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Includes 4.4 million weighted-average shares of Class B common stock and 111.0 million weighted-average shares of common stock during the year ended December 31, 2022. | text | 4.4 | sharesItemType | text: <entity> 4.4 </entity> <entity type> sharesItemType </entity type> <context> Includes 4.4 million weighted-average shares of Class B common stock and 111.0 million weighted-average shares of common stock during the year ended December 31, 2022. </context> | us-gaap:WeightedAverageNumberOfSharesOutstandingBasic |
Includes 4.4 million weighted-average shares of Class B common stock and 111.0 million weighted-average shares of common stock during the year ended December 31, 2022. | text | 111.0 | sharesItemType | text: <entity> 111.0 </entity> <entity type> sharesItemType </entity type> <context> Includes 4.4 million weighted-average shares of Class B common stock and 111.0 million weighted-average shares of common stock during the year ended December 31, 2022. </context> | us-gaap:WeightedAverageNumberOfSharesOutstandingBasic |
—Through our Operating Partnership, we are currently party to a tax protection agreement (the “2017 TPA”) with certain partners that contributed property to our Operating Partnership on October 4, 2017, among them certain of our executive officers, including Jeffrey S. Edison, our Chairman and Chief Executive Officer, under which the Operating Partnership agreed to indemnify such partners for tax liabilities that could accrue to them personally related to our potential disposition of certain properties within our portfolio. The 2017 TPA will expire on October 4, 2027. On July 19, 2021, we entered into an additional tax protection agreement (the “2021 TPA”) with certain of our executive officers and board members, including Mr. Edison. The 2021 TPA carries a term of four years and will become effective upon the expiration of the 2017 TPA. As of December 31, 2024, the potential “make-whole amount” on the estimated aggregate amount of built-in gain subject to protection under the agreements is approximately $ 117.9 million. The protection provided under the terms of the 2021 TPA will expire in 2031. We have not recorded any liability related to the 2017 TPA or the 2021 TPA on our consolidated balance sheets for any periods presented, nor recognized any expense since the inception of the 2017 TPA, owing to the fact that any potential liability under the agreements is controlled by us and we believe we will either (i) continue to own and operate the protected properties or (ii) be able to successfully complete Section 1031 Exchanges (unless there is a change in applicable law) or complete other tax-efficient transactions to avoid any liability under the agreements. | text | 117.9 | monetaryItemType | text: <entity> 117.9 </entity> <entity type> monetaryItemType </entity type> <context> —Through our Operating Partnership, we are currently party to a tax protection agreement (the “2017 TPA”) with certain partners that contributed property to our Operating Partnership on October 4, 2017, among them certain of our executive officers, including Jeffrey S. Edison, our Chairman and Chief Executive Officer, under which the Operating Partnership agreed to indemnify such partners for tax liabilities that could accrue to them personally related to our potential disposition of certain properties within our portfolio. The 2017 TPA will expire on October 4, 2027. On July 19, 2021, we entered into an additional tax protection agreement (the “2021 TPA”) with certain of our executive officers and board members, including Mr. Edison. The 2021 TPA carries a term of four years and will become effective upon the expiration of the 2017 TPA. As of December 31, 2024, the potential “make-whole amount” on the estimated aggregate amount of built-in gain subject to protection under the agreements is approximately $ 117.9 million. The protection provided under the terms of the 2021 TPA will expire in 2031. We have not recorded any liability related to the 2017 TPA or the 2021 TPA on our consolidated balance sheets for any periods presented, nor recognized any expense since the inception of the 2017 TPA, owing to the fact that any potential liability under the agreements is controlled by us and we believe we will either (i) continue to own and operate the protected properties or (ii) be able to successfully complete Section 1031 Exchanges (unless there is a change in applicable law) or complete other tax-efficient transactions to avoid any liability under the agreements. </context> | us-gaap:FairValueDisclosureOffbalanceSheetRisksAmountLiability |
—As of December 31, 2024, we were the limited guarantor of a $ 174.0 million mortgage loan secured by GRP I properties. Our guaranty for the GRP I debt is limited to being the non-recourse carveout guarantor and the environmental indemnitor. Further, we are also party to an agreement with GRP I in which any potential liability under such guaranty will be apportioned between us and GRP I based on our respective ownership percentage in the joint venture. We had no liability recorded on our consolidated balance sheets for the guaranty as of December 31, 2024 and 2023. | text | 174.0 | monetaryItemType | text: <entity> 174.0 </entity> <entity type> monetaryItemType </entity type> <context> —As of December 31, 2024, we were the limited guarantor of a $ 174.0 million mortgage loan secured by GRP I properties. Our guaranty for the GRP I debt is limited to being the non-recourse carveout guarantor and the environmental indemnitor. Further, we are also party to an agreement with GRP I in which any potential liability under such guaranty will be apportioned between us and GRP I based on our respective ownership percentage in the joint venture. We had no liability recorded on our consolidated balance sheets for the guaranty as of December 31, 2024 and 2023. </context> | us-gaap:GuaranteeObligationsMaximumExposure |
As of December 31, 2024, we were also the limited guarantor of a $ 23.2 million mortgage loan secured by the NRV property. Our guaranty for the NRV debt is limited to being the non-recourse carveout guarantor and the environmental indemnitor. Further, we are also party to an agreement with NRV in which any potential liability under such guaranty will be apportioned between us and NRV based on our respective ownership percentage in the joint venture. We had no liability recorded on our consolidated balance sheets for the guaranty as of December 31, 2024. | text | 23.2 | monetaryItemType | text: <entity> 23.2 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, we were also the limited guarantor of a $ 23.2 million mortgage loan secured by the NRV property. Our guaranty for the NRV debt is limited to being the non-recourse carveout guarantor and the environmental indemnitor. Further, we are also party to an agreement with NRV in which any potential liability under such guaranty will be apportioned between us and NRV based on our respective ownership percentage in the joint venture. We had no liability recorded on our consolidated balance sheets for the guaranty as of December 31, 2024. </context> | us-gaap:GuaranteeObligationsMaximumExposure |
In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the years ended December 31, 2024 and 2023, we paid service fees of $ 1.8 million and $ 1.9 million, respectively, and recorded equity loss of $ 0.2 million and equity income of $ 0.1 million, respectively. | text | 15 | percentItemType | text: <entity> 15 </entity> <entity type> percentItemType </entity type> <context> In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the years ended December 31, 2024 and 2023, we paid service fees of $ 1.8 million and $ 1.9 million, respectively, and recorded equity loss of $ 0.2 million and equity income of $ 0.1 million, respectively. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the years ended December 31, 2024 and 2023, we paid service fees of $ 1.8 million and $ 1.9 million, respectively, and recorded equity loss of $ 0.2 million and equity income of $ 0.1 million, respectively. | text | 6.8 | monetaryItemType | text: <entity> 6.8 </entity> <entity type> monetaryItemType </entity type> <context> In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the years ended December 31, 2024 and 2023, we paid service fees of $ 1.8 million and $ 1.9 million, respectively, and recorded equity loss of $ 0.2 million and equity income of $ 0.1 million, respectively. </context> | us-gaap:EquityMethodInvestments |
In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the years ended December 31, 2024 and 2023, we paid service fees of $ 1.8 million and $ 1.9 million, respectively, and recorded equity loss of $ 0.2 million and equity income of $ 0.1 million, respectively. | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the years ended December 31, 2024 and 2023, we paid service fees of $ 1.8 million and $ 1.9 million, respectively, and recorded equity loss of $ 0.2 million and equity income of $ 0.1 million, respectively. </context> | us-gaap:IncomeLossFromEquityMethodInvestments |
