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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549 
FORM 10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended September 30, 2021
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File Number 1-3610
HOWMET AEROSPACE INC.
(Exact name of registrant as specified in its charter)
Delaware25-0317820
(State of incorporation)  (I.R.S. Employer Identification No.)

201 Isabella Street, Suite 200, Pittsburgh, Pennsylvania 15212-5872
(Address of principal executive offices)      (Zip code)

Investor Relations 412-553-1950
Office of the Secretary 412-553-1940
(Registrant’s telephone number including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading SymbolName of each exchange on which registered 
Common Stock, par value $1.00 per shareHWMNew York Stock Exchange
$3.75 Cumulative Preferred Stock,
par value $100.00 per share
HWM PRNYSE American
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes      No     
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes      No      
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
x
Accelerated filer
Non-accelerated filer
Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes     No  x
As of November 1, 2021, there were 427,217,982 shares of common stock, par value $1.00 per share, of the registrant outstanding.







TABLE OF CONTENTS 
  Page
Part I
Item 1.
Item 2.
Item 3.
Item 4.
Part II
Item 1.
Item 1A.
Item 2.
Item 6.




PART I – FINANCIAL INFORMATION
Item 1. Financial Statements.
Howmet Aerospace Inc. and subsidiaries
Statement of Consolidated Operations (unaudited)
(U.S. dollars in millions, except per-share amounts)
Third quarter endedNine months ended
 September 30,September 30,
 2021202020212020
Sales (D)
$1,283 $1,134 $3,687 $4,021 
Cost of goods sold (exclusive of expenses below)928 900 2,658 3,006 
Selling, general administrative, and other expenses70 66 190 219 
Research and development expenses4 5 13 13 
Provision for depreciation and amortization68 68 203 212 
Restructuring and other charges (E)
8 22 22 166 
Operating income205 73 601 405 
Loss on debt redemption (O)
118  141 64 
Interest expense, net63 77 201 241 
Other expense, net (F)
1 8 13  
Income (loss) before income taxes23 (12)246 100 
(Benefit) provision for income taxes (H)
(4)(48)65 (5)
Income from continuing operations after income taxes $27 $36 $181 $105 
Income from discontinued operations after income taxes (B)
   50 
Net income$27 $36 $181 $155 
Amounts Attributable to Howmet Aerospace Common Shareholders (I):
Net income$26 $35 $179 $153 
Earnings per share - basic
Continuing operations$0.06 $0.08 $0.42 $0.24 
Discontinued operations$ $ $ $0.11 
Earnings per share - diluted
Continuing operations$0.06 $0.08 $0.41 $0.23 
Discontinued operations$ $ $ $0.11 
Average Shares Outstanding (I):
Average shares outstanding - basic429 436 431 436 
Average shares outstanding - diluted434 439 437 440 
The accompanying notes are an integral part of the consolidated financial statements.

3


Howmet Aerospace Inc. and subsidiaries
Statement of Consolidated Comprehensive Income (unaudited)
(U.S. dollars in millions)
Third quarter endedNine months ended
 September 30,September 30,
2021202020212020
Net income$27 $36 $181 $155 
Other comprehensive income (loss), net of tax (J):
Change in unrecognized net actuarial loss and prior service cost related to pension and other postretirement benefits13 8 90 54 
Foreign currency translation adjustments (36)48 (62)(25)
Net change in unrecognized (losses) gains on cash flow hedges(4)5 4 1 
Total other comprehensive (loss) income, net of tax (27)61 32 30 
Comprehensive income$ $97 $213 $185 
The accompanying notes are an integral part of the consolidated financial statements.
4


