Pension and Other Postretirement Benefits

3 Months Ended

Mar. 31, 2017

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits

L. Pension and Other Postretirement Benefits

The components of net periodic benefit cost were as follows:

							Other postretirement
	Pension benefits						benefits
	First quarter ended						First quarter ended
	March 31,						March 31,
	2017			2016			2017			2016
Service cost	$	23		$	40		$	2		$	3
Interest cost		58			122			8			18
Expected return on plan assets		(83	)		(185	)		—			—
Recognized net actuarial loss		55			102			1			6
Amortization of prior service cost (benefits)		1			4			(2	)		(6	)
Special termination benefits		—			1			—			—
Net periodic benefit cost*	$	54		$	84		$	9		$	21
Discontinued operations		—			33			—			12
Net amount recognized in Statement of Consolidated Operations	$	54		$	51		$	9		$	9

In conjunction with the Separation Transaction, the Pension Benefit Guaranty Corporation approved management’s plan to separate the Alcoa Inc. pension plans between Arconic Inc. and Alcoa Corporation. The plan stipulates that Arconic will make cash contributions over a period of 30 months to its two largest pension plans. Payments are expected to be made in three increments of no less than $50 each ($150 total) over this 30-month period. The first payment of $50 was made on April 18, 2017.

* Components of Net periodic benefit cost were included within Cost of goods sold, Selling, general administrative, and other expenses, Research and development expenses and Restructuring and other charges in the Statement of Consolidated Operations.