Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Accumulated Other Comprehensive Income

The following table details the activity of the three components that comprise Accumulated other comprehensive (loss) income for Arconic Corporation (such activity for noncontrolling interest was immaterial for all periods presented):


	Second quarter ended June 30,						Six months ended June 30,
	2020		2019		2020		2019
Pension and other postretirement benefits (G)
Balance at beginning of period	$	(1,770)	$	(32)	$	(43)	$	(32)
Establishment of additional defined benefit plans	—		—		(1,752)		—
Separation-related adjustments (A)	(50)		—		(50)		—
Other comprehensive income:
Unrecognized net actuarial loss and prior service benefit	(40)		(1)		(38)		(2)
Tax benefit	10		1		9		1
Total Other comprehensive loss before reclassifications, net of tax	(30)		—		(29)		(1)
Amortization of net actuarial loss and prior service benefit⁽¹⁾	86		1		117		2
Tax expense⁽²⁾	(20)		(1)		(27)		(1)
Total amount reclassified from Accumulated other comprehensive loss, net of tax⁽⁵⁾	66		—		90		1
Total Other comprehensive income	36		—		61		—
Balance at end of period	$	(1,784)	$	(32)	$	(1,784)	$	(32)
Foreign currency translation
Balance at beginning of period	$	338	$	339	$	338	$	282
Separation-related adjustments (A)	(396)		—		(396)		—
Other comprehensive income (loss):
Foreign currency translation⁽³⁾	5		(43)		(17)		14
Net amount reclassified to earnings from Accumulated other comprehensive income^(3),(5)	—		—		22		—
Total Other comprehensive income (loss)	5		(43)		5		14
Balance at end of period	$	(53)	$	296	$	(53)	$	296
Cash flow hedges
Balance at beginning of period	$	—	$	—	$	—	$	—
Separation-related adjustments (A)	(4)		—		(4)		—
Other comprehensive loss:
Net change from periodic revaluations	2		—		2		—
Tax expense	—		—		—		—
Total Other comprehensive income before reclassifications, net of tax	2		—		2		—
Net amount reclassified to earnings⁽⁴⁾	(11)		—		(11)		—
Tax benefit⁽²⁾	2		—		2		—
Total amount reclassified from Accumulated other comprehensive loss, net of tax⁽⁵⁾	(9)		—		(9)		—
Total Other comprehensive loss	(7)		—		(7)		—
Balance at end of period	$	(11)	$	—	$	(11)	$	—
Accumulated other comprehensive (loss) income	$	(1,848)	$	264	$	(1,848)	$	264

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(1)These amounts were included in the non-service component of net periodic benefit cost for pension and other postretirement benefits (see Note G). For the second quarter ended and six months ended June 30, 2020, these amounts include $55 related to the settlement of certain pension benefits (see Note G).

(2)These amounts were reported 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. In the 2020 six-month period, the net amount reclassified to earnings was reported in Restructuring and other charges on the accompanying Statement of Consolidated Operations related to the sale of certain foreign subsidiaries.

(4)These amounts relate to aluminum contracts, a portion of which were reported in both Sales and Cost of goods sold 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 1 through 4.