v3.22.1

Fair Value Measures and Disclosures (Tables) | 3 Months Ended
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Mar. 31, 2022
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:
|  | March 31, 2022 |  | December 31, 2021
|  | Carrying value |  | Fair value |  | Carrying value |  | Fair value
Cash and cash equivalents |  | $ | 210 |  |  | $ | 210 |  |  | $ | 335 |  |  | $ | 335 |
Hedging instruments and derivatives - assets |  | 7 |  |  | 7 |  |  | 1 |  |  | 1 |
Short-term debt |  | 100 |  |  | 100 |  |  | — |  |  | — |
Hedging instruments and derivatives - liabilities |  | 116 |  |  | 116 |  |  | 23 |  |  | 23 |
Long-term debt |  | 1,595 |  |  | 1,621 |  | 1,594 |  |  | 1,692 |

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