v3.22.2

Restructuring and Other Charges

6 Months Ended

Jun. 30, 2022

Restructuring and Related Activities [Abstract]

Restructuring and Other Charges

Restructuring and Other Charges

In the 2022 second quarter and six-month period, Arconic recorded Restructuring and other charges of $2 and $7, respectively, which were comprised of the following components: a $1 and $5, respectively, charge related to several legacy non-U.S. matters, including $1 (six-month period) for an environmental remediation obligation related to Italy (see Environmental Matters in Note P) and $1 (six-month period) for the full settlement of certain employee retirement benefits related to Brazil (see Note G); and a $1 and $2, respectively, charge related to idling certain operations in the Extrusions segment (actions initiated in 2021).

In the 2021 second quarter and six-month period, Arconic recorded Restructuring and other charges of $597 and $598, respectively, which were comprised of the following components: a $568 charge for the settlement of certain employee retirement benefits (see Note G); a $34 charge for the impairment of several buildings and equipment due to management's decision to abandon these assets located at the Company’s primary research and development facility; a $7 benefit for the settlement of a legacy tax matter related to Brazil; a $1 and $2, respectively, credit for the reversal of reserves established in prior periods (see below); a $1 additional loss (six-month period) on the sale of an aluminum rolling mill in Brazil; and a $3 and $4, respectively, net charge for other items, including layoff costs associated with approximately 115 employees in the Extrusions segment.

The Company does not include Restructuring and other charges in the results of its reportable segments. The impact of allocating such charges to segment results would have been as follows:

						Second quarter ended June 30,												Six months ended June 30,
						2022						2021						2022						2021
Rolled Products						$	—					$	—					$	—					$	1
Building and Construction Systems						—						—						—						(1)
Extrusions						1						2						2						3
Segment total						1						2						2						3
Corporate						1						595						5						595
						$	2					$	597					$	7					$	598

Activity and reserve balances for restructuring charges were as follows:

			Layoff costs						Other costs						Total
Reserve balances at December 31, 2020			$	13					$	1					$	14
Cash payments			(10)						(5)						(15)
Restructuring charges			3						6						9
Other(1)			(4)						(1)						(5)
Reserve balances at December 31, 2021			2						1						3
Cash payments			(1)						(2)						(3)
Restructuring charges			—						2						2
Other(1)			—						(1)						(1)
Reserve balances at June 30, 2022(2)			$	1					$	—					$	1

_____________________

(1)Other includes reversals of previously recorded restructuring charges and the effects of foreign currency translation.

(2)The remaining reserves are expected to be paid in cash during the remainder of 2022.

X

- References

No definition available.

+ Details

Name:	us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(e))
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI https://asc.fasb.org/topic&trid=2175745

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

+ Details

Name:	us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration