Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Carrying Values and Fair Values of Financial Instruments

The carrying values and fair values of Arconic’s financial instruments were as follows:

	March 31, 2017				December 31, 2016
	Carrying		Fair		Carrying		Fair
	value		value		value		value
Cash and cash equivalents	$	2,553	$	2,553	$	1,863	$	1,863
Restricted cash		1		1		15		15
Derivatives - current asset		40		40		14		14
Noncurrent receivables		21		21		21		21
Derivatives - noncurrent asset		24		24		10		10
Available-for-sale securities		103		103		102		102
Investment in common stock of Alcoa Corporation		446		446		1,020		1,020
Short-term borrowings		47		47		36		36
Derivatives - current liability		28		28		5		5
Long-term debt due within one year		—		—		4		4
Derivatives - noncurrent liability		11		11		3		3
Contingent payment related to an acquisition		79		79		78		78
Long-term debt, less amount due within one year		8,046		8,652		8,044		8,519