Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Summary of Changes in Accumulated Other Comprehensive (Loss) by Component

The following table details the activity of the four components that comprise Accumulated other comprehensive loss:

	Second quarter ended				Six months ended
	June 30,				June 30,
	2020		2019		2020		2019
Pension and other postretirement benefits (G)
Balance at beginning of period	$	(2,695)	$	(2,304)	$	(2,732)	$	(2,344)
Other comprehensive income:
Unrecognized net actuarial loss and prior service cost/benefit	(60)		(6)		(59)		66
Tax expense	8		1		8		(15)
Total Other comprehensive income (loss) before reclassifications, net of tax	(52)		(5)		(51)		51
Amortization of net actuarial loss and prior service cost(1)	74		36		117		15
Tax (expense) benefit (2)	(13)		(8)		(20)		(3)
Total amount reclassified from Accumulated other comprehensive loss, net of tax(3)	61		28		97		12
Total Other comprehensive income	9		23		46		63
Transfer to Arconic Corporation	$	1,820	$	—	$	1,820	$	—
Balance at end of period	$	(866)	$	(2,281)	$	(866)	$	(2,281)
Foreign currency translation
Balance at beginning of period	$	(661)	$	(557)	$	(596)	$	(583)
Foreign currency translation	(8)		(30)		(87)		(4)
Net amount reclassified from Accumulated other comprehensive loss(4)	—		—		14		—
Other comprehensive (loss) income	(8)		(30)		(73)		(4)
Transfer to Arconic Corporation	(428)		—		(428)		—
Balance at end of period	$	(1,097)	$	(587)	$	(1,097)	$	(587)
Available-for-sale securities
Balance at beginning of period	$	1	$	—	$	—	$	(3)
Other comprehensive income (loss)(5)	(1)		—		—		3
Balance at end of period	$	—	$	—	$	—	$	—
Cash flow hedges
Balance at beginning of period	$	(14)	$	9	$	(1)	$	4
Adoption of accounting standard	—		—		—		(2)
Other comprehensive (loss) income:
Net change from periodic revaluations	3		(13)		(8)		(5)
Tax expense	1		3		—		2
Total Other comprehensive loss (income) before reclassifications, net of tax	4		(10)		(8)		(3)
Net amount reclassified to earnings	5		(1)		4		(1)
Tax expense(2)	—		1		—		1
Total amount reclassified from Accumulated other comprehensive loss, net of tax(3)	5		—		4		—
Total Other comprehensive (loss) income	9		(10)		(4)		(3)
Balance at end of period	$	(5)	$	(1)	$	(5)	$	(1)
Accumulated other comprehensive loss	$	(1,968)	$	(2,869)	$	(1,968)	$	(2,869)

⁽¹⁾These amounts were recorded in Other expense (income), net (see Note F).

⁽²⁾These amounts were included in Provision (benefit) for income taxes on the Statement of Consolidated Operations.

⁽³⁾A positive amount indicates a charge to earnings and a negative amount indicates a benefit to earnings.

⁽⁴⁾Foreign currency translation charges were included in Restructuring and other charges on the Statement of Consolidated Operations due to the sale of foreign entities.

⁽⁵⁾Realized gains and losses were included in Other expense (income), net on the Statement of Consolidated Operations.