0000004281-23-000020 | 10-Q | XBRL Viewer

Print Document View Excel Document

Recently Adopted and Recently Issued Accounting Guidance	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Recently Adopted and Recently Issued Accounting Guidance	Recently Adopted and Recently Issued Accounting Guidance Adopted In September 2022, the Financial Accounting Standards Board (“FASB”) issued guidance to enhance the transparency of disclosures regarding supplier finance programs. These changes became effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. On January 1, 2023, the Company adopted the changes issued by the FASB related to disclosure requirements of supplier finance program obligations. We offer voluntary supplier finance programs to suppliers who may elect to sell their receivables to third parties at the sole discretion of both the suppliers and the third parties. The program is at no cost to the Company and provides additional liquidity to our suppliers, if they desire, at their cost. Under these programs, the Company pays the third party bank rather than the supplier, the stated amount of the confirmed invoices on the original maturity date of the invoices. The Company or the third party bank may terminate a program upon at least 30 days’ notice. Supplier invoices under the program require payment in full no more than 120 days of the invoice date. As of September 30, 2023 and December 31, 2022, supplier invoices that are subject to future payment under these programs were $254 and $240, respectively, and are included in Accounts payable, trade in the Consolidated Balance Sheet. Issued In March 2020, the FASB issued amendments that provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform, if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference London Inter-bank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued due to reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. In December 2022, the FASB deferred the sunset date to December 31, 2024. The Company has amended its agreements in accordance with the new guidance (See Note J and Note N). Management has concluded that the impact of these changes is not expected to have a material impact on the Consolidated Financial Statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-6

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 250
-Publisher FASB
-URI https://asc.fasb.org//250/tableOfContent

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

+ Details

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 3,775	$ 3,421	$ 3,601	$ 3,508
Other comprehensive income (loss):
Total Other comprehensive loss, net of tax	(42)	(119)	(9)	(248)
Ending balance	3,872	3,273	3,872	3,273
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,808)	(1,992)	(1,841)	(1,863)
Other comprehensive income (loss):
Total Other comprehensive loss, net of tax	(42)	(119)	(9)	(248)
Ending balance	(1,850)	(2,111)	(1,850)	(2,111)
Pension and other postretirement benefits (E)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(644)	(767)	(653)	(799)
Other comprehensive income (loss):
Other comprehensive gain (loss) income, before reclassifications, before tax	7	(3)	7	13
Tax income (expense)	(1)	0	(1)	(3)
Total Other comprehensive income (loss) before reclassifications, net of tax	6	(3)	6	10
Amortization of net actuarial loss and prior service cost and net amount reclassified to earnings	5	13	17	38
Tax expense	(1)	(3)	(4)	(9)
Total amount reclassified from Accumulated other comprehensive income (loss), net of tax	4	10	13	29
Total Other comprehensive loss, net of tax	10	7	19	39
Ending balance	(634)	(760)	(634)	(760)
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,155)	(1,207)	(1,193)	(1,062)
Other comprehensive income (loss):
Total Other comprehensive loss, net of tax	(56)	(128)	(18)	(273)
Ending balance	(1,211)	(1,335)	(1,211)	(1,335)
Cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(9)	(18)	5	(2)
Other comprehensive income (loss):
Other comprehensive gain (loss) income, before reclassifications, before tax	1	(6)	(13)	(17)
Tax income (expense)	0	2	3	4
Total Other comprehensive income (loss) before reclassifications, net of tax	1	(4)	(10)	(13)
Amortization of net actuarial loss and prior service cost and net amount reclassified to earnings	4	9	0	(1)
Tax expense	(1)	(3)	0	0
Total amount reclassified from Accumulated other comprehensive income (loss), net of tax	3	6	0	(1)
Total Other comprehensive loss, net of tax	4	2	(10)	(14)
Ending balance	$ (5)	$ (16)	$ (5)	$ (16)

Restructuring and Other Charges - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	$ 4	$ 4	$ 8	$ 12
Settlements	2	3	5	7
Accelerated depreciation	1	1	3	6
Layoff costs	1	0	1	0
Reversal of Prior Period Programs
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges			1	1
Pension benefits
Restructuring Cost and Reserve [Line Items]
Settlements	2	3	5	7
Pension benefits \| Layoff Costs
Restructuring Cost and Reserve [Line Items]
Settlements			$ 5
US \| Pension benefits
Restructuring Cost and Reserve [Line Items]
Settlements				7
United States and Canada \| Pension benefits
Restructuring Cost and Reserve [Line Items]
Settlements		$ 3		$ 7
Canada \| Pension benefits
Restructuring Cost and Reserve [Line Items]
Settlements	$ 2

Debt (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt


	September 30, 2023		December 31, 2022



5.125% Notes, due 2024(1)	$	705	$	1,081
6.875% Notes, due 2025(1)	600		600
5.900% Notes, due 2027	625		625
6.750% Bonds, due 2028	300		300
3.000% Notes, due 2029	700		700
5.950% Notes, due 2037	625		625
4.750% Iowa Finance Authority Loan, due 2042	250		250
Other(2)	(11)		(19)


Total long-term debt	$	3,794	$	4,162

(1)The 5.125% Notes, due 2024 (the “5.125% Notes”) are due in October 2024 and the 6.875% Notes, due 2025 are due in May 2025.

(2)Includes various financing arrangements related to subsidiaries, unamortized debt discounts, and unamortized debt issuance costs related to outstanding notes and bonds listed in the table above.

Restructuring and Other Charges

9 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Other Charges


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Layoff costs	$	1	$	—	$	1	$	—
Reversals of previously recorded layoff reserves	—		—		(1)		(1)
Pension and Other post-retirement benefits - net settlements (E)	2		3		5		7


Other	1		1		3		6
Total restructuring and other charges	$	4	$	4	$	8	$	12

In the third quarter of 2023, the Company recorded Restructuring and other charges of $4, which were primarily due to charges for a Canadian pension plan settlement of $2, layoff charges of $1, and exit related costs, including accelerated depreciation, of $1.

In the nine months ended September 30, 2023, the Company recorded Restructuring and other charges of $8, which were primarily due to charges for U.S. and Canadian pension plan settlements of $5, exit related costs, including accelerated depreciation, of $3, and layoff charges of $1, partially offset by a reversal of $1 for a layoff reserve related to a prior period.

In the third quarter of 2022, the Company recorded Restructuring and other charges of $4, which were primarily due to charges for U.S. and Canadian pension plan settlements of $3 and exit related costs, including accelerated depreciation, of $1.

In the nine months ended September 30, 2022, the Company recorded Restructuring and other charges of $12, which were primarily due to charges for U.S. pension plan settlements of $7 and exit related costs, including accelerated depreciation, of $6, partially offset by a reversal of $1 for a layoff reserve related to a prior period.


	Layoff costs		Other exit costs		Total
Reserve balances at December 31, 2022	$	6	$	2	$	8
Cash payments	(2)		(2)		(4)
Restructuring charges	5		3		8
Other(1)	(5)		(1)		(6)
Reserve balances at September 30, 2023	$	4	$	2	$	6

(1)In the nine months ended September 30, 2023, other for layoff costs included $5 of charges for U.S. and Canadian pension plan settlements and for other exit costs included a $1 charge for accelerated depreciation.

The remaining reserves as of September 30, 2023 are expected to be paid in cash during the remainder of 2023 and 2024.

Earnings Per Share and Common Stock - Narrative (Details) - USD ($)	3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Aug. 18, 2021
Earnings Per Share [Abstract]
Common stock outstanding (in shares)	412,000,000			414,000,000			412,000,000	414,000,000	412,000,000
Authorized repurchase amount										$ 1,500,000,000
Remaining authorized repurchase amount	$ 797,000,000						$ 797,000,000		$ 797,000,000
Decrease in average shares outstanding, basic (in shares)	3,000,000
Share repurchases (in shares)	506,800	2,246,294	576,629	2,764,846	1,770,271	5,147,307	3,329,723	9,682,424	5,000,000
Common stock, dividends declared (in usd per share)	$ 0.09			$ 0.06			$ 0.17	$ 0.10
Common stock, dividends per share, paid (in usd per share)	$ 0.04			$ 0.02			$ 0.12	$ 0.06
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive securities (in shares)	0			0			0	0

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The interim Consolidated Financial Statements of Howmet Aerospace Inc. and its subsidiaries (“Howmet” or the “Company” or “we” or “our”) are unaudited. These Consolidated Financial Statements include all adjustments, consisting only of normal recurring adjustments, considered necessary by management to fairly state the Company’s results of operations, financial position, and cash flows. The results reported in these Consolidated Financial Statements are not necessarily indicative of the results that may be expected for the entire year. The 2022 year-end balance sheet data was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). This Form 10-Q report should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2022 (the “Form 10-K”), which includes all disclosures required by GAAP. Certain amounts in previously issued financial statements were reclassified to conform to the current period presentation. In the third quarter of 2023, the Company derived approximately 49% of its revenue from products sold to the commercial aerospace market which is substantially less than the 2019 annual rate of approximately 60%. During the global COVID-19 pandemic and its impact on the commercial aerospace industry to date, there was a decrease in domestic and international air travel, which in turn adversely affected demand for narrow body and wide body aircraft. Domestic air travel has rebounded and exceeds 2019 levels. International air travel continues to recover and is approximately 90% of 2019 levels. We expect commercial aerospace growth to continue. The commercial wide body aircraft market is emerging but the mix of wide body to narrow body aircraft remains below 2019 levels, which is creating a shift in our product mix compared to 2019 conditions. In addition to the impact from the pandemic, the timing and level of future aircraft builds by original equipment manufacturers are subject to changes and uncertainties, which may cause our future results to differ from prior periods due to changes in product mix in certain segments. The preparation of the Consolidated Financial Statements of the Company in conformity with GAAP requires management to make certain judgments, estimates, and assumptions. These estimates are based on historical experience and, in some cases, assumptions based on current and future market experience, including considerations related to COVID-19 and changes in the aerospace industry. The impact of these changes, including the macroeconomic considerations, remains highly uncertain. Management has made its best estimates using all relevant information available at the time, but it is possible that our estimates will differ from our actual results and affect the Consolidated Financial Statements in future periods and potentially require adverse adjustments to the recoverability of goodwill, intangible and long-lived assets, the realizability of deferred tax assets and other judgments and estimations and assumptions.

Basis of Presentation (Details) - Customer Concentration Risk	3 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2019
Aerospace - Commercial \| Revenue Benchmark
Concentration Risk [Line Items]
Concentration risk (as a percent)	49.00%	60.00%
Pre-Pandemic Levels For Domestic Air Travel \| Domestic Air Travel
Concentration Risk [Line Items]
Concentration risk (as a percent)	90.00%

Statement of Consolidated Cash Flows (unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities
Net income	$ 529	$ 358
Adjustments to reconcile net income to cash provided from operations:
Depreciation and amortization	204	198
Deferred income taxes	92	58
Restructuring and other charges	8	12
Net realized and unrealized losses	17	12
Net periodic pension cost (E)	28	17
Stock-based compensation	39	43
Loss on debt redemption (N)	1	2
Other	2	26
Changes in assets and liabilities, excluding effects of acquisitions, divestitures, and foreign currency translation adjustments:
Increase in receivables (J)	(211)	(246)
Increase in inventories	(148)	(271)
(Increase) decrease in prepaid expenses and other current assets	(12)	5
(Decrease) increase in accounts payable, trade	(57)	130
(Decrease) increase in accrued expenses	(18)	18
Increase (decrease) in taxes, including income taxes	17	(1)
Pension contributions	(19)	(34)
Increase in noncurrent assets	(2)	(5)
Decrease in noncurrent liabilities	(27)	(44)
Cash provided from operations	443	278
Financing Activities
Net change in short-term borrowings	0	(4)
Repurchases and payments on debt (N)	(376)	(60)
Premiums paid on early redemption of debt (N)	(1)	(2)
Repurchases of common stock	(150)	(335)
Proceeds from exercise of employee stock options	10	14
Dividends paid to shareholders	(52)	(27)
Taxes paid for net share settlement of equity awards	(77)	(23)
Cash used for financing activities	(646)	(437)
Investing Activities
Capital expenditures (C)	(164)	(148)
Proceeds from the sale of assets and businesses (L)	1	42
Cash used for investing activities	(163)	(106)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1)	(3)
Net change in cash, cash equivalents and restricted cash	(367)	(268)
Cash, cash equivalents and restricted cash at beginning of period	792	722
Cash, cash equivalents and restricted cash at end of period	$ 425	$ 454

