Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Schedule of Operating Results of Arconic's Reportable Segments

The operating results of the Company’s reportable segments were as follows:

	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Second quarter ended June 30, 2022
Sales:
Third-party sales	$	652	$	277	$	185	$	279	$	1,393
Inter-segment sales	1		—		1		—		2
Total sales	$	653	$	277	$	186	$	279	$	1,395
Profit and loss:
Provision for depreciation and amortization	$	31	$	11	$	12	$	10	$	64
Segment Adjusted EBITDA	179		56		26		75		336
Restructuring and other charges	4		—		1		—		5
Capital expenditures	24		8		2		5		39
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:
Provision for depreciation and amortization	$	30	$	13	$	13	$	9	$	65
Segment Adjusted EBITDA	130		63		24		70		287
Restructuring and other charges	5		3		—		—		8
Capital expenditures	16		9		5		13		43
	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Six months ended June 30, 2022
Sales:
Third-party sales	$	1,283	$	541	$	367	$	526	$	2,717
Inter-segment sales	2		—		2		—		4
Total sales	$	1,285	$	541	$	369	$	526	$	2,721
Profit and loss:
Provision for depreciation and amortization	$	62	$	23	$	24	$	20	$	129
Segment Adjusted EBITDA	352		112		49		142		655
Restructuring and other charges (credits)	7		(3)		3		—		7
Capital expenditures	51		23		9		14		97
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:
Provision for depreciation and amortization	$	61	$	25	$	25	$	19	$	130
Segment Adjusted EBITDA	262		120		46		150		578
Restructuring and other charges	10		5		1		—		16
Capital expenditures	27		14		10		22		73

Schedule of Segment Reporting Information to Consolidated Income Before income Taxes

The following table reconciles Total Segment Adjusted EBITDA to Income before income taxes:

	Second quarter ended				Six months ended
	June 30,				June 30,
	2022		2021		2022		2021
Total Segment Adjusted EBITDA	$	336	$	287	$	655	$	578
Segment provision for depreciation and amortization	(64)		(65)		(129)		(130)
Unallocated amounts:
Restructuring and other charges	(6)		(5)		(8)		(14)
Corporate expense	(25)		(10)		(47)		(38)
Operating income	$	241	$	207	$	471	$	396
Loss on debt redemption	(2)		(23)		(2)		(23)
Interest expense, net	(57)		(66)		(115)		(138)
Other income (expense), net	1		(8)		—		(12)
Income before income taxes	$	183	$	110	$	354	$	223

Reconciliation of Capital Expenditures from Segments to Consolidated

The following table reconciles total segment capital expenditures with Capital expenditures as presented in the Statement of Consolidated Cash Flows:

	Second quarter ended				Six months ended
	June 30,				June 30,
	2022		2021		2022		2021
Total segment capital expenditures	$	39	$	43	$	97	$	73
Corporate	5		(7)		9		18
Capital expenditures	$	44	$	36	$	106	$	91

Disaggregation of Revenue by Major End Market Served

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

	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Second quarter ended June 30, 2022
Aerospace - Commercial	$	362	$	155	$	108	$	—	$	625
Aerospace - Defense	123		37		63		—		223
Commercial Transportation	—		53		—		279		332
Industrial and Other	167		32		14		—		213
Total end-market revenue	$	652	$	277	$	185	$	279	$	1,393
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
Six months ended June 30, 2022
Aerospace - Commercial	$	691	$	303	$	217	$	—	$	1,211
Aerospace - Defense	260		69		120		—		449
Commercial Transportation	—		106		—		526		632
Industrial and Other	332		63		30		—		425
Total end-market revenue	$	1,283	$	541	$	367	$	526	$	2,717
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