In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the years ended December 31, 2024 and 2023, we paid service fees of $ 1.8 million and $ 1.9 million, respectively, and recorded equity loss of $ 0.2 million and equity income of $ 0.1 million, respectively. | text | 0.1 | monetaryItemType | text: <entity> 0.1 </entity> <entity type> monetaryItemType </entity type> <context> In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the years ended December 31, 2024 and 2023, we paid service fees of $ 1.8 million and $ 1.9 million, respectively, and recorded equity loss of $ 0.2 million and equity income of $ 0.1 million, respectively. </context> | us-gaap:IncomeLossFromEquityMethodInvestments |
During 2021, we made a cash investment of $ 3.0 million into a third-party company in exchange for preferred shares of their stock. As part of the investment agreement, the third-party company entered into leases at two of our properties. During 2023, we determined that the investment in the third-party company was fully impaired due to the value of the investment being significantly reduced, which is not deemed to be temporary, indicated by the company’s inability to pay rent. As a result, we recorded impairment expense of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 and reserved tenant receivables of $ 0.2 million as of December 31, 2023 as the company was considered to be non-creditworthy. During the year ended December 31, 2024, the reserved tenant receivables were written off. | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2021, we made a cash investment of $ 3.0 million into a third-party company in exchange for preferred shares of their stock. As part of the investment agreement, the third-party company entered into leases at two of our properties. During 2023, we determined that the investment in the third-party company was fully impaired due to the value of the investment being significantly reduced, which is not deemed to be temporary, indicated by the company’s inability to pay rent. As a result, we recorded impairment expense of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 and reserved tenant receivables of $ 0.2 million as of December 31, 2023 as the company was considered to be non-creditworthy. During the year ended December 31, 2024, the reserved tenant receivables were written off. </context> | us-gaap:EquityMethodInvestments |
During 2021, we made a cash investment of $ 3.0 million into a third-party company in exchange for preferred shares of their stock. As part of the investment agreement, the third-party company entered into leases at two of our properties. During 2023, we determined that the investment in the third-party company was fully impaired due to the value of the investment being significantly reduced, which is not deemed to be temporary, indicated by the company’s inability to pay rent. As a result, we recorded impairment expense of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 and reserved tenant receivables of $ 0.2 million as of December 31, 2023 as the company was considered to be non-creditworthy. During the year ended December 31, 2024, the reserved tenant receivables were written off. | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2021, we made a cash investment of $ 3.0 million into a third-party company in exchange for preferred shares of their stock. As part of the investment agreement, the third-party company entered into leases at two of our properties. During 2023, we determined that the investment in the third-party company was fully impaired due to the value of the investment being significantly reduced, which is not deemed to be temporary, indicated by the company’s inability to pay rent. As a result, we recorded impairment expense of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 and reserved tenant receivables of $ 0.2 million as of December 31, 2023 as the company was considered to be non-creditworthy. During the year ended December 31, 2024, the reserved tenant receivables were written off. </context> | us-gaap:OtherAssetImpairmentCharges |
During 2021, we made a cash investment of $ 3.0 million into a third-party company in exchange for preferred shares of their stock. As part of the investment agreement, the third-party company entered into leases at two of our properties. During 2023, we determined that the investment in the third-party company was fully impaired due to the value of the investment being significantly reduced, which is not deemed to be temporary, indicated by the company’s inability to pay rent. As a result, we recorded impairment expense of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 and reserved tenant receivables of $ 0.2 million as of December 31, 2023 as the company was considered to be non-creditworthy. During the year ended December 31, 2024, the reserved tenant receivables were written off. | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> During 2021, we made a cash investment of $ 3.0 million into a third-party company in exchange for preferred shares of their stock. As part of the investment agreement, the third-party company entered into leases at two of our properties. During 2023, we determined that the investment in the third-party company was fully impaired due to the value of the investment being significantly reduced, which is not deemed to be temporary, indicated by the company’s inability to pay rent. As a result, we recorded impairment expense of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 and reserved tenant receivables of $ 0.2 million as of December 31, 2023 as the company was considered to be non-creditworthy. During the year ended December 31, 2024, the reserved tenant receivables were written off. </context> | us-gaap:IncreaseDecreaseInDueToRelatedParties |
PECO Air L.L.C. (“PECO Air”), an entity in which Mr. Edison, our Chairman and Chief Executive Officer, owns a 50 % interest, owns an airplane that we use for business purposes in the course of our operations. We paid approximately $ 0.9 million, $ 0.9 | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> PECO Air L.L.C. (“PECO Air”), an entity in which Mr. Edison, our Chairman and Chief Executive Officer, owns a 50 % interest, owns an airplane that we use for business purposes in the course of our operations. We paid approximately $ 0.9 million, $ 0.9 </context> | us-gaap:LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest |
PECO Air L.L.C. (“PECO Air”), an entity in which Mr. Edison, our Chairman and Chief Executive Officer, owns a 50 % interest, owns an airplane that we use for business purposes in the course of our operations. We paid approximately $ 0.9 million, $ 0.9 | text | 0.9 | monetaryItemType | text: <entity> 0.9 </entity> <entity type> monetaryItemType </entity type> <context> PECO Air L.L.C. (“PECO Air”), an entity in which Mr. Edison, our Chairman and Chief Executive Officer, owns a 50 % interest, owns an airplane that we use for business purposes in the course of our operations. We paid approximately $ 0.9 million, $ 0.9 </context> | us-gaap:RelatedPartyTransactionAmountsOfTransaction |
As of December 31, 2024 and 2023, respectively, recorded principal balances include: (i) net deferred financing fees of $ 5.7 million and $ 10.3 million; (ii) assumed market debt adjustments of $ 0.1 million and $ 0.9 million; and (iii) notes payable discounts of $ 22.2 million and $ 6.3 million. | text | 5.7 | monetaryItemType | text: <entity> 5.7 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, respectively, recorded principal balances include: (i) net deferred financing fees of $ 5.7 million and $ 10.3 million; (ii) assumed market debt adjustments of $ 0.1 million and $ 0.9 million; and (iii) notes payable discounts of $ 22.2 million and $ 6.3 million. </context> | us-gaap:UnamortizedDebtIssuanceExpense |
As of December 31, 2024 and 2023, respectively, recorded principal balances include: (i) net deferred financing fees of $ 5.7 million and $ 10.3 million; (ii) assumed market debt adjustments of $ 0.1 million and $ 0.9 million; and (iii) notes payable discounts of $ 22.2 million and $ 6.3 million. | text | 10.3 | monetaryItemType | text: <entity> 10.3 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, respectively, recorded principal balances include: (i) net deferred financing fees of $ 5.7 million and $ 10.3 million; (ii) assumed market debt adjustments of $ 0.1 million and $ 0.9 million; and (iii) notes payable discounts of $ 22.2 million and $ 6.3 million. </context> | us-gaap:UnamortizedDebtIssuanceExpense |
As of December 31, 2024 and 2023, respectively, recorded principal balances include: (i) net deferred financing fees of $ 5.7 million and $ 10.3 million; (ii) assumed market debt adjustments of $ 0.1 million and $ 0.9 million; and (iii) notes payable discounts of $ 22.2 million and $ 6.3 million. | text | 22.2 | monetaryItemType | text: <entity> 22.2 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, respectively, recorded principal balances include: (i) net deferred financing fees of $ 5.7 million and $ 10.3 million; (ii) assumed market debt adjustments of $ 0.1 million and $ 0.9 million; and (iii) notes payable discounts of $ 22.2 million and $ 6.3 million. </context> | us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet |
As of December 31, 2024 and 2023, respectively, recorded principal balances include: (i) net deferred financing fees of $ 5.7 million and $ 10.3 million; (ii) assumed market debt adjustments of $ 0.1 million and $ 0.9 million; and (iii) notes payable discounts of $ 22.2 million and $ 6.3 million. | text | 6.3 | monetaryItemType | text: <entity> 6.3 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, respectively, recorded principal balances include: (i) net deferred financing fees of $ 5.7 million and $ 10.3 million; (ii) assumed market debt adjustments of $ 0.1 million and $ 0.9 million; and (iii) notes payable discounts of $ 22.2 million and $ 6.3 million. </context> | us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet |
The fair values of the derivative assets exclude associated accrued interest receivable of $ 0.5 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. | text | 0.5 | monetaryItemType | text: <entity> 0.5 </entity> <entity type> monetaryItemType </entity type> <context> The fair values of the derivative assets exclude associated accrued interest receivable of $ 0.5 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:InterestReceivable |
The fair values of the derivative assets exclude associated accrued interest receivable of $ 0.5 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> The fair values of the derivative assets exclude associated accrued interest receivable of $ 0.5 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:InterestReceivable |
—As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the years ended December 31, 2024 and 2023. We recorded expense of $ 1.8 million for the year ended December 31, 2022. | text | 1.6 | sharesItemType | text: <entity> 1.6 </entity> <entity type> sharesItemType </entity type> <context> —As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the years ended December 31, 2024 and 2023. We recorded expense of $ 1.8 million for the year ended December 31, 2022. </context> | us-gaap:BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued |
—As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the years ended December 31, 2024 and 2023. We recorded expense of $ 1.8 million for the year ended December 31, 2022. | text | 54.2 | monetaryItemType | text: <entity> 54.2 </entity> <entity type> monetaryItemType </entity type> <context> —As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the years ended December 31, 2024 and 2023. We recorded expense of $ 1.8 million for the year ended December 31, 2022. </context> | us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements |
—As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the years ended December 31, 2024 and 2023. We recorded expense of $ 1.8 million for the year ended December 31, 2022. | text | 1.8 | monetaryItemType | text: <entity> 1.8 </entity> <entity type> monetaryItemType </entity type> <context> —As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the years ended December 31, 2024 and 2023. We recorded expense of $ 1.8 million for the year ended December 31, 2022. </context> | us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings |
Our principal business is the ownership and operation of community and neighborhood shopping centers. We conduct our operations solely in the United States, and we do not distinguish our principal business, or group our operations, by geography or size for the purpose of measuring performance. We concluded that we have only one operating and reportable segment, Real Estate Properties. Our conclusion was determined on the basis of the way in which our chief operating decision maker (“CODM”) regularly reviews internally reported financial information to analyze financial performance, make decisions, and allocate resources at the consolidated level. | text | one | integerItemType | text: <entity> one </entity> <entity type> integerItemType </entity type> <context> Our principal business is the ownership and operation of community and neighborhood shopping centers. We conduct our operations solely in the United States, and we do not distinguish our principal business, or group our operations, by geography or size for the purpose of measuring performance. We concluded that we have only one operating and reportable segment, Real Estate Properties. Our conclusion was determined on the basis of the way in which our chief operating decision maker (“CODM”) regularly reviews internally reported financial information to analyze financial performance, make decisions, and allocate resources at the consolidated level. </context> | us-gaap:NumberOfOperatingSegments |
The Company derived approximately 52 % | text | 52 | percentItemType | text: <entity> 52 </entity> <entity type> percentItemType </entity type> <context> The Company derived approximately 52 % </context> | us-gaap:ConcentrationRiskPercentage1 |
Goodwill is allocated among and evaluated for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment. Howmet has four reporting units composed of the Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels segments. | text | four | integerItemType | text: <entity> four </entity> <entity type> integerItemType </entity type> <context> Goodwill is allocated among and evaluated for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment. Howmet has four reporting units composed of the Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels segments. </context> | us-gaap:NumberOfReportingUnits |
In certain circumstances, Howmet receives advanced payments from its customers for product to be delivered in future periods. These advanced payments are recorded as deferred revenue until the product is delivered and title and risk of loss have passed to the customer in accordance with the terms of the contract. Deferred revenue was $ 60 and $ 64 as of December 31, 2024 and 2023, respectively, and is included in Other current liabilities and Other noncurrent liabilities and deferred credits in the Consolidated Balance Sheet. | text | 60 | monetaryItemType | text: <entity> 60 </entity> <entity type> monetaryItemType </entity type> <context> In certain circumstances, Howmet receives advanced payments from its customers for product to be delivered in future periods. These advanced payments are recorded as deferred revenue until the product is delivered and title and risk of loss have passed to the customer in accordance with the terms of the contract. Deferred revenue was $ 60 and $ 64 as of December 31, 2024 and 2023, respectively, and is included in Other current liabilities and Other noncurrent liabilities and deferred credits in the Consolidated Balance Sheet. </context> | us-gaap:ContractWithCustomerLiability |
In certain circumstances, Howmet receives advanced payments from its customers for product to be delivered in future periods. These advanced payments are recorded as deferred revenue until the product is delivered and title and risk of loss have passed to the customer in accordance with the terms of the contract. Deferred revenue was $ 60 and $ 64 as of December 31, 2024 and 2023, respectively, and is included in Other current liabilities and Other noncurrent liabilities and deferred credits in the Consolidated Balance Sheet. | text | 64 | monetaryItemType | text: <entity> 64 </entity> <entity type> monetaryItemType </entity type> <context> In certain circumstances, Howmet receives advanced payments from its customers for product to be delivered in future periods. These advanced payments are recorded as deferred revenue until the product is delivered and title and risk of loss have passed to the customer in accordance with the terms of the contract. Deferred revenue was $ 60 and $ 64 as of December 31, 2024 and 2023, respectively, and is included in Other current liabilities and Other noncurrent liabilities and deferred credits in the Consolidated Balance Sheet. </context> | us-gaap:ContractWithCustomerLiability |
Howmet’s operations consist of four worldwide reportable segments as follows: | text | four | integerItemType | text: <entity> four </entity> <entity type> integerItemType </entity type> <context> Howmet’s operations consist of four worldwide reportable segments as follows: </context> | us-gaap:NumberOfReportableSegments |
The Company derived 68 %, 64 %, and 62 % of its revenue from the aerospace (commercial and defense) markets for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 68 | percentItemType | text: <entity> 68 </entity> <entity type> percentItemType </entity type> <context> The Company derived 68 %, 64 %, and 62 % of its revenue from the aerospace (commercial and defense) markets for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:ConcentrationRiskPercentage1 |
The Company derived 68 %, 64 %, and 62 % of its revenue from the aerospace (commercial and defense) markets for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 64 | percentItemType | text: <entity> 64 </entity> <entity type> percentItemType </entity type> <context> The Company derived 68 %, 64 %, and 62 % of its revenue from the aerospace (commercial and defense) markets for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:ConcentrationRiskPercentage1 |
The Company derived 68 %, 64 %, and 62 % of its revenue from the aerospace (commercial and defense) markets for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 62 | percentItemType | text: <entity> 62 </entity> <entity type> percentItemType </entity type> <context> The Company derived 68 %, 64 %, and 62 % of its revenue from the aerospace (commercial and defense) markets for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:ConcentrationRiskPercentage1 |
