Segment Information (Tables)

9 Months Ended

Sep. 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 the total segment and consolidated totals are in Corporate.

	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Third quarter ended September 30, 2021
Sales:
Third-party sales	$	599	$	254	$	199	$	231	$	1,283
Inter-segment sales	1		—		1		—		2
Total sales	$	600	$	254	$	200	$	231	$	1,285
Profit and loss:
Segment operating profit	$	120	$	47	$	14	$	62	$	243
Restructuring and other charges	5		3		—		—		8
Provision for depreciation and amortization	31		12		12		10		65
Capital expenditures	21		8		3		15		47
Third quarter ended September 30, 2020
Sales:
Third-party sales	$	485	$	271	$	206	$	172	$	1,134
Inter-segment sales	1		—		1		—		2
Total sales	$	486	$	271	$	207	$	172	$	1,136
Profit and loss:
Segment operating profit	$	39	$	33	$	10	$	35	$	117
Restructuring and other charges	9		—		9		—		18
Provision for depreciation and amortization	31		12		13		10		66
Capital expenditures	15		9		3		6		33
	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Nine months ended September 30, 2021
Sales:
Third-party sales	$	1,677	$	788	$	535	$	687	$	3,687
Inter-segment sales	3		—		4		—		7
Total sales	$	1,680	$	788	$	539	$	687	$	3,694
Profit and loss:
Segment operating profit	$	321	$	142	$	35	$	193	$	691
Restructuring and other charges	15		8		1		—		24
Provision for depreciation and amortization	92		37		37		29		195
Capital expenditures	48		22		13		37		120
Nine months ended September 30, 2020
Sales:
Third-party sales	$	1,851	$	982	$	710	$	476	$	4,019
Inter-segment sales	4		—		6		—		10
Total sales	$	1,855	$	982	$	716	$	476	$	4,029
Profit and loss:
Segment operating profit	$	309	$	199	$	57	$	91	$	656
Restructuring and other charges	44		26		21		3		94
Provision for depreciation and amortization	92		36		40		29		197
Capital expenditures	48		24		11		17		100

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:

	Third quarter ended				Nine months ended
	September 30,				September 30,
	2021		2020		2021		2020
Total segment operating profit	$	243	$	117	$	691	$	656
Unallocated amounts:
Restructuring and other charges	(8)		(22)		(22)		(166)
Corporate expense	(30)		(22)		(68)		(85)
Operating income	$	205	$	73	$	601	$	405
Loss on debt redemption	(118)		—		(141)		(64)
Interest expense, net	(63)		(77)		(201)		(241)
Other expense, net	(1)		(8)		(13)		—
Income (loss) from continuing operations before income taxes	$	23	$	(12)	$	246	$	100

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 the total segment and consolidated totals are in Corporate and discontinued operations, including the impact of changes in accrued capital expenditures during the period.

	Third quarter ended				Nine months ended
	September 30,				September 30,
	2021		2020		2021		2020
Total segment capital expenditures	$	47	$	33	$	120	$	100
Corporate and discontinued operations	—		3		18		120
Capital expenditures	$	47	$	36	$	138	$	220

Disaggregation of Revenue by Major End Market Served

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

	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Third quarter ended September 30, 2021
Aerospace - Commercial	$	299	$	126	$	118	$	—	$	543
Aerospace - Defense	130		37		65		—		232
Commercial Transportation	—		59		—		231		290
Industrial and Other	170		32		16		—		218
Total end-market revenue	$	599	$	254	$	199	$	231	$	1,283
Third quarter ended September 30, 2020
Aerospace - Commercial	$	199	$	169	$	104	$	—	$	472
Aerospace - Defense	142		37		82		—		261
Commercial Transportation	—		38		—		172		210
Industrial and Other	144		27		20		—		191
Total end-market revenue	$	485	$	271	$	206	$	172	$	1,134
Nine months ended September 30, 2021
Aerospace - Commercial	$	786	$	403	$	277	$	—	$	1,466
Aerospace - Defense	402		120		206		—		728
Commercial Transportation	—		154		—		687		841
Industrial and Other	489		111		52		—		652
Total end-market revenue	$	1,677	$	788	$	535	$	687	$	3,687
Nine months ended September 30, 2020
Aerospace - Commercial	$	1,018	$	650	$	432	$	—	$	2,100
Aerospace - Defense	394		120		216		—		730
Commercial Transportation	—		118		—		476		594
Industrial and Other	439		94		62		—		595
Total end-market revenue	$	1,851	$	982	$	710	$	476	$	4,019