  | $ | 9 |  |  | $ | 64 |
Segment Adjusted EBITDA | 212 |  |  | 58 |  |  | 30 |  |  | 79 |  |  | 379 |
Restructuring and other charges | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Capital expenditures | 33 |  |  | 9 |  |  | 10 |  |  | 9 |  |  | 61 |
First quarter ended March 31, 2022 |  |  |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |  |  |
Third-party sales | $ | 631 |  |  | $ | 264 |  |  | $ | 182 |  |  | $ | 247 |  |  | $ | 1,324 |
Inter-segment sales | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 2 |
Total sales | $ | 632 |  |  | $ | 264 |  |  | $ | 183 |  |  | $ | 247 |  |  | $ | 1,326 |
Profit and loss: |  |  |  |  |  |  |  |  |
Provision for depreciation and amortization | $ | 31 |  |  | $ | 12 |  |  | $ | 12 |  |  | $ | 10 |  |  | $ | 65 |
Segment Adjusted EBITDA | 173 |  |  | 56 |  |  | 23 |  |  | 67 |  |  | 319 |
Restructuring and other charges (credits) | 3 |  |  | (3) |  |  | 2 |  |  | — |  |  | 2 |
Capital expenditures | 27 |  |  | 15 |  |  | 7 |  |  | 9 |  |  | 58 |
Schedule of Segment Reporting Information to Consolidated Income Before income Taxes | The following table reconciles Total Segment Adjusted EBITDA to Income before income taxes. Differences between the total segment and consolidated totals are in Corporate.
| First quarter ended |  |
| March 31, |  |
| 2023 |  | 2022 |  |  |  |
Total Segment Adjusted EBITDA | $ | 379 |  |  | $ | 319 |  |  |  |  |
Segment provision for depreciation and amortization | (64) |  |  | (65) |  |  |  |  |
Unallocated amounts: |  |  |  |  |  |  |
Restructuring and other charges | (1) |  |  | (2) |  |  |  |  |
Corporate expense | (29) |  |  | (22) |  |  |  |  |
Operating income | $ | 285 |  |  | $ | 230 |  |  |  |  |
Loss on debt redemption | (1) |  |  | — |  |  |  |  |
Interest expense, net | (57) |  |  | (58) |  |  |  |  |
Other expense, net | (7) |  |  | (1) |  |  |  |  |
Income before income taxes | $ | 220 |  |  | $ | 171 |  |  |  |  |
Schedule of Reconciliation of Capital Expenditures from Segments to Consolidated | The following table reconciles total segment capital expenditures with Capital expenditures as presented in the Statement of Consolidated Cash Flows.
| First quarter ended |  |
| March 31, |  |
| 2023 |  | 2022 |  |  |  |
Total segment capital expenditures | $ | 61 |  |  | $ | 58 |  |  |  |  |
Corporate | 3 |  |  | 4 |  |  |  |  |
Capital expenditures | $ | 64 |  |  | $ | 62 |  |  |  |  |
Schedule of Disaggregation of Revenue by Major End Market Served | The following table disaggregates segment revenue by major market served. Differences between the total segment and consolidated totals are in Corporate.
| Engine Products |  | Fastening Systems |  | Engineered Structures |  | Forged Wheels |  | Total Segment
First quarter ended March 31, 2023 |  |  |  |  |  |  |  |  |
Aerospace - Commercial | $ | 432 |  |  | $ | 170 |  |  | $ | 152 |  |  | $ | — |  |  | $ | 754 |
Aerospace - Defense | 163 |  |  | 44 |  |  | 44 |  |  | — |  |  | 251 |
Commercial Transportation | — |  |  | 63 |  |  | — |  |  | 289 |  |  | 352 |
Industrial and Other | 200 |  |  | 35 |  |  | 11 |  |  | — |  |  | 246 |
Total end-market revenue | $ | 795 |  |  | $ | 312 |  |  | $ | 207 |  |  | $ | 289 |  |  | $ | 1,603 |
First quarter ended March 31, 2022 |  |  |  |  |  |  |  |  |
Aerospace - Commercial | $ | 329 |  |  | $ | 148 |  |  | $ | 109 |  |  | $ | — |  |  | $ | 586 |
Aerospace - Defense | 137 |  |  | 32 |  |  | 57 |  |  | — |  |  | 226 |
Commercial Transportation | — |  |  | 53 |  |  | — |  |  | 247 |  |  | 300 |
Industrial and Other | 165 |  |  | 31 |  |  | 16 |  |  | — |  |  | 212 |
Total end-market revenue | $ | 631 |  |  | $ | 264 |  |  | $ | 182 |  |  | $ | 247 |  |  | $ | 1,324 |

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