In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . | text | 21 | monetaryItemType | text: <entity> 21 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . </context> | us-gaap:RestructuringCostsAndAssetImpairmentCharges |
In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . | text | 13 | monetaryItemType | text: <entity> 13 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . </context> | us-gaap:GainLossOnDispositionOfAssets1 |
In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . </context> | us-gaap:SeveranceCosts1 |
In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . | text | 431 | integerItemType | text: <entity> 431 </entity> <entity type> integerItemType </entity type> <context> In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . </context> | us-gaap:RestructuringAndRelatedCostNumberOfPositionsEliminated |
In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . | text | 283 | integerItemType | text: <entity> 283 </entity> <entity type> integerItemType </entity type> <context> In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . </context> | us-gaap:RestructuringAndRelatedCostNumberOfPositionsEliminated |
In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . | text | 111 | integerItemType | text: <entity> 111 </entity> <entity type> integerItemType </entity type> <context> In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . </context> | us-gaap:RestructuringAndRelatedCostNumberOfPositionsEliminated |
In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . | text | 37 | integerItemType | text: <entity> 37 </entity> <entity type> integerItemType </entity type> <context> In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . </context> | us-gaap:RestructuringAndRelatedCostNumberOfPositionsEliminated |
In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . </context> | us-gaap:RestructuringReserveAcceleratedDepreciation |
In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, Howmet recorded Restructuring and other charges of $ 21 , which were primarily due to a net loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $ 13 , a $ 10 charge for layoff costs, including the separation of 431 employees ( 283 in Fastening Systems, 111 in Engineered Structures and 37 in Forged Wheels), and accelerated depreciation, of $ 2 , partially offset by the reversal of $ 3 for layoff reserves in Engineered Structures related to prior periods and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . </context> | us-gaap:GainLossOnDispositionOfAssets1 |
December 31, 2024, 355 employees of the 431 employees were separated. | text | 355 | integerItemType | text: <entity> 355 </entity> <entity type> integerItemType </entity type> <context> December 31, 2024, 355 employees of the 431 employees were separated. </context> | us-gaap:RestructuringAndRelatedCostNumberOfPositionsEliminatedInceptionToDate |
December 31, 2024, 355 employees of the 431 employees were separated. | text | 431 | integerItemType | text: <entity> 431 </entity> <entity type> integerItemType </entity type> <context> December 31, 2024, 355 employees of the 431 employees were separated. </context> | us-gaap:RestructuringAndRelatedCostNumberOfPositionsEliminated |
In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. | text | 23 | monetaryItemType | text: <entity> 23 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. </context> | us-gaap:RestructuringCostsAndAssetImpairmentCharges |
In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. </context> | us-gaap:AssetImpairmentCharges |
In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. </context> | us-gaap:DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1 |
In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. </context> | us-gaap:SeveranceCosts1 |
In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. | text | 63 | integerItemType | text: <entity> 63 </entity> <entity type> integerItemType </entity type> <context> In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. </context> | us-gaap:RestructuringAndRelatedCostNumberOfPositionsEliminated |
In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. </context> | us-gaap:OtherRestructuringCosts |
In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. </context> | us-gaap:RestructuringReserveAcceleratedDepreciation |
In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, Howmet recorded Restructuring and other charges of $ 23 , which included a $ 12 charge for impairment of assets primarily related to decommissioned fixed assets in Engineered Structures; a $ 5 charge for U.S. and Canadian pension plans’ settlement accounting; a $ 3 charge for layoff costs, including the separation of 63 employees in Engineered Structures; a $ 3 charge for various other exit costs primarily for the closures of small manufacturing facilities and a $ 2 charge for accelerated depreciation primarily related to the closure of a small Engineered Structures facility in the U.K. These charges were partially offset by a gain of $ 1 on the sale of assets at a U.S. Engineered Structures facility and a benefit of $ 1 related to the reversal of layoff reserves related to prior periods. </context> | us-gaap:GainLossOnDispositionOfAssets1 |
In 2022, Howmet recorded Restructuring and other charges of $ 56 , which included a $ 58 charge for U.S. and U.K. pension plans’ settlement accounting; a $ 6 charge for various other exit costs; and a $ 1 charge for accelerated depreciation primarily related to the closure of small U.S. manufacturing facilities in Engineered Structures. These charges were partially offset by a gain of $ 8 on the sale of assets at a small U.S. manufacturing facility in Engine Products and a benefit of $ 1 related to the reversal of a number of layoff reserves related to prior periods. | text | 56 | monetaryItemType | text: <entity> 56 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, Howmet recorded Restructuring and other charges of $ 56 , which included a $ 58 charge for U.S. and U.K. pension plans’ settlement accounting; a $ 6 charge for various other exit costs; and a $ 1 charge for accelerated depreciation primarily related to the closure of small U.S. manufacturing facilities in Engineered Structures. These charges were partially offset by a gain of $ 8 on the sale of assets at a small U.S. manufacturing facility in Engine Products and a benefit of $ 1 related to the reversal of a number of layoff reserves related to prior periods. </context> | us-gaap:RestructuringCostsAndAssetImpairmentCharges |
In 2022, Howmet recorded Restructuring and other charges of $ 56 , which included a $ 58 charge for U.S. and U.K. pension plans’ settlement accounting; a $ 6 charge for various other exit costs; and a $ 1 charge for accelerated depreciation primarily related to the closure of small U.S. manufacturing facilities in Engineered Structures. These charges were partially offset by a gain of $ 8 on the sale of assets at a small U.S. manufacturing facility in Engine Products and a benefit of $ 1 related to the reversal of a number of layoff reserves related to prior periods. | text | 58 | monetaryItemType | text: <entity> 58 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, Howmet recorded Restructuring and other charges of $ 56 , which included a $ 58 charge for U.S. and U.K. pension plans’ settlement accounting; a $ 6 charge for various other exit costs; and a $ 1 charge for accelerated depreciation primarily related to the closure of small U.S. manufacturing facilities in Engineered Structures. These charges were partially offset by a gain of $ 8 on the sale of assets at a small U.S. manufacturing facility in Engine Products and a benefit of $ 1 related to the reversal of a number of layoff reserves related to prior periods. </context> | us-gaap:DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1 |
In 2022, Howmet recorded Restructuring and other charges of $ 56 , which included a $ 58 charge for U.S. and U.K. pension plans’ settlement accounting; a $ 6 charge for various other exit costs; and a $ 1 charge for accelerated depreciation primarily related to the closure of small U.S. manufacturing facilities in Engineered Structures. These charges were partially offset by a gain of $ 8 on the sale of assets at a small U.S. manufacturing facility in Engine Products and a benefit of $ 1 related to the reversal of a number of layoff reserves related to prior periods. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, Howmet recorded Restructuring and other charges of $ 56 , which included a $ 58 charge for U.S. and U.K. pension plans’ settlement accounting; a $ 6 charge for various other exit costs; and a $ 1 charge for accelerated depreciation primarily related to the closure of small U.S. manufacturing facilities in Engineered Structures. These charges were partially offset by a gain of $ 8 on the sale of assets at a small U.S. manufacturing facility in Engine Products and a benefit of $ 1 related to the reversal of a number of layoff reserves related to prior periods. </context> | us-gaap:OtherRestructuringCosts |
