v3.22.4

Segment and Related Information​ (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The operating results and assets of Arconic’s reportable segments were as follows (differences between segment totals and Arconic’s consolidated totals for line items not reconciled are in Corporate):
| Rolled Products |  | Building and Construction Systems |  | Extrusions |  | Total
2022 |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |
Third-party sales | $ | 7,313 |  |  | $ | 1,245 |  |  | $ | 409 |  |  | $ | 8,967 |
Intersegment sales | 44 |  |  | — |  |  | 2 |  |  | 46 |
Total sales | $ | 7,357 |  |  | $ | 1,245 |  |  | $ | 411 |  |  | $ | 9,013 |
Segment Adjusted EBITDA | $ | 581 |  |  | $ | 195 |  |  | $ | (47) |  |  | $ | 729 |
Provision for depreciation and amortization | $ | 190 |  |  | $ | 17 |  |  | $ | 18 |  |  | $ | 225 |
2021 |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |
Third-party sales | $ | 6,187 |  |  | $ | 1,011 |  |  | $ | 306 |  |  | $ | 7,504 |
Intersegment sales | 33 |  |  | — |  |  | 1 |  |  | 34 |
Total sales | $ | 6,220 |  |  | $ | 1,011 |  |  | $ | 307 |  |  | $ | 7,538 |
Segment Adjusted EBITDA | $ | 655 |  |  | $ | 130 |  |  | $ | (28) |  |  | $ | 757 |
Provision for depreciation and amortization | $ | 197 |  |  | $ | 17 |  |  | $ | 23 |  |  | $ | 237 |
2020 |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |
Third-party sales | $ | 4,335 |  |  | $ | 963 |  |  | $ | 381 |  |  | $ | 5,679 |
Intersegment sales | 19 |  |  | — |  |  | 2 |  |  | 21 |
Total sales | $ | 4,354 |  |  | $ | 963 |  |  | $ | 383 |  |  | $ | 5,700 |
Segment Adjusted EBITDA | $ | 527 |  |  | $ | 137 |  |  | $ | (16) |  |  | $ | 648 |
Provision for depreciation and amortization | $ | 192 |  |  | $ | 18 |  |  | $ | 25 |  |  | $ | 235 |
2022 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Segment assets(1) | $ | 4,308 |  |  | $ | 474 |  |  | $ | 312 |  |  | $ | 5,094 |
Supplemental information: |  |  |  |  |  |  |
Capital expenditures | 194 |  |  | 18 |  |  | 16 |  |  | 228 |
Goodwill | 224 |  |  | 68 |  |  | — |  |  | 292 |
2021 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Segment assets(2) | $ | 4,766 |  |  | $ | 416 |  |  | $ | 381 |  |  | $ | 5,563 |
Supplemental information: |  |  |  |  |  |  |
Capital expenditures | 147 |  |  | 11 |  |  | 14 |  |  | 172 |
Goodwill | 253 |  |  | 69 |  |  | — |  |  | 322 |
_____________________ (1)In the 2022 third quarter, the Extrusions segment recorded a $92 asset impairment charge comprised of $90 for Properties, plants, and equipment and $2 for intangible assets (included within Other noncurrent assets) (see Note E). Also, in November 2022, Arconic completed the sale of all of its operations in Russia (see Note S), which was previously reported in Rolled Products. (2)In the 2021 fourth quarter, the Rolled Products segment recorded a net adjustment of $10 (approximately $7 of which relates to prior quarters in 2021) related to write-downs of scrap inventory. The out-of-period amounts were not material to any interim or annual period.