Howmet Aerospace Inc. and subsidiaries
Consolidated Balance Sheet (unaudited)
(U.S. dollars in millions)
September 30, 2021December 31, 2020
Assets
Current assets:
Cash and cash equivalents$724 $1,610 
Receivables from customers, less allowances of $ in 2021 and $1 in 2020 (K)
408 328 
Other receivables (K)
57 29 
Inventories (L)
1,420 1,488 
Prepaid expenses and other current assets211 217 
Total current assets2,820 3,672 
Properties, plants, and equipment, net (M)
2,483 2,592 
Goodwill (D)
4,077 4,102 
Deferred income taxes202 272 
Intangibles, net554 571 
Other noncurrent assets (N)
221 234 
Total assets$10,357 $11,443 
Liabilities
Current liabilities:
Accounts payable, trade$646 $599 
Accrued compensation and retirement costs202 205 
Taxes, including income taxes77 102 
Accrued interest payable68 89 
Other current liabilities (N)
201 289 
Short-term debt (O)
14 376 
Total current liabilities1,208 1,660 
Long-term debt, less amount due within one year (O and P)
4,272 4,699 
Accrued pension benefits (G)
847 985 
Accrued other postretirement benefits (G)
154 198 
Other noncurrent liabilities and deferred credits (N)
297 324 
Total liabilities6,778 7,866 
Contingencies and commitments (R)
Equity
Howmet Aerospace shareholders’ equity:
Preferred stock55 55 
Common stock428 433 
Additional capital4,473 4,668 
Retained earnings534 364 
Accumulated other comprehensive loss (J)
(1,911)(1,943)
Total equity3,579 3,577 
Total liabilities and equity$10,357 $11,443 
The accompanying notes are an integral part of the consolidated financial statements.
5


Howmet Aerospace Inc. and subsidiaries
Statement of Consolidated Cash Flows (unaudited)
(U.S. dollars in millions)
Nine months ended
 September 30,
 20212020
Operating activities
Net income$181 $155 
Adjustments to reconcile net income to cash provided from (used for) operations:
Depreciation and amortization203 271 
Deferred income taxes24 25 
Restructuring and other charges22 148 
Net loss from investing activities—asset sales7 6 
Net periodic pension cost (G)
13 42 
Stock-based compensation28 35 
Loss on debt redemption (O)
141 64 
Other28 (1)
Changes in assets and liabilities, excluding effects of acquisitions, divestitures, and foreign currency translation adjustments:
Increase in receivables (K)
(382)(117)
Decrease (increase) in inventories49 (42)
Decrease in prepaid expenses and other current assets6 1 
Increase (decrease) in accounts payable, trade (A)
63 (439)
Decrease in accrued expenses (121)(177)
(Decrease) increase in taxes, including income taxes(15)41 
Pension contributions (68)(110)
Increase in noncurrent assets(1)(5)
Decrease in noncurrent liabilities(32)(39)
Cash provided from (used for) operations146 (142)
Financing Activities
Net change in short-term borrowings (original maturities of three months or less) (8)
Additions to debt (original maturities greater than three months) (B)(O)
700 2,400 
Payments on debt (original maturities greater than three months) (O)
(1,491)(2,041)
Debt issuance costs (B)(O)
(11)(61)
Premiums paid on early redemption of debt (O)
(133)(59)
Proceeds from exercise of employee stock options17 30 
Dividends paid to shareholders(11)(10)
Repurchase of common stock(225)(51)
Net cash transferred to Arconic Corporation at separation (B)
 (500)
Other(20)(39)
Cash used for financing activities(1,174)(339)
Investing Activities
Capital expenditures (A)(D)
(138)(220)
Proceeds from the sale of assets and businesses (B)(Q)
8 114 
Sale of debt securities5  
Cash receipts from sold receivables (K)
267 258 
Other2  
Cash provided from investing activities144 152 
Effect of exchange rate changes on cash, cash equivalents and restricted cash(1)(6)
Net change in cash, cash equivalents and restricted cash (885)(335)
Cash, cash equivalents and restricted cash at beginning of period 1,611 1,703 
Cash, cash equivalents and restricted cash at end of period$726 $1,368 
The accompanying notes are an integral part of the consolidated financial statements.
6


