v3.22.2

Accumulated Other Comprehensive Income​ | 6 Months Ended
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Jun. 30, 2022
Equity [Abstract] |
Accumulated Other Comprehensive Income​ | Accumulated Other Comprehensive Loss The following table presents the activity of the three components that comprise Accumulated other comprehensive loss for Arconic (such activity for Noncontrolling interest was immaterial for all periods presented):
|  | Second quarter ended June 30, |  | Six months ended June 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Pension and other postretirement benefits (G) |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (1,063) |  |  | $ | (1,766) |  |  | $ | (1,121) |  |  | $ | (1,791) |
Other comprehensive income: |  |  |  |  |  |  |  |
Unrecognized net actuarial loss and prior service cost/benefit |  | 14 |  |  | 145 |  |  | 69 |  |  | 144 |
Tax expense |  | (3) |  |  | (33) |  |  | (15) |  |  | (33) |
Total Other comprehensive income before reclassifications, net of tax |  | 11 |  |  | 112 |  |  | 54 |  |  | 111 |
Amortization of net actuarial loss and prior service cost/benefit(1) |  | 20 |  |  | 593 |  |  | 40 |  |  | 626 |
Tax expense(2) |  | (5) |  |  | (138) |  |  | (10) |  |  | (145) |
Total amount reclassified from Accumulated other comprehensive loss, net of tax(5) |  | 15 |  |  | 455 |  |  | 30 |  |  | 481 |
Total Other comprehensive income |  | 26 |  |  | 567 |  |  | 84 |  |  | 592 |
Balance at end of period |  | $ | (1,037) |  |  | $ | (1,199) |  |  | $ | (1,037) |  |  | $ | (1,199) |
Foreign currency translation |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 18 |  |  | $ | 22 |  |  | $ | 25 |  |  | $ | 29 |
Other comprehensive (loss) income(3) |  | (55) |  |  | 13 |  |  | (62) |  |  | 6 |
Balance at end of period |  | $ | (37) |  |  | $ | 35 |  |  | $ | (37) |  |  | $ | 35 |
Cash flow hedges (Q) |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (85) |  |  | $ | (21) |  |  | $ | (15) |  |  | $ | 1 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |
Net change from periodic revaluations |  | 201 |  |  | (59) |  |  | 58 |  |  | (94) |
Tax (expense) benefit |  | (46) |  |  | 14 |  |  | (13) |  |  | 22 |
Total Other comprehensive income (loss) before reclassifications, net of tax |  | 155 |  |  | (45) |  |  | 45 |  |  | (72) |
Net amount reclassified to earnings: |  |  |  |  |  |  |  |
Aluminum(4) |  | 53 |  |  | 41 |  |  | 106 |  |  | 48 |
Energy(4) |  | (7) |  |  | — |  |  | (7) |  |  | — |
Alloying materials(4) |  | — |  |  | (1) |  |  | — |  |  | (1) |
Sub-total |  | 46 |  |  | 40 |  |  | 99 |  |  | 47 |
Tax expense(2) |  | (11) |  |  | (9) |  |  | (24) |  |  | (11) |
Total amount reclassified from Accumulated other comprehensive income, net of tax(5) |  | 35 |  |  | 31 |  |  | 75 |  |  | 36 |
Total Other comprehensive income (loss) |  | 190 |  |  | (14) |  |  | 120 |  |  | (36) |
Balance at end of period |  | $ | 105 |  |  | $ | (35) |  |  | $ | 105 |  |  | $ | (35) |
Accumulated other comprehensive loss |  | $ | (969) |  |  | $ | (1,199) |  |  | $ | (969) |  |  | $ | (1,199) |
_____________________ (1)These amounts were included in the non-service component of net periodic benefit cost for pension and other postretirement benefits (see Note G). In the 2021 second quarter and six-month period, the respective amounts include accelerated amortization of $568 related to the settlement of certain employee retirement benefits (see Note G). (2)These amounts were reported in Provision (Benefit) for income taxes on the accompanying Statement of Consolidated Operations. (3)In all periods presented, there were no tax impacts related to rate changes and no amounts were reclassified to earnings. (4)A portion of the amounts related to aluminum were reported in each of Sales and Cost of goods sold on the accompanying Statement of Consolidated Operations (see Note Q). The amounts related to energy and alloying materials were reported in Cost of goods sold on the accompanying Statement of Consolidated Operations (see Note Q). (5)A positive amount indicates a corresponding charge to earnings and a negative amount indicates a corresponding benefit to earnings. These amounts were reflected on the accompanying Statement of Consolidated Operations in the line items indicated in footnotes 1 through 4.

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI https://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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