Leases - Operating Lease Assets and Liabilities in the Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Right-of-use assets classified in Other noncurrent assets	$ 112	$ 111
Current portion of lease liabilities classified in Other current liabilities	32	32
Long-term portion of lease liabilities classified in Other noncurrent liabilities and deferred credits	83	83
Total lease liabilities	$ 115	$ 115
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets, Noncurrent	Other Assets, Noncurrent
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities (M)(P)	Other current liabilities (M)(P)
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other noncurrent liabilities and deferred credits (M)	Other noncurrent liabilities and deferred credits (M)

Earnings Per Share and Common Stock - Reconciliation of Information Used to Compute Basic and Diluted EPS (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net income attributable to common shareholders	$ 188	$ 80	$ 529	$ 358
Less: preferred stock dividends declared	1	1	2	2
Net income available to Howmet Aerospace common shareholders - basic	187	79	527	356
Net income available to Howmet Aerospace common shareholders - diluted	$ 187	$ 79	$ 527	$ 356
Average shares outstanding - basic (in shares)	412	415	412	417
Effect of dilutive securities:
Stock and performance awards (in shares)	3	5	5	5
Average shares outstanding - diluted (in shares)	415	420	417	422

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 6.B)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-11

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Segment Information

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segment Information

Howmet is a global leader in lightweight metals engineering and manufacturing. Howmet’s innovative, multi-material products, which include nickel, titanium, aluminum, and cobalt, are used worldwide in the aerospace (commercial and defense), commercial transportation, and industrial and other markets. Segment performance under Howmet’s management reporting system is evaluated based on a number of factors; however, the primary measure of performance is Segment Adjusted EBITDA. Howmet’s definition of Segment Adjusted EBITDA (Earnings before interest, taxes, depreciation, and amortization) is net margin plus an add-back for depreciation and amortization. Net margin is equivalent to Sales minus the following items: Cost of goods sold; Selling, general administrative, and other expenses; Research and development expenses; and Provision for depreciation and amortization. Special items, including Restructuring and other charges, are excluded from net margin and Segment Adjusted EBITDA. Segment Adjusted EBITDA may not be comparable to similarly titled measures of other companies. Differences between the total segment and consolidated totals are in Corporate.

Howmet’s operations consist of four worldwide reportable segments as follows:

Engine Products

Engine Products produces investment castings, including airfoils, and seamless rolled rings primarily for aircraft engines and industrial gas turbines. Engine Products produces rotating parts as well as structural parts.

Fastening Systems

Fastening Systems produces aerospace fastening systems, as well as commercial transportation, industrial and other fasteners. The business’s high-tech, multi-material fastening systems are found nose to tail on aircraft and aero engines. Fastening Systems’ products are also critical components of commercial transportation vehicles, automobiles, construction and industrial equipment, and renewable energy sectors.

Engineered Structures

Engineered Structures produces titanium ingots and mill products for aerospace and defense applications and is vertically integrated to produce titanium forgings, extrusions, forming and machining services for airframe, wing, aero-engine, and landing gear components. Engineered Structures also produces aluminum forgings, nickel forgings, and aluminum machined components and assemblies for aerospace and defense applications.

Forged Wheels

Forged Wheels provides forged aluminum wheels and related products for heavy-duty trucks and the commercial transportation market.

The operating results of the Company’s reportable segments were as follows:


	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Third quarter ended September 30, 2023
Sales:
Third-party sales	$	798	$	348	$	227	$	285	$	1,658
Inter-segment sales	5		—		—		—		5
Total sales	$	803	$	348	$	227	$	285	$	1,663
Profit and loss:

Provision for depreciation and amortization	$	33	$	12	$	12	$	10	$	67
Segment Adjusted EBITDA	219		76		30		77		402
Restructuring and other charges	—		1		1		—		2
Capital expenditures	30		9		6		9		54

Third quarter ended September 30, 2022
Sales:
Third-party sales	$	683	$	291	$	193	$	266	$	1,433
Inter-segment sales	1		—		3		—		4
Total sales	$	684	$	291	$	196	$	266	$	1,437
Profit and loss:

Provision for depreciation and amortization	$	31	$	11	$	12	$	10	$	64
Segment Adjusted EBITDA	186		64		28		64		342
Restructuring and other charges	2		—		1		—		3
Capital expenditures	23		7		3		6		39

	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Nine months ended September 30, 2023
Sales:
Third-party sales	$	2,414	$	989	$	634	$	872	$	4,909
Inter-segment sales	12		—		1		—		13
Total sales	$	2,426	$	989	$	635	$	872	$	4,922
Profit and loss:

Provision for depreciation and amortization	$	97	$	35	$	36	$	29	$	197
Segment Adjusted EBITDA	654		198		80		237		1,169
Restructuring and other (credits) charges	(1)		1		7		—		7
Capital expenditures	84		23		21		25		153

Nine months ended September 30, 2022
Sales:
Third-party sales	$	1,966	$	832	$	560	$	792	$	4,150
Inter-segment sales	3		—		5		—		8
Total sales	$	1,969	$	832	$	565	$	792	$	4,158
Profit and loss:

Provision for depreciation and amortization	$	93	$	34	$	36	$	30	$	193
Segment Adjusted EBITDA	538		176		77		206		997
Restructuring and other charges (credits)	9		(3)		4		—		10
Capital expenditures	74		30		12		20		136

The following table reconciles Total Segment Adjusted EBITDA to Income before income taxes. Differences between the total segment and consolidated totals are in Corporate.


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Total Segment Adjusted EBITDA	$	402	$	342	$	1,169	$	997
Segment provision for depreciation and amortization	(67)		(64)		(197)		(193)
Unallocated amounts:
Restructuring and other charges	(4)		(4)		(8)		(12)
Corporate expense	(24)		(46)		(87)		(93)
Operating income	$	307	$	228	$	877	$	699
Loss on debt redemption	—		—		(1)		(2)
Interest expense, net	(54)		(57)		(166)		(172)
Other expense, net	(11)		(67)		(5)		(67)
Income before income taxes	$	242	$	104	$	705	$	458

The following table reconciles total segment capital expenditures with Capital expenditures as presented in the Statement of Consolidated Cash Flows.


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Total segment capital expenditures	$	54	$	39	$	153	$	136
Corporate	5		3		11		12
Capital expenditures	$	59	$	42	$	164	$	148

The following table disaggregates segment revenue by major market served. Differences between the total segment and consolidated totals are in Corporate.


	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Third quarter ended September 30, 2023
Aerospace - Commercial	$	446	$	209	$	165	$	—	$	820
Aerospace - Defense	165		41		45		—		251
Commercial Transportation	—		67		—		285		352
Industrial and Other	187		31		17		—		235
Total end-market revenue	$	798	$	348	$	227	$	285	$	1,658

Third quarter ended September 30, 2022
Aerospace - Commercial	$	388	$	156	$	124	$	—	$	668
Aerospace - Defense	124		43		56		—		223
Commercial Transportation	—		63		—		266		329
Industrial and Other	171		29		13		—		213
Total end-market revenue	$	683	$	291	$	193	$	266	$	1,433

Nine months ended September 30, 2023
Aerospace - Commercial	$	1,324	$	563	$	458	$	—	$	2,345
Aerospace - Defense	502		131		131		—		764
Commercial Transportation	—		192		—		872		1,064
Industrial and Other	588		103		45		—		736
Total end-market revenue	$	2,414	$	989	$	634	$	872	$	4,909

Nine months ended September 30, 2022
Aerospace - Commercial	$	1,079	$	459	$	341	$	—	$	1,879
Aerospace - Defense	384		112		176		—		672
Commercial Transportation	—		169		—		792		961
Industrial and Other	503		92		43		—		638
Total end-market revenue	$	1,966	$	832	$	560	$	792	$	4,150

The Company derived 63% and 61% of its revenue from the aerospace (commercial and defense) markets for the nine months ended September 30, 2023 and 2022, respectively.

General Electric Company and RTX Corporation represented approximately 13% and 10%, respectively, of the Company’s third-party sales for the nine months ended September 30, 2023. General Electric Company and RTX Corporation represented approximately 13% and 9%, respectively, of the Company’s third-party sales for the nine months ended September 30, 2022. These sales were primarily from the Engine Products segment.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Pension and Other Postretirement Benefits

9 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits

The components of net periodic cost (benefit) were as follows:


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Pension benefits
Service cost	$	—	$	1	$	2	$	3
Interest cost	20		13		60		38
Expected return on plan assets	(18)		(20)		(55)		(61)
Recognized net actuarial loss	7		12		21		37

Settlements	2		3		5		7


Net periodic cost(1)	$	11	$	9	$	33	$	24



Other postretirement benefits
Service cost	$	1	$	—	$	1	$	1
Interest cost	2		1		5		3
Recognized net actuarial (gain) loss	(1)		—		(2)		1
Amortization of prior service benefit	(3)		(2)		(7)		(7)


Net periodic benefit(1)	$	(1)	$	(1)	$	(3)	$	(2)

(1)Service cost was included within Cost of goods sold and Selling, general administrative, and other expenses; settlements were included in Restructuring and other charges; and all other cost components were recorded in Other expense, net in the Statement of Consolidated Operations.

Pension benefits

In the third quarter and nine months ended September 30, 2023, the Company applied settlement accounting to its Canadian pension plan due to lump sum payments made to participants, reducing gross pension obligations by $12. In June 2023, the Company also undertook additional actions to reduce gross pension obligations by $19 by purchasing group annuity contracts from a third-party carrier to pay and administer future annuity payments of a U.S. pension plan. Settlement charges of $2 and

$5 were recognized in the third quarter and nine months ended September 30, 2023, respectively. In the third quarter and nine months ended September 30, 2022, the Company applied settlement accounting to certain small U.S. and Canadian pension plans due to lump sum payments made to participants, which resulted in settlement charges of $3 and $7, respectively. All settlement charges were recorded in Restructuring and other charges in the Statement of Consolidated Operations.For the third quarter and nine months ended September 30, 2023, Howmet’s combined pension contributions and other postretirement benefit payments were approximately $9 and $28, respectively. For the third quarter and nine months ended September 30, 2022, Howmet’s combined pension contributions and other postretirement benefit payments were approximately $18 and $43, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Debt - Credit Facility (Details)			9 Months Ended	12 Months Ended
Debt - Credit Facility (Details)	Jul. 27, 2023 USD ($) extension	Sep. 28, 2021	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Amounts outstanding			$ 0	$ 0
Borrowings			$ 0	$ 0
Base Rate
Debt Instrument [Line Items]
Basis spread (as a percent)	0.325%
SOFR
Debt Instrument [Line Items]
Basis spread (as a percent)	1.325%
EURIBOR
Debt Instrument [Line Items]
Basis spread (as a percent)	1.325%
Line of Credit \| Maximum
Debt Instrument [Line Items]
Debt covenants, net debt to consolidated EBITDA ratio	3.75
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Credit agreement term (in years)	5 years	5 years
Maximum borrowing capacity	$ 1,000,000,000
Number of extension requests \| extension	2
Extension period (in years)	1 year
Maximum additional borrowing capacity	$ 500,000,000
Commitment fee (as a percent)	0.175%
Line of Credit \| Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 500,000,000
Other Debt
Debt Instrument [Line Items]
Debt default (in excess of)	$ 100,000,000

Statement of Consolidated Comprehensive Income (unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 188	$ 80	$ 529	$ 358
Other comprehensive income (loss), net of tax (I):
Change in unrecognized net actuarial loss and prior service cost related to pension and other postretirement benefits	10	7	19	39
Foreign currency translation adjustments	(56)	(128)	(18)	(273)
Net change in unrecognized gains (losses) on cash flow hedges	4	2	(10)	(14)
Total Other comprehensive loss, net of tax	(42)	(119)	(9)	(248)
Comprehensive income (loss)	$ 146	$ (39)	$ 520	$ 110

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Other Expense, Net (Tables)

9 Months Ended

Sep. 30, 2023

Other Income and Expenses [Abstract]

