Segment Information (Tables)

9 Months Ended

Sep. 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
Third quarter ended September 30, 2023
Sales:
Third-party sales	$	798	$	348	$	227	$	285	$	1,658
Inter-segment sales	5		—		—		—		5
Total sales	$	803	$	348	$	227	$	285	$	1,663
Profit and loss:
Provision for depreciation and amortization	$	33	$	12	$	12	$	10	$	67
Segment Adjusted EBITDA	219		76		30		77		402
Restructuring and other charges	—		1		1		—		2
Capital expenditures	30		9		6		9		54
Third quarter ended September 30, 2022
Sales:
Third-party sales	$	683	$	291	$	193	$	266	$	1,433
Inter-segment sales	1		—		3		—		4
Total sales	$	684	$	291	$	196	$	266	$	1,437
Profit and loss:
Provision for depreciation and amortization	$	31	$	11	$	12	$	10	$	64
Segment Adjusted EBITDA	186		64		28		64		342
Restructuring and other charges	2		—		1		—		3
Capital expenditures	23		7		3		6		39
	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Nine months ended September 30, 2023
Sales:
Third-party sales	$	2,414	$	989	$	634	$	872	$	4,909
Inter-segment sales	12		—		1		—		13
Total sales	$	2,426	$	989	$	635	$	872	$	4,922
Profit and loss:
Provision for depreciation and amortization	$	97	$	35	$	36	$	29	$	197
Segment Adjusted EBITDA	654		198		80		237		1,169
Restructuring and other (credits) charges	(1)		1		7		—		7
Capital expenditures	84		23		21		25		153
Nine months ended September 30, 2022
Sales:
Third-party sales	$	1,966	$	832	$	560	$	792	$	4,150
Inter-segment sales	3		—		5		—		8
Total sales	$	1,969	$	832	$	565	$	792	$	4,158
Profit and loss:
Provision for depreciation and amortization	$	93	$	34	$	36	$	30	$	193
Segment Adjusted EBITDA	538		176		77		206		997
Restructuring and other charges (credits)	9		(3)		4		—		10
Capital expenditures	74		30		12		20		136

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.

	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Total Segment Adjusted EBITDA	$	402	$	342	$	1,169	$	997
Segment provision for depreciation and amortization	(67)		(64)		(197)		(193)
Unallocated amounts:
Restructuring and other charges	(4)		(4)		(8)		(12)
Corporate expense	(24)		(46)		(87)		(93)
Operating income	$	307	$	228	$	877	$	699
Loss on debt redemption	—		—		(1)		(2)
Interest expense, net	(54)		(57)		(166)		(172)
Other expense, net	(11)		(67)		(5)		(67)
Income before income taxes	$	242	$	104	$	705	$	458

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.

	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Total segment capital expenditures	$	54	$	39	$	153	$	136
Corporate	5		3		11		12
Capital expenditures	$	59	$	42	$	164	$	148

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
Third quarter ended September 30, 2023
Aerospace - Commercial	$	446	$	209	$	165	$	—	$	820
Aerospace - Defense	165		41		45		—		251
Commercial Transportation	—		67		—		285		352
Industrial and Other	187		31		17		—		235
Total end-market revenue	$	798	$	348	$	227	$	285	$	1,658
Third quarter ended September 30, 2022
Aerospace - Commercial	$	388	$	156	$	124	$	—	$	668
Aerospace - Defense	124		43		56		—		223
Commercial Transportation	—		63		—		266		329
Industrial and Other	171		29		13		—		213
Total end-market revenue	$	683	$	291	$	193	$	266	$	1,433
Nine months ended September 30, 2023
Aerospace - Commercial	$	1,324	$	563	$	458	$	—	$	2,345
Aerospace - Defense	502		131		131		—		764
Commercial Transportation	—		192		—		872		1,064
Industrial and Other	588		103		45		—		736
Total end-market revenue	$	2,414	$	989	$	634	$	872	$	4,909
Nine months ended September 30, 2022
Aerospace - Commercial	$	1,079	$	459	$	341	$	—	$	1,879
Aerospace - Defense	384		112		176		—		672
Commercial Transportation	—		169		—		792		961
Industrial and Other	503		92		43		—		638
Total end-market revenue	$	1,966	$	832	$	560	$	792	$	4,150