Howmet Aerospace Inc. and subsidiaries
Statement of Changes in Consolidated Equity (unaudited)
(U.S. dollars in millions, except per-share amounts)
 Howmet Aerospace Shareholders 
 Preferred
stock
Common
stock
Additional
capital
Retained earningsAccumulated
other
comprehensive
loss
Noncontrolling interestsTotal
Equity
Balance at June 30, 2020$55 $436 $4,703 $223 $(1,968)$ $3,449 
Net income— — — 36 — — 36 
Other comprehensive income (J)
— — — — 61 — 61 
Cash dividends declared:
Preferred-Class A @ $0.9375 per share
— — — (1)— — (1)
Repurchase and retirement of common stock— (2)(49)— — — (51)
Stock-based compensation — — 12 — — — 12 
Common stock issued: compensation plans — — (5)— — — (5)
Distributions to Arconic Corporation (B)
— — 22 — (22)—  
Balance at September 30, 2020$55 $434 $4,683 $258 $(1,929)$ $3,501 
 Howmet Aerospace Shareholders 
 Preferred
stock
Common
stock
Additional
capital
Retained earningsAccumulated
other
comprehensive
loss
Total
Equity
Balance at June 30, 2021$55 $429 $4,481 $517 $(1,884)$3,598 
Net income— — — 27 — 27 
Other comprehensive income (J)
— — — — (27)(27)
Cash dividends declared:
Preferred-Class A @ $0.9375 per share
— — — (1)— (1)
Common @ $0.02 per share
— — — (9)— (9)
Repurchase and retirement of common stock— (1)(24)— — (25)
Stock-based compensation — — 14 — — 14 
Common stock issued: compensation plans — — 2 — — 2 
Balance at September 30, 2021$55 $428 $4,473 $534 $(1,911)$3,579 

The accompanying notes are an integral part of the consolidated financial statements.
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Howmet Aerospace Inc. and subsidiaries
Statement of Changes in Consolidated Equity (unaudited)
(U.S. dollars in millions, except per-share amounts)
 Howmet Aerospace Shareholders 
 Preferred
stock
Common
stock
Additional
capital
Retained earningsAccumulated
other
comprehensive
loss
Noncontrolling interestsTotal
Equity
Balance at December 31, 2019$55 $433 $7,319 $113 $(3,329)$14 $4,605 
Net income— — — 155 — — 155 
Other comprehensive income (J)
— — — — 30 — 30 
Cash dividends declared:
Preferred-Class A @ $2.8125 per share
— — — (2)— — (2)
Common @ $0.02 per share
— — — (8)— — (8)
Repurchase and retirement of common stock— (2)(49)— — — (51)
Stock-based compensation — — 35 — — — 35 
Common stock issued: compensation plans — 3 (11)— — — (8)
Distributions to Arconic Corporation (B)
— — (2,611)— 1,370 (14)(1,255)
Balance at September 30, 2020$55 $434 $4,683 $258 $(1,929)$ $3,501 
 
Howmet Aerospace Shareholders
 Preferred
stock
Common
stock
Additional
capital
Retained
earnings
Accumulated
other
comprehensive
loss
Total
Equity
Balance at December 31, 2020$55 $433 $4,668 $364 $(1,943)$3,577 
Net income— — — 181 — 181 
Other comprehensive income (J)
— — — — 32 32 
Cash dividends declared:
Preferred-Class A @ $2.8125 per share
— — — (2)— (2)
Common @ $0.02 per share
— — — (9)— (9)
Repurchase and retirement of common stock— (7)(218)— — (225)
Stock-based compensation — — 28 — — 28 
Common stock issued: compensation plans — 2 (5)— — (3)
Balance at September 30, 2021$55 $428 $4,473 $534 $(1,911)$3,579 

