v3.22.0.1

Segment and Related Information​ (Tables) | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The operating results and assets of Arconic’s reportable segments were as follows (differences between segment totals and Arconic’s consolidated totals for line items not reconciled are in Corporate):
| Rolled Products |  | Building and Construction Systems |  | Extrusions |  | Total
2021 |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |
Third-party sales | $ | 6,187 |  |  | $ | 1,011 |  |  | $ | 306 |  |  | $ | 7,504 |
Intersegment sales | 33 |  |  | — |  |  | 1 |  |  | 34 |
Total sales | $ | 6,220 |  |  | $ | 1,011 |  |  | $ | 307 |  |  | $ | 7,538 |
Segment Adjusted EBITDA(1) | $ | 655 |  |  | $ | 130 |  |  | $ | (28) |  |  | $ | 757 |
Provision for depreciation and amortization | $ | 197 |  |  | $ | 17 |  |  | $ | 23 |  |  | $ | 237 |
2020 |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |
Third-party sales | $ | 4,335 |  |  | $ | 963 |  |  | $ | 381 |  |  | $ | 5,679 |
Intersegment sales | 19 |  |  | — |  |  | 2 |  |  | 21 |
Total sales | $ | 4,354 |  |  | $ | 963 |  |  | $ | 383 |  |  | $ | 5,700 |
Segment Adjusted EBITDA(1),(2) | $ | 527 |  |  | $ | 137 |  |  | $ | (16) |  |  | $ | 648 |
Provision for depreciation and amortization | $ | 192 |  |  | $ | 18 |  |  | $ | 25 |  |  | $ | 235 |
2019 |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |
Third-party sales | $ | 5,609 |  |  | $ | 1,118 |  |  | $ | 550 |  |  | $ | 7,277 |
Intersegment sales | 25 |  |  | — |  |  | 3 |  |  | 28 |
Total sales | $ | 5,634 |  |  | $ | 1,118 |  |  | $ | 553 |  |  | $ | 7,305 |
Segment Adjusted EBITDA(1),(2) | $ | 640 |  |  | $ | 126 |  |  | $ | (9) |  |  | $ | 757 |
Provision for depreciation and amortization | $ | 185 |  |  | $ | 18 |  |  | $ | 29 |  |  | $ | 232 |
| Rolled Products |  | Building and Construction Systems |  | Extrusions |  | Total
2021 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Segment assets* | $ | 4,766 |  |  | $ | 416 |  |  | $ | 381 |  |  | $ | 5,563 |
Supplemental information: |  |  |  |  |  |  |
Capital expenditures | 147 |  |  | 11 |  |  | 14 |  |  | 172 |
Goodwill | 253 |  |  | 69 |  |  | — |  |  | 322 |
2020 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Segment assets | $ | 3,895 |  |  | $ | 381 |  |  | $ | 420 |  |  | $ | 4,696 |
Supplemental information: |  |  |  |  |  |  |
Capital expenditures | 134 |  |  | 7 |  |  | 11 |  |  | 152 |
Goodwill | 254 |  |  | 71 |  |  | 65 |  |  | 390 |
_____________________ *In the 2021 fourth quarter, the Rolled Products segment recorded a net adjustment of $10 (approximately $7 of which relates to prior quarters in 2021) related to write-downs of scrap inventory. The out-of-period amounts were not material to any interim or annual period. The following tables reconcile certain segment information to consolidated totals:
For the year ended December 31, |  | 2021 |  | 2020 |  | 2019
Sales: |  |  |  |  |  |
Total segment sales |  | $ | 7,538 |  |  | $ | 5,700 |  |  | $ | 7,305 |
Elimination of intersegment sales |  | (34) |  |  | (21) |  |  | (28) |
Other |  | — |  |  | (4) |  |  | — |
Consolidated sales |  | $ | 7,504 |  |  | $ | 5,675 |  |  | $ | 7,277 |
The following table reconciles total Segment Adjusted EBITDA to consolidated net (loss) income attributable to Arconic Corporation:
For the year ended December 31, |  | 2021 |  | 2020 |  | 2019
Total Segment Adjusted EBITDA(1) |  | $ | 757 |  |  | $ | 648 |  |  | $ | 757 |
Unallocated amounts: |  |  |  |  |  |
Corporate expenses(1),(2) |  | (33) |  |  | (24) |  |  | (53) |
Stock-based compensation expense (K) |  | (22) |  |  | (23) |  |  | (40) |
Metal price lag(3) |  | (16) |  |  | (27) |  |  | (39) |
Provision for depreciation and amortization |  | (253) |  |  | (251) |  |  | (252) |
Impairment of goodwill (B & O) |  | (65) |  |  | — |  |  | — |
Restructuring and other charges(4) (E) |  | (624) |  |  | (188) |  |  | (87) |
Other(1),(5) |  | (36) |  |  | (55) |  |  | (71) |
Operating (loss) income |  | (292) |  |  | 80 |  |  | 215 |
Interest expense (F) |  | (100) |  |  | (118) |  |  | (115) |
Other (expenses) income, net(1) (G) |  | (67) |  |  | (70) |  |  | 15 |
Benefit (Provision) for income taxes (I) |  | 62 |  |  | (1) |  |  | 62 |
Net income attributable to noncontrolling interest |  | — |  |  | — |  |  | — |
Consolidated net (loss) income attributable to Arconic(2) |  | $ | (397) |  |  | $ | (109) |  |  | $ | 177 |
