Cash Flow Information

12 Months Ended

Dec. 31, 2016

Supplemental Cash Flow Elements [Abstract]

N. Cash Flow Information

Cash paid for interest and income taxes was as follows:


	2016		2015		2014
Interest, net of amount capitalized	$	524	$	487	$	441
Income taxes, net of amount refunded	$	324	$	345	$	301

The details related to cash paid for acquisitions (including of a noncontrolling interest in 2014) were as follows:


	2016			2015			2014
Assets acquired	$	-		$	2,003		$	3,515
Liabilities assumed		-			(868	)		(345	)
Contingent consideration liability		-			-			(130	)
Equity issued		-			(870	)		(610	)
Noncontrolling interest acquired		-			-			31
Working capital adjustment		(10	)		-			-
Increase in Arconic’s shareholders’ equity		-			(60	)		(3	)
Cash paid		(10	)		205			2,458
Less: cash acquired		-			302			45
Net cash paid	$	(10	)	$	(97	)	$	2,413

Noncash Financing and Investing Activities. On October 5, 2016, Arconic completed a 1-for-3 Reverse Stock Split (see Note A). The Reverse Stock Split reduced the number of shares of common stock outstanding from approximately 1.3 billion shares to approximately 0.4 billion shares. The par value of the common stock remained at $1.00 per share. Accordingly, Common stock and Additional capital in the Company’s Consolidated Balance Sheet at December 31, 2016 reflect a decrease and increase of $877, respectively. This transaction was not reflected on the Statement of Consolidated Cash Flows for the year ended December 31, 2016 as it represents a noncash financing activity.

In August 2016, Arconic retired its outstanding treasury stock consisting of approximately 76 million shares (see Note P). As a result, Common stock and Additional capital were decreased by $76 and $2,563, respectively, to reflect the retirement of the treasury shares. This transaction was not reflected on the Statement of Consolidated Cash Flows for the year ended December 31, 2016 as it represents a noncash financing activity.

In July 2015, Arconic purchased all outstanding shares of RTI common stock in a stock-for-stock transaction valued at $870 (see Note F). As a result, Arconic issued 29 million shares (87 million shares—pre-Reverse Stock Split—see Note A and Note P) of its common stock to consummate this transaction, which was not reflected in the accompanying Statement of Consolidated Cash Flows as it represents a noncash financing activity.

In early 2014, holders of $575 principal amount of Arconic’s 5.25% Convertible Notes due March 15, 2014 (the “2014 Notes”) exercised their option to convert the 2014 Notes into 30 million shares (89 million shares—pre-Reverse Stock Split—see Note A and Note P) of Arconic common stock. This transaction was not reflected in the accompanying Statement of Consolidated Cash Flows as it represents a noncash financing activity.

In late 2014, Arconic paid $2,995 (net of cash acquired) to acquire Firth Rixson (see Note F). A portion of this consideration was paid through the issuance of 12 million shares (37 million shares—pre-Reverse Stock Split—see Note A and Note P) in Arconic common stock valued at $610. The issuance of common stock was not reflected in the accompanying Statement of Consolidated Cash Flows as it represents a noncash investing activity.