The accompanying notes are an integral part of the consolidated financial statements.
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Howmet Aerospace Inc. and subsidiaries
Notes to the Consolidated Financial Statements (unaudited)
(U.S. dollars in millions, except per-share amounts)
A. Basis of Presentation
The interim Consolidated Financial Statements of Howmet Aerospace Inc. (formerly known as Arconic Inc.) and subsidiaries (“Howmet” or the “Company”) 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 2020 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, 2020, which includes all disclosures required by GAAP. Certain amounts in previously issued financial statements were reclassified to conform to the current period presentation.
The separation of Arconic Inc. into two standalone, publicly-traded companies, Howmet Aerospace Inc. and Arconic Corporation, (the “Arconic Inc. Separation Transaction”) occurred on April 1, 2020. The financial results of Arconic Corporation for all periods prior to the Arconic Inc. Separation Transaction have been retrospectively reflected in the Statement of Consolidated Operations as discontinued operations and, as such, have been excluded from continuing operations and segment results for all periods presented. The cash flows, comprehensive income, and equity related to Arconic Corporation have not been segregated and are included in the Statement of Consolidated Cash Flows, Statement of Consolidated Comprehensive Income, and Statement of Changes in Consolidated Equity, respectively, for all periods prior to the Arconic Inc. Separation Transaction. See Note B for additional information related to the Arconic Inc. Separation Transaction and discontinued operations.
For the nine months ended September 30, 2021 and 2020, the Company derived approximately 60% and 70%, respectively, of its revenue from products sold to the aerospace end-market. As a result of the global COVID-19 pandemic and its impact on the aerospace industry to-date, the possibility exists that there could be a sustained impact to our operations and financial results. Since the start of the pandemic, certain original equipment manufacturer (“OEM”) customers have reduced production or suspended manufacturing operations in North America and Europe on a temporary basis. While the pandemic resulted in the temporary closure of a small number of the Company's manufacturing facilities during 2020, all of our manufacturing facilities are currently operating. Since the duration of the pandemic is uncertain, management has taken a series of actions to address the financial impact, including fixed and variable cost reductions, such as headcount reductions in certain segments, and reducing the level of capital expenditures to preserve cash and maintain liquidity.
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 relating to the impact of COVID-19. The impact of COVID-19 is rapidly changing and of unknown duration and macroeconomic impact and, as a result, these considerations remain 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 that may be impacted by COVID-19.
B. Arconic Inc. Separation Transaction and Discontinued Operations
On April 1, 2020, the Company completed the separation of its business into two independent, publicly-traded companies, which was effected by the distribution (the “Distribution”) by the Company of all of the outstanding common stock of Arconic Corporation to the Company’s stockholders. Following the Arconic Inc. Separation Transaction, Arconic Corporation held the Global Rolled Products businesses (global rolled products, aluminum extrusions, and building and construction systems) previously held by the Company. The Company retained the Engineered Products and Forgings businesses (Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels).
In connection with the Arconic Inc. Separation Transaction, the Company entered into several agreements with Arconic Corporation, including the following: a Separation and Distribution Agreement, Tax Matters Agreement, Employee Matters Agreement, certain Patent, Know-How, Trade Secret License and Trademark License Agreements, and Raw Material Supply Agreements.
On February 7, 2020, Arconic Corporation completed an offering of $600 aggregate principal amount of 6.125% senior secured second-lien notes due 2028. On March 25, 2020, Arconic Corporation entered into a credit agreement which provided for a $600 aggregate principal amount seven-year senior secured first-lien loan B facility and a revolving credit facility which is
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guaranteed by certain of Arconic Corporation's wholly-owned domestic subsidiaries and secured on a first-priority basis by liens on substantially all assets of Arconic Corporation and subsidiary guarantors. Arconic Corporation used the proceeds to make payment to the Company to fund the transfer of certain assets to Arconic Corporation relating to the Arconic Inc. Separation Transaction and for general corporate purposes. The Company incurred debt issuance costs of $45 associated with these issuances for the first quarter of 2020.
On February 1, 2020, the Company completed the sale of its rolling mill in Itapissuma, Brazil for $50 in cash which resulted in a loss of $59, of which $53 was recognized in Restructuring and other charges within discontinued operations in the second half of 2019 and $6 in the first quarter of 2020. On March 1, 2020, Arconic Corporation sold its hard alloy extrusions plant in South Korea for $62 in cash, which resulted in a $27 gain that was recognized in Restructuring and other charges within discontinued operations in the first quarter of 2020.
Discontinued Operations
The results of operations of Arconic Corporation are presented as discontinued operations in the Statement of Consolidated Operations as summarized below:
Nine months ended
September 30,
2020
Sales$1,575 
Cost of goods sold1,293 
Selling, general administrative, research and development and other expenses106 
Provision for depreciation and amortization 58 
Restructuring and other charges(18)
Operating income from discontinued operations136 
Interest expense, net7 
Other expense, net41 
Income from discontinued operations88 
Provision for income taxes38 
Income from discontinued operations after income taxes $50 

The following table presents purchases of properties, plants, and equipment, proceeds from the sale of businesses, and the provision for depreciation and amortization of discontinued operations related to Arconic Corporation:
Nine months ended
September 30,
2020
Capital expenditures$72 
Proceeds from the sales of businesses$112 
Provision for depreciation and amortization$58 
There was no discontinued operations activity related to Arconic Corporation for the third quarter ended September 30, 2020.
The cash flows and equity related to Arconic Corporation have not been segregated and are included in the Statement of Consolidated Cash Flows or Statement of Comprehensive Income for all periods presented prior to the Arconic Inc. Separation Transaction.
C. Recently Adopted and Recently Issued Accounting Guidance
Adopted
On January 1, 2021, the Company adopted changes issued by the Financial Accounting Standards Board (“FASB”) that were intended to simplify various aspects of accounting for income taxes by eliminating certain exceptions contained in existing guidance and amending other guidance to simplify several other income tax accounting matters. The adoption of this new guidance did not have a material impact on the Consolidated Financial Statements.

