v3.22.0.1

Segment and Related Information​ (Tables)

12 Months Ended

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

X

- 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.

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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.

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