Schedule of Other Expense, Net


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Non-service costs - pension and other postretirement benefits (E)	$	7	$	4	$	22	$	11
Interest income	(5)		(2)		(15)		(3)
Foreign currency losses (gains), net	5		(3)		3		(7)
Net realized and unrealized losses	6		5		17		12

Deferred compensation	(1)		(2)		5		(11)
Other, net	(1)		65		(27)		65
Total other expense, net	$	11	$	67	$	5	$	67

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

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

The following table details the activity of the three components that comprise Accumulated other comprehensive loss:


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Pension and other postretirement benefits (E)
Balance at beginning of period	$	(644)	$	(767)	$	(653)	$	(799)
Other comprehensive income (loss):
Unrecognized net actuarial gain (loss) and prior service cost/benefit	7		(3)		7		13
Tax expense	(1)		—		(1)		(3)
Total Other comprehensive income (loss) before reclassifications, net of tax	6		(3)		6		10
Amortization of net actuarial loss and prior service cost(1)	5		13		17		38
Tax expense(2)	(1)		(3)		(4)		(9)
Total amount reclassified from Accumulated other comprehensive income, net of tax(3)	4		10		13		29
Total Other comprehensive income	10		7		19		39

Balance at end of period	$	(634)	$	(760)	$	(634)	$	(760)
Foreign currency translation
Balance at beginning of period	$	(1,155)	$	(1,207)	$	(1,193)	$	(1,062)


Other comprehensive loss(4)	(56)		(128)		(18)		(273)

Balance at end of period	$	(1,211)	$	(1,335)	$	(1,211)	$	(1,335)




Cash flow hedges
Balance at beginning of period	$	(9)	$	(18)	$	5	$	(2)

Other comprehensive income (loss):
Net change from periodic revaluations	1		(6)		(13)		(17)
Tax income	—		2		3		4
Total Other comprehensive income (loss) before reclassifications, net of tax	1		(4)		(10)		(13)
Net amount reclassified to earnings	4		9		—		(1)
Tax expense(2)	(1)		(3)		—		—
Total amount reclassified from Accumulated other comprehensive income (loss), net of tax(3)	3		6		—		(1)
Total Other comprehensive income (loss)	4		2		(10)		(14)
Balance at end of period	$	(5)	$	(16)	$	(5)	$	(16)

Accumulated other comprehensive loss	$	(1,850)	$	(2,111)	$	(1,850)	$	(2,111)

(1)These amounts were recorded in Restructuring and other charges (See Note D) and Other expense, net (See Note F) in the Statement of Consolidated Operations.

(2)These amounts were included in Provision for income taxes (See Note G) in the Statement of Consolidated Operations.

(3)A positive amount indicates a corresponding charge to earnings and a negative amount indicates a corresponding benefit to earnings.

(4)In all periods presented, no amounts were reclassified to earnings.

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Restricted cash	$ 1	$ 1
Carrying value
Derivative [Line Items]
Long-term debt	3,794	4,162
Fair value
Derivative [Line Items]
Long-term debt	$ 3,630	$ 4,059

Statement of Changes in Consolidated Equity (unaudited) - USD ($) $ in Millions	Total	Class A	Preferred stock	Common stock	Additional capital	Retained earnings	Retained earnings Class A	Accumulated other comprehensive loss
Beginning balance at Dec. 31, 2021	$ 3,508		$ 55	$ 422	$ 4,291	$ 603		$ (1,863)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	358					358
Other comprehensive loss (I)	(248)							(248)
Cash dividends declared:
Preferred		$ (2)					$ (2)
Common	(42)					(42)
Repurchase and retirement of common stock (H)	(335)			(10)	(325)
Stock-based compensation	43				43
Common stock issued: compensation plans	(9)			2	(11)
Ending balance at Sep. 30, 2022	3,273		55	414	3,998	917		(2,111)
Beginning balance at Jun. 30, 2022	3,421		55	416	4,079	863		(1,992)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	80					80
Other comprehensive loss (I)	(119)							(119)
Cash dividends declared:
Preferred		(1)					(1)
Common	(25)					(25)
Repurchase and retirement of common stock (H)	(100)			(3)	(97)
Stock-based compensation	14				14
Common stock issued: compensation plans	3			1	2
Ending balance at Sep. 30, 2022	3,273		55	414	3,998	917		(2,111)
Beginning balance at Dec. 31, 2022	3,601		55	412	3,947	1,028		(1,841)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	529					529
Other comprehensive loss (I)	(9)							(9)
Cash dividends declared:
Preferred		(2)					(2)
Common	(70)					(70)
Repurchase and retirement of common stock (H)	(150)			(3)	(147)
Stock-based compensation	39				39
Common stock issued: compensation plans	(66)			3	(69)
Ending balance at Sep. 30, 2023	3,872		55	412	3,770	1,485		(1,850)
Beginning balance at Jun. 30, 2023	3,775		55	412	3,782	1,334		(1,808)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	188					188
Other comprehensive loss (I)	(42)							(42)
Cash dividends declared:
Preferred		$ (1)					$ (1)
Common	(36)					(36)
Repurchase and retirement of common stock (H)	(25)				(25)
Stock-based compensation	13				13
Ending balance at Sep. 30, 2023	$ 3,872		$ 55	$ 412	$ 3,770	$ 1,485		$ (1,850)

Earnings Per Share and Common Stock

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Share and Common Stock

Basic earnings per share (“EPS”) amounts are computed by dividing earnings, after the deduction of preferred stock dividends declared, by the average number of common shares outstanding. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive share equivalents outstanding.

The information used to compute basic and diluted EPS attributable to Howmet common shareholders was as follows (shares in millions in the table below):


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022


Net income attributable to common shareholders	$	188	$	80	$	529	$	358
Less: preferred stock dividends declared	1		1		2		2
Net income available to Howmet Aerospace common shareholders - basic and diluted	$	187	$	79	$	527	$	356



Average shares outstanding - basic	412		415		412		417
Effect of dilutive securities:
Stock and performance awards	3		5		5		5


Average shares outstanding - diluted	415		420		417		422

Common stock outstanding as of September 30, 2023 and 2022 was approximately 412 million and 414 million, respectively.

On August 18, 2021, the Company announced that its Board of Directors authorized a share repurchase program of up to $1,500 of the Company's outstanding common stock. After giving effect to the share repurchases made through September 30, 2023, approximately $797 Board authorization remains available.

The following table provides details for share repurchases made for the periods presented:


	Number of shares	Average price per share(1)		Total
Q1 2023 open market repurchase	576,629	$	43.36	$	25

Q2 2023 open market repurchase	2,246,294	$	44.52	$	100

Q3 2023 open market repurchase	506,800	$	49.32	$	25

2023 Share repurchases as of September 30, 2023	3,329,723	$	45.05	$	150

Q1 2022 open market repurchase	5,147,307	$	34.00	$	175

Q2 2022 open market repurchase	1,770,271	$	33.89	$	60

Q3 2022 open market repurchase	2,764,846	$	36.17	$	100

2022 Share repurchases as of September 30, 2022	9,682,424	$	34.60	$	335

(1)Excludes commissions cost.

Under the Company’s share repurchase program (the “Share Repurchase Program”), the Company may repurchase shares by means of trading plans established from time to time in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, block trades, private transactions, open market repurchases and/or accelerated share repurchase agreements, or other derivative transactions. There is no stated expiration for the Share Repurchase Program. Under its Share Repurchase Program, the Company may repurchase shares from time to time, in amounts, at prices, and at such times as the Company deems appropriate, subject to market conditions, legal requirements and other considerations. The Company is not obligated to repurchase any specific number of shares or to do so at any particular time, and the Share Repurchase Program may be suspended, modified or terminated at any time without prior notice.

The approximately 3 million decrease in average shares outstanding (basic) for the third quarter of 2023 compared to the third quarter of 2022 was primarily due to the approximately 5 million shares repurchased between October 1, 2022 and September 30, 2023. As average shares outstanding are used in the calculation for both basic and diluted EPS, the full impact of share repurchases was not fully realized in EPS in the period of repurchase since share repurchases may occur at varying points during a period.

There were no shares relating to outstanding stock options excluded from the calculation of average shares outstanding - diluted for the third quarter and nine months ended September 30, 2023 and 2022.

Common stock dividends declared were $0.09 per share in the third quarter of 2023 (of which $0.04 per share was paid) and $0.17 per share in the nine months ended September 30, 2023 (of which $0.12 per share was paid). Common stock dividends declared were $0.06 per share in the third quarter of 2022 (of which $0.02 per share was paid) and $0.10 per share in the nine months ended September 30, 2022 (of which $0.06 per share was paid).

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provisions

The tax provision was comprised of the following:


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Pre-tax income at estimated annual effective income tax rate before discrete items	$	55	$	24	$	162	$	111
Impact of change in estimated annual effective tax rate on previous quarter’s pre-tax income	—		2		—		—
Interim period treatment of operational losses in foreign jurisdictions for which no tax benefit is recognized	—		—		1		—
Tax reserve (P)	—		—		20		—
Other discrete items	(1)		(2)		(7)		(11)
Provision for income taxes	$	54	$	24	$	176	$	100

Contingencies and Commitments (Details) € in Millions, $ in Millions		1 Months Ended				3 Months Ended				9 Months Ended
	Jun. 15, 2023 USD ($) installment	Jul. 31, 2024 USD ($)	Jul. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 EUR (€)	Jun. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) location	Sep. 30, 2022 USD ($)	Mar. 31, 2023 EUR (€)	Jun. 26, 2020 entity derivative
Loss Contingencies [Line Items]
Number of cleanup locations \| location										30
Remediation reserve balance					$ 16	$ 17				$ 17
Remediation reserve balance, classified as a current liability					6	6				6
Payments related to remediation expenses applied against the reserve						2			$ 1	4	$ 1
Income tax reserve						0			0	20	0
Judgement from legal proceedings				$ 74
Reversal of previously recorded litigation amount								$ 25		25
Guarantees of third party related to project financing						20				20
Combined fair value of guarantees					6	6				6
Coverage limit					80
Total amount committed under outstanding surety bonds						42				42
Surety bonds, amount outstanding						21				21
Bank Loan Obligations
Loss Contingencies [Line Items]
Letters of credit, total amount						116				116
Other Noncurrent Liabilities and Deferred Credits \| Separation Agreement
Loss Contingencies [Line Items]
Guarantees of third party related to project financing					$ 1,040	1,040				1,040
Lehman Brothers International (Europe) (“LBIE”) Claims
Loss Contingencies [Line Items]
Judgement from legal proceedings	$ 40
Number of entities \| entity													2
Number of derivative transactions \| derivative													2
Amount reserved									$ 65		$ 65
Number of installment payments \| installment	2
Payments for legal settlements			$ 15
Lehman Brothers International (Europe) (“LBIE”) Claims \| Subsequent Event \| Forecast
Loss Contingencies [Line Items]
Payments for legal settlements		$ 25
Foreign Tax Authority \| Ministry of the Economy, Finance and Industry, France \| Tax Years 2010 Through 2012
Loss Contingencies [Line Items]
Assessment amount				$ 19								€ 18
Income tax reserve						20	€ 19
Alcoa Corporation Workers Compensation Claims
Loss Contingencies [Line Items]
Letters of credit, total amount outstanding						52				52
Arconic Corporation Environmental Obligations
Loss Contingencies [Line Items]
Letters of credit, total amount outstanding						$ 17				$ 17
Maximum \| Recurring Costs of Managing Hazardous Substances and Environmental Programs
Loss Contingencies [Line Items]
Percentage of cost of goods sold (as a percent)										1.00%

Inventories (Tables)

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories Components


	September 30, 2023		December 31, 2022
Finished goods	$	446	$	490
Work-in-process	857		748
Purchased raw materials	378		317
Operating supplies	67		54
Total inventories	$	1,748	$	1,609

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2023	Oct. 31, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	1-3610
Entity Registrant Name	HOWMET AEROSPACE INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	25-0317820
Entity Address, Address Line One	201 Isabella Street, Suite 200
Entity Address, City or Town	Pittsburgh
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15212-5872
City Area Code	412
Local Phone Number	553-1940
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		411,744,354
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000004281
Current Fiscal Year End Date	--12-31
Common stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	HWM
Security Exchange Name	NYSE
Preferred stock
Entity Information [Line Items]
Title of 12(b) Security	$3.75 Cumulative Preferred Stock, par value $100.00 per share
Trading Symbol	HWM PR
Security Exchange Name	NYSEAMER

Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The carrying values of Cash and cash equivalents, restricted cash, derivatives, noncurrent receivables, and Short-term debt included in the Consolidated Balance Sheet approximate their fair value. The Company holds exchange-traded fixed income securities which are considered available-for-sale securities and are carried at fair value based on quoted market prices. The aforementioned securities are classified in Level 1 of the fair value hierarchy and are included in Other noncurrent assets in the Consolidated Balance Sheet. The fair value of Long-term debt was based on quoted market prices for public debt and on interest rates that are currently available to Howmet for issuance of debt with similar terms and maturities for non-public debt. The fair value amounts for all Long-term debt were classified in Level 2 of the fair value hierarchy.


