Arconic (ARNC) 10-Q 3 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	May 02, 2022
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Mar. 31, 2022
Entity Registrant Name	ARCONIC CORPORATION
Entity Central Index Key	0001790982
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		105,784,425
Document Transition Report	false
Document Quarterly Report	true
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-2745636
Entity Address, Address Line One	201 Isabella Street,
Entity Address, Address Line Two	Suite 400,
Entity Address, City or Town	Pittsburgh,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15212-5872
City Area Code	412)
Local Phone Number	992-2500
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ARNC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity File Number	1-39162

Statement of Combined Operation

Statement of Combined Operations - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cost of goods sold (exclusive of expenses below)	$ 1,956	$ 1,431
Selling, general administrative, and other expenses	65	59
Research and development expenses	9	8
Provision for depreciation and amortization	60	63
Restructuring and other charges (E)	5	1
Operating income	96	113
Interest expense	25	23
Other expenses, net	17	22
Income before income taxes	54	68
Provision for income taxes	12	16
Net income	42	52
Less: Net income attributable to noncontrolling interest	0	0
Net income attributable to Arconic Corporation	$ 42	$ 52
Earnings Per Share Attributable to Arconic Corporation Common Stockholders
Basic	$ 0.40	$ 0.48
Diluted	$ 0.39	$ 0.46
Third-party sales
Total sales	$ 2,191	$ 1,675

Statement of Combined Comprehen

Statement of Combined Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net income	$ 42	$ 52
Other comprehensive loss, net of tax
Change in unrecognized net actuarial loss and prior service cost/benefit related to pension and other postretirement benefits	58	25
Foreign currency translation adjustments	(7)	(7)
Net change in unrecognized losses on cash flow hedges	(70)	(22)
Total Other comprehensive loss, net of tax	(19)	(4)
Comprehensive income	23	48
Arconic Corporation
Net income	42	52
Other comprehensive loss, net of tax
Change in unrecognized net actuarial loss and prior service cost/benefit related to pension and other postretirement benefits	58	25
Foreign currency translation adjustments	(7)	(7)
Net change in unrecognized losses on cash flow hedges	(70)	(22)
Total Other comprehensive loss, net of tax	(19)	(4)
Comprehensive income	23	48
Noncontrolling interest
Net income	0	0
Other comprehensive loss, net of tax
Change in unrecognized net actuarial loss and prior service cost/benefit related to pension and other postretirement benefits	0	0
Foreign currency translation adjustments	0	0
Net change in unrecognized losses on cash flow hedges	0	0
Total Other comprehensive loss, net of tax	0	0
Comprehensive income	$ 0	$ 0

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 210	$ 335
Accounts Receivable, after Allowance for Credit Loss, Current	1,038	922
Other receivables	216	226
Inventories	1,833	1,630
Prepaid expenses and other current assets	72	55
Total current assets	3,369	3,168
Properties, plants, and equipment	7,552	7,529
Less: accumulated depreciation and amortization	4,918	4,878
Properties, plants, and equipment, net	2,634	2,651
Goodwill	319	322
Operating lease right-of-use assets	122	122
Deferred income taxes	236	229
Other noncurrent assets	88	88
Total assets	6,768	6,580
Current liabilities:
Short-term Debt	100	0
Accounts Payable, Trade, Current	1,781	1,718
Accrued compensation and retirement costs	115	116
Taxes, including income taxes	62	61
Environmental remediation	16	15
Operating lease liabilities	34	35
Derivative Liability, Current	117	23
Other current liabilities	99	95
Total current liabilities	2,324	2,063
Long-term debt	1,595	1,594
Accrued pension benefits	663	717
Accrued other postretirement benefits	400	411
Environmental remediation	45	49
Operating lease liabilities	90	90
Deferred income taxes	11	12
Other noncurrent liabilities	79	85
Total liabilities	5,207	5,021
Contingencies and commitments
Arconic Corporation stockholders’ equity:
Common stock	1	1
Additional capital	3,363	3,368
Accumulated deficit	(510)	(552)
Treasury stock (J)	(177)	(161)
Accumulated other comprehensive loss (K)	(1,130)	(1,111)
Total Arconic Corporation stockholders’ equity	1,547	1,545
Noncontrolling interest	14	14
Total equity	1,561	1,559
Total liabilities and equity	$ 6,768	$ 6,580

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 1	$ 1

Statement of Combined Cash Flow

Statement of Combined Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities
Net income	$ 42	$ 52
Adjustments to reconcile net income to cash used for operations:
Depreciation and amortization	60	63
Deferred income taxes	(4)	4
Restructuring and other charges	5	1
Non-service costs — Pension and OPEB	16	22
Stock-based compensation	5	2
Amortization of debt issuance costs	1	2
Other	11	12
Changes in assets and liabilities, excluding effects of acquisitions, divestitures, and foreign currency translation adjustments:
(Increase) in receivables	(110)	(186)
(Increase) in inventories	(206)	(161)
(Increase) Decrease in prepaid expenses and other current assets	(10)	3
Increase in accounts payable, trade	116	117
(Decrease) in accrued expenses	(28)	(33)
Increase in taxes, including income taxes	1	9
Pension contributions	(4)	(201)
Decrease in noncurrent assets	1	0
Increase in noncurrent liabilities	1	0
Cash used for operations	(103)	(294)
Financing Activities
Proceeds from (Repayments of) Short-term Debt, Maturing in Three Months or Less	100	(9)
Additions to debt (original maturities greater than three months)	0	319
Debt issuance costs	(1)	(4)
Repurchases of common stock (J)	(16)	0
Other	(11)	(9)
Cash provided from financing activities	72	297
Investing Activities
Capital expenditures	(95)	(28)
Payments for (Proceeds from) Other Investing Activities	1	1
Cash used for investing activities	(94)	(27)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	0	0
Net change in cash and cash equivalents and restricted cash	(125)	(24)
Cash and cash equivalents and restricted cash at beginning of year	335	787
Cash and cash equivalents and restricted cash at end of period	$ 210	$ 763

Statement of Changes in Combine

Statement of Changes in Combined Equity - USD ($) $ in Millions	Total	Common stock	Additional capital	Accumulated deficit	Treasury stock	Accumulated other comprehensive loss	Noncontrolling interest
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,447	$ 1	$ 3,348	$ (155)	$ 0	$ (1,761)	$ 14
Common stock, outstanding (in shares)		109,205,226
Net income	52			52			0
Other comprehensive income	(4)					(4)	0
Stock-based compensation	2		2
Other	(7)		(7)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		818,918
Treasury Stock, Value, Acquired, Cost Method	$ (177)
Treasury Stock, Shares, Acquired	(5,418,487)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,490	$ 1	3,343	(103)	0	(1,765)	14
Common stock, outstanding (in shares)		110,024,144
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,559	$ 1	3,368	(552)	(161)	(1,111)	14
Common stock, outstanding (in shares)		105,326,885
Net income	42			42			0
Other comprehensive income	(19)					(19)	0
Treasury Stock, Value, Acquired, Cost Method	(16)				16
Stock-based compensation	5		5
Other	$ (10)		(10)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		963,522
Treasury Stock, Shares, Acquired	(505,982)	(505,982)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,561	$ 1	$ 3,363	$ (510)	$ (177)	$ (1,130)	$ 14
Common stock, outstanding (in shares)		105,784,425

The Separation and Basis of Pre

The Separation and Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Separation and Basis of Presentation	Basis of Presentation The interim Consolidated Financial Statements of Arconic Corporation and its subsidiaries (“Arconic” or the “Company”) are unaudited. These Consolidated Financial Statements include all adjustments, consisting only of normal recurring adjustments, considered necessary by management to fairly state the Company’s results of operations, financial position, and cash flows. The results reported in these Consolidated Financial Statements are not necessarily indicative of the results that may be expected for the entire year. The 2021 year-end balance sheet data was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America (GAAP). This Form 10-Q report should be read in conjunction with Arconic’s Annual Report on Form 10-K for the year ended December 31, 2021, which includes all disclosures required by GAAP. In accordance with GAAP, certain situations require management to make estimates based on judgments and assumptions, which may affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements. They also may affect the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates upon subsequent resolution of identified matters. References in these Notes to “ParentCo” refer to Arconic Inc., a Delaware corporation, and its consolidated subsidiaries (through March 31, 2020, at which time it was renamed Howmet Aerospace Inc. (“Howmet”)). On April 1, 2020 (the “Separation Date”), ParentCo separated into two standalone, publicly-traded companies, Arconic Corporation and Howmet (the “Separation”). In connection with the Separation, as of March 31, 2020, the Company and Howmet entered into several agreements to effect the Separation, including a Separation and Distribution Agreement and a Tax Matters Agreement. See Note A to the Consolidated Financial Statements in Part II Item 8 of Arconic Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021 for additional information. Also, references in these Notes to “2016 Separation Transaction” refer to the November 1, 2016 separation of Alcoa Inc., a Pennsylvania corporation, into two standalone, publicly-traded companies, Arconic Inc. and Alcoa Corporation. In the 2022 first quarter, the Company recorded a net gain of $3 in Cost of goods sold related to the unrealized impact associated with the change in the estimated fair value of natural gas supply contracts now determined to be derivatives (see Note P ). This amount was comprised of an unrealized loss of $5 for the 2022 first quarter, an unrealized gain of $6 for the 2021 annual period, and an unrealized gain of $2 for the 2020 fourth quarter. The out-of-period amounts were not material to any interim or annual period.

Recently Adopted and Recently I

Recently Adopted and Recently Issued Accounting Guidance	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Recently Adopted and Recently Issued Accounting Guidance	Recently Adopted and Recently Issued Accounting Guidance Issued In March 2020, the FASB issued guidance that provides optional expedients and exceptions for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. These expedients and exceptions may be used when applying GAAP, if certain criteria are met, to contracts, hedging relationships, and other transactions that reference London Inter-Bank Offered Rate (LIBOR) or another reference rate expected to be discontinued because of such reform. The purpose of this guidance is to provide relief to entities from experiencing unintended accounting and/or financial reporting outcomes or consequences due to reference rate reform. This guidance became effective immediately on March 12, 2020 and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022, after which time the expedients and exceptions expire. In January 2021, the FASB issued clarifying guidance to specify that certain of the optional expedients and exceptions apply to derivatives that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. This additional guidance may be applied on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively in the manner previously described for the guidance issued on March 12, 2020. As of March 31, 2022, Arconic has not experienced any unintended outcomes or consequences of reference rate reform that would necessitate the adoption of this guidance. Additionally, the Company’s credit agreement, which previously provided a credit facility that was referenced to LIBOR in certain borrowing situations, was amended in February 2022 to replace LIBOR with the Secured Overnight Financing Rate (SOFR) (see Note N ). Accordingly, the Company does not need to consider application of this guidance related to its credit agreement. Management will continue to closely monitor all potential instances of reference rate reform to determine if adoption of this guidance becomes necessary in the future.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The following table disaggregates revenue by major end market served. Differences between segment totals and consolidated Arconic are in Corporate. First quarter ended March 31, Rolled Building and Extrusions Total 2022 Ground Transportation $ 726 $ — $ 29 $ 755 Packaging 397 — — 397 Building and Construction 84 291 — 375 Aerospace 167 — 43 210 Industrial Products and Other 430 — 25 455 Total end-market revenue $ 1,804 $ 291 $ 97 $ 2,192 2021 Ground Transportation $ 637 $ — $ 25 $ 662 Packaging 219 — — 219 Building and Construction 51 236 — 287 Aerospace 109 — 29 138 Industrial Products and Other 348 — 21 369 Total end-market revenue $ 1,364 $ 236 $ 75 $ 1,675