In 2022, Howmet recorded Restructuring and other charges of $ 56 , which included a $ 58 charge for U.S. and U.K. pension plans’ settlement accounting; a $ 6 charge for various other exit costs; and a $ 1 charge for accelerated depreciation primarily related to the closure of small U.S. manufacturing facilities in Engineered Structures. These charges were partially offset by a gain of $ 8 on the sale of assets at a small U.S. manufacturing facility in Engine Products and a benefit of $ 1 related to the reversal of a number of layoff reserves related to prior periods. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, Howmet recorded Restructuring and other charges of $ 56 , which included a $ 58 charge for U.S. and U.K. pension plans’ settlement accounting; a $ 6 charge for various other exit costs; and a $ 1 charge for accelerated depreciation primarily related to the closure of small U.S. manufacturing facilities in Engineered Structures. These charges were partially offset by a gain of $ 8 on the sale of assets at a small U.S. manufacturing facility in Engine Products and a benefit of $ 1 related to the reversal of a number of layoff reserves related to prior periods. </context> | us-gaap:RestructuringReserveAcceleratedDepreciation |
In 2022, Howmet recorded Restructuring and other charges of $ 56 , which included a $ 58 charge for U.S. and U.K. pension plans’ settlement accounting; a $ 6 charge for various other exit costs; and a $ 1 charge for accelerated depreciation primarily related to the closure of small U.S. manufacturing facilities in Engineered Structures. These charges were partially offset by a gain of $ 8 on the sale of assets at a small U.S. manufacturing facility in Engine Products and a benefit of $ 1 related to the reversal of a number of layoff reserves related to prior periods. | text | 8 | monetaryItemType | text: <entity> 8 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, Howmet recorded Restructuring and other charges of $ 56 , which included a $ 58 charge for U.S. and U.K. pension plans’ settlement accounting; a $ 6 charge for various other exit costs; and a $ 1 charge for accelerated depreciation primarily related to the closure of small U.S. manufacturing facilities in Engineered Structures. These charges were partially offset by a gain of $ 8 on the sale of assets at a small U.S. manufacturing facility in Engine Products and a benefit of $ 1 related to the reversal of a number of layoff reserves related to prior periods. </context> | us-gaap:GainLossOnDispositionOfAssets1 |
In 2022, other for layoff costs included $ 58 in settlement accounting charges related to U.S. and U.K. pension plans; while other for other exit costs included a gain of $ 8 on the sale of assets, which was offset by a $ 1 charge for accelerated depreciation. | text | 58 | monetaryItemType | text: <entity> 58 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, other for layoff costs included $ 58 in settlement accounting charges related to U.S. and U.K. pension plans; while other for other exit costs included a gain of $ 8 on the sale of assets, which was offset by a $ 1 charge for accelerated depreciation. </context> | us-gaap:DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1 |
In 2022, other for layoff costs included $ 58 in settlement accounting charges related to U.S. and U.K. pension plans; while other for other exit costs included a gain of $ 8 on the sale of assets, which was offset by a $ 1 charge for accelerated depreciation. | text | 8 | monetaryItemType | text: <entity> 8 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, other for layoff costs included $ 58 in settlement accounting charges related to U.S. and U.K. pension plans; while other for other exit costs included a gain of $ 8 on the sale of assets, which was offset by a $ 1 charge for accelerated depreciation. </context> | us-gaap:GainLossOnDispositionOfAssets1 |
In 2022, other for layoff costs included $ 58 in settlement accounting charges related to U.S. and U.K. pension plans; while other for other exit costs included a gain of $ 8 on the sale of assets, which was offset by a $ 1 charge for accelerated depreciation. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, other for layoff costs included $ 58 in settlement accounting charges related to U.S. and U.K. pension plans; while other for other exit costs included a gain of $ 8 on the sale of assets, which was offset by a $ 1 charge for accelerated depreciation. </context> | us-gaap:RestructuringReserveAcceleratedDepreciation |
other for layoff costs included $ 5 in settlement accounting charges related to U.S. and Canadian pension plans; while other for other exit costs included charges of $ 12 related to the impairment of assets and a $ 2 charge for accelerated depreciation which was offset by a gain of $ 1 on the sale of assets. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> other for layoff costs included $ 5 in settlement accounting charges related to U.S. and Canadian pension plans; while other for other exit costs included charges of $ 12 related to the impairment of assets and a $ 2 charge for accelerated depreciation which was offset by a gain of $ 1 on the sale of assets. </context> | us-gaap:DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1 |
other for layoff costs included $ 5 in settlement accounting charges related to U.S. and Canadian pension plans; while other for other exit costs included charges of $ 12 related to the impairment of assets and a $ 2 charge for accelerated depreciation which was offset by a gain of $ 1 on the sale of assets. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> other for layoff costs included $ 5 in settlement accounting charges related to U.S. and Canadian pension plans; while other for other exit costs included charges of $ 12 related to the impairment of assets and a $ 2 charge for accelerated depreciation which was offset by a gain of $ 1 on the sale of assets. </context> | us-gaap:AssetImpairmentCharges |
other for layoff costs included $ 5 in settlement accounting charges related to U.S. and Canadian pension plans; while other for other exit costs included charges of $ 12 related to the impairment of assets and a $ 2 charge for accelerated depreciation which was offset by a gain of $ 1 on the sale of assets. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> other for layoff costs included $ 5 in settlement accounting charges related to U.S. and Canadian pension plans; while other for other exit costs included charges of $ 12 related to the impairment of assets and a $ 2 charge for accelerated depreciation which was offset by a gain of $ 1 on the sale of assets. </context> | us-gaap:RestructuringReserveAcceleratedDepreciation |
other for layoff costs included $ 5 in settlement accounting charges related to U.S. and Canadian pension plans; while other for other exit costs included charges of $ 12 related to the impairment of assets and a $ 2 charge for accelerated depreciation which was offset by a gain of $ 1 on the sale of assets. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> other for layoff costs included $ 5 in settlement accounting charges related to U.S. and Canadian pension plans; while other for other exit costs included charges of $ 12 related to the impairment of assets and a $ 2 charge for accelerated depreciation which was offset by a gain of $ 1 on the sale of assets. </context> | us-gaap:GainLossOnDispositionOfAssets1 |
2024, other for other exit costs included a net loss of $ 13 on the sale of a small U.K. manufacturing facility and a charge of $ 2 for accelerated depreciation, partially offset by a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . | text | 13 | monetaryItemType | text: <entity> 13 </entity> <entity type> monetaryItemType </entity type> <context> 2024, other for other exit costs included a net loss of $ 13 on the sale of a small U.K. manufacturing facility and a charge of $ 2 for accelerated depreciation, partially offset by a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . </context> | us-gaap:GainLossOnDispositionOfAssets1 |
2024, other for other exit costs included a net loss of $ 13 on the sale of a small U.K. manufacturing facility and a charge of $ 2 for accelerated depreciation, partially offset by a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> 2024, other for other exit costs included a net loss of $ 13 on the sale of a small U.K. manufacturing facility and a charge of $ 2 for accelerated depreciation, partially offset by a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . </context> | us-gaap:RestructuringReserveAcceleratedDepreciation |
2024, other for other exit costs included a net loss of $ 13 on the sale of a small U.K. manufacturing facility and a charge of $ 2 for accelerated depreciation, partially offset by a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> 2024, other for other exit costs included a net loss of $ 13 on the sale of a small U.K. manufacturing facility and a charge of $ 2 for accelerated depreciation, partially offset by a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $ 1 . </context> | us-gaap:GainLossOnDispositionOfAssets1 |
egal proceeding included the reversal of $ 25 , net of legal fees of $ 1 , of the $ 65 pre-tax charge taken in 2022. | text | 25 | monetaryItemType | text: <entity> 25 </entity> <entity type> monetaryItemType </entity type> <context> egal proceeding included the reversal of $ 25 , net of legal fees of $ 1 , of the $ 65 pre-tax charge taken in 2022. </context> | us-gaap:LossContingencyAccrualCarryingValuePeriodIncreaseDecrease |