	September 30, 2023				December 31, 2022
	Carrying value		Fair value		Carrying value		Fair value
Long-term debt	$	3,794	$	3,630	$	4,162	$	4,059

Restricted cash, which is included in Prepaid expenses and other current assets in the Consolidated Balance Sheet, was $1 as of both September 30, 2023 and December 31, 2022.

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Fair Values of Financial Instruments


	September 30, 2023				December 31, 2022
	Carrying value		Fair value		Carrying value		Fair value
Long-term debt	$	3,794	$	3,630	$	4,162	$	4,059

Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 28, 2023	Mar. 31, 2023	Jan. 31, 2023	Dec. 31, 2022	Jun. 30, 2022
Debt Instrument [Line Items]
Other	$ (11)				$ (19)
Total long-term debt	$ 3,794				4,162
5.125% Notes, due 2024
Debt Instrument [Line Items]
Long-term debt, interest rate (as a percent)	5.125%	5.125%	5.125%	5.125%		5.125%
Amount outstanding	$ 705				1,081
6.875% Notes, due 2025
Debt Instrument [Line Items]
Long-term debt, interest rate (as a percent)	6.875%
Amount outstanding	$ 600				600
5.900% Notes, due 2027
Debt Instrument [Line Items]
Long-term debt, interest rate (as a percent)	5.90%
Amount outstanding	$ 625				625
6.750% Bonds, due 2028
Debt Instrument [Line Items]
Long-term debt, interest rate (as a percent)	6.75%
Amount outstanding	$ 300				300
3.000% Notes, due 2029
Debt Instrument [Line Items]
Long-term debt, interest rate (as a percent)	3.00%
Amount outstanding	$ 700				700
5.950% Notes, due 2037
Debt Instrument [Line Items]
Long-term debt, interest rate (as a percent)	5.95%
Amount outstanding	$ 625				625
4.750% Iowa Finance Authority Loan, due 2042
Debt Instrument [Line Items]
Long-term debt, interest rate (as a percent)	4.75%
Amount outstanding	$ 250				$ 250

Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Accumulated Other Comprehensive Loss

The following table details the activity of the three components that comprise Accumulated other comprehensive loss:


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Pension and other postretirement benefits (E)
Balance at beginning of period	$	(644)	$	(767)	$	(653)	$	(799)
Other comprehensive income (loss):
Unrecognized net actuarial gain (loss) and prior service cost/benefit	7		(3)		7		13
Tax expense	(1)		—		(1)		(3)
Total Other comprehensive income (loss) before reclassifications, net of tax	6		(3)		6		10
Amortization of net actuarial loss and prior service cost(1)	5		13		17		38
Tax expense(2)	(1)		(3)		(4)		(9)
Total amount reclassified from Accumulated other comprehensive income, net of tax(3)	4		10		13		29
Total Other comprehensive income	10		7		19		39

Balance at end of period	$	(634)	$	(760)	$	(634)	$	(760)
Foreign currency translation
Balance at beginning of period	$	(1,155)	$	(1,207)	$	(1,193)	$	(1,062)


Other comprehensive loss(4)	(56)		(128)		(18)		(273)

Balance at end of period	$	(1,211)	$	(1,335)	$	(1,211)	$	(1,335)




Cash flow hedges
Balance at beginning of period	$	(9)	$	(18)	$	5	$	(2)

Other comprehensive income (loss):
Net change from periodic revaluations	1		(6)		(13)		(17)
Tax income	—		2		3		4
Total Other comprehensive income (loss) before reclassifications, net of tax	1		(4)		(10)		(13)
Net amount reclassified to earnings	4		9		—		(1)
Tax expense(2)	(1)		(3)		—		—
Total amount reclassified from Accumulated other comprehensive income (loss), net of tax(3)	3		6		—		(1)
Total Other comprehensive income (loss)	4		2		(10)		(14)
Balance at end of period	$	(5)	$	(16)	$	(5)	$	(16)

Accumulated other comprehensive loss	$	(1,850)	$	(2,111)	$	(1,850)	$	(2,111)

(1)These amounts were recorded in Restructuring and other charges (See Note D) and Other expense, net (See Note F) in the Statement of Consolidated Operations.

(2)These amounts were included in Provision for income taxes (See Note G) in the Statement of Consolidated Operations.

(3)A positive amount indicates a corresponding charge to earnings and a negative amount indicates a corresponding benefit to earnings.

(4)In all periods presented, no amounts were reclassified to earnings.

Inventories - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventories valued on a LIFO basis	$ 423	$ 441
Total inventories valued on an average-cost basis	$ 237	$ 220

Inventories

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

Inventories


	September 30, 2023		December 31, 2022
Finished goods	$	446	$	490
Work-in-process	857		748
Purchased raw materials	378		317
Operating supplies	67		54
Total inventories	$	1,748	$	1,609

As of September 30, 2023 and December 31, 2022, the portion of inventories valued on a last-in, first-out (“LIFO”) basis was $423 and $441, respectively. If valued on an average-cost basis, total inventories would have been $237 and $220 higher as of September 30, 2023 and December 31, 2022, respectively.

Earnings Per Share and Common Stock (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Reconciliation of Information Used to Compute Basic and Diluted EPS

The information used to compute basic and diluted EPS attributable to Howmet common shareholders was as follows (shares in millions in the table below):


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022


Net income attributable to common shareholders	$	188	$	80	$	529	$	358
Less: preferred stock dividends declared	1		1		2		2
Net income available to Howmet Aerospace common shareholders - basic and diluted	$	187	$	79	$	527	$	356



Average shares outstanding - basic	412		415		412		417
Effect of dilutive securities:
Stock and performance awards	3		5		5		5


Average shares outstanding - diluted	415		420		417		422

Schedule of Accelerated Share Repurchases

The following table provides details for share repurchases made for the periods presented:


	Number of shares	Average price per share(1)		Total
Q1 2023 open market repurchase	576,629	$	43.36	$	25

Q2 2023 open market repurchase	2,246,294	$	44.52	$	100

Q3 2023 open market repurchase	506,800	$	49.32	$	25

2023 Share repurchases as of September 30, 2023	3,329,723	$	45.05	$	150

Q1 2022 open market repurchase	5,147,307	$	34.00	$	175

Q2 2022 open market repurchase	1,770,271	$	33.89	$	60

Q3 2022 open market repurchase	2,764,846	$	36.17	$	100

2022 Share repurchases as of September 30, 2022	9,682,424	$	34.60	$	335

(1)Excludes commissions cost.

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsManagement evaluated all activity of Howmet and concluded that no subsequent events have occurred that would require recognition in the Consolidated Financial Statements or disclosure in the Notes to the Consolidated Financial Statements.

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The interim Consolidated Financial Statements of Howmet Aerospace Inc. and its subsidiaries (“Howmet” or the “Company” or “we” or “our”) are unaudited. These Consolidated Financial Statements include all adjustments, consisting only of normal recurring adjustments, considered necessary by management to fairly state the Company’s results of operations, financial position, and cash flows. The results reported in these Consolidated Financial Statements are not necessarily indicative of the results that may be expected for the entire year. The 2022 year-end balance sheet data was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). This Form 10-Q report should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2022 (the “Form 10-K”), which includes all disclosures required by GAAP. Certain amounts in previously issued financial statements were reclassified to conform to the current period presentation. In the third quarter of 2023, the Company derived approximately 49% of its revenue from products sold to the commercial aerospace market which is substantially less than the 2019 annual rate of approximately 60%. During the global COVID-19 pandemic and its impact on the commercial aerospace industry to date, there was a decrease in domestic and international air travel, which in turn adversely affected demand for narrow body and wide body aircraft. Domestic air travel has rebounded and exceeds 2019 levels. International air travel continues to recover and is approximately 90% of 2019 levels. We expect commercial aerospace growth to continue. The commercial wide body aircraft market is emerging but the mix of wide body to narrow body aircraft remains below 2019 levels, which is creating a shift in our product mix compared to 2019 conditions. In addition to the impact from the pandemic, the timing and level of future aircraft builds by original equipment manufacturers are subject to changes and uncertainties, which may cause our future results to differ from prior periods due to changes in product mix in certain segments. The preparation of the Consolidated Financial Statements of the Company in conformity with GAAP requires management to make certain judgments, estimates, and assumptions. These estimates are based on historical experience and, in some cases, assumptions based on current and future market experience, including considerations related to COVID-19 and changes in the aerospace industry. The impact of these changes, including the macroeconomic considerations, remains highly uncertain. Management has made its best estimates using all relevant information available at the time, but it is possible that our estimates will differ from our actual results and affect the Consolidated Financial Statements in future periods and potentially require adverse adjustments to the recoverability of goodwill, intangible and long-lived assets, the realizability of deferred tax assets and other judgments and estimations and assumptions.
Recently Adopted and Recently Issued Accounting Guidance	Recently Adopted and Recently Issued Accounting Guidance Adopted In September 2022, the Financial Accounting Standards Board (“FASB”) issued guidance to enhance the transparency of disclosures regarding supplier finance programs. These changes became effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. On January 1, 2023, the Company adopted the changes issued by the FASB related to disclosure requirements of supplier finance program obligations. We offer voluntary supplier finance programs to suppliers who may elect to sell their receivables to third parties at the sole discretion of both the suppliers and the third parties. The program is at no cost to the Company and provides additional liquidity to our suppliers, if they desire, at their cost. Under these programs, the Company pays the third party bank rather than the supplier, the stated amount of the confirmed invoices on the original maturity date of the invoices. The Company or the third party bank may terminate a program upon at least 30 days’ notice. Supplier invoices under the program require payment in full no more than 120 days of the invoice date. As of September 30, 2023 and December 31, 2022, supplier invoices that are subject to future payment under these programs were $254 and $240, respectively, and are included in Accounts payable, trade in the Consolidated Balance Sheet. Issued In March 2020, the FASB issued amendments that provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform, if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference London Inter-bank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued due to reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. In December 2022, the FASB deferred the sunset date to December 31, 2024. The Company has amended its agreements in accordance with the new guidance (See Note J and Note N). Management has concluded that the impact of these changes is not expected to have a material impact on the Consolidated Financial Statements.
Earnings Per Share	Basic earnings per share (“EPS”) amounts are computed by dividing earnings, after the deduction of preferred stock dividends declared, by the average number of common shares outstanding. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive share equivalents outstanding.

Income Taxes

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

The Company’s year-to-date tax provision is comprised of the most recent estimated annual effective tax rate applied to year-to-date pre-tax ordinary income. The tax impacts of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are recorded discretely in the interim period in which they occur. In addition, the tax provision is adjusted for the interim period impact of non-benefited pre-tax losses.

The estimated annual effective tax rate, before discrete items, applied to ordinary income was 23.0% in both the third quarter and nine months ended September 30, 2023 and 24.3% in both the third quarter and nine months ended September 30, 2022. The 2023 and 2022 rates were higher than the U.S. federal statutory rate of 21% primarily due to additional estimated U.S. tax on Global Intangible Low-Taxed Income (“GILTI”) and other foreign earnings, incremental state tax and foreign taxes on earnings also subject to U.S. federal income tax, and nondeductible expenses. Foreign earnings subject to tax in higher rate jurisdictions also contributed to the 2023 rate being higher than the U.S. federal statutory rate of 21%.

For the third quarter of 2023 and 2022, the tax rate including discrete items was 22.3% and 23.1%, respectively. In the third quarter of 2023, the Company recorded a discrete net tax benefit of $1 for other small items. In the third quarter of 2022, the Company recorded a discrete tax benefit of $2 for other small items.