Segment and Related Information

Segment and Related Information​	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment and Related Information​	Segment and Related Information Arconic’s profit or loss measure for its reportable segments is Segment Adjusted EBITDA (Earnings before interest, taxes, depreciation, and amortization). The Company calculates Segment Adjusted EBITDA as Total sales (third-party and intersegment) minus each of (i) Cost of goods sold, (ii) Selling, general administrative, and other expenses, and (iii) Research and development expenses, plus each of (i) Stock-based compensation expense, (ii) Metal price lag, and (iii) Unrealized (gains) losses on mark-to-market hedging instruments and derivatives (see below). Arconic’s Segment Adjusted EBITDA may not be comparable to similarly titled measures of other companies’ reportable segments. Effective in the first quarter of 2022, management modified the Company’s definition of Segment Adjusted EBITDA to exclude the impact of unrealized gains and losses on mark-to-market hedging instruments and derivatives. This modification was deemed appropriate as Arconic is considering entering into additional hedging instruments in future reporting periods if favorable conditions exist to mitigate cost inflation. Certain of these instruments may not qualify for hedge accounting resulting in unrealized gains and losses being recorded directly to Sales or Cost of goods sold, as appropriate (i.e., mark-to-market). Additionally, this change was also applied to derivatives that do not qualify for hedge accounting for consistency purposes. The Company does not have a regular practice of entering into contracts that are treated as derivatives for accounting purposes. Ultimately, this change was made to maintain the transparency and visibility of the underlying operating performance of Arconic’s reportable segments. Prior to this change, the Company had a limited number of hedging instruments and derivatives that did not qualify for hedge accounting, the unrealized impact of which was not material to Arconic’s Segment Adjusted EBITDA performance measure. Accordingly, prior period information presented was not recast to reflect this change. 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): First quarter ended March 31, Rolled Building and Extrusions Total 2022 Sales: Third-party sales $ 1,804 $ 291 $ 97 $ 2,192 Intersegment sales 12 — 1 13 Total sales $ 1,816 $ 291 $ 98 $ 2,205 Segment Adjusted EBITDA $ 176 $ 44 $ (5) $ 215 Provision for depreciation and amortization $ 48 $ 4 $ 4 $ 56 2021 Sales: Third-party sales $ 1,364 $ 236 $ 75 $ 1,675 Intersegment sales 7 — — 7 Total sales $ 1,371 $ 236 $ 75 $ 1,682 Segment Adjusted EBITDA $ 165 $ 28 $ (4) $ 189 Provision for depreciation and amortization $ 48 $ 4 $ 6 $ 58 The following table reconciles total Segment Adjusted EBITDA to consolidated net income attributable to Arconic Corporation: First quarter ended March 31, 2022 2021 Total Segment Adjusted EBITDA $ 215 $ 189 Unallocated amounts: Corporate expenses (1) (9) (9) Stock-based compensation expense (5) (2) Metal price lag (2) (36) 5 Unrealized gains on mark-to-market hedging instruments and derivatives ( P ) 2 — Provision for depreciation and amortization (60) (63) Restructuring and other charges ( E ) (5) (1) Other (3) (6) (6) Operating income 96 113 Interest expense (25) (23) Other expenses, net ( F ) (17) (22) Provision for income taxes ( H ) (12) (16) Net income attributable to noncontrolling interest — — Consolidated net income attributable to Arconic Corporation $ 42 $ 52 ________________ (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) 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.

Restructuring and Other Charges

Restructuring and Other Charges	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges	Restructuring and Other Charges In the 2022 first quarter, Arconic recorded Restructuring and other charges of $5, which were comprised of the following components: a $4 charge related to several legacy non-U.S. matters, including $1 for an environmental remediation obligation related to Italy (see Environmental Matters in Note O ) and $1 for the full settlement of certain employee retirement benefits related to Brazil (see Note G ); and a $1 charge related to idling certain operations in the Extrusions segment (actions initiated in 2021). In the 2021 first quarter, Arconic recorded Restructuring and other charges of $1, which were comprised of the following components: a $1 additional loss on the sale of an aluminum rolling mill in Brazil; a $1 credit for the reversal of reserves established in prior periods; and a $1 net charge for other items. 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: First quarter ended March 31, 2022 2021 Rolled Products $ — $ 1 Building and Construction Systems — (1) Extrusions 1 1 Segment total 1 1 Corporate 4 — $ 5 $ 1 Activity and reserve balances for restructuring charges were as follows: Layoff costs Other costs Total Reserve balances at December 31, 2020 $ 13 $ 1 $ 14 Cash payments (10) (5) (15) Restructuring charges 3 6 9 Other (1) (4) (1) (5) Reserve balances at December 31, 2021 2 1 3 Cash payments (1) (1) (2) Restructuring charges — 1 1 Other (1) — (1) (1) Reserve balances at March 31, 2022 (2) $ 1 $ — $ 1 _____________________ (1) Other includes reversals of previously recorded restructuring charges and the effects of foreign currency translation. (2) The remaining reserves are expected to be paid in cash during the remainder of 2022.

Other Expenses (Income), Net

Other Expenses (Income), Net	3 Months Ended
	Mar. 31, 2022
Other Income and Expenses [Abstract]
Other Expenses (Income), Net	Other Expenses, Net First quarter ended March 31, 2022 2021 Non-service costs — Pension and OPEB ( G ) $ 14 $ 20 Foreign currency losses, net 6 2 Other, net (3) — $ 17 $ 22

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits The components of net periodic benefit cost for defined benefit plans were as follows: First quarter ended March 31, 2022 2021 Pension benefits Service cost $ 5 $ 6 Interest cost 16 17 Expected return on plan assets (24) (33) Recognized net actuarial loss 19 32 Settlements 1 — Net periodic benefit cost (1) $ 17 $ 22 Other postretirement benefits Service cost $ 1 $ 1 Interest cost 3 3 Recognized net actuarial loss 2 2 Amortization of prior service benefit (2) (1) Net periodic benefit cost (1) $ 4 $ 5 __________________ (1) Service cost was included within Cost of goods sold, Settlements were included within Restructuring and other charges, and all other components were included in Other expenses, net on the accompanying Statement of Consolidated Operations. Pension Funding — In January 2021, the Company contributed a total of $200 to its two funded U.S. defined benefit pension plans, comprised of the estimated minimum required funding for 2021 of $183 and an additional $17. Arconic had no minimum required funding due in the 2022 first quarter for these two plans. The Company expects to contribute a total of $22 to these two plans in the remainder of 2022.

Income Taxes_

Income Taxes​	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Arconic’s year-to-date tax provision is comprised of the most recent estimated annual effective tax rate applied to year-to-date pretax ordinary income or loss. The tax impacts of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are recorded discretely in the interim period in which they occur. In addition, the tax provision is adjusted for the interim period impact of non-benefited pretax losses. For the 2022 first quarter, the estimated annual effective tax rate, before discrete items, applied to ordinary income was 27.8%. This rate differs by 6.8 percentage points from the U.S. federal statutory rate of 21.0% primarily due to estimated U.S. tax on global intangible low-taxed income, non-deductible costs, the state tax impact of domestic taxable income, foreign losses in jurisdictions subject to existing valuation allowances, and U.S. tax on foreign earnings, partially offset by foreign income taxed in lower rate jurisdictions. For the 2021 first quarter, the estimated annual effective tax rate, before discrete items, applied to ordinary income was 27.9%. This rate differs by 6.9 percentage points from the U.S. federal statutory rate of 21.0% primarily due to estimated U.S. tax on global intangible low-taxed income, the state tax impact of domestic taxable income, and U.S. tax on foreign earnings. The effective tax rate including discrete items was 22.2% in the 2022 first quarter and 23.5% in the 2021 first quarter. The following table details the components of Provision for income taxes: First quarter ended March 31, 2022 2021 Pretax ordinary income at estimated annual effective tax rate $ 15 $ 19 Interim period treatment of operational losses in foreign jurisdictions for which no tax benefit is recognized* 1 — Discrete items (4) (3) Provision for income taxes $ 12 $ 16 __________________ * The interim period impact related to operational losses in foreign jurisdictions for which no tax benefit is recognized will reverse by the end of the calendar year.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share (EPS) amounts are computed by dividing Net income attributable to Arconic by the weighted-average number of common shares outstanding. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive share equivalents outstanding. Specific to Arconic, such share equivalents consist of outstanding employee stock awards (excluding out-of-the-money stock options – see below). For periods in which the Company generates net income, the diluted weighted-average number of shares include common share equivalents associated with outstanding employee stock awards. For periods in which the Company generates a net loss, common share equivalents are excluded from the diluted weighted-average number of shares as their effect is anti-dilutive. The share information used to compute basic and diluted EPS attributable to Arconic common stockholders was as follows (shares in millions): First quarter ended March 31, 2022 2021 Weighted-average shares outstanding – basic 105.4 109.8 Effect of dilutive share equivalents: Stock units 3.0 3.3 Stock options 0.1 0.1 Weighted-average shares outstanding – diluted 108.5 113.2 Anti-dilutive share equivalents: Stock units — — Stock options*: In-the-money — — Out-of-the-money — — — — ________________

Preferred and Common Stock

Preferred and Common Stock	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' Equity Note Disclosure	Preferred and Common StockOn May 4, 2021, Arconic announced that its Board of Directors approved a share repurchase program authorizing the Company to repurchase shares of its outstanding common stock up to an aggregate transactional value of $300 over a two

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income​	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income​	Accumulated Other Comprehensive Loss The following table details the activity of the three components that comprise Accumulated other comprehensive loss for Arconic (such activity for Noncontrolling interest was immaterial for all periods presented): First quarter ended March 31, 2022 2021 Pension and other postretirement benefits ( G ) Balance at beginning of period $ (1,121) $ (1,791) Other comprehensive income: Unrecognized net actuarial loss and prior service cost/benefit 55 (1) Tax expense (12) — Total Other comprehensive income (loss) before reclassifications, net of tax 43 (1) Amortization of net actuarial loss and prior service cost/benefit (1) 20 33 Tax expense (2) (5) (7) Total amount reclassified from Accumulated other comprehensive loss, net of tax (5) 15 26 Total Other comprehensive income 58 25 Balance at end of period $ (1,063) $ (1,766) Foreign currency translation Balance at beginning of period $ 25 $ 29 Other comprehensive loss (3) (7) (7) Balance at end of period $ 18 $ 22 Cash flow hedges ( P ) Balance at beginning of period $ (15) $ 1 Other comprehensive loss: Net change from periodic revaluations (143) (35) Tax benefit 33 8 Total Other comprehensive loss before reclassifications, net of tax (110) (27) Net amount reclassified to earnings (4) 53 7 Tax expense (2) (13) (2) Total amount reclassified from Accumulated other comprehensive (loss) income, net of tax (5) 40 5 Total Other comprehensive loss (70) (22) Balance at end of period $ (85) $ (21) Accumulated other comprehensive loss $ (1,130) $ (1,765) _____________________ (1) These amounts were included in the non-service component of net periodic benefit cost for pension and other postretirement benefits (see Note G ). (2) These amounts were reported in Provision for income taxes on the accompanying Statement of Consolidated Operations. (3) In all periods presented, there were no tax impacts related to rate changes and no amounts were reclassified to earnings. (4) These amounts relate to aluminum, a portion of which were reported in both Sales and Cost of goods sold on the accompanying Statement of Consolidated Operations (see Note P ). For both periods presented, amounts related to energy and alloying materials were not material. (5) A positive amount indicates a corresponding charge to earnings and a negative amount indicates a corresponding benefit to earnings. These amounts were reflected on the accompanying Statement of Consolidated Operations in the line items indicated in footnotes 1 through 4.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories March 31, 2022 December 31, 2021 Finished goods $ 449 $ 350 Work-in-process 1,175 1,105 Purchased raw materials 141 109 Operating supplies 68 66 $ 1,833 $ 1,630

Leases_

Leases​	3 Months Ended
	Mar. 31, 2022
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 $13 and $16 for the first quarter of 2022 and 2021, respectively. Right-of-use assets obtained in exchange for operating lease obligations in the first quarter of 2022 and 2021 were $11 and $5, respectively. Future minimum contractual operating lease obligations were as follows: March 31, 2022 2022 $ 31 2023 31 2024 24 2025 18 2026 13 Thereafter 30 Total lease payments $ 147 Less: imputed interest 23 Present value of lease liabilities $ 124 Arconic’s operating leases at both March 31, 2022 and December 31, 2021 had a weighted-average remaining lease term of 6.1 years and a weighted-average discount rate of 5.8%.