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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. Management is currently evaluating the potential impact of these changes on the Consolidated Financial Statements.
D. 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 end 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 operating profit. Howmet’s definition of Segment operating profit is Operating income excluding Special items. Special items include Restructuring and other charges. Segment operating profit 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. The business’s products are also critical components of commercial transportation vehicles, automobiles, construction and industrial equipment and renewable energy sector.
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 markets.
Goodwill     
The Company had $4,077 of Goodwill at September 30, 2021 and reviews it annually for impairment in the fourth quarter, or more frequently, if indicators exist or if a decision is made to sell or realign a business.
On January 1, 2020, management transferred the Savannah business from the Engine Products segment to the Engineered Structures segment, based on synergies with forgings technologies and manufacturing capabilities. As a result of the reorganization, goodwill of $17 was reallocated from Engine Products to Engineered Structures, and these reporting units were evaluated for impairment during the first quarter of 2020. The estimated fair value of each of these reporting units substantially exceeded their carrying value; thus, there was no goodwill impairment at the date the business was transferred.
During the first quarter of 2020, Howmet's market capitalization declined significantly compared to the fourth quarter of 2019. Over the same period, the equity value of our peer group companies, and the overall U.S. stock market also declined significantly amid market volatility. In addition, as a result of the COVID-19 pandemic and measures designed to contain the spread, global sales to customers in the aerospace and commercial transportation industries impacted by COVID-19 have been and are expected to be negatively impacted compared to 2019 as a result of disruption in demand. As a result of these macroeconomic factors, we performed a qualitative impairment test to evaluate whether it is more likely than not that the fair value of any of our reporting units is less than its carrying value. As a result of this assessment, the Company performed a quantitative impairment test in the first quarter of 2020 for the Engineered Structures reporting unit and concluded that though the margin between the fair value of the reporting unit and carrying value had declined from approximately 60% to
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approximately 15%, it was not impaired. Consistent with prior practice, a discounted cash flow model was used to estimate the current fair value of the reporting unit. The significant assumptions and estimates utilized to determine fair value were developed utilizing current market and forecast information reflecting the disruption in demand that has and is expected to negatively impact the Company’s sales globally in the aerospace industry. If our actual results or external market factors decline significantly from management’s estimates, future goodwill impairment charges may be necessary and could be material. Since the first quarter of 2020, there have been no indicators of impairment identified for the Engineered Structures reporting unit or any other reporting units or indefinite-lived intangible assets.
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The operating results of the Company’s reportable segments were as follows. Differences between the total segment and consolidated totals are in Corporate.
Engine ProductsFastening SystemsEngineered StructuresForged WheelsTotal
Segment
Third quarter ended September 30, 2021
Sales:
Third-party sales$599 $254 $199 $231 $1,283 
Inter-segment sales1  1  2 
Total sales$600 $254 $200 $231 $1,285 
Profit and loss:
Segment operating profit$120 $47 $14 $62 $243 
Restructuring and other charges5 3   8 
Provision for depreciation and amortization31 12 12 10 65 
Capital expenditures21 8 3 15 47 
Third quarter ended September 30, 2020
Sales:
Third-party sales$485 $271 $206 $172 $1,134 
Inter-segment sales1  1  2 
Total sales$486 $271 $207 $172 $1,136 
Profit and loss:
Segment operating profit$39 $33 $10 $35 $117 
Restructuring and other charges9  9  18 
Provision for depreciation and amortization31 12 13 10 66 
Capital expenditures15 9 3 6 33 
Engine ProductsFastening SystemsEngineered StructuresForged WheelsTotal
Segment
Nine months ended September 30, 2021
Sales:
Third-party sales$1,677 $788 $535 $687 $3,687 
Inter-segment sales3  4  7 
Total sales$1,680 $788 $539 $687 $3,694 
Profit and loss:
Segment operating profit$321