XML 64 R31.htm IDEA: XBRL DOCUMENT v3.8.0.1
Quarterly Data
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Data
Supplemental Financial Information (unaudited)
Quarterly Data
(in millions, except per-share amounts)
 
 
First
Second
Third
Fourth(2)
Year
2017
 
 
 
 
 
Sales
$
3,192

$
3,261

$
3,236

$
3,271

$
12,960

Net income (loss) attributable to Arconic
$
322

$
212

$
119

$
(727
)
$
(74
)
Earnings (loss) per share attributable to Arconic common shareholders(1):
 
 
 
 
 
Basic
 
 
 
 
 
Net income (loss) per share—basic
$
0.69

$
0.44

$
0.23

$
(1.51
)
$
(0.28
)
Diluted
 
 
 
 
 
Net income (loss) per share—diluted
$
0.65

$
0.43

$
0.22

$
(1.51
)
$
(0.28
)
2016
 
 
 
 
 
Sales
$
3,055

$
3,234

$
3,138

$
2,967

$
12,394

Net income (loss) attributable to Arconic
$
16

$
135

$
166

$
(1,258
)
$
(941
)
Earnings (loss) per share attributable to Arconic common shareholders(1):
 
 
 
 
 
Basic
 
 
 
 
 
Continuing operations
$
0.21

$
0.08

$
0.11

$
(2.98
)
$
(2.58
)
Discontinued operations
(0.21
)
0.19

0.23

0.07

0.27

Net income (loss) per share—basic
$
0.00

$
0.27

$
0.34

$
(2.91
)
$
(2.31
)
Diluted
 
 
 
 
 
Continuing operations
$
0.21

$
0.08

$
0.11

$
(2.98
)
$
(2.58
)
Discontinued operations
(0.21
)
0.19

0.22

0.07

0.27

Net income (loss) per share—basic
$
0.00

$
0.27

$
0.33

$
(2.91
)
$
(2.31
)
(1) 
Per share amounts are calculated independently for each period presented; therefore, the sum of the quarterly per share amounts may not equal the per share amounts for the year.
(2) 
In the fourth quarter of 2017, Arconic recorded an impairment of goodwill related to the forgings and extrusions business of $719 ($719 pre-tax); a provisional charge of $272 associated with the revaluation of U.S. net deferred tax assets due to a decrease in the U.S. corporate tax rate from 35% to 21%, as well as a one-time transition tax on the non-previously taxed earnings and profits of certain U.S.-owned foreign corporations as of December 31, 2017; a favorable adjustment to the Firth Rixson earn-out liability of $81 ($81 pre-tax); and a favorable adjustment to a separation-related guarantee liability of $18 ($25 pre-tax). In the fourth quarter of 2016, as a result of the Separation Transaction, Arconic recorded a charge of $1,267 for valuation allowances on certain deferred tax assets.