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt 2022 Activity —Arconic maintains a five-year credit agreement, dated May 13, 2020, with a syndicate of lenders named therein and Deutsche Bank AG New York Branch as administrative agent (the “ABL Credit Agreement”). The ABL Credit Agreement provides for a senior secured asset-based revolving credit facility (the “ABL Credit Facility”) to be used, generally, for working capital or other general corporate purposes. See Note Q to the Consolidated Financial Statements in Part II Item 8 of Arconic’s Annual Report on Form 10-K for the year ended December 31, 2021 (filed on February 22, 2022) for additional information related to the ABL Credit Agreement. On February 16, 2022, the Company’s ABL Credit Agreement was amended to increase the revolving commitments under the ABL Credit Facility to $1,200 from $800. Additionally, the accordion feature of the ABL Credit Facility was revised to provide for the Company to request a further increase to the revolving commitments in an aggregate principal amount equal to the greater of $350 and the excess of the borrowing base over the ABL Credit Facility commitments. Furthermore, the LIBOR-based floating interest rate was replaced with a term SOFR-based interest rate, plus a credit spread adjustment equal to 0.10%, 0.15% or 0.25% per annum for SOFR-based borrowings with interest periods of one month, three months, or six months, respectively, under the ABL Credit Facility. Arconic paid $1 in upfront costs associated with these amendments. In March 2022, the Company borrowed $100 under the ABL Credit Facility. This borrowing was designated as a SOFR loan with an initial three-month interest period. As of March 31, 2022, the applicable rate on this borrowing was 2.50%. Arconic may repay early or extend a part or all of this borrowing. Availability under the ABL Credit Facility is subject to a monthly borrowing base calculation, which, in general, is determined by applying a predetermined percentage to the amount of eligible accounts receivable and inventory, less customary reserves. As of March 31, 2022, the available balance was $1,065 (net of outstanding borrowing of $100 and letters of credit of $35). 2021 Activity —On March 3, 2021, the Company completed a Rule 144A (U.S. Securities Act of 1933, as amended) debt offering for an additional $300 aggregate principal amount of 6.125% Senior Secured Second-Lien Notes due 2028 (the “Additional 2028 Notes”). The Additional 2028 Notes were issued under the indenture governing Arconic’s existing 6.125% Senior Secured Second-Lien Notes due 2028 (the “Existing 2028 Notes”). Other than with respect to the date of issuance and issue price, the Additional 2028 Notes are treated as a single series with and have the same terms as the Existing 2028 Notes. See Note Q to the Consolidated Financial Statements in Part II Item 8 of Arconic’s Annual Report on Form 10-K for the year ended December 31, 2021 (filed on February 22, 2022) for additional information related to the Existing 2028 Notes. The Additional 2028 Notes were sold at 106.25% of par (i.e., a premium) and, after reflecting a discount to the initial purchasers of the Additional 2028 Notes, the Company received $315 in net proceeds from the debt offering. Arconic used the net proceeds of this issuance to fund an annuitization of certain U.S. defined benefit pension plan obligations in April 2021. The premium ($19) and costs to complete the financing ($5) were deferred and are being amortized to interest expense over the term of the Additional 2028 Notes. The amortization of the premium is reflected as a reduction to interest expense and the amortization of the costs to complete the financing is reflected as an addition to interest expense. Interest on the Additional 2028 Notes is paid semi-annually in February and August and commenced August 15, 2021.

Contingencies and Commitments_

Contingencies and Commitments​	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments​	Contingencies and Commitments Unless specifically described to the contrary, all matters within Note O are the full responsibility of Arconic pursuant to the Separation and Distribution Agreement. Additionally, the Separation and Distribution Agreement provides for cross-indemnities between the Company and Howmet for claims subject to indemnification. Contingencies Environmental Matters. Arconic participates in environmental assessments and cleanups at several locations. These include owned or operating facilities and adjoining properties, previously owned or operating facilities and adjoining properties, and waste sites, including Superfund (Comprehensive Environmental Response, Compensation and Liability Act (CERCLA)) sites. A liability is recorded for environmental remediation when a cleanup program becomes probable and the costs can be reasonably estimated. As assessments and cleanups proceed, the liability is adjusted based on progress made in determining the extent of remedial actions and related costs. The liability can change substantially due to factors such as, among others, the nature and extent of contamination, changes in remedial requirements, and technological changes. The Company’s remediation reserve balance was $61 and $64 (of which $16 and $15, respectively, was classified as a current liability) at March 31, 2022 and December 31, 2021, respectively, and reflects the most probable costs to remediate identified environmental conditions for which costs can be reasonably estimated. In the 2022 first quarter, the Company recorded a charge of $1 (see Note E ) and increased the remediation reserve by the same amount to reflect an estimate of Arconic’s share of newly-identified costs for additional remediation work related to a recently completed project at a former site in Italy where the Company is one of several responsible parties. The additional remediation work is subject to review by Italy’s Ministry of the Environment. Payments related to remediation expenses applied against the reserve were $4 in the 2022 first quarter, which include expenditures currently mandated, as well as those not required by any regulatory authority or third party. The Separation and Distribution Agreement includes provisions for the assignment or allocation of environmental liabilities between Arconic and Howmet, including certain remediation obligations associated with environmental matters. In general, the respective parties are responsible for the environmental matters associated with their operations, and with the properties and other assets assigned to each. Additionally, the Separation and Distribution Agreement lists environmental matters with a shared responsibility between the two companies with an allocation of responsibility and the lead party responsible for management of each matter. For matters assigned to Arconic and Howmet under the Separation and Distribution Agreement, the companies have agreed to indemnify each other in whole or in part for environmental liabilities arising from operations prior to the Separation Date. The following description provides details regarding the Company's largest reserve (next largest is $5), which relates to one of Arconic's current operating locations. Massena West, NY— Arconic has an ongoing remediation project related to the Grasse River, which is adjacent to the Company’s Massena plant site. Many years ago, it was determined that sediments and fish in the river contain varying levels of polychlorinated biphenyls (PCBs). The project, which was selected by the U.S. Environmental Protection Agency (EPA) in a Record of Decision issued in April 2013, is aimed at capping PCB contaminated sediments with concentration in excess of one part per million in the main channel of the river and dredging PCB contaminated sediments in the near-shore areas where total PCBs exceed one part per million. Arconic completed the final design phase of the project, which was approved by the EPA in March 2019. Following the EPA’s approval, the actual remediation fieldwork commenced. In April 2020, the EPA approved an addendum to the final remedial design to address newly-identified matters, including river navigation issues, which resulted in changing the original remedy for a specific segment of the river to dredging from capping. In the 2021 third quarter, following substantial completion of remedial construction activities on the Grasse River and an assessment of anticipated remaining future costs, primarily for post-construction monitoring, the reserve was reduced by $11. As the project progresses, further changes to the reserve may be required due to factors such as, among others, additional changes in remedial requirements, increased site restoration costs, and incremental ongoing operation and maintenance costs. At March 31, 2022 and December 31, 2021, the reserve balance associated with this matter was $28 and $30, respectively. Approximately $3 of the remaining expenditures represent costs that are expected to be paid in 2022. The other $25 in remaining expenditures, most of which relates to operations, maintenance, and monitoring work, are expected to occur between 2023 and 2027. Litigation. All references to ParentCo in the matters described under this section Litigation refer to Arconic Inc. only and do not include its subsidiaries, except as otherwise stated. Federal Antimonopoly Service Of The Russian Federation Litigation —The Federal Antimonopoly Service of the Russian Federation (“FAS”) filed a lawsuit on March 17, 2020 with the Arbitrazh (State Commercial) Court of Samara Region against two of the Company’s subsidiaries, Arconic Rus Investment Holdings LLC (“LLC ARIH”) and AlTi Forge Holding Sarl (the “Arconic Russian Holding Companies”), naming Elliott Associates L.P., Elliott International L.P., and Elliot International Capital Advisors Inc. (“Elliott”) as third parties. Also named as interested parties are: Parent Co. and certain of its foreign subsidiaries; and Arconic Netherland B.V., the Company’s subsidiary that directly and indirectly owns LLC ARIH, Arconic SMZ JSC and JSC AlTi Forge (the “Arconic Russian Subsidiaries”). FAS alleges that Elliott indirectly acquired control over the Arconic Russian Subsidiaries when, in May 2019, directors who had previously been nominated by Elliott and appointed or elected to Parent Co.’s board of directors pursuant to certain settlement agreements among Parent Co. and Elliott constituted a majority of that board as a result of a reduction in the size of the board. FAS claims alleged non-compliance with Russian Federal Law No. 57-FZ, which governs foreign ownership of certain Russian companies and requires certain governmental approvals for a foreign investor to acquire control over strategically important Russian companies. On April 6, 2020, the Samara Court granted injunctions against the Arconic Russian Holding Companies prohibiting the taking of certain corporate governance actions, including with respect to: (i) the disposal of shares in the Arconic Russian Subsidiaries; and (ii) the making of certain decisions with respect to the Arconic Russian Subsidiaries, including decisions regarding the payment of dividends, placement of bonds, amendment of bylaws and internal documents, the appointment, change and compensation of the Arconic Russian Subsidiaries’ CEO, and the election of the Arconic Russian Subsidiaries’ board of directors. On April 29, 2020, the Arconic Russian Holding Companies simultaneously filed an appeal and motion to revoke the previously issued injunctions. Both the appeal and motion to revoke were denied. A hearing on the merits of the claim was scheduled for June 8, 2021 but was postponed several times and most recently further postponed until July 21, 2022. As a consequence of the alleged violation, FAS is seeking removal and exclusion of the Arconic Russian Holding Companies from the affairs of the Arconic Russian Subsidiaries, resulting in the deprivation of the benefits of their ownership interests in the Arconic Russian Subsidiaries, including the rights currently restricted in the injunctions granted on April 6, 2020. We continue to operate the Samara location without restrictions other than as disclosed above, and we maintain a renewable intercompany loan facility that could be, but has not yet been utilized. The following table presents selected financial information related to our operations in Russia: March 31, 2022 December 31, 2021 Cash and cash equivalents $ 26 $ 79 Receivables from customers 131 120 Inventories 130 102 Properties, plants and equipment, net 196 200 Accounts payable, trade 46 47 For the first quarter ended March 31, 2022 For the year ended December 31, 2021 Third-party sales* $ 233 $ 968 Segment Adjusted EBITDA 18 87 _____________________ * In all periods presented, Third-party sales includes aluminum products manufactured at Arconic’s plant in Russia and sold through the Company’s international selling company located in Hungary. At March 31, 2022 and December 31, 2021, the Cash and cash equivalents presented above were held in Russia and were not available for dividends. Cash and cash equivalents held in Russia represented 2% of Arconic’s liquidity (comprised of Cash and cash equivalents of $210 and undrawn availability of $1,065 under Arconic’s ABL Credit Agreement (see Note N )) at March 31, 2022. In addition, for the quarter ended March 31, 2022 and year ended December 31, 2021, our Samara, Russia facility generated 13% and 16% of Third-party sales (including packaging, industrial, aerospace, and defense), respectively, and 10% and 13% of Segment Adjusted EBITDA, respectively, for the Rolled Products segment. In March 2022, we announced a pause in new contracts in Russia and we are deliberately and actively pursuing additional options for our Russian business while complying with legal and contractual obligations. We cannot at this time reasonably estimate the likelihood or timing of any resolution of the regulatory proceedings or underlying claims, whether such resolution would include the removal of the injunctions or the imposition of additional restrictions, or whether we would divest assets related to the Samara facility. The potential impacts of an unfavorable resolution of the proceedings and underlying claims include: • continued unavailability of funds for the payment of dividends to Arconic Corporation; • decreases in or loss of third-party sales and Segment Adjusted EBITDA generated by our Samara facility; • restrictions on capital investments in the facility; • losses on any potential divestiture; • the inability of other Arconic facilities to assume capacity to offset decreases in sales or Segment Adjusted EBIDTA or to assume potential divested capacity; and • increased expenses related to relocation of capacity to other facilities. Any of the foregoing could have a significant indirect impact on the performance of our other locations. In addition, any impact on our ability to fulfill delivery obligations could subject us to reputational harm and potential litigation involving customers and suppliers. Increased restrictions on our operation of the Samara facility may have a material adverse effect on our financial condition, results of operations or cash flows. Given the preliminary nature of this matter and the uncertainty of litigation and of efforts to resolve this matter with FAS, we cannot reasonably estimate at this time the likelihood of an unfavorable outcome or the possible loss or range of losses in the event of an unfavorable outcome. Additionally, our operations in Russia, and our ability to resolve the proceedings and underlying claims related to our facility in Samara, Russia, are likely to be negatively impacted by the disruption and geopolitical instability resulting from the ongoing conflict between Russia and Ukraine. Reynobond PE —On June 13, 2017, the Grenfell Tower in London, U.K. caught fire resulting in fatalities, injuries, and damage. A French subsidiary of Arconic Corporation (of ParentCo at that time), Arconic Architectural Products SAS (AAP SAS), supplied a product, Reynobond PE, to its customer, a cladding system fabricator, which used the product as one component of the overall cladding system on Grenfell Tower. The fabricator supplied its portion of the cladding system to the facade installer, who then completed and installed the system under the direction of the general contractor. Neither ParentCo nor AAP SAS was involved in the design or installation of the system used at the Grenfell Tower, nor did it have a role in any other aspect of the building’s refurbishment or original design. Regulatory investigations into the overall Grenfell Tower matter are being conducted, including a criminal investigation by the London Metropolitan Police Service (the “Police”), a Public Inquiry by the British government, and a consumer protection inquiry by a French public authority. The Public Inquiry was announced by the U.K. Prime Minister on June 15, 2017 and subsequently was authorized to examine the circumstances leading up to and surrounding the Grenfell Tower fire in order to make findings of fact and recommendations to the U.K. Government on matters such as the design, construction, and modification of the building, the role of relevant public authorities and contractors, the implications of the fire for the adequacy and enforcement of relevant regulations, arrangements in place for handling emergencies, and the handling of concerns from residents, among other things. Hearings for Phase 1 of the Public Inquiry began on May 21, 2018 and concluded on December 12, 2018. Phase 2 hearings of the Public Inquiry began in early 2020, following which a final report will be written and subsequently published. As Phase 2 of the public inquiry continues, the testimony has supported AAP SAS’s position that the choice of materials and the responsibility of ensuring compliance of the cladding system with relevant U.K. building code and regulations was with those individuals or entities who designed and installed the cladding system such as the architects, fabricators, contractors and building owners. The ongoing hearings in the U.K. have revealed serious doubts about whether these third parties had the necessary qualifications or expertise to carry out the refurbishment work at Grenfell Tower, adequately oversaw the process, conducted the required fire safety testing or analysis, or otherwise complied with their obligations under U.K. regulations. AAP SAS is participating as a Core Participant in the Public Inquiry and is also cooperating with the ongoing parallel investigation by the Police. Arconic Corporation does not sell and ParentCo previously stopped selling the PE product for architectural use on buildings. Given the preliminary nature of these investigations and the uncertainty of potential future litigation, Arconic Corporation cannot reasonably estimate at this time the likelihood of an unfavorable outcome or the possible loss or range of losses in the event of an unfavorable outcome. United Kingdom Litigation. Multiple claimant groups comprised of survivors and estates of decedents of the Grenfell Tower fire have filed claims in the U.K. arising from that fire, including as follows: • On June 12, 2020, four claimants represented by Birnberg Peirce Ltd filed suit against AAP SAS. • On June 12, 2020, two claimants represented by Howe & Co Solicitors filed suit against AAP SAS. • On June 26, 2020, three claimants represented by Russell-Cooke LLP filed suit against AAP SAS. • On December 23, 2020, several additional suits were filed by claimant groups comprised of survivors and estates of decedents. These suits were all filed against the same group of 23 defendants: AAP SAS, Arconic Corporation, Howmet Aerospace Inc., the Royal Borough of Kensington and Chelsea, the Royal Borough of Kensington and Chelsea Tenant Management Organisation Ltd, the London Fire Commissioner, the UK Home Office, The Ministry of Housing, Communities and Local Government, Rydon Maintenance Ltd, Celotex Ltd, Saint-Gobain Construction Products UK Limited, Kingspan Insulation Limited, Kingspan Group PLC (suits have since been discontinued), Studio E Architects Ltd (In liquidation), Harley Facades Ltd, Harley Curtain Wall Limited (In liquidation), CEP Architectural Facades Ltd, Exova (U.K.) Ltd, CS Stokes & Associates Ltd, Artelia Projects UK Limited (suits have since been discontinued), Whirlpool UK Appliances Limited, Whirlpool Company Polska Sp.z.o.o. and Whirlpool Corporation. These suits include as follows (represent preliminary best estimates of claimants in each suit): ◦ Seven claimants represented by Deighton Pierce Glynn; ◦ Six (previously five) claimants represented by SMQ Legal Services; ◦ Three (previously four) claimants represented by Scott Moncrieff; ◦ Twenty-seven (previously thirty-one) claimants represented by Saunders Law; ◦ Thirty-three (previously thirty-four) claimants represented by Russell Cooke LLP. On March 29, 2022, Russell Cooke issued a further suit against the above-mentioned 21 Defendants on behalf of one Claimant. It is anticipated that the suits issued by Russell Cooke will be consolidated in due course; ◦ Forty-seven (previously forty) claimants represented by Imran Khan & Partners; ◦ Fifty-eight (previously sixty-one) claimants represented by Howe & Co.; ◦ One hundred fourteen claimants represented by Hodge Jones and Allen Solicitor. On March 29, 2022, Hodge Jones and Allen issued a further suit against the above-mentioned 21 Defendants on behalf of five Claimants. It is anticipated that the suits issued by Hodge Jones and Allen will be consolidated in due course; ◦ Twenty-three (previously nineteen) claimants represented by Hickman & Rose; ◦ Ten (previously five) claimants represented by Duncan Lewis Solicitors; ◦ One hundred thirteen (previously one hundred eighteen) claimants represented by Birnberg Peirce; ◦ Three hundred forty-one claimants represented by Bindmans LLP. On March 31, 2022, Bindmans issued a further suit against the above-mentioned 21 Defendants on behalf of five Claimants. It is anticipated that the suits issued by Bindmans will be consolidated in due course; ◦ Seventy-six (previously eighty-two) claimants represented by Bhatt Murphy Ltd; and ◦ Twenty-four (previously twenty-seven) claimants represented by Slater & Gordon. Multiple claimant groups comprised of emergency responders who attended the Grenfell Tower fire have also filed claims against AAP SAS arising from that fire, including as follows: • On June 11, 2020, 98 (previously 80) firefighters represented by Thompsons Solicitors filed suit against AAP SAS, as well as the Royal Borough of Kensington and Chelsea, the Royal Borough of Kensington and Chelsea Tenant Management Organisation Ltd, Celotex Ltd, Exova (U.K.) Ltd, Rydon Maintenance Ltd, Studio E Architects Ltd, Harley Facades Ltd, CEP Architectural Facades Ltd, CS Stokes & Associates Ltd, and the London Fire Commissioner. Since then, another 10 (previously 7) firefighters have sought to be added to the suit. • On June 12, 2020, 36 (previously 27) police officers represented by Penningtons Manches Cooper LLP filed suit against AAP SAS, as well as the Royal Borough of Kensington and Chelsea, the Royal Borough of Kensington and Chelsea Tenant Management Organisation Ltd, Celotex Ltd, Exova (U.K.) Ltd, Rydon Maintenance Ltd, Studio E Architects Ltd, Harley Facades Ltd, CEP Architectural Facades Ltd, CS Stokes & Associates Ltd, London Fire Commissioner, and the Commissioner of the Police of the Metropolis. Since then, some claimants have withdrawn and others have sought to be added to the suit. • On June 12, 2020, two firefighters represented by Pattinson and Brewer filed suit against AAP SAS, as well as the Royal Borough of Kensington and Chelsea, the Royal Borough of Kensington and Chelsea Tenant Management Organisation Ltd, Celotex Ltd, Exova (U.K.) Ltd, Rydon Maintenance Ltd, Studio E Architects Ltd, Harley Facades Ltd, CEP Architectural Facades Ltd, CS Stokes & Associates Ltd, and the London Fire Commissioner. A third firefighter, also represented by Pattinson and Brewer, brought a claim against the same defendants on June 15, 2020. One of the original firefighter claimants has now withdrawn from the suit. On December 17, 2020, a claim was issued by the Royal Borough of Kensington and Chelsea and the Royal Borough of Kensington and Chelsea Tenant Management Organisation Ltd against: (1) Whirlpool Company Polska Spolka z Organiczona; and (2) AAP SAS. The Claimants seek damages in respect of their own losses and/or a contribution to the extent that they are found to be liable by the London High Court for any losses arising out of the Grenfell Tower fire on June 14, 2017. On March 29, 2022, the Royal Borough of Kensington and Chelsea and the Royal Borough of Kensington and Chelsea Tenant Management Organisation Ltd sought permission to join two further Defendants to these proceedings, namely: (i) Whirlpool EMEA S.p.A.; and (ii) Whirlpool UK Appliances Limited. All of these claims were filed in the High Court in London. On October 2, 2020, the High Court ordered that: (a) the suits of the survivors and estates of decedents that were issued in June 2020 be stayed until a hearing scheduled by the High Court for June 9-10, 2021; and (b) that the suits of emergency responders be stayed until a hearing scheduled by the High Court for July 7-8, 2021. The hearing scheduled for June 9-10, 2021 was subsequently vacated by the Court. The above-mentioned suits brought by: (1) the survivors and estates of decedents; (2) the emergency responders; and (3) the Royal Borough of Kensington and Chelsea for contributions, were heard together at a procedural hearing on July 7-8, 2021, before Senior Master Fontaine. At the hearing, the Senior Master made several directions for the future management of the Grenfell Tower litigation, including staying all suits against Arconic Corporation and its affiliates until the next directions hearing, which was held on April 26, 2022. The Senior Master has not yet issued a decision as to whether to continue the stay following the April 26, 2022 directions hearing. The duration of the prior stay was intended to allow Arconic Corporation, along with several other co-defendants to the above-mentioned litigations, to engage in preliminary discussions with the claimants' legal representatives in an attempt to reach a mutually agreeable settlement. The parties have now agreed to overarching terms as to the form of Alternative Dispute Resolution that they are willing to participate in. Those discussions are ongoing. Given the preliminary nature of these matters and the uncertainty of litigation, Arconic Corporation cannot reasonably estimate at this time the likelihood of an unfavorable outcome or the possible loss or range of losses in the event of an unfavorable outcome in any of the above-referenced disputes. Behrens et al. v. Arconic Inc. et al. On June 6, 2019, 247 plaintiffs comprised of survivors and estates of decedents of the Grenfell Tower fire filed a complaint against “Arconic Inc., Alcoa Inc., and Arconic Architectural Products, LLC” (collectively, for purposes of the description of such proceeding, the “ParentCo Defendants”), as well as Saint-Gobain Corporation, d/b/a Celotex and Whirlpool Corporation, in the Court of Common Pleas of Philadelphia County. The complaint alleges claims under Pennsylvania state law for products liability and wrongful death related to the fire. In particular, the plaintiffs allege that the ParentCo Defendants knowingly supplied a dangerous product (Reynobond PE) for installation on the Grenfell Tower despite knowing that Reynobond PE was unfit for use above a certain height. The ParentCo Defendants removed the case to the United States District Court for the Eastern District of Pennsylvania on June 19, 2019. On August 29, 2019, the ParentCo Defendants moved to dismiss the complaint on the bases, among other things, that: (i) the case should be heard in the United Kingdom, not the United States; (ii) there is no jurisdiction over necessary parties; and (iii) Pennsylvania product liability law does not apply to manufacture and sale of product overseas. On December 23, 2019, the Court issued an order denying the motion to dismiss the complaint on bases (ii) and (iii) suggesting a procedure for limited discovery followed by further briefing on those subjects. On September 16, 2020, the Court issued an order granting Defendants’ motion to dismiss on forum non conveniens grounds, subject to certain conditions, determining that the United Kingdom, and not the United States, is the appropriate place for plaintiffs to bring their case. Plaintiffs subsequently filed a motion for reconsideration, which the Court denied on November 23, 2020. Plaintiffs are appealing this judgment; ParentCo Defendants are cross-appealing one of the conditions. The briefing has now been completed and oral argument is scheduled for June 6, 2022. Given the preliminary nature of this matter and the uncertainty of litigation, Arconic Corporation cannot reasonably estimate at this time the likelihood of an unfavorable outcome or the possible loss or range of losses in the event of an unfavorable outcome. Howard v. Arconic Inc. et al. A purported class action complaint related to the Grenfell Tower fire was filed on August 11, 2017 in the United States District Court for the Western District of Pennsylvania against ParentCo and Klaus Kleinfeld. A related purported class action complaint was filed in the United States District Court for the Western District of Pennsylvania on September 15, 2017, under the caption Sullivan v. Arconic Inc. et al. , against ParentCo, three former ParentCo executives, several current and former ParentCo directors, and banks that acted as underwriters for ParentCo’s September 18, 2014 preferred stock offering (the “Preferred Offering”). The plaintiff in Sullivan had previously filed a purported class action against the same defendants on July 18, 2017 in the Southern District of New York and, on August 25, 2017, voluntarily dismissed that action without prejudice. On February 7, 2018, on motion from certain putative class members, the court consolidated Howard and Sullivan , closed Sullivan , and appointed lead plaintiffs in the consolidated case. On April 9, 2018, the lead plaintiffs in the consolidated purported class action filed a consolidated amended complaint. The consolidated amended complaint alleged that the registration statement for the Preferred Offering contained false and misleading statements and omitted to state material information, including by allegedly failing to disclose material uncertainties and trends resulting from sales of Reynobond PE for unsafe uses and by allegedly expressing a belief that appropriate risk management and compliance programs had been adopted while concealing the risks posed by Reynobond PE sales. The consolidated amended complaint also alleged that between November 4, 2013 and June 23, 2017 ParentCo and Kleinfeld made false and misleading statements and failed to disclose material information about ParentCo’s commitment to safety, business and financial prospects, and the risks of the Reynobond PE product, including in ParentCo’s Form 10-Ks for the fiscal years ended December 31, 2013, 2014, 2015, and 2016, its Form 10-Qs and quarterly financial press releases from the fourth quarter of 2013 through the first quarter of 2017, its 2013, 2014, 2015, and 2016 Annual Reports, its 2016 Annual Highlights Report, and on its official website. The consolidated amended complaint sought, among other things, unspecified compensatory damages and an award of attorney and expert fees and expenses. On June 8, 2018, all defendants moved to dismiss the consolidated amended complaint for failure to state a claim. On June 21, 2019, the Court granted the defendants’ motion to dismiss in full, dismissing the consolidated amended complaint in its entirety without prejudice. On July 23, 2019, the lead plaintiffs filed a second amended complaint. The second amended complaint alleges generally the same claims as the consolidated amended complaint with certain additional allegations, as well as claims that the risk factors set forth in the registration statement for the Preferred Offering were inadequate and that certain additional statements in the sources identified above were misleading. The second amended complaint seeks, among other things, unspecified compensatory damages and an award of attorney and expert fees and expenses. On September 11, 2019, all defendants moved to dismiss the second amended complaint. Plaintiffs’ opposition to that motion was filed on November 1, 2019 and all defendants filed a reply brief on November 26, 2019. On June 22, 2020, counsel for Arconic Corporation and the individual defendants filed a letter apprising the Court of a recent decision by the Third Circuit and discussing its relevance to the pending motion to dismiss. Pursuant to an Order by the Court directing the plaintiffs to respond to this letter, the plaintiffs filed a letter response on July 9, 2020. On June 23, 2021, the Court granted in part and denied in part the defendants’ motion to dismiss the second amended complaint. The Court dismissed with prejudice plaintiffs’ claim against ParentCo, certain officers and directors and the underwriters based on the registration statement for the Preferred Offering, with the exception of one statement and only as to purchases made before October 23, 2015. In addition, plaintiffs’ claim based on ParentCo’s statements in other SEC filings, in product brochures, and on websites was dismissed in its entirety as to Kleinfeld and dismissed in part and allowed in part as to ParentCo. The Court also dismissed the control-person liability claims in their entirety. On August 11, 2021, ParentCo filed a motion with the district court for certification of an interlocutory appeal and a stay pending appeal. The motion seeks to appeal the aspect of the court’s June 23, 2021 opinion concerning the complaint’s pleading of ParentCo’s alleged scienter. Plaintiffs filed an opposition to the motion on August 17, 2021, and ParentCo filed a reply brief on August 24, 2021. On August 12, 2021, defendants filed an answer to the second amended complaint. A status conference was held before the Court on January 11, 2022 during which the Court heard argument from both parties on the pending motion for certification of an interlocutory appeal. The motion remains pending before the district court. Given the preliminary nature of this matter and the uncertainty of litigation, Arconic Corporation cannot reasonably estimate at this time the likelihood of an unfavorable outcome or the possible loss or range of losses in the event of an unfavorable outcome. Raul v. Albaugh, et al. On June 22, 2018, a derivative complaint was filed nominally on behalf of ParentCo by a purported ParentCo stockholder against the then members of ParentCo’s Board of Directors and Klaus Kleinfeld and Ken Giacobbe, naming ParentCo as a nominal defendant, in the United States District Court for the District of Delaware. The complaint raises similar allegations as the consolidated amended complaint and second amended complaint in Howard , as well as allegations that the defendants improperly authorized the sale of Reynobond PE for unsafe uses, and asserts claims under Section 14(a) of the Securities Exchange Act of 1934, as amended, and Delaware state law. On July 13, 2018, the parties filed a stipulation agreeing to stay this case until the final resolution of the Howard case, the Grenfell Tower Public Inquiry in London, and the investigation by the Police and on July 23, 2018, the Court approved the stay. Given the preliminary nature of this matter and the uncertainty of litigation, Arconic Corporation cannot reasonably estimate at this time the likelihood of an unfavorable outcome or the possible loss or range of losses in the event of an unfavorable outcome. General. While Arconic believes that all the above referenced Reynobond PE cases are without merit and intends to challenge them vigorously, there can be no assurances regarding the ultimate resolution of these matters. Tax. Under the terms of the agreements that govern the 2016 Separation Transaction, Arconic may be entitled to future economic benefits resulting from Alcoa Corporation’s utilization of certain value-added tax credits that were generated, in part, by the Company’s former operations in Brazil in years prior to 2015.

Subsequent Events_

Subsequent Events​	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsManagement evaluated all activity of Arconic and concluded that no subsequent events have occurred that would require recognition in the Consolidated Financial Statements or disclosure in the Notes to the Consolidated Financial Statements

Fair Value Measures and Disclos

Fair Value Measures and Disclosures	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Financial Instruments Amounts designated below as kmt are thousand metric tons and MMBtu are million British thermal units. Fair Value— Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between (i) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (ii) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: • Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. • Level 2—Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3—Inputs that are both significant to the fair value measurement and unobservable. The respective carrying value and fair value of Arconic’s financial instruments were as follows: March 31, 2022 December 31, 2021 Carrying value Fair value Carrying value Fair value Cash and cash equivalents $ 210 $ 210 $ 335 $ 335 Hedging instruments and derivatives - assets 7 7 1 1 Short-term debt 100 100 — — Hedging instruments and derivatives - liabilities 116 116 23 23 Long-term debt 1,595 1,621 1,594 1,692 The following methods were used to estimate the fair value of financial instruments: Cash and cash equivalents and Short-term debt. The carrying amounts approximate fair value because of the short maturity of the instruments. The fair value amounts for Cash and cash equivalents were classified in Level 1 of the fair value hierarchy and Short-term debt was classified in Level 2 of the fair value hierarchy. Hedging instruments and derivatives. Arconic is exposed to certain risks relating to its ongoing business operations, including financial, market, political, and economic risks. Information regarding the Company’s exposure to the risks of changing commodity prices is described below. Arconic’s commodity and hedging activities are subject to the management, direction, and control of the Strategic Risk Management Committee (SRMC), which consists of at least three members, including the Company’s chief executive officer and chief financial officer. The remaining member(s) are other Arconic officers and/or employees as the chief executive officer may designate from time to time. Currently, the only other member of the SRMC is the Company’s treasurer. The SRMC meets on a periodic basis to review hedging positions and strategy and reports to the Audit and Finance Committee of Arconic’s Board of Directors on the scope of its activities. The Company’s hedging instruments are held for purposes other than trading. They are used primarily to mitigate uncertainty and volatility, and to cover underlying exposures. Specifically, these instruments hedge forward sale commitments for aluminum and forward purchase commitments for aluminum, natural gas, and certain alloying materials. Arconic is not involved in trading activities for energy, weather derivatives, or other nonexchange commodity trading activities. The fair value of the Company’s hedging instruments was based on quoted market prices (e.g., aluminum prices on the 10-year London Metal Exchange forward curve) and were classified in Level 1 of the fair value hierarchy. Most of these instruments are comprised of those that were designated as cash flow hedges while the remainder are marked-to-market as they do not qualify for hedge accounting. As of March 31, 2022 and December 31, 2021, Arconic’s hedging instruments classified as liabilities consisted of $121 (283 kmt) and $18 (251 kmt), respectively, for aluminum cash flow hedges, $(11) (8.7 MMBtu) and $2 (3.3 MMBtu), respectively, for energy cash flow hedges, and $3 (7 kmt) and $3 (19 kmt), respectively, for aluminum hedges that did not qualify for hedge accounting. Also, the Company’s hedging instruments classified as assets as of March 31, 2022 and December 31, 2021 consisted of $1 (23 kmt) and $1 (14 kmt), respectively, for aluminum hedges that did not qualify for hedge accounting. For hedging instruments designated as cash flow hedges, Arconic recognized in the 2022 first quarter an unrealized loss of $143 in Other comprehensive loss (see Note K ), comprised of an unrealized loss of $156 for aluminum and an unrealized gain of $13 for energy, and both a realized loss of $54 in Sales and a realized gain of $1 in Cost of goods sold for aluminum, and, in the 2021 first quarter, an unrealized loss of $35 in Other comprehensive loss (see Note K ), comprised of an unrealized loss of $36 for aluminum and an unrealized gain of $1 for alloying materials, and both a realized loss of $9 in Sales and a realized gain of $2 in Cost of goods sold for aluminum. The realized loss and gain in both periods were reclassified from Accumulated other comprehensive loss (see Note K ). For hedging instruments that do not qualify for hedge accounting, the Company recognized both an unrealized gain of $2 and a realized loss of $2 in Sales for aluminum in the 2022 first quarter. Unrealized and realized impacts were not material in the 2021 first quarter. The disclosures with respect to commodity price risk do not consider the underlying commitments or anticipated transactions. If the underlying items were included, the gains or losses on the hedging instruments may be offset. Actual results will be determined by several factors that are not under Arconic’s control and could vary significantly from those factors disclosed. The Company is exposed to credit loss in the event of nonperformance by counterparties on the above instruments, as well as credit or performance risk with respect to its hedged customers’ commitments. Arconic does not anticipate nonperformance by any of these parties. Contracts are with creditworthy counterparties and are further supported by cash or irrevocable letters of credit issued by carefully chosen banks. In addition, master netting arrangements are in place with counterparties to facilitate settlement of gains and losses on these contracts. Separately, Arconic has three natural gas supply contracts that are treated as derivatives for accounting purposes as they failed to qualify for the normal purchase normal sale exception due to net settlement provisions. These derivatives also do not qualify for hedge accounting. The Company does not have a regular practice of entering into contracts that are treated as derivatives for accounting purposes. As of March 31, 2022, Arconic’s derivatives classified as assets and liabilities consisted of $6 (1.5 MMBtu) and $3 (2.0 MMBtu), respectively. Additionally, in the 2022 first quarter, the Company recognized an unrealized gain of $3 in Cost of goods sold for these derivatives (see Note A ). Long-term debt. The fair value was based on quoted market prices for public debt and was classified in Level 2 of the fair value hierarchy.

Receivables, Loans, Notes Recei

Receivables, Loans, Notes Receivable, and Others	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Accounts and Nontrade Receivable	Receivables On January 5, 2022, the Company entered into a one-year arrangement with a financial institution to sell certain customer receivables outright without recourse on a continuous basis. All such sales are at Arconic's discretion. Under this arrangement, the Company serves in an administrative capacity, including collection of the receivables from the respective customers and remittance of these cash collections to the financial institution. Accordingly, upon the sale of customer receivables to the financial institution, Arconic removes the underlying trade receivables from the Consolidated Balance Sheet and includes the reduction as a positive amount in the Decrease (Increase) in receivables line item within Operating Activities on the Statement of Consolidated Cash Flows. At no time can the outstanding balance due to the financial institution exceed $225 (increased in February from original amount of $100). In the 2022 first quarter, the Company sold $221 in customer receivables and remitted $158 in cash collections to the financial institution. Of the total amount of customer receivables sold in the 2022 first quarter, $77 were included in Receivables from customers on the accompanying Consolidated Balance Sheet as of December 31, 2021.

