Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2017

Equity [Abstract]

Summary of Changes in Accumulated Other Comprehensive (Loss) by Component

The following table details the activity of the four components that comprise Accumulated other comprehensive loss for both Arconic’s shareholders and noncontrolling interests:

	Arconic						Noncontrolling Interests
	Second quarter ended June 30,						Second quarter ended June 30,
	2017			2016			2017			2016
Pension and other postretirement benefits (M)
Balance at beginning of period	$	(1,979	)	$	(3,579	)	$	—		$	(55	)
Other comprehensive income:
Unrecognized net actuarial loss and prior service cost		17			(5	)		—			1
Tax (expense) benefit		(5	)		3			—			—
Total Other comprehensive loss before reclassifications, net of tax		12			(2	)		—			1
Amortization of net actuarial loss and prior service cost(1)		56			104			—
Tax (expense) benefit(2)		(20	)		(37	)		—			1
Total amount reclassified from Accumulated other comprehensive loss, net of tax(5)		36			67			—			1
Total Other comprehensive income		48			65			—			2
Balance at end of period	$	(1,931	)	$	(3,514	)	$	—		$	(53	)
Foreign currency translation
Balance at beginning of period	$	(622	)	$	(2,109	)	$	(2	)	$	(673	)
Other comprehensive income(3)		99			45			—			32
Balance at end of period	$	(523	)	$	(2,064	)	$	(2	)	$	(641	)
Available-for-sale securities
Balance at beginning of period	$	99		$	(4	)	$	—		$	—
Other comprehensive (loss) income(4)		(101	)		3			—			—
Balance at end of period	$	(2	)	$	(1	)	$	—		$	—
Cash flow hedges
Balance at beginning of period	$	4		$	517		$	—		$	(5	)
Other comprehensive income (loss):
Net change from periodic revaluations		(4	)		(225	)		—			18
Tax benefit (expense)		1			66			—			(5	)
Total Other comprehensive income (loss) before reclassifications, net of tax		(3	)		(159	)		—			13
Net amount reclassified to earnings		1			7						5
Tax expense(2)		—			(1	)		—			(2	)
Total amount reclassified from Accumulated other comprehensive loss, net of tax(5)		1			6			—			3
Total Other comprehensive income (loss)		(2	)		(153	)		—			16
Balance at end of period	$	2		$	364		$	—		$	11

⁽¹⁾  These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits (see Note M).

⁽²⁾  These amounts were included in Provision for income taxes on the accompanying Statement of Consolidated Operations.

⁽³⁾  In all periods presented, there were no tax impacts related to rate changes and no amounts were reclassified to earnings.

⁽⁴⁾  Realized gains and losses were included in Other income, net on the accompanying Statement of Consolidated Operations.

⁽⁵⁾  A positive amount indicates a corresponding charge to earnings and a negative amount indicates a corresponding benefit to earnings. These amounts were reflected on the accompanying Statement of Consolidated Operations in the line items indicated in footnotes 2 through 4.

	Arconic						Noncontrolling Interests
	Six months ended June 30,						Six months ended June 30,
	2017			2016			2017			2016
Pension and other postretirement benefits (M)
Balance at beginning of period	$	(2,010	)	$	(3,611	)	$	—		$	(56	)
Other comprehensive income:
Unrecognized net actuarial loss and prior service cost		11			(64	)		—			1
Tax (expense) benefit		(4	)		26			—			—
Total Other comprehensive loss before reclassifications, net of tax		7			(38	)		—			1
Amortization of net actuarial loss and prior service cost(1)		111			208			—			2
Tax expense(2)		(39	)		(73	)		—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(5)		72			135			—			2
Total Other comprehensive income		79			97			—			3
Balance at end of period	$	(1,931	)	$	(3,514	)	$	—		$	(53	)
Foreign currency translation
Balance at beginning of period	$	(689	)	$	(2,412	)	$	(2	)	$	(780	)
Other comprehensive income(3)		166			348			—			139
Balance at end of period	$	(523	)	$	(2,064	)	$	(2	)	$	(641	)
Available-for-sale securities
Balance at beginning of period	$	132		$	(5	)	$	—		$	—
Other comprehensive (loss) income(4)		(134	)		4			—			—
Balance at end of period	$	(2	)	$	(1	)	$	—		$	—
Cash flow hedges
Balance at beginning of period	$	(1	)	$	597		$	—		$	(3	)
Other comprehensive income (loss):
Net change from periodic revaluations		4			(342	)		—			15
Tax (expense) benefit		(2	)		103			—			(4	)
Total Other comprehensive income (loss) before reclassifications, net of tax		2			(239	)		—			11
Net amount reclassified to earnings		1			5						5
Tax benefit (expense)(2)		—			1			—			(2	)
Total amount reclassified from Accumulated other comprehensive loss, net of tax(5)		1			6			—			3
Total Other comprehensive income (loss)		3			(233	)		—			14
Balance at end of period	$	2		$	364		$	—		$	11

⁽¹⁾  These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits (see Note M).

⁽²⁾  These amounts were included in Provision for income taxes on the accompanying Statement of Consolidated Operations.

⁽³⁾  In all periods presented, there were no tax impacts related to rate changes and no amounts were reclassified to earnings.

⁽⁴⁾  Realized gains and losses were included in Other income, net on the accompanying Statement of Consolidated Operations.

⁽⁵⁾  A positive amount indicates a corresponding charge to earnings and a negative amount indicates a corresponding benefit to earnings. These amounts were reflected on the accompanying Statement of Consolidated Operations in the line items indicated in footnotes 2 through 4.