v3.23.2

Segment and Related Information​ (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The operating results of Arconic’s reportable segments were as follows (differences between segment totals and the Company’s consolidated totals for line items not reconciled are in Corporate):
Second quarter ended June 30, |  | Rolled Products |  | Building and Construction Systems |  | Extrusions |  | Total
2023 |  |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |  |
Third-party sales |  | $ | 1,529 |  |  | $ | 319 |  |  | $ | 125 |  |  | $ | 1,973 |
Intersegment sales |  | 8 |  |  | — |  |  | 5 |  |  | 13 |
Total sales |  | $ | 1,537 |  |  | $ | 319 |  |  | $ | 130 |  |  | $ | 1,986 |
Segment Adjusted EBITDA |  | $ | 158 |  |  | $ | 53 |  |  | $ | (1) |  |  | $ | 210 |
Provision for depreciation and amortization |  | $ | 42 |  |  | $ | 4 |  |  | $ | 4 |  |  | $ | 50 |
2022 |  |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |  |
Third-party sales* |  | $ | 2,113 |  |  | $ | 329 |  |  | $ | 105 |  |  | $ | 2,547 |
Intersegment sales |  | 11 |  |  | — |  |  | — |  |  | 11 |
Total sales |  | $ | 2,124 |  |  | $ | 329 |  |  | $ | 105 |  |  | $ | 2,558 |
Segment Adjusted EBITDA* |  | $ | 174 |  |  | $ | 53 |  |  | $ | (12) |  |  | $ | 215 |
Provision for depreciation and amortization |  | $ | 49 |  |  | $ | 5 |  |  | $ | 6 |  |  | $ | 60 |
Six months ended June 30, |  | Rolled Products |  | Building and Construction Systems |  | Extrusions |  | Total
2023 |  |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |  |
Third-party sales |  | $ | 3,033 |  |  | $ | 627 |  |  | $ | 245 |  |  | $ | 3,905 |
Intersegment sales |  | 19 |  |  | — |  |  | 5 |  |  | 24 |
Total sales |  | $ | 3,052 |  |  | $ | 627 |  |  | $ | 250 |  |  | $ | 3,929 |
Segment Adjusted EBITDA |  | $ | 275 |  |  | $ | 107 |  |  | $ | (5) |  |  | 377 |
Provision for depreciation and amortization |  | $ | 84 |  |  | $ | 8 |  |  | $ | 7 |  |  | $ | 99 |
2022 |  |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |  |
Third-party sales* |  | $ | 3,917 |  |  | $ | 620 |  |  | $ | 202 |  |  | $ | 4,739 |
Intersegment sales |  | 23 |  |  | — |  |  | 1 |  |  | 24 |
Total sales |  | $ | 3,940 |  |  | $ | 620 |  |  | $ | 203 |  |  | $ | 4,763 |
Segment Adjusted EBITDA* |  | $ | 350 |  |  | $ | 97 |  |  | $ | (17) |  |  | $ | 430 |
Provision for depreciation and amortization |  | $ | 97 |  |  | $ | 9 |  |  | $ | 10 |  |  | $ | 116 |
__________________ * In November 2022, Arconic completed the sale of all of its operations in Russia (see Note O), the results of which were previously reported in the Company’s Rolled Products segment. In the 2022 second quarter and six-month period, Third- party sales and Segment Adjusted EBITDA for the Rolled Products segment included $314 and $24, respectively, and $547 and $42, respectively, related to these former operations.
Reconciliation of Operating Profit (Loss) from Segments | The following table reconciles total Segment Adjusted EBITDA to consolidated net income attributable to Arconic Corporation:
|  | Second quarter ended June 30, |  | Six months ended June 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Total Segment Adjusted EBITDA |  | $ | 210 |  |  | $ | 215 |  |  | $ | 377 |  |  | $ | 430 |
Unallocated amounts: |  |  |  |  |  |  |  |
Corporate expenses(1) |  | (11) |  |  | (10) |  |  | (20) |  |  | (19) |
Stock-based compensation expense |  | (12) |  |  | (8) |  |  | (18) |  |  | (13) |
Metal price lag(2) |  | (20) |  |  | 30 |  |  | (20) |  |  | (6) |
Unrealized gains (losses) on mark-to-market hedging instruments and derivatives (Q) |  | 18 |  |  | 21 |  |  | (2) |  |  | 23 |
Provision for depreciation and amortization |  | (52) |  |  | (62) |  |  | (105) |  |  | (122) |
Restructuring and other charges(3) (E) |  | (9) |  |  | (2) |  |  | (9) |  |  | (7) |
Other(4) |  | (7) |  |  | (40) |  |  | (15) |  |  | (46) |
Operating income |  | 117 |  |  | 144 |  |  | 188 |  |  | 240 |
Interest expense |  | (25) |  |  | (26) |  |  | (50) |  |  | (51) |
Other (expenses) income, net (F) |  | (16) |  |  | 35 |  |  | (27) |  |  | 18 |
Provision for income taxes (H) |  | (17) |  |  | (38) |  |  | (27) |  |  | (50) |
Net income attributable to noncontrolling interest (O) |  | — |  |  | (1) |  |  | — |  |  | (1) |
Consolidated net income attributable to Arconic Corporation |  | $ | 59 |  |  | $ | 114 |  |  | $ | 84 |  |  | $ | 156 |
_____________________ (1)Corporate expenses are composed of general administrative and other expenses of operating the corporate headquarters and other global administrative facilities. (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 the 2023 second quarter and six-month period, Restructuring and other charges includes $11 for costs incurred related to the Transaction (see Note A and Note E). (4)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 the 2022 second quarter and six-month period, the respective amounts include costs related to a new union labor agreement of $19 (see Note G) and environmental remediation charges of $9, both of which were recorded in Cost of goods sold on the accompanying Statement of Consolidated Operations.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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