(1)In preparation for the Separation, effective January 1, 2020, certain U.S. defined benefit pension and other postretirement plans previously sponsored by ParentCo were separated into standalone plans for both Arconic and Howmet Aerospace. Additionally, effective April 1, 2020, Arconic assumed a portion of the obligations associated with certain non-U.S. defined benefit pension plans that included participants related to both the Arconic Businesses and the Howmet Aerospace Businesses, as well as legacy defined benefit pension plans assigned to the Company as a result of the Separation. As a result, beginning in the first quarter of 2020 for these U.S. plans and in the second quarter of 2020 for these non-U.S. plans, Arconic applied defined benefit plan accounting resulting in benefit plan expense being recorded in operating income (service cost) and nonoperating income (nonservice cost). In all historical periods prior to these respective timeframes, Arconic was considered a participating employer in ParentCo’s defined benefit plans and, therefore, applied multiemployer plan accounting resulting in the Company’s share of benefit plan expense being recorded entirely in operating income. Also, Arconic is the plan sponsor of certain other non-U.S. defined benefit plans that contain participants related only to the Arconic Businesses and, therefore, the related benefit plan expense was recorded in accordance with defined benefit plan accounting in all periods presented. The following table presents the total benefit plan expense (excluding settlements and curtailments) recorded by Arconic based on the foregoing in each period presented:
For the year ended December 31, |  | 2021 |  | 2020 |  | 2019
Segment Adjusted EBITDA: |  |  |  |  |  |
Rolled Products |  | $ | (18) |  |  | $ | (17) |  |  | $ | (62) |
Building and Construction Systems |  | (2) |  |  | (2) |  |  | (5) |
Extrusions |  | (7) |  |  | (7) |  |  | (18) |
Segment total |  | (27) |  |  | (26) |  |  | (85) |
Unallocated amounts: |  |  |  |  |  |
Corporate expenses |  | — |  |  | — |  |  | (15) |
Other |  | — |  |  | 1 |  |  | (9) |
Subtotal |  | — |  |  | 1 |  |  | (24) |
Other expenses, net |  | (60) |  |  | (78) |  |  | (2) |
Total |  | $ | (87) |  |  | $ | (103) |  |  | $ | (111) |
(2)Corporate expenses are composed of general administrative and other expenses of operating the corporate headquarters and other global administrative facilities. The amounts presented for all periods prior to second quarter 2020 include an allocation of ParentCo’s corporate expenses, including research and development expenses, for the portion of the period prior to the Separation Date (see Cost Allocations in Note A). (3)Metal price lag represents the financial impact of the timing difference between when aluminum prices included in Sales are recognized and when aluminum purchase prices included in Cost of goods sold are realized. This adjustment aims to remove the effect of the volatility in metal prices and the calculation of this impact considers applicable metal hedging transactions. (4)In 2021 and 2020, Restructuring and other charges include a $584 and $199, respectively, charge for the settlement of certain employee retirement benefits virtually all of which were within the United States and the United Kingdom (see Note H). (5)Other includes certain items that impact Cost of goods sold and Selling, general administrative, and other expenses on the Company’s Statement of Consolidated Operations that are not included in Segment Adjusted EBITDA.
December 31, |  | 2021 |  | 2020
Assets: |  |  |  |
Total segment assets |  | $ | 5,563 |  |  | $ | 4,696 |
Unallocated amounts: |  |  |  |
Cash and cash equivalents |  | 335 |  |  | 787 |
Prepaid expenses and other current assets |  | 55 |  |  | 53 |
Corporate fixed assets, net |  | 153 |  |  | 187 |
Operating lease right-of-use assets |  | 122 |  |  | 144 |
Deferred income taxes (I) |  | 229 |  |  | 329 |
Other noncurrent assets |  | 88 |  |  | 97 |
Other |  | 35 |  |  | 21 |
Consolidated assets |  | $ | 6,580 |  |  | $ | 6,314 |
Schedule of Geographic Area Information | Geographic information for sales was as follows (based upon the country where the point of sale occurred):
For the year ended December 31, |  | 2021 |  | 2020 |  | 2019
Sales: |  |  |  |  |  |
United States |  | $ | 4,753 |  |  | $ | 3,697 |  |  | $ | 4,760 |
Russia* |  | 793 |  |  | 535 |  |  | 512 |
China |  | 696 |  |  | 429 |  |  | 486 |
Hungary* |  | 625 |  |  | 462 |  |  | 614 |
France |  | 260 |  |  | 207 |  |  | 277 |
United Kingdom |  | 169 |  |  | 144 |  |  | 230 |
Other |  | 208 |  |  | 201 |  |  | 398 |
|  | $ | 7,504 |  |  | $ | 5,675 |  |  | $ | 7,277 |
_____________________ *In all periods presented, sales of a portion of aluminum products from Arconic’s plant in Russia were completed through the Company’s international selling company located in Hungary. Geographic information for long-lived assets was as follows (based upon the physical location of the assets):
December 31, |  | 2021 |  | 2020
Long-lived assets: |  |  |  |
United States |  | $ | 1,998 |  |  | $ | 2,019 |
China |  | 242 |  |  | 252 |
Russia |  | 200 |  |  | 213 |
Hungary |  | 98 |  |  | 108 |
United Kingdom |  | 79 |  |  | 82 |
France |  | 15 |  |  | 18 |
Other |  | 19 |  |  | 20 |
|  | $ | 2,651 |  |  | $ | 2,712 |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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