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Quarterly Data
 12 Months Ended
Dec. 31, 2018
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
2018
 
 
 
 
 
Sales
$
3,445

$
3,573

$
3,524

$
3,472

$
14,014

Net income
$
143

$
120

$
161

$
218

$
642

Earnings per share attributable to Arconic common shareholders(1):
 
 
 
 
 
Basic
 
 
 
 
 
Net income per share—basic
$
0.30

$
0.25

$
0.33

$
0.45

$
1.33

Diluted
 
 
 
 
 
Net income per share—diluted
$
0.29

$
0.24

$
0.32

$
0.44

$
1.30

2017
 
 
 
 
 
Sales
$
3,192

$
3,261

$
3,236

$
3,271

$
12,960

Net income (loss)
$
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—basic
$
0.65

$
0.43

$
0.22

$
(1.51
)
$
(0.28
)
(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 2018, Arconic recorded a gain of $119 ($154 pre-tax) on the sale of the Texarkana rolling mill, offset by pension plan settlement charges of $72 ($92 pre-tax) associated with significant lump sum payments made to participants and a loss of $39 ($43 pre-tax) on the sale of the Eger, Hungary forgings business. Additionally, Arconic recorded discrete tax items primarily comprised of a benefit related to certain prior year foreign investment losses no longer recapturable. 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 $16 ($25 pre-tax).