v3.22.4

Restructuring and Other Charges (Tables)

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Other Charges

Restructuring and other charges for each year in the three-year period ended December 31, 2022 were comprised of the following:

			2022						2021						2020
Net loss (gain) on divestitures of assets and businesses (S)			$	306					$	1					$	(49)
Asset impairments			92						34						15
Settlements related to employee retirement benefit plans (H)			47						584						199
Layoff costs			2						3						23
Other*			10						6						14
Reversals of previously recorded layoff and other costs			(1)						(4)						(14)
Restructuring and other charges			$	456					$	624					$	188

__________________

*In 2020, Other includes $2 related to the allocation of ParentCo’s corporate restructuring activity to Arconic (see Cost Allocations in Note A).

Schedule of Restructuring Reserve

Activity and reserve balances for restructuring charges were as follows:

			Layoff costs						Other costs						Total
Reserve balances at December 31, 2019			$	20					$	1					$	21
Separation-related adjustments(1)			2						—						2
Cash payments			(24)						(3)						(27)
Restructuring charges			23						4						27
Other(2)			(8)						(1)						(9)
Reserve balances at December 31, 2020			13						1						14
Cash payments			(10)						(5)						(15)
Restructuring charges			3						6						9
Other(2)			(4)						(1)						(5)
Reserve balances at December 31, 2021			2						1						3
Cash payments			(3)						(3)						(6)
Restructuring charges			2						3						5
Other(2)			—						(1)						(1)
Reserve balances at December 31, 2022(3)			$	1					$	—					$	1

_____________________

(1)Represents liabilities transferred from ParentCo on the Separation Date (see Note A).

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

(3)The remaining reserves are expected to be paid in cash during 2023.

Restructuring And Related Costs By 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:

For the year ended December 31,						2022						2021						2020
Rolled Products						$	302					$	1					$	(15)
Building and Construction Systems						2						(2)						5
Extrusions						90						7						(14)
Segment total						394						6						(24)
Corporate						62						618						212
						$	456					$	624					$	188

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Restructuring And Related Costs By Segment

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Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

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Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

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