Reconciliation of Revenue from Segments to Consolidated | The following tables reconcile certain segment information to consolidated totals:
For the year ended December 31, |  | 2022 |  | 2021 |  | 2020
Sales: |  |  |  |  |  |
Total segment sales |  | $ | 9,013 |  |  | $ | 7,538 |  |  | $ | 5,700 |
Elimination of intersegment sales |  | (46) |  |  | (34) |  |  | (21) |
Other |  | (6) |  |  | — |  |  | (4) |
Consolidated sales |  | $ | 8,961 |  |  | $ | 7,504 |  |  | $ | 5,675 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated |
For the year ended December 31, |  | 2022 |  | 2021 |  | 2020
Total Segment Adjusted EBITDA |  | $ | 729 |  |  | $ | 757 |  |  | $ | 648 |
Unallocated amounts: |  |  |  |  |  |
Corporate expenses(1) |  | (29) |  |  | (33) |  |  | (24) |
Stock-based compensation expense (K) |  | (15) |  |  | (22) |  |  | (23) |
Metal price lag(2) |  | 17 |  |  | (16) |  |  | (27) |
Unrealized gains on mark-to-market hedging instruments and derivatives (U) |  | 6 |  |  | — |  |  | — |
Provision for depreciation and amortization |  | (237) |  |  | (253) |  |  | (251) |
Impairment of goodwill (B & O) |  | — |  |  | (65) |  |  | — |
Restructuring and other charges(3),(4) (E) |  | (456) |  |  | (624) |  |  | (188) |
Other(5) |  | (62) |  |  | (36) |  |  | (55) |
Operating (loss) income |  | (47) |  |  | (292) |  |  | 80 |
Interest expense (F) |  | (104) |  |  | (100) |  |  | (118) |
Other expenses, net (G) |  | (41) |  |  | (67) |  |  | (70) |
Benefit (Provision) for income taxes (I) |  | 11 |  |  | 62 |  |  | (1) |
Net income attributable to noncontrolling interest |  | (1) |  |  | — |  |  | — |
Consolidated net loss attributable to Arconic(1) |  | $ | (182) |  |  | $ | (397) |  |  | $ | (109) |
_____________________ (1)Corporate expenses are composed of general administrative and other expenses of operating the corporate headquarters and other global administrative facilities. The amounts presented for all periods prior to second quarter 2020 include an allocation of ParentCo’s corporate expenses, including research and development expenses, for the portion of the period prior to the Separation Date (see Cost Allocations in Note A). (2)Metal price lag represents the financial impact of the timing difference between when aluminum prices included in Sales are recognized and when aluminum purchase prices included in Cost of goods sold are realized. This adjustment aims to remove the effect of the volatility in metal prices and the calculation of this impact considers applicable metal hedging transactions. (3)In 2022, Restructuring and other charges includes a loss of $306 related to the sale of the Company’s operations in Russia and a $92 asset impairment charge related to the Extrusions segment (see Note E). (4)In 2022, 2021, and 2020, Restructuring and other charges include a $47, $584, and $199, respectively, charge for the settlement of certain employee retirement benefits virtually all of which were within the United States and the United Kingdom (see Note H). (5)Other includes certain items that impact Cost of goods sold and Selling, general administrative, and other expenses on the Company’s Statement of Consolidated Operations that are not included in Segment Adjusted EBITDA. In 2022, Other includes costs related to environmental remediation charges of $27 (see Environmental Matters in Note T) and costs related to the new labor agreement of $19 (see Note H). These charges were recorded in Cost of goods sold on the accompanying Statement of Consolidated Operations.
Reconciliation of Assets from Segment to Consolidated |
December 31, |  | 2022 |  | 2021
Assets: |  |  |  |
Total segment assets |  | $ | 5,094 |  |  | $ | 5,563 |
Unallocated amounts: |  |  |  |
Cash and cash equivalents |  | 261 |  |  | 335 |
Prepaid expenses and other current assets |  | 124 |  |  | 54 |
Fair value of hedging instruments and derivatives |  | 21 |  |  | 1 |
Corporate fixed assets, net |  | 135 |  |  | 153 |
Operating lease right-of-use assets |  | 115 |  |  | 122 |
Deferred income taxes (I) |  | 188 |  |  | 229 |
Other noncurrent assets |  | 57 |  |  | 88 |
Other |  | 20 |  |  | 35 |
Consolidated assets |  | $ | 6,015 |  |  | $ | 6,580 |
Schedule of Geographic Area Information | Geographic information for sales was as follows (based upon the country where the point of sale occurred):
For the year ended December 31, |  | 2022 |  | 2021 |  | 2020
Sales: |  |  |  |  |  |
United States |  | $ | 5,972 |  |  | $ | 4,753 |  |  | $ | 3,697 |
Russia* |  | 828 |  |  | 793 |  |  | 535 |
China |  | 807 |  |  | 696 |  |  | 429 |
Hungary* |  | 608 |  |  | 625 |  |  | 462 |
France |  | 247 |  |  | 260 |  |  | 207 |
United Kingdom |  | 245 |  |  | 169 |  |  | 144 |
Other |  | 254 |  |  | 208 |  |  | 201 |
|  | $ | 8,961 |  |  | $ | 7,504 |  |  | $ | 5,675 |
_____________________ *In all periods presented, sales of a portion of aluminum products from Arconic’s plant in Russia were completed through the Company’s international selling company located in Hungary. Also, in November 2022, Arconic completed the sale of all of its operations in Russia (see Note S). Geographic information for long-lived assets was as follows (based upon the physical location of the assets):
December 31, |  | 2022 |  | 2021
Long-lived assets: |  |  |  |
United States |  | $ | 1,943 |  |  | $ | 1,998 |
China |  | 208 |  |  | 242 |
Russia* |  | — |  |  | 200 |
Hungary |  | 99 |  |  | 98 |
United Kingdom |  | 78 |  |  | 79 |
France |  | 18 |  |  | 15 |
Other |  | 15 |  |  | 19 |
|  | $ | 2,361 |  |  | $ | 2,651 |
_____________________ *In November 2022, Arconic completed the sale of all of its operations in Russia (see Note S).

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 + Details
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