v3.20.2

Leases​ | 9 Months Ended
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Sep. 30, 2020
Leases [Abstract] |
Leases | Leases​ Arconic Corporation leases certain land and buildings, plant equipment, vehicles, and computer equipment, which have been classified as operating leases. Operating lease cost, which includes short-term leases and variable lease payments and approximates cash paid, was $14 and $15 for the third quarter of 2020 and 2019, respectively, and $43 and $47 for the nine-month period of 2020 and 2019, respectively. Right-of-use assets obtained in exchange for operating lease obligations in the 2020 third quarter and nine-month period were $6 and $38, respectively. Future minimum contractual operating lease obligations were as follows:
​ | September 30, 2020 | ​ | December 31, 2019
2020 | $ | 11 |  |  | $ | 38 |
2021 | 38 |  |  | 29 |
2022 | 31 |  |  | 22 |
2023 | 24 |  |  | 17 |
2024 | 19 |  |  | 14 |
Thereafter | 53 |  |  | 38 |
Total lease payments | $ | 176 |  |  | $ | 158 |
Less: imputed interest | 33 |  |  | 29 |
Present value of lease liabilities | $ | 143 |  |  | $ | 129 |
The weighted-average remaining lease term and weighted-average discount rate for Arconic Corporation’s operating leases at September 30, 2020 and December 31, 2019 was 6.7 years and 6.7 years, respectively, and 5.9% and 6.0%, respectively.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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