For the nine months ended September 30, 2023 and 2022, the tax rate including discrete items was 25.0% and 21.8%, respectively. In the nine months ended September 30, 2023, the Company recorded a discrete net tax charge of $13 attributable to a $20 charge for a tax reserve established in France (See Note P) and a net tax charge of $1 for other small items, reduced by an $8 excess tax benefit for stock compensation. In the nine months ended September 30, 2022, the Company recorded a discrete tax benefit of $11 attributable to a $6 benefit to release a valuation allowance related to an interest carryforward tax attribute in the U.K. and a $5 excess benefit for stock compensation.

The tax provision was comprised of the following:


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Pre-tax income at estimated annual effective income tax rate before discrete items	$	55	$	24	$	162	$	111
Impact of change in estimated annual effective tax rate on previous quarter’s pre-tax income	—		2		—		—
Interim period treatment of operational losses in foreign jurisdictions for which no tax benefit is recognized	—		—		1		—
Tax reserve (P)	—		—		20		—
Other discrete items	(1)		(2)		(7)		(11)
Provision for income taxes	$	54	$	24	$	176	$	100

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Statement of Changes in Consolidated Equity (unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Common (in usd per share)	$ 0.09	$ 0.06	$ 0.17	$ 0.10
Class A
Preferred (in usd per share)	$ 0.9375	$ 0.9375	$ 2.8125	$ 2.8125

Other Expense, Net - Schedule of Other Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Other Income and Expenses [Abstract]
Non-service costs - pension and other postretirement benefits (E)	$ 7	$ 4	$ 22	$ 11
Interest income	(5)	(2)	(15)	(3)
Foreign currency losses (gains), net	5	(3)	3	(7)
Net realized and unrealized losses	6	5	17	12
Deferred compensation	(1)	(2)	5	(11)
Other, net	(1)	65	(27)	65
Total other expense, net	$ 11	$ 67	$ 5	$ 67

Segment Information - Segment Operating Profit to Consolidated Income before Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Segment operating profit	$ 307	$ 228	$ 877	$ 699
Loss on debt redemption	0	0	(1)	(2)
Interest expense, net	(54)	(57)	(166)	(172)
Other expense, net	(11)	(67)	(5)	(67)
Income before income taxes	242	104	705	458
Total segment
Segment Reporting Information [Line Items]
Segment operating profit	402	342	1,169	997
Segment provision for depreciation and amortization	(67)	(64)	(197)	(193)
Restructuring and other charges
Segment Reporting Information [Line Items]
Segment operating profit	(4)	(4)	(8)	(12)
Corporate expense
Segment Reporting Information [Line Items]
Segment operating profit	$ (24)	$ (46)	$ (87)	$ (93)

Recently Adopted and Recently Issued Accounting Guidance (Details) - USD ($) $ in Millions	Jan. 01, 2023	Sep. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Termination notice period (in days)	30 days
Payment timing (in days)	120 days
Supplier invoices subject to future payment		$ 254	$ 240

Restructuring and Other Charges - Activity and Reserve Balances for Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Reserve [Roll Forward]
Restructuring reserve beginning balance			$ 8
Cash payments			(4)
Restructuring charges	$ 4	$ 4	8	$ 12
Other			(6)
Restructuring reserve ending balance	6		6
Pension plan settlements	(2)	(3)	(5)	(7)
Accelerated depreciation	1	1	3	6
Pension benefits
Restructuring Reserve [Roll Forward]
Pension plan settlements	(2)	$ (3)	(5)	(7)
US \| Pension benefits
Restructuring Reserve [Roll Forward]
Pension plan settlements				$ (7)
Layoff costs
Restructuring Reserve [Roll Forward]
Restructuring reserve beginning balance			6
Cash payments			(2)
Restructuring charges			5
Other			(5)
Restructuring reserve ending balance	4		4
Other exit costs
Restructuring Reserve [Roll Forward]
Restructuring reserve beginning balance			2
Cash payments			(2)
Restructuring charges			3
Other			(1)
Restructuring reserve ending balance	$ 2		2
Accelerated depreciation			$ 1

Pension and Other Postretirement Benefits - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Settlements	$ 2	$ 3	$ 5	$ 7
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1	2	3
Interest cost	20	13	60	38
Expected return on plan assets	(18)	(20)	(55)	(61)
Recognized net actuarial (gain) loss	7	12	21	37
Settlements	2	3	5	7
Net periodic cost (benefit)	11	9	33	24
Other postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	1	0	1	1
Interest cost	2	1	5	3
Recognized net actuarial (gain) loss	(1)	0	(2)	1
Amortization of prior service benefit	(3)	(2)	(7)	(7)
Net periodic cost (benefit)	$ (1)	$ (1)	$ (3)	$ (2)

Statement of Consolidated Operations (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Sales (C)	$ 1,658	$ 1,433	$ 4,909	$ 4,150
Cost of goods sold (exclusive of expenses below)	1,183	1,056	3,543	2,993
Selling, general administrative, and other expenses	87	73	250	225
Research and development expenses	9	7	27	23
Provision for depreciation and amortization	68	65	204	198
Restructuring and other charges (D)	4	4	8	12
Operating income	307	228	877	699
Loss on debt redemption (N)	0	0	1	2
Interest expense, net	54	57	166	172
Other expense, net (F)	11	67	5	67
Income before income taxes	242	104	705	458
Provision for income taxes (G)	54	24	176	100
Net income	188	80	529	358
Amounts Attributable to Howmet Aerospace Common Shareholders (H):
Net income	187	79	527	356
Net income	$ 187	$ 79	$ 527	$ 356
Earnings per share:
Basic (in usd per share)	$ 0.45	$ 0.19	$ 1.28	$ 0.86
Diluted (in usd per share)	$ 0.45	$ 0.19	$ 1.27	$ 0.84
Average Shares Outstanding (H):
Basic (in shares)	412	415	412	417
Diluted (in shares)	415	420	417	422

Segment Information - Operating Results of Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Sales	$ 1,658	$ 1,433	$ 4,909	$ 4,150
Provision for depreciation and amortization	68	65	204	198
Restructuring and other charges	4	4	8	12
Capital expenditures	59	42	164	148
Third-party sales
Segment Reporting Information [Line Items]
Sales	1,658	1,433	4,909	4,150
Third-party sales \| Engine Products
Segment Reporting Information [Line Items]
Sales	798	683	2,414	1,966
Third-party sales \| Fastening Systems
Segment Reporting Information [Line Items]
Sales	348	291	989	832
Third-party sales \| Engineered Structures
Segment Reporting Information [Line Items]
Sales	227	193	634	560
Third-party sales \| Forged Wheels
Segment Reporting Information [Line Items]
Sales	285	266	872	792
Inter-segment sales
Segment Reporting Information [Line Items]
Sales	5	4	13	8
Inter-segment sales \| Engine Products
Segment Reporting Information [Line Items]
Sales	5	1	12	3
Inter-segment sales \| Fastening Systems
Segment Reporting Information [Line Items]
Sales	0	0	0	0
Inter-segment sales \| Engineered Structures
Segment Reporting Information [Line Items]
Sales	0	3	1	5
Inter-segment sales \| Forged Wheels
Segment Reporting Information [Line Items]
Sales	0	0	0	0
Total segment
Segment Reporting Information [Line Items]
Sales	1,663	1,437	4,922	4,158
Provision for depreciation and amortization	67	64	197	193
Segment Adjusted EBITDA	402	342	1,169	997
Restructuring and other charges	2	3	7	10
Capital expenditures	54	39	153	136
Total segment \| Engine Products
Segment Reporting Information [Line Items]
Sales	803	684	2,426	1,969
Provision for depreciation and amortization	33	31	97	93
Segment Adjusted EBITDA	219	186	654	538
Restructuring and other charges	0	2	(1)	9
Capital expenditures	30	23	84	74
Total segment \| Fastening Systems
Segment Reporting Information [Line Items]
Sales	348	291	989	832
Provision for depreciation and amortization	12	11	35	34
Segment Adjusted EBITDA	76	64	198	176
Restructuring and other charges	1	0	1	(3)
Capital expenditures	9	7	23	30
Total segment \| Engineered Structures
Segment Reporting Information [Line Items]
Sales	227	196	635	565
Provision for depreciation and amortization	12	12	36	36
Segment Adjusted EBITDA	30	28	80	77
Restructuring and other charges	1	1	7	4
Capital expenditures	6	3	21	12
Total segment \| Forged Wheels
Segment Reporting Information [Line Items]
Sales	285	266	872	792
Provision for depreciation and amortization	10	10	29	30
Segment Adjusted EBITDA	77	64	237	206
Restructuring and other charges	0	0	0	0
Capital expenditures	$ 9	$ 6	$ 25	$ 20

Leases

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Leases

Operating lease cost includes short-term leases and variable lease payments and approximates cash paid. Operating lease cost was $16 in both the third quarter of 2023 and 2022, and $48 and $46 in the nine months ended September 30, 2023 and 2022, respectively.

Operating lease right-of-use assets and lease liabilities in the Consolidated Balance Sheet were as follows:


	September 30, 2023		December 31, 2022
Right-of-use assets classified in Other noncurrent assets	$	112	$	111

Current portion of lease liabilities classified in Other current liabilities	$	32	$	32
Long-term portion of lease liabilities classified in Other noncurrent liabilities and deferred credits	83		83
Total lease liabilities	$	115	$	115

Property, Plant, and Equipment, net- Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Carrying value			$ 2,296		$ 2,332
Capital expenditures incurred but not yet paid			$ 44	$ 30
Disposed of by Sale \| Corporate Center
Property, Plant and Equipment [Line Items]
Proceeds from the sales of businesses	$ 44
Payment of transaction costs	$ 3
Loss on sale		$ 1
Purchaser lease term (in years)	12 years	12 years
Disposed of by Sale \| Corporate Center \| Structures
Property, Plant and Equipment [Line Items]
Carrying value	$ 41	$ 41

Consolidated Balance Sheet (unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Receivables from customers, allowances	$ 1	$ 1

Properties, Plants, and Equipment, net

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Properties, Plants, and Equipment, net


	September 30, 2023		December 31, 2022
Land and land rights	$	86	$	84
Structures	1,000		986
Machinery and equipment	4,002		3,941
	5,088		5,011
Less: accumulated depreciation and amortization	2,993		2,858
	2,095		2,153
Construction work-in-progress	201		179
Properties, plants, and equipment, net	$	2,296	$	2,332

The proceeds from the sale of the corporate headquarters in Pittsburgh, PA in June 2022 were $44, excluding $3 of transaction costs, and the carrying value at the time of sale was $41. A loss of less than $1 was recorded in Restructuring and other charges in the Statement of Consolidated Operations upon finalization of the sale in the second quarter of 2022. The Company entered into a 12-year lease with the purchaser for a portion of the property.

The Company incurred capital expenditures which remained unpaid as of September 30, 2023 and September 30, 2022 of $44 and $30, respectively, and will result in cash outflows within investing activities in the Statement of Consolidated Cash Flows in subsequent periods.

Properties, Plants, and Equipment, net- Schedule of Properties, Plants, and Equipment, Net (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 5,088	$ 5,011
Less: accumulated depreciation and amortization	2,993	2,858
Properties, plants and equipment excluding construction work in progress	2,095	2,153
Construction work-in-progress	201	179
Properties, plants, and equipment, net	2,296	2,332
Land and land rights
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	86	84
Structures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,000	986
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 4,002	$ 3,941

Pension and Other Postretirement Benefits - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Decrease in obligation, pension benefits	$ 19
Pension plan settlements		$ (2)	$ (3)	$ (5)	$ (7)
Contributions and payments		9	18	28	43
Pension benefits
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Benefit obligation		2		5
Pension plan settlements		(2)	(3)	(5)	(7)
Pension benefits \| US
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pension plan settlements					(7)
Pension benefits \| Canada
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Decrease in obligation, pension benefits		12		$ 12
Pension plan settlements		$ (2)
Pension benefits \| United States and Canada
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pension plan settlements			$ (3)		$ (7)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Debt

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Debt


	September 30, 2023		December 31, 2022



5.125% Notes, due 2024(1)	$	705	$	1,081
6.875% Notes, due 2025(1)	600		600
5.900% Notes, due 2027	625		625
6.750% Bonds, due 2028	300		300
3.000% Notes, due 2029	700		700
5.950% Notes, due 2037	625		625
4.750% Iowa Finance Authority Loan, due 2042	250		250
Other(2)	(11)		(19)


Total long-term debt	$	3,794	$	4,162

(1)The 5.125% Notes, due 2024 (the “5.125% Notes”) are due in October 2024 and the 6.875% Notes, due 2025 are due in May 2025.

