Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2021

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


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2021		2020		2021		2020
Pension and other postretirement benefits (G)
Balance at beginning of period	$	(903)	$	(866)	$	(980)	$	(2,732)
Other comprehensive income:
Unrecognized net actuarial gain (loss) and prior service cost/benefit	1		(7)		68		(66)
Tax benefit (expense)	—		3		(15)		11
Total Other comprehensive income (loss) before reclassifications, net of tax	1		(4)		53		(55)
Amortization of net actuarial loss and prior service cost(1)	15		16		46		133
Tax expense(2)	(3)		(4)		(9)		(24)
Total amount reclassified from Accumulated other comprehensive loss, net of tax(3)	12		12		37		109
Total Other comprehensive income	13		8		90		54
Transfer to Arconic Corporation	—		(22)		—		1,798
Balance at end of period	$	(890)	$	(880)	$	(890)	$	(880)
Foreign currency translation
Balance at beginning of period	$	(992)	$	(1,097)	$	(966)	$	(596)
Foreign currency translation	(36)		48		(62)		(39)
Net amount reclassified from Accumulated other comprehensive loss(4)	—		—		—		14
Other comprehensive (loss) income	(36)		48		(62)		(25)
Transfer to Arconic Corporation	—		—		—		(428)
Balance at end of period	$	(1,028)	$	(1,049)	$	(1,028)	$	(1,049)




Cash flow hedges
Balance at beginning of period	$	11	$	(5)	$	3	$	(1)

Other comprehensive income (loss):
Net change from periodic revaluations	1		2		20		(6)
Tax benefit (expense)	—		2		(4)		2
Total Other comprehensive income (loss) before reclassifications, net of tax	1		4		16		(4)
Net amount reclassified to earnings	(7)		2		(15)		6
Tax benefit (expense)(2)	2		(1)		3		(1)
Total amount reclassified from Accumulated other comprehensive (loss) income, net of tax(3)	(5)		1		(12)		5
Total Other comprehensive (loss) income	(4)		5		4		1
Balance at end of period	$	7	$	—	$	7	$	—

Accumulated other comprehensive loss	$	(1,911)	$	(1,929)	$	(1,911)	$	(1,929)

(1)These amounts were recorded in Other expense, net on the Statement of Consolidation Operations (see Note F).

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

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