v3.22.4

Other Expenses (Income), Net | 12 Months Ended
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Dec. 31, 2022
Other Income and Expenses [Abstract] |
Other Expenses (Income), Net | Other Expenses, Net
For the year ended December 31, |  | 2022 |  | 2021 |  | 2020
Non-service costs — Pension and OPEB (H) |  | $ | 75 |  |  | $ | 60 |  |  | $ | 78 |
Foreign currency (gains) losses, net |  | (26) |  |  | 5 |  |  | 11 |
Net loss from asset sales |  | 3 |  |  | — |  |  | — |
Interest income |  | (5) |  |  | (1) |  |  | (4) |
Other, net |  | (6) |  |  | 3 |  |  | (15) |
|  | $ | 41 |  |  | $ | 67 |  |  | $ | 70 |
In 2022, Foreign currency (gains) losses, net includes a $39 gain for the remeasurement of monetary balances, primarily cash, related to the Company’s former operations in Russia (see Note S) from rubles to the U.S. dollar. This gain was the result of a significant strengthening of the Russian ruble against the U.S. dollar in the period. In 2020, Other, net includes a $20 benefit for the reversal of a liability previously established at the Separation Date related to a potential indemnification to Howmet by Arconic for an outstanding income tax matter in Spain. Under the terms of the Tax Matters Agreement (see Note A) related to the Separation, Arconic was responsible for 34% of the potential loss related to this matter should Howmet receive an unfavorable ruling from Spain’s Supreme Court. At the time of Separation, Arconic management believed that the likelihood of the Company performing under the indemnification was probable resulting in a liability being established on Arconic’s opening balance sheet at the Separation Date. In November 2020, a favorable ruling was received from Spain’s Supreme Court bringing a final conclusion to this matter as this decision may not be appealed any further. As no further income tax payment was required of Howmet likewise Arconic no longer has a requirement to perform under the indemnification.

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- Definition The entire disclosure for the components of non-operating income or non-operating expense, including, but not limited to, amounts earned from dividends, interest on securities, gain (loss) on securities sold, equity earnings of unconsolidated affiliates, gain (loss) on sales of business, interest expense and other miscellaneous income or expense items. + References Reference 1: 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(7)) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 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(9)) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 + Details
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