egal proceeding included the reversal of $ 25 , net of legal fees of $ 1 , of the $ 65 pre-tax charge taken in 2022. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> egal proceeding included the reversal of $ 25 , net of legal fees of $ 1 , of the $ 65 pre-tax charge taken in 2022. </context> | us-gaap:LegalFees |
egal proceeding included the reversal of $ 25 , net of legal fees of $ 1 , of the $ 65 pre-tax charge taken in 2022. | text | 65 | monetaryItemType | text: <entity> 65 </entity> <entity type> monetaryItemType </entity type> <context> egal proceeding included the reversal of $ 25 , net of legal fees of $ 1 , of the $ 65 pre-tax charge taken in 2022. </context> | us-gaap:LossContingencyAccrualProvision |
In May and July 2023, Howmet entered into new collective bargaining agreements with the United Autoworkers and United Steel Workers, respectively. These agreements amended the existing health and welfare plans, resulting in an adjustment to the Company’s Accrued other postretirement benefits liability of $ 10 , which was offset in Accumulated other comprehensive loss. | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> In May and July 2023, Howmet entered into new collective bargaining agreements with the United Autoworkers and United Steel Workers, respectively. These agreements amended the existing health and welfare plans, resulting in an adjustment to the Company’s Accrued other postretirement benefits liability of $ 10 , which was offset in Accumulated other comprehensive loss. </context> | us-gaap:IncreaseDecreaseInPostretirementObligations |
In June 2023, the Company undertook additional actions to reduce U.S. gross pension obligations by $ 19 by purchasing group annuity contracts with a third-party carrier to pay and administer future annuity payments. These actions resulted in a settlement charge of $ 3 and were recorded in Restructuring and other charges in the second quarter ended June 30, 2023 in the Statement of Consolidated Operations. The funded status of the plans have not been significantly impacted. | text | 19 | monetaryItemType | text: <entity> 19 </entity> <entity type> monetaryItemType </entity type> <context> In June 2023, the Company undertook additional actions to reduce U.S. gross pension obligations by $ 19 by purchasing group annuity contracts with a third-party carrier to pay and administer future annuity payments. These actions resulted in a settlement charge of $ 3 and were recorded in Restructuring and other charges in the second quarter ended June 30, 2023 in the Statement of Consolidated Operations. The funded status of the plans have not been significantly impacted. </context> | us-gaap:IncreaseDecreaseInPensionPlanObligations |
In June 2023, the Company undertook additional actions to reduce U.S. gross pension obligations by $ 19 by purchasing group annuity contracts with a third-party carrier to pay and administer future annuity payments. These actions resulted in a settlement charge of $ 3 and were recorded in Restructuring and other charges in the second quarter ended June 30, 2023 in the Statement of Consolidated Operations. The funded status of the plans have not been significantly impacted. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> In June 2023, the Company undertook additional actions to reduce U.S. gross pension obligations by $ 19 by purchasing group annuity contracts with a third-party carrier to pay and administer future annuity payments. These actions resulted in a settlement charge of $ 3 and were recorded in Restructuring and other charges in the second quarter ended June 30, 2023 in the Statement of Consolidated Operations. The funded status of the plans have not been significantly impacted. </context> | us-gaap:DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1 |
In 2022, a certain U.S. pension plan attained funding levels that allowed full lump sum payments. These payments resulted in settlement charges of $ 41 that were recorded in Restructuring and other charges in the Statement of Consolidated Operations. | text | 41 | monetaryItemType | text: <entity> 41 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, a certain U.S. pension plan attained funding levels that allowed full lump sum payments. These payments resulted in settlement charges of $ 41 that were recorded in Restructuring and other charges in the Statement of Consolidated Operations. </context> | us-gaap:DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1 |
In December 2022, the Canadian pension plan was amended to provide for termination of the plan. As a result, the Company recognized a reduction of $ 2 in the pension benefit obligation through curtailment, which was offset in Accumulated other comprehensive loss in the Consolidated Balance Sheet. The wind-up efforts and satisfaction of all plan liabilities are expected to be completed in 2025. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> In December 2022, the Canadian pension plan was amended to provide for termination of the plan. As a result, the Company recognized a reduction of $ 2 in the pension benefit obligation through curtailment, which was offset in Accumulated other comprehensive loss in the Consolidated Balance Sheet. The wind-up efforts and satisfaction of all plan liabilities are expected to be completed in 2025. </context> | us-gaap:IncreaseDecreaseInPensionPlanObligations |
As of December 31, 2024, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,356 , $ 739 , and $( 617 ), respectively. As of December 31, 2023, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,434 , $ 780 , and $( 654 ), respectively. | text | 1356 | monetaryItemType | text: <entity> 1356 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,356 , $ 739 , and $( 617 ), respectively. As of December 31, 2023, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,434 , $ 780 , and $( 654 ), respectively. </context> | us-gaap:DefinedBenefitPlanBenefitObligation |
As of December 31, 2024, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,356 , $ 739 , and $( 617 ), respectively. As of December 31, 2023, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,434 , $ 780 , and $( 654 ), respectively. | text | 739 | monetaryItemType | text: <entity> 739 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,356 , $ 739 , and $( 617 ), respectively. As of December 31, 2023, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,434 , $ 780 , and $( 654 ), respectively. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
As of December 31, 2024, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,356 , $ 739 , and $( 617 ), respectively. As of December 31, 2023, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,434 , $ 780 , and $( 654 ), respectively. | text | 617 | monetaryItemType | text: <entity> 617 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,356 , $ 739 , and $( 617 ), respectively. As of December 31, 2023, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,434 , $ 780 , and $( 654 ), respectively. </context> | us-gaap:DefinedBenefitPlanFundedStatusOfPlan |
As of December 31, 2024, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,356 , $ 739 , and $( 617 ), respectively. As of December 31, 2023, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,434 , $ 780 , and $( 654 ), respectively. | text | 1434 | monetaryItemType | text: <entity> 1434 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,356 , $ 739 , and $( 617 ), respectively. As of December 31, 2023, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,434 , $ 780 , and $( 654 ), respectively. </context> | us-gaap:DefinedBenefitPlanBenefitObligation |
As of December 31, 2024, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,356 , $ 739 , and $( 617 ), respectively. As of December 31, 2023, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,434 , $ 780 , and $( 654 ), respectively. | text | 780 | monetaryItemType | text: <entity> 780 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,356 , $ 739 , and $( 617 ), respectively. As of December 31, 2023, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,434 , $ 780 , and $( 654 ), respectively. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
As of December 31, 2024, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,356 , $ 739 , and $( 617 ), respectively. As of December 31, 2023, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,434 , $ 780 , and $( 654 ), respectively. | text | 654 | monetaryItemType | text: <entity> 654 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,356 , $ 739 , and $( 617 ), respectively. As of December 31, 2023, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $ 1,434 , $ 780 , and $( 654 ), respectively. </context> | us-gaap:DefinedBenefitPlanFundedStatusOfPlan |
In 2024, 2023, and 2022, net periodic benefit cost for U.S. pension plans was $ 40 , $ 40 , and $ 79 , respectively. | text | 40 | monetaryItemType | text: <entity> 40 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, 2023, and 2022, net periodic benefit cost for U.S. pension plans was $ 40 , $ 40 , and $ 79 , respectively. </context> | us-gaap:DefinedBenefitPlanNetPeriodicBenefitCost |