(2)Includes various financing arrangements related to subsidiaries, unamortized debt discounts, and unamortized debt issuance costs related to outstanding notes and bonds listed in the table above.

Public Debt

In the second quarter of 2022, the Company repurchased in the open market approximately $60 aggregate principal amount of its 5.125% Notes and paid approximately $62, including an early termination premium of approximately $2, which was recorded in Loss on debt redemption in the Statement of Consolidated Operations.

In January 2023, the Company repurchased approximately $26 aggregate principal amount of its 5.125% Notes through an open market repurchase (“OMR”). The OMR was settled at slightly less than par.

In March 2023, the Company completed the early partial redemption of an additional $150 aggregate principal amount of its 5.125% Notes in accordance with the terms of the notes, and paid an aggregate of $155, including accrued interest and an early termination premium of approximately $4 and $1, respectively, which were recorded in Interest expense, net, and Loss on debt redemption, respectively, in the Statement of Consolidated Operations.

On September 28, 2023, the Company completed an early partial redemption of its outstanding 5.125% Notes in the aggregate principal amount of $200. Such 5.125% Notes were redeemed at par with cash on hand at an aggregate redemption price of approximately $205, including accrued interest of approximately $5.

Credit Facility

On July 27, 2023, the Company entered into the Second Amended and Restated Five-Year Revolving Credit Agreement (the “Credit Agreement”) by and among the Company, a syndicate of lenders and issuers named therein, Citibank, N.A., as administrative agent for the lenders and issuers, and JPMorgan Chase Bank, N.A., as syndication agent. The Credit Agreement amended and restated the Company’s Amended and Restated Five-Year Revolving Credit Agreement, dated as of September 28, 2021, as amended by Amendment No. 1 to Credit Agreement, dated as of February 13, 2023.

The Credit Agreement provides a $1,000 senior unsecured revolving credit facility (the “Credit Facility”) that matures on July 27, 2028, unless extended or earlier terminated in accordance with the provisions of the Credit Agreement. The Company may make two one-year extension requests during the term of the Credit Facility, with any extension being subject to the lender consent requirements set forth in the Credit Agreement. Subject to the terms and conditions of the Credit Agreement, the Company may from time to time request increases in commitments under the Credit Facility, not to exceed $500 in aggregate principal amount, and may also request the issuance of letters of credit, subject to a letter of credit sublimit of $500 of the Credit Facility. Under the provisions of the Credit Agreement, based on Howmet’s current long-term debt ratings, Howmet pays an annual fee of 0.175% of the total commitment to maintain the Credit Facility.

The Credit Facility is unsecured and amounts payable under it will rank pari passu with all other unsecured, unsubordinated indebtedness of the Company. Borrowings under the Credit Facility may be denominated in U.S. dollars or Euros. Loans will bear interest at a base rate or, in the case of U.S. dollar-denominated loans, a rate equal to the Term Secured Overnight Financing Rate (“SOFR”) plus adjustment or, in the case of euro-denominated loans, the Euro inter-bank offered rate (“EURIBOR”), plus, in each case, an applicable margin based on the credit ratings of the Company’s outstanding senior unsecured long-term debt. Based on the Company’s current long-term debt ratings, the applicable margin on base rate loans would be 0.325% per annum and the applicable margin on Term SOFR loans and EURIBOR loans would be 1.325% per annum. The applicable margin is subject to change based on the Company’s long-term debt ratings. Loans may be prepaid without premium or penalty, subject to customary breakage costs.

The obligation of the Company to pay amounts outstanding under the Credit Facility may be accelerated upon the occurrence of an “Event of Default” as defined in the Credit Agreement. Such Events of Default include, among others, (a) non-payment of obligations; (b) breach of any representation or warranty in any material respect; (c) non-performance of covenants and obligations; (d) with respect to other indebtedness in a principal amount in excess of $100, a default thereunder that causes such indebtedness to become due prior to its stated maturity or a default in the payment at maturity of any principal of such indebtedness; (e) the bankruptcy or insolvency of the Company; and (f) a change in control of the Company.

The Credit Agreement contains covenants, including, among others, (a) limitations on the Company’s ability to incur liens securing indebtedness for borrowed money; (b) limitations on the Company’s ability to consummate a consolidation, merger or sale of all or substantially all of its assets; (c) limitations on the Company’s ability to change the nature of its business; and (d) a limitation requiring the ratio of Consolidated Net Debt to Consolidated EBITDA (each as defined in the Credit Agreement) as of the end of each fiscal quarter for the period of the four fiscal quarters most recently ended, to be less than or equal to 3.75 to 1.00.

There were no amounts outstanding under the Credit Agreement as of September 30, 2023 or December 31, 2022, and no amounts were borrowed during 2023 or 2022 under the Credit Agreement. As of September 30, 2023, the Company was in compliance with all covenants under the Credit Agreement. Availability under the Credit Agreement could be reduced in future periods if the Company fails to maintain the required ratio referenced above.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Pension and Other Postretirement Benefits (Tables)

9 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

Schedule of Components of Net Periodic Benefit Cost

The components of net periodic cost (benefit) were as follows:


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Pension benefits
Service cost	$	—	$	1	$	2	$	3
Interest cost	20		13		60		38
Expected return on plan assets	(18)		(20)		(55)		(61)
Recognized net actuarial loss	7		12		21		37

Settlements	2		3		5		7


Net periodic cost(1)	$	11	$	9	$	33	$	24



Other postretirement benefits
Service cost	$	1	$	—	$	1	$	1
Interest cost	2		1		5		3
Recognized net actuarial (gain) loss	(1)		—		(2)		1
Amortization of prior service benefit	(3)		(2)		(7)		(7)


Net periodic benefit(1)	$	(1)	$	(1)	$	(3)	$	(2)

Receivables (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Feb. 17, 2023	Feb. 16, 2023	Dec. 31, 2022
Certain Customers
Schedule Of Financial Receivables [Line Items]
Accounts receivables sold	$ 140	$ 127	$ 429	$ 350
Accounts receivable remaining outstanding	134		134
Receivables Purchase Agreement
Schedule Of Financial Receivables [Line Items]
Accounts receivable securitization	250		250		$ 250	$ 325	$ 325
Accounts receivable securitization following a provision to increase the limit					$ 325
Accounts receivable securitization amount drawn	250		250				250
Financing receivables, held as collateral	164		164				$ 190
Accounts receivables sold	$ 439	$ 453	$ 1,158	$ 1,354

Earnings Per Share and Common Stock - Accelerated Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023
Earnings Per Share [Abstract]
Number of shares	506,800	2,246,294	576,629	2,764,846	1,770,271	5,147,307	3,329,723	9,682,424	5,000,000
Average price per share (in usd per share)	$ 49.32	$ 44.52	$ 43.36	$ 36.17	$ 33.89	$ 34.00	$ 45.05	$ 34.60
Total	$ 25	$ 100	$ 25	$ 100	$ 60	$ 175	$ 150	$ 335

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Receivables	9 Months Ended
Receivables	Sep. 30, 2023
Receivables [Abstract]
Receivables	Receivables Sale of Receivables Programs The Company maintains an accounts receivables securitization arrangement through a wholly-owned special purpose entity (“SPE”). The net cash funding from the sale of accounts receivable through the SPE was neither a use of cash nor a source of cash for the third quarter of 2023 or 2022. The accounts receivables securitization arrangement is one in which the Company, through an SPE, has a receivables purchase agreement (the “Receivables Purchase Agreement”) pursuant to which the SPE may sell certain receivables to financial institutions until the earlier of August 30, 2024 or a termination event. The Receivables Purchase Agreement contains customary representations and warranties, as well as affirmative and negative covenants. Pursuant to the Receivables Purchase Agreement, the Company does not maintain effective control over the transferred receivables, and therefore accounts for these transfers as sales of receivables. The Receivables Purchase Agreement was amended on February 17, 2023 to update the reference rate and reduce the facility limit to $250 from $325, with a provision to increase the limit to $325. The facility limit under the Receivables Purchase Agreement was $250 and $325 as of September 30, 2023 and December 31, 2022, respectively. A total of $250 was drawn as of both September 30, 2023 and December 31, 2022. As collateral against the sold receivables, the SPE maintains a certain level of unsold receivables, which were $164 and $190 as of September 30, 2023 and December 31, 2022, respectively. The Company sold $439 and $1,158 of its receivables without recourse and received cash funding under this program during the third quarter and nine months ended September 30, 2023, respectively, resulting in derecognition of the receivables from the Company’s Consolidated Balance Sheet. The Company sold $453 and $1,354 of its receivables without recourse and received cash funding under the program during the third quarter and nine months ended September 30, 2022, respectively, resulting in derecognition of the receivables from the Company’s Consolidated Balance Sheet. Costs associated with the sales of receivables are reflected in the Company’s Statement of Consolidated Operations for the periods in which the sales occur. Cash receipts from sold receivables under the Receivables Purchase Agreement are presented within operating activities in the Statement of Consolidated Cash Flows. Other Customer Receivable Sales In the third quarter and nine months ended September 30, 2023, the Company sold $140 and $429, respectively, of certain customers’ receivables in exchange for cash ($134 was outstanding from customers as of September 30, 2023), the proceeds from which are presented in changes in receivables within operating activities in the Statement of Consolidated Cash Flows. In the third quarter and nine months ended September 30, 2022, the Company sold $127 and $350 of certain customers’ receivables in exchange for cash, the proceeds from which are presented in changes in receivables within operating activities in the Statement of Consolidated Cash Flows.

- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481420/860-30-50-1A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(7)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-4

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)(4)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)(5)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//860/tableOfContent

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-3

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (cc)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-3

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(5)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-4

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-4

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4D
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-4D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481420/860-30-50-1A

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481420/860-30-50-7

Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-4

+ Details

Segment Information (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Operating Results of Arconic's Reportable Segments

The operating results of the Company’s reportable segments were as follows:


	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Third quarter ended September 30, 2023
Sales:
Third-party sales	$	798	$	348	$	227	$	285	$	1,658
Inter-segment sales	5		—		—		—		5
Total sales	$	803	$	348	$	227	$	285	$	1,663
Profit and loss:

Provision for depreciation and amortization	$	33	$	12	$	12	$	10	$	67
Segment Adjusted EBITDA	219		76		30		77		402
Restructuring and other charges	—		1		1		—		2
Capital expenditures	30		9		6		9		54

Third quarter ended September 30, 2022
Sales:
Third-party sales	$	683	$	291	$	193	$	266	$	1,433
Inter-segment sales	1		—		3		—		4
Total sales	$	684	$	291	$	196	$	266	$	1,437
Profit and loss:

Provision for depreciation and amortization	$	31	$	11	$	12	$	10	$	64
Segment Adjusted EBITDA	186		64		28		64		342
Restructuring and other charges	2		—		1		—		3
Capital expenditures	23		7		3		6		39

	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Nine months ended September 30, 2023
Sales:
Third-party sales	$	2,414	$	989	$	634	$	872	$	4,909
Inter-segment sales	12		—		1		—		13
Total sales	$	2,426	$	989	$	635	$	872	$	4,922
Profit and loss:

Provision for depreciation and amortization	$	97	$	35	$	36	$	29	$	197
Segment Adjusted EBITDA	654		198		80		237		1,169
Restructuring and other (credits) charges	(1)		1		7		—		7
Capital expenditures	84		23		21		25		153

Nine months ended September 30, 2022
Sales:
Third-party sales	$	1,966	$	832	$	560	$	792	$	4,150
Inter-segment sales	3		—		5		—		8
Total sales	$	1,969	$	832	$	565	$	792	$	4,158
Profit and loss:

Provision for depreciation and amortization	$	93	$	34	$	36	$	30	$	193
Segment Adjusted EBITDA	538		176		77		206		997
Restructuring and other charges (credits)	9		(3)		4		—		10
Capital expenditures	74		30		12		20		136

Schedule of Segment Reporting Information to Consolidated Income Before income Taxes

The following table reconciles Total Segment Adjusted EBITDA to Income before income taxes. Differences between the total segment and consolidated totals are in Corporate.


