v3.23.2

Leases​ | 6 Months Ended
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Jun. 30, 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 $28 in the 2023 second quarter and six-month period, respectively, and $14 and $27 in the 2022 second quarter and six-month period, respectively. Right-of-use assets obtained in exchange for operating lease obligations in the 2023 and 2022 six-month periods were $12 and $18, respectively. Future minimum contractual operating lease obligations were as follows:
| June 30, 2023
2023 | $ | 21 |
2024 | 35 |
2025 | 27 |
2026 | 19 |
2027 | 9 |
Thereafter | 22 |
Total lease payments | $ | 133 |
Less: imputed interest | 19 |
Present value of lease liabilities | $ | 114 |
The weighted-average remaining lease term and weighted-average discount rate for the Company’s operating leases at June 30, 2023 and December 31, 2022 was 5.0 years and 5.2 years, respectively, and 6.6% 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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