In 2024, 2023, and 2022, net periodic benefit cost for U.S. pension plans was $ 40 , $ 40 , and $ 79 , respectively. | text | 79 | monetaryItemType | text: <entity> 79 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, 2023, and 2022, net periodic benefit cost for U.S. pension plans was $ 40 , $ 40 , and $ 79 , respectively. </context> | us-gaap:DefinedBenefitPlanNetPeriodicBenefitCost |
For 2025, management anticipates that approximately 7 % will continue to be the expected long-term rate of return for global plan assets. EROA assumptions are developed by country. Annual changes in the weighted average EROA are impacted by the relative size of the assets by country. | text | 7 | percentItemType | text: <entity> 7 </entity> <entity type> percentItemType </entity type> <context> For 2025, management anticipates that approximately 7 % will continue to be the expected long-term rate of return for global plan assets. EROA assumptions are developed by country. Annual changes in the weighted average EROA are impacted by the relative size of the assets by country. </context> | us-gaap:DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets |
The assumed health care cost trend rate is used to measure the expected cost of gross eligible charges covered by Howmet’s other postretirement benefit plans. For 2025, a 5.50 % trend rate will be used, reflecting management’s best estimate of the change in future health care costs covered by the plans. The plans’ actual annual health care cost trend experience over the past three years has ranged from ( 0.40 )% to 1.50 %. Management’s best estimate considering actual and expected annual health care costs is to maintain the 5.50 % trend rate as indicative of expected increases for future health care costs over the long-term. | text | 5.50 | percentItemType | text: <entity> 5.50 </entity> <entity type> percentItemType </entity type> <context> The assumed health care cost trend rate is used to measure the expected cost of gross eligible charges covered by Howmet’s other postretirement benefit plans. For 2025, a 5.50 % trend rate will be used, reflecting management’s best estimate of the change in future health care costs covered by the plans. The plans’ actual annual health care cost trend experience over the past three years has ranged from ( 0.40 )% to 1.50 %. Management’s best estimate considering actual and expected annual health care costs is to maintain the 5.50 % trend rate as indicative of expected increases for future health care costs over the long-term. </context> | us-gaap:DefinedBenefitPlanHealthCareCostTrendRateAssumedNextFiscalYear |
The assumed health care cost trend rate is used to measure the expected cost of gross eligible charges covered by Howmet’s other postretirement benefit plans. For 2025, a 5.50 % trend rate will be used, reflecting management’s best estimate of the change in future health care costs covered by the plans. The plans’ actual annual health care cost trend experience over the past three years has ranged from ( 0.40 )% to 1.50 %. Management’s best estimate considering actual and expected annual health care costs is to maintain the 5.50 % trend rate as indicative of expected increases for future health care costs over the long-term. | text | 0.40 | percentItemType | text: <entity> 0.40 </entity> <entity type> percentItemType </entity type> <context> The assumed health care cost trend rate is used to measure the expected cost of gross eligible charges covered by Howmet’s other postretirement benefit plans. For 2025, a 5.50 % trend rate will be used, reflecting management’s best estimate of the change in future health care costs covered by the plans. The plans’ actual annual health care cost trend experience over the past three years has ranged from ( 0.40 )% to 1.50 %. Management’s best estimate considering actual and expected annual health care costs is to maintain the 5.50 % trend rate as indicative of expected increases for future health care costs over the long-term. </context> | us-gaap:DefinedBenefitPlanUltimateHealthCareCostTrendRate1 |
The assumed health care cost trend rate is used to measure the expected cost of gross eligible charges covered by Howmet’s other postretirement benefit plans. For 2025, a 5.50 % trend rate will be used, reflecting management’s best estimate of the change in future health care costs covered by the plans. The plans’ actual annual health care cost trend experience over the past three years has ranged from ( 0.40 )% to 1.50 %. Management’s best estimate considering actual and expected annual health care costs is to maintain the 5.50 % trend rate as indicative of expected increases for future health care costs over the long-term. | text | 1.50 | percentItemType | text: <entity> 1.50 </entity> <entity type> percentItemType </entity type> <context> The assumed health care cost trend rate is used to measure the expected cost of gross eligible charges covered by Howmet’s other postretirement benefit plans. For 2025, a 5.50 % trend rate will be used, reflecting management’s best estimate of the change in future health care costs covered by the plans. The plans’ actual annual health care cost trend experience over the past three years has ranged from ( 0.40 )% to 1.50 %. Management’s best estimate considering actual and expected annual health care costs is to maintain the 5.50 % trend rate as indicative of expected increases for future health care costs over the long-term. </context> | us-gaap:DefinedBenefitPlanUltimateHealthCareCostTrendRate1 |
of $ 11 , which represents securities purchased and sold but not yet settled plus interest and dividends earned on various investments. | text | 11 | monetaryItemType | text: <entity> 11 </entity> <entity type> monetaryItemType </entity type> <context> of $ 11 , which represents securities purchased and sold but not yet settled plus interest and dividends earned on various investments. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
As of December 31, 2023, the total fair value of pension plans’ assets excludes a net payable of $ 35 , which represents securities purchased and sold but not yet settled offset by interest and dividends earned on various investments. | text | 35 | monetaryItemType | text: <entity> 35 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, the total fair value of pension plans’ assets excludes a net payable of $ 35 , which represents securities purchased and sold but not yet settled offset by interest and dividends earned on various investments. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
, cash contributions to Howmet’s pension plans were $ 79 and $ 36 , respectively. | text | 79 | monetaryItemType | text: <entity> 79 </entity> <entity type> monetaryItemType </entity type> <context> , cash contributions to Howmet’s pension plans were $ 79 and $ 36 , respectively. </context> | us-gaap:PensionContributions |
, cash contributions to Howmet’s pension plans were $ 79 and $ 36 , respectively. | text | 36 | monetaryItemType | text: <entity> 36 </entity> <entity type> monetaryItemType </entity type> <context> , cash contributions to Howmet’s pension plans were $ 79 and $ 36 , respectively. </context> | us-gaap:PensionContributions |
hich $ 44 is for U.S. plans). | text | 44 | monetaryItemType | text: <entity> 44 </entity> <entity type> monetaryItemType </entity type> <context> hich $ 44 is for U.S. plans). </context> | us-gaap:DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear |
, and $ 76 in 2024, 2023, and 2022, respectively. U.S. employees may contribute a portion of their compensation to the plans, and Howmet matches a portion of these contributions in equivalent form of the investments elected by the employee. Additionally, for certain U.S. employees, Howmet makes a contribution of either a percentage of applicable eligible compensation or per hour worked. | text | 76 | monetaryItemType | text: <entity> 76 </entity> <entity type> monetaryItemType </entity type> <context> , and $ 76 in 2024, 2023, and 2022, respectively. U.S. employees may contribute a portion of their compensation to the plans, and Howmet matches a portion of these contributions in equivalent form of the investments elected by the employee. Additionally, for certain U.S. employees, Howmet makes a contribution of either a percentage of applicable eligible compensation or per hour worked. </context> | us-gaap:DefinedContributionPlanCostRecognized |
In 2024, the Company completed an R&D study, and as a result recorded a discrete tax benefit for $ 42 of prior year federal R&D credits approved under audit by the U.S. Internal Revenue Service and $ 8 of prior year state R&D credits. The Company also recorded a tax benefit for federal and state R&D credits earned during the current year of $ 13 and $ 3 , respectively. | text | 42 | monetaryItemType | text: <entity> 42 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, the Company completed an R&D study, and as a result recorded a discrete tax benefit for $ 42 of prior year federal R&D credits approved under audit by the U.S. Internal Revenue Service and $ 8 of prior year state R&D credits. The Company also recorded a tax benefit for federal and state R&D credits earned during the current year of $ 13 and $ 3 , respectively. </context> | us-gaap:IncomeTaxReconciliationTaxCreditsResearch |