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Total Segment Adjusted EBITDA	$	402	$	342	$	1,169	$	997
Segment provision for depreciation and amortization	(67)		(64)		(197)		(193)
Unallocated amounts:
Restructuring and other charges	(4)		(4)		(8)		(12)
Corporate expense	(24)		(46)		(87)		(93)
Operating income	$	307	$	228	$	877	$	699
Loss on debt redemption	—		—		(1)		(2)
Interest expense, net	(54)		(57)		(166)		(172)
Other expense, net	(11)		(67)		(5)		(67)
Income before income taxes	$	242	$	104	$	705	$	458

Schedule of Reconciliation of Capital Expenditures from Segments to Consolidated

The following table reconciles total segment capital expenditures with Capital expenditures as presented in the Statement of Consolidated Cash Flows.


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Total segment capital expenditures	$	54	$	39	$	153	$	136
Corporate	5		3		11		12
Capital expenditures	$	59	$	42	$	164	$	148

Schedule of Disaggregation of Revenue by Major End Market Served

The following table disaggregates segment revenue by major market served. Differences between the total segment and consolidated totals are in Corporate.


	Engine Products		Fastening Systems		Engineered Structures		Forged Wheels		Total Segment
Third quarter ended September 30, 2023
Aerospace - Commercial	$	446	$	209	$	165	$	—	$	820
Aerospace - Defense	165		41		45		—		251
Commercial Transportation	—		67		—		285		352
Industrial and Other	187		31		17		—		235
Total end-market revenue	$	798	$	348	$	227	$	285	$	1,658

Third quarter ended September 30, 2022
Aerospace - Commercial	$	388	$	156	$	124	$	—	$	668
Aerospace - Defense	124		43		56		—		223
Commercial Transportation	—		63		—		266		329
Industrial and Other	171		29		13		—		213
Total end-market revenue	$	683	$	291	$	193	$	266	$	1,433

Nine months ended September 30, 2023
Aerospace - Commercial	$	1,324	$	563	$	458	$	—	$	2,345
Aerospace - Defense	502		131		131		—		764
Commercial Transportation	—		192		—		872		1,064
Industrial and Other	588		103		45		—		736
Total end-market revenue	$	2,414	$	989	$	634	$	872	$	4,909

Nine months ended September 30, 2022
Aerospace - Commercial	$	1,079	$	459	$	341	$	—	$	1,879
Aerospace - Defense	384		112		176		—		672
Commercial Transportation	—		169		—		792		961
Industrial and Other	503		92		43		—		638
Total end-market revenue	$	1,966	$	832	$	560	$	792	$	4,150

Segment Information - Disaggregation of Revenue by Major End Market Served (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue, Major Customer [Line Items]
Sales	$ 1,658	$ 1,433	$ 4,909	$ 4,150
Third-party sales
Revenue, Major Customer [Line Items]
Sales	1,658	1,433	4,909	4,150
Third-party sales \| Engine Products
Revenue, Major Customer [Line Items]
Sales	798	683	2,414	1,966
Third-party sales \| Fastening Systems
Revenue, Major Customer [Line Items]
Sales	348	291	989	832
Third-party sales \| Engineered Structures
Revenue, Major Customer [Line Items]
Sales	227	193	634	560
Third-party sales \| Forged Wheels
Revenue, Major Customer [Line Items]
Sales	285	266	872	792
Third-party sales \| Aerospace - Commercial
Revenue, Major Customer [Line Items]
Sales	820	668	2,345	1,879
Third-party sales \| Aerospace - Commercial \| Engine Products
Revenue, Major Customer [Line Items]
Sales	446	388	1,324	1,079
Third-party sales \| Aerospace - Commercial \| Fastening Systems
Revenue, Major Customer [Line Items]
Sales	209	156	563	459
Third-party sales \| Aerospace - Commercial \| Engineered Structures
Revenue, Major Customer [Line Items]
Sales	165	124	458	341
Third-party sales \| Aerospace - Commercial \| Forged Wheels
Revenue, Major Customer [Line Items]
Sales	0	0	0	0
Third-party sales \| Aerospace - Defense
Revenue, Major Customer [Line Items]
Sales	251	223	764	672
Third-party sales \| Aerospace - Defense \| Engine Products
Revenue, Major Customer [Line Items]
Sales	165	124	502	384
Third-party sales \| Aerospace - Defense \| Fastening Systems
Revenue, Major Customer [Line Items]
Sales	41	43	131	112
Third-party sales \| Aerospace - Defense \| Engineered Structures
Revenue, Major Customer [Line Items]
Sales	45	56	131	176
Third-party sales \| Aerospace - Defense \| Forged Wheels
Revenue, Major Customer [Line Items]
Sales	0	0	0	0
Third-party sales \| Commercial Transportation
Revenue, Major Customer [Line Items]
Sales	352	329	1,064	961
Third-party sales \| Commercial Transportation \| Engine Products
Revenue, Major Customer [Line Items]
Sales	0	0	0	0
Third-party sales \| Commercial Transportation \| Fastening Systems
Revenue, Major Customer [Line Items]
Sales	67	63	192	169
Third-party sales \| Commercial Transportation \| Engineered Structures
Revenue, Major Customer [Line Items]
Sales	0	0	0	0
Third-party sales \| Commercial Transportation \| Forged Wheels
Revenue, Major Customer [Line Items]
Sales	285	266	872	792
Third-party sales \| Industrial and Other
Revenue, Major Customer [Line Items]
Sales	235	213	736	638
Third-party sales \| Industrial and Other \| Engine Products
Revenue, Major Customer [Line Items]
Sales	187	171	588	503
Third-party sales \| Industrial and Other \| Fastening Systems
Revenue, Major Customer [Line Items]
Sales	31	29	103	92
Third-party sales \| Industrial and Other \| Engineered Structures
Revenue, Major Customer [Line Items]
Sales	17	13	45	43
Third-party sales \| Industrial and Other \| Forged Wheels
Revenue, Major Customer [Line Items]
Sales	$ 0	$ 0	$ 0	$ 0

Restructuring and Other Charges (Tables)

9 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Other Charges


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Layoff costs	$	1	$	—	$	1	$	—
Reversals of previously recorded layoff reserves	—		—		(1)		(1)
Pension and Other post-retirement benefits - net settlements (E)	2		3		5		7


Other	1		1		3		6
Total restructuring and other charges	$	4	$	4	$	8	$	12

Schedule of Activity and Reserve Balances for Restructuring Charges


	Layoff costs		Other exit costs		Total
Reserve balances at December 31, 2022	$	6	$	2	$	8
Cash payments	(2)		(2)		(4)
Restructuring charges	5		3		8
Other(1)	(5)		(1)		(6)
Reserve balances at September 30, 2023	$	4	$	2	$	6

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation (as a percent)	23.00%	24.30%	23.00%	24.30%
Effective income tax rate reconciliation, including discrete items (as a percent)	22.30%	23.10%	25.00%	21.80%
Charge (benefit) for other small items	$ (1)	$ (2)	$ 1
Discrete tax charge (benefit)			13	$ (11)
Income tax reserve	$ 0	$ 0	20	0
Tax charge (benefit) for stock compensation			$ (8)	(5)
Change in deferred tax assets valuation allowance				$ 6

Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule of Supplemental Balance Sheet Information Related to Leases

Operating lease right-of-use assets and lease liabilities in the Consolidated Balance Sheet were as follows:


	September 30, 2023		December 31, 2022
Right-of-use assets classified in Other noncurrent assets	$	112	$	111

Current portion of lease liabilities classified in Other current liabilities	$	32	$	32
Long-term portion of lease liabilities classified in Other noncurrent liabilities and deferred credits	83		83
Total lease liabilities	$	115	$	115

Inventories - Inventories Components (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 446	$ 490
Work-in-process	857	748
Purchased raw materials	378	317
Operating supplies	67	54
Total inventories	$ 1,748	$ 1,609

Income Taxes - Income Tax Provisions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Pre-tax income at estimated annual effective income tax rate before discrete items	$ 55	$ 24	$ 162	$ 111
Impact of change in estimated annual effective tax rate on previous quarter’s pre-tax income	0	2	0	0
Interim period treatment of operational losses in foreign jurisdictions for which no tax benefit is recognized	0	0	1	0
Tax reserve (P)	0	0	20	0
Other discrete items	(1)	(2)	(7)	(11)
Provision for income taxes	$ 54	$ 24	$ 176	$ 100

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Segment Information - Reconciliation of Capital Expenditures (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Capital expenditures	$ 59	$ 42	$ 164	$ 148
Total segment
Segment Reporting Information [Line Items]
Capital expenditures	54	39	153	136
Corporate
Segment Reporting Information [Line Items]
Capital expenditures	$ 5	$ 3	$ 11	$ 12

