Consolidated Balance Sheet - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 720	$ 1,610
Receivables from customers, less allowances of $— in 2021 and $1 in 2020	367	328
Other receivables	53	29
Inventories	1,402	1,488
Prepaid expenses and other current assets	195	217
Total current assets	2,737	3,672
Properties, plants, and equipment, net	2,467	2,592
Goodwill	4,067	4,102
Deferred income taxes	184	272
Intangibles, net	549	571
Other noncurrent assets	215	234
Total assets	10,219	11,443
Current liabilities:
Accounts payable, trade	732	599
Accrued compensation and retirement costs	198	205
Taxes, including income taxes	61	102
Accrued interest payable	74	89
Other current liabilities	183	289
Short-term debt	5	376
Total current liabilities	1,253	1,660
Long-term debt, less amount due within one year	4,227	4,699
Accrued pension benefits	771	985
Accrued other postretirement benefits	153	198
Other noncurrent liabilities and deferred credits	307	324
Total liabilities	6,711	7,866
Contingencies and commitments
Howmet Aerospace Inc. shareholders’ equity:
Preferred stock	55	55
Common stock	422	433
Additional capital	4,291	4,668
Retained earnings	603	364
Accumulated other comprehensive loss	(1,863)	(1,943)
Total Howmet Aerospace Inc. shareholders’ equity	3,508	3,577
Noncontrolling interests	0	0
Total equity	3,508	3,577
Total liabilities and equity	$ 10,219	$ 11,443