Recently Adopted and Recently_2

Recently Adopted and Recently Issued Accounting Guidance (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Recent Accounting Guidance	Issued In March 2020, the FASB issued guidance that provides optional expedients and exceptions for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. These expedients and exceptions may be used when applying GAAP, if certain criteria are met, to contracts, hedging relationships, and other transactions that reference London Inter-Bank Offered Rate (LIBOR) or another reference rate expected to be discontinued because of such reform. The purpose of this guidance is to provide relief to entities from experiencing unintended accounting and/or financial reporting outcomes or consequences due to reference rate reform. This guidance became effective immediately on March 12, 2020 and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022, after which time the expedients and exceptions expire. In January 2021, the FASB issued clarifying guidance to specify that certain of the optional expedients and exceptions apply to derivatives that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. This additional guidance may be applied on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively in the manner previously described for the guidance issued on March 12, 2020. As of March 31, 2022, Arconic has not experienced any unintended outcomes or consequences of reference rate reform that would necessitate the adoption of this guidance. Additionally, the Company’s credit agreement, which previously provided a credit facility that was referenced to LIBOR in certain borrowing situations, was amended in February 2022 to replace LIBOR with the Secured Overnight Financing Rate (SOFR) (see Note N ). Accordingly, the Company does not need to consider application of this guidance related to its credit agreement. Management will continue to closely monitor all potential instances of reference rate reform to determine if adoption of this guidance becomes necessary in the future.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Revenue by Major End Market Served	The following table disaggregates revenue by major end market served. Differences between segment totals and consolidated Arconic are in Corporate. First quarter ended March 31, Rolled Building and Extrusions Total 2022 Ground Transportation $ 726 $ — $ 29 $ 755 Packaging 397 — — 397 Building and Construction 84 291 — 375 Aerospace 167 — 43 210 Industrial Products and Other 430 — 25 455 Total end-market revenue $ 1,804 $ 291 $ 97 $ 2,192 2021 Ground Transportation $ 637 $ — $ 25 $ 662 Packaging 219 — — 219 Building and Construction 51 236 — 287 Aerospace 109 — 29 138 Industrial Products and Other 348 — 21 369 Total end-market revenue $ 1,364 $ 236 $ 75 $ 1,675

Segment and Related Informati_2

Segment and Related Information​ (Tables)	3 Months Ended
	Mar. 31, 2022
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): First quarter ended March 31, Rolled Building and Extrusions Total 2022 Sales: Third-party sales $ 1,804 $ 291 $ 97 $ 2,192 Intersegment sales 12 — 1 13 Total sales $ 1,816 $ 291 $ 98 $ 2,205 Segment Adjusted EBITDA $ 176 $ 44 $ (5) $ 215 Provision for depreciation and amortization $ 48 $ 4 $ 4 $ 56 2021 Sales: Third-party sales $ 1,364 $ 236 $ 75 $ 1,675 Intersegment sales 7 — — 7 Total sales $ 1,371 $ 236 $ 75 $ 1,682 Segment Adjusted EBITDA $ 165 $ 28 $ (4) $ 189 Provision for depreciation and amortization $ 48 $ 4 $ 6 $ 58 The following table reconciles total Segment Adjusted EBITDA to consolidated net income attributable to Arconic Corporation: First quarter ended March 31, 2022 2021 Total Segment Adjusted EBITDA $ 215 $ 189 Unallocated amounts: Corporate expenses (1) (9) (9) Stock-based compensation expense (5) (2) Metal price lag (2) (36) 5 Unrealized gains on mark-to-market hedging instruments and derivatives ( P ) 2 — Provision for depreciation and amortization (60) (63) Restructuring and other charges ( E ) (5) (1) Other (3) (6) (6) Operating income 96 113 Interest expense (25) (23) Other expenses, net ( F ) (17) (22) Provision for income taxes ( H ) (12) (16) Net income attributable to noncontrolling interest — — Consolidated net income attributable to Arconic Corporation $ 42 $ 52 ________________ (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) 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.

Restructuring and Other Charg_2

Restructuring and Other Charges (Tables)	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve 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: First quarter ended March 31, 2022 2021 Rolled Products $ — $ 1 Building and Construction Systems — (1) Extrusions 1 1 Segment total 1 1 Corporate 4 — $ 5 $ 1
Schedule of Restructuring Reserve	Activity and reserve balances for restructuring charges were as follows: Layoff costs Other costs Total Reserve balances at December 31, 2020 $ 13 $ 1 $ 14 Cash payments (10) (5) (15) Restructuring charges 3 6 9 Other (1) (4) (1) (5) Reserve balances at December 31, 2021 2 1 3 Cash payments (1) (1) (2) Restructuring charges — 1 1 Other (1) — (1) (1) Reserve balances at March 31, 2022 (2) $ 1 $ — $ 1 _____________________ (1) Other includes reversals of previously recorded restructuring charges and the effects of foreign currency translation. (2) The remaining reserves are expected to be paid in cash during the remainder of 2022.

Other Expenses (Income), Net (T

Other Expenses (Income), Net (Tables)	3 Months Ended
	Mar. 31, 2022
Other Income and Expenses [Abstract]
Schedule of Other (Income) Expense, Net	First quarter ended March 31, 2022 2021 Non-service costs — Pension and OPEB ( G ) $ 14 $ 20 Foreign currency losses, net 6 2 Other, net (3) — $ 17 $ 22

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Cost Classified as Direct Plans	The components of net periodic benefit cost for defined benefit plans were as follows: First quarter ended March 31, 2022 2021 Pension benefits Service cost $ 5 $ 6 Interest cost 16 17 Expected return on plan assets (24) (33) Recognized net actuarial loss 19 32 Settlements 1 — Net periodic benefit cost (1) $ 17 $ 22 Other postretirement benefits Service cost $ 1 $ 1 Interest cost 3 3 Recognized net actuarial loss 2 2 Amortization of prior service benefit (2) (1) Net periodic benefit cost (1) $ 4 $ 5 __________________ (1) Service cost was included within Cost of goods sold, Settlements were included within Restructuring and other charges, and all other components were included in Other expenses, net on the accompanying Statement of Consolidated Operations.

Income Taxes_ (Tables)

Income Taxes​ (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provisions	First quarter ended March 31, 2022 2021 Pretax ordinary income at estimated annual effective tax rate $ 15 $ 19 Interim period treatment of operational losses in foreign jurisdictions for which no tax benefit is recognized* 1 — Discrete items (4) (3) Provision for income taxes $ 12 $ 16 __________________ * The interim period impact related to operational losses in foreign jurisdictions for which no tax benefit is recognized will reverse by the end of the calendar year.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The share information used to compute basic and diluted EPS attributable to Arconic common stockholders was as follows (shares in millions): First quarter ended March 31, 2022 2021 Weighted-average shares outstanding – basic 105.4 109.8 Effect of dilutive share equivalents: Stock units 3.0 3.3 Stock options 0.1 0.1 Weighted-average shares outstanding – diluted 108.5 113.2 Anti-dilutive share equivalents: Stock units — — Stock options*: In-the-money — — Out-of-the-money — — — —

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income​ (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	The following table details the activity of the three components that comprise Accumulated other comprehensive loss for Arconic (such activity for Noncontrolling interest was immaterial for all periods presented): First quarter ended March 31, 2022 2021 Pension and other postretirement benefits ( G ) Balance at beginning of period $ (1,121) $ (1,791) Other comprehensive income: Unrecognized net actuarial loss and prior service cost/benefit 55 (1) Tax expense (12) — Total Other comprehensive income (loss) before reclassifications, net of tax 43 (1) Amortization of net actuarial loss and prior service cost/benefit (1) 20 33 Tax expense (2) (5) (7) Total amount reclassified from Accumulated other comprehensive loss, net of tax (5) 15 26 Total Other comprehensive income 58 25 Balance at end of period $ (1,063) $ (1,766) Foreign currency translation Balance at beginning of period $ 25 $ 29 Other comprehensive loss (3) (7) (7) Balance at end of period $ 18 $ 22 Cash flow hedges ( P ) Balance at beginning of period $ (15) $ 1 Other comprehensive loss: Net change from periodic revaluations (143) (35) Tax benefit 33 8 Total Other comprehensive loss before reclassifications, net of tax (110) (27) Net amount reclassified to earnings (4) 53 7 Tax expense (2) (13) (2) Total amount reclassified from Accumulated other comprehensive (loss) income, net of tax (5) 40 5 Total Other comprehensive loss (70) (22) Balance at end of period $ (85) $ (21) Accumulated other comprehensive loss $ (1,130) $ (1,765) _____________________ (1) These amounts were included in the non-service component of net periodic benefit cost for pension and other postretirement benefits (see Note G ). (2) These amounts were reported in Provision for income taxes on the accompanying Statement of Consolidated Operations. (3) In all periods presented, there were no tax impacts related to rate changes and no amounts were reclassified to earnings. (4) These amounts relate to aluminum, a portion of which were reported in both Sales and Cost of goods sold on the accompanying Statement of Consolidated Operations (see Note P ). For both periods presented, amounts related to energy and alloying materials were not material. (5) A positive amount indicates a corresponding charge to earnings and a negative amount indicates a corresponding benefit to earnings. These amounts were reflected on the accompanying Statement of Consolidated Operations in the line items indicated in footnotes 1 through 4.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	March 31, 2022 December 31, 2021 Finished goods $ 449 $ 350 Work-in-process 1,175 1,105 Purchased raw materials 141 109 Operating supplies 68 66 $ 1,833 $ 1,630

Leases_ (Tables)

Leases​ (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of Operating Lease Maturity	Future minimum contractual operating lease obligations were as follows: March 31, 2022 2022 $ 31 2023 31 2024 24 2025 18 2026 13 Thereafter 30 Total lease payments $ 147 Less: imputed interest 23 Present value of lease liabilities $ 124

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Other Commitments	The following table presents selected financial information related to our operations in Russia: March 31, 2022 December 31, 2021 Cash and cash equivalents $ 26 $ 79 Receivables from customers 131 120 Inventories 130 102 Properties, plants and equipment, net 196 200 Accounts payable, trade 46 47 For the first quarter ended March 31, 2022 For the year ended December 31, 2021 Third-party sales* $ 233 $ 968 Segment Adjusted EBITDA 18 87 _____________________ * In all periods presented, Third-party sales includes aluminum products manufactured at Arconic’s plant in Russia and sold through the Company’s international selling company located in Hungary.

Fair Value Measures and Discl_2

Fair Value Measures and Disclosures (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The respective carrying value and fair value of Arconic’s financial instruments were as follows: March 31, 2022 December 31, 2021 Carrying value Fair value Carrying value Fair value Cash and cash equivalents $ 210 $ 210 $ 335 $ 335 Hedging instruments and derivatives - assets 7 7 1 1 Short-term debt 100 100 — — Hedging instruments and derivatives - liabilities 116 116 23 23 Long-term debt 1,595 1,621 1,594 1,692

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - External Sales Including Reconciling Items [Domain] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 2,192	$ 1,675
Ground Transportation
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	755	662
Building and Construction
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	397	219
Packaging
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	375	287
Aerospace
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	210	138
Industrial Products and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	455	369
Rolled Products
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,804	1,364
Rolled Products | Ground Transportation
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	726	637
Rolled Products | Building and Construction
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	397	219
Rolled Products | Packaging
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	84	51
Rolled Products | Aerospace
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	167	109
Rolled Products | Industrial Products and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	430	348
Building and Construction Systems
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	291	236
Building and Construction Systems | Ground Transportation
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Building and Construction Systems | Building and Construction
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Building and Construction Systems | Packaging
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	291	236
Building and Construction Systems | Aerospace
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Building and Construction Systems | Industrial Products and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Extrusions
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	97	75
Extrusions | Ground Transportation
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	29	25
Extrusions | Building and Construction
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Extrusions | Packaging
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Extrusions | Aerospace
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	43	29
Extrusions | Industrial Products and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 25	$ 21

Segment and Related Informati_3

Segment and Related Information​ - Operating Results (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	$ 215	$ 189
Provision for depreciation and amortization	60	63
Intersegment sales
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total sales	13	7
Intersegment sales | Rolled Products
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total sales	12	7
Intersegment sales | Building and Construction Systems
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total sales	0	0
Intersegment sales | Extrusions
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total sales	1	0
Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total sales	2,205	1,682
Segment Adjusted EBITDA	215	189
Provision for depreciation and amortization	56	58
Operating segments | Rolled Products
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total sales	1,816	1,371
Segment Adjusted EBITDA	176	165
Provision for depreciation and amortization	48	48
Operating segments | Building and Construction Systems
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total sales	291	236
Segment Adjusted EBITDA	44	28
Provision for depreciation and amortization	4	4
Operating segments | Extrusions
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total sales	98	75
Segment Adjusted EBITDA	5	4
Provision for depreciation and amortization	4	6
Third-party sales
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total sales	2,191	1,675
Third-party sales | External Sales Including Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total sales	2,192	1,675
Third-party sales | External Sales Including Reconciling Items | Rolled Products
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total sales	1,804	1,364
Third-party sales | External Sales Including Reconciling Items | Building and Construction Systems
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total sales	291	236
Third-party sales | External Sales Including Reconciling Items | Extrusions
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total sales	$ 97	$ 75