Contingencies and Commitments	9 Months Ended
Contingencies and Commitments	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	Contingencies and Commitments Contingencies The following information supplements and, as applicable, updates the discussion of the contingencies and commitments in Note V to the Consolidated Financial Statements in our Form 10-K, and should be read in conjunction with the complete descriptions provided in the Form 10-K. Environmental Matters. Howmet participates in environmental assessments and cleanups at more than 30 locations. These include owned or operating facilities and adjoining properties, previously owned or operated facilities and adjoining properties, and waste sites, including Superfund (Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”)) sites. A liability is recorded for environmental remediation when a cleanup program becomes probable and the costs can be reasonably estimated. As assessments and cleanups proceed, the liability is adjusted based on progress made in determining the extent of remedial actions and related costs. The liability can change substantially due to factors such as the nature and extent of contamination, changes in remedial requirements, and technological changes, among others. The Company’s remediation reserve balance was $17 and $16 as of September 30, 2023 and December 31, 2022, respectively, and was recorded in Other noncurrent liabilities and deferred credits in the Consolidated Balance Sheet (of which $6 was classified as a current liability for both periods), and reflects the most probable costs to remediate identified environmental conditions for which costs can be reasonably estimated. Payments related to remediation expenses applied against the reserve were $2 and less than $1 in the third quarter of 2023 and 2022, respectively, and $4 and $1 in the nine months ended September 30, 2023 and 2022, respectively, and included expenditures currently mandated, as well as those not required by any regulatory authority or third party. Included in annual operating expenses are the recurring costs of managing hazardous substances and environmental programs. These costs are estimated to be less than 1% of Cost of goods sold. Tax. In December 2013 and 2014, the Company received audit assessment notices from the French Tax Authority (“FTA”) for the 2010 through 2012 tax years. In 2016, the Company appealed to the Committee of the Abuse of Tax Law, where it received a favorable nonbinding decision. The FTA disagreed with the Committee of the Abuse of Tax Law’s opinion, and the Company appealed to the Montreuil Administrative Court, where in 2020 the Company prevailed on the merits. The FTA appealed this decision to the Paris Administrative Court of Appeal in 2021. On March 31, 2023, the Company received an adverse decision from the Paris Administrative Court of Appeal. The Company estimates the assessment amount to be $19 (€18), including interest and penalties. In the second quarter of 2023, the Company filed an appeal to the French Administrative Supreme Court. As a result of the adverse decision from the Paris Administrative Court of Appeal, the Company has concluded that it is no longer more likely than not to sustain its position. Through the third quarter of 2023, the Company recorded an income tax reserve in Provision for income taxes in the Statement of Consolidated Operations of $20 (€19), which includes estimated interest and penalties, for the 2010 through 2012 tax years, as well as the remaining tax years open for reassessment. In accordance with FTA dispute resolution practices, the Company is expecting that a payment to the FTA will be necessary in 2023. If an appeal to the French Administrative Supreme Court is successful, any payment would be refunded with interest. Indemnified Matters. The Separation and Distribution Agreement, dated October 31, 2016, that the Company entered into with Alcoa Corporation in connection with its separation from Alcoa Corporation, provides for cross-indemnities between the Company and Alcoa Corporation for claims subject to indemnification. The Separation and Distribution Agreement, dated March 31, 2020, that the Company entered into with Arconic Corporation in connection with its separation from Arconic Corporation, provides for cross-indemnities between the Company and Arconic Corporation for claims subject to indemnification. Among other claims that are covered by these indemnities, Arconic Corporation indemnifies the Company (f/k/a Arconic Inc. and f/k/a Alcoa Inc.) for all potential liabilities associated with the fire that occurred at the Grenfell Tower in London, U.K. on June 14, 2017, including the following legal proceedings, as updated from the Form 10-K: United Kingdom Litigation (various claims on behalf of survivors and estates of decedents). The substantial majority of these suits were settled pursuant to the terms of a confidential settlement agreement and are now discontinued and closed. Those suits that have not been settled are stayed until the next case management conference, which will be heard on November 15, 2023. Behrens et al. v. Arconic Inc. et al. (various claims on behalf of survivors and estates of decedents). On September 16, 2020, the court dismissed the U.S. case, determining that the U.K. is the appropriate jurisdiction for the case. On July 8, 2022, the Third Circuit Court of Appeals affirmed the dismissal, and, on October 7, 2022, the Third Circuit Court denied a petition for a rehearing. On January 5, 2023, the plaintiffs filed a petition for a writ of certiorari in the U.S. Supreme Court, which the Supreme Court denied on February 21, 2023. This case is dismissed and closed. Howard v. Arconic Inc. et al. (securities law related claims). On February 3, 2023, the court issued an order referring the case to mediation. In March 2023, following successive mediation sessions, the parties reached a settlement in principle that was subject to court approval and, among other things, is in the amount of $74 and is to be covered by insurance proceeds, in exchange for the dismissal of the action and a release of all claims against the defendants. The settlement is without admission of fault or wrongdoing by the defendants. Plaintiffs filed the Stipulation of Settlement, a motion to preliminarily approve the settlement, and related papers with the court on April 21, 2023. On May 2, 2023, the court issued an order granting plaintiffs’ motion to preliminarily approve the settlement. On August 9, 2023, the court granted final approval of the settlement. This case is dismissed and closed. Raul v. Albaugh, et al. (derivative related claim). The Raul case had been stayed until the final resolution of the Howard case and the regulatory investigations in the U.K. Following the final approval of the settlement and closure of the Howard case on August 9, 2023, the court in the Raul case ordered the parties to file joint status reports on September 12, 2023 and September 20, 2023. On September 19, 2023 and October 19, 2023, the parties filed joint status reports stating that they are exploring whether a resolution of the action may be possible and that if a resolution is not reached, defendants are prepared to move the court for an order lifting the stay so that they may move to dismiss the action. With respect to the regulatory investigations and the stockholder demands specified in the Form 10-K, there are no updates. Lehman Brothers International (Europe) (“LBIE”) Legal Proceeding. On June 26, 2020, Lehman Brothers International (Europe) (“LBIE”) filed proceedings in the High Court of Justice, Business and Property Courts of England and Wales (the “Court”) against two subsidiaries of the Company, FR Acquisitions Corporation (Europe) Ltd and JFB Firth Rixson Inc. (collectively, the “Firth Rixson Entities”). The proceedings concerned two interest rate swap transactions that the Firth Rixson Entities entered into with LBIE in 2007 and 2008. As a result of the ruling issued by the Court in October 2022, the Company recorded $65 in Other current liabilities in the Consolidated Balance Sheet and took a pre-tax charge of this amount in Other expense, net in the Statement of Consolidated Operations in the third quarter of 2022. The Firth Rixson Entities appealed the Court’s ruling, and the appeal was to be addressed at a hearing before the English Court of Appeal in June 2023 (the “Litigation”). On June 15, 2023, the Company, the Firth Rixson Entities, and LBIE reached a full and final settlement of all claims arising out of the Litigation (the “Settlement”). The Settlement provides for a payment of $40 to be paid to LBIE in two installments: $15 paid in July 2023 and $25 payable in July 2024. As a result of the Settlement, $25 of the amount previously recorded for the Litigation as a pre-tax charge in Other expense, net was reversed as a credit to Other expense, net in the Company’s second quarter 2023 results. The hearing before the English Court of Appeal was accordingly vacated. Other. In addition to the matters discussed above, various other lawsuits, claims, and proceedings have been or may be instituted or asserted against the Company, including those pertaining to environmental, product liability, safety and health, employment, tax and antitrust matters. While the amounts claimed in these other matters may be substantial, the ultimate liability cannot currently be determined because of the considerable uncertainties that exist. Therefore, it is possible that the Company’s liquidity or results of operations in a period could be materially affected by one or more of these other matters. However, based on facts currently available, management believes that the disposition of these other matters that are pending or asserted will not have a material adverse effect, individually or in the aggregate, on the results of operations, financial position or cash flows of the Company. Commitments Guarantees As of September 30, 2023, Howmet had outstanding bank guarantees related to a European energy supply contract, tax matters, and customs duties, among others. The total amount committed under these guarantees, which expire at various dates between 2023 and 2040, was $20 as of September 30, 2023. Pursuant to the Separation and Distribution Agreement, dated as of October 31, 2016, between Howmet and Alcoa Corporation, Howmet was required to provide certain guarantees for Alcoa Corporation, which had a fair value of $6 as of both September 30, 2023 and December 31, 2022, and were included in Other noncurrent liabilities and deferred credits in the Consolidated Balance Sheet. The remaining guarantee, for which the Company and Arconic Corporation are secondarily liable in the event of a payment default by Alcoa Corporation, relates to a long-term energy supply agreement that expires in 2047 at an Alcoa Corporation facility. The Company currently views the risk of an Alcoa Corporation payment default on its obligations under the contract to be remote. The Company and Arconic Corporation are required to provide a guarantee up to an estimated present value amount of approximately $1,040 as of both September 30, 2023 and December 31, 2022 in the event of an Alcoa Corporation default. In December 2022, a surety bond with a limit of $80 relating to this guarantee was obtained by Alcoa Corporation to protect Howmet’s obligation. This surety bond will be renewed on an annual basis by Alcoa Corporation. Letters of Credit The Company has outstanding letters of credit primarily related to workers’ compensation, environmental obligations, and insurance obligations, among others. The total amount committed under these letters of credit, which automatically renew or expire at various dates, primarily in 2023 and 2024, was $116 as of September 30, 2023. Pursuant to the Separation and Distribution Agreements between the Company and Arconic Corporation and between the Company and Alcoa Corporation, the Company is required to retain letters of credit of $52 (which are included in the $116 in the above paragraph) that had previously been provided related to the Company, Arconic Corporation, and Alcoa Corporation workers’ compensation claims that occurred prior to the respective separation transactions of April 1, 2020 and November 1, 2016. Arconic Corporation and Alcoa Corporation workers’ compensation and letters of credit fees paid by the Company are proportionally billed to, and are reimbursed by, Arconic Corporation and Alcoa Corporation, respectively. Also, the Company was required to provide letters of credit for certain Arconic Corporation environmental obligations and, as a result, the Company has $17 of outstanding letters of credit relating to such liabilities (which are also included in the $116 in the above paragraph). Surety Bonds The Company has outstanding surety bonds primarily related to tax matters, contract performance, workers’ compensation, environmental-related matters, energy contracts, and customs duties. The total amount committed under these annual surety bonds, which automatically renew or expire at various dates, primarily in 2023 and 2024, was $42 as of September 30, 2023. Pursuant to the Separation and Distribution Agreements between the Company and Arconic Corporation and between the Company and Alcoa Corporation, the Company is required to provide surety bonds of $21 (which are included in the $42 in the above paragraph) that had previously been provided related to the Company, Arconic Corporation, and Alcoa Corporation workers’ compensation claims that occurred prior to the respective separation transactions of April 1, 2020 and November 1, 2016. Arconic Corporation and Alcoa Corporation workers’ compensation claims and surety bond fees paid by the Company are proportionately billed to, and are reimbursed by, Arconic Corporation and Alcoa Corporation.

Restructuring and Other Charges - Restructuring and Other Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Layoff costs	$ 1	$ 0	$ 1	$ 0
Reversals of previously recorded layoff reserves	0	0	(1)	(1)
Pension and Other post-retirement benefits - net settlements (E)	2	3	5	7
Other	1	1	3	6
Total restructuring and other charges	$ 4	$ 4	$ 8	$ 12

Consolidated Balance Sheet (unaudited) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 424	$ 791
Receivables from customers, less allowances of $1 in both 2023 and 2022 (J)	714	506
Other receivables	13	31
Inventories (K)	1,748	1,609
Prepaid expenses and other current assets	212	206
Total current assets	3,111	3,143
Properties, plants, and equipment, net (L)	2,296	2,332
Goodwill	4,007	4,013
Deferred income taxes	45	54
Intangibles, net	507	521
Other noncurrent assets (M)	200	192
Total assets	10,166	10,255
Current liabilities:
Accounts payable, trade (B)	894	962
Accrued compensation and retirement costs	240	195
Taxes, including income taxes (G)	73	48
Accrued interest payable	58	75
Other current liabilities (M)(P)	189	202
Total current liabilities	1,454	1,482
Long-term debt (N)(O)	3,794	4,162
Accrued pension benefits (E)	618	633
Accrued other postretirement benefits (E)	98	109
Other noncurrent liabilities and deferred credits (M)	330	268
Total liabilities	6,294	6,654
Contingencies and commitments (P)
Howmet Aerospace shareholders’ equity:
Preferred stock	55	55
Common stock	412	412
Additional capital	3,770	3,947
Retained earnings	1,485	1,028
Accumulated other comprehensive loss (I)	(1,850)	(1,841)
Total equity	3,872	3,601
Total liabilities and equity	$ 10,166	$ 10,255

Segment Information - Narrative (Details) - segment	9 Months Ended
Segment Information - Narrative (Details) - segment	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Number of reportable segments	4
Revenue Benchmark \| Customer Concentration Risk \| Aerospace
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	63.00%	61.00%
Revenue Benchmark \| Customer Concentration Risk \| Aerospace \| General Electric Company \| Engine Products
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	13.00%	13.00%
Revenue Benchmark \| Customer Concentration Risk \| Aerospace \| RTX Corporation \| Engine Products
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	10.00%	9.00%

Other Expense, Net

9 Months Ended

Sep. 30, 2023

Other Income and Expenses [Abstract]

Other Expense, Net


	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Non-service costs - pension and other postretirement benefits (E)	$	7	$	4	$	22	$	11
Interest income	(5)		(2)		(15)		(3)
Foreign currency losses (gains), net	5		(3)		3		(7)
Net realized and unrealized losses	6		5		17		12

Deferred compensation	(1)		(2)		5		(11)
Other, net	(1)		65		(27)		65
Total other expense, net	$	11	$	67	$	5	$	67

In the nine months ended September 30, 2023, Other, net primarily includes the reversal of $25, net of legal fees of $1, of the $65 pre-tax charge taken in the third quarter of 2022 related to the Lehman Brothers International (Europe) legal proceeding (See Note P) due to the final settlement of such proceeding in June 2023.

Properties, Plants, and Equipment, net (Tables)

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Schedule of Properties, Plants, and Equipment, Net


	September 30, 2023		December 31, 2022
Land and land rights	$	86	$	84
Structures	1,000		986
Machinery and equipment	4,002		3,941
	5,088		5,011
Less: accumulated depreciation and amortization	2,993		2,858
	2,095		2,153
Construction work-in-progress	201		179
Properties, plants, and equipment, net	$	2,296	$	2,332

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease expense	$ 16	$ 16	$ 48	$ 46

Debt - Public Debt (Details) - USD ($) $ in Millions		1 Months Ended		3 Months Ended	9 Months Ended
Debt - Public Debt (Details) - USD ($) $ in Millions	Sep. 28, 2023	Mar. 31, 2023	Jan. 31, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Payment for early redemption of debt					$ 1	$ 2
5.125% Notes, due 2024
Debt Instrument [Line Items]
Early redemption of debt	$ 200		$ 26	$ 60
Long-term debt, interest rate (as a percent)	5.125%	5.125%	5.125%	5.125%	5.125%
Repayments of debt		$ 155		$ 62
Interest expense		4		$ 2
Payment for early redemption of debt		150
Early termination premium		$ 1
Redemption price, amount	$ 205
Accrued interest	$ 5

Other Expense, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Sep. 30, 2022	Sep. 30, 2023
Loss Contingencies [Line Items]
Reversal of previously recorded litigation amount	$ 25		$ 25
Legal fees			$ 1
Lehman Brothers International (Europe) (“LBIE”) Claims
Loss Contingencies [Line Items]
Loss contingency, provision		$ 65