XML 70 R61.htm IDEA: XBRL DOCUMENT v3.20.2
Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance at beginning of period $ 4,797 $ 5,178 $ 4,621 $ 5,585
Other comprehensive income:        
Foreign currency translation adjustments (8) (30) (73) (4)
Total Other comprehensive income (loss), net of tax 9 (17) (31) 59
Balance at end of period 3,449 4,866 3,449 4,866
Cumulative Effect, Period of Adoption, Adjustment        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance at beginning of period [1]       73
Accumulated other comprehensive loss        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance at beginning of period (3,369) (2,852) (3,329) (2,926)
Other comprehensive income:        
Total Other comprehensive income (loss), net of tax 9 (17) (31) 59
Balance at end of period (1,968) (2,869) (1,968) (2,869)
Accumulated other comprehensive loss | Cumulative Effect, Period of Adoption, Adjustment        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance at beginning of period [1]       (2)
Pension and other postretirement benefits        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance at beginning of period (2,695) (2,304) (2,732) (2,344)
Other comprehensive income:        
Unrecognized net actuarial loss and prior service cost/benefit (60) (6) (59) 66
Tax expense 8 1 8 (15)
Total Other comprehensive loss (income) before reclassifications, net of tax (52) (5) (51) 51
Amortization of net actuarial loss and prior service cost 74 36 117 15
Tax (expense) benefit (13) (8) (20) (3)
Amount reclassified from Accumulated other comprehensive loss, net of tax 61 28 97 12
Total Other comprehensive income (loss), net of tax 9 23 46 63
Transfer to Arconic Corporation 1,820 0 1,820 0
Balance at end of period (866) (2,281) (866) (2,281)
Foreign currency translation        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance at beginning of period (661) (557) (596) (583)
Other comprehensive income:        
Foreign currency translation adjustments (8) (30) (87) (4)
Amount reclassified from Accumulated other comprehensive loss, net of tax 0 0 14 0
Total Other comprehensive income (loss), net of tax (8) (30) (73) (4)
Transfer to Arconic Corporation (428) 0 (428) 0
Balance at end of period (1,097) (587) (1,097) (587)
Available-for-sale securities        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance at beginning of period 1 0 0 (3)
Other comprehensive income:        
Total Other comprehensive income (loss), net of tax (1) 0 0 3
Balance at end of period 0 0 0 0
Cash flow hedges        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance at beginning of period (14) 9 (1) 4
Other comprehensive income:        
Unrecognized net actuarial loss and prior service cost/benefit 3 (13) (8) (5)
Tax expense 1 3 0 2
Total Other comprehensive loss (income) before reclassifications, net of tax 4 (10) (8) (3)
Amortization of net actuarial loss and prior service cost 5 (1) 4 (1)
Tax (expense) benefit 0 1 0 1
Amount reclassified from Accumulated other comprehensive loss, net of tax 5 0 4 0
Total Other comprehensive income (loss), net of tax 9 (10) (4) (3)
Balance at end of period (5) (1) (5) (1)
Cash flow hedges | Cumulative Effect, Period of Adoption, Adjustment        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance at beginning of period $ 0 $ 0 $ 0 $ (2)
[1] The Company entered into a sale leaseback arrangement in October 2018 for a cast house that is now part of Arconic Corporation, and due to continuing involvement, the gain on sale was deferred. In connection with the adoption of the new lease accounting standard on January 1, 2019, the arrangement no longer required that the gain be deferred. As such, the associated $73 deferred gain, net of tax was recognized as a cumulative effect of an accounting change within Accumulated deficit. Also, the Company adopted the new hedge accounting guidance on January 1, 2019. As a result, an adjustment of $2 was recognized as a cumulative effect of an accounting change within Accumulated deficit with an offset to Accumulated other comprehensive loss related to the elimination of a separate measurement of ineffectiveness for its cash flow hedges.