Segment and Related Informati_4

Segment and Related Information​ - Segment Operating Profit (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	$ 215	$ 189
Corporate expenses(1)	(9)	(9)
Stock-based compensation expense	(5)	(2)
Metal Price Lag	(36)	5
Unrealized Gain (Loss) on Derivatives	2	0
Provision for depreciation and amortization	(60)	(63)
Restructuring, Settlement And Impairment Provisions, Including Gain (Loss) On Disposition Of Assets And Business	(5)	(1)
Other	(6)	(6)
Operating income	96	113
Interest expense	(25)	(23)
Other expenses, net	(17)	(22)
Provision for income taxes	(12)	(16)
Net Income (Loss) Attributable to Noncontrolling Interest	0	0
Net Income (Loss) Attributable to Parent	42	52
Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	215	189
Provision for depreciation and amortization	(56)	(58)
Restructuring, Settlement And Impairment Provisions, Including Gain (Loss) On Disposition Of Assets And Business	(1)	(1)
Operating segments | Rolled Products
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	176	165
Provision for depreciation and amortization	(48)	(48)
Restructuring, Settlement And Impairment Provisions, Including Gain (Loss) On Disposition Of Assets And Business	0	(1)
Operating segments | Building and Construction Systems
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	44	28
Provision for depreciation and amortization	(4)	(4)
Restructuring, Settlement And Impairment Provisions, Including Gain (Loss) On Disposition Of Assets And Business	0	1
Operating segments | Extrusions
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Adjusted EBITDA	5	4
Provision for depreciation and amortization	(4)	(6)
Restructuring, Settlement And Impairment Provisions, Including Gain (Loss) On Disposition Of Assets And Business	$ (1)	$ 1

Restructuring and Other Charg_3

Restructuring and Other Charges - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (E)	$ 5	$ 1
Cash payments, restructuring	2		$ 15
Environmental remediation, payments	4
Fusina, Italy
Restructuring Cost and Reserve [Line Items]
Environmental remediation, payments	1
Other miscellaneous costs
Restructuring Cost and Reserve [Line Items]
Cash payments, restructuring	1		5
Layoff costs
Restructuring Cost and Reserve [Line Items]
Cash payments, restructuring	1		$ 10
2022 Restructuring Programs | Legal Matters, Other
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (E)	4
2022 Restructuring Programs | One-time Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (E)	1
2022 Restructuring Programs | Idling of Operations | Extrusions
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (E)	$ 1
2021 Restructuring Programs | Disposals | Aluminum Rolling Mill in Itapissuma, Brazil
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (E)		1
2020 Restructuring Programs | Reversal of Reserve [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (E)		(1)
2020 Restructuring Programs | Other miscellaneous costs
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (E)		$ 1

Restructuring and Other Charg_4

Restructuring and Other Charges - Restructuring and Other Charges by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (E)	$ 5	$ 1
Operating segments
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (E)	1	1
Operating segments | Rolled Products
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (E)	0	1
Operating segments | Building and Construction Systems
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (E)	0	(1)
Operating segments | Extrusions
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (E)	1	(1)
Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges (E)	$ 4	$ 0

Restructuring and Other Charg_5

Restructuring and Other Charges - Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Restructuring Reserve [Roll Forward]
Beginning balance	$ 3	$ 14	$ 14
Cash payments	(2)		(15)
Restructuring charges	1		9
Other	(1)		(5)
Ending balance	1		3
Restructuring, Settlement And Impairment Provisions, Including Gain (Loss) On Disposition Of Assets And Business	(5)	(1)
Operating segments
Restructuring Reserve [Roll Forward]
Restructuring, Settlement And Impairment Provisions, Including Gain (Loss) On Disposition Of Assets And Business	(1)	(1)
Operating segments | Rolled Products
Restructuring Reserve [Roll Forward]
Restructuring, Settlement And Impairment Provisions, Including Gain (Loss) On Disposition Of Assets And Business	0	(1)
Operating segments | Building and Construction Systems
Restructuring Reserve [Roll Forward]
Restructuring, Settlement And Impairment Provisions, Including Gain (Loss) On Disposition Of Assets And Business	0	1
Operating segments | Extrusions
Restructuring Reserve [Roll Forward]
Restructuring, Settlement And Impairment Provisions, Including Gain (Loss) On Disposition Of Assets And Business	(1)	1
Corporate, Non-Segment
Restructuring Reserve [Roll Forward]
Restructuring, Settlement And Impairment Provisions, Including Gain (Loss) On Disposition Of Assets And Business	(4)	0
Other costs
Restructuring Reserve [Roll Forward]
Beginning balance	1	1	1
Cash payments	(1)		(5)
Restructuring charges	1		6
Other	(1)		(1)
Ending balance	0		1
Other costs | 2020 Restructuring Programs
Restructuring Reserve [Roll Forward]
Restructuring, Settlement And Impairment Provisions, Including Gain (Loss) On Disposition Of Assets And Business		(1)
Layoff costs
Restructuring Reserve [Roll Forward]
Beginning balance	2	$ 13	13
Cash payments	(1)		(10)
Restructuring charges	0		3
Other	0		(4)
Ending balance	$ 1		$ 2

Other Expenses (Income), Net (D

Other Expenses (Income), Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Other Income and Expenses [Abstract]
Non-service costs — Pension and OPEB	$ 14	$ 20
Foreign currency losses, net	6	2
Other, net	(3)	0
Nonoperating Income (Expense)	$ 17	$ 22

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Pension benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 5	$ 6
Interest cost	16	17
Expected return on plan assets	(24)	(33)
Recognized net actuarial loss	19	32
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	1	0
Net periodic benefit cost	17	22
Other postretirement benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	1	1
Interest cost	3	3
Recognized net actuarial loss	2	2
Amortization of prior service benefit	(2)	(1)
Net periodic benefit cost	$ 4	$ 5

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits - Narrative (Details) - Pension benefits - UNITED STATES $ in Millions	1 Months Ended
	Jan. 31, 2022plan	Jan. 31, 2021USD ($)plan	Mar. 31, 2022USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Number Of Pension Plans | plan	2	2
Defined Benefit Plan, Plan Assets, Contributions by Employer		$ 200
Defined Benefit Plan, Funded Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Minimum Required Employer Contributions, Next Fiscal Year		183	$ 22
Defined Benefit Plan, Employer Contribution, Additional Contribution Above Minimum Requirement		$ 17

Income Taxes_ (Details)

Income Taxes​ (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)points	Mar. 31, 2021USD ($)points
Income Tax Disclosure [Abstract]
Effective income tax rate, before discrete items	27.80%	27.90%
Effective Income Tax Rate Reconciliation, Percentage Points | points	6.8	6.9
Effective income tax rate, including discrete items	22.20%	23.50%
Income Tax Expense (Benefit)
Pretax ordinary income at estimated annual effective tax rate	$ 15	$ 19
Interim period treatment of operational losses in foreign jurisdictions for which no tax benefit is recognized*	1	0
Discrete items	(4)	(3)
Provision for income taxes	$ 12	$ 16

Earnings Per Share (Details)

Earnings Per Share (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average shares outstanding – basic	105,400,000	109,800,000
Weighted-average shares outstanding – diluted	108,500,000	113,200,000
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount	$ 0	$ 0
Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	3,000,000	3,300,000
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount	$ 0	$ 0
Share-based Payment Arrangement, Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	100,000	100,000
In-the-money Stock Options | Share-based Payment Arrangement, Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount	$ 0	$ 0
Out-of-the-money Stock Options | Share-based Payment Arrangement, Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount	$ 0	$ 0
Exercise Price Range, Greater Than Average Market Price
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Share-based Payment Arrangement, Option, Exercise Price Range, Shares Outstanding	300,000	400,000
Share-based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price	$ 31.48	$ 31.41

Preferred and Common Stock (Det

Preferred and Common Stock (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended	15 Months Ended
	Jun. 30, 2021	Mar. 31, 2022	Mar. 31, 2022	May 07, 2021
Equity [Abstract]
Stock Repurchase Program, Authorized Amount				$ 300
Stock Repurchase Program, Period in Force	2 years
Treasury Stock, Shares, Acquired		505,982	5,418,487
Treasury Stock, Value, Acquired, Cost Method		$ (16)	$ (177)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income​ (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Attributable to Parent [Abstract]
Balance at beginning of period	$ 1,559	$ 1,447
Other comprehensive income:
Total Other comprehensive loss, net of tax	(19)	(4)
Balance at end of period	1,561	1,490
Pension and other postretirement benefits
AOCI Attributable to Parent [Abstract]
Balance at beginning of period	(1,121)	(1,791)
Other comprehensive income:
Other Comprehensive Income (Loss), before Reclassifications, before Tax	55	(1)
Other Comprehensive Income (Loss) before Reclassifications, Tax	(12)	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	43	(1)
Amortization of net actuarial loss and prior service cost	20	33
Tax expense	(5)	(7)
Total amount reclassified from Accumulated other comprehensive loss, net of tax	15	26
Total Other comprehensive loss, net of tax	58	25
Balance at end of period	(1,063)	(1,766)
Foreign currency translation
AOCI Attributable to Parent [Abstract]
Balance at beginning of period	25	29
Other comprehensive income:
Total Other comprehensive loss, net of tax	(7)	(7)
Balance at end of period	18	22
Cash flow hedges
AOCI Attributable to Parent [Abstract]
Balance at beginning of period	(15)	1
Other comprehensive income:
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(143)	(35)
Other Comprehensive Income (Loss) before Reclassifications, Tax	33	8
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(110)	(27)
Amortization of net actuarial loss and prior service cost	53	7
Tax expense	(13)	(2)
Total amount reclassified from Accumulated other comprehensive loss, net of tax	40	5
Total Other comprehensive loss, net of tax	(70)	(22)
Balance at end of period	(85)	(21)
Accumulated other comprehensive loss
AOCI Attributable to Parent [Abstract]
Balance at beginning of period	(1,111)	(1,761)
Other comprehensive income:
Total Other comprehensive loss, net of tax	(19)	(4)
Balance at end of period	$ (1,130)	$ (1,765)

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 449	$ 350
Work-in-process	1,175	1,105
Purchased raw materials	141	109
Operating supplies	68	66
Inventories	$ 1,833	$ 1,630

Leases_ (Details)

Leases​ (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Lease cost	$ 13	$ 16
Right-of-use asset obtained in exchange for operating lease liability	11	$ 5
Operating Lease Obligation
2022	31
2023	31
2024	24
2025	18
2026	13
Thereafter	30
Total lease payments	147
Less: imputed interest	23
Present value of lease liabilities	$ 124
Weighted-average remaining lease term	6 years 1 month 6 days
Weighted-average discount rate	5.80%

Debt (Details)

Debt (Details) - USD ($) $ in Millions	Feb. 16, 2022	Mar. 03, 2021	May 13, 2020	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Proceeds from Secured Lines of Credit				$ 35
Proceeds from debt issuance				0	$ 319
Senior Secured Loans
Debt Instrument [Line Items]
Debt Instrument, Unamortized Premium		$ 19
Unamortized Debt Issuance Expense		5
ABL Credit Agreement | Senior Secured Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term			5 years
Revolving credit facility, current borrowing capacity	$ 1,200					$ 800
Revolving credit facility, maximum borrowing capacity	350
Debt Issuance Costs, Line of Credit Arrangements, Net	$ 1
Proceeds from Secured Lines of Credit				$ 100
Applicable margin				2.50%
Debt Instrument, Unused Borrowing Capacity, Amount				$ 1,065
ABL Credit Agreement | Senior Secured Credit Facility | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.10%
Debt Instrument, Interest Rate Terms	one month
ABL Credit Agreement | Senior Secured Credit Facility | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Median
Debt Instrument [Line Items]
Basis spread on variable rate	0.15%
Debt Instrument, Interest Rate Terms	three months
ABL Credit Agreement | Senior Secured Credit Facility | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	0.25%
Debt Instrument, Interest Rate Terms	six months
Second-Lien Notes due 2028, 6.125% | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, face amount		$ 300
Fixed interest rate		6.125%
Debt Instrument, Interest Rate, Increase (Decrease)		106.25%
Second-Lien Notes due 2028, 6.125% | Senior Secured Loans
Debt Instrument [Line Items]
Proceeds from debt issuance		$ 315

