v3.23.1

Leases​ | 3 Months Ended
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Mar. 31, 2023
Leases [Abstract] |
Leases | Leases Arconic leases certain land and buildings, plant equipment, vehicles, and computer equipment, which have been classified as operating leases. Operating lease cost, which includes short-term leases and variable lease payments and approximates cash paid, was $14 and $13 in the first quarter of 2023 and 2022, respectively. Right-of-use assets obtained in exchange for operating lease obligations in the first quarter of 2023 and 2022 were $9 and $11, respectively. Future minimum contractual operating lease obligations were as follows:
| March 31, 2023
2023 | $ | 32 |
2024 | 34 |
2025 | 26 |
2026 | 18 |
2027 | 8 |
Thereafter | 21 |
Total lease payments | $ | 139 |
Less: imputed interest | 20 |
Present value of lease liabilities | $ | 119 |
The weighted-average remaining lease term and weighted-average discount rate for the Company’s operating leases at March 31, 2023 and December 31, 2022 was 5.1 years and 5.2 years, respectively, and 6.5% and 6.3%, respectively.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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