v3.22.0.1

Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2021
Fair Value Disclosures [Abstract] |
Fair Value, by Balance Sheet Grouping | The respective carrying value and fair value of Arconic’s financial instruments were as follows:
|  | 2021 |  | 2020
December 31, |  | Carrying value |  | Fair value |  | Carrying value |  | Fair value
Cash and cash equivalents |  | $ | 335 |  |  | $ | 335 |  |  | $ | 787 |  |  | $ | 787 |
Derivative instruments - assets |  | 1 |  |  | 1 |  |  | 3 |  |  | 3 |
Short-term borrowings |  | — |  |  | — |  |  | 14 |  |  | 14 |
Derivatives instruments - liabilities |  | 23 |  |  | 23 |  |  | 2 |  |  | 2 |
Long-term debt |  | 1,594 |  |  | 1,692 |  |  | 1,278 |  |  | 1,399 |

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