Accumulated Other Comprehensive Income

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)

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(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.