v3.22.1

Leases​ | 3 Months Ended
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Mar. 31, 2022
Leases [Abstract] |
Leases | Leases Arconic 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 $13 and $16 for the first quarter of 2022 and 2021, respectively. Right-of-use assets obtained in exchange for operating lease obligations in the first quarter of 2022 and 2021 were $11 and $5, respectively. Future minimum contractual operating lease obligations were as follows:
| March 31, 2022
2022 | $ | 31 |
2023 | 31 |
2024 | 24 |
2025 | 18 |
2026 | 13 |
Thereafter | 30 |
Total lease payments | $ | 147 |
Less: imputed interest | 23 |
Present value of lease liabilities | $ | 124 |
Arconic’s operating leases at both March 31, 2022 and December 31, 2021 had a weighted-average remaining lease term of 6.1 years and a weighted-average discount rate of 5.8%.

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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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