Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Schedule of Operating Results of Arconic's Reportable Segments

The operating results of the Company’s reportable segments were as follows. Differences between total segment and consolidated totals are in Corporate.

	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Second quarter ended June 30, 2021
Sales:
Third-party sales	$	544	$	262	$	160	$	229	$	1,195
Inter-segment sales	1		—		2		—		3
Total sales	$	545	$	262	$	162	$	229	$	1,198
Profit and loss:
Segment operating profit	$	100	$	50	$	11	$	61	$	222
Restructuring and other charges	5		3		—		—		8
Provision for depreciation and amortization	30		13		13		9		65
Capital expenditures	16		9		5		13		43
Second quarter ended June 30, 2020
Sales:
Third-party sales	$	585	$	326	$	229	$	113	$	1,253
Inter-segment sales	1		—		2		—		3
Total sales	$	586	$	326	$	231	$	113	$	1,256
Profit and loss:
Segment operating profit	$	105	$	70	$	19	$	6	$	200
Restructuring and other charges (credits)	22		24		(5)		1		42
Provision for depreciation and amortization	31		12		14		9		66
Capital expenditures	14		7		5		4		30
	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Six months ended June 30, 2021
Sales:
Third-party sales	$	1,078	$	534	$	336	$	456	$	2,404
Inter-segment sales	2		—		3		—		5
Total sales	$	1,080	$	534	$	339	$	456	$	2,409
Profit and loss:
Segment operating profit	$	201	$	95	$	21	$	131	$	448
Restructuring and other charges	10		5		1		—		16
Provision for depreciation and amortization	61		25		25		19		130
Capital expenditures	27		14		10		22		73
Six months ended June 30, 2020
Sales:
Third-party sales	$	1,366	$	711	$	504	$	304	$	2,885
Inter-segment sales	3		—		5		—		8
Total sales	$	1,369	$	711	$	509	$	304	$	2,893
Profit and loss:
Segment operating profit	$	270	$	166	$	47	$	56	$	539
Restructuring and other charges	35		26		12		3		76
Provision for depreciation and amortization	61		24		27		19		131
Capital expenditures	33		15		8		11		67

Schedule of Segment Reporting Information to Consolidated Income Before income Taxes

The following table reconciles Total segment operating profit to Income (loss) from continuing operations before income taxes:

	Second quarter ended				Six months ended
	June 30,				June 30,
	2021		2020		2021		2020
Total segment operating profit	$	222	$	200	$	448	$	539
Unallocated amounts:
Restructuring and other charges	(5)		(105)		(14)		(144)
Corporate expense	(10)		(21)		(38)		(63)
Consolidated operating income	$	207	$	74	$	396	$	332
Interest expense	(89)		(144)		(161)		(228)
Other (expense) income, net	(8)		(16)		(12)		8
Income (loss) from continuing operations before income taxes	$	110	$	(86)	$	223	$	112

Reconciliation of Capital Expenditures from Segments to Consolidated

The following table reconciles Total segment capital expenditures, which are presented on an accrual basis, with Capital expenditures as presented on the Statement of Consolidated Cash Flows. Differences between segment and consolidated totals are in Corporate and discontinued operations, including the impact of changes in accrued capital expenditures during the period.

	Second quarter ended				Six months ended
	June 30,				June 30,
	2021		2020		2021		2020
Total segment capital expenditures	$	43	$	30	$	73	$	67
Corporate and discontinued operations	(7)		2		18		117
Capital expenditures	$	36	$	32	$	91	$	184

Disaggregation of Revenue by Major End Market Served

The following table disaggregates segment revenue by major end market served. Differences between total segment and consolidated totals are in Corporate.

	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Second quarter ended June 30, 2021
Aerospace - Commercial	$	260	$	129	$	79	$	—	$	468
Aerospace - Defense	121		41		64		—		226
Commercial Transportation	—		49		—		229		278
Industrial and Other	163		43		17		—		223
Total end-market revenue	$	544	$	262	$	160	$	229	$	1,195
Second quarter ended June 30, 2020
Aerospace - Commercial	$	312	$	224	$	144	$	—	$	680
Aerospace - Defense	125		39		64		—		228
Commercial Transportation	—		34		—		113		147
Industrial and Other	148		29		21		—		198
Total end-market revenue	$	585	$	326	$	229	$	113	$	1,253
Six months ended June 30, 2021
Aerospace - Commercial	$	487	$	277	$	159	$	—	$	923
Aerospace - Defense	272		83		141		—		496
Commercial Transportation	—		95		—		456		551
Industrial and Other	319		79		36		—		434
Total end-market revenue	$	1,078	$	534	$	336	$	456	$	2,404
Six months ended June 30, 2020
Aerospace - Commercial	$	819	$	481	$	328	$	—	$	1,628
Aerospace - Defense	252		83		134		—		469
Commercial Transportation	—		80		—		304		384
Industrial and Other	295		67		42		—		404
Total end-market revenue	$	1,366	$	711	$	504	$	304	$	2,885