Contingencies and Commitments_

Contingencies and Commitments​ (Details) $ in Millions	Dec. 23, 2020claimantdefendant	Jun. 26, 2020claimant	Jun. 12, 2020firefighterpolice_officerclaimant	Jun. 11, 2020firefighter	Mar. 17, 2020subsidiary	Jun. 06, 2019plaintiff	Sep. 15, 2017executive	Mar. 31, 2022USD ($)claimantfirefighterpolice_officer	Sep. 30, 2021USD ($)	Mar. 31, 2021USD ($)claimant	Dec. 31, 2021USD ($)
Site Contingency [Line Items]
Environmental remediation								$ 61			$ 64
Environmental remediation, current								16			15
Environmental remediation, payments								4
Environmental remediation, additions								(5)
Cash and cash equivalents								210			335
Accounts Receivable, after Allowance for Credit Loss, Current								1,038			922
Inventories								1,833			1,630
Property, Plant and Equipment, Net								2,634			2,651
Accounts Payable, Trade, Current								1,781			1,718
Segment Adjusted EBITDA								215		$ 189
Revolving Credit Facility | ABL Credit Agreement | Senior Secured Credit Facility
Site Contingency [Line Items]
Debt Instrument, Unused Borrowing Capacity, Amount								1,065
RUSSIAN FEDERATION
Site Contingency [Line Items]
Cash and cash equivalents								26			79
Accounts Receivable, after Allowance for Credit Loss, Current								131			120
Inventories								130			102
Property, Plant and Equipment, Net								196			200
Accounts Payable, Trade, Current								46			47
Total sales								233			968
Segment Adjusted EBITDA								$ 18			$ 87
Percentage Of Liquidity								2.00%
Percentage Of Third Party Sales								13.00%			16.00%
Percentage of Segment Adjusted EBITDA								10.00%			13.00%
Federal Antimonopoly Services Of The Russian Federation Litigation | Unfavorable Regulatory Action
Site Contingency [Line Items]
Loss Contingency, Number Of Subsidiaries | subsidiary					2
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Birnberg Peirce Ltd | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant	118		4					113
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Howe & Co Solicitors | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant			2
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Russell-Cooke LLP | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant	34	3						33
Grenfell Tower Fire, Survivors And Estates Of Decedents | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Loss Contingency, Number of Defendants | defendant	23
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Deighton Pierce Glynn | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant	7
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By SMQ Legal Services | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant	5							6
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Scott Moncrieff | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant	4							3
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Saunders Law | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant	31							27
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Imran Khan And Partners | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant	40							47
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Howe And Co | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant	61							58
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Hodge Jones And Allen Solicitor | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant	114
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Hickman And Rose | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant	19							23
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Duncan Lewis Solicitors | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant	5							10
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Bindmans LLP | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant	341
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Bhatt Murphy Ltd | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant	82							76
Grenfell Tower Fire, Survivors And Estates Of Decedents, Represented By Slater & Gordon | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | claimant								27		24
Grenfell Tower Fire, Emergency Responders, Represented By Thompsons Solicitors | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | firefighter				80				98
Loss Contingency, Number Of Additional Plaintiffs | firefighter				7				10
Grenfell Tower Fire, Emergency Responders, Represented By Penningtons Manches Cooper LLP | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | police_officer			27					36
Grenfell Tower Fire, Emergency Responders, Represented By Pattinson And Brewer | Damage from Fire, Explosion or Other Hazard
Site Contingency [Line Items]
Number of plaintiffs | firefighter			2
Loss, Contingency, Number Of Plaintiffs Withdrawn | firefighter			1
Behrens v. Arconic
Site Contingency [Line Items]
Number of plaintiffs | plaintiff						247
Sullivan v. Arconic
Site Contingency [Line Items]
Number of former executives | executive							3
Fusina, Italy
Site Contingency [Line Items]
Accrual for Environmental Loss Contingencies, Period Increase (Decrease)								$ 1
Environmental remediation, payments								1
Massena West, NY
Site Contingency [Line Items]
Environmental remediation								28			$ 30
Accrual for Environmental Loss Contingencies, Revision in Estimates									$ 11
Massena West, NY | Construction in Progress
Site Contingency [Line Items]
Environmental remediation								3
Massena West, NY | Maintenance
Site Contingency [Line Items]
Environmental remediation								$ 25

Fair Value Measures and Discl_3

Fair Value Measures and Disclosures (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)MMBTUkt	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)MMBTUkt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost of goods sold (exclusive of expenses below)	$ 1,956	$ 1,431
Unrealized Gain (Loss) on Derivatives	$ 2	0
Fair Value Disclosures	Financial Instruments Amounts designated below as kmt are thousand metric tons and MMBtu are million British thermal units. Fair Value— Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between (i) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (ii) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: • Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. • Level 2—Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3—Inputs that are both significant to the fair value measurement and unobservable. The respective carrying value and fair value of Arconic’s financial instruments were as follows: March 31, 2022 December 31, 2021 Carrying value Fair value Carrying value Fair value Cash and cash equivalents $ 210 $ 210 $ 335 $ 335 Hedging instruments and derivatives - assets 7 7 1 1 Short-term debt 100 100 — — Hedging instruments and derivatives - liabilities 116 116 23 23 Long-term debt 1,595 1,621 1,594 1,692 The following methods were used to estimate the fair value of financial instruments: Cash and cash equivalents and Short-term debt. The carrying amounts approximate fair value because of the short maturity of the instruments. The fair value amounts for Cash and cash equivalents were classified in Level 1 of the fair value hierarchy and Short-term debt was classified in Level 2 of the fair value hierarchy. Hedging instruments and derivatives. Arconic is exposed to certain risks relating to its ongoing business operations, including financial, market, political, and economic risks. Information regarding the Company’s exposure to the risks of changing commodity prices is described below. Arconic’s commodity and hedging activities are subject to the management, direction, and control of the Strategic Risk Management Committee (SRMC), which consists of at least three members, including the Company’s chief executive officer and chief financial officer. The remaining member(s) are other Arconic officers and/or employees as the chief executive officer may designate from time to time. Currently, the only other member of the SRMC is the Company’s treasurer. The SRMC meets on a periodic basis to review hedging positions and strategy and reports to the Audit and Finance Committee of Arconic’s Board of Directors on the scope of its activities. The Company’s hedging instruments are held for purposes other than trading. They are used primarily to mitigate uncertainty and volatility, and to cover underlying exposures. Specifically, these instruments hedge forward sale commitments for aluminum and forward purchase commitments for aluminum, natural gas, and certain alloying materials. Arconic is not involved in trading activities for energy, weather derivatives, or other nonexchange commodity trading activities. The fair value of the Company’s hedging instruments was based on quoted market prices (e.g., aluminum prices on the 10-year London Metal Exchange forward curve) and were classified in Level 1 of the fair value hierarchy. Most of these instruments are comprised of those that were designated as cash flow hedges while the remainder are marked-to-market as they do not qualify for hedge accounting. As of March 31, 2022 and December 31, 2021, Arconic’s hedging instruments classified as liabilities consisted of $121 (283 kmt) and $18 (251 kmt), respectively, for aluminum cash flow hedges, $(11) (8.7 MMBtu) and $2 (3.3 MMBtu), respectively, for energy cash flow hedges, and $3 (7 kmt) and $3 (19 kmt), respectively, for aluminum hedges that did not qualify for hedge accounting. Also, the Company’s hedging instruments classified as assets as of March 31, 2022 and December 31, 2021 consisted of $1 (23 kmt) and $1 (14 kmt), respectively, for aluminum hedges that did not qualify for hedge accounting. For hedging instruments designated as cash flow hedges, Arconic recognized in the 2022 first quarter an unrealized loss of $143 in Other comprehensive loss (see Note K ), comprised of an unrealized loss of $156 for aluminum and an unrealized gain of $13 for energy, and both a realized loss of $54 in Sales and a realized gain of $1 in Cost of goods sold for aluminum, and, in the 2021 first quarter, an unrealized loss of $35 in Other comprehensive loss (see Note K ), comprised of an unrealized loss of $36 for aluminum and an unrealized gain of $1 for alloying materials, and both a realized loss of $9 in Sales and a realized gain of $2 in Cost of goods sold for aluminum. The realized loss and gain in both periods were reclassified from Accumulated other comprehensive loss (see Note K ). For hedging instruments that do not qualify for hedge accounting, the Company recognized both an unrealized gain of $2 and a realized loss of $2 in Sales for aluminum in the 2022 first quarter. Unrealized and realized impacts were not material in the 2021 first quarter. The disclosures with respect to commodity price risk do not consider the underlying commitments or anticipated transactions. If the underlying items were included, the gains or losses on the hedging instruments may be offset. Actual results will be determined by several factors that are not under Arconic’s control and could vary significantly from those factors disclosed. The Company is exposed to credit loss in the event of nonperformance by counterparties on the above instruments, as well as credit or performance risk with respect to its hedged customers’ commitments. Arconic does not anticipate nonperformance by any of these parties. Contracts are with creditworthy counterparties and are further supported by cash or irrevocable letters of credit issued by carefully chosen banks. In addition, master netting arrangements are in place with counterparties to facilitate settlement of gains and losses on these contracts. Separately, Arconic has three natural gas supply contracts that are treated as derivatives for accounting purposes as they failed to qualify for the normal purchase normal sale exception due to net settlement provisions. These derivatives also do not qualify for hedge accounting. The Company does not have a regular practice of entering into contracts that are treated as derivatives for accounting purposes. As of March 31, 2022, Arconic’s derivatives classified as assets and liabilities consisted of $6 (1.5 MMBtu) and $3 (2.0 MMBtu), respectively. Additionally, in the 2022 first quarter, the Company recognized an unrealized gain of $3 in Cost of goods sold for these derivatives (see Note A ). Long-term debt. The fair value was based on quoted market prices for public debt and was classified in Level 2 of the fair value hierarchy.
Designated as Hedging Instrument | Commodity Contract | Cash Flow Hedging
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ (156)	(36)
Derivative, Nonmonetary Notional Amount, Mass | kt	283		251
Designated as Hedging Instrument | Commodity Contract | Cash Flow Hedging | Other Assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	1.5
Designated as Hedging Instrument | Commodity Contract | Cash Flow Hedging | Other Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	2
Designated as Hedging Instrument | Energy Related Derivative | Cash Flow Hedging
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ 13
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	8.7		3.3
Designated as Hedging Instrument | Other Contract | Cash Flow Hedging
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax		(1)
Not Designated as Hedging Instrument | Commodity Contract
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | kt	7		19
Not Designated as Hedging Instrument | Commodity Contract | Other Assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | kt	23,000,000		14,000,000
Cash flow hedges
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ (143)	(35)
Amortization of net actuarial loss and prior service cost	53	7
Cash flow hedges | Designated as Hedging Instrument | Commodity Contract | Cash Flow Hedging | Sales
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amortization of net actuarial loss and prior service cost	54	9
Cash flow hedges | Designated as Hedging Instrument | Commodity Contract | Cash Flow Hedging | Cost of Sales
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amortization of net actuarial loss and prior service cost	1	$ 2
Reported Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	210		$ 335
Derivative Asset	7		1
Other Short-term Borrowings	100		0
Derivative Liability	116		23
Debt, fair value	1,595		1,594
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	210		335
Derivative Asset	7		1
Other Short-term Borrowings	100		0
Derivative Liability	116		23
Debt, fair value	1,621		1,692
Estimate of Fair Value Measurement | Designated as Hedging Instrument | Commodity Contract
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	6
Derivative Liability	3
Estimate of Fair Value Measurement | Designated as Hedging Instrument | Commodity Contract | Cost of Sales
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unrealized Gain (Loss) on Derivatives	3
Estimate of Fair Value Measurement | Designated as Hedging Instrument | Commodity Contract | Cash Flow Hedging
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Liability	121		18
Estimate of Fair Value Measurement | Designated as Hedging Instrument | Energy Related Derivative | Cash Flow Hedging
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Liability	(11)		2
Estimate of Fair Value Measurement | Not Designated as Hedging Instrument | Commodity Contract
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	1		1
Derivative Liability	3		$ 3
Unrealized Gain (Loss) on Derivatives	$ 2

Receivables, Loans, Notes Rec_2

Receivables, Loans, Notes Receivable, and Others (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2022	Mar. 31, 2022	Jan. 05, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current		$ 1,038		$ 922
Receivables Purchase Agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sale of Customer Receivables	$ 221
Cash Remitted from Sale of Customer Receivables		158
Accounts Receivable, after Allowance for Credit Loss, Current			$ 77
Receivables Purchase Agreement | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables Purchase Agreement		$ 225	$ 100