Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

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, 2023
Sales:
Third-party sales	$	821	$	329	$	200	$	298	$	1,648
Inter-segment sales	5		—		1		—		6
Total sales	$	826	$	329	$	201	$	298	$	1,654
Profit and loss:
Provision for depreciation and amortization	$	32	$	12	$	12	$	10	$	66
Segment Adjusted EBITDA	223		64		20		81		388
Restructuring and other (credits) charges	(1)		—		5		—		4
Capital expenditures	21		5		5		7		38
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
	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Six months ended June 30, 2023
Sales:
Third-party sales	$	1,616	$	641	$	407	$	587	$	3,251
Inter-segment sales	7		—		1		—		8
Total sales	$	1,623	$	641	$	408	$	587	$	3,259
Profit and loss:
Provision for depreciation and amortization	$	64	$	23	$	24	$	19	$	130
Segment Adjusted EBITDA	435		122		50		160		767
Restructuring and other (credits) charges	(1)		—		6		—		5
Capital expenditures	54		14		15		16		99
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

Schedule of Segment Reporting Information to Consolidated Income Before income Taxes

The following table reconciles Total Segment Adjusted EBITDA to Income before income taxes. Differences between the total segment and consolidated totals are in Corporate.

	Second quarter ended				Six months ended
	June 30,				June 30,
	2023		2022		2023		2022
Total Segment Adjusted EBITDA	$	388	$	336	$	767	$	655
Segment provision for depreciation and amortization	(66)		(64)		(130)		(129)
Unallocated amounts:
Restructuring and other charges	(3)		(6)		(4)		(8)
Corporate expense	(34)		(25)		(63)		(47)
Operating income	$	285	$	241	$	570	$	471
Loss on debt redemption	—		(2)		(1)		(2)
Interest expense, net	(55)		(57)		(112)		(115)
Other income, net	13		1		6		—
Income before income taxes	$	243	$	183	$	463	$	354

Schedule of 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,
	2023		2022		2023		2022
Total segment capital expenditures	$	38	$	39	$	99	$	97
Corporate	3		5		6		9
Capital expenditures	$	41	$	44	$	105	$	106

Schedule of 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, 2023
Aerospace - Commercial	$	446	$	184	$	141	$	—	$	771
Aerospace - Defense	174		46		42		—		262
Commercial Transportation	—		62		—		298		360
Industrial and Other	201		37		17		—		255
Total end-market revenue	$	821	$	329	$	200	$	298	$	1,648
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
Six months ended June 30, 2023
Aerospace - Commercial	$	878	$	354	$	293	$	—	$	1,525
Aerospace - Defense	337		90		86		—		513
Commercial Transportation	—		125		—		587		712
Industrial and Other	401		72		28		—		501
Total end-market revenue	$	1,616	$	641	$	407	$	587	$	3,251
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