In 2024, the Company completed an R&D study, and as a result recorded a discrete tax benefit for $ 42 of prior year federal R&D credits approved under audit by the U.S. Internal Revenue Service and $ 8 of prior year state R&D credits. The Company also recorded a tax benefit for federal and state R&D credits earned during the current year of $ 13 and $ 3 , respectively. | text | 8 | monetaryItemType | text: <entity> 8 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, the Company completed an R&D study, and as a result recorded a discrete tax benefit for $ 42 of prior year federal R&D credits approved under audit by the U.S. Internal Revenue Service and $ 8 of prior year state R&D credits. The Company also recorded a tax benefit for federal and state R&D credits earned during the current year of $ 13 and $ 3 , respectively. </context> | us-gaap:IncomeTaxReconciliationTaxCreditsResearch |
In 2024, the Company completed an R&D study, and as a result recorded a discrete tax benefit for $ 42 of prior year federal R&D credits approved under audit by the U.S. Internal Revenue Service and $ 8 of prior year state R&D credits. The Company also recorded a tax benefit for federal and state R&D credits earned during the current year of $ 13 and $ 3 , respectively. | text | 13 | monetaryItemType | text: <entity> 13 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, the Company completed an R&D study, and as a result recorded a discrete tax benefit for $ 42 of prior year federal R&D credits approved under audit by the U.S. Internal Revenue Service and $ 8 of prior year state R&D credits. The Company also recorded a tax benefit for federal and state R&D credits earned during the current year of $ 13 and $ 3 , respectively. </context> | us-gaap:IncomeTaxReconciliationTaxCreditsResearch |
In 2024, the Company completed an R&D study, and as a result recorded a discrete tax benefit for $ 42 of prior year federal R&D credits approved under audit by the U.S. Internal Revenue Service and $ 8 of prior year state R&D credits. The Company also recorded a tax benefit for federal and state R&D credits earned during the current year of $ 13 and $ 3 , respectively. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, the Company completed an R&D study, and as a result recorded a discrete tax benefit for $ 42 of prior year federal R&D credits approved under audit by the U.S. Internal Revenue Service and $ 8 of prior year state R&D credits. The Company also recorded a tax benefit for federal and state R&D credits earned during the current year of $ 13 and $ 3 , respectively. </context> | us-gaap:IncomeTaxReconciliationTaxCreditsResearch |
In 2023, the Company recorded an income tax reserve of $ 21 related to an uncertain French tax position. | text | 21 | monetaryItemType | text: <entity> 21 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, the Company recorded an income tax reserve of $ 21 related to an uncertain French tax position. </context> | us-gaap:IncomeTaxReconciliationTaxContingenciesForeign |
Howmet’s foreign tax credits in the U.S. have a 10-year carryforward period with expirations ranging from 2025 to 2027 (as of December 31, 2024). Valuation allowances were initially established in prior years on a portion of the foreign tax credit carryforwards, primarily due to insufficient foreign source income to allow for full utilization of the credits within the expiration period. Foreign tax credits of $ 46 and $ 20 expired at the end of 2024 and 2023, respectively, resulting in a corresponding decrease to the valuation allowance. Due to an increase in foreign source income, the Company decreased the valuation allowance accordingly by an additional $ 4 and $ 14 in 2024 and 2023, respectively. As of December 31, 2024, the cumulative amount of the valuation allowance was $ 41 . The need for this valuation allowance will be reassessed on a continuous basis in future periods and, as a result, the allowance may increase or decrease based on changes in facts and circumstances. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> Howmet’s foreign tax credits in the U.S. have a 10-year carryforward period with expirations ranging from 2025 to 2027 (as of December 31, 2024). Valuation allowances were initially established in prior years on a portion of the foreign tax credit carryforwards, primarily due to insufficient foreign source income to allow for full utilization of the credits within the expiration period. Foreign tax credits of $ 46 and $ 20 expired at the end of 2024 and 2023, respectively, resulting in a corresponding decrease to the valuation allowance. Due to an increase in foreign source income, the Company decreased the valuation allowance accordingly by an additional $ 4 and $ 14 in 2024 and 2023, respectively. As of December 31, 2024, the cumulative amount of the valuation allowance was $ 41 . The need for this valuation allowance will be reassessed on a continuous basis in future periods and, as a result, the allowance may increase or decrease based on changes in facts and circumstances. </context> | us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount |
Howmet’s foreign tax credits in the U.S. have a 10-year carryforward period with expirations ranging from 2025 to 2027 (as of December 31, 2024). Valuation allowances were initially established in prior years on a portion of the foreign tax credit carryforwards, primarily due to insufficient foreign source income to allow for full utilization of the credits within the expiration period. Foreign tax credits of $ 46 and $ 20 expired at the end of 2024 and 2023, respectively, resulting in a corresponding decrease to the valuation allowance. Due to an increase in foreign source income, the Company decreased the valuation allowance accordingly by an additional $ 4 and $ 14 in 2024 and 2023, respectively. As of December 31, 2024, the cumulative amount of the valuation allowance was $ 41 . The need for this valuation allowance will be reassessed on a continuous basis in future periods and, as a result, the allowance may increase or decrease based on changes in facts and circumstances. | text | 14 | monetaryItemType | text: <entity> 14 </entity> <entity type> monetaryItemType </entity type> <context> Howmet’s foreign tax credits in the U.S. have a 10-year carryforward period with expirations ranging from 2025 to 2027 (as of December 31, 2024). Valuation allowances were initially established in prior years on a portion of the foreign tax credit carryforwards, primarily due to insufficient foreign source income to allow for full utilization of the credits within the expiration period. Foreign tax credits of $ 46 and $ 20 expired at the end of 2024 and 2023, respectively, resulting in a corresponding decrease to the valuation allowance. Due to an increase in foreign source income, the Company decreased the valuation allowance accordingly by an additional $ 4 and $ 14 in 2024 and 2023, respectively. As of December 31, 2024, the cumulative amount of the valuation allowance was $ 41 . The need for this valuation allowance will be reassessed on a continuous basis in future periods and, as a result, the allowance may increase or decrease based on changes in facts and circumstances. </context> | us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount |
The Company recorded a net $ 7 decrease, $ 2 decrease, and $ 1 decrease to U.S. state valuation allowances in 2024, 2023, and 2022, respectively. After weighing all available positive and negative evidence, the Company determined the adjustments based on the underlying net deferred tax assets that were more likely than not realizable based on projected taxable income. Changes in fully reserved U.S. state tax losses, credits and other deferred tax assets resulting from expirations, audit adjustments, tax rate, and tax law changes also resulted in a corresponding net $ 30 decrease, $ 49 decrease, and $ 142 decrease in the valuation allowance in 2024, 2023, and 2022, respectively. Valuation allowances of $ 401 remain against state deferred tax assets expected to expire before utilization. The need for valuation allowances against state deferred tax assets will be reassessed on a continuous basis in future periods and, as a result, the allowance may increase or decrease based on changes in facts and circumstances. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> The Company recorded a net $ 7 decrease, $ 2 decrease, and $ 1 decrease to U.S. state valuation allowances in 2024, 2023, and 2022, respectively. After weighing all available positive and negative evidence, the Company determined the adjustments based on the underlying net deferred tax assets that were more likely than not realizable based on projected taxable income. Changes in fully reserved U.S. state tax losses, credits and other deferred tax assets resulting from expirations, audit adjustments, tax rate, and tax law changes also resulted in a corresponding net $ 30 decrease, $ 49 decrease, and $ 142 decrease in the valuation allowance in 2024, 2023, and 2022, respectively. Valuation allowances of $ 401 remain against state deferred tax assets expected to expire before utilization. The need for valuation allowances against state deferred tax assets will be reassessed on a continuous basis in future periods and, as a result, the allowance may increase or decrease based on changes in facts